As defined by the Internal Revenue Service (IRS), a high deductible health plan (HDHP) refers to any plan that has a deductible of at least $1,300 US for self-only or $2,600 US for a family for 2017. While HDHPs have lower monthly premiums, health care costs are charged bigger, before the insurance company begins to […]
By Dez Duran-Lamanilao
People usually purchase annuities, contracts requiring insurers to pay annuitants either right away or in the future. The three basic types of annuities are fixed (with a minimum rate of interest and a fixed amount of periodic payments), variable (owner can direct payments to various investment options), and indexed (features of securities and […]
By Dez Duran-Lamanilao
Individuals go through a myriad of changes as they pass through every stage of life. There are several factors that trigger the need for some kind of security:
Funeral expenses. In the case of seniors or those who are terminally ill, having an insurance that will pay for funeral and memorial expenses will […]
By Dez Duran-Lamanilao
Whether you choose to buy some coverage for your child when you purchase a term life insurance policy or a permanent life insurance policy, there are pros and cons associated with that decision. According to a Forbes article that appeared in January 2016, some of the benefits include:
Death benefits: money for funeral […]
By Dez Duran-Lamanilao
Section 1302(c)(1) of the Public Health Service (PHS) Act section 2707(b), as added by the Affordable Care Act (ACA), sets out a limit for out-of-pocket costs for both self-only and other than self-only coverage. Thus, effective January 1, 2015, non-grandfathered group health plans as well as group health insurance coverage are required to […]
By Dez Duran-Lamanilao
The premium tax credit (subsidy), also known as PTC, is a refundable tax credit in the US paid by the Internal Revenue Service (IRS) to help eligible individuals and families cover the premiums for their health insurance when purchasing insurance through the state or federal Health Insurance Marketplace (also known as the Health […]
By Dez Duran-Lamanilao
Some people find their passion early on or late in life. Upon reaching this state, they begin to formulate an idea, nurture it, and when they think they have what it takes to reach their goal, they venture into the world of business. Some plunge head on with expectation and hope that it […]
By Dez Duran-Lamanilao
Identity (ID) theft, also known as identity fraud, happens when someone or a group of individuals steals your personal information such as name, bank account or credit card numbers, and social security numbers to commit fraud and gather on your behalf the financial or sometimes reputational benefits that come with your identity.
What are […]
By Dez Duran-Lamanilao
The digital age, also known as the information age, computer age, or new media age, has transformed how companies do their business to create value and impact in the products and services they are offering. Within the insurance industry, for example, insurers are exploring various digital tools that they need as they attempt […]