Offers a worker a portion of their salary if they are unable to work for a short period
of time—typically 3-6 months.
of time—typically 3-6 months.
Life & Disability
Short-term Disability
Long-term Disability
Offers a worker a portion of their salary if they are unable to work for a longer
period of time—typically more than 6 months.
period of time—typically more than 6 months.
Long-term Care
A type of accelerated death benefit that can be used to pay for a nursing home,
assisted living, or in-home care when the insured requires help with “activities of
daily living” such as bathing, eating, and using the bathroom.
assisted living, or in-home care when the insured requires help with “activities of
daily living” such as bathing, eating, and using the bathroom.
Term-life Insurance
Insurance that lasts a number of years then ends. You choose the term when you
take out the policy. Common terms are 10, 20, or 30 years.
take out the policy. Common terms are 10, 20, or 30 years.
Whole-life Insurance
A type of permanent life insurance *that accumulates cash value.* Permanent life
insurance stays in force for the insured’s entire life unless the policyholder stops
paying the premiums or surrenders the policy. It’s typically more expensive than
term.
insurance stays in force for the insured’s entire life unless the policyholder stops
paying the premiums or surrenders the policy. It’s typically more expensive than
term.
