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Choosing the right insurance policy

You have probably found yourself in a situation where you have to choose a company which will provide this service. It is a normal thing because you will give your money to them in case something goes wrong with your health. Keep in mind that it is a good idea to choose the highest package or option possible because you never know what can happen to you. Illness is unpredictable, and there are things that can happen in a blink of an eye. A good insurance policy can help you with your life. If you don’t have the right policy and something needs to be operated or treated, you are in a pickle. There are things you need to understand if you want to protect yourself from situations that can happen in real life. First of all, you know that medical care won’t cover all expenses especially those that are extra expensive.

For those situations, you need to have insurance policies that will cover the cost of your treatment and operations. You need to understand that these things are serious and the only thing you need to do is to choose the best possible package and be responsible. Keep in mind that there are packages that are one time only and of course there are expensive ones that can take care numerous occasions. You need to precise everything in your contract. The contract you sign with your company is the number one source of your rights and obligations. The same thing goes for the company that provides the service. Some people think that misfortune won’t happen and they don’t even think about this social and health insurance policies. And once disaster strikes, they are in a problem.

Be responsible

responsibleIf you want to be a responsible person, you know what you need to do. There is nothing better than to feel that you family has insurance and you don’t have to worry a thing. If something happens, the medical expenses will be covered by the company. Medical insurance is probably the biggest thing when you are choosing a job or a profession. Your employer needs to offer some form of insurance for you, or at least options you can choose according to the law. So it is imperative that you know your rights and obligations.

Conclusion

Health insurance is the number one factor in your peaceful life. To have a normal life, you need to know that everything will be ok if something happens with your health or with the health of your loved ones.

Disability Insurance

Disability insurance is the only type of insurance that protects your earning potential. You have probably known a friend or relative who has suffered a major injury or illness and came close to being bankrupt as a result. Disability insurance is designed to protect you from such occurrences.

Who should purchase disability insurance?

The best candidates for disability insurance are self-employed people and people whose employers do not offer group disability plans. If you own your own business and rely on the income that you generate personally, you need disability income insurance. If you are unable to work, how will you be able to pay your mortgage or car? If your employer does not offer disability income, how will you pay your bills if you have a protracted illness?

How do you buy disability insurance?

disabilityElimination Period – The elimination period is the amount of time that must expire before a disability check is issued. The longer the period you choose, the cheaper the policy. For example, if you choose a 180-day elimination period, you must wait close to six months before you receive a check. If you don’t have six months worth of savings to pay your bills until you satisfy your elimination period, the disability insurance will be worthless to you. Therefore, you need to be realistic about how long you can last before you need the disability check. For many people, 90 days is the limit.

Benefit period – This is the length of time that you will be entitled to receive a monthly benefit. Disability insurers usually offer the following benefit periods: 2 years, five years, age 65. So when you buy disability insurance, you buy it for a period. If you buy a two-year benefit and end up being permanently disabled, you will only receive benefits for two years. Monthly Benefit – This is the monthly amount of income that you will receive from your insurer. Usually, the insurer will insure up to 66.6% of your monthly income. For example, if you earn $3000 per month, the insurer will only agree to pay you up to $1998 per month. Finally, The benefit period and amount of benefit you can purchase will be determined based on your occupation. For example, if you are a carpenter, you are more likely to be injured and disabled than if you are a software engineer. Insurers will be less likely to offer a longer benefit period if you are in an occupational class that may be prone to disability claims.

If you would like a quote for Disability Insurance, please click here to email us.

This is probably the most important insurance out there. This is the type of insurance for the worst scenario. There are situations when you can’t work, or you won’t be able to work anymore. If this situation occurs, it is a good idea to have this by your side. We don’t want it to happen, but just for your sake, it is wise to have it.

Individual Health Insurance Plans

Individual plans differ significantly from a group of one (self-employed) plans and small group plans. Individual plans are not guaranteed issue, which means you can be declined or ridered. In other words, you could apply for an insurance plan and be refused. Therefore, if you have ongoing medical conditions that require regular medications or physician consultations, an individual plan may not be available to you.

The major advantages of individual plans are that they are portable, not tied to employment, and sometimes, very affordable. Individual plans tend to be less expensive than group insurance plans and self-employed groups of one. There are several reasons why they are less expensive.

Insurers can refuse you or limit the treatment of medical conditions, thus eliminating or reducing financial risk.

Individual plans do not, as a rule, cover maternity.

riskThey usually do not cover mental health or chiropractic.

The premium rates for individual plans can fluctuate wildly from one year to the next.

You need to review policy information closely for limitations and exclusions.

Who Is A Good Candidate For An Individual Plan ?

Individual plans work well for anybody in good health who does not take a large number of prescription medications.

Who benefits from individual plans?

Young College students

People who cannot afford company plans

People who cannot afford to insure their dependents under company plans.

Healthy adults who want insurance with high deductibles and low premium rates.

If you fall into any of these categories, an individual plan may work for you.

We offer a variety of plan options. We can help you build a plan that covers your insurance needs to include:

Office visits Extensive provider networks

Addiction and Recovery benefits for Colorado Drug Rehab.

Prescription coverage Affordable premiums

Wellness benefits Variety of plan options to meet your specific insurance needs

Accident benefits Dental Hospitalization Vision benefits.

As you can see, it is very important to have a policy according to your needs. We recommend having the best possible option because your health depends on it. In this modern world of diseases, you need to watch yourself, and of course, make sure you have the best health policy out there.

Medicare Supplements

Medicare Supplements, also known as “Medi-gap” plans, are designed to help seniors & the disabled pay for medical treatment and services that are not covered by standard Medicare – the “gaps” in its coverage.

There are 10 different plans, identified by the letters A through J. Starting with Plan A, the number of services covered increases with each letter designation.

Preferred Insurance offers the complete spectrum of plans, choosing from a variety of companies. We understand how important and how serious this decision is for you, and we will work closely with you and your family to get you the best protection for your budget.

Our initial consultation will include:

We will give you an overview of the primary Medicare coverage plans, Medicare A and Medicare B.

We will review the new Medicare Advantage plans with you.

We will explain what each level of care, A through J, does and does not cover.

We will go over the benefits and costs for the new Medicare Part D.

We will give you exact quotes on each for Medi-gap, Medicare Advantage and Part D prescription plan available.

We will help you determine which level best suits your specific needs.

plan

In addition to the traditional Medicare Supplement plans A through J, we also offer the new Medicare Advantage plans that include both office visit co-payments and prescription benefits. If you would like to keep your existing Medicare Supplement plan and just add prescription coverage, we can help you select a Prescription Drug Plan (PDP) under the new Medicare Part D program on a stand-alone basis. Please remember that you only have until May 15, 2006, to select a Medicare Part D prescription benefit. If you are currently covered by Medicare, and you do not elect a Part D benefit by May 15, 2006, you may have to pay a higher monthly premium as a result of being a late enrollee.

If you want to use supplements, the best option is to consult with our experts. Using these things can lead to some problems if they are being used in a wrong way. So it is a must to check with our experts before using anything. Your health is important to you and us, so it is vital to use these supplements with caution.