Restore Benefits in Health Insurance Restoration benefit in health insurance is a feature that allows you to replenish your health insurance’s deductible and out-of-pocket maximum after you have met them. This can be a helpful way to save money on your health care costs, especially if you have a high-deductible health plan. There are a…
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Quick Guide To The 2024 Open Enrollment Period When is Open Enrollment? Open Enrollment for 2024 health insurance coverage will begin on November 1, 2023, and end on January 15, 2024. Who can enroll during Open Enrollment? Anyone who does not have health insurance through their employer or other qualifying source can enroll during Open Enrollment.…
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Primary Factors That Affect Health Insurance Premiums The cost of Health Insurance premiums can vary depending on a number of factors, including age, health status, location, and the type of plan you choose. Here are some of the primary factors that affect health insurance premiums: Age: Younger people typically pay lower health insurance premiums…
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7 Tips to Plan Your Health Care After Job Loss Losing your job can be a stressful and overwhelming experience. On top of dealing with the emotional and financial challenges, The last thing on your mind is your health care status. But if done well. Taking advantage of your health care before it runs out…
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Qualifying for Long-Term Care LTCI contracts have two distinct benefit triggers—a loss of physical function or the existence of cognitive impairment. Loss of the Ability to Perform Two Activities of Daily Living (ADLs) The inability to perform two or more of six physical functions is collectively defined as the basic activities of daily living (ADLs).…
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Benefits of Decreasing Term Life Insurance Decreasing term life insurance is a type of life insurance policy that provides coverage for a specific period of time, such as 10 or 30 years. The death benefit of the policy decreases over time, in line with the outstanding balance of your mortgage or other debts. This type…
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A 1035 exchange is a provision in the Internal Revenue Code that allows you to exchange one insurance policy or annuity contract for another without having to pay taxes on the gains in the original contract. This can be a valuable tool if you are looking to change your insurance or annuity for a different…
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Life Insurance Living Benefits Life insurance is typically thought of as a way to provide financial security for your loved ones after you die. However, many life insurance policies also offer living benefits, which can provide you with financial assistance while you are still alive. Living benefits are riders that are attached to life insurance…
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Accelerated Benefit Rider: How It Works An accelerated benefit rider is an optional add-on to a life insurance policy that allows the policyholder to access a portion of the death benefit while they are still alive. This can be helpful in a number of situations, such as if the policyholder becomes terminally ill or needs…
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How Much Disability Insurance Do I Need? Did you know that 1 in 4 people will become disabled before age 67? An astounding statistic. That in it self should be everyone’s drive to plan ahead. Disability insurance can replace a portion of your income if you’re ever too sick or injured to work some time…
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