Products
Health insurance comes in many forms. Here is a list of different types of health coverage, with brief explanations of each. These are all individual health policies, which means that you buy them on your own (not through work). These types of health coverage will be for yourself and your family.
Major Medical Health Insurance - Major Medical is designed to pay your doctors and hospitals when you are in need of healthcare. There is an annual deductible and a maximum out of pocket on these plans. Some have preventative care, doctor visits, emergency room coverage, and prescription coverage. These things all vary from plan to plan.
Short Term Medical Coverage – Short term health coverage is designed to cover you for a short period of time. Usually six months to twelve months. It doesn’t cover preventative care of pre-existing conditions. It is a great option for healthy individuals who are on COBRA benefits. The cost is usually much less.
Dental and Vision Coverage – Dental policies and vision policies come in two types. Medical dental and vision policies pay the doctors and medical facilities, and are available with your Major Medical health insurance coverage. Ancillary dental ands vision policies pay you, the customer; and they are available for purchase by themselves. Keep in mind though, there are exceptions to every rule.
Disability Insurance - Disability coverage comes in long term disability and short term disability, pertaining to the length of time that you will continue to receive payments when you are unable to work. And disability insurance is also the number one type of insurance that people want to have in place. You must have your income to survive. The disability coverage can be for when you are injured by an accident, or cover both accidents and sicknesses. This coverage is usually available through your employer; but once again, we have exceptions to every rule. And we can provide coverage for you.
Life Insurance - Whole life insurance is life coverage that you will have for the rest of your life. It builds cash value, can be borrowed against, or surrendered. Whole life insurance is usually used to cover things like final expenses and bequests to family members. Term life insurance is more inexpensive and covers you for a certain period of time, say 20 years, and then it’s done. There is no cash value, but some have return of premium. Term life insurance is usually used to cover things like mortgages, debts, and college educations.
Ancillary Products – Accident plans, Cancer plans, Critical Illness plans, and some dental and vision plans all fall into this category. These plans pay cash money directly to you – not the doctor or the hospital. They are extremely helpful in replacing lost income and making hard choices easier. High deductible health insurance plans are greatly complimented by ancillary plans.
Medicare Advantage – Medicare Advantage plans are Part C of Medicare. They cover everything that medicare covers and then some. You must have both part A and part B to be able to have a Medicare Advantage plan.
Medicare Supplements - Medicare supplements provide coverage in addition to what medicare covers. There are many different types with Plan F being the most popular because it covers everything that medicare doesn’t pay.
