LIFE & HEALTH INSURANCE
Bespoke Wealth Management, Inc.
Term insurance is the most basic form of life insurance. A term insurance policy is a policy that has a set duration. Usually, these policies range from 1 – 30 year term periods. If you die during the term period your beneficiaries receive the death benefit. If you die outside the term period there is no payout.
WHOLE LIFE INSURANCE
Whole life insurance is a type of permanent life insurance coverage that provides a guaranteed death benefit along with guaranteed cash values. Part of each premium payment is applied to the policy’s cash value account, which grows on a tax-deferred basis (based on current federal tax laws).
UNIVERSAL LIFE INSURANCE
A universal life insurance policy works similarly to whole life insurance which is designed to cover a person’s entire life. Universal life makes it possible to adjust the benefit amount up or down without needing to get a new policy.
SURVIVORSHIP/JOINT LIFE INSURANCE
Survivorship life insurance insures the lives of two people and pays the death benefit when the second person dies. It can be a valuable part of your financial strategy, particularly if you have a large estate you want to help protect.
LONG TERM CARE INSURANCE
Long-term care insurance is a type of insurance developed specifically to cover the costs of nursing homes, assisted living, home health care and other long-term care services.
Disability Insurance is a plan that provides payments of benefits when a disabled insured is unable to work. It is designed to replace anywhere from 45 to 65% of your gross income on a tax-free basis should illness keep you from earning an income in your occupation.
Annuities are a type of investment account typically used for retirement savings or to generate regular income payments in retirement.
GROUP HEALTH, LIFE, & DISABILITY INSURANCE
Group health, life, and disability insurance coverage are a policies that are purchased by an employer and are offered to eligible employees of the company (and often to the employees’ family members) as a benefit of working for that company.