30. November 2018 09:54
by Nicki
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What you need to look for in a maternity insurance plan

30. November 2018 09:54 by Nicki | 0 Comments

A young couple thinking of starting a family needs to take several factors into account before taking the plunge. Having a child is expensive, to put it bluntly. There are so many costs involved. And they start right from the time when you get pregnant. The visits to the gynecologist, the tests, the extra nutrition, the purchases you need to make – it all adds up to a hefty amount. And then there are the costs you will face if you are forced to leave your job when you are nearing the end of your pregnancy. That will entail foregoing the medical insurance and maternity benefits assured by your employer. Considering all the possibilities, it is best to take maternity insurance well in time.

Okay, so now you know you need maternity insurance. But do you know what to look for in a maternity insurance plan? Since it is a matter of vital importance, you have to think hard and research thoroughly before buying maternity cover. Here is a list of five things you need to keep in mind when buying maternity insurance.

1. Does your existing plan has a maternity insurance cover?

The first thing you need to understand is that maternity coverage is not available as a separate insurance policy; it is usually added on to your group or individual health insurance plan. It is quite possible that health insurance provided by your workplace includes maternity coverage as well. However, it is always better to check with your company, just to be sure. But if you are relying mostly on individual or family health insurance policies, there are chances that maternity coverage is not offered. Do talk to your insurance company about this, and if it does not offer maternity cover, shift to another policy that comes with such coverage.

2. Which condition does your maternity insurance cover?

Maternity costs are pretty high, and they start right from the initial stages of pregnancy. Consider the endless visits to the gynecologist, medical examinations, medicines and other pregnancy-associated purchases. It will come to quite a lot, especially given the soaring medical costs. You need to look out for what all your maternity insurance covers. Some plans cover hospital stays and associated procedures, but not the costs of medicines and miscellaneous items. Make sure you pick the right plan so that expenses that you require to pay from your pocket are minimal.

3. What are the maternity coverage sub-limits?

Most health insurance policies that provide maternity coverage usually limit their maternity payout.your maternity payout from that coverage will be considerably less. For normal deliveries, sub-limits are generally between $ 150 and $ 250, and for caesarean deliveries, between Rs 25,000 and Rs 50,000. You need to keep your eyes open for the sub-limits when incorporating maternity insurance in your overall health plan.

4. What is the waiting period of your maternity insurance?

Maternity insurance comes with a waiting period. In most cases, the waiting period is anywhere between two and four years before you can make any maternity-related claim. Some policies extend this up to six years. So, it is essential to buy maternity cover as early as possible, long before you have the baby. Remember, if you are already pregnant, you might be denied maternity insurance as your pregnancy will be treated as a pre-existing condition. Look out for these clauses and choose carefully.

5. What is the premium you are being charged?

A major issue with maternity insurance is that the plan always comes with high premium rates. With most other conditions, there is a probability that you may not need the insurance; this enables insurance companies to make profits from your premium. But maternity insurance covers an almost certain condition. Insurance providers know that they will end up paying out a hefty amount if they incorporate this condition in their regular health policies. But even so, all insurance companies do not charge a very high premium. Scout around properly, spend some time researching and comparing policies, seek the help of friends and relatives who might already have taken maternity insurance and then zero in on the best plan that suits you.

In the end, do remember that maternity insurance forms a reliable safeguard against steep medical bills that you will run up during your pregnancy. No matter how high the premium, it is always worth it to take maternity insurance.

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23. November 2018 11:52
by Jamie
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Introduction to Dental Insurance

23. November 2018 11:52 by Jamie | 0 Comments



Aside from protecting that beautiful smile of yours, dental care ensures good oral and overall health – hence the obvious importance of having dental insurance.

Several studies suggest that oral diseases, such as periodontitis (gum disease), can affect other areas of your body—including your heart. I had to learn this the hard way in my early teens. My gums would literally bleed whenever I went to get my teeth cleaned. I though the hygienist was crazy when she suggested that my gum disease could lead to heart problems later in life. But, it’s true. Study after study has suggested that the health of your mouth plays a key role when it comes to the health of the rest of the body.

Understanding your options when it comes to dental coverage will help protect you and your family from the high cost of dental disease and surgery (should things ever get to that point).

What is Dental Insurance

Dental coverage is very similar to traditional medical insurance and is one of the voluntary benefit options commonly offered through employers. When buying an individual health insurance plan, dental insurance can be obtained in 2 ways:

  1. By buying a health insurance plan from the Marketplace that comes bundled with dental coverage.
  2. By buying a stand-alone dental plan separate from your health insurance plan (yes, in this case you’ll end up paying 2 premiums instead of just 1).

Just like health insurance, you pay a premium and then your insurance will cover part or all of the cost for many dental services. Also similar to health insurance, dental coverage is offered in several types of plans:

  • Dental Health Maintenance Organization (DHMO): Coverage is only provided when you visit dentists who are in- network with the insurance plan.
  • Dental Preferred Provider Organization (DPPO): Coverage is provided with in- or out-of-network dental care providers, but you will typically pay less with an in- network dentist.
  • Dental Indemnity Plan: Coverage is provided for any dentist you choose, with no difference in cost.
  • Discount dental plan: This type of plan is a common option for reducing dental costs without regular insurance coverage; with this plan, you pay for all your dental care at an agreed-upon discounted rate.

Why Should I Have Dental Insurance

There’s a pretty obvious answer to this question. Professional dental care can diagnose or help prevent common dental problems including toothache, inflamed gums, tooth decay, bad breath and dry mouth. If conditions like these remain untreated, they can worsen into painful and expensive problems such as gum disease or even tooth loss. According to the American Dental Association, more than 16 million children in the United States suffer from untreated tooth decay, which is the most common chronic childhood disease.

Regular dental exams can not only treat dental problems but can also identify other serious health concerns, including some types of cancer.

Dental coverage will allow you to inexpensively receive preventive and diagnostic care from your dentist.

How the Affordable Care Act Changed Dental Insurance

Under the Affordable Care Act (ACA), dental services are an essential health benefit for children under the age of 18. That means that dental coverage must be available for your child either as part of a health plan or as a stand-alone plan. While dental coverage must be available to your children, you don’t have to buy it.

Unfortunately, the essential health benefit status for dental coverage does not apply to adults. In addition, unlike medical insurance, you do not have to obtain dental coverage to avoid penalties from Uncle Sam come tax time.

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19. October 2018 10:02
by Jamie
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Term Life Vs. Whole Life: Which Insurance Is Right For You?

19. October 2018 10:02 by Jamie | 0 Comments


Build your life with love. Protect it with life insurance.

We work hard for the good things. The security. The comfort. The joy. The premium channels and the soft toilet paper. We work to buy houses, and we work to make sure they feel like homes for the people we love. We work to help things grow…our knowledge, our careers, our experiences, and our families.

From the Ground Up

The bigger and better things get, the more important it becomes to protect them. It’s easy to convince yourself, in the warm glow of a good life, that love is all you need. Love is a perfect foundation (and if you’ve ever bought a house, you know how important the foundation is), but without the walls you build upward and the roof above it all, it doesn’t offer much protection.

Every good decision you make contributes to the strength of those walls. The degree you earned. The career you’ve built. The money you invest. The relationships you’ve established. The tough questions you’ve asked, and the tough answers you’ve gritted your teeth and accepted.

These reinforcements are ultimately what hold things together when they might otherwise come crashing down, and insurance is your roof, extending to every edge to make sure you’re covered.

Life insurance means that nothing, not even the very worst thing, can blow that roof completely off. It means that your love, bolstered by careful planning, will always provide shelter, even after you’re gone.

Choosing a Blueprint

There are a lot of options to consider when you’re looking for the right insurance policy, and that’s why we’re here to help guide you. There are two main types of life insurance to consider, and that’s a good place to get started.

TERM LIFE INSURANCE

Term life policies might be the way to go if…

  • You’re looking for the most affordable life insurance rates
  • You’re not ready to commit to a lifetime policy
  • You want the simplest, most straightforward option
  • You’re in good health right now and have a relatively clear family medical history

This type of policy covers you for a finite period of time (usually 10, 20, or 30 years). Because of its temporary nature (and therefore the decreased likelihood that a payout will take place), premiums are generally much lower, especially if you’re young. Once the policy term is over, it’s over…just like car insurance, no matter how long you’ve been insured in the past, if you’re not insured at the time of an incident, it won’t help. So with term life, you’ll need to renew (usually at an increased rate as you grow older) or convert to a whole life plan at some point for continued coverage.

WHOLE LIFE INSURANCE

whole life policy may be the best route if…

  • You can afford a higher premium in your monthly budget
  • You like the idea of paying for coverage that you know will help your loved ones in the future
  • You love the idea of only having to shop for life insurance once
  • You’re in good health now, but may be at higher-than-average risk for future health concerns based on family medical history

These policies typically cost more up front, but the upside is that they provide lifetime coverage (so you don’t have to worry about shopping again) and typically offer level premiums, which can help you keep your monthly budget on track, especially when the kids start begging for the latest gaming system. Whole life insurance typically combines death benefits with cash value. In some cases, the policy owner can access this cash sum to use if they should need it…so while peace of mind and security for your family are still the primary motivation, you know that it doesn’t have to cost a fortune to get it.

Savvy Shopping

As you decide which option is right for you and your family, here are a few tips to help you keep costs as low as possible while still getting what you need:

  • Get multiple quotes from different providers to find the most competitive pricing. Whether you’re looking for the best term life insurance policy or you’re more interested in whole life insurance quotes.
  • Watch out for unnecessary riders. Riders are add-on provisions to the basic policy. Sometimes they’re things you might actually need, but sometimes they’re just things that sound good. 
  • Identify your specific needs and priorities. Life insurance, unlike your buttery soft leggings, isn’t one size fits all. If you’re on a tight budget, maybe you just need basic life insurance that will help to get your family through if you pass away sooner than you would hope. 

No Time Like RIGHT NOW

Here’s the best advice we can give: DON’T WAIT.

The younger you are, and healthier you are, the less your insurance will typically cost. And the sooner you work it into your budget, the more it will start to blend in with all your other important expenses, like electricity and lattes.

The real reason not to wait, though, might be sitting right next to you on the couch while you read this. Or sleeping upstairs on the top bunk. Or the bottom bunk. Life insurance gives you a chance to take care of the people you love for longer, and that’s worth an awful lot more than your monthly premium will be.

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25. September 2018 10:46
by Nicki
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Latest Benefits & Features to Look Forward to in Life Insurance

25. September 2018 10:46 by Nicki | 0 Comments




Traditionally, we have always associated life insurance covers with security against unforeseen circumstances. They are widely considered to be a part of one’s portfolio for emergency situations, providing a Lump sum Payout to the nominee in the instance of the Life Assured’s death.

However, more often than not, these covers cater to the needs of the family post the death of the breadwinner. What happens to the insurance cover if the breadwinner was involved in an accident and becomes permanently disabled? He survives the accident but now is unable to pay the premiums associated with the term plan, or if he/she is critically ill and can’t continue to pay premiums? Or if he is diagnosed with a terminal illness and his death is certain anyway?

In such instances the cover might lapse and with that the protection umbrella which the breadwinner had planned for his family in his absence, fades away.

What if we could have a provision for those cases where the life assured doesn’t have to pay any further premiums if he is involved in an accident and becomes permanently disabled? This way at least the protection umbrella that he had made for his family, remains intact.

Similarly, with increasing risks to health due to lifestyle changes, there is a need to look at critical and terminal illnesses very seriously. A critical illness might force the breadwinner to retire from his job for a few years coupled with additional financial outflow during the treatment and recovery phase. This would again make it challenging for the Life Assured to pay his premiums towards the Life Insurance cover. On the other hand a terminal illness cannot be cured and results in the death of the patient within a short span of time. In such a situation, it would really help if the lump sum payout is given at this stage itself.

In view of the above, life insurance companies have started launching covers that come with differential plan options to cater to the diverse needs of the people. Some of the areas that the new plans have started addressing are:

Waiving your premiums & accelerated benefits

Some life covers waive future premiums in case of permanent disability caused by an accident and also on diagnosis of certain critical diseases. This is relieving of a major financial burden, while retaining the protection it offers, is one such highlight that will allows the family of the policyholder to be financially secure in such an unexpected situation.

Moreover, it accelerates the payout of death benefit to the family if life assured is diagnosed with any terminal illness. This helps the family to deal with the financial stress by helping them pay medical costs associated with the terminal illness and also ensures that in the long run the family does not have to compromise upon the dreams that the breadwinner had planned for them due to financial restraints.

Replacing your income

Think of a typical salaried person’s life in our country. He is the bread winner for the family. The household’s expenses, his children’s education expenses are all provided for by his monthly salary.

But what if fate has some other plans and an untoward incident befalls the family. Apart from the policyholder’s lifetime savings in some FDs and other instruments, there is no substitute for his monthly income. Especially if the person is a private sector employee, the family will have to face a lot of difficulties in terms of managing the day-to-day expenses.

This is where a life cover comes in handy. Some term covers are now providing an option that allows the family to receive a monthly income even in the absence of the policyholder. Not only is this income provided till the end of the policy term or 4 years whichever is higher, but it may also increase every year, based on the income projection provided by the policyholder and the plan type chosen by him. And along with this, the family also receives a lump sum amount at the time of death of the policyholder.

Such a tailor made solution ensures that the family’s lifestyle and dreams are not compromised upon and the household will still run smoothly

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5. September 2018 11:28
by Nicki
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Health Care Decoded

5. September 2018 11:28 by Nicki | 0 Comments


If you find the world of health insurance to be confusing, you’re not alone. Many people have a difficult time sorting through the buzzwords and terminology to figure out exactly what they need to know about their health insurance coverage. We’ve rounded up some of the top health insurance terms you’re likely to hear. And we’ve broken them down to explain what they really mean. It’s health care – decoded.

 

Click any of the terms below to jump right to the information you need:

Deductible

Many health insurance plans today have something called a deductible, which is the amount you must pay for covered health care services before your health insurance company begins to pick up the tab. If your cost exceeds that amount, your plan will cover the remainder, or a percentage of the remainder. (If you’re in the process of choosing a health insurance plan, it is useful to know that plans with higher deductibles tend to have lower premiums.

 

Copay

 

Your copay is the set amount that you pay for a health care service, like a doctor visit, or a trip to urgent care. The amount depends on your plan and the type of service you receive.


Keep in mind that if your plan has a deductible, you may be responsible for meeting your deductible first. Then, your copay will take effect. In addition, prescription medications also require copays, and they will vary depending on the medication 

Coinsurance

Coinsurance is the percentage of the bill you pay for a covered product or service. Unlike a copay, which is a flat amount, coinsurance is based on the cost of the service.

If your health plan has a deductible, the coinsurance is the amount you’re responsible for after your deductible is met. If you receive services from an out-of-network doctor, you may be responsible for additional charges above the coinsurance.

 

The bottom line: deductibles, copays, and coinsurance are all terms that add up to how much you owe. Get details on how much health insurance costs you. 

Out-of-Pocket Max

 

Many people don’t realize that every health insurance plan sets a maximum for the amount you will have to pay, referred to as the out-of-pocket maximum (OOP max). Once you have reached your OOP max, your health insurance company will begin to pay 100% of your costs for covered care. Different plans have different OOP maximums.

Formulary

 

A drug formulary is a list of prescription drugs your insurance company will pay for, based on the efficacy, safety, cost-effectiveness, and overall value of the drug. A formulary is typically divided into three tiers, with varying copay amounts (Tier 1 with the lowest and Tier 3 with the highest).

Knowing and understanding your formulary is important for several reasons. First of all, it’s important to establish whether the drug being prescribed is covered. Once you have determined a drug is covered, understanding your formulary will allow you to ask your doctor the questions to get the most effective medication possible – for your health and your wallet. 

 

Explanation of Benefits (EOB)

 

At first glance, it may appear to look like a bill – it’s not. An EOB is a statement from your health insurance company after you receive a health treatment or service. It tells you how much the doctor charged, how much your insurance allowed, how much your insurance paid, and the amount you may owe. 

Prior Authorization

 

Sometimes your health insurance plan requires that certain medical services are approved prior to your receiving them. This is called pre- or prior authorization, prior approval, or precertification. It allows your health insurance company to ensure that the care you are receiving is medically appropriate and delivered at the appropriate location. 

While you may be familiar with the terms emergency room (ER), urgent care, and primary care physician (PCP), do you know which to visit for a health issue – and when? Deciding the best course of action can be critical in getting you the most effective care for your medical needs. A PCP knows your medical history and can treat you with your unique health needs in mind, while an urgent care can be very convenient when your doctor’s office is closed. Of course, the ER is the best option when immediate care is needed.

 

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24. July 2018 05:25
by Jamie
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Car Insurance For Teenagers

24. July 2018 05:25 by Jamie | 0 Comments

When Is The Right Time To Get Car Insurance For A Teenager?

Driving for the first time is scary and exciting for both teenagers and parents. But the question of when to get auto insurance for your new teen driver is an important one, that we all must ask ourselves when the time comes. For too many people put off getting insurance for their teenager. New drivers are highly prone to get in a car accident within their first couple years of driving for obvious reasons. This is why it is so important for a new teenage driver to be insured.

When should you add your teen to your car insurance?

Unfortunately, this high tendency of getting into car accidents, whether fender bender or full blown accident, has led to a steep incline in auto insurance rates for this age group. This generally leads to procrastination. The fact is, as an inexperienced driver, it is essential that your teen be insured from the day they get their license.

Insurance Types For Teens

Let’s take a look at the types of insurance available for teenagers. An insurance policy might include one or more of the following types of coverage:

  • Liability Coverage – Liability coverage covers the expenses resulting from damages you are responsible for. This includes property damage and personal injury to others. In these days of multi-million dollar insurance settlements, not having liability coverage can easily ruin a family’s life.
  • Collision Coverage – Collision coverage covers the cost of repairing damages to your own vehicle. This is the most common type of auto insurance coverage and is required by law in most states. Tip – Choosing a large deductible will lower your collision coverage rates.
  • Comprehensive Coverage – Comprehensive coverage covers the expenses resulting from things other than collisions. Common examples of things covered by comprehensive coverage include theft, fire damage, water damage, damage from animals, and natural disasters.
  • Medical Coverage – Medical coverage pays the medical costs to you or other parties for accidental injuries resulting from damages done by your automobile.
  • Uninsured Motorist Coverage – Having uninsured motorist coverage will protect you in case you are involved in an accident with a driver who has insufficient insurance coverage and is unable to pay for the damage to your vehicle.

Now that you are educated in the basic insurance coverage types for teens, you are probably asking yourself – how much does auto insurance cost for a teenager? Well, unfortunately there is no simple answer to that question. Insurance premiums depend on many things including: the type of car, how often your teen will drive, for what use he/she will drive (why, where to, etc.), and what discounts apply. Often times, teenagers can pay as little as $400 a year for insurance and other times, they can pay over $4000 a year for insurance. It truly all depends. Fortunately, there are a bunch of things you can do to help your teen find the best possible auto insurance rate.

Getting Discounts On Teenage Driver Insurance

Auto insurance rates are based on the amount of risk a company has to take on my insuring the car and its driver in question. Most insurance companies will be pretty uneasy about offering discounts to fresh teen drivers, but as always, shopping around will typically provide you with some satisfying results.

If you read our article about auto insurance discounts, you will see many similarities with the tips below. A majority of the discounts available to adults are also available to teens in one way or another. They are simple ways to reduce risk and build trust with your insurance company, in turn, reducing your premiums.

When it comes to teen drivers, there are seven things that teenagers and parents can do to save money on insurance rates:

  1. Get under your parents policy – More often than not, it is cheaper to put a teen on their family’s policy than it is to insure them separately. This is an easy and cost effective way to get the large amounts of coverage you may believe your teen needs. Not only will adding them to your current policy reduce paper work and time, but will also allow them to get a much higher level of coverage than they would be able to get with a policy of their own.
  2. Get good grades – Most insurance companies offer “good student discounts.” All you have to do is maintain a B average and you can get rate deductions up to 25%. This may be more difficult for some, but getting a solid GPA of 3.0 or more can earn you some great discounts. Talk to your teen about this, it may encourage them to improve their grades, especially if they are paying for a portion of their coverage. This is assuming your teen is a full time student.  Read more about insurance for college students here and insurance for international students here.
  3. Get experienced – If teenagers take a driving course, they are eligible for a 10% discount. Call your insurance company to ask for more details. Many states and counties require driver improvement classes to begin with. But if you can get them enrolled in a driver improvement class, you can take a lot of stress off the insurance company, resulting in lower rates; not to mention the stress it will lift off your shoulders.
  4. Don’t get tickets! – Every ticket and traffic citation teenagers receive will have huge effects on their insurance premiums. After a certain number of citations, some insurance companies can decide to cancel your policy.
  5. Drive a vehicle that is cheap to insure – Most teens would prefer to drive a flashy sports car, but the fact is, the boring, safer cars are the cheapest to insure. Grandma’s old station wagon might not be such a bad option if you are looking for cheap insurance.
  6. Make sure you have safety features – Discounts may be available for cars that have automatic seat belts, airbags, anti lock brakes, etc.
  7. Shop around – Teenage insurance rates can vary by hundreds of dollars. Make sure you shop around to find the best rates possible!

 

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