807 8th St.
Wichita Falls, TX 76301
Toll Free 800-588-1312
Seattle's Space Neetle from Dale Chuley's studio.
Whole Life Insurance: Whole Life Insurance is permanent protection that helps protect you during your lifetime starting as soon as a policy is issued by the insuring carrier, as long as premiums are paid when due. A Whole Life policy can be a solid foundation upon which to build a long-term financial strategy. The most common use of Whole Life insurnace today is for final expense planing. This kind of coverage can be purchased in amounts to help offset your funeral cost, leaving your loved ones worry free about your final wishes. Whole Life insurance is offerd to almost everone, reuardless of health conditions on a modified basis. Below is an example of what may be available.
Plan 1 Plan2
Full Benefits from the first day after Limited benefits during the first two years
the plan is issued. (2) after plan is issued.If death occurs during
This plan can have an optional the first 24 months after issue,
accidental death benefit. (additional then your premium paid plus 10% interest
premium is required for this benefit) would be payable to your beneficiarfy,
after that period the full face amount is
payable. The exception to this in most cases
would be is death was from an accident, in
which the full face amount would then be
Universal Life Insurance: This is a type of permanent life insurance based on a cash value. That is, a policy issued through an insurer where premium payments above the cost of insurance are credited to the cash value account. The cash value is credited each month with interest, and the policy is debited each month for the cost of insurance (COI) charge, and any other policy charges and fees, which are withdrawn from the cash value account. The interest credited to the account is determined by the insurer; sometimes it is pegged to a financial index such as a bond or other interest rate index . This g ives UL products flexibility allowing you to choose the amount of protection that best suits your family or business. You can increase or decrease coverage to as needs change without purchasing a new or seperate policy. ( Increased coverge is subject to underwriting requirements and decreases cannot be less than the required policy minimun. Also a surrender charge may be applied to the policy cash values after a decrease.) You also control the amount and frequency of premium payments. You have the option to increase the premium amount or even make a lump sum payment. (subject to policy limits) On the other hand, in a temporary cash crunch, you can pay less than the scheduled premium and let the cash value account take care of the remainder of the monthly charges.
Term Life Insurance: Provides coverage for a limited period of time such as 5, 10,15, or 20 years. Policies can be for a term as short as only one year or as long as 30 years. After the stated period, the insured can either drop the policy or pay an increased premium to continue the coverage. If the insured dies during the term period, the death benefit will be paid to the beneficiary. Term insurance is often the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis. It is considered to be pure insurance protection because it builds no cash value. This is in contrast to permanent policies such as whole life or universal life policies . Because term life insurance is a pure death benefit, its primary use is to provide coverage of financial responsibilities, may include consumer debt, dependent care, education for dependents, funeral costs, and a free and clear home for family .
Retirement Anunity Plans: Retirement is expensive. Experts tell us you will need a considerable amount set aside in savings, in addition to your Social Security to maintain your standard of living when you stop working. Take charge of your financial future. Take the time to learn about and plan what your retirement should look like. Find Out About Your Social Security Benefits. If your employer offers a tax-sheltered savings plan, such as a 401(k), sign up and contribute all you can. Your taxes will be lower, your company may kick in more, and automatic deductions make it easy.You can open an Individual Retirement Account (IRA) and gain tax advantages. When you open an IRA, you have two options - a traditional IRA or the newer Roth IRA. The tax treatment of your contributions and withdrawals will depend on which option you select. Also, you should know that the after-tax value of your withdrawal will depend on inflation and the type of IRA you choose. Also don’t dip into your retirement savings. You’ll lose principal and interest, and you may lose tax benefits. If you change jobs, roll over your savings directly into an IRA or your new employer’s retirement plan. Start Now,Set Goals, And Stick To Them. The sooner you start saving, the more time your money has to grow. Put time on your side. Make retirement savings a high priority. Devise a plan, stick to it, Remember, it’s never too early or too late to start saving. So start now, whatever your age! Financial security doesn’t just happen. It takes planning and commitment and, yes, money! Putting money away for retirement is a habit we can all live with. Remember … Saving Matters!
Medicare Supplement Insurance: (Not connected with or endorsed by the United States government or the Federal Mediare program) Supplement or Medigap policies are sold by private insurance companies to help fill the “gaps” in the Original Medicare Plan coverage. Gaps such as the Medciare Hospital deductible which currently is at $1,156.00 for each benefit period. They also may cover the 20% of Part B or outpatient services that Medcaire leaves unpaid. If you are enrolled in original Medicare and have a Supplement policy, then you should have 100% coverage of approved services and supplies depending on the supplement plan your select. Insurance companies can only sell you a “standardized” supplement policy. These standardized policies must all have specific benefits so you can compare them easily. An example of the plans avaliable are below:
Generally, when you buy a policy you must be enrolled in both Medciare Part A and B. You will need to pay the premium for your Medicare Part B plus the premium for your supplement. You and your spouse should have seperate policies, and one won't cover any cost for the other spouse. For additional information on MediGap policies consult your "Guide For People With Medicare" booklet or fill out the Request for a quote on our home page.
Long Term Care Insurance (Nursing Home): Long-tem care includes medical and non-medical care to people who have chronic illness or disability. Long-term care helps meet health and personal needs such as dressing, bathing, mobility, eating, and continence. Long-term care insurance may covers home care, assisted care, adult day care, respite care, nursing home care, and Alzheimer facilites. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It may pay for a visiting or live-in caregiver, or housekeeper, or therapist.
You may need this kind of care at anytime due to illness or an accident, however many never use this kind of care. Factors that may help you decide if you need Long-Term Care Insurance may include Life Expectancy- The longer you live tthe more likely you will need this kind of care. Does your family have a tendency for a long life?
Gender- Women are at a much higher risk of needing long- term care because they have a longer life expectancy and often our live their husbands.
Married or Single- If you have a spouse or adult children, you may be more likely to recieve informal care at home from family members. If family care is unavailable and you cannot care for yourself, a nursing home may be the only alternative.
Health Factors- If a cronic or debilitating health conditions run in your family, you could be at a greater risk than another person of the same age and gender.
Choosing Long-term care insurance is an important decision. Planning for long-term care requires a great amount of thought about the future possibilities. It is very important that you consider your choices before a crisis occurs. The sooner you choose the better the odds are you will beat the odds of paying to much or being forces into a bad decision. When thinking about possible future long term care needs, look at all of your choices, especially private insurance. You will have more control over decisions and be able to stay independent longer by planning early and choosing wisely. Even if you plan ahead, making long-term care decisions can be hard.
Health Plan Insurance (Individual and Employee Group) :
Health insurance is one type of insurance you're pretty much guaranteed to use. We all need medical attention from time to time, and some of us need it quite frequently. When care is needed, you want to focus on getting better not on how you're going to come up with the money to pay your medical bills. A good health insurance plan allows you to focus on what's most important, your physical well being. Is there anyone who doesn't need health insurance? Not really. Even if you're young, healthy and haven't had to see a doctor in years, you never know when you might be involved in an accident or be diagnosed with a serious medical condition. While your health insurance coverage will pay for things that aren't too costly like routine doctor's visits or lab tests, the main reason to have coverage is to have protection against the potentially catastrophic expenses of serious illness or injury. Here are some of the type of coverage available:
Health Maintenance Organizations (or HMO) With an HMO, you receive a range of health benefits for a set fee. You must choose a primary care physician from the plan’s list. This doctor becomes your “gatekeeper” for all your medical needs. This is the doctor you call or see when you are sick, and he or she will refer you to a specialist or other providers within the HMO network. With most HMO's you will not receive benefits if you go out-of-network, except for emergency care.
Preferred Provider Organization Insurance (PPO) This isn't an HMO, but it is another type of managed care. In this system, you may seek treatment from an approved network of providers, or may see other providers outside the network. Usually, you will pay small co-pay and satisfy a deductible before benefits are paid. Then you’ll pay a set co-insurance amount. It’s less expensive to visit one of the providers in the plan’s list. You can go outside the plan’s list, but your share of the bill will be higher.
Point of Service Insurance (POS) A hybrid of the HMO and PPO is known as a POS plan. Like a standard HMO, your primary care doctors make referrals to other providers within the insurance plan. But if you want to go to a physician outside the network without consulting your primary care doctor, the POS will pay a predetermined amount of the bill and your share of the bill will be higher than it would if you stay in-network. These insurance plans usually cost more in monthly premiums than a regular HMOs, but they give you more flexibility.
Health Savings Accounts Health Savings Accounts (HSAs) are a relatively new way to pay for healthcare. Like an IRA, the money deposited into an HSA is completely tax-deductible. These accounts, however, can be accessed whenever individuals need them to pay for qualified healthcare expenses. In the meantime, their money earns tax-free interest for future medical costs which allows you to get the healthcare you need when illness strikes.