Below are the most common questions that members have brought up during the course of this enrollment period regarding how to evaluate the need for Life Insurance with Long Term Care:
- Do I own a life insurance policy outside of the district?
- If not, it is good financial plan have your own policy. Having your own policy gives you more control and options to protect your needs.
- If so, is it a permanent policy? If not, you might want to think of at least owning a small $15,000 or $25,000 policy for final expenses that will last for the rest of your life.
- Does my spouse or domestic partner have their own policy? You can enroll your spouse/domestic partner without having to take coverage.
- Do I have a child or grandchild under age 25 with a disability? If so, this is your chance to purchase a policy just for them. It is a $25,000 permanent policy for only $14.75 per month that will last for the rest of their lives. They might not have another chance.
- I have tried to get Life Insurance or Long Term Care insurance but have been denied. Here’s your chance to own a policy. The special Long Term Care rider attached to the 10 year Term and Universal Life insurance policy provides the cash you need for nursing home, assisted living, home health care and adult day care.
- Did my adult children save for my grandchild’s college education? This is great way to help. Also remember, life insurance proceeds are tax-free.
All of the topics discussed in the 30 minute benefits workshops have now been uploaded to the benefits site: http://www.aftguildbenefits.com/videos.html. Email Arash Kouhi, arash@obspartners.com, directly with any questions.
After this special open enrollment, your opportunity to protect your family and have a policy without health questions will end, but you will still be eligible to enroll in the benefits programs we offer.