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Health Insurance 101: Types of plans


Choosing a health care plan can be overwhelming. It helps to know how you like to manage your care and if you want a plan that helps you save on taxes. Our health plan advisors can help you decide. Watch this video and visit http://www.bcbsm.com/101 to get started.

The Main Reasons Everyone Needs to Have Life Insurance

Many people find themselves second-guessing their decision to buy life insurance. Some may not think that it is worth paying for every month and would rather pocket the money by getting rid of this extra bill altogether. However, it would be a very bad idea to get rid of your life insurance plan. This policy is extremely important, especially if you are the main breadwinner for your household.

If something tragic ever happens to you that results in your premature death, then a life insurance policy will be able to provide your family with the money necessary for your funeral and any additional expenses that may pop up. No one likes to think about their own death, but you need to consider how your family will afford these costs when you’re gone. Having an adequate life insurance policy gives you the ability to no longer worry about these concerns.

In most cases, not only will your life insurance policy pay for your funeral and burial costs, it will also be able to cover many of your family’s living expenses. Most policies provide enough money to last your family for one year after you die. This should be plenty of time for your family members to find new sources of income in your absence.

Take some time to compare the various types of life insurance options that are open to you. If you are looking and life insurance for people over 60 and in relatively good health, there should be no problem with finding an insurance policy with a very affordable monthly rate. Speak with a few different insurance companies and see what each of them has to offer. Most life insurance plans do not cost much money at all. By spending a little bit of money each month, you can ensure that your family will be financially secure even if you are no longer around.


Why People Need Disability Insurance

When you are young it is hard to imagine yourself needing disability insurance. The idea of being crippled up with arthritis or wheelchair bound is foreign to you. But we all age eventually. What’s more, a disability does not always wait on aging. Even in youth you can suffer a disabling injury or illness. Thus it behooves you to plan for ahead for the unexpected by having disability coverage.

The statistics argue in favor of this. You may be surprised to know you are five times more likely to suffer a disability than to have a fire break out in your home. This statistic emphasizes how realistic the potential is to become disabled at some point in your life, and thus the wisdom of making sure you are properly insured for such an event.

A serious disability could impact your ability to be employed. Even on a temporary basis, could you manage without that regular weekly or monthly paycheck? If so, for how long? That is really what you are planning for when considering disability insurance – the unexpected loss of income. It’s that paycheck you bank on, the one that puts food on your table and pays the mortgage or rent. Without it, a person is one step away from being homeless.

How long do you suppose you could survive without a regular income? How long before your house is foreclosed on or your car is repossessed? This is something to seriously think about, and NOW rather than later when it may be too late.

If you are employed by a larger company that provides you with health insurance, you are likely also to have disability insurance coverage with your group health plan. However, with the new “Obamacare” provisions in place, some employers are opting to drop this coverage in favor of employees relying on exchanges provided by the Obamacare legislation. Now, more and more, such disability insurance must be purchased through an insurance company.

Do you have disability insurance? It’s vital you take steps to be sure you too are prepared for the unexpected.  Take your first steps by getting a set of disability insurance quotes online from a site like http://highincomeprotection.com.  You will not regret getting your ongoing ability to produce income insured.


Why You Should Purchase a Burial Insurance Policy

Burial insurance is different than a regular life insurance policy. Burial insurance, sometimes called final expense life insurance, will cover the expenses of a funeral. There are many options to select from when choosing a burial insurance policy that can make planning the funeral much easier on loved ones left behind.

If you passed away unexpectedly today and left behind a young growing family, you wouldn’t want them to have to struggle to make ends meet and pay for the funeral. A funeral can cost several thousands of dollars and it’s only going to become more expensive over the course of time. You don’t want to have to burden your family who is already grieving with this expense. They have plenty to deal with regarding the grief and loss without having to worry about money and final expenses. This is where a burial policy can help the surviving family  members to make it through.

While it may be tempting to look at the cost of burial insurance as more money to spend that may not be used, the truth is that everyone dies at some point in time. It’s important to be able to choose from a variety of options and get what you want and need so that you can fit this into your budget.

Talk to a knowledgeable insurance agent regarding burial insurance. Ask about the options offered in the various plans and get the rates on several of the policies before you decide which one best suits your needs. Don’t hesitate to buy the right plan when you find the one that meets all of your needs.

Remember, you’re buying peace of mind for your loved ones. When you’ve found a policy at a price you can afford, you’ll want to ensure that your family is well cared for if the unexpected should occur.


Life Insurance, The Necessary Evil

Life is expensive today with all these bills we have to pay each and every month. Most of us have to cover our car expenses, mortgage payments, phone bills, electricity bills, water bills, food expenses and the list could go on for a while. There’s no wonder that many people think life insurance is something they can live without just fine.

Indeed, one can live without life insurance. However, it may be hard to die without one. Funerals are expensive and they aren’t getting any cheaper. Terminal illnesses are also costly, so if you add these two, you can easily see how the family of the deceased person may end up in a big financial trouble or even in impossibility of paying their bills. This is something a grieving family could surely live without.

This is what life insurance is for: take care of your family in the event of your death. Depending on how much you are willing to pay, you could even get a policy that grants your spouse a certain amount of money each month for a number of years after you die. Other policies would entitle the survivor to a lump sum in case you die or you become crippled because of an accident. All life insurance basically takes care of your funeral expenses, so even if you go for the minimum coverage, you’ll still know this expense won’t fall on your spouse’s shoulders. This is great, if you think that she’d already be burdened by losing you. The last thing a surviving spouse needs is a big debt added on top of whatever others they might have already had.

The best way to decide which kind of life insurance suits you best is to talk with an insurance agent. I have used the guys at Goldsmith Insurance Assoc with great results.  They will describe all types of life insurance policies and costs in detail, so you can choose what you can afford to pay without becoming uncomfortable from a financial standpoint.


Affordable Life Insurance For Diabetics

Without careful consideration, you could end up finding that it can be fairly expensive to secure life insurance for diabetics. There are some insurers who will end up charging a higher premium for anyone who is diagnosed with insulin or blood sugar disorders. As a matter of fact, a number of life insurance companies will even charge additional premiums whether your diabetes can be controlled by diet or not.

In order to get the most affordable life insurance for diabetics, it will be important that you take your time to look through all of your options. Research each company and find out about the different policies that they offer and make sure that you take the initiative to learn about all that they cover. Understanding what is available for insurance when you are a diabetic will give you a good reference point to go by as you are comparing policies and pricing.

If possible, look around online and see what some diabetics are saying about the life insurance policies that they carry. You may also find information posted online by loved ones who lost a diabetic that can shed some light on the experience they had while filing the life insurance claim. The bottom line is, your diabetes should not prevent you from finding good life insurance to protect your family. Carefully researching all of your options will be the best way to get started.

Once you pick out a life insurance company that you feel comfortable with, you can work with an agent to make sure that you are able to secure a policy that meets your needs appropriately. In the end, you will be happy knowing that you did all that you could to leave behind financial security for your family despite any issues that may have arisen due to your diabetes diagnosis.


Why People Need Disability Insurance

When you are young it is hard to imagine yourself needing disability insurance. The idea of being crippled up with arthritis or wheelchair bound is foreign to you. But we all age eventually. What’s more, a disability does not always wait on aging. Even in youth you can suffer a disabling injury or illness. Thus it behooves you to plan for ahead for the unexpected by having disability coverage.

The statistics argue in favor of this. You may be surprised to know you are five times more likely to suffer a disability than to have a fire break out in your home. This statistic emphasizes how realistic the potential is to become disabled at some point in your life, and thus the wisdom of making sure you are properly insured for such an event.

A serious disability could impact your ability to be employed. Even on a temporary basis, could you manage without that regular weekly or monthly paycheck? If so, for how long? That is really what you are planning for when considering disability insurance – the unexpected loss of income. It’s that paycheck you bank on, the one that puts food on your table and pays the mortgage or rent. Without it, a person is one step away from being homeless.

How long do you suppose you could survive without a regular income? How long before your house is foreclosed on or your car is repossessed? This is something to seriously think about, and NOW rather than later when it may be too late.

If you are employed by a larger company that provides you with health insurance, you are likely also to have disability insurance coverage with your group health plan. However, with the new “Obamacare” provisions in place, some employers are opting to drop this coverage in favor of employees relying on exchanges provided by the Obamacare legislation. Now, more and more, such disability insurance must be purchased through an insurance company.

Do you have disability insurance? It’s vital you take steps to be sure you too are prepared for the unexpected.  Take your first steps by getting a set of disability insurance quotes online from a site like http://highincomeprotection.com.  You will not regret getting your ongoing ability to produce income insured.


Some Common Overlooked Tax Breaks

tax-timeEvery year U.S. citizens leave millions of dollars on the table by overpaying their taxes and missing some commonly overlooked tax breaks. Well, we are nearing that time of year again. April 15th is not far away. Are you forgetting about these tax breaks you could be taking advantage of?

Reinvested dividends

This is not a deduction, but an important mistake many people make.

If, like most investors, you have mutual fund dividends automatically used to buy extra shares, remember that each reinvestment increases your tax basis in the fund. That, in turn, reduces the taxable capital gain (or increases the tax-saving loss) when you redeem shares. Forgetting to include reinvested dividends in your basis results in double taxation of the dividends — once when they were paid out and immediately reinvested and later when they’re included in the proceeds of the sale. Don’t make that costly mistake.

Out-of-pocket costs associated with charitable work

Most of us do not forget about any big donations we make to charities, but there is often a lot of out-of-pocket costs that can accumulate while doing work for a charity. Perhaps you bought ingredients for a bake sale at your church. If you bought stamps to send out mailers for a charity, that is also a deduction. Keep your receipts. Anything costs incurred over $250 will require an acknowledgement from the charity documenting what you supplied. If you drove your car, in 2013 you can deduct 14 cents per mile, in addition to parking and tolls paid, while driving to, from, or during charity events.

Job-hunting costs

If you found yourself unemployed during 2013 and were looking for a job, your job-hunting expenses can be deducted. You can write off these expenses even if your job hunt was not successful. Some common costs associated with looking for a job are food and lodging expenses if you traveled out of town overnight, cab and public transportation costs, employment agency fees, and costs of printing resumes.

Medicare premiums if you are self-employed

Those who run their own business and have qualified for Medicare, can deduct the premiums that they pay for Medicare Part B and Part D, as well as costs for Medicare supplemental insurance, commonly called medigap policies.

You are not eligible for this deduction if you are eligible to be covered by an employer-sponsored health plan (you are employed in addition to running your own business) or a plan offered by your spouse’s employer.

Refinancing points

When you buy a house, you get to deduct the points paid to acquire your mortgage. Refinancing is a bit different. When you refinance, you have to deduct the points on the new loan over the life of that loan. In other words, on a 30-year mortgage, you can deduct 1/30th of the points a year. It may not seem like much, but do not just give it away.

Along with that, in the year that you pay off the loan, either through a sale or refinance, you may deduct any points that you have not yet deducted. There is an exception to this rule. If you refinance a refinanced loan with the same lender, you add the points paid on the latest deal to the leftovers from the previous refinancing, and then you can deduct those points paid over the life of the new loan.

Baggage fees

If you are self-employed and traveling for business, you can add the fees that the airline charges you for baggage to your travel deductions.

Social Security taxes you pay

This one applies to the self-employed as well. If you have to pay the full 15.3 percent tax yourself, you do get to write off half of what you pay. That deduction does not have to be itemized.