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Health Insurance FAQ's



I'm young and healthy. Why should I need health insurance?

Despite your age and health, you never know when a serious injury or illness will strike. You're not invincible. And if you don't have insurance, who'll pay your bills? Do you have the money to pay $1,500 to fix a broken leg or $3,000 to stay in the hospital? Insurance gives you the peace of mind that, yes, most of your medical bills will be covered in case something happens.



But what about government assistance programs? Won't they help me pay my bills?

There are assistance programs available to uninsured students but most have strict income guidelines that you must meet before becoming eligible for help. Some programs will only provide help for certain services.



If I get sick but don't have the money to pay, won't doctors and hospitals treat me?

Yes, most doctors and hospitals will treat you, but they will aggressively pursue collection of your unpaid medical bills by turning your account over to a collection agency. Yes, some hospitals write off a certain amount of care each year, called "indigent care," but if you or your family fail to meet strict requirements, they'll come after you to pay.Somebody will pay -- either you as a paying patient in the form of higher medical bills, or taxpayers.



What is a deductible?


A "deductible" is the amount of money you must pay toward a medical bill before the insurance company pays. For example, if you have a $20 deductible on a visit to the doctor's office, then you must pay $20 before the insurance begins to pay.



What does "co-payment" and "coinsurance" mean?

A "co-payment" is a specific out of pocket dollar amount which you must pay to a provider at the time of service. "Co-insurance" is a percentage of covered expenses which you must pay: such as your insurance will pay 80 percent of a bill, and you will pay 20 percent.



What does "usual, customary and reasonable" mean?

Those words refer to the charges and costs that are typical or standard for your region. Let's say that the usual, customary and reasonable fee, based on an accurate study of doctors' charges, for an anesthesiologist is $500. But he charges you $600, so your insurance will pay its percentage of the $500. You'll pay anything above that percentage of the $500, plus your deductible.



What are "exclusions" and "pre-existing conditions," and will my insurance policy cover them?

An exclusion is a service that your policy will not cover. A pre-existing condition is an illness, symptom, or diagnosis you had before you took out the policy. Some policies will never cover pre-existing conditions, while others will consider the condition after a waiting period.



Life Insurance FAQ's



Why Should you buy life insurance through us?

It's simple. We do the shopping so you don't have to. And we represent the best life insurance companies in the country. As an independent agency, we aren't tied to any single company's rates. We can match each client's needs with the company that's best suited to meet his or her individual situation. Because of these services, our clients are able to make the best choice for their financial security.



What is Term life insurance?

Term life insurance is life insurance coverage at a guaranteed rate for a specified period of time. (Example: 30 year level term would guarantee a level premium for 30 years based on a specified death benefit) Term life insurance is usually the least expensive form of life coverage.



What is Universal Life Insurance?

Universal life insurance is a flexible premium policy under which the policy owner may adjust the death benefit from time to time and vary the amount or timing of premium payments given specified limitations. Premiums are credited to a policy account from which mortality charges are deducted and to which interest is credited based on short term interest rates. This crediting usually allows some cash value build up in the policy.



What is Whole Life Insurance?

Whole life insurance is a permanent type of life insurance coverage that can provide lifetime protection at a level premium. Premiums must generally be paid as long as the policy is in force.
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