3. September 2018 15:52
by Jamie
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Introduction to Dental Insurance

3. September 2018 15:52 by Jamie | 0 Comments



Aside from protecting that beautiful smile of yours, dental care ensures good oral and overall health – hence the obvious importance of having dental insurance.

Several studies suggest that oral diseases, such as periodontitis (gum disease), can affect other areas of your body—including your heart. I had to learn this the hard way in my early teens. My gums would literally bleed whenever I went to get my teeth cleaned. I though the hygienist was crazy when she suggested that my gum disease could lead to heart problems later in life. But, it’s true. Study after study has suggested that the health of your mouth plays a key role when it comes to the health of the rest of the body.

Understanding your options when it comes to dental coverage will help protect you and your family from the high cost of dental disease and surgery (should things ever get to that point).

What is Dental Insurance

Dental coverage is very similar to traditional medical insurance and is one of the voluntary benefit options commonly offered through employers. When buying an individual health insurance plan, dental insurance can be obtained in 2 ways:

  1. By buying a health insurance plan from the Marketplace that comes bundled with dental coverage.
  2. By buying a stand-alone dental plan separate from your health insurance plan (yes, in this case you’ll end up paying 2 premiums instead of just 1).

Just like health insurance, you pay a premium and then your insurance will cover part or all of the cost for many dental services. Also similar to health insurance, dental coverage is offered in several types of plans:

  • Dental Health Maintenance Organization (DHMO): Coverage is only provided when you visit dentists who are in- network with the insurance plan.
  • Dental Preferred Provider Organization (DPPO): Coverage is provided with in- or out-of-network dental care providers, but you will typically pay less with an in- network dentist.
  • Dental Indemnity Plan: Coverage is provided for any dentist you choose, with no difference in cost.
  • Discount dental plan: This type of plan is a common option for reducing dental costs without regular insurance coverage; with this plan, you pay for all your dental care at an agreed-upon discounted rate.

Why Should I Have Dental Insurance

There’s a pretty obvious answer to this question. Professional dental care can diagnose or help prevent common dental problems including toothache, inflamed gums, tooth decay, bad breath and dry mouth. If conditions like these remain untreated, they can worsen into painful and expensive problems such as gum disease or even tooth loss. According to the American Dental Association, more than 16 million children in the United States suffer from untreated tooth decay, which is the most common chronic childhood disease.

Regular dental exams can not only treat dental problems but can also identify other serious health concerns, including some types of cancer.

Dental coverage will allow you to inexpensively receive preventive and diagnostic care from your dentist.

How the Affordable Care Act Changed Dental Insurance

Under the Affordable Care Act (ACA), dental services are an essential health benefit for children under the age of 18. That means that dental coverage must be available for your child either as part of a health plan or as a stand-alone plan. While dental coverage must be available to your children, you don’t have to buy it.

Unfortunately, the essential health benefit status for dental coverage does not apply to adults. In addition, unlike medical insurance, you do not have to obtain dental coverage to avoid penalties from Uncle Sam come tax time.

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26. July 2018 13:48
by Harry
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Umbrella Insurance for a Very Rainy Day

26. July 2018 13:48 by Harry | 0 Comments

Many consumers are not aware of the benefits provided by an umbrella policy and many may not even be aware of the existence of such a policy. Others might just view it as an “upsell” offered by insurance companies and agents hoping to make some extra income. However, the policy actually offers significant benefit to individuals and, according to the Insurance Journal, the state of Maryland’s Insurance Administration has issued a consumer advisory explaining the policy’s benefits. If you don’t currently have an umbrella policy, you’ll want to read on to understand better what it can do for you and your family.

In your standard home insurance policy, there’s a limit of liability for personal liability claims. The usual coverage that’s automatically provided is generally $100,000. However, given today’s litigious society and the cost of medical care, a claim can easily exceed that amount. If you are a homeowner, your assets, including your house, can be attached in the event of a judgment against you. This is where an umbrella policy can really help out.

The personal umbrella policy is given its name because it acts as an umbrella over more than just your personal liability policy. Most people who have umbrellas use the policy as extra protection for both their personal liability and automobile liability coverages. For example, if you have a $1 million umbrella policy, it will provide the $1 million in protection if either your personal liability or auto liability policy limits were exhausted.

Keep in mind that this is a liability policy and not a property policy. Therefore, even though your home insurance policy has two main types of coverage, the umbrella only applies to the personal liability portion of the coverage. As an example, if you have not insured your home for the proper amount and have a large claim, the umbrella policy will not provide you with any benefit. On the other hand, if someone is injured on your property and sues you, the umbrella policy will be prepared to step in if your home insurance policy’s personal liability limit is exhausted.

It’s common for people to consider the umbrella policy as an optional item and not necessary. Even if they are aware of the existence of umbrellas, many people choose not to purchase them, thinking that a very large loss will never happen to them. Unfortunately, when something unforeseen actually happens, it’ll be too late to purchase the coverage. Umbrellas are generally inexpensive when viewed in relation to how much coverage they provide. That low premium is a good sign of the relative infrequency of loss contemplated by the insurance companies in underwriting the policies. However, just because everyone thinks it’s rare for a loss to occur doesn’t mean they don’t believe it will never occur.

You should also keep in mind that there might be some ways to save on insurance premiums by purchasing an umbrella policy. Because many insurance companies offer a multi-policy discount, you might find that it’ll defray the cost quite a bit. When I first started purchasing an umbrella policy, the discount I received from adding it to my existing home and auto policies with the same insurer almost covered the entire cost of the umbrella! Given its low cost and potentially great benefit, you should really invest in an umbrella policy.

 

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24. July 2018 14:50
by Ammelia
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Finding Cheap Full Coverage Car Insurance

24. July 2018 14:50 by Ammelia | 0 Comments

 

 Chances are you’ve heard about full coverage car insurance, but you might not be fully aware of what it actually covers or where you can find it. Here’s what you should know before deciding whether it’s right for you.

What is full coverage insurance?

Full coverage car insurance sounds great, but the term is a bit misleading. “Full coverage” generally refers to policies that include collision and comprehensive insurance — which actually cover very specific risks — in addition to liability insurance.

What does full coverage car insurance actually cover?

Many states mandate that drivers buy only a small amount of auto liability insurance. If you cause a crash, this coverage helps pay for the treatment of other people’s injuries and repairs to their property. But liability insurance won’t pay to repair your vehicle or cover incidents that don’t involve crashing into other vehicles or pedestrians. Collision and comprehensive insurance fill these gaps:

  • Collision coverage pays for repairs to your car if you cause a crash with another vehicle or run into an object, such as a tree or a telephone pole.
  • Comprehensive coverage pays to repair or replace your car if it’s stolen or damaged by a covered cause, such as an animal collision, weather, a falling object, fire or vandalism.
Find the cheapest car insurance for you

How much is full coverage car insurance?

Comprehensive and collision coverage give you much better insurance protection, but they also mean higher rates.

To get an idea of how much higher, NewLifeInsured sampled rates for liability-only policies and full coverage auto policies in three states: California, New Jersey, and Ohio.

Here’s what we found:

State Monthly premium (liability insurance only) Monthly premium (full coverage) Monthly cost to add full coverage
California $42 $90 $48
New Jersey $105 $156 $51
Ohio $30 $60 $30

 

The price of full coverage car insurance isn’t chump change:

  • Adding it raises Ohio car insurance rates by $362 per year — and that was the most affordable state we tested.
  • It raises New Jersey car insurance rates by $606.

But just one comprehensive or collision claim can make the cost worth it. Replacing a stolen car or repairing your vehicle after a crash could mean paying thousands of dollars out of your own pocket if you don’t have the right insurance.

States ranked for car insurance rates

We looked at rates across the country for drivers carrying full coverage plus uninsured and underinsured motorist insurance. 

National ranking (least to most expensive) State Average annual rate
1 Ohio $684
2 North Carolina $701
3 Maine $702
4 Indiana $734
5 Iowa $749
6 Idaho $773
7 Vermont $777
8 Wisconsin $816
9 North Dakota $833
10 Minnesota $835
11 Washington $856
12 Utah $864
13 Pennsylvania $866
14 South Dakota $891
15 Virginia $895
16 Montana $909
17 Nebraska $914
18 New Hampshire $919
19 Kansas $935
20 Tennessee $970
21 West Virginia $972
22 Illinois $991
23 Georgia $1,010
24 Massachusetts $1,013
25 Oregon $1,018
26 Arkansas $1,025
27 Maryland $1,030
28 Wyoming $1,032
29 Missouri $1,066
30 Hawaii $1,092
31 Arizona $1,128
32 New Mexico $1,154
33 South Carolina $1,155
34 Alabama $1,200
35 Colorado $1,206
36 Texas $1,207
37 Nevada $1,233
38 Alaska $1,245
39 New York $1,268
40 California $1,300
41 Connecticut $1,323
42 Mississippi $1,345
43 Rhode Island $1,386
44 Kentucky $1,434
45 District of Columbia $1,438
46 Oklahoma $1,462
47 New Jersey $1,517
48 Delaware $1,591
49 Florida $2,207
50 Michigan $2,375
51 Louisiana $2,409

Where to buy full coverage car insurance

Full coverage is commonly available from any auto insurance company. We looked at average prices from the four largest car insurers for a policy that includes liability, collision, comprehensive, uninsured motorist bodily injury coverage and other state-required coverages where needed. State Farm was the cheapest option, on average.

Who needs full coverage car insurance?

If you finance your vehicle, your lender might require you to buy full coverage. Aside from that, comprehensive and collision are optional, although some insurers don’t let you add one without the other.

Comprehensive and collision coverage are particularly sound investments if:

  • You have a new or expensive car.
  • You regularly commute in heavy traffic.
  • You live in a place with extreme weather, high car theft rates or a high risk of animal collisions.

However, the older your vehicle and the lower its value, the less benefit there is to have full coverage. Imagine it costs you $600 per year to add comprehensive and collision and you have a $1,000 deductible, which is the amount your insurer will subtract from a claim payment. If your car is worth only $2,000, the net value of a claim check would be $1,000 at most — so if you carry full coverage for more than a year, you won’t be able to get back more than what you paid. Checking your car’s current value at the National Automobile Dealers Association‘s website can help you decide whether full coverage makes sense.

Even with full coverage, there are other policy options you might need. For example, uninsured motorist protection, towing and labor service, and medical payments insurance all provide coverage that collision and comprehensive won’t.

How will various policy changes affect your rates? You can get insurance quotes using the NewLifeInsured tool and compare estimates to see for yourself.

 

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18. July 2018 19:02
by Jamie
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Term Life Vs. Whole Life: Which Insurance Is Right For You?

18. July 2018 19:02 by Jamie | 0 Comments


Build your life with love. Protect it with life insurance.

We work hard for the good things. The security. The comfort. The joy. The premium channels and the soft toilet paper. We work to buy houses, and we work to make sure they feel like homes for the people we love. We work to help things grow…our knowledge, our careers, our experiences, and our families.

From the Ground Up

The bigger and better things get, the more important it becomes to protect them. It’s easy to convince yourself, in the warm glow of a good life, that love is all you need. Love is a perfect foundation (and if you’ve ever bought a house, you know how important the foundation is), but without the walls you build upward and the roof above it all, it doesn’t offer much protection.

Every good decision you make contributes to the strength of those walls. The degree you earned. The career you’ve built. The money you invest. The relationships you’ve established. The tough questions you’ve asked, and the tough answers you’ve gritted your teeth and accepted.

These reinforcements are ultimately what hold things together when they might otherwise come crashing down, and insurance is your roof, extending to every edge to make sure you’re covered.

Life insurance means that nothing, not even the very worst thing, can blow that roof completely off. It means that your love, bolstered by careful planning, will always provide shelter, even after you’re gone.

Choosing a Blueprint

There are a lot of options to consider when you’re looking for the right insurance policy, and that’s why we’re here to help guide you. There are two main types of life insurance to consider, and that’s a good place to get started.

TERM LIFE INSURANCE

Term life policies might be the way to go if…

  • You’re looking for the most affordable life insurance rates
  • You’re not ready to commit to a lifetime policy
  • You want the simplest, most straightforward option
  • You’re in good health right now and have a relatively clear family medical history

This type of policy covers you for a finite period of time (usually 10, 20, or 30 years). Because of its temporary nature (and therefore the decreased likelihood that a payout will take place), premiums are generally much lower, especially if you’re young. Once the policy term is over, it’s over…just like car insurance, no matter how long you’ve been insured in the past, if you’re not insured at the time of an incident, it won’t help. So with term life, you’ll need to renew (usually at an increased rate as you grow older) or convert to a whole life plan at some point for continued coverage.

WHOLE LIFE INSURANCE

whole life policy may be the best route if…

  • You can afford a higher premium in your monthly budget
  • You like the idea of paying for coverage that you know will help your loved ones in the future
  • You love the idea of only having to shop for life insurance once
  • You’re in good health now, but may be at higher-than-average risk for future health concerns based on family medical history

These policies typically cost more up front, but the upside is that they provide lifetime coverage (so you don’t have to worry about shopping again) and typically offer level premiums, which can help you keep your monthly budget on track, especially when the kids start begging for the latest gaming system. Whole life insurance typically combines death benefits with cash value. In some cases, the policy owner can access this cash sum to use if they should need it…so while peace of mind and security for your family are still the primary motivation, you know that it doesn’t have to cost a fortune to get it.

Savvy Shopping

As you decide which option is right for you and your family, here are a few tips to help you keep costs as low as possible while still getting what you need:

  • Get multiple quotes from different providers to find the most competitive pricing. Whether you’re looking for the best term life insurance policy or you’re more interested in whole life insurance quotes.
  • Watch out for unnecessary riders. Riders are add-on provisions to the basic policy. Sometimes they’re things you might actually need, but sometimes they’re just things that sound good. 
  • Identify your specific needs and priorities. Life insurance, unlike your buttery soft leggings, isn’t one size fits all. If you’re on a tight budget, maybe you just need basic life insurance that will help to get your family through if you pass away sooner than you would hope. 

No Time Like RIGHT NOW

Here’s the best advice we can give: DON’T WAIT.

The younger you are, and healthier you are, the less your insurance will typically cost. And the sooner you work it into your budget, the more it will start to blend in with all your other important expenses, like electricity and lattes.

The real reason not to wait, though, might be sitting right next to you on the couch while you read this. Or sleeping upstairs on the top bunk. Or the bottom bunk. Life insurance gives you a chance to take care of the people you love for longer, and that’s worth an awful lot more than your monthly premium will be.

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13. July 2018 15:23
by Ammelia
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Making Home Warranty Comparisons

13. July 2018 15:23 by Ammelia | 0 Comments

Home warranties take the hassle out of home ownership and give you peace of mind by protecting your family from unexpected and costly bills when major systems or appliances fail. However, coverage options vary widely from provider to provider and choosing the right plan can be tricky. Here is a checklist that details what to look for in a home warranty and how you can choose the provider that's right for you.

Initial Considerations

  • Make a list of all your appliances and systems. Determine which ones are critical to your family's needs, are costly to repair or replace or are at risk of breaking down.
  • Home warranties are designed to fill in the gaps left by homeowners' insurance, but there is potential, however small, for some overlap. Also, some of your appliances may be covered under other warranties. Check and compare these policies so that you're not paying twice for the same coverage.

Coverage

  • Verify which home warranty providers offer coverage in your area. Then narrow your search based on your priorities. Some providers offer fixed plans that cover a list of appliances or systems, some specialize in only a few specific ones, while others offer the option to customize your home warranty benefits.
  • Understand the various levels of coverage. You may find that the advanced coverage offered by one provider is equivalent to the standard coverage offered by another.
  • Take note of the pre-conditions and limitations to any coverage under consideration. Many plans won't cover appliances or systems with pre-existing conditions or costs that arise from improper installation or maintenance.
  • Are you planning to sell your home? Ask if the home warranty is transferable.

Cost

  • Determine the annual cost and what's included. The cost of home warranties varies significantly depending on where you live, the kind of home you live in and what you choose to cover. Some plans include additional services, while others have a more scaled-down offering.
  • Ask about service fees or deductibles. Home warranties take care of much of the heavy lifting when it comes to repairing costs, but there still may be additional fees, such as one for each home visit if something breaks down. Compare any added costs.
  • Establish whether there are limits on the maximum amount a provider will pay for repairs.

Service

  • Easy access to a service network is one of the biggest home warranty benefits. With just one phone call, you can schedule a home visit for a wide range of maintenance issues. Investigate how many in-network contractors service your area and make sure there are a variety of specialties represented.
  • Inquire about the provider's screening process and selection criteria for their contractors.
  • With some companies, the service provider may be different from the company selling you the home warranty. Make sure you can find contact information for the company that will ultimately be servicing your warranty.
  • Ask about the provider's service level agreements, average response time and claims process. Many providers offer the convenient option of requesting service and filing a claim online, but it's also good to know that you can reach a representative when you need one. Compare the level of follow-up documentation each company may require.

Reputation

  • Check out consumer ratings and reviews to learn about other customers' experiences. You want to make sure you choose a reputable provider.
  • Peruse a company's social media and online presence to help confirm its legitimacy and level of consumer focus. Is this a company that places the customer first?
  • Verify that the home warranty providers you're considering are properly licensed if you reside in a state that requires it. These requirements vary by state.
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