Life is expensive when you’re healthy.
AskNoah what happens when you’re not.
I’d like to help you plan ahead for Difficult Times.
Everyone says they will help…until the help is needed. Let me help you.
Critical Illness Insurance—The insurance company pays you a one-time lump sum if you or your dependents are diagnosed with an illness listed on the insurance policy (strokes, heart attacks, cancer, and more). (NO MEDICAL EXAM REQUIRED)
The most common illnesses covered are heart attacks, stroke, and cancer.
-In 2020, 1.8 million people were diagnosed with cancer in the United States, according to Cancer.org.
-In 2018, strokes accounted for about 1 of every 19 deaths in the United States, based on the American Heart Association.
–Every year about 805,000 people have a heart attack as indicated by the Centers for Disease Control and Prevention.
The financial impact of either of these illnesses can be devastating. Health insurance may not cover all the medical costs and does not assist with any income loss.
For more information on Critical Illness Insurance: https://asknoahk.com/critical-illness/
Final Expense Insurance—”No frills and just enough” to cover end-of-life costs. More reliable than setting up a GoFundMe page. (NO MEDICAL EXAM REQUIRED)
I think we’ve all shared an experience of losing an older relative. One of the first questions everyone asks is “Did they have insurance?” In most cases, they didn’t. They were either considered “too old” by the insurance companies or had too many health conditions and decided not to apply. Friends and family end up having to come together and help pay for end-of-life costs such as a funeral service, burial, casket, urn, tombstone, and final medical bills. On average, $7,000 has to be raised to cover everything.
For more information on Final Expense Insurance: https://asknoahk.com/final-expense-insurance-2/
Disability Insurance—One illness or injury can affect your ability to earn a living. Protect your paycheck. The insurance companies will insure your paycheck as long as you can verify that it is steady and consistent.
If you need a leave of absence from work due to medical necessity, what is your plan for paying your living expenses (housing, utilities, groceries, loans, child care)? Do you have enough savings if your Leave of Absence lasts more than 12 months?
Budgeting 1%-3% of your annual salary can payout up to 70% of your annual salary if you need extended time off from work due to illness or injury.
For more information on Disability Insurance: https://asknoahk.com/disability-insurance-overview/
Long-Term Care Insurance—Everyone gets older, and some people will need help performing basic activities of daily living (eating, bathing, moving around, etc). Plan ahead to get quality care in the comfort of your own home.
How will you pay for care later in life when you are out of the workforce and need it most? The CDC states that life expectancy for people living in the United States is 75 for males and 80 for females. Medical advances are allowing people to live much longer. The average home health aide costs about $25 an hour. If you need an aide for 30 hours each week, you would have to pay $3,000 each month in addition to your regular expenses. Can you afford that today? Planning for the effects of aging can greatly improve your quality of care.
For more information on Long-Term Care Insurance: https://asknoahk.com/long-term-care-insurance
“If anyone tells you getting insurance is not a good idea, ask them if they will help you financially when you need it the most. Get it in writing, ask them to sign, and watch them change their mind.
AskNoahK
Everyone has something to say, but no one wants to help pay.”
Prospective Client Scenarios
These are fictitious characters with common scenarios
Client Profile
Name: Susan Muffin
Age: 25
Occupation: Software engineer
Debt owed: Student loans, auto loans, credit cards, etc.
Suggestion: Disability Insurance and Critical Illness Insurance
Protection: Income and savings are protected from illness or injury.
Injuries that can affect work: Any internal or external damage to fingers, hands, arms, shoulders, etc.
Illnesses that can affect work: Arthritis, breast cancer, ovarian cancer, cervical cancer, lupus, nerve damage, etc.
Client Profile
Name: Jason Smores
Age: 38
Occupation: Freelance UX designer
Debt owed: Mortgage, auto loans
Additional comments: New parent
Suggestion: Disability Insurance for himself and Critical Illness Insurance for his family
Protection: Income and savings are protected. The parent is financially responsible for all child medical bills until the child turns 18 years old. If the child is diagnosed with an illness listed on the Critical Illness Insurance policy, the insurance company will provide a one-time lump sum payment to Jason. The money can be used to assist with non-medical costs or to help pay for what is not covered by health insurance.
Client Profile
Name: Barry Brioche and Rebecca Brioche
Age: Barry (61), Rebecca (55)
Occupation:
1. Barry—Construction manager
2.Rebecca—High school English teacher
Additional comments:
1. Both have 401k plans
2. Term Life Insurance policy not renewed after mortgage paid off because of high premiums at renewal age.
3. Both plan to self-insure for custodial care later in life.
4. Adult children
Suggestion: Long-Term Care Insurance and Final Expense Insurance
Protection: Their retirement is protected. Long-term care costs can range from $1,000-$10,000 each month, depending on severity. Final Expense Insurance can provide up to $25,000 to their beneficiaries to pay for burial costs. This will alleviate the burden on adult children.
Client Profile
Name: Claudia Tiramisu
Age: 68
Occupation: Retired. Plant mom & cat mom.
Additional comments:
1. Widowed
2. Currently living off retirement
3. No active end-of-life insurance
4. Currently has a Long-Term Care Insurance Policy
5. Adult children
Suggestion: Critical Illness Insurance & Final Expense Insurance
Protection: Her retirement savings will be protected. The insurance company will provide a one-time lump sum payment to Claudia if she is diagnosed with a critical illness listed on the policy (including stroke, heart attack, or cancer). Final expense insurance can provide $5,000-$25,000 to her beneficiaries to pay for funeral and burial costs.
If you would like to donate, the links and QR codes are listed below.
