If you have little knowledge about Medicare you have a lot of questions for sure. Here in this article we will try to answer your questions.
You have received insurance prices from 3 different insurance agents, each representing different insurance companies. You have chosen 1 carrier for group life insurance. You have chosen another carrier for group “Long Term Disability” insurance. You have chosen the third carrier. It calls voluntary insurance plan. The fourth insurance for cancer / critical illness will be offered for the employees. This also can be bought through payroll deduction.
It helps the employee to save 200$ per month and the ratings from the other companies are the best to be offered. They are based on the received proposals.
When you are satisfied with yourself and know that you have done a good job you will not be able to tell how much additional work you have given yourself in the future.
In case the employee has a heart attack the employee has to get in touch with two additional insurance companies, the short term disability carrier and the critical illness carrier. Besides, the health insurance carrier will deal with extra red tape. Each of the carriers has their own claim form to be filled in by the employer, the doctor and the employee.
If after several months the employee’s health worsens it is the right time to get in touch with another insurance carrier for a long term disability claim form. And in this case it is the same; the form should be filled in by the employee, employer and the doctor.
If the employee happened to die a fourth claim form should be completed. So you see that you probably have paid additional money to the company insuring all phases of your supplemental insurance. Ask yourself is it worth to save $100 or $200 for the extra work at claim time.
An insurance company may require one claim form and a copy of the death certificate in the end. It is vital to know all the issues when making a choice about employee advantages. Be careful, consider all the issues. Consider the fact that not all insurance companies have “seamless” system demanding only one claim form.
We often have to do with one insurance agent and never give an opportunity to another agent to provide a quote. This decision is more expensive. If your insurance broker or agent offers more than one carrier it relates to a different commission structure. The insurance company can provide with extra 10 % on disability insurance and 5 % on critical illness. If you turned to be in such situation who is your broker actually looking to service, you or their own pocket?
Medicare is not an unsolvable issue if you know its general and most important notions. We at medicare supplemental insurance site not only offer frugal products of this market, but also share for free useful knowledge about medicare plans.
Tags: Health and Fitness