How to Plan for Future Healthcare

Plan for Future Healthcare
Let’s be honest for a minute.  When your head is bent over the pile of monthly bills, with your calculator nearby at your elbow, the realty hits you… unless you ask for, and receive, a raise, one or more of those obligations must get pushed to the side.

When it comes to those “obligations” for which you must dole out your hard-earned pay, never scrimp on, eliminate or fall behind in any insurance premium!

You’ve read or heard the advice before, most likely from financial advisors, to always adequately insure your home or vehicle, and that advice goes for your healthcare as well.

When it comes to protecting yourself, and your loved ones, you need to plan ahead.  Plan for a future that may not be as rosy as you’d like it to be, or, at the very least, know that the years ahead may become tarnished, not golden, due to illness or other such circumstances beyond your control.

The time to put insurance policies for disability, long-term care and life insurance benefits into place is when you are younger, not when you are older or thinking of retirement.  By then it might be too late.
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How to Attract and Retain Workers

Attract and Retain Workers
Whether you’re a long-time employee, or seeking a new job, of course you want job satisfaction, but, even more importantly, you need to ensure you have good benefits or “bennies” as they are often referred to.  While health insurance, disability insurance, and life insurance packages provided to employees are fairly standard, employee benefits for financial perks are also attractive, no matter the age of the employee.

Traditional benefits

Employers who are savvy provide plenty of incentives to their employees to keep them aboard.  By offering a compensation package of the most sought-after benefits, they’ll lure the best workers.  Traditional benefits like adequate paid time off (“PTO”) and sick days are always appreciated and pretty standard as benefits go.  Likewise group health insurance is always a draw, especially with a lower deductible, less co-pay amounts and good prescription coverage.  Add the ability to have a flexible spending account (“FSA”) for your health insurance and employees will say “now you’re talkin’”. Continue reading “How to Attract and Retain Workers”

Types of Life Insurance

Types of Life Insurance
To be truthful, the majority of people don’t give much thought to life insurance policies.  Many employers provide life insurance benefits, and, be honest now… you give life insurance paperwork a cursory glance, wherein you might study your health insurance benefits a little closer.  For those who are not fortunate enough to have a life insurance policy through your employer, you probably push the thought of getting a policy in place to the back of your mind.  After all, who wants to deal with that morbid topic?  But procuring life insurance is not something you do so much for yourself, as for the loved ones you leave behind.  In fact, people are so lackadaisical regarding life insurance, often you are spurred to taking action only when someone you know relays their terrible tale of woe to you after their loved ones dies, and, then you vow that you won’t let that happen in your home. Continue reading “Types of Life Insurance”

Types of Long Term Care Insurance

Types of Long Term Care Insurance
Our world is crammed full of statistics, and, a good many of them are related to our short-term and long-term health.  The latest surveys show that Americans are living longer.  Well… hooray to that factoid, and to know that we have a longer life expectancy might just fulfill our every dream and allow us to check off every last bucket list item.

But, the other statistics don’t paint such a rosy picture.  Even if you don’t have any health-related genetic issues, and are relatively healthy, it is logical to assume that the older you are, the more likely that long-term care is in the cards for you. Even if you are blessed with good health now, a chronic condition such as high blood pressure or diabetes, or even a history of lackluster diet and exercise habits, could severely debilitate you in later years, thus necessitating long-term care.

Did you know?

  • 70% of people who reach the age of 65 can expect to need some form of long-term care during their lifetime?
  • Women outlive men by about five years on average, so they are likely to be living solo in the home once their spouse has passed away?
  • Disability from an accident or chronic illness accounts for many needing long-term care? Between the ages of 40-50, 8% of people have a disability which might require long-term care services and after age 90, the percentage jumps to a whopping 69%.

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Types of Disability Insurance

Types of Disability Insurance
If you work for a large or medium-sized company, you’ve probably never given much thought to disability insurance or life insurance.  Those are just a couple of benefits, (or “bennies” as that term is often used), that a company generally provides to its employees.  The larger the company, the cheaper the premiums are to the company, and they are able to provide some peace of mind to their workforce.  In fact, it is probably something that most employees just take for granted.

If you are launching your own company, or leaving a company where disability benefits have always been provided, you should ensure that you have a disability insurance plan in place as quickly as possible.
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