Standard Life & Accident Insurance Company offer a wide range of insurance policies designed to meet the needs of people who have investments or business ventures. As with many other insurance providers, they also offer insurance policies to protect themselves in the case of unexpected injury or death.
Standard Life & Accident (SLAICO) offer different types of coverage and have several lines of protection including: Home & Auto, Health & Life, Annuities & Endowments, Structured Settlements, Annuity & Variable Annuity, Term Life & Whole Life, and Life Insurance. The following paragraphs provide a brief review of each of the policy types. The High Deductible Option in their Health & Life plan is the most popular of these plans.
For individuals or small business owners who have investments in their business, Health & Life provide many different plans designed to meet the needs of those who have investments in a business. These are the Health and Life Coverage Plan (HLC), Premium Adjustable Premium (PAP), and HMO/PPPO.
For those who have investments or business ventures, the Health & Life Plans are the plan of choice because of the high deductible offered and the option to purchase a Term Life Insurance policy. It can also provide protection against accidental death. In addition, the HMO or PPO coverage is a great option for individuals who do not want to go through the entire medical process of purchasing medical insurance coverage from an insurance company. A person only pays for medical expenses and does not pay any insurance company any money.
Annuity and Variable Annuity plans provide income for retirees through a specific annuity that is invested in a fixed account for the retiree. There are two types of variable annuities: The Premium Adjustable Annuity and the Reverse Mortgage. These plans typically have low interest rates and allow the retiree to borrow money from the investment account to make payments into the account.
Annuity plans are a great option for those who need long-term income protection. Most insurance companies have a variety of investment options available to the buyer of annuities. A variable annuity is a contract that allows the buyer to purchase annuity coverage that earns a predetermined amount of money over time, which then earns interest. The money earns interest in a portfolio until the retiree stops paying the premiums or until the portfolio maturing investment has reached a certain amount.
A Structured Settlement is another type of Annuity. When a person dies, a fixed amount of money is distributed to his or her beneficiaries over time to pay off medical expenses, funeral costs, property taxes, and other outstanding debt. The payments in this case are a percentage of the death benefit and can vary based on the size of the settlement.
Finally, a term life annuity is the most popular annuity product. In this product the retiree pays regular premiums until the amount becomes paid. The income generated in the initial period of the annuity is distributed until the final maturity of the plan.
Once you have decided to purchase standard life insurance, it is important to contact an insurance company that offers coverage. You can research the insurance company online, ask others for recommendations, or simply speak with your agent. If you are unsure about the policies offered by a particular company, it is best to speak with an agent to make sure that you are getting the coverage that meets your needs and financial situation.
Once you have made a decision to purchase insurance from a particular insurance company, it is important to talk with a qualified agent to learn about their services. You may be able to get an idea about the options that are available to you by speaking with your agent. They will give you some examples to help you understand how you can benefit from their services.
You will also be asked questions to answer before you make a decision about the insurance company. Many times the questions will be to determine your needs and what type of insurance coverage you really need. After you have received these answers, you will be able to discuss your needs with your agent and make an informed decision on the type of insurance coverage that you really want.
When you are ready to purchase life and accident insurance, there is no better time to begin shopping around for the best coverage that is right for your needs. By shopping around, you will receive the very best coverage possible and be able to save hundreds if not thousands of dollars over the life of your insurance policy.