LIFE, FINANCIAL, & DISABILITY INSURANCE
Affordable Protection for the Future
As an independent insurance agent, we work for you. We are not obligated to any particular insurance company, so we are able to choose the best protection for your individual needs.
Visit Lud Stoor Agency Inc. today or contact us for a free quote for your life insurance, financial insurance, and disability insurance needs. We will provide a quote typically within the same day.
Our Financial Services
Individual life insurance
Long term care
Life Insurance Options
Protecting Your Family
One of life's rewards for working hard and saving for a rainy day is achieving financial security. One of life's realities, however, is the possibility of premature death, leaving financial responsibilities for the loved ones left behind.
There is a solution - life insurance. Life insurance can create an immediate cash fund for loved ones. So, even if death is premature, financial security for your family is possible.
What Types of Life Insurance Are Available?
Permanent Insurance is designed to provide life-long coverage with benefits and features usually not available with term life insurance policies. Cash value is available for emergencies, family members can be included, and coverage premium payments generally remain level. The following permanent programs are available.
Universal life insurance
Whole life insurance
Simplified issue whole life insurance
Simplified issue children's advantage plan plus life insurance
Universal Life Insurance
Provides immediate cash value, flexible premium payment plans, tax-deferred savings, and guaranteed death benefits. Universal life programs can be custom designed to fit individual protection needs, financial security needs, and supplement retirement needs.
Whole Life Insurance
Provides level death benefit protection with level premiums and guaranteed cash values. Whole life insurance can provide needed cash value for emergency family needs and can help supplement future retirement income.
Simplified Issue Whole Life
This plan offers guaranteed premiums, death benefit protection, and cash values to age 110 for insured age 50-80. Provides coverage for final expenses, such as medical and hospital expenses, outstanding debts, and funeral costs. Easy-to-complete short-form application with minimal underwriting requirements.
Simplified Issue Children's Advantage Plan Plus
This plan offers guaranteed premiums, death benefit protection, and cash values to age 110 for insured 15 days through age 17. The death benefit will increase automatically 50% at age 18 and then again at age 25, with no increase in premium. This policy is written by the Auto-Owners Life Insurance Company.
Provides coverage for a specified period of time such as 10, 20, or 30 years. It is designed to protect short-term needs such as debt obligations, mortgages, or protection while children are young. Typically, term insurance does not provide cash value. The following term products may fit your needs.
10, 20, and 30 year level term insurance
Mortgage decreasing term insurance
Simplified issue 5 year level term insurance
10, 20, and 30 Year Level Term Insurance
These programs provide level death benefits for either 10, 20, or 30 years. They can include a guaranteed premium and renewal benefit at the policyholder's option.
Mortgage Decreasing Term
Provides decreasing death benefit protection for a specified term of 10, 15, 20, 25, or 30 years.
Simplified Issue 5 Year Level Term
This plan provides low-cost level death benefit protection for short-term needs such as debt obligations. Easy-to-complete short-form application with minimal underwriting requirements.
Disability Waiver of Premium
Waives premium payments (or cost of insurance charges if universal life insurance) if the insured becomes disabled for six months or longer.
Provides additional death benefits should death occur as a result of an accident.
Insured's spouse and / or children can be added for life insurance protection.
Mortgage Payment Disability Benefit
Provides money to continue making debt obligation payments if the insured becomes totally disabled for 60 days or longer.
Payor Death and Disability
This additional benefit waives the premium payments (or cost of insurance charges if universal life) on a child's policy if the premium payor becomes disabled or dies.
Guaranteed Purchase Option
Provides opportunities to purchase additional life insurance protection at certain ages without proving insurability.
Disability Income Insurance
Lifestyle Protection for Both You and Your Family
People work hard to afford what they enjoy in life and to pay their continuing expenses such as food, clothing, shelter, utilities, insurance premiums, and entertainment. Their ability to earn an income is their most valuable asset. If that ability is interrupted because of an accident or sickness, they may find it difficult to maintain their standard of living and impossible to plan for the future. Unfortunately, the chance of a disabling accident or sickness is greater than most people think.
1 out of 4 workers, age 35-65, will be disabled for 90 days.*
Disability is the cause of nearly 50% of all home foreclosures.*
Before age 65, if a disability lasts 90 days, it is expected to last an average of 2-1/2 years.**
80% of U.S. workers will exhaust their savings in only two months without the ability to earn an income.**
* National Association of Life Underwriters
** Commissioner's Disability Table