Over the past year, I’ve been enrolled in four different health insurance plans. Technically, I’ve been on four different health plans over a 7 month period of time. That’s a crazy number of plans to have been on during the year. I thought what I’d do is share with you some things I learned about […]
Health Insurance: The Definitive Guide [2019]
Health insurance plans pay for covered medical expenses that you might incur to treat medical conditions. Plan participants pay premiums and then file claims to receive benefits. Benefits are paid directly to the providers unless the insured paid for the expense and in that case, the insurance company would reimburse the insured according to the […]
The Complete Guide to Group Term Life Insurance
Group term life insurance is a life insurance contract that is purchased by a group. Most employees are covered under some form of group life insurance but many aren’t quite sure what they have or how it works. In this guide, I’ll walk through everything you need to know about group term life insurance. RESOURCE: […]
8 Reasons to Select a 24 Hour Accident Insurance Plan Design
Accident insurance plans pay employees cash in the event of covered accidents. When putting an accident insurance plan in place, one of the first options you’ll need to decide is if you’ll allow the accident plan to cover employees 24 hours a day or only cover them for off the job related accidents. RESOURCE: If […]
4 Types of Permanent Life Insurance
Permanent life insurance is life insurance that is designed to pay a death benefit when you die no matter how old you get. Some permanent life insurance is contractually guaranteed to last until you die while other permanent life insurance may or may not if you don’t manage it properly. Now that you know […]
11 Types of Term Life Insurance
What is Term Life Insurance? Term life insurance is an amount of life insurance that is good for a specific period of time – or “term”. If you die before the term expires, then the insurance company will pay your beneficiary when you die. If you die after your term life insurance expires, no death […]
How to Set Up Your Life Insurance Beneficiaries
I’ve talked with thousands of employees over the years about their beneficiaries. Many have some basic questions and others aren’t quite sure who to name as their beneficiary. In this article, I want to answer some of the questions I’ve gotten from employees over the years and talk about what you need to consider when […]
3 Reasons to Buy Life Insurance for Children (or Grandchildren)
During enrollments, employees are given the opportunity to buy group term and sometimes whole life insurance for their children and grandchildren. There are a lot of different opinions out there about whether you should buy life insurance for children or not. I thought I’d spend some time talking about three reasons you should buy life […]
How Do Pre-Existing Condition Limitations and Exclusions Work?
A pre-existing condition limitation period or an exclusion is a clause in an insurance contract that an insurance company uses to avoid paying for conditions you had before you were covered under a new policy. Since employees are often confused by how these clauses affect them, I wanted to talk about what pre-existing condition limitations […]
The Definitive Guide to Disability Income Insurance
Disability income insurance replaces a percentage of a person’s income in the event they are sick or hurt and can’t work because of it. It’s a fairly common workplace benefit offering. There are two types of disability income insurance. Those two types are: Short term disability income insurance Short term disability insurance provides a weekly […]
