Individual Insurance and Family Insurance
We assist individuals and families with finding insurance coverage that fits their needs. Our individual insurance services include:
- Life Insurance
- Disability Income Insurance
- Long Term Care Insurance
Life Insurance: Planning Today for Tomorrow
Life insurance can be a source of funds for your spouse, children, business partners or other beneficiaries during an extraordinary time of change.
Your Life Insurance Options
There are two main types of life insurance available: term and permanent.
- Whole Life – Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.
- Term Life – Term Life policies provide coverage for a specific amount of time – such as 5 years, 10 years or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
- Universal Life – Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.
- Variable Universal Life
- Survivorship Life – Survivorship life insurance – available as whole life, universal life or variable universal life – covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.
Disability Income Insurance
We Want to Protect Your Life’s Work
We offer the disability protection solutions you need to help plan for the unexpected and protect what you’ve worked so hard to build.
Why is disability insurance important?
Your chances of being disabled for longer than three months are much greater than your chances of dying prematurely, due in part to medicine that has made many fatal illnesses treatable. Although this is good news, it increases your need to protect your income with disability insurance. Consider what might happen if you suffered an injury or illness and couldn’t work for days, months, or even years.
What is it?
The aim of disability income insurance is to replace your income if you’re unable to work due to a serious illness or injury. Typical policies replace 50 to 70 percent of your pretax earnings.
Evaluation and comparison process
In evaluating policies, you should compare them according to the following four criteria: (1) how each policy defines disability, (2) the base and optional features each policy offers, (3) the cost of each policy, and (4) the insurers’ financial strength and claims practices.
What is long-term care?
Let’s face the truth: people live longer these days. While that is a positive thing for most, the likelihood of long-term care increases as you age. The rising costs of nursing homes, home care and assisted living facilities may have your family asking the question; how will you afford to care for your well-being long term?
Most people associate long-term care with the elderly. But it applies to the ongoing care of individuals of all ages who can no longer independently perform basic activities of daily living (ADLs)–such as bathing, dressing, or eating–due to an illness, injury, or cognitive disorder. This care can be provided in a number of settings, including private homes, assisted-living facilities, adult day-care centers, hospices, and nursing homes.
It is important that you shop around and compare different carriers and types of policies. The Associates at Montoya & Associates will quote, compare and sit down with you and your family to make sure you are purchasing a policy that fits your needs.