- Why would I need disability income insurance?
- What is life insurance?
- What companies does P&I
Represent?
You may not. Answer these two questions:
(1) If you were to become disabled tomorrow due to sickness or an accident, and
your income stopped, would you continue to live without financial difficulty?
(2) How long could you make ends meet without a regular paycheck coming in:
a month, three months, three years?
You may have savings to live off of, property or assets that you could sell,
a spouse that will support you or another source of money to rely on.... at
least for the short term. Most people, however, would wind up with serious
financial problems if an injury or illness cuts off their paycheck for more than
a few weeks.
Disability income insurance insures that you have money coming in on a
regular basis in the event you become disabled and unable to work. Everyone has a
unique lifestyle that will determine the plan and coverage he/she qualifies for.
Contact P&I about a plan tailored
for YOUR needs.
Life insurance is a contract between you and an
insurance company and is a way to protect your family in case of your death, by
providing funds to pay outstanding bills, taxes and income loss. Under a Term
Life contract, the insurance company promises to pay your beneficiaries a sum of
money in the event that you die within a period of time defined in the contract
(such as 5, 10, 15, 20 or 30 years). Under a Permanent Life contract, a portion
of the money you pay in premiums is invested in a fund that earns interest on a
tax-deferred basis. Over time, your policy will accumulate a "cash value" that
you can use. For instance, you can borrow against the value of your policy.
Moreover, you can design a Permanent Life contract that will accumulate enough
cash so as to be "paid up" by a certain age (e.g., "Paid Up Age 65").
Your need for life insurance can change over a lifetime. At any age, you
should consider your individual circumstances and the standard of living you
wish to maintain for your dependents. In most cases, you need life insurance
only if someone depends on you for support. Your life insurance premium is based
on the type of insurance you buy, the amount you buy and your chance of death
while the policy is in effect.
Types of Life
Insurance:
A partial list of companies we represent includes:
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Professional &
Industrial