Life/Disability, Long-Term Care, and Supplements

Life/Disability, Long-Term Care and Supplements

Fox/Everett prides itself on the quality of carriers we use to bring you the personal insurance plans that you and your family need and deserve. It is sound advice to review your life, disability, auto/homeowners and all other personal insurances annually, at a minimum. Fox/Everett agents are always available to assist you with your personal insurance needs and will be happy to help you reevaluate and restructure your insurance plan to fit your needs. 

Life

Insuring your life, and thus your loved ones, could be one of the most important investments that you’ll ever make. When planned and secured ahead of the unexpected, the life insurance left behind can assist with paying bills, ensuring the wellbeing of your family’s finances, financing future needs such as the education of your children, your spouse’s retirement plans and much more. Life insurance helps make sure that your family and loved ones will be cared for financially, even if you’re not there to care for them yourself.

Disability 

For most of us, an unexpected interruption of regular income could have serious financial repercussions. Mortgage, credit card and/or health care bills and the general cost of living can pile up if there is a change or significant loss in income. Would you be able to maintain your current standard of living if you were unable to work for a length of time due to illness or injury? How long would your savings be able to sustain you? 

The possibility of a disabling illness or injury may not be top of mind, but don’t take chances. According to the Council for Disability Awareness, just over 1 in 4 twenty year olds alive today will become disabled before retirement. Disability insurance will be there for you and your loved ones should you become unable to work and provide for your family. Prepare a plan of action before a crisis. 

Long-Term Care

It’s a common misconception that Medicare or your general health insurance will cover the expenses if you find yourself in need of long-term care. However, if you develop a chronic illness or become disabled and are unable to care for yourself for an extended period of time, you’ll need long-term care services. These services include full-time nursing home care, which averages $69,000 to $78,000 per year or eight hours per day of home health care, which can cost $43,000 to $70,000, annually. It is estimated that 70% of people over 65 will require long-term care at some point. Be it within one’s own home or an outside facility, the average amount of time spent under this care is about three years, according to recent research. Take steps to care for yourself should you become unable to do so. Don’t let family members experience the financial and logistical burden. 

Contact us for more information.