Life insurance, Disability and Medical plans are available for Texans. That does not mean they have to be expensive. The Britton and Britton insurance agency knows where to look to obtain insurance coverage that will not break the bank. Gain peace of mind and protect your family today.
Life insurance is a policy between the policy holder and an the insurance company where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the type of policy, terminal illness or critical illness can also trigger payment or financial assistance in some cases.
Why is life insurance important? Life insurance protects your family, children, spouse or partner from financial losses that could result if something happened to you. It provides financial stability and helps to pay off debts, helps to pay living expenses, college tuition, medical or final expenses.
As with all life insurance policies, you pay premiums on your policy every year. But with term life insurance, there’s one important difference: you pay premiums only for the length of the term. It offers the greatest initial coverage limits for the lowest initial price. It is a great solution for people on a limited budget, with temporary needs such as a mortgage, or in the building phase of their overall financial planning. Term life insurance provides protection for a specific period of time, and generally pays a benefit if you die during this term. When the term ends, your premiums end, and so does your coverage. That means, only if you were to die before the end of the term, your beneficiaries could receive the death benefit. Because term life insurance provides coverage for only a set period of time, it is easy to understand and is often the most affordable option, making it one of the most popular types of life insurance.
Guarantees payment of a death benefit to beneficiaries in exchange for regularly due premium payments. This type of policy has a “cash value,” alongside the death benefit. Interest may accumulate on a tax-deferred basis. The “cash value” of your policy asset as borrow, withdraw, surrender, or sell.
Does your health plan meet all your needs? If you have had health insurance in the past, then, you will be familiar with how a dental and vision insurance plan works. You pay a premium, a certain amount monthly, to buy the plan. Your deductible is what you must pay out-of-pocket for services covered by your plan before the insurance company pays.
Coinsurance refers to the percentage you pay of covered expenses after you meet your deductible. Your plan may include copays, a fixed cost you pay for a certain service, like an x-ray or specialty eye test.
Paycheck Protection When You Need it Most. If you have a temporary illness or injury that could keep you out of work, short-term disability insurance can cover your paycheck for several months. Choose an elimination period to decide when your benefits are paid out after becoming disabled. Typically, can cover employees between the ages of 18 and 65 who are actively working at least 30 hours a week.
You may be familiar with public insurance needs-based programs such as Medicare and Medicaid. These programs can include some strict requirements, but offer some inpatient care, hospice care, and short-term stays at skilled nursing facilities under specific conditions. However, you are responsible for a portion of the costs and usually by day 100 all expenses fall on you. Long-Term Care insurance (LTC) helps cover the cost of services for individuals with chronic illnesses or disabilities, providing support with daily activities, home health care, adult day care, nursing home care, and assisted living. Notably, 37% of LTC insurance recipients are under the age of 65, and an estimated 70% of people will require some form of long-term care during their lifetime as individuals express a preference to receive care in their home. In-home health aides had a median annual cost of $54,912 in Texas in 2024. With the rapid growing population, longer life expectancy, and 10,000 Baby Boomers turning 65 every day until 2030, the need for LTC insurance has become increasingly important.
Short term medical insurance is a great way for folks to fill gaps in insurance coverage without surrendering routine healthcare services. Use the drop down menu to the right to begin your quote now. In some cases, you can get coverage as soon as tomorrow.
Umbrella insurance is designed to add extra protection to insurance policies you may already have. An umbrella policy provides “excess liability” above the limits of your underlying home, auto, or boat policies. It can help protect you from bodily injury liability claims and property damage liability claims. A personal umbrella policy (PUP) can cover a wide range of concerns, such as damage arising out of a covered occurrence for bodily injury, medical costs, loss of income and funeral expenses of other people involved in an accident. It is a smart way to achieve peace of mind, and usually for less than a dollar a day.
Insurance for healthcare is split into 2 categories according to the size of your household.
These are health insurance plans that cover only a single person. Individual health insurance plans are subsidized by tax incentives that allow those who must buy their health insurance privately to afford healthcare.
Most health insurance plans have a yearly maximum that you must pay out of pocket for healthcare. Included in the yearly maximum are your:
Once you have reached your yearly maximum of payments, your insurance covers any additional medical care that falls under your health insurance policy.
Healthy individuals can save on health insurance by opting for a larger deductible, allowing their monthly premium to be reduced. Individuals who need more thorough care can choose to pay higher premiums with a lower deductible.
Did you miss the chance to enroll in a health plan prior to January 31st of this year? Short Term Medical can tide you over until the next chance to enroll in health insurance
Short Term Medical℠ can tide you over until their next chance to enroll in health insurance or when between jobs. With affordable pricing and policy terms ranging from 30days to 360 days, Short Term Medical℠ is just the product to cover gaps in your schedule.
These are health insurance plans that cover individual members of a household or the family. Family plans place family members of a household under one insurance policy.
Some family plans can be subsidized by tax incentives, but use combined household income to determine eligibility.
A health savings account or HSA is a savings account for U.S. citizens enrolled in a High Deductible Health Plan that benefits from tax incentives. Money placed into an HSA becomes income that is not taxable by the U.S. government. Health savings accounts are owned by the account holder instead of a private insurance company. Funds deposited in an HSA are eligible to be withdrawn to pay for qualified medical expenses.
An HSA gives you more power over the medical care that is covered by your money. They help you save for future medical care and allow you to pay up front for medical costs without worrying about falling into debt.
Your health insurance options are numerous, but the experts at Britton & Britton are here to help. Give us a call and we’ll pair you with an agent that can help you find the plan that fits your medical needs and your bank account.
