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Individual

Individual Insurance

 

 

Individual Insurance

We all hope nothing bad will ever happen to us. But if illness, injury, or a need for prolonged care does occur, insurance can help pay the bills. That means less risk of having to drain your children’s college fund or your retirement savings to cover medical or living expenses. And at your death, the proceeds of a life insurance policy can help preserve the lifestyle of your spouse, children, or parents, or provide a legacy for beneficiaries.

At Compass Consulting, we offer several kinds of financial protection against risks to your health and well-being:

  • Medical Coverage

    We offer a variety of healthcare plans from the nation’s largest insurance companies that cover doctor visits, hospital stays, and other medical expenses for you (or you and your family). Your Compass Consultant will discuss your options with you, so you can choose the coverage that suits you best.

  • Life Insurance | Get A Quick Quote

    Even if your employer provides life insurance, will it be enough for your family’s needs in the years to come? Chances are, it’s only a safety net — not a true replacement for your income. Life insurance comes in many forms to fit different financial situations and pocketbooks, as shown in the chart below. To be sure you have adequate and affordable coverage, let us help you analyze the choices before you decide.

    Type of Policy Coverage Period Death Benefit Premiums Cash Value Investments
    Term Life Specified period only (usually 1-30 years) Pays fixed death benefit May increase at regular intervals None
    Whole Life Lifetime Pays fixed death benefit Fixed annual premium for life Tax-deferred until earnings are withdrawn
    Universal Life Lifetime Affected by changes in premiums; option to add cash value to death benefit (“enhanced death benefit”) Flexible; policyholder can change payment amount & timing Tax-deferred until earnings are withdrawn
    Joint or Survivorship Life Lifetime First-to-die policy pays at death of first spouse; second-to-die policy pays when both spouses are deceased Fixed annual premium for life Tax-deferred until earnings are withdrawn

    Get a Quick quote

    Compass Quick Life matches your individual health and lifestyle profile with the best policy for you. We offer an excellent selection of personalized life insurance quotes on policies that are competitively priced and easy to apply for — all from highly-rated life insurance companies. Our representatives are licensed term life insurance specialists who provide the straight answers and personal service you need to make informed decisions.

    Get A Quote Get a no obligation Life Insurance quote

  • Disability Insurance

    Disability Insurance

    Do you need disability insurance? Consider these facts*:

    • You have a nearly 1-in-5 chance of becoming disabled for at least a year during your working life.
    • In 2009 only 48% of U.S. companies paid for long-term disability insurance for their workers, down from 59% in 2002, according to industry association LIMRA.
    • Most group policies pay no more than 60% of base salary if illness or injury prevents you from working, typically with a cap of $5,000 to $15,000 a month.

    Even if your company offers disability insurance, it may not be enough to cover the lost income you experience. Additional coverage may be needed to adequately protect you and your family.

    Compass Consulting offers disability policies that will replace a portion of your income if illness or injury keeps you from working. There are also policies that will pay your mortgage, car loan, or business expenses if you’re disabled. Contact us today to learn more.

    *“5 things to know about disability insurance” Money Magazine, June 2, 2011

  • Long-Term Care Insurance

    Long-Term Care Insurance

    As people live longer, the need for long-term care is increasingly common.  Planning ahead is important because there is a good chance you will need some long-term care services if you live beyond the age of 65. About 70% of people over age 65 require some services and the likelihood of needing care increases as you age.* This kind of custodial care, whether provided at home or in a facility, is not usually covered by Medicare. But long term care isn’t just for the elderly; younger people often face extended rehabilitation after car accidents or joint replacement.

    What is long-term care?

    Long-term care refers to a wide array of medical care, personal assistance and social support services for people who are physically or mentally unable to independently care for themselves for an extended period of time. Individuals needing long-term care require assistance performing basic activities for daily living or suffer from severe cognitive impairment. Generally, the disabilities requiring long-term care are caused by accidents, illnesses or advanced age.

    A long-term care insurance policy covers any or all of the following types of services:

    • Nursing home coverage
    • Assisted living facility coverage
    • Adult daycare center coverage
    • Home health care coverage
    • Personal care coverage

    Comparing individual versus group policies

    Long-term care insurance is a growing trend in the employee benefits arena, being used to help attract and retain top performers. A recent survey revealed that 45 percent of companies now offer group long-term care insurance to their employees as a voluntary benefit. However, if employers and associations offer group long-term care insurance to employees, the policy may not offer the same level of protection provided by individual long-term care insurance policies. Before purchasing a group policy, it’s wise to compare the level of protection offered versus the level guaranteed in comparable individual policies.

    Individual policies are generally purchased by people whose employers do not offer a group policy or those who feel that they need to supplement their employer’s policy to obtain the most coverage possible in the event they need long-term care assistance.

    Let Compass Consulting help determine if long-term care is right for you

    We offer plans that can help protect you and your family from long-term care’s devastating financial impact. Our consultants can help you determine whether you need long term care coverage and how much is needed to protect you and your family. Premiums are generally determined by the employee’s age at the time of enrollment and the benefits provided by the policy. The sooner you buy, the lower your premiums — so contact us today.

    *Source:U.S. Department of Health and Human Services at www.longtermcare.gov

Wealth Management

You’ve worked hard for your money – and you want to make the most of it. But with so many investment choices, it’s hard to know where to begin. Let Compass Financial Services guide you in achieving your financial goals. Our investment consultants have the knowledge to navigate today’s investment choices and select those that are best for you and your family. And we’ll continue to work with you, monitoring your investments and goals as your needs and market conditions change. Using our holistic approach, we discuss your goals, investment style and your entire financial picture when developing your plan. And with our unique expertise in insurance, we help make sure you and your family have the assets and protection needed for a secure future.

We offer our clients a comprehensive suite of services, including:

  • Financial Planning
  • Estate and Income Tax Planning
  • Insurance Planning
  • Investment and Retirement Planning

Contact us today to speak with a Compass Financial representative to start your planning your future today