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P.O. Box 1750, Cockysville, MD, 21030
Life and Health Bulletin
What Health Conditions Increase Life Insurance Rates?
Life insurance premiums depend on several factors. Health conditions are one of those factors and could affect how much you pay for your important life insurance policy.
The type and severity of your cancer, how long you’ve had it and its treatment affect your life insurance premium. In general, you’ll pay more if your cancer has a low survival rate.
High or low cholesterol indicates potential health problems. High cholesterol could cause diabetes, stroke or heart disease while low cholesterol could be linked to cancer or depression.
Type I diabetes developed during childhood affects life insurance rates. However, if you have Type 2 diabetes and manage your condition well, you may qualify for a standard premium rate.
Elevated Liver Enzymes
Statins that lower cholesterol or over-the-counter pain medication can increase your liver enzymes and shouldn’t affect your life insurance cost. But if you have a disease such as hepatitis or celiac, you may pay more for coverage.
Occasional mild heartburn isn’t serious, but acid reflux disease, colitis and Crohn's’ disease could increase future health concerns and trigger a higher life insurance premium.
Even if you don’t have heart disease, a family history of this ailment could affect your life insurance rate.
Your stroke and heart disease risk increase if you have hypertension or high blood pressure. Take steps to control hypertension and your life insurance premium.
The type of mental health challenge you have, its severity and your treatment determine your life insurance premium. Minor issues like anxiety or depression are easily treated and controlled, which will only increase your premium slightly, but a more severe issue or one that's unmanaged could result in a significant premium increase.
Every life insurance company sets different weight ranges for rates, so being overweight may not automatically raise your premium. However, obesity does increase your risk for other serious health conditions like heart disease or high blood pressure.
Sleep apnea is a serious condition that can lead to high blood pressure or heart disease. Fortunately, life insurance companies may take treatment into effect as they set your rates.
Take Action to Lower Costs
Although certain health conditions do affect your life insurance premiums, you can take action to save money.
Discuss your health conditions with your doctor, and implement the recommended treatment options.
Ask your life insurance agent to compare quotes from several life insurance companies since they all set different underwriting standards.
Purchase guaranteed life insurance until you qualify for a more affordable term or whole life policy.
Health conditions do affect life insurance rates, but you can research your options and save money on this valuable coverage.
HMS Insurance Associates, Inc.
Factors That Affect Your Long-Term Care Insurance Costs
Long-term care insurance (LTC) pays for quality nursing home, assisted living or in-home care if you need it.
When you consider that the average private nursing home room cost $99,736 in 2015, you see how important an LTC policy is for your peace of mind. Plus, it protects your financial assets that would otherwise pay for your care. Before you purchase this valuable insurance coverage, learn more about the factors that can affect your policy’s premium cost.
Your age at the time you purchase a long-term care insurance policy affects the premium cost. Additionally, your rate can increase by three to five percent every year you wait to purchase coverage. Don’t let your age push you to rush this purchase, though. Take your time and research your options to ensure you buy the right policy for your needs.
Enjoy lower long-term care insurance policy rates when you purchase a policy while you’re healthy. Rates increase if you develop health conditions or take too many prescription medications.
An average long-term care insurance policy includes benefits like waiver of premium, alternate care, equipment and home modifications, bed reservation and homemaker and chore service. You may purchase additional riders, too, including:
Restoration of benefits
Waiver of Home Health Care Elimination Period
Return of Premium
Each of these riders increases your total cost by five to 75 percent, so choose your coverage carefully as you balance your expected needs and budget.
You could qualify for preferred health or marriage discounts. Ask your insurance agent about these and other discounts that could save you money on your long-term care insurance policy.
You may decide to wait and purchase long-term care insurance right before you need it or after you save money for the premium. While you are wise to consider this purchase carefully, examine an example that illustrates how waiting will affect you.
At age 50, John purchases a long-term Care Insurance policy with a $4500 monthly benefit, four-year benefit period, 90-day elimination period and three percent inflation protection. His premium costs $2,707 per year. When he’s 85, he will have paid $94,745 in premiums. At age 55, John will pay nearly $3,589 per year for the same coverage. His total premiums paid equals nearly $107,670. John could save almost $13,000 by purchasing a policy earlier.
Afford the long-term care insurance that gives you peace of mind when you consider these factors that affect your policy’s cost. Discuss your specific needs and budget with your insurance agent as you choose the right policy for you.
HMS Insurance Associates, Inc.
Why And How To Celebrate National Children's Dental Health Month
Up to half of all children under five have
, reports the American Academy of Pediatric Dentistry. Since February is National Children’s Dental Health Month, learn why and how to protect your children’s teeth.
What Causes Oral Hygiene Problems?
Lack of personal dental care and dental exams contributes to oral hygiene problems in kids. Addressing these challenges can equip kids with strong oral health habits and protect their teeth for years to come.
Why is Oral Hygiene Important?
Kids must take care of their teeth to prevent bacteria growth, bad breath, plaque, and other challenges. Poor oral hygiene can cause pain and chewing difficulties, too. Plus, kids could develop cavities, swollen gums and inflammation. Left untreated, these concerns can cause gum disease, tooth decay, and loose teeth and even lead to heart disease.
Also, reports show that kids lose more than
51 millions school hours
each year because of dental problems. Missed school affects academic performance, socialization and self-esteem.
How to Encourage Good Oral Hygiene Habits
Start early and teach your young kids good oral hygiene habits. By wiping your baby's’ gums with a clean, damp cloth after meals, you prepare your kids to have a brush in their mouths.
Once your children’s teeth erupt, brush their teeth and mouth with a soft toothbrush twice a day for at least two minutes each time.
Introduce flossing when your children’s teeth start to touch. That usually happens by age three. As with other oral hygiene habits, show your kids how you floss and help them floss the right way.
Your children’s first dental visit should occur around the time their first tooth erupts or by their first birthday. Most dental insurance plans for kids cover regular check-ups twice a year. During your child’s dental check-up, a pediatric dentist will clean your children’s teeth and check their mouths for any issues like cavities. You can also use the check-ups to get recommendations for better oral hygiene care.
Sometimes, toddlers and kids resist brushing. Encourage good habits with games. Get a toothbrush that plays music, challenge your kids to brush until the sand in a two-minute timer runs out or watch a favorite video clip while brushing.
Finally, eat healthy snacks like fruit and vegetables and avoid sugary sodas and juice beverages. These selections build strong teeth and reduce your kids’ exposure to sugar, which eats enamel and can cause cavities.
Good oral hygiene starts at home. This February, celebrate National Children’s Dental Health Month because it’s important for your kids’ health now and into the future. For more information, talk to your dentist or child’s dental insurance provider.
HMS Insurance Associates, Inc.
What Exactly Is Short-Term Disability Insurance?
Short-term disability insurance is an important resource you may have heard about through your job or private insurance agent. Understand what short-term disability insurance is as you decide if it's right for you.
Short-Term Disability Insurance Defined
Short-term disability insurance is a benefit that covers a temporary disability caused by an illness or injury. Usually in effect for a short time period, it pays the policy holder up to 66-2/3 percent of their weekly earnings. It may also include a benefit that helps an ill or injured employee return to work.
The waiting period to file a short-term disability insurance claim is up to two weeks after you become ill or injured. Be prepared to show medical proof of your illness or injury. Benefits usually last from three to six months. Your policy will have a maximum per-month benefit cap.
Why You Need Short-Term Disability Insurance
Short-term disability insurance is designed to provide financial assistance if you suffer an illness or are injured. The top five reasons people purchase short-term disability insurance include:
If one of these or any illness or injury affects you and you have to take time off work, do you have enough financial resources to manage your living expenses and other financial obligations? In essence, short-term disability insurance protects you and your resources. It covers your living expenses and gives you peace of mind until you can return to work.
An Example of how Short-Term Disability Insurance Works
Here's an example of how short-term disability insurance can help you.
Let's say you acquire a bad infection and must be on bed rest for a few weeks. Instead of worrying about money, tapping into your savings, racking up credit card debt or pushing to return to work before you're healed, rely on short-term disability insurance.
Your policy only covers a portion of your weekly income, but it is a big help. If your salary is $32,000 with weekly gross earnings of $615.38, your weekly short-term disability insurance benefit will be approximately $406.15. You can use that money to pay any expenses, including rent, groceries or other bills.
Who Should Buy Short-Term Disability Insurance?
Short-term disability insurance is important for almost anyone, especially if you don't have a big nest egg saved for emergencies. Review your financial portfolio with your financial advisor as you decide if a short-term disability insurance policy is right for you.
How to Buy Short-Term Disability Insurance
Talk to your Human Resources manager about short-term disability insurance. You can also purchase a policy through your personal insurance agent. It's invaluable coverage that protects you and your financial security.
HMS Insurance Associates, Inc.
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