Health

Choosing The Right Insurance For Your Needs

Any type of insurance you purchase is there to make sure that that, no matter what the physical loss, your family will not suffer financially.  How we help you is we take the expertise of working with hundreds of clients and apply that toward your specific needs. Making sure you have the right policies in place will allow you and your family to rest easy knowing you have the right coverage.

Life Insurance

Explaining a life insurance policy can be a very difficult, so it is best to contact us for the correct information.  We make sure that you not only get the right life insurance policy for your needs but we also make sure that you actually understand the policy that you are purchasing.

Auto Insurance

In Minnesota, anyone operating an automobile is required to have insurance.  This is to protect you and any other drivers on the road. The minimal coverage may not be exactly what you need to cover your personal automobile.  With that in mind we offer a comprehensive evaluation of your needs and make recommendations off of you specific coverage goals.

Homeowners Insurance

You will hear it said repeatedly that your home is your biggest investment.  For this reason, getting the right amount of coverage to protect your home and the property inside is vital to a good financial plan.  We take the time to understand all the property that you need to insurance and find the policy that meets those needs for the lowest possible price.  With a proper homeowners policy in place you can be sure that your possessions are protected if the worse were to happen.  If you have any questions about your current policy, or any other policy, make sure to contact us. We can answer any questions you might have, and advise you on what type of insurance policies are right for you.

Types of Insurance That You Need

There are several types of insurance policies that you may want to invest in. If you have any questions about your current policy, or an existing policy, make sure to contact us so we can advise you on your options.

Homeowners insurance

If you own a house, your bank will require you to have homeowners insurance. If someone loses their homeowners insurance for some reason, like a cancellation, nonpayment, or nonrenewal, then the bank is notified. They will immediately place their own insurance in it and bill the homeowner. Then they will give the homeowner a chance to get their own. The bank will not allow it to go uninsured for any length of time. Unless you have paid off your mortgage, there is really no way out of homeowners insurance.

Auto insurance

This is another must-have. In fact, it is against the law to drive without some sort of coverage. If you are caught driving without insurance, you probably will not go to jail, but your driver’s license will likely be suspended and you will be fined.

Health insurance

If you do not have health insurance, you will have to pay whichever is higher. In 2014 it was either one percent of your yearly household income or $95 per uninsured adult. In 2015, the fee was two percent of your income or $325 per person, and in 2016, it was 2.5 percent of your income or $695 per person. In 2017 and beyond, the fee will be adjusted for inflation. So make sure to look into what health insurance coverage is right for you and your family.

Umbrella insurance

Think of umbrella insurance as insurance for your insurance. It is an extra amount of liability coverage in $1 million increments that protects over and above your personal and auto liabilities if they become exhausted. Typically a family can add this policy for between $250 to $300 a year. If you need umbrella insurance, it depends on what you have to lose and how concerned you are about getting hit with a lawsuit. To review umbrella insurance or any other types of coverage, schedule an appointment with us so we can go through the options for you.

Why Health Insurance is Needed

No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits.

  • Health insurance covers essential health benefits critical to maintaining your health and treating illness and accidents
  • Health insurance protects you from unexpected, high medical costs.
  • You pay less for covered in-network health care, even before you meet your deductible.
  • You get free preventive care, like vaccines, screenings, and some check-ups, even before you meet your deductible.

If you have any questions about your current policy, or another policy, make sure to contact us. If you do not have health insurance coverage, there are some things that you will not be eligible for. Make sure to know the risks if you do not have health insurance. Consider these factors when deciding whether to buy health insurance.

You may need to pay a penalty

If you choose not to sign up for health insurance, you will need to pay an annual fine at the end of the year. It may not seem like a lot at first, but over time the penalty fee will increase.

You risk financial ruin

You may be healthy now, but the onset of a sudden or serious illness (cancer, diabetes, appendicitis) or a traumatic event (ski accident, car crash) can leave you with staggering medical bills. The inability to pay high medical bills, one of the most common reasons people file for personal bankruptcy, can ruin your credit history and set you back for years. By having health insurance, you can be covered for any accident or unexpected emergency that you or your family might have.

No access to preventive care and primary care

The law requires insurers to cover annual checkups and preventive care, including mammograms, vaccinations, colonoscopies, and prostate cancer screenings, without a co-pay. That means you are more likely to stay healthy and catch health problems early, when they’re easier and less expensive to treat. Policies also must provide a minimum standard of care known as essential health benefits in 10 categories. These include preventive and wellness services, ambulatory (outpatient) care services, emergency care, hospitalization, maternity and newborn care, pediatric care, mental health and substance use disorder services, prescription drugs and rehabilitative and habilitative services, such as specialized therapies and medical equipment to help people facing long-term disabilities.