Ideal Wealth Advisors
Life & Long Term Care

Term Life Insurance could be the right choice for you if you need coverage for a set time. Term insurance is typically more economical. Coverage ends when the term expires. Choose a 5-, 10-, 15-, 20- or 30-year term based on your specific needs and your vision of the years ahead.

Term Life Insurance is insurance for a specific number of years, and is intended to:

• Help replace lost income
• Cover needs that will go away over time

Most policies have coverage that will not change for the length of the term selected.

Unlike term insurance, whole life offers coverage for your entire life. And it accumulates cash value, which is accessible in the form of loans or withdrawals. So whole life can represent a future source of money as well as protection. The premiums are guaranteed to remain the same throughout your lifetime.

Coverage to benefit varying ages and family situations

Whole life coverage can be a beneficial option for an array of ages and family situations:

• Customers of all ages may be eligible to apply (depending on the product offered).
• Children and grandchildren benefit because the policy is designed for lower premiums at a young age, and the premium remains level.
• Young families with limited premium dollars benefit because it provides a simple insurance plan offering financial security and cash values.
• More mature customers benefit because of tax-favored accumulation of cash value and life insurance coverage.
• Premiums are paid over your lifetime, or a shorter period, depending on the product offered.

Accumulation of cash values

Cash values accumulate at a fixed rate. The cash value can be used to purchase extended term insurance or to purchase paid-up insurance, or the policy can be surrendered for its cash value.

Your golden years could be very expensive or very well thought out.

The day may come when you need long-term care. It can be very expensive and Medicare doesn’t usually supplement that cost. Without a way to pay for the expenses associated with long-term care, your savings could be at risk as well as the financial security you planned on leaving your family.

Are these familiar concerns of yours? Let us help you answer some important questions about Long-term Care Insurance, including:

1. How does Long-term Care Insurance cover these costs?
2. What is the best age to start planning?
3. Can I be turned down for coverage?
4. What if I have a pre-existing condition?
5. Won’t Medicare or Medicaid cover my long-term care services?
6. What kind of long-term care policies are available?
7. Can I choose my own facility and service providers?
8. How much coverage will I have?

Give us a call at 651-773-2876. We look forward to helping you make an informed decision regarding your insurance options.

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims-paying ability of the issuing company.