Archive for November, 2009

Doing It Before One Dies

Not a lot of people like to talk about life insurance as it reminds them of their mortality.

It’s understandable that people don’t want to discuss their own death and thus would put off buying life insurance as a way of “avoiding” the issue. Delaying a life insurance purchase will often make it much more expensive and if this delay is combined with other health factors, this might reflect a picture of a high risk individual to insure; not a benefit for life insurance companies.

Buying life insurance needs to be an informed process where the consumer knows about the options available to them, such as knowing the reasons why they want life insurance, what level and type of insurance they want, and what life insurance broker is able to provide what they want.

One rather common perception is that if a person has no dependents, then they don’t need life insurance. The reality is that people choose to get coverage for a variety of reasons that may include the wish to provide for loved ones after death. It may be just the simple wish of providing life insurance funds to cover funeral expenses or a small sum for the beneficiary to live on. The reasons don’t matter, but the comfort such insurance provides is tangible.

It’s also a good idea to have in mind whether a level term or decreasing term would suit present circumstances. Factor in the amount available to budget monthly and if the overall amount to be insured for is flexible or fixed. An expert life insurance broker will tailor a quote to suit those needs. Always include things like car loans, credit card debt or mortgages into the initial calculations for insurance coverage.

Don’t lie on the insurance application form, as this will be caught later and it may result in the suspension of the policy. If the “fib” is caught later, the insurer may refuse to payout on any claims.

Try online life insurance quotes, however remember that at best many of them are “general” in nature and don’t always address specific concerns or needs. To address those things, speak to an expert life insurance broker about the proper cover.

To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Wednesday, November 11th, 2009 Press Comments Off on Doing It Before One Dies

The Myths of Insurance

Insurance is an area that everyone seems to have an opinion, and often that opinion is completely wrong.
It’s a reality that most insurance policies are filled with so much jargon, it’s really hard to make sense of what they are really saying. It’s not much wonder that people make up what they think it says and then try to deal with it later, and pass along those misconceptions to others.

The bottom line is that there are a number of myths that people need to know about to set the record straight about insurance. For instance that famous myth about a person’s job disability will cover them. It’s amazing how many people think lost wages will be covered through their employer’s long-term disability insurance plan. Don’t look now, but that is definitely a myth.

Generally speaking a typical group policy pays about 60% of a person’s wages up to a specified “limit,” such as $4,000 a month. The policy won’t replace bonuses or commissions either. Know what the policy says before assuming something that turns out not to be true and affects the ability to pay bills. Make it a point to speak to an expert insurance broker who will explain what to do if there is not enough insurance, e.g. buy an individual plan that pays up to 70% to 80% of an individual’s salary, etc.

Another prevalent myth is the one that says the homeowner’s policy will cover a lot of things. The problem here is that a lot of homeowners think they are covered for everything including the kitchen sink, and they might “not” be. Read the fine print. A standard homeowner’s policy has limits, and riders are usually needed for things like damage due to power outages, wind storms, earthquakes and sewage backup.

Interestingly enough, many Americans don’t feel they need long-term care insurance; it’s only for seniors. The thing is everyone ages and not always gracefully as one would like. In addition, people think the government helps with long-term care, but in reality Medicare only offers short term care after hospitalization. Look for coverage earlier in life and be prepared.

Drivers often think low deductibles are better for home and vehicle policies. This is definitely a myth because the lower the deductible, the higher the premiums. In addition if a person tends to make a lot of small claims, this works against them because they are costing the insurance company money.

There are more insurance myths that make the rounds with amazing regularity and many of them can be explained by an expert insurance agent who has seen just about everything and cares about his customers. Ask around and find out the “real” truth about insurance and what it does. The answers may be rather surprising.

To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Sunday, November 8th, 2009 Press Comments Off on The Myths of Insurance

The Necessary What-Ifs of Life

One necessary “what if” in life is life insurance, but during this recession, life insurance seems to be the “last” thing that people buy.

Buying life insurance during a recession is one of the last things that people tend to do, rationalizing that any spare money they have needs to go toward keeping food on the table and a roof over everyone’s heads. It goes without saying the many business sectors have been drastically affected by the stunning drop in the economy, and the life insurance business is no exception.

You should be aware that despite the tough times, life insurance “does” make a great deal of sense. It is one of the smartest investments you can make. What makes life insurance slightly different from other financial sectors is that most bill payments are binding and can’t be allowed to lapse without some serious consequences.

Life insurance may lapse if the premiums aren’t paid, but that is all that happens. The insurance lapses and you don’t pay any more premiums, but then, you don’t have life insurance coverage either. Yes, many people think that buying life insurance for those “what if” things that “might” happen in the future is not as necessary as buying food, etc.

Recognizing this, life insurance brokers have been taking a hard look at the products they offer. These days many life insurance companies are asking themselves what they need to do to retain their customers. On the other side of the fence, many customers are thinking that they can do without life insurance until their economic situation improves, and resume the same level of coverage when they are ready to start paying on premiums once again.

This is a misguided assumption as age is a critical factor in buying life insurance and in determining the premiums. This is a risk factor that all life insurance companies use to insure consumers. The older you happen to be, the higher the risk of the life insurance company paying out. That means higher premiums or a smaller sum on payout on death. Put another way, letting your life insurance lapse may mean your life insurance will be “more” expensive when you resume coverage than if you have kept the policy in force.

Perhaps the most critical point to remember is that life insurance is intended to take care of those left behind in the event of a death; to provide them with a safety net if you will. With insurance companies re-evaluating their customer service approach, there may be incentives available for you to retain your life insurance policy even during rough financial times. Ask your broker what options may apply to you.

Evan Tunis is with FloridaHealthcareInsurance.com, the leading provider of Florida health insurance quotes. To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Thursday, November 5th, 2009 Articles Comments Off on The Necessary What-Ifs of Life

Millions Don’t Have Life Insurance

It’s true, millions of people do not have life insurance and when life throws them a curve, it may spell disaster.

A little long range planning for your life is a smart thing, particularly if you have a family to care for and responsibilities to handle. Consider the case of the young family whose father was the picture of health at the age of 38 years old. Then one day, something went wrong and it was discovered that he had stomach cancer.

A few short months later, the young father died leaving two children and a wife to grieve for him and a pile of bills to boot. The thing that makes this scenario different is that this young dad had life insurance and because he did, he was able to provide for his family, even in death.

Life does have a way of biting one when they least expect it and it’s usually a good idea to be protected for those “what if” moments that tend to come along. Life insurance doesn’t have to be really expensive or even have a lot of bells and whistles, but if does need to keep your family safe. For this reason it’s a smart thing to speak to an expert life insurance broker who knows what products will suit each individual.

Statistics indicate that there are almost 68 million Americans who have no life insurance at all and conversely, those who do have it, often don’t have enough to cover what they need. This is where it makes good sense to speak to a life insurance broker with extensive experience in making sure your life insurance “thinks ahead” of you for just about any eventuality. Nobody wants to die early or suddenly, but it does happen; that “is” life, and what “life” insurance is all about.

One of the questions people ask most often is when they do decide to purchase life insurance, just how much they will need? Actually, the better question to ask is what would you like to have happen in the event of a death? Put another way, what do “you” want?

The more questions you ask, the better it is to get a life insurance policy and package that suits your unique needs. Dealing with a life insurance broker who knows the ropes is the first step in a lifelong relationship; one that will stand you in good stead if something ill fated transpires.

For instance if you think far enough ahead to make provisions for your family, they will not need to move out of their family home should a parent die suddenly. Nor will they need to substantially alter their lifestyles if they have the right plan done in concert with your life insurance broker.

While life goes on no matter what happens, it’s a smart thing to plan for the unexpected, even if it doesn’t happen. Being prepared for those detours in life is what life insurance in all about. You can’t get a better deal than knowing your family is protected should you not be here. Planning ahead and having the “right” life insurance means not having to deal with financial distress as well as emotional distress.

Evan Tunis is with FloridaHealthcareInsurance.com, the leading provider of Florida health insurance quotes. To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Monday, November 2nd, 2009 Articles Comments Off on Millions Don’t Have Life Insurance

Can I get Florida Health Insurance with a Pregnant Spouse?

I had a client recently who was looking to get insurance for her husband. She was on her company’s works plan which was covering the cost of her upcoming baby. Since the cost of adding her husband to her companies plan was more then she could afford, she asked me if it were possible to get him on an individual plan.

My response to this client was NO. All carriers in Florida will NOT cover the baby because the husband can claim the baby as a dependent; which means the baby’s on the policy non-underwritten.

If you have any questions regarding maternity or Florida Health Insurance please contact Evan Tunis at 800.946.3157.

To learn more about Florida health insuranceFlorida health insurance quotesFlorida life insurance,Florida life insurance quotesFlorida group health insurance visit Floridahealthcareinsurance.com.

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Monday, November 2nd, 2009 Blog Posts Comments Off on Can I get Florida Health Insurance with a Pregnant Spouse?