Going on a Trip? Don’t Forget About Your Health

With the holiday season upon us, thousands of people across the nation will take to the air or the roads to visit family, celebrate good tidings or simply take some much-needed vacation time.

For most people, travel sparks good times and relaxation. But those who travel outside of the U.S. could find themselves without medical coverage. And if an unexpected illness or accident were to occur, it could mean big expenses.

Many health insurance policies don’t cover health problems when policyholders travel internationally. Therefore, traveler insurance can be a great help should an accident happen or sickness occur while in a foreign country.

There are a variety of different traveler insurance policies. One popular plan is a medical travel plan. These types of policies will cover an insured solely when a medical need arises. These plans are priced based on the policyholder’s age as well as the types of medical limits that the insured selects on the application for coverage. Some of these policies will cover the policyholder for up to one year – so even in extended travel situations, an insured could be covered.

Another popular type of insurance policy for foreign travelers is the package insurance plan. These policies are more comprehensive than the basic medical travel plans and will typically help with more than just the medical needs of the policyholder.

For instance, many of these plans offer 24-hour emergency hotlines where the insured can receive assistance with lost passports or luggage, money transfers, and even legal issues in certain cases.

The premiums for a package travel insurance policy are usually based on the age of the applicant as well as the estimated cost and length of the trip.

When planning a foreign trip, traveler insurance should be a consideration, as medical issues can and do arise.

The cost of the premium for such plans may be a small price to pay in relation to the coverage that could be received in case of a foreign travel emergency.

Does Your Health Insurance Cover You for Breast Cancer?

It is estimated that roughly one in every eight women in the U.S. will get breast cancer, making this disease the second-leading cause of cancer death for women in the nation.

With this in mind, having a good solid health insurance plan is imperative to receiving the necessary treatment should this diagnosis occur.

In fact, having access to medical care can even help prevent this disease if it is detected early enough via regular mammograms.

When applying for new health insurance coverage, there are a number of things that women should look for in a policy that will help in the prevention and/or treatment of breast cancer should that need arise.

For example, because breast cancer is so prevalent, it is important to make sure that a health plan will cover mammograms at least annually.

The prevention or early detection of breast cancer can help to avoid other costly medical treatment.

However, should a diagnosis actually occur, it is also important to be sure that management and treatment of the disease are also covered.

This can include regular doctor appointments but should also encompass any necessary chemotherapy as well as mastectomy and/or breast reconstructive procedures that may be needed.

With the high likelihood of breast cancer occurring in so many families today, it is imperative to have a health insurance policy that will offer sufficient coverage to pay for the medical attention and procedures to help prevent or deter this serious ailment.

In Your 20s? Consider Life Insurance Now

o one wants to think about his or her own mortality, especially the young and healthy.

However, individuals in their 20s may want to consider it.

That’s because the best way to get the right kind of life insurance coverage when you need it is to buy it when you don’t.

Following are three good reasons to consider buying life insurance when you’re relatively young:

You Have Debt:

Debt includes mortgage, student loans and credit card balances.

If you died in an accident, who would pay off your debts? Your parents? Life insurance ensures that you don’t become a financial burden to those you love.

You Have Dependents:

Who depends on you? A partner? A child? Other family members? And how would they fare if your income disappeared?

Would they be able to live and retire on their own?

Life insurance ensures that they have time to get back on their feet.

It’s Cheaper When You’re Younger:

Waiting until you need life insurance is the worst time to buy life insurance.

That’s because the rates go up as you age. Buying now locks in affordable premiums for decades to come.

If you don’t have life insurance and want it, you’ll need to calculate how much you need.

Even if you’re covered by life insurance through your employer, you may want to find out how much is provided and determine if you need more.

One rule of thumb is to take your family debt, add $20,000 for funeral and taxes, add $60,000 per child for education, then add 20 times the annual income you want to replace.

That may sound like a significant amount of life insurance, but again, when you’re young it’s relatively inexpensive – and what better place to put a little of your insurance money?

Win Peace of Mind With Umbrella Coverage

A personal umbrella insurance policy can give you added protection and peace of mind.

Property insurance and liability coverage are important, but a personal umbrella policy provides the extra coverage you might need.

With property insurance, you are insuring a tangible item. That tangible item could be a boat or diamond ring, and it will have a specific value. The limit of the property insurance will reflect that value.

Liability insurance, on the other hand, protects you from negligent behavior. You can’t easily put a price tag on behavior. When we engage in certain type of activities, there is always the possibility of injuring another or damaging his or her property.

For example, if you were to be sued for causing a car or boat accident, the limit on your auto and boat policy would be used up first. However, if you have a $1 million liability limit but are ordered to pay $2 million in damages, your auto or boat policy would not provide enough coverage. You’d be responsible for paying the second $1 million out of your own pocket.

A personal umbrella insurance policy will help you avoid that situation because it provides additional liability coverage once the primary policy runs out.

It might make sense for you to have a personal umbrella insurance policy for your auto or boat, as lawsuits can easily skyrocket beyond $1 million.

A personal umbrella insurance policy might also be good in addition to your homeowner policy.

Business owners, especially, should have a personal umbrella insurance policy so they are protected if they are sued personally as well as professionally.

So can you ever have too much liability insurance? The answer is no.

That’s because you never know how much you would need if you are

brought into a lawsuit. You can buy a $1 million policy but end up in a lawsuit for $5 million. This is why it’s always best to buy as much liability insurance as you can afford.

Your agent can help you determine how much coverage is right for you.

Joining a Board? Make Sure You’re Properly Insured

Proper insurance coverage for directors and officers is needed by organizations both large and small.

People don’t want to take on these types of positions if they know their personal assets could be at stake if they were to be sued.

Directors’ and officers’ coverage provides that protection. Such a policy ensures that the personal assets of a director or officer of the corporation are protected.

Liability is often an issue when corporate decisions are made and somebody feels they’ve lost money or they’ve been harmed in some way.

Nonprofit organizations like social service and mental health agencies, condo associations, private schools, day care centers, churches and other religious organizations, and youth sports organizations are all examples of groups that would benefit from a directors’ and officers’ policy.

Many people want to volunteer their time on such nonprofit boards, but they may not realize they take on the legal responsibilities of these positions.

In a nonprofit setting, claims can arise from an alleged wrongful termination or a perceived mismanagement of the organization’s funds.

Both can be financially devastating without a proper directors’ and officers’ policy in place.

In addition to the liability coverage it provides, the directors’ and officers’ policy will pay to defend all claims. Defending a lawsuit can cost several hundred thousand dollars. Be sure to find a policy where the defense costs are covered in addition to the limit of insurance.

What You Need to Know About Workers’ Comp

What You Need to Know About Workers’ Comp

Before the federal government stepped in during the early 1900s, the only recourse an injured employee or their family had was to launch a lawsuit against an employer.

At that time, employers felt they did not have an obligation to continue to pay employees who’d been injured on the job.

Pittsburgh Survey

The Pittsburgh Survey, a detailed study done in 1907-08 of living and working conditions in Allegheny County, Pennsylvania, had a special impact on job safety and health.

A major topic of the study was industrial accidents.

The study found that injured workers and survivors of those killed on the job bore the economic brunt of accidents, even though most were the fault of employers.

Authors of the study agreed that, for reasons of social equity, employers should bear a substantial share of the economic burden.

The theory behind this strategy was that it would give the employers more incentive to eliminate the causes of accidents.

Legislation

In the early 1930s, labor standards started taking shape.

The government quickly enacted legislation that created a minimum wage.

Health and Safety

By 1970, health and safety in the workplace came to prominence.

So did fair labor standards.

Workers’ compensation policies were eventually created to give both employers and employees protection and satisfaction.

How It Works

For a work-related injury, an employee may sue the employer or collect medical payments.

The employee does not get both options.

To reflect this, workers’ compensation policies limit the liability available to an employer if an employee sues.

The policies also classify all employees based on their job descriptions.

Employees Rated

Each employee is rated based on the degree of risk of injury and the amount of payroll the employer pays that group of people.

For example, a roofing company will have roofers on the road all day for various jobs, as well as clerical people in the office. Roofers are rated more highly because their job poses more of a danger.

There is a greater likelihood that a roofer in the field would incur a severe injury than a worker in the office, who is in a relatively safer environment all day.

Requirements

Workers’ compensation coverage is a requirement in every state whether an employer has one worker or hundreds.

No matter what kind of business you have, let your insurance agent help you find the best policy to meet your needs.

Trip Canceled? No Problem With the Right Insurance

So you’re going on that dream vacation. The trip is booked, the bags are packed and you’re ready to go. But have you purchased your trip cancellation insurance?

In all the excitement of the new trip, you might think such insurance is like a used car warranty where you end up paying too much for something you never use. You can’t imagine that anything would happen to ruin your upcoming adventure.

But stuff happens, and when it does – whether traveling within the U.S. or in a foreign country – it can crimp your plans. Hurricanes and snowstorms can shut down travel, the company you’re booked with can go out of business, or you or your children may get sick while traveling.

Without trip cancellation coverage, you could suffer a financial loss as well as not enjoy the trip of your dreams.

With trip cancellation coverage, however, you can get reimbursed for the following: emergency evacuation/medical air evacuation/repatriation of remains; return of a minor child; trip cancellation/interruption; accidental death, injury or disablement benefit; overseas funeral expenses; curtailed or delayed departure or missed connection; lost, stolen or damaged baggage, personal effects or travel documents; delayed baggage and emergency replacement of essential items; legal assistance; a flight connection that was missed due to the airline schedule; travel delays due to weather; a medical emergency; and hospital care due to an accident or sickness.

Being properly protected will give you peace of mind when things don’t go as planned.