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Life & Health Insurance Information
Life and Health Insurance in Simi Valley, CA
Health and Life Insurance for Individuals and Families Throughout California
Taking care of yourself and preparing for the future is essential, but it can come at a cost. You don’t want to face financial insecurity just as you work to preserve yourself and the people you love. Here at Tailored Werks Insurance, we can help you get quality life and health insurance benefits that will be there for you at the times you need them most.
Our goal is to provide quality personalized benefits for the most important things in your life—your personal health and security, and your family’s future. The right life and/or health insurance will make sure you are able to do so, but to reap the greatest amount of benefits, your plan must be customized to you.
Call us at 805-558-8437 or request your free quote on a health or life insurance policy now!
What is health insurance?
Medical care is incredibly expensive, and in today’s world, if you don’t have health insurance benefits to help you cover your costs, obtaining health care services isn’t affordable. Though all plans vary, most will pay for:
· Standard checkups
· Surgical procedures and hospitalizations
· Prescription medication
· Assistive devices like diabetic testing items, wheelchairs and more
· Testing services like labs or x-rays
· Preventive services like vaccinations and routine screenings
Federal law mandates that nearly all plans must include certain coverage for various essential health benefits. Additionally, you cannot be turned down for coverage or be required to pay more for your plan because you have a pre-existing condition.
If you only want to insure yourself, then you can purchase an individual health plan. However, if you want a plan that will insure your spouse, children or other dependents, then you can choose a group policy.
How does health insurance pay?
The health insurance market varies considerably. Essentially, most plans pay in one of two ways.
1. Managed Care Plans: Can include health maintenance organizations (HMOs), preferred provider organizations (PPOs) and point-of-service (POS) plans. These plans provide services to their members and offer financial incentives to patients who use the providers in the plan network.
2. Fee-for-Service Plans: These plans generally assume that the medical professional will be paid a fee for each service provided to the patient. Patients are seen by a doctor of their choice and the claim is filed by either the medical provider or the patient.
How are my costs for care determined?
Depending on your plan and the service you receive, you might face different out-of-pocket costs, which include, but are not limited to the following:
· Your plan will include a carrier network that will let you know which physicians and facilities in your area accept your insurance. Visiting an out-of-network provider will usually cost more than staying in-network.
· Most plans will have copayments. These are small fees you pay when seeing a doctor. Your insurance may cover all or most of the remaining costs of care, subject to your deductible and plan type.
· You’ll often face a deductible, which is a set dollar amount that you must pay before insurance coverage for medical expenses can begin. You’ll have to pay the cost of your annual deductible before your plan starts to pay other costs. However, your plan may still cover portions of your medical bills before you meet your deductible, and coverage for many preventive care services (e.g., annual checkups) are not subject to annual deductible amounts.
What is life insurance?
Many people don’t realize the importance of having life insurance until it’s too late. Though it won’t pay out until your death, it’s important to invest in coverage early.
The sooner you get life insurance, the sooner you will be able to provide your family the assurance that they will be protected in the event of your death. Plus, by enrolling early, you will usually pay a lower premium over the life of your plan.
There are two primary life insurance plans:
· Term life policies last a set number of years. Coverage will issue payment if you die during the term.
· Permanent life insurance policies remain active indefinitely, as long as you continue to pay your premiums. Many offer cash-value accumulation and interest benefits.
In addition to the two primary types of life insurance plans, there are a variety of more specific policies that may suit your needs, including:
· Universal life insurance
· Final expense insurance
· Indexed universal life insurance
· Variable life insurance
· Variable universal life insurance
· Group life insurance
· Guaranteed issue life insurance
How does life insurance work?
On a life insurance plan, you’ll name a beneficiary who will receive a death benefit (which you choose) when you pass away. The benefit can be used for any purpose, but typically helps survivors pay for:
· Funeral costs
· Everyday needs and bills
· Debt settlements
· Targeted costs: like a child’s education or a parent’s nursing home needs
The good news is, you can leave the money to almost anyone (including charities) and the money won’t go through probate. Therefore, your survivors will get a settlement before anyone else. You might need to establish trusts or other beneficiary stipulations to govern payouts, but your insurance agent and your lawyer can help you work through this process.
In the end, your personal insurance options will prove instrumental in protecting your overall wellness and solvency. Don’t hesitate to explore your options for coverage, and carefully research which path is the right one for you.