Frequently Asked Questions
What is disability insurance?
Disability insurance is basically income protection if you are disabled because of an accident or illness and cannot work. This is long term protection that provides monthly benefits to you after a certain waiting period that could be 30 days up to a year. Coverage options are available for 2 years up to age 65.
How much coverage do I qualify for?
Disability benefits are dependent on your current income and how long you have been working in your employment. There is an underwriting process and if you are in good health, the premiums are best rates. You can also apply for overhead expense coverage for your business if you become disabled.
Will my premiums go up or will my benefits change over time?
Your premium payments will stay level during the term of your policy and would only change if you purchase additional coverage. Most plans are non cancelable and guaranteed renewable. Plans also include cost of living adjustment (COLA) riders that increase your disability benefits over time with the cost of living.
Long Term Care.Q- When is the best time to consider Long Term Care coverage?
Most clients should consider looking at Long Term Care in their mid 50’s to early 60’s. Remember, Social Security and Medicare do not cover long term care benefits. If you have a special family history you might consider applying earlier. There is an underwriting process and good health will buy the best premiums.
Can I receive both home health care and nursing facility care?
In California, all long term plans must offer some home health care in addition to nursing facility coverage. Some plans offer more coverage than others and clients should certainly do a comparison.
Should I consider buying one of the California Partnership plans?
The California Partnership of Long Term Care is a select group of Insurance carriers who offer special consumer protection features and the Medi-Cal Asset Protection benefit. This “lifetime asset protection”asures that catastrophic long term care expenses wont’ reduce you to Poverty even if you run out of insurance benefits.
Are there different kinds of Life Insurance ?
There are several types of life insurance- The principal types are Term, Universal Life and Whole Life Insurance. Term Insurance provides benefits during the term of the policy, from 1 up to 30 years. Both Universal Life and Whole Life plans are permanent type of plans that provide benefits whenever you die, up to age 100 or beyond! These plans also have cash values available.
How much insurance do I need?
When doing your insurance or financial planning, clients need to look at a broad range of special situations or considerations. These include providing replacement income for your spouse and dependents, final expenses, passing assets to heirs, paying state or federal estate taxes, funding a trust agreement or making charitable contributions.
Is Life Insurance very expensive?
The simple answer is no, it’s much more expensive when you have no life insurance. There are many affordable options for every client and situation. We provide many competitive plans from the top insurance carriers in the country today.
What kind of health plans are currently available to me?
In California, there are several health plans available to individuals, families and business groups from Anthem/Blue Cross, Blue Shield, Health Net and PacifiCare/United HealthCare. They include HMO, PPO, and H S A Compatible plans.
What kind of things should I look for in comparing health plans?
When deciding on a good health plan, people should always look at the costs,annual deductibles, the doctor visit co-pays, the coinsurance percentage, the annual out-of-pocket maximum and the lifetime maximum. You should also look at the hospital networks and physician providers.
Are there any agent fees or charges to apply or see a proposal?
No, there are no charges to see quotes or a plan proposal. If you apply for one of the health plans, you will have to pay the premium directly to the Health Company. They offer monthly and quarterly payments.
Where can I find the best information for Medicare Supplements and Part D Prescription Drug plans?
The best website out there is: Medicare.gov. Just in Alameda County, there are over 25 different Medicare Supplements and 47 Part D Prescription Drug plans available. You can see both benefits and rates. If you have any questions, please contact me anytime.
If you have any problems or questions, please contact the Medicare staff directly at: 1-800-Medicare (1-800-633-4227).
Do all the Part D Prescription Drug plans offer the same coverage’s ?
Before you select the right Part D plan, you need to look at the benefit overview. There are 47 different plans offered here in Alameda County alone. All plans offer both generic and brand drug coverage, but each one may offer different monthly premiums, copays and limitations. Select the one that best covers your prescriptions for the best cost.
If I need Dental or Vision coverage, do most Medicare Supplements offer these kinds of benefits?
Most Medicare Supplements do not cover any dental, vision or acupuncture coverage. Please review what is and what is not covered with the plan that you select. Although some Medicare Advantage plans may offer some of these types of special benefits, most do not.
There are stand alone dental and vision plans available for Seniors.