Saving You Money For Life

Someone very close to me was recently diagnosed with cancer. There is no doubt that the word cancer invokes apprehension in most people; alarm in those who are facing it personally. There was nothing different in the person I am writing about. She was afraid of the unknown; anxious of the consequences; and worried about the future. All the more so because she has a husband and a young daughter.

It is this reality that makes you realize that nothing is permanent. Everyone of us is susceptible to the frailties of being human. It is simply a fact of life.

It is how we face these realities that separate us. Recognition of responsibility to a person’s family is mature behavior.

You know, everyday hundreds — if not thousands — of clients access, call, or go through AccuQuote to find-out more about life insurance for themselves and their families. As one of the professional case managers at AccuQuote, I would like to think that my work — our work — helps people and families get the insurance they need. In doing so, we try — we try very hard — to not lose sight of the fact that we are dealing with people, families, and futures.

By the way, that person who is close to me will be fine. She is looking forward to the future!

Posted in Uncategorized | | No Comments »

According to a recent survey by EBRI/Commonwealth Fund Consumerism in Health Care, enrollment in consumer-driven and high-deductible health plans increased in 2007, but still makes up a small segment of the overall insurance market. One in 10 insured adults had high-deductible health plans (HDHPs) without accounts. The survey also found the percentage of consumer-driven plan enrollees with high incomes (above $100,000) swelled in 2007.

Consumer-driven plans were introduced in 2001 with the goal of decreasing the number of uninsured, encouraging cost-consciousness among consumers, and increasing the amount of information on the cost and quality of providers.

The EBRI/Commonwealth survey found differences in the types of people enrolled in the various health plans. Consumer-driven plan enrollees are in better health, are less likely to smoke, are more likely to exercise, and to be white, male, and higher-income. They are no more likely to have been uninsured prior to enrollment than adults in other plans. In terms of behavior, enrollees in consumer-driven plans are more cost-conscious about their health care than are people enrolled in more comprehensive plans, are less satisfied with their plans overall, and are more likely to say they avoided needed care because of cost.

Results of the survey appear in the March 2008 EBRI Issue Brief, available at www.ebri.org, and on the Commonwealth Fund Web site, www.commonwealthfund.org

Tags: Health Insurance
Posted in Uncategorized | | No Comments »

I’m still against premium financing, but I thought I’d share some facts put out through a press release by the BCAJ Southern California Insurance Center. Their release provides some good insight as to what it is and what premium financing is and what it does.

Please note: I’m still not a believer in premium financing and I warn consumers to enter these sorts of agreements at their own risk…make sure to get all the facts before entering into this sort of agreement. However, I use this blog as a tool to educate you; therefore I will present both sides of the story. Here’s what BCAJ has to say about the subject:

The Facts About Premium Financing of Life Insurance

Premium financing has become a very important topic in the insurance industry. Premium financing of life insurance is a way for high-net-worth individuals, over the age of 55, to obtain the life insurance coverage they need without having to divest high yielding assets.

Life insurance premium financing is a tool, offered from a premium finance company, that an individual with substantial assets uses to cover the upfront costs and premium payments on a life insurance policy. Individuals often choose this course if they require a large amount of life insurance and do not want to pay the out-of-pocket costs. Premium financing makes the most sense when an individual wishes not to liquidate high yielding assets to cover the costs of a life insurance plan.

Most premium financing policies require at least $2.0 million in net worth and $100,000 a year in net income. The person insured under the life insurance policy has the option after 24 months to pay off the loan and maintain the insurance policy or they can retire the policy in a life insurance settlement.

Posted in Uncategorized | | 1 Comment »