Insurance is an important means of managing risk. Whether it is life, disability or long-term care insurance, your financial planner can help you determine which products best meet your needs. At the end of the day, insurance can help provide peace of mind that if a catastrophic event were to occur, at least a financial plan is in place to help address the situation.

Life Insurance

In the event of your untimely death, life insurance helps protect the financial security of your family. Premiums are paid throughout the term of the policy. At the time of your death, your beneficiaries are paid the amount of the death benefit. The amount of premiums and the amount of death benefit depend a great deal on the insurability of the person, as well as the type of policy that was purchased.

Emerson Equity offers three types of life insurance products:

• Term Life – This type of fixed life insurance is purchased for a specific period of time such as a single year or even ten-year period. If you were to die within the defined period of time, the death benefit is paid to the named beneficiary. However, if you live beyond that period of time, no payment is made. As a result, the premium on term insurance is generally lower than other types of life insurance.
• Whole Life – A more traditional type of fixed life insurance is whole life. With whole life insurance, premiums are contractually guaranteed for the entire time the policy is in force. A cash value is accumulated over time, but the insurance company determines the interest rate credited to the cash value.
• Universal Life – A more flexible type of fixed life insurance is called universal life. Premiums may vary as long as the available cash value is sufficient to cover the costs of the policy. The insured can choose to increase or decrease the amount of the death benefit while the policy is in force.

Disability Insurance

While it is unpleasant to contemplate, the risk of sustaining a disabling injury is a very real one. But at least if you are faced with such a difficult situation, disability insurance would help address all the resulting financial implications – from medical bills, rehabilitation and loss of income.

The good news is that disability income insurance is one of the most affordable types of insurance available. Your Emerson Equity financial planner can provide you with the details on how this important type of insurance can protect your family in the event of a disabling injury.

Long-Term Care Insurance

Equally difficult to think about is the prospect of a serious illness or disability that could prevent you from being fully able to care for yourself for a period of time. Long-Term Care insurance helps to provide daily assistance in such an event – either through a nursing home or other type of medical assistance.

Without Long-Term Care insurance, the financial results of a serious illness or disability can be devastating – requiring an individual to pay for assistance from personal savings or retirement accounts. Contact your Emerson Equity financial planner to learn more about how Long-Term Care insurance can help you maintain your independence and protect your asset.