No, your Medicare Supplement Plan is guaranteed renewable and non-cancellable, which means as long as you pay your monthly premium payment the insurance company can never cancel your coverage or single you out in any way due your health. In addition, a Medicare Supplement company can never raise your rates individually based on your ongoing health or claims history. This means your company can never single you out for rate increases based on your own use of the plan or any health issues you had during the year. Even if you have had hundreds of thousands of dollars of medical costs paid for by your Medicare Supplement company, they cannot use this in any way to make you pay a higher rate than the rest of the people in your plan.
Final Expense Life Insurance is a family planning tool designed to protect and benefit your loved ones when you pass away. When an individual passes, a family is faced with a great deal of work and numerous bills and expenses. Final Expense Life Insurance provides an instant death benefit that enables your loved ones to have a clear plan and source of funds to handle these costs, allowing an appropriate and effective environment to come to peace and celebrate the life of their loved one.
• Final expense insurance is always a type of whole life insurance, which is a form of permanent life insurance. Unlike term insurance, which only pays off if you die during the “term” of the policy, a whole life policy remains in effect for your entire life, guaranteeing that the benefit will be there no matter how long you live (as long as you continue to pay your premiums).
• With a level benefit whole life insurance, the premiums and the death benefit are guaranteed to remain the same for as long as you keep the policy in effect.
• A whole life policy also comes with guaranteed cash values that grow over time on a tax-deferred basis. If necessary, you can access your cash account for a variety of purposes. The death benefit paid to your beneficiaries will always be tax free.
A final expense life insurance policy is permanent life insurance, so the coverage is guaranteed to last for your entire life, no matter what age you live to. Once you pass away, your beneficiaries will receive a cash payout of the amount of your policy (known as the Death Benefit), which can be used to pay for your funeral and memorial services, unpaid bills or debts, other expenses, or can be left as a gift or inheritance. A final expense life insurance policy will not expire and can only be cancelled if you stop paying your monthly premiums.
Final Expense Life insurance is designed to be a permanent solution to take care of a permanent goal. This means when you put your policy in place it is intended to last your entire life, which could be a very long time, so making sure you get the best price on your coverage when you first put your policy in place can add up to a lot of savings over your lifetime.
In the past it was very difficult for people to make sure, or even identify, if they were getting the best price on their policy. There are a lot of insurance companies and a lot of options to choose from so it was nearly impossible to figure out the prices for each one. Now however, online resources make it easy for you to compare various providers from your home, comfortably, clearly and confidentially.
By researching an securing your policy with an online service, you will benefit from transparency of the marketplace that allows you to compare various insurance carriers and policies and ensure that you have decided on the best priced and most suitable option for you and your family. It also gives more power to the consumer by allowing online consumers to plug in various policy options, plan types, and coverage amounts to really show individuals and families the plans that best fit the needs of their own specific situation and budget. In addition, learning about, identifying and purchasing your coverage online eliminates the distressing pressure of pushy salesman and unwanted strangers in your home who may make you feel rushed into a decision.
The world-changing rise of the Internet has made shopping clear, convenient, and efficient for just about anything you can imagine. Today, people are even purchasing cars and homes online. This world-changing rise has now reached the world of insurance coverage for senior citizens in America.