Pinnacle Life & Health Solutions

A Division of The Reardon Agency

Life Plans for Peace of Mind

It’s no secret that life insurance plans, whether it’s for you, your family, or your employees, can seem overwhelming. Our agents keep a finger on the pulse of life insurance so that we understand the changing climate of life insurance in CT.

Life Insurance Coverage

Life insurance is an essential part of financial planning. It is designed to provide a death benefit to the policyholder’s beneficiaries in the event of death. The benefit can then be used to pay for funeral expenses, pay off remaining debt, and replace the loss of family income. Generally, there are two types of life insurance.

Term Life Insurance

The policyholder will be insured for a determined period of time, for example, 5, 10, 20, or 30 years, and the premium is fixed for that period. If the policyholder dies within this time, the death benefit will pay out. If the policyholder does not pass away within this time, no benefit will be paid, and he/she will have the option to renew their policy.

Permanent Life Insurance

The death benefit is paid out regardless of when the policyholder dies. Although generally more expensive than Term Life insurance, Permanent Life Insurance is more flexible which can be designed to accumulate tax-deferred cash and surrender value that you can borrow against.

Individual Dental Insurance

Regardless of your age, Dental coverage is available to individuals and families. There are many cost effective options available for individuals and their families that can provide peace of mind. If you would like more information please contact us so that we can assist you in deciding what coverage will be right for you.

Over 65

When you turn 65, you are automatically enrolled in Medicare Part A (hospitalization) unless you request to be disenrolled, as long as your work history is sufficient. If you qualify, Part A is provided to you at no cost. At that time, you will also be enrolled in Part B, which primarily covers physician services. Part B has a monthly premium, which is paid to the Social Security Administration. If you choose not to accept Part B, due to having other health insurance coverage, you must inform Social Security and return the original card they sent you. They will then send you a new card for Part A coverage only.

In addition, if you do not have other prescription drug coverage, you must enroll in Part D coverage, or face a penalty for late enrollment.

Because Part A and Part B have deductibles and co-insurance, you may wish to enroll in a Medicare Supplement policy to cover those deductibles and excess Part B charges.

Another option is to enroll in a Medicare Advantage plan, which replaces Medicare as your primary insurance. It must cover everything that Medicare does, but you will be responsible for co-payments and a deductible. The majority of these plans include drug coverage. However, there is a plan available without drug coverage should you be covered elsewhere.

Navigating the Medicare options can be daunting. We are here to help. Please contact us by email or calling our office to schedule an appointment to review your options.

Group Insurance

Did you know that Health Insurance is the third most important benefit that employees look for when seeking employment? Offering Health, Dental, Life, Disability or Long Term Care insurance will help you generate the best pool of applicants for your business.

For all Group coverages, Employers can choose whether their employees pay some of the costs of the coverage or if the costs of the premium will be borne by the company.

Businesses with one employee, or many, can get group coverage. If you don’t have a group plan now, we can help. If you do have a group plan, we can look at your current plan, and offer suggestions that may save you money, while still providing this all-important coverage.

If you would like more information about the products listed above, please contact us so that we can assist you in deciding what coverages may be right for you.

Group Health

Today’s employees know the value of Health Insurance coverage. Many will be coming to you from a company that had health insurance, or the individual may have coverage of their own. If you own your own business, you may be eligible for a group plan (or an individual plan, depending on your circumstances). Whatever those circumstances are, we can offer you options to suit your budget and your coverage requirements. Contact us today for more information about your options.

Group Dental

Group dental coverage can be an inexpensive benefit offering for your employees. It can be offered as part of a package of ancillary coverages that includes Life and Disability, or as a standalone product. Some companies offer a discount on the dental coverage if another coverage is also purchased.

If you are interested in more information about this coverage, please contact us.

Group Life

Group life insurance is a very affordable coverage. Groups of 3 or more enrolled members can get term life insurance (amounts of coverage can vary), sometimes with no underwriting (guaranteed issue). It can be issued separately. Contact us to see if this coverage is right for your company.

Group Disability

Group disability coverage, short term or long term, is available for groups of 3 or more. 20 to 25 percent of workers will be disabled, even for a short time, during their lifetimes.  The coverage will activate for any illness or accident, not just those that are work related.  The premium is relatively low, but the income protection the coverage provides to your employees is invaluable. Either coverage is usually packaged with Life and Accidental Death and Dismemberment (ADD) coverage.

Group Long Term Care

Americans enjoy one of the longest life spans in the world, but, as we age, there is sometimes a need for specialized care due to illness or injury.

Many people assume Medicare or Health Insurance will pay for their ongoing care, but this is not the case.

Long Term Care Insurance (LTCI) can provide the financial support needed to allow you to have the care you need, at home or in a facility, while preserving your savings.

There can also be tax advantages for employers who purchase LTCI.  No matter what your current age, please contact us for more information.

Group Insurance

Travel Medical And Trip Cancellation Insurance

Most insurance policies offer a limited benefit for medical emergencies while overseas. However, for complete peace of mind, we offer GeoBlue Travel Medical & International Health Insurance. These policies can cover you for one trip, or multiple trips, can cover a group of travelers, or provide long term coverage if you will be residing overseas. In addition, the GeoBlue program gives you access to their member services department, to assist you while you are traveling. If you need trip interruption/cancellation insurance, there is a policy that combines both.

Please contact us or click here to learn more about this valuable coverage.

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We look forward to helping you develop an insurance plan that protects you, while meeting your financial needs.