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3111 Builder Drive Suite 6, Lafayette, IN 47909

joe@mylafayetteinsurance.com |   765-474-2300

© 2019 Lafayette Insurance LLC

Life Insurance, Annuities, and Medical Supplements

Life Insurance

Your loved ones depend on you.  What happens if your family suddenly is without your income?  Who is going to pay the final expenses?  Mortgage payment?  A life insurance policy can help you answer these questions.  

We offer term life, whole life, and universal life insurance policies that can be customized unique to you and your families needs.  

Already have life insurance through your employer?  Group life typically ends or becomes annually renewable which could result in a significant premium change making it unaffordable.  If you own your own policy, you can control what happens is this situation.  

Life insurance usually costs much less than people think.

 

Our life companies have very simple quoting applications we can complete in a few minutes to get you an indication on rates.  

Annuities

An annuity is a investment platform that pays out a fixed stream of income, typically to retirees.  You can fund an annuity with a lump sum or making periodic contributions, this is called the accumulation phase.  The annuitization phase is the term used to describe the phase when the annuitant starts receiving payments from the annuity.  

An annuity can provide a death benefit for your beneficiary if you die before you begin the annuitization phase.  The death benefit would be either the current value or the amount you paid into it, whichever is greater.

The money in an annuity grows tax deferred and is designed to be a long term investment.  If you withdraw before age 59 1/2, the IRS implements a 10 percent tax penalty for premature withdrawal.  The tax penalty is waived if the early withdrawal is due to death.

Medical Supplements

Do you have frequent doctor's appointments or hosptital visits?  Do you have Medicare?  If you answered yes to both of these questions... you are well aware that Medicare does not cover all of the costs.  A medicare supplement helps pay for medical expenses that are not covered by Medicare.  Medicare Part A and B typically does not cover deductibles, coinsurance, or copay's, this is where a medicare supplement kicks in.  

A medicare supplement does not restrict the physician nor facility.  If your original Medicare plan covers the visit, your supplement will kick in.  

Last but not least, your coverage is guaranteed!  You cannot be cancelled for anything except non payment of premium.  With a med supp plan, you can be rest assured that your policy will do what it was designed to do.

 

Call us today for a quote, we represent multiple companies and can shop for the best rate.