Life Insurance Coverage

Your family is your responsibility and your life, and there’s nothing better than watching them succeed and sharing in their ambitions, dreams, and conquests. But should something unexpected happen to you, you’ll want to be prepared for providing the assurance your family needs to keep their futures safe and sound. At Rodondi & Associates Insurance Brokerage, we’ll work with you to keep your family protected in the event of your untimely death.

A proper Life Insurance policy can give you reassurance knowing that your finances and beneficiaries are secure – from temporary to permanent coverage. At Rodondi & Associates Insurance Brokerage, we understand that as things in your life change, so will your financial and insurance needs. That’s why it’s important to review your Life Insurance options with a specialist you can trust.

Individual Life Insurance

Reassurance for you and your Loved Ones

Many individuals consider life insurance to be the cornerstone of a sound financial plan. And while no one likes to think about passing on, Life Insurance can relieve you of the financial worry your loved ones may face in the event of your passing. Your beneficiaries will be able to use your Life Insurance policy to help pay for anything from expensive funeral costs and estate taxes to making up for lost income or funding your child’s education. It can even be used to continue payments on your mortgage to help ensure that the family home stays in the family.

At Rodondi & Associates Insurance Brokerage, we know that choosing a Life Insurance plan is a big decision with many important factors to consider. Our knowledgeable team of insurance professionals is committed to walking you through the process and providing you with the best insurance solution to give you and your family the reassurance they deserve. 

Types of Individual Life Insurance

Rodondi & Associates Insurance Brokerage offers several different coverage options for your consideration including term life, whole life, and more.

Term Life – This is typically the simplest and least expensive insurance option. Term life insurance provides coverage at a fixed rate for a specified period of time. It’s a benefit policy that’s used primarily to cover financial responsibilities of the insured, with the benefit to be paid only if the insured were to die during the specified term. Most term life policies can be converted to a more permanent insurance solution such as whole life or universal life insurance.   

There are two types of term life insurance: 

• Annual Renewable Term is purchased for a period of one year, with the death benefit to be paid only if the insured were to die during that one-year term, along with the option to renew after the term period.

• Level Term Life guarantees a fixed premium for a given period of time, usually in terms of 10, 15, 20, or 30 years. Your premium is based on your age and coverage options, with longer terms being more expensive.

• Whole Life – As the most common type of permanent insurance, a whole life policy guarantees a death benefit for the lifetime of the insured as well as a cash value account for savings. Your premium remains constant throughout the duration of policy while payments over and above your premium are credited to your savings, which earn a fixed rate of interest. 

Rodondi & Associates Insurance Brokerage is here for you

There are many things to take into account when purchasing life insurance, and changes in your life situation can reflect changes in your insurance requirements. That’s why it’s important to carefully consider the different policy options and ensure that you have the right solution to meet your long-term life insurance needs. An insurance specialist with Rodondi & Associates Insurance Brokerage will review your current life insurance situation and help you design a policy to plan for the future. At the end of the day, one of the biggest investments you can make is an investment in yourself.

Long-Term Care Insurance

Personal and Financial Protection for the Long Term

For most Americans, a traditional Life and Health Insurance package is enough to keep themselves and their families insured, but for many, additional coverage is required. At Rodondi & Associates Insurance Brokerage, we offer extensive coverage options that can insure the care of those who need it most.

Long-Term Care Insurance (LTC) helps provide for the medical expenses of extended home health care or nursing home costs beyond a specified period. In general, individuals who require Long-Term Care are those who can no longer take care of themselves and are unable to perform the basic activities of daily living without assistance.

The costs of Long-Term Care can be quite expensive, and are typically not covered under basic Health Insurance, Medicare, or Medicaid. Long-Term Care Insurance from Rodondi & Associates Insurance Brokerage can protect your family’s financial future by providing valuable coverage benefits for costs associated with:

• Home Care

• Assisted Living

• Adult Daycare

• Hospice Care

• Nursing Homes

• Respite Care

Individuals looking to purchase Long-Term Care Insurance must meet certain conditions in order to qualify for benefits. Talk to an insurance professional with Rodondi & Associates Insurance Brokerage to learn more about Long-Term Care Insurance and whether you should add it to your current policy.

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. Policy guarantees and benefits are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.

Disability Insurance

Your Biggest Asset is You

When it comes to protecting your assets, one of the most important things you can insure is not a material object like your car or home – it is your ability to work and earn a living. At Rodondi & Associates Insurance Brokerage, we know that like most people, you depend on your income to pay bills, put food on the table, and provide for your family. But if you get sick or injured and cannot work, you will need to be protected in order to maintain your standard of living.

With disability income Insurance from Rodondi & Associates Insurance Brokerage, you can continue to pay your bills and keep you and your family from going into serious debt. If you cannot work as a result of injury or other illness, a disability insurance policy will pay a portion of your income, usually between 50 and 70 percent.

Policies can vary greatly depending on the individual, and the duration and amount for which you are reimbursed are determined by the nature of the disabling accident. Like life insurance, disability is purchased for a period of time, such as a two or five-year term, and benefits will only be paid if you become disabled during the term of the policy.

Choosing the right disability coverage is important. In the event you become disabled, you will want to ensure that you and your family have enough coverage. A representative at Rodondi & Associates Insurance Brokerage will look at the individual factors in your life and work situation and help design the best policy that meets your personal insurance needs.

Second-To-Die Policy

Ensure the Future of Your Estate

Between physical assets and financial successes, there are many things that married couples share. Rodondi & Associates Insurance Brokerage knows that couples today can easily accumulate wealth in the millions, which means hefty estate taxes in the event of either spouse’s passing. A Second-to-Die policy, also known as Survivorship Insurance, is a type of joint insurance that covers the lives of two people, usually married couples, where the death benefit is not paid until the death of the second insured person.

Under federal tax law*, you are permitted to leave an unlimited amount of personal assets to the surviving spouse, allowing you to postpone estate taxes until the death of the second spouse. While this lets you keep personal assets, such as home or business, within the family, it also means that your beneficiaries may be faced with paying a large estate tax after your passing.

A Second-to-Die policy from Rodondi & Associates Insurance Brokerage gives your beneficiaries the means to pay off your estate taxes without having to liquidate the personal assets you’ve worked hard to attain. And because the policy insures more than one person, you’ll also enjoy a lower premium, and the total cost of the insurance will be cheaper than the estate taxes your beneficiaries will be liable to pay.

Due to the specialized nature of Second-to-Die insurance, some limitations may apply. It’s important to discuss your options with an insurance specialist from Rodondi & Associates Insurance Brokerage to determine the right amount coverage for you and your family.

*Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.

Key Person (Key Men) Insurance

Employees are Valuable Assets Too

Many companies have important key figures whose expertise and talents are crucial to maintaining profitable and productive business operations. From the savvy and influential executive to the creative thinker behind the company’s greatest ideas, Rodondi & Associates Insurance Brokerage knows that some talent is simply too difficult to replace.

Key Person, or Key Men, Insurance provides financial support for business owners in the event that death or permanent disability results in the loss of an employee who is essential to business operations. This policy helps assure that business can continue as planned while you look for a suitable replacement. In addition, it affirms the importance of the talent that the Key Person brings to your business.

Several business benefits are built into your Key Person Insurance policy with Rodondi & Associates Insurance Brokerage, such as:

• Coverage that acts as a business asset for enhancing your company’s creditworthiness

• Cash value of the policy that may be available to your business as a loan if needed

• A policy that can be converted to a retirement bonus for the key employee

At Rodondi & Associates Insurance Brokerage, our professional and knowledgeable insurance specialists are sensitive to your needs as a business owner and dedicated to providing all of your commercial insurance solutions. Talk to a representative today to learn more about what Key Person Life Insurance can do for your business.