Life & Health Insurance
Life & Health Insurance Quote Forms
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Life & Health Insurance Information
Does your family need Life Insurance?
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent (or whole) insurance. It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals. It's always best to speak with one of the Advisors at William Blount & Associates to determine what best suits your needs for your situation. Here is a little more information about the two different types of life insurance:
| Term Life Insurance-- term insurance is designed to meet a temporary goal. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during that term. This type of insurance often makes sense if you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduation from college or until a particular debt is paid off, such as a mortgage.
Permanent Life Insurance, otherwise known as Whole Life Insurance-- will provide lifelong protection to your beneficiaries. As long as you pay the premium, and no loans, withdraws, or surrenders are taken, the full face amount will be paid. It is designed to last a lifetime and will accumulate cash value and is priced for you to keep over a long period of time.
How has the health insurance market changed?
Health insurance coverage is changing rapidly and very confusing with all of the new regulations. The Advisors at William Blount & Associates will shop the available markets to find what best suits your needs. With the new regulations, you can still purchase health insurance in the same ways you did before. You can still purchase through employers, individually, or now you have the option to purchase through a public program called the Health Insurance Exchange. If your employer does not offer insurance and you are left with the Health Insurance Exchange as your option, it's now easier to understand the policies because they are all written under similar policy language. Now that pre-existing conditions are not a factor in pricing, there still are other factors that affect the premium you will pay... those factors are age, area you are located, number of family members on the policy, and tobacco use.
What is 'long-term care' insurance?
Because of old age, mental or physical illness, or injury, some people find themselves in need of help with eating, bathing, dressing, toileting or continence, and/or transferring (e.g., getting out of a chair or out of bed). If you find that you're unable to complete two or more of those activities, or if you have certain impairments, you are said to need "long-term care." Don't be fooled by the term "long-term care" because you might only need it for a short period of time. Also, many people think that long-term care is provided exclusively in a nursing home. It can be, but it can also be provided in an adult day care center, an assisted living facility, or even at home with a caregiver. Long-Term Care insurance helps with the costs associated with these expenses.