Can You Get a Health Insurance Exemption?

If you don’t want to pay a penalty tax, you’ll either have to have health insurance after December 31, 2013, or you’ll have to get a health insurance exemption.

One of the provisions of the Affordable Care Act, the individual mandate, penalizes people who go without health insurance by making them pay a penalty tax called a shared responsibility payment. There are only three ways around this penalty:

• Have health insurance coverage that meets coverage rules.
• Get an exemption.
• Belong to a group the government views as having health insurance coverage, whether or not you actually do have coverage.

 

Who Is Exempt From the Individual Mandate’s Penalty?

You’re likely exempt from the individual mandate health insurance penalty if you:

• Aren’t in the United States legally.


• Are in jail or prison, unless you're incarcerated pending disposition of charges.


• Are an Alaskan Native or a member of an Indian Tribe.


• Have a small enough income that you’re not required to file income taxes
  How much income can you have before you’re required to file income taxes? For 2012, individuals could earn $9750 before they had to file, and couples could earn $19,500. But, it changes every year. If you’d like to know the filing threshold for any particular year, it’s found in IRS publication 501 for that year, which you can get from the IRS Forms & Publicationswebpage.


• Have a religious conscience objection to insurance
  To qualify for this exemption:
  1. You must be a member of a recognized religious sect.
  2. You have to waive all of your Social Security benefits.
  3. The Commissioner of Social Security must agree that your religion opposes insurance for things like death, disability, and medical care.
  4. The Commissioner must find that members of your religion have made arrangements to provide for their dependent members since they aren’t using insurance as a safety-net.
  5. The sect must have been in existence continuously since December 31, 1950.
  David Emery, the About.com Guide to urban legends, addresses this area in more detail in“Are Muslims Exempt from ObamaCare Health Insurance Mandate?”


• Are a member of a health care sharing ministry
  Health care sharing ministries are religion-based groups of people who assist each other with paying medical bills. You can learn more about health care sharing ministries from The Alliance of Health Care Sharing Ministries. Your membership won’t make you exempt from the individual mandate unless your sharing ministry has been in existence since 12/31/1999. Additionally, the ministry's yearly accounting audits must be available to the public.


• Can’t afford coverage
  To be considered unaffordable, your contributions toward job-based coverage must be more than eight percent of your household income. For health insurance from your state’s health insurance exchange to be considered unaffordable, your contribution toward the annual premium of the lowest cost bronze plan available in the individual market must be more than eight percent of your household income.


• Have gone less than 3 consecutive months without coverage
  You’re only allowed to use this exemption once per year, and only the first occasion each year is exempted. For example, if you’re uninsured for two months in February and March, then again for three months in August, September, and October, you’ll only be exempt for the February and March period. You’ll owe the shared responsibility payment penalty for the August, September, and October period.


• Have a hardship that legitimately prevents you from getting health insurance
  Your health insurance exchange must decide that you have a hardship affecting your ability to get health insurance. Exchanges use rules and guidelines to make this decision. You can learn more in, "How To Get a Hardship Exemption."

How Do I Get a Health Insurance Exemption?

Your state health insurance exchange is responsible for exemptions based on hardship and religious conscience objection. Apply with the exchange; it will make the eligibility decision and issue the exemption if you qualify.

You can claim exemptions based on the following when you file your federal tax return:

• coverage costing more than eight percent of your income
• membership in a healthcare sharing ministry
• membership in an Indian Tribe
• being incarcerated

If you prefer not to wait until you file your taxes, the exchange can also address the above exemptions. You might choose this option if you have questions or if you're not sure if your situation matches the criteria exactly.

Exemptions due to being uninsured for less than three months will be taken care of when you file your income taxes.

If your exemption is due to having a small enough income that you don't have to file federal income taxes, you don't actually have to apply for the exemption; it's automatic. If you file taxes even though you don't have to, for example because you want to get a refund, you won't have to pay the penalty tax.

I Don’t Qualify for a Health Insurance Exemption; How Can I Avoid the Penalty?

The government treats some people as though they have minimal essential health insurance coverage, even if they don’t. While not exactly the same as being exempt, the effect is similar in that those people don’t have to pay the health insurance penalty tax, even if they don’t have health insurance. You’ll be treated as though you have health insurance coverage if:

• For at least 330 days of the year, you live outside of the United States and maintain a tax home outside of the United States
• You are a resident of Guam, American Samoa, Northern Mariana Islands, Puerto Rico, or the US Virgin Islands, and you don’t have a closer connection to the United States or a foreign country than you do to the US possession where you’re claiming residency.

If none of those things applies to you, but you don’t want to owe the penalty tax, your best bet for avoiding it is to get health insurance coverage.

If you’re unemployed or can’t get health insurance through your employer, your next best option is to try your state’s health insurance exchange. All of the health insurance plans sold through the exchange will meet the rules for minimum coverage. The exchange will also check to see if you’re eligible for any subsidies or tax credits to help you afford coverage, and apply those credits before you have to pay for the insurance.

Before you shop for health insurance at your state’s health insurance exchange, learn how to pick the health insurance plan that’s the best fit for your healthcare needs and your budget in, “Before You Buy Health Insurance—What You Need to Know When You’re Shopping for Health Insurance.”

If you don’t qualify for a health insurance exemption, you’re not living abroad or in a U.S. possession, and you’re not going to get health insurance before January 1, 2014, then you’re probably going to have to pay the shared responsibility penalty. “How Much Is the Health Insurance Penalty for an Individual?” and "How Much Is the Health Insurance Penalty for Families?" will help you figure out how much you’ll owe.

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Should I Buy Life Insurance On My Children?

When is the best time to buy life insurance? - One of the more frequent questions surrounding life insurance is ‘When is the best time to buy?’ As a fee-only financial advisor, I no longer sell life insurance but was previously licensed to sell life insurance in all fifty states.  I am also a Chartered Life Underwriter (CLU) which is the highest-level designation available in the life insurance industry.

My experience with clients and prospective clients has been that people usually wait to purchase life insurance until they feel they need it. This ‘need’ usually involves a life event such as getting married, having children, or losing a job.  While this approach is beneficial in that you are not paying for coverage before you feel that you need it, the big drawback is that when you do decide to get coverage it is typically more expensive than when you were younger and you run a higher risk that you could be placed in a substandard rate class or denied all together. 

A past client’s story is illustrative here.  I worked with a dentist who was diagnosed as a Type I diabetic in his late twenties.  The good news is that he bought a little bit of coverage in dental school - the bad news is that it wasn’t enough to cover a growing income, a wife who didn’t work outside the home, and three young children.  While he was still insurable, the dentist had to pay substantially more in premiums than he would have, but for the diabetes.

Rather than the ‘wait until you need it’ approach, my contention is that you should buy a policy as soon as practicable.  For most people, this means when you get your first full time job after completing your education.  While insurance companies will typically write policies on children or college students, underwriting often imposes restrictions on both the type of policy that can be purchased as well as the size of the policy.

As you shop for life insurance, here are a few things to keep in mind:

1. Buy more coverage than you feel you need, especially if you see things like buying a home and starting a family in the future.  Term insurance is very inexpensive for someone purchasing in their twenties.  You do have to jump through some hoops such as having a blood draw, giving a urine sample, and providing your medical history. If you’re going to go through these steps, you might as well buy a large enough policy to last you for a while, rather than one you’ll have to replace in a couple years (and go through the underwriting process all over again).
2. If you’re healthy and a non-smoker, it might be cheaper to buy a stand- alone policy than to take it as an employee benefit.  It is common to take life insurance from your employer as an employee benefit because it is as easy as checking a box during open enrollment. Also remember with employer policies, is that they usually go up in price every five years.  What’s cheap now becomes more expensive, especially when you enter your 40’s and 50’s.  The final thing to keep in mind on this point is that a policy that you buy on your own will stay with you, regardless if you change employers or become self-employed.
3. While each life insurer prices and underwrites their policies a little differently, in general terms the cost of waiting is a slight increase in prices up until age 35. At the 35 the premium increases become noticeable, and at 45 those increases will be even greater.  As such, the cost of waiting until your mid 30’s to buy life insurance is not so much based on age, but on a greater chance that the rate classification you’ll be eligible for won’t be as good as one you would have qualified for at a younger age. This can be due to things such as weight gain, higher cholesterol levels, having a medical condition, or having a parent or sibling be diagnosed with a serious medical condition.
4. Make sure that any Term policy you choose has good convertibility options. Most term insurance now is what’s referred to as ‘level’ term coverage – meaning that the monthly premium will stay the same for however long a term is chosen when the policy is initially purchased. At the end of that level term, you can either:
   1. Drop the policy altogether if you no longer need coverage
   2. Pay the astronomical renewal premiums for a term policy
   3. Apply for a new term policy, based on your age and your health at that time
   4. Convert your policy to a permanent, cash value policy.  The benefit of converting to a cash value policy is that it locks in the rate class you were at when you originally purchased the policy, even if your health has deteriorated.
5. A good resource to check out term life insurance pricing is www.Term4sale.com.  I’ll post another time on places to buy life insurance from.

While this posting primarily discusses term insurance, I’m planning on including future postings to include a discussion of when to opt for permanent insurance instead of term.

source

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When is the best time to buy life insurance? Probably not when you think….

When is the best time to buy life insurance? - One of the more frequent questions surrounding life insurance is ‘When is the best time to buy?’ As a fee-only financial advisor, I no longer sell life insurance but was previously licensed to sell life insurance in all fifty states.  I am also a Chartered Life Underwriter (CLU) which is the highest-level designation available in the life insurance industry.

My experience with clients and prospective clients has been that people usually wait to purchase life insurance until they feel they need it. This ‘need’ usually involves a life event such as getting married, having children, or losing a job.  While this approach is beneficial in that you are not paying for coverage before you feel that you need it, the big drawback is that when you do decide to get coverage it is typically more expensive than when you were younger and you run a higher risk that you could be placed in a substandard rate class or denied all together. 

A past client’s story is illustrative here.  I worked with a dentist who was diagnosed as a Type I diabetic in his late twenties.  The good news is that he bought a little bit of coverage in dental school - the bad news is that it wasn’t enough to cover a growing income, a wife who didn’t work outside the home, and three young children.  While he was still insurable, the dentist had to pay substantially more in premiums than he would have, but for the diabetes.

Rather than the ‘wait until you need it’ approach, my contention is that you should buy a policy as soon as practicable.  For most people, this means when you get your first full time job after completing your education.  While insurance companies will typically write policies on children or college students, underwriting often imposes restrictions on both the type of policy that can be purchased as well as the size of the policy.

As you shop for life insurance, here are a few things to keep in mind:

1. Buy more coverage than you feel you need, especially if you see things like buying a home and starting a family in the future.  Term insurance is very inexpensive for someone purchasing in their twenties.  You do have to jump through some hoops such as having a blood draw, giving a urine sample, and providing your medical history. If you’re going to go through these steps, you might as well buy a large enough policy to last you for a while, rather than one you’ll have to replace in a couple years (and go through the underwriting process all over again).
2. If you’re healthy and a non-smoker, it might be cheaper to buy a stand- alone policy than to take it as an employee benefit.  It is common to take life insurance from your employer as an employee benefit because it is as easy as checking a box during open enrollment. Also remember with employer policies, is that they usually go up in price every five years.  What’s cheap now becomes more expensive, especially when you enter your 40’s and 50’s.  The final thing to keep in mind on this point is that a policy that you buy on your own will stay with you, regardless if you change employers or become self-employed.
3. While each life insurer prices and underwrites their policies a little differently, in general terms the cost of waiting is a slight increase in prices up until age 35. At the 35 the premium increases become noticeable, and at 45 those increases will be even greater.  As such, the cost of waiting until your mid 30’s to buy life insurance is not so much based on age, but on a greater chance that the rate classification you’ll be eligible for won’t be as good as one you would have qualified for at a younger age. This can be due to things such as weight gain, higher cholesterol levels, having a medical condition, or having a parent or sibling be diagnosed with a serious medical condition.
4. Make sure that any Term policy you choose has good convertibility options. Most term insurance now is what’s referred to as ‘level’ term coverage – meaning that the monthly premium will stay the same for however long a term is chosen when the policy is initially purchased. At the end of that level term, you can either:
   1. Drop the policy altogether if you no longer need coverage
   2. Pay the astronomical renewal premiums for a term policy
   3. Apply for a new term policy, based on your age and your health at that time
   4. Convert your policy to a permanent, cash value policy.  The benefit of converting to a cash value policy is that it locks in the rate class you were at when you originally purchased the policy, even if your health has deteriorated.
5. A good resource to check out term life insurance pricing is www.Term4sale.com.  I’ll post another time on places to buy life insurance from.

While this posting primarily discusses term insurance, I’m planning on including future postings to include a discussion of when to opt for permanent insurance instead of term.

source

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5 Ideas to Keep Wishlist Guarantee Insurance

How long can a list of things you want to see , do , experience or feel for a long time ? For some people , have a bucket list or a wish list was considered too dark ; , but have a goal in writing can give you the boost you need to live a full life .

If your wish list five things listed below , you may need to take the time to consider the purchase of life insurance before running to make it happen .

1 . Swimming with stingrays

Swimming with stingrays create the illusion that life is not disturbed , but since the death of Steve Irwin , the illusion gets a bad reputation . Crocodile hunter stabbed 44-year -old spinal poisonous stingray and serrated at the heart of which led to death at the scene .

Six weeks after the accident Irwin , a stingray jumped into fishing boats in Florida and stabbed James Bertakis 81 -year -old in the chest , although he escaped death .

Although rare - only about 17 deaths were recorded in 1996 - it is clear that the encounter with stingrays can be dangerous . If you plan to swim with these fascinating creatures , make sure you are armed with life insurance .

2 . Having a tattoo

In a world that is separated by language , tattoos are considered a form of expression that is universally recognizable . Tattoos have also been around for thousands of years . Ink injected into the skin using a needle attached to a tattoo machine that can puncture the skin 3,000 times per minute , leaving small holes that it can reach 1/16 inch .

In these cases , open wound will dry up , but still can cause health problems - and possibly even death . Having a life insurance or health insurance is mandatory if you are planning to strike out the desires of your list .

In 2012 , public health offices in New York received reports of non - tuberculous skin infection mycobacterial ( NTM ) at least 14 people who had been tattooed with the gray ink is the same that has been diluted before.

3 . bungee jumping

' Falling into death ' is a common fear in people who do bungee jumping , but the risk is much more than the obvious . Until now , there are about at least half a dozen deaths and nearly as many critical injuries caused by bungee jumping .

Statistics will tell you that 1 in 100 people will die while bungee jumping but the death was not caused by a malfunction of the equipment but rather by a heart attack . Excellent condition and ownership of both life and health insurance is very important before you start jumping .

4 . Swim with sharks

Predator fearless ( and scary ! ) Is always sparked curiosity divers . Swim alongside these creatures the same taste with the most frightening lightning up in the world . There is a thin line between life and death while swimming with sharks .

In 2008 , an Austrian tourist was bitten by a bull shark in the safari shark diving event in the Bahamas island . According to the International Shark Attack File 2012, there were about 80 incidents of " unprovoked attack " by sharks on humans .

Shark attack is not common , but if you plan to put yourself in situations that are vulnerable to this attack , it would make sense if you have life insurance .

5 . Skiing in the Alps

Being in a tropical country , most of Indonesian people dream to ski , at least once in their lives . The game is fun but not without danger .

Skiing accident that exposed massive lately is an accident involving Formula One World champion seven times , Michael Schumacher , who despite using safety equipment slips into a coma .

The hazards associated with skiing including skiing too early before the season that can cause your skis placing the burden of snow cover . Hit a rock or a hindrance when you diberari snow skis can bounce you forward and drop your head first. If you land on soft snow , it would be nice . If you land on top of another object , death can not be avoided .

Make sure you have life insurance and medical insurance before attempting this exercise seem fun .

Life is full of excitement is something that everyone wanted . Thoughts on leaving this world with regret making people rush through life fully - sometimes even carelessly . Both chose to swim with sharks or a vacation in the Bahamas , make sure you do it carefully - and with sufficient insurance coverage !

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Fortunately Loss Package Car Loan and Insurance

The rapid sale of automotive business especially car insurance in Indonesia and one of them caused by the ease in obtaining loans . It also creates a new industry with rapid growth are leasing or financing company credit . Not only the banks that took the market potential , but also financial institutions other than banks that finance companies . As a consumer , you must be smart when to buy a car in cash or credit , and what the appropriate insurance product for you and where you take out the insurance products , either through dealers , finance companies or directly to the insurance company directly . The article below will discuss the advantages and disadvantages of these things in more detail .

Advantages and disadvantages of credit vehicles

If you have more money , buy a car in cash is certainly more cost effective than the credit because you will avoid interest charges . However, cash purchases also have some disadvantages , namely :

Loss of Opportunity ( Opportunity Loss )

Buying a car in cash to make cash / savings drained away so you you can not do any other investment or use of these funds for working capital which could potentially generate higher profits from lending . You can compare when buying on credit , you simply pay a down payment of 30 % so that 70 percent can use for working capital or other investments . Of course this is still speculative , that can be beneficial or even detrimental to you two times , because the loan interest expense and possible loss of business . The choice is in your hands .

Loss Time ( Lost Time )

For those of you who do not have much money and want to buy a car in cash , then you have to save it first for several years and after sufficient funds , you can buy a new car . It is also risky given the price of the car is very likely to rise as the rate of inflation .

Now what about your car insurance ? How can the right to choose the insurance product ?

Finance companies usually require you to take a loan package with insurance . Special first-year and new car loans ( not used) , you will usually be asked to take the All Risk insurance package to protect your car in total , only then you may choose another insurance package in the next year , of course with the same insurance company and has been determined by the lender who is already working with car dealers . So you can not choose other insurance companies as you like .

Advantage Package Car Loan and Insurance

The advantage of this package is an easy process , you do not need to bother thinking about the details of premium , file completeness insurance , survey the condition of the vehicle and so on , as all are listed in the package with your car loan approval process of the finance companies where you take a credit vehicle . You only need to think of a nominal advance credit application and document and measure your ability to pay installments .

Losses Package Car Loan and Insurance

If you buy a car at a dealer either credit or cash , the dealer will offer you a wide range of additional products . It is most wise when you experience this rejection is doing unless you really understand that the product offered is you need and you can get a reasonable price . In principle, if you take out an insurance package at the dealer , then you will get the following disadvantages :

more expensive when compared to taking a direct insurance company in the insurance

no cost should you spend as a reward for cooperation dealer that sells insurance products , and the cost was of course charged to the buyer

Beware of offers such irrational interest zero percent interest . It is generally just a marketing language , because in practice there are other costs increased as a cross-subsidy for the low interest . In addition , dealers sometimes offer "cash back" or a special discount program for fresh graduates as insurance , the owner of a particular bank credit card , military members , and so on . Programs like this that you should dig more complete information so that you can join the program and benefit from it .

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6 Simple Ways to Tap Car Insurance Premiums

For the people in Indonesia , buy an insurance product is less desirable . The lack of access to insurance caused by many things , both the existence of the view that insurance is not required , the premium offered is still expensive , the benefits offered is not in line with the wishes of the people , and the lack of socialization of the importance of insurance .

Insurance penetration in Indonesia is relatively low . In general , insurance penetration or market share is still below 5 % . This is ironic considering the number of Indonesian society registered in 2010 approximately 237 million people . Indonesian society still large untapped insurance industry needs to be a whip for the insurance industry to realize this potential is so great that.

No doubt , there are still many people who think that insurance premiums are expensive and not affordable . It is actually not 100 % true . Because there are several insurance products that are offered relatively affordable premium rate . In fact , if carefully select , we can obtain an insurance product with a fairly low premium rate .

Keep in mind , the premium is the amount of money that must be paid every month as insured obligations for its involvement in an insurance company . The amount of premiums set by the insurance company with particular attention to the condition of the insured .

Policy and Insurance Company Products

Insurance Policy is a contract of insurance or coverage is consensual ( by agreement ) , made ​​in writing in a deed by the parties entered into the agreement . In deed made in writing was called " policy " . Thus , the policy is proof of the insurance agreement is a written proof .

Insurance companies have many products that are offered to the public , which are insurance products . Typically , a vehicle or car insurance premiums offered by insurance companies differ . Different rates offered actually provide benefits for people who want to access insurance products .

Insurance companies continue to compete to create innovations related to auto insurance . Innovation insurance company finally made ​​an impact on the variation of benefits provided to people who intend to purchase car insurance . Actually, on this basis , car insurance premiums could decline . This happened because the penetration of insurance products people would still small . To enlarge the market share of car insurance , many insurance companies slam the price premium . However , you need to be careful to address the low premium rates offered by an insurance company .

Because, if the amount of the premium being offered is low , the public needs to be aware of whether the insurance company has a strong capital to pay claims reported customers . Keep in mind , a good business in the insurance industry is when there is a balance between the amount of premiums to claims . That is, the premium rate should be adjusted by the insurance company's ability to pay its obligations or claims obtained from the customer . When you want to buy insurance with a low premium levels , people need to be careful in sorting out insurance products in Indonesia . In fact , there needs to be awareness of yourself to get a lower premium rate .

Simple Tips to lower premiums

To get car insurance premiums are said to be low or affordable , then people need to look at some of the following, namely :

First , find out in depth car insurance products in all insurance companies in Indonesia . Find out the premium rates offered by each insurance company . Do not forget to find out the benefits provided and deadlines liquefaction process claims . If so, compare these products and decide which one is cheaper yet still provide complete protection .

Second , dare ask for a premium piece . When you want to buy a car insurance product , then there is no harm in doing negotiations with the insurance company . In fact , their bargaining power will be higher when coupled with the ability to control risk while driving .

Third , select the right vehicle . This is important . When you want to buy a new car , it is necessary to consider the type of car to buy , how the level of comfort and safety. Do not buy a car at a fantastic price , because there will be an impact on premium rates .

Fourth , strengthen the ability to drive . With the ability to drive a car that is capable , it will give you a distinct advantage . Because the insurance companies will see it as a foundation capabilities provide a premium level . The more proficient , the lower the level of risk . So is that the lower the premium rate .

Fifth , by adding a variety of security devices . With various safety devices , such as alarms , steering wheel locks , and such risk will be reduced . If the existence of these things already exist , it is not likely to be the basis for people to negotiate the level of car insurance premiums lower ,

Sixth , there is no harm in adding safety and comfort features in your car . There is no harm in adding ABS brakes , front and side air bags , electronic double seat belts , sensors , and the like . This can reduce the risk of injury in a car crash . Reducing risk means car insurance premiums lower .

By paying attention to some of the above , chances are people will get a lower premium rate . More than that , it never hurts to add insight about the insurance products and premium calculation . With in-depth knowledge , the quotes given by insurance agents can reduce the risk of a borrower swallow offers given .

Public knowledge of insurance , including products and calculation of premiums that have been studied in depth will minimize the purchasing power of automobile insurance products offered by insurance agent to excess . Remember , high or low premium rate is not only influenced by the offer of an insurance agent , but also greatly influenced the ability of communities to manage risk .

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Choosing Term Life Insurance

In the beginning , I want to reiterate that I choose Life Insurance Term Life , or often referred to as pure life insurance . Why ? The reason is simple . Low premiums with coverage that fits your needs protection . If there is cheap , why should that expensive .

If you want to know more detail , why it's better choosing term insurance - life , can read the source - the following sources :

Blog Ligwina Hananto financial planner ( www.qmfinancial.com ) . His article describes the advantages of term- life insurance than others . The explanation is simple , " to the point " and very sensible .

The book " Do not Buy Link Unit ... " by Freddy Pieloor . This book dissects unit-linked ( UL ) using real examples from various policy UL several leading insurance companies . Mr. Freddy never become an insurance agent . As the insider , he presents a detailed and insightful explanations .

After reading sources - sources above and compare with an explanation and propaganda of agents who offer other products , you can decide for yourself . Need life insurance term- life , like me , or choose another type of life insurance . That 's your decision .

Message me one .

Whatever the choice , do it with consideration and careful thought . Do not just choose . Do not buy because of a bad taste or pity . Embarrassed by his agent , tired of being questioned and chased - chased at every opportunity . Purchase with confidence that the selected insurance is the most suitable and necessary .

Life insurance is purchased in order to protect the future of children and families . If one chose , those who will be affected .

Back to term insurance - life .

My experience looking for term insurance - life , difficult - difficult easy . Why, why be difficult ? Instead agents are usually very aggressively looking for potential buyers .

Well , because the term- life premiums are relatively small , a few insurance companies that want to sell . Even some companies have started to eliminate these products from their portfolio .

Not only that. In a meeting with several agents , I feel the term - life insurance is not a priority for the products offered . If not asked , the agent does not offer term- life . Precisely other products , the premiums are more expensive, more aggressive sale. Imagine , if prospective buyers about the blind about insurance and only rely on the instructions of agents , we can be sure he will not know the term- life .

Initially , I ask - ask , why be like this . Oh , it turns out , the commission agent is determined from the value of the premium . Hence , a logical consequence , the term - life is smaller premiums , not in order of priority offers . Other products with higher premiums , so the fatter commission , always presented first. Although , maybe, the term - life is actually the most suitable for prospective customers .

So , when intending to buy term - life , need to be ready mentally for the more chatty ask the agent . Do not let go . Ask from the beginning to the agent , before bombarded with other products , if the insurance company has a product term - life . Be patient and do not give up easily when looking for it .

Characteristics Term - Life

I 've offered a life insurance claim as a term - life . In fact , after further investigation , it is not a term insurance - life . How to make sure insurance including term - life ? At a minimum, the following characteristics need to be owned .

First , a limited coverage period , which is protection only applies for a certain period . Most short 1 yr , while most can be 20 yrs old . The term of protection is free to choose , depending on needs .

Insurance that provides protection for life , or until 99 years old , definitely not the term - life . This type of insurance is called whole life .

Liability period becomes important . Limited coverage period lowers the price of premiums . The longer , the more expensive the premiums . Maknya , term insurance premiums - life is cheaper than whole life .

Anyway , what needs to be insured until the age of 99 years ? Average - average life expectancy (life expectancy ) in Indonesia ranged in age from 65 years . Not until the age of 99 years most of the deceased . After all , if it was endowed with the age above 65 to 99 years , children who become insured can certainly have no need to live independently so that the cost of the old strut again . For what had insurance with the coverage during this period , which consequently had to pay a higher premium .

Second , the critical , life - term no cash value . The cash value is dikembalikkan money when there is no claim . No cash value , meaning premiums forfeited . There is no refund of premium in the term - life .

This is what distinguishes the term life whole life and UL which both provide cash value . Policy owner is entitled to get back the cash value if no claim TSB or cash value can be used as collateral for a loan payment of premiums .

Again - again about the price . With no cash value , the price premium term insurance - life insurance be cheaper than other types . The cash value is not free but there is a price . That is , the more expensive premiums .

So , if one is reluctant to take term life , by reason of scorching of the premiums , needs to be asked whether a more expensive premium price instead of the same, or even greater , compared with no return of the premiums . Premiums did not return but compensation premium rates to be cheaper .

Third , the amount of term insurance premiums - life can be the same for a certain period ( eg, five years ) after the rising , or rising steadily every year . For example , the first five years , the premium paid in 1.5juta flats per year , then entered the sixth year rose to 2 million flats again until the 10th year onwards . Meanwhile , the other , the first year premium 1 million , two -year rise 1.1juta , rose again the third year 1.2juta and so on .

Type premiums change every year imposes a first -year premiums are cheaper than the premium flats . While this type of premium flats , the larger the initial premium , but the premium does not change during a certain period .

I chose the premium go up each year , instead of the flat . An increase in salary each year is expected to neutralize the increase in premiums each year as well . Thus , although the premiums go up , but a percentage of salary , payment of premium has not changed .

Thus about term insurance - life . Can ponder and consider , before buying life insurance . 

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Choosing the Best Health Insurance: Allianz, AXA, Cigna, or Manulife

When it decided to stop working and start your own business , one thing that needs to be addressed is the matter of health care costs . How to be financed ? One of them is health insurance . But the problem is , how to choose the best health insurance .

With that purpose , the reviews done on offer from the four leading insurance companies , health insurance is Allianz , AXA health insurance , health insurance and health insurance Manulife Cigna . All four are quite reputable provider and have a cooperation network hospitals including the most extensive . Each take a look and compare the benefits and premiums with each other .

Health insurance is insurance that provides reimbursement of medical costs if the policyholder hospitalized due to disease or accident . The amount of reimbursement by the amount of the bill from the hospital to a certain limit restrictions taken based on the insurance plan .

Health insurance with critical illness insurance is different . Critical illness insurance gives cash benefit if certain critical illnesses . Given a one-time cash benefit in a lump - sum .

Before looking at each - each offer , we should first discuss what the ideal criteria . After that , we can determine which health insurance is good .

Criteria for the Best Health Insurance

According to the literature and the opinion of a financial planner , this was the case - things to consider .

cashless

With cashless , reimbursement claims easier . When admitted to hospital , you do not need to pay , but quite settle the bill with the insurance card swipe . No need to pay upfront , which then still have to be reimbursed to the insurance ( reimbursement) .

However , this requires a cashless hospital where you were treated already cooperate with the insurance because the hospital must have and put the card swipe machines for insurance . If no cooperation , despite having insurance cashless claim system , you are forced to continue to pay upfront and then finish with reimbursements .

Hospital Network Area

Cashless claim can not be done in a hospital that does not have agreements with insurance . Therefore , choose the insurance that has a network of cooperation with many hospitals . Make sure you have subscribed to the hospital ( if any ) in collaboration with health insurance that will be selected .

Ceiling and premiums according Needs and Capabilities

Ideally the chosen health insurance ceiling as desired . If the scheme is taken lower , while later hospitalized , you have to pay extra to cover the lack of insurance that are not guaranteed .

Of course , the high ceiling is proportional to the amount of the premium relates . The more expensive the hospital room , the more expensive the premiums . With the ability to adjust premiums , not even your financial burden . Must be prepared trade- off between the premium and the ceiling . Although it is often not easy , as a matter of health , for example, the selection of a hospital room , the more emotional and tend to want a comfortable and nice , the room rates were expensive implications .

Pure Health Insurance

Choose a stand-alone health insurance , life insurance rider is not a unit -linked . Why ? Expensive . In unit -linked , premiums will be shared for life insurance, investment and new health insurance . Into small portions for health , so you have to pay more to get a higher ceiling . Not to mention , a unit -linked deductions are not small numbers , which further reduce health care premiums .

In pure insurance , premiums are intended - an eye for insured health costs and discounted costs nor the costs in the unit -linked , so that premiums be cheaper or higher insurance coverage . If you want proof , compare the insurance coverage and the amount of health insurance premiums between pure with health insurance who are part of unit-linked .

Prioritize Hospitalization

Health costs include outpatient and inpatient . Should focus on the insurance cover hospitalization costs for this treatment is greatest . If you have more money , can take additional outpatient insurance .

Without Limit per Treatment

There is a limit or ceiling that limits the maximum number of health claims costs . Generally , the insurance limit applies two types , the first is a combined limit of all treatment and the second is a limit per treatment . For example , the first limit restricts combined all treatment costs USD 250 million a year , while the second limit restricts surgical care costs Rp 10 million a year , consulting fees of Rp 10 million a year and so on .

There is a limit of insurance which only uses the first , there were only the second limit and some are using both limits simultaneously. Should select the insurance limits apply first , or in other words do not limit the cost per treatment . It means that the policyholder flexible treatment of various treatments for a total limit is still there . Insurance limits that restrict the first and second limit , of course , the most ideal .

Note the Auto Debit Credit Card Payments

Although it seems to make it easier and usually pay a monthly premium ( finished look lighter ) , please careful - careful to auto - debit payments by credit card . If forced to use this method because the insurance does not provide other payment alternatives , make sure you know when payments begin and how the process if you want to stop .

Avoid Taking Health Insurance via Phone

Bids health insurance through tele - marketing began to emerge plural . Usually in cooperation with the credit card issuer . Related products are quite complex , as this insurance , you should think about , if you could do analysis and research , before making a decision . Therefore , I do not recommend taking a decision as soon as the offer by telemarketing . I never experienced themselves quickly and summarily the bidding process , so a lot of detailed info that can not be delivered due to time constraints . If it is interested and takes the time to think about it , can ask the insurance company contact number , which you can later contact when it is ready.

Wait period Disease

Health insurance requires a waiting period , some diseases can not be claimed for a certain period from the date of expiry of insurance . For example , Cigna establishes the following diseases can only be claimed 12 months later , ie asthma ; tuberculosis (TB ), kidney stones , urinary tract and bladder ; high blood pressure ( hypertension ) , heart and blood vessels ; Diabetes ( Diabetes Mellitus ) ; Vertigo ; and others - others . Ask the insurance company what goes diseases and how long the waiting period .

Judging by Health Insurance

Family health insurance plan that I ask is 3 members of a family , a husband ( age 41 years ) , my wife ( age 41 years ) and girls ( aged 5 years old ) . Inpatient room costs Rp 750,000 per day . The benefits of each - each insurance presented in the table below .

The best health insurance

ALLIANZ

The total premium for the year was USD 11,250,000 hospitalization . Interestingly , in -room inpatient limit for Rp 750,000 to 180 days a year , including the highest among others . However Allianz limit apply per treatment varies depending on the type of treatment . Meanwhile , limits the total limit for the combined knowledge no treatment . Cashless system . More can check at Allianz health insurance .

AXA

The total premium for the year was USD 12,674,000 hospitalization . Although more expensive among others , AXA does not apply limit per treatment . Care is paid according receipts , which are limited treatment combined limit of Rp80 million a year . There were a total combined limit of Rp 250 million a year per person . Hospitalization with room for Rp 750,000 per day maximum of only 60 days a year , fewer than Allianz . Cashless system . More checks at AXA health insurance .

Discussed health insurance is provided by AXA General Insurance , not by AXA Mandiri Financial Services and AXA Financial Indonesia .

CIGNA

Cigna launches new family health insurance , the Family EaziCare . The premium is determined by how much compensation per day and age of the oldest . In this example , the compensation of Rp 800,000 per day and the oldest 41 years of age , the premium per month is Rp 716.600 ( see details at a premium Cigna ) or Rp 8.5992 million a year to a maximum of five members . Looks relatively low premiums , let alone could provide coverage for up to five family members .

However , the benefit is somewhat different form , namely cash compensation . When treated , the compensation per day given a lump-sum , ie Rp 800 thousand , for a maximum of 60 days , no matter how much the cost of the room and the actual maintenance costs incurred .

That is , less or more shall room depending on the difference in total costs and maintenance costs compared to the amount of compensation . Although it looks cheap premiums , benefit is smaller than other insurance premiums more expensive . Cashless system .

MANULIFE

Health insurance is a rider or supplemental life insurance term- life ( Hospital Benefit Plus ) . Although not a pure health insurance , this program has an attractive benefits , not least with a pure insurance . The total premium for the year was USD 9,854,000 hospitalizations . In addition to cheaper premiums from Allianz and AXA , the cost of which is borne rooms also higher at Rp 800,000 per day with a maximum of 60 days a year of hospitalization . However , Manulife limit apply per treatment were relatively low , although there are no restrictions limit a year combined .

Manulife gives two benefits at once , life insurance and health insurance . The benefits of life insurance unit -linked here not because there is no investment element . In addition to the cost of health protection , you get life insurance protection worth Rp 600 million . We know that some other health insurers also provide benefits if the insured dies . But the numbers are small . No one at the insurance provided Manulife .

Finding the Best Health Insurance

All four implementing a cashless system , a family health insurance with inpatient facilities and are not part of the unit -linked . So for these criteria , all of them quite well . Let's look at other criteria .

ceiling

AXA ideal because of the limit of a large enough care with a limit ( the limit is not broken - broken per treatment ) , while others apply different limits - different for each treatment . Allianz and Manulife no limit but limit the total per year with a limit per treatment per year . For Manulife , because it provides additional life insurance coverage , we can reduce the life insurance coverage that we already have and use the excess premiums to increase health insurance premiums . Cigna good with limits restrict or limit the total per treatment . From the ceiling , because the smallest Cigna gave it in the form of cash compensation , which does not change the corresponding cost of hospitalization and physician costs .

premium

The least expensive is because in addition to the amount of premiums Cigna smallest , with premiums as low as it can be insured up to 5 family members ( 2 parents and 3 children ) . Meanwhile , other insurance , the premiums are more expensive , and even then only for 3 family members (more members , higher premiums ) . But , again , the premium associated with the benefits .

Network Hospitals

All of them have extensive cooperation . Which is the most complete information on their web AXA as described in detail the cooperation with hospitals and cashless claim the reimbursement claim .

Want to choose which health insurance ?

Depends . If you do not have insurance , my advice choose between Allianz , AXA or Manulife because they belong to the ideal ceiling . Meanwhile , if you already have insurance from work and want to add the insurance , take my advice Cigna because the insurance premiums are the most economical with fairly .

See more at : http://www.duwitmu.com/asuransi-kesehatan-terbaik-allianz-axa-cigna-manulife/ # sthash.oZYBaaZf.dpuf

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