FAQs
Life Insurance FAQs
What is term life insurance?
Term life insurance is the most affordable way to protect your family’s financial security if something happens to you. It replaces your income and helps ensure that the ones who depend on you can support themselves in your absence.
Who can buy term life insurance?
Most people between the ages of 18 and 80 can purchase term life insurance. It’s possible for cancer survivors, diabetics and individuals who take medications for cholesterol, blood pressure and other conditions to obtain coverage.
How does term life insurance work?
You can purchase term life insurance for 10, 15, 20 or 30 years. As long as you pay your premiums on time, your policy will remain active. If something happens to you while the policy is active, your beneficiary will receive a death benefit for the amount of the poli
Why are so many online quotes inaccurate?
Many instant online quotes are not accurate because they’re based on very little personal information. Your health history and a number of personal factors are utilized to produce more accurate quotes. This is why it is important to speak to a licensed professional. Different companies have different prices and also can specialize in favorable rates for different risks.
Medicare FAQs
I'm turning 65 this year and I plan to retire. When am I eligible to enroll into Medicare?
Assuming you have met the work-related eligibility requirements, you may begin enrollment into Medicare 90 days in advance of the month you turn 65.
Can my dependent spouse be on my Medicare plan?
Can I keep my employer coverage?
Maybe. If the employer group has 20 eligible employees or more, and you’re going to continue to work, then yes it’s an option. But there are many things to consider.
Do I need to enroll in Part “A” and Part “B” of Medicare?
Can I just have "Original Medicare" A+B as my health insurance at retirement?
Yes. However, you will not have prescription coverage and you will face unlimited exposure to those costs due to the gaps in Original Medicare.
Can I keep the same doctors when I'm on Medicare?
You usually can. It’s important to be sure your doctor accepts Medicare. Some don’t.
Does Medicare cover me if I'm in a nursing home?
Yes, for up to 100 days, after a required three-day hospital stay.
Does Medicare have dental plans?
No. But some Advantage plans offer limited dental coverage.
I am entitled to retiree benefits. Does that mean I won't need Medicare?
No, a retiree plan will typically wrap around Medicare primary benefits.
What is Part "D"?
Part “D” is the Prescription Drug plan Medicare introduced in 2006.
What happens if I miss my designated enrollment window into Medicare?
In addition to having a huge gap in coverage, you will likely face a penalty from Medicare. A Part “B” penalty can be 10% of your Part “B” premium for each 12-month period outside of Medicare, and up to 1% of the national average of a Part “D” plan for each month absent Part “D”.
What is Part "C" of the plan?
Part “C” is another name for Medicare Advantage. Also named MA, MSA, or MA-PD (when prescriptions are included).
Where do I go to get signed up for Medicare?
Online at SSA.gov or in person at a local Social Security office.
What is creditable coverage?
This is a Medicare term that establishes previous coverage being at least as good as Medicare’s. Typically is in play for Part “D” to avoid penalty.
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