Insurance Products

Meeting the needs of our clients' risk management and estate planning objectives often involves the use of insurance products. Today, more than ever, there is a broad range of insurance programs tailor-made for specific protection requirements, and as an independent broker, Carte Risk Management Inc is ideally positioned to search the market for the best product at the best price to meet your specific needs. The following is a list of some of the different types of insurance plans available to our clients through Carte Risk Management Inc such as health insurance, life insurance, and travel insurance.

/Critical Illness Insurance

If you’re lucky, you’ve probably never had to use critical illness insurance (sometimes called catastrophic illness insurance). You’ve maybe never even heard of it. But in the event of a big health emergency, such as cancer, heart attack or stroke, critical illness insurance could be the only thing protecting you from financial ruin. Many people assume they’re fully protected with a standard health insurance plan, but the exorbitant costs of treating life-threatening illnesses are usually more than any plan will cover. Read on to learn more about critical illness insurance and whether it’s something you and your family should consider.

/Key Takeaways

  • Critical illness insurance provides additional coverage for medical emergencies like heart attack, stroke, or cancer.

  • Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short.

  • These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.

/Life Insurance 

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries when the insured dies. The insurance company promises a death benefit in exchange for premiums paid by the policyholder your goals.

/Key Takeaways

  • Life insurance is a legally binding contract.

  • For the contract to be enforceable, the life insurance application must accurately disclose the insured’s past and current health conditions and high-risk activities. 

  • When the insured dies, the policy’s named beneficiaries will receive the policy’s face value, or death benefit.

  • Term life insurance policies expire after a certain number of years. Permanent life insurance policies remain active until the insured dies, stops paying premiums, or surrenders the policy.

  • A life insurance policy is only as good as the financial strength of the company that issues it. State guaranty funds may pay claims if the issuer can’t.

/Disability Insurance 

Disability insurance is a type of insurance that will provide income in the event a worker is unable to perform their work and earn money due to a disability. There are many types of organizations that provide different types of disability insurance. Each organization and disability insurance type has specific rules as to what constitutes a disability and how a person might qualify to receive the disability benefit. This basic insurance is a key social justice concept.

/Key Takeaways

  • Individuals must wait through an elimination period before insurance can take effect.

  • Disability-income insurance can be purchased privately, and Social Security also provides disability insurance, including special compassionate allowance treatment fort those who are very ill.

  • More expensive policies will have more liberal definitions of what constitutes disabled: watch for “any occupation” vs. “own occupation.”

/Travel Insurance 

One of the big benefits of travel insurance is that it covers you should you become sick or get injured during your vacation. They are crucial in covering the cost of visiting the doctor or getting hospitalized. Travel plans also cover prescription medications as long as your condition is covered by the policy, the medicine will be as well.

Should you suffer a serious illness or injury and need to be medically evacuated your policy usually pays for an economy round trip ticket for a family member to be with you for a short period of time. Here at TMC Wealth we make sure to give you the best travel insurance possible, and have a wide range of policies to best suit your needs. While we have plenty of information throughout our website, feel free to contact us should you have any further questions as we would be more than happy to help you.

If you’re about to embark on vacation and are looking for a policy that will cover both the cost of travel and health then you should look into getting travel insurance. This insurance covers inconveniences such as lost luggage, medical evacuation, and illness.

Ready to start protecting your future with TMC insurance?