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3 Insurances Everyone Should Have

insurances most people should purchase

  Insurance is one of those funny things that most people hate buying, try to never use, but are gloriously thankful for if the right situation comes along. There are some insurances that I believe we can do without, but I think there are 3 insurances most everyone should have; health, life, and disability. There are Still Tons of People without Health Insurance Despite over 11 million new signups for health insurance through Obamacare, there are still plenty of people who don’t have health insurance. The penalty for not having insurance is not enough of a deterrent for many people, and the list of reasons you can forgo the penalty due to a hardship exemption is broad enough to cover just about anyone who doesn’t want to purchase. For those of us who don’t qualify for a subsidy or for those who don’t want one, seeing premiums double or triple every year makes it tempting to go without, especially for the young and healthy. I had a patient just this week who was upset that her insurance didn’t cover eye care, despite a $700 a month premium. She said she was thinking about droping insurance and saving that money to ...

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Is Supplemental Health Insurance A Good Idea Or A Rip Off?

pros and cons of supplemental health insurance

Supplemental health insurance plans, made popular by that annoying duck on the TV commercials, are on the rise. Aflac and its duck are now insuring over 40 million people. It’s very possible your employer might have had a presentation at work about the benefits of supplemental health insurance. With deductibles on the rise and actual coverage on the decline, it might seem like a good idea. How do you know if you need supplemental insurance coverage or if it’s a rip off? What is Supplemental Health Insurance? For those of you who aren’t familiar, supplemental insurance companies pay cash benefits for various health maladies like diseases, injuries, or hospitalizations. Their claim to fame is that they pick up the slack on things regular health insurance doesn’t cover. Because supplemental insurance companies pay cash fairly quickly after a health problem arises, agents will try to sell the idea that Aflac takes over if you are unable to work or need time off to care for loved ones undergoing health crises. Their money pays the rent while your health insurance supposedly pays the medical bills. The amount of money paid out varies depending on the policy and what is wrong. With a ...

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Should I Consider Getting No Medical Exam Life Insurance?

This is a post from DW at No Exam Life Insurance Guide. You might also know him as My Money Design. Enjoy! I have a confession: I hate needles. I hate having my blood drawn. I don’t know what it is, but the less I have to go to the doctor, the better. So is it any wonder that I would be so apprehensive about getting “poked” for something as simple as getting life insurance? As silly as that may sound, I’m sure you could cite this as one of the main reasons why many adults do not obtain life insurance on their own. And that’s a tragedy. Life insurance inherently is supposed to help and protect us against financial disaster in case the worst happens. So how come something that is supposed to be good for us hurts so much to get? Fortunately the industry has some smart alternatives to help alleviate this fear – and it’s called a no medical exam life insurance policy. What Is No Medical Exam Life Insurance? You have probably wondered at some point if it’s possible to obtain life insurance without having to go through a medical exam. Perhaps you just need some ...

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3 Things Homeowners Should Know About Homeowners Insurance

Homeowner's premiums and coverage options

This is a post from Tali Wee at Zillow.com. Enjoy! The process of buying a home is both exciting and detailed. Buyers must present their lenders with countless documents specifying their financial standing and reliability as borrowers. In addition to producing numerous documents, buyers must acquire homeowners insurance for the remainder of entire loan terms. Here are three important aspects of homeowners insurance that buyers and owners should understand. 1. Homeowners Insurance Is Required Lenders require borrowers to obtain homeowners insurance to ensure their investments are protected in case of unpredictable damages to properties or financial burdens to borrowers. As long as homeowners carry mortgages they are required to obtain basic policies. Buyers should shop around for the best insurance rates and personalized policies that suit their specific coverage needs. Most homeowners have highly-valuable belongings worth insuring. Buyers looking for discounts should contact their auto insurance providers for bundled insurance quotes. 2. Homeowners Insurance Protects More Than the Home Not only does homeowners insurance protect investments, it covers homeowners’ personal belongings, liability and protection against theft and natural disasters. Homeowners insurance can cover jewelry, clothing, furniture, bicycles, expensive equipment and other itemized possessions. Additionally, most homeowners insurance plans cover belongings ...

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Do You Have To Take Medicaid If You Don’t Want It?

Medicaid with Obamacare

It’s been a little while since we talked about the Affordable Care Act or Obamacare. Love it or hate it, you are supposed to be signed up for some sort of health care coverage by March 31st. Many states have expanded their Medicaid programs so that a larger number of people are eligible. One big issue I have with the whole Healthcare.gov system is that you have to take Medicaid if your income falls into that bracket, even if you don’t want it.  This is a long post, but I have tons to say about this topic, so get a snack or beverage if you need to. What Is Medicaid? Medicaid is a social program for low income families and individuals who have limited income and resources. It is jointly funded by the state and federal government, but each state has to decided whether or not to participate. Every state has some sort of Medicaid program presently. Medicaid is not like Medicare, which covers senior citizens and is partially funded by your payroll deductions over the years. In the past, children and pregnant women whose income was below 133% of the poverty limit qualified for Medicaid. Also if you were ...

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