Only rarely will someone in Michigan pay nothing for their medical care, even with insurance. Though private health insurance can greatly reduce an individual’s out-of-pocket responsibility for care, it almost never makes health care entirely free. Whenever you go to the doctor or use your health insurance, you can reasonably expect to pay a cost. Based on the care you need and the coverage you have, these costs may vary. 1. Premiums Your premium is the amount you pay your insurance com...

When you buy life insurance, you invest in a policy that will offer your loved ones financial help after your death. However, while you remain alive, you will have to pay for your coverage. Still, depending on multiple factors, your precise premium cost will vary. What are some of these influencing factors?   Understanding Life Insurance Premiums   In insurance terms, a policyholder’s risks are the likelihood they have of filing a claim on a policy. When they make...

When applying for life insurance, you will be asked to provide information about your medical history and take a physical examination.   If you are not completely truthful about your medical history, you may lose your policy or, when you die, your dependents may be denied benefits. Therefore, it is imperative that you tell the truth throughout this process.   In regards to the examination process, a medical professional hired by the insurance company will typically cond...

With so many insurance providers offering so many types of life insurance policies, it’s no surprise that rumors spread. Many people think life insurance is too expensive or that its coverage is too limited. The best way to bust all of the myths is to talk to an agent who can walk you through the policies that meet your needs; but in the meantime, here are three busted myths about life insurance that may help you when it comes time for making coverage decisions.  Myth #1: Empty nes...