tag:blogger.com,1999:blog-44290837740003099602023-11-15T22:57:48.878-08:00Insurance Broker - Insurance Company in Palo Alto | Insurance by Allied BrokersAllied Brokers is a full-service insurance brokerage. Founded in 1954, we provide insurance products throughout California and several other states.
Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.comBlogger327125tag:blogger.com,1999:blog-4429083774000309960.post-29436647038371306352021-09-27T01:54:00.003-07:002021-09-27T01:54:40.660-07:00What Are the Main Types of Auto Insurance Coverage?<p><a href="https://alliedbrokers.com/auto-insurance.html" target="_blank"><b></b></a></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPwfhl8hlcxC7XTeYIs2tjdGZrfngl_mcAXxe5i_HGjKFwXvSl1kM5K4Wb-MAc0-fSFs-8zKJIDvu7YpqC4vlcAfrLZEgF8bt8UH4lT4yyGT5PVAxoC3G_vdLb_orYabmwzg4xxedhjcF7/s400/Types+of+Auto+Insurance.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="Types of Auto Insurance Coverage" border="0" data-original-height="265" data-original-width="400" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPwfhl8hlcxC7XTeYIs2tjdGZrfngl_mcAXxe5i_HGjKFwXvSl1kM5K4Wb-MAc0-fSFs-8zKJIDvu7YpqC4vlcAfrLZEgF8bt8UH4lT4yyGT5PVAxoC3G_vdLb_orYabmwzg4xxedhjcF7/w400-h265/Types+of+Auto+Insurance.jpg" title="Types of Auto Insurance Coverage" width="400" /></a></b></div><b>Auto insurance</b> is mandatory in most states. Thus, it is important to know the different types of auto insurance before purchase. Good auto insurance provides financial protection in case of unexpected accidents. You will have to know your options to know which type of insurance works best for you. Here we discuss the main <a href="https://alliedbrokers.com/auto-insurance-types-california.html" target="_blank"><b>types of auto insurance</b></a> and the details involved in each. <p></p><h2 style="text-align: left;">1. Liability Insurance</h2><p><a href="https://alliedbrokers.com/commercial-general-liability-insurance-california.html" target="_blank">Liability insurance</a> covers the cost of injuries and property damage from a covered accident that is determined to be the result of your fault/negligence. Most of the U.S states have a minimum requirement for the amount of liability coverage for a person to drive the car but it is best to have liability insurance that exceeds this minimum limit. This protects you from paying a large amount of money because of the exceeded policy limit. </p><p>Liability insurance usually covers: </p><p>•<span style="white-space: pre;"> </span>The repair or replacement cost of the damaged property</p><p>•<span style="white-space: pre;"> </span>Medical bills due to hospitalization or treatment of the third party</p><h2 style="text-align: left;">2. Collision Coverage</h2><p>Collision coverage covers the cost of repairs to your car after it is involved in a covered accident. If the repair costs exceed the value of your car, then collision coverage will pay the current market value of the car. </p><p>The amount of collision coverage depends on the value and age of the vehicle. Collision coverage is usually recommended for a brand-new car or an expensive one while older cars can use low collision cover.</p><h2 style="text-align: left;">3. Personal Injury Coverage</h2><p>Personal injury protection covers the medical expenses of the driver along with the passengers involved in the accident. The <a href="https://alliedbrokers.com" target="_blank"><b>insurance company</b></a> will pay for the expenses regardless of who is at fault. </p><p>Personal injury protection insurance will also cover the expenses from the loss of income due to the covered accident. Depending on the policy limit, personal insurance coverage can cover up to 80% of the costs stemming from the accident. </p><h2 style="text-align: left;">4. Uninsured Motorist Protection</h2><p>Uninsured motorist protection comes in handy when you are involved in an accident that is caused by an uninsured vehicle. This will cover the costs for the repair or replacement of your vehicle especially when a third party’s insurance coverage is not sufficient to cover it. </p><p>With uninsured motorist protection, it is possible to overcome the cost of the repairs and medical bills easily. It is usually inexpensive to add underinsured insurance to the existing policy but make sure to check the amount of protection that it offers. </p><h2 style="text-align: left;">5. Comprehensive Coverage</h2><p>Comprehensive coverage offers protection from the costs that occur due to incidents other than collisions. These incidents might include vandalism, accidents involving animals, weather damage or theft. </p><p>The amount of coverage involved with comprehensive coverage depends on your need. Installing anti-theft devices or tracking devices can reduce the amount of comprehensive coverage needed by your vehicle. </p><h2 style="text-align: left;">Allied Brokers</h2><p>We at Allied Brokers have long-standing partnerships of 60 years and more with the most reputable insurers nationwide. To know more about the myriad of options available while purchasing auto insurance, visit us at https://alliedbrokers.com/auto-insurance-types-california.html</p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-40067654116546874352021-09-27T00:24:00.008-07:002021-09-27T01:24:29.352-07:00What Is the Best Age to Buy Long-Term Care Insurance?<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBSgOaZ_aZ8w-qUx-ITMqns9DVk_MK3MyjRuFXgEqGLvLFfTFrngWIAvHf2Y9rYydmYPMvl0KYpzyzi9-h4gLqVgzzwRGoQ8of-Z5jOuH35sRH_ScAUc_Wn5PzFO5peS1lZH2vUwkAZ2PQ/s400/Long+Term+Care+Insurance.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="Buy Long-Term Care Insurance in California" border="0" data-original-height="286" data-original-width="400" height="286" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBSgOaZ_aZ8w-qUx-ITMqns9DVk_MK3MyjRuFXgEqGLvLFfTFrngWIAvHf2Y9rYydmYPMvl0KYpzyzi9-h4gLqVgzzwRGoQ8of-Z5jOuH35sRH_ScAUc_Wn5PzFO5peS1lZH2vUwkAZ2PQ/w400-h286/Long+Term+Care+Insurance.jpg" title="What Is the Best Age to Buy Long-Term Care Insurance?" width="400" /></a></div>No one wants to spend their life’s savings on an expensive nursing homestay. <a href="https://alliedbrokers.com/long-term-care-insurance.html" target="_blank"><b>Long-term health insurance</b></a> is the best choice to cover the assisted living or in-home care costs after your retirement. Long-term health insurance is a topic that often gets emphasized on by insurance companies but most of us avoid it until it can’t be ignored. But long-term care insurance is cost-prohibitive and every minute of delay can be adding to your costs. Thus, it is in your best interest to consult your <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank"><b>health insurance broker</b></a> immediately and discuss the details involved in starting a long-term health insurance policy. <p></p><h2 style="text-align: left;">What Is the Best Age to Get Long-Term Health Insurance?</h2><p>If you know the prices involved in getting a private bed in a nursing home, then the importance of long-term health insurance becomes an irrefutable fact. The national median monthly cost for a private room in a nursing home is$8,821 and the fact that it keeps steadily increasing over the years is not helping. </p><p>Thus, long-term health insurance becomes an important part of every person’s retirement plan but what is the right time or age to get a long-term health insurance plan? This is the question that gets repeated often. </p><p>American Association for Long-Term Care Insurance reports that about 95% of the long-term care insurance claims are by people above the age of 70 with about 7 in 10 claims filed after the age of 81. On the surface, this might make sense since nursing home care is required at old age. But there is a catch - the premium amount that the 70-year-old has to pay the <b><a href="https://alliedbrokers.com/" target="_blank">insurance company</a> </b>would almost be double the amount that a 50-year-old long-term health insurer has to pay. Thus, choose wisely the age at which you start the long-term health insurance. </p><h2 style="text-align: left;">Factors That Influence the Right Age to Buy Long-Term Health Insurance</h2><p>Apart from the elevated premiums, few other factors might influence the age you choose to buy long-term insurance. </p><h3 style="text-align: left;">1. We Are Not Getting Any Younger</h3><p>As we age, our health condition changes (or to be more exact, deteriorates). Even with a healthy lifestyle, some inevitable changes happen making it difficult for us to live a comfortable life. </p><p>Long-term health insurance costs less when you are in good health. With every birthday after your 50s, the premium amount can go up by2-4%. Most insurance companies provide discounts for healthy people and the best part is that these discounts do not change when your health deteriorates later.</p><p>Thus, the smart choice would be to start long-term health insurance while you are in good shape. The health requirements for the discounts might change with different insurance companies and thus a consult with your health insurance broker might help you figure out the best plan for you. </p><h3 style="text-align: left;">2. It Might Be Now or Never</h3><p>Most people procrastinate buying long-term health insurance till they actually need it. But according to American Association for Long-Term Care Insurance, as the age increases the chances of the claim getting denied also increases. The data shows that about 14% of the people in their 50s were declined coverage and the denial percentage increased to 23% for 60-year-olds. </p><p>Instead of waiting and risking the decline in health care benefits, it is best to start long-term health insurance at the optimal age. The younger you are, the better are the odds of securing a good long-term care plan. </p><h3 style="text-align: left;">3. Consider Inflation</h3><p>People who buy long-term health insurance in their 50s pay premiums for more than two decades until they reap the benefits. But when you factor in inflation, the policy might lose its worth when it matures. </p><p>For example, consider a person buying a $200,000 policy in 2021 and paying premiums for over 20 years. If the long-term care costs undergo 3% inflation per year, then the maturing amount will not be enough to cover your costs. </p><p>The best way to overcome this inflation factor is to buy policies that come with inflation protection. These policies grow your money by adding compounds of a certain percentage or fixed amount every year. </p><h3 style="text-align: left;">The Bottom Line</h3><p>Long-term health insurance is important to pay for your long-term care needs and also protect your lifelong savings. Considering all the factors, it is recommended that you buy insurance before you reach the age of 60. This will ensure that your claim is not declined and you get a policy with the maximum benefits and discounts. </p><h2 style="text-align: left;">Allied Brokers</h2><p>Allied Brokers is an <a href="https://alliedbrokers.com/" target="_blank"><b>insurance company</b></a> that has been servicing California and several other states for over 60 years. If you are thinking of buying a long-term health insurance, our health <a href="https://alliedbrokers.com/" target="_blank"><b>insurance broker</b></a> can help you with the details. Get a free quote for long-term care insurance by filling out the form at https://alliedbrokers.com/phpbb/form2maillongterm.htm</p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-8346938679724941292021-08-25T21:17:00.007-07:002021-08-25T21:19:53.152-07:00What Is Preventive Care? Does My Health Insurance Cover the Cost?<h2 style="text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsS2YX1XKmYo7sEGMYdw9S6n5PWk0axlR5t8ck7Q5alBIvmkYy4ISCirKpTxbmpGfZbajdvnWXjO_qs8Xep2HKCSmdyHIDbLgmVqmkxQO-jVByarkZ9YkPgBDf_TCi6uzjimv5Qsm-fHfR/s1379/What+Is+Preventive+Care+Does+My+Health+Insurance+Cover+the+Cost.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="What Is Preventive Care?" border="0" data-original-height="900" data-original-width="1379" height="261" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsS2YX1XKmYo7sEGMYdw9S6n5PWk0axlR5t8ck7Q5alBIvmkYy4ISCirKpTxbmpGfZbajdvnWXjO_qs8Xep2HKCSmdyHIDbLgmVqmkxQO-jVByarkZ9YkPgBDf_TCi6uzjimv5Qsm-fHfR/w400-h261/What+Is+Preventive+Care+Does+My+Health+Insurance+Cover+the+Cost.jpg" title="What Is Preventive Care?" width="400" /></a></div></h2><p>Preventive care is a topic that is always present but is rarely discussed in detail. Hence, there is a lot of confusion surrounding preventive care - about what really counts as preventive care and what does not. Preventive care is often recommended for you by your doctor or by your insurance company. If you have any doubts about preventive care and whether your health insurance covers it, you can consult your <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank">health insurance broker</a>. But first, read through this article since we explain in simple terms what qualifies as preventive care and what doesn’t.</p><h2 style="text-align: left;">What Is Preventive Care?</h2><p>Preventive care covers all the services that prevent major medical conditions and diseases. This means preventive care will help you avoid getting sick with services like immunizations, screenings and regular check-ups. </p><p>People often confuse preventive care with diagnostic care but they are different. While preventive care is focused on general health, diagnostic care services look for something specific. Diagnostic care often comes after the doctors find something suspicious in the preventive tests or screening. For example, your routine cancer screening tests come under preventive care but the follow-up biopsy that checks for the specific cancer comes under diagnostic care. </p><h2 style="text-align: left;">What Services Come Under Preventive Care?</h2><p>The best thing about preventive care is that these services come free of cost. Most health plans are required to cover preventive care without the insurer spending a penny for the doctor or clinic and without needing to pay the deductible. You will just have to find a doctor who is covered by your plan. Here we list some of the preventive care services that you can avail without spending from your pocket.</p><p><b>1. Annual Check-Ups: </b>Your insurance covers annual check-ups that include physical examination along with miscellaneous health screenings for cholesterol, high BP and other such health conditions. This helps you find any medical condition early.</p><p><b>2. Flu Shots: </b>These include shots which will protect you from the risk of developing flu and even if you do get infected, the flu shot can fight it before it becomes serious.</p><p><b>3. Vaccinations for Both Adults and Children:</b> Vaccinations for children include chickenpox, measles, hepatitis A and B and will include boosters as needed. As for adults, there are Tdap boosters and immunizations against pneumococcal conjugate and shingles.</p><p><b>4. Cancer Screenings:</b> It is hard for cancer to show symptoms in the early stages and this is why it is important to get regular cancer screening done. When the cancer is identified at an early stage, it can be treated and at times even cured. For men, screening for the most recurrent cancers like prostate cancer and colon cancer is advised; for women breast cancer screening, cervical cancer screening, etc. are advised.</p><p>Some of the services that do not come under preventive care are specialist doctor visits, diagnostic tests, PSA blood test and such. The list of what’s included and what’s not in preventive care services differs for children, women and men. </p><h2 style="text-align: left;">Which Plans Cover Preventive Care Costs?</h2><p>Now that you know what exactly preventive care is, the next thing that you will have to do is find out whether your insurance plan covers the cost of preventive care services. </p><p>Since the implementation of <a href="https://alliedbrokers.blogspot.com/2021/05/affordable-care-act-what-you-should-know.html" target="_blank">Affordable Care Act</a> (ACA), preventive care has to be covered by every health insurance plan that is regulated by the act. Thus, your health plan would normally cover the cost of preventive care services unless your health plan is grandfathered.</p><p>Grandfathered health plans are the ones that were in existence till March 23, 2013 and have remained the same without many changes. These plans do not have to provide any benefits required by the Affordable Care Act. </p><p>Therefore, determine the type of health plan that you have to find out whether preventive care is covered. Consult your <a href="https://alliedbrokers.com/" target="_blank">insurance company</a> or your health insurance broker for clarifications. </p><h3 style="text-align: left;"><b>Allied Brokers</b></h3><p>We have been in the insurance industry for over 60+ years and thus our expertise can provide you with better benefits. Our health insurance broker can help you with the details and for this you just have to visit us at https://alliedbrokers.com/health-insurance-broker-near-me.html</p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-78288385688458236092021-08-17T05:24:00.007-07:002021-08-18T04:48:20.616-07:00Why Is Auto Insurance Important?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0obc-4ffXHwrbfjdOuGSzhYmJCB6oJGFFMxJAH0XaMAnm3Hny1Yx9hpdh5aWPEbvklFGAwj9Bq3JmSWrvvqywaijfZowPZ0dVgaWVZ1p4QiFzGCVw7dzmJqJadIvkIAQZSc1IRQJJrq8e/s400/Why+Is+Auto+Insurance+Important.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="Why Is Auto Insurance Important?" border="0" data-original-height="272" data-original-width="400" height="218" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0obc-4ffXHwrbfjdOuGSzhYmJCB6oJGFFMxJAH0XaMAnm3Hny1Yx9hpdh5aWPEbvklFGAwj9Bq3JmSWrvvqywaijfZowPZ0dVgaWVZ1p4QiFzGCVw7dzmJqJadIvkIAQZSc1IRQJJrq8e/w320-h218/Why+Is+Auto+Insurance+Important.jpg" title="Why Is Auto Insurance Important?" width="320" /></a></div>Getting a new car might be exciting for some and routine for others but let us tell you what is a necessity when buying a car - auto insurance. It is easy to ignore but auto insurance provides the necessary protection for your vehicle. Thanks to this, you won’t need to pay hundreds or even thousands of dollars when involved in an unexpected accident. If you don’t have it already, we would strongly recommend you contact a company that offers one. Searching online with the terms “<a href="https://www.blogger.com/#">auto insurance near me</a>” will present you with many options.<h2 style="text-align: left;">Importance of Auto Insurance</h2><p>While protection for your car is the most obvious reason to get auto insurance, there are also other reasons to get auto insurance immediately.</p><h3 style="text-align: left;">1. It’s Mandatory - In Case You Haven’t Heard</h3><p>In California, every vehicle that is being driven or even parked should have <a href="https://alliedbrokers.com/auto-insurance.html" target="_blank">auto insurance</a>. Driving without auto insurance can leave first time offenders with a fine of $100 or $150 but after that, there is also a chance of the court impounding your vehicle. So, if you are delaying buying car insurance, keep in mind that not having one is considered illegal.</p><h3 style="text-align: left;">2. Ditch the “Wouldn’t Happen to Me” Phrase</h3><p>Whenever we see an accident, we often react with–“It won’t happen to me.” But unexpected and unfortunate things happen and it is best to be prepared. Having an auto insurance with suitable coverage can save your wallet. Depending on your lifestyle, you can customize the <a href="https://alliedbrokers.com/auto-insurance-types-california.html" target="_blank">auto insurance policy</a> and your insurance agent can help with this. </p><h3 style="text-align: left;">3. Life Is Precious</h3><p>In every accident, there is an ignorant party and an innocent one. We share the road with all kinds of drivers and this makes having an auto insurance important. While making the <a href="https://alliedbrokers.com/get_auto_quote.html" target="_blank">car insurance quote</a>, make sure to add accident benefits coverage which will help in times of injuries. This can cover the treatment cost for your injuries and it can even help you cope if the accident prevents you from working for some time. </p><h3 style="text-align: left;">4. Accidents Aren’t the Only Enemies</h3><p>We often hear people say that they are confident about their driving and therefore do not need auto insurance. But you cannot be so confident when it comes to theft, vandalism and the like. Therefore, to cover the cost of damage to your car in case of such untoward events, it is important to have auto insurance.</p><p>There are numerous options when it comes to coverage offered by auto insurance and you can find one that will suit you and your family. When getting your car insurance quote, do consider all your options – be it comprehensive coverage or liability coverage - and customize the policy so that it offers what is best for you.</p><h4 style="text-align: left;">Allied Brokers</h4><p>You could do a Google search for “auto insurance near me” or you can do the smart thing and choose Allied Brokers. Allied Brokers has been in the insurance business for over 60+ years and our experience makes us a great option for you. To get a free quote call 1-888-505-7988 or check out your options at https://alliedbrokers.com/auto-insurance-types-california.html</p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-76751284081910017212021-07-16T02:01:00.000-07:002021-07-16T02:01:11.173-07:005 Facts You Should Know about Long-term Care Insurance<h1 style="text-align: left;">5 Facts You Should Know about Long-term Care Insurance</h1><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4l8pMnIiOaUCY9d44wYIZY-ZF-8gkimgf0vtGFix5pIrtmHrx1pdsyLcPDSLrLNBzBk21Gam5yhbbDEi_AMMHPUAPAo08nWw7-3cmAyfpwzsnXbvagZgCq3yEzMGRhzRsmkg-A5ciTO6O/s1726/dreamstime_xxl_200830872.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="5 Facts You Should Know about Long-term Care Insurance" border="0" data-original-height="900" data-original-width="1726" height="209" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4l8pMnIiOaUCY9d44wYIZY-ZF-8gkimgf0vtGFix5pIrtmHrx1pdsyLcPDSLrLNBzBk21Gam5yhbbDEi_AMMHPUAPAo08nWw7-3cmAyfpwzsnXbvagZgCq3yEzMGRhzRsmkg-A5ciTO6O/w400-h209/dreamstime_xxl_200830872.jpg" title="5 Facts You Should Know about Long-term Care Insurance" width="400" /></a></div>As humans, we are always urged to be prepared for the future. Be it attending an extra course or saving up for a future event, we feel strong when we are prepared for the imminent circumstances. We run through life non-stop, but what happens when we are slowed down, or worst not able to? Long-term care insurance provides the answer to this question since it can help you save a lot when it comes to long-term care. With California having the fastest growing age group of senior citizens, <b><a href="https://alliedbrokers.com/long-term-care-insurance.html" target="_blank">long-term care insurance in California</a> </b>is becoming a hot topic. Here are some facts that might help you to learn more about it.<p></p><h2 style="text-align: left;"><b>1. Most think that they do not need long-term care insurance – but in reality they do</b></h2><p>67.4% of all the new claims to long-term care insurance were started after the policyholder reached the age of 80.With the advancements in the medical industry, life expectancy has also increased. </p><p>When you live a long life, there is a greater possibility of getting sick, and you will be glad to have a backup plan like long-term care insurance. Also, statistics predict that 70% of all people above the age of 65 will require long-term care insurance at some part of their life. </p><h2 style="text-align: left;"><b>2. Long-term care insurance needs to started when you are healthy</b></h2><p>Most people do not like to think about getting sick or needing help for daily activities, and they simply ignore the topic. But as they age, the reality sets in, and then they scramble to get long-term care insurance. </p><p>But most people who try applying for long-term care insurance between 70 and 79 tend to get rejected. The premiums are also high when the insurance is started late. Thus, start one when you are healthy and have the confidence to get on with it.</p><h2 style="text-align: left;"><b>3. Long-term care insurance might help you in different ways</b></h2><p>While people imagine long-term care insurance, they usually picture nursing homes. This is because nursing homes are expensive, and thus it is projected first. But about 76% of people who receive long-term care insurance do not get it in nursing homes, instead of in their homes or community-based settings.</p><p>Long-term care insurance is needed for people who require help to perform daily activities like eating, bathing, or dressing. Though it might not be comfortable to think about these circumstances, know that long-term care insurance can help receive care at a setting that you are comfortable with. </p><p><br /></p><h3 style="text-align: center;"><b>Also Read:<a href="https://www.localbiznetwork.com/articles/what-is-long-term-care-insurance-and-who-needs-it" target="_blank"> What is Long-term Care Insurance and Who Needs It?</a></b></h3><p><br /></p><h2 style="text-align: left;">4. Long-term care insurance can save your relation with your loved ones</h2><p>Most people rely on their family members to take care of them at their old age. But providing care for a person who needs long-term care can be financially and emotionally stressful. This can create strain in the relationship in the long run. </p><p>Long-term care insurance can provide you with quality care without the guilt of tying down your family members. This is especially beneficial for people whose children live far away or have stressful jobs. </p><h2 style="text-align: left;"><b>5. Medicare usually does not cover long-term care</b></h2><p>People who have Medicare aid or even regular <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank"><b>health insurance</b></a> consider it enough. But these do not cover the long-term care if needed, and most stop at short periods up to 100 days in a facility. Thus long-term care can easily drain your lifetime savings even if you have <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html#medicare_supplement" target="_blank">Medicare</a> or health insurance. </p><h3 style="text-align: left;"><b>Allied Brokers</b></h3><p>Long-term care insurance is a sticky subject but one that needs acknowledgement. If you have any doubts regarding long-term care insurance in California, we are here to help. Give us a call at 1-888-505-7988 or check out our website at <a href="https://alliedbrokers.com/long-term-care-insurance.html">https://alliedbrokers.com/long-term-care-insurance.html</a></p><div><br /></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-39222705479709013762021-07-14T00:33:00.001-07:002021-07-16T02:13:30.757-07:00Why is Health Insurance Important?<h1 style="text-align: left;"><span>Why is Health Insurance Important?</span></h1><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiah5uTjgws30DBbcXam73YCR-_laaVdxCtE_unyRCOnYZvSUsRkrTP0aC93lwplW4qIGAv61RI0xBCEyfnBJ7dhQsCsvt0dbsnsGVgm88Fto-iOI5UZb3gkZG3tyDuuS8TVYr7AUuvGVTu/s1264/Why+is+Health+Insurance+Important.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="color: black;"><img alt="Why is health insurance important?" border="0" data-original-height="900" data-original-width="1264" height="285" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiah5uTjgws30DBbcXam73YCR-_laaVdxCtE_unyRCOnYZvSUsRkrTP0aC93lwplW4qIGAv61RI0xBCEyfnBJ7dhQsCsvt0dbsnsGVgm88Fto-iOI5UZb3gkZG3tyDuuS8TVYr7AUuvGVTu/w400-h285/Why+is+Health+Insurance+Important.jpg" title="Why is health insurance important?" width="400" /></span></a></div>Health insurance has been a highly talked about topic, but the pandemic has opened our eyes to the unpredictability of medical exigencies. This has now emphasized the importance of buying health insurance for people who don’t have it already. <p></p><p><span style="color: black;"><a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank"><span><b>Health insurance</b></span></a> is often considered to be an added protection that helps during times of emergencies. But now, health insurance has passed from the stage of being a luxury to being a vital part of everyone’s life. Here are some reasons why you should buy health insurance and the factors which make it crucial for today’s world. </span></p><h2 style="text-align: left;"><span>1. Lifestyle changes</span></h2><p>We are adapting to the fast-moving world and, in the process, exposed to lot of risk factors like stress, unhealthy eating habits, and sedentary lifestyle, which make us prone to diseases like diabetes, heart diseases, obesity, and cancer. Add with these sudden, unprecedented situations like COVID-19. </p><p>To protect ourselves from these diseases, we need timely care, and this is not cheap. Starting from regular checkups to the treatments that fight these illnesses can cost you a lot, especially when it involves <a href="https://www.localbiznetwork.com/articles/what-is-long-term-care-insurance-and-who-needs-it" target="_blank"><b>long-term care</b></a>. Having a good insurance plan will cover most of these costs, thus helping you recover without much worry.</p><h2 style="text-align: left;"><span>2. Inflation</span></h2><p>As the advent of diseases increases, the medical care cost also rises. You might be able to handle the costs of minor injuries and diseases out of your pocket, but when worst-case scenarios like serious injuries and illnesses come, it might be hard to bear on your own. </p><p>When you buy a quality health insurance plan and start saving early, you might not need to worry too much about inflation. Most health insurance plans cover a large part of your medical expenses, thus saving you at times of emergencies. </p><h2 style="text-align: left;"><span>3. Safeguarding your savings</span></h2><p>We all have that rainy day fund that we save for unexpected predicaments or family needs. While you might be accumulating this fund for a long time and might even have a plan for it, a severe medical emergency without health insurance can totally drain it and leave you at the start. </p><p>There are even health insurance plans that offer cashless treatments, thus letting you use your savings for other plans like buying a house or your kid’s college fund. Most health insurance plans also offer income tax benefits which add to your savings.</p><p><br /></p><h3 style="text-align: center;">Also Read: <a href="https://alliedbrokers.blogspot.com/2021/03/mandatory-health-insurance-for-californians.html" target="_blank"><span>Mandatory Health Insurance Policy for Californians - 2021</span></a></h3><div><br /></div><h2 style="text-align: left;"><span>4. Inadequate insurance cover by the employer</span></h2><p>One of the reasons why people usually refuse to get <a href="https://alliedbrokers.blogspot.com/2015/02/individual-and-family-health-insurance.html" target="_blank"><b>individual health plans</b></a> is because they believe that the health insurance offered by their employer would cover all the discrepancies. But in reality, these <span><a href="https://healthinsurancepolicycalifornia.wordpress.com/2021/06/29/what-is-group-health-insurance-what-are-the-benefits-of-group-health-insurance/" target="_blank"><b><span>group insurance plans</span></b></a> </span>mostly provide only basic coverage. </p><p>Some employer-offered health insurance covers only the illnesses or injuries related to work and do not cover the ones that run in the family. Some have a time and cost limit to which you can avail the benefits of the insurance plan. Thus it is important that you know the details of your employer-offered health insurance, and if not sufficient, make sure to go with a high coverage plan right away. </p><h2 style="text-align: left;"><b><span>5. Additional benefits</span></b></h2><p>When it comes to medical expenses for an illness, it does not stop with the cost for treatment but involves minor costs like ambulance bills, operating theatre costs, hospital room rent, and many others. Some health insurances cover these expenses and also for health checks and vaccinations. </p><p>Before you buy the health insurance plan, it is best to get the details on what it covers and does not. You can get the help of your health insurance agent to browse through different choices before you decide on the one. </p><h2 style="text-align: left;"><span>Allied Brokers</span></h2><p>There is no right age or time to <a href="http://www.alliedbrokers.com/phpbb/form2mailhealth.htm" target="_blank"><b><span>buy health insurance</span></b></a> plans. The sooner the better, and thus when you can afford it, make sure to start one. Choosing the right health insurance plan can offer financial security for you and your family. Know more about the options available here <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html">https://alliedbrokers.com/health-insurance-broker-near-me.html</a></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-66229783813931845282021-06-16T02:35:00.005-07:002021-06-16T02:42:11.837-07:00Delayed Care During Pandemic<h1 style="text-align: justify; text-justify: inter-ideograph;"><b><span lang="EN-US">Delayed Care During Pandemic - What you Should Know</span></b></h1><p><span style="text-align: justify;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBgOAzjoXcArWT_QCNoc159XE3_C_Fc0ZJuSz5cgqVG1JY8yDWPNI-sQBFwLbHvly8-2RhSSdnibOL4n9ZR9ZnhLFGMm2xkcBAchmZUO9aR_M3S0TXYYLIy2chXmDcbJZOOZiPiH1kb-7q/s1349/What+is+delayed+medical+care.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="What is Delayed Medical Care?" border="0" data-original-height="900" data-original-width="1349" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBgOAzjoXcArWT_QCNoc159XE3_C_Fc0ZJuSz5cgqVG1JY8yDWPNI-sQBFwLbHvly8-2RhSSdnibOL4n9ZR9ZnhLFGMm2xkcBAchmZUO9aR_M3S0TXYYLIy2chXmDcbJZOOZiPiH1kb-7q/w400-h266/What+is+delayed+medical+care.jpg" title="What is Delayed Medical Care?" width="400" /></a></div>Covid-19 has made us realize many things, but the importance of
universal access to affordable care has become the focal point. The disparities
that have become evident with the number of cases skyrocketing have opened our
eyes to the privilege offered by the <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" rel="nofollow" target="_blank"><b>health plans</b></a>.<p></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">But another topic that has captured the attention now is the danger
of postponed health care services. The experts are now urging people to focus
more on preventive care since it can lead to dire consequences.</span></p><h2 style="text-align: justify; text-justify: inter-ideograph;"><b><span lang="EN-US">What is delayed medical care?</span></b></h2>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">With the people staying at home due to pandemic safety concern,
numerous regular checkups and cancer screenings have been avoided or postponed.
This is now estimated to increase the morbidity and mortality of both the acute
and chronic diseases. </span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The fear of people contracting the virus during hospital visits is
one of the major reasons for the delaying or avoiding timely medical care.
Because of the concerns about COVID-19, about 41% of the adult U.S. citizens
delayed their medical care. By June 30, last year, 12% of people who require
emergency care and 32% of people requiring routine care also avoided their
treatments. </span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Delayed health care has been more prevalent among people with
disabilities, people with two or more underlying conditions, women, and people
of color. While some of the appointments are cancelled by health care providers
in favor of rerouting services to COVID-19 patients, most have voluntarily
dropped out in fear of encountering the virus. </span></p>
<h2 style="text-align: justify; text-justify: inter-ideograph;"><b><span lang="EN-US">Consequences of delayed health care</span></b></h2>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The delayed health care and routine checkups result in delayed
diagnosis of any health condition. Later the diagnosis is, more severe the
outcome becomes. Here are some statistics which show the steep drop in the
level of screenings in various health areas.</span></p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">• The newly diagnosed cardiovascular disease dropped about 30% last year from the pre-pandemic levels.</p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">• Diagnosis of diabetes was down about 40%</p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">• Colon cancer screening was down about 25%, and cervical cancer to about 15%. The National Cancer Institute expects about 10,000 preventable cancer deaths over the next decade owing to the pandemic-related delayed screenings.</p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US"></span></p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">• Paediatric visits were down to about 27% from pre-pandemic levels, and the vaccine doses also fell dramatically</p>
<h2 style="text-align: justify; text-justify: inter-ideograph;"><b><span lang="EN-US">Rise of Telehealth</span></b></h2>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Telehealth served to be the savior for most people, but there is a
limit to the care that can be provided from a screen. Telehealth cannot
accomplish what regular checkups and screenings do. Also, 90% of the total
telemedicine visits were audio-only visits.</span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Telehealth also faced disparities in its use, with the white respondents
frequenting it more than the people of color. This might be attributed to the
incongruity in the income, education, and access to health care of these
individuals. Language barrier was also one of the reasons for this discrepancy
in access to telehealth.</span></p>
<h3 style="text-align: justify; text-justify: inter-ideograph;"><b><span lang="EN-US">Before we go</span></b></h3>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">As per experts, the pandemic effect on healthcare will continue even
after COVID-19. Keeping health as the main focus, make sure to get vaccinated
and then attend your regular checkups. If you have any doubts about insurance
cover to these checkups or updating your insurance plan, our <a href="https://alliedbrokers.com/" rel="nofollow" target="_blank">insurance agent</a> can help you. With
over 60 years of expertise in the insurance field, we can offer you with the
best solutions.</span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-29801979101850360822021-06-16T01:58:00.006-07:002021-06-16T02:01:29.587-07:00Governor Newsom's 2021 May Revise Budget for Healthcare Industry <div><span style="font-family: Times New Roman, serif;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0DWj17OnrPfqfqHMzB-B-n8K7Teop8VGP847EJNN-IDoF97tVGl_QYAxu_SXYqEPhXMsLf1kmcR_0SiX7OgUSTqT4ScRIfX-DQ32unBM5V6EGRnukJhYUn5QA3plD0obFon10-9yvaSLR/s1350/May+Revise.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="May Revise budget for healthcare industry" border="0" data-original-height="900" data-original-width="1350" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0DWj17OnrPfqfqHMzB-B-n8K7Teop8VGP847EJNN-IDoF97tVGl_QYAxu_SXYqEPhXMsLf1kmcR_0SiX7OgUSTqT4ScRIfX-DQ32unBM5V6EGRnukJhYUn5QA3plD0obFon10-9yvaSLR/w400-h266/May+Revise.jpg" title="May Revise budget for healthcare industry" width="400" /></a></div></span><h2 style="text-align: left;"></h2><h2 style="text-align: left;">May Revise Budget for Healthcare Industry</h2><span style="font-family: Times New Roman, serif;">California Governor Gavin Newsom announced a $267 billion budget proposal dubbed as California Comeback Plan for 2021-2022 on May 14, 2021. This May Revise budget, which is $40 billion higher than the one proposed in January, is considered the biggest economic package in Californian history. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">With the pandemic and the resulting economic downturn, this budget was greatly anticipated, especially for the healthcare industry. With most criticising the January budget for being historic and without precedent, the economic outlook of the May Revise looks more positive than the ones received by its predecessor. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">Here is what you can expect for the healthcare industry from the May Revision of the 2021-2022 California budget. </span></div><h2 style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><b>1. Medi-Cal Expenditures</b></span></h2><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">Medi-Cal is the state’s medicaid program, and the Governor Newsom’s budget aims to strengthen the health system for everyone. In 2021-22, Medi-Cal is anticipated to cover approximately 14.5 million Californians, which is about one-third of the Californian population. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">But due to the pandemic and its economic impacts, the caseload is expected to increase about 6.6 percent compared to last year. Thus the may Revise has increased the Medi-Cal budget to $115.6 billion for 2020-21 and $123.8 billion for 2021-22.</span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">Key changes</span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">• The May Revise expands the Medi-Cal services for the individuals aged 60 and above effective from May 1, 2022. This move is estimated to cover over 89,000 undocumented adults. Currently eligible individuals under 26 years of age, regardless of their immigration status, are provided complete Medi-Cal benefits by the state. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">• As per May Revise, the community health workers (CHW) are included in the class of health workers who can provide Medi-Cal covered services effective January 1, 2022. CHWs work directly with families and individuals with cultural or language barriers and thus have difficulty understanding health care workers.</span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">• May Revise adds community-based Doula services as Medi-Cal benefit effective from January 1, 2022. Doula aims to reduce black infant and maternity mortality rates and in turn increase health equity for pregnant individuals and families. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">• Medi-Cal payment rates for audio-only telehealth are to be established and, in turn, continuing flexibilities available during the pandemic. Only the providers servicing recipients located in California or border communities and who can provide in-person services to each client served by audio-only telehealth are eligible to claim reimbursement for audio-only care. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">• A new federal option is to be pursued that allows the states to receive federal funding if they extend Medi-Cal eligibility from 60 days to 12 months for pregnancy-related and postpartum issues. This is effective from April 1, 2022 for up to 5 years. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><h3 style="line-height: normal; margin-bottom: 0.0001pt; text-align: center;"><b>Also Read: <a href="https://alliedbrokers.blogspot.com/2021/05/2021-2022-budget-of-opportunity.html" rel="nofollow" target="_blank">2021-2022 Budget of Opportunity and What It Means For the Healthcare Industry</a></b> </h3><p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 3;"><br /></p></span></div><h2 style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><b>2. Office of Health Care Affordability</b></span></h2><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">January’s proposal of the budget proposed an $11.2 million initial investment to create the office of Health Care Affordability, but this proposal is delayed for one year. Office of Health Care Affordability would have been responsible to contain health care costs and increasing transparency in medical services quality and cost. </span></div><h2 style="text-align: left;">3. Covered California</h2><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">The state reduced approximately $730 million from existing state affordability help in Covered California. This is one aspect of the May Revise that has greatly disappointed people who expected the state to reduce premiums and deductibles in Covered California. This move can increase the premiums of Covered <a href="https://alliedbrokers.com/" rel="nofollow" target="_blank"><b>California medical health insurance</b></a> plans if the federal assistance is not made permanent. </span></div><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;"><br /></span></div><h2 style="text-align: justify;"><span style="font-family: Times New Roman, serif;">Allied Brokers</span></h2><div style="text-align: justify;"><span style="font-family: Times New Roman, serif;">Unprecedented times call for immediate measures. The pandemic has demonstrated the importance of getting yourself and your family insured. If you have doubts regarding the <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" rel="nofollow" target="_blank"><b>best medical heath insurance</b></a> plan for you or an existing plan that needs an update, visit us at https://alliedbrokers.com/</span></div><div style="text-align: justify;"><br /></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0United States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-4429083774000309960.post-57140451662039266252021-05-19T00:44:00.003-07:002021-05-19T01:42:19.313-07:00Affordable Care Act - What You Should Know<h1 style="text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFw1V_69jOKmhYAlyBkLGC3qECc_eoVdCIO8_sjji1MbWOD4XEsmxo06V8rtjK-jrbI-Y5CtZmC-NXhqsBcvxw6qHaiga-FlKPvoSl6hYzZXMizRz5Ks79D5jTzkWghM6EOF76vRYLibTI/s1349/Affordable+Care+Act.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="What is the Affordable Care Act (ACT)?" border="0" data-original-height="900" data-original-width="1349" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFw1V_69jOKmhYAlyBkLGC3qECc_eoVdCIO8_sjji1MbWOD4XEsmxo06V8rtjK-jrbI-Y5CtZmC-NXhqsBcvxw6qHaiga-FlKPvoSl6hYzZXMizRz5Ks79D5jTzkWghM6EOF76vRYLibTI/w400-h266/Affordable+Care+Act.jpg" title="What is the Affordable Care Act (ACT)?" width="400" /></a></div>What is the Affordable Care Act (ACT)?</h1><p>Affordable Care Act, also popularly known as Obamacare, is a federal health reform legislation that was signed into law by President Obama on March 23, 2010. ACA was designed to address the barriers in the American health insurance system and aimed to provide access to affordable health insurance to all Americans. </p><p>ACA has been controversial from the beginning and has hit some stumbling blocks over the decade. Though ACA is a widely debated topic some people are still unclear about what it is and how it works. ACA has an effect on all our healthcare services, and thus it is important to understand the key points and the updates.</p><div><h2 style="text-align: left;"><b>How does ACA work?</b></h2><div>ACA was designed to expand coverage to all Americans, and some steps were implemented. </div><div><br /></div><div>• Healthcare costs were to be reduced by providing tax credits for households with income between 100% and 400% of the federal poverty line.</div><div><br /></div><div>• Expand Medicaid coverage to U.S. adults with income 138% below the poverty level.</div><div><br /></div><div>• Every ACA plan must to cover basic 10 healthcare services like prescription drugs, emergency services, laboratory services, etc with some offering additional benefits too.</div><div><br /></div><div>To get ACA coverage, there is an open enrollment period every year that begins at January 1. To apply for the <a href="https://alliedbrokers.blogspot.com/2020/12/overview-of-medical-health-insurance.html" target="_blank"><b>health insurance program</b></a>, visit Health Insurance Marketplace to learn about the plans available in your state or you can get the help of your insurance agent.</div><div><br /></div><div>The <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank"><b>health insurance plan</b></a> you are on can last for the full year but needs renewal during the next enrollment period. If you miss the deadline due to certain situations, you qualify for a Special Enrollment Period (SEP). This year due to the COVID-19, the SEP has been extended throughout this year till December 31, 2021.</div></div><div><br /></div><div><br /></div><div style="text-align: center;"><b><span style="color: #4c1130;">Also Read: <a href="https://alliedbrokers.blogspot.com/2021/04/what-you-need-to-know-about-enrollment.html" target="_blank">What you Need to Know about the Special Enrollment Period of 2021?</a> </span></b></div><div style="text-align: center;"><b><span style="color: #4c1130;"><br /></span></b></div><div><h2 style="text-align: left;">ACA and American Rescue Plan</h2><div><br /></div><div>On 23rd March 2021, ACA had its 11th year anniversary, and President Biden’s American Rescue Plan has made ACA more affordable. This update has come into effect starting from April 1, 2021. </div><div><br /></div><h2 style="text-align: left;">What’s changed?</h2><div><br /></div><div>• The income cap that has restricted people from qualifying for ACA tax credits to reduce the cost of monthly insurance premiums has been eliminated. This means that people with income above 400% of the federal income level can also get tax credits.</div><div><br /></div><div>• The maximum level of health care coverage that an individual has to pay is limited to 8.5% of his/her income. </div><div><br /></div><div>• Lower-income customers who have income between 100% and 400% of federal income level will be provided with boosted subsidies.</div><div><br /></div><div>• These new provisions are temporary and will not extend past 2022 unless Congress acts to extend it or make it permanent. </div><div><br /></div><h2 style="text-align: left;"><b>Allied Brokers</b></h2><div>With over 50 years of expertise in Bay Area, Health Insurance needs, our reputable insurance agents in Allied Brokers can help you with your queries and help you choose the best insurance plan. For more details, visit us at https://alliedbrokers.com/</div></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-56692122973122256512021-05-10T05:15:00.005-07:002021-05-10T05:16:44.225-07:002021-2022 Budget of Opportunity and What It Means for the Healthcare Industry<h2 style="text-align: left;">2021-2022 Budget of Opportunity</h2><div><p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: inherit;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-CZ698jGis5VjZKvviXpg8rVJSzV4L56M73nMaDGXGQA6LrkwA8c7cbaIv5sMxyqhWP1I1ZBnfgnjA43hiGjtvhNW6WlSD_rfekEyJXM80XF-kTxfQuDHyaUhLNacv1EyU4rtCuQXJKL4/s1350/2021+-+2022+Budget+of+Opportunity.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1350" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-CZ698jGis5VjZKvviXpg8rVJSzV4L56M73nMaDGXGQA6LrkwA8c7cbaIv5sMxyqhWP1I1ZBnfgnjA43hiGjtvhNW6WlSD_rfekEyJXM80XF-kTxfQuDHyaUhLNacv1EyU4rtCuQXJKL4/s320/2021+-+2022+Budget+of+Opportunity.jpg" width="320" /></a></span></div><span style="font-family: inherit;">The 2021-2022 Budget of Opportunity was
updated by the California State Assembly Democrats and a week before California
State Senate Democrats announced their Build Back Bolder budget outline. While
the budgets covered numerous areas, both were aligned when it comes to some
major initiatives related to the health care industry. Here are some pivotal
points which will help you understand the budget, the changes that will come
through in health care, and what that means for you.</span><p></p>
<h2 style="text-align: left;"><b><span lang="EN-US"><span style="font-family: inherit;">Budget of Opportunity and Health Care
Industry</span></span></b></h2>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">The key factors involved in both the
budgets are aimed to get the state closer to the main goal of universal health
care coverage for all its citizens. Starting with steps to close the remaining
gaps in the uninsured, the budget has plans which will help provide coverage
and care for all.</span></span></p>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">With the COVID-19 crisis at our hands, the
health proposals aim to provide urgent help for Californian families who
require it and people who were disproportionately affected by the crisis. </span></span></p><p class="MsoNormal"><span style="font-family: inherit;">Here
are some changes that are proposed in the budget that could mean some major
changes in the health care industry if included in Governor Newsom’s May revise
budget proposal 2021.</span></p>
<h2 style="text-align: left;"><b><span lang="EN-US"><span style="font-family: inherit;">Covered California</span></span></b></h2>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">Improving the affordability in Covered
California is one of the prioritized investments by the state Senate and
Assembly, which was not present in Governor Newsom’s January 2021 budget
proposal.</span></span></p>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">Though the American Rescue Plan proposed by
President Biden brought down the premiums for people who purchase their own
health cares, there are still many Californians who cannot afford the high
deductibles and out-of-pocket cost-sharing of the health plans. With the
redirecting of the affordability assistance which California invested in for
premiums two years ago, the deductibles and cost-sharing can be reduced, which
in turn, will attract more Californians to get <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html">medical
health insurance</a> coverage.</span></span></p><p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;"><br /></span></span></p><p class="MsoNormal" style="text-align: center;"><span lang="EN-US"><b>Also Read: </b><a href="https://alliedbrokers.blogspot.com/2021/04/what-you-need-to-know-about-enrollment.html" target="_blank">What you Need to Know about the Special Enrollment Period of 2021? </a></span></p><p class="MsoNormal" style="text-align: center;"><span lang="EN-US"><br /></span></p>
<h2 style="text-align: left;"><b><span lang="EN-US"><span style="font-family: inherit;">Medi-Cal Expansions</span></span></b></h2>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">The Medi-Cal expansion for more income-eligible
undocumented citizens was another proposal that is prioritized by both the
State and Assembly. This will help remove the unfair exclusions, and especially
with the pandemic, the time is now to provide Medi-Cal care to people
regardless of where they were born.</span></span></p>
<h2 style="text-align: left;"><b><span lang="EN-US"><span style="font-family: inherit;">Medi-Cal Assets Test</span></span></b></h2>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">The elimination of the Medi-Cal Assets test
is another point that has been highlighted by both the Senate and the Assembly.
This test is done to check the beneficiary assets but has long deprived seniors
of getting Medi-Cal care for having a small amount of savings. This particular
proposal will expand access for the seniors and disabled people to assess the
care despite having emergency funds or savings.</span></span></p>
<h3 style="text-align: left;"><b><span lang="EN-US"><span style="font-family: inherit;">Allied Brokers</span></span></b></h3>
<p class="MsoNormal"><span lang="EN-US"><span style="font-family: inherit;">We are a full-service <a href="https://alliedbrokers.com/" target="_blank"><b>insurance brokerage</b></a>
and have provided insurance services throughout California for over 60 years.
If you want to know more about medical
health insurance or car insurance, you can contact us at 650-328-1000</span></span></p><b style="text-align: center;"><span lang="EN-US"></span></b></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-86641726765750253652021-04-26T07:12:00.004-07:002021-04-26T23:38:53.179-07:00What You Need to Know about the Enrollment Period of 2021?<h1 style="height: 0px;"><span style="font-family: times;">What you Need to Know about the Special Enrollment Period of 2021? </span></h1><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><div><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;"></span></p><div class="separator" style="clear: both; text-align: center;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdcXVJIbUNM2DwcZYai2zZWo4R-uxxqBG6yIwSdsd_RSu9ZJfxiBlDNwP3FdhHotS2mYmyxkZ04hUsUjush7qWjKSqQe5NQ2RjIItL1dUGDD5bhNrXFe58_CPdBkoAYHsO3-BjUD2RTK-O/s1584/Special+Enrollment+Period.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="What You Need to Know about the Enrollment Period of 2021?" border="0" data-original-height="900" data-original-width="1584" height="228" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdcXVJIbUNM2DwcZYai2zZWo4R-uxxqBG6yIwSdsd_RSu9ZJfxiBlDNwP3FdhHotS2mYmyxkZ04hUsUjush7qWjKSqQe5NQ2RjIItL1dUGDD5bhNrXFe58_CPdBkoAYHsO3-BjUD2RTK-O/w400-h228/Special+Enrollment+Period.jpg" title="Special Enrollment Period" width="400" /></a></span></div><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">The open enrollment period under Covered California is the time that allows the
citizens to buy Affordable Care Act (ACA) health insurance. The usual open
enrollment period for California stretches for about three months starting from
November 1 to January 31. Due to COVID-19, the open enrollment period has been
extended through May 15, 2021. Read the article further to know the details and
what this special enrollment period means for you.</span><p></p><h2 style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="line-height: 115%;"><span style="font-family: times;">What Is the Open Enrollment Period?</span></span></h2>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">During the open enrollment period, any person can buy federal government–regulated
medical health insurance plans. These plans are often known as <a href="https://alliedbrokers.blogspot.com/2014/01/obamacare-private-public-hybrid-that.html" target="_blank"><b>Obamacare</b></a> or ACA
plans. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">When
you join these <a href="https://alliedbrokers.com/health_insurance.html#overview" target="_blank"><b>health insurance</b></a> plans in the open enrollment period, you will
benefit from getting it from the insurance companies at the same cost even if
you are suffering from pre-existing medical conditions. Also, the insurance
companies cannot reject anyone applying for the plans.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">The
open enrollment period ensures that people do not wait to get sick to consider
buying medical health insurance plans. This limited period pushes both the sick
and healthy to buy health insurance at the same time frame. The open enrollment
period can benefit:</span></p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"></p><ul><li><span style="font-family: times;">First-time health insurance buyers</span></li></ul><ul><li><span style="font-family: times;">People who want to change their insurance company</span></li></ul><ul><li><span style="font-family: times;">People who want to change their health insurance plan</span></li></ul><p></p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span><span lang="EN-US" style="font-family: times; line-height: 115%;"></span></span></p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18pt; text-justify: inter-ideograph;"><span style="font-family: times;"><br /></span></p>
<h2 style="text-align: justify; text-justify: inter-ideograph;"><span style="font-family: times;">Why Does California Get a Three-month Enrollment Period?</span></h2>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">California
has the longest open enrollment period thanks, to the state-run insurance
website. Most of the states depend oin the federal government's healthcare.gov
platform and thus do not have much control over things like local insurance,
signups, and deadlines. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">This
long enrollment period has greatly contributed to reducing the state's
uninsured rate. California has an uninsured rate of 7.2%, which is far less
than nearly half of the nation's averages 13.7%.</span></p><h2 style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="line-height: 115%;"><span style="font-family: times;">Why the Special Enrollment Period (SEP) of 2021?</span></span></h2>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span style="font-family: times; font-size: 12pt;">In the face of a pandemic, the premiums in California increased only by 0.8% between
2019 and2020. This has been the lowest chance since the launch of Coverer
California. Thus to encourage enrolments, President Biden signed an executive
order declaring the special enrollment period (SEP) starting from February 1 to
May 15, 2021, for the states served by federal marketplace.</span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><b><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Key
Factors of SEP<o:p></o:p></span></b></p><p class="MsoNormal" style="margin-left: 18pt; text-align: justify; text-justify: inter-ideograph;"></p><ul><li><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Any uninsured person or family can apply
for 2021 health insurance coverage with the help of SEP.</span></li></ul><ul><li><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">In SEP, you can apply for new health
plans but cannot apply for a change of existing plan. This is subjective of
state since many are debating on flexibility. It will be best if you get the
advice of your insurance broker for the condition in your state.</span></li></ul><p></p><p class="MsoNormal" style="margin-left: 18pt; text-align: justify; text-justify: inter-ideograph;"></p><ul><li><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Only qualified persons can get financial
help through Covered California</span></li></ul><ul><li><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">The plan comes into effect on the first of
the month when you enroll in the previous month.</span></li></ul><ul><li><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">For example, if you enroll by April 30,
the plan will be effective by May 1. If you enroll by May 15, then the effective
date will be June 1.</span></li></ul><p></p><p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
</p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18pt; text-justify: inter-ideograph;"><span style="font-family: times;"><!--[if !supportLists]--><span style="font-size: 12pt; line-height: 106%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span><b><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">Before
We Go</span></b></span></p>
<p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Insurance
by Allied Brokers is a full-service <a href="https://alliedbrokers.com/" target="_blank"><b>insurance brokerage</b></a> having experience of
50+ years in the industry. If you have any doubts about medical health
insurance plans or SEP, contact us at the toll-free number of 1-888-505-7988 or
visit us at https://alliedbrokers.com.<o:p></o:p></span></p><br /></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-24181522338851552672021-04-16T05:40:00.010-07:002021-04-16T05:52:50.768-07:006 Types of Car Insurance Available in California<h1 style="text-align: left;"><span style="font-family: times;">6 Types of Car Insurance Available in CA</span></h1><div><h2 style="text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjR9E3htPClXL9v5tu_oGre43tgWmH9hbibLX6UVpxPN0t02C2NT40JrLL3Qn7k-WdvsurmsT1_MjT32CCJp7S51WSLPS7B7DdSv1SSpguBYo0p5iDLN-wCcaHMj8HMAN-U1ftSStxnvaGq/s1341/6+Types+of+Car+Insurance.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: times;"><img border="0" data-original-height="900" data-original-width="1341" height="269" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjR9E3htPClXL9v5tu_oGre43tgWmH9hbibLX6UVpxPN0t02C2NT40JrLL3Qn7k-WdvsurmsT1_MjT32CCJp7S51WSLPS7B7DdSv1SSpguBYo0p5iDLN-wCcaHMj8HMAN-U1ftSStxnvaGq/w400-h269/6+Types+of+Car+Insurance.jpg" width="400" /></span></a></div><span style="font-family: times;">Types of car insurance you can get in California </span></h2><div><span style="font-family: times;">Getting into a car accident can be stressful, but being involved in it without <a href="https://alliedbrokers.com/auto_insurance.html" target="_blank">car insurance</a> can be a disaster. Even if you pledge to yourself to be careful at all times, it only takes one careless driver to wreck your vehicle or send your way a hefty medical bill. Having valid car insurance can save you all these worries. </span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;">In California, there are several <a href="https://alliedbrokers.com/auto_insurance_types.html" target="_blank">types of car insurance</a> available. Here we explain them in detail, and you can get the help of your insurance agent to select the best one, which in turn can save you even thousands of dollars.</span></div><h2 style="text-align: left;"><span style="font-family: times;">1. <span style="font-weight: normal;">Liability insurance </span></span></h2><div><span style="font-family: times;">This insurance covers you when you are in an accident that is determined to be caused by your actions. If you cause an accident in California without the minimum required <a href="https://alliedbrokers.blogspot.com/2016/05/do-you-need-professional-liability.html" target="_blank">liability insurance </a>coverage, then you will be faced with a fine and driver's license suspension of up to 4 years. There are two types of liability insurance.</span></div><div><ul style="text-align: left;"><li><span style="font-family: times;"><b>Bodily Injury Liability Insurance:</b> This pays for the medical expenses of the injured person involved in the accident that is likely your fault. This coverage can apply to you or anyone else whom you list as a driver in your policy. </span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;"><b>Property Damage Liability Insurance:</b> <span style="font-weight: normal;">This covers the repair cost of your vehicle or the other driver's vehicle involved in the accident that you caused.</span></span></li></ul></div><h2 style="text-align: left;"><span style="font-family: times;">2. Collision Coverage</span></h2><div><span style="font-family: times;">Collision coverage will pay for the repair of your car or the value of your car (lesser of two) after your vehicle gets involved in a covered car accident. </span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;">It might not mean much to have collision coverage for an old car but if you have a brand new car or a very expensive one then it is best to have collision coverage with limits that can replace your vehicle if a total loss occurs.</span></div><div><span style="font-family: times;"><br /></span></div><h3 style="text-align: center;"><span style="font-family: times;"><b>Also Read: </b><a href="https://alliedbrokers.blogspot.com/2020/03/Auto-Insurance-in-California.html" target="_blank">Legal Requirements of having Auto Insurance in California</a></span></h3><div><span style="font-family: times;"><br /></span></div><h2 style="text-align: left;"><span style="font-family: times;">3. Comprehensive Coverage</span></h2><div><span style="font-family: times;">Comprehensive coverage covers the loss that is caused by something other than collisions like theft of your car, fire damage, or damage by animals.</span></div><div><span style="font-family: times;"><br /></span></div><h2 style="text-align: left;"><span style="font-family: times;">4. Underinsured Motorist Coverage</span></h2><div><span style="font-family: times;">This insurance covers you when you get into an accident that is caused by a driver who doesn’t have sufficient insurance or no insurance at all. In California, there are about 14% uninsured drivers, which makes insurance essential.</span></div><h2 style="text-align: left;"><span style="font-family: times;">5. Personal Injury Protection Insurance</span></h2><div><span style="font-family: times;">This covers the medical bill payments for you or the passenger injured in your vehicle. This can also cover the funeral expenses if someone dies and also the lost wages in case the person is injured and has to rest for a long time. </span></div><h2 style="text-align: left;"><span style="font-family: times;">6. Gap Coverage</span></h2><div><span style="font-family: times;">Gap coverage often gets ignored but actually can save you thousands if you lease the car or have a brand new one. The value of the vehicle reduces with time, and gap insurance covers the difference value between the amount of vehicle loan you owe and the value of your car at the time of the collision. </span></div><h3 style="text-align: left;"><span style="font-family: times;">Allied Brokers</span></h3><div><span style="font-family: times;">We at Allied Brokers offer you the benefit of price and coverage comparison. The Allied Brokers insurance agent can help you select the best car insurance which would benefit you the most. To know more, visit us at allied brokers.com</span></div></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-90708214927163352272021-03-18T04:04:00.008-07:002021-03-18T04:28:47.852-07:00Why Do Kids Need Health Insurance?<h1 style="text-align: left;"><span style="font-family: times;">Why Do Kids Need Health Insurance?</span></h1><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPBFP6tTCCIoM0yWd6WYi1nWsM4-nb8fJ41xkC5ihNMZ8U0k_GysQsUli0w3VBwe7cpVeO0qADVkomBkGmn-IaOH1S0c_fJG4buGQ0NMVsT1YswYSbUfdB9I8fHb9Si-QFCfY5IaGEmXhi/s1349/Why+Do+Kids+Need+Health+Insurance.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: times;"><img alt="Why Do Kids Need Health Insurance" border="0" data-original-height="900" data-original-width="1349" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPBFP6tTCCIoM0yWd6WYi1nWsM4-nb8fJ41xkC5ihNMZ8U0k_GysQsUli0w3VBwe7cpVeO0qADVkomBkGmn-IaOH1S0c_fJG4buGQ0NMVsT1YswYSbUfdB9I8fHb9Si-QFCfY5IaGEmXhi/w400-h266/Why+Do+Kids+Need+Health+Insurance.jpg" title="Why Do Kids Need Health Insurance" width="400" /></span></a></div><span style="font-family: times;">The arrival of the new family member is one of the most joyous moments in one's life. In your role of a parent who is expecting a child or adopting one, you will start to get busy once he/she enters the scene. Thus, it might be a good choice for you to take some time to learn about the <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank"><b>health insurance</b></a> options for your child at the earliest. </span><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span><p></p><p></p><ul style="text-align: left;"><li><span style="font-family: times;">A child should have medical health insurance to get preventive health services like dental care and regular check-ups and get covered when he/she gets injured or sick. </span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">Children who have health insurance coverage are likely to receive early care for their health problems, which results in a lower risk of hospitalization when the situation escalates.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">Children with health insurance have a better chance of getting immunizations to prevent diseases and thus have an overall better quality of life.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">Though medical insurance can cover the costs at the crisis, the parents should be responsible for the child’s appropriate and timely care. Also, the families decide where and when the child gets formal care for the sickness or the injuries. </span></li></ul><p></p><div><div><span style="font-family: times;">The importance of child health insurance coverage has been emphasized for a long time, and it was not until 2015 a change was noted. By 2015, 95% of the U.S. children were insured, and the record was at 93% for Latino children.</span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><h3 style="text-align: center;"><b><span style="font-family: times;">Also Read: <a href="https://alliedbrokers.blogspot.com/2015/02/advantage-medicare.html" target="_blank">Advantage Medicare</a></span></b></h3><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><h2 style="text-align: left;"><b><span style="font-family: times;">Two methods of health insurance for your child</span></b></h2><div style="text-align: left;"><span style="font-family: times;">There are usually two methods by which you can get an insurance policy for your child.</span></div><div style="text-align: left;"><span style="font-family: times;"><br /></span></div><div style="text-align: left;"><h2 style="text-align: justify; text-justify: inter-ideograph;"><span style="font-family: times;">Family Health Insurance</span></h2></div><div style="text-align: left;"><ul style="text-align: left;"><li><span style="font-family: times;">Most times, parents who work get their family insurance covered by their employer. You should enroll your child on the existing plan by informing the relevant authorities at your workplace.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">If you have a private family insurance policy, then you will have to update the details of the child to your insurance agent so that you add them to the coverage offered by the plan. If you have <a href="https://alliedbrokers.blogspot.com/2015/02/individual-and-family-health-insurance.html" target="_blank"><b>family health insurance</b></a> through Covered California, then you can update the details in your Covered California account.</span></li></ul></div></div><div><h2 style="text-align: left;"><span style="font-family: times;"><br /><b>Child-only Health Insurance</b></span></h2><div><ul style="text-align: left;"><li><span style="font-family: times;">If your child does not get coverage in the family health insurance or you need a different insurance policy for your child, then you can choose the child-only health insurance policies. </span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">For free coverage, you can check out the children's Health Insurance Coverage (CHIP) or Medicaid programs. CHIP is a state-administered program and is funded by states and the federal government. CHIP focuses on children from low-income families. To check eligibility and get further details, contact your insurance agent.</span></li></ul></div></div><div><h2 style="text-align: left;"><b><span style="font-family: times;">Before we go</span></b></h2><div><span style="font-family: times;">Allied Brokers is a full-service <a href="https://alliedbrokers.com/" target="_blank"><b>insurance brokerage</b></a>, and we have helped people in California with insurance products since 1954. If you have any queries or need further details, feel free to contact the toll-free number 1-888-505-7988.</span></div></div></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-72872706874361703502021-03-16T05:00:00.007-07:002021-03-17T00:27:40.084-07:00Mandatory Health Insurance Policy for Californians - 2021<h1 style="text-align: left;"><span style="font-family: times;">Mandatory Health Insurance Policy for Californians - 2021</span></h1><p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: left;"><span style="font-family: times; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaBj2aNJHiqcX08n2fdkCdsPUwdkPl-XtmzebdfhPZb3a66K9uqf5LIuna_vypbxoMQTvjbymZ9WzXKbvxjvVJ7QqgpRweQnnQjYVijgJ0O-v1k-32ci0jNDgNfqhnJ54n8h6xGjUyQ6wB/s1349/Mandatory+Health+Insurance+Policy+for+Californians+-+2021.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="Mandatory Health Insurance Policy for Californians - 2021" border="0" data-original-height="900" data-original-width="1349" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaBj2aNJHiqcX08n2fdkCdsPUwdkPl-XtmzebdfhPZb3a66K9uqf5LIuna_vypbxoMQTvjbymZ9WzXKbvxjvVJ7QqgpRweQnnQjYVijgJ0O-v1k-32ci0jNDgNfqhnJ54n8h6xGjUyQ6wB/w320-h213/Mandatory+Health+Insurance+Policy+for+Californians+-+2021.jpg" title="Mandatory Health Insurance Policy for Californians" width="320" /></a></div>The individual mandate of California came into effect in
January 2020. This mandates the California state residents to get mandatory </span><a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" style="font-family: times; text-align: left;" target="_blank"><b>medical health insurance</b></a><span style="font-family: times; text-align: left;">,</span><b style="font-family: times; text-align: left;"> </b><span style="font-family: times; text-align: left;">failure of which will lead to
insurance penalty in 2021. Though the mandate came into effect last year, there
are still a surprising number of residents who are not aware of the state law
and what it means for them. Here we will help you with the details and features
of the law.</span></div><p></p><h2 style="text-align: left;"><b><span style="font-family: times;">California individual mandate 2020</span></b></h2><p></p><p class="MsoNormal" style="margin-left: 18pt;"></p><ul style="text-align: left;"><li><span style="font-family: times;">California implemented the state
individual mandate with effect from January 1, 2020. <span lang="EN-US" style="mso-ansi-language: EN-US;">It</span> instructed the state residents to
maintain a minimum essential coverage (MEC) which means that the residents and
their dependents should have mandatory health insurance coverage.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">Californians who fail to maintain this will be
subjected to a tax penalty that is similar to the former federal-level penalty.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">MEC refers to
the health insurance coverage that one must have so as to adhere to the
individual mandate as set out by the Affordable Care Act (ACA).</span></li></ul><div></div><p></p><h2 style="text-align: left;"><b><span style="font-family: times;">Mandate health insurance and Covered California</span></b></h2><p></p><p class="MsoNormal"><span style="font-family: times;">The federal Affordable Care Act (ACA), which came into
effect in 2014 needed the residents to maintain the MEC, but Congress reduced
the non-compliance penalty to $0.0 starting from 2019. As a result, the state
noticed a significant drop in the enrolment for insurance in Covered
California, which is the government agency that gives out subsidized Obamacare
plans for this state. Thus, by the individual mandate 2020 California aimed to
restore the number of insured individuals and families in its state. </span></p><div>
<p class="MsoNormal"><span style="font-family: times;">Covered California
offers the best <b>medical health insurance</b> premium
assistance for middle-income individuals who have an income range between 400%
and 600% in the Federal Property Level (FPL); California becomes the first
state to initiate this. In addition, families with a household income range
between 138 and400% of the FPL can get federal government assistance.</span></p><h2 style="text-align: left;"><b><span style="font-family: times;">Tax penalty 2021</span></b></h2>
<p class="MsoNormal"><span style="font-family: times;">People who missed the notice have been penalized in January
2021 for the first time since the mandate came into effect. When your W-2
document arrives, the insurance penalty will be added to it if you did not get
your insurance in 2020. There will be some exemptions when the income level of
households falls below the threshold of the state tax filing. </span></p>
<p class="MsoNormal"><span style="font-family: times;">The penalty is usually fetched in two ways in California. </span></p></div><div><p class="MsoNormal" style="margin-left: 18pt;"></p><ul style="text-align: left;"><li><span style="font-family: times;">First, in case of no insurance,
there will be a charge of an amount of $695 for adults and half of that for a
child. Otherwise, you will be charged with 2.5% of your income that is in
excess of the state filing threshold.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">The amount that is selected for
the penalty is the higher of the either. </span></li></ul><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><div style="text-align: center;"><span style="font-family: times;"><b>Also Read: <a href="https://alliedbrokers.blogspot.com/2021/02/health-insurance-plans-in-2021-for-you.html" target="_blank">Health Insurance Plans in 2021 for You and Your Family</a></b></span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br /></span></div><p></p>
</div><div><p class="MsoNormal"><b><span style="font-family: times;">What to do to stay clear of the insurance penalty<o:p></o:p></span></b></p><p class="MsoNormal" style="margin-left: 18pt;"></p><ul style="text-align: left;"><li><span style="font-family: times;">It will be best for you to get a
qualified health plan as soon as possible. This can reduce the penalty that is calculated every month.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">When the tax season is nearing,
collect your medical health insurance documents, and if your employer covers
your insurance obtain a statement that indicates it.</span></li></ul><ul style="text-align: left;"><li><span style="font-family: times;">There are few exemptions for the
California individual mandate. You can get an opinion from a tax professional
to know whether you will be eligible for the exemption. </span></li></ul><p></p><p class="MsoNormal">
</p><h3 style="text-align: left;"><b><span style="font-family: times;">Health insurance plan in Allied Brokers</span></b></h3></div><div><p class="MsoNormal"><span style="font-family: times;">Allied Brokers provides insurance products throughout
California and several other states. </span></p>
<p class="MsoNormal"><span style="font-family: times;">Affordable health plans for you and your family from Allied
Brokers can provide you excellent medical insurance for all your needs. </span></p>
<p class="MsoNormal"><span style="font-family: times;">To get expert help or suggestions about the topic, you can
reach us by filling our contact form or giving us a call at 1-888-505-7988</span></p></div><p></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0United States37.09024 -95.7128918.780006163821156 -130.869141 65.400473836178847 -60.556641tag:blogger.com,1999:blog-4429083774000309960.post-6975464075361154282021-02-24T01:38:00.008-08:002021-02-24T01:41:21.884-08:00Health Insurance Plans in 2021 for You and Your Family<h1 style="text-align: left;"><span style="font-family: times; text-align: justify;">Health Insurance Plans in 2021 for You and Your Family</span></h1><p><span style="font-family: times; font-size: 12pt; text-align: justify;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_vskplSS2B3xS3qbYy30jeHStVxD_jTwZUlM9m21Tern30gKtzXx1vcUH747Rv5zm1vuIziz07DHJsqq7xQCbAzFfIxB2I4UsH_a44cFM-TLELcYBSnpy95P0OzbEFNTg-VHrslH2Sr8E/s1350/Family+Health+Insurance+Plans.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: times;"><img alt="Family Health Insurance Plan in 2021" border="0" data-original-height="900" data-original-width="1350" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_vskplSS2B3xS3qbYy30jeHStVxD_jTwZUlM9m21Tern30gKtzXx1vcUH747Rv5zm1vuIziz07DHJsqq7xQCbAzFfIxB2I4UsH_a44cFM-TLELcYBSnpy95P0OzbEFNTg-VHrslH2Sr8E/w400-h266/Family+Health+Insurance+Plans.jpg" title="Family Health Insurance Plan in 2021" width="400" /></span></a></div><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;"><span style="font-size: 12pt;">Have you already secured yourself and your
family with a </span><b style="font-size: 12pt;">medical health insurance plan</b><span style="font-size: 12pt;"> in case of any
medical requirement crops up? If you are still thinking, it is time to act now!</span></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">An average household in
the US spends nearly $5,000 per person on health care and without a health
insurance plan, the medical bills may exhaust all the savings. To ensure the
health and financial security of your family, getting health insurance is the
right step because it is an important investment for the future. </span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">If you are seeking
individual or family <b><a href="https://www.alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank">medical health insurance</a> </b>before reaching the
age of 65, there are many excellent policies available. If all these options seem
confusing to you, consult an insurance brokerage firm that will help you get the
perfect policy for your needs. If you live in California, the following
statistics will give you an idea about the health care coverage status in the
state:<o:p></o:p></span></p>
<div align="center">
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td colspan="2" style="background: rgb(222, 234, 246); border: 1pt solid windowtext; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 377.75pt;" valign="top" width="504">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 13pt;">Medical Health Insurance Statistics in California
<o:p></o:p></span></b></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: 1pt solid windowtext; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 252.35pt;" valign="top" width="336">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">Total Residents in California
(approx.)<o:p></o:p></span></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 125.4pt;" valign="top" width="167">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">39,188,300<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="border-top: none; border: 1pt solid windowtext; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 252.35pt;" valign="top" width="336">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">Total Uninsured People in California<o:p></o:p></span></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 125.4pt;" valign="top" width="167">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">8%<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="border-top: none; border: 1pt solid windowtext; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 252.35pt;" valign="top" width="336">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">Total HMO Enrollment in California
(approx.)<o:p></o:p></span></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 125.4pt;" valign="top" width="167">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">21,414,030 plus<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="border-top: none; border: 1pt solid windowtext; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 252.35pt;" valign="top" width="336">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">Avg. yearly premium by employees
in California for employer-sponsored policy (post-employer contribution)<o:p></o:p></span></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 125.4pt;" valign="top" width="167">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">$1,146<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 5; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: 1pt solid windowtext; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 252.35pt;" valign="top" width="336">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">Avg. hospital cost in California
per inpatient (pre-insurance)<o:p></o:p></span></p>
</td>
<td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 125.4pt;" valign="top" width="167">
<p class="MsoNormal" style="line-height: normal; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: times; font-size: 12pt;">$3,340 plus<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>
</div>
<p class="MsoNormal"><span lang="EN-US" style="font-family: times; font-size: 4pt; line-height: 107%;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 107%;">As shown in the stats above, if you
fall in the uninsured (8 percent) category, it is not a safe situation for you
and your family. You can get <a href="https://alliedbrokers.blogspot.com/2011/01/significance-of-health-insurance.html" target="_blank">affordable health insurance</a> by comparing various
policies with the help of an insurance broker. You can find suitable individual
and family health insurance based on your needs and budget.<o:p></o:p></span></p>
<h2 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">Types
of Health Insurance You Can Buy</span></b></h2>
<h3 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 14pt; line-height: 107%;">1. Insurance Plans Under the
Affordable Care Act</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">You can get comprehensive medical health insurance coverage under
the Affordable Care Act (ACA), or even <a href="https://alliedbrokers.blogspot.com/2013/11/obamacare-101.html" target="_blank">Obamacare</a>. This insurance coverage will
financially protect you and your family against high medical expenses if you
face a medical emergency or if someone in the family has a chronic illness.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">The health insurance plans
under ACA provide benefits with a wide range of health care services. With
these services, you will get both inpatient and outpatient coverage, get
prescription drugs, can save money on regular doctor visits, hospital stays, preventative
care, and more. These health plans are available to nearly all the citizens and no
one can deny you treatment based on pre-existing conditions.<o:p></o:p></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 14pt; line-height: 107%;">2. Short-Term Health Plans<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">In case you could not get
an ACA health insurance plan or have missed the cut-off date, you may consider
a short-term health plan. Compared with ACA health plans, short-term health
insurance plans usually provide lesser coverage and do not help you save state
tax penalties. However, you can apply for short-term health plans throughout
the year and they will help you offset costs in case of a medical emergency,
not related to a pre-existing condition.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Typically, short-term health
plans do not fulfill the conditions of the ACA and may not cover all your
medical requirements. You need to go through the plan details thoroughly before
applying. Besides, if you buy short-term health insurance, you may not qualify for
other medical health insurance,
including COBRA and ACA health plans.<o:p></o:p></span></p>
<h3 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 14pt; line-height: 107%;">3. Medical Indemnity Plans</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><a href="https://alliedbrokers.blogspot.com/2021/01/what-is-medical-indemnity-insurance.html" target="_blank">Medical indemnity health</a> plans also have the
name fee-for-service health plans which pay the insured a fixed amount for a
visit to a doctor. For example, if you visit a doctor, the health plan will provide
you $50, irrespective of the bill for the actual visit.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">It is possible to combine medical indemnity
plans with other health insurance, and this can help you cover medical expenses
such as coinsurance and copays. You can also buy a medical indemnity health plan
as your main insurance or as part of an insurance package. However, these plans
usually do not cover pre-existing diseases and may have limits for benefits on
year, lifetime, and per-incident.<o:p></o:p></span></p>
<h2 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">Insurance
Plans Specifically for California</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 14pt; line-height: 115%;">Covered California<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Covered California is the official health care
plan for California, which was the first state to create its health insurance
under the Affordable Care Act (ACA). Currently, there are nearly 1.52 million
people enrolled in the Covered California health insurance plan.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Nearly 1.2 million out of the total enrolled
people qualify for federal subsidies. Covered California associates with almost
11 health insurance companies to provide affordable <b>medical health
insurance </b>to individuals, families, and small businesses. These
insurance policies are available depending on your region.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 14pt; line-height: 115%;">Insurance Programs by the Directory of Health Care Services
(DHCS)<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The Health Service's Directory of Health Care in
California has a budget of $126 billion for health care services and programs
in California for the upcoming fiscal year. DHCS supports important services,
which reinforce the state's pledge to improve the health and well-being of
Californian residents while functioning within its assigned budgetary
structure. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The highlights of DHCS comprise the effects of
the COVID-19 pandemic, raising health equity, funding for California
Advancing and Innovating Medi-Cal (CalAIM), access to behavioral health
programs in schools and more. <o:p></o:p></span></p>
<h3 style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: times; font-size: 14pt; line-height: 115%;">The Major Risk Health Insurance Program in California</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The Major Risk Medical Insurance Program
(MRMIP) in the state aims to provide health coverage for those residents of California
who could not get any health coverage on the marketplace?<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Californians eligible for the MRMIP program contribute
to the total expenses of the health coverage through premium payments to cover
the healthcare costs in MRMIP. <o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><br /></p><h2 style="line-height: 115%; text-align: center;"><span style="font-family: times;"><b>Also Read:</b><span style="text-align: left;"><b> <a href="https://alliedbrokers.blogspot.com/2011/01/individual-health-insurance-questions.html" target="_blank">Individual Health Insurance</a></b></span></span></h2><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><br /></span></p>
<h1 style="line-height: 115%; margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">The Average Health Insurance
Cost <o:p></o:p></span></b></h1>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The costs of individual health insurance vary
in the US depending on the state. On average, you may have to pay in the range of
$225 to $327 per month for one person. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The most economical individual health
insurance plan will depend on your household income and you may be eligible for
a subsidized program. Without subsidies, you may find plans for as low as a
$139 monthly premium for a single person.<o:p></o:p></span></p>
<h1 style="line-height: 115%; margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">Before We Go<o:p></o:p></span></b></h1>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">You can get a wide range of private medical health
insurance programs in California for yourself and your family. As a leading
brokerage firm in the state, we can help you get comprehensive health coverage
from top health insurance companies. You can explore various options before
deciding on a specific plan that is right for you.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">For more details on affordable health
insurance, contact us <span style="background: rgb(254, 253, 250);">at <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b> or fill out the </span></span><span lang="EN-US"><a href="http://www.alliedbrokers.com/phpbb/form2mailcontactus.htm"><span style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">online contact form</span></a></span><span class="MsoHyperlink"><span lang="EN-US" style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">,</span></span><span lang="EN-US" style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"> and we will take
things forward from there. </span></span><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><o:p></o:p></span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-87324488243488612332021-02-24T00:58:00.008-08:002021-02-24T01:01:05.021-08:00Things You Need to Know About Limited Pay Life Insurance<h1 style="text-align: left;"><b style="text-align: center;"><span lang="EN-US" style="font-family: times; font-size: 22pt;">Things You Need to Know About
Limited Pay Life Insurance</span></b></h1><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdU2UbOBacguc2l50cwpZTAgUzeT_DdCDqIYtnnDnaZmRDF9tjhQbKvUOWoKz0szgH3PcI7z3vNg0B-_iHCLMFo6AH9JIupk6oDPj7n88ECIWX6oasU4aVkaw4zvMwYSC6ll_G9S0UFHrs/s1350/Things+You+Need+to+Know+About+Limited+Pay+Life+Insurance.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: times;"><img alt="Things You Need to Know About Limited Pay Life Insurance" border="0" data-original-height="900" data-original-width="1350" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdU2UbOBacguc2l50cwpZTAgUzeT_DdCDqIYtnnDnaZmRDF9tjhQbKvUOWoKz0szgH3PcI7z3vNg0B-_iHCLMFo6AH9JIupk6oDPj7n88ECIWX6oasU4aVkaw4zvMwYSC6ll_G9S0UFHrs/w400-h266/Things+You+Need+to+Know+About+Limited+Pay+Life+Insurance.jpg" title="Things You Need to Know About Limited Pay Life Insurance" width="400" /></span></a></div><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Besides term life, whole
life, and <b><a href="https://alliedbrokers.blogspot.com/2015/04/benefits-of-universal-life-insurance.html" target="_blank">universal life insurance</a>,</b> there is another one named limited pay life
policy. This plan has a limited assured payment period compared to a
traditional whole life policy. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Typically, there are
various forms of life insurance programs available with different premium
payment requirements for a limited period. An <span style="mso-bidi-font-weight: normal;">insurance broker</span> can explain all the types of limited pay
insurance in detail.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;"><br /></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Despite the underlying variances,
all limited pay policies function based on the same principle. In this post, we
will discuss the definition, features, and eligibility of limited pay life
policies.<o:p></o:p></span></p>
<h2 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">Limited
Pay Life Insurance: More Insights</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Usually, an insured person
needs to pay premiums up to the age of 65, or for a period of10 years or 20
years for limited-pay life insurance. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Often some prospective consumers
interested in buying a life insurance plan may think of having a specific
number of payments than their age. For them, life insurance companies came up
with a limited pay life insurance with a shorter premium payment period than
the insured’s potential lifetime.</span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">You may often hear
an insurance broker or
insurance company talking about “short pay policies” which are another name for
limited pay insurance. Although there are various types of policies available with
a shorter payment period, the most known limited pay insurance programs are
below:<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"></p><ul><li><span style="font-family: times;">Paid-up at age 65whole life insurance</span></li><li><span style="font-family: times;">10 Pay whole life insurance</span></li><li><span style="font-family: times;">20 Pay whole life insurance</span></li></ul><p></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; line-height: 115%;"></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">You can figure out the
basic function from the names of the listed policies. A paid-up at 65 policy
requires the insured person to pay premiums until his/her age of 65. The uniqueness
of this policy is that the actual payable premiums will vary according to the
age of the insured person at the time of the policy issue.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">It means contrary to a 10 or
20 pay whole life policy where the insured will pay premiums for specific years,
a paid-up at 65 policy will have a different period for premium payment.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">In a 10 Pay whole life policy,
the insured needs to pay 10 premiums. After making the 10 payments, the policy will
have a guaranteed paid-up for the remaining years of the policy holder’s life.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Similarly, a 20 Pay life policy
goes by the same principle. The only difference is that the insured will have
to pay 20 premiums to reach the paid-up status.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Besides, a few other limited
pay life insurance policies allow the insured person to choose the exact number
of years for paying premiums. This is because these policies aim to meet the
unique needs of the insured in terms of the number of premiums. For example, a
limited pay policy may have 15or 9 premiums before reaching the assured paid-up
status. The insured can select the number of required years to pay the premiums
and will not be able to change it later. You can consult an <span style="mso-bidi-font-weight: normal;">insurance broker</span> for more clarity on
this matter.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;"><br /></span></p><h3 style="line-height: 115%; text-align: center;"><span lang="EN-US" style="font-family: times; font-size: large; line-height: 115%;">Also Read: <a href="https://alliedbrokers.blogspot.com/2018/06/life-insurance-questions-you-need-to.html" target="_blank">Life Insurance Questions You Need To Consider</a></span></h3><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;"><br /></span></p>
<h2 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">Features
of This Life Insurance Policy</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Due to the premium
payments for a shorter period for achieving an assured paid-up value, limited
pay life insurance carries the basic feature of a conventional whole life
insurance plan. Similar to a whole life plan, the insured is a limited pay
insurance policy needs to fulfill certain criteria to get the paid-up status.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Besides limited pay
insurance plans, a certain category of universal life insurance programs also
have similar features. These types of insurance policies offer an assured
benefit upon the death of the insured after paying the required premiums and
thus are called Guaranteed Universal Life Insurance or GUL.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Another crucial aspect is
that a limited pay insurance plan will require a larger amount of premiums, as
it requires fewer premium payments to reach the guaranteed and fully paid status.
If we assume that an a36-year-old individual wants to enroll in a whole life
policy worth $1 million, he needs to pay a little more than $12,000 every year.
<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">On the other hand, in the
case of a 10 Pay life insurance policy, to receive death benefits worth $1
million it would require the same 36-year-old person to pay more than $28,000
annually. Although the insured needs to pay more for a limited pay insurance
plan, there will be a guaranteed coverage after the specified number of
premiums. In a conventional whole life plan, a policyholder cannot achieve the fully
paid status before making payments up to the age of 65.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">Besides, a limited pay
life insurance policy accumulates cash value faster than a regular whole life
plan. This is because the insurance company collects larger premium amounts for
a limited-pay insurance plan. It means limited pay insurance plans provide a
higher cash value through their total rate of return against the paid premiums.<o:p></o:p></span></p>
<h2 style="text-align: left;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US" style="font-family: times;">Need
More Info? Give Us a Buzz!</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">If you are already
thinking about opting for a <a href="https://alliedbrokers.blogspot.com/2017/07/too-young-for-life-insurance.html" target="_blank"><b>life insurance policy</b></a> that requires a premium
payments for a specific period, a limited-pay insurance plan is ideal. To learn
more about it, an insurance broker can
walk you through all its features and outcomes. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">If achieving an assured and
fully paid status in a specific period is your main goal, a limited pay policy
will be ideal for you. Besides, such a life insurance policy works similar to
traditional whole life insurance when it comes to getting the cash value. You
can even withdraw cash or take out a loan against the accumulated value. Limited
pay insurance also comes with tax benefits.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-family: times; font-size: 12pt; line-height: 115%;">It would be ideal for you
to consult an <b style="mso-bidi-font-weight: normal;"><a href="https://alliedbrokers.com/" target="_blank">insurance broker</a></b> to
understand the benefits and suitability of various life insurance policies. As
a reputable and long-service insurance brokerage firm in California, we offer
our clients the best possible options to fulfill their long-term financial
security. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">Fill out this </span><span lang="EN-US"><a href="https://alliedbrokers.com/phpbb/form2maillife.htm"><span style="font-size: 12pt; line-height: 115%;"><b>online form</b></span></a> </span></span><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">to get a free insurance
quote, or call us at our toll-free number <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b>.We
would be more than happy to help you any time!</span><o:p></o:p></span></p><b style="text-align: center;"><span lang="EN-US" style="font-size: 22pt;"></span></b></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-82551690731334991152021-01-28T10:46:00.015-08:002021-01-28T22:47:13.757-08:00What is Medical Indemnity Insurance? <h1 style="text-align: left;"><span style="font-family: times; text-align: justify;">Medical Indemnity Insurance</span></h1><p style="text-align: justify;"><span style="font-family: times;">We have just stepped into 2021 and we are hoping for a fresh and better beginning in terms of health and finance. Like most people, you may also be wondering how long the aftermath of the pandemic will last. You may also be thinking about either buying new medical health insurance or adjusting the existing one and the amount of extra cash you will have to shell out. It is a fact that most insurers have already increased premiums and others will follow to make up for their increased costs.</span></p><p style="text-align: justify;"><span style="font-family: times;">Besides, from the pure health perspective, soaring costs of both pre-and post-hospitalization are prompting many people to choose between defined benefits plans and indemnity-based plans. Although defined benefit plans can meet such health expenses, indemnity-based plans have their benefits.</span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsbenKjmU1xplaWJ-E8Ng6vpLiumOYSwUOujb4eaNI0SgfzQF21hNonnRK5lJEN-D4vIViMKiSQqNWvNwxxU56W1B7i2QrP4LWuISQRguwaOYt8eajGiyFWKLa15fDw-ALa10OvdI6GEhl/s900/dreamstime_xxl_100859543.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: times;"><img alt="What is Medical Indemnity Insurance?" border="0" data-original-height="600" data-original-width="900" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsbenKjmU1xplaWJ-E8Ng6vpLiumOYSwUOujb4eaNI0SgfzQF21hNonnRK5lJEN-D4vIViMKiSQqNWvNwxxU56W1B7i2QrP4LWuISQRguwaOYt8eajGiyFWKLa15fDw-ALa10OvdI6GEhl/w400-h266/dreamstime_xxl_100859543.jpg" title="What is Medical Indemnity Insurance?" width="400" /></span></a></div><span style="font-family: times;"><br /><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></span><p></p>
<h2 style="margin-top: 0in;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" style="font-family: times;">The Basics of Indemnity Medical Insurance Plans</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">In an indemnity-based medical health insurance
plan, the concerned health insurance company reimburses the actual expense
incurred during hospitalization. The total cost of health expenses will depend
on the maximum amount insured under the policy and it requires the submission of
enough medical bills. In a medical indemnity insurance plan, you have the
flexibility of selecting your preferred doctor, clinic, or hospital and the <a href="https://alliedbrokers.com/">insurance provider</a>. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">An indemnity medical insurance is of two types:<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"></p><ul><li><span style="font-family: times;">Conventional medical indemnity plan</span></li><li><span style="font-family: times;">Fee-based plan</span></li><li><span style="font-family: times;">These plans protect people against high medical costs.</span></li></ul><p></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; line-height: 115%;"></span></p>
<h2 style="margin-top: 0in;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" style="font-family: times;">Benefits of Medical Indemnity Insurance Plans<o:p></o:p></span></b></h2>
<p class="MsoNormal"><span style="font-family: times;"><span style="font-size: 12pt; text-align: justify;">Indemnity </span><b style="font-size: 12pt; text-align: justify;"><a href="https://alliedbrokers.com/health-insurance-broker-near-me.html">medical health
insurance</a> </b><span style="font-size: 12pt; text-align: justify;">policies are significantly different compared to IPAs, HMOs
and PPOs with managed care, which may require you to select a primary healthcare
provider. Let us assume that an indemnity-based plan has an insured sum of
$500,000. If an individual undergoes a hernia surgery that costs $200,000, the
insurance company will reimburse the actual incurred cost after receiving the
bill. The balance amount will remain in the policy for any future medical
needs. Indemnity health insurance does not cover any pre-and
post-hospitalization expenses, which can be a downside.</span></span></p>
<h2 style="margin-top: 0in;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" style="font-family: times;">Decide the Suitability of an Indemnity Medical Insurance
Based on These Features</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Indemnity medical health insurance<b style="mso-bidi-font-weight: normal;"> </b>policies can be beneficial for you if
the factors mentioned below are crucial to you:<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"></p><ul><li><span style="font-family: times;">You want the flexibility of choosing your own doctor. </span></li><li><span style="font-family: times;">You are fine with incurring slightly higher costs for your <a href="https://alliedbrokers.blogspot.com/2011/01/significance-of-health-insurance.html" target="_blank">health insurance</a>. </span></li><li><span style="font-family: times;">You are okay with the costs for physicians and consultants, which may go beyond the UCR (usual, customary or reasonable) amount. Keep in mind that your preferences may affect your medical costs.</span></li><li><span style="font-family: times;">You live in a geographic area where access to your preferred doctors and medical services would not be part of a PPO or HMO plan.</span></li></ul><p></p>
<h2 style="margin-top: 0in;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" style="font-family: times;">Costs of Indemnity Medical Health Insurance Policies</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">An indemnity insurance policy pays a part of the
treatment cost under your preferred service provider but has its deductibles.
In such plans, the deductible may be between $100 for an individual and $500
for families on average. It varies from one insurance company to another. After
paying the deductible, the policy will incur the remaining medical expenses up
to the maximum threshold specified in the agreement. Indemnity plans may also come
with co-insurance and co-pay clauses.<o:p></o:p></span></p>
<h2 style="margin-top: 0in;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" style="font-family: times;">Four Crucial Areas of an Indemnity Medical Plan</span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">In case you are considering buying an indemnity
medical health insurance plan, it is worth remembering the following facts:<b style="mso-bidi-font-weight: normal;"><o:p></o:p></b></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: times; font-size: 14pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">1. The UCR
Rate<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The UCR rate is something the health insurance
provider in your region will charge for their services. It is because indemnity
insurance plans have no network with specific rates that providers charge and
are mainly self-managed health plans.Compare the cost that your indemnity
health plan states as UCR with the cost of your preferred service provider
before buying.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: times; font-size: 14pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">2. Costs<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The costs of indemnity plans involve co-payment
and deductible amount to get the policy benefits. After paying the deductible, a
co-payment may be required, which is a portion of the outstanding charges after
the deductible. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">There are indemnity health plans, which also
set the highest threshold amount, which you need to bear as co-insurance. The
benefit of indemnity plans is that once they reach the highest threshold
amount, you do not have to pay the co-insurance anymore.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: times; font-size: 14pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">3. No
Restriction due to Geographic Regions<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">In an indemnity medical health insurance plan,
you have the freedom of selecting your physician or hospital. On some occasions,
PPO and HMO may limit these available options by geographic regions or by the areas
where the service provider operates. Indemnity medical insurance plans do not
have such restrictions. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: times; font-size: 14pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">4.
Preventative Health Care Feature<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Some of the indemnity medical health insurance
policies may not give you preventative care coverage, whereas others will
provide the same. Preventative healthcare services may include annual medical
check-ups and medical examinations to shield against illnesses. <o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: medium;"><span style="line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><b> Also Read: </b></span><span style="text-align: left;"><b><a href="https://alliedbrokers.blogspot.com/2020/12/overview-of-medical-health-insurance.html" target="_blank">Overview Of Medical Health Insurance Programs In California</a></b></span></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></p>
<h2 style="margin-top: 0in;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" style="font-family: times;">Before We Go</span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: times; font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Before
buying a health insurance, make sure you consult an insurance broker to get
details on all the benefits of an indemnity medical health insurance plan,
including the expected compensation. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">A
reputable insurance brokerage firm like us can help you obtain the best health
care plan, which will provide excellent benefits to you and your family. If you
live in California, connect with us to buy comprehensive and <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html">affordable
health insurance</a>. Give us a call <span style="background: rgb(254, 253, 250);">at <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b> or fill out the <a href="http://www.alliedbrokers.com/phpbb/form2mailcontactus.htm">online contact
form</a><span class="MsoHyperlink">,</span> and we will get things rolling! </span></span><o:p></o:p></span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-64821789360672397852021-01-28T10:17:00.007-08:002021-01-28T22:52:21.104-08:00US Insurance Industry Outlook 2021 - 2022<h1 style="line-height: 115%; text-align: justify;"><span style="font-family: times;">Insurance Industry Outlook</span></h1><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">The COVID-19 pandemic has forced
most sectors to make significant structural changes and the insurance industry
is one of them. Due to layoffs, salary cuts, and shutdowns, many people have
curbed optional expenses, which has made the industry even more competitive for
insurance companies<b style="mso-bidi-font-weight: normal;">, <a href="https://alliedbrokers.com/" target="_blank">insurance brokers</a></b>
and agents.<o:p></o:p></span></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"></span></p><div class="separator" style="clear: both; text-align: center;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3q3lRU0Mzzge7rMipozTOi0UpaFwaR_MMfM8pCIGOSMP-CHSUSLSGPdqP8zDxngx9OmYhVNLgtAuXpimdI_-zLLN28-b4V9AEN5VIG5qv2x5NDhmwfFzWxE_WTOYwdj7HqA-WktgeyZXC/s900/dreamstime_xxl_176229045.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="US Insurance Industry Outlook 2021 - 2022" border="0" data-original-height="564" data-original-width="900" height="251" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3q3lRU0Mzzge7rMipozTOi0UpaFwaR_MMfM8pCIGOSMP-CHSUSLSGPdqP8zDxngx9OmYhVNLgtAuXpimdI_-zLLN28-b4V9AEN5VIG5qv2x5NDhmwfFzWxE_WTOYwdj7HqA-WktgeyZXC/w400-h251/dreamstime_xxl_176229045.jpg" title="US Insurance Industry Outlook 2021 - 2022" width="400" /></a></span></div><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;"><br /></span></span><p></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">The after-effects of the pandemic
will continue to hit the insurance and other industries hard. For example, workers’
compensation insurance sales has gone down because of huge job losses. A global
outlook survey by Deloitte on premium projection shows that the volume may get
back to pre-pandemic levels only after the fourth quarter of 2022. Small business
premiums which took the brunt due to shutdowns and bankruptcies, may recover
even slower if more businesses continue to close down.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">During the same Deloitte
survey, 48 percent out of 200 participating insurance executives admitted that the
pandemic has shown the unpreparedness of the industry to weather an economic
turmoil like this. Merely 25 percent strongly agreed that their insurance carrier
has a clear strategy and action plan to overcome the current situation. <o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">If you are considering
buying insurance in 2021, this information will help you decide on the right
time to make a move. Besides, it would be ideal to consult a reputable insurance broker to learn about a range
of options.<o:p></o:p></span></span></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">The Decline in Life and Annuity Sales, Interest
Rate Drop<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">According to forecasts, total
life insurance premiums may recover to pre-pandemic levels in 2021.Life
insurance premiums may dip by 6 percent globally and by 8 percent in developed
economies. The projected recovery growth is likely to be 3 percent throughout
2021. Emerging markets may once again show the way, whereas mature markets will
continue to struggle.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">The annuity sales already
took a hit in 2020. In the US, most annuities have dropped by double-digits in
the second quarter of 2020, except for index-linked products. Growth and
profitability for non-term life insurance products and annuities will continue
to go through a slump in 2021 and beyond due to low-interest rates. The US
Federal Reserve has already indicated it may leave rates close to zero at least
until 2023.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">The current scenario will keep
posing challenges for insurers with exposure to less-liquid and lower-rated
investment-grade securities. Similarly, for annuities, lower interest rates may
prompt reduced benefits, which will make them less saleable.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">Meanwhile, life insurers
may witness 50 percent more losses related to mortgage loans than The Great
Recession. You can check with an insurance broker to learn how
these changes may affect your existing insurance or the one you may want to
buy.<o:p></o:p></span></span></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Insurance Forecast for 2021 and Beyond<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">In the aftermath of the
COVID-19 crisis, organizations need to have an action plan that should involve
response, recovery, and growth.When the pandemic began hurting the economy,
insurance companies responded by taking steps, ensuring business continuity and
helping customers and communities cope with it.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">In 2021, insurers need to
have a long-term strategy to accelerate their recovery efforts and to make a transition
to the growth phase, despite economic challenges.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">According to a </span><span style="font-size: 12pt;">study by
Capgemini, the following trends will be prominent in the health insurance
industry:</span></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: times;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIKUCd4dmrHZdmz0MxSvqOX9wr90CktVfN0SPSHRa-07idnOvWjWbkci9DuukUjvrwWrvCdcvhJh9senJDE0jG1gdJ_nYhUiA3pyozDckKzFyLiyjbETrAbsl3y6z4chm9QvjWUM-YjAFv//" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="343" data-original-width="617" height="223" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIKUCd4dmrHZdmz0MxSvqOX9wr90CktVfN0SPSHRa-07idnOvWjWbkci9DuukUjvrwWrvCdcvhJh9senJDE0jG1gdJ_nYhUiA3pyozDckKzFyLiyjbETrAbsl3y6z4chm9QvjWUM-YjAFv/w400-h223/image.png" width="400" /></a></span></div><span style="font-family: times;"><br /></span><p></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">The survey further stated
that the cost of health care would continue to increase significantly. The
medical inflation was about to increase by nearly 7 percent before COVID-19.
Besides, increase in the aging population and increasing chronic conditions
will add up to the overall cost.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">The survey has also
forecast that customers may prefer omnichannel service for buying insurance
(in-person, via the company website, mobile phone, and social applications).
Nearly 75 percent of policyholders responded that they might switch to another
<a href="https://alliedbrokers.com/" target="_blank">insurance provider</a> for smooth service and flexible coverages. If you are
looking for better insurance options, it is ideal to consult a leading and
local <span style="color: #0e101a;">insurance broker</span>.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">Even governments and
regulators are modifying compliance mandates in the areas related to
transparency and data interoperability. The US Department of Health and Human
Services has already set new standards to improve data sharing between health
IT systems and interoperability. <o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">Again, Deloitte’s third
quarter for the US economy shows that there could still be a significant
economic slowdown throughout 2021. Considering this, insurers in the US and
across the world, are exploring strategies to ensure that their foundation
stays strong regardless of the economic adversities. In that pursuit, insurers
are planning to invest in the areas of technology, operations, human resources, and finance. More insurance companies are likely to focus on minimizing human
error by providing 24/7 customer service via chatbots. Besides, smartly
programmed chatbots will offer up-to-date and accurate information based on
customer inquiries. To reduce operational expenses and human errors, there
would be more robotic process automation (RPA). By using RPA, insurers aim to
streamline tedious processes and transactions such as claims processing and
document verification, and claims processing with minimum errors. <o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">Finally, the
implementation of virtual collaboration systems through digital applications
will help boost online sales with lower customer acquisition costs. There will
be more online interactions between the insurance teams and customers, such as
teleconferencing and video calling. There will also be lesser dependence on
physical files and manual document maintenance.<o:p></o:p></span></span></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Before
We Go<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">Despite the gloomy economy
due to the pandemic, there is a brighter side too. Because of the lockdown and
other social distancing restrictions, the demand for digital transactions like
insurance policies have significantly increased. Since customers are cautious about
meeting an insurance broker in person,
buying insurance online without having to compromise on conventional <a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank">health insurance</a> benefits seems a safer option.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">If you live in California,
we can help you by providing detailed information on the best insurance
policies available. We are a local insurance
broker and have been providing full-service insurance brokerage since 1954.
<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">We can help you out with
the many insurance options offered by leading insurers in the US so that you
can decide on the best one for you. Get a free insurance quote by filling out
this </span><span lang="EN-US"><span style="font-size: 12pt; line-height: 115%;"><a href="https://alliedbrokers.com/phpbb/form2maillife.htm">online form</a> </span></span></span><span lang="EN-US" style="font-size: 12pt; line-height: 115%;"><span style="font-family: times;">or dial our toll-free
number <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b>. Allow us to
help you get insured!</span><o:p></o:p></span></p><span style="font-size: 12pt;"></span><p></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-75320759570969139892020-12-22T23:31:00.002-08:002020-12-22T23:31:17.593-08:00Overview of Medical Health Insurance Programs in California<p><span style="font-family: times;"><span style="font-size: 12pt; text-align: justify;">The </span><b style="font-size: 12pt; text-align: justify;"><a href="https://alliedbrokers.com/health-insurance-broker-near-me.html" target="_blank">medical health insurance</a></b><span style="font-size: 12pt; text-align: justify;"> marketplace in California offers the residents diverse
health insurance options.</span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">According to their income level, people can join
in healthcare, plans and be eligible for cost-sharing reductions (CSR) or subsidies
to pay their monthly premiums and other expenses like a deductible or copay.<o:p></o:p></span></span></p><p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"></span></p><div class="separator" style="clear: both; text-align: center;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-Sagq5Nxc724HLECRg1EX9FYWsaWUBvh_Hubyf52ID4sqh9r6NanG_95ov6qSCmyOIMdkMuOaggoIGy4wUA8CItcM63_HS8aeoaltdOl47njIDP3BHnSohv3CR06Qed5EdKdfILznGwxG/s621/allied+.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Medical Health Insurance in California" border="0" data-original-height="412" data-original-width="621" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-Sagq5Nxc724HLECRg1EX9FYWsaWUBvh_Hubyf52ID4sqh9r6NanG_95ov6qSCmyOIMdkMuOaggoIGy4wUA8CItcM63_HS8aeoaltdOl47njIDP3BHnSohv3CR06Qed5EdKdfILznGwxG/w400-h265/allied+.jpg" title="Medical Health Insurance in California" width="400" /></a></span></div><span lang="EN-US" style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span><p></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">The California Health Insurance Market
at a Glance:<o:p></o:p></span></span></b></p><p class="MsoNormal" style="text-align: justify;"></p><ul><li><span style="font-family: times;">California rolled out state-based premium subsidies in 2020.</span></li><li><span style="font-family: times;">The state-run exchange in California is one of the most successful in the country.</span></li><li><span style="font-family: times;">A new law in California reclassified many independent contractors as employees in 2020 to qualify for labor law protections.</span></li><li><span style="font-family: times;">Several medical health insurance companies provide health coverage in the state with less than a 1% increase in average premium in 2020.</span></li></ul><p></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: times;">There are different types of healthcare programs
in California, including public healthcare plans such as Medi-Cal and Medicare, with
other coverages and eligibility criteria.</span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">In this post, we have listed the major
healthcare plans in California for individual and family coverage.</span><span style="font-size: 12pt;"> </span></span></p>
<h1><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Medical Health Insurance Programs<o:p></o:p></span></span></b></h1>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span style="font-size: 12pt;">In need of medical treatment or
hospitalization, you can get that thorough health insurance coverage.
Your </span><span style="font-size: 12pt;">medical health insurance</span><span style="font-size: 12pt;"> policy
clarifies in writing the areas covered and not covered. You can purchase insurance
as "Individual/Family" or "Group" policies.</span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">Generally, employers purchase group policies
for employees. The issue of such policies happens as group insurance. You can add
your dependents or family members to the insurance, and you may have to bear all
or part of the premium payable every month.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">You can purchase an individual or <a href="https://alliedbrokers.blogspot.com/2015/02/individual-and-family-health-insurance.html" target="_blank"><b>family health plan</b></a> separately, besides your employer-provided health coverage. Once you buy
such a policy, you may be able to add other dependents on some occasions.</span><span style="font-size: 12pt;"> </span></span></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Managed Healthcare Programs &HMOs<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span style="font-size: 12pt;">This type of health insurance plan falls under
separate Californian laws. The coverages under these plans are also different
from traditional insurance policies. You can purchase these medical health</span><b style="font-size: 12pt;"> insurance</b><span style="font-size: 12pt;"> plans either as "Individual/Family"
or "Group" policies. Here it is important to note that the federal
government regulates medicare advantage/HMOs.</span></span></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Covered California: California's Healthcare
Marketplace<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span style="font-size: 12pt;">The State of California has created a
marketplace for</span><b style="font-size: 12pt;"> medical health insurance
</b><span style="font-size: 12pt;">as part of the Affordable Care Act. Through Covered California, families,
individuals and <b><a href="https://alliedbrokers.blogspot.com/2019/01/health-insurance-options-for-small_9.html" target="_blank">small businesses</a> </b>can buy insurance policies from private
insurers.</span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">Covered California also helps people figure
out if they are eligible for the Medi-Cal program and subsidies toward
purchasing a private insurance plan.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">Earlier, due to the COVID-19 outbreak, Covered
California initiated a special registration for uninsured Californians until
August 31, 2020, to join in a health plan through the exchange. As many as 11 insurance companies in California are offering individual health policies through Covered
California in 2020.</span></span></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">The California Medical Assistance
Program (Medi-Cal)<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: times;">In California, the Medi-Cal program is similar
to the Medicaid program that the federal government provides. Generally, the
program covers families in the lower-income group and single adults in
California.</span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">The Medi-Cal covers a wide range of treatments
and other medical expenses. You need not pay to get Medi-Cal coverage. Instead,
you can get it in the form of a benefit, depending on your eligibility.</span></span></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Access Program by Medi-Cal (MCAP)<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">In California,
uninsured pregnant women in the middle-income group can receive low-cost
medical health insurance through </span><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">MCAP.
Women in California, who are not receiving the no-cost Medicare or Medi-Cal,
get coverage through this program. There may be co-payment requirements of over
$500 or a separate maternity deductible and meet specific income guidelines.</span></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><br /></p><h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Also Read: </span></span></b><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;"><a href="https://alliedbrokers.blogspot.com/2011/01/significance-of-health-insurance.html" target="_blank">The Significance of Health Insurance</a></span></span></b></h2><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><br /></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Self-Insured Health Insurance Programs<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: times;">Many large organizations are self-insured,
even in California. These employers have a substantial budget that they use to pay
for the healthcare coverage of employees. The employers usually get into contracts
with insurance companies to manage employees' health benefits.</span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">Employees should learn if their employer is
self-insured. It is because they may not get the same coverages as other
insurance programs provide. It is not a requirement for self-insured plans to
follow California laws on covering essential healthcare.</span></span></p>
<h2 style="margin-top: 0cm;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext" lang="EN-US"><span style="font-family: times;">Before We Go<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: times;">California's state government has taken
several initiatives in recent times to provide adequate health coverage to
residents. For example, the government allocated $295 million to provide
premium subsidies to Californians with income between 400 and 600 percent of
the poverty level.</span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;">There are also many private insurance options
in California with affordable premiums. We can help you choose the<b> <a href="https://alliedbrokers.com/" target="_blank">best </a></b><b style="mso-bidi-font-weight: normal;"><a href="https://alliedbrokers.com/" target="_blank">medical health insuranc</a>e </b>program for
you and your family. <o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="font-family: times;"><span lang="EN-US" style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">To get more details about
health insurance plans, call us at <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b>
or fill out the </span><span lang="EN-US"><a href="http://www.alliedbrokers.com/phpbb/form2mailcontactus.htm"><span style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><b>online contact form</b></span></a></span><span class="MsoHyperlink"><span lang="EN-US" style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">,</span></span></span><span lang="EN-US" style="background: rgb(254, 253, 250); font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: times;"> and we will be glad
to assist you.</span><o:p></o:p></span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.4179324-7.389272942286631 170.26956760000002 80.945794942286625 -49.1054324tag:blogger.com,1999:blog-4429083774000309960.post-68206266587653717822020-12-22T03:12:00.005-08:002020-12-23T03:23:05.306-08:00Is It a Good Idea to Buy a Second-to-Die Policy?<p><span style="font-size: 12pt; text-align: justify;">Second-to-die insurance or
survivorship policy is a specific <a href="https://alliedbrokers.blogspot.com/2019/04/what-to-do-if-your-life-insurance.html" target="_blank"><b>life insurance policy</b></a> that insures two people.
In this plan, the beneficiaries receive the survivor benefit only after the
last insured person dies.</span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">This policy is different from a regular
life insurance policy, as here, the surviving partner does not receive any
benefits after the spouse dies. In standard life insurance policies, spouses name their husbands or wives a beneficiary, and he/she gets the survivor benefit once
the policyholder dies.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Many people take second-to-die
insurance for estate planning, mainly to fund an irreversible life insurance
trust (ILIT) or to pass on survivor benefits to children or grandchildren. A reputable <b style="mso-bidi-font-weight: normal;"><a href="https://alliedbrokers.com/" target="_blank">insurance broker</a></b> can walk
you through this policy for better understanding.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiOuyyeUiyWOx_OPsq7Wf724B4ODTq-DbQWl-FLwW3sDqMeWN5wsn4cocss3wMBN2Fxs7ZGXDp6Hi-57Vf1GxubcoWyTqJK3NSP1oajtonCKj5vCyjZkW2irHoTRsawVup9UBlZnhmokEK2/s614/second+to+die+-+allied.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Second-to-Die Policy" border="0" data-original-height="465" data-original-width="614" height="303" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiOuyyeUiyWOx_OPsq7Wf724B4ODTq-DbQWl-FLwW3sDqMeWN5wsn4cocss3wMBN2Fxs7ZGXDp6Hi-57Vf1GxubcoWyTqJK3NSP1oajtonCKj5vCyjZkW2irHoTRsawVup9UBlZnhmokEK2/w400-h303/second+to+die+-+allied.jpg" title="Second-to-Die Policy" width="400" /></a></div><span lang="EN-US" style="font-size: 12pt; line-height: 107%;"><br /></span><p></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext" face=""Calibri","sans-serif"" lang="EN-US" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">More Insights into the Second-to-Die Policy<o:p></o:p></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">The purpose of taking a <a href="https://alliedbrokers.com/life_insurance.html#secondtodie" target="_blank">second-to-die policy</a> is to help beneficiaries pay off
estate taxes. The most common transfer tax in the US is the Federal Estate Tax.
Besides, different other transfer taxes are also there at various state levels.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Survivorship policies provide the required
liquidity to survivors to pay the outstanding taxes without having to sell other
assets.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Example:<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Let us assume that Daniel and Emma own
a property or estate in California for which the projected estate tax is $4
million. Although they have enough assets to pay the tax amount, most of these are
business assets and properties.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">If they have a second-to-die policy,
after Daniel passes away, all the assets can transfer to Emma because she is the
only owner now, and there are no outstanding taxes at this point (or vice
versa). However, when Emma dies, too, her estate has to file with the Internal
Revenue Service (Form 706)to complete the obligation of paying all the
outstanding estate taxes within the next 9 months of Emma’s death. <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Generally, relatively larger estates
have complexity when it comes to tax obligations. So, in normal circumstances, it
is unlikely that Emma’s estate executor could sell off the relevant assets to pay
the due tax before 9 months’ window completes. On some occasions, the estate may
request an extension.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Now, if Daniel and Emma have
second-to-die insurance, both of them can get coverage, and after their
passing, their survivors will be able to pay the estate taxes with the death
benefit.<o:p></o:p></span></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext" face=""Calibri","sans-serif"" lang="EN-US" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">Second-to-Die Policies are Inexpensive Compared to Regular
Life Insurance<o:p></o:p></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Yes, second-to-die policies cost much lesser than traditional life insurance
policies due to their much lower premiums. It is because these policies cost
significantly lower to the insurance company.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">It is simple mathematics. It is more
likely for traditional insurance policies that the primary policyholder may
die, and the beneficiary will get the survivor benefit. However, in
second-to-die policies, the probability of both insured individuals’ passing
during a given year is much lower, and thus they cost lesser to the insurance
company. Check with an insurance broker<b style="mso-bidi-font-weight: normal;"> </b>to
learn about all these aspects.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">An example will clarify the
difference between the pricing of a second-to-die policy and a traditional life
insurance policy.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">Again, if we assume Daniel and Emma both
age 45, and the death benefit of their policy is $1 million, the breakdown of
their premiums are below:<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"></p><ul><li>The annual premium for Daniel will be $16,730.</li><li>The annual premium for Emma will be $14,820.</li><li>The annual premium for the second-to-die policy will be $11,129.</li></ul><p></p><p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="line-height: 107%;"></span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 107%;">In any circumstances, no one knows
who will die first. This is why a survivorship life insurance like a
second-to-die policy covers the survivorship benefit for children and grandchildren
in terms of estate taxes.<o:p></o:p></span></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext" face=""Calibri","sans-serif"" lang="EN-US" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">Is a Second-to-Die Policy Good for Long-term Cash
Accumulation?<o:p></o:p></span></b></h2>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">A second-to-die policy may appear to be an attractive option for you to create
a cash accumulation strategy as part of your <a href="https://alliedbrokers.com/retirement_planning.html" target="_blank"><b>retirement plan</b></a>. However, that may
not work out well.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">When it comes to using it as
a cash accumulation vehicle, a survivorship life insurance like a second-to-die
policy does not shine compared with an alternative individually insured plan. The
individual life insurance policies tend to work out much better for
accumulating cash value. Besides, traditional life insurance plans provide
additional financial security that second-to-die policies cannot. An insurance broker can surely guide you
on this.<o:p></o:p></span></p>
<h1><b style="mso-bidi-font-weight: normal;"><span color="windowtext" face=""Calibri","sans-serif"" lang="EN-US" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">Before We Go<o:p></o:p></span></b></h1>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">We have been in the insurance industry since 1954, and we have seen many people
who consult us about buying <a href="https://alliedbrokers.com/life-insurance-broker-near-me.html" target="_blank"><b>life insurance</b></a> mainly for their cash accumulation
features. However, we find that more often than not, death benefit becomes a
little more critical when choosing the right policy. We guide them to select an
approach that is perfect for them and their beneficiaries.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">As a reputable and leading
insurance broker<b> </b>in California, our priority
is to serve you, keeping your financial interest and security in mind. Remember
that we represent dozens of insurance companies, not just one company. We will
give you all the options and details to get a policy that suits you the best. You
can get a free life insurance quote by filling out this </span><span lang="EN-US"><a href="https://alliedbrokers.com/phpbb/form2maillife.htm"><span style="font-size: 12pt; line-height: 115%;"><b>online form</b></span></a></span><span class="MsoHyperlink"><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">.
</span></span><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">You
can also give us a</span><span lang="EN-US"> call </span><span lang="EN-US" style="font-size: 12pt; line-height: 115%;">at our toll-free number <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b>. We would always be
happy to help you!<o:p></o:p></span></p>
Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0California, USA36.778261 -119.41793248.4680271638211551 -154.57418239999998 65.088494836178853 -84.2616824tag:blogger.com,1999:blog-4429083774000309960.post-3585201415621610972020-11-26T05:59:00.002-08:002020-11-26T05:59:13.995-08:00Can I Take Out a Loan on My Life Insurance<p><span style="font-size: 12pt; text-align: justify;"><span style="font-family: inherit;">Did you know that if you need a substantial amount of cash,
your <a href="https://alliedbrokers.com/life_insurance.html" target="_blank"><b>life insurance policy</b></a> could come to your rescue? That is right. You can
borrow nearly 95 percent of the surrender value of your life insurance policy
in any given year.</span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">The rules related to taking out a loan from a life insurance
policy vary from company to company, which is why you need to understand them
to find out how much and when you can borrow against your policy. Your <b style="mso-bidi-font-weight: normal;"><a href="https://alliedbrokers.com/" target="_blank">insurance broker</a></b> can shed more light on
this matter.</span></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;"><br /></span></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;"></span></span></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkERXVB9qzP9Wk_nzqG9eo3nwyOQgPTB7Nn7-aAhWu-bO4pFBybvUMhDN0dFPtR_LTNMmq7f-dI0XB66jdpOm_OP95N58F3QSlwqsapSYAg6smmretM-zA6dR54HBTbOfcG4xqF8LxAPB9//" style="margin-left: auto; margin-right: auto;"><img alt="Can I Take Out a Loan on My Life Insurance" data-original-height="420" data-original-width="628" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkERXVB9qzP9Wk_nzqG9eo3nwyOQgPTB7Nn7-aAhWu-bO4pFBybvUMhDN0dFPtR_LTNMmq7f-dI0XB66jdpOm_OP95N58F3QSlwqsapSYAg6smmretM-zA6dR54HBTbOfcG4xqF8LxAPB9/w400-h268/image.png" title="Can I Take Out a Loan on My Life Insurance" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><br /></td></tr></tbody></table><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;"><br /><br /></span></span><p></p>
<h1><b style="mso-bidi-font-weight: normal;"><span color="windowtext"><span style="font-family: inherit;">When Can You
Take a Loan Against Your Life Insurance Policy?<o:p></o:p></span></span></b></h1>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: inherit;">When you can borrow against your life insurance policy, it
depends on the concerned insurance company's rules. Some insurance companies
provide the option of borrowing against the policy as soon as it has the cash
surrender value.</span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">For other companies, you may have to wait a specific period
before borrowing against your policy.You need to wait two years from the policy
start date to take out a loan in most cases. It is usually rare to wait any
longer than two years.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">The best part is, other than the two-year waiting period, and there
are no other loan eligibility conditions. There is also no specific time when
you can apply for a loan.<o:p></o:p></span></span></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext"><span style="font-family: inherit;">How Much Loan
Amount Can I Borrow?<o:p></o:p></span></span></b></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt;"><span style="font-family: inherit;">There is no universal rule on how much cash surrender value you
can receive as a loan. The availability of the maximum loan amount depends on
the insurance company and its regulations. Usually, policies allow up to 95
percent of the cash surrender value.</span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">For example, you have a life insurance policy with a $100,000
cash surrender value, and the annual policy loan interest rate is 5 percent. If
the insurance company allows borrowing a maximum of 95 percent of the cash
surrender value, you can get up to $95,000.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">Now, one year down the line after taking out this amount, the
accumulated interest rate on loan (without any repayments) will be $4,750. If
you wish to add the interest to the loan balance, the balance will become $99,750,
which is still below the cash surrender value of $100,000 when the loan
started.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">Generally, insurance companies do not set the maximum loan
amount below 90 percent of the cash surrender value. Also, the cash surrender
value determines how much you can take out against a life insurance policy. For
more details, consult an experienced insurance
broker.</span></span></p>
<h2><b style="mso-bidi-font-weight: normal;"><span color="windowtext"><span style="font-family: inherit;">Does The
Maximum Available Loan Amount Change?</span></span></b></h2>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">The answer
is,"yes." The maximum amount of loan that you can take out can change
based on the following scenarios:</span></span></p><p class="MsoNormal"></p><ul style="text-align: left;"><li><span style="font-family: inherit;"> Change in the loan interest rate</span></li></ul><ul style="text-align: left;"><li><span style="font-family: inherit;"> Change in product type</span></li></ul><ul style="text-align: left;"><li><span style="font-family: inherit;"> Change of loan type.</span></li></ul><div><br /></div><div><br /></div><h3 class="post-title entry-title" style="background-color: #fdfaf0; color: #2c1d14; font-family: "EB Garamond", serif; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0px; text-transform: uppercase;"><span style="font-size: medium;"><a href="https://alliedbrokers.blogspot.com/2015/04/benefits-of-universal-life-insurance.html" style="background: transparent; color: #2c1d14; text-decoration-line: none;">A</a>lso Read: </span><a href="https://alliedbrokers.blogspot.com/2015/04/benefits-of-universal-life-insurance.html" style="background: transparent; color: #2c1d14; text-decoration-line: none;"><span style="font-size: medium;">BENEFITS OF UNIVERSAL LIFE INSURANCE</span></a></h3><div><br /></div><div><br /></div><p></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14pt; line-height: 107%;"><span style="font-family: inherit;">Change in the Loan Interest Rate<o:p></o:p></span></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">The maximum loan amount you can take out from your life
insurance policy can reduce if it has a variable loan interest rate.It happens
because the insurance company will not allow you to borrow an amount that will eventually
become larger than the cash surrender value during the first year of the loan.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">If we take the example used earlier, assuming the same life
insurance policy has a variable loan interest rate. After a few years, the
rates become 10 percent instead of 5 percent.This will change the maximum loan amount
you can take out. It means the same $95,000 loan will add up to become $9,500
in loan interest in one year, and after adding to the $95,000 loan balance,the
total loan will be $104,500 after one year.</span></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14pt; line-height: 107%;"><span style="font-family: inherit;">Change in the Product Type<o:p></o:p></span></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">According to the product type, the rules of borrowing against
a life insurance policy are different even for the same company. <o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">A whole life policy is likely to have a different loan
interest rate than a universal life insurance policy. It will affect the maximum
available loan amount.</span></span></p>
<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14pt; line-height: 107%;"><span style="font-family: inherit;">Change of Loan Type<o:p></o:p></span></span></b></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">There are life insurance policies that even allow more than
one loan option. For example, indexed universal life insurance (IUL) is one
such policy. Most IUL policies provide a minimum of two (or more) loan options to policy
owners. <o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">These various loan options often have different maximum available
loan amounts. It is due to the difference in the loan interest and the functionality
of the insurance. You will get a higher maximum available loan amount on a fixed
loan than the indexed loan because these loan types' annual interest rates are
different.</span></span></p>
<h2><span style="font-family: inherit;"><b style="mso-bidi-font-weight: normal;"><span color="windowtext">Before We Go</span></b> </span></h2>
<p class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;">If you are looking for more information regarding how to
borrow against your life insurance policy, you can contact your insurance
company for details. If you are yet to buy a life insurance policy, a reputable
insurance broker can guide you and inform you about the best possible policies
available on the market.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="text-align: justify;"><span style="font-family: inherit;"><span style="font-size: 12pt; line-height: 107%;">A representative or an insurance
broker of the company will walk you through all the aspects, including the
maximum loan amount the policies offer. You can request a <a href="https://alliedbrokers.com/phpbb/form2maillife.htm" target="_blank">free life insurance quote</a> by filling out this </span><span style="font-size: 12pt; line-height: 107%;">online form</span></span><span style="font-size: 12pt; line-height: 107%;"><span style="font-family: inherit;"> or can call us at our toll-free
number <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b>.</span><o:p></o:p></span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0Palo Alto, CA, USA37.4418834 -122.14301959.1316495638211563 -157.29926949999998 65.752117236178847 -86.9867695tag:blogger.com,1999:blog-4429083774000309960.post-67429772663015126082020-10-21T00:31:00.001-07:002020-10-21T00:31:13.201-07:00How Commercial Trucking Insurance is Different from Commercial Auto Insurance <p><span style="text-align: justify;">A report by Forbes reveals that, on average, there have been 3-4 accidents on the road. Overall, there are nearly 10 million car accidents every year.</span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Fortunately, most accidents are not fatal. Only 3 out of every 1000 accidents lead to a loss of life. However, these accidents are costly.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">The average claim amount for a car crash is $23,450, which is the cost to cover the driver and others involved.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Commercial auto insurance provides coverage for cars, trucks, and vans that work as part of business activities. You can buy this type of insurance to cover all kinds of automobiles, starting from standard passenger vehicles to larger commercial box trucks, service utility trucks, and work vans.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">The requirement of commercial auto insurance varies based on the types of businesses. On the other hand, commercial trucking insurance is a variance of commercial auto insurance that protects against the trucking industry's potential risks. More details will be in the next section.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;"><span style="font-family: inherit;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: inherit;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinuUu6fK37PKFf0hulagzRuUPmECbazCHomMODps7hYHCkU0L-BBlfaucYQ_mqzkGQ7VBH-0aIx0_0GCMYlIWQ-zyIuc-O-ZDD4ApqWPrsO2WDPAAOzHnZgv-i5-ZwjCMllh6rd2MwurFt/s556/allied.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="How Commercial Trucking Insurance is Different from Commercial Auto Insurance" border="0" data-original-height="370" data-original-width="556" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinuUu6fK37PKFf0hulagzRuUPmECbazCHomMODps7hYHCkU0L-BBlfaucYQ_mqzkGQ7VBH-0aIx0_0GCMYlIWQ-zyIuc-O-ZDD4ApqWPrsO2WDPAAOzHnZgv-i5-ZwjCMllh6rd2MwurFt/w400-h266/allied.jpg" title="How Commercial Trucking Insurance is Different from Commercial Auto Insurance" width="400" /></a></span></div><span style="font-family: inherit;"><br /><div class="separator" style="clear: both; font-size: 12pt; text-align: center;"><br /></div><br /></span><b style="font-size: 12pt;"><span lang="EN-US" style="font-size: 14pt; line-height: 21.4667px;">Commercial Trucking Insurance</span></b><p></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Commercial trucking insurance is a specific type of auto insurance that covers trucking needs. A trucking insurance policy is based on the primary liability and various additional coverages.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Primary liability trucking insurance is often a requirement for a trucking license, as it protects the involved parties and property from potential damage that your truck may cause.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">If you have a commercial truck and are willing to drive on your authority, you will require primary liability insurance. If you own and operate a trucking company, you can expand your trucking insurance by including general liability, as well.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Remember that a primary insurance policy only covers the damage to another automobile or an individual in an accident. However, general liability provides additional protection if there is a lawsuit, a libel, or a false advertising claim against your company.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Generally, insurance experts suggest getting general liability commercial trucking insurance. All trucks require a minimum of $750,000 in insurance coverage. On top of it, the Federal Motor Carrier Safety Administration (FMCSA) may require individual trucking operators to submit proof of their general <a href="https://alliedbrokers.blogspot.com/2014/11/understanding-professional-liability.html">liability coverage</a>.</span></p><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0.0001pt; text-align: justify;"><b><span lang="EN-US" style="font-size: 14pt; line-height: 21.4667px;">Commercial Auto Insurance</span></b></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Commercial auto insurance is for businesses that run their vehicles for business activities. This type of insurances is not just for a contractor with trucks; it also applies to various companies, starting from a caterer to a florist that delivers products.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">In simple words, if you are running your vehicle for work or earning income, apart from traveling to your workplace, it will fall into a commercial vehicle category.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">Commercial auto insurance will provide the same coverage type as a personal insurance policy, only with higher limits.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">For example, if your personal auto insurance policy covers damages worth up to 300,000, a commercial policy may cover up to a million.</span></p><p class="MsoNormal" style="line-height: 18.4px;"><b><span lang="EN-US" style="font-size: 14pt; line-height: 21.4667px;">What Types of Coverage Part of a Commercial Trucking Insurance Policy?<o:p></o:p></span></b></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">The two fundamental commercial trucking insurance policies are general liability and primary liability. A standard general liability commercial truck insurance policy provides the following coverage:<o:p></o:p></span></p><p class="MsoListParagraphCxSpFirst" style="line-height: 18.4px; margin-left: 18pt; text-align: justify; text-indent: -18pt;"></p><ul><li><span style="font-family: inherit;"><span lang="EN-US" style="line-height: 18.4px;"><span style="font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><b style="text-indent: -18pt;"><span lang="EN-US">Property and commodity damage: </span></b><span lang="EN-US" style="text-indent: -18pt;">A commercial trucking insurance covers damages that your truck may cause to another person's property, along with damage to commodities, you are hauling.</span></span></li></ul><p></p><p class="MsoListParagraphCxSpFirst" style="line-height: 18.4px; margin-left: 18pt; text-align: justify; text-indent: -18pt;"></p><ul><li><span style="font-family: inherit;"><b><span lang="EN-US">Physical injury:</span></b><span lang="EN-US"> If your truck causes physical injuries to an individual, your commercial trucking insurance will cover for medical bills as well as for a lawsuit, if any. The policy can also protect you from liability if another person suffers injury in your property.</span></span></li></ul><ul><li><span style="font-family: inherit;"><b><span lang="EN-US">Misleading advertising, slander, and libel:</span></b><span lang="EN-US"> General liability insurance covers you against lawsuits for misleading, false advertising, slander, and defamation. You may require this protection if you run any advertising.</span></span></li></ul><p></p><p class="MsoNormal" style="line-height: 12.5pt; text-align: justify;"><span style="font-family: inherit;"><span lang="EN-US">It is also a requirement for trucking businesses to get primary liability insurance under FMCSA regulations. The policy protects others for property damage or physical injury due to a truck accident.</span><o:p></o:p></span></p><p class="MsoNormal" style="line-height: 12.5pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><br /></span></p><h3 style="line-height: 21.528px; text-align: justify;"><span style="font-family: inherit; font-size: small;"><span lang="EN-US" style="line-height: 18.4px;"> Also Read: </span><a href="https://alliedbrokers.blogspot.com/2018/12/how-much-auto-insurance-do-you-need.html" target="_blank">How much Auto Insurance do you need?</a></span></h3><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span style="font-family: inherit;"><br /></span></p><h1 style="line-height: 36.8px;"><b><span lang="EN-US" style="color: windowtext;">Before We Go</span></b></h1><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">It is ideal not to wait for an accident to happen to find out your <a href="https://alliedbrokers.com/auto_insurance_types.html" target="_blank">auto insurance</a> is not the right policy for adequate coverage. Consult a reputable insurance broker with your coverage needs according to your business operations.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="line-height: 18.4px;">We are a leading insurance broker operating in the Bay Area for more than 50 years. Our experts can tell you exactly what types of coverage you need to include in your commercial trucking insurance, such as bobtail, motor truck cargo, or reefer breakdown coverage.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span style="font-family: inherit;"><span lang="EN-US" style="background: rgb(254, 253, 250); line-height: 18.4px;">Call at our toll-free number <b>1-888-505-7988</b> or fill out this </span><span lang="EN-US"><a href="http://www.alliedbrokers.com/phpbb/form2mailcontactus.htm"><span style="background: rgb(254, 253, 250); color: windowtext; line-height: 18.4px;">online contact form</span></a></span><span class="MsoHyperlink"><span lang="EN-US" style="background: rgb(254, 253, 250); color: windowtext; line-height: 18.4px;">,</span></span><span lang="EN-US" style="background: rgb(254, 253, 250); line-height: 18.4px;"> and we will assist you right away.</span></span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0Palo Alto, CA, USA37.4418834 -122.14301959.1316495638211563 -157.29926949999998 65.752117236178847 -86.9867695tag:blogger.com,1999:blog-4429083774000309960.post-67371144631315346652020-10-20T23:35:00.002-07:002020-10-21T23:43:39.486-07:00Broker vs. Agent: Whom Should You Choose for Buying Life Insurance?<p><span style="background-color: white; font-family: inherit; text-align: justify;">If you plan to buy</span><span style="background-color: white; font-family: inherit; text-align: justify;"> </span><a href="https://alliedbrokers.com/life_insurance.html" style="font-family: inherit; text-align: justify;" target="_blank">life insurance</a><span style="background-color: white; font-family: inherit; text-align: justify;"> </span><span style="background-color: white; font-family: inherit; text-align: justify;">and have already done some online research, you may have often come across terms like “broker” and “agent.”</span></p><p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="background: white; font-family: inherit; line-height: 17.12px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Before getting an insurance policy, it is ideal to know the differences because it may save you from a bad deal and regrets in the long run.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="background: white; font-family: inherit; line-height: 17.12px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Both insurance brokers and insurance agents work as intermediaries between insurance companies and customers.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4zKfunOHtzGxDcSmCQZ_jSxt5Z4SS-oVq73-H_zUqRfNGcep8CYKPqURTvZue8ZDN8KGkzKORohG5awM8rp2kYOqyScDtT3GRPL-goQ9Gx8q0rkkf55j0JRXD_vV6V1T-07465Nvxhyphenhyphenb9/s435/Allied+broker.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: inherit;"><img alt="Whom Should You Choose for Buying Life Insurance" border="0" data-original-height="320" data-original-width="435" height="294" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4zKfunOHtzGxDcSmCQZ_jSxt5Z4SS-oVq73-H_zUqRfNGcep8CYKPqURTvZue8ZDN8KGkzKORohG5awM8rp2kYOqyScDtT3GRPL-goQ9Gx8q0rkkf55j0JRXD_vV6V1T-07465Nvxhyphenhyphenb9/w400-h294/Allied+broker.png" title="Whom Should You Choose for Buying Life Insurance" width="400" /></span></a></div><span style="background-color: white;"><span style="font-family: inherit;"><p class="MsoNormal" style="font-size: 12pt; text-align: justify;"><span style="font-size: 12pt;"><br /></span></p>Both of these professionals should hold a valid license for selling insurance policies and comply with the relevant laws or regulations that the local insurance departments enforce in the state.</span></span><p></p><p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="background: white; font-family: inherit; line-height: 17.12px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The main difference between an insurance broker and an agent lies in their representation. A broker represents end-consumers, whereas an agent represents single or multiple insurance companies.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span style="font-family: inherit;"><span lang="EN-US" style="background: white; line-height: 17.12px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">The primary differences between a broker and an agent at a glance:</span><span lang="EN-US" style="font-size: 12pt; line-height: 17.12px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><o:p></o:p></span></span></p><table border="1" cellpadding="0" cellspacing="0" class="GridTable4Accent1" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-border-insideh: .5pt solid windowtext; mso-border-insidev: .5pt solid windowtext; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;"><tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: -1;"><td style="background: rgb(91, 155, 213); border: 1pt solid windowtext; mso-background-themecolor: accent1; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 94.25pt;" valign="top" width="126"><p align="center" class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 5; text-align: center;"><b><span lang="EN-US" style="color: white; font-family: inherit; font-size: 12pt; line-height: 18.4px; mso-themecolor: background1;">Criteria<o:p></o:p></span></b></p></td><td style="background: rgb(91, 155, 213); border-left: none; border: 1pt solid windowtext; mso-background-themecolor: accent1; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 189pt;" valign="top" width="252"><p align="center" class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 1; text-align: center;"><b><span lang="EN-US" style="color: white; font-family: inherit; font-size: 12pt; line-height: 18.4px; mso-themecolor: background1;">Insurance Broker<o:p></o:p></span></b></p></td><td style="background: rgb(91, 155, 213); border-left: none; border: 1pt solid windowtext; mso-background-themecolor: accent1; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 184.25pt;" valign="top" width="246"><p align="center" class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 1; text-align: center;"><b><span lang="EN-US" style="color: white; font-family: inherit; font-size: 12pt; line-height: 18.4px; mso-themecolor: background1;">Insurance Agent<o:p></o:p></span></b></p></td></tr><tr style="mso-yfti-irow: 0;"><td style="background: rgb(222, 234, 246); border-top: none; border: 1pt solid windowtext; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 94.25pt;" valign="top" width="126"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 68;"><b><span lang="EN-US" style="font-family: inherit; font-size: 12pt; line-height: 18.4px;">Their representation <o:p></o:p></span></b></p></td><td style="background: rgb(222, 234, 246); border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 189pt;" valign="top" width="252"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 64;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">A broker represents consumers (you). They do not work for any insurance company.<o:p></o:p></span></p></td><td style="background: rgb(222, 234, 246); border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 184.25pt;" valign="top" width="246"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 64;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">An agent represents a particular insurance company. You are their customer.<o:p></o:p></span></p></td></tr><tr style="mso-yfti-irow: 1;"><td style="border-top: none; border: 1pt solid windowtext; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 94.25pt;" valign="top" width="126"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 4;"><b><span lang="EN-US" style="font-family: inherit; font-size: 12pt; line-height: 18.4px;">What is their primary job?<o:p></o:p></span></b></p></td><td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 189pt;" valign="top" width="252"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Assist you in choosing an insurance policy that best suits your requirements from various options.<o:p></o:p></span></p></td><td style="border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 184.25pt;" valign="top" width="246"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">An agent tries hard to sell the product on behalf of an insurance company. Also, it helps with form processing and paying premiums.<o:p></o:p></span></p></td></tr><tr style="mso-yfti-irow: 2; mso-yfti-lastrow: yes;"><td style="background: rgb(222, 234, 246); border-top: none; border: 1pt solid windowtext; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 94.25pt;" valign="top" width="126"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 68;"><b><span lang="EN-US" style="font-family: inherit; font-size: 12pt; line-height: 18.4px;">How many insurance options can they provide?<o:p></o:p></span></b></p></td><td style="background: rgb(222, 234, 246); border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 189pt;" valign="top" width="252"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 64;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">An insurance broker deals with many insurance companies and can provide you with a wide range of options and details.<o:p></o:p></span></p></td><td style="background: rgb(222, 234, 246); border-bottom: 1pt solid windowtext; border-left: none; border-right: 1pt solid windowtext; border-top: none; mso-background-themecolor: accent1; mso-background-themetint: 51; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt; width: 184.25pt;" valign="top" width="246"><p class="MsoNormal" style="line-height: 18.4px; margin-bottom: 0cm; mso-yfti-cnfc: 64; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Generally, an agent deals with one life insurance, general insurance, and health insurance policy and can provide details about those.<o:p></o:p></span></p></td></tr></tbody></table><h1 style="line-height: 36.8px;"><b style="mso-bidi-font-weight: normal;"><br /></b></h1><h1 style="line-height: 36.8px;"><b style="mso-bidi-font-weight: normal;">The Responsibilities of Insurance Brokers and Agents</b></h1><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;"><a href="https://alliedbrokers.com/" target="_blank">Insurance brokers</a> specialize in both insurance and risk management. Unlike agents, insurance brokers work, keeping in mind your stake and not for any insurance company.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Insurance brokers perform various responsibilities for consumers and businesses by searching for the most suitable insurance for them. If you contact an insurance broker firm for a quote, they will understand your requirements and find the right life insurance policy.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Brokers also search for ways to combine various types of insurances to get discounts or lower premiums. Since brokers do not represent any insurance company, their suggestions are unbiased and in your favor.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 17.12px;">On the other hand, insurance agents work as “captive” agents and typically represent one insurance company. Some often work as independent agents and try to persuade customers to buy insurance products of the company they represent.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Often, insurance agents representing a particular insurance firm may or may not have adequate knowledge and experience to advise you about the best life insurance policy for your specific needs.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Insurance brokers can help you explore policy options, compare, and buy the most suitable one by breaking it down to make you understand the process in the simplest way.</span></p><h1 style="line-height: 36.8px;"><b style="mso-bidi-font-weight: normal;">Should You Buy Life Insurance from a Broker or an Agent?</b></h1><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">It is not easy to recommend buying insurance products only from a broker or an agent.<span style="mso-spacerun: yes;"> </span>However, brokers should get the nod because they tend to have more experience and put consumers first.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Brokers deal with a diverse range of insurance products and have the right qualifications to suggest the ideal policies for your requirements. Generally, brokers provide more personalized and better quality service.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Besides, brokers provide full disclosure on commission rates for you to understand how much of your premium will go towards commission. This allows you to make a more informed choice when shopping for insurance.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">If you are looking to buy life insurance with cash value and use it as a part of your retirement plan, an insurance broker can serve you better due to their understanding of the market place.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">Unlike brokers, insurance agents usually sell the insurance products that will fetch them maximum profits. It is essential to keep this in mind when selecting between an insurance broker and agent.</span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; font-size: 12pt; line-height: 18.4px;"><br /></span></p><h2 style="line-height: 27.6px; text-align: justify;"><span style="font-family: inherit; font-size: medium;"><span lang="EN-US" style="line-height: 20.7px;">Also Read: </span><a href="https://alliedbrokers.blogspot.com/2018/06/life-insurance-questions-you-need-to.html">Life Insurance Questions you need to consider</a></span></h2><div><span style="font-family: inherit; font-size: medium;"><br /></span></div><h1 style="line-height: 36.8px;"><b style="mso-bidi-font-weight: normal;">Before We Go</b></h1><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">A reputable insurance brokerage firm can answer all of your questions about life insurance and guide you to have a solid understanding of the terms and rates of different policies.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span lang="EN-US" style="font-family: inherit; line-height: 18.4px;">It is also a fact that not all insurance brokers offer the same quality of service. This is why it is crucial to identify a reliable broker.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 18.4px; text-align: justify;"><span style="font-family: inherit;"><span lang="EN-US" style="background: rgb(254, 253, 250); line-height: 18.4px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">For details on life insurance policies, give us a call at <b style="mso-bidi-font-weight: normal;">1-888-505-7988</b> or fill out the </span><span lang="EN-US"><a href="http://www.alliedbrokers.com/phpbb/form2mailcontactus.htm"><span color="windowtext" style="background: rgb(254, 253, 250); line-height: 18.4px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">online contact form</span></a></span><span class="MsoHyperlink"><span color="windowtext" lang="EN-US" style="background: rgb(254, 253, 250); line-height: 18.4px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">,</span></span></span><span lang="EN-US" style="background: rgb(254, 253, 250); line-height: 18.4px; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: inherit;"> and we will be happy to help you.</span></span></p>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0San Francisco Bay Area, CA, USA37.8271784 -122.29130789.5169445638211556 -157.4475578 66.137412236178847 -87.1350578tag:blogger.com,1999:blog-4429083774000309960.post-42160582652700633842020-09-24T23:07:00.002-07:002020-09-24T23:11:55.281-07:00What Are the Settlement Options Available When Claiming Life Insurance Benefits?<p> <span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-align: justify; vertical-align: baseline; white-space: pre-wrap;">One of the common questions that life insurance policyholders ask is </span><span face="Calibri, sans-serif" style="font-size: 12pt; font-style: italic; font-variant-east-asian: normal; font-variant-numeric: normal; text-align: justify; vertical-align: baseline; white-space: pre-wrap;">“How will I get my insurance money after maturity?”</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-align: justify; vertical-align: baseline; white-space: pre-wrap;"> or </span><span face="Calibri, sans-serif" style="font-size: 12pt; font-style: italic; font-variant-east-asian: normal; font-variant-numeric: normal; text-align: justify; vertical-align: baseline; white-space: pre-wrap;">“How do I settle my insurance claim amount?”</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-align: justify; vertical-align: baseline; white-space: pre-wrap;"> Both questions are more or less the same. </span></p><span id="docs-internal-guid-5fd9852f-7fff-3812-c27b-7c25201edc2b"><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Do you have similar questions on how to settle your policy amount during the claim time of your whole </span><a href="https://alliedbrokers.com/life_insurance.html#term" style="text-decoration-line: none;"><span face="Calibri, sans-serif" style="color: #1155cc; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">life insurance</span></a><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">? There are a few options available which will be discussed in this post. </span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlc0lnk0FZymPUJ9k-lMCULSdMcpwzs9EKjCdojgBB2b9M35ap8FNw5M5z-YAQ40B5z0nmnuTjkj1ifhLdhOH1XPaMQSN7GnGSN6Rh2VXq7s9gT4qwedhV8TJasyYDNmCSYjiHJY9mSPS3/s352/good_news.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="352" data-original-width="332" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlc0lnk0FZymPUJ9k-lMCULSdMcpwzs9EKjCdojgBB2b9M35ap8FNw5M5z-YAQ40B5z0nmnuTjkj1ifhLdhOH1XPaMQSN7GnGSN6Rh2VXq7s9gT4qwedhV8TJasyYDNmCSYjiHJY9mSPS3/s320/good_news.jpg" /></a></div><br /><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Generally, the policyholder chooses one of the options for settling the claim amount, but</span><span face="Calibri, sans-serif" style="color: red; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> </span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">the survivor or beneficiary can also change the option when claiming it. On certain occasions, the chosen settlement option by the policyholder stands unalterable and the insurance company will pay the death benefit to the beneficiary through the default option the insurer selected.</span></p><h1 dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 12pt;"><span face="Calibri, sans-serif" style="font-size: 16pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">You Can Choose from These Four Available Options</span></h1><br /><ol style="margin-bottom: 0px; margin-top: 0px;"><li dir="ltr" style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; margin-left: -18pt; vertical-align: baseline; white-space: pre;"><h2 dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 2pt;"><span style="font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Lump-Sum Settlement</span></h2></li></ol><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Paying the death benefit as a lump sum amount is one of the frequently used options, which is generally the default option. In this case, the policyholder chooses to pay the beneficiary a lump sum death benefit. </span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">The beneficiary will get the total survivor benefit as a lump sum payment. Post-payment of the death benefit, the beneficiary will not have any financial transaction with the insurance company in the future. </span></p><ol start="2" style="margin-bottom: 0px; margin-top: 0px;"><li dir="ltr" style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; margin-left: -18pt; vertical-align: baseline; white-space: pre;"><h2 dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 2pt;"><span style="font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Specified Number of Years</span></h2></li></ol><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">A policyholder can select the option of paying the survivor benefit to the beneficiary over a specific period, generally over several years. </span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">For example, the policyholder may want the survivor to receive the benefit over a period of 15 years. Upon the passing away of the insured, the insurance company will split the total benefit into equal monthly amounts over the next 15 years and thus pay the beneficiary. </span></p><ol start="3" style="margin-bottom: 0px; margin-top: 0px;"><li dir="ltr" style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; margin-left: -18pt; vertical-align: baseline; white-space: pre;"><h2 dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 2pt;"><span style="font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Specific Amount</span></h2></li></ol><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">In this option, the policyholder can choose a certain amount payable to the beneficiary annually. The </span><a href="https://alliedbrokers.com/index.html" style="text-decoration-line: none;"><span face="Calibri, sans-serif" style="color: #1155cc; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">insurance company</span></a><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> will pay this amount to the beneficiary every year (or through monthly payments) until the total survivor benefit comes down to zero. </span></p><ol start="4" style="margin-bottom: 0px; margin-top: 0px;"><li dir="ltr" style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; list-style-type: decimal; margin-left: -18pt; vertical-align: baseline; white-space: pre;"><h2 dir="ltr" role="presentation" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 2pt;"><span style="font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Interest Only</span></h2></li></ol><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">An interest-only settlement is a less common option. In this option, the insurance company only pays the interest amount to the beneficiary. It means the beneficiary will get payments on the accrued interest from the death benefit amount. The principal amount will stay at the insurance company. In such cases, the policy owner would want to pay only the accrued interests to the beneficiary for a specific period. Eventually, the insurer will allow the beneficiary to receive the principal survivor benefit amount. </span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;"><span face="Calibri, sans-serif" style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Read Also: </span><a href="http://alliedbrokers.blogspot.com/2020/08/pandemic-affected-home-and-business.html" style="text-decoration-line: none;"><span face="Calibri, sans-serif" style="color: #1155cc; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Pandemic-Affected Home and Business Owners are now facing the Brunt of Wildfires and Extreme Weather</span></a></p><br /><h1 dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 12pt;"><span face="Calibri, sans-serif" style="font-size: 16pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Tax Consequences of the Settlement Options</span></h1><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Generally, the beneficiary does not have to pay tax on the life insurance death benefit. However, the interest that the beneficiary will receive on the survivor benefit is taxable as regular income. </span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">A beneficiary may earn interest on the death benefit in the following ways:</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In Case of a Lump Sum</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> </span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Amount:</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> For the single payment or lump sum option, a beneficiary may potentially earn interest on the principal survivor benefit amount if the insurance company delays processing. </span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">If the beneficiary does not receive the total survivor benefit from the insurance company within a specified timeframe (for example, within a month), the beneficiary is supposed to receive interest on the amount. </span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Additionally, the insurance company will also owe the beneficiary interest if the beneficiary could not file the claim right after the policyholder’s death. In this case, the beneficiary will receive interest for the time elapsed between the insured’s death and the filing of the claim.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In Case of a Specific Number of Years</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">: In this case, if the beneficiary does not receive the survivor benefit over a certain number of years, he/she is likely to receive interest for the missed payment period. Generally, this interest adds up to the remaining or outstanding amount payable to the beneficiary. However, the beneficiary will have to pay taxes on interest received. </span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In Case of a Specific Amount</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">: For this settlement option, the beneficiary will receive interest on the amount that remains with the insurance company. Here too, the interest generally adds up to the outstanding amount and the beneficiary will be paying taxes when he/she receives the interest payment.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">In Case of Interest-Only Option:</span><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> Lastly, when it comes to an interest-only option, the total amount that the beneficiary receives will be taxable, as the entire survivor benefit amount comprises interest earnings only. </span></p><h1 dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 12pt;"><span face="Calibri, sans-serif" style="font-size: 16pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Before We Go</span></h1><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">If you have questions about life insurance or are looking to enroll in one, our experts can assist you.</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span face="Calibri, sans-serif" style="background-color: #fefdfa; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Give us a call at our toll-free number </span><span face="Calibri, sans-serif" style="background-color: #fefdfa; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">1-888-505-7988</span><span face="Calibri, sans-serif" style="background-color: #fefdfa; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> or fill out the </span><a href="http://www.alliedbrokers.com/phpbb/form2mailcontactus.htm" style="text-decoration-line: none;"><span face="Calibri, sans-serif" style="background-color: #fefdfa; color: black; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">online contact form</span></a><span face="Calibri, sans-serif" style="background-color: #fefdfa; font-size: 12pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> and we will be glad to assist you.</span></p></span>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0tag:blogger.com,1999:blog-4429083774000309960.post-17928488509690377632020-08-27T07:30:00.000-07:002020-08-27T21:38:35.405-07:00Pandemic-Affected Home and Business Owners are now facing the Brunt of Wildfires and Extreme Weather<p></p><h3 style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span color="" face="" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">The Year of Turmoil</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">The year 2020 has already brought
some of the most demanding challenges in history. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">When the world is already grappling
with the onslaught of the COVID-19 pandemic, events of extreme weather, such as
a series of tornadoes, devastating wildfires, and an unprecedented 500-year
flood have hit the United States.<o:p></o:p></span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidJkA4JRQr7b-6jFpLVCv92mnzIdRe34dWy4WJ7O4L4AOEUH4fzKzsJAFYpjimYuT6OBSoYRthuxRw3_lpJIezSpJyLRF8C8m9l6Lgp1ovkXN7eK6Rhze2MDdI5Dkocpoz4ntm5_tUhynq/s626/Untitled.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="354" data-original-width="626" height="283" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidJkA4JRQr7b-6jFpLVCv92mnzIdRe34dWy4WJ7O4L4AOEUH4fzKzsJAFYpjimYuT6OBSoYRthuxRw3_lpJIezSpJyLRF8C8m9l6Lgp1ovkXN7eK6Rhze2MDdI5Dkocpoz4ntm5_tUhynq/w501-h283/Untitled.png" width="501" /></a></div><br /><span style="line-height: 115%;"><br /></span><p></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Over the decades, the state of
California has recorded some of the worst disasters in the country's history,
and 2020 is no exception. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">The ongoing wildfires have burned
more than 23,000 acres areas in California. On August 18 and 19, the state
authorities issued a mandatory evacuation order to residents in several parts
of the state, where lightning strikes fueled more fires.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">On top of it, California also had the
hottest ever temperature recorded on the planet on August 16 at Death Valley in
the Mojave Desert. There the mercury soared to 130 Fahrenheit (54.4 Celsius)! <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">The list for disasters does not end
here. California is also struggling with persistent blackouts because of the
worst heatwave in 70 years, which has left millions of people in the dark.</span></p>
<h3 style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span color="" face="" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">The Necessity of Homeowners
and Commercial Property Insurance</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">In addition to public health fallout
due to COVID-19, the recent wave of extreme weather conditions and other
disasters have made the matter worse for the people in the US. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">As of now in this year, there have
been more than 36,000 wildfires in the US, and California finds itself in the
middle of this mayhem. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">The sudden climate change, along with
severe weather, has put home and business owners in California at risk for
substantial financial losses if their properties do not have adequate coverage.
<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Considering the history of California
witnessing events such as floods, earthquakes, and wildfires, <a href="https://www.alliedbrokers.com/">insurance companies</a> offer relevant
coverage through <a href="https://www.alliedbrokers.com/home-insurance-brokers-near-me.html">homeowners'
insurance</a>, flood/<a href="https://www.alliedbrokers.com/earthquake_insurance.html">earthquake
insurance</a>, commercial property insurance, and other policies. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">As a homeowner, you need to make sure
that you have the right insurance coverage and proper limits. It would be a
nightmare to find out later that you have an unfunded insurance loss, or you
have to shell out money from your pocket.</span></p>
<h3 style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span color="" face="" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">Homeowners Need to Review
their Coverage Every Year to Mitigate Risk</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span>When natural disasters struck, they
may cause thousands of dollars in losses, and many homeowners often feel unsure
whether their properties are insured or underinsured.</span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Homeowners need to make sure they are
buying the right insurance policy to get appropriate coverage for these
situations. If unsure, they should right away talk to a leading insurance
broker to understand the type of policy they require. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Besides, homeowners need to sit with
their broker for an annual review to be sure that their policies provide
adequate coverage of their assets.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Currently, most homeowners/dwelling
insurance policies do not cover flood damage, and homeowners have to invest in
a flood insurance policy separately to cover the costs related to flood events.
<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">In recent times, many terms of
homeowners and dwelling insurance policies have changed. Some of these changes
include roof settlement provisions and percentage-based wind/hail deductibles.
Despite the spiking rates and deductibles, people still have choices when it
comes to homeowners insurance.</span></p><p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;"><br /></span></p><div>
<h3 style="line-height: 115%; text-align: justify;"><span style="mso-bidi-font-weight: normal;"><blockquote><span color="" face="" style="font-weight: bold; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">Read Also: </span><span style="font-weight: normal; text-align: left;"><a href="https://alliedbrokers.blogspot.com/2020/08/updates-on-unemployment-benefits-in.html">Updates on Unemployment Benefits in California during the COVID-19</a></span></blockquote></span></h3><h3 style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span color="" face="" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;"><br /></span></b></h3><h3 style="line-height: 115%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span color="" face="" style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: minor-latin;">Business Interruption Policy
Coverage Can Minimize Your Financial Risks</span></b></h3>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">The combined effects of ongoing
COVID-19 pandemic and natural disasters have interrupted business operations
like never before. Due to these reasons, commercial property owners have to
rethink about insurance policies to protect their assets from financial losses.
<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Commercial property insurance can
provide you coverage from property damages related to severe weather
conditions. Besides, the policy may also cover the potential loss of business
income due to weather events through business interruption coverage. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 115%; text-align: justify;"><span style="line-height: 115%;">Make sure to review your commercial
property and contents limits, along with your potential loss of business income
and additional expense coverage with the help of an <a href="https://www.alliedbrokers.com/index.html">insurance broker</a>.<o:p></o:p></span></p>
<div style="border: none; mso-element: para-border-div; padding: 0cm 0cm 1pt;">
<p class="MsoNormal" style="border: none; line-height: 115%; mso-border-bottom-alt: solid windowtext 1.5pt; mso-padding-alt: 0cm 0cm 1.0pt 0cm; padding: 0cm; text-align: justify;"><span style="line-height: 115%;">If you are a business owner, you need
to think about not just price but also the coverage you are getting. This is
where a reputable and reliable broker or agent can guide you to identify the
most appropriate policy options.<a name="_GoBack"></a><o:p></o:p></span></p>
</div><br /><p></p></div>Insurance by Allied Brokers http://www.blogger.com/profile/13355656571305797843noreply@blogger.com0