The Importance of Insurance Planning

When leading a life that is full of activity, it may seem easy to overlook insurance planning because you are busy with other things. These other things can make insurance seem like a lower priority. Insurance planning, however, is a vitally important step in securing your present and your future while allowing you to stay focused on all the activities that are important to you.

Insurance Provides Security to Those Who Matter Most

By providing financial recompense for damages to property, insurance helps ensure that a family remains financially secure well into the future. Without insurance an individual would have to take from his own savings in order to make himself whole after an insurable incident. While he may be making himself whole in terms of property, he would be creating a financial hole by draining his savings account or increasing his debt.

Insurance is Perfect for Emergency Planning

Insurance provides an affordable means to plan for emergencies. Without insurance backing an individual during an emergency, one would have to save a lot of money just to repair or replace everything that could be damaged in a flood, hurricane, fire, theft or other peril.

Insurance can also provide a loss use benefit which creates a backup plan for operating a business, and driving or housing a family after an emergency. Without this assistance, it would be very difficult and expensive to provide these short term replacements.

Insurance Ensures Good Karma

Liability insurance coverage allows one to make good on hospital bills and lost wages that she may have caused another person accidentally. No one wants to hurt another through a car accident, fire, or other unexpected incident but if it happens it feels good to know that the injured individual can recover from those financial damages as quickly as possible. Without liability insurance coverage one might not be able to make good on liabilities on her own.

Insurance Provides Support for Heirs

A life insurance policy can ensure that heirs have a means of replacing a decedent’s income after they have gone. If you leave loved ones without the resources of a life insurance death benefit means that they have to scramble to afford all the same bills but on less income. This can not only force them to significantly change their way of life now, but can also hamper their ability to achieve their dreams of college and retirement.

Options For Small Business Health Insurance Plans

Small business health insurance plans cater to smaller businesses that have a little employee population. Most people who have smaller businesses find it hard to offer their employees medical plans due to the expensive quotes they encounter when looking for available options, especially since most employer-based plans are targeted at big companies. This is a big disadvantage since most people look forward to company benefits, especially health insurance plans.

According to surveys, a considerable amount of businesses don’t get insurance for their employees because of the expensive costs. This can prove disadvantageous to the business as employees won’t have much incentive to stay. Sick employees would then have to file a sick leave and cover their own medical expenses when insurance could have taken care of it. It is important for people to know that there are a lot of small business health insurance plans options that insurance companies offer.

Some, if not most, insurance companies offer group insurance plans, which is ideal for your business. There are some affordable ones, but there are also some very expensive ones. The most important considerations to determine how expensive a group health plan is going to be is by determining the age and the overall health of the employees. The cost can also depend on how many employees the company has; the more the employees, the cheaper the cost of the insurance coverage.

Small business health insurance plans can offer a lot of advantages to business owners as their employees are given an incentive to stay. This is also a good way of ensuring that your employees are well taken care of. By offering insurance to your employees, even if your run a smaller business, you can keep your most valuable employees. Most people also don’t mind earning a slightly lower salary provided that they have a health insurance plan.

However, businesses who have a very few number of employees, or no employees at all except for the owners themselves, might find it impossible to apply for a group insurance health plan. In this case, they would have to apply for a personal insurance plan. This may be a bit costly, but it can prove to be very beneficial in the long run.

Most smaller businesses succeed because they take care of their employees very well. Businessmen should remember that without their employees, their business won’t even run at all. Small business health insurance plans can benefit business owners as their employees become more productive because they know that their health is well taken care of.

Uninsured? 10 Reasons to Shop & Compare Health Insurance Plans

If you are uninsured, here are 10 great reasons you should shop and compare health insurance plan and get covered today.

1. Affordability

Often health plan premium prices vary, up to 50 percent, between similar health plans. Comparison shop to find the best price on a plan that fits your budget. An affordable plan can save you thousands of dollars in medical expenses in the long run.

2. Helpful Benefits

Get the health insurance plan that has all the benefits you need and none that you don’t. There are plans that will give you the coverage you want and help you save money without the high priced premiums for services that you won’t use.

3. Convenient Access to the Best Doctors

You can easily find health plans that cover office visits to doctors that are in your area. You’ll save money by taking advantage of the lower costs for services within your insurance provider’s network of doctors.

4. Prescription Savings

Many health insurance plans also have prescription benefits, which will save you money on your medications.

5. The Best Access to Medical Care

Uninsured patients pay upfront for medical care. If you don’t have that kind of cash lying around, get insured so you’ll have readily accessible medical services whenever you need them.

6. Preventive Care: Covered

Some insurance plans will cover essential preventative care, so staying healthy and avoiding serious illness is affordable as well as good for you.

7. Financial Security

Having health insurance will protect you against the high cost of an unforeseen illness or injury. With most health plans, you’re only responsible for an annual maximum amount (called a deductible) or a set percentage of your medical expenses; your insurance company picks up the rest of the bill.

8. Less Expensive Care

Most insurance companies negotiate rates with doctors, so you pay less for medical care than you would if you were uninsured. You may also save yourself from the cost of expensive medical procedures by using your plan’s preventative services to stay healthy all yearlong.

9. Consider COBRA Alternatives

You may be able to save money if you choose an individual plan or short-term insurance instead of CORBRA. You can get the same (or better) coverage for less.

10. Peace of Mind

Most importantly, a good insurance plan will ensure that you and your family can get the medical care you need when you need it.