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Life insurance, Health insurance and Long-Term Care customized to your needs.

Life Insurance:

Life insurance refers to an agreement between an individual and a policy provider where in the latter agrees to pay a specific sum in the event that the individual dies or when he grows critically ill. For his part, the individual is obliged to pay the provider a pre-determined amount in the form of regular premiums or as a lump sum. The agreement also stipulates that the benefit of the plan is gong to be paid to a designated beneficiary such as a spouse, child or any other family member.

Aside from protecting your family from financial crisis in case something happens to you, life insurance can also work as a flexible money-saving technique. Depending on the type of insurance plan you’re going to purchase, this can give you a more comfortable retirement.

Life insurance can either be temporary or permanent.

  • Temporary Insurance

This is the least expensive and simplest kind of policy. In this setup, the provider agrees to pay a lump sum to your designated beneficiary in the event of your death. The death benefit is the same as your policy limit. It offers temporary coverage because it is only valid for a particular term – i.e. one or two years – after which, you have the option to renew it or let it expire.

  • Permanent Insurance

In this life insurance policy, the agreement between you and the provider is effective for life. Payout is always assured when the policy matures and the plan also accrues cash value unlike with term insurance where you only get a fixed amount.

Permanent insurance comes in four different types:

  • Whole life – in this insurance plan, you ensure permanent protection for your designated beneficiaries and build cash value account in the process. Death benefit is paid to your beneficiary while you get a low risk cash value account as well as a tax-deferred cash accumulation. The premium amount is also fixed. The insurance provider is going to manage your policy for you and where your money is going.
  • Universal life (UL) – this is a relatively new product that provides permanent insurance coverage with more flexibility when it comes to premium payment. It also provides potentially higher internal rate of return for the insured. In this type of life insurance policy, you have a cash account with premiums increasing the cash account as with the other types of permanent plans. It is more flexible than whole life because the internal rate of return can go up according to how your interest is credited when you pay your premiums. It also moves alongside financial markets and prevailing interest rates.
  • Variable – variable insurance also provides for more account flexibility that is suited for individuals who are more risk oriented. In this plan, you get a low-risk and tax-free cash accumulation. The death benefit will vary according to the fund returns that the cash value account accrues. Another good thing about Variable plans is that they let you borrow money from your policy during your lifetime.
  • Universal variable life – This life insurance plan brings together the benefits of Universal life and variable insurance policies. It is more flexible because it provides you with several different accounts where you can invest your premiums. Like variable insurance, you can withdraw or borrow from the policy any time.

Benefits of having life insurance

As earlier mentioned, life insurance, particularly the permanent policies, can serve as an effective money saving vehicle. Its a form of a unique investment which can also protect your assets.

The good thing about life insurance is that you’re protecting your family’s financial interests while you’re also, in a sense, building a better future for them in the event that something bad happens to you. In this case, insurance becomes an investment that works both ways: asset protection and wealth accumulation.

Long Term Care Insurance:

While all of us are bound to get to a stage when we’ll encounter difficulties caring for ourselves, only a few people are interested in planning for long term care. Long term care insurance is not a commonly acquired insurance product. It’s not so popular even though it is really important.

Steps for planning for long term care

1. First, assess your need for long term care in the future:

It’s difficult to know for certain whether or not you will be needing long-term care later on. But assessing risk factors will help you gauge on the necessity. Talk to your doctor about your medical history and your lifestyle choices so you understand your risks. It would also help if you decrease the risk through the help of your physician.

2. Explore options for maintaining your health:

A lot of people tend to forget that their lifestyle choices today can hugely impact their health later in their lives. Research suggest that disability and chronic disease are not inevitable because of old age. It’s never too late to start adopting a healthier lifestyle.

3. Consider where and how you want to receive long term care:

Before you purchase a long term care insurance policy, you want to consider where you want to receive care in case you need it for an extended period and staying at home is not an option. There are many resources where you can view services and providers for long term care, your financial advisor can help.

Benefits of long term care planning

Many people still don’t see the benefits of planning for long term care. It’s easy to be complacent about not needing it when you feel that you’re healthy enough at present. But you never really know what could happen in your old age.

Planning for long term care and taking out a long term care insurance allows you to understand the service options provided in your community for specific conditions. It helps you foresee the expenses that you could incur for such services and how you can get insurance that will help you foot the bill.

Planning ahead for long term care is important because the cost of services often goes beyond what an average individual is capable of paying with his income and additional resources. It helps you save your income and your assets, allocating some for the time when you need a facility to care for you for a longer period of time. Planning for long term care also reduces the emotional and financial stress on your family. You still maintain a certain degree of independence so that you never have to be a burden to your children or your spouse.

Most important of all is the fact that planning for long term care provides you with greater flexibility and independence in selecting where you can receive care. You don’t have to be limited to what your budget can afford or to what the government can offer you. You can obtain the best assistance possible with the right long term care insurance and proper planning.

Health Insurance:

Choosing quality health care

When shopping for health insurance, one of the most important things that you have to consider is the type of health care that you need. It’s important to note that health care quality varies a lot. It’s a known fact that some health plans and care providers simply do a better job at keeping you healthy than others.

Everyone values quality health care which is a good thing. This is why making the right health care choices is just as important. You want to ensure that you have a higher chance of getting better with the right medical attention should you grow ill.

There are a number of health care options provided these days and your choice of health insurance will depend on the type of medical attention you will get. Your health plan will affect who will take care of you and the flexibility of your choices, where you will receive health care, when you will receive it and, most important of all, how much you will need to pay for medical attention.

What to consider when selecting health care

  • Your doctor. Certain health insurance plans require you to consult with a doctor from their network. If you have a physician who you want to keep seeing for your medical issues, you want to check if the doctor is including in the plan’s list. If you’re open to changing doctors, you can always check the credentials of the physicians accredited by the health plan.
  • Access to specialists. If you feel that you may need to consult a specialist in the future, you want to find out if your health insurance covers such treatments.
  • Emergency care. Health care options cover emergency care. You want to find out which hospitals and emergency rooms are covered by your health plan. Logically, you want the hospital nearest your home or your workplace to be covered.
  • Health screenings. It’s a good idea to go for health care plans that cover health screenings and regular physicals. A lot of managed care plans have this provision but independent insurance providers may not cover them.
  • Prescription drugs. If you’re currently under medication, you want to consider health plans that cover prescription drugs. There are insurance plans that provide full coverage, partial and none at all.

Your options for health care plans

Health insurance comes in three general types: fee for service, HMO and PPO. Each has its own benefits and setbacks.

  • Fee-for service plans

Also called indemnity plans, they are health plans that allow you to consult any doctor of your choice. They provide the most flexibility but at a higher price. The good thing about this type of health care is that you have free rein on who you get it from and where you get it.

  • Health Maintenance Organizations

An HMO is a network of health care providers and medical facilities that provide a fixed package of services at a fixed price. You will get a primary care physician who will determine whether or not you need to consult a specialist for your condition. The good thing about an HMO is that you have lower and more predictable out-of-pocket costs for health care.

  • Preferred Provider Organizations

PPOs feature the managed care aspect typical of HMOs but they also provide more flexibility because they allow you to consult with a health care provider who is outside their network of professionals and clinics as needed. They still cover your health care for providers outside the network although the benefits are less.

Keywords: Life Insurance, Long term care insurance, Health care Insurance

Life Insurance, Long term care insurance, Health care Insurance LOS ANGELES COUNTY:

Acton - Agoura Hills - Alhambra - Altadena - Arcadia - Artesia - Avalon - Azusa - Baldwin Park - Bell - Bellflower - Beverly Hills - Burbank - Calabasas - Canoga Park - Canyon Country - Carson - Castaic - Cerritos - Chatsworth – City of Industry -Claremont - Compton - Covina - Culver City - Diamond Bar - Downey - Duarte - El Monte – South, - El Segundo - Encino - Gardena - Glendale - Granada Hills - Hacienda Heights – Harbor City - Hawaiian Gardens - Hawthorne - Hermosa Beach - Huntington Park - Inglewood - LA Los Angeles - La Canada Flintridge - La Crescenta - La Habra Heights - La Mirada - La Puente – La Verne - Lawndale – Long Beach – Lynwood - Malibu - Manhattan Beach - Marina del Rey - Maywood - Mission Hills - Monrovia - Montebello – Monterey Park - Montrose - Newhall - North Hills - North Hollywood - Northridge - Norwalk - Pacific Palisades – Pacoima - Palmdale - Palos Verdes - Panorama City - Paramount - Pasadena - Pearblossom - Pico Rivera - Playa del Rey – Playa Vista - Pomona - Rancho P.V. - Redondo Beach - Reseda - Rosemead - Rowland Heights - San Dimas - San Fernando – San Gabriel - San Marino - San Pedro - Santa Clarita - Santa Fe Springs - Santa Monica - Sherman Oaks - Sierra Madre – Signal Hill - South Gate - South Pasadena - Stevenson Ranch - Studio City - Sun Valley - Sunland - Sylmar - Tarzana – Temple City - Topanga - Torrance - Valencia - Valley Village - Van Nuys - Venice - Walnut - West Covina - West Hills – West Hollywood/LA Los Angeles - Westlake Village - Whittier - Wilmington - Winnetka - Woodland Hills .

Life Insurance, Long term care insurance, Health care Insurance ORANGE COUNTY:

Aliso Viejo – Anaheim – Anaheim Hills – Balboa Island – Brea – Buena Park - Capistrano Beach – Corona del Mar – Costa Mesa – Cypress – Dana Point – Foothill Ranch - Fountain Valley – Fullerton – Garden Grove – Huntington Beach – Irvine – La Habra – La Palma - Ladera Ranch – Laguna Beach – Laguna Hills – Laguna Niguel – Laguna Woods – Lake Forest - Los Alamitos – Midway City – Mission Viejo – Newport Beach – Newport Coast – Orange – Placentia – Rancho St. Margarita – San Clemente – San Juan Capistrano – Santa Ana – Seal Beach – Silverado – Stanton – Sunset Beach – Surfside – Trabuco Canyon – Tustin – Villa Park – Westminster – Yorba Linda .

Life Insurance, Long term care insurance, Health care Insurance RIVERSIDE COUNTY :

Aguanga – Anza – Banning – Beaumont – Blythe – Cabazon – Calimesa – Canyon Lake – Cathedral City – Coachella – Corona – Desert Center – Desert Hot Springs – Hemet – Homeland – Idyllwild, Indian Wells – Indio – La Quinta – Lake Elsinore – Mecca – Menifee – Mira Loma – Moreno Valley, Mountain Center – Murrieta – Norco – North Palm Springs – Nuevo, Palm Desert – Palm Springs, Perris – Rancho Mirage – Riverside – San Jacinto – Sun City – Temecula – Thermal - Thousand Palms – White Water – Wildomar – Winchester .

Life Insurance, Long term care insurance, Health care Insurance SAN BERNARDINO COUNTY :

Adelanto – Angeles Oaks – Apple Valley – Barstow – Big Bear City – Big Bear Lake – Bloomington, Blue Jay – Cedar Glen – Cedarpines Park – Chino – Chino Hills – Colton – Crest Park – Crestline, Daggett – Fawnskin – Fontana – Forest Falls – Grand Terrace – Green Valley Lake – Helendale – Hesperia – Highlands – Hinkley – Joshua Tree – Lake Arrowhead – Landers – Loma Linda - Lucerne Valley – Lytle Creek – Mentone – Montclair – Morongo Valley – Needles - Newberry Springs – Ontario – Oro Grande – Phelan – Pinon Hills – Pioneertown - Rancho Cucamonga – Redlands – Redlands – Rialto – Rim Forest – Running Springs - San Bernardino – Sky Forest – Sugarloaf – Trona – Twentynine Palms – Twin Peaks – Upland, Victorville – Wrightwood – Yermo – Yucaipa – Yucca Valley .

Life Insurance, Long term care insurance, Health care Insurance SAN DIEGO COUNTY :

Alpine – Bay Park – Bonita – Bonsall – Borrego Springs – Boulevard – Campo – Carlsbad - Chula Vista – Clairemont – College Grove – Coronado - Del Mar – Descanso – Downtown – Dulzura, East San Diego – El Cajon – Encanto – Encinitas – Escondido – Fallbrook – Grantville – Hillcrest, Imperial Beach – Jacumba – Jamul – Julian – La Jolla – La Mesa – Lakeside – Lemon Grove - Linda Vista – Logan Heights – Mission Village – National City – Normal Heights – North City West, North Park – Ocean Beach – Oceanside – Pacific Beach – Palomar Mtn – Paradise Hills - Pauma Valley – Pine Valley – Point Loma – Potrero – Poway – Ramona – Ranchita - Rancho Bernardo – Rancho Penasquitos – Rancho Santa Fe - San Carlos – San Diego - San Marcos – San Ysidro – Santa Ysabel – Santee – Scripps Ranch – Solana Beach - South San Diego – Spring Valley - Spring Valley – Tierrasanta – University City – Valley Center, Vista – Warner Springs .

Life Insurance, Long term care insurance, Health care Insurance VENTURA COUNTY :

Bell Canyon – Camarillo – Fillmore – Moorpark – Newbury Park – Oak Park – Oak View – Ojai Oxnard – Piru – Port Hueneme – Santa Paula – Simi Valley – Somis – Thousand Oaks – Ventura Westlake Village .

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