Do you need insurance coverage? Learn how to choose your insurance with confidence and ease

Four steps to you get the most of your health and insurance cover research, purchase and understanding health insurance coverage options are not always easy tasks. Here are a few easy to follow on how to begin your journey through all the madness of health care tips online.

Step one - create a current list of your health conditions, medications and any current health. You may also want to take note of your main concerns and questions about the choice of an adequate health insurance.

Step 2 - retrieves information from multiple insurance providers. Plans not all care are the same. It is a value of time and efforts to review more than once insurance policy. It can save you time, money and improve the quality of health care in the future.

Some of the great names of health insurance can be an excellent place to begin your comparisons such as: Gold rule insurance, Celtic insurance, American Medical Security insurance, life insurance, insurance UNICARE, Humana Insurance and Blue Cross Blue Shield insurance Michigan-just for a few.

Those of you help Michigan Medicaid and Medicare must first meet the qualification requirements. Each County may have requirements, such as income and much more. Check with your local Department of health for more information.

Step 3 - review each plan insurance benefits under these sections of the basic coverage notes: Gyn specialist care, hospitalization, prescription, dental, vision, Ob - emergency care drugs, physical examinations, preventive and alternative care. Remember to evaluate using the notes you made in step one.

Co-pays, limits and deductible amounts in each section of the expenditure for each insurance plan that you consider carefully. The goal is to make what is called "comparison shopping". As you go through this process, likely one or two health policies will be appear to meet your needs better than others.

Step 4 - once you have chosen two or three possible insurance schemes take notes, questions and concerns of each. Now it is time to get your questions answered and to make your decision.

It is important to make sure that you speak with a qualified, licensed health insurance agent. Please feel free to ask questions until you feel that you have all the information you need to make a good choice.

Other useful information

Compare online health insurance and save time

Take your time to find what you need at a price that offer you. He is great subject searching options that you can compare plans online health insurance and benefits on your own, without talking to different representatives. Most health insurance companies provide free online and free online instant rate quotes. Everything that is necessary is to enable you to quickly complete a secure application. In the matter of minutes, you have your results in front of you. Just in case you have any questions these companies have licensed professional health insurance are waiting for your call.

Keep it in! Who can benefit from temporary health insurance?

Temporary insurance or short term medical insurance is also available in Michigan and will allow you to have a cover for a temporary period. This type of insurance is not good for everyone. Inquiries of this kind of health care generally comes from those who are between jobs, seasonal, laid-off employees and can same adult young advantage recently from their parents health plan. Plans tend to be somewhere between six months, but some have been known to go to twelve months.

Temporary health insurance forms are much simpler than permanent insurance. Coverage on a short term plan can begin as soon as 24 hours. This insurance applies invisible accidents and disease. Because it is temporary, they do not cover usually preventive care, vision, dental or pre-existing conditions. For pre-existing conditions, you can check your COBRA benefits. There are other ways to keep your health insurance after the loss of your job

Don't let not a recent job prevent you the care you need! For example if we expected a loved one, the last thing you want is to lose your maternity insurance. There is another solution, called consolidated Omnibus Budget Reconciliation Act or COBRA. This type of insurance normally last longer that insurance temporary or short-term, but it is still a type of temporary insurance. Normally political COBRA may last approximately eighteen months. For more information on policy extended to the COBRA, plans speak to your employer in terms of their specific health insurance carrier. Many people don't know about temporary health insurance coverage. In fact, people take coverage opportunities all the time due to the lack of knowledge. Temporary health insurance benefit is to fill a gap in coverage. Although temporary coverage is fantastic to have, it does not replace the permanent cover. Michigan HIPAA do and how they might you effect

If you currently pre-existing conditions and are looking for in the short term health insurance WAIT! You can purchase that cover you and then make it you unacceptable for the care you need health coverage. HIPAA stands for the Health Insurance Portability and Accountability Act. HIPAA plans are primarily for those who have pre-existing conditions and may have trouble obtaining insurance. These plans can be extremely expensive. The federal HIPAA law gives someone an immediate access to comparable coverage leaving job providing coverage.

Become familiar with your rights and consult your benefit Advisor to discuss the best options for you. You can take your health with health insurance companies where there is a plan to fit the need of the world. Reading and doing your homework on plans that relate to your needs can help eliminate unnecessary and help information, you will find much faster right health insurance plan.

Copyright 2006 Lisa Ip

Lisa Ip is President of gourdes assurances that it was founded in 1994, Madison Heights, Michigan. For more information on insurance in Michigan, visit http://www.uniforceinsurance.com or call 888-302-rates

Life insurance - learn a former agent

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Life Insurance is an insurance product that pays at the death of the insured. It really should be called "Death Insurance," but people don't like that name. But it insures the death of an individual. Actually, what is insured is the economic loss that would occur at the death of the person insured.

Those economic losses take a lot of different forms, such as:

- the income stream of either "breadwinner" in a family

- the loss of services to the family of a stay-at-home-mom

- the final expenses at the death of a child

- final expenses of an individual after an illness and medical treatment

- "Keyman" coverage, which insures the owner or valuable employee of a business against the economic loss the business would suffer at their death

- estate planning insurance, where a person is insured to pay estate taxes at death

- "Buy and Sell Agreements," in which life insurance is purchased to fund a business transaction at the untimely death of parties in the transaction

- Accidental death insurance, in which a person buys a policy that pays in case they die due to an accident

- Mortgage life insurance, in which the borrower buys a policy that pays off the mortgage at death - and many more.

Life insurance has been around for hundreds of years, and in some cases, has become a much better product. The insurance companies have been able to develop mortality tables, which are studies of statistical patterns of human death over time...usually over a lifetime of 100 years. These mortality tables are surprisingly accurate, and allow the insurance companies to closely predict how many people of any given age will die each year. From these tables and other information, the insurance companies derive the cost of the insurance policy.

The cost is customarily expressed in an annual cost per thousand of coverage. For example, if you wanted to buy $10,000 of coverage, and the cost per thousand was $10.00, your annual premium would be $100.00.

Modern medicine and better nutrition has increased the life expectancy of most people. Increased life expectancy has facilitated a sharp decrease in life insurance premiums. In many cases, the cost of insurance is only pennies per thousand.

There is really only one type of life insurance, and that is Term Insurance. That means that a person is insured for a certain period of time, or a term. All of the other life insurance products have term insurance as their main ingredient. There is no other ingredient they can use. However, the insurance companies have invented many, many other life products that tend to obscure the reasons for life insurance. They also vastly enrich the insurance companies.

Term Insurance

The most basic life insurance is an annual renewable term policy. Each year, the premium is a little higher as a person ages. The insurance companies designed a level premium policy, which stopped the annual premium increases for policyholders. The insurers basically added up all the premiums from age 0 to age 100 and then divided by 100. That means that in the early years of the policy, the policyholder pays in more money that it takes to fund the pure insurance cost, and then in later years the premium is less than the pure insurance cost.

The same level term product can be designed for terms of any length, like 5, 10, 20, 25 or 30 year terms. The method of premium averaging is much the same in each case.

But this new product caused some problems. Insurers know that the vast majority of policyholders do not keep a policy for life. Consequently the level term policyholders were paying future premiums and then cancelling their policies. The insurance companies were delighted because they got to keep the money. But over time, they developed the concept of Cash Value.

Cash Value Insurance

With Cash Value insurance, a portion of the unused premium you spend is credited to an account tied to your policy. The money is not yours...it belongs entirely to the insurance company. If you cancel your policy and request a refund, they will refund that money to you. Otherwise, you have other choices:

1. Use the cash value to buy more insurance

2. Use the cash value to pay existing premiums

3. You may borrow the money at interest

4. If you die, the insurance company keeps the cash value and only pays the face amount of the insurance policy.

So, does this cash value product make sense? My response is "NO!"

Cash Value Life Insurance comes in lots of other names, such as:

- Whole Life

- Universal Life

- Variable Life

- Interest Sensitive Life

- Non-Participating Life (no dividends)

- Participating Life (pays dividends)

Many life insurance agents and companies tout their products as an investment product. But cash value insurance is not an investment. Investment dollars and insurance premiums should never be combined into one product. And investment dollars should NEVER be invested with an insurance company. They are middle men. They will take your investment and invest it themselves, and keep the difference.

Think about the methods that agents use to sell life insurance, and compare them to any other type of insurance. What you'll see is that life insurance sales tactics and techniques are ridiculous when compared to other insurance products.

Would you ever consider buying a car insurance policy, or homeowners policy, or business insurance policy in which you paid extra premium that the insurance company kept, or made you borrow from them? But, curiously, life insurance agents have been wildly successful convincing otherwise intelligent people that cash value life insurance is a good product to buy.

Care to guess why insurance agents have aggressively sold cash value insurance and eschewed term insurance?

Commissions.

The insurance companies have become vastly wealthy on cash value insurance. So, to encourage sales, they pay huge commissions. Term insurance commissions can range from 10% to 50%, sometimes even 100%. But cash value insurance commissions can be up to 100% of the first year's premium, and handsome renewal commissions for years after.

But it's not just the commission rate that matters. It's also the premium rates that come into play. Term insurance is FAR CHEAPER than cash value insurance.

Here's an example of a 30 year old male, non-smoker, buying $100,000 of coverage:

Term insurance costs $0.50 per thousand for a premium of $50.00. At 100% commission, the commission would be $50.00.

Cash Value insurance costs $12.50 per thousand for a premium of $1,250.00. At 100% commission, the commission would be $1,250.00.

So you see that it would be easy for an agent to place his own financial well-being ahead of the well-being of his client. He would have to sell 25 term policies to make the same commission as only one cash value policy.

But, in my opinion, that agent would have violated his fiduciary duty to the client, which is the duty to place the client's needs above his own. The agent would also have to set aside his conscience.

My opinion is that life insurance agents operate from one of three positions:

1. Ignorance - they simply don't know how cash value insurance works.

2. Greed - they know exactly how cash value insurance works and sell it anyway.

3. Knowledge and Duty - they sell term insurance.

Which agent do you want to do business with?

How do I know this stuff? Because I sold cash value life insurance early in my career.

When I started as an insurance agent in 1973 I knew absolutely nothing about how life insurance worked. The insurance company taught me to sell whole life insurance, and to discourage clients from term insurance. But, after some time of reading and research, I learned that cash value insurance is a bad deal. I began to sell only term insurance. I refused to set aside my conscience. I also went back to some early clients and switched their policies from cash value to term.

The insurance company fired me for that decision.

I found a new insurance company that only sold term insurance and also paid high commissions. I made a good living selling term insurance, so I know it can be done.

So, as you shop for life insurance, please accept the advice of an old agent. Never, never, ever buy cash value life insurance. Buy term insurance.

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