If you’re interested in individual or family coverage prior to the age of 65, The Dowd Agencies can provide the insurance to fit your unique needs, including health, dental, and life insurance plus ancillary protections.
Health Insurance
Health insurance has been a requirement for the majority of Massachusetts residents since 2006. The type of plan you need will depend on several factors:
- How often do you see a doctor?
- Which doctors do you want to see?
- What prescriptions do you take?
- Do you need family coverage?
Reach out to us and our experts can help you find an affordable health insurance plan that suits your needs at no extra cost to you.
Individual Life Insurance
The purpose of a life insurance policy is to protect those who depend on you and to provide for those who are important to you. Unlike other types of insurance, most people aren’t required to have it, but doing so is often a smart move to ensure that your family is not financially devastated if you pass away. There are two types; the primary differences are outlined in the chart below. Call us to discuss your individual life coverage and receive a no-obligation quote.
| Whole Life Insurance | Term Life Insurance | |
| Length of coverage | Can last a lifetime | Generally more appropriate to meet short-term/temporary needs |
| Premiums | May be less expensive over time because the premiums are usually level and do not increase | Often initially more affordable; however, premiums may increase making protection costlier at a time when you may be looking to reduce expenses |
| Equity | May build equity, called cash value, which can be accessed during your lifetime.* This cash value can accumulate on a tax deferred basis | Does not build equity; there is no cash value |
*Tax-free distribution assumes that the life insurance policy is properly structured and not classified as a Modified Endowment Contract (MEC). Withdrawals are made up to the cost basis and policy loans thereafter. If the policy is an MEC, cash value is taxable upon withdrawal and if withdrawn before age 59½, a 10% federal income tax penalty may apply. If a policy should lapse or be surrendered prior to the death of the insured, there may be significant tax consequences. Loans and withdrawals will decrease the cash value and death benefit. Cash value accumulation may not be guaranteed. Investments in variable life insurance plans are subject to market risk including loss of principal.
Dental Insurance and Ancillary Insurance
Ancillary benefits are a secondary type of health insurance coverage for miscellaneous medical expenses. These plans can cover individual dental insurance plans as well as vision, critical illness, accidents, hospital confinement and more. If your employer doesn’t offer group dental or vision insurance, we understand that these expenses can add up fast. Let us help you fill your coverage gaps with individual dental and vision insurance coverage based on your personal and family situation.