Types of Insurance
No one really wants to think about life insurance. But if someone depends on you financially, it’s a topic you can’t avoid. In the event of a tragedy, life insurance proceeds can:
- Pay for funeral costs
- Help pay the bills and meet ongoing living expenses
- Pay off outstanding debt, including credit cards and the mortgage
- Continue a family business
- Finance future needs like your children’s education
- Protect a spouse’s retirement plans
Getting life insurance doesn’t have to be hard (or boring). We have some easy steps for you to walk through to see if life insurance is right for you. You’ll also find information and interactive tools to help you get a sense of how much and what kind to buy, plus information about how different life events—such as having children or buying a home—can affect your insurance needs. So why not get started!
Your ability to earn a living is far and away your largest asset. Learn how to protect your paycheck if you become unable to work in the event of sudden injury or illness.
Think about it. What would happen if suddenly, due to an illness or injury, you were unable to work?
Without your paycheck, how long would you be able to make your mortgage or rent payment, buy groceries or pay your credit card bills without feeling the pinch? If you’re like most, it wouldn’t be long at all: Half of working Americans couldn’t make it a month before financial difficulties would set in, and almost one in four would have problems immediately, according to a Life Happens survey.¹
That’s where disability insurance comes in. Think of it as insurance for your paycheck. It ensures that if you are unable to work because of illness or injury, you will continue to receive an income and make ends meet until you’re able to return to work.
You don’t hesitate to insure your home, car and other valuable possessions, so why wouldn’t you also protect what pays for all those things—your paycheck.
Explore this section to learn more about the different sources of disability income protection and ways to get coverage.
Long-Term Care Insurance
Long-term insurance may be your best option if you develop chronic illness or become disabled and can no longer care for yourself for an extended period of time.
Did you know that neither your health insurance nor Medicare would pay for extended long-term care services in the event that you needed them in the future?
If you develop a chronic illness or become disabled and can no longer care for yourself for an extended period of time, you’ll need long-term care services.
And they aren’t cheap.
The median cost for a home-health aide for an eight-hour day is more than $44,000 a year, while nursing care in a facility with a private room has a median cost of almost $84,000 a year.1 As life expectancies increase, so does the duration of long-term care needs, and the financial burden may end up falling on your loved ones after you’ve run through your own life savings.
At HJP Lakes Accounting & Financial Concepts, we take great pride in our ability to deliver value and provide superior customer service. If you value personal care and attention, expert knowledge and execution, the convenience of bundled packages and billing, and one-stop-shop for additional services we offer, then we’re the right choice for you. We stand by our commitment to our customers. We promise to always do right by our customers and will always place their interests above our financial gain. Please let us know if we can be of any help to you.