42. Disability Insurance: Why It’s Necessary

It may be difficult to picture yourself as disabled to the extent that you are unable to work, earn an income or do much of anything. We often believe that life will go on just as it is without any changes, unfortunately there are many situations where an illness or an injury comes from nowhere and people are unprepared.

Most people won’t recognize the possibility of this happening. They will in fact, think that they are somehow invincible. The truth is, the chances of having a disability are five times greater than someone having a house fire. Perhaps it’s our ability to focus only on the good in life. Perhaps we don’t realize the neighbor that we chat with at the mailbox is actually disabled.  There are many invisible disabilities that often go overlooked by others.

When considering disability insurance, what we really need is to protect the stream of income that we use to pay our bills and live off of the insurance payments.  This especially important for high income earners who are used to a nicer lifestyle than someone working in a factory.  They make disability insurance for doctors and other high income earners who need to protect that high revenue stream.

This is why you need disability insurance. You never know what life may throw at you. Many of us have health insurance but we don’t review the disability portion of said insurance. With Obamacare there are many employers beginning to remove coverages and push employees to search out their own coverage Will you survive? How will you bridge this gap? Purchase disability insurance directly from an insurance brokerage or company in order to secure disability insurance today.

43. The Basics Of Medicare Supplemental Insurance

It is highly recommended that all individuals over the age of 65 years consider investing in Medicare supplemental insurance policies.  By investing in these policies certain health costs will be covered, however there are also those that are not covered and it is important you are aware of this.  This is important to know because you will be required to pay for uncovered health factors by yourself.

If an individual arrives at the point where they rely on a fixed income from Medicare, he/she is less likely to have extra cash to cover any unseen medical expenses.  Due to this potential situation, it may be a good idea to invest in some supplement insurance coverage.  This coverage can be provided for a nominal fee.

The supplemental insurance plans available to individuals are known as Medigap policies and can be obtained for, as is mentioned, nominal charges.  There are various types of policies available from different private insurance companies and they are all labeled with a letter from Medigap plan A to plan N.  It is imperative that you conduct background research into both the company and the Medigap plan to ensure you are obtaining the best option for your requirements.

Certain Medigap policies will charge deductibles and this must be noted.  It may be difficult to determine what these deductibles will be when developing a plan, and this leads to an uncertainty of whether or not one can cover the deductable.  Always discuss this issue with an insurance professional in order to find the best supplemental coverage for you.

Further considerations that should be made will include dental and vision factors.  Some supplemental insurance policies will offer coverage of this sort, but the majority do not.  Many spouses will purchase individual coverage, but you should discuss with a professional as to whether couple policies would be the better option.  Supplemental coverage must be purchased to save money and therefore you must find the correct plan to cover all you need.

44. Your Weight Can Save You Money

Your weight can have a noticeable impact on the premium you pay for a term life insurance policy. This is because weight is a contributing risk factor that can be connected to several other health related problems. Being overweight puts one at greater risk for diabetes, the chance of a heart attack, and stroke. If you lose weight before applying for life insurance, it will lower the cost. Women can also seek out companies that use unisex weight measurements. Credit: Termlife360.com

45. Final Expense Insurance

Also known as burial or funeral insurance, final expense insurance can be a great option for someone who is leaving behind a very small or almost nonexistent estate. It is simply a life insurance policy, but is designed to pay for one’s final expenses; cremation, burial, funeral service, flowers, gravestone, etc. The advantage of this type of insurance policy is that it is very affordable for just about anyone, and is a great option for someone who cannot afford a traditional life insurance policy. Funeral expenses alone can be over $8,000. Most people do not want to pass on this kind of burden to their loved ones, and for them final expense insurance is a viable option. Credit: BurialInsuranceQuotes.org

46. Medicare Supplemental Insurance Plans Are Identical From State to State

Currently 47 of the 50 states have agreed to utilize the same standardized Medicare supplement plans. Massachusetts, Wisconsin, and Minnesota are the lone exceptions that have mde the decision to adopt their own individual plans. That means that if you purchase a Medicare supplement in California, you are going to receive the identical health coverage as a consumer who purchased the same Medicare supplement in Florida.

This standardization of Medicare supplement plans allows consumers to truly compare apples to apples when shopping for a suitable plan, unlike so many other insurance plans where it is nearly impossible to really evaluate one plan versus another.

47. Medigap Plans Are Identical From Insurer to Insurer

Medicare supplemental insurance plans offers 10 plans to choose from. The coverage offered is identical from insurance carrier to insurance carrier. If you purchase Medicare supplement plan F from Mutual of Omaha, you are going to have the exact same coverage as if you purchased from Aetna.

The only thing that is going to vary between insurance providers is their level of service and the cost of their premiums.

48. The Safe Car Discount

Your car might be able to secure you an additional discount on your insurance policy. Automobiles which are deemed safer and/or less likely to be stolen may qualify for a discount with your insurance provider. Cars that provide safety features for their passengers are less risky to insure. Simple things like air bags, motorized seat belts, anti-lock brakes, and an anti-theft device may qualify you for this discount.

49. The Multiple Policy Discount

If you use the same carrier to insure your car, boat, home, and/or whatever other possessions you want to insure, most carriers will offer a fairly significant discount. Keep this in mind when shopping around for a new insurance policy. Your current provider might initially appear more expensive, but when the multiple policy discount is applied, they may become the most affordable selection.

50. The Good Student Discount

Many auto insurance carriers offer a discount on premiums for good students. They believe that students performing well in school are safer drivers than their C-average peers. Companies that offer such a discount may differ in their qualifications. Some require a 3.0 GPA. Others want to see the student on honor roll. Still others require that the student be in the top 20% of their class to qualify. If there is a student driver in your home, there is a little extra incentive for them to study hard.