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Life & Disability Insurance 

Life Insurance:

 

It is for THEM - your loved ones!

 

Get instant online Life Insurance quotes using our multi-carrier online quote engine.

 

Life insurance may be one of the most important purchases you ever make for your family and no financial plan is complete without it. The tax-free proceeds from a life insurance policy can help cover the mortgage, pay for college education, continue a business, pay off debts and much more, during a time of tremendous emotional and financial stress.

There are two basic types of life insurance:

  • Term Life Insurance  covers you for a term of one or more years. It pays a death benefit only if premiums are paid and death occurs during that term. Term insurance generally offers the largest insurance protection for your premium dollar. It generally does not have a cash value feature and may not be renewable at the end of the term or it may cost considerably more to continue the coverage.
  • Permanent Life Insurance  typically has a cash value or cash accumulation account and is so named because it is meant to continue until a death benefit is paid, so long as the premium is paid to sustain the policy. There are several variations of Permanent policies: Universal Life, Guaranteed Death Benefit Universal Life, and Whole Life to name a few and each with specific features and benefits.

    A Permanent Life policy is best for you if your need for insurance will continue until your death or if you wish to have the coverage continue past a defined point where you no longer are required to pay premiums. Such policies are important for Estate Planning purposes, to provide a secure future or retirement benefits for your loved ones, or for charity purposes.

Disability Insurance:

Get more information or a quick quote by filling out our online Disability Insurance quote form.

There are two main types of disability insurance: short-term and long-term.

  • Short Term Disability Insurance (may be available only in a group setting or through voluntary group policies) - coverage typically begins within two weeks of disability and replaces a portion of your salary for a short-period of time, typically 60% to 70% and for a period of three to six months following a disability. The specific time period and percentage of replaced income varies with different policies.
  • Long-term Disability Insurance coverage typically begins after the policyholder is disabled and unable to work for one or more months. Benefits may be a set dollar amount per month but typically are payable up to a maximum of 60% to 70% of your salary. Benefits can extend for a specified number of years or until age 65 or normal retirement age, depending on the policy selected. Though policies can be costly and qualificaitons strict, this coverage can replace millions of dollars of lost wages and provide protection against financial devastation.

 

 


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Virginia Insurance Associates, Inc. is licensed to sell Inurance in
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VA), Maryland (MD), Washington DC, North Carolina (NC)
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