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Thursday, July 30, 2015
Does your life insurance policy pay living benefits?
When life insurance was first designed back in the 1600s it did one thing: The policy would pay benefits to your heirs after your death. This was one way to ensure that if something should happen to you, your family would be protected. Life insurance was especially important for the household breadwinner, usually the husband, because the rest of the family depended upon his ability to work.
But like all things, life insurance has evolved. Did you know that 90 percent of people who have a heart attack survive the crisis? And yet, their health and ability to work might be drastically altered afterward. The same can be said of those who suffer strokes, accidents, and other major health crises.
After a major health crisis, two things almost always happen: Your expenses go up, due to high medical bills and the cost of personal care, and your income goes down because you’re unable to work anymore. Just one illness or serious health crisis can put your family at serious risk of financial problems. In fact, 60 percent of all bankruptcies are directly due to health care expenses and lost income after a major health event.
Luckily, the world of life insurance has changed to help policy owners cope with these drastic circumstances. Nowadays, many life insurance policies offer “living benefits”, which means you can collect your payout if you suffer a critical or chronic illness. A policy which pays out a living benefit can be a financial lifeline if you are ever seriously ill or injured, and need cash benefits right away.
In short, living benefits mean the difference between surviving a health crisis, and having a life afterward. Do you know whether your current life insurance policy includes a living benefits clause? If you have a death-only policy, you might want to think about making sure your family is protected if you suffer a serious health problem. Talk to your insurance professional today, and investigate your options for a new, upgraded life insurance policy.
Friday, July 24, 2015
Wow~ WOW~ Wow!
Earlier today, Anthem Blue Cross and Blue Shield's parent company announced that it has entered into a definitive agreement with Cigna Corporation, under which our parent company will acquire Cigna in a cash and stock transaction. This transaction will accelerate the realization of our vision to be America's valued health partner.
Thursday, July 23, 2015
Supreme Court Strikes Down State Laws Prohibiting Same-Sex Marriage
In a separate decision, the U.S. Supreme Court has ruled thatsame-sex couples may exercise the right to marry in all states. According to the opinion, the United States Constitution requires states to license a marriage between two people of the same sex, and to recognize a marriage between two people of the same sex when their marriage was lawfully licensed and performed out-of-state.
Federal, state, and local agencies are expected to issue guidance on how to proceed. Employers with questions regarding the impact of the ruling on the administration of employee benefits for same-sex couples (or other applicable employment laws) are advised to contact a knowledgeable employment law attorney for specific guidance.
Stay tuned for more information regarding the impact of this decision, and be sure to check for updates in our Employee Benefits and State Laws sections.
Monday, July 20, 2015
Monday, July 13, 2015
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