Bet You Didn't Know Your Life Insurance Policy Could Do That!
When you think about life insurance, chances are you picture the support that comes to loved ones after you're gone. But did you know that some types of life insurance can do much more? Depending on the policy, life insurance can provide living benefits and even help with long-term planning. Here are a few lesser-known ways it can work for you:
College Funding: Some permanent life insurance policies build cash value over time. In certain situations, you can borrow against this cash value to help cover big expenses, like a child’s college tuition. It’s not a replacement for dedicated education savings, but it can provide flexibility when extra resources are needed.
Hybrid Life & Long-Term Care Coverage: Newer policies sometimes combine life insurance with long-term care benefits. That means if you ever need extended in-home help or a nursing facility, the policy can help cover those costs. And if you never use the long-term coverage, the life insurance benefit is still there for your family later.
Cash Value: Permanent life insurance plans may also allow you to borrow against the policy’s cash value during your lifetime. This can be used for unforeseen expenses, supplementing retirement income, or other needs. Of course, it’s important to understand how drawing on cash value affects the policy before making any moves.
Reach out to us to learn which types of policies offer these features, and which options might be a fit for your needs.
Designing Pregnancy-Friendly Benefits for Employees
Pregnancy is an exciting milestone, but it often brings medical, financial, and emotional challenges for employees. Employers can play an important role in easing that burden — not just through workplace culture and flexibility, but also by making sure their group insurance plan is designed with expectant parents in mind.
Core maternity coverage, newborn care, and access to specialists are essential, but employers can also strengthen support with supplemental options such as short-term disability, hospital indemnity coverage, or voluntary life insurance. Innovative features like telehealth maternity programs, wellness services, and even fertility or adoption assistance are becoming more common as well.
Of course, even the best-designed benefits only help if employees know how to use them. Clear communication and thoughtful planning around leave and return-to-work transitions can go a long way in helping expectant parents feel cared for and supported. Reach out to us if you’d like to review your benefits and explore whether your plan is meeting the needs of growing families.