The cash surrender value of a life insurance policy can decrease for several reasons. Understanding what impacts cash surrender value is important if you ever need to cash out your permanent life insurance policy. What is Cash Surrender Value in Life Insurance? Cash surrender value refers to the amount of money you would receive if … Read more
Self-insuring your home means foregoing traditional home insurance and instead using your own money to cover any losses or damages. While self-insuring may seem like a way to save on insurance premiums, it carries significant financial risks that make it impractical for most homeowners. What is Self-Insuring a Home? Self-insuring your home means you have … Read more
Medicare is indeed a third-party payor for healthcare expenses. As one of the largest public health insurance programs in the United States, Medicare covers over 60 million Americans aged 65 and older and younger people with certain disabilities. When people with Medicare receive medical care, Medicare pays most of the bill directly to healthcare providers, … Read more
Homeowners insurance provides protection for your home against damages caused by covered perils like fire, theft, storms, and more. It covers repairs and reconstruction costs if your home is damaged. But what if something happens to your home when you don’t have an active insurance policy? Can you get homeowners insurance to cover pre-existing damages? … Read more
Co insurance is a common clause in many property insurance policies that requires the policyholder to carry a certain amount of insurance coverage relative to the total value of their property. If the insured does not maintain adequate limits, they may be penalized through co insurance in the event of a claim. This article explores … Read more
In the complex world of insurance, you’ve likely come across the term “MGA” without knowing exactly what it means. MGA stands for managing general agent, a specialized role within insurance markets. Keep reading to understand what an MGA is, what they do, and how they can benefit insurance brokers and policyholders. What is an MGA? … Read more
Managed care refers to a variety of methods and systems that are intended to control healthcare costs and utilization. There are several different managed care models that organize provider networks, member services, and reimbursement approaches in order to manage the cost, quality, and access to healthcare. The six main types of managed care models include: … Read more
Medicare Supplement, also known as Medigap, plans can be quite expensive depending on where you live and which company you purchase from. A lot of seniors are shocked when they start shopping for Medigap plans and see premiums of $150, $200, or even $300 per month. That can add up to thousands of dollars per … Read more
If you’ve been in a car accident and filed an insurance claim, you may have the option to get a cash settlement from your insurer rather than having them repair your vehicle. But what exactly does this mean? A cash settlement is when the insurance company pays you a lump sum of money rather than … Read more
The Affordable Care Act (ACA) requires employers to report the cost of health insurance coverage on employees’ W-2 forms. This reporting helps employees understand the value of their employer-provided health benefits. What is Form W-2? The W-2 is an annual tax form that employers must send to employees and the IRS at the end of … Read more