Life insurance is protection against financial loss resulting from death.  Life insurance is one of the most important purchases an individual can make for their family.  Life insurance may be one of the most widely purchased products; yet it is a product that most consumers do not completely understand.

Life insurance is an insurance company’s promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.  There are several facts that you need to consider while you search for a life insurance carrier; 1) the price of the product, 2) the longevity of the insurance company, 3) the quality of customer service at the insurance company, and 4) the trust you have with your agent or insurance company.

Why do you need life insurance?  Whether you think about it or not, your ability to earn income is a significant asset and life insurance helps replace lost income in the event of your premature death.  The death benefit from your life insurance may be used for the following; 1) to replace income the family would need to maintain their standard of living after your death, 2) to pay off a mortgage loan and other personal or business debts, 3) to create a fund for children’s education, 4) to pay final expenses, such as funeral costs and taxes, and 5) to create a family emergency fund or a fund for a family member with special needs.

Disability Insurance

If you become too sick or hurt to work could your family survive without your income?

Would you and your family have the means to cover current debts and daily living expenses?

The financial consequences of a disability can be devastating.  You can lose your home, standard of living, credit rating, savings and other assets and most of all your peace of mind.

Disabilities are more common than you think; approximately 35% of people ages 35 to 55 suffer a disability of at least 90 days.

Your group long-term disability insurance is a great benefit, it typically covers 60% of your income, but the benefits are usually taxable.  Can you survive 42% or greater pay cut?

Common disability claims are caused by Back problems, Cancer, Cardiac Illnesses, Injuries, Nervous Disorders, Nervous System Disorders and Non-back related orthopedic issues.

Are you ready to cover the costs?
We will strive to help you with your disability insurance purchase that meets you insurance needs and fits your budget.

Additional Questions???  For more information about any health insurance products for North Carolina residents, call Advanced Benefit Plans, Inc. toll free 1-866-481-0452 or email us at info@nchealth4u.com.  We take pride in rendering outstanding service to our clients.  We will go the extra mile to make sure that you receive personalized attention, while providing all your health insurance needs.

Long-Term Care

One of our goals is to educate our clients, so our clients can make educated choices that best suit their situation.  Below are some frequently asked questions about long-term care insurance.

What is long-term care?
Long-term care is the personal care and maintenance care you may need on an on going basis in the case of a disabling or chronic medical condition or severe cognitive impairment.  Long-term care is not one service, but many different services aimed at helping people with the essential “activities of daily living”.  Long-term care is different from acute medical care.  Long-term care provides extended care including custodial care, aimed at helping people maintain their independence.  Traditional health insurance plans and Medicare cover skilled care, but not custodial care.  Long-term care is not just nursing home care there are almost 13 million people being cared for in the community either in their homes or assisted living facilities.  Long-term care does not just apply to the elderly, 39% of all people who need long-term care are under the age of 65.

Who is eligible for long-term care insurance?
Long-term care benefits are available for any person ages 18 to 85 years old, depending on health condition.  The younger and healthier a person is while applying for long-term care insurance, the lesser amount it will cost for that person.

When is it needed?
Long-term care insurance is needed when an individual requires assistance to perform the essential activities of daily living such as:  bathing, eating, dressing, toileting, transferring and continence.  An example would be when an individual suffers from severe cognitive impairment, such as Alzheimer’s disease.

Where is care provided?
Care can be provided at your home, adult day cares, assisted living facilities, hospital long-term care units, as well as  at nursing homes.

What are the risks in needing long-term care?
1 in 1200 people will have a total loss from fire; 1 in 240 people will have a major auto accident; 1 in 10 people will need hospitalization; and 1 in 2 people will need long-term care in their life time.

Who needs long-term care insurance?
Nearly 1 of every 2 individuals age 65 and over will need some type of long-term care services in their lives.

How much does long-term care cost?
National nursing home costs range from $35,000 to $80,000 per year.  Here in North Carolina, nursing home costs average $45,000 per year.  Home care services can easily exceed $100 per day.

Who pays for long-term care?
In today’s market place, when a person needs long-term care at a medical facility typically 51% are self paid or family paid; 42% are paid by Medicaid; and 7% are paid by Medicare and traditional health care insurance.

Why should I purchase long-term care insurance?
In order to protect your hard earn assts.  Long-term care insurance is a vital component of financial planning.  It also helps you to maintain your independence, as well as, guarantees quality choices should you ever need long-term care in the future.

Additional Questions?  For more information about long-term care insurance or any other health insurance products for North Carolina residents, call Advanced Benefit Plans, Inc. toll free 1-866-481-0452 or email us at info@nchealth4u.com .  We take pride in rendering outstanding service to our clients.  We will go the extra mile to make sure that you receive.

Advanced Benefit Plans, Inc. is an independent authorized producer/agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina® (BCBSNC®).  The content contained in this site is maintained by Advanced Benefit Plans, Inc.  Blue Cross and Blue Shield of North Carolina® is an independent licensee of the Blue Cross and Blue Shield Association.