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Individual Plans

Coverage can also be purchased on an individual basis to protect one’s health, one’s assets, one’s finances, and one’s even income. Some people buy individual insurance to gain access to coverage not available through their employer. Others find the flexibility and ability to better tailor a policy to the specific needs of the individual to be a main advantage. Regardless, many find the cost of individual benefits to be lower than those available through group plans.

Health Insurance

o While most people access their health coverage through the employer market, there exists a very competitive individual market for health insurance. Individual coverage is often lower in cost than employer plans.

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Life Insurance

Life insurance is extremely flexible in the individual market. There are many types of benefit structures that fit differently for different goals and objectives. The lowest cost type of life insurance is term life, but other types, such as a cash value or income producing policies may be a better fit for many people. The amount of coverage you purchase depends upon your needs. Most people plan for expenses to cover income, mortgage, and college expenses, while others seek to protect their beneficiaries from different expenses.

Key Man Policies and Executive Carve Outs

An event businesses should prepare for is the loss of the partner or owner of the company, or some other key employee. Could the business survive a potential financial hardship that could result from the loss of that key member? For example, could a business weather the loss of income if the firm’s top salesperson was no longer around? Or how about a company whose clients were largely based upon the relationship with just one partner? Could the business survive? Could the company still take care of its employees? Key man policies are available to provide financial protections for companies concerned about such a financial interruption.

Buy-Sell Agreement Funding

Buy-Sell agreement allows partners in a business to protect their ownership stake in the company in the event of the death of the other partner. Where a partner may have a spouse or other beneficiary who might be entitled to the deceased partner’s asset value in the company, a buy-sell funding can be installed to provide payment to that beneficiary to cover their share of the business value. This provides the remaining partner(s) the ability to provide the financial value to the beneficiary without having to liquidate the business or certain assets of the business to access the finances. Buy-sell agreements come in different forms and are designed and implemented for each specific situation.

Long Term Care (LTC)

With costs often approaching $100,000 per year, nursing home expenses can leave a family’s finances in ruins. At these levels, it doesn’t take long for costs to bankrupt family members responsible for a spouse or parent. With more restrictive Medicaid rules, it’s more difficult to isolate one self from a family member’s expenses. Considering 1 in 3 people will spend time in a nursing during their lifetime, Long Term Care insurance serves as an important component to a family’s financial plan. There are many plan options with features varying from provisions for basic care to those with extensive benefits. Policies are often discounted when purchased together by both husband and wife, or by children and parents. Many people think about covering themselves when they consider LTC, but it’s also important to remember how parents or other relatives could impact your finances.

Testimonials

'Our experience with Reilly Benefits has been very positive. The courteous and friendly staff has taken care of our every need. Their knowledge and dedication have afforded us the opportunity to thoroughly explain the benefits and importance of insurance coverage to our employees. I would highly recommend this organization to any individual or business for all types of insurance or tax planning.'

Dottie Wyatt, Controller
Atlantic Cycle & Power

'The commitment Reilly Benefits makes to our company to ensure our benefits and claims are handled promptly and correctly goes beyond that of any agency I have seen in my 20 years of working with insurance brokers.'

Karen Siebert, CFO
Great Mills Trading Post
'Our experience with Reilly Benefits has been very positive. The courteous and friendly staff has taken care of our every need. Their knowledge and dedication have afforded us the opportunity to thoroughly explain the benefits and importance of insurance coverage to our employees. I would highly recommend this organization to any individual or business for all types of insurance or tax planning.'

Dottie Wyatt, Controller
Atlantic Cycle & Power
'The commitment Reilly Benefits makes to our company to ensure our benefits and claims are handled promptly and correctly goes beyond that of any agency I have seen in my 20 years of working with insurance brokers.'

Karen Siebert, CFO
Great Mills Trading Post

'We rely on the recommendations of Reilly Benefits to provide plan options for our employees in a way that controls our costs and we feel great relief knowing that they keep us abreast of health care legislation and other issues that affect the managemnent of our plans.'

Regina Anderson
Vice President
Dennis Anderson Construction

Benchmarks

Reilly Benefits, Inc. works with employers in a wide variety of industries. This allows us to understand the uniqueness of specific benchmarks within certain industries and among different market sizes.

Our ability to help employers compare and contrast a benefit plan to these benchmarks provides our clients an advantage in the ultimate goal to attract and retain quality employees.

Professional Employee Benefits Specialists

Contact us

Reilly Benefits, Inc

5419 Deale-Churchton Rd. Churchton, Md. 20733

Professional Employee
Benefits Specialists

Telephone: 1-410-867-0261

Fax: 1-410-867-0262
info@reillybenefits.com

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