Do you know what to do at the end of your 5-year, 10-year, or even 20-year term life insurance policy? If you are smart, you will quickly convert it to another insurance policy. But this option will not be as expensive as the 5, 10, or 20 term policy. That is why it is always best to start with a whole life policy, or purchase a 20-year policy. If you couldn’t afford to start with whole life, and needed a choice that was easier on your wallet, all is not loss. This is especially true if you find yourself with an unexpected health situation There are options for people like you who hold a term life policy. They include:http://www.houstonhealthchoice.com/what-is-a-health-insurance-denial/
• Convert your term life policy into a universal life insurance policy-
A universal life insurance policy is based upon term life insurance. It is a permanent but flexible choice when it comes to insurance. This type of policy is the kind that you can cash in if in need. You can decide what percentage of the insurance policy goes to death benefits, and how much to your savings account. The insurance company cannot stop you from converting your policy. This is especially important when you have an unexpected health issue creep up. Your family will be provided for financial even if you are not.
• Convert your term life policy into a variable universal life insurance policy-
This type of insurance policy is popular and permanent like the universal life insurance policy. This policy allows any extra money to go into a mutual fund, where it will net you more money. You can decide where your money goes.
Experts say that it where universal life insurance combines life insurance and savings, variable universal life insurance combines life insurance and investments. As with stocks, you can decide how aggressive you want to be with any combination of mutual funds, growth investments, or tax-deferred earnings.
• Convert your term life policy into a variable life insurance policy-
A variable life insurance policy is permanent life insurance that builds cash value. There is an investment component to this type of policy. You can choose to invest in stocks, bonds, money markets, and other investment choices to increase your yield. There is a built-in death benefit with this policy and you can take a loan from it. Only a licensed agent can offer these policies and they must present you with prospects before your transaction is complete. This type of policy is not for everyone because it can be quite costly.
• Convert your term life policy into a whole life insurance policy-
This is where you should have started from the get-go. Whole life insurance polices are expensive from the start, but are worth their weight in gold. The last until age 100, which means you won’t have to go through the whole term life insurance conversion process in the first place.need more information? go straight from the source.
No matter which type of conversion you attempt, it all starts with a knowledgeable broker, especially if you are considering universal or variable life insurance. Contact your insurance broker today.
A health insurance denial is not like a college application denial. If your insurance company denies your claim, you must get to the bottom of it. If not, you will be stuck with a huge medical bill. Did you know that unpaid medical bills are the number one reason people file for bankruptcy? Do you want to go that route? We didn’t think so. Look at our list and see what you can do should you receive a health insurance denial in the mail.
• Why were you denied?
Some people receive denial letters with minor reasons like they forgot to add some information to the form or that you put the wrong name of the provider or some other arbitrary detail. Other cases where a particular procedure is not covered by your provider are more troublesome. Find out the reason why you were denied will help you get to an eventual approval from the insurance company.
• Contact the doctor’s office-
Before you contact your insurance company, go directly to the ponds doctor’s office that you are dealing with. Make sure that you didn’t put the wrong name on your form. Make sure that your particular procedure is covered by the office. Maybe your insurance company is questioning the medical necessity of massage therapy for your ankle. Your doctor’s office will go to bat for you and provide proof that you need it in your recovery. If that won’t do and there is still a problem there, you’ll have to take your inquiry to the next level.
• Pre-authorization is crucial-
Just like with purchasing a house, if you have pre-authorization going into the situation, you are likely to have smooth sailing all the way out. If your medical procedure was already preapproved, you have a good case for knocking down any denial that may have come after the fact.
• Appeal if necessary-
Every insurance plan has a plan for patients to deal with denial should it come. You usually have a limited amount of time to do so, so don’t tarry. Most start with a phone call. Voice your displeasure that your case has been denied. Follow this phone call up with a paper trail. Write a letter expressing your concern. Keep a copy of any correspondence.
• Internal appeal-
An internal appeal goes directly to your insurance company. You give them all of the facts and beg them to reconsider their decision http://www.superfriend.com.au/uploads/publication/10/Mental-Illness-and-life-insurance-what-you-need-to-know-BB.pdf
• External appeal-
Whereas you had been working within the confines of an insurance company, an external appeal goes beyond that boarder. An external appeal would consist of experts in a field who can judge without bias. The only time that an external appeal would not work would be if your insurance company is a self-pay. This means that the insurance company pays for all claims. In that case the buck stops with them and with your internal appeal.
State and federal laws have a set of mandates and bylaws by which a health insurance company must abide. With these forces, and the words in your appeal, you can turn an insurance denial into a health insurance approval.
You hired a broker because they are experts in their field and will get you the best value for your money. Health insurance brokers know things about the insurance company that lay people do know. Many insurance brokers do not trust insurance companies. Many insurance brokers know to ignore the billed amount on their claim form. Many insurance brokers ask for help. They think that you should too. They know ways to increase the value of your health insurance policy. Here are their suggestions:
1. Don’t blindly trust the insurance companies-
Like everyone else, they make mistakes. Although their work is altruistic in theory, they are in the business to make money. We’ve all heard the stories of denying a claim because it will cost the insurance company too much.
2. Check the prices you are being billed on your claim-
Your insurance company will bill your doctor’s office the maximum amount of money so that they can get the maximum amount of profit. A way to get around being billed higher than you should is to ask for question if every billed amount is correct. If you can pay cash for your services, do so and compare the insurance versus cash prices.http://en.wikipedia.org/wiki/Medicare_%28Australia%29
3. Don’t be afraid to ask for help-
Certain non-profit organizations make advocacy their business. They advocate for those who don’t know the inner-workings of the insurance companies. It is a broker’s job to know all the little secrets that can help save them big. Use this resource as a way to save you money.
4. Get in their face when needed-
If you are given an out-of-network provider without your consent, you may receive a bill. If this is an emergency situation, all hands are tied. If this is a planned surgery, you have an option. You can tell the insurance company that you won’t pay the out-of-network bill because you did not know. If you handle it right, they will back down and revoke the bill.
5. Know the appropriate coverage limits for your state-
Some medical procedures are covered in some states, while omitted in others. Expensive therapies like infertility, bio-behavioral concerns, and mental health can carry quite a hefty price tag. Insurers don’t want to cough up the dough if they don’t have to. It is your job to find out the things that are covered under you policy and things that are not. Your state’s insurance commissioner should be able to help you navigate limits in your state.visit this website for more details.
6. Mention your symptoms-
Costly medical procedures like transplants, open heart surgery, and tracheotomies can cost upwards of one million dollars. Insurance companies may not bristle at covering those costs, but may not want to pay for your smoking cessation sessions. Let them know the ill effects long-term smoking has done to your body. Let them know that you are committed to quitting but need some help. Quitting will help your overall health in the long run.
An overhaul to the insurance companies’ business-as-usual is why the Affordable Care Act was launched. Looking at the way some people have to beg for their health insurance companies to cover their symptoms make you understand why these companies need to change the way they conduct business. Insurance companies should know that if they kill off all of their customers, there will be no business for them, in the long run.
Why do people decide to purchase term life insurance? One of the top reasons is for its cash value, but that really isn’t a smart move. Term life insurance provides coverage (or payments) for a fixed amount of time (5, 10, or 20 years.) If the insurer dies, benefits are paid to beneficiaries. The best reason to buy term life insurance is to pay off your bills and provide for your beneficiaries. There are mistakes to avoid when it comes to purchasing a term life policy. Here is a rundown of things not to do.http://www.houstonhealthchoice.com/6-ways-for-brokers-to-increase-health-insurance-policy/
1) Be sure to purchase your policy from a stable company-
In your time of need, you’d hate to run the labyrinth that can be your insurance company. Some smaller companies become gobbled up into larger companies. This makes contacting an agency a near-impossible chore. The best way to avoid this run-around is to skip unstable companies that may not be around in the long run. Stick with an established company that has been in business for many years. Your insurance broker knows the difference between the two and will be able to help.
2) Be sure to purchase enough insurance to replace your income-
What is your life worth? You will have to answer these questions when it comes time to purchase your policy. If you go through the trouble of purchasing an insurance policy, be sure to purchase enough. Consider that your loved ones will be saddled with mortgage, bills, and later, higher education costs. They may also have to cover your final hospital bills. The experts suggest that you purchase 10 to 12 times your income. This will give your family enough money and time to figure out their next steps without you. Having enough money not to worry will make those next steps a little more tolerable.
3) Be sure to purchase life insurance in a timely manner-
We have to face the fact that as we age, we will have more health problems. It is wise to purchase a life insurance policy as early as possible. Now you understand those Gerber Life Insurance envelopes, don’t you? It is a sad fact that tomorrow is not promised to anyone. It is best to have a quality life insurance policy in effect for your family so that your family will be provided for, should the unthinkable happen.
4) Be sure to pick the right tem-
In general, life insurance policies come to cover 5, 10, and 20, and even 30 years of insurance. It may be more economical to purchase that 5 year term, but what if you fall ill, you may not be able to renew that 5 year term because of your pre-existing health issues. Health insurance changes have not changed how life insurance policies work, regretfully. It is best to purchase the longest term so that your policy will outlive you.
5) Be sure to limit your riders-
Insurance riders actually offer little more than a comfort when you are purchasing life insurance. You like the thought of income replacement or accidental death, but they have actual value. Don’t increase your monthly premium by adding on these costly others.
Purchasing life insurance can be a daunting task. It can be made easier when you know the mistakes to avoid.
Car Insurance Coverage Types
For a new driver, it can be difficult to understand the varying types of car …..Short Term Car Insurance Explained
Short term car insurance is a specialized type of car insurance that, as its name suggests, only covers you for a short time. There are times when you simply do not need a full-blown insurance policy. One such time is if you are renting a car. Another my be if you are borrowing a car. A third use for short term car insurance is when you are purchasing a new car and have not yet decided on a full insurance policy. There are many more reasons why people use short term car insurance.
Short Term Car Insurance Explained
Short term car insurance is a specialized type of car insurance that, as its …..
People sometimes simply find it beneficial to use a short term car insurance policy while they hunt for a better deal on car insurance. Some people get short term insurance to cover their children while they are attempting to become licensed drivers. They give their children a short time period and then they are expected to find their own insurance policies.http://www.budgetdirect.com.au/
Sometimes friends or family will take turns driving on a long cross country trip. In this case, you may just wish to add the additional person to your car insurance to make sure you are fully covered in the case of an accident. Why pay for another full blown insurance coverage when you only need short term car insurance?
Finding the Best Car Insurance on a Budget
When shopping for car insurance, it is tempting to accept the …..
Many times you can quickly purchase a short term car insurance policy on the Internet. Some people do this when they go to purchase a car and their current insurance coverage does not cover new car purchases. It only takes a few minutes to purchase the insurance and then you are on your way. Short term insurance can cover more than just liability or collision. If you bought a lemon, your policy may have free towing so you can send the car back where you got it and get a temporary rental car for free to get you where you need to go.
Anyway, you get the idea that there are many purposes for short term car insurance. It is basically insurance you buy when you have short term car insurance needs of any type. With short term car insurance, you don’t typically have to fill out as detailed of a questionnaire as you would with a regular car insurance policy. The main concerns are that you purchase the insurance from a company that regularly provides this type of insurance and that you don’t get charged too much. A quick search of the Web can give you an idea of what you should be paying for short term car insurance.check this link for more updates.
Get an Instant Car Insurance Quote
Most states now require that drivers carry some level of auto insurance coverage. Additionally, the number of drivers across the country continues to rise. As these two trends continue, the automobile insurance industry is booming. There is more competition than ever for nationwide car insurance. Some of these companies compete by offering the cheapest insurance possible. Other companies compete in the nationwide car insurance market by offering the best customer service possible. And most companies fall somewhere between these two extremes. Among the best of these nationwide car insurance companies providing a balance between price and service is a company aptly named Nationwide Insurance.
Nationwide Insurance has long been one of the leading nationwide car insurance companies. However, as customers demand both fair prices and good service, Nationwide Insurance has been making a move toward the top of the industry. They also take part in other types of insurance offerings, as well as financial investment solutions. Often they offer customers more than one type of service an additional loyalty discount.
General Car Insurance Tips
Just as most parts of modern society make driving a car a necessity.
In this article we are talking most specifically about Nationwide car insurance offerings. You can go to Nationwide’s site for a quote, or call your local Nationwide Insurance agent. You will want to be sure that you are comfortable with this agent, as this will be the person you will be dealing with locally if you purchase a nationwide car insurance policy.
Nationwide car insurance policies are best suited for those looking for affordable high-quality coverage. It is not necessarily the best company for those just trying to pay the least possible to be street legal. In case of an accident, however, you’ll appreciate knowing that you have a nationwide car insurance policy. Their best policies are the full coverage policies that include collision coverage, comprehensive coverage, towing coverage, uninsured motorist coverage, and labor coverage.http://www.nationwide.co.uk/products/insurance/car-insurance/what-we-cover
While a Nationwide car insurance policy is respected for quality service, there are other benefits to its service. For one thing, Nationwide Insurance is indeed a nationwide car insurance company in that when you’re traveling around the country there will always be a local company service available. That is one thing many insurance discounters just can’t offer. Only Nationwide and a few other nationwide car insurance companies such as State Farm and All State can offer that kind of nationwide service.visit this website for more details.
Finding Inexpensive Car Insurance is Easy
If you drive a car then you should have car insurance. Most states require at least some car insurance by law. Most people find the first insurance company in the phone book or call the first insurance company that comes to mind and buy a policy. The odds of getting inexpensive car insurance in this manner are not good. Most people don’t realize just how different car insurance premiums can be from one company to the next and from one customer to the next. This article will give you a few things you need to know to go out and find inexpensive car insurance.
First, the more quotes you get the better your odds of getting inexpensive car insurance. As mentioned, going with the first quote you receive is not a good idea. Further, the insurance company may not offer the policy terms you want or need.
Dealing with Car Insurance Claims
One of the most stressful events that people face is having a car accident.
Second, consider a higher deductible. If you have a steady income, you may not need the insurance company to pay in full for every ding you get or give. Having a higher deductible will give you a better chance at inexpensive car insurance. In most cases, the money you save on insurance by raising your deductible will more than counter your deductible for a rare accident.http://www.progressiveonline.com.au/cheap-car-insurance.aspx
Third, if you do not have a car loan and your car is no longer worth much money, you probably don’t need collision coverage on your own car. A good driver will end up paying more over the years for collision insurance than he would pay to cover one or two accidents in a car that has little value. Why not save the money by going with inexpensive car insurance options?
Cheap Car Insurance Works for Some
Car insurance prices are based on mean average statistics.
Fourth, don’t hesitate to ask the insurance agent if there are any special discounts they offer for which you may qualify. There are a wide variety of behaviors that insurance companies have associated with lower accident risk, and they are willing to give customers with these behaviors inexpensive car insurance. There are discounts at some car insurance companies on everything from whether you smoke to how good your grades were in school.
Finally, even if you have already done all of the above and have a good inexpensive car insurance policy, it is important to remember that things change over time in the dynamic insurance industry. You should review your policy every couple of years to make sure it is still serving your needs. You should also get quotes from other insurance companies every couple of years to make sure you are still getting an inexpensive car insurance policy.read this post, for more information.