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869641322Do you ever find yourself too busy to exercise? Is working a full time job making it difficult for you to find the time to stay active?

Working a full time job is one way to keep someone busy. Trying to find time for yourself, or time to work out can be quite a challenge. After all, spending the majority of your day at work and battling rush hour can take a lot of energy. Yet, there still is no excuse for taking care of yourself. Living a healthy lifestyle is important, and sometimes it can feel like work gets in the way of that. So if you find yourself willing to try something new in order to stay active while working full time, follow some of these great tips!

1. Get Up Early

Waking up early can be a drag if you aren't a morning person. Hitting the "snooze" button is almost unavoidable. While it may take some will power and extra motivation, getting up earlier to work out can have an amazing impact on your day. For one, exercising in the morning is a great way to start the day, get your blood pumping, and give you that feeling like you are ready to take on the world. You will even find that by working out in the morning that you may be sharper throughout the day.

2. Ride Your Bike or Walk to Work

One fun way to try and stay active is to walk or ride your bike to work. While this option may not work for everyone, those that live in close proximity to their job should give it a try. Enjoy the scenery, get some fresh air, and have some time to clear your mind before starting your day at the office. The best part is that you will be saving money on gas!

3. Take Periodic Walks

While on the job, you want to be productive as you possibly can. So taking a long walk might be a bad idea. However, try breaking that long walk into shorter ones throughout the entire day. Use a bathroom break to walk around the building for a few minutes. Doing this every couple of hours will add up, and by the end of the day you might be surprised how much you have walked. Try wearing a pedometer to help keep track of your steps and help you reach any daily goals you might have.

4. Join a Gym Close to Work

If you work close to a gym, consider getting a gym membership there. You can go for a work out on the way in or just after you get off. Waiting until you get home to exercise is another option, but after having along day on the job and having to battle through rush hour can leave you feeling exhausted by the time you get home.

5. Use Your Lunch Break

Going on your lunch break is one of everyone's favorite parts of the day. If you plan on eating at nearby restaurant or are picking up food to take back, try walking instead of driving. Or if you joined a nearby gym, try going there during your lunch break to save time. Just be sure to shower before heading back to the office, no one wants to sit next to the sweaty person.

Here at MHG Insurance Brokers, we look forward to sharing tips and information with you that may help keep your stress levels down, and your quality of life up! Whether you are purchasing health insurance for the first time or already have a plan in place, or are simply looking for better coverage, we want to help you find an affordable health plan that works for you. Please feel free to contact us here by calling 954-828-1819, or visiting mhginsurance.com!

Do you ever find yourself too busy to exercise? Is working a full time job making it difficult for you to find the time to stay active? Read more!

818435778It’s getting to be that time of the year! That time where everyone looks back on the past year and makes changes for the upcoming one. Whether it is taxes, budgets, even weight loss, the motto is “out with the old, in with the new!” However, you may have not originally thought to review your life insurance policy. It’s always a good idea to review any insurance policy periodically, but the end of the year brings a perfect time to look at your current policy and see if it still offers the coverage you need.

Do You Have New Dependents or Family Members?

A lot can change over the course of a year, especially when it comes to relationships and families. Did you get married? Did you have children? Do you have new dependents in your life that may need to be made a beneficiary of your life insurance policy? These are all questions you should ask yourself when reviewing your policy. Also, maybe you need to increase the overall value of the policy to account for new dependents.

Did You Have Any New Major Purchases or New Debts?

Many times, people decide on the value of their life insurance policy based on their outstanding debt. For example, if you have a mortgage of $200,000, it would be smart to include $200,000 in your calculation for your life insurance to cover the cost of the house if something were to happen to you. Purchases such as buying a house, buying a car, starting a business are all ways to increase your debt, and should be taken into consideration when deciding the value of your policy.

Did Something Change at Your Job?

There are scenarios of changes at the workplace that should give you a reason to review your life insurance policy. One is if you were to start a new job. There is a chance that your job offers employee sponsored life insurance based on your salary. This is a great benefit to have, so take the amount of coverage provided into consideration if you are purchasing a policy.

If you didn't start a new job, there are still changes that may have occurred over the past year that warrant a policy review. Getting a raise may give you more expendable income to increase your policy value. Also, if you received a promotion, there may be changes to the benefits provided to you such as the value of your life insurance policy.

Did You Move?

Moving always seems to bring more changes to someone's life than they originally expected. If you moved to a foreign country, there is a strong possibility that your life insurance coverage didn't follow you to your new home. Many life insurance policies are only covered in the country of purchase. However, it should be noted that there are several options for international life insurance coverage. If you would like more information on international life insurance, read our previous blog "Does Your Life Insurance Cover You Outside You Home Country?".

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.

It’s always a good idea to review any insurance policy periodically, but the end of the year brings a perfect time to look at your current policy and see if it still offers the coverage you need.

Hipster businessman with laptopHave you ever found yourself in a situation where your health insurance refuses to cover a certain medical bill that you thought would be covered? Bills such as visits to a provider who was once in your network, and without notice was removed from the network is a prime example. Sometimes mistakes are made, and just because your insurance carrier denies your claim, doesn’t always mean that you will be left to foot the bill. There are steps that you can use to take action and try to ensure that you will receive the coverage that you have been paying for. By filing an appeal or disputing a health insurance claim, you can hopefully change the outcome.

Internal Appeal vs. External Appeal

There are different types of appeals processes. You can use an internal appeal where your insurance company will review the case and make the decision. If the internal appeal process does not work you can use an external appeal where an independent third party will review and then have the power to make the decision, meaning the insurance company will not have the final say.

Ask for Help!

We are here to help you! Being insurance brokers, we work for you, not the insurance company. We protect you best interest and help you in any way we can. Many times, we have the relationships built, know the loopholes, and have past cases that are similar that we can use to help get a favorable response.

Don’t Take No for an Answer

Sometimes, the insurance company’s representative on the phone is simply following their basic protocol. The agent may not have the authority to make decisions beyond there guidelines, so ask for their supervisor. If the supervisor doesn’t give you a positive answer, ask for the department that can escalate your case for review.

Reach Out to Contacts

We reach out to contacts at your insurance carrier. Sometimes, relationships can help you get the answer you want to hear or point you in the right direction. Also, our relationships with people at the insurance company may benefit you in the form of exceptions for your case. Some of our contacts have that authority. Remember, sometimes it’s who you know! If that’s not enough, we ask about filing an appeal. Identifying similar cases may help in finding a loop hole or scenario that you can benefit from. This can determine the likelihood of getting an approved appeal.

Be Patient

Disputing a health insurance claim is a lengthy process. It can take up to 90 days to conduct the appeal, so patience is a virtue.

Prevention

The best way to avoid disputing a claim is to read your policy and the updates that are sent to you. Do your research and learn exactly what you have coverage for, who is in your network, etc. If your doctor recommends a procedure, you will be better prepared to ask questions.

Sometimes there are things in your plan that you don’t understand, or words that you have never heard before. For help with tricky health insurance lingo, read our previous blog, “Health Insurance Terms 101.” If you are interested in purchasing health insurance, or have any questions about your plan, or which plan 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.

Have you ever found yourself in a situation where your health insurance refuses to cover a certain medical bill that you thought would be covered?

657826254Purchasing a Life Insurance policy isn’t something you do every day. The benefits and coverage it can provide for you and your loved ones in the event of a loss is irreplaceable, but with that being said, who wants to plan their “death.” We know this is a very sensitive subject, so we took the time to clear the air of some myths that we have heard about whole life insurance. Since purchasing life insurance can be a little unsettling, we wanted to make sure you are prepared and know exactly what you are getting yourself into, in order for you to make the best decision for you. So here are 5 myths that are associated with Whole Life Insurance.

1. Whole Life is too expensive!

Yes, a whole life premium is considerably more money than that of a term life insurance premium, depending on the value of the policy. However, there are some things to take into account. With term life insurance, you will not accumulate any value, once the term ends, you own nothing. As opposed to a whole life insurance policy, where your premiums will build a cash value that will belong to you at the end of the policy.
Also, another thing to consider is the total cost of a policy over your lifetime. Term is not designed to cover you for life, so when your term expires and you would like to purchase more coverage, the cost will increase. When putting the two types of policies together to compare, whole life is substantially less costly than a life time of premiums for term life insurance.

2. Only your beneficiaries will benefit!

While having life insurance helps protect your family in the event that something happens to you, your beneficiaries aren’t the only ones who benefit. A whole life policy can also be used as an investment option. Many times, you will have access to the policies’ cash value for withdrawals and loans which can be tax free. Also, certain companies will generally pay dividends to policy owners after the first policy year. Many times these dividends can be used to help pay premiums or purchase more permanent increments.

3. It’s a money pit!

One of the things that makes a whole life policy differ from a term policy is the fact that at the end of your policy, many times you will receive the value of your policy. Which can be a great investment decision for your financial portfolio, given the fact that it isn’t correlated to the stock market and mostly guaranteed by the insurer so death benefits and cash values aren’t affected by declining markets.

4. Cash in your policy once you retire!

Back in the day, many people would cash in their life insurance policy when they retired. However, today that is the time when many start to realize the importance of it. Having a whole life policy in your financial strategy could provide you security, financial freedom, as well as a legacy for loved ones.

5. Once you buy Life Insurance, you don’t have to think about it ever again!

Performing maintenance on your policy can save you money. Health changes can sometimes lead to lower premiums. Also, policies with loans and withdrawals, if not managed correctly can hinder some long term provisions and guarantees. Performing regular maintenance may also link your advisors together, which can help build a team around you with strengthened relationships, putting everyone on the same page for your investments, taxes, and your estate.

MHG Insurance Brokers is dedicated to making your Insurance experience as stress free and informative as possible. We have insurance specialists with the experience and knowledge to get the best coverage to fit you, your family, and loved ones. If you are interested in purchasing Life Insurance, have any questions, or need advice, please contact us at 954 828 1819 or visit our website at mhginsurance.com.

We know this is a very sensitive subject, so we took the time to clear the air of some myths that we have heard about whole life insurance.

667502658You’re fired! Two words no one wants to hear. Losing your job is a reality that some of us may have to deal with one day, whether we like it or not. The main reaction of someone losing their job is questioning where their income is going to come from. How will I pay the bills? How will I buy food? With careful planning, should that day arise, you would have saved some money and created a safety net for yourself until you land another job. Even with savings set aside to cover the necessities, one thing that is sometimes put on the back burner is a loss of benefits offered by your employer. We have some options you may want to consider.

COBRA/State Continuation

If you loved the coverage that your employer offered, there is good news. You may be able to keep your plan through COBRA continuation coverage. COBRA is a federal law that was implemented to let you pay to keep you and your family on your employer’s health insurance after your employment has been terminated. This applies to employees of companies that employ 20 or more employees. State continuation sometimes called mini Cobra in essence serves the same purpose which is to extend employer coverage after separation. Main difference is Cobra is a federal program while state continuation is mandated by the state. It is good to note that this is only for a limited time, usually a maximum of 18 months. Also, you typically pay a higher premium than the one you were paying while employed because your employer is no longer contributing towards your premium.

Marketplace

If you have lost your job for any reason, whether you were laid-off or you quit, you can buy a plan from the healthcare marketplace. Now I know what you’re thinking, the marketplace is only open during open enrollment. However, losing your job qualifies you for a Special Enrollment Period. This gives you the opportunity to purchase a plan that is acceptable under the Affordable Care Act (ACA), thus keeping you from paying an extra tax/penalty the following year for not having proper insurance. You may also qualify for tax credits and subsidies based on a number of factors.

Short-term Medical Plan

If you lose your job in the middle of the year, you still have some time before open enrollment begins. This will leave a gap in your medical coverage, which not only leaves you unprotected, but also liable to pay the healthcare tax. If you don’t want to purchase an ACA private healthcare plan, you can purchase a short-term medical plan which can give you coverage for up to one year. Though you should know, short-term medical plans do not meet the minimum benefit requirement and will not prevent you from paying a penalty.

Spouse’s Insurance

If your spouse or domestic partner’s company offers health insurance as a benefit, there is a good chance that they offer the same coverage to you. You may have to pay more than they do in order to be on their plan, partly because employers are required by law to cover 50% of the insurance premiums for employees and 0% for spouses even though they may choose to pay more.

MHG has the insurance specialists to advise and assist you in choosing the best health insurance that suits you, your family, or your group. Our team of brokers have the experience to get you the coverage that fits you and your budget. Recently get a nice tax return? Read our previous blog, “What Should I Do With My Tax Return?”. If you are interested in reviewing your health insurance options, please contact us at 954 828 1819 or visit our website at mhginsurance.com

Losing your job is a reality that some of us may have to deal with one day, whether we like it or not. But not many think about their what their insurance options will be, read more!

tax returnIt’s everyone’s favorite time of the year, tax season! Filing taxes can be a real pain, but if you are one of the lucky ones who are due to receive a nice check from the IRS, this can be a rewarding time. While having the latest iPad is great, you may come to regret that decision later. Instead of spending your tax return on a new gadget or vacation, try paying yourself. Sometimes bills seem like they are never ending, but one bill that you may come to enjoy paying are those that will pay you down the road. Catch my drift?

Be Forward Thinking

Whether you are established in your career or you are just starting out, you should be thinking about your retirement. Sometimes it can be difficult to put yourself in situations later in life, partly because life can be so unexpected. It just happens. But what some people don’t consider is that when you retire, you won’t have the same income to support your lifestyle. One way to fix that is by saving your money! If you are forward thinking and sacrifice the right amount of money now, what you enjoy now you can enjoy later too!

Get a Jump Start

Is it me or do paychecks seem like they are never enough? While there is a lot more to life than earning a wage, the amount you earn is still important because it determines what you can afford. Having a family is important to a lot of people, however a family can be very expensive. Also waiting until you have a family can feel like it is too late to start, or that you missed your chance to begin planning for retirement. While there is a prime age to begin saving for retirement, don’t ever think it is too late to start if you haven’t. Remember, better late than never.

So if you don’t think you have the funds to save for your future and your retirement, using your tax return to do so may be a smart idea! Another thing to note, once you save your tax return, you may feel more motivated and inclined to continue to do so throughout the year.

What Should I Buy?

· Life Insurance – There are several types of life insurance policies that can set you up nicely later in life. Policies such as Whole Life and Universal Life are ones you should consider.

· Annuity – Depending on the person, an annuity may make more sense than a life insurance policy.

· Combination – The best way may be to do a combination of life insurance and an annuity. Ever hear the saying, “Never put all your eggs in one basket”?

Benefits

The obvious benefit of investing in your future is that you will have income later in life when you decide to “hang them up”. But one benefit that should be considered is one that may be provided by purchasing life insurance. Did you know that if you develop a serious or terminal illness, you could have some of the death benefit value available to you to use while you are still alive for medical bills or whatever you choose. Also, you may have the opportunity to take loans from yourself. Wouldn’t you rather owe yourself money than owe the bank?

It is important to note that MHG Insurance Brokers does not provide tax advice. Speak with a tax advisor if you have any questions regarding your tax filings. For more information regarding what life insurance options are available to you, read our previous blog, “What Are My Life Insurance Options?“ Whether you are purchasing life insurance for the first time, looking for better coverage or are interested in learning more about other types of insurance available to you, we can help! Visit our website at mhginsurance.com or speak with an Insurance Specialist at 954 828 1819.

Filing taxes can be a real pain, but if you are one of the lucky ones who are due to receive a nice check from the IRS, this can be a rewarding time.

869469156Have you ever needed to borrow money? Chances are that you have. At some point in life, everyone finds themselves in a situation where they may need to take out a loan, borrow money from their parents, dip into their savings, etc. It’s part of helping yourself get squared away, or getting to the next level, or maybe even just to stay afloat. Many don’t want to put themselves into debt, and sometimes there is no other option. But what if I told you that you can borrow money from your Life Insurance policy? Now do I have your attention?

Well, Can I?

Yes, you can borrow money against your life insurance policy. It is a quick and easy way to get cash when you need it most, with no explanation needed of how the money will be used. Also, unlike bank loans, a policy loan has no effect on your credit, and if you can believe it, you don’t have to go through a credit approval process or credit check. This is because you are essentially borrowing money from yourself. However there are some specifics to note before you make the decision to contact your insurance agent.

The Specifics

For those of you who are thinking about borrowing money from your life insurance policy, let’s not get ahead of ourselves. First, you need to know that this can only be done with a permanent or whole life policy, not a term policy. A whole life policy typically has a higher monthly premium than a term policy, partly because it lasts for life. Part of those monthly premiums will collect as cash value that you can have access to. Keep in mind it can take quite a few years to build any cash value, so it may be significantly lower than the total of your premiums payments.

Once you have enough of a cash value built up, then you can borrow money. Unfortunately, you can’t go and purchase a life insurance policy right now and take out a loan tomorrow. However, this may be the little push you needed to get life insurance if it was something you have been putting off. It should be said that it isn’t a good idea to get life insurance coverage just for loan purposes, or trying to beat the system. This is just one of many benefits for those who make the decision to get coverage.

The Fine Print

It should also be noted that depending on your loan, it will still be expected to be paid back with interest, much like a bank loan. Typically the loan can be paid back with lower interest rates and a more flexible schedule, however it should still be paid in a timely manner. Some loans won’t require you to payback, however the loan amount will be deducted from your death benefit. There will also be interest to pay in this case. Even better news, the loan is not recognized by the IRS, so it will be tax free. The only way you will have to pay taxes on the loan is if the policy lapses, then you must pay taxes on the full amount of the cash value.

For more information on life insurance, be sure to read our previous blog, “Should I Purchase Life Insurance in My 20’s?” 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.

At some point in life, everyone finds themselves in a situation where they may need to take out a loan, borrow money from their parents, dip into their savings, etc.

635863006A company is only as good as its bottom line, and one of the best ways to ensure your bottom line is where you want it to be, is by employing the best workforce you can. At MHG, we often preach the importance of retaining top employee talent, and one of the best ways to do that is by offering a comprehensive benefit package, mainly a group medical plan. One of the ways insurance companies are trying to keep down their costs is by promoting a healthy lifestyle, and most of the top companies have implanted wellness programs.

First, what you need to know about these wellness programs is that they are essentially a rewards program through your health insurance company. They offer incentive by going to the doctor, using a step tracker, logging healthy eating habits, keeping a sleep diary, and much more. Based on the level of activity participants may earn rewards such as gift cards, electronic devices, bikes, etc. ! So now begs the question, how will implementing this help my company?

1. Saves You Money

One of the benefits of using a wellness program is the opportunity to save your company money. Depending on the program, you can save a percentage of cost on monthly premium. For example, some programs have different levels to motivate your employees to reach. Each level will offer a higher percentage of savings on that particular employee’s monthly premium. So, if you have a motivated group, there is a potential to save thousands of dollars.

2. Healthier Staff

Another benefit of implementing a wellness program is the potential of having a healthier staff. If you have a group of healthy workers it will only help the overall morale of your business. Healthy people tend to be happier, work harder, and will be absent less. A group of healthy people may also help keep your cost increases at renewal time to a minimum.

3. Cool Prizes and Gifts

Not only does health promote happiness, but so does earning some cool gifts and prizes for FREE! Your employees will appreciate the opportunity to earn free gifts or free money in the form of gift cards by simply going to the doctor and/or increasing physical activity.

4. Retain Top Employees

As stated earlier, MHG echoes the importance of companies retaining their top talent, and research shows that employees who feel valued will remain loyal. So, offering a full benefits package including one with a wellness program will only help make your workforce feel like they are valued and important. Thus, helping you long-term by not having to pay to use a recruiter to fill open positions and spend countless hours training new hires. Obviously turnover will happen no matter what, but one of our goals is to help you keep it to a minimum.

For more information on other benefits that could be available to your employees, read our previous blog, “Tips on How You Can Afford Health Insurance Benefits for Your Employees” MHG Insurance Brokers offer many different insurance solutions for many areas of business. If you are interested in purchasing a disability plan, health insurance, or life insurance, contact us at mhginsurance.com or call us at +1 954 828 1819. Our insurance specialists have the knowledge and experience to assist and guide you to the best coverage for your budget.

One of the ways insurance companies are trying to keep down their costs is by promoting a healthy lifestyle, and most of the top companies have implanted wellness programs.

Doctor holding piggy bankAhhh, what is it about the start of a new year? I guess it’s the opportunity for us to start fresh and leave our old baggage behind. Many of us are thinking about what this new year will have in store. Will we make it big? Will I find the “one”? Can I go to the doctor now? Wait, that last one doesn’t quite seem to fit. Every year, typically on January 1st, many insurance policies “start over”, refreshing deductibles and annual benefit maximums. So, for those of you wondering why insurance should even be on your mind this time of year, let us explain!

With a new calendar year comes the possibility of new insurance benefits such as, vision and dental, to go along with your health insurance. Depending on where you work, and what benefits your company provides, you may have a new benefits package. If you already had these benefits, then the annual benefit maximum will be reset. The annual benefit maximum is important because there are many cases where it can save you money depending on what time of year you visit the doctor or dentist. Let’s use Bobby as an example. Bobby has dental insurance with an annual benefit maximum of $1,000, and since he believes in good oral hygiene he visits the dentist twice a year for cleanings as recommended.

  • Visit 1: Bi-annual cleaning. Insurance covers 100% of this visit, which totals $250.
  • Visit 2: Second bi-annual cleaning. Insurance covers 100% of this visit, which totals $250.
  • Visit 3: Uh-oh! The dentist determines Bobby needs a root canal. Insurance only covers 50% of this visit, which totals $1,000.

If Bobby needs to visit the dentist again within the same calendar year, he will be paying for it out of pocket because his $1,000 annual benefit maximum has been reached ($250+$250+$500=$1,000). So in this situation it may make sense for Bobby to hold out until the following calendar year for his next visit to be covered by insurance. It is important for us to mention that this strategy should NOT be used by everyone.

You should seek medical treatment right away for circumstances that require immediate attention. Emergencies, or issues that can really affect your health should be taken seriously. If you need medical attention, it is better to be safe than trying to save a few bucks! With the new calendar year, it is also a great time to review your health insurance coverage. The implementation of the Affordable Care Act has caused many policies to change. A particular benefit that may have been covered in your policy, may no longer be covered, and vice versa. Also, your network of doctors may have changed as well so it’s important to check to see if your doctor still accepts your insurance before you schedule your next check-up.

Your health and wellness is important to us. Whether you are purchasing health insurancefor the first time, looking for better coverage or are interested in learning more about other types of insurance available to you such as life insurance, we can help! Visit our website at mhginsurance.com or speak with an Insurance Specialist at 954 828 1819.

Every year, typically on January 1st, many insurance policies “start over”, refreshing deductibles and annual benefit maximums. So, for those of you wondering why insurance should even be on your mind this time of year, let us explain!

iStock_000021078001_MediumAs we grow older, there are many of us who think back and regret not doing certain things while we were young. There are activities or decisions that we can’t make now because it’s too late, or we don’t have the time or energy. I’m sure many of you are thinking about skydiving or some other thrill seeking adventure, but I’m talking about purchasing life insurance!

While the benefits of having life insurance in your 20’s may not be obvious to all, they are enough for you to consider buying a policy. So if you find yourself asking the question, “Should I Buy Life Insurance in My 20’s?” The answer is YES!

Cost

Similar to health insurance, life insurance premiums are less costly when you are younger, typically because you are less of a “risk.” When in your 20’s, you may be thinking that you don’t need life insurance now, you’ll wait until you get married, or start a family, or buy a house. While all of those are great reasons to get life insurance, you could be costing yourself a few hundred dollars or more per year in premium by waiting. The older you are when buying a policy, the more costly the premiums. Something important to note, many times you lock in that price for the rest of your life.

Health

Most consider younger people to be healthier. While that may not always be the case, insurance companies tend to reflect that outlook in price and requirements. Depending on the face amount, you may not have to go through the extensive physical in order to get insured. Many older people have to go through a full physical and sometimes can be denied coverage. However, if you apply for it early enough, there is a chance that you won’t have to be examined at all and still attain coverage.

Investment

When most people think of life insurance, I doubt they are thinking about it as a financial investment opportunity. But depending on the type of policy, that is exactly one of the benefits it can offer. Whole Life and Universal Life insurance policies are much like savings accounts that you can withdraw money from, essentially taking a loan from yourself.

Also, after a certain amount of time, you can withdraw all of the money without having to pay a penalty. Usually your money will earn an ROI after a certain amount of time. So unlike some life insurance policies, you won’t be putting your money into a “black hole.”

Situational

Every person’s situation is different. Which is why you should evaluate your life when making a decision to purchase life insurance. Being a young person in your 20’s, there is a chance that you don’t have as much disposable income as someone who is a bit more established in their career. Keep in mind that once you become more established, you may wish your younger self had purchased a policy so that you would be paying a lower premium later in life.

Maybe, you could be starting a family, in which case you definitely need life insurance. If you are having trouble deciding which route to go or how much coverage you need, call us. We are here to help!

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. 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.

If you find yourself asking the question, “Should I Buy Life Insurance in My 20’s?” The answer is YES!