Health Insurance Basics Colorado CO
Reader’s Question:
I work as an account executive for a gadget store here in Colorado. I want to learn about health insurance. What are the things I should consider when looking for a health insurance?
Seymour
Arvada, CO
Basically, a health insurance is very similar to a life insurance except that its coverage applies only to disability and serious illnesses, especially those needing long-term nursing care. Usually, individuals who are employed have coverage sponsored by their companies, but since there is growing demand for this type of insurance, health insurance is now also readily available directly to individuals, similar a life insurance policy.
Like a life insurance policy, a health insurance policy is also a contract between an individual and an insurance company. Health insurance contracts are renewable monthly or annually, depending on what suits your budget. Like claiming for damages in an auto insurance policy, health insurance also requires policyholders to pay deductibles, which is your share that you need to pay first before the health insurance provider pays for the rest.
Also, copayments are required to be paid first before the health insurance company shells out anything in case you are going for visit to the doctor for a checkup or for obtaining a prescription. Copayments are mandatory every time a trip to the doctor is made.
Take note of your coverage limits. Any amount exceeding your coverage limit will have to come out of your own pocket. Other things to consider are exclusions, meaning some treatments will not covered, and thus you have to pay them entirely from your own pockets. And there is also what we call capitation, an amount you will have to pay for treatment for all members covered in your plan.
Seymour, you might already have health insurance coverage from your company, but I won’t stop you if you want more. Give your health insurance agent in Colorado a call for an appointment soon.
Tags: Health Care, health insurance
Important Life Insurance Questions Colorado CO
Reader’s Question:
What kind of questions should I be asking a life insurance company here in Colorado to make sure I’m dealing with a credible company?
Stanley
Aurora, CO
Good question. Life insurance is a long-term financial commitment and everyone would want to make sure that they get the benefits and peace of mind knowing they choose the right provider for their needs. Before you speak with a life insurance broker or representative there in Colorado do some research first over the Internet and get rate comparisons to make sure that you have a good idea of available rates and identify if someone is asking you to pay too much.
Here are a few questions a prospective life insurance customer should ask an agent, broker or representative:
” Can you provide proof that you or your company is licensed to sell life insurance in Colorado? These days you can never really be too careful about fly-by-night companies. Your state department of insurance can also provide you this information.
” How long has the company been in business? How is its financial standing? If you are dealing with a broker ask how long they have been selling life insurance so that you get a good idea if the person is experienced and have a bigger chance of getting you better rates.
You could also visit forums Online regarding life insurance or try doing a search engine inquiry on the life insurance provider you are looking into. Most of the time you would get customer feedback that would give you a good idea how well the company treats its customers.
Tags: life insurance questions, life insurance company, advise, life insurance
Why Women Get Cheaper Auto Insurance Premiums Colorado CO
Reader’s Question:
Can somebody tell me why women get lower auto insurance premium rates than men. I’m from Colorado, in case that matters.
Barry
Lakewood, CO
This has a lot to do with risk factor, and not because you live in Colorado. We know that the auto insurance company’s perception of your risk factor is what affects your auto insurance premium rates. Auto insurance companies have relied largely on statistics to come up with your auto insurance premium. Studies have shown that women are more careful drivers than men. No use fighting that, they have the figures to support that. Women are safer drivers, therefore their risk factor is lower than men. Majority of road accidents and instances of dangerous driving involve men. Men are more uncontrolled when on the road, it would seem. Studies also show that women don’t like to drive around so much. If they don’t drive around as much as men do, the probability of getting in an accident is lessened. Again, this is good for their risk factor. And if ever women get involved in road accidents, their injuries are not usually as serious as when men are involved.
We men can actually make this work in our advantage. If you and your wife, assuming you’re married, drive the same car, and you drive the car around as often as she does, then you might as well declare her as the primary driver of the car.
Tags: auto insurance premium, Female Car Insurance, women car insurance
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