Which Comes First, The Baby or The Maternity Policy?
Can you get car insurance for the car you just destroyed in an accident? Can you get fire insurance for your home after your house burns down? Of course the answers are no.
Surprisingly I have recently talked to some folks looking for health insurance AFTER they have reason for a claim. One guy said he needed insurance because the doctor told him he needs back surgery and he can’t afford to pay for the operation. Just in the last 2 months I have spoken to three different women without health insurance, who just discovered they are pregnant and are looking for coverage. I’m excited for their good news, but the bad news is…it’s too late to get a policy.
Any insurance is for the unknown, the “what if” in life. Insurance is not an entitlement. Insurance carriers are companies like McDonalds or Exxon, they offer a product and expect to make a profit from it. You pay premiums and rarely have a claim? The insurance company loves you, you are contributing to their bottom line. You pay premiums and have lots of claims? You are costing the insurance company money, but in this case, lucky for you you had the wisdom to get the insurance before you needed it!
Accidents, illnesses and even pregnancies happen. Now, no one realizes more than me, not everyone can afford insurance. I talk to people every day that just don’t have the bucks for anything. Many that can afford it, can’t afford “good” insurance, so they’ll get something of a catastrophic nature, but that’s better than nothing! The bottom line is, you have to have common sense. And if you can afford health and/or life insurance, get it BEFORE you need it!
As a footnote. Those with limited incomes may qualify for certain programs that can help. Healthy Beginnings is a program in the Lancaster Area that aids pregnant women with the costs associated with delivering their child. Highmark Blue Shield has something called Special Care for individuals on a limited income that need insurance. Just about every hospital has their own program for helping with costs associated with surgeries, hospital stays and procedures based on need.
Will You Live Long Enough To Retire?
The headline is a loaded question. Many ways to answer, but here’s what I’m getting at…
While waiting to have my oil changed I picked up today’s Lancaster newspaper. My wife Lori is a native of Lancaster County and has obviously influenced me…as I felt myself opening up to…no, not sports…no not the local section…but rather to the… obituaries section! All Lori cares about (being Lancastrian to the core) is who died, who got divorced and who had a kid. Period. Debt ceiling? What’s a debt ceiling?
Anyways, it sure seemed like a lot of “young” people in the obits today. Of the 19 listed, 8 were 63 or less. 63? My in-laws are that age. My sisters are already that old. Wait, aren’t we supposed to retire at 65? How can we die before we got to live the good life in retirement? Don’t men live to be 78? And women, 80? Of course those are averages. I am surprised at how many make up the “less than average” group. Now this is a small sample on a given day, however…
Last month I looked at 2 consecutive weeks of the Sunday paper, which reprints the obits for the whole week. 1 in 3 did not make it to age 70. Since that discovery, I mention it to every couple I meet with. I ask, “At what age do you think you will retire? How long do you think you’ll live?” Minus the jokes we all make, the retirement number is mid 60ish, and the life expectancy is 80+ (surprise, nobody thinks they are average!)
Statistically, 1 of the 3 of us at the customer’s dining room table will not make it to 70. Not a happy thought. This brings me around to life insurance again. That measly $26/mo. policy I just wrote for a quarter milliondollars for 30 years on a 31 year old guy, might just get paid out. I hope not! But…
So what age do you think you’ll be when YOU retire? Here’s hoping you make it! And here’s hoping you’re insured even beyond that.
Is Your Life Worth A Dollar A Day?
This message is relevant any day of the week, for any man woman and child across our great nation…
How sad is the story of Shannon Stone, the 39 year old firefighter who tragically died while reaching out for a baseball at a recent major league baseball game? Incredibly sad, especially as his 6 year old son was by his side.
I imagine through his work his son and other family members will benefit from his life insurance. Though often the only life insurance one has is through their employer. Do you know what a dollar a day buys in life insurance for a 39 year old man? It could be a million dollars in term life for a healthy non-smoker.
What’s a dollar a day to you? A coffee at Turkey Hill? A bottled water at Wawa? A candy bar from a vending machine? A scratch and win lottery ticket?
I’ll bet you don’t have to think to hard to come up with the name of someone you know who died unexpectedly. My gut aches when I see people doing fundraisers for a family that lost a parent too soon. God bless the goodness of those who sell subs, hold a car wash or set up a golf tournament to benefit the family. But really, how much can that do?
When you add up the final expense costs, medical bills, lost income and other financial obligations, like mortgages, college educations and consumer debt, the number is often well into high six figures or low 7 figures. Most families struggle to make ends meet with 2 incomes, how can they do it with one income? A dollar a day.
Everyone’s situation is unique, and maybe a dollar a day won’t buy a million dollar policy. What if it was only 100,000 dollars? That’s still enough to have enormous impact.
What about you? Do you have life insurance? Do you own some outside of work? Do you have enough? Can you spare a dollar a day?
No More Pennsylvania Adult Basic!
As of 2/28/11 the state of Pennsylvania ran out of dollars to fund its’ Adult Basic health coverage. About 40,000 individuals across the Commonwealth are scrambling to get something in place. The options are many, the affordable options are few. I may be able to help. Give a call: (717) 468-0130.
Vision Insurance
This is the best deal in the business! For $3/mo for one person or $7/mo for the whole family you can have really affordable coverage for eye exams, glasses and contacts. Wathc the video, send me an e-mail (broweems@ptd.net) or give me a call (717-468-0130).
Do You Have Dental?
When I talk to prospective clients for health insurance, about half the time the question, “Do you have dental?” comes up. There are no really fabulous dental insurance plans and you can probably imagine why. An insurance company makes money when they don’t have to pay claims. Most people are very healthy and rarely have a claim, so the insurance company is making $$$. But give someone dental insurance and they’ll go as often as they can! That COSTS the insurance company money. Nonetheless, they are some possibilities. Watch the video, send me an e-mail (broweems@ptd.net) or give me a call (717-468-0130).
Am I Paying Too Much for Health Insurance?
Whether you are looking at your pay stub and looking at the deduction for your health insurance, or looking at your bank statement and seeing the autodraft of another month’s health insurance premium…from time to time you wonder if you are paying too much for health insurance. What should you do?
Should I Self Insure or Use My Employer’s Health Plan?
As the cost of health care rises in this country, employers may be paying less and less toward your health benefits. It’s very common for the company to pay a lot for you the employee, but very little for your spouse and/or kids. It’s worth it to look at options to self insure.
Catastrophic Health Insurance
Okay, so you’re super healthy, and rarely go to the doctor…AND you don’t want to spend a lot on health insurance. Perhaps the answer is coverage just for catastrophic events, major illness or horrible accident. But is this all you need?