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At Lott & Gaylor, we are committed to
health insurance for both our commercial customers, who need group
coverage for their employees, as well as the individual or family
that needs coverage.
With the changing face of health
insurance in today's market, we at Lott & Gaylor are staying abreast
of the latest developments that will affect the coverage you expect
as well as the cost impact upon you.
We have the best health insurance
markets available in our area, and we will always present to our
customers the best options at the best price available.
Individual Disability Income
Protection is a must for a business owner, and highly recommended
for executives. If you are a business owner, you should consider
purchasing both group and individual policies, if possible. As an
executive, you should be sure to obtain group coverage if it is
available. Only fourty three percent of large companies provide
group long term disability insurance.
Your chances are even less likely to
get long term disability insurance if you work for a small company.
The cost of a plan provided by your employer is usually less than
you would pay for an individual disability policy and often you can
get coverage automatically without having to qualify medically. If
your employer doesn't provide disability insurance then you may want
to consider an individual disability policy.
Or, you may need a personal disability insurance policy to
supplement an employer group plan. Be sure to check the group
provisions carefully: How long does the group disability insurance
coverage last? How much is the benefit? Does the disability
insurance policy cover bonus and commission income? Will the
coverage continue if you leave that employer?
A typical Individual Disability
Income Protection plan starts to pay benefits after you have been
off work for 1 to 6 months, and pays benefits for several years or
until retirement age, depending on the policy.
Individual health insurance programs
are designed for individuals and families who cannot obtain health
insurance through an employer. Due to the continually rising cost of
medical care, it has become more important to provide health
insurance for you and your families. Lott & Gaylor offers health
insurance programs to individuals which offer extensive coverage as
well as high-deductible programs which are designed to protect
against catastrophic financial losses.
As an independent agency, Lott &
Gaylor can provide insurance plans from numerous health insurance
companies. With the health insurance market changing frequently, we
are always on the lookout for quality, service-oriented insurance
companies for our clients.
Life insurance from Lott & Gaylor can
help you secure your family's financial future by providing the
funds they need to: cover burial expenses, uninsured medical bills,
pay off your mortgage and other outstanding debts, and maintain a
comfortable standard of living.
There are a variety of life insurance
policies that we can provide. The kind of policy you choose depends
on your needs:
Term Life
Term Life Insurance is a low-cost
way of providing maximum coverage for your family. Protection is
provided for a limited number of years. The insurance expires
without value if the insured lives beyond the policy period,
usually 5 to 20 years. Other policy life periods are available,
including 1 year annual renewable term.
Term insurance premiums will not
increase during the guaranteed policy time period (term) you
select. Term Life Insurance pays a death benefit only if you die
during that term. Term insurance generally provides the largest
insurance protection for your premium dollar.
Term Life Insurance remains in
force for as long as premiums are current, provided there are no
misrepresentations on the application. The insurance coverage
terminates if you discontinue your premium payments.
Universal Life
Universal Life is characterized by
great flexibility. Policyholders can determine the amount and
frequency of premium payments - i.e., the more you pay, the less
time you will need to pay. Your premiums cover the insurance part
also the savings or investment element and the expense part. The
stated interest on the investment portion changes along with
movement in interest rates; moves in 1/4 % interest steps are
typical as banks and other financial institutions make similar
moves.
Whole Life
Whole Life Insurance provides
permanent protection for the whole of life - from the date of
policy issue to the date of the insured's death, provided that
premiums are paid. Premiums are set at the time of policy issue
and remain level for the policy's life. Unlike term insurance,
whole life combines insurance protection and savings or cash value
which builds over time. Cash value build-up may provide a source
for living benefits, for example, helping pay off a mortgage, or a
child's education, or cash surrender value if the policy is ever
cancelled.
Other Life Insurance
Other Life Products for estate
preservation or survivorship purposes are also available - i.e.
life insurance benefits to cover federal estate taxes.
Your key employees are your most
valuable business asset. Their skill, knowledge and experience are
your real profit makers. Without them, the success and growth of
your business could be in jeopardy. Key employee insurance is
designed to protect your business from the adversities associated
with the loss of a key employee, manager or executive. The death or
disability of a key employee could result in a substantial financial
loss due to hiring and training a replacement, lost sales, and/or
slowed production.
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