Critical illness insurance

Posted on May 8, 2018
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Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a

Do you need flood insurance?

Posted on April 30, 2018
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Many Americans don’t need to wonder if they need flood insurance — it’s required as a condition of their home loan. But unlike car insurance, flood insurance isn’t required simply because you own property. In these cases, flood insurance raises the same question as other insurance policies do: When does the premium outweigh the actual risk? Even a $650 annual premium, the amount the National Flood Insurance Program (NFIP) cites as average, seems like a lot if you

How much home insurance do you need?

Posted on April 24, 2018
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Here is a simple way to calculate the replacement cost of your home: Recommended Coverage Amount = (square footage of your home) x (cost of construction) where cost of construction depends on how many upgrades you’ve made on your home $86/sq ft for a home with minimal upgrades $112/sq ft for a home with some upgrades $146/sq ft for a home with substantial upgrades Here’s an example: Bill owns a 2,800 square foot home. He

Should I Choose Term Life or Whole Life Insurance?

Posted on April 19, 2018
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BY MIRIAM CALDWELL Once you know you need life insurance, it is important to buy the right type of life insurance. You have two basic options to choose from term life insurance or whole life insurance. These options have several different features and they serve different purposes. It is important to fully understand each type of insurance before you make your decision. What Is Term Life Insurance? Term life insurance is purchased for a specific

CMS gives Medicare Advantage plans a raise

Posted on April 16, 2018
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By Virgil Dickson | April 2, 2018 The CMS finalized a rule Monday giving Medicare Advantage plans a 3.4% pay hike in 2019. That’s well above the 1.84% bump the agency initially proposed and higher that the 2.95% increase for 2018. The CMS is also moving forward with plans to increase the use of encounter data to determine risk scores for plans. As a result of the finalized rule, 75% of Medicare Advantage risk scores