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If you have Medicare, you may be finding that it doesn t cover all your health costs. That s why there is Medicare supplemental insurance (Medigap). This type of health insurance pays for costs that the original Medicare program doesn t cover, and also for some costs that the original program does cover.

You can purchase a Medigap insurance policy through a private insurance company, such as AARP. There are many plans available, but by law, each company can only offer 12. Each plan offers different benefits, so you will want to take your time and research the plans before making a choice. All 12 Medigap plans offer the same basic benefits, such as paying for your hospital stay from day 61 through 150. The original Medicare plan pays the full amount for your hospital stay for up to 60 days (after you pay your deductible). From days 61 to 150, you have to pay a co-pay.

In addition, Medigap will cover the cost of 365 more days of hospital stay in your lifetime once you have used up the 150 hosp (more...)

Has a life insurance agent suggested that you buy permanent insurance such as Whole Life, Universal Life or Variable Universal Life? The reasons they give seem so compelling, but are they in your best interest? Here s an explanation of the basics, plus what the insurance agent isn t telling you!

There are two broad categories of life insurance-term and permanent. The basic idea behind life insurance is that if you die prematurely, there will be a pot of money there to take care of your loved ones. That pot of money is referred to as the death benefit .

The cost of life insurance is based on your age, your gender and your health. The insurance company bases the premium on the risk that you will die. The older you are or the poorer your health, the more expensive the insurance will be.

The raw cost of insurance goes up every year because the risk of death increases every year. Term and permanent insurance approach the payment plan differently. With level term, these increases in co (more...)