Michigan Insurance News & Tips

Michigan High Deductible Plan F Medicare Supplement Plan

2012-02-27T19:41:00.002-05:00

Within the Medicare market, I am shocked to see how many Seniors do not know about the Medicare Supplement Plan F high deductible.

Across the market, Plan F and Plan G are the most popular, and obviously with a higher price tag. Those two plans have low out of pocket costs for Seniors, and give great comfort to the buyer in them knowing that complete coverage is in the place.

Over the last few years however, we have seen a lot of consumers ask about the Michigan high deductible plan F. In a sense being Plan F (remember plan F is complete coverage from day 1), with a deductible of $2070.00 before the plan kicks in. One would admit that it is a high deductible, but take in consideration the price. An "aging in" Senior turning 65 can find a high deductible plan F for around $45.00 a month. Regular Michigan Plan F Medicare supplement plans for an "aging in" can be found for right around $140.00 a month.

Again, the High F plan is booming. Seniors are finding that their Medicare advantage plans have out of pocket costs of over $3500 and so. They are asking about the plan. Other seniors are just asking.

Contact us today to learn more.

Michigan Charitable Giving With Life Insurance

2012-02-27T19:27:00.001-05:00

As you can imagine, this is very popular within the state of Michigan. First off, consult with a CPA if or before you ever consider this.

A consumer picks a permanent life insurance plan, and in a nutshell will pay the premiums for it. However the church is the owner and beneficiary. You pay the premiums and if everything falls into place, you will be eligible for tax write off for the premiums that again you pay. To be more precise your premiums might be considered a "gift".

Different types of Michigan life insurance plans are popular when it comes to this. Single Premium whole life plans (one lump sum payment), 10 pay whole life plans (pay for ten years and policy is paid off), and lifetime pay whole life plans.

Learn more by contacting us today.

Child (Children) Life Insurance In Michigan

2012-02-16T21:56:00.000-05:00

Truthfully, not many things in the insurance industry gets me excited these days. However, when Mutual of Omaha introduced a new Whole Life Policy for children that excited me. So I thought I would send out an email and tell you about the key features of this plan. I know that most people don't want to think about the possibility of needing a Life Insurance Policy for their child but the nice thing about it is that this policy will last them a lifetime and you are locking in the rates for them based on their current age.

I have always told my clients that I don't represent any products that I wouldn't put my family in. Well I am here to tell you that I liked the Mutual of Omaha children's life insurance policy. The program features include:

-Simple application with very limited health questions and no exam required.

-After transferring the policy when they are of age they may purchase additional insurance without evidence of insurability at their 30th, 33rd, 36th and 39th birthdays.

-The cash value builds over time for them.

-The rates will never, ever increase.

-The benefit will never, ever decrease.

Rate Examples based on a $25,000 benefit (Many other levels available)

4 Yr old Male……...$7.75/m

9 Yr old Female…...$11.50/m

14 Yr old Male.…....$15.25/m

19 Yr old Female….$15.25/m

Now I know what most of you are thinking that the chances of you needing this for your child is very slim and "YES" I agree with you because that is how I thought. But don't do it for now, do it in case of for later. It is very affordable, even makes a great option for the Grandparents to purchase for their grandkids as well.

Learn more today by contacting us or requesting a quote for your child's Michigan life insurance needs.

Be Vigilant As You Buy Your Michigan Life Insurance Policy

2012-01-08T23:45:00.001-05:00

Although it makes sense to get in touch with a life insurance company to cover your dependents in the eventuality of your untimely death, there are integrity issues surrounding the insurance companies and agents. We at Michiganhealthbroker, INC has broadly described 3 ways your life insurance company is scamming you. We have enlisted them for your benefit.

Selling you coverage you will not need!

The insurance companies thrive on the fact that most people don’t understand their life insurance needs. With standard products, they try to sell you coverage that you might not need, but, which are lucrative for them. The insurance agents expedite the process so that you skip the fine print and sign up for a coverage that is ill-suited to your needs. Obviously the trick is to play on your fear factor and sell you heavy insurance, even if you don’t have dependents.

Coaxing you to pay ‘Cash’

We strongly suggest, do not pay your premium through cash to an agent. Further, do ensure that you get a receipt for the payment. There are numerous fraudulent entities posing as genuine insurance agencies that extract hard cash from you in lieu of insurance premium. They ask you to sign at blank spaces in a form, assuring you that it is just a formality. Once you have fallen for their trick, you are left without an insurance coverage. The worst part is that most victims only come to know of this scam, when they have met with some mishap and there is not insurance to cover them.

Luring you with benefits!

Insurance agencies and agents have a way of promising you unbelievable benefits out a life insurance policy. Life insurance agents might offer you plans, with a guarantee that the policy would run premium-free for a specific period. Some agents play it smart and offer you great discounts for signing you up for a new policy, while replacing an old policy. The trick is that the old coverage gets terminated and new coverage does not get initiated due to the cumbersome procedural bottlenecks. Thus, exposing you to risk without cover. Keep in mind that if you replace your current life insurance coverage with a new plan, the two year death contestablity period restarts.

We at Michiganhealthbroker, INC have been selling Michigan life insurance policies for over the last six years. Visit today for your Michigan life insurance quote.

Annuity information for Michigan consumers

2011-11-12T21:43:00.001-05:00

In a recent article I read, author Paul Cross discussed reason why people are taking their money, and moving them into annuities.

To review, let us discuss the top ten reasons why according to Mr. Cross.

Protect their money and make it available to their heirs quickly.
To avoid probate court.
Guaranteed rate of return.
Tax favored stream of income.
Tax deferred growth.
Reduce or eliminate income tax on Social Security income
Stop paying tax on interest accumulation.
More growth on their money.
Safety!!..
View the article to read more!!

Obviously, annuities are not for everyone. However, some consumers are truly suffering with their bank cd's and money market accounts. Michigan annuity rates are currently very competitive, and again by viewing the perks of a fixed annuity above, might be very beneficial to you.

Michigan Long Term Care Insurance News

2011-08-15T13:00:00.001-04:00

With Michigan consumers living in an unstable economy for many of years, the hopes and dreams of retirement always looks bleak and sometimes impossible.

One of the mainstays in the golden years is to make sure your health is completely taken care of. Michigan long term care insurance is one of, or the most important policies you can own. Stats are amazing in this industry when it comes to consumers who have to go into a retirement home. Retirement homes can (depending on the state involved) cost on the upwards of $55,000 and higher for a calender year.

The American Stroke Association recently came out with some good facts that go well together with a long term insurance policy in Michigan. One third of stroke victims become disabled are under the age of 65. In that same presentation, the association makes it clear one out of five Americans need care in a retirement home for at least a year. After that, three percent require care for more than five years.

When the discussion of long term care insurance comes up, Michigan consumers usually cringe. I mean let us be honest, the cost is above average. To top that and what usually needs to be put out there, the cost grows ten fold as the person gets older. So as an insurance broker for the state of Michigan, when do I start to present long term care insurance for the average consumer? I usually bring the topic up for consumers in their mid 40’s. This to me is then when a Michigan long term care policy is still affordable, and usually the topic is starting to arise.

The long term care policy itself can be constructed to fit anyone’s needs with regards to price. You can pick the length of coverage, deductibles, etc. This helps as obvious consumers want affordability, and by working on the policy itself, this usually can occur.

We currently work with over five different life insurance companies that offer LTC policies. This helps us find affordable products for our Michigan consumers. Visit us today to learn more.

Free to Low Cost Medicare Supplies in Michigan

2011-06-05T14:00:00.000-04:00

When you talk to Seniors within the state of Michigan, you realize that some are in the need for additional help. Recently I came across a program that gives a Senior free or low cost options for popular Medicares supplies.

This program includes,

Diabetic supplies (strips, tester, etc)
Arthritis supplies
Mobility (Scooter)
Urological supplies
COPD supplies

To qualify is very simple. At the time a Senior must be on Medicare Part A & B, show need for the certain product, and show interest.

While I am only licensed in Michigan, this program is nationally based. We can help anyone in any state.

Contact us to learn more.

Refer Kids to the MIChild health insurance program and make a little $$

2011-06-01T11:40:00.000-04:00

Child only Michigan health insurance plans basically disappeared after the health care reform act passed. Well, if you know of any kids with parents who are low income, refer them to the MIChild program make a little extra money.

Maternity Coverage with your Michigan Health Insurance plan

2011-06-01T11:20:00.000-04:00

Looking for maternity coverage with your Michigan health insurance plan? If you are, you have probably been looking for quite sometime.

Over the past 12-18 months, many of the major insurers within the state have dropped maternity coverage from their available benefits. However, all is not lost. We do offer a health plan with 100% maternity coverage (after your deductible obviously).

A little bit about this plan. It is underwritten, and it is a HMO. Being a health maintenance organization, you must use their primary doctors and if the need for maternity arises, their OB/GYN's. Little bit different as most of our Michigan health insurance plans use the ever popular Cofinity network within the state.

Contact us to learn more.

Michigan Small Business Group Health Insurance Worries Business Owners

2011-05-27T00:53:00.001-04:00

A really good press release from the Michigan Business and Professional Association came out today with regards to how Michigan small business owners anxiously are awaiting how health care reform turns out.

I believe the PR expresses the core believes on the major concerns. Those concerns basically revolve around cost. One of the major clauses in the HCR act was to have employees covered by small business owners at all costs. If not, the owner of the business would face a fine (tax).

The major point in the press release that catches my eye is the "Among the 24 percent who admitted they had considered cancelling their group health care insurance in the past year, 67 percent stated that it is due to dramatically increased health care premiums." That to me is a staggering amount of clients who dropped their group plans. That also proves to me that business owners are going to have one heck of a problem once the reform law kicks in and affordable Michigan group health insurance plans are hard to come by.

One thing is for certain though, as Obamacare is far from set in stone. I am sure as 2014 approaches, more legislation is going to be taken in or out of the plan.

Diabetics (diabetes) and Michigan life insurance options

2011-05-19T21:30:00.000-04:00

Always amazes me when I talk to consumers within the state who have diabetes and what they currently are doing for their Michigan life insurance needs. Having diabetes is not the end of the world.

With work, we can help diabetics get into immediate death benefit plans. What do I mean by that? Most diabetics who have bought life insurance have purchased guaranteed issue plans (no health questions asked). These products are expensive, and are graded so if you pass within the first two years (except for an accident) you only get a portion of the death benefit.

We have term life insurance and permanent plans for diabetics based on health questions. These products have immediate death benefits, and again are available based only a complete health questionnaire.

For your life insurance in Michigan needs, we are here to help.

http://www.michiganhealthbroker.com

Michigan Medicare Supplement Plan N Is Still Available!

2011-04-24T22:18:00.000-04:00

Word going around the state right now is some of the major Medicare supplement companies are taken away plan N. While true in some aspects, be advised that Plan N as of 4/24/11 is still available in the state of Michigan.

When Plan N was introduced last year, seniors within the state flocked to the plan. The most affordable Michigan Medicare supplement plan, with comparable benefits. Well, some hardships occurred I guess you could say. For some time, Plan N was a "no question asked" policy. If you could afford the plan, well then you were in. As you can imagine a lot of seniors with pre-existing conditions took the plan. In a nutshell, a lot of Medicare supplement companies were losing money quick. Some of the companies have even left the Plan N market.

This quick post is to let you know that Plan N Michigan Medicare supplement plans are still available. They are underwritten now, but again still available.

Welcome To My Blog

2011-01-01T22:31:00.000-05:00

Due to some misfortunes on Wordpress, I will be updating this blog with updated Michigan health insurance, Michigan life insurance, and Michigan Medicare supplement news. Come back to read more.