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What If I Get Diagnosed With A Chronic, Critical or Terminal Illness?

What If I Get Diagnosed With A Chronic, Critical or Terminal Illness?


Chronic illness coverage
is insurance that provides financial assistance to people who are diagnosed with a chronic illness. Chronic illnesses are long-term health conditions that can significantly impact a person’s daily life. Some examples of chronic illnesses include heart disease, cancer, diabetes, and Alzheimer’s disease.

Terminal illness coverage is insurance that provides financial assistance to people who are diagnosed with a terminal illness. Terminal illnesses are illnesses that are expected to result in death within a relatively short period of time, typically 6 to 12 months. Some examples of terminal illnesses include cancer, ALS, and Lou Gehrig’s disease.

Critical illness coverage is insurance that provides financial assistance to people who are diagnosed with a serious illness, regardless of whether the illness is terminal or chronic. Some examples of critical illnesses covered by critical illness insurance include heart attack, stroke, cancer, organ transplant, and blindness.

All three types of coverage can be valuable financial tools for people who are facing serious health challenges. Chronic illness coverage can help people pay for the high cost of treatment and care associated with chronic illnesses. Terminal illness coverage can help people pay for end-of-life care and other expenses. Critical illness coverage can help people pay for the unexpected costs associated with a serious illness, such as medical bills, travel expenses, and lost income.

Here are some specific examples of how chronic, terminal, and critical illness coverage can help people:

A person with heart disease can use chronic illness coverage to pay for the cost of medications, doctor’s visits, and rehabilitation.

A person with cancer can use terminal illness coverage to pay for experimental treatments or to make sure that their loved ones are financially taken care of after they pass away.

A person who has a stroke can use critical illness coverage to pay for the cost of rehabilitation and to help them make necessary modifications to their home.

If you are concerned about the financial impact of a serious illness, you may want to consider purchasing chronic, terminal, or critical illness coverage. These types of coverage can provide much-needed financial assistance during a difficult time.

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What is a Long Term Care Rider (LTC)? Do I or Should I Have One?

What is a Long Term Care Rider (LTC)? Do I or Should I Have One?

A long-term care (LTC) rider is a feature or rider on a life insurance policy that allows the policyholder to access the death benefit while they are still alive to pay for long-term care expenses. Long-term care expenses can include things like home health care, assisted living, and nursing home care.

LTC riders can be a good option for people who are concerned about the cost of long-term care and who want to have a way to pay for those expenses without having to deplete their savings or rely on family members for financial assistance.

Here are some factors to consider when deciding if you need a long-term care rider:

Your age and health: If you are older or have a chronic health condition, you are more likely to need long-term care in the future.
Your financial situation: If you have limited savings or other assets, a long-term care rider can help you protect your assets and ensure that you have the money you need to pay for long-term care.
Your family situation: If you have a spouse or dependents who rely on you financially, a long-term care rider can help you ensure that they are financially secure if you need long-term care.

If you are considering a long-term care rider, it is important to compare different policies and riders to find the one that is right for you. You should also talk to your insurance agent about the eligibility requirements and any fees associated with accessing the rider’s benefits.

Here are some specific questions you can ask your insurance agent:

What types of long-term care expenses are covered by the rider?
What are the eligibility requirements for accessing the rider’s benefits?
Are there any fees associated with accessing the rider’s benefits?
How does the rider affect my life insurance policy’s death benefit?

If you have questions about your policy or are interested in learning more about LTC Riders, please reach out to your agent.

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What Are Living Benefits & How Can They Help Me?

What Are Living Benefits & How Can They Help Me?

Living benefits are features or riders on life insurance policies that allow the policyholder to access the death benefit while they are still alive. These benefits can be used to pay for a variety of expenses, such as:

Medical expenses associated with a terminal or chronic illness
Debt, such as mortgages or loans
Long-term care
Quality-of-life expenses, such as travel or hobbies

Living benefits can be especially helpful for people who are facing serious health challenges or who are nearing retirement. They can provide much-needed financial assistance in a time of need.

Here are some specific examples of how living benefits could help you:

If you are diagnosed with a terminal illness, you could use a living benefit to pay for expensive medical treatments or to make sure that your loved ones are financially taken care of after you pass away.

If you are diagnosed with a chronic illness, you could use a living benefit to pay for long-term care, such as home health care or assisted living.

If you are nearing retirement and have accumulated significant debt, you could use a living benefit to pay off your debt and improve your retirement income.

If you have a young family, you could use a living benefit to pay for college tuition or other expenses.

Of course, there are some limitations to living benefits. For example, may need to have a certain type of life insurance policy or meet certain medical criteria in order to qualify. Additionally, there may be fees associated with accessing living benefits.

Overall, living benefits can be a valuable financial tool that can help you meet your needs during difficult times. If you are considering purchasing life insurance, be sure to ask your insurance agent about the living benefits that are available.

As you review your insurance portfolio, here are some specific questions you can ask your insurance agent about living benefits:


What types of living benefits are available on my policy?
What are the eligibility requirements for each living benefit?
Are there any fees associated with accessing living benefits?
How can I use living benefits to pay for my expenses?

If you’re not sure if your policy includes living benefits, or if you think you’d like more information about adding them to your policy, don’t hesitate to reach out.

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What is California’s FAIR Plan?

What is California’s FAIR Plan?

For California residents facing challenges in obtaining homeowners insurance due to various risk factors such as living in high-risk areas or having older properties, the California FAIR Plan (Fair Access to Insurance Requirements) offers a potential solution. The FAIR Plan is designed to provide basic fire insurance to high-risk homeowners who are unable to obtain coverage through preferred property insurers. It operates as a shared market where licensed insurance companies collaborate to share the risk of insuring California homeowners who do not qualify for voluntary coverage.

While the coverage offered by the FAIR Plan is more limited than a standard homeowners insurance policy, it still protects homeowners from shouldering the full cost of a loss out-of-pocket. The basic FAIR plan typically covers named perils such as fire, lightning, internal explosion, and smoke. However, additional coverage options can be added at an extra cost to provide a more comprehensive level of protection.

Eligibility for the California FAIR Plan is contingent upon meeting certain requirements. Applicants must own a single-family home, townhome, condo, or rental unit in California, and the property must fulfill specific building requirements. However, the FAIR Plan does not cover vacant homes that are unoccupied for 50% of the year, properties with existing unrepaired damages, or homes involved in illegal activities based on state and federal laws.

Regarding the cost, FAIR Plan premiums vary depending on several factors, including the property’s location, age, condition, proximity to a fire station, claims history, coverage types, and deductibles chosen. However, FAIR Plans are generally more expensive than standard home insurance policies. On average, California homeowners pay $1,428 for $250,000 in dwelling coverage, but with a FAIR Plan, homeowners should expect a higher rate.

To acquire a California FAIR Plan, homeowners need to go through a licensed insurance broker. The broker will first determine if the homeowner qualifies for preferred homeowners insurance coverage through the traditional marketplace before considering the FAIR Plan. Once the application is completed and approved, the first month’s premium must be paid to activate the coverage.

In response to increased wildfire risks, major insurance companies have stopped, canceled, or paused homeowners insurance policies in California. As a result, the demand for FAIR plan coverage has risen.

KEY FEATURES OF THE FAIR PLAN:

It’s a Last Resort Option:
The California FAIR Plan serves as an insurer of last resort for homeowners who are unable to obtain coverage through the private insurance market due to high-risk factors, such as living in areas prone to natural disasters like wildfires or earthquakes.

It Offers Very Basic Coverage:
The FAIR Plan provides basic property insurance coverage, usually focusing on named perils like fire, lightning, internal explosion, and smoke. However, the coverage is generally more limited than a standard homeowners insurance policy.

It Operates Though a Shared Market:
The FAIR Plan operates through a shared market system, where licensed insurance companies participate and share the risk of insuring high-risk homeowners who do not qualify for voluntary coverage.

You Can Purchase Additional Coverage Options:
While the FAIR Plan offers basic coverage, homeowners have the option to purchase add-on coverages at an additional cost to customize their policies and enhance protection.

It’s Designed for High-Risk Areas:
The plan is specifically designed for homeowners residing in high-risk areas where private insurers are hesitant to provide coverage due to the increased likelihood of potential claims.

Eligibility Requirements:
Homeowners must meet certain requirements to qualify for the FAIR Plan. The property must be a single-family home, townhome, condo, or rental unit in California, and the home must fulfill specific building requirements.

Higher Premiums and Deductibles:
FAIR Plan policies often come with higher premiums and deductibles compared to standard insurance policies due to the higher risks associated with the covered properties.

Association with California Earthquake Authority:
FAIR Plan customers can purchase a separate earthquake insurance policy through the California Earthquake Authority (CEA) if they desire additional earthquake coverage.

It’s essential to keep in mind that insurance policies and regulations can change over time, so for the most up-to-date and accurate information about the California FAIR Plan, it’s best to consult your agent.

Posted by admin in Home
Allstate & State Farm Stop  Writing New Property Coverage In California

Allstate & State Farm Stop Writing New Property Coverage In California

Allstate, the state’s fourth-largest property and casualty insurance provider, and State Farm, the state’s largest provider, have stopped selling new home, condominium or commercial insurance policies in California. The insurance giants are the latest to say than they will no longer offer coverage in California, citing worsening climate and higher building costs that have made it harder to do business in the nation’s most-populous state. The moves by Allstate and State Farm may lead more home owners in the state to lean on the FAIR Plan, a state-offered “insurer of last resort” in high-risk fire areas.

California’s Department of Insurance says that the policy changes are related to factors “beyond our control, including climate change, reinsurance costs that have impacted the entire insurance industry, and global inflation.” Unfortunately, this issue is likely to spread to other carriers in much the same way as it has in the auto insurance market, so what do you need to know?

• Make your premium payments on time. There will no longer be a grace period for late payments and, more than likely, you will not be able to get the policy reinstated at the same price.
• Set your payments up on auto pay, with a few days cushion, to ensure there are no issues
• If your policy is already on auto pay, confirm that the payments are coming out of your account as expected.
• Expect your premium to increase with your renewal and know that there maybe a waiting period before your coverage goes into effect.
• Respond immediately to any requests from your insurance company, and call your agent if you have any questions or need clarification.

Posted by admin in Auto, Home
What is Accidental Death Insurance, and Why Should I Consider Purchasing it?

What is Accidental Death Insurance, and Why Should I Consider Purchasing it?

Accidental death insurance is a type of insurance policy that provides financial protection in the event of an accidental death or certain types of serious injuries. It pays out a minimum of $100,000 to your designated beneficiaries if you die or suffer specific injuries due to an accident.

Here are some reasons why you might consider adding an accidental death policy to your insurance portfolio:

• You get 100% of your premium back at the end of the 20 years if you have not made a claim.

• Guaranteed coverage, with no medical exam, as long as your premiums are paid on time.

• Accidental death insurance specifically covers accidents, which means it can provide an additional layer of protection beyond other types of life insurance policies. It can offer financial support to your loved ones in case your death is caused by an accident.

• The cost of the policy is about $30 a month, that will never change over the 20 year life of the policy, but the benefits paid to your loved ones increase every year. This affordability can make it an attractive option, especially for individuals who may not qualify for or afford higher-cost life insurance due to health issues or other factors.

• Accidental death insurance can supplement your existing life insurance coverage. While life insurance typically covers death from all causes, accidental death insurance focuses specifically on accidents. By combining both types of coverage, you can enhance your financial protection.

• Purchasing accidental death insurance can provide peace of mind to individuals who participate in activities like extreme sports, hazardous occupations, or frequent travel. Knowing that there is an additional safety net in place can alleviate concerns and provide a sense of security.


It’s important to note that accidental death insurance only covers accidents and does not provide coverage for deaths resulting from illnesses, natural causes, or suicide and does not provide coverage for deaths resulting from illnesses, natural causes, or suicide.

Policy terms and conditions can vary, so we recommend that you thoroughly review the policy with your agent before making a purchase.

Posted by admin in Life Insurance