Life Insurance
If someone depends on you financially, chances are you need life insurance.
While a life policy won’t ease the emotional pain of losing a loved one, it will prevent the added stress of financial difficulties while coping with the loss. Life insurance policies are designed with different needs in minds. Whether you are an individual looking for a way to provide for your loved ones financially after your death, or a small business partner in need of a smart business continuation plan in the event of a death, we can provide you with a policy that provides you with security and peace of mind. And, as your life changes, your life insurance coverage needs may change. We offer a wide variety of coverages, which allows us to update and adapt your policy to provide the protection that is right for your current and future needs.
Individual Life Insurance
Getting married? Buying a house? Having a baby? Planning for retirement? Are you supporting an aging or disabled relative? Sending a child to college? These life events are all smart reasons to look at taking out a life insurance policy.
Life insurance can be used to provide protection for a specific period of time or to build cash values on a tax-deferred basis that you can borrow against during your lifetime. Your own personal financial needs and goals will dictate what type of plan is best for you and your family.
If you died tomorrow would your spouse be able to pay the bills? Would you be leaving your heirs with a large amount of debt? Would your child still be able to attend college? Planning for your family’s financial future in the event of your untimely death is crucial. By purchasing a life insurance policy you can fulfill obligations and promises to your family even when you are no longer living.
Rabbett Insurance can walk you through the different types of policies offered and help you decide what coverage is right for your particular situation. Our product portfolio includes offerings in:
- Term Life Insurance
- Permanent Life Insurance
- Whole Life
- Universal Life
- Variable Life
- Variable Universal Life
Business Life Insurance
Aside from taking care of your family, life insurance can also protect your business. Every business has assets that its owners want to protect from loss. Buildings, equipment, and automobiles are examples of business assets. However, an asset that is sometimes overlooked in a business is its employees that are vital to the success and operation of the company.
You are a partner in a company. If you died tomorrow what would happen to the business? Would the surviving owners have the funds to buy your interest in the business? Does your heir have the experience to take over your duties in the operations of the business? Or would your heir be forced to sell his/her share in the company? If so, would he/she receive a fair price? If you and your partners had a life insurance policy that funded a buy-sell agreement these questions would already be answered for you. A policy such as this ensures that the surviving partners have the funds to buy your interest in the business from your heirs at a price that has already been agreed upon by you.
You are a small business owner. Your only sales representative, who generates 80% of your revenue, dies suddenly. What happens to your customers’ confidence in your company? How long will it take to find a replacement, and then for the new employee to produce at the level of your deceased sales rep? Key employee life insurance protects you from the financial loss your business incurs when a key person to the “life” of your business dies. A policy can provide the business funds to keep running smoothly while finding a replacement, which in turn, assures your customers and your creditors that the business will continue operations as usual.
Health Insurance
Short-term Health
Just graduated? In between jobs? Waiting to be eligible on your new employer’s group plan? We have short-term healthcare solutions for you.
Individual Plan
If you’re not on an employer’s group plan then you are in need of individual healthcare coverage. We have policies for a variety of personal needs whether you are single, have a family, or are self-employed. Whether you are looking for a plan that includes; preventative care, high deductible options, low monthly fees, basic health services, or prescription coverage, we can offer you a plan to suit your healthcare needs.
Group Plan
If you are an employer with 2 or more employees you are eligible for a group plan. Offering a group health plan can help attract and retain quality employees. Rabbett Insurance offers traditional managed care, HMO and fee-for-service plans as well as innovative HSA plan designs. A variety of both traditional and innovative plan designs and can help you decide everything from the type of plan you want to offer your employees to how much your employees will contribute to their health coverage. Many plans include dental, group life and disability benefit options.
Long Term Care
Long Term Care (LTC) is the care needed by an individual who requires assistance with daily living activities. This need can arise at any age due to a sudden, serious illness or disability. However it is typically older individuals in need of this type of care. Some of these duties, such as dressing or bathing may be performed by a family or friend. However, apart from these unpaid services, the costs associated with Long Term Care are astounding. In addition, everyone is at risk for needing long term care. Most people think that government programs such as Medicare or Medicaid will cover the costs associates with long term care when the time comes. Medicare only covers a small piece of costs associated with LTC, while Medicaid requires individuals to spend down their assets before they can qualify for benefits.
Long term care coverage protects your hard earned assets, alleviates the burden of caring for an aging individual on relatives or friends, and allows for more control over how and where you receive care when it is needed. For these reasons it is important to consider LTC insurance while you are still healthy. We can help you better understand your options concerning how coverage works and help you make an informed choice concerning your long term care.
Individual Disability Income Insurance
Your ability to earn an income is one of your greatest assets. No one expects to become disabled and not be able to work. But, it does happen. And if you should become unable to work and collect a paycheck how will you pay the mortgage, buy food, make your car payment? You may think you’re already covered by Social Security or your employer’s group disability plan. In most cases Social Security does not apply or is not enough to cover your expenses, and most group disability plans only cover 50% of your income. An individual disability policy can cover your expenses if you become disabled by injury or illness. |
