Life & Disability Insurance
Insurance Safeguards Your Family!
Life Insurance
The right life insurance will be unique and dependent on personal and financial needs. As your life changes, your life insurance coverage may need to change in order to adapt to your current needs. Check your policy when these life changes occur:
You recently married or divorced*
You have a new child or grandchild*
You have opened or expanded a business*
Your health or your spouse’s health has deteriorated*
You are providing care or financial assistance to a parent*
Your child or grandchild requires long-term care*
You recently purchased a new home*
You are planning for a child or grandchild’s education*
You are concerned about retirement income*
You have refinanced your home mortgage in the past 6 months*
You or your spouse recently received an inheritance*
You have a sizable estate*
Term Life Insurance
- Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance and is available in varying time periods with fixed premiums from a one-year (annual renewable term) to 20-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
Whole Life Insurance
- Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.
Universal Life Insurance
- Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically but is usually guaranteed not to fall below a certain percentage.
- To find out what type of life insurance is best for you, talk with the team at Riordan Insurance Group. We can assist in identifying the best protection for you.
Disability Insurance
Individual Disability Income Protection is a must for any business owner and is highly recommended for executives. If you are a business owner, you should consider purchasing both group and individual policies, if possible. As an executive, you should be sure to obtain group coverage if it is available. Only forty-three percent of large companies provide group long-term disability insurance. Your chances are even less likely to get long-term disability insurance if you work for a small company. The cost of a plan provided by your employer is usually less than you would pay for an individual disability policy and often you can get coverage automatically without having to qualify medically. If your employer doesn’t provide disability insurance then you may want to consider an individual disability policy.
Or, you may need a personal disability insurance policy to supplement an employer group plan. Be sure to check the group provisions carefully: How long does the group disability insurance coverage last? How much is the benefit? Does the disability insurance policy cover bonus and commission income? Will the coverage continue if you leave that employer?
A typical Individual Disability Income Protection plan starts to pay benefits after you have been off work for 1 to 6 months, and pays benefits for several years or until retirement age, depending on the policy.
Riordan Insurance Group – The Right Choice to make when considering your life and disability insurance needs. We can help you pick the policies that are right for you at the best price. Let us do the work and you enjoy the benefits of coverage.