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Tuesday, September 22, 2009

Individual Health Insurance Plans

You may have noticed more advertising of family health insurance coverage in the last year or so. Given the current economic environment, many individuals and families are choosing to secure health insurance coverage outside of a group plan. For some, this may be due to being self-employed. For others, it may be less expensive than the plan offered by their employer. For what ever the reason, more and more people are seeking individual health plans as offered by many insurance carriers.

Because many employers have to scale back on expenses, they are changing the benefits being offered to employees. In many instances, it equates to more money being withheld at each pay period. In order to make the health plan less costly to the company, they are altering current group health plans or altering the amount of company contribution. The result is a higher cost for the employee. It may be in the form of a higher premium, higher copays or coinsurance, or higher deductibles. Certain coverage, such as for dental care, may be reduced or eliminated. This leaves the worker with a decision to make.

For some employees, they opt to continue with the coverage being offered by their employer. Those with families are doing more research into health insurance coverage as it would be too expensive to continue with the changed employer plan. There are many individual plans available through well known carriers, and some that are not as familiar. However, it is not impossible to find an individual health insurance plan to fit the needs of your family.

Prior to starting your research, sit down and determine exactly what coverage you need. Do you need it just for yourself? Are you a single parent and just need coverage for yourself and a child? What type of health care expenses do you currently have and anticipate in the near future? How much can you afford to pay (premium, copay, coinsurance, and deductible)? Doing this helps to narrow your choices.

Once you start reviewing health plans, make sure that you understand the terminology. Do not be afraid to contact the company offering the plan and ask questions. Also, you want to find out if certain services are part of the plan, available as a rider, or even available at all through that carrier and don’t forget to ask about dental, vision or life insurance coverage.

If you are self-employed, never had health insurance or recently laid off you cannot afford to not have major medical insurance. Why? Because today’s leading cause for financial ruin and filing for bankruptcy is the inability to pay medical bills. By purchasing a major medical policy you are able to implement a cap on your out of pocket expenses, and have the support of a large organization to subsidize the majority of your medical expenses. To give you an idea of what a burden medical bills and can be, a 3 day stay in a hospital can run upwards of $28,000.

So the question is where are you able to find quality health insurance coverage if you are ineligible for an employer sponsored plan? Today, the web is a valuable resource for finding affordable health insurance options in your area. However, when you begin looking for a plan it is important to shop around for all options. Do not limit yourself to going to a single carrier’s website as it is very likely they may not have the most competitive rate in your area. It is best to use some sort of exchange or quote engine to observe all possible options in your area.

In addition, when trying to find health insurance, make sure that you are signing up for “real” insurance and not a discount program. Discount health insurance policies are dangerous because they do not cap your out of pocket exposure; i.e., you could be paying 50% of a million dollars in medical claims. A dead giveaway for discount programs is membership fees before signing up. Any real insurance carrier will not make you pay a membership fee in order to qualify for their plan. Also, if it sounds too good to be true it probably is.


Wednesday, September 16, 2009

Do You Really Need Life Insurance And Why?

When it comes to life insurance, one of the most commonly asked questions is “is it really needed to have?” It goes without saying that arguments can be made on both sides, but you are recommended to think about a few circumstances where having a policy is truly incredibly useful.

So, as it was already mentioned, folks are battling with the mind or asking questions whether they really need a life insurance policy. Are you also one of them? You should not worry because you are not alone, many folks have being doing the same thing before they finally made up the mind to buy life coverage. The point is that it is never an easy decision for a young energetic man at the prime of his age.

It will be useful for you to know that these are just three major reasons for needing life insurance coverage: having a mortgage, family or kids and in the case you find yourself in one of these categories, then it simply means that you definitely need to purchase a policy in order to take care of the individuals you love.

It should be also pointed out that a lot of people may think that if the case is that they don’t have dependents, they don’t really need life coverage but this is not true. It is vital for you to understand that if you don’t have dependents now you might have them tomorrow or you may even bequeath your death benefits to charity homes or to any of your loved ones.

You need also to keep in mind that if the case is that you have spouse and children who depends on you, which your death might adversely affect their livelihood, life policy is very necessary for you.

The other vital fact for you to take into consideration is that in the case you are married without children yet, you should not shun a life policy due to one simple reason – you may need it in the future. Actually, your aged parents might be relying on you for their basic necessaries and your death might cause lots of hardship on them, don’t you see that life coverage may alleviate this ugly situation.

It should be also pointed out that the first thing that you will think about after making the decision to buy a life coverage is what type of insurance to buy how much. As a result it is principal for you to remember that there are two basic types of life policy that can give you adequate protection, whole life and term life insurance policies. You should also keep in mind that your marital status, number and age of your children, mortgages, loans and your future expenses needs to be evaluated before you decide on what kind and how much insurance you need.

To go into more details there is a need to state that your present financial situation is what you consider first, as calculating how much insurance you need is never a thing to be guessed. Though, it is a condition that you have to buy a life policy of a minimum of seven years from your present yearly income.

To finish, it should be mentioned that the fact that you definitely wouldn’t want your dependents to go through a lot of hardship when you’re no more makes life insurance policy essential to everyone. You need to acquire whole life insurance policies today, for the future of your dependents.


Friday, January 30, 2009

Things You Need to Know About Health Insurance

Shopping for a family health insurance or an individual health insurance? If this is your assignment for yourself this year, then there are a lot of things that you should know first. These are things that may prove helpful and realizations that you should acknowledge so that shopping for a cheap medical insurance can be made possible.

An important thing that you should know is the fact that a medical insurance-whether that is a family health insurance or an individual health insurance- is a necessary evil. This is evil for some because this cost too much. Necessary evil for you because admit it or not the medical insurance is your friend when the time comes. Medical bills and other drugs that you may need in your old age can break your retirement fund and obviously, the health insurance plan will save you from bankruptcy.

If you are working and your employer offers a health insurance plan, then it is suggested that you take the chance. This is what the industry calls as the group coverage and this is a good deal for someone who still don’t have this kind of plan. When shopping for cheap medical insurance, expect to face rough roads. It will be always tough to compare plans and if you are presented with a plan with the lowest premium then don’t expect that it will be the cheapest plan for your needs. Don’t look solely on the premiums that you need to pay; attention should be focused on the coverage that can be offered by the medical insurance plan. And speaking of coverage for cheap medical insurance, you need to consider the fact that there are some loopholes too in coverage and you needs to be aware of these. For example, doctor visits may be free but the benefits for other services like drugs and dental care may be just optional.

When shopping for health insurance plans, it is not a sin to find for the plan that is not only cheap but flexible. But if you insist on a flexible plan, then better be prepared to pay for more. With greater flexibility on your part then the more you have to pay for the premiums and other obligations. Medical insurance-whether that is a family health insurance or an individual health insurance- is a contract. And that contract will include the listing of preferred doctors, hospitals and other providers. It is suggested that the person should check up on the track records of these personalities and institutions before signing the dotted line. Once you have signed on the contract and you have your very own medical insurance, then you need to know that it is mandated by law that you can keep your health insurance plan even at the event that you lose your job. The government protects your need to have an individual health insurance or a family health insurance. But the bad news is that the government cannot protect you from high cost of premiums and other obligations. But at least high premiums and obligations will mean better coverage and services in the end.

For more information on health insurance plans visit www.californiahealthplans.com
Source: www.articlesbase.com


Friday, January 16, 2009

Income Protection Insurance, one of the most important insurance policies

Income protection is an income replacement benefit designed to protect a person against the financial consequences of a long-term illness or injury. Considering for the working people, it is necessary to have an income protection that can charge bills, and supply your other need for a while if you are in the short term unable to work because of sickness or other causes. It is an essential insurance for most people, but few realise this until it is too late.

The main benefits of the income protection are the peace of mind and the monthly income it provides if you were to lose your job due to an involuntary reason.
Income protection insurance will help take care of your monthly financial commitments if you were to lose your salaried income. Job loss does not have to be stressful. If you have a replacement income it will make finding a new job or recovering from an illness so much easier.

No-one can guarantee that they will not be the victim of an unfortunate accident or be diagnosed with a serious illness.
We had to choose an insurance company that offer income protection, because we can never predict what will happen with us in about even an hour next, everything is changing around us continually. That why we had to controlling our unknown things. With income protection, we could give guarantee, an assurance to our life.

The actual premium you pay for Income Protection Insurance takes into account a number of different factors including:
  • Amount of Benefit Required
  • Deferrment Period (How long you want to wait before the policy starts paying)
  • Your Occupation
  • Your Age when you take out the policy
  • Smoker Status
  • Estimated retirement age
  • Health and Medical History

Each of these factors will have a direct effect on the premium that each insurance company offers you. For instance, as with most types of insurance, your age and sex have a fundamental effect on how likely you are to make a claim in the eyes of the insurance company.

If you are keen to protect your income and maintain your lifestyle during such a difficult time then you may want to consider obtaining an income protection insurance policy.


Monday, December 22, 2008

Considering to Became a Life Insurance Agent

Life Insurance Agent is a person in commercial law who has the authorization to act for the principal to make a relationship legally with those who want to insure themselves through life insurance policies.
How to become a life insurance agent?
There could be good news for anyone who's ever dreamed of earning a good living while creating his or her own work schedule and at the same time helping individuals and families in the community. Especially if you're interested in pursuing a career where you are fairly compensated based on the hours and effort you put forth with unlimited potential for growth. As a life insurance agent you can do all of this while enjoying a stimulating career. Further, you will be in a position to help people realize their financial goals-whether that's funding an education for children, buying a home, or planning for retirement. Working with families to provide life insurance protection can be an extremely rewarding career, in addition to the income potential and flexibility it offers.

Working as a life insurance agent is a profession of relationship building and finding solutions to estate planning, business continuation planning, retirement planning, and a range of financial objectives for individuals, families, and businesses. Agents provide a valuable service to consumers by working with them to assess their needs and identify ways to meet their financial objectives.

Becoming an agent is a great opportunity for recent college graduates or for those who are looking for a new professional challenge. Many of the most successful agents were previously employed as nurses, teachers or entrepreneurs involved in other business ventures. By learning new skills and applying existing capabilities they can become successful, satisfied life insurance professionals. It's also an extremely attractive career for women, and the number of women selling insurance is increasing.

As an agent for Life Insurance Company, you are eligible for generous benefits, will receive comprehensive training and can pursue a fulfilling profession.


Wednesday, December 17, 2008

Health insurance

The term health insurance is generally used to describe a form of insurance that pays for medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. Individual health insurance is coverage that a person buys independently. It can be sold to a single individual, to a parent and dependent children, or to a family.

By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization, most often either a government agency or a private or not-for-profit entity operating a health plan.

Health insurance provides many things: a safety net, should you get sick or injured; the means to maintain your well being with tests, screenings and vaccinations; and peace of mind, knowing your family can get the cheap health care it deserves. However, Lifestyle-related factors can increase utilization and therefore insurance prices, such as: increases in obesity caused by insufficient exercise and unhealthy food choices; excessive alcohol use, smoking, and use of street drugs.


Tuesday, December 9, 2008

Travel insurance, Is It Important?

Traveling is a common activity done by some people today. This activity is very fun and provides us with the opportunity of seeing different places. However, people may go on short trips or long journeys so that, the travelers need some protection against the unexpected and concern over losing the financial investment in a trip. What the travelers will do to make a journey more comfortable without feeling fear? Travel Insurance is the answer.

Travel insurance is insurance that is intended to cover medical expenses, financial (such as money invested in nonrefundable pre-payments), and other losses incurred while traveling, either within one's own country, or internationally.

Travel insurance can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators. However, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies.

Peter Greenberg, TODAY Travel Editor said, at least there are 9 reasons to buy the travel insurance.

  1. Your flight has been cancelled
  2. Your bags are lost and your medication is in it. You need to have an emergency prescription filled.
  3. Your passport and wallet are stolen, and you need emergency cash and a replacement passport.
  4. You're involved in an accident and adequate medical treatment is not available. You need medical evacuation.
  5. You need to cancel your trip due to illness.
  6. Your cruise line, airline or tour operator goes bankrupt. You need your non-refundable expenses covered and to get to your destination.
  7. You have a medical emergency in a foreign country.
  8. A terrorist incident occurs in the city where you’re planning to visit and you want to cancel your trip.
  9. A hurricane forces you to evacuate your resort, hotel or cruise.

Travel insurance often offers coverage for a variety of travelers. Student travel, business travel, leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured.

So, based on the most common risks that are covered by travel insurance, do not hesitate to set aside a little money for your travel insurance, to ensure you can enjoy your trip and more comfortable. Typically travel insurance for the duration of a journey costs approximately 5-7% of the cost of the trip.


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