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1807 Seminole Trail, Ste 107
Charlottesville VA 22901
ph. 434.293.3636       fax. 888.238.7866
E-mail us

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Canopy Insurance
1807 Seminole Trail, Ste 107
Charlottesville VA 22901
ph. 434.293.3636
fax. 888.238.7866
E-mail us

Your Charlottesville Insurance professionals.

Opinions and content contained on this website are to be used for informational purposes only.  Policies, recommendations and requirements can vary by company, state and individual needs. Please consult with a licensed insurance agent to help determine the appropriate products and levels of coverage for your personal circumstances.

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All too often good health is taken for granted until it is simply too late.  At Canopy Insurance, we strive to make sure that you are well informed and have the appropriate policies so that your family and financial well being are protected under the worst of circumstances.  Each of the products discussed on this page are priced according to your age and health status so we can’t stress enough the importance of thorough investigation when considering a plan change.  It is never advisable to cancel an existing program until you know the outcome of underwriting with a new policy.

Life Insurance 
The purpose of life insurance is to protect your loved ones’ way of life by paying off existing debt, relieving pressures so that there is to grieve and by providing options such as the ability for your kids to attend college as planned even if you meet an untimely death.  Certain plan types also offer the ability to accumulate money.

Products and options can vary extensively between insurance companies, but in general, there are two categories of life insurance. 

Term insurance is intended to provide large amounts of insurance for an affordable price.  This product provides a death benefit for a specific period of time; usually between 5 and 30 years.  Once the chosen term is over, the insurance either ends or has a substantial increase in premium based on your attained age. For this reason, this type of insurance is often used for a specific purpose. 

It can offer additional insurance during the time in life when debt load is particularly heavy from mortgages or college expenses. It can provide affordable insurance for the years when kids are dependent and money is tight.  Another important feature of many Term policies is that they are convertible.  This means that you have the ability to convert some or the entire amount to a permanent plan with no health questions asked; even if your health has deteriorated and you would be ineligible to apply for any new plans.   

Permanent insurance is designed to be in place for your entire life.  Products such as Whole and Universal Life offer the added advantage of saving money on a tax deferred basis.   The money growing in these plans can be in accounts that offer a fixed and predictable return, or accounts that have the potential for more growth but offer you to assume more risk. 

One of things that should be given consideration when thinking of life insurance is that it is always uncertain what the future will hold and it’s best when possible to leave all options open.  It is often a good idea to purchase a base amount of insurance for young children.  The expense is minimal but if the future held a declining health status that would affect insurability, this might be the only policy available to meet the needs of this individual as he/she got married, had kids and incurred bills later in life.  It is also important to have a policy in addition to any insurance offered through your workplace.  Your group coverage at work may not be portable if you were forced to leave your job.  We never know what the future holds and many people find that they can no longer medically qualify for affordable Charlottesville life insurance once they have a critical need.  Planning ahead can be cost effective and beneficial.

Annuities
A sum of money that accumulates tax deferred and is used to provide incremental payments to an insured and or beneficiary for a defined period of time or in specified increments.   Though many scenarios can become more complex, in layman’s terms, the traditional annuity is a way to put aside money and allow it to grow quicker since you will not pay taxes during this time.  In some cases you’ll pay taxes once you start using the funds as income after retirement but by then your tax bracket will tend to be lower so you still get the maximum benefit from your hard earned money. 

Disability
Did you know that statistically at the age of 35 you are 10 times more likely to have a disability lasting more than 90 days as a result of an illness than you are to die from it?  What would happen if you were injured or had an illness that kept you from earning a paycheck for over a year?  Worse yet, what if you’re self employed and the money that you usually depended on from your business was needed to hire someone to oversee the operations until you could resume your post?  Simply put, disability is insurance for your income!

Health Insurance
Over 75 million Americans do not have health insurance.  Many of those people are young and can easily qualify for an affordable plan but they feel that it is not a necessary expense because they are generally healthy.  The alarming fact is that nearly 50% of all bankruptcies are a direct result of extensive medical bills resulting from injury or illness.  In addition, many people can no longer medically qualify for a policy once there is an obvious need.  Once again, it is very important to plan ahead and prepare for challenges that could present themselves in the future.

Whether you’re interested in a traditional (Preferred Provider Organization (PPO) or you’d like to learn about a cost saving Health Savings Account (HSA) the complexity and choices for health insurance policies can be very overwhelming.  Let us help compare the various benefits, policy types, deductibles and pricing to help you determine which coverage would be best for your situation.  Do you need additional tax benefits?  Do you take many prescriptions?  Do you often have doctor visits or are you one of the lucky people who rarely needs medical care and would prefer a catastrophic plan?  There are many options and considerations that come into play.  The most important rule when it comes to health insurance is that you should never cancel an existing policy until you have been accepted into the new plan.  All too often existing health conditions can be a major factor during underwriting causing an elevated premium or declination and it’s not often possible to reinstate a plan that you’ve already canceled.

Dental Insurance
There are affordable plans that are available and are accepted by many local dentists.

Long Term Care (LTC) 
You’ve worked hard to get where you are in life and you’d like your family to benefit from the assets that you’ve created.  If suddenly you’re unable to complete activities of daily living (ADL) and are faced with a nursing home stay, or must pay to have assistance in your home, everything you’ve worked so hard for could be at stake.  The average cost of a nursing home stay can exceed $30,000 a year and you must be near poverty before there is any assistance from the government.  Some simple planning and preparation could mean that your family will never have to face selling your home to pay these high costs out of your assets or worse, their own pocket!

Medicare Supplements and Prescription Plans 
Like health insurance, there are many factors that come into play when selecting the plan that’s best for you.  Are you currently disabled?  Do you often travel overseas?  Which plans best handle the prescriptions that you are currently taking?  Would you benefit from a traditional Medicare Supplement or would a Medicare Advantage plan be best for you?  We’ll take the time to help you answer these very important questions.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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