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Health Insurance Quotes For Children Only Question & Answers

2015 December 13
by Sarah Fields

William asks…

What is the best insurance license to start with?

I want to become an insurance agent, and was wondering which license is the best to start out with. I have never worked in the insurance industry before. I have tried to find this answer online but have found 1 person who answered. I’d like more than 1 input before I decide. Thanks.

Sarah Fields answers:

The two main types of insurance liceses are “Property and Casualty” and “Life and Health”.

Property & Casualty allows you to sell auto, homeowner’s, and other similiar coverages to individuals. For businesses you can sell General Liability, Professional Liability, Business Auto, Worker’s Comp, etc..

Life and Health allows you to sell life, health, disability, annuities, etc.. To individuals. For businessess employee benefits such as group health, life, disability, dental, vision, etc..

As for which one is best for you that partially depends on where you live, what type of products you would rather sell, and how you see yourself progessing in the industry.

The pros of “Property & Casualty” insurance is almost all businesses are required to have one or more of the coverages. General liability coverage is required if a businesses leases office space, Worker’s Comp is required by law in most states if the employer has 2 or more employees, professional liability is required by certain industries like malpractice, errors and ommissions covarage for insurance agents, etc.. On the individual side most states require auto insurance and all homeowner’s that have a mortgage are required to have homeowner’s insurance. However these products have lower commissions on average than life & health based insurances. So I would say easier to sell, probably higher volume, but smaller commissions.

Life & Health based insuarnces offer the ability to make more money on the sale of the products, but take more selling skills because the need is not always apparant or at least for the premium being quoted. Life and health allows for alot of cross selling for example: a 35 year old couple with a newborn child may initially need health insuarnce, but other needs like life and disability insuarnce may be prevalent too. Also, the Life & Health industry allows for an easy transition or progression to the financial services industry. Many financial planners start off as a life & health agent and it adds a further dymanic of trust to the client relationship as well as more cross selling opportunities to college planning retirment planning, estate planning, etc..

Either way you should talk with local professionals in both sides. You can also visit the industry organizations websites. I am not sure of one for the property and casuality industry but for the life and health industry you can check out NAHU “National Association of Health Underwriters”, AHIP “American Health Insurance Plans”, and NAIFA “National Association of Insurance and Financial Professionals”

Good luck!!

Mark asks…

How to find good term life insurance?

Looking to get life insurance on myself. Need to replace 70K per year income in the event of my death. Need to support my wife and 4 year old son. What type of insurance would be best, and what type of investment advice could be given for my family to invest the money and live off the interest, leaving the principal untouched?

Sarah Fields answers:

The best type of life insurance would be level term life insurance – either 20 year or 30 year level term life insurance.

Level term gives you coverage that remains level for a specific number of years, and your annual premiums remain level throughout the term of the policy.

The amount would be approximately 14 times your annual income (at least). That way they could take the benefit amount and invest it in a conservative investment vehicle that provides 6-7% annual return. That could be government bonds or a high quality bond fund. Hopefully, if the time ever comes, the interest rates will be higher. However, this does not take into account your existing investments, which would lower the amount of insurance protection your family needs.

To use a life insurance needs calculator, Go to http://www.term-life-online.com/term-life-insurance-calculator.html

The amount of term life insurance a person needs will depend on their specific situation and the reasons for buying the life insurance policy.

One way to decide how much term life insurance you should buy is to consider the needs of your family if you were to pass away prematurely.

Term Life insurance may provide financial security to meet many of your family’s needs by providing a fund they can use to:

Pay off an individual’s debts, such as medical bills, funeral expenses and health care costs

Pay for estate taxes and other expenses related to settling their estate

Provide a lifetime income for your spouse

Pay off an existing mortgage on your home

Pay for your children’s college education

Provide retirement funds for your spouse

Provide an adequate income for your spouse to give your family time to adjust to a new standard of living without you or your income

Receive interest to provide money for some special need – such as travel, education or health care costs.

Provide a monthly income until your children are grown up and living on their own.
The future financial needs of your family should be a major consideration in deciding the right amount of term life insurance to provide the financial security they deserve.

Another contributing factor is the amount of your annual salary. In addition, your family’s style of living they are accustomed to, your monthly expenses and future financial goals, such as, college tuition, retirement funding, vacations and living expenses.

The best way to get the maximum amount of coverage at the lowest rates would be to compare online quotes for term life insurance.

I recommend Insureme – They give you the five best life insurance quotes from top-rated life insurers nationwide. To request a free, no obligation quote, Go to http://www.insureme.com/landing.aspx?Refby=613403&Type=life

I hope that helps! Take care and best of luck!

Lisa asks…

I need to find a job soon but I am 55 and have no skills. Does anyone have some advice for me?

My husband had to take a medical retirement but we have no health insurance. I am 55 but am a hard worker. I have managed a home, and raised 2 kids. I can’t go back to school because I am under pressure and need to bring in an income soon and have health benefits.
Thank you.

Sarah Fields answers:

His medical retirement may qualify him for Social Security disability. Main number, 800-772-1213. He should check into any retirement instruments he had when he was employed in case you need funds quickly. In certain cases, taking money out does not incur an interest or tax penalty. He needs to contact his previous employer’s HR department to ask those questions. Also ask about COBRA – that’s a continuation of health insurance, but expensive, because you pay the whole monthly premium yourself.

If you have a problem with Social Security, call your Senator. Legislators often help people who have problems with bureaucracies to get resolution.

Next, you could register with the state employment office. It isn’t just for those receiving unemployment. Most states have a website where you can sign up to search for jobs. List your skills, pick job titles and descriptions that you feel you may be qualified for.

Make a list of the things you did when you were raising your children and running your house. Many of these skills apply to various types of office work. Organize this into a resume. For instance, if you kept the checkbook and paid the bills, that’s AP/AR skills (payables and receivables). If you made sure everyone got to their scheduled activities, that’s scheduling skills for meetings. Did you do all the shopping, budgeting and meal planning? That’s purchasing and inventory. There’s childcare, personal assistant, housekeeping, computer skills, etc.

Develop a resume, using guidelines from other resume websites such as CareerBuilder or Monster. Guidelines will advise not putting personal information, such as your husband’s medical situation in the resume. DON’T put the year you graduated high school. It tells the employer your age. If you don’t have computer access, you can usually access one at your local library and the librarians will help you get started.

Personally, I wouldn’t use an agency, but many others have had good results. Application process usually means several hours of office skills testing, so it’s a good idea to set aside enough time for those tests. Legitimate agencies never charge a fee to the applicant – ever. If you notice the same job description listed in the newspaper every week, that’s either a difficult place to work, or an agency is culling applicants to keep on file. Waste of your time.

Depending on your own physical situation, you might look into night shift work at grocery stores for stocking or checkout. Many will hire and benefits will kick in at about 90 days. BTW, WalMart and Sam’s Club make their employees wait a full year (at full time hours) before they are eligible for health benefits, so that’s a waste of your time.

If your income is severely impacted, check out your DHS office to see if you qualify for food stamps, Medicaid/Medicare (depending on your husband’s age), housing assistance, etc. Over age 50, you are eligible for many of these services. These offices often have departments that will help you transition into the workforce – help you create a resume, counsel you on job skills and interviewing procedures, give you tips on how to contact companies and present yourself. These services are free.

Network by calling friends, family and neighbors who might have a lead on a job opening or who might be able to ‘get you in the door’.

It is considered unprofessional to just go door-to-door and hand out your resume. Besides, you are never sure the resume gets to the right person.

If you live near a military base, you might want to contact the office that handles deployments – find out the rules, procedures, and how to qualify. Families have to pass cleaning inspections before they are cleared to leave. They often hire people to do that cleaning so they can pass inspection and this pays very well. You make your own quotes. In the early 90s, house cleaners were getting between $250-$450 per house, depending on conditions, and the average time per house was 1-2 days.

Finally, reconsider going back to school. Financial aid is available through FAFSA on the Web, and, again, being over age 50 actually helps you qualify. Just Google FAFSA. The official site ends in ‘gov’. There is no charge if you have reached the actual site. You will recognize it by the three boxes in the middle of the page. If you have questions, call 800-4FED-AID (800-433-3243). Customer service is very helpful and knowledgeable. It’s not too late to apply to many schools – even for summer school. Although income may have stopped suddenly, you can fill out the form and then contact the financial aid office at your local college. These offices often work with people whose circumstances suddenly change.

Hope this gives you some starting points. Good luck.

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