Utah Health & life Insurance Quotes
Health insurance policies are designed to help you pay for any medical care you may need, such as doctor visits, surgeries, hospitalizations and medication. However, not all Utah health insurance policies are the same. Below are some facts to help you understand the basics of Utah health insurance options.
Because of the Affordable Care Act, all health insurance policies now cover certain basic expenses, such as preventative care and maternity expenses. However, some optional coverages are still available, and the percentage of expenses covered in and out of network still varies by policy and provider.
Deductibles and Co-Pays
Most health insurance plans include a deductible, which is an amount you must pay each year for your own medical expenses before the plan will begin to cover them. Deductibles vary by plan, and lower deductibles typically come with higher premiums. Health insurance plans also include co-pays, which are amounts you must pay on your own each time you purchase medication or visit a doctor or medical center.
All health insurance plans include an out-of-pocket maximum, which is the amount you must pay before the policy will begin covering 100 percent of your expenses. If your policy covers more than one person in your family, it may include separate individual and family out-of-pocket maximums. All policies also require you to pay monthly premiums, which vary based on the options you choose.
Finding a Policy
With so many options available, shopping for a health insurance policy can be confusing. Fortunately, consulting a qualified agent can help. When shopping for health insurance, it's best to work with an independent agent from a Salt Lake City agency like Ark Insurance Solutions. Independent agencies are more consumer-oriented, and their agents are more likely to be accessible to address any questions or concerns you may have about your insurance needs.
The Facts about Utah Life Insurance
Life insurance is a touchy topic; no one likes thinking about passing on, so many people put off buying life insurance thinking that they're too young or that buying it will cause an unfortunate event to occur. Both of these are wrong. No one is too young for life insurance and buying it will not cause you to pass away earlier. If anything you might think that now that you have insurance, you may not ever use it!
There are two basic types of life insurance: whole life and term life. As its name implies, whole life insurance will cover you for your whole life, provided that you continue to pay the premiums. Upon your death, the money will go to your designated beneficiary. Some whole life policies include a savings account which holds some of your premiums. If you choose to cancel the policy, the money in the savings account is yours to keep. Term life insurance is less expensive but it only covers you for the length of time that your policy covers, usually 10, 15 or 20 years. When the term is over, you get nothing in return but you can opt to purchase another policy or self-insure.
Life insurance is designed to provide money for your loved ones when you pass on. It essentially replaces your income, so you should buy a policy that is roughly equal to eight to ten times your annual income. Unless you don't have any dependents, such as singles and retired individuals, you really need to have life insurance. Even single parents and stay at home parents shouldn't risk not having insurance.
When you work with Ark Insurance Solutions, you can be sure you're being treated like the individual that you are. As an independent agent working with multiple insurance companies, our goal is to educate you about your insurance options and answer any questions that you have. Our team will work with you to get you a policy that you understand and that is right for your needs. If you're in the Salt Lake City, Utah area, contact us today to learn how we can help you.