Posts by Shane Saunders
8 Factors Influencing Life Insurance Cost
As discussed in other blogs, term life insurance is usually the most affordable of the main 3 types of life insurance, followed by universal life insurance and then whole life insurance. In other words, you can usually get “more bang for your buck” with term life insurance because of the lower cost compared to permanent life…
Read MoreShort Term Medical Health Insurance changes are coming September 1st, 2024
What changes are coming for Short Term Medical Health Insurance? If you have health insurance that is not an ACA (aka Obamacare, Affordable Care Act, Marketplace), Medicare, or a group plan, then the chances are high that you have an STM (short-term medical) health insurance plan also known as a Short-Term, Limited-Duration Insurance (STLDI) plan.…
Read MoreWhat is Permanent Life Insurance?
Permanent life insurance provides lifetime coverage and has cash value. Whole Life and Universal Life Insurance are the two main types of permanent life insurance. What is Whole Life Insurance? Whole life insurance is usually better for people wanting permanent life insurance with guarantees. Whole life insurance premium payments and death benefits do not change…
Read MoreWhat is Term Life Insurance?
Term life insurance (also known as term assurance) is life insurance that provides coverage at a fixed rate of payments for a set period of time. After that period expires, coverage at the previous rate of premiums is no longer guaranteed. The client must then either forgo coverage or potentially obtain further coverage with different…
Read MoreLife Insurance
In this post, you will find common questions our team receives when someone contacts us about purchasing life insurance. What is life insurance? According to dictionary.com, life insurance is: “insurance that pays out a sum of money either on the death of the insured person or after a set period. https://www.dictionary.com/browse/life-insurance In addition, life insurance…
Read MoreWhat is a co-pay?
Co-pay /ˈkōˌpā/ Noun A contribution made by an insured person toward the cost of medical treatment or other services: US “plans with low premiums are more likely to have high co-pays”. https://www.dictionary.com/browse/copay A co-pay (or copay or co-payment) is a set fee that you pay when you go to your doctor or fill a prescription.…
Read MoreSink Your Teeth Into Health
Some dental insurance plans offer 100% coverage from day one when you visit a network provider so you don’t have to worry about cost. Ask me about which ones offer this!
Read MoreWhat are health plan premiums?
Your premiums paid do NOT go towards your deductible or max out-of-pocket limit.
Read MoreWhat does “max out-of-pocket” mean?
A max out-of-pocket, also referred to as an out-of-pocket maximum, is the most a health insurance policyholder (client) will pay each year for qualified healthcare expenses.
Read MoreWhat is a deductible?
Most health insurance plans have a deductible that designates the amount of money someone must pay before the insurance company (health plan) starts covering some or all of the major expenses.
Read More$0 Deductible Plans: Sure Thing or Suspect?
Picture this: it’s time for Open Enrollment for health insurance. You can choose group health insurance, ACA, or a short-term medical plan. Then, someone offers you a plan with no deductible (first-dollar benefits) that is cheaper and sounds great. Do you enroll in it? What do you need to know before you purchase one of…
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