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Life and Health Bulletin
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Health Insurance Options After You Retire
The majority of employers offer health insurance as part of their benefits package for full-time employees. What happens, though, when you retire? Most likely, you will lose your health insurance coverage during a season in life when you need it the most. Consider these options as you find health insurance coverage during your retirement years.
Ask Your Employer About Group Health Coverage
Some health insurance plans allow retirees to remain insured under the same policy they had when they worked full-time. Talk to your Human Resources manager to find out the details of your company's benefit package and COBRA options. While you will pay more for this coverage since your employer will not cover a portion of the premium cost, it does give you peace of mind that you can retain the familiar coverage, benefits and healthcare professionals you had before you retired.
Research Your Medicare Options
Retirees over the age of 65 are eligible for Medicare. You can choose different options, though, including original Medicare or a Medicare Advantage Plan. They offer different benefits and cost different amounts. Research available options at Medicare.gov or make an appointment with your insurance agent as you explore the benefits and disadvantages of your Medicare options.
Compare Health Insurance Retirement Choices
Your income, expenses and overall health affect which insurance option you choose during your retirement years. Compare several plans to make sure you're getting the best coverage at the most affordable price. Your health insurance agent can assist you in conducting a full analysis of your financial and health situation as you find the most cost-effective insurance for your needs.
Perform an Annual Review
Finding health insurance that fits your needs and budget takes time. Once you find the option that works for you, you may be tempted to stick with it for the rest of your retirement years. However, policy benefits and premiums change annually, so make time to conduct an annual review to make sure the policy you picked is still the one that meets your medical and financial needs. Check out other insurance companies and different policy packages to ensure you're still getting the best fit.
Your healthcare coverage will change after you retire. Begin researching your options now as you seek the most affordable and comprehensive coverage for your needs. Make an appointment with a health insurance agent as you find coverage that works for you today and throughout your retirement years.
HMS Insurance Associates, Inc.
Fourth of July Safety Tips
Fourth of July fireworks, parades and cookouts are an excuse for you to relax with family and friends. As you plan your celebration this year, take several steps to ensure safety for everyone involved in celebrating the United States' birthday.
Use Fireworks Safely
Public fireworks displays are the safest way to enjoy the beautiful colors and terrific booms of this July 4th tradition, especially when you maintain a distance of at least 500 feet between you and the show. Firework displays at home can be fun though too. If you go that route, take these precautions.
Follow the instructions on the packaging.
Never allow children to play with the fireworks.
Stock a fire extinguisher or water supply nearby.
Wear eye protection when lighting fireworks.
Remove flammable materials from the area.
Never point fireworks toward people, animals, vehicles or structures.
Properly dispose of duds rather than trying to relight them.
Take Precautions While Grilling
Burgers, hot dogs, fruit and pizza taste delicious when they're grilled. Grab your favorite side dishes and follow a few precautions that ensure you and your guests grill safely.
Always supervise the grill when it's in use.
Never grill indoors or in a fully enclosed area such as a garage or tent.
Use lighter fluid sparingly and never after the coals are ignited.
Keep children and pets away from the hot grill.
Remove flammable objects, including trees, from near the grill.
Use long-handled tools to handle food.
Stay Safe on the Beach
Swimming is a fun summer activity, and it's good exercise. At the beach, lake, public pool or backyard pool, stay safe with these tips.
Swim only in designated areas.
Obey the lifeguard and all posted signs.
Get out of the water during a storm or if you hear thunder or see lightening.
Require children to wear life jackets.
Don't dive into shallow water.
Wear Sun Bathing Protection
Picnics are part of many July 4th celebrations. You should also take these protective measures.
Wear sunscreen that's at least 15 SPF.
Remember to apply sunscreen to your ears, hair part and the tops of your feet.
Avoid direct sunlight between 10 a.m. and 4 p.m. when the UV rays are strongest.
Reapply sunscreen every two to three hours or more frequently if you're sweating.
Drink plenty of water even if you're not thirsty.
Wear a hat, sunglasses and long sleeves if you have to be in direct sunlight.
Watch for signs of heat stroke, including hot, red skin, shallow breathing and rapid, weak pulse.
Your July 4th celebration will be safe when you take these steps. For more advice, talk to your health insurance agent. He or she stands ready to help you have the best birthday party ever.
HMS Insurance Associates, Inc.
What is Burial Insurance?
Expenses for the average funeral exceed $8,000. Can your estate or survivors successfully handle this expense? If not, consider burial insurance. It can give you and your survivors peace of mind as it covers this inevitable expense.
What Does Burial Insurance Cover?
Because different funeral homes charge different prices, you could pay anywhere from $6,000 to $12,000 or more for a funeral. Typical burial costs include the obituary fee, casket or cremation, visitation and viewing, minister, flowers, burial plot, headstone, grave digging and filling, burial vault or grave liner, hearse and other expenses. If you do not have life insurance or savings set aside for this expense, your survivors or estate will have to pay the bill, which can be a financial hardship and is not something anyone wants to think about as they grieve.
Who Can Purchase Burial Insurance?
Almost anyone is eligible to purchase burial insurance. While you will need to answer a few medical questions, there is no medical exam requirement. Most people will qualify for a policy, and future medical issues do not affect the policyholder's eligibility for coverage.
What Does it Cost?
Most burial insurance policies include fixed premiums. That means you will pay the same amount at the beginning of the policy's term and at the end. Typically, your burial insurance will cost a few dollars a week. However, certain policies can be as expensive as $1,000 a month. Definitely shop around to find the most affordable policy for your budget and needs.
How Much Coverage do you Get?
When purchasing burial insurance, you can decide how much coverage to buy. Policies normally offer death benefits that range from $3,000 to $50,000. Remember that premiums for a $5,000 policy will be less than a $10,000 policy, but a larger policy will cover more funeral expenses. Compare the costs of different policies as you decide what you can afford.
How do you Pay for It?
The premiums for your burial insurance can be paid weekly or monthly. Choose to place the payments on auto pay that deducts directly from a bank account or pay manually via check, money order or credit card.
Who Does it Cover?
A burial insurance policy can cover your funeral expenses. You can also purchase coverage for your family members. Check with your agent to be sure your policy covers the burial expenses for you and your loved ones.
Burial insurance gives you peace of mind since it covers the cost of a burial for you and your family members. Talk to a licensed agent today as you plan for your future.
HMS Insurance Associates, Inc.
Why You Should Choose Permanent Life Insurance
Life insurance gives you peace of mind. At the time of your death, it provides a financial payout to your beneficiaries and ensures their needs are met. Additionally, permanent policies provide numerous benefits while you're alive. Learn why permanent life insurance is a good choice for you and your family.
Stay Covered for Life
From the time you purchase a permanent life insurance policy until the moment you die, it covers you. You don't have to worry that the term of coverage will expire. Purchase a policy when you're young, and it provides peace of mind throughout your career, as your children grow up and until you're well into your retirement.
A permanent policy also remains in effect no matter what health conditions you face. It does not change bases on your health status, and you won't pay more because of certain health conditions.
Permanent life insurance policies allow you to save money. Their premiums are more expensive than those for term policies, but the premiums do not increase like term premiums do.
Also, you can borrow a portion of your permanent policy. Your policy grows cash on a tax-deferred basis at an interest rate of up to four percent. Use the accrued funds for expenses you may face during your lifetime, including education, home repairs or medical expenses.
Protect Your Assets
When you die, creditors could make claims on your estate and leave your beneficiaries left destitute. Permanent life insurance protects your assets. In certain states, creditors cannot access your policy's cash value or death benefits, which ensures those assets are available for your beneficiaries.
Cover Estate Taxes
Depending on your income, you may owe significant federal estate taxes after your death. Your permanent life insurance policy can be used to cover this expense and free your remaining assets for other expenses.
Ensure an Inheritance for Your Dependents
As you care for your children and dependents during their childhood, you also want to care for them when you're gone. Purchase a permanent life insurance policy that guarantees your dependents receive an inheritance.
Pay for Your Funeral
The average funeral costs more than $8,000. If you haven't pre-paid this expense, your permanent life insurance policy can cover it and gives your survivors one less thing to pay.
Is a permanent life insurance policy right for you? Talk to your insurance agent today and discuss your needs. Then choose the policy that gives you and your dependents peace of mind and protection for life.
HMS Insurance Associates, Inc.
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