Voluntary Benefits
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Voluntary Benefits

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Voluntary Benefits Voluntary Benefits Presentation Transcript

  • A solid financial foundation can keep your future from falling through the cracks. Slone & Associates, Inc. Building a Financial Investment PYRAMID Through Voluntary Benefit Programs
  • Why We Are Here?
    • Most employees don’t have the time,
    • or don’t have access to information to secure and maintain their
    • financial future .
    • We are taking voluntary benefits
    • to the next level by helping
    • our Medicorp employees
    • build a financial foundation.
  • If You Don’t Have A Foundation for Your Financial Pyramid … Your Hard Earned Savings Could Disappear! Estate Planning Managing your retirement Growing Your Investments IRA, Savings, 401K Foundation to support your investments!
  • Is Your Financial Pyramid Safe From Life’s Uncertainties? The base tier of the pyramid represents the foundation of a sound financial plan. The function of this tier is to “guard against life’s uncertainties,” primarily with insurance. With adequate coverage, a family can be protected against unexpected occurrences in life that might otherwise create a financial hardship. Estate Planning Managing your retirement Growing Your Investments IRA, Savings, 401K The bricks of your Financial Foundation Home & Auto Ins. – Health Ins. - Life Ins. Disability Ins, - Long Term Care Ins. Supplement Ins. (Accident, Critical Illness, Cancer) Legal Documents (Wills & Trusts)
  • What Part of Your Financial Foundation Needs Improving?
    • Disability Insurance
      • Average disability lasts 18 months.
      • Disabilities are the cause of 42% of all foreclosures in the U.S.
      • Waiting time to apply for S.S. Disability Income is 6 months.
      • 80% of all SSDI applications are rejected on the first submission.
    • Life Insurance
      • Life insurance amount should be 10 times earnings .
      • Life insurance on a stay at home parent with small children should be equal to the expense needed for full time care until the child/children reach elementary school.
      • Setting up a final expense program during working years will save money in the future and guarantee coverage when you most need it.
      • Final Expenses - $7,500 to $10,000 in today’s dollars.
    • Long Term Care
      • 50% chance of a married couple needing Long Term Care after age 65.
      • 40% of persons receiving long-term care are between 18 and 64.
      • "More than half of all women and a third of all men will spend time a nursing home." The Wall Street Journal
  • Critical Illness Why purchase Critical Illness Insurance? Cancer, heart attack, stroke, or renal failure the requires dialysis, are all life changing events. Medical coverage will help your participants with a large portion of the medical expenses associated with the treatment of critical illnesses. But what about the out-of-pocket medical expenses? What about the expenses associated with a life changing event such as paralysis from a stroke? Will medical insurance, life insurance, or disability insurance pay for the construction of a wheelchair access ramp on the participant’s home? Group Critical Illness insurance provides a lump-sum benefit to help cover out-of-pocket medical expenses and the costs associated with life-changes following a covered critical illness.
  • Foundation Building Coverage's being made available!
    • Univeral Life Insurance w/Riders- Conditional Guaranteed Issue
    • Long Term Care Rider, if an employee buys a $50,000 life insurance policy, the Long Term Care Insurance is $100,000, payable if care is received at home or in a facility.
    •   Spouse and child riders available. Spouse can apply without employee applying.
    • Waiver of Deductions for Layoff (Premiums paid for up to 6 months)
    • Waiver of Premium (Premiums paid until age 60 if totally disabled)
    • Opportunity to increase their life insurance without evidence of insurability.
    • Terminal Illness Accelerated Death Benefit Option Rider
    • Children’s Level Term Life Insurance Rider
    • Cash Accumulation
    • 100% portable at the current cost and coverage amount
    • Short Term Disability Insurance
    • You will be able to purchase disability insurance to cover 60% of your pre-tax earnings.
    • Critical Illness
    • Group Critical Illness insurance provides a lump-sum benefit to help cover out-of-pocket medical expenses and the costs associated with life-changes following a covered critical illness. 100% portable at current cost and coverage amount.
  • Take the Time to Review!
    • We highly recommend that if you have a spouse, to please consult with them regarding these new benefits.
    • Questions:
      • Do you and or your spouse have life insurance that will last for the rest of your life? Is so, do you have enough?
      • What type of disability coverage you have besides worker’s compensation?
      • Critical Illness can be used for many types of expenses including income replacement. Since the disability insurance is only for the Medicorp, Inc. employees, does it make sense to purchase critical illness for my spouse, if he or she does not have disability insurance through their work?