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SENIOR PRODUCTS Life Products Medicare Supplement Long Term Care Insurance Guaranteed Issue Life Insurance |
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Medicare Supplement What is Medicare? Medicare is the federal government program that gives you health care coverage if you are age 65 or older, or have a disability, and are a US citizen or have been a permanent legal resident for at least 5 continuous years, regardless of your income. Medicare is divided into a number of parts. Medicare Part A covers in-patient hosptial, skilled nursing facility, home health care and hospice care. Medicare Part B covers almost all resonable and necessary medical services including doctors' services, laboratory and x-ray services, durable medical equipment (wheelchairs, hospital beds, etc.), ambulance services, outpatient hopital care, home health care, blood and medical supplies. A Medicare supplement plicy can be purchased that pays for some thigs that Medicare Part A and Part B does not cover, like deductibles, doctor and hospital coinsurance and emergency care outside the country. Private insurance companies offer this supplemental coverage, often called "Medigap" insurance. Federal regulations mandate that all Medicaare supplemental policies offer the same set of benefits. That is why, when deciding what company to buy from, the most important factors to consider are cost and stability. Our agency will help to guide you through the process of choosing the plan that best fits your needs at the most affordable price and help you to obtain coverage from the established carrier. Drug Coverage Medicare Part D Long Term Care Insurance Long Term care is a variety of services provided when an individual is unable to take care of themselves with the assistance of others due primarily to an injury, chronic illness, advanced age or cognitive impairment. This loss of functional capacity requires that the individual receive personal care services because they are not able to perform activities normally associated with daily living. Activities of daily living include bathing, dressing, getting in and out of a bed or chair, eating, toileting and continence. In cases of cognitive impairment these maintenance activities may involve supervision of the individual. Covered individuals qualify for benefits by demonstrating the inability to perform two of the activities of daily living or by suffering from cognitive impairment. Long term care insurance does not pay medical bills - that's the purpose of health insurance or Medicare. Long term care insurance also does not replace income. Long term ccare insurance does cover services associated with daily activities of living to help you keep your independence and stay in control of your care. We frequently think about long term care services being focused on the elderly. It is important to remember that about 40% of individuals needing long term care services are of working age. About one third of stroke victims are under age 65. Guaranteed Issue Life Insurance If you have had problems qualifying for life insurance, we can help you with one of our guaranteed issue life insurance policies. When applying for guaranteed issue life insurance, no physical examination is required. Generally, being able to answer "no" to a few simple questions will qualify you for virtually guaranteed issue life insurance. Guaranteed issue life insurance provides a graded benefit. That is, the full death benefit amount of the policy will be paid to the beneficiary after a specified period of time from the issue date of the plicy. If death occurs prior to the end of that period of time (usually two or three years), the beneficiary receives a return of paid premiums plus interest. Once that period of time has passed, the full death benefit amount is paid to the beneficiary upon the death of the insured. |
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