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Life Insurance
One of the most devastating events that can happen in a a family's life is the death of a breadwinner without adequate insurance. There are three basic types of life insurance to consider:
Term - The most affordable, basic coverage for a specific time such as covering a mortgage for a 15, 20, or 30 year period.
Universal - Flexible permium options and face amounts. Guarantees on level premiums are available. Provides more permanent death benefits.
Whole Life - Traditional permanent insurance with premium and cash value.
Once the right type of combination of types is determined, then the correct amount is next. Here are some factors to begin the precess of how much insurance you need:
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Income Replacement
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Final Expenses
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Mortgage Payoff
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Education Funding
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Car Loan Payoff
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Endowment to Heirs
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Credit Card Payoff
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Estate Liquidity
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Personal Loan Payoff
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To calculate a preliminary face amount needed click here. The best way to make sure that you are covered adequately is to have a conversation with a financial professional like we have at Community Services, Inc. To set an appointment for an insurance review call 1-256-543-7660 ext. 2202.
Community Services, Inc. is a subsidiary of Community Credit Union and has agents licensed and authorized to conduct insurance business in Alabama. This website is in no way to be construed as an offer for the sale of insurance in inauthorized states or countries.
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Disability Income Insurance
A disabling illness or accident that results in a loss of income earning ability can be one of the most devastating personal as well as financial events in someone's life. There is a way to insure against the loss of income earning ability by purchasing disability income insurance.
Disability income insurance can be customized to fit the needs and circumstances of each individual. The maximum amount of disability benefit that is payable is based on the occupation the person is employed in and the amount of income earned. Waiting periods, benefit amount, length of benefit payment, and inflation increases are just some of the provisions that can be chosen by individuals.
Below is a hypothetical comparison of two jobs illustrating the improtance of disability income insurance:
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JOB A
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JOB B
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INCOME = $50,000
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INCOME = $50,000
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DIDN'T TAKE OUT DISABILITY INS.
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DISABILITY INSURANCE PREMIUM = $3,000 per year
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INCOME AFTER DISABILITY = 0
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INCOME AFTER DISABILITY = $33,500
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NET INCOME = $50,000
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NET INCOME = $47,000
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Which Job Would You Rather Have Job A or Job B?
Call a financial professional at Community Services, Inc. at 256-543-7660 ext. 2202.
Community Services, Inc. is a subsidiary of Community Credit Union and has agents licensed and authorized to conduct insurance business in Alabama. This website is in no way to be construed as an offer for the sale of insurance in inauthorized states or countries. back to top
Employee Group Benefits
Employee benefits are becoming more and more essential to recruiting and retaining quality people for all sizes of businesses. Group benefits include health coverage, life insurance, disability insurance, cafeteria plans, vision and dental plans. Cafeteria plans offer various products such as health, dental, vision, and cancer insurance that can be purchased by payroll deduction on a pre-tax basis saving the employee and employer money. For a free review of your benefit programs call Community Services, Inc. at 256-543-7660 ext. 2202.
Community Services, Inc. is a subsidiary of Community Credit Union and has agents licensed and authorized to conduct insurance business in Alabama. This website is in no way to be construed as an offer for the sale of insurance in inauthorized states or countries. back to top
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