Health Insurance for Children Only

Parents understand better than most the importance of securing a quality health insurance plan for their children. Aside from visiting the doctor for routine well checks, there are ear infections, injuries and a whole host of reasons why children need quality medical care they can depend on. However, it’s expensive to add a child to a group plan and not all parents have the option of employer provided insurance. You’re not alone if you’re looking for affordable coverage for a child but you’re getting frustrated. Here are a few facts that may help you find the right plan you can trust.

Health Care Reform is Here

In the past, finding health insurance for children only was nearly impossible. When the Affordable Care Act passed in 2010, many reputable insurance providers stopped providing child only policies because it was too costly and not profitable. For parents, even if you found a plan, often it lacked essential coverage, making it a challenge to meet your child’s needs. With more provisions of Health Care Reform taking place this year, things are about to change.

Increased Access and More Benefits

On October 1, 2013, the Online Marketplace is set to open. State run “exchanges” will provide parents access to more choices in health insurance for children only. Plus, every plan that is offered through the Online Marketplace must include certain benefits. For child-only plans, that means you can expect every policy to include coverage for vision, and other essential pediatric services. This is a big deal for parents because in the past, plans for children only were limited, and if they did include extras, they were often too expensive.

Peace of Mind For Parents

Health insurance for children only shouldn’t be hard to secure and hopefully as final provisions of the Affordable Care Act are implemented, we will begin to see significant changes in the way parents find, compare and secure quality medical coverage for a child. After all, parents deserve a little peace of mind- at least when it comes to knowing their children can get the medical attention they need when they need it most.

Life Insurance With No Medical Exam

As we age our options for decent life insurance coverage seem to fade away. Some policies have contract details which can be confusing. What every person with a family needs to realize is the number of options that are waiting for a person like you to discover. It is true that most term, universal life and whole life policies require some type of medical check-up or exam. The thing to remember is that the word most does not mean all insurance policies require that medical check as a condition of getting coverage.

An insurance policy with no exam is a real possibility. Most of the requirements can be met on your own, often without leaving your home. Of course the premiums for shorter term coverage, due to a higher age at the date of purchase mean paying somewhat higher premiums. That does not mean you will not find a policy that is both right for your needs and one that you can afford.

Why should you consider the purchase of an insurance policy that can be obtained without the need for taking a medical exam? There are several good reasons.

- If your death would leave your family with debt or the inability to keep the place that they live, it is imperative you have some insurance coverage.

- If you have children that are still in school or will still have student loans to pay off, you should seriously consider the purchase of life insurance coverage.

-If you have a medical condition you fear will cause denial of a life insurance application, you still need to do some research to find out what type of policies are available to you.

Your benefits of taking out this type of insurance are the peace of mind you have, knowing your loved ones will not be burdened on your death with immediate expenses. You also will save time, money and energy by being able to apply and conclude the purchase of your policy right from the comfort of your own home.

You have several options to find this type of insurance. Your best option is online. If you are not exactly computer literate ask a family member to help you. Normally all you need to do is fill out some basic data then wait for a quote or a call from a company willing to offer you the type of insurance that you need.

Shopping For Whole Life Insurance

When you are shopping for life insurance, one of the first decisions you will need to make is whether you want to purchase term life or permanent life insurance. While both of these policies offer a death benefit to beneficiaries when the covered party passes away, there are significant differences you should know about before you commit to either type of policy. If you are not familiar with permanent plans like whole life, now is the time to learn how they work and who they are best suited for. Learn what you need to know before you start digging up whole life insurance quotes online. This way you can be an informed consumer and make the proper purchasing decision.

How Does Whole Life Work?

Whole life insurance is one of the most misunderstood life insurance products available on the market today., Whole life insurance is technically a life insurance policy with a built-in investment component. Rather than just paying for the cost of insurance, a portion of the premiums that you pay are deposited into a cash value account. Depending on the market, these cash values will earn interest over time.

One major difference between whole life and term insurance is that fact that whole life product will stay in force until the insured turns 100. Both the premiums and the death benefit will remain level over time, and the face value plus the cash value that has accumulated will be paid at age 100 or upon the insured’s death. The insured or the owner of the policy has the option to “borrow” against cash values or request a withdrawal at any time. This is why many say that whole life functions like a savings account.

Who Might Need Whole Life Insurance?

There are a variety of reasons why you should consider purchasing a whole life policy. While most of your financial obligations are temporary, you may have some permanent obligations you would like to cover. If your heirs will have to pay estate taxes on your estate, buying whole life to cover these taxes is ideal. Whole life is also perfect to cover burial costs or to pass on an inheritance to your family.

Whole life tends to have much higher premiums than term life because it is permanent and accumulates cash values. Many people choose to carry term policies with large face values and whole life policies with lower face values. It is best to shop rates with several different insurers and determine how much permanent insurance you really need before applying.

Who Needs Final Expense Insurance?

Final expense insurance is needed when it comes time to support a loved one’s death. Insurance is designed to relieve the shock of expensive bills. It is similar to a regular life insurance plan. When you go through a painful grieving process, feel secure in your life despite current finances.

If you choose final expense insurance, arrange a contract with a mortuary and trust the professionals to manage your death plans. The arrangements will be prepaid. Not all funerals are guaranteed to be covered. Review the different insurance policies, and make the right selection.

Funeral insurance is divided into term and whole life insurance policies. The term policy covers your situation for a certain period of time. The whole policy covers the rest of your life. A final expense policy usually specifies the ways you can use the funds. You and any beneficiary can use the funds for non-funeral expenses. When you list one or more beneficiaries, make sure that the person can be trusted.

Final expense insurance is designed for anyone concerned about funeral and burial costs. If you have severe debts and other issues, this policy is available. It is made for anyone regardless of age, background and health status.

Without proper life insurance, low-income people are likely to struggle with final expenses. The deceased’s spouse has to pay remaining debts. Without insurance, people fail to make payments and end up with ruined credit. They may have to sell properties and personal belongings. The funds of the deceased, if any, are used to pay off debts. Otherwise, the assets are sold, which leaves little to nothing for the heirs.

The average funeral costs thousands of dollars. This cost may seem minimal, but it is not affordable for everyone. Burial insurance is needed to get through this emotionally distressful time. The coverage amount varies from a few thousand to tens of thousands of dollars. The prices may increase for older people with bad health. Find the most suitable plan for your personal needs.

Shopping for Medigap Policies

Supplemental Medicare Insurance plans, also known as Medigap policies, are used to help defray some of the costs that are left after Medicare has paid their share. Medigap policies must all provide certain minimum coverage, so the main difference in many cases is price. Insurance companies that offer Medigap insurance plans are not obligated to issue you coverage except during certain times and in certain scenarios.

When shopping for Medigap plans, it is important to know which plan you want. Every type of Medigap plan is standardized by the federal government and given a letter from A through N. (Medigap Plan F is the most popular of the plans.) Not all insurance companies offer all of the plans, but any plan offered by an insurance company as Medicare supplemental insurance must have a letter and meet certain requirements.

Even though each plan is standardized, some companies charge more than others because Medigap plan pricing can be set in different ways. Some companies charge by the person’s age when they purchase a plan and others charge by the person’s age at the time of each billing, regardless of when the plan was first bought. Some companies offer a flat rate to everyone who buys that plan.

The easiest time to obtain your desired Medigap coverage is during the open enrollment period. During this time, insurance companies are obligated to sell you any plan that they offer in your area without regard to your health or age. Outside of open enrollment, insurance companies are allowed to use medical underwriting and may refuse to cover some people.

Open enrollment for Medigap policies is the first six months during which a person is both age 65 or older and enrolled in Medicare Part B. If a person enrolls in Medicare Part B immediately upon turning 65, the first six months of coverage is their open enrollment period. If a person enrolls in Medicare Part B at a later age, the first six months of Part B coverage is their open enrollment period.

Some states have stricter requirements than the federal government for some or all Medigap plans. For this reason and others, not all insurance companies are licensed to sell Medigap plans in every state. When comparing plan pricing, make sure that you are only comparing plans of the same letter from companies that serve your area.

3 Steps You Can Take To Start Improving Your Credit Score

Rebuilding a bad credit score can take years, but that does not mean there are not steps you can take today that will show some more immediate improvement on your credit score. Here are a few things you can get to work on right now:

Correct Errors

Many times when looking over a credit report, one will find errors on the report itself. This can be for many different reasons ranging from identity theft to something as simple as human error.

Your score is based on the report, so if there are errors in what has been reported, that can negatively impact your score.

In order to correct an error, you need to submit in writing details of the mistake, along with any corresponding documentation, to the credit bureau that has the error recorded on their report. The credit bureau in question then has 30 days to investigate and make a determination about the error.

Pay Down Your Outstanding Balances

Your credit utilization ratio (your current total credit balance versus your credit limit) makes up 30 percent of your credit score. A ratio that exceeds 30 percent is going to have a negative impact on your credit score. If you can, put money from savings or maybe a tax refund check directly down on your credit balances.

Automate Your Payments

Paying on time is a huge factor in calculating your credit score. If this has been a problem for you in the past, most creditors offer automated solutions for paying your bills. Put your credit cards, mortgage, car payments, and student loans on automatic payments. This will guarantee that you never miss a payment.

 

Home Buying Secrets Your Real Estate Agent is Never Going to Tell You

When you have made the decision to move from renter to homeowner, you are likely going to want to enlist the services of a real estate agent to assist you throughout the sometimes arduous process of purchasing a home. Buying a home is complicated, so there is no reason not to hire a licensed professional. You might feel like you need the extra assistance.

Real estate agents provide a valuable service and are generally well-paid. While there is nothing inherently wrong with that, money sometimes does have a way of corrupting relationships.

Here are a couple of tips to assist you in purchasing your first home and getting the most out of your relationship with your real estate agent.

1. The Agent Works for You

Many first time homebuyers are quick to capitulate to the guy with years of experience in the field and let them call the shots. Your real estate agent is your agent. They work for you. They are there to provide advice and to negotiate on your behalf, but should not be making decisions for you, nor should you expect them to.

2. Take All of the Time You Need

Your agent is likely to tell you that you need to move quickly and make a great offer when you finally do find the property you are looking for. Sometimes that is true on a hot property that just hit the market. Other times, it is not the best advice. Generally, as the buyer, you are in a position of strength in this transaction. You are not selling your home, so you do not have to move. You can seek out other properties and make more than one offer. You can start low and negotiate upwards. You can put a counter-offer on the shelf and look at other properties. The buyer is usually the one that needs to move quickly and is motivated to sell as soon as possible. Put that to your advantage.

3. Your Agent is Your Agent, Not Your Friend

While your agent does provide a valuable service in the real estate transaction, they really do not make any money until you actually buy a piece of property. They can invest a lot of time in a client before making a cent. They are a salesman, and like many good salesmen, they are going to want you to feel like they are your friend with your best interests at heart.

Truthfully, your interests and your agent’s interests might not be the same.

The agent benefits financially if you make a quick decision, even if you are paying too much for a property in that decision. Be sure that your agent understands that you are a customer, and you are relying on them to seek out and negotiate the best business deal for you.

4. The Listing Agent Might Be Your Friend

The seller enjoys the full benefit of any increase in the sales price. The agent on the other hand is only getting a very small amount of any increase in price. This means that they agent is often more motivated to sell than the actual seller. An extra week on the market, might bring in an increase in the sales price, but it is only going to be a marginal increase in the agent’s commission. Meanwhile, they could have used that extra week to show another home and get closer to their next sale. They may be very interested in convincing the seller that your offer is the best offer they are going to receive. Use this to your advantage.

5. Do Not Fall in Love

“If you have visited a few homes that did not feel like “the one”, you are likely to hear your real estate agent say something along the lines of, Do not get discouraged. You are eventually going to ‘fall in love’ with the right property,” says Jim Kelly, real estate agent, at BestDelawareHomes.net.

“Love can be costly for buyers,” he continues. “It can make buyers overlook costly repair items or a property that is overpriced in the market.”

You have to be willing to walk away from a bad deal, and being in love with a property can make that difficult. You want to like the property you choose. The love part can happen after you have moved in and put in the work to make the home your own.

Good luck in your house hunting.