Finance : Life Insurance Benefits

The general family has children and those children are placed under their parents’ insurance. “Statistics show how the affordable act affects young adults between the ages of 19-26. By the year of 2012, Millions of uninsured young children were added” (Jonathan Oberlander, 2008). Some young adults seem as if they have less job stability compared to the older workers. These individuals were among the surplus of those who would not want to repeal the ACA (Obama Care). In the creation of the ACA is has increased the profit for insurance companies. Members could get more premiums from other health sources, such as department of health services, but some are not beneficial in the long run. Most will end up having to pay the debt off other tax payers which are making it affordable for others to have the current insurance that is available to them now, considering that this is indefinite reasoning. Having children under parents’ insurance could very well

“But insurers in many counties are offering such a dizzying array of health insurance plans with so many subtle differences that consumers have struggled to determine which plan is best for them” (Pear, 2015). One of the attractive features of affordable coverage is the low monthly premium. With these attractive numbers, some people might even choose to give up their employer coverage to save the extra money. Naturally, consumers would most likely be fond with the low premiums rather than the quality of the plan. However, low premium is only worth the price that is paid for. The high deductibles lie within these low cost plans could cost the patients a fortune when they receiving the care. As this happen, the Affordable Care Act is no longer serve its purpose in helping to increase the quality and affordability of health insurance as well as reducing the cost of healthcare. Instead, the Obama Care only succeeds in reducing uninsured rate of the population. The lack of understanding about the healthcare coverage could become financially burden to the consumers’ family if they choose to use the plan.

This means that young adults seeking jobs and careers can still be apart of their family plan. “Thank goodness for federal health reform that allowed my parents to keep me on the family's policy so I can receive preventive care” (Taft, 1). More reforms such as routine preventive care have helped save lives. “I decided to get an affordable checkup. That was when a blood test showed something wrong with a liver enzyme, prompting me to follow up with my regular doctor. An ultrasound, CT scan and liver biopsy later, I was diagnosed with stage 4 colon cancer. After surgery to remove both ovaries, lymph glands and much of my colon, as well as chemotherapy, I can now say I'm a cancer survivor. But without that preventive visit, I might not have made it” (Leinz, 1). Examples such as these are reasons as to the good Obama Care has done to protect their

If you plan on pursuing a life insurance policy that pays dividends, here are a few things that you need regarding paying taxes on the dividends and the types of policies available to you.

In recent years I have experience personally how important life insurance is with the death of both my parents only five weeks apart. Funerals are very expensive so thank goodness my parents planned wisely. Short and long term disability is all so important. As I previously stated I am not getting any younger and I now things can happen, so I want to make sure I have income coming in just in case.

Getting a routine physical is one of the best ways to stay proactive about your health. During a physical, the doctor can diagnose and treat small problems before they escalate and give your appropriate tips about living a healthy lifestyle. Though it's natural to be nervous before getting your first physical, try to relax by preparing beforehand with these five tips.

Death is an uncomfortable reality to face, but its arrival should never mean financial ruin for your family and estate. With a healthy dose of realism and a little research, you can make sure your family is provided for. Metlife, one of the most trusted names in insurance, is one such provider of final expense coverage.

Old Age, Survivors and Disability Insurance (OASDI) – or more commonly known as Social Security – is a federally funded program that gives money to workers after retirement, spouses and children of deceased workers, and workers who become disabled before they retire. It is financed through a payroll deduction tax (FICA); currently a combined 12.4% deduction from workers and their employers (Tax Topics). It currently has a base wage limit or tax cap, the maximum wage that is subject to the tax for a particular year, of $118,500 (Tax Topics). President Franklin Delano Roosevelt signed the Social Security law in 1935, at which time thirty-four other countries in Europe already had some form of retirement plan in place.

The 1961 film, "A Raisin in the Sun," is a classic film, but it also provides insurance agents with an insight into how life insurance can change lives. The plot concerns a family of five living in a small apartment after the death of the family patriarch. They are awaiting a check from the insurance company that each wants to use for a different purpose; although the check is "only" $10,000 in the film, it is important to remember that in today's money, the payout would be more than $80,000.

Many people make the mistake of spending a lot of time choosing the right type of life insurance for their families but they don't spend enough time choosing the amount of coverage to opt for. Obviously, it's important to choose enough coverage to protect your family. However, you don't want to choose too high an amount because your premiums may be unnecessarily high and the cost of your premiums may cut too deeply into your budget. Below is a list of the 4 main areas of coverage to consider when choosing your life insurance coverage amounts.

Many life insurers undertake cost-reduction strategies in order to improve the strength and flexibility of their products. For instance, car insurance companies calculate by placing a large stock in age and driving record. The same is true for life insurance, married couple enjoy discount privileges compared to single individuals. Furthermore, many characteristic such demographics, life style and pre-existing conditions can increase the cost and the number of uninsured population. According to Abraham (2014), one of the ACA’s main goal is expanding coverage to the uninsured, nonelderly US population (P.65). While the likelihood to obtain insurance as a result of this policy may increase, less attention has been focused on their health indicators

One of those cons is the deductions to the compensations. There are deductions that can make the amount lower than it already was. Amanda Ripley explains that it “Deduct life insurance, pension, social security death benefits, and workers compensation” (2). It shows that, if an individual is working at a low-income, their loved ones will receive a deducted compensation for their death. There is another matter that is included. On LifeHappen’s value calculator, it states that “For the purpose of this calculator, a human life only has economic value in its relation to other lives, specifically a spouse or dependent children. Therefore, if you have neither, the calculator will not generate a result.” (LifeHappens,1). In the results, it will not give compensation to your parents if you have neither spouse nor children. So instead of trying to ameliorate the situation, it backfired and will lead to no value at all. In the end, it gives a very negative result to how it is reimbursed to the individual’s

Our office will submit claims for insurance carriers with which we accept. We are devoted to offer quality and in many cases beyond the basic therapeutic care to our patients. In the end, it is your responsibility to know your particular coverage benefits. Comprehensive physicals, inoculations, certain laboratory tests, procedures, and prescribed medications including nourishment and herbal supplements may not be covered. Prior authorizations might be finished at the consideration of our doctors. Therefore, we can not ensure that all services and treatments we give or suggest are covered by your insurance. In additional, we can not simply change codes with a specific end goal to adjust insurance coverage as it is fraudulent and prohibited.

Typically, people who need to provide for others after death will purchase a life insurance policy. Although there are many types of life insurance policies, the common thread between them are beneficiary designations. In simple terms, once the policy holder perishes, the listed beneficiary will receive the proceeds from the policy. However, listing beneficiaries on a life insurance policy needs careful attention for reasons mentioned in the article List Your Beneficiaries Wisely in Your Estate Plan. Otherwise, after death, unintended consequences may occur. So, to avoid unintended consequences, properly listing beneficiaries on a life insurance policy is essential.

In this paper I will discuss and summarize three articles, “Human Capital, Asset Allocation, and Life Insurance” by Peng Chen, Roger G. Ibbotson, Moshe A. Milevsky, and Kevin X. Zhu, “Asset Allocation in a Crisis” by Brian Jacobsen, and “The Pool and the Stream” written by Susan Trammell.