Medicare is the primary medical insurance for people over 65-years-old. Medicare comes in two parts, part A and part B. Each part covers different types of medical expenses. However, they do not cover everything. That is why a lot of seniors purchase supplemental insurance to cover those other medical expenses. You should learn how these supplemental plans, like Medigap, work so that you can make the best decision for your needs.

Supplemental Medicare insurance like Medigap is sold by private insurers to people. These plans are specifically designed to work in conjunction with both parts of Medicare. Expenses like your deductible or your co-pays per visit are the types of expenses that Medicare supplements cover.

Usually, when you incur medical expenses, your Medicare coverage pays first. After it pays what it covers, then you are left with the expenses that are not covered. This is where Medigap comes in. Medigap goes over the remaining expenses and pays all of the eligible expenses. If there are still expenses left over that Medigap did not pay, then you will have to pay that yourself.

There are many types of Medigap policies that have different types of coverage. You should gather information on all of your options before you decide on which one to get.

As you shopping for supplemental insurance, remember that your vision care and dental care are not covered by Medicare or Medigap. You need to purchase separate insurance for that. Your private insurance company should be able to offer you different options for those areas.

You should try to project what kinds of medical needs you will have during your retirement years. This will give you an idea of what kind of supplemental coverage to get. Your spouse will need to get a policy as well because Medigap is an individual policy. Consult with your insurance company if you have any other questions.


Life Insurance Fundamentals

by Kura on August 1, 2013

There are few things better at safeguarding your family’s financial future than a sound life insurance policy. This type of insurance coverage is available in amounts ranging from quite modest to extremely substantial and is offered in a variety of policy types. The following information is meant to explain two of the most popular categories of life insurance.

First, let us talk a bit about term life insurance policies. This type of insurance coverage is good for a predetermined period of time, but not for the entire life of the policy holder. For instance, a 15-year term policy would provided coverage only for that specific time period, but no longer than that.

Term life coverage is also appealing to many because of its affordability. It allows policyholders to enjoy very substantial coverage for relatively low premium costs. The downside to this type of coverage is the fact that once the term ends, there is no asset or value remaining. Essentially, you will have paid premiums each month to keep the coverage in place for the duration of the term, but will walk away with nothing once that time period is up.  For the testing of this we looked for cheap life insurance at and got a significant savings on term life insurance from the best life insurance companies.

The second major life insurance classification we will discuss is that of the whole life policy. This type of coverage provides the same type of security of a term policy, except for the fact that it does produce cash value that can be utilized after the policy’s maturity date.

Some of the negatives associated with whole life policies are the high premium costs associated with them, as well as the comparatively low coverage amounts they provide. The fact remains, though, that the value these policies generate once they mature is sufficient to prompt many people to choose whole life coverage.

No matter what sort of life insurance product you prefer, it really does pay to consult with a seasoned insurance industry professional. These individuals will be able to assess your financial circumstances and your family’s needs to assist you in selecting just the right type of coverage. Going it alone when it comes time to buy life insurance is unwise, and something that you simply need not do.


Those aged 65 and older can rely on traditional Medicare Parts A and B to pay for a broad array of healthcare services and supplies, though by no means will everything be covered. For this reason, it may be wise for such individuals to purchase a supplemental insurance policy to pick up the slack. This type of policy, also referred to as Medigap coverage, is sold by private carriers and is intended to take care of payment for things that traditional Medicare does not include. Such expenses include co-pays, annual deductibles and coinsurance. Certain available Medigap policies also provide coverage for services that have no coverage whatsoever under traditional, original Medicare.

Supplemental Medicare policies are true to their name, in that they are intended as a supplement to the benefits received through Medicare itself. If an individual has both traditional Medicare as well as supplemental coverage, Medicare pays initially, and Medigap coverage will take care of whatever amount remains outstanding.

Generally speaking, the majority of supplemental policies exclude coverage for vision care, dental care, long-term care, hearing aids, glasses and private nursing services. Since federal rules do permit insurance carriers to develop new types of coverage options, there are Medigap insurers willing to provide dental, vision and other sorts of coverage. Therefore, it is always wise to ask about expanded coverage options when comparison shopping for Medigap plans.  While there are many places to shop for these plans we got the most help on medicare supplements from and the agents on their team.

To be eligible for Medigap coverage, an individual must be enrolled in both Parts A and B of traditional Medicare, and the supplemental policy must be specifically designated as such. Medicap policies are valid for individual subscribers only, making it necessary for married folks to purchase policies in their own names.

Medicare supplemental insurance policies can be extremely helpful to anyone already enrolled in traditional Parts A and B of Medicare. Of course, it always pays to research all available coverage options and carriers prior to making a selection. Doing so will help ensure that the Medigap coverage ultimately chosen suits the specific needs of the subscriber.


Saving Money on Term Life Insurance

by Kura on June 7, 2013


Term Life insurance is bought with a fixed rate of payment for a limited time. When the contract expires, so does the guarantee of coverage at the same rate. The purchaser must then decide to discontinue coverage or obtain it again. The terms and conditions are likely to change.

Term life insurance is generally purchased for replacement income needs. Claims against it are paid if premiums are up-to-date and the contract has not expired. It does not provide a return on  the premium if the contract expires.

A common version of term life insurance is annual renewable term (ART). The premium for this form pays for coverage for one year. Coverage is guaranteed to be renewable for a period of years. The period of years varies from 10 to 30. Premiums will increase with each renewal. At some point, a permanent policy becomes more economical. The cost of the annual renewable term policy is slightly higher than single year coverage.

Guaranteed level premium life insurance is the most common type of policy. The same premium is guaranteed for a given number of years. The longer the period of insurance, the higher the cost will be. An adjustment is made by the insurer that takes time value of money into account. Most level term programs allow insured individuals to renew policies after the original contract expires. A maximum guaranteed rate is offered if the renewal is necessary.


If you get very large premiums or have an existing medical condition you may want to try for a no medical exam life insurance policy.  These special policies work just like regular term life insurance except that there is no blood work taken.  You have to fill out the same questionnaire.  For some people they end up with lower premiums as a result of not having the lab work done.


The cheapest way to purchase a substantial death benefit is through the purchase of term life insurance. It is meant to cover financial responsibilities of the insured or the named beneficiaries. The money would be used for debt, dependent care, higher education, funeral arrangements and mortgage responsibilities. The death benefit is income tax free.

Most term life policies offer the option of converting the policy to a Universal Life or Whole Life Policy. This option is particularly beneficial to someone who has acquired a preferred rating class premium and is then diagnosed with a condition that would make qualifying for a policy difficult. This conversion option may be limited to a specific number of years or age of the insured.

Shopping Tips

Term life insurance is readily available, so shop around. One can find independent companies that rate an insurance company’s financial stability. These can be found online.

A guaranteed renewable policy is advisable. Question premiums that are considerably less than those offered by competitors. You may not be getting a fixed rate for the life of the term. Fixed rate policies are probably the best investment. Avoid policies that offer more insurance for certain manners of death. Regardless of the way a person dies, the amount of money needed is likely to be the same.


Absolutely Business InsuranceThere are SO many options when searching for term life insurance online.   It’s easy to get overwhelmed with the amount of information out there. In this article will show you how to find inexpensive term life insurance.

The first thing you’ll need to know is that every life insurance company will look at your risk differently. The key in finding the most affordable life insurance rate is to find a company that will look most favorably at your situation.

With this said, instant quote engines you see online won’t always be accurate.  Unfortunately there’s no way for a computer program to factor in all of your health issues.  However, if you don’t have any health issues than an instant life insurance quotes are a great tool. Just make sure you’re using an independent life insurance agency who offers you all the top-rated carriers.

If you have any health issues, you want to speak with a high risk life insurance specialist.  The worst thing you can do is call a life insurance call center agent who has no idea how to underwrite your risk. That’s a mistake most people make when buying life insurance because those call centers have the biggest marketing budgets and are the easiest found online.

Also when you do apply for life insurance, make sure you prepare for your medical exam. You may be the most active person you know with no health issues but if you don’t fast for eight hours prior to your exam and if you don’t drink enough water, your lab results can become skewed.  This is the most common reason why life insurance rates are increased with typically healthy people.

Don’t forget to let your agent know about any foreign travel, hazardous activities or even any family history of heart disease or cancer. These things are typically overlooked I most agents and is the second biggest reason why life insurance rates are increased.

So the bottom line is just use an independent life insurance agent who’s experience in underwriting your risk and they’ll make sure you secure the most affordable life insurance rates.


Medicare supplemental insurance policies are sold by private insurance companies to fill in some of the gaps in healthcare coverage that you will find in Medicare. They allow people to be nearly fully insured for their healthcare needs.

During open enrollment, your right to purchase a Medicare supplement policy is guaranteed, no matter your health condition or past medical history. Insurers cannot refuse to offer you a policy. You also cannot be asked to pay a higher premium because of insurance risks you may bring to the table. For example, a smoker will pay the same premiums as a non-smoker. There is no medical screening for applicants during the open enrollment.

If you miss the open enrollment, insurance providers can charge you a higher premium for pre-existing health conditions. They also can outright refuse to offer you insurance coverage at all if they choose to.

Open enrollment lasts for six months and it begins on the first day of the month in which you are 65 or older and enrolled in Medicare Part B.


Medigap Plan F Overview

by Kura on January 12, 2013

Senior citizens reaching age 65 become eligible to receive both traditional Medicare or Medicare Advantage if they so choose. For those persons who believe that their health care costs will exceed the amounts covered by Medicare, the option exists to elect for additional coverage through a Medicare Supplement or Medigap policy as it’s popularly called. It should be understood that Medigap policies are not a replacement for Medicare, but an additional policy that is purchased from private insurance companies to provide benefits not covered with traditional Medicare.

What Must a Person Do to Purchase a Medigap Policy?

If a person wants to purchase a Medigap policy, she/he can do so without having to pass underwriting so long as they purchase the plan at the time of their initial enrollment into Medicare. A person may elect to purchase a Medigap policy in subsequent years but will have to pass underwriting. Additionally, a person must also elect for traditional Medicare (Part B). No persons electing for Medicare Advantage are allowed to purchase a Medigap policy.

What Benefits Does a Medigap Policy Provide?

medicare supplement plan fThe answer to that is best described by explaining what is Medicare supplement Plan F, or Medigap Plan F. This is because Plan F is the most popular Medigap plan sold to senior citizens. Medigap Plan F covers the hospital coinsurance for treatment in a skilled nursing facility and many rehabilitation services. Plan F also covers the deductibles charged by Medicare Parts A & B. Any hospitalization of either 1 day up to sixty requires a deductible of $1,184 for the year 2013 to be paid for out of pocket by the Medicare recipient. Medigap Plan F covers that deductible. Plan F also covers the Medicare Part B deductible which is $147 per year. Most importantly, Plan F also covers what are termed “Medicare Part B excess charges”. What are those? Those are the charges a patient can incur when the doctor does not accept the amounts of reimbursement Medicare offers. With the looming Medicare cuts that Obamacare is imposing as a cost savings mechanism, this benefit of Plan F can be the a patient being able to afford vital treatment or going without it. Plan F also covers patients when they are travelling abroad. Traditional Medicare does not cover persons when travelling overseas.

What Does it Cost?

Medigap Plan F premiums range from $140 to $299 in the year 2013. However, the cost of the policy should always be compared to what medical costs are likely to be for a person without the additional coverage. Plan F’s popularity speaks for itself.