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Understanding the 2022 Medicare Part D Donut Hole Coverage Gap

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If you have a Medicare Part D plan for your prescription drugs, you may get a surprise at the pharmacist: The drug you were taking that has been covered all year suddenly isn't covered anymore. Your pharmacist will charge you more for the drug. If this happens to you, you've probably run into the Medicare Part D coverage gap, often called the "donut hole." Here's how it works: Once you and your plan have spent a certain dollar amount within a calendar year, coverage ceases. You'll have to spend more for drugs out of pocket, or find some other resources, until you hit a catastrophic coverage threshold. At that point, Medicare Part D will cover your prescription drugs again, as it did before. As of 2022, you'll run into the donut hole once you've spent $4,430 in prescription drug costs. Once you hit that threshold, your coverage decreases, and you will need to pay 25% of the cost of brand-name drugs and also 25% of the cost of generics. You'l

Top 5 Factors that effect Life Insurance rates for Seniors

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When seniors are shopping life insurance, they most often will not be looking for fully underwritten (full medical exam) term life insurance. Term insurance only covers a certain period (5, 10, 20 years) and most seniors will want permanent coverage. Also, they will be searching for a “simplified issue” policy that only asks a few medical questions, rather than a full medical exam with lab work. The solution for seniors is a simplified issue whole life (permanent) policy. These types of policies are sometimes called final expense benefit policies or funeral policies because that is often the primary need. Here are the Top 5 Reasons that affect your rate of a simplified issue policy. Age. It is probably not surprising that age is a primary factor that effects life insurance rates. It is a factor whether the person is a senior or younger. As we age, we get closer that day when we will pass and therefore a higher likelihood that our life insurance will pay. For rate calculations, most ins

Final Expense Benefit Insurance - A Full Presentation

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(Click Read More to see the video) We were asked by some clients with whom we had met one-on-one, in-person, by telephone, and Zoom, if we could provide our detailed presentation so they could reference it. We had the same request from clients who had already purchased Final Expense Benefit Insurance. So, we don't usually have background music when educating clients, but we put together this comprehensive video that uses most of the elements we use for our live presentations. You may even think of it as a recorded webinar. Included in the video is a list of Top 10 reasons NOT to get burial insurance. We hope that you find the video educational, and as always, if not us, we recommend that you consult with a licensed broker. You can find all our videos on YouTube at  https://www.youtube.com/channel/UCbvnHdecKQorVJuD2_BSbnA Enjoy...

InsureMeNowDirect

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Looking for a simple way to get insurance? Click the video below or go to  https://insuremenowdirect.com/agent/goatplanning/

Will Final Expense Life Insurance Expire?

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  Most people out there use life insurance as a way to financially protect their loved ones from financial catastrophe. The truth is dying is not cheap and life insurance is a way to cover one’s final expenses after they pass away such as, burial, funeral, and financial debt. One very important thing to understand is that final expense is a whole life insurance policy. As mentioned, it’s a specific type of life insurance used to protect your loved ones financially after death. Due to the policy being a whole life policy, one might wonder, will it cover me until I die?. We will go over how it works and why a true final expense policy is meant to cover you for the rest of your life. Final Expense 101 These whole life policies known as final expense work in a very simple way: ● The monthly dues, known as premiums, can never increase and will remain the same. ● The death benefit, the lump sum that your beneficiary receives after you pass, will never decrease. ● The policy will not expire d

Three Hidden Benefits of Final Expense Life Insurance

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It’s easy to think of life insurance as a financial safety net that you can leave behind for your loved ones. However, when it comes to Final Expense, a specific type of life insurance, the added and intangible benefits that come with it are definitely worth learning about. Lets go over a few of these added values and how you and your loved ones can benefit from them, 1.Removes a layer of stress for your grieving loved ones It’s no surprise that one of the first things that come to mind after a loved one passes away is how to go by performing their funeral services, whether it be burial, cremation, or any other last wishes the deceased would have wanted. In these situations family members are often emotionally grieving their loss and are unable to make clear financial decisions, especially if they don't have the needed money to cover their loved one’s post death expenses. This can leave loved ones vulnerable to last minute scrambling in order to come up with the funds or even worse

What is a Simplified Issue Final Expense Policy?

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  Life insurance is thought to be a great option for protecting your loved ones against the unknown but inevitable financial burden that comes with losing the main provider in the household. Generally people think of life insurance as having a policy that will pay out money to their loved ones after they pass away. The truth is not everyone is aware that there are many types of life insurance policies available in the market including some which can serve very specific purposes. In this article we will go over a type of life insurance policy known as a simplified issue final expense policy. What makes it simple? Traditionally, life insurance companies have always required applicants to undergo an assessment of their health in order to qualify for a life insurance policy or for the insurance carrier(s) to make an offer of coverage to that applicant. Most of the time these health assessments required physical exams to be performed by a licensed nurse with a requirement for blood and urin