In Burlington, NC, most people do not want to talk about health insurance. It is a complex topic that uses complex language that not everyone can understand. It is an expensive coverage that has always been a matter of national interest but brought very little to help people understand everything. Don Allred Insurance is dedicated to helping people in North Carolina to understand some essential facts surrounding this topic.
Your Kids are Covered
As a health insurance holder, you don’t have to pay extra money for your kids because they are covered. Surprisingly, your kids will be covered until 26 years, even when they are out of school. This is something you need to know and exploit where possible.
You Share Expenses
If you are employed, you share the monthly premium contributions with your employer. The law states that you will pay a certain percentage, and your employer will top up to have your monthly insurance premium covered. Don’t be duped into thinking that it’s your employer who pays for your health insurance premiums.
It Is Better Than Out-of-Pocket
People will always complain about how expensive health insurance is. However, it is better to have this policy because, in the long-term, it is better than out of pocket payments. The cost of health has gone up by more than 300%, and the only security you can have is a health insurance cover.
Choose the Best Cover
There are several packages of health insurance policies that you can consider depending on your income and family. Always analyze all the possible insurance policies and choose the one that fits your budget and reduces the out-of-pocket payments.
Are You Looking for Health Insurance?
If you are looking for health insurance in Burlington, NC, Don Allred Insurance understands that it is time-consuming and may be difficult to get the right cover due to the complexities involved. Call us today for more information about health insurance.
Everything you need to know about the term and whole life insurance
When you visit an insurance company in Burlington, NC, to buy life insurance, the first thing the agents will ask you is the type of life insurance you want to buy. It’s easy to be at crossroads when you are unsure what each offers or how they work. If you are in that specific situation, here is what Don Allred Insurance wants you to know.
Term vs. whole life insurance what you need to know
You will typically have two options when it comes to life insurance. They are the oldest and most popular types of life insurance. Like any other insurance policy in Burlington, NC, life insurance can be incredibly complex when you dig deeper. So, to keep things simple and more straightforward, we are going to look at the two, their differences and their suitability.
Term life insurance
Term life insurance is one of the most comfortable and most affordable types of life insurance. Many people prefer this policy as it promises a death benefit if you pass away after purchasing it. It’s also flexible as it allows you to pay your premiums for a specific duration, and you can withdraw and use the money as you please. While the premiums are relatively low, you need to consider other aspects of the policy like larger death benefits or longer coverage duration, making it more expensive. You also need to be careful with time as term insurance has an expiry date.
Whole life insurance
Whole life insurance simply means no expiry. Your coverage never expires as long as you are paying your premiums. You pay the same rate from the very beginning, and the premiums are split between building cash value and the rest goes to the insurance component. However, it more expensive than term life insurance.
For more information about life insurance, feel free to contact Don Allred Insurance today!
For over 30 years, Don Allred Insurance has helped Burlington, NC residents find insurance coverage. We proudly serve the community as an independent insurance agency. We assess each of our client’s situations to help them find the right policy for their needs.
Common Health Insurance Mistakes
Health insurance allows you to enjoy a comfortable lifestyle. The policy covers you as you seek treatment in the event that you become ill. Health insurance also covers your preventative care, such as your yearly checkups with your doctor. Health insurance also covers different types of medication that your doctor may prescribe to help you feel better. While you research different policies, avoid some of these common mistakes.
The biggest mistake to avoid while researching coverage is neglecting deadlines and potentially missing out on your enrollment opportunity. Keep in mind that there is an open enrollment period every year where you can sign up for a new policy or amend your current policy. If you forget the enrollment deadlines, you may be stuck with your existing coverage.
Making Sure That Your Doctor Is In The Network
Every health insurance policy includes a specified network of primary care physicians and doctors that you are allowed to visit under the terms of your policy. If your doctor falls outside of the network, you may have to inquire about another policy or you can choose to amend your current one. Networks change regularly and you want to avoid being locked into a local Burlington, NC health insurance policy that you aren’t comfortable in.
Failing To Plan For The Future
As you research different policies, don’t forget to think about how things may change in the future. Things may change as you progress through life. Perhaps an accident causes your health to change. It’s important to plan for the future.
Don Allred Insurance Will Help You Find Coverage
Visit our website today to learn more information about health insurance.
Life insurance is an important part of most people’s financial portfolio. It provides peace of mind that your loved ones will be taken care of in the event of your death. Making sure it is active and will provide the protection you are counting on is important. At Don Allred Insurance in Burlington, NC, we have more than 40 years of experience minimizing our customer’s risks. As an independent agency, we can offer the finest in service and place customer’s needs first.
The most common reason for life insurance to be canceled is non-payment. It can happen to anyone but letting your life insurance premium go unpaid is never a wise idea if you plan to keep the policy. Most companies will allow a 30-day grace period after the due date for you to make the payment. If there are extenuating circumstances you might be able to get an additional 30 days before your policy lapses. If you have a whole life policy you do have some other options. You may be able to use your dividends to pay your policy. Your policy may have a waiver of premium rider. If you have cash value that can also be used to offset your premiums.
If you are having financial difficulties by all means contact your agent and discuss your options. It may be you need to get a less expensive term policy to get you through the difficult times.
Insurance companies take a very dim view of any attempt to defraud them. Never lie on your application. If you have pre-existing conditions that you fail to include on your application, they will cancel your policy if it is discovered. Even worse is the fact they can refuse to pay a claim if the fraud is discovered.
Contact Don Allred Insurance in Burlington, NC for all your insurance needs.
Life insurance is one of the many ways you protect your family and loved ones. How much protection they need depends on many different factors. Talking to an insurance agent you trust can help you to come up with the amount of life insurance that is enough. For more than 40 years Don Allred Insurance has been serving the residents of Burlington, NC as well as the towns of Graham and Mebane. As independent agents, we work for our clients, not for one insurance company and this allows us to provide great service and affordable prices.
One factor to think about when coming up with the right amount of life insurance is your age. A good reason to purchase life insurance when you are young is the rates. Age and health are both things insurance companies consider when they price life insurance. Another consideration is term life will end after the term is over and you need to anticipate the amount you will need in 20 or 30 years.
Life insurance is designed to provide for the people who depend on your income. How much you will need depends on how many people there are and how many years you will need to provide for them. If you have young children, you may have to provide for 15-20 years. Your partner likely works so this life insurance won’t need to be the only support but protection means not having to worry. You don’t want your family to have to change their way of living if you’re not there with them.
No one can tell you exactly how much life insurance is enough but the recommended amount is 7-10 years of your income. If however, you don’t have dependents, you will need a much smaller amount.
Contact Don Allred Insurance in Burlington, NC to discuss your life insurance needs.
Getting the right health insurance policy is one of the most important decisions you make every year. It isn’t all about the price of the policy. It is a fine balance between affordability and protection. At Don Allred Insurance in Burlington, NC, we have more than 40 years of experience providing our customers with personalized service.
Before you decide on a health insurance policy, there are some important questions you need to ask. The answer to those questions will help you pick your coverage.
Is my doctor in the provider network?
Every health insurance company has a provider network. These are health care providers who have made an arrangement to provide services for prearranged prices. If you have a primary care doctor or a specialist whom you prefer, it is important to make sure they are in the network of the carrier you are considering.
Are my prescription medications in the formulary?
A formulary is a list of the medications that are allowed by a particular insurance carrier. They are listed by tiers. The tiers have different copays and deductibles. You need to make sure your medication is included and what tier it is in.
What is the deductible on the policy?
Many policies have a deductible that must be met. If it is thousands of dollars it could mean that almost nothing would be covered unless you have a very major illness or accident. These are usually referred to as high deductible policies.
In Burlington, NC, Don Allred Insurance is the place to go when you want an independent insurance agency whose objective is to identify and minimize our customer’s risk. We know health insurance and we can help make sure that you get the policy that is right for you. Give us a call or stop in to get a no-obligation quote.
A Health Savings Account is a great way to defray the extra expenses that your health insurance may not cover. Burlington, NC residents can direct any questions they have about health insurance and health savings accounts to the agents of Don Allred Insurance. They have the answers to the tough questions when their clients have concerns about their health insurance policies.
An HSA Is Not Health Insurance
A health savings account is not health insurance. It is a savings account that can be used to cover specific types of medical expenses. High-deductible insurance policies are cheaper in the long run but costly until you pay the deductible. A health savings account can be used to pay your deductible and other medical expenses.
HSA’s Pay for Medical Expenses That Aren’t Covered by Health Insurance
Health savings accounts fill in the gaps by covering expenses that aren’t covered by your health insurance. This includes deductibles, prescriptions, supplements, and other medical expenses that often slip through the cracks.
HSA’s Are Another Type of Savings Account
A health savings account is a savings account is designed to help you save money for unexpected medical expenses. Money that is put into an HSA is dedicated to your health care costs and shouldn’t be spent on other types of expenses.
The agents of Don Allred Insurance offer residents of Burlington, NC an opportunity to learn more about health savings accounts and how they can defray the cost of additional expenses. They can answer your questions and help you identify whether or not a health savings account would benefit you. Call today and schedule a review of your health insurance policy and ask for more information about the benefits of an HSA.
Those that live in the Burlington, NC area are going to have many different forms of insurance needs. One form of personal insurance that you should consider getting is life insurance. There are several reasons why someone should consider getting a life insurance policy and adding it to their total personal insurance plan.
Ensures Financial Protection for Dependants
One important reason to get life insurance is that it can help to protect the financial future of your dependants. If you have people that rely on you or your income, you will want to make sure that you are protecting it as well as possible. While saving money and being diligent is part of it, so is getting life insurance. With a life insurance policy, you can ensure that your dependant’s future costs will be covered.
Provides Investment Alternative
Another reason that you should get life insurance when you are in North Carolina is that it can give you a good investment alternative. If you choose to get a whole life insurance policy, it will allow you to earn additional interest income while also receiving life insurance protection. This could make it a good conservative investment option that will also provide you with protection for your dependents.
Anyone that is in the Burlington, NC area will want to ensure that they get a quality life insurance policy. Since it can be confusing to choose a life insurance policy here, it is a good idea to speak with someone that you can trust. The team at Don Allred Insurance can give you the guidance and support that you need to choose a new policy. Don Allred Insurance is able to do this by assessing your situation and helping you build a personalized plan.
When you’re dealing with a local independent insurance agent there are numerous benefits. One of these is that they can sit down and discuss your health coverage needs to come up with the best policy package. Don Allred Insurance agents are instrumental in providing such services to people in the Burlington, NC area.
Help with Understanding Terms
There’s much involved in health insurance paperwork and the language in other communications about your insurance. It’s in your best interest to have an expert talk through what different terminology means. Don’t worry about how you’ll look if you ask a lot of questions as this is definitely important to do before you go further into the process.
Advice from a Professional
Your agent can be your personal advisor. They’ll figure out what you need to be covered adequately. They’ll take the time it needs to listen to your health history and what you’re looking for in a policy. Remember, it’s best to be overly prepared than to find yourself at a loss in terms of your insurance when the time comes to use it.
Advocacy Is Ideal
Your agent also should be an advocate for your insurance issues and help you if you require a change to your coverage. They also are helpful when it comes to assessing your changing needs over time and if it would benefit you to bundle your health insurance with other types of insurance policies.
Personalization Is the Way of the Future
In today’s world, health care is becoming increasingly personalized in its approach. Since different people live different lifestyles and have unique preferences there are more considerations in health insurance policies. A quality agent can customize your insurance to allow for certain offerings such as coverage for specific treatment plans and therapies.
Find Out How Don Allred Insurance Can Help
Don Allred Insurance team members are ready and willing to assist new clients. If you’re in the Burlington, NC area and you’d like to learn more and make an appointment reach out to us today.
You need life insurance coverage to protect your family financially in Burlington, NC. If you have not yet purchased a life insurance policy to meet your needs, we can provide assistance at Don Allred Insurance.
The following are three things that you need to consider to determine the amount of life insurance coverage you need.
The number of dependents you have
The more dependents you have who are relying on you financially, the more coverage you need. If you have five kids, you’ll need more coverage than you would need if you have one kid.
You should also consider whether your spouse is financially dependent on you. If your spouse relies on you financially, you need to invest in more coverage. This means that not only is your spouse relying on you financially, but your spouse may also not be producing a significant amount of income to support your family if something should happen to you.
The amount of time that your dependents will be financially dependent on you
If your children are very young, they’ll be financially dependent on you longer than they would be if they were already in college. Purchase enough coverage to support your family until they become financially independent if possible.
The amount of money you make
The more money you make, the more coverage you’re probably going to want. If your income is high, it’s likely that the living expenses of your family are on the higher side.
Ideally, you want to have enough coverage so that your family could enjoy the same lifestyle if something happened to you that stopped your income from continuing.
If you’d like to learn more about choosing life insurance in Burlington, NC, we’re here to help. Contact us by phone or via our website at Don Allred Insurance to find the right life insurance policy for your needs.