The maximum out of pocket annual expenditure is the key to the value of the Medicare supplement plan F high deductible. The annual or monthly insurance premium must be paid regardless of your health condition or services you need. If you have a high insurance premium, you are guaranteed to pay a high amount each year just to keep your policy. With a low insurance premium and high deductible, your Medicare costs will remain low and are typically capped near or below what would be your annual premium with a regular medicare Supplement Plan F. In other words, in the good years your costs are low, in the bad years your costs are only about as high as they would have been with a normal Medicare Supplement Plan F. Consider that the average annual medical claim is only about $500 and seniors seldom spend more than $2,000 per year, with most years you will save well over $1,000 per year compared to a standard Plan F. With a Medicare Supplement Plan F High Deductible, your guaranteed annual out-of-pcket maximum is close to or less than your regular Plan F premiums for seniors in Florida.Read More →
…Enter Medicare Supplement Plan N, one of the most popular Medicare Supplement plans in the country because it covers all the most significant potential medical expenses, but at a cost much lower than a Plan F. In fact, the premiums for Medicare Supplement Plan N are often 30% to 35% less than Plan F. Medicare Supplement Plan N is one of the most popular Medicare Supplement plans in the states of Florida and Pennsylvania, as well as many other states across the country because of the cost to benefit features that make it one of the best values in Medicare Supplement plans. In addition, as we detail below, there are features of Plan F and Plan G that are simply not necessary because of State laws limiting Medicare charges. In that case, seniors with a Plan F or Plan G are paying for insurance coverage they don’t need and will never use.Read More →
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We talk to seniors about Medicare SupplementRead More →
Many diabetics fear that affordable life insurance is out of reach. But, there is Life insurance for diabetics and it is affordable. It simply takes an agent skilled in insuring people with preexisting conditions to get you the best policy at the best price.
It happens every day; a person walks into a doctor’s office expecting to need a new prescription to cure what ail them and instead hear a diagnosis that is life changing. It’s scary uncertain time and even if their illness is not immediately life threatening the full consequences of the diagnosis slowly come to light. Oddly enough, we get telephone calls almost every month from a person who just had such an experience and then asks; is their life insurance for diabetics?Read More →
…the advantages of living benefit life insurance policies can anyone avoid bankruptcy and the most severe finanical impact of a major health event. You can avoid financial hardship with living benefit life insurance.
Indeed, it’s problematic that a comprehensive insurance policy will cover hospital fees yet will not assist with the essential life and family expenses like mortgage, car, loan, and tuition payments that put financial strain on recovering patients. When an illness prevents someone from working, simply paying off hospital bills is not enough. Many struggling with this issue find themselves going through bankruptcy–all while the money they have put into a life insurance policy sits untouched.Read More →
Whole life insurance is a permanent insurance; which means it will continue to insure you for your life time as long as you pay the premium. The premium never increases and the benefit never decreases. Like all insurance policies, the best time to purchase whole life insurance is when you are young and healthy. Doing so will lock in a low insurance rate for your entire life. It will also allow the policy the time it needs to compound your cash value without taxation into a serious nest egg.Read More →
Term insurance is a great tool to insure against the financial consequences of a premature death for a limited amount of time. Examples of needs that may be ideal for term insurance include a mortgage or other major loan payment and dependent children. Your financial obligation toward your children ends once they are out of college and live on their own. While the exact time period is different for every family, unless there is an underlying disability issue few people expect to be supporting their children well into adulthood. Similarly, mortgages and other major debts will typically have a finite period. Eventually the debt is paid off and the need to insure that expense against a premature death expires. Mortgage protection insurance can be either term or permanent depending on the consumer need and budget. Term insurance vs. cash value insurance should both be considered.Read More →
Every life insurance we know of that also offers living benefits will have some conditions that require a loss of two or more activities of daily living to receive benefits for chronic illness. (There is no such requirment for critical illness) Every Long-term Care policy we know of includes these loss of activities of daily living as a condition for benefit. It is important that consumers understand the concept of activities of daily living so that they understand the benefits of long-term care insurance and long-term care riders within some life insurance policies.
Because of the advent of living benefit life insurance, consumers no longer need to purchase two separate policies to protect themselves and their families. In some cases, the long-term care benefits within a life insurance policy do not require a higher premium than the old life insurance, no other cases the premium is nominal.
This means that we can now own a life insurance policy that also acts as a long-term care policy without paying extra! This substantial cost savings means more families can protect themselves from life events that can destroy their next-egg and severely disrupt their quality of life.Read More →
While term (or temporary) life insurance offers insurance coverage with the lowest monthly outlay when we are young, permanent (or cash value) life insurance is usually the lowest cost over our lifetime. In addition, cash value life insurance can be an important part of your retirement plan as you can use that insurance for retirement income.
Cash value life insurance comes in several forms, but they all have common features; the insurance will not expire as long as you pay your premiums and they build up a cash value on a tax deferred basis that can be accessed during your life time. In fact, you can access that cash value tax free, for any reason, by “borrowing” the cash from your policy. In this case, you become the banker. You must charge yourself a reasonable interest for borrowing the funds. If you choose not to pay back the borrowed funds, then the amount borrowed plus the interest is deducted from your death benefit when you die. Either way, you can use the cash value in your insurance for retirement income.Read More →