Individual Life &
Health Insurance
Looking for individual life insurance that can protect your assets? Consider our term policies.
Term Life
Term life insurance policies provide essential coverage for individuals looking to protect their loved ones financially in the event of their untimely death. These policies are designed to offer straightforward, affordable, and temporary coverage, typically spanning 10, 20, or 30 years. With term life insurance, you pay regular premiums for the specified term, and if you pass away during this period, your beneficiaries receive an income tax-free death benefit.
Term life insurance is an attractive option for those seeking maximum coverage for a fixed budget, making it an ideal choice for young families, individuals with outstanding loans or mortgages, or those wanting to safeguard their children’s educational expenses. Furthermore, term policies are flexible and can be tailored to suit your specific needs, with options to add riders for enhanced protection. When your term expires, you can choose to renew or convert your policy, but it’s essential to understand that premiums may increase upon renewal. Overall, term life insurance offers peace of mind by ensuring financial stability for your loved ones during critical years. At MBI, we believe in empowering our clients to make informed decisions about their finances; we encourage our clients to consider all of their options and make the choice that’s right for them.
Whole Life
Whole life insurance policies offer comprehensive financial protection for policyholders and their beneficiaries. Unlike term life insurance, which provides coverage for a set period, whole life policies provide lifelong protection. One of the key features of whole life insurance is the cash value component, which grows over time as you pay your premiums and earn a guaranteed rate of interest. This cash value can be accessed during your lifetime and used for various financial needs, such as supplementing retirement income, funding education, or covering emergency expenses.
Moreover, whole life insurance policies offer a death benefit that is paid out to beneficiaries income tax-free, ensuring your loved ones are financially secure when you pass away. Whole life insurance is often considered a long-term investment that can provide income protection for you and your family. While premiums for whole life policies tend to be higher than term life, the financial security and cash value growth make them a valuable option for those looking for permanent coverage and a way to build wealth over time. Additionally, whole life policies may also offer dividends or other investment opportunities to further enhance your financial protection.
Long-Term Care (LTC)
Gone are the days where you can live off social security income and enjoy a fully-covered retirement; aging in America is now a financial event. Long-term care insurance provides financial protection and peace of mind as you plan for your future. By taking out these policies early, you secure several vital benefits. Long-term care insurance covers the costs associated with extended healthcare needs, such as nursing home care or in-home assistance, which are not typically covered by health insurance or Medicare. Starting early allows you to lock in lower premiums while you’re in good health, ensuring affordability.
Activities of Daily Living (ADLs)
Long-term care insurance typically comes into effect when you have difficulty performing a certain number of daily activities independently. These ADLs include bathing, dressing, eating, toileting, transferring, and continence.
Instrumental Activities of Daily Living (IADLs)
In addition to basic ADLs, some policies also consider IADLs. These encompass more complex tasks like managing finances, cooking, housekeeping, and medication management.
Waiting Period (Elimination Period)
Many policies have a waiting period before benefits kick in. This is the initial span during which you cover your care expenses. Once the waiting period is over, your long-term care insurance starts providing financial assistance.
Physician’s Certification
Typically, a physician’s certification is required to confirm that you require assistance with your ADLs or IADLs to trigger your policy’s benefits.
Covered Services
The type of care and services covered by your policy may vary. It can include care in nursing homes, assisted living facilities, home care, adult day care, and hospice care.
Benefit Amount
Your policy will specify the maximum daily or monthly benefit amount you’re entitled to, helping you plan for your long-term care expenses.
Dual Purpose
An LTC Hybrid Plan serves a dual purpose. It provides coverage for long-term care needs, ensuring you’re protected in the event of health challenges that require extended care. Simultaneously, it also acts as a life insurance policy, offering a death benefit or income in case long-term care isn’t needed.
Flexibility
These plans offer flexibility and adaptability. If you require long-term care, your policy provides the necessary financial support to cover the associated costs. If you never need long-term care, your beneficiaries receive an income tax-free death benefit or an income stream, ensuring your financial legacy.
Asset Protection
LTC Hybrid Plans safeguard your assets, preventing the depletion of savings to cover the costs of long-term care. They provide a way to maintain your financial security while addressing potential health care expenses.
Peace of Mind
By investing in an LTC Hybrid Plan early, you can secure coverage at a time when premiums are more affordable and take the uncertainty out of your future healthcare needs. It’s a proactive step toward ensuring financial security for both you and your loved ones.
Disability
In a world where insurance covers everything from pets to possessions, one essential aspect often goes overlooked: safeguarding your paycheck, the cornerstone of your financial stability and livelihood. This is where income protection/disability coverage comes into play, providing a vital safety net for your financial well-being.
Short Term Disability Coverage: Your Financial Safety Net
Short-term disability coverage is a vital financial safety net that provides income protection for up to six months during unexpected life challenges. This type of insurance ensures you receive a portion of your salary when you’re unable to work due to a temporary disability, injury, or illness.
Whether it’s recovering from surgery, managing a medical condition, or welcoming a new family member, short-term disability coverage offers peace of mind. It bridges the income gap during these critical periods, allowing you to focus on your recovery or caregiving responsibilities without financial stress.
With short-term disability insurance, you can receive benefits quickly, ensuring your financial stability while you’re unable to work. This coverage is invaluable for employees, self-employed individuals, and small business owners, providing a safety net for unexpected health-related absences.
Secure your financial well-being by exploring our short-term disability coverage options. Protect yourself and your loved ones from the financial impact of unforeseen disabilities and maintain peace of mind in times of need.
Long Term Disability Coverage: Safeguarding Your Financial Future
Long-term disability coverage is a crucial safeguard for your financial well-being when faced with a prolonged inability to work due to a severe illness, injury, or disability. This insurance provides you with a steady stream of income when you’re unable to perform your job for an extended period. Long-term disability picks up where short-term disability leaves off, i.e., six months and beyond.
With long-term disability insurance, you can focus on your recovery and daily needs without the burden of financial uncertainty. It acts as a financial lifeline, helping you maintain your standard of living, pay essential bills, and support your family during a challenging time.
Long-term disability coverage is suitable for individuals in diverse professions and life stages. By ensuring you have this safety net in place, you’re prepared for the unexpected, offering you and your loved ones peace of mind. Discover the advantages of long-term disability coverage and protect your financial future by exploring our comprehensive options.
Individual Health
Discover the ultimate in health coverage, personalized for your unique needs, through the Affordable Care Act (ACA). We believe that your well-being should be your top priority, and ACA Individual Health Plans are designed to make it more accessible than ever. Here’s why you should consider enrolling
Tailored for You
Our ACA Individual Health Plans offer flexibility and a variety of options, ensuring you find the plan that aligns with your lifestyle, budget, and health requirements.
Comprehensive Coverage
Enjoy the peace of mind that comes with comprehensive medical, dental, and vision coverage. From routine check-ups to unexpected health challenges, our plans have you covered.
Financial Peace of Mind
We understand that healthcare can be a significant expense. With ACA Individual Health Plans, you’ll have access to premium subsidies and tax credits, making quality health insurance more affordable.
Personalized Guidance
Navigating the world of health insurance can be complex, but our expert team is here to provide guidance and support, helping you make informed decisions.
Retirement
As a benefits expert, I am surrounded by reliable, experienced professionals that can support our clients with traditional retirement planning. Let’s discuss how best to refer you based on your needs.
MBI can, however, help you enhance your retirement preparation by exploring innovative options like the Infinite Banking Concept and other alternative strategies. These solutions provide clients with a unique way to secure their financial future by combining the benefits of both insurance and retirement planning. By integrating these approaches, individuals can achieve financial security, grow their wealth, and prepare for retirement while ensuring comprehensive health coverage.
By working with an individual health and benefits company that offers a holistic approach to financial planning, you can secure not only your health but also your financial future. These alternative retirement planning options provide clients with the flexibility, control, and potential for lasting financial security that traditional retirement plans may not offer.
