Life insurance options for the employees of Ontario Local Schools

Providing individual life insurance solutions for America's workforce

 

 

Payroll deduction makes it easy.

With voluntary payroll deduction, all you have to do is decide on a policy, select the amount of coverage you want, and apply for coverage. If you are accepted, we’ll work with your employer to schedule your payments and have them automatically deducted from each paycheck. There are no checks to write and no concerns about late or missing payments.

We are recognized as a premier life insurance carrier which seeks to offer financial security to employers and employees through innovative and competitive products. New York Life Insurance Company and NYLIAC have the highest ratings for financial strength currently awarded to any life insurer by all four major rating agencies.1

Joel Staich
jstaich@ft.newyorklife.com

Financial Advisor
Staich Financial LLC
99 Park Avenue West, Suite E
Mansfield, OH 44902

(P) 419-564-3001

Guaranteed Issue

LIFE AND WORK. THEY GO TOGETHER.

If you already have life insurance coverage through your employer, you’ve taken an important step toward protecting your family’s financial future. But most company-sponsored plans are group term programs. That means when you retire or if you leave your job for any reason, your coverage may end. On the other hand, when you own a permanent life policy, your loved ones will be protected wherever you work, as long as the premiums are paid.

IT WORKS EVERY DAY, JUST LIKE YOU.

You have the opportunity to obtain valuable lifetime coverage through payroll deduction. Employee’s Whole Life is affordable permanent protection that’s portable and flexible. Your premiums are automatically deducted from your paycheck, so there’s no bothering with checks or monthly bills.

CAN ALL EMPLOYEES PURCHASE EMPLOYEE’S WHOLE LIFE INSURANCE?

You’ll be eligible to purchase our Guaranteed Issue Employee’s Whole Life product if you are between the ages of 16 and 70, have been with your employer for at least six months, and work at least 30 hours a week. All you need to do is complete an application. No physical exams are needed nor are any medical questions asked.

In order to maintain your Guaranteed Issue eligibility, you must purchase a second policy within three years of your last purchase. You can add policies for both you and your qualified family members during future annual re-enrollment periods or as your insurance needs change.

EMPLOYEE’S WHOLE LIFE. IT WORKS HARD FOR YOU.

When you purchase our Guaranteed Issue Employee’s Whole Life product, you’ll receive these valuable benefits:

Portability. Since you own the policy, it remains with you regardless of where you work or even if you retire.

Guaranteed cash value.2 Your permanent policy builds cash value, which you can access through policy loans and withdrawals, to help pay for unexpected emergencies or even your children’s college education.

Convenient payments. Your premiums are automatically deducted from your paycheck.

Affordability. You benefit from competitive rates and liberalized underwriting.

Flexibility. You can customize your policy with optional policy riders, some for an additional cost.

Coverage for additional family members. Your spouse, children, and even grandchildren (ages 15 days to 25 years) may also be eligible for guaranteed coverage.

2 The guarantees of a life insurance policy are based on the claims-paying ability of the issuer, and accessing the cash value through loans and withdrawals will reduce the cash value and death benefit.

READ MORE

Select a policy that meets your goals and budget.

 

As a provider for your family, you already know how important life insurance can be. The question is: which policy is best for your particular situation? While we offer a wide range of products, you will most likely choose between two basic types of coverage: term insurance and permanent insurance.

Term insurance provides affordable life insurance protection for a specific period of time (“the term”). It is generally the least expensive option because it pays a benefit only if you die during the term. If you’re on a budget, or have a short-term need, term life insurance can be an ideal solution. Better yet, many of our term life policies allow you to convert to permanent life coverage if your needs change later on, within a specified period of time.

Permanent insurance gives you lifelong protection and is guaranteed to pay a benefit no matter when you die, provided premiums are paid when due. It also accumulates cash value that grows tax deferred over time, creating a pool of money that you can borrow against during your lifetime to help pay for college, purchase a home, or even supplement your retirement. Of course, accessing the cash value through loans will reduce the cash value and death benefit. Over the long term, permanent life insurance can be a better value than term coverage since it never needs to be renewed and has no built-in price increases.

1A.M. Best-A++, Fitch-AAA, Moody’s Investor Service-Aaa, and Standard & Poor’s-AA+, as of 6/4/2014.