Life & Health Insurance
Each of us has a different story, plan, or need.
Making sure you have the proper coverage should not be undervalued. Good coverage may make the difference between your family’s security and your family’s financial demise. Equally important is finding a trusted insurance professional that will look out for your best interest at every opportunity.
Think about these life situations and how planning today can provide peace of mind tomorrow.
Why Life Insurance is Important
Life insurance helps your loved ones or dependents pay the mortgage, bills, college costs, and take care of other financial responsibilities that are left after your death. It can also protect a business from financial loss, liabilities, or instability in the case of the death of a business owner or partner.
Debt can be a tremendous burden on top of the already emotional toll your absence creates in their life. Planning with life insurance can make things easier for those you leave behind.
Get Covered with Health Insurance
No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits.
Did you know that every health insurance plan must include the following:
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What Affects Life Insurance Rates
When looking for life insurance, you are probably curious to know how much it will cost you. In order to get a better idea of how much the coverage will be, you must know different factors that contribute to the price of life insurance.
Common Concerns Surrounding Life Insurance
When it comes to determining what type of life insurance an individual needs, most of the policyholders do not ask the correct questions. In order to clear up any of your concerns, here are a few life insurance questions you should ask when it is time for you to decide.
Qualifying Life Events and Your Healthcare Coverage
Unfortunately, life happens. Whether it may be a job loss, divorce, relocation, or diagnosis of a chronic illness, there are several life events that can impact your health coverage. While these events are daunting, there are options that can help you and your insurance needs.
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Contact Today
Brazelton Insurance Group provides insurance solutions to individuals, families, and businesses in Algonquin, Lake in the Hills, Carpentersville, Huntley, Dundee, Crystal Lake, Gilberts, Barrington and throughout the Chicagoland area.
Let the Brazelton Insurance Group show you what matters most! Contact us to get the coverage you need from a company you can trust.
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Frequently Asked Questions
What is a copay for health insurance?
Copay, or “copayment” is the payment which the consumer must pay when they go to a doctor, specialist, or other medical provider depending on the plan. This is a separate cost from the monthly premium and is not applied towards your deductible. In general, the higher the premium, the lower the copay. Conversely, lower premiums will typically have higher copays.
What is term life insurance?
Term life insurance provides protection for only a specified period of time–usually 10, 15, 20 or 30 years. There is no cash value associated with term life coverage, which is why premiums are often lower than other types of insurance. Some term life policies may offer greater flexibility such as premiums and the potential to convert to whole life insurance.
Who can take out a policy on my life?
Only someone who has an “insurable interest” can purchase an insurance policy on your life. That means a stranger cannot buy a policy to insure your life. People with an insurable interest generally include members of your immediate family. In some circumstances your employer or business partner might also have an insurable interest.
Insurable interest may also be proper for institutions or people who become your major creditors
Do I have to get my own health insurance when I turn 26?
Yes, under the Affordable Care Act you’re required to secure your own health insurance, unless you’re already covered under a Group Health employer plan. Young adults who will age out of their parents’ healthcare plans can enroll in their own plans within the 60-day window before they turn 26 or the 60-day window after their birthday.
How much life insurance should I consider purchasing?
It depends on your individual financial circumstances, but a good rule to follow is described by the word LIFE—Loans, Income Replacement, Funeral Expenses, Education. Breaking down each one of these letters should help you calculate your target for how much life insurance is needed today!
What's the difference between HMO and PPO plans?
HMO and PPO plans are similar in that there’s a network of doctors and hospitals who offer services at a discounted rate. The difference is that in a PPO plan you do not designate a primary doctor, and you can still receive insurance benefits from doctors and specialists outside of the network. In an HMO plan, the insurance will not help cover medical expenses that are outside of the network.
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Let the Brazelton Insurance Group show you what matters most! Contact us to get the coverage you need from a company you can trust.