Health/Life/Disability & Long Term Care Insurance

We’re the Health Insurance expert in Buffalo

Understanding the ins and outs of health insurance has become more and more difficult over the past several years.

Luckily, at Webb Insurance & Homes, we have access to a long list of health insurance providers, and can walk you through your options.

Individual & Group Health Insurance

If you are an individual or family who does not currently have insurance through a group employer plan, our agency can walk you through your individual health plan options. If you own a business and would like to compare your options for group coverage, we can help you with that also.

If you’ve ever tried to decipher health insurance plans on your own, you may have noticed that there are dozens of different plan types, and multiple providers who offer them.

This leads to confusion as to which company is best, and which plan is most appropriate for you needs.

Health Insurance Plan Variables

When deciding which plan is best, there are multiple variables that impact the final cost. During our meeting or phone call, we’ll discuss things like:

• Deductible options
• Co-insurance percentages
• Waiting Periods
• Exclusions & Conditions

If that sounds confusing, don’t worry, we’ll make it very simple.

How to get started on your Health Insurance quotes

To get started on your quote, call our office or click over to our quotes page. Either way we’ll make the process simple!

Looking for Life Insurance in Buffalo?

Life insurance is not only the cornerstone of a solid financial plan, but it’s hands down one of the most cost effective ways to protect the people who depend on you financially.

What would happen to your family if you were to die prematurely? Would they be able to maintain their current lifestyle?

Would your kids be able to go to college? Would your spouse be able to shoulder the load with one income?

If you have a child, are married, or you are carrying any kind of debt, purchasing life insurance is a no-brainer.

If all three, well, hopefully you already have life insurance. Here are a few other reasons to have life insurance though:

• charitable donations
• pay federal death and estate taxes
• create an inheritance for your heirs
• pay final expenses

We make buying life insurance easy

At Webb Insurance & Homes, we make the process of buying life insurance extremely simple.

We have access to a wide range of life insurance companies so we can survey the marketplace and based on your individual rating criteria, find the best possible life insurance policy at the best price.

When purchasing life insurance there are a few things to consider. Do you want Term Life Insurance, or Whole Life?

If you don’t understand the difference that’s okay. That’s what we’re here for.

Life insurance is based on two main variables — your age, and your health.

How much life insurance do I need?

A mistake that we often see people make is basing their life insurance coverage on a guess, or just grabbing a number out of thin air without realizing what the impact of inflation could have on their life insurance proceeds.

One of the benefits of working with an independent agent like us is that we can sit down, and through a comprehensive needs analysis, determine the exact amount of coverage you will need to protect the people who depend on you.

The amount of coverage you need depends on a number of different variables. Here are a few examples:

• how many children you have
• your future earnings potential
• whether or not you’re married
• spouses future earnings potential
• you and your spouses age
• amount of debt you have

Looking for Disability Insurance in Buffalo?

Webb Insurance & Homes has got you covered!

Throughout your working lifetime, you are three times more likely to become disabled than you are to die before age 65. Makes a convincing case for having disability insurance, right?

Why then is it that people have historically been more likely to buy life insurance, not disability insurance?

The answer is simple: insurance consumers are confused by disability insurance. There are so many terms to understand that people typically give up, and end up not purchasing coverage at all.

If that sounds like you, don’t worry. The team at Webb Insurance & Homes is here to help.

Disability Insurance is critical in ensuring that your income is protected in the event you can no longer work due to an injury or illness.

If you search the internet you’ll see a ton of different results from companies and brokers claiming to offer the best policy, but it’s important that you understand this type of coverage before you make a decision.

The Two different types of Disability Insurance

There are two different types of disability coverage:

Long Term Disability

Long Term Disability (LTD policies have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life

Short Term Disability

Short Term Disability (STD) policies have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.

Important Disability Insurance Conditions

Non-cancelable

This means the policy cannot be canceled by the insurance company, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits.

Guaranteed renewable

This gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.

More things to consider

In addition to the traditional disability policies, there are several options you should consider when purchasing a policy:

• Additional purchase options
  Your insurance company gives you the right to buy additional insurance at a later time.
• Coordination of benefits
  The amount of benefits you receive from your insurance company is dependent on other benefits you receive because of your disability. Your policy specifies a target amount you will receive from all the policies combined, so this policy will make up the difference not paid by other policies.
• Cost of living adjustment (COLA) 
  The COLA increases your disability benefits over time based on the increased cost of living measured by the Consumer Price Index. You will pay a higher premium if you select the COLA.
• Residual or partial disability rider 
  This provision allows you to return to work part-time, collect part of your salary and receive a partial disability payment if you are still partially disabled.
• Return of premium
  This provision requires the insurance company to refund part of your premium if no claims are made for a specific period of time declared in the policy.
• Waiver of premium provision
  This clause means that you do not have to pay premiums on the policy after you’re disabled for 90 days.

If this sounds confusing, don’t worry. The team at Webb Insurance & Homes is here to walk you through your options and make sure you get the best possible coverage for your needs and budget.

 

Looking for Long Term Care Insurance in Minnesota?

Many people get overly concerned with their health insurance and/or Medicare, but it’s lack of Long Term Care coverage that often times will financially cripple you.

Long Term Care expenses are the leading cause of bankruptcy during retirement, and the statistics show that over 75% of people over the age of 65 will need some form of Long Term Care at some point during their retirement.

It’s not a matter of if you will need Long Term Care it’s when and with the cost of Long Term Care inflating at record pace, not planning ahead will result in serious financial hardship at a time when you are supposed to be living out the rest of your life in peace.

When most people think of Long Term Care insurance, they think of a traditional LTC policy, however there are several different ways to fund long term care outside of the typical LTC policy.

With more creative and flexible insurance products on the market now, it’s important to evaluate every single option you have, and thats exactly what we can help you do, so you can live the rest of your retirement knowing that you won’t be financial destroyed, or financial destroy someone else like a child or relative.

If you need assistance with any type of senior insurance product, be sure to give us a call, or head over to our contact page to begin the process.