STAY ONE STEP AHEAD
EXPLORE THESE POLICIES:
SHORT TERM MEDICAL
TERM LIFE INSURANCE
What is Major Medical Insurance?
You may know Affordable Care Act (ACA) plans as major medical, comprehensive coverage, or even “Obamacare,” but whatever you call them, these plans meet all the requirements of the ACA and are typically the most comprehensive on the market. If you have a chronic illness or face a medical emergency, these plans can help prevent staggering expenses.
ACA plans provide benefits for a broad range of health care services, both inpatient and outpatient, and can save you money on routine doctor visits, prescription drugs, preventative care, hospital stays, and more. These plans are available to almost everyone, and you can’t be denied based on preexisting conditions.
Short Term Medical
What is Short Term Medical?
Short Term Health Insurance is major medical insurance that provides coverage for a defined period of time and generally has a much lower monthly premium than other forms of major medical health insurance.
There are two other big advantages of Short Term Health Insurance over other forms of major medical insurance such as an Obamacare (ACA) plan or an employer-based plan.
You can use your Short Term Health Insurance plan to pay for services from
ANY doctor or hospital. Yes, you can keep your doctor!
Short Term Health Insurance plans have no open enrollment restrictions, so you can apply at anytime. You will be notified within minutes if your application is approved, and you can use your coverage as early as the next day!
Why choose a Short Term Medical?
1. There is No Annual Open Enrollment Period.
2. Short Term Health Insurance is Flexible.
If you are not enrolled in a plan before the Open Enrollment deadline, you won’t be able to purchase an Obamacare plan unless you meet certain special requirements.
In contrast, you can enroll in a Short Term Health Insurance plan at any time.
The ACA requires each ACA plan to include 10 essential health benefits. Maternity services is one of these benefits and is required to be covered by all Obamacare plans. As a simple example, a single male who buys an ACA plan will have maternity coverage that he’ll never need.
With Short Term Health Insurance, the plans offer streamlined benefits--those that a healthy member is more likely to use--hospital, doctor, x-ray and other treatment benefits in case of illness or an accident.
Will Short Term Health Insurance Work For Me?
STM Insurance might be right for you if you:
Have missed the annual Open Enrollment periods for Obamacare/ACA plans.
Are in between jobs, a part-time or temporary worker, or looking for a less expensive alternative to COBRA.
Are a student, a recent graduate, or have aged out of your parent’s health plan.
Have retired but are too young for Medicare.
Your preferred doctor or hospital doesn't accept Obamacare or an Obamacare plan isn't available in your area.
Have a waiting period before you can enroll in another major medical insurance plan.
Like millions of Americans, you simply can’t afford Obamacare
What is Limited Medical?
Critical Illness plans
Policies that only pay a pre-determined amount, regardless of total charges
"Hospital Cash” policies.
These plans are not regulated by the Affordable Care Act and are not suitable to serve as a person’s only medical coverage. But in some cases, they can be a good supplement to a high-deductible major medical plan.
Limited-benefit plans are medical plans with much lower and more restricted benefits than major medical insurance, but with lower premiums.
Limited-Benefit plans include;
Why Consider a Limited Medical Plan?
In short, Limited Benefit plans offer a cash payout to cover medical expenses of your choice. The policy guidelines will indicate any restrictions for how the benefit can be used.
It’s a great option if you want to access benefits without waiting periods and deductibles, or if you need a PPO network with portable coverage. Medical Underwriting is not always required depending on the carrier.
What is Term Life Insurance?
Term life insurance is a kind of life insurance policy that covers you for a set period of time—not your whole life—and pays out a lump sum of money to your beneficiaries if you die while the policy is in effect. Term life insurance is the simplest and most affordable form of life insurance, and is often the best type of life insurance policy for most shoppers. Unlike whole life insurance policies, which can be complicated and expensive, term life insurance quotes are easy to understand and offer the cheapest rates on financial protection for your loved ones. There are several types of term life insurance, which we’ll describe below.
How Term Life Insurance Works
Term life insurance lasts a set amount of time. Policies are usually sold in 10, 20, or 30-year terms
You’ll make monthly or annual payments, called “premiums,” to keep the policy in force.
If you die while the policy is in force, a pre-set cash payment called a “death benefit” will be paid out to whomever you name as a beneficiary. The bigger you want this payment to be, the more your premiums will cost.
At the end of the term, the policy expires and is no longer in effect.
Reasons to buy a Term Life policy
Protect your family from debts such as mortgage, student loans, etc
Create a retirement fund for your spouse
Pay for your children’s college tuition and other long term costs
Cover short term debts and needs that arise in your absence