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Contact us now for a personal consultation or check out the extensive resources below to get more information. We’re here to answer your questions and help you choose the best options for your future.
Medicare & Medicare Supplements
Before choosing a plan we want to be sure you know the difference between your many options; In particular how Medicare Supplements and Medicare Advantage Plans differ. Many people sign up for Advantage Plans thinking they are Supplements, they are not.
A Medicare Supplement is used with original Medicare. Any caregiver that accepts Medicare will take a Supplement because they only need to bill Medicare. Medicare pays their part (generally 80% of Medicare covered benefits) and sends the remainder of the bill to the Supplement which pays their part (generally 20%). It is important to note that Supplements do NOT include Prescription Drug Coverage (Part D, PDP) and for those that do not get a PDP when first eligible there will be a penalty when they do get a PDP. (there are exceptions to this) A Medicare Supplement does not change year to year (although the cost does generally go up the coverage does not change).
A Medicare Advantage plan works differently than a Supplement. With a Medicare Advantage Plan a private company TAKES OVER for Medicare (you remain in the Medicare system but Medicare is no longer responsible for your bills). These plans follow the same type of module as many group plans such as HMO or PPO. With this type of plan it is important to remember several things.
First, most Advantage Plans have Networks so you want to make sure your Doctor, Hospital, and auxiliary care are within the network. (otherwise you will be paying higher costs and in some cases are responsible for 100% of care outside the network)
Second, Advantage Plans have co-pays associated with them. It is important to be aware of these because they can add up to be quite a bit of money. Third, most Advantage Plans have the Part D “built in” which is a nice bonus but you must be aware that when switching to a Supplement from an Advantage Plan you will also need to add a Part D. (there are several types of Advantage Plans that do NOT have the Part D built in so this is something you need to keep in mind when choosing any plan).
Lastly, Advantage Plans typically have value added benefits. These benefits vary between plans but typical benefits include Health Club membership, limited dental, eye and/or vision.
Also, not all Plan D’s are the same. Although they are required to be at least as good as the Medicare model they can vary greatly in costs, co pays and specific drugs that are covered. It is important to check which one suits you and continue to check each year because they (like Advantage Plans) do change every year.
Because these plans vary even from county to county, Asset Protectors is here to help you choose the one that best suits your needs. Schedule your free consultation today or click the link to shop below.
Literally everyone should buy health insurance because medical expenses are simply too high to cover out of pocket. Medical bills are a leading cause of consumer debt and related financial problems (e.g., bankruptcy and home foreclosure).
Asset Protectors can provide you with a wide array of products and services from a variety of respected insurance and benefits providers. We obtain and evaluate proposals from all available carriers. We can introduce and educate you or your family on the benefits. We offer a complete line of insurance products and services. These products and services are designed to provide solutions to your personal and business financial needs.
- Individual Insurance
- Life Insurance
- Short Term Medical
- Travel Insurance
Life insurance may be one of the most important purchases you’ll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more. If you’re considering securing you and your family’s financial future, we would be happy to review your current situation and offer a few ideas on how you can protect it!
Types of Life Insurance:
Term Insurance: The most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time (the “term”) and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
Final Expense Insurance: Final expense insurance is an insurance policy used to pay for funeral services and a burial when the named insured dies. Such a policy helps ease the financial burden placed on a family when a loved one dies.
Universal Life Insurance: Created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their individual circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate that is adjusted monthly.
Whole Life Insurance: A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against. As the most basic form of cash-value life insurance, whole life insurance is a way to accumulate wealth as regular premiums pay insurance costs and contribute to equity growth in a savings account where dividends or interest is allowed to build-up tax-deferred.
Contact us today to discuss your needs and plan for your future.
You’ve taken all the steps to protect yourself from disaster due to medical conditions and it’s time to think about how to protect your finances over the long term. What has that CD that you’ve rolled over for 10 years done for you? The rate of interest for a CD is virtually always less than that of an annuity, and many annuities offer guaranteed rates. Certain annuities offer an option of paying monthly interest to you, some offer bonuses for satisfying certain requirements such as leaving it for 5-10 years then taking 10%/year (that is an example, different annuities offer different terms). Because annuities are tax deferred your money multiplies faster. But before you decide, there are a number of questions you must ask yourself.
- What do you want your money to do for you?
- Do you need this money to live off of?
- Do you need the interest generated from this on a monthly basis?
- Do you have other liquid assets to access in the case of an emergency?
- Where is this money now?
- What % rate are you currently getting?
- Are you satisfied with that % rate or would you like more?
Do you qualify as an annuity candidate?
- Principle 100% protected [ you can never lose your money]
- Tax Deferred [ the interest earned is not taxable, unlike a CD which is taxable each year]
- Avoids Probate [ many people do not realize what is involved with probate and how it delays proceeds from reading your beneficiary]
- Accessibility [ you can access up to 10% of your money each year without penalty (in some cases more
Contact our agents at Asset Protectors today to learn about the best annuity option for you.
Short Term Medical/Disability Insurance
We don’t like to think about it, but what would happen if suddenly, due to an illness or injury, you were unable to work? Often times, worker’s compensation programs, government support, and social security cannot sustain your family in a time of medical crisis or disability.
How long would you be able to make your mortgage or rent payment, buy groceries or pay your credit card bills without your paycheck? For most working Americans, it would take less than a month to start feeling the financial pressure or be unable to make your payments entirely.
Disability insurance guards you against that possibility. It ensures that if you are unable to work because of illness or injury, you will continue to receive an income and make ends meet until you’re able to return to work.
Many people don’t hesitate to insure their home, car and other valuable possessions. Insuring your paycheck guarantees you can pay for all those things that make your life possible, so why wouldn’t you also protect your income?
Types of disability insurance include:
- Long-term disability insurance
- Short-term disability insurance
- Mortgage disability insurance
- Supplemental disability insurance
- Social Security disability insurance
- State disability insurance
- Workers’ compensation
Asset Protectors can help you make a decision on the right coverage for you. Schedule a free consultation today above or shop now at the link below.
Frequently Asked Questions
Click here to access our extensive FAQs page. You’ll find health care terms, explanations, and resources to help you understand your options and make decisions.