Life and Health Insurance
There are many types of protection available to you and your family. Childress Insurance can help you with these important decisions.
What is life insurance, and why do you need it?
Life insurance provides financial assistance to your family or other beneficiaries, should you die unexpectedly. You need it to ensure the financial stability of a family when a breadwinner dies. This protection means your family will not have to sell their assets to cover debt.
Who needs life insurance?
You need life insurance if there is someone dependent on your income, or to pay final expenses. Also, any business owner needs life insurance to protect the company in the event of untimely death.
What is the difference between "term" and "whole life" policies?
Term life insurance provides coverage if you die within a specified period of time - the term of the policy.
Whole life insurance provides coverage for as long as you pay the premiums.
Contact us to discuss whether you need whole life or term life insurance.
What kinds of health insurance are available?
Health insurance can be broken down into two general categories: fee for service plans and managed care plans. Both cover a variety of medical and related expenses. Some cover prescription drugs or dental expenses.
Fee for service plans provide payment of some portion of the fees charged by medical professionals. Patients generally can choose the medical service provider.
Managed care plans provide incentives for patients to choose medical service providers from within a specific network of professionals. These plans provide comprehensive health services to their members. Examples of these plans include Health Maintenance Organizations (HMO), Preferred Provider Organizations (PPO) and Point of Service plans (POS).
What is an Annuity?
An annuity is a legal contract between a life insurance company (or other financial entity) and the purchaser. Annuities are designed to provide a steady stream of retirement income or to distribute funds in a manner selected by the purchaser.
Annuities are purchased by a single contribution (single premium annuity) or by a series of payments timed at the discretion of the buyer (flexible premium annuity).
The cost of an annuity depends on how much monthly income you want to receive, your age when you buy the policy and the time when you want to start receiving income. The cost will also vary depending on whether you invest in a lump-sum or in installments.
Call us at 540 394-4060 or 540 268-5733 to discuss the annuities available from Childress Insurance.