The ultimate purpose of health insurance is to offset potentially high medical expenses. Most people get health insurance through their employer, but if you don’t, your independent insurance agent can help you. Before we delve deeper into the details of what to look for when choosing a health insurance plan, here are some important terms...
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Buying the Right Individual Life Insurance
Understanding what to look for when buying life insurance can make the buying process easier, and maybe save you money. The death of a loved one can cause surviving family members or dependents financial loss and hardship. Life insurance can cut or even eliminate such difficulties. It is a legal agreement between the insured individual...
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Obesity and Life Insurance: Extra Pounds May Cost You More
Almost a third of Americans are obese, according to the Centers for Disease Control and Prevention. Obesity not only affects quality of life, but it also increases your risk of experiencing heart disease and diabetes, along with some types of cancers, and ultimately, early death. Besides these things, obesity also costs you more. All the...
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7.5 Million Americans Paid Penalty for Lacking Health Coverage
According to the Internal Revenue Service, almost 7.5 million Americans have had to pay a penalty for lacking health insurance in 2014 – and the tax season isn’t over. As of mid-July, the IRS had processed approximately 135 million of the approximately 150 million individual tax returns it expects for tax year 2014. In 2014,...
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Not Your Granddad’s Life Insurance Policy
With variable life insurance, the cash value portion of your policy is invested directly in securities in the insurer’s portfolio.[/caption]Traditional permanent life insurance policies provide death benefits and a savings feature. Other types of life insurance also do that, and more. When you buy permanent life, you are buying two types of financial protection. The...
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Handling a Claim Denial
Just because an insurer denies your claim initially doesn’t mean it won’t pay. Here’s how to proceed if your insurer denies a claim. If you’re facing a health problem, the last thing you want to do is deal with a claims denial. Taking these steps will help smooth the process: Check the reason for denial....
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Supreme Court Okays Health Insurance Subsidies
In late June, the Supreme Court issued its decision in King v. Burwell. The case challenged the legality of subsidies in federally run or federally facilitated health insurance exchanges. The Court ruled the subsidies could stand, a decision that probably saved the exchanges in 34 states from a “death spiral.” The Court Case The plaintiffs...
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Life Insurance 101: What Happens When a Policy Matures?
When you’re playing Monopoly and you pull a card saying your life insurance policy has matured, you collect $100. In real life, if your policy matures, you’ll probably get a lot more. A permanent life insurance policy will remain in force for the insured’s whole life or until the policy’s maturity date, as long as...
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How to Locate a Missing Life Insurance Policy
Maybe you’ve been named executor of the estate of your very wealthy but very disorganized uncle. Or maybe your relative’s valuable papers have been destroyed or lost in a fire, flood or move. In either case, you know a life insurance policy exists somewhere but you can’t find it. What can you do? Life insurers...
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Obamacare Subsidies on Trial
The Supreme Court recently released its opinion in King v. Burwell. The decision went in favor of the Obama administration, upholding the legality of the subsidies created by the Affordable Care Act. The Court Case Proponents of the Affordable Care Act’s health insurance exchanges—and a majority of the people who buy coverage on them—can breathe...
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