Southern Insurance Advisors also writes Health Insurance and Life Insurance.
Why do you need Health Insurance you wonder? Health Insurance protects you from unexpected, high medical costs. You will pay less for covered in-network health care. You will have a copay when you need to see the Doctor instead of paying for every visit out of pocket. They offer a deductible, that you are able to pick when signing up with your Health Insurance provider. You may also receive free preventive care, like vaccines, screenings, and some check-ups, before you meet your deductible. After you have met your deductible, your health insurance plan will pay its portion of the cost of covered medical care and you will pay your portion, or cost-share.
A deductible is the amount you pay for your health care before your health insurance begins to pay.
If your plan's deductible is$2,000, you will pay 100% of eligible health care expenses until the bills total $2,000.00. You will share the cost with your plan by paying coninsurance.
Life Insurance is also known as a death benefit. Essentially, in exchange for your premium payments, the insurance company will pay a lump sum known as a death benefit to your beneficiaries after your death. Your beneficiaries will be able to use the money on whatever they choose. It can help pay for funeral expenses, paying off your mortgage, and any other expenses that you do not want to leave your family to have to pay.
How long do you have to pay life insurance before it pays out? Life Insurance providers usually pay out within 60 days of receiving a death claim filing. Beneficiaries must file a death claim and verify their identity before receiving payment. There must be proof that you are who you are. The benefits could be delayed or denied due to policy lapses, fraud or certain causes of death. Suicide is not covered under a life insurance policy.
What age should you get life insurance? You will typically pay less for term life insurance at age 20 than you will at age 60. The older you get, the more the price will increase.
That is just a little bit of need to know about Health and Life Insurance. If you have any questions feel free to give us a call 832.777.5562.