There are countless strategies, products and providers in the world of insurance, but at the most basic level, there are four main types – and we've found with our clients this is a good place to start.
Critical Illness
- to cover all associated costs of life-altering illnesses
- all suppliers cover cancer, heart attack, heart disease, stroke
- though many other illness can be covered
Life
- provides a tax-free benefit payable to your heirs
- to help support your family after your passing
Disability
- in the case of short- or long-term disabilities like injury, serious illness or mental health
- designed to supplement your income when disability prevents you from working
Long-Term Care
- covers health care or assisted living costs for an indeterminate period of time
- most common among those over 65, suffering from diseases like Alzheimer’s or Parkinson's
Insurance Investments
- Include annuities, variable annuities, segregated funds and structured settlement funds
- allows for living benefits to supplement retirement income, with many other advantages