{"id":1623,"date":"2016-10-19T18:13:40","date_gmt":"2016-10-19T18:13:40","guid":{"rendered":"https:\/\/hgwebdev3\/grpadvisor\/?page_id=1623"},"modified":"2016-11-10T17:34:56","modified_gmt":"2016-11-10T17:34:56","slug":"product","status":"publish","type":"page","link":"https:\/\/www.heff4life.com\/?page_id=1623","title":{"rendered":"Products"},"content":{"rendered":"
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Life Insurance<\/span>Long Term Care<\/span>Hybrid Products<\/span>Annuities<\/span>Disability<\/span><\/div>
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Life Insurance<\/em><\/strong><\/p>\n

These days, it seems like there are endless different types of life insurance.\u00a0 However, life insurance can be divided into three main categories.\u00a0 Term life insurance, whole life insurance, and universal life insurance.<\/p>\n

Term Life Insurance<\/em><\/strong><\/p>\n

is pure life insurance for a fixed period of time. It could be as little as 10 years or as long as 30. \u00a0The policy has no value unless the insured dies while the policy is in force. In addition, the rates go up at the end of the chosen term period. If the insured wishes to extend the term period, requalification is always required<\/p>\n

Whole Life Insurance<\/em><\/strong><\/p>\n

is a type of permanent coverage.\u00a0 This is because it guarantees coverage up to a certain age (usually 100). These policies endow at age 100, which means the cash value is equal to the death benefit. \u00a0This guarantees the payout even if the insured lives to be 100. \u00a0The cash value is paid to the owner of the policy if the policy is surrendered early (before age 100). The premiums for whole life are significantly higher than for term insurance.<\/p>\n

Universal Life Insurance<\/em><\/strong><\/p>\n

is also a permanent plan that has a flexible premium. It is considered permanent because it never requires re-qualification, and coverage can be maintained for as long as the insured chooses.\u00a0 The length of coverage will be determined by the amount of premium paid.\u00a0 There typically is a minimum premium required,\u00a0 but changes can be made at any time. Increases in premium will result in an extension of coverage. \u00a0Universal life may also have a cash accumulation value which means that some or all of the premium would be returned to the policy owner if the policy were cancelled early.<\/p>\n<\/div>\n

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Long term Care Insurance<\/strong><\/em><\/p>\n

LTC insurance covers \u00a0the care and services provided to a person who \u00a0is determined by a licensed physician to need regular daily help with their Activities of Daily Living (ADL\u2019s). The normal ADL\u2019s are eating, bathing, dressing, using the restroom, transferring, ( moving from a bed to a chair) ambulating, or a severe cognitive impairment like Alzheimer\u2019s.\u00a0 LTC insurance will pay for a health professional to come in and provide care in the home, or pay for care in a facility. .<\/div>\n

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Hybrid products<\/strong><\/em><\/p>\n

A Hybrid product<\/strong> combines the protection of life insurance with the ability to access the death benefit during your lifetime to pay for \u00a0long term care expenses. \u00a0Many Hybrids are designed to allow clients to reposition assets to cover the premium.\u00a0 Because they provide a tax free benefit, Hybrids can be both a tax efficient and cost effective way to pay for long term care expenses. Policy features also may include a return of premium if the policy is canceled before providing a benefit.<\/p>\n<\/div>\n

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Annuities<\/strong><\/em><\/p>\n

Annuities<\/strong> are an investment sponsored by insurance companies, and are designed to \u00a0create a revenue source for your retirement. You make a deposit now, and you receive an income stream in the future. The income can be guaranteed for selected period of time, including lifetime.<\/p>\n<\/div>\n

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Disability<\/strong><\/em><\/p>\n

Disability insurance<\/strong><\/em> provides income if you are unable to work due to a disabling accident or illness. It allows you to continue receiving income, \u00a0even if you are not able to work. Disability income insurance is a very important way to protect you, your family, and your assets.<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div>\n

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