What It Does
Health Insurance protects peoples' assets from being taken or spent in the event of a financially draining illness or accident. People work all their lives to build assets and if not protected, these assets can be taken very quickly to pay the bills. This insurance often has added benefits such as discounts and preventative care. Your goal in health insurance should be to find the product that fits your individual need at a cost you can afford.
What Types Are There?
Affordable Care Act(ACA) Plans and Short Term Medical Plans. ACA plans have no pre-existing condition clauses and can be purchased with a tax credit through the Your Health Idaho Insurance Exchange. These tax credits reduce the cost of premiums each month and are based on your income and number of dependents claimed on your taxes.
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Call NowWhen Can I Purchase Regular Health Insurance?
Open enrollment for ACA plans begins October 15 of each year and goes until December 15th for coverage that begins January 1st.
Special Election Periods (SEP) allow you to sign up at different times throughout the year. Special Election Periods cover the circumstances of a qualifying life event, such as losing group coverage, turning age 26, and a variety of other reasons.
Why Life Insurance
Life insurance has many purposes. One general purpose of a life insurance policy is to replace income if the insured dies prematurely. It gives peace of mind to the insured knowing the monetary insurance benefit is given to the insured's family or survivors. It's as though that individual is still generating income for their loved ones. The insured knows that if something happens to them, their family will be taken care of.
How do I determine how much life insurance is needed for me and my family?
Most families don't know what their future financial needs may be. Start with current needs and resources. Second, identify your future financial requirements, including hopes and retirement dreams. Third, match products and services to find the financial solutions your family will require for a secure future. When completed, peace of mind is the result.
What's available to me if I own a business, have a large estate, or have complex financial needs?
Together, using a team approach with your insurance/financial advisor, attorney, accountant, and other advisors, solve complex financial problems that businesses and estates experience at the death of owners before they happen. You will experience peace of mind knowing that you've used properly crafted legal documents and financial products to take care of your most important challenges.
How do you figure the right amount of insurance?
This is subjective and should be discussed with your family and business partners. A few things to take into consideration are:
- Burial Expenses
- Current Total Debt
- Surviving spouse's ability to generate income, educational degree, and work history
- Survivor income needs
- Children's education expenses
- Children's wedding expenses
- Mission Expenses
- Emergency Cash Funding
- Business relationship funding for Key Man, Buy/Sell agreements and deferred compensation
Disability insurance secures an individual's income at least partially if he or she is disabled because of an illness or injury and unable to continue doing their occupation. Policies vary in what the definition of a disability is. Some policies pay a claim if the insured is unable to do the job they are qualified to do. For example, a surgeon is highly payed because of the special duties he can preform. If something happens to him and he is unable to perform surgery, then it is unlikely that anything else he does will give him the income he had before. A properly structured disability policy replaces that lost income.
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Dental Insurance is for care of teeth, gums and mouth. Generally its greatest benefit is that of preventative care (dependent on plan), but also assists in larger expenses after certain participation periods have been met. Click on the link below to see rates and benefits for one of our preferred provider of dental insurance.
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Vision coverage gives peace of mind knowing that money will be saved on visits to the optometrist. Those with vison coverage are much more likely to take proper care of their eyes. Click the link below to see options offered for individuals.
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