Contrary to popular opinion in a volatile market, it is almost always a smart business move to offer some form of group insurance to workers. The benefit markedly boosts employee loyalty, aside from the fact that coverage maintains the health of those that work for you. Group insurance is also surprisingly affordable. When you buy a plan for a large group, premiums fall; the economics of scale kick in when there are bigger numbers involved. And smaller groups than you may think are considered “big” in the insurance realm.
Additionally, you can form a group of small business owners and leverage the numbers to get reasonably priced group insurance. It’s worth the effort to reduce the premiums for personal insurance. There are many ways to form the group you want to get the kind of insurance you need — not just for your workers, but for yourself as well.
Even as the U.S. economy begins to recover, life insurances purchase rates remain extremely low.
The desire to delay is understandable, but now is the best time to put life insurance in place. Life insurance will provide coverage for your family if something should happen to you. Without life insurance, how would your family cope financially? Where would they find the funds necessary to honor your memory with a funeral and burial? How would the kids ever be able to go to college or trade school?
Many Americans do not realize that life insurance premiums are some of the lowest in the marketplace and very flexible. In fact, if more people took the time to find out about how life insurance really works, there would be less general anxiety surrounding its purchase (and more protected families) across the country.
While you may realize that you need Medicare insurance as you approach the age of 65, you may not know that you probably also need Medigap insurance to fill in the gaps that Medicare will not handle. It’s confusing to try and figure out how each plan works, so trying think of it like this: Medicare and Medigap are partners in health care, offering seniors plans tailored to suit their personal needs.
Medicare or Medigap policies are not always easy to understand at first glance, but fortunately, plenty of help is available. Before you apply, make sure you find the resources you need to determine exactly what you want and need from your insurance. When you approach the purchase of a policy with a list in hand, you can get what you want for the price you are able to pay.
Posted on Thursday, April 17th, 2014. Filed under Medicare
In 2014, everyone who has not previously held health insurance is required by law to obtain it through a health care exchange. Unfortunately, the process is seemingly fraught with a number of serious glitches and security issues. What’s an average American to do when he or she wants to sign up for health insurance? With the frustrating setbacks, people are struggling to “convince” the system to let them complete their forms or proceed through a frozen site.
Fortunately, there are other options for those trying to use a health insurance exchange. Private health insurance may seem too expensive at first glance, but the marketplace is very competitive right now. As such, now is the best time to take advantage of price fluctuations. If you want to gain control over the health insurance plan and budget you choose, you may prefer to deal with private insurance companies. Not all government-run agencies are effective, efficient or simple. If you want to ensure that you meet requirements without undue hassle, private insurance likely offers your best alternative.
Many workplaces offer group disability coverage, but not many workers understand just what that coverage means for them.
In a nutshell, group disability insurance covers an individual for a certain percentage of regular pay if he or she can’t work due to an illness or injury. In many cases, policies cover up to 60 percent of that regular pay. The figure may vary according to the base rate of pay on the policy. Once an individual claims benefits, he or she pay taxes on them: they are regarded as income, just like a regular paycheck. However, the income is derived from an insurance company, not from your regular employer.
Every group disability insurance policy is different, but all are likely to feature “Any-Occupation” and “Own-Occupation” disability categories. The Own-Occupation category covers the insured 24/7 for 24-36 months. if the employee still can’t work after that period of time, the insurance company may dispute continued payments under the claim and insist that the person find work in another area if he or she is capable of working.
Each situation is different, and it pays to know just what your group disability insurance covers. Ask questions and find out before you find that you need to use it.
For many Americans, life insurance enrollment presents a contentious decision. Many wonder how to pay for health insurance alone; the addition of life insurance seems overwhelming. Fortunately, if your employer offers group life coverage, your costs will be significantly lower than they would be if you chose to buy a policy on your own. Check to see what your workplace offers. There are always advantages under the umbrella of a group life insurance policy.
Also, remember that, even though some of the events covered by your group life insurance will not be applicable to your situation right now, they may become relevant later. Consider your lifestyle carefully before declining to enroll in a group life policy at work. It’s usually better to be safe and covered than sorry and stranded later.
You may find that your employer offers you vision coverage. If not, you can opt to carry your own plan (which is possible and extremely affordable). When you select the insurance coverage you want, you may face various choices (including the decision to enroll in a plan at all).
Typically, carriers offer two types of vision plans — advanced, for the “tougher stuff” including detached retinas, glaucoma treatments or laser therapy, and basic, for the regular checkups and glasses you have or may need in the future.
Do you need a vision plan? A vision plan offers proactive health care options, no matter what your current needs are. Regular checkups allow you to stay on top of any changes in your vision. Those visits will ultimately cost you less than a major, neglected discovery would.
While some health insurance plans do come with a vision and dental component, most of them do not. If you need and want dental coverage, make sure you ask your insurance agent precisely what is included in your potential policy. If you buy health insurance assuming you have dental and vision coverage, you might find out later that the cavity you had filled costs you money directly out of your pocket.
At the dentist’s, ask about the various categories of coverage. Many dentists classify various procedures differently, which may affect what kind of dental plan you want from your insurer. Similarly, if you enroll in dental coverage through your workplace, check your policy. Know what to expect when you make a dentist’s appointment.
Workers at smaller companies are often offered group health insurance as a benefit. In fact, many potential employees consider it a major factor when making their employment decisions.
Group health insurance is frequently less expensive than far more limited personal insurance policies.
Individual insurance is often very expensive. Even if a person opts to buy personal coverage through a health exchange, he or she will likely pay more than a person participating in a company group policy.
Group health premiums are lower. Workers may not be denied coverage because of pre-existing conditions, a major benefit for many Americans. Additionally, most group health plans let workers extend their coverage to their families and/or dependents.
Whether the group health plan offers HMOs or PPOs (the two major types of plans), there is usually something for everyone.
If you have the chance to get group health insurance for a lower cost than your personal policy, you and your family will benefit.
Life insurance policies are much more affordable than most people realize. Moreover, they offer priceless support to families of deceased loved ones.
When someone dies without life insurance, those left behind suddenly face a dire financial predicament. That person’s income is no longer a part of the household. Kids will need school supplies. Spouses need medical care. What about the mortgage?
Without the protection life insurance offers, a family may have to grieve and face devastating lifestyle changes simultaneously in order to cope with their new reality.
For a few pennies a day, one can find a life insurance policy that suits individual circumstances and leaves a family a legacy of love. Money can never bring a person back, but it can allow a family to continue their lives while adjusting to a loss.
Life insurance policies are one of the best ways to protect loved ones. Ask a qualified insurance broker for more details.