Our insurance agents at The Siekmann Company look forward to help you find the right insurance product to meet you and your family's needs.
Life Insurance is one of the most important tools of a person's financial plan that is often times the most overlooked. The possibility of death can be an apprehensive discussion, but it is always important to have a plan for your family to continue an appropriate lifestyle in your absence.
Although the death benefit is one of the primary features of life insurance, there are a number of other financial benefits that can come from the purchase of such insurance. These can include:
- Income Replacement
- Wealth Accumulation
- Estate Planning
KEYMAN LIFE INSURANCE
For business owners, Keyman Life Insurance can be a valuable tool to maintaining peace of mind and providing protection on the future well-being of one's business. People are one of the most critical factors of business success, therefore there is a great need for a policy which would supplement costs in the replacement of a key employee.
Here's how it works:
A business identifies a select group of personnel -- this is the group that, if lost, would cause a significant disruption in business activity. The business would purchase a Keyman Life Insurance policy on those key individuals.
(In most situations, this is the business owner himself or another key member of the management team.)
The company would have the responsibility of paying the premiums on this policy and would be identified as the beneficiary of that policy. If the key individual would pass away, the proceeds of the policy would become assets of the company. Those assets could be used to find a replacement, pay off debt, and protect owner/financial stability.
Disability Insurance is another tool that can be implemented in one's financial plan that will provide income protection for a person's future if they are unable to work and earn in the manner/capacity they currently occupy. Many employers offer short and long term disability insurance programs for their employees, but this may not provide enough coverage for people with specialized occupations.
Many employers pay monthly premiums for Short Term Disability coverage for their employees. Many times, the premiums exceed the benefit received. We have designed self-insured STD plans that in the past have saved many of our clients a great deal of premiums. As with other self-insured benefits, you can design this plan with a weekly maximum benefit and a limit on the number of weeks benefits are to be paid. For employees that become disabled, this allows for income for the time period prior to their LTD benefits being effective. This also covers short illness, injury and maternity leave.
- Voluntary Life
- Long Term Care (LTC)
- Short Term Disability (STD)
- Long Term Disability (LTD)
- EAP (Employee Assistance) Plans