Life, Accident and Health
Life Insurance
Life insurance is meant to help your family’s financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living. These policies can provide a large, income tax-free payout to help your family carry on if you pass away unexpectedly. There are a few policies you can choose from depending on your needs. Here are the 3 main types of life insurance:
Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited amount of time. There are a variety of time periods and fixed premiums, including a 1 year term to 20 years you can choose from. Term insurance premiums will not increase during the guaranteed policy time period you choose. Term Life Insurance pays a death benefit only if you die during that term. Your policy remains in force for as long as premiums are current, provided there are no misrepresentations on the application.
Universal Life Insurance is a flexible way to get a permanent life insurance policy and build cash value. This policy allows you to raise or lower you premiums within certain limits, so it can cost less than whole life insurance. As long as you keep a positive cash value amount, your coverage can not be cancelled.
Whole Life Insurance provides permanent protection from the date of policy issue to the date of the insured’s death. Premiums are set at the time of policy issue and remain level for the policy’s life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits; for example, helping pay off a mortgage, a child’s education, or cash surrender value if the policy is ever cancelled.
Everyone’s coverage is unique. Your policy is based on the information you provide, but you can always adjust the term length and coverage amount to fit your needs. Contact us today to learn how different types of insurance can provide you and your family extra financial protection.
Health Insurance
If you consider yourself healthy, you might wonder why you would want health insurance at all. This type of insurance protects you from high medical bills if you get sick unexpectedly and need emergency care, or continuing treatment. VAIG can help you find the right policy for you, whether you are an individual who only needs emergency coverage, or a family with more extensive health needs. This policy includes but not limited to doctors office visits, x-rays, blood work, hospitalization, and prescriptions.
Accident Insurance
Accident Insurance provides coverage when you suffer an injury: a broken bone, severe burn, etc. The main purpose of this policy is to allow you to focus on recovering from injury rather than focusing on finances. This policy covers things like needed testing, ambulance services, deductibles, and loss wages. While health insurance will pay for your hospital bill, accident insurance can pay for non-medical expenses like groceries, rent, or taxi service when you are not medically cleared to drive yet.