Don’t let our name mislead you. While we offer significant capabilities in the life insurance area, we are equally proficient in other areas as well. These other areas include:
- Long Term Care Insurance
- Disability Insurance
- Annuities
Take a closer look………
Long Term Care Insurance:
LTCI industry experts agree, when it comes to planning for long term care, most reasonable people believe the following 3 statements to be true:
- Regardless of family history and, for reasons primarily attributable to advancements in both medical technology and pharmacology, most people are living significantly longer today than ever before.
- Living a long life greatly increases the likelihood that a person will require assistance with many of the commonly recognized activities of daily living.
- Providing this assistance can be, and often is, devastating emotionally, physically and financially for the families faced with the task of providing care. In fact, the LTC industry reports the most common reason why someone is typically placed in a nursing facility is because the health of their caregivers (i.e. family members) deteriorates.
A private long term care insurance policy is one of the wisest purchases an individual or a couple will ever make. And, when considering a long term care insurance policy, it is critically important that you choose an insurance carrier that is a proven leader in the long term care insurance business.
The Life Insurance Place of the Lowcountry works with only the finest and most reputable long term care insurance carriers. These carriers include:
- Genworth Financial
- John Hancock
- Met Life
- Allianz
- Prudential
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Disability Insurance:
Who needs disability insurance? The quick answer is practically everyone! Yes most people overlook the need for this type of coverage. Many people wouldn’t think of being without life insurance and health insurance for obvious reasons. Now, ask yourself if you rely on the income you derive from working to pay your bills. If the answer is yes, you likely need disability insurance.
While many working Americans think disabilities won’t happen to them, the statistics show that this isn’t true. For example, a 30-year old has a 50% chance of suffering a disability within 35 years. This chart shows the chances of suffering a long-term disability of 90-days or more before an individual reaches age 65.
Age Percentage Disabled*
25 52% 1 out of 2
30 51% 1 out of 2
35 48% 4 out of 9
40 45% 4 out of 9
45 40% 2 out of 5
50 34% 1 out of 3
55 27% 1 out of 6
60 16% 1 out of 6
*By age 65 Commissioners Disability Table |
As you can see, it’s extremely important that you realize the risk of becoming disabled. You need to be prepared in the unfortunate event a disability strikes.
People often incorrectly believe they will be covered by Social Security, Workers’ Compensation or their own savings. This simply isn’t true in the vast majority of cases. While these sources can certainly assist in supplementing the loss of income, they typically fall far short of providing the resources necessary to sustain a family. |
Social Security benefits are often difficult to obtain, since the restrictions state clients must be completely disabled with no hope of recovery for a period of at least one year, or have a disability expected to be fatal. Workers’ Compensation offers limited benefits, but only if you are injured while on the job. The last resort, personal savings, is often a risky place for your clients to place their faith. A short disability is likely to wipe out any savings, even if they are substantial. When no income is being generated, money for the mortgage, utilities, car payments, food, medications and other expenses may consume everything you have.
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Annuities:
Annuities have long been a very proven and popular financial tool. Supported by one of the nation’s largest annuity brokers, we understand the marketplace and keep you informed of industry changes and product enhancements.
We offer a diversified portfolio of more than 100 products from top-rated carriers. Our product line consists of:
- Multi-Year Guaranteed Annuities- Provides a fixed guaranteed interest rate for a fixed period of time.
- Traditional or Bonus Annuities- Provides a guaranteed minimum interest rate that remains in effect for as long as the policy is in force.
- Indexed Annuities- Are considered to be a fixed type (guaranteed) annuity; however, their interest is credited based on the change in the value of a specified equity index, such as the S&P 500.
- Single Premium Immediate Annuities (SPIA)- Are purchased using one premium payment, with the purpose of providing a guaranteed income for either a lifetime or a specified number of years, depending on the payment option selected
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