Health Insurance

In the past, it was a challenge for small businesses to find affordable health insurance, however now there are a variety of sources for purchasing a HMO, PPO, or a POS or other possible health insurance plans at affordable group rates. At Don Cousins & Associates, we provide you with a variety of health insurance options so that you can choose the right health insurance plan for you or your employees and avoid costly fines and penalties.

Currently, under the Affordable Care Act (ACA), business owners and the self-employed who purchase coverage through new healthcare marketplaces may qualify for premium tax credits and subsidies to offset costs.  Call us today at (504) 889-1858 to see if your business qualifies for these tax credits and subsidies. 

Life Insurance

There are three types of life insurance policies, term life, whole life and universal life.

Term Life Insurance is the least expensive to buy. You pay a premium for the "term", a set amount of time ranging from 10 to 30 years.  If the insured dies before the end of the term, a specific lump sum of money will be paid to the insured's beneficiaries. Once the policy term expires, you will have the option to extend the term at a higher premium or purchase a new term policy. 

Whole life insurance policies cost more, but they last for your entire lifetime at a fixed premium.  This type of policy allows you to withdraw funds, borrow against your policy or cancel your policy anytime.  

Universal life insurance policies are a combination of term and whole life policies. This type of policy builds up a cash value and you can use that money to pay your premiums.  Because this policy has a savings component and a variable interest rate, it may provide higher returns. 

Life insurance policies may seem complicated, but in reality, they each offer different features. At Don Cousins & Associates, we help you decide which kind of policy is best for your needs and then obtain quotes from various insurance companies tailored to your budget.

Disability Insurance

Keep in mind that the IRS makes a distinction between whether your disability insurance was provided by your employer and whether you purchased it on your own. If you buy your own policy and pay the premiums, benefits are not taxable. If your employer covers payment of the premiums, benefits are taxed as income.

When purchasing disability coverage, note that there are several riders available so that you can tailor the policy to your needs. For example, there is a benefit increase provision to increase coverage without evidence of insurability.