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2020 is the Year of Vision

Woman selecting eyeglasses in optical storeDo you have 2020 vision? Well technically, this year, everyone has 2020 vision. See what I did there? Ok, no more vision puns. If you don’t offer a vision insurance benefit to your employees, you are missing out on a great opportunity to save your staff money, improve their eye health, and potentially make their overall quality of life better. In return you can get a more loyal, healthier, and productive workforce. Since this year is 2020, it makes it a perfect time for you to open your eyes to the new possibilities you can have with your benefits. That was the last one I promise.

The Basics

Your eyes are two of your most important organs, which is why they need special coverage to promote their health. Vision insurance helps to ensure and motivate people to take care of themselves, the same way health insurance encourages overall health.

There are different plan options with different coverages, so it is important to do your research when deciding what plan is right for you. Do you want your plan to only cover eye exams, contacts, and glasses, or do you want something more comprehensive to also include eye surgery or treatment for certain diseases or issues like glaucoma or retinal detachment?

What You Need to Know

Most vision insurance policies simplify their operation by offering flat rate reimbursements; rather than having to pay a deductible, then pay a percentage until reaching an out of pocket maximum, etc.

It is also important to know that all plans are different, and some may provide coverage for 2 glasses in a year and some may provide coverage for either one pair of glasses or contacts for the year, again do your research.

Don’t Stop at Vision

While implementing vision insurance is a great way to help attract, motivate, and retain employees, there are plenty of other benefits you should investigate offering your workforce in order to have a complete and competitive benefits package. Benefits such as Dental, Short- and Long-Term Disability, Group Life Insurance, and Gap Insurance are common additions to a Group Health Insurance Plan, and often have minimal costs in comparisons to the coverage they can provide. After all, a happy and healthy workforce is the key to any successful business!

MHG Insurance Brokers comprises of a team of experts who specialize in group insurance. We have unique relationships with carriers and are sometimes the first to know the plans they offer. We have a 5-star Google review rating, and an outstanding 96% client retention rate in the Life and Health Division (Employee Benefits). Our team of experts can complete a full analysis of your current plan’s offerings, and if needed, recommend a package that will enrich your benefits while keeping cost at a minimum. If you do not have a group plan in place, we have you covered! Our team can provide a proposal for your group which may be less than you anticipate. If you are interested in purchasing health insurance, feel free to contact us at 954-548-3599 or visit our website at mhginsurance.com.

If you don’t offer a vision insurance benefit to your employees, you are missing out on a great opportunity to save your staff money, improve their eye health, and potentially make their overall quality of life better.

Ready to go! Close up cropped low angle photo of shoe of female athlete on the starting line of a stadium track, preparing for a run. Sunny spring dayYou know the saying, “New year, new me!” Well it’s that time of the year, everything is fresh, people are motivated, and many of you have just begun a new benefit year in terms of your insurance as well. So why not take some time to figure out how to make the most out of your insurance benefits, the same way you would try to make the most out the year when it comes to vacations, starting new habits, or even just trying new things. Here are some tips to follow to better help you start your benefit year off right. Keep in mind the tips below are only for those times when seeing a medical professional can be planned in advance, if you are sick or in need of medical attention, please consult your physician immediately.

Read Your Policy

Reading your insurance policy may not be your first priority, but without reviewing your benefits, you might be missing covered benefits you can take advantage of. A big one is knowing the doctors in your network, depending on your coverage, some providers might be categorized in a special group which allows you to pay less. Check if you have dental and vision insurance and what is covered, there can be some benefits that are completely free of charge to you, even covering multiple visits throughout the year.

Do You Have a Rewards Program?

Most health insurance companies now offer a rewards program to help motivate people to live a healthy lifestyle. Get yourself involved as soon as you can so you can start earning rewards for things you do every day like walking, logging meals, weighing yourself, etc. Also, these programs can offer points for visiting the doctor, getting your teeth cleaned, getting a flu shot, and taking other preventable measures.

Plan Your Year

As stated before, once you understand your insurance coverage, you will have a better understanding of how to plan your year. Yes, you should always expect the unexpected, no one plans to catch a cold, but by understanding your benefits you can use providers that will cost you less. When it comes to making doctors’ appointments, your benefit year should be taken into consideration. For example, if you are in need of a procedure that is medically necessary but you have been putting it off, would it make more sense to have it when the year is fresh, or when you have reached closer to your max out of pocket, typically later in the year? Sometimes timing can be important and can be the difference from having to pay thousands versus having to pay nothing.

Avoid the Mad Dash

I don’t know if you have ever been to a medical facility at the end of the year, but more than likely they are slammed with people trying to use the last bit of insurance before the new year starts. By planning your year ahead, you can do what you can to try and avoid the headache of having to wait hours, or deal with nurses and doctors who are understaffed or stretched too thin. Most medical plans now include telemedicine which can be used in the convenience of your home using a smart device, if you need a prescription the telemedicine doctor will prescribe what you need at the pharmacy of your choice. In some cases, telemedicine can be free.

MHG Insurance Brokers comprises of a team of experts who specialize in group insurance. We have unique relationships with carriers and are sometimes the first to know the plans they offer. We have a 5-star Google review rating, and an outstanding 96% client retention rate in the Life and Health Division (Employee Benefits). Our team of experts can complete a full analysis of your current plan’s offerings, and if needed, recommend a package that will enrich your benefits while keeping cost at a minimum. If you do not have a group plan in place, we have you covered! Our team can provide a proposal for your group which may be less than you anticipate. If you are interested in purchasing health insurance, feel free to contact us at 954-548-3599 or visit our website at mhginsurance.com.

Here are some tips to follow to better help you start your benefit year off right.

Buying Insurance 101

Young couple shaking hands with a female agentBuying insurance, no matter what type, can be an intimidating and daunting task. For one, there is a ton of tricky lingo, a plethora of different coverages amounts and types, and of course the cost. Unless you are someone who works in the insurance industry, chances are insurance lingo can sometimes sound like a different language, and confusing protocol leaving you wondering what to do next.

However, it doesn’t have to be this way! Follow these 5 easy steps when making any insurance purchasing decision to help ease your mind and make the process as smooth and simple as possible.

What am I trying to protect?

When buying insurance, the first thing you need to ask yourself is “What am I trying to protect?” Are you trying to protect your business? Your health? Your kids? Your assets?

Once you have the answer to that question it will narrow down what you should be looking for. For insurance, If you wanted to protect your business, you would want to consider a General Liability policy, or Marine General Liability depending on the business. Protecting your kids? Look into life insurance.

What is my budget?

Once you know what type of insurance product you are in the market for, next you need to figure out your budget. After all, you don’t want to lapse your policy because you can’t afford it down the line if things become tight down the road, so be smart. Depending on your situation and what you are trying to insure, sit down and figure out what you can realistically afford, and what level of priority is the type of insurance you need.

Who do I know?

One thing that can make the decision easier is to figure out if you know anyone that currently has what are looking to get. If you do, ask them about it. What are the pros and cons? Is there anything they would do differently? Is there anything you need to look out for?

What don’t I know?

As with anything you buy, you should always do your own research. Figure out what products are out there, what pitfalls there are, and anything else that will help you get the best out of what you are buying.

Seek out a reputable broker!

Insurance Brokers often get a bad reputation but using a broker can help you avoid situations like this. For one, the majority of brokers are well-versed with the ins and outs of the insurance industry and can help you avoid a negative trend that you may otherwise know nothing about. Not to mention, brokers work for you! Brokers typically operate at no extra cost to you as it would be if you went straight to the insurance company to get your plan. If you would like to learn more details of using an insurance broker, read our previous blog, “Why You Should Use an Insurance Broker”.

Having proper insurance is important whether you are looking to protect your business, your loved ones, or yourself! Our insurance specialists have the knowledge and experience to find the type of insurance you are in search of, and policy that works best for you and your budget. If you are interested in purchasing, or have any questions about marine crew insurance, life & health insurance, travel insurance, expatriate insurance, property & casualty insurance, or ocean marine insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Follow these 5 easy steps when making any insurance purchasing decision to help ease your mind and make the process as smooth and simple as possible.

Shot of a couple looking stressed out while working on their finances at homeThe promise of an amazing benefit is great, but what happens when you try to use that benefit and experience resistance? That seems to be happening more and more when it comes to low-cost insurance plans. When buying insurance, a person is buying an intangible promise. With that mindset, one can see why low-cost insurance is rarely ever low-cost.

Can’t Have Good, Quick, and Cheap

Ever hear the saying you can’t have your cake and eat it to? Typically, with anything in life, you get what you pay for. Consumers are constantly trying to save money any way they can on products or services they buy. However, depending on the product or service, a good “deal” can quickly turn into an absolute nightmare. Low-cost insurance plans are no different. Consumers can expect to receive delayed quotes, slow service, claims issues, and that’s just the tip of the iceberg.

You’ll Pay for It Later

Saving money on premium doesn’t always mean that you’re saving money overall! Many times, those who opt for cheaper insurance end up paying more in the long run because of a lack of coverage that was unknown to them when trying to use their insurance, or even worse, no coverage at all. Imagine being involved in an emergency situation that ends up with you being in the hospital, the last thing you want to be worrying about in that moment is being stuck with the entire hospital bill which could end up being tens of thousands of dollars.

Possibility of No Service

One trend that has popped up as of late are insurance companies offering cheap plans to grow their business. However, businesses can’t afford to continue to operate on low margins, so the customers are the ones who end up suffering. Having a plan with great benefits, but no service when actually trying to use it results in disappointment for the consumer.

Consumers vs. Insurance Companies

Insurance companies are usually very large, so going toe to toe with one is no easy task if you have a dispute with the plan that you have purchased. Even if the consumer is completely in the right about a particular claim or situation, the costs and time involved can be substantial. It is for this reason that you really need to do your research and choose the best plan for your needs, not just the cheapest.

Use a Broker!

Insurance Brokers often get a bad reputation but using a broker can help you avoid situations like this. For one, the majority of brokers are well-versed with the ins and outs of the insurance industry and can help you avoid a negative trend that you may otherwise know nothing about. Not to mention, brokers work for you! Brokers typically operate at no extra cost to you as it would be if you went straight to the insurance company to get your plan. If you would like to learn more details of using an insurance broker, read our previous blog, “Why You Should Use an Insurance Broker”.

Having proper insurance is important in every aspect of life. Whether you are at sea needing international coverage, looking for proper life insurance coverage, going on a vacation, etc. MHG is your specialized broker. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about marine crew insurance, travel insurance, U.S. life and health, expatriate insurance, or property and casualty, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

When buying insurance, a person is buying an intangible promise. With that mindset, one can see why low-cost insurance is rarely ever low-cost.

tourist in luxury beach hotel near luxurious swimming pool at sunset, tropical exotic holidays vacation, tourism and travelMany people don’t consider buying a life insurance policy until a major life event such as getting married, buying a house, having a kid. While all of those are great reasons to purchase a life insurance policy, you should actually have a policy before any of those things happen. Yes, even if you’re single, with no dependents or assets to your name. 

1. Investment

One reason to get a life insurance policy when you are single is because it can be used as a long-term investment. Purchasing a Whole Life insurance policy can give you many options on what to do, such as being able to withdraw from the cash value of your policy much like a bank loan. Also, depending on the whole life policy you purchase, it can act as a savings vehicle. So, after a certain amount of time, your cash value will be higher than the amount you have paid, depending on where it has been invested. 

2. Funeral

Here’s a question that many may not want to ask or try to answer. Who is going to pay for your funeral? Funerals are expensive, and unfortunately, it is an expense that many don’t prepare for. Having life insurance that will include your funeral costs into the amount of your policy is a very smart thing to do. Caskets themselves can be thousands of dollars, and funeral total costs can easily exceed $20,000. 

3. Personal debts

If you should pass, who is going to pay for your debts? When you die, if you have any co-signed loans, the full responsibility of paying off the loan will be left to the person who co-signed that loan with you. Which in many cases could be your parents, spouse, kids, etc. It may be tough on them to worry about their debts and in the event of a tragedy all of a sudden have to worry about your debts as well, all while still mourning your loss. Having a life insurance policy can be used to pay off your medical bills, mortgage, credit cards, etc. 

4. Leave a legacy

It can be a good idea to purchase life insurance in order to leave a legacy. For example, if you are passionate about a charity, church, or group, you can leave them as the beneficiary of your policy, which I’m sure they will greatly appreciate and never forget. Also, you can do this if there is someone close to you that you would like to help out. Maybe a friend who is struggling and would refuse to accept any help from you. 

5. Cheaper to get a policy when you are young

If you plan on getting life insurance later in life or waiting until a life event such as the ones stated before, it may make more sense to go ahead and purchase a policy now. Waiting for one of these events can take years and years, and by the time you go to purchase a policy, the premium could be as much as two times as high as if you would purchase it now. That is because the younger you are, the less expensive the premium is, because you are not viewed as a high risk. Also, another great thing is that your premium should be locked in at that price for the length of the term or for your life depending on the type of policy you get. So, in essence, you could be saving yourself money in the long run, by spending a little extra now. 

If you are interested in purchasing life insurance, or have any questions about your policy, or which policy would be best for you and your family, contact us at 954-828-1819 or visit us online at mhginsurance.com. We have the insurance specialists to assist and advise you on the best coverage for you and your loved ones at every stage of life.

Yes, even if you’re single, with no dependents or assets to your name, you should still have a life insurance policy. Read more.

Shot of a newlywed couple looking out the window of a car and wavinghttp://195.154.178.81/DATA/i_collage/pu/shoots/784347.jpg“If there are any objections, speak now or forever hold your peace.”

“Wait they don’t have life insurance!”

Hopefully you don’t find yourself in this situation, and you already have a good life insurance policy in place. However, if you don’t have life insurance, it’s something you need to start thinking about it. After the honeymoon of course! Who knows, maybe you will say I do again... to life insurance. See what I did there? 

Protect Your Spouse

Unfortunately, death is a part of life that we all have to experience and plan for. Not all marriages are like “The Notebook” where you and your partner live into your golden years and pass away together in each other’s arms. Life insurance is designed with your loved ones in mind and plays an important role in your overall financial planning. If you have anyone depending upon you financially, you probably need Life Insurance even if you are young and healthy. For most, this financial responsibility begins when they either get married or have a baby. Have you thought how your family, or those you care about, would manage without you financially? The grieving process is hard enough, don’t let your better half also have to worry about how they will pay the bills or be able to afford the mortgage. In the event of your untimely death, you want to be reassured that your husband or wife will be financially secure in the event of your passing.

Invest in Your Future Together

Did you know that life insurance has other benefits besides providing a benefit to your beneficiaries? Certain policies such as a Whole Life policy can act as a way to save and invest money. In most cases, a Whole Life policy has a “cash value” that is invested and can earn as high as 5% interest. The cash value is calculated based on how much money you have paid so far in premiums, and after a certain amount of time, your cash value could be worth more than you have paid! Also, with a Whole Life policy, after a certain amount of time, you can cancel the policy and get back all of the money you have paid so far, and then some!

Lower Premium

Getting married, buying a house and having baby are life events that prompt us to buy life insurance but it’s really something you should be considering even if you have no assets or dependents. Did you know that in most life insurance policies, you have the same monthly premium for the duration of the policy? That means if you’re paying $50 a month, you will be paying the same amount for the life of the policy. Unless you increase your coverage, you are locked in to a set premium. This is important because as you get older, policies become more expensive. Typically, you can expect your premium to double every 10 years. Good enough reason to stop putting off purchasing a life insurance plan, right?

For more information regarding what life insurance options are available to you, read our previous blog, What Are My Life Insurance Options? If you are interested in purchasing life insurance, or have any questions, we’re here to help! Please contact us today at 954 828 1819 or visit mhginsurance.com. Congratulations and cheers to many years of wedded bliss!

After saying I do, consider investing in your future and protecting your spouse and future family with a life insurance policy. Read more!

514295221Do you have Life Insurance? Do you ever wonder what will happen to your family if anything ever happens to you? If you do have Life Insurance, you don’t need to ask yourself questions like that. The problem is not everyone has life insurance. Many don’t even see it as an option because they think it is too expensive or too cumbersome. However, that isn’t always the case. There are plenty of ways to secure your family without going broke.  

What are my Options?

There are two types of Life Insurance, Temporary and Permanent. Temporary Life Insurance covers you for a period of time such as 5 years, 10 years, etc. If you should pass away within the term, your beneficiary will receive the death benefit. Permanent Life Insurance covers you for your entire life. So, no matter when you should pass away, your beneficiary will receive the death benefit. Also, for either type of life insurance, the death benefit will pass to your beneficiaries, income tax free.

Permanent Life Insurance

Permanent Life Insurance covers you for your whole life. You should purchase Permanent Life Insurance if you have a life-long dependent or have an estate or business to protect. In some permanent plans, your money may collect in an account, and after a number of years, you may be able withdraw money, borrow cash, or surrender the policy and receive the surrendering value.

Temporary Life Insurance                        

Temporary Life Insurance, also known as Term Life Insurance, is a good option if you would like to have coverage for a certain period of time. On some temporary plans, you can be approved without a medical exam and in just a few days. Usually an individual will have this coverage during the most vulnerable time of their life. For instance, until the kids are grown and graduated from college, or your house has been paid off. The premiums are lower than the premiums of a permanent life insurance plan. One downfall of this type of plan is that it does not pay a death benefit if you outlive the term of the policy. You may be able to renew your plan once it expires, but your premiums will be substantially higher. There is another type of temporary insurance that refunds your money at the end, if you outlive the term of the plan. This is called a Return of Premium policy and may be a good option to consider.

Not Going Broke

“So how do I purchase Life Insurance without going broke?” First off, there are a number of factors to determine which plan is right for you and which plan you can afford. But in general terms, the route to go would be purchasing a Temporary Life Insurance policy. As stated before, the premiums are less than those of a permanent policy, and your family or dependents will also be protected during the length of the term.

Not for Everyone         

Buying Life Insurance is not for everyone. There may be no need to purchase it if you don’t have any dependents and have enough assets to cover your debt and the cost of dying. Death can very expensive, having to pay for the funeral, estate lawyer’s fees, etc. So, if you are unsure about the need to purchase a Life Insurance Plan, or would like to purchase one, please contact us. We would be happy to assist you with all of your questions and concerns.

Call MHG Insurance Brokers today at 954-828-1819 or visit us online at mhginsurance.com for help in selecting Life Insurance and other coverage to ensure you and your loved ones have the protection you need at every stage of life.

Are you looking for a life insurance policy to cover your loved one? Here are some options.

Happy family with cardboard boxes in new house at moving day.Are you in the market for a new home? If so, there are some important things you should be doing to prepare yourself, before and after your purchase. First and foremost, buying a home is one of life’s greatest financial accomplishments. Getting approved for a mortgage is a daunting task, and those 30-40 days of the approval process can feel like a lifetime. However, once you sign those closing documents, you feel a sense of pride and joy that you were able to whether the storm, and now you can start this next chapter of your life as a homeowner! Now, just because you are done with the paper work, doesn’t mean you shouldn’t be thinking of steps you need to take in order to protect your investment. Life insurance can do just that and provide all of the coverage you need given your newly acquired asset.

Before Buying a Home

Purchasing a home is a major life decision, one that comes with an enormous amount of planning, budgeting, saving, and often forcing one to make lifestyle changes in order to be able to complete the action. If you aren’t required to have a lump sum of money to use as a down payment, count your blessings. However, no matter what route you go, it will be a challenge if you don’t have a good credit score.

Once you have your strategy in place in terms of the type of loan you are going to use, the down payment amount, and a good enough credit score, the fun part will begin. Ask anyone who has gone through the process of getting approved, and many will agree it is one of the more stressful experiences someone can experience.

After Buying a Home

So, you’ve made it to the finish line, you are officially a homeowner! Now what to do? Before you start to think about investing into your property, fixing the kitchen or adding a pool, you need to think about investing in yourself and your loved ones. You’ve just gone through an extensive process and have probably taken on an extreme amount of debt. What happens to that debt or the responsibility of paying it off if something happens to you?

A life insurance policy is a critical necessity for anyone who has debts they do not want to leave to their loved ones. Do yourself and your family a favor and protect your new investment. For example, if you just bought a house with a 30-year mortgage that was $250,000, for starters you may want to consider a 30-year term life insurance policy with a $250,000 benefit.

Preparing for the Future

The strategy of protecting your investments and assets with life insurance is something that you should be using in every facet of your life, not just when buying a home. Especially if you have a family or dependents. If you are not sure the amount you need, the type of policy to get, or what you can afford, our insurance specialists are here to help!

MHG is here to assist you and offer any advice and help we can in this exciting time in your life. If you are interested in purchasing health insurance, life insurance, or have any questions please contact us today at 954 828 1819 or visit mhginsurance.com. We have the insurance specialists to guide and assist you in finding the best insurance options for you, your family, and loved ones.

Are you in the market for a new home? If so, there are some important things you should be doing to prepare yourself, before and after your purchase!

Shot of a team of colleagues celebrating with a high five in a modern officeLet’s face it group insurance plan comes at a price, and there is a reason many smaller businesses with less than 50 employees elect not to offer a group plan since it is not required. However, not having a plan in place immediately makes your business less competitive when it comes to attracting the best talent to help you succeed. So, what if I told you that there are several options out there that can help you save money when it comes to offering your employees insurance benefits?

Fully-Insured vs. Self-Insured/Level Funded

Most groups with less than 100 employees are covered through Fully-Insured plans as it is the most traditional method of coverage. The premium paid to the insurance carrier is a fixed rate for the year based on the number of employees enrolled. The carrier is responsible for paying all claims while the covered member is responsible for paying copays, coinsurance and deductibles based on the plan benefits. Fully-Insured rates are based on the demographic make of the group (census), changes to that census, comparative rates within a geographic area and industry, and to a smaller degree the claims experience of the members. Any group with 2 or more employees will qualify for Fully-Insured plans (Groups with two employees cannot be a married couple).

Level Funded plan options are becoming increasingly common as more carriers are offering them, and more employers are seeing the advantages. Let’s be clear, not all groups qualify; acceptance is mainly based on the employees’ medical claims history, and carriers require a minimum participation higher than Fully-Insured. Level Funded plans are filed with the Department of Financial Services as “Self-Funded”. A true Self-Funded plan has an arrangement where the employer provides health care to the employees using the company’s own funds. Level Funded follows the same concept, but there is a stop loss in place for each employee on the plan to prevent any liability for the employer. A portion of the premium paid on a Level Funded plan is saved in a funding “pool” which is used to pay claims. After an employee uses a certain amount of the claims fund (amount varies depending on the carrier) stop loss kicks in and the carrier takes over the payment of claims for that employee for the remainder of the year removing that exposure from the employer’s remaining funding pool.

What Are the Advantages of Level Funded?

On average a business spends 7% to 9% of its budget on employee health care. If your group qualifies for Level Funded plans, it is possible that the rates may be better than Fully-Insured when comparing similar plan options. Yes, you can get money back at the end of the year! Carriers typically offer the group a specified percentage of the unused amount left from your funding pool at the end of the year. The reimbursement percentage varies depending on the carrier, and in some instances can be as much as 94%, which can be a significant amount. Carriers may also include additional features on a Level Funded plan not included on Fully-Insured options.

Are There Any Shortfalls on a Level Funded Plan?

Level Funded plans follow the federal mandate as it relates to continuation of coverage. Groups with 20 or more employees will be eligible for federal COBRA. Most Level Funded plans will not administer State Continuation (mini COBRA) for employers with less than 20 employees, this means these employees will not be eligible to continue coverage upon leaving employment.

Another area that may affect some employees is dependent coverage. In some states, such as Florida, Fully-Insured plans will allow dependent children to be covered up to age 30, while Level Funded plans will remove dependent children at age 26, which is the federal mandate. In addition, some benefits offered on Fully-Insured may not be offered on Level Funded.

What Option Is Best for Me?

MHG Insurance Brokers comprises of a team of experts who specialize in group insurance. We have unique relationships with carriers and are sometimes the first to know the plans they offer. We have a 5-star Google review rating, and an outstanding 96% client retention rate in the Life and Health Division (Employee Benefits). Our team of experts can complete a full analysis of your current plan’s offerings, and if needed, recommend a package that will enrich your benefits while keeping cost at a minimum. If you do not have a group plan in place, we have you covered! Our team can provide a proposal for your group which may be less than you anticipate. If you are interested in purchasing health insurance, feel free to contact us at 954-548-3599 or visit our website at mhginsurance.com.

What if I told you that there are several options out there that can help you save money when it comes to offering your employees insurance benefits? Read more!

Bills of euro, dollar and pound currencies, among others.Having life insurance should be a priority for everyone!

Life Insurance can be a topic that is difficult to plan for, and may be something you don’t want to think about. However, no matter what stage you are at in life, it should be a priority. If you are a young person just starting your career, now is the time to purchase a policy so you can lock in a lower premium. If you are a bit more established with children, what will happen to them if something happens to you? If you are about to retire and move to your dream house in the tropics, how will your spouse pay for the mortgage if the unexpected happens?

Questions to Ask Yourself

When purchasing a life insurance policy there are a plethora of things to consider; such as the amount of the benefit, the beneficiaries, and what actions are actually covered. One thing that may be assumed is that the coverage will be provided no matter where you are in the world. However, that is not always the case. For the most part, life insurance policies only provide coverage in the country they are purchased.

When purchasing life insurance, you should ask yourself questions such as:

· “How much coverage do I need?”

· “How long do I need coverage for?”

· “What type of policy should I purchase?”

· Who should be my beneficiary?”

Many people don’t think to ask themselves:

· “Do I have international coverage?”

· “Do I need international coverage?”

That latter set of questions can be crucial if you are a person who travels a lot. Retirees traveling the world, yacht crew, and cruise ship workers are just a few of the people who may need international coverage. Typically, if you are in a foreign country for 3 or more months, your life insurance will not offer the coverage if something were to happen to you. So if you are a world traveler, or hope to move to a foreign country one day, or are an expat who looks to settle down back home when you are done with your career abroad, it may be smart to look at your policy and see if you are covered.

MHG Can Help!

If being away from home for long periods of time applies to you, then international life insurance should be a priority. Deciding if you need the extra coverage is the easy part, now comes what type of policy is right for you!

A large number of our clients work internationally, and could greatly benefit from having an international life insurance policy. In fact, many of our employees are expats themselves, and have personal and professional experience that can be used to assist you. It should also be noted that the price for international coverage policies are usually comparable to those that don’t have international coverage.

There are many things to take into consideration when making the decision of which type of policy is best for you, your family, or loved ones. For help trying to figure out which policy is best for you, read our previous blog, “What Are My Life Insurance Options?” Are you interested in purchasing Life Insurance or International Life Insurance? Would you like some more information regarding Life Insurance options that are available to you? Would you like to ask some questions to a Life Insurance expert? If the answer to any of these questions is yes, please contact us 954-828-1819 or visit us online at mhginsurance.com and talk to one of our insurance specialists for help in selecting Life Insurance and other coverage to ensure that you and your loved ones have the protection you need at every stage of life.

Life Insurance can be a topic that is difficult to plan for, and may be something you don’t want to think about. Read more!