Life is already expensive enough with all the ongoing bills and living expenses to pay, so it’s only natural to put off investing in things that do not give an immediate return (you hope) such as life insurance. Added to which, younger folks simply do not think much about dying, typically lead a busy lifestyle, and therefore rarely even broach the subject.

Many people are also single and feel that there’s no need for a life insurance policy because they don’t support anyone else and have no dependents. It’s not until later years and a few funerals have passed that most people begin to think more about the “what if” factor.

The fact is that unless you have wealthy relatives or a decent amount of money set aside, it’s likely that you could use at least a smaller-sized policy to clean up the loose ends when you die. And yes, no matter how young or healthy, it’s only a matter of time – hopefully many years from now, but perhaps much sooner than anticipated. Think of your friends or family members – or read the latest news edition…

At the very least it’s a good idea to have a small policy to cover funeral costs, final medical bills and any debts or outstanding bills. Even if single, should you die tomorrow, who would these responsibilities otherwise fall to? It’s always better to be remembered for leaving a clean slate, rather than a bunch of unpaid bills and expenses for others to try to clean up.

The good news is that you are in a prime position during the prime years of your life for buying insurance. The reason is simply that policies can be dirt-cheap while you are young and healthy. Once age creeps in, often accompanied by various health conditions, insurance becomes more and more expensive. And if health conditions become bad enough, even unobtainable.

The “even better” news is that once you purchase a life insurance policy, your low rates are locked in for good no matter how old you get or how poor your health should become. (I.e., it’s better to be locked in than locked out!)

If you are married or have anyone else depending on you for support, then having life insurance becomes a no-brainer for obvious reasons. Following are a few other ways that life insurance can be used, some perhaps you’ve not thought of before now…

Funerals and final expenses

“Final Expense” life insurance policies are small, affordable and popular. They are most common for those who are on fixed or limited incomes because even though they might not be able to buy a large policy to protect their loved ones, they would at least like to leave enough to cover the costs of burials, medical bills and outstanding debts. Funeral costs can be all over the board and no one knows exactly what other debts may have accrued when the time comes, but the average-sized final expense policy is usually for an amount between $10,000 and $30,000, and more if affordable. These types of policies are intended to be paid out fast – in a matter of days – when the funds are needed most.

Property mortgages and other debts

Do you own a home that you still make mortgage payments on? If so, it’s common practice to leave at least enough money behind to pay it off. In so doing, you can leave it free and clear for a spouse or for someone else via inheritance as opposed to letting it revert back to the lender. A nice legacy to leave behind. And if the mortgage has been paid down (or right off) since the policy was purchased, I’m certain the extra funds could be put to good use, such as paying off any loans or credit card debts or simply for general living expenses.

There are many other ways a life insurance policy could be used as well, including for an educational fund for a child, to preserve an estate, to help out a disabled family member, to leave a nice donation to a church or favorite charitable organization, or for funding a business continuation plan if you are in business and have a partner or co-owners.

In the past, graduation was marked with the anticipation of facing real-world responsibilities. Of that was obtaining health insurance – the exorbitant cost, whether or not to buy and if it was really necessary. In September many young graduates anxieties were quelled when one of the first parts of health care reform went into effect. Under the Patient Protection and Affordable Care Act young adults are now allowed to stay on their parents’ health insurance plan until age 26.

Before the landmark Act was signed into law, many young adults were left with no insurance after graduation and no means to pay for expensive coverage. Experts say myths such as the “invincible” young adult who never gets sick are generally not the primary reason for lack of coverage. Instead young adults face the same reasons for not having health benefits as their other uninsured counterparts: they don’t make enough money to be able to afford insurance or their employer doesn’t subsidize or offer coverage.

Robyn Jordan, a 2007 graduate of Indiana University’s Bloomington campus found herself without insurance after she was put on hiatus because of the 2008 Writers Guild Strike. She found herself in need of a job, primarily because of insurance purposes.

“If I was able to stay on my parents insurance until I turned 26, I’m sure I would have taken more risks in my career choice,” Jordan said. “I have vision problems so eye insurance is very important to me. If I was able to have that through my parents insurance I may have thought more about freelancing or temporary jobs that would have been more beneficial in my ultimate career goals then the entry level job that I did eventually take.”

Under the new rule, children are eligible for dependent coverage regardless of their residency with or without their parents, their school status, whether or not they’re married or financially dependent. For employer plans that were in existence prior to the date of enactment, young adults can qualify for dependent coverage only if they’re not eligible for employment-based health insurance.

Jill M. Klingner, assistant professor of Healthcare and Operations Management at University of Minnesota Duluth said adding young, healthy insureds will balance the currently insured.

“(The Affordable Care Act) allows young people staring out to be creative with career choices,” Klingner said. “They are young and healthy so they should add healthy insured to balance the currently insured.”

The uninsured rate for those persons aged 18 to 24 increased from 28.6 percent in 2008 to 30.4 percent in 2009 according to the Census Bureau’s report. Young adults and recent graduates just starting their careers typically have lower wage jobs – holding part-time, entry-level or temporary positions.

The cost of insurance options such as COBRA (monthly payment of the entire premium that was paid as an active employee and the amount of contribution made by your employer, along with administration fees) is often too much for young persons. Student loans, rent, car payments and daily living expenses seem to be at the forefront of priorities when life isn’t spent worrying about impending accidents and illness.

It’s easier for 20-somethings to forego insurance when they’re all generally healthy and don’t have the money. However, is it also a fantasy that all young adults healthy? Chronic conditions such as arthritis, cancer, diabetes, heart disease and hypertension is found in 15 percent of young adults aged 18 to 29. And half of young adults are considered above a normal weight range, 24 percent qualifying as obese.

These same young adults are far more likely to go to the emergency room due to injury-related visits, more than any other age group. This poses a huge problem for the highest uninsured group in the country. According to The Commonwealth’s 2009 study, “More than one-third (35 percent) of all young adults surveyed, both insured, and uninsured, reported problems with paying medical bills, including having trouble making payments, being contacted by a collection agency because of their inability to pay bills, significantly changing their way of life in order to pay medical bills or paying off medical debt over time.”

The option of staying on one’s parents health plan seems to be the easiest option. However for those households who have been hit by the current economic turbulence the cost of keeping their children on their coverage may also pose a financial problem. Continuing to cover a child will raise family premiums on average.7 percent, according to the U.S. Department of Health and Human Services.

The New York Times reported, “The health department estimated that the average cost to cover each new enrollee would be $3,380 in 2011, $3,500 in 2012 and $3,690 in 2013.”

The current high unemployment rates have exacerbated the already difficult transition from childhood to adult responsibilities, added to that the high expense of their parents’ health insurance. Declines in median household incomes were experienced the most in households with young persons aged 15 to 24 down 4.4 percent.

Short term medical insurance may be the best bet for young adults with lower incomes. Payments as low as $30 per month with services such as preventative care options, prescription drug benefits and low deductibles can ease the pain of high insurance premiums. There are also limited benefit medical and hospital indemnity plans that cover more catastrophic conditions. All three of these health insurance plans are worth considering for a 20-something who can afford to pay for their own doctor’s visits they may have on occasion, but not the unknown hospitalizations or more serious care that could be financially damaging.

Insuring your small business is never easy. It takes awhile, and it can be challenging finding a firm that represents your needs and understands the challenges you face in your niche industry. With current economic hardships, many companies are cutting back on their insurance, a strategy that could mean financial ruin given a bad enough disaster, such as a fire or flood. Many businesses never reopen after such losses, and having insufficient insurance can mean a total loss of assets. Insuring your business with ample coverage from a qualified broker can increase your odds of long term success, even in the event of losing your building or equipment.

Check the reputation of existing insurance companies before committing to a policy. Getting a policy with the wrong company can be not only expensive, but when push comes to shove, your policy may even prove to be worthless. Do your homework by checking online insurance provider comparison sites and the Better Business Bureau, along with web sites and trade papers dedicated to insurance issues as they are related to your industry.

Liability coverage is essential. If you do not have enough to cover lawsuits and property damage, you could find yourself borrowing money to pay back the damages, owing large amounts of interest on an amount of money too large for you to ever pay back. In these types of situations, bankruptcy seems to be the only way out, and less than satisfactory coverage can mean more paperwork for even the most frivolous lawsuits, leading to lost productivity.

Businesses rely on insurance companies that are easy to work with, and meeting with agents should be easy to arrange, not hard. An open schedule and a competent staff of field agents assigned to specific policyholders allows companies greater freedom and flexibility when it comes to handling insurance issues. Insuring your business with the right people is paramount. It is good to avoid the newer companies until they’ve had a chance to prove themselves. This is particularly true if your business is a recent start-up.

Some online companies portraying themselves as insurance brokers are actually scam artists, so basic things like checking for a working phone number and email address, along with other evidence of an active and healthy insurance business, are a must. Being able to trust your insurance company with the practical realities of your business, and having the option of adding additional coverage, such as fire, flood, and earthquake insurance, is essential to a good working relationship with them as a policyholder, and is also essential to your future and long term success.

With the rising costs of expenses these days and the risks that abound a lot of people, it is important that everyone gets themselves covered with healthiness assurance plans. You can get them from a health insurance agency. In fact, for every state, there is bound to be one healthiness insurance agency that can cover your healthiness needs. Having said all of these, just what is a health insurance agency?

A health insurance agency provides coverage for people who are in need of special healthiness services. Most of the times, health insurance agencies provide coverage on hospitalization fees, doctor’s check-up and even costs for medical operations. On the other hand, it is important to take note that all of these companies do not follow a standard healthiness benefits cover. There are some companies that cover certain aspects of the medical bills.

There are several assurance agencies out there that you can use and that the only thing that you need to do is to decide which one suits your needs. However, if you are already working as an employee on a company, then you need not worry about getting an assurance company since most companies hold partnerships with certain assurance companies that can provide healthiness benefits for the employees and their beneficiaries.

However, if you are self-employed, it is important that you choose a company that will give you the best offers in their policies. This means that you have to look for the best company that can provide you with your needs. To do so, you can start by doing comparison shopping to know whether they can help you with discount health insurance to give you the best value for your money.

The thing about getting a healthiness policy is that you are just protecting yourself and your loved ones from the financial dangers of getting sick or getting hospitalized in the future. Why suffer during the rainy days when you can start saving now for tomorrow.

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Two companies that you can use for insurance are Humana and Aetna. Both of them are considered to be top of the line when it comes to health insurance. You will also find that they are the most widely accepted health policy companies in the nation.

The Best of the Best: Humana Insurance

Humana is known for ‘wide coverage’. It is a large company that offers group insurance, mostly through employers. As such, those who avail of health insurance at work are most likely covered by Humana insurance. Humana is also popular because their costs are low and their policies are accepted at most major hospitals.

Establishing a Name for Themselves: Aetna

Aetna is not as well known as Humana in the health care world, although it is up and coming. It is pretty much accepted at most places where Humana is accepted, although there many be a few places where Humana is accepted and Aetna is not. Also, Humana has a host of medical care facilities that give special breaks to people who carry their insurance, Aetna does not. However, whereas Humana is known for group coverage, Aetna is known to offer individual policies that are ideal for self-employed individuals who want health insurance coverage too.

A Question of Choice: HMO v/s PPO

Both policy providers carry PPO and HMO plans, although Humana is currently trying to get away from HMO plans as a whole. PPO plans enable you to use the doctors that are in their network as a source of health coverage. Most health insurance companies today offer either HMO, PPO or general health insurance and Humana and Aetna offer the same. General health insurance covers you wherever you happen to be, even if you are on vacation or in another company. They will usually pay 80 percent of the health care costs and you have to pick up the other 20 percent and have a deductible.

Both Humana and Aetna have health care plans for individuals and businesses that offer this type of insurance. People like this because they do not have to worry about using a special network when they are looking for insurance. They can go wherever they want to get the insurance coverage that they need.

PPO insurance plans allow that the people choose their own doctors, but charge them more if the doctors are out of the network. Many people prefer a PPO because they can use doctors in the network to save money, but still have the luxury of choosing their own doctors. Both Humana and Aetna have plans for PPO.

HMO is when you can only use the doctors in the network of the provider. Both Aetna and Humana are stepping away from this type of plan that has proved to be very unpopular with the public.

You can expect to pay about the same for coverage through Humana or Aetna. Large groups will pay less for coverage of employees than individuals of course.