I'm getting a lot of calls about health insurance and the rising costs people are seeing on their renewal statements. Options are raising the deductibles, searching for a new company or accepting the higher premium. But, there's a another option, health share programs. It looks and feels like traditional health insurance, but it's different. For one, the costs are less and lower deductibles. It passes the affordable care act but doesn't have the same requirements. You are reimbursed for expenses vs the insurance company paying the hospital or clinic directly. There are other differences, but for someone that doesn't have pre-existing conditions (meaning they haven't had treatment within the past 12 months, including prescription medication), are a non-smoker and lead a healthy moral lifestyle, this may be a good alternative worth looking at. Costs are about $250 for an individual to $650 for a family. Prices may vary based on options.
We're excited to announce this next addition. We've added another company to our already big selection, State Auto Insurance. State Auto is competitive for home, auto, business, farm insurance and more.
Below is an excerpt from State Auto Insurance.
About State Auto
In 1921, Robert Pein set out to create a new kind of insurance company. He was frustrated by insurance rates that were too high and claim settlements that weren’t handled fairly. State Automobile Mutual Insurance Company, he said, would be different. He pledged reasonable rates with prompt and fair claim service that remain our hallmark to this day.
We’ve grown a lot since then. Today we have assets approaching $4 billion and write nearly $2 billion in premium in 50 states and the District of Columbia. And we continue to rely on independent agents and wholesale brokers to market our products.
Throughout our nearly 100-year history, we’ve developed a well-respected heritage and built a strong foundation. We’ve always celebrated a culture of people who care. Who deliver exceptional service. Who plant themselves firmly in the communities they serve. Who genuinely understand their customers. And who develop trusted relationships.
That is State Auto Insurance.
Mutual Aid eXchange Insurance, aka MAX Insurance, has a very unique endorsement available on their homeowners insurance policies that is not available at most other companies. The endorsement is for service lines outside the home. Normally if your sewer or water line OUTSIDE the home is damaged, from something like a tree root, you are responsible for all costs to repair the lines. This unique endorsement could save you thousands of dollars and it's only $30 per year to add this coverage and provides up to $10,000 in coverage with only a $500 deductible. It even covers you if the line simply fails due to age. Contact Corey for more information or to add this coverage to your policy.
I've been thinking about this more lately. Do I have enough life insurance? I think I do, but then I look around and wonder if the people around me do. I went to a wedding recently. Great wedding, great family. She has a son from a previous relationship and they recently welcomed a second child into the world. Let's think about this for a second. 2-3 years ago they may have just met, today they are married with 2 wonderful children, a mortgage and 1-2 car payments. I'm not sure on the details but that's fairly typical for a growing family. Today they are responsible for each other and raising two children. That's a lot of change. That's a lot of responsibility. That responsibility has a high price tag. Have they updated their life insurance yet to factor in all that change and responsibility?
When I speak with someone about life insurance I ask them what there biggest asset is. It's not your home or your bank account or your car. For working people, it's your ability to earn money. For a stay at home parent, it's taking care of day to day tasks and raising your children. All of this has value. All of this would need to be replaced in the event of your death. What is the value on that? You'll have to replace lost income or take on more expenses. A very common number is $1,000,000. Some go lower and some go higher. Don't make yourself insurance poor but make sure it's adequate. If you'd like to know how much term insurance is, here's a good place to start a quote. Then contact me. It's time to make sure you can take of those even if you're not here.