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Individuals
Individual Insurance Options
  DI Concepts offers a wide range of options to fit your individual needs:

 

 

Life Insurance

There is a fundamental need for life insurance in oneís planning for their personal or business needs. Our company has we believe some of the finest products available in the market today. The life insurance field is highly competitive and the different types of needs are vast. Our staff is qualified to help you in determining your needs in particular. We offer life insurance products that include,

  • Universal Life Insurance ( most flexible of the life products)
  • Whole Life Insurance, for guaranteed premiums, cash values and plans for juveniles
  • Term life insurance, less expensive for those that have a particular need that normally addresses a short period of oneís needs.
  • Term life insurance with a return of premium at the end of the stated period of oneís policy if no benefit has been paid out.

We can help you with finding the right product that fitís your particular needs. We appreciate the opportunity to be of assistance to you. 

 

  Disability Insurance

Personal Disability Income Protection Planning

Personally owned disability income insurance should be considered in the event you become disabled and are not able to earn wages. If you are considering or already have a personally owned policy there are several areas you should examine.

        How much of your income is covered?

        How long does the insurance benefit continue if you have a claim?

        What are the limitations of the contract?

        Are the benefits to you taxable or non-taxable if you have a claim?

Most disability insurance plans generally insure a wage earner up to about 60% of what they were making at the time of an application. This would be reportable income on tax returns and generally verified by sending information to the insurance company to verify income and expenses.

If you are a high wage earner your coverage could actually be far less to you in the event of a claim. Low group maximum benefits could limit the actual amount of income paid to you in the event of a claim.

 The questions that need to be asked before a proposal can be sent are,

        What do you do for a living, how long have you been at this occupation,

        Date of birth, sex  and state of residence

        Reportable income

        Health condition

A personally tailored disability program can be designed to fit your needs.

If you would like one of our representatives to call please complete the questionnaire and we will contact you ASAP.

Critical Illness Insurance Protection

 In my opinion this could become one of the most important products one needs to own if possible. The contract is designed as a health related product. If an insured has one of the conditions that triggers the benefits and survives initially, a lump sum of money is paid to the claimant.

 Conditions such as a heart attack, life threatening cancer, renal failure and other situations trigger the benefits.

The product was developed with the idea of providing the money needed for an insured to meet expenses following a severe medical condition.

Programs differ somewhat depending which insurer is being illustrated. Generally one buys a said dollar amount of benefit, based on age, insurability and extra options they may wish to add to the policy.  

If you would like additional information please complete the questionnaire and we will respond ASAP.

 

  Long Term Care Needs

Whether you have already done some research on Long Term Care or are brand new to the subject, DI Concepts is here to help you. We have over a decade of experience in educating consumers on LTC Insurance, and we have designed this site to help answer some of your questions, including:

What is Long Term Care Insurance?

Good news to those of us in or approaching our golden years: we're living longer. Hopefully, you will have a long time to enjoy the fruits of your years of labor. With any luck you will be able to support your lifestyle in your retirement years and have something left for your heirs. That's the scenario we all desire.

But, we have all lived long enough to know that life is not always fair. All we can do is hope for the best and prepare for the worst. Even the very wealthy run the risk of depleting their assets with a long term illness or injury. Living longer with failing health is the ultimate dilemma.

Maybe you know someone with:
  • Failing health.
  • A disabling disease.
  • A severely disabling injury.
Do you remember:
  • How devastating it was to those closest to that person?
  • How it affected you personally?
  • How it affected their lifestyle?
  • How it affected them financially?

Did it make you think:

  • What if that happened to me?
  • Who would take care of me?
  • How would my life change?
  • How could I afford to be taken care of?
  • How can I be better prepared if that should happen to me?

Have you considered Long Term Care Insurance?

We insure our homes, our cars, and our lives. Does it not make sense to also insure the type of care we would like if faced with being disabled or in need of long term care?

Long term care insurance can provide you with benefits for:

  • Nursing home care.
  • Assisted living facilities.
  • Home health care.
  • Home enhancements (i.e.; ramps, grab bars, and lower counters)
  • And other features to help maintain your quality of living.
Long term care insurance can also help provide:
  • Peace of mind.
  • The assurance you will not burden your spouse or children.
  • Asset protection.
  • Financial stability if you should need long term care.

Will You Need It?

Because of advancements in medical science, a higher standard of living and overall healthier lifestyles we are living longer. Science has yet to find cures for some of our most disabling diseases such as Alzheimer's and Parkinson's but they have increased our chances of surviving major body trauma. The longer we live, the greater the odds, that someday we may become unable to care for ourselves and will need some assistance. Buying long term care insurance is an important decision. In a study published in The New England Journal of Medicine, "Lifetime Use of Nursing Home Care", (Feb. 1999), it was noted that "Of the approximately 2.2 million persons who turned 65 in 1990, more than 900,000 (43% are expected to enter a nursing home at least once before they die"

People buy long term care insurance for a number of reasons.
  • A desire to live in familiar surroundings as long as possible.
  • Help protect assets.
  • They do not want to burden spouse or family.
  • They do not want to count on the government.
  • Added peace of mind.

 

Can I Afford to Purchase Long Term Care Insurance?

One question you will have to answer is "Can I afford to purchase Long Term Care Insurance?"

Purchasing a policy while you are younger and have few if any medical conditions is also an important consideration. If you have certain medical conditions, your choice of companies may be limited. Both age and medical conditions are factors that can affect the cost of a LTC insurance policy. We can help you find the right fit.

Should You Consider Purchasing a Long Term Care Insurance Policy?
 

    Yes, You Should Consider It If:
     

    • You have a significant income and / or assets.
    • You wish to help protect your assets and income.
    • You do not want to rely on the Government or others to pay for your care.
    • You do not want to rely on friends or family to provide you care if needed.

    No, You Should Not If:
     
    • You can not afford to pay the policy premiums.
    • You have a limited amount of assets and / or a very small income.
    • Your only income is Social Security or SSI ( Supplemental Security Income).
    • You have trouble affording the basics, rent, utilities, food, medical needs or medicines.

Designing a policy

    When the two major questions, affordability and health have been answered we can move on to designing a policy. Here is where we begin to tailor a policy that meets your needs and affords you the coverage you seek. By breaking down the steps it will be easier to grasp all the options that are available.
Maximum Benefit Example:
Years = Days x Daily Benefits = Maximum Benefits
2   730   $150   $109,500
3   1,095   $150   $164,250
4   1,460   $150   $219,000
5   1,825   $150   $273,750
6   2,190   $150   $328,500

 
Those are the basic questions you will need to be able to answer and make decisions on. Here are some additional considerations.
  • Some companies give preferred rates if you have a good medical history.

     
  • There may be a spousal discount if your spouse applies.

     
  • Definitions and terms may vary from company to company make sure you understand the terms and definitions. Read and understand the fine print.

     
  • The rules for eligibility to collect benefits may vary from company to company make sure you understand the requirements.

     
  • Do not be afraid to ask questions. There are no silly or dumb questions.

     
  • Take your time making your decision.
 


 
Copyright 2006 Disability Income Concepts. All rights reserved