Whole life insurance provides lifetime coverage along with a cash value savings component. This cash value can be accessed through withdrawals or policy loans while the insured is still living. But dipping into the available cash affects the other key policy value – the death benefit and face amount. Reducing cash value can shrink the … Read more
If you’re considering getting into the insurance industry, one of the first questions you probably have is – which license offers the highest earning potential? The insurance sector encompasses various lines of coverage, from auto and home to health and life. And different licenses are required to sell each type legally. But not all insurance … Read more
You get into a car accident and file a claim with your auto insurance company. As the claim process drags on, you start to get frustrated with how your insurer is handling things. Can you legally switch to a new insurance company mid-claim? Or are you stuck until the claim gets fully settled? The answer … Read more
If you have a Medicare Supplement (Medigap) policy and are moving, one key question is whether you need to also switch to a new Medigap plan. The good news is that in most cases, you can keep your same Medicare Supplement coverage when relocating. However, there are some important factors to consider regarding your Medigap … Read more
Loadings are extra charges added to insurance premiums to account for higher-than-expected risks. Loadings allow insurers to adjust pricing based on individual risk profiles. But how exactly do loadings work and when are they applied? What Is a Loading in Insurance? A loading is an additional premium charged to policyholders who are deemed higher risk … Read more
Medicare Part D provides prescription drug coverage for Medicare beneficiaries. While this coverage is optional, there are costs associated with enrolling in Part D plans. Understanding what you may have to pay can help you choose the right plan to fit your prescription needs and budget. Monthly Premiums Most Part D prescription drug plans charge … Read more
Long-term care (LTC) insurance helps pay for services like nursing home care, assisted living, and in-home care. Policies cover a portion of costs, but are not unlimited. LTC plans have defined benefit limits and maximums. Understanding key LTC policy benefit limits allows you to evaluate options and select appropriate coverage. This article provides an overview … Read more
When you visit a doctor or hospital that is in-network with your health insurance plan, you typically pay a set copayment or coinsurance amount for covered services. But sometimes patients get hit with unexpected higher bills from out-of-network providers, even at in-network facilities. This practice is known as “balance billing” and is illegal in many … Read more
Health insurance is commonly offered as an employee benefit by many companies. But in some cases, employees may want to opt out and decline coverage through their employer. So can you actually decline health insurance offered by your employer? The short answer is yes – employees can refuse employer health insurance coverage and waive participation … Read more
The LIC Tech Term Plan is a pure term insurance plan from Life Insurance Corporation of India (LIC) that provides financial protection to the policyholder’s family in case of his/her untimely death. It is one of the most affordable term plans in the market that offers comprehensive coverage at economical premiums. Like most term plans, … Read more