mother and young son embracing in an autumn park

The Average Life Expectancy in the U.S. is 78.2 Years

Is your family in a position to cover costs when you pass away? Proper life insurance coverage is important to the future of your family. With a life insurance package from Banas & Fickert Insurance Agency, you get value and peace of mind.

At Banas & Fickert Insurance Agency, we offer a variety of life insurance options to fit your needs:

  • Term: With term life insurance you are covered for a specific, pre-determined amount of time. Premiums are lower than other types, but can fluctuate once the term is expired.
  • Whole: Do you want to be covered for your entire life? With whole life insurance, you are covered through your life, without an expiration date. On top of that, the policy can accrue equity.
  • Universal: With universal life insurance, you can accrue cash value that can be borrowed against. Premiums for this insurance are paid into a policy account and it earns interest. As long as the cash value of the policy is enough to cover monthly deductions, the policy is active. There is also flexibility of being able to change the amount covered and the monthly premiums.
  • Group: Whether you own a company or have another group of individuals that you would like to have insured, you will want to consider a group policy. The policy is created by determining the size and stability of the group, instead of the insurability of individuals in the group.

Get a Quote!

Life insurance comes with many questions. We are here to help. Whether you have questions about how life insurance works, you want to know more about a specific type of insurance, or you want a quote, give us a call at 413-527-2700. We want to ensure you have the best experience when selecting your insurance and, because of that, we take the time to explain your options. No matter what type of life insurance you need, we will help you get the right package.

Long Term Care (LTC) Insurance

As baby boomers retire in record numbers, this country will face a health care shortage unlike we’ve seen before. More and more retirees are opting to “age in place,” receiving supportive care at home instead of moving to health care facilities, both for their own comfort but for financial reasons. However, the Home Health Care (HHC) workforce is not growing quickly enough to meet the needs of our aging population. That means care of loved ones is falling increasingly on informal caregivers, such as spouses, children, friends, and neighbors.

Informal caregiving is often perceived as being “free” because the caregivers usually aren’t paid for their help. But there are hidden (and not-so-hidden) costs to those providing care.

  • Economic: Having to take a leave of absence from work, quitting work, losing chances for advancement, out-of-pocket expenses (travel, groceries)
  • Time: Sacrificing time with your own family and friends, missing activities or tasks you’d normally be doing
  • Health: Extra emotional stress and anxiety, less likely to tend to your own medical needs, higher mortality rate, more likely to have increased substance abuse

As a result of this domino effect, the cost of informal care is actually more than double HHC and in-facility care combined.

daughter holding elderly mother's hand

How Can Long Term Care Insurance Help?

Traditional LTC plans operate by reimbursement, meaning they will only cover bills submitted for professional HHC care. LTC cash indemnity plans can be used without restriction, meaning the policy holder can use his or her insurance to pay back informal caregivers for their time and lost wages.

While we do not offer straight LTC policies, we do offer hybrid plans that combine Life insurance and some LTC-type benefits. To discuss your options, please contact us.