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Health Insurance Quotes For Children Only Question & Answers

2014 February 2
by Sarah Fields

Betty asks…

Where can I Find Reliable Cheap Life Insurance Quotes?

I recently started a home internet based business. When I was just starting out I went without insurance for a while. Now that things are going well I would like to buy a life insurance policy.

There are a ton of life insurance sites, but most of them seem biased or focused on an individual provider. Where can I find a good life insurance quote site that is unbiased or gives me quotes from a wide array of services?

Also, are there any good tips for saving money buying life insurance for small business owners?

Sarah Fields answers:

As a life insurance agent who deals with insurance day in and day out I appreciate your frustrations from looking at thousands of insurance sites. My site
http://www.smartlifeinsurancequotes.net addresses these issues.

The following are five of the most common mistakes consumers make when buying life insurance.

1. Selecting term life insurance solely because it’s cheap.
Shopping for life insurance by just comparing premiums is asking for trouble. You should compare company ratings to determine financial strength and policy features, such as convertibility options. While the policy’s premium is certainly a factor, ensuring that your policy matches your financial goals is more important.

2. Not understanding that term life insurance is temporary.
That’s why it’s called “term” insurance — because you buy it for a set period of time, most commonly 20 years. This is fine for a temporary need, such as insuring yourself until your mortgage is paid off or funding your children’s college expenses in the event of your premature death.

A 20-year level-term life insurance policy you bought when you were 30 would expire when you’re only 50. At that point, you still might need to carry insurance, but your age and health conditions might make it impossible or very expensive to do so. At least, if your policy has a convertibility option you can get coverage, it just might be down right unaffordable.

3. Buying from a less-than-stable insurance company.
Don’t be afraid to ask about an insurance company’s ratings. You can also look for an insurer’s Standard & Poor’s, Moody’s or A.M. Best ratings on the Internet.

There are many insurance carriers with high financial ratings (A+ or better) so you shouldn’t have to buy insurance from a lower rated company. But, keep in mind that ratings can and will change, so ratings alone shouldn’t be your only consideration.

4. Buying life insurance coverage based on a set formula.
You may have heard that a good rule of thumb is to buy life insurance coverage equal to 10 times your annual salary or 10 times your beneficiary’s annual financial need. The idea is that if your surviving beneficiary invests the life insurance proceeds in the stock market (getting an average 10 percent annual return), they’ll have a steady income stream and never need to tap the investment principal.

While this formula isn’t a bad place to start, everyone has different needs, so don’t assume that 10 times your salary is what you need to carry in life insurance. The best advice here is to sit down with a knowledgeable agent that will take the time to learn about your needs.

5. Failing to regularly review your policy.
Is your former spouse still the beneficiary of your life insurance policy? Did you buy term insurance to cover you while you pay off your mortgage? If you refinanced during the latest rate drop and restarted the clock on your loan, you might also need to update your insurance term. Life definitely has a way of throwing changes your way. Just make sure your life insurance changes along with you.

Also when shopping on the internet for insurance be careful of sites that are there purely as lead generators because these sites just sell your informations. But, there are plenty of legitamte and trustful site on the internet than one can purchase insurance.

You can tell the good from the bad by taking these steps.
1- do not put information in a from unless you actually get a real quote.
2- look for site that have a phone number with real agents that answer the phone.
3-If the sites says get quotes from multiple agents then the site is selling your information as a lead service.

Sites like http://www.smartlifeinsurancequotes.net can serve as an excellant resource to start your online life insurance shopping. They have agents that you can speak to or email. You can get quotes from over 140 companies with a robust data base.
They are many sites like these but you have to do you research. Like anything else there is the good and bad and the internet is the best place to start your search.

Good luck
Insguy

Thomas asks…

Medicaid for only my husband and unborn child, but not me?

I am covered under my mom’s insurance until I am 26. I’m only 22 right now, and pregnant. My husband has no health insurance at all. Would it be smart to have just my husband apply for Medicaid for himself and our unborn child? I ask this because with both mine and my husband’s income, we go a couple hundred dollars over the income guideline, but without my income he’d be below the guideline. Would it even matter? We have looked at so many quotes for family health insurance, and there’s no way we could afford even the cheapest that we’ve found.

Sarah Fields answers:

Neither of you can apply for medicaid for the child, until it is born. Many states also won’t give medicaid to able bodied adults (your husband). And although unborn baby counts as a person if YOU are applying for Medicaid, he won’t count as a person for husband to apply for Medicaid. Most of the time, if MOM is on Medicaid, baby is automatically covered for the first month or two (depends on state), but it doesn’t work that way for dad.

Additionally, the income guidelines for a pregnant woman, are way WAY higher than for an adult man . . .so if you were looking at the income sheet for pregnant women, that won’t apply to your husband’s benefits.

Yes, family health insurance is very expensive.

Lisa asks…

Question about state health insurance in georgia?

Im moving from Massachusetts to Georgia in march. My work doesn’t offer insurance so we are on commonwealth care. Its state insurance. Im trying to find out if there is state insurance in ga as well iv got children and need insurance for them. Im not sure if the job im taking will offer some but in the mean time I need something. Can someone tell me if they have state health insurance or some type of low cost for low income? Thanks.

Sarah Fields answers:

Medicaid exists under different names in each state but you’ll have to apply for it again when you move, and the rules to qualify for assistance may vary from one state to another. Contact Georgia’s state department of insurance or department of health to learn more. You may also want to check out the non-profit Foundation for Health Coverage Education (www.coverageforall.org). They provide state by state rundowns of all the public health insurance options available.

Another option: You may find that buying health insurance on your own is a lot more affordable in Georgia compared to Massachusetts, so look into it. Work with an agent, online or off, to get quotes and compare plans for yourself and your kids. It doesn’t cost anything extra to work with an agent and it can help you save time and find the best match for your needs.

If you’re new to buying health insurance on your own, you may want to check out the health insurance buyer’s guide we published online:

http://www.ehealthinsurance.com/individual-health-insurance/resources/buyers-guide

Best of luck.

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