Accident Insurance

Accident Insurance

Long Term Care Insurance Policies

Long-Term insurance is a type of insurance that helps to pay for the care of individuals that cannot care for themselves. This type of coverage is not necessarily related to a medical problem, but it is usually related to an issue of mobility. Most medical insurance policies that are provided by employers may have some long-term care benefits, but they are usually limited in scope.

Every adult should consider getting this coverage because the need for long-term care can happen to adults at any age. Younger adults can sustain injuries from accidents and may need assistance in their daily life while their injuries heal. In this case, long-term care may be measured in months such as 12 to 24 months. Older adults may become incapacitated due to age as well as illness, and they may need assistance for the rest of their lives. For the elderly, Medicare will not cover assisted living or nursing care expenses.

With many policies, there is an elimination period. This serves as a deductible for the policy. A certain time period must elapse before the coverage begins to pay for care. This is usually between one and four months. The longer the elimination period, the lower the premiums will be.

Although many people think of long-term care as living in a nursing home, having this type of policy will cover many things that a person needs to maintain an independent lifestyle. This can include almost anything that a person needs in their daily life that they can no longer do themselves.

The benefits of this type of policy are wide ranging and are dependent upon the policyholder’s needs. They include having a nurse visit and to assist in areas of hygiene such as bathing. It can also include assistance with getting groceries and preparing food. They also can help to pay for resident care. This includes convalescent centers where patients are given 24-hour care.

Long Term Care

Long Term Care

Long Term Care Insurance Policies

When Thinking About The Long Run, Think Long-Term Insurance

Long-term care insurance is a product that can be purchased in order to help with health needs over an extended period of time. Typically the benefits under this type of care insurance are those that are not covered with usual health insurance plans and policies offered by employers. Some examples of individuals who can reap the benefits of long-term insurance would be those who are unable to perform basic daily activities such as bathing, getting dressed, eating alone, or walking.

This form of coverage can be offered as either a tax qualified policy or a Non-tax qualified policy. For a tax qualified LTC policy, an individual must be unable to perform at least two daily living activities, and must require care for at least 90 days. Tax qualified policies are also non-taxable.

For a non-tax qualified LTC policy, the individual’s doctor can specify that long term care is needed because of the absence of the ability to perform at least one daily living activity. Though the requirements on this type of policy are less strict, it is possible that an individual or family might face a significant tax bill as a result of these benefits.

There are many benefits included in long term care coverage. Facilities such as home care, assisted living, adult daycare, respite care, hospice care, and nursing homes are generally covered under these plans. If home care coverage is purchased as a part of LTC coverage, the benefits will also include an in-home nurse, caregiver, housekeeper, therapist, or companion if needed.

One of the best benefits of long term insurance is the peace of mind knowing that family member’s won’t have to deplete savings account for the care that an individual requires. Though governmental programs do cover the cost of some of these benefits for those who might not be able to otherwise afford them, they do not cover in-home care, which is preferable to many.

Disability Insurance

Disability Insurance

Disability Insurance Policies

A disabling injury can have economic impacts ranging from belt-tightening to bankruptcy filing, but Disability insurance can counteract that financial hardship. Disability coverage is a safety net for injured workers, but you can easily slip through the cracks if you are unfamiliar with the system.

Before the need arises, you should find out what type of insurance is offered by your employer. Most states require a minimum level of coverage, and almost 50% of larger employers offer policies in addition. Long-term group policies can pay about half of your normal salary, up to the coverage limit, and provide benefits that may last until you are eligible for Social Security.

If you cannot get insurance through your employer, or if the coverage is inadequate, you can buy your own policy. Most private policies pay up to 70% of your pre-disability income. You can choose a non-cancelable policy, with premiums that can’t increase, or a guaranteed renewal policy, where you cannot be denied coverage.

Even if you have your own coverage, you should file a Social Security claim if your disability is expected to last for an extended time. Policyholders receiving long-term benefits must apply for SS coverage after they’ve received payments after two years. The SSA pays two different kinds of benefits: SSDI and SSI (Supplemental Security income). SSI is for workers who do not have enough earnings credits to be eligible for retirement benefits.

Keeping yourself covered with Disability insurance can protect you and your family in the case of an unfortunate event. Learn more about this coverage and how it can benefit you by speaking with one of our advisors.

Universal Life Insurance

Universal Life Insurance

Universal Life Insurance Policies

Protect Yourself With Universal Life Insurance

Universal Life insurance offers coverage for a family’s growing needs. If it is offered as a workplace benefit, it may provide an employee’s family with the financial resources they need to thrive through the changes a family may go through over time. This insurance provides financial protection for those who plan on getting married, who plan on having a baby, or who may start a new career.

The process works in two ways: First, it provides long-term protection, and second, it offers flexibility, which is important when handling needs that will evolve as a part of life. Although anyone can obtain coverage at any age, the best time to get this type of insurance is when a person is young and in good health. This allows for lower rates and increased benefits.

Those who take excellent care of their health by consistently maintaining a healthy lifestyle – a proper diet, regular exercise, and no smoking or substance abuse may get an improved rate. However multiple factors are considered when determining policy rates.

Flexibility means that the policy can be changed as life progresses. Since coverage can be reduced or increased while still retaining the policy, it is an excellent choice for those with fluctuating incomes; like business owners or independent contractors. However, underwriting approval is necessary to increase coverage while decreasing coverage might impact the policy guarantees.

This insurance policy usually offers the following primary benefits:

  • It is affordable coverage for a working person.
  • It accumulates in cash value over time.
  • It provides available funds when needed if the insurance is paid-up to that date.

Universal life insurance is a form of permanent life insurance available in the United States. Under the policy, excess premium payments above the current insurance cost can be credited to the policy’s cash value.

Critical Illness Insurance

Critical Illness Insurance

Critical Illness Insurance Policies

Critical Illness Protection Will Always Come In Handy

Critical Illness insurance is a type of insurance that can provide a lump sum cash benefit to the insured if they are determined to have one of the critical illnesses identified in their insurance policy. This type of insurance was introduced in the late 1990s to help individuals cover their expenses associated with various critical illnesses.

Critical Illness insurance is applicable to any individual who is concerned about the risks of critical illness. The three primary illnesses covered under critical illness policies include heart attack, stroke and cancer. However, these policies may also cover conditions such as heart transplants, coronary bypass surgery, kidney failure, angioplasty and paralysis. Individuals may need this insurance for a variety of reasons, such as to pay for their medical treatments that are not covered by their health plan or to pay for their mortgage when they are recovering. Other reasons may include having cash to replace a spouse’s income while they are caring for the insured, and to pay for travel for treatments not available in the local market.

Critical illness policies work by significantly reducing the financial losses that are normally incurred without the insurance. As soon as an individual is diagnosed with a covered condition, the insurance company provides a single lump sum payment that is tax-free. Depending upon the specific policy, these cash payments can range anywhere from $10,000 to $1 million. In addition, some policies will provide multiple cash payments for separate critical illnesses. For example, if an individual is diagnosed with cancer and survives, they will receive a cash payment. In addition, they will receive another cash payment in a few years if they suffer from a heart attack.

There are essentially two types of critical illness policies, Simplified Individual Protection and Fully Underwritten Individual Plans. The Simplified Issue Individual Protection plans are issued after just a few health questions, are generally affordable and are available in amounts up to $50,000. Fully Underwritten Individual Plans are issued after medical information has been provided to the insurance company, and they are available in higher amounts.

Life Insurance

Life Insurance

Life Insurance Policies

A Short Guide To Life Insurance

Life insurance is a type of insurance that is designed to pay money to a designated person if the policyholder passes away. This insurance is a contractual agreement between the policyholder and the insurance company. As long as premiums are paid, the insurance company will pay upon the death of the covered person, with a payout that depends on the amount of the policy. There are three types of policies available.

Term life is one of these policies. It is a policy without a cash value. Due to this, people often choose it because the premiums are much lower than other life insurance policies. This type of coverage provides the policyholder with a specific amount of coverage for a specific period of time, known as the term. For example, a term policy can be valid for 10, 20, or 30 years. Premiums are set as a fixed rate for the term.

Whole life is another policy available. With this insurance, the benefits paid out include both a death benefit and a cash value. The policy continuously builds cash value, similar to a savings account, ensuring that when a covered person passes away, the benefits are paid in addition to the policy amount. Policyholders are also able to borrow against the cash value amount if needed, unless it is a variable policy. The premiums are slightly higher than term life.

Universal Life insurance is the third policy type. A universal policy is a lifetime insurance that allows the policyholder to change premium amounts, death benefits, and aspects of the cash value including how much goes to premium payments and how much is invested. On the other hand, a universal variable policy is a combination of a variable whole life policy and its investment flexibility with a Universal Life policy and its abilities to change benefit and premium amounts.

Renters Insurance

Renters Insurance

Renters Insurance Policies

While there are many types of insurances that exist, if you rent an apartment or home, it can be beneficial to invest in renters insurance. This type of insurance can protect the assets in your home, in the event that disaster strikes. This means that if an event such as theft occurs, you can file a claim to get compensation for your stolen or damaged personal belongings.

This type of insurance is meant for anyone who lives in a house or apartment, but does not own the property. Your landlord is responsible for insuring the actual building, but you are responsible for insuring your personal items with renters insurance. If you choose not to insure, you could lose your personal belongings if a disaster occurs.

Once you file a claim, the insurance agency will determine if you have a valid claim. If you didn’t cause the damage to your home, you will likely have a valid claim. The insurance company will then pay you based on your limits and the plan that you have. Certain items, such as jewelry, have a max payout amount.

A standard insurance policy will cover the items in your home that are damaged by theft, fire, plumbing issues, etc. You can choose to invest in an actual cash value or replacement cost policy. An actual cost policy will only pay your item’s value at the time that it was stolen. On the other hand, replacement cost will pay you what it would cost to replace the item. You can also consider adding renters liability coverage, which can pay for medical care if someone is injured at your home. An agent can help you choose the best option based on your situation.

The main benefit to investing in this type of insurance is having the ability to protect your personal property. You never know when disaster can strike. Another benefit is that you can have less stress. No one likes to live their life in fear. With renters liability coverage, you can also benefit by being able to cover the cost of medical care if a loved one falls or becomes injured while visiting your home.

Recreational Vehicles

Recreational Vehicles Insurance Policies

Recreational vehicles insurance is needed for all vehicles that are recreational in their nature. Large motorhomes need these insurance policies, but there are also small RVs or off-road vehicles that need these insurance policies. Every driver who uses these vehicles needs to have one of these insurance policies. They need to make sure that they have something that is going to keep them on the right side of the law. These insurance policies are required by law, and people cannot afford to pay for the repairs on their vehicle or someone else’s vehicle when there is an accident.

These insurance policies make life easy for people. The claims are often filed by the people who do the repairs. The owner of the vehicle can call to file their claim, and the customer service associates will help the driver get their claim filed as easily as possible. These insurance policies are going to help to cover damage to the vehicle on the road, damage when they are in use or damage in an accident. The collision policies that people use are going to pay for the damage to the vehicle only. Also, these policies tend to be less expensive. A comprehensive policy pays for medical expenses, loss of personal property, a rental car, roadside assistance and other items that can be very expensive.

The major benefit of one of these policies is the protection. People could spend a great deal of money on their recreational vehicles, but they need to have something that is going to help them care for their vehicle. The policy is going to make it easy for the driver to take care of their vehicle, and the driver will be able to help other motorists who are involved in accidents with them on the road. These policies are necessary before the vehicle is put into use.

Earthquake Insurance

Earthquake Insurance

Earthquake Insurance Policies

The Truth About Earthquake Insurance

The unpredictable nature of earthquakes can leave behind a wide range of devastation. Safety plans and emergency supplies play a role in preparing people for possible disaster. In addition to personal safety, people may want to consider earthquake insurance to safeguard against property damage or loss.

Earthquake coverage is not part of typical Home insurance policies. This type of coverage tends to be comparable to the cost of Home insurance, and can be added onto an existing policy. Thus, people living in low-risk areas may want to evaluate the cost effectiveness of purchasing earthquake coverage. Even people living in high-risk areas need to consider the financial cost versus potential earthquake risk.

Policies vary as far as what may be covered. Coverage might include:

  • Dwelling: The actual structure of the home
  • Contents: Personal possessions

This type of insurance may cover damages caused by earth shifting movement such as:

  • Earthquakes
  • Mudslides
  • Sinkholes
  • Mudflows

Following an earthquake, damages will need to be assessed and detailed, either through written documentation or photographs. Doing so will speed up the process in filling a claim and providing you with protection at a faster rate. Our agents are available to assist you in receiving the coverage you deserve.

Earthquakes can cause total devastation to property or damages that may not be apparent for days or weeks after the event. Whether or not to purchase earthquake coverage depends on several variables. These variables include the following. Whether or not the property is located in a high-risk area and how much equity is invested in the home. Insurance policies are designed to protect all types of valuables. Thus, careful consideration needs to be given to a person’s most valuable investment of all: the home. Don’t let an earthquake shake you down. Learn how you can benefit from Earthquake insurance.

Homeowners Insurance

Homeowners Insurance

Homeowners Insurance Policies

Homeowners insurance is an important element in any homeowner’s life. This insurance will protect a homeowner against various events, such as fire, theft, vandalism, storm damage, and other disasters. By paying a premium and deductible, homeowners will greatly decrease the costs associated with recovering from these damaging events.

Home insurance is for anyone owning a home. When choosing an insurance plan, homeowners will have several options. First, they will choose a plan that covers the value they choose. Most homeowners choose to cover the value of their home, plus the value of their personal items inside the home. A higher value will result in a higher premium. However a higher value also means that you are covered for more damage.

Most plans will also vary in the frequency of payments. Typically, a homeowner can pay a lower premium by paying for insurance in larger portions, like yearly or quarterly. A monthly payment plan is also an option, but may result in a higher price overall.

In the event of a disaster, the homeowner will submit an insurance claim. Typically, there is a deductible associated with the plan that must be paid when a claim is submitted. The deductible is also an option that can affect the rate of the insurance plan. A higher deductible means that the owner pays more when damage occurs, but they will pay less of a premium for the plan. Once the deductible is paid, the insurance covers the rest of the property damage. If personal belongings were also insured, then the company will also cover the cost of replacing those items.

While homeowners insurance may seem expensive, the benefits are invaluable. There is nothing that can replace the piece of mind that a homeowner received by knowing that their property and belongings are protected by an insurance plan. With a plan, homeowners will not suffer a financial burden from any devastating event.