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Do You Know The Factors That Determine Your Life Insurance Premiums?

Written by Business Insurance on . Posted in Best life insurance companies, Life insurance companies, Life insurance plan

life insurance companiesWhen starting your search for life insurance, finances are likely a concern. Purchasing a life insurance plan is essential to the financial protection of your loved ones, but you might be curious about the present monetary impact. As you might expect, there are many factors that underwriters and life insurance companies use to determine the cost of your life insurance premiums.

Age
Of course, you age is a significant factor of how much a company might charge for life insurance. Younger people are generally healthier and have a lower risk of death, so they often receive lower premiums. This might be all the more reason to buy life insurance when you are young.

Gender
In the United States, females have a longer life expectancy than males on average. This means that females are expected to pay for their life insurance for more years than their male peers. So, women are more likely to pay lower premiums.

Health History
When you purchase life insurance, some companies will require a medical exam to give to their underwriters. The better your health, the lower your premiums could be. the United States has the highest rate of chronic conditions, with about 87% of older Americans living with at least one. These illnesses certainly have an impact on health insurance cost. Your family history will also be taken into account, as your genes can put you at risk.

Lifestyle
High risk occupations in particular can put you in the running for higher insurance premiums. This means that truck drivers might have a higher premium than computer programmers. Underwriters might also take any high-risk hobbies into consideration.

Driving Record
Since car accidents cause a significant number of deaths, your insurance company will likely consider your driving history in your premium calculations. The fewer accidents you have on your record, the lower your premiums may be.

It’s important to remember that life insurance companies include many factors into their premium calculations. The above factors and more will be part of your premium calculation. If you have any questions about your premiums and why you are paying a certain amount, be sure to talk to your insurance company. Your representative can help you understand the details of your plan.

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Diabetes and Health Insurance Deep Dive: Part 1

Written by Business Insurance on . Posted in Best life insurance companies, Insurance, Life insurance companies, Life insurance plan

life insuranceDiabetes is a serious medical condition, and one that’s far more widespread than most people realize. This summer, a shocking new report from the U.S. Centers for Disease Control and Prevention showed that a third of all Americans have prediabetes, although many don’t know it. As a result, the number of Americans diagnosed with diabetes is always on the verge of rising even higher.

Diabetes can have a drastic effect on your life and your health insurance. In this series, we will take a closer look at this disease and the effect it can have on you, whether you are a person living on Medicare or you are attempting to acquire life insurance.

In the first part of this series, we will examine specifically the disease itself.

What Is Diabetes? Diabetes is a disease that prevents your body from properly handling glucose, or blood sugar. While glucose is an important energy source, especially for the brain, it can cause problems when left unchecked.

There are two main types of diabetes. Type one happens for an unknown reason, although it is largely thought to be based on genetic susceptibility. The second type of diabetes, aptly named type two, is the result of poor health factors, diet, as well as genetics.

In both cases, the body is no longer able to produce enough insulin to properly regulate glucose levels. Insulin, a natural hormone, is either no longer being produced in adequate amounts (type one), or the body has developed an immunity to insulin, which means you need an amount far above what your body can produce in order to regulate glucose (type two).

What Is Prediabetes? Prediabetes, which tends to produce only type two diabetes, occurs when your body begins to acquire a tolerance to insulin. Your body then ramps up production of insulin to combat your increasing tolerance.

The key distinction here is that your body can recover from prediabetes. With the proper healthy lifestyle and preventative health services, you can keep prediabetes from escalating to the point of no return. Currently, there is no cure for diabetes, which means you will require lifelong treatment to keep the condition under control.

How Can You Prevent Diabetes? Small steps can make a huge difference if you have been diagnosed with prediabetes. Incorporating small, healthy habits into your lifestyle can help stall or even reverse the development of your body’s insulin immunity. Going for a few walks per week and replacing sugary treats with fiber rich fruits and vegetables can have a tremendous impact.

Diabetes is a widespread problem, affecting the lives of millions of Americans. It has severe consequences for your health, your lifestyle, and your medical and life insurance coverage and payments. In the next installment of this three part series, we will examine the intersection of diabetes and Medicare.

Sources:
  1. U.S. Centers for Disease Control and Prevention, “More than 100 million Americans have diabetes or prediabetes,” July 2017


  2. The Mayo Clinic, July 2014

How Senior Life Insurance Can Improve Quality of Life in the Twilight Years

Written by Business Insurance on . Posted in Choosing a medicare supplement plan in iowa, Life insurance nevada, Medicare sc

Short term insurance eligibility in pa
With the advancement of age, a lot of health problems and difficulties can surface in the lives of most people. If you have seniors in your family, it is likely that you already know in detail about the kind of problems they might have to negotiate on a daily basis, and the prospect of failing health is not exactly the right mindset conducive to good quality of life, and a rewarding existence. Seniors typically have more idle time on their hands, and they tend to think deeply about a lot of things, which can contribute further to a life that is not exactly pleasant. A little peace of mind can go a long way in these circumstances, and this is why, when it comes to seniors in your family, one thing that you should always consider is the right insurance. Health insurance and life

What Are the Benefits of Medicare?

Written by Business Insurance on . Posted in Arizona life insurance plans, Life insurance plan, Tx medicare

Living a healthy life
Medicare is an insurance program for people 65 years or older, managed by the U.S. It relies on payroll taxes, premiums and general revenues to provide healthcare services through private insurance companies. It is generally considered to be an example of a highly successful medical insurance program and provides coverage for seniors for most health care exposes. Sometimes Medicare Supplement insurance is needed to pay for costs not covered by the plan.

How to enroll for Medicare
Medicare was first introduced in 1966 to provide health insurance for seniors. People over the age of 65 can enroll during the Medicare Fall Open Enrollment between October 15 to December 7. Their insurance coverage will begin from January 1. Sometimes people are signed up automatically when the

Preventive Health Care on Medicare Part 2: For Men

Written by Business Insurance on . Posted in Uncategorized

medicaremedicare

Preventative Health Care is one of the most important services for people over 65, and one of the best tools offered by Medicare. This is, at least in part, to help offset the extreme frequency with which Americans suffer from chronic conditions: According to the Commonwealth Fund, 87% of older Americans live with a chronic health condition, with 68% reporting at least two or more.

Preventative Health Services and Screening help to catch these ailments in their infancy in order to reduce their effect and eventual cost, both to the person suffering from the disease and on the Medicare system at large, and ease the burden of managing health care expenses.

In the first post in this four-part series, we discussed how Medicare Plan B health insurance covers all the costs associated with most of the more common preventative screenings and services, from diabetes to depression. In this second installment, we will be talking specifically about the types of preventative services that are recommended for men over 65.

Colorectal Exam

Most men should be well verse with colonoscopy exams and other colorectal screening exams by the time they enroll in Medicare, as the starting age should be at the latest 50, these tests become increasingly important as you age. That is because a 70-year-old is almost three times as likely to be diagnosed with colorectal cancer than a 50-year-old. While these exams have been the subject of sitcom jokes for decades, they remain the best way to identify precancerous polyps or early stages of cancer.

Prostate Exam

Like colorectal exams, the prostate exams should begin well before you have reach Medicare aid, but here, the increased risk as you age is even greater. Between age 50 and 70, the chance of getting prostate cancer in the next ten years more than triples! There are a number of different ways to check for prostate cancer, including prostate specific antigen blood tests and digital rectal exams. Depending on the result of the first two tests, there may need to be a follow up screening.

While these two screening services are specifically more applicable for men, they should also engage in the more general types of screening. In our next installment we will discuss the tests specifically relevant for women.

Part 3: What You Need to Know about Medicare and Cancer

Written by Business Insurance on . Posted in Cancer Care Insurance

cancer care insurancecancer care insurance

No matter who you are, cancer is a difficult experience. Whether you are struggling with it yourself, or a loved one has recently been diagnosed, it is easy to become overwhelmed by the deluge of information and advice that will come at you from all sides.

 

If you or your loved one is also reliant on Medicare, the process can be even more complicated. In the first two posts in this series, we talked about using Medicare to help finance you or your loved one’s fight against cancer (post one talked about original Medicare, post two focused on parts C and D).

 

In this final installment, we will discuss how both cancer care insurance and Medicare supplement insurance plans might help you.

Supplimental Insurance Plans (or Medigap)

Medigap can be a life saver for anyone living on a budget when diagnosed with cancer. While the premiums can be high, ranging from $100-$200, they offer you a lot more flexibility and tools to fight off your cancer.

 

Typically, they allow a much broader selection of medical facilities, instead of the small net that a Medicare Advance plan will offer. They also allow you to remain on your original Medicare A and B plan which can offer perks like better-regulated coverage.

 

Plan F is the most all-encompassing program currently offered. Even if the cost of the medicine is not covered by Part A or Part B, Plan F will cover them so long as they are Medicare approved.

 

It is important to note that Medigap policies will only cover one person. If you and your spouse want the same benefits, then you must enroll twice according to the Centers for Medicare and Medicaid Services.

Cancer Care Insurance

While cancer car insurance is a newer form of insurance, it is specifically targeted to help reduce the astronomical costs associated with cancer treatment. These programs are slowly growing more and more popular as new statistics emerge that show as many as one-in-four men and one-in-five women die from cancer in the United States.

 

Unlike Medicare options, cancer care insurance also provides assistance with non-medical financial needs while you are undergoing treatment. These can range from child care to dietary support, and even assist you with housing and travel if you live far enough from your treatment center.

 

The main drawback to this type of insurance is that you would typically need to be enrolled before your diagnosis.

 

Cancer is by far the worst plague for the modern American. If you or a loved one suffer from this disease, it is important that you know your options. As we come to the close of this three-part series, hopefully, you are a little better equipped to handle your ailment.

Part 1: What You Need to Know about Medicare and Cancer

Written by Business Insurance on . Posted in Insurance

insurance

Navigating Medicare can be notoriously difficult. Even learning what Medicare does and doesn’t cover can be difficult. But, unfortunately, this process is even more difficult when you or someone you love is dealing with something as serious as cancer.

In this three-part blog post, we will explore some of the best ways to make sure you and your loved ones will receive the care they need during this trying time.

Cancer Treatments and Original Medicare (Medicare A and B)

The most basic form of Medicare, comprised of parts A and B, will offer some support for the most basic needs of you or your loved one. Common treatments such as chemotherapy and radiation therapy will be partially covered, although the amount you are expected to pay will vary depending on whether the procedure is performed inpatient or outpatient.

Medicare A

If you are undergoing radiation or chemotherapy as an inpatient procedure, then you will be covered by Medicare A once you have reached your deductible, although radiation might include a co-pay.

Medicare A is an excellent choice for many Americans, but it is not enough to cover a thorough cancer treatment on its own, as medicare A does not cover outpatient procedures or prescription drugs.

That is why many people pair it with Medicare B.

Medicare B

Medicare B is designed to help with the costs of outpatient procedures performed in a hospital, clinic, or doctor’s office. Not only does this program cover outpatient chemotherapy and radiation therapy, it also covers a limited number of self-administered prescriptions, such as anti-nausea pills. Medicare Part B even covers certain types of cancer screening, like breast and prostate exams. This fact is particularly important given that a biennial breast exam has been shown to reduce the number of breast cancer-related deaths for women between ages 65 and 74, according to a 2013 study by The State of Aging and Health in America.

The downside with Medicare B is that it is more expensive than having only medicare A. In addition to a monthly fee, Medicare B also requires a deductible and a typical copayment of 20% the Medicare approved cost for a procedure or medicine. Like most Medicare supplement insurance plans, the so-called Medigap plans, the improved coverage will cost you.

Why Original Medicare May Not be Enough.

An effective cancer treatment requires a well-rounded approach involving a number of treatments and medicines. While Medicare A and B can help with a number of your healthcare costs, many of the prescription drugs that you will need may not be covered, leaving you responsible for the total cost.

In part two of this three part series, we will examine your options for Medicare supplement insurance, as well as cancer care insurance policies to help you decide what is the best insurance option to help you or your loved one’s fight against cancer.

Choosing the Right Car Insurance Policy for Your Needs

Written by Business Insurance on . Posted in Auto insurance, Insurance companies birmingham

Insurance companies birmingham
In life, there are many things that can be considered sensible and smart, and can constitute important methods to live a life with more peace of mind. Getting insurance is one such thing in life, and if you are thinking about getting any kind of insurance in the near future, it can definitely be a decision that can change your life in the most positive of ways and make things much better in many aspects. The most basic concept of getting insurance is that you spend literally every month to make sure that there is sound financial coverage for important requirements later on in time, and this can apply towards any kind of requirement that might need a significant financial coverage. Popular kinds of insurance include health insurance, life insurance, car insurance and home insurance, and just taki

Understanding Four Different Types of Insurance Coverage

Written by Business Insurance on . Posted in Motorcycle insurance panama city beach fl, Renters insurance panama city beach fl, Rv insurance panama city beach

Types of car insurance
When you think about insurance and insurance coverages, sometimes things can seem so complicated that you don’t even want to think about all that insurance entails. The truth is, things are really not that complicated at all. The four big insurance types that you want to learn about are the three that can be the broadest and, at the same time, be adapted to fit you and your situation. Those four types of insurances are home insurance, health insurance, life insurance, and auto insurance. Home insurance is meant to protect your home and your personal belongings from any kind of theft or destruction of the property. Getting home insurance is usually a must if you have a mortgage. The question is, do you have the right kind? One of the good things about homeowners insurance is that you will need to

What Is Your Post-Retirement Health Care Coverage Plan?

Written by Business Insurance on . Posted in Life insurance in georgia, Medigap plans nj, Short term health insurance in iowa

Pennsylvania life insurance plans
If you’re in the process of preparing for retirement, you’ve most likely been thinking about your potential health care needs and options. Some of the options you may be considering include the following products and services:
    Affordable term life insurance
    Cancer insurance policy
    Medicare supplement insurance
    Short term health coverage

Regardless of whether or not you plan to retire early or not at al, it’s important to consider the potential need for additional health care coverage. When you contact a life insurance company, they can provide an overview of their available plans and assist you with choosing the right one for you.
According to The State of Aging and Health in America’s 2013 report, by 2030, there will be approximately 72 mi