More Than A Number

Caring for people with chronic illnesses and disabilities can take its toll, both personally and financially. Beyond medical and nursing care, services such as assisted living services can be costly. Some health plans and Medicare do not cover long-term care expenses. That’s why there are long-term care policies.

What does long-term care insurance typically cover? Depending on the policy, it may cover in-home assistance with activities such as bathing, dressing, and eating; adult day care; assisted living services outside of the home; visiting nurses; and nursing home care.

But be prepared for high premiums. Long-term care insurance quotes will show you just how much you can expect to pay for these types of services. If you’re in good health and the cost of the insurance will lower your current standard of living—or if the premiums will become unaffordable if your current income declines—then it may not be a good idea. However, if you’re at risk for certain diseases and want to minimize your financial dependence on family members, then you might want to consider it seriously.

When you are trying to find the best insurance quote, take into account such factors as the waiting period (how long you must wait to begin receiving benefits), the benefit period (how long benefits will be available), whether the policy offers a daily or monthly benefit, and where coverage is provided (nursing home only, home only, or a mixture). It’s easy to receive a free insurance quote online; just remember to do your research to determine which level of coverage is right for you.

The idea of life settlements became popular in the 1980s during the beginning of the general awareness of AIDS in the United States. During the early years of the epidemic, AIDS patients had a much shorter life expectancy than they do today; thus, many were left with unwanted life insurance policies. To accommodate this circumstance, viatical settlements were created. Viatical settlements provided the opportunity for a terminally or chronically ill individual to sell his or her life insurance policy to a third party for a lump sum. Through a viatical settlement, the third party becomes the new owner of the life insurance plan and must pay the monthly premium until the original owner dies. Shortly after, the senior life settlements industry was born. In order to qualify for a life settlement, a policy owner must be at least 65 and not terminally or chronically ill.  According to Advanced Settlements, policy owners should be over 70, with a life expectancy of less than 12 years, and must have owned a life insurance policy with a face value of $250,000 or more for not less than two years. When a policy owner decides to choose a life settlement, the amount that the individual receives is typically more than the cash value offered by the life insurance company because it is bid upon by various financial institutions.

When shopping for auto insurance quotes, everyone’s looking for a good deal. However, before opting for the cheapest insurance quote, be sure to take into consideration the minimum requirements for auto insurance. They vary by state, but most states require the following:

• Liability coverage. This coverage is designed for accidents where you are at fault. This coverage is quoted in three numbers: bodily injury coverage for one person, bodily injury coverage for all people injured in an accident, and property damage for one accident. So if liability coverage is listed as 15/30/5, it will provide $15,000 for one person injured in an accident, $30,000 for all people injured in an accident, and $5,000 for property damage. 

• Uninsured/underinsured motorist coverage. This coverage provides for all damage done to you, your car, and any passengers by an uninsured or underinsured driver, as well as hit-and-run drivers.

• Personal injury protection. This coverage pays for your medical expenses (even if the accident occurs in someone else’s car), lost wages, and other expenses that arise as the result of an accident. Personal injury protection generally covers about 80% of your losses and may also include a death benefit.

• Comprehensive and collision insurance. If your car is leased, you may be required to purchase these two types of coverage as well. The former protects your car from almost everything except the latter.

For many drivers, the minimum requirements are not sufficient for their needs. Still, it’s good to know the requirements so that you can effectively sort through your options when applying for free insurance quotes.

Your general health is directly linked to your oral health. If you don’t take care of your teeth, gums, and your bite, the consequences can greatly affect your well-being. Many Americans fail to visit the dentist on time, or at all, simply because they want to avoid out-of-pocket expenses. However, a personal dental insurance plan can offer reduced fees and get you back on track with your health.

The link between diseases and oral hygiene is being studied and documented by the medical and dental communities. According to the Consumer Guide to Dentistry, “many diseases appear first in the mouth and are thus found while patients are in the dental chair.” This includes certain autoimmune conditions, such as Pemphigus and lichen planus, as well as other medical conditions, such as diabetes, heart disease, and stroke. Individual dental plans encourage routine check-ups which provide the opportunity for dentists to detect the oral manifestation of these diseases and recommend further treatment by another doctor. In the case of people with diabetes, for example, a dentist will recognize the extra bone loss of the jaw or surrounding bone structure.

In addition to the early detection of serious medical conditions, professional hygienists and dentists can perform other essential treatments to avoid serious dental problems. While brushing and flossing are important elements of your daily care, professional treatments include tooth cleaning, scraping hardened plaque, removing calculus deposits, taking x-rays, examining changes in the bite, and examining your teeth, mouth and gums for tooth decay or gum disease. That is why a quality family dental insurance plan will help to maintain proper dental hygiene, resulting in better health for the entire body.

The Washington Post reports that the Senate Special Committee on Aging is holding a hearing to analyze the life settlements industry, which has fared well despite the recession. Increasingly, people are turning their attention—and funds—away from the stock market and instead pursuing life settlements investment opportunities. Yet according to the Post, “regulators have accused members of the industry of engaging in a variety of harmful practices, such as scheming to depress the prices paid to policyholders and charging exorbitant commissions.”

But the Life Settlement Institute (LSI), one of the industry’s leading organizations representing secondary market providers for life insurance, isn’t fazed by the Senate’s recent interest in life settlements. In a press release, the LSI defended the integrity of the industry, saying that it “endorses the Committee’s interest in protecting seniors from secondary market participants and others who may not have seniors’ best interests in mind or engage in abusive, dishonest or fraudulent activities.” LSI President Brian Smith added, “We are encouraged that the Senate’s Special Committee on Aging has decided to review the life settlement industry. By looking into the secondary life insurance market, the Committee and Chairman Kohl are showing their concern for the protection of consumers from bad actors in the sector who undermine the benefits that life settlements provide to America’s seniors.”

The LSI also maintained that “in an increasingly diversified market, life settlements can be a sound financial option for many Americans who find themselves with unwanted or unneeded life insurance policies.”

For people 65 or older, the federal Medicare program is available to cover many healthcare services and supplies. It is also available for people under 65 with specific disabilities, and for anyone with permanent kidney failure. However, due to the fact that Medicare does not cover all healthcare costs, a wide range of Medicare supplement insurance plans have been created to fill in the gaps. Medicare supplements offer numerous benefits to individuals, including the opportunity to choose a plan that meets your specific needs. The following are just a few of the benefits that come with Medicare supplemental insurance:

• Plans allow you to select your own doctor, specialist, and hospital.
• Plans help limit out-of-pocket expenses year-round.
• You receive coverage no matter where you travel in the U.S.
• If you are 65 years or older and are enrolled in Medicare Part B, by law you can’t be turned down for coverage.
• Many companies offer the same plans; therefore, plans are competitively priced. The best way to choose the right plan is to gather Medicare supplement insurance quotes from a wide range of insurance companies. MWG InsuranceMall.com, for example, has made it easy to do just that online.

When preparing to go abroad, whether for a trip or a long-term work assignment, travelers are inundated with a barrage of details, decisions, and questions, making it easy for provisions such as international health insurance to be overlooked. As you’re caught up in a flurry of plans that concern more immediate details such as flights, packing, money, etc., worrying about travel health insurance may not seem worthy of your time and attention, but it’s a mistake to forget about it. You never know when you will be exposed to health risks in foreign countries. The local cuisine, unfamiliar customs, and terrain can all pose a threat to your health and safety. Without the proper health insurance, any one of these can quickly turn a pleasant trip sour. The saying “expect the unexpected” is never more appropriate than when it’s applied to international travel. Be sure to prepare yourself for the unexpected and purchase health insurance before you start your next journey.

What’s the difference between these two plans? Coverage length and price, namely. Term life insurance, like the name suggests, is good for only a limited period of time—the relevant term. It does not accrue cash value. Whole life insurance, on the other hand, can provide lifetime protection but requires ongoing premiums. Generally, people prefer cheap term life insurance because the premiums are lower and allow policy “riders” such as spouses and children. If you are between the ages of 20 and 50 and/or have a large number of dependents, this might be a good option. However, low cost term life insurance does have its limitations. It does not provide the kind of life-long security that comes with whole life insurance. Regardless of how long you live, whole life insurance policies remain in effect. They also build up cash value, which can come in handy if you later decide you don’t need the policy. Most allow “riders,” too, but the tradeoff with whole life policies is higher premiums. To find affordable term and whole life policies, request a free quote from TermAssistant.com.