There are different types of life insurance policies. Here are a few of the most common: Whole Life Universal Life (UL) Term Life Return of Premium Term (ROP) Whole Life is the most traditional and considered to be permanent life insurance. It pays WHEN you die and builds cash value over the years as you
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The simple answer to this question lies in the answers to a few others. What are you trying to insure? For how long do you need to insure it? Here are some common answers: Replace lost income, family protection Pay off debt like credit cards, large loan or mortgage. Pay for kids’ college funeral and
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To answer this, let’s look at what a Dr. Office copay actually is: a flat rate that pays for an office visit and some treatment performed inside the doctor’s office. This often does not apply to lab work or x-rays. As always you’ll want to refer to your policy for clarification. Ask yourself: “How many
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Coinsurance is also known as ‘Rate of Payment’. This is the % that the insurance company will pay AFTER the deductible has been met. Health insurance policies can have different coinsurance percentages so be sure to read your policy docs and ask your agent if you’re unclear. Most common options are: 100%, 80%, and 50%.
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