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Belcor also
provides a full-range of service on life and health insurance products.
We maintain an independent agent relationship with 40 of the highest-rated
carriers in the United States and Canada. The selection of the insurer
includes not only the amount, type and cost of the insurance contract,
per se, but how a particular insurer will underwrite the client (which
includes his/her specific health situation).
Group
Health And Life Insurance
Health products includes Indemnity, as well as the newer HMOs,
PPS, and POs. The newer systems sometimes lack the personal care of the
past. Mixing types can sometimes produce the best results for all employees
and still be cost effective. Employee contributions can be made with pre
tax dollars through a IRC 125 Plan. Long Term Disability Plans can be
partially employee contributed as well.
Individual Life and Health
We provide multiple insurance proposal illustrations necessary for
cost comparison. More important than initial premium cost, is long term
cost consideration and estate conservation. Products such as Long Term
Care, First and Survivorship Insurance, are key components of the planning
process. For additional information on our approach to planning, please
see the Estate Conservation and
Retirement Plans sections.
Consideration is also given to the Insurers' fulfilling the promise
of paying future dividends, and promised interest rates. Determining the
product to use depends on careful consideration of the needs and desires
of the client. More products exist today than before, including very low
cost Extended Period Term, Universal Life, Universal Variable Life, and
other hybrid forms.
Individual
Long Term Non-Cancelable Disability Insurance
New Contracts contain less liberal clauses
as claims increase. Existing contracts can not be changed. Furthermore,
companies with the older, more liberal contracts are very tight with new
underwriting. The older contracts are still available for those who can
qualify. Group Long Term Disability (LTD) is also experiencing higher
claims which means higher premiums.
One
approach is to add discounted non-cancelable fixed premium on top of the
group LTD.
Long
Term Care Insurance
For those who are concerned about retaining
their wealth or passing it on to their children, Long Term Care Insurance
may be the appropriate coverage. Coverage provides benefits at home, interim
care facilities, as well as nursing homes. Benefits usually begin after
a waiting or an elimination period and continue for the benefit period
that you choose (5 years, life, etc.). The amount of the daily benefit
with a cost of living rider can also be selected. Premiums may be partially
deductible. This is summarized in the Alert page.
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