Choosing Medicare Supplemental Insurance

by admin on October 29, 2012

Medicare is a government insurance program which covers clients for basic health care needs. This includes visits to hospital, a stay in a hospital or hospice, or staying in a nursing facility. Parts A and B together provide inpatient and outpatient care, the costs of some equipment, nursing support, and certain preventative services. Part D looks after pharmaceutical requirements. There is an annual fee for owning one of these policies.

What does Medicare not cover? There is no money for clients who want cosmetic treatments such as Botox or laser skin treatment. Medicare is not responsible for dentures, hearing aids, eye tests, or teeth cleaning. Acupuncture is not covered and this is also the case with many types of alternative care. For more on what Medicare does and does not cover, you can enter in specific queries on this government page.

If you want to create a more comprehensive insurance plan for yourself and your family, it is advisable to purchase Medicare supplemental insurance. Policies are available privately through companies which sell Medigap insurance, but they can only be purchased when the client already has Medicare parts A and B. Each policy is for one person at a time. Medigap will not cover long term dental, vision, or hearing problems and accessories, but there are other ways in which a policy can be of practical help to a consumer.

For instance, if you travel outside of the U.S. regularly, there is a solid risk you will need care during one of these trips. If you are injured or become ill, having Medigap will help you pay for treatment. After retiring from work, group coverage is typically no longer available to a client. This would have been his or her supplemental policy. Now it is important to find coverage independently.

Search for a plan according to your budget. Each policy will pay for certain things such as receiving a blood transfusion to a certain limit or co-insurance. Medigap could cover you once you exceed your limit on medications bought using a Medicare plan.

Not all doctors or hospitals will accept Medigap or Medicare coverage. You must check beforehand if you seek care at a facility. Also, each state and every company is different, and not everything is offered everywhere. There are some legal minimum limits, and regulations as to who qualifies for Medigap.

Also, sometimes the cost of treatment is determined by the result. For instance, if you go to an emergency room but are not admitted, this will affect your deductible with Medigap. They will pay for more if you have to stay in hospital, but you will have to repay some of the money if you are sent home.

The options are pretty vast and can get quite complicated. As always, it is best to consult with your insurance agent to choose the coverage that will be best suited to meet your needs.

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Why You Should Have A Burial Insurance Policy

by admin on October 4, 2012

Surely nobody likes to contemplate their own demise, but it is an inevitability staring at all of us. With our passing comes the need to take care of our final arrangements. What is to be done with your remains? Will you be cremated or do you prefer a casket and burial? Do you want a big funeral for friends, family, and acquaintances, or do you prefer a smaller ceremony for just those closest to you? What about a casket, headstone, or urn? More importantly, who is going to pay for all of this, ensuring your final wishes are carried out? If you want to avoid leaving this financial burden on your loved ones, you might want to consider a burial insurance plan.

Suffering through the loss of a loved one is difficult enough without being handed the tab for the funeral on top of it. A burial insurance policy, or sometimes known as a funeral insurance policy, can be setup in advance to take care of the costs associated with your final wishes. The policy can cover things like the casket, burial plot, flowers, headstone, memorial service, transportation of your remains, and even fees for the minister of your service.

The overriding advantage of such an insurance policy is it provides a fairly simple way to plan, arrange, and fund your funeral all in advance. This leaves you with the peace of mind knowing that you did all you could to help them in dealing with a difficult situation without the added discomfort of hastily planning and making all these arrangement themselves.

It is also worth noting that funeral costs can easily tally up to a minimum of $5000, and costs in excess of $15,000 are not unheard of. That is why so many people decide on a funeral insurance policy rather than leave this potential financial burden to those they leave behind.

A burial insurance policy is often a whole life policy with death benefits. While they are often purchased as a standalone separate policy, they can also be part of a larger life insurance policy.

Deciding which policy is the right one for you can sometimes be a little more challenging than making the decision whether to buy one or not. With a few exceptions, you will almost certainly be insurable. However, depending on factors such as your age and any known health issues, you may be presented with different options. If you are facing serious health concerns today, you will likely need to look at specific policies designated for such a situation.

Like any insurance, the cost can vary based factors such as your age, health, and most significantly on the amount of coverage you wish to obtain. Based on these factors, you could be looking at a monthly premium of just $10 a month or upwards of $500. You may perhaps pay even more if you are looking for much higher coverage options. If cost is a concern, there are cheaper options through purchasing a group policy for several family members.

To determine what coverage limit will suit your needs, it is advisable to sit down with a funeral director and plan out your funeral and final wishes ahead of time. This way you have a degree of cost certainty and can shop for the appropriate coverage amount to fulfill your wishes.

Having such a policy as well as having your funeral arrangements preplanned can alleviate a lot of the stress your loved ones will already be under after your passing.

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Tips For Buying A New Home

by admin on July 1, 2012

Guest post from Jennifer Spergl, leading real estate agent from the Franklin, TN area. You can find her at www.jenniferspergl.com.

If you are thinking about buying a new home, then there are several things that you should always keep in mind just so you can get the very best. A home is one of the most important things that anyone can ever have and that is why the following tips are vital.

Many people want to jump right into the house shopping, but unless you are in a vital rush to buy a home, such as you just got a promotion, you start next week, and you need to relocate, I recommend getting your financing approved first. You can find many stories about prospective buyers losing out on a home they fell in love with because of hangups in getting the necessary financing. Take care of that first and the rest of the home buying experience can be much smoother.

Next, and of course near and dear to my heart, you should always try and find the right agent if you are going to get the best home to fit your needs. There are usually so many agents in the market who claim to be the best, but without proper research, you may end up with an agent unqualified to find the right home for you. Many agents talk the talk, but not all of them walk the walk. It is therefore always advisable that you consider the experience and reputation that a particular agent may have before you hire them. If you have doubts, ask for references, previous clients of theirs that you can contact to discuss their experience in working with the agent.

The next thing that you should always think about when you want to buy a home is your budget. What amount are you willing to pay for the new house? It is never a good idea to search for a house without a proper guideline on the price range that you can comfortably afford. This will also help guide the agent in finding the right homes to show you.

When you have identified the home that you want, always ensure that everything in it is working properly. If you do not know how to inspect a house, try and find someone who is good at it to assist you. There are several home inspectors who can offer great services at great prices if you know how to find them. It can be worthwhile to have a second inspector come in the home just to put another set of eyes on it.

If you have ever watched the show Holmes on Homes, you know the disaster that an incomplete or improper home inspection can cause. Unfortunately, Mr. Holmes is a very busy guy and is not going to be able to bail out everyone who finds they bought a house with a number of unidentified problems. Better to spend a couple of extra bucks now for a second inspection and be more secure in your purchase than to look at the possibility of needing to spend thousands of dollars for home repairs later.

These are just a few tips to make your home buying experience a little smoother.

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Before You Bid On That House

by admin on June 29, 2012

This article was posted on MSN.com in the Money section. For those of us who have gone through the process of buying a house in the past, a lot of it may seem like common sense. You would be surprised how many people do not follow a lot of these simple tips though.

For example, before you ever go to your first open house, start shopping realtors, or even discuss what neighborhood you would like to live in, you should be investigating mortgages. You need to know how lenders look at you, how much they may be willing to lend, and what your payment structure is going to look like.

Many home buyers, first-time home buyers especially, do this backwards. They fall in love with a house first, put down an offer, then start trying to secure the mortgage. This often leaves them with time constraints that must be met, which can result in the buyer being put in a more vulnerable situation in which they can be taken advantage of. When you hear horror stories about people in high interest rate mortgages, mortgages with outrageous balloon payments, etc., this is usually how they got there.

You should shop around for a loan just as you shop around for a house. Look at different types of lenders like credit unions, national banks, and regional lenders. Ask people you know about their lender.

Once you have settled on a lender, get pre-approved. Most real estate agents will not admit this publicly, but they will work harder for a buyer that is already financed approved. Securing financing, especially with the tightening restrictions put lenders have adopted the past few years, is one of the biggest things that holds up purchases or even causes deals to fall through. If the agent knows the financing is going to be a breeze, at that point it is just a matter of finding the right house for you and securing the offer.

Taking the time to secure and understand your financing first, can make the whole home buying experience much smoother.

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What Are Surety Bonds For?

by admin on June 28, 2012

When it comes to stocks, bonds and obligatory contracts, many individuals have the same question: What are surety bonds for? A surety bond is a type of debt security that involves three separate parties.

The first party is the person or company who is lending the consigned amount to the second party, while the second party is the one who is responsible for its repayment. The third party vouches on behalf of the second party as insurance in the promise to repay the debt if the second party fails to, making it a sure obligation.

Although surety bonds are issued contractually for private, public and commercial applications in the form of permits, licenses, and fidelity bonds, the most commonly known surety bond is a Court Bond.

A court bond is considered a surety bond because there are three parties represented in the contract. The first person is the bonding agency, who is willing to pay the court issued bond in full to release the detained person from jail. The detained individual is the second party, who is obligated to meet the conditions of his or her release, while the third party contractually agrees to repay the entire amount of the bond if the second party does not fulfill the conditions of their release. Simply put, if a bail bondsperson pays $2000 for a person’s release, the third party will agree to repay that entire amount if the second party does not appear in court on the charges they are facing.

Surety bonds are not only a promise to pay by the individual who needs the appropriate financing, but a promise to pay from a third party if that party is unable to fulfill their end of the contract for any reason, which insures the lender with a higher percentage of return on their investment.

Information provided by www.BuySurety.com, the leading online surety bond provider.

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