health insurance

What is Health Insurance?

Health insurance is designed to protect you and your family from the costs associated with medical services you may need when you’re sick or injured. Similar to auto insurance, you choose a plan and agree to pay a specific rate, or premium, each month. Your health insurer then agrees to pay a portion of your covered costs. Payments made by your insurer are typically based on discounts that health insurers negotiate with doctors or hospitals.

Help With Your Health Insurance Needs

No one plans to get sick or hurt. But illnesses and injuries can happen at any time. In some cases, they can be devastating to your health and leave you with overwhelming medical bills. Health insurance limits your risk of paying for very expensive illnesses and injuries by covering medical care and other services, such as hospitalization and surgery.

Health Insurance Payments

In addition to a fixed monthly premium, you may also pay each time you receive care from a doctor or hospital, have a prescription filled, or receive medical care. Here are some cost-sharing terms you should know:

  • Deductible

    The amount you pay each year before your health plan starts paying for covered services.

  • Copay

    The flat fee you pay when you see a doctor or receive other services.

  • Coinsurance

    The percentage you pay for some covered services. If your coinsurance is 20 percent, your health insurance company will pay 80 percent of the cost of covered services; you will pay the remaining 20 percent.

  • Out-of-pocket maximum

    The most you will have to pay for your health care expenses during a plan period (usually a year). No matter what, you will not pay more than this amount each year.

life insurance

Decide How Much Coverage You Need

How much of the family income do you provide? Does anyone else depend on you financially? How will your family pay final expenses and repay debts after your death? Based on the answers to these questions, decide how much coverage you need, for how long and what you can afford to pay. You want to make sure that you buy enough life insurance to cover the financial effects of an unexpected or untimely death.

Compare The Different Kinds of Insurance Policies

There are two basic types of life insurance: term insurance and cash value insurance. Term insurance generally has lower premiums in the early years, but does not build up cash values that you can use in the future. Cash value life insurance may be one of several types: whole life, universal life and variable life. Your choice should be based on your needs now and in the future and what you can afford.

Assess Your Current Life Insurance Policy

If you already have a life insurance policy, do not cancel it until you have received the new one. You then have a minimum period to review your new policy and decide if it is what you want. Keep in mind that you may not have to cancel your current policy. You may be able to change your policy to get the coverage or benefits you want now.

Have an Insurance Agent Help You Evaluate the Future of Your Policy

How quickly does the cash value grow? Some policies have low cash values in the early years that build quickly later on. Other policies have a more level cash value build-up. Ask your agent for a year-to-year display of values and benefits.

It is important that you do not drop one policy and buy another without a thorough study of the new policy and the one you have now. Replacing your insurance policy may be costly.

real estate services

Are You Ready to Buy a Home?

Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a home is a financial and emotional decision that requires the experience and support of a team of reliable professionals including a Realtor, a lender, a lawyer and a range of other individuals.

Finding the Perfect Home

Even though the Internet gives you access to endless amounts of market information, don’t be tempted to go it alone. Instead, partner with a real estate agent you like who will listen to you. We can line up properties to view, answer many of your questions and make connections for you in your new community. Agents often have the inside track on new properties just coming on the market.

Making an Offer on a House

While much attention is paid to the offering price of a home, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value for buyers or additional costs. Terms are extremely important and should be carefully reviewed.

The process of making offers varies around the country. In a typical situation, you will complete an offer sheet that the realtor will present to the owner and the owner’s representative. The owner, in turn, may accept the offer, reject it or make a counter-offer.

Because counter-offers are common (any change in an offer can be considered a counter-offer), it’s important for buyers to remain in close contact with their agent during the negotiation process so that any proposed changes can be quickly reviewed.

Please give us a call at (765) 482-1480 or toll free at 1-888-482-1480. You may also e-mail us any questions you may have regarding your particular real estate needs.