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Below are some frequently asked questions to help in making your insurance choices. If you have other questions, or would like to have an agent contact you for your specific needs, please click on the graphic below and fill out the contact form.



Q.
How much life insurance do I need?
A.
There is no quick and easy formula like you may have been told in the past where just multiplying your income times 5 equals what you need. There are many factors that come into play when choosing how much life insurance to carry. Income replacement is just one of those factors, and others include anticipated college expenses, funeral expense, day-to-day living expenses among others.

The best way to figure out what you will need is to sit with an agent to go through what your real needs might be and to determine if it is a temporary need that can be met with term insurance, or something more permanent is needed that can have some possible growth in value.
Q.
I recently lost my job and have been offered COBRA. What is that, and do I need it?
A.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) health benefit provision is a federal law that requires group health plans to provide a temporary continuation of group health coverage that otherwise might be terminated. The law generally applies to all group health plans maintained by private-sector employers with 20 or more employees.

To determine is you should accept COBRA coverage for your health care, you need to look at the cost associated with the COBRA coverage and compare it with private health insurance plans you can purchase. You may also be able to get coverage through a spouses’ group coverage. As an independent agency, Fringe Benefit Services can help look at the coverage details and costs to help you make the best decision for you and your family.
Q.
I have retired and need to look at my options for income using my savings and retirement, would an annuity be helpful?
A.
An annuity is an insurance product that pays out income. Annuities can be an option for investors who want to receive a steady income stream in retirement.

There are many types of annuities, but the basic method is this: you make an investment in the annuity, and it then makes payments to you on a future date or series of dates. The income you receive from an annuity can be doled out monthly, quarterly, annually or even in a lump sum payment. The size of your payments are determined by a variety of factors, including the length of your payment period.

Not every investor is best served by an annuity. Speaking with an agent that understands your needs will be helpful in making the best decisions for your situation.




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