Providing for your family often means more than simply bringing home a paycheck. Proper insurance coverage can help ensure your loved ones are cared for no matter what life brings.
Life Insurance
Life insurance can help provide your family with financial stability when it matters most. The protection of your family’s assets should be an integral part of your financial plan. OUCU Financial Services, available through CUSO Financial Services, L.P., has access to a long list of insurance companies that offer different types of policies helping us find the right combination of coverage and price for you and your family.
To check out some initial rate quotes, feel free to utilize our PolicyGenius partner platform. You’re welcome to reach out to us for rate quotes as well. We’d be happy to discuss it with you!
Term Life Insurance
Term policies are generally the most affordable policies providing maximum coverage for the lowest price. The coverage, however, ends after a specific period of time. Depending on the provider and policy you select, you may have the option down the road to convert to a permanent policy should your needs change. Term policies might be appropriate for those who are wanting to protect assets for a defined period of time (e.g. while you are paying down a mortgage), when cost is a factor, or if you are wanting to supplement a permanent policy for a period of time.
Permanent Life Insurance
Whole Life, Universal Life and Variable Universal Life are considered permanent life insurance policies. These policies are intended to last until you die at which time they pay a designated beneficiary. Certain types of these policies may accumulate cash value and include benefits in addition to the death benefit. Permanent insurance might be appropriate for those who are wanting to create a legacy, leave tax-free money to beneficiaries, or build tax-deferred savings via the cash value.
Click here to use our life insurance needs calculator or call our office for a quote.
Long Term Care Insurance
A costly long term care situation is a big unprotected risk for many of us. Such an occurrence can adversely affect even the best thought out retirement plans. Over 70% of Americans over 65 will need some form of long term care services and support during their lives.* OUCU Financial Services, available through CUSO Financial Services L.P., offers long term care insurance to help protect you and your family.
We offer members a no-obligation review of your likely needs and possible long term care insurance solutions, including newer ways to pay for your care. Even if you have a long term care policy, a review can be beneficial to get an update on your benefits and bring confidence knowing that your plan will be there when you need it.
*2015 Medicare and You, National Medicare Handbook, Centers for Medicare and Medicaid Services, September 2014.
Life Insurance Policy Reviews
Carrying the right amount of life insurance is important and this amount is likely to fluctuate at different stages in your life. A life insurance check-up can help determine whether your coverage and needs are still aligned. If you have had a life-changing event recently, or if it has been awhile since you have reviewed your policies then our CFS* representatives can help. We offer insurance policy reviews to members at no cost.
Insurance products and services are offered through CUSO Financial Services, L.P. (“CFS”). Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.