Part 1 / Introduction - Jump Menu

General - Life and Health. What is Life Insurance? How much life insurance should I have?     Also See Part 2 - Who receives benefits and how much; does it matter how I die; paid as lump sum or distributed; who can be beneficiary and how often can that change; different types of life insurance; must I die to collect; requalification requirements; how price is set; permanent versus term Part 3 - Understanding Term Life versus permanent; How much will the cash be worth if I need to cash the policy; Major purpose of health insurance, major types of individual policies; Individual versus group insurance at work; Major Medical Health Insurance; How does deductible work Part 4 - In a health policy - understanding and definitions for coinsurance, disability income policy, disability, PPO and HMO; how can one collect under a disability income policy and how long must I be disabled before my disability benefits begin; purpose of PPOs and HMOs; choosing any doctor or hospital

General - Life & Health

Too often you are the most overlooked or undervalued asset you possess.

If you owned a machine that generated thousands of dollars in income per year, would you buy insurance to protect against possible damage or loss? And wouldn't you want to insure for direct damages, plus coverage for lost income while the machine were broken or worse yet, if it were destroyed.

Have you ever considered that you are such a machine? Thanks to your efforts, you and your family have food, shelter and possessions. Life, health and disability insurance provide coverage for your personal wealth-generating machine.

If you are no longer able to provide for your dependents because of death, life insurance is designed to provide assistance for final expenses and ongoing income. If you are unable to work due to sickness or injury, health insurance is designed to cover “repair” costs, as well as provide an ongoing income during the period you are “out of service”. And if your injury or illness is more long-term, disability insurance helps supplement your lost income.

If you haven’t recently reviewed your family’s health, life and disability coverage now is the time to do so. Talk to us, your Trusted Choice^SM Agent, about your specific needs for life, health and disability insurance so that you can best protect you.

What is life insurance?

When a person dies, there are many expenses that will need to be paid. These expenses may include such items as funeral costs, burial expense, current bills, and estate taxes. In addition, there may be financial needs the insured would have met if they had remained alive, including family living expenses, mortgage payments, long-term debt, and college costs for children. A life insurance policy’s primary function is to provide, upon death of the insured, an amount sufficient to pay for any or all of the preceding costs and expenses. Which expenses or costs are to be provided for, and how much money will be needed is entirely up to the insured.

How much life insurance should I have?

There are many and varied needs for funds upon the death of an individual, and all must be taken into account to arrive at a proper amount of insurance. For simplicity, some authorities recommend a good rule of thumb to be five times your annual income. Stuber Insurance Agency, your Trusted Choice^SM Agent, can talk with you about your needs and goals, and illustrate how each item translates into a given amount of funds needed at the time of death. He or she can also share how to account other sources of income (such as Social Security or retirement plans) that will actually lower the amount of life insurance necessary.
 

This is the introduction to multiple sections of an
article on Life and Health Insurance that
we will be presenting over the next few months.
Bookmark us for remaining sections and additional articles.

Part 2

Date Posted to Site:   Feb. 2005

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