What, Why and How of Life Insurance

Text 408-854-1883 for a field underwriter near you and to match your insurance needs from 17 insurance carriers.
What is term life insurance? Provides death insurance coverage for 10, 20 or 30 years with no cash accumulation and return of premium. More affordable than whole life insurance.
John Hancock: Runner-Up, Best Overall 
AIGBest Level Term 
Transamerica: Best Guaranteed Renewable Term
Mutual of Omaha: Best for Young Families ; Includes accidental death benefit rider (2x death benefit), children rider and waiver of premium rider
Mutual of Omaha has added a new product to their portfolio, Guaranteed Advantage Accidental Death InsuranceGuaranteed Advantage pays a benefit to your clients’ family if they die as a result of an accident. When term life declines happen or the client can’t afford the premiums.
How much life insurance do I need? Based on your assets and income, you want to insure your value in the event of death to pay for the mortgage balance, other debts and to leave and estate to your family.
Most insurance companies say a reasonable amount for life insurance is six to 10 times the amount of annual salary. Another way to calculate the amount of life insurance needed is to multiply your annual salary by the number of years left until retirement.

The calculations behind life insurance rates are all about life expectancy. That’s why life insurance costs more as you get older.
If you outlive your policy term, the insurance ends and you must buy another policy if you still want to carry life insurance. However, the annual premium for another policy could be quite expensive because you’re older and an insurer will take into account health conditions. That’s why it’s important to choose a suitable term length early in life.
You would need to buy an additional term life policy at an extra charge if you find a term life policy isn’t sufficient.
Which is better term or whole life insurance? Use term or whole life insurance based on your financial and insurance goals. If you want to leave a legacy or an estate to your family with no cash accumulation and return of premium, choose Term life.
Whole life insurance is a “straight life” or “ordinary life,” is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date. Whole Life Insurance is permanent insurance with strong guarantees. It has a guaranteed death benefit, guaranteed premiums, and guaranteed cash value growth.
Cash Value builds inside of whole life insurance policies. Imagine this cash value portion like a savings account, that you can access at any time. We say it is a savings account because the cash value will only go up. It never fluctuates up and down. You can get extra cash value by getting more paid-up additions on your policy. See infinite banking. You can access the cash value by:
– Loans
– Distributions
– Take out dividends as cash
Life Insurance Amount Calculation: How much life insurance do I need?
Another way to calculate the amount of life insurance needed is to multiply your annual salary by the number of years left until retirement. For example, if a 40-year-old man currently makes $20,000 a year, the man will need $500,000 (25 years x $20,000) in life insurance.
what is universal life insurance
how much is life insurance
what is supplemental life insurance
how does term life insurance work
what age should you buy life insurance
what does life insurance cover
how to buy life insurance
how much life insurance can i get without a medical exam
what is universal life insurance and how does it work
how life insurance works
how much does life insurance cost
what are the disadvantages of universal life insurance
how do i pass the life and health insurance exam
what is the difference between term and whole life insurance
how much do you get for selling life insurance policy
how long does a beneficiary have to claim a life insurance policy
what companies offer return of premium life insurance
what age is best to get life insurance
what is the maximum age for term life insurance
how much can i borrow from my life insurance policy
how do i cancel my metlife life insurance policy
what is the cash value of a life insurance policy
what types of death are not covered by life insurance
how long do you have to have life insurance before you die
how to find out if someone has life insurance
what is permanent life insurance
which of these is not considered to be a common life insurance nonforfeiture option
who pays taxes and insurance on a life estate
what is the difference between mortgage protection and life insurance
what happens if you outlive your term life insurance policy
what is basic life insurance
who owns life and casualty insurance company of tennessee
which life insurance is best
what are the disadvantages of term life insurance
what is freedom life insurance company of america
how long does it take to receive death benefits from life insurance
what is the best life insurance
who needs life insurance the most
how are dividends from a participating life insurance policy normally treated
how hard is the health and life insurance exam
what is the free look period of life insurance
what happens when you surrender a life insurance policy
what is the most reliable life insurance company
what are typical term life insurance rates
how long does it take for whole life insurance to build cash value
what does a whole life insurance policy mean
what are the tax consequences of cashing in a life insurance policy
how to find a life insurance policy exists
how do life insurance companies make money
what is life insurance and how does it work
what is non medical life insurance
what is voluntary life insurance
how many life insurance policies can you have
who is the best life insurance company
what is the difference between whole life insurance and term life insurance
how much term life insurance do i need
what are the different types of life insurance
what is group life insurance
who needs life insurance
why buy life insurance
a whole life insurance policy endows when the
which is better whole life or term life insurance
what is the purpose of life insurance
how much can you borrow against your life insurance policy
what age should you get life insurance
which of the following types of insurance policies is most commonly used in credit life insurance
what does liquidity refer to in a life insurance policy
how long does it take to receive life insurance death benefits
which of the following statements about noncontributory employee group life insurance is false?
when twin brothers applied for life insurance from company a
how much life insurance do i need calculator
when should you get life insurance
how to find out if a deceased person had life insurance
what is a permanent life insurance policy
which life insurance settlement option guarantees payments for the lifetime of the recipient
what happens if you stop paying whole life insurance premiums
which is better term life insurance or whole life insurance
which of the following is the best reason to purchase life insurance rather than annuities
how to find out if i am a beneficiary of a life insurance policy
how does universal life insurance work
how to find life insurance policy after death
who has the best life insurance
how to cancel life insurance
what is whole life insurance policy
what does the ownership clause in a life insurance policy state?
what life insurance companies do not require a physical
what type of life insurance incorporates flexible premiums and an adjustable death benefit?
how long does nicotine stay in your system life insurance
what type of life insurance should i get
how do life insurance agents get paid
which of the following is an example of liquidity in a life insurance contract
what is a universal life insurance policy
how much is term life insurance
which of these factors does not influence an applicant’s need for life insurance?
what is a rider on a life insurance policy
which life insurance rider typically appears on a juvenile life insurance policy?
what is cash surrender value of life insurance
what is life insurance corporation
how long does it take for life insurance to be distributed
how much is a million dollar life insurance policy
how much life insurance should you have
what is a term life insurance
who can change the beneficiary on a life insurance policy
who benefits in investor-originated life insurance (ioli) when the insured dies?
how to sell life insurance successfully
how much life insurance
why do i need life insurance
what is cash value life insurance
the person who receives financial protection from a life insurance plan is called a
how to become a life insurance agent
which of the following is true about credit life insurance
what kind of special need would a policyowner require with an adjustable life insurance policy?
how long does it take to cash out life insurance policy
how to pass life insurance medical exam
what is the difference between whole life insurance and term
what is the best life insurance policy
how much is life insurance for a 55 year old?
how much is a unit of colonial penn life insurance
how long does it take to get life insurance
how much do american income life insurance agents make
which is better term or whole life insurance?
how much life insurance should i get
how to find out if life insurance policy exists
the minimum age at which a person can sign a life insurance application is
which of the following households most likely has the greatest need for life insurance?
which statement regarding third-party ownership of a life insurance policy is true?
how much life insurance do i really need
how to get life insurance license
what happens in term vs whole life insurance lifeinsurancementors.com
how to use life insurance in your retirement planning

Trends in medical health insurance, costs and expenses by state

Employer-sponsored insurance (ESI) is the primary source of health insurance coverage for individuals under age 65

This chartbook uses data for private-sector establishments in the Medical Expenditure Panel Survey-Insurance Component (MEPS-IC) to describe trends in employer coverage, premiums, and benefits from 2003 to 2016.

Medical Expenditure Panel Survey Insurance Component 2016 Chartbook. Rockville, MD:
Agency for Healthcare Research and Quality; September 2017. AHRQ Publication No. 17-0034-EF. https://meps.ahrq.gov/mepsweb/data_files/publications/cb21/cb21.pdf.

The MEPS-IC is an annual survey of private employers and State and local governments and is designed to be representative of all 50 States and the District of Columbia. The large sample size (about 42,000 establishments), combined with a response rate of 67.6 percent in 2016, permits analyses of variations in ESI by firm size and across States that are not readily available from other sources.

Examining trends by firm size and across States is important because of variation in insurance markets along these dimensions. Insurance markets differ by firm size due to smaller firms’ more limited ability to pool risk and their higher administrative costs compared with larger firms. State variation in ESI markets may reflect differences in employment patterns, health care prices, and utilization, as well as differences in State approaches to regulating private insurance and
administering Medicaid.

The period presented in the chartbook, 2003 to 2016, shows trends through a period of change in national health policy that could have affected national ESI trends, as well as trends by firm size.

Starting in 2014, most people were required to either obtain health insurance or make an
individual shared responsibility payment. The employer shared responsibility provisions began to take effect for employers with 100 or more full-time-equivalent employees in 2015 and for employers with 50 or more employees in 2016.

 

Coinsurance Rates for Physician Office Visits

From 2003 to 2016, the percentage of enrolled employees in plans with coinsurance rates increased from 19.5 percent to 34.9 percent. There were significant year-to-year increases in the percentage of enrolled employees with a coinsurance rate from 2005 to 2006 and from 2009 to 2010 and then each year from 2011 to 2015 (Exhibit 5.7).

The percentage of enrolled employees in a health insurance plan that had a coinsurance rate for physician office visits did not change significantly from 2015 (35.0 percent) to 2016 (34.9 percent) (Exhibit 5.7).

Enrolled employees in large firms (100 or more employees) were more likely to have plans with coinsurance rates than enrolled employees in smaller firms in all years from 2003 to 2016. In 2016, 38.9 percent of enrollees in firms with 100 or more employees had
coinsurance rates compared with 20.6 percent and 21.5 percent in firms with fewer than 50 employees and with 50 to 99 employees, respectively (Exhibit 5.7).

Between 2003 and 2016, the percentage of enrolled employees in health plans with a
coinsurance rate increased for all enrollees, regardless of firm size. However, the increase was more pronounced among enrolled employees in firms with 100 or more employees (17.9 percentage points) than in smaller firms (5.4 and 6.9 percentage point increases at firms with fewer than 50 employees and with 50 to 99 employees, respectively) (Exhibit 5.7).

Among enrolled employees in plans with physician office visit coinsurance rates, average coinsurance rates increased from 18.0 percent in 2003 to 20.5 percent in 2016 (Exhibit 5.8).

Average coinsurance rates rose from 20.1 percent in 2015 to 20.5 percent in 2016, an
increase of 0.4 percentage points. This increase followed increases of 0.6 percentage points from 2013 to 2014 and 0.3 percentage points from 2014 to 2015 (p <0.10) (Exhibit 5.8).

From 2013 to 2014, average coinsurance rates for enrolled employees at firms with 100 or more employees increased from 18.8 to 19.5 percent, but there was no significant change in smaller firms. In contrast, from 2014 to 2015, average coinsurance rates for enrolled employees at firms with fewer than 50 employees increased from 21.5 to 22.6 percent, while there was no significant change at larger employers.

Click to access cb21.pdf

Why you need a health coach, health concierge and caregiver

30% increase in patient healthcare costs

The shift to consumer-centered healthcare likely comes from rising patient financial responsibility. Patient healthcare costs – including both deductibles and out-of-pocket maximum payments – have increased by 29.4 percent since 2015, the report showed.

The average deductible is $1,820 and the average out-of-pocket maximum cost is $4,400, Black Book reported.

Providers likewise are reporting troubles in the wake of increased patient financial responsibility. When patients owe more for their healthcare, it becomes more difficult for patients to afford their care. This leaves providers vulnerable to missed patient payments, a major revenue cycle challenge.

Holistic and health education

You can email motherhealth@gmail.com for health coaching online and remote. We also have caregivers in the bay are for 4 hr shift or live in to help those of you who are caring for your parents.

Take care of yourself. Get a foot massage, take some quality nutritional supplementation at

http://www.clubalthea.pxproducts.com

A $150 budget per month can be life saving if these supplements can reset your genes to a younger you. I have difficulty sleeping so quality supplements are important for me. I am always on the go with more than 2 jobs.

This slideshow requires JavaScript.

 

State -wide senior caregiving cost

state wide caregiving senior care cost.JPG

Each state, city and county have different caregiving cost based on standard of living in the selected city.

You can enter your city and needs in this site at AARP to get an estimated cost for senior care:

http://www.aarp.org/relationships/caregiving-resource-center/LTCC/

Motherhealth caregivers in the bay area charges between $250 and up for 24-hr care to assist seniors in daily living, light housekeeping, massage, cooking, medication management and more. Call 408-854-1883 for 1-hr response time and free referrals to care homes and senior facilities in the bay area.

care 1

Senior care cost in the bay area

Live-in care is cheaper than hourly care.  Motherhealth caregivers charges $250 for 24-hr care versus $350 or $450 with other home care agencies.  There is a discount when two clients per house are being cared for. It would be difficult for an older spouse to care for his/her spouse.

Most of our clients call for caregivers during the late stage of cancer or life of their parents.  We have live-in clients in Richmond and other places 1-2 hours away from the bay area.  Each of our caregivers provide references but we still train them again based on the needs of each client.  Our case managers monitor both the clients and caregivers regularly.

Why live-in care is preferred? Most home emergencies happen early morning and middle of the night.  Our caregiving fees include cooking, light housekeeping, assistance in daily living, medication management, driving, and other tasks needed to coordinate care for seniors at home.

Caregivers are trained to treat seniors like family so that most of our clients prefer to work with us.

care 1

Better health outcome with PACE – Program of All-Inclusive Care for the Elderly

Program of All-Inclusive Care for the Elderly

The Programs of All-Inclusive Care for the Elderly (PACE) provides comprehensive medical and social services to certain frail, community-dwelling elderly individuals, most of whom are dually eligible for Medicare and Medicaid benefits . An interdisciplinary team of health professionals provides PACE participants with coordinated care. For most participants, the comprehensive service package enables them to remain in the community  rather than receive care in a nursing home. Financing for the program is capped, which allows providers to deliver all services participants need rather than only those reimbursable under Medicare and Medicaid fee-for-service plans. PACE is a program under Medicare, and states can elect to provide PACE services to Medicaid beneficiaries as an optional Medicaid benefit. The PACE program becomes the sole source of Medicaid and Medicare benefits for PACE participants.

Financing for the program is capped, which allows providers to deliver all services participants need rather than limit them to those reimbursable under Medicare and Medicaid fee-for-service plans. The PACE model of care is established as a provider in the Medicare program and as enables states to provide PACE services to Medicaid beneficiaries as state option.

PACE Eligibility

Individuals can join PACE if they meet certain conditions:

  • Age 55 or older
  • Live in the service area of a PACE organization
  • Eligible for nursing home care
  • Be able to live safely in the community

The PACE program becomes the sole source of services for Medicare and Medicaid eligible enrollees. Individuals can leave the program at any time.

https://www.medicaid.gov/medicaid/ltss/pace/index.html