Why Do You Need Life Insurance?
This is the primary tool for helping to protect your loved ones. Too often, families must bear the burden of making drastic decisions once a family member passes away. Life insurance helps support loved ones and helps ensure that your family can live comfortably even in the most difficult times.
An unfortunate tragedy is something that families understandably don't want to think about. However, it is important to take into account the possibility of unforseen circumstances occurring. That is what life insurance is all about. It isn't the affirmation of a tragic event taking place. Rather, it's the security of knowing that after you're gone, your family and the standard of living that you worked to provide for them will be maintained.
What Does Life Insurance Provide?
The security of long-term stability for your family in the event of unfortunate circumstances is a real consideration. Life insurance helps with financial security, including:
- Financial Protection- Helps protect your family's standard of living after you're gone.
- Retirement- Know that any final expenses, replacement of lost income and an income inheritance that is tax-free can be provided for your loved ones.
- Debt- Financial obligations pertaining to outstanding debts, such as mortgages payments, can be eliminated.
- Your kids- Help ensure that your kids are financially prepared for higher education so that they may be able to provide the same security for their own families.
1. Whole Life Insurance with Mass Mutual offers permanent protection with premiums that never increase, and allows you to provide for your family even when you can’t be there for them. See the Mass Mutual Guarantees and Plan Features below. Underwritten by Mass Mutual Life Insurance Company.
Mass Mutual@ Work Whole Life comes with three guarantees:
- Guaranteed Death Benefit
- Guaranteed Level Premium
- Guaranteed Increases in Cash Value
Other features of this plan include:
- Easy Payroll Deduction with no paper bills to pay.
- Offered to benefit eligible employees on a guaranteed issue basis or simplified underwriting up to $250,000.00. Coverage offered to spouses in amounts of $25,000 or $50,000 on a simplified underwriting basis; Coverage offered to dependents guaranteed issue for $25,000.00.
- Full portability of coverage; if you leave your job or retire the plan goes with you with no rate increase.
- Owners are eligible to receive dividends. While dividends are not guaranteed, MassMutual has paid them to participating policyowners consistently since the 1860s.
We pride ourselves on offering the most competitive, well-suited benefits for employees of State Universities and Colleges in Florida.
2. Level Term Life Insurance offered through Gabor is the least expensive form of life insurance available through the University. Underwritten by Symetra Life Insurance Company.
Features of this plan include:
- Easy Payroll Deduction.
- Competitive Pricing. Level Term provides gender based ratings.
- Predictable Premiums. Premiums will not increase during your initial term.
- Customizable Coverage. Choose a term that fits your needs: 10, 15, 20, 30 years.
- Advanced Access for Illness. If you are diagnosed with a terminal illness.
- Portable Coverage. If you leave your job or retire, your policy goes with you with no increase in rates.
3. Group Term Life is a low cost life insurance policy with coverage that does not decrease with age as long as employment continues and premiums are paid. This policy is offered Guaranteed Issue with no medical exam required during the first 60 days of employment or during periodic open enrollments up to four times annual salary with a maximum limit of $200,000. Employee spouses are also eligible for guaranteed coverage up to $50,000 if payroll deducted. Underwritten by Standard Insurance Company.
How We Can Provide Everyday Guidance
Investing in life insurance isn't a suggestion that you're preparing for the worst case scenario. It's an acknowledgement of the fact that you want to take care of those you care about under any and all circumstances. Our mission is to provide Everyday Guidance, and life insurance is one of the best ways that we can accomplish that mission. Make sure that your family's future is more secure with life insurance from Gabor.
Call your local Gabor agent now to help gain an individual understanding of your employee benefits 800-330-6115 or email us here.