Insurance Tips for Everyday People
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What is a Qualified Life Event or QLE?
A QLE (Qualified Life Event) is a “change” in your situation — like getting married, having a baby, or losing health coverage — that can make you eligible for a (SEP) Special Enrollment Period. Once you qualify for an SEP, you are able to purchase an Affordable Care Act (ACA) plan from www.Healthcare.gov. There are Four…
What is Universal Life Insurance?
Universal Life Insurance (UL) is a permanent life insurance policy that allows policyholders to change their monthly premium (payment amounts) if they are experiencing financial issues. UL plans also grow cash value with tax advantages. What are The Key Features and Benefits of Universal Life Insurance? Universal Life Insurance offers a unique blend of death benefit…
What is the Difference Between an Insurance Agent and an Insurance Broker?
Insurance agents usually represent one insurance company so they can only offer you options from the company they work for. Brokers act as a middleman between you and an insurance carrier(s). He (or she) fights for your best interests, but understands the insurance company’s perspective so that you as the client are well taken care…
When is AEP?
AEP stands for the Annual Enrollment Period. Insurance Carriers will make their plans for the following year available on their sites beginning October 1st. However, you cannot make changes to your Medicare Advantage Plan or Stand-alone Prescription Drug Plan until October 15th. The Annual Enrollment Period is open from October 15th through December 7th. If…
Is the Medicare “Donut Hole” Gone?
Beginning on January 1, 2025, Medicare Prescription Drug Plans, also known as Part D will no longer have a Donut Hole or Coverage Gap. Starting in 2025, the Inflation Reduction Act will implement significant changes, resulting in only three distinct phases for Part D Plans. The deductible phase, the initial phase and the catastrophic phase.…
Why do I need Travel Insurance?
We recently talked to someone, without travel insurance, that was charged over $1,000 for a visit to the ship’s doctor on an international cruise. A travel plan would have cost less than $100 for their entire family, but they did not purchase one because they did not want to spend money. We receive a variety…
What is P & C Insurance?
P & C Insurance stands for Property and Casualty Insurance. This includes policies for needs like home, auto, and umbrella insurance. With rising costs, it may be wise to check your P&C policies to see that you have proper coverage for your property and adequate coverage for liability. Most states require auto insurance to operate…
What is Whole Life Insurance?
Whole life insurance is a type of life insurance policy that offers lifelong coverage. This means that, as long as the premiums are paid, the policy will remain in force until the insured person passes away. What are Key Features and Benefits of Whole Life Insurance? When is Whole Life Insurance a Good Choice? Whole…
What is STM or Short-Term health Insurance?
The Insurance Solutions Experts have several Short-term Medical Carriers available. Call our office – South/Southwest: 210-277-7871 or East/Midwest: 636-732-1122.