Life Insurance | Mortgage Protection | Medicare Supplement

Shield Insurance Solutions

Shield Insurance Solutions specializes in two area of the insurance industry; living benefit life insurance and Medicare Supplement insurance.

Living benefit life insurance is a new form of life insurance that protects the beneficiary and their family from much more than just premature death.  The old fashioned life insurance provides a benefit only on death.  If you purchases $500,000 of life insurance, your heirs will receive that $500,000 when you die.  With living benefit life insurance, that same policy will proved access to the same benefit upon death PLUS access to most* or all that $500,000 benefit if the insured gets cancer, has a heart attack or a stroke or fall victim to any major chronic illness to such a degree that he or she cannot perform two or more activities of daily living.  This activity of daily living qualification is identical to what triggers the payment of a benefit in most long-term care policies.  *We use the term “most” because many living benefit life insurance policies limit the percentage of the death benefit payed out as a living benefit to between 75% and 90% of the total death benefit.  Thus, depending on the insurance company you choose to insure you, your $500,000 living benefit life insurance would provide a benefit of between $375,000 to $450,000 in the case of a heart attack, stroke, cancer or chronic illness.  All the benefit not used before death is payed-out to your beneficiaries upon your death.

Among the great advantages of living benefit life insurance is the fact that it comes as either term insurance or cash value insurance.  In the case of term insurance, it can be used as a Mortgage Protection Insurance policy that provides protection against the unforeseen expenses related to critical and chronic illness.  These expenses account for 65% of all bankruptcies.

 As a cash value policy, living benefit life insurance has no expiration date.  In this form it can act as a great retirement tool that will supplement your retirement need plus double as a long-term care policy.  Let’s not also forget that the average age of a person who falls victim to a critical or chronic illness is just 45.  These policies can prevent the unforeseen financial consequences of a serious illness from destroying you or your family’s quality of life.

Medicare Supplement Insurance is also critical to a person’s quality of life.  Many people still believe that Medicare is free healthcare.  It’s not.  In fact, not only do we pay for Medicare in income taxes as we work, we also have to pay a monthly premium for Medicare Part B (outpatient services) as well as Part D (prescription drugs) through our retirement years.  Even more, neither Original Medicare nor Medicare Advantage offer 100% coverage.  There are still deductibles and co-pays that can add up to many thousands of dollars.

If you are fortunate enough to choose Original Medicare, you have the option of also purchasing a Medicare Supplement policy that will pay most of those deductibles and co-pays, leaving you with a maximum out-of-pocket risk of less than $200 per year.  Medicare rules and Medicare Supplement plans are changing all the time.  Our role is to keep informed of the plan features and prices available in each state we do business so that we can recommend the best plan at the best value for our clients.  That is what we do.  As a result, our typical client that is just turning 65 gets the best value available to them and saves thousands of dollars in excess premiums over their life time.  The typical new client that has an existing Medicare Supplement policy saves between $400 and a thousand dollars each year while keeping all the benefits they currently enjoy. 

Let us work for you.  You will be pleasantly surprised by what we can do for you.  If you don’t already have living benefit life insurance (the new kind of insurance) you will also be surprised to find that it cost no more than the old fashioned life insurance.  But, you won’t know until you find out for yourself.  Get a quote today!