Most people are terrified of the prospect of losing their job. There is a loss of income that is frightening, especially when so many live paycheck-to-paycheck. More importantly, there is the nightmare of losing health insurance coverage. If you, or a member of your family who is on your insurance plan, are ill, this is even more of serious consideration.

What To Do When Changing Jobs

If you know ahead of time that you will be changing jobs or stopping work, be sure to consult with your agent at Don Allred Insurance serving Burlington, NC and the surrounding area. Your agent will help you understand what steps you can take to make a transition to a new insurance program.

What To Do if You Lose your Job

If you unexpectedly lose your job, contact your agent right away. Under most circumstances, there is a short grace period that allows your existing health insurance to continue, which gives time to adjust the coverage and get new insurance if needed. Some insurance carriers allow people to stay covered under a different program. Others do not offer health insurance for individuals and their families if they are not part of a larger group.

Special Enrollment Period

Normally, enrollment in a healthcare program is restricted to just before and after the early part of any calendar year. Under the current heathcare.gov rules (as of December 2019), if you leave a job for any reason or lose your job this qualifies you for a Special Enrollment Period. Usually, you are allowed 60 days from the date of loss of coverage to enroll in a new plan. You must apply for the Special Enrollment Period. Each circumstance is different, so get your agent to help.

Summary

There is no need to panic if you lose your job, just contact your agent at Don Allred Insurance in Burlington, NC to understand your options. If you are unemployed, self-employed, or a small business owner with just a few employees, call your agent at 800-280-2230 for help with all health insurance needs.

When you think about life insurance, most of us think about purchasing this towards the end of our career, something to think about just before retirement. For new parents in their 20’s and early 30’s, now is really the time to start looking at life insurance with Don Allred Insurance. If you live in or around Burlington, NC, here are some things you need to know about life insurance. 

Accidental Death coverage

Ideally, we desire to live a long life that concludes when our health starts to diminish at an old age. However, accidental deaths happen to new parents all the time. When this happens, these new parents who have been planning for the future have failed to plan for their death, leaving their family members to pick up pieces while trying to mourn. 

Life Insurance Options

Because these new parents are still young, they have the option of different life insurance types to purchase. Whether they want a permanent or 30-year policy, there are more options than if they waited and took out the policy at a later time when they are older. Taking the time to determine the best policy for your life is a benefit that many do not get to choose from. 

Leave Financial Assistance

Because these parents have small children, a life insurance policy can leave behind the child(ren) enough money to cover their needs even after the parent has passed away. While death may not be ideal, they can leave their loved ones something to help ease the morning and prevent any financial strains, especially if they depend on that person for their financial support. 

Get your policy today!

If you are a new parent in or around the Burlington, NC area, contact our agents at Don Allred Insurance today for more information. 

Severe weather due to climate change is becoming outrageous. Record winter weather with ice and snow is showing up in early November, six weeks before winter is supposed to officially start. It is a good time to get a home insurance review with your agent at Don Allred Insurance serving Burlington, NC and the surrounding towns, to make sure there is proper home insurance.

Take these severe weather changes seriously because they are likely to get worse. You want to make sure you have adequate insurance. Discuss replacement cost coverage with your agent if you do not already have this protection because the majority of homes are not properly insured for replacement value.

Thunderstorms and Storm Surge

Heavy rainfall that comes down so quickly can easily overload the terrain. There is just nowhere the water can go and the land cannot absorb it quickly enough. When riverbanks overflow, the water can fill the streets and cause mudslides.

Just a few inches of water that enters a house can cause severe damage. Be sure to discuss with your agent the need for an additional policy to protect your home from flood damage because that is usually not included in basic home insurance.

High Winds and Tornadoes

Storms bring wind. Wind causes more damage. Much of the wind damage is to roofs and things that can be blown away or blown down. Trees can fall over and crush anything below. Electrical wires on power poles can snap and live electricity can still run through them, potentially being a source of electrocution. 

Other dangerous things that happen are items that are picked up by a tornado become projectiles. They are thrown at such high speeds that it is like they are shot from a cannon. Tree branches and fence posts can fly through house walls.

Summary

These are just a few of the considerations for insuring a home in North Carolina. When thinking about getting a new home insurance policy, or to check your existing coverage, contact your agent at Don Allred Insurance in Burlington, NC to get an insurance review and a quote.

Purchasing health insurance can be very confusing. So many terms that you may not be familiar with. Some terms that you need to understand before purchasing health insurance are copays, deductibles, drug list/formulary, provider list and maximum out of pocket expense. Don Allred Insurance in Burlington, NC is there to help you to get through this confusing maze of terms and plans. 

Deductible

Before your insurance coverage kicks in, your deductible must be met. More than one deductible may need to be met. Drug coverage is usually a separate deductible from other services. 

Copay

When you receive a service covered by your insurance the copay is the amount that you are required to pay out of pocket after you have met your deductible.  It is usually defined in the paperwork you receive from your insurance company or your employer. 

Drug list/formulary

This is the list of covered drugs under your policy. It can include both branded and generic drugs. The amount that you will pay for each covered drug is defined by the tier it is in with Tier 1 being the lowest. Drugs can have both deductibles and copays. 

Provider list

This is the list of providers who take your particular insurance. Make sure that the doctors and hospitals that you prefer are on the list. 

Maximum out of pocket expense

This term defines the most amount of money that you will need to spend in a year to get to 100% insurance coverage. The lower the amount is, the better for you. The HHS (Department of Health and Human Services) has proposed a maximum of $8200 per person for 2020 and $16,400 per family. 

Health insurance coverage is important and making the correct decision is even more so. In Burlington, NC, Don Allred Insurance will be happy to assist you in this decision. Check out their website or call their office to set up an appointment. 

Life insurance is often thought of as a vehicle to protect families with young children in the event that a parent dies unexpectedly. While this is a key benefit for life insurance, there are still benefits for people without children. If you are in the greater Burlington, NC and would like to gain a greater understanding of the many benefits of life insurance, the team at Don Allred Insurance is here to help. We find that there are a variety of ways that childless people can benefit from having a life insurance policy.

3 Ways Childless People Can Benefit from Life Insurance

1. Whether you have children or not, you will still have burial and end-of-life expenses. With an appropriate policy, you can make sure that your expenses are covered. If you have property or a pet that will need to be cared for after your death, a life insurance policy can make sure that your estate doesn’t become a burden during the probate period.
2. There are several types of life insurance that provide a living benefit, whether it be as an investment or as a way to minimize taxes. Your local agent can review the financial benefits of policies such as whole life, universal, and variable to discover which option is right for your goals.
3. Many childless people become close to nieces and nephews and would like to leave money to them. Life insurance is an effective way to bequeath money to a person or a charitable institution without them incurring a tax liability.

Interested in finding out more? If you are Burlington, NC or the surrounding area, contact Don Allred Insurance today and learn about the benefits of life insurance, whether you have children or not. We look forward to working with you!

There are many perks to working as a freelancer, but clear-cut healthcare isn’t one of them. In fact, most freelancers worry about being able to cover their healthcare needs in case of an emergency.

Whether you’re just starting out or you’re a veteran freelancer, companies like Don Allred Insurance have some great options for you to choose from in terms of healthcare.

Here are some tips on buying healthcare as a freelancer.

1. Consider Getting A Family Health Plan

Do you have a spouse with a traditional job? If so, you can potentially consider tagging along on his healthcare plan from work. If you have children, adding them to a family plan to an employer may also be a good idea.

However, keep in mind that if your spouse loses his job, you automatically lose your healthcare. So instead of buying healthcare subsidized by their employer, consider buying a family plan through a private insurer in Burlington, NC. This route may save you some money since you don’t have to invest in individual monthly premiums for everyone in your family.

2. Decide Your Monthly Healthcare Budget

Speaking of monthly premiums, before you purchase a healthcare policy, decide how much you can afford to spend on your premium each month. You shouldn’t have to spend a large fraction of your income on healthcare, but expect to pay more for private insurance than you would pay if it were subsidized by an employer.

That being said, if your healthcare coverage keeps you from developing a serious illness or keeps a condition at bay, the price is worth it. In your monthly budget, include a section for healthcare. If you have a health condition that you definitely need coverage for, research the price of a policy that covers it. Then, figure out how it can fit into your budget.

If you’re simply looking for preventative care, work out your budget first, and then choose your coverage based on your math.

3. Sign Up As A Business Or Self-Employed Individual

Most private insurance agencies including Don Allred Insurance can provide coverage specifically for self-employed people. You can also sign up as a business owner. this is especially helpful if you have a small group of employers who can benefit from healthcare coverage.

if you’re a solo freelancer, a self-employment coverage policy makes the most sense. This is especially true if you don’t have a family or if you’re not the head of your household.

Buy Your Healthcare Today

Are you ready to make the most of your health as a freelancer? If you live and work in Burlington, NC, contact Don Allred Insurance. Our friendly agents will be happy to give you a free quote and help you find what you’re looking for.

When it comes to life insurance, most people are often told to purchase a life insurance policy so your kids are provided for if you pass away early or so that your spouse can continue on with their same quality of life. But what if you don’t have kids or a spouse? Does a single person need life insurance? We are often asked this question here at Don Allred Insurance, serving the Burlington, NC area. Here is the answer that this question. 

Final Expenses 

One of the reasons why a single person may need life insurance is to help pay for their final expenses. When you pass away, who will pay for your final expenses and how? Your parents or siblings may be responsible for finding the money to pay for a cremation, burial and/or funeral. Purchasing life insurance ensures that there is money to pay for those expenses so no one in your family has to struggle with covering those costs. 

Joint Debts

Another common reason why a single person may need life insurance is because of joint debts. If your parents co-signed on your student loans, and you pass away, they may still be responsible for them. Have you purchased a home with your sibling and make part of the payment? Then they may rely on your money and could struggle to pay the mortgage if you pass away. Purchasing life insurance helps to ensure that there is money to pay for the debts that you have outstanding with someone else. 

Being single does not mean you cannot benefit from purchasing a life insurance policy. Are you looking to purchase a life insurance policy in the greater Burlington, NC area? Call Don Allred Insurance today to obtain a free quote for life insurance today.