We are pleased to announce that we will be adding more services to our business.We are currently offering the following Insurance Products:
Medical Supplement Plans (Including Dental and Vision)
Short Term Medical Plans
Long Term Care
Medicare Supplemental Plans
Medicare Advantage Plans
We are currently contracted with the following companies:
Mutual of Omaha
Shenandoah Life Insurance-Medicare Plans
Capital Blue Cross
Thirvent Financial Medicare Supplemental Plans
Broker Aflac Insurance.
Licensed Independent Insurance Producer in 7 States including Maryland and Pennsylvania.
Certified Federal Marketplace Individual and SHOP
Explain Term Life Insurance and Its Various Important Aspects
If you want to buy life insurance, you are undoubtedly looking for options. The first step in buying a policy is to decide between whole and term life policies. In order to make the right choice, you need to understand the pros and cons of these coverage plans. So, it is important that you visit experienced agents and request them to explain term life insurance and whole life insurance. Here is an overview of term coverage policy.
An explanation of term life insurance
Term coverage is essentially a policy that is offered for a fixed term of say, 10 years, 20 years, or 30 years. You can choose the term you think is best suited for you. The policy ends after the chosen term and does not exist till the end of your life. However, you can extend the term after maturity. Premiums increase when you renew. In case you over live the policy term, you do not receive any benefits. However, if you die within the term, your family or the named beneficiaries receive full financial benefits of the coverage amount.
Premiums for term life cover are very low because these policies do not offer anything other than death benefits. Premiums depend on the term duration. Shorter the duration, lower the premiums. Whole life policy, on the contrary, extends till the end of your life. These policies charge high premiums because they offer cash value on the premiums you pay. Premiums remain constant all through the term period if you buy fixed term life policy. So, you can enjoy good coverage at consistently low rates all through the policy term.
Is term life insurance the right choice?
Many people think numerous times before buying term policies. This is because the policy does not offer cash value on the premiums you pay. However, this is not actually a liability because you get to save a lot of money on the low premiums.
Here is an example. For a 25 year old person, a $500,000 term policy costs about $200 per year in premiums depending on the term. If you buy a whole life policy for the same amount, you might have to pay as much as $1000 per year, which is way above the costs of term policies.
Term coverage is good for young people who want more flexibility. and freedom to make multiple investments. Since you save money on premiums, you can invest in other entities such as retirement funds, real estate and other savings plans. So, your investment grows by the day. At the same time, you also have good life coverage. In whole life cover, you lose out on this benefit.
Death benefit is tax free
The biggest benefit of term coverage is that the death benefit your family receives is tax free. For whole life insurance, you need to pay tax on the cash value you obtain because it is counted as additional income. So, at the end of the day, you are not left with much in the name of cash value. With term cover policy, your family does not have to worry about taxes.
So, term life policies are good in a number of ways.Contact us today for a detailed explanation of term life insurance.
Life Insurance - The Promise We Made
Life insurance goes beyond a transaction with a trusted insurance agent and a monthly cost. Many people in America purchase life insurance. When they are approved, they stick the policy certificate in the filing cabinet and forget about it. Most of us, subconsciously, think we are immortal and we will live a full life and pass on due to old age. One defining moment in time can change all of that, all in a flash.
The unfortunate thing is, accidents and illnesses do not discriminate. One day everything could change forever. When it happens you start asking yourself: Why us? Why now? The real world kicks you hard when you are down. On that day, you have to stand up and look at your family and say, "I did plan for this to happen, everything will be OK. I made a decision years ago to protect all of us."
Maybe you did not plan for it. You still have time, but you have to act.
If someone becomes seriously ill, there is life insurance available that you do not have to die to use. Benefits are payable directly to you while you are still alive. This buys you time so you can focus on your family and your health. Life is a challenge when we do not have either one. The living benefits of a life insurance policy, if available in yours, will give you that piece of mind.
Even beyond the living benefits, the face amount of the policy, is equally important. Even if it is a topic that your family does not like to discuss, you still need to address it. Aside from the void that is left in your family once someone is gone, your family loses their ability to maintain the family's standard of living. Many forget about this. Just paying off the mortgage, covering burial expenses and a little bit of cash in the bank is not enough anymore. Most likely, your income covered more, such as food, clothing, education, and maybe some family entertainment every now and then. All of that will be gone if you do not do the proper steps to plan. The planning will allow your family to continue with all the things they enjoyed.
It's the promises we keep, while we are still enjoying the family, that is so important. Once our time comes, we cannot go back and change it. Even procrastination is a major sore point for families. Putting off the proper planning could result in the inability to qualify for what you need for your family; what they deserve. Time could be your worst enemy in this case. It is up to you, but waiting may prevent you from making that promise to your family. Make and hold that promise now.
Health Insurance - How It Works
Without health insurance, a single illness can cause serious, and often irrevocable, financial hardship.
Insurance of any kind is intended to transfer financial risk to an insurance company in exchange for a reasonable insurance premium. Where most insurance coverages pay once a loss has occurred, health insurance has the added benefit of paying to keep your loss from getting worse.
Health insurance is probably your most important coverage since it can be the difference between life and death.
Fortunately, most employers offer some form of health insurance. Often you will have to select from several different alternative plans with differing coverages and premiums.
There are two broad categories of health insurance coverage. One is fee-for-service and the other is managed health care. Under managed health care there are health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point-of-service (POS) plans.
Fee-for-service and managed health plans have distinct differences in the amount of control the policyholder has in choosing doctors and hospitals. Fee for service plans offer you the greatest amount of choices, allowing you to select doctors and hospitals based on your needs and preferences. This greater amount of choice comes at a cost, fee for service plans are usually more expensive than managed care plans.
Under a fee for service plan, your doctor will submit a bill to your insurance provider, or, if he or she does not have a relationship with your provider, you may have to pay the bill directly and get reimbursed by your provider. Under this plan you can see any doctor you wish. You will most likely be responsible for a percentage of every expense, often 20%.
Fee-for-service plans also have an annual deductible; these generally start at $100 for individuals and $500 for families. Generally speaking, the higher the deductible, the lower your premiums. Before receiving the reimbursement you'll have to pay the deductible amount.
If your doctor charges more than is "reasonable," you will have to pay the difference. You can appeal this if you feel the doctor is charging the same as the other doctors around your area.
Under fee for service plans there is usually a limit to how much you will have to pay before the plan reimburses you at 100%. Some plans also have a lifetime limit on benefits, usually at least $1,000,000. This seems very high but it is not uncommon in serious situations that this number is met.
There are three major types of managed care health plans: HMOs, PPOs, and POSs. Many of these plans charge a co-payment of $10 or $20 a visit. The disadvantage of an HMO is that you must use the doctor and hospitals that participate in the plan. The premiums are generally lower than fee-for-service plans.
With a managed care plan you will have to select a primary physician who will be responsible for coordinating your care. You will need to be approved by him to seek care by a specialist. You must also get authorization for any hospitalization you may require. As you can see, the lower premiums associated with managed care are the result of allowing the managed care provider to make many of your health care decisions for you.
PPOs and POSs differ from HMOs in that not only do they have a network of providers, but you are also allowed to use physicians outside the network.
If you choose not to utilize the coverage offered at work, or if no coverage is available through your employer, you could get your own personal policy or go through a group. Group policies have lower premiums. Also, some group policies do not ask questions about your health. Nevertheless, some policies will not cover pre-existing conditions for up to 12 months. You will want to understand all the pre-existing limitations that your coverage includes. If you have had health coverage for at least 2 years and change employment you won't be affected by the exclusion.
If you are terminated from or leave a job where health insurance was provided for you, the government has established guidelines for maintaining your old coverage at your own expense until you can find new coverage.
Need a quote for a Health Care Plan?? Life Insurance??? Major Medical Plan??? Medical Supplemental Plan???? Medicare Supplemental Plans,Disability Plan??? Long Term Care Plan?? Call us today!!!! We offer Group and Individual Plans.Certified on the Marketplace for Individual and SHOP Plans.
David M.Green Bookkeeping and Tax Service has partnered with Cunningham Insurance so we can expand our Insurance Services and offer top level customer service.I am licensed to sell insurance in Pennsylvania, Maryland,District of Columbia,Delaware, North Carolina, Virginia and West Virginia.I am also certified through the Federal Market Place.