Life Insurance Secrets You Need To Know
Life insurance is simple to apply for, but there are a lot of secrets most agents don’t know or don’t want to explain.
Starting off, when applying for life insurance, how do you know whether term insurance or permanent life insurance makes the most sense for you?
You could use the Genetic Crystal Ball Method to help you decide.
What about medical exam preparation?
Did you know that exercising five days prior to your exam increases your liver enzymes?
This can increase your rate significantly.
Were you aware that you can payoff your life insurance policy as early as 7 years, and be covered for life? Check out the blog section to read more about Life Insurance Secrets.
Beyond Life Insurance Basics
We all know the types of life insurance: term life, permanent life, and whole life. What about the special ways you can use each one? You can have more than one term life, and be strategic and efficient. Term life can be converted into permanent life insurance without an exam. You can get life insurance without an exam, and you can setup your life insurance to pay out to a trust instead of multiple people. Check out Beyond Life Insurance Basics to get an idea of the possibilities.
Which Medicare Plan Is Best For You?
You’ve seen the commercials, you might have heard about Medicare Advantage or Part C plans, but the one thing the commercials don’t tell you is which plan would fit your needs.
You have many options depending on your income and your needs.
You could get what’s called a Medicare Advantage Prescription Drug (MAPD) plan which is usually an HMO (some counties in California have PPO options) that covers a lot as long you stay in network and has low monthly costs.
You could get what’s called a Medicare Supplement with a Prescription Drug Plan (PDP) and have access to any doctor in the United States that accepts Original Medicare at a monthly cost from $100-$400 a month.
You also have the option to not get either of the above options and stay on Original Medicare by itself. If I were to advise you on doing anything, staying with just Original Medicare is by far the poorest option out of the three.
Original Medicare has expensive deductibles that need to be met, no additional benefits like dental, vision, hearing, or over-the-counter benefits, and it has no ceiling on the cost you will pay, we call that the Maximum Out Of Pocket (MOOP).
Most MAPDs have a MOOP, but Original Medicare doesn’t, so if you end up going to the doctor or hospital every other day of the year, you’ll be hit with bills after bills with no cap on how high the cost will go.