Author Archives: Kristina Tahnyak

Good morning Dinks.  Let me ask you a very important questions, do you have private health and dental insurance?  Basically I want to know, when you go to the doctor or the dentist who pays the bill?  I am lucky enough to have health and dental insurance through my employer and although the financial perks are beneficial, it’s not all a bouquet of roses because dealing with insurance companies can be very frustrating.

I recently went to the dentist for my annual checkup and I noticed that the total invoice was over $270 for a 30 minute appointment.  I couldn’t imagine having to pay that expense out of my pocket.  My insurance covers 80% of certain dental expenses so instead of paying $270 I only ended up paying $54 of my own money.

4 tips to help you find the best health and dental insurance:

Find the best rates for your insurance needs.  If you are searching for health and dental insurance websites such as LowestRates.com can be a great source for all your insurance needs.  For example, if you are deciding whether to buy dental insurance or join a dental plan LowestRates.com can help find the best option for you and your family.  Once you decide what type of insurance you want to purchase you need to pick your coverage and coordinate with your spouse. If your spouse also has health and dental insurance options with their employer you will have to decide whose coverage provides the best options.

Learn all about your coverage. More important than the fine print are the details about your coverage.  I personally need more health insurance than I do dental insurance because I only visit my dentist once a year (knock on wood) and I have several monthly medical treatments.  I visit a chiropractor once a week and I take two different monthly prescriptions so I need to find the best health insurance coverage at the lowest possible cost.

Check the fine print. It seems as though insurance companies have more fine print than investment advisors.  I personally don’t like reading fine print but I learned my lesson the hard way.  I went to my dentist for teeth whitening and after paying for the procedure and submitting my claim my insurance company advised me that only a certain amount of cosmetic procedures are covered.  Other fine print details when it comes to health and dental insurance include a mandatory waiting period as well as a pre existing condition clause.

Be patient. Dealing with insurance companies is less than a pleasant experience; it can be long and extremely frustrating.  I had my annual blood work done in July and it took until September for me to get paid by the insurance company.  My insurance company accepts online claims and they kept declining my $370 expense because the photo was too dark or it wasn’t clear enough or there was a glitch with their website and my claim fell through the cracks. I did finally get my refund, but two months is a long time to be out that amount of money.

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Good morning Dinks.  This is a contribution from Gary at MyLifeInsuranceQuotes123.com. Enjoy.

Comparison shopping and research are known to help consumers find the best value of any product or service. Even though term life insurance is affordable for most families, there are steps that consumers should take to ensure they buy the best coverage with the lowest rates. Since life insurance is usually a long-term commitment, the savings over the life of a policy can be huge with just a little bit of time and energy.

Review The Insurance Company’s Reputation

It is important that a life insurance company is financially stable and able to honor claims made against their policies. If a company becomes insolvent, their policyholders may lose their coverage and be forced to purchase a new policy at an older age. Although the U.S. government would likely prevent an enormous insurance company from collapsing, don’t put yourself in a position of uncertainty.

You can check out A.M. Best and JD Powers to find the best insurance companies, or check out this compiled list of the top life insurance companies.

Look At The Policy Provisions and Conditions

Each type of life insurance policy may not have the same provisions or conditions as other term policies. Consumers should review policy options and terms and conditions from each insurance company. Always be sure to fully understand the coverage you are buying and do not hesitate to ask the agent, broker, or carrier to explain different parts of your contract.

For example, some policies may not pay out for deaths in plane crashes or during hazardous activities; meanwhile, when buying whole life insurance, each provider guarantees a different rate of return. Before purchasing any insurance, customers should know what their policy’s limitations are.

Bait and Switch

Cheap quotes are often used to lure consumers and applicants to an agency that sells life insurance. When individuals ask about the policy, the agent will try to sell them a more expensive term life or whole life policy. The agent will sometimes tell the customer that the advertised policy offered very limited financial protection since it contained more exclusions than standard contracts. This may be true, so customers should ask for a copy of the policy to review, but by no means should you ever immediately purchase coverage from the cheapest company. Like any other product or service, you should always be looking for the best financial value.

Different Low Cost Options

A lower death benefit may make term life coverage more affordable for some people. While not having enough protection is not ideal, it is better than having no life insurance at all. An adjustable life insurance policy gives insured individuals the ability to increase or decrease the death benefit and premiums based on their current financial needs. However, before you adjust any policy, it is critical that you re-evaluate your life insurance needs.

Consider The Death Benefits of Other Life Policies

It is not unusual for employers to offer group life insurance as part of an employee benefit package. It is best to have additional private coverage since the loss of the job means the loss of your policy and potentially higher premium costs for those who do not already have another private policy.

When choosing a death benefit for a private life insurance policy, keep in mind the amount of the death benefit provided by the employee policy and deduct that amount from the total protection necessary to honor financial obligations. There is no need to over-insure your family, but always err on the side of being conservative.

Getting Discounts with Annual Premiums

Since it costs the life insurance company more to process monthly premium payments and annual payments reduce the likelihood of defaults, carriers may offer slight discounts to individuals who prepay insurance premiums quarterly or annually. Compare annual life insurance quotes from different agencies and companies to find discounts. Although monthly premiums may be more convenient, the amount saved by prepaying can really add up over the long-term.

If you’ve purchased life insurance before, what tips or advice would you offer future consumers?

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