Month: September 2018

Health insurance is one of the easiest ways to protect your family (and yourself) in times of crisis in the US. Unless you’re able to afford potentially crippling medical bills after a visit to the doctor, you should certainly consider investing in health insurance to give yourself some peace of mind. Here we offer you the best reasons to get health insurance.

Money

Obviously, this is the biggest reason. The US Department of Health and Human Services reported in 2016 that the annual medical bill for each US citizen was a staggering $10,345. Although your medical bills may be relatively low right now, this can quickly change if you develop a serious condition. A decent health insurance policy will shift all (or most) of these costs to your insurance company, leaving you financially well-off in times of need.

Less Anxiety

Many of us enjoy having decent insurance plans because it allows us to have “peace of mind” that we’re going to be okay should any problems arise. Even if you are relatively healthy right now, you may have conditions which run in your family that could affect you in the future. Having health insurance in place simply allows people who are prone to worrying to relax a bit more, knowing they are going to be okay if their health should deteriorate or worrying symptoms should appear.

You’re More Like to Stay Healthy

Many US citizens who do not have health insurance will avoid visiting a doctor if they develop strange symptoms or feel unwell – they would rather save the money on the doctor’s visit, or perhaps cannot afford to go at all. As a result, they may end up becoming seriously ill or developing a life-threatening condition (such as cancer) which could have been easily prevented or caught early by simply going to the doctor.

The Government Currently Makes it Cheap

Although the Affordable Care Act by called into question under Trump, it still currently allows many families to get health insurance policies at large discounts if they purchase them through their state’s health insurance exchange. Levels vary depending on your income, but you could be entitled to sizeable tax credits every month, meaning that you will be able to protect you and your family for a few dollars per month due to government subsidies – something you would be wise to take advantage of while it’s still around!

You May Get Fined if You Don’t Have it

As strange a system as it is, you may be fined if you don’t have health insurance according to the ACA. As of 2015, adults could be fined $325 for themselves, $162.50 for their children, or 2% of their overall annual earnings, whichever amount is greater. Although a government penalizing its people for not having health insurance is a strange system, it may be their way of telling you that it’s for the greater good.

Preventive Care

If you have a health insurance plan, you are entitled to a number of preventive health services which the federal government provides for free. For example, you will be guaranteed free blood pressure screening, cholesterol screening, vaccines, colorectal cancer screening, and much more. There are even services which help you to curb any health-harming habits surrounding tobacco and alcohol. These preventive care services are likely to help you maintain a healthier lifestyle and catch certain insidious ailments before they worsen, meaning you are more likely to be healthy going forward.

You’ll Manage Your Health More Effectively

If you don’t have health coverage of some kind, the cost of medical bills, medication, and treatment can be overwhelming and difficult to manage, leading many people to ignore their doctor’s orders because they simply cannot afford the drugs and treatment they should be seeking. If you’re avoiding surgeries or adequate drug doses because you can’t afford them, it goes without saying that you’re more likely to see your health decline, sending you into a vicious circle whereby your health deteriorates and your bills rise, making your both poor and ill.

There are many different kinds of health coverage available out there, and it can be hard to know which type of insurance is right for you. If you’re looking for affordable health insurance which protects both your body and your bank account, speak to a member of our passionate team today!

Who needs life insurance exactly? Is it just for middle-aged people who support a family? Life insurance could be a good idea depending on many different factors in your life, and here we list a few of the most important.

Families

If you are thinking about starting a family, you should certainly consider buying life insurance, and rates will be cheaper now than when your children are already growing up. On the other hand, if your family is already existent, you especially need life insurance. This could apply to parents whether they are a “breadwinner” or “house husband/wife”, as replacing either of those roles could prove costly in different ways.

Homeowners and mortgage holders

If you’re buying a mortgage, you can opt to choose a life insurance policy which covers your mortgage debt and would safeguard the interest, meaning you wouldn’t have to purchase separate mortgage insurance. In this case, life insurance can see to it that your mortgage debts are paid off if you die, leaving your family and loved ones with nothing to worry about financially.

Couples without children

In this situation, both partners would have to consider if they could individually support themselves if their partner died. If they couldn’t, life insurance may be a good idea. However, if one of you earns more than the other, this process can become complex. You may want to consider first-to-die life insurance policies (lovely name) which mean that one partner receives the death benefit if the other dies first.

People who are insured through their employer

You can still buy your own life insurance policy even if your employer provides you with one. Relying on an employer life insurance policy is risky, mostly because you could lose your job or the company could go under. Furthermore, you’ll lose the policy if you switch companies, complicating the process further. Even if you have been with the same employer for decades, a small backup life insurance policy of your own is not a bad idea if you’re looking to cover all your bases.

Business owners

People who own a business or have a business partner are incredibly important to the functioning of many people’s lives (i.e. your staff could lose their jobs if you die). As a result, you may be wise to opt for a life insurance policy which takes your business obligations into account and softens the financial blow to your empire should you pass away.

Your parents

You can buy life insurance on your parents, securing a death benefit to yourself as the beneficiary when they pass away. Assuming you are paying the premiums, you should put yourself down as an irrevocable beneficiary in order to secure the investment. If you do this when your parents are still young, it could be a wise financial decision.

As you age

If you are elderly and no one depends on you financially, traditional life insurance would not be necessary. However, you may wish to take out a policy which covers your funeral expenses, although this may not be easy to come across. One thing to consider, however, is that life insurance in your later years could protect your estate from being subjected to steep taxes, retaining its value and leaving more money to your heirs once you pass away. Nonetheless, this is a complicated process, and it’s best to speak to an attorney if you’re looking to save on taxes in this manner.

Young single adults

As a young single adult, you may require life insurance to pay for your own funeral costs in the event of your death, or you may support someone financially who isn’t a child or spouse, such as an elderly parent or family member. Also, the younger and healthier you are, the cheaper your life insurance premiums will ultimately be, making them cheaper as you age and if you decide to start a family in the future.

With so many types of life insurance out there, it’s no surprise that people get confused. If you need help with getting the right life insurance for you in your personal circumstances, speak to us today and take note of our industry-leading advice!