Why is Life insurance important?

• To pay final expenses: cremation/burial, memorial service, final medical expenses, and family needs. *nobody else pays for this!
  
  
• To provide an income or nest egg for remaining family members: children- who will care for them and how will they afford a new expense? (Grandparents, siblings, or friends). Spouse- replacing a lost income or the duties that were provided. The goal of keeping life as normal as possible- grief is already hard enough- life insurance can help alleviate the financial stress.
• Clean up existing debts- wipe out as much debt as possible for loved ones.

How do I accomplish this?

There are several types of life insurance available- we are here to help you find the best fit both in coverage and expense.

• Term- largest available amount now for least cost. – Expires (like renting)
  
  
• Universal- builds equity but does not have guaranteed fixed costs- these could go up. (like buying a mobile home on a rented lot)
  
  
• Whole- more costly but creates a life long protection and builds cash value. May be used for retirement needs or future income. (like buying a home)
  

Why do people put this off?

1. Assume I can get it later.
   
   
2. I’ll buy it when I have a family.
   
   
3. I have group insurance through work.
   
   
4. My husband has coverage- I don’t need it.
   
   
5. My family can cover the expense.
   

 

Medicare has become one of the most frequently asked about lines of coverage in our business. With all the options available and Medicare Advantage plans becoming more popular, we find that our clients appreciate the local and personalized service we are able to provide.

Medicare Supplements

There are 12 standardized plans lettered A-L and are the same from company to company. These plans are created to "supplement" or "fill the gap" that Medicare leaves. There are no co-payments or network restrictions with these plans, they simply cover any expenses that Medicare approves. The benefits that are paid out under these plans are the same no matter which company you choose. As a consumer you will want to look for a premium and service level that coincide with your expectations.

 
Medicare Advantage

Medicare Advantage plans have become increasingly popular since the Medicare Modernization Act of 2005. These plans differ from company to company, plan to plan, and year to year. Often times referred to as "Medicare with Perks", these plans typically offer lower monthly premiums coupled with co-pays and co-insurances, and may offer services not covered by Traditional Medicare, such as annual physicals, vision, dental benefits, and prescription benefits. These plans may have network restrictions or geographical restrictions. We are finding that many area doctors are choosing to work with some plans and choosing not to work with others. Due to the complexity of these plans and various restrictions, we urge you to enlist our guidance to make sure you are matched with the best plan for your needs.

Medicare Part D

Introduced in 2005, this is the prescription plan that Medicare offers. There are over 50 plans in our area, each with different premiums, co-payments, and deductible amounts. Let us do the legwork for you: provide us a list of your current medications and we will find the best plan for you. We do recommend reviewing your plan annually as the formularies (how they list the drug) may change, causing a higher or lower co-payment on your part.