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ACA Open Enrollment Deadlines

It is the goal of MHG Insurance Brokers to regularly inform and keep clients up to speed regarding the latest news and information associated with the ACA (Affordable Care Act). The ACA is now in effect for 2014, and its core goals are to provide Americans with improved quality health care, health plans that are more affordable, and access to comprehensive health coverage to those who would have previously been denied coverage before the act was put into place. 

The ACA provides consumers with a choice – something that didn’t exist in the world of healthcare in the United States until now. Whether you were deemed ‘uninsurable’ do to preexisting health conditions, or were simply stuck paying inflated premiums with no other alternatives available to your family, all of that has changed now - you, the consumer, are in the driver’s seat. MHG Insurance Brokers wants to help you take control of your health. There has been quite a bit of chatter in the media about enrollment deadlines and penalties for not having health insurance. MHG Insurance Brokers would like to share the following current and accurate information regarding the open enrollment period with you:

  • Open enrollment for ACA health coverage runs through March 31, 2014.
  • The deadline to enroll is the 15th of each month, in order for coverage to become effective on the 1st day of the following month. For example, if you enroll for coverage by January 15th, your coverage will begin on February 1st. If you enroll by February 15th, your coverage will start March 1st.
  • Those who enroll by March 31st, but not by March 15th , will have an effective coverage date of May 1st.
  • During this open enrollment period, you may also make changes to your existing plan if you don’t find it to be adequate or are not satisfied with it.
  • Penalties for exceeding 3 consecutive months without health coverage have been waived by the Administration, but only during this open enrollment period.
  • After the open enrollment period has ended, changes cannot be made to existing plans until the next open enrollment period begins, unless there is a life changing event, such as a marriage, divorce, loss of employment, birth or adoption of a child.
MHG has extensive knowledge and expertise in health reform. We also have the experience and network of resources to provide you with the very best, solid, comprehensive health coverage available that suits your healthcare needs and works with your budget. It is crucial to have a trusted insurance broker like MHG to work with to help you navigate through all of the new regulations, perplexing terminology, and health plan options.  Let us provide you with the tools and knowledge you need in order to make an educated choice regarding your health care. 

MHG Insurance Brokers will also walk you through the enrollment process, which is vital especially if you are purchasing coverage for the first time, whether you are a young adult, or someone who has lost access to health benefits through your employer. If you already have health insurance, contact us and speak with a specialist who will assist you in comparing your existing plan to the new ACA plans that are available. This can help you determine which plan would be most advantageous to you and your family. They will examine the cost comparisons and identify the differences in coverages offered between each of the plans. Contact MHG Insurance Brokers today online at mhginsurance.com or call 954-760-9033 and take control of your family’s health today!

What You Should know about Affordable Care Act Open Enrollment Deadlines

Plans On and Off Exchange

If you are currently in the market to purchase health insurance coverage, MHG Insurance Brokers would like to share some information regarding the healthcare plans that are available both ‘on’ and ‘off’ the exchange which could benefit you. The health insurance exchange is an online marketplace for Americans seeking health coverage that allows them to comparison-shop the different plans that are being offered by competing health care providers. For Americans who previously could not afford health insurance, and yet were not eligible for programs like Medicaid or Medicare, may qualify for federal assistance by way of a tax credit, which will reduce the cost of their monthly premium. This subsidy is only available when selecting a health plan on the exchange. 

Plans offered both on and off the exchange provide the same mandatory essential benefits, however, many plans offered off the exchange provide more comprehensive coverage and have larger provider networks than many of the new 2014 plans offered on the exchange. Plans offered off the exchange are still government approved. MHG Insurance Brokers can assist you with determining whether you qualify for a federal subsidy based on your income, as well as evaluating the benefits and provider networks included in each of the plans that you are interested in, whether they are on or off the exchange. Here are just some of the mandatory essential benefits that are offered through the plans available both on and off the marketplace:

  • Outpatient doctor visits, including preventative and wellness services
  • Pediatric services including dental and vision
  • Emergency room services
  • Hospitalization
  • Maternity and newborn care
  • Mental health services
  • Substance Use Disorder coverage
  • Prescription Drug coverage
  • Rehabilitative services
  • Lab tests and services
The Affordable Care Act has made way for many improvements to healthcare for Americans. New plans and many older plans will now provide subscribers with these key enhancements, in addition to others that aren’t mentioned on this list:

  • Advances in women’s health services
  • Improved care for seniors
  • New preventative services that require no out of pocket costs.
  • No annual or lifetime limits on healthcare.
MHG Insurance Brokers is here to guide you each step of the way during these changing times.  MHG Insurance Brokers will assist you with comparing plan choices that are available both on and off the exchange, and help you obtain the health care coverage that is best suited to your family’s health needs and budget. We will utilize our knowledge and expertise to determine whether it is more advantageous to you to shop for a plan on or off the exchange, and clarify the details regarding the benefits, rights and protections included in the new plans. Call one of our insurance specialists today for expert guidance on all matters concerning health care to ensure you are getting the best coverage. MHG Insurance Brokers is always available to answer questions, or assist with processing claims. We continue to be of service for those who are in the market for Supplemental and Long Term Care coverage, Life insurance, and more. Visit MHG Insurance Brokers online at mhginsurance.com, or call and speak to one of MHG’s representatives at 954-828-1819.

Availability of Plans On and Off Exchange

ACA Health Insurance Plans

The open enrollment period is in effect through March 31st, 2014. MHG Insurance Brokers would like to make you aware of specific deadlines that are approaching, as well as provide you with information on a topic that has been getting a lot of attention lately – shrinking plan provider networks on the ACA health insurance marketplace.

Here are some notable dates to bear in mind:

  

  • For government approved health plans effective March 1st – enrollment deadline February 15th, 2014
  • For government approved health plans effective April 1st  – enrollment deadline March 15th, 2014
  • Final Enrollment date to obtain a healthcare plan or off the exchange – March 31st, 2014 for effective date of May 1st, 2014
If you are looking to buy health insurance, use this time to evaluate and compare the many plans available that you will be presented with. There has been attention given recently to the sizes of the provider networks that are a part of the plans offered through the health insurance marketplace. It appears that these plans’ provider networks are smaller in order for the plans to provide affordability and be able to compete with other plans offered on the exchange. The ACA doesn’t set prices for these plans or for medical services provided to the consumer, the insurance companies do. Smaller networks with fewer provider choices means smaller premiums for the consumer. In order to be more affordable, these plans exclude the most expensive providers. 

While insurance companies decide which doctors and hospitals will be a part of a network, there are also doctors who will only accept higher fees before they choose to participate in some networks. This is typical behavior within a competitive market. It is important when weighing the benefits of plans you are considering to check what provider networks your current doctors are participating in. You may wish to only consider those plans if keeping your doctors is important to you. When you find networks that your doctors participate in, call your doctors to confirm the information before selecting a plan. This extra effort will pay off, as selecting a plan that your doctor may no longer accept could be a critical mistake, as you won’t be able to change your plan again until the next open enrollment period, or a qualifying life event takes place, such as a marriage, birth or adoption of a child, or divorce. 

One comforting fact to be aware of: no matter which plan you select, the law prohibits insurance companies from requiring higher copayments or coinsurance if you get emergency care from an out-of-network hospital. If you are traveling and an unfortunate accident lands you in a hospital emergency room that is not on your provider network, you do not need to get preapproval before receiving emergency services. This applies to all plans that were created or obtained before March 23, 2010. 

 As always, MHG Insurance Brokers is here to assist you with all of your insurance needs. Our in depth and current knowledge can help you navigate through all of the information and choices you will come across when shopping for a health care plan. Call MHG Insurance Brokers today at 954-828-1819 to learn more about the new healthcare plans available, or visit MHG Insurance Brokers online at mhginsurance.com. We look forward to protecting your health!

Affordable Care Act: Health Insurance Marketplace Plans and Their Provider Networks – How Do They Affect You?

Health & Fitness Tips

Making time for fitness is one of the most important aspects of a healthy and productive lifestyle, yet it’s one of the first things to get pushed aside when life gets hectic. You know how crucial health and fitness are to your overall happiness, performance and body image, but when deadlines, children, meetings and social obligations are calling, how do you find the time? With these 10 health and fitness tips, you’ll be living a healthier, happier, more fit life before you know it, no matter how pressed for time you are. 

 

Break it up

You don’t have to workout for an hour straight to reap the benefits of working out for an hour. Break it up, fitting in short bursts when you have time. Do a 20 minute strength set in the morning, walk a mile on your lunch break, and throw in another set in the evening. Breaking your workout into smaller parts makes it seem less daunting – plus, short bursts seem more manageable, so you’re less likely to skip exercising. 

Fast, healthy food fixes 

A busy lifestyle often lends itself to convenience foods, which usually aren’t healthy. Invest time now in learning fast recipes you can easily throw together no matter how exhausted you are at the end of the day. Gourmet salads, veggie burritos and turkey steak are healthy options that can be whipped up in 10 minutes flat.

Healthy hotels matter 

Traveling for work can be great for your career, not so great for your waistline. People who travel for work more than 20 times per month are 2.61 times more likely to feel like they have poor health and 1.92 times more likely to be obese compared to those who only travel six times per month, according to a Journal of Occupational Environmental Medicine study. Make traveling work to your advantage. Stay in hotels with gyms and healthy menu options, and try to get in quick workouts. Bonus: Exercise sharpens your mind, so your work performance could improve by staying at healthy hotels too. 

Be active all day

Sometimes, getting to the gym is impossible. For these seasons, making exercise a part of your lifestyle will keep you healthy no matter what your schedule. You can do lunges while you’re on the phone, squats while brushing your teeth, turn date night into rock climbing, hiking or ice skating, take the stairs, run instead of walk when you take your dog out, chase your kids around the park, or head to yoga with a friend instead of grabbing a drink. Every bit of exercise counts - be creative! 

The smart commute

If possible, turn your commute into a workout. Walk, bike, or run if you have a place at your office to store extra clothes. You might be surprised how fast you arrive, and if you live somewhere with bad traffic it might even be a shorter commute. Don’t live close enough for these options? Get off the metro or bus a few stops early and savor the morning air, or park far away so you can still get a few blocks of walking in.

Become a morning person

It might sound excruciating, but people who workout early usually workout more, and you’ll get used to the early wake up call. If you set your alarm early, it means you can finish your workout before the rest of your day begins. For extra motivation, sleep in your gym clothes so all you have to do is wake up and go. 

Maximize your lunch break 

Lunch hour is great for catching up with colleagues, but make a point a few times a week to squeeze in some exercise. Sixty minutes is enough time to go for a walk, or even hit the gym. Best of all, it’s been proven that people are more productive after exercising or taking a break from their computer, than they are if they eat at their desks or work all day straight.

Make it a family affair 

Busy parents know it’s not always easy to make time for yourself when kids are young. However, children are active beings, so join in their day-to-day activities and you’ll be getting all the exercise you need.  Play tag, blast music and dance, jump rope, or take a family bike ride. This way you get fun, family and fitness in one. 

Make it count 

When you do get to the gym, make it count so you have some leeway on the days you don’t get there. Do supersets, maximizing your time and muscle. Instead of resting between sets, rest the muscle group you’ve just trained while working another, before reversing again. So, work out your lower back, then rest it while you do your abs, then rest your abs while you do the next set of lower back, and so on.

Fitness fun for everyone 

Combining your work/social life with your fitness life can bring the ultimate payoff. Next time a friend suggests coffee, try a spinning class instead. Hold one-on-one meetings over a walk in the park, or turn company outings into bowling instead of drinks/dinner. Not only do you get exercise in, but making plans with other people also ensures you don’t skip out. If you tell your friend you’ll meet her at yoga, you’re accountable and more likely to actually go. As always, before starting any fitness routine, consult a doctor. When debating between healthy recipe options or possible new supplements, a nutritionist can be beneficial as well. It’s also a good idea to look over your health plan to see what types of health specialists are covered. 

If you need assistance in obtaining a new health plan or have questions about your existing policy, visit mhginsurance.com, or call MHG at 954-828-1819 and speak with one of our knowledgeable insurance representatives. MHG Insurance Brokers cares about its clients, and encourages everyone to eat healthy and exercise, no matter how busy their lives are.

Top 10 Health & Fitness Tips for Busy People!

Buying Health Insurance

With the Affordable Care Act in full effect for 2014, Americans now have more options when it comes to choosing a health insurance plan than ever before. This makes it critical to comparison shop for the plan that will best accommodate your family’s health care needs. While more choices are always welcome, the process of shopping around can be overwhelming and somewhat confusing, as there is a lot of information to take in and dissect. The following factors are important to consider when in the market for a new comprehensive health insurance plan: 

  • Under ACA, individuals and families are now able to get group like coverage. Group plans were generally more comprehensive, but now individual plans can be just as good. Before the ACA went into place, group plans offered health care that was less expensive, and was extended to employees with pre-existing health conditions. Now, having a medical condition is no longer an obstacle when purchasing health insurance. While these plans may be less expensive than other plans, it pays to compare the benefits of a group plan to plans you can purchase independently.
  • When comparison-shopping, be sure to check the network of providers in each plan. If maintaining the same physician is important to you, be sure to inquire with your physician’s practice to see what insurance plans they accept. Also, check to see if the prescription medications you are currently taking are included on each plan’s approved prescription drug list.
  • When considering the costs of each plan, remember that the lowest premium does not equal the cheapest plan. Other costs to the subscriber include the annual deductible, which is the amount you will have to pay out of pocket before your benefits kick in. There are also copayments, which are minimal out of pocket expenses that are due at the time of a doctor’s visit, and lastly, there are coinsurance amounts. Coinsurance is the amount that is usually expressed as a percentage and refers to the remaining balance owed for treatment after the deductible is paid. If the insurance company pays 80% of the balance due, then you will be responsible for the other remaining 20%.
  • Identify the benefits you must have. Although we cannot predict injuries or illness, we can look into our family’s history for some indicators. If your family has a history of heart disease or Diabetes, you may want to make sure that testing for these medical conditions, and receiving medications to treat them, are covered in the plan you select. If you want to start planning a family, you will want to make sure that the plan you choose has decent maternity coverage.
  • Don’t buy more insurance than you need. If you are young and healthy, it may benefit you to choose a plan with a higher deductible and lower premium, as it could potentially save you money each month.
MHG Insurance Brokers wants our clients to be fully informed before selecting a health care plan. Let MHG Insurance Brokers assist you with the application process, determining your health care needs, clarify any confusing terminology, and introduce you to the most comprehensive plans on the market today that will work with your budget. Visit MHG Insurance Brokers online at mhginsurance.com, or call and speak with an MHG insurance specialist today at 954-828-1819. Here’s to your good health!

Things You Must Know Before Buying Health Insurance

ACA Health Coverage Open Enrollment Period

 

The deadline to acquire an ACA compliant health insurance plan is almost here. If you have not yet obtained health care coverage, now is the time to act. MHG Insurance Brokers is available at any time to assist you with selecting the best plan to meet the health care needs of you and your family.  March 31, 2014 is the last day of the 2014 open enrollment period, and if you enroll by this deadline, your coverage will commence on May 1st

The government is not penalizing anyone who has exceeded 90 days without maintaining health insurance coverage as long as they purchase a plan within this current open enrollment period. However, this decision by the government applies to the 2014 open enrollment period only, and is not inclusive of future enrollment periods. If you do not purchase a health care plan during the current open enrollment period, you will not be able to purchase one again until the 2015 open enrollment period, and you could possibly face a penalty. 

The 2015 open enrollment period is tentatively set to occur between November 15, 2014 and January 15, 2015, For people who have qualifying life events, such as a marriage, birth or adoption of a child, or death in the family, they will be able to obtain or change coverage during a special enrollment period for such qualifying events, which would start on the date of the event, and remain open for 60 days.

It is important to mention that short term medical plans are available throughout the year, but they do not satisfy the ACA requirements for essential benefits. Terminating a STM is not considered to be a qualifying life event that would make you eligible to purchase a health care plan during a special enrollment period. For those with health care coverage who are not sure if their plan is adequate, take note that you are considered ACA compliant if you have coverage that is:

  • Job based insurance
  • Medicaid, Medicare, or CHIP
  • A plan that you purchased yourself prior to 2014 or a 2014 metallic plan (Bronze, Silver, Gold, Platinum)
  • A COBRA plan
  • Retiree coverage
  • VA health coverage or Tricare
If you are covered by any of the above, you don’t have to make any changes. If you are not sure if the plan you have is ACA compliant, MHG Insurance Brokers can assist you and answer all of your questions. The ACA plans cover essential health benefits, pre-existing conditions, and preventative care.  The plans are typically less expensive when selecting one through the health insurance marketplace, as the price is based on income and the size of your household. 

MHG Insurance Brokers can assist you by speaking with you to determine what your family’s needs are that must be covered by a health plan, navigate the marketplace for you, and select a number of plans that would best serve your family. From those plans, your MHG insurance broker will further preview each plan with you, break it down and examine the provider networks, costs, and out of pocket expenses. Your MHG Insurance broker will evaluate if it is more advantageous to you to pay a higher premium and lower deductibles and copayments, or if the opposite would better serve you.

 Lastly, your MHG Insurance broker will explain to you your rights and protections under the Affordable Care Act. With time dwindling to enroll, there is a lot of information to consider before selecting a plan. Contact MHG Insurance Brokers today at 954-828 – 1819 or by visiting online at: mhginsurance.com.  Here’s to a healthy 2014!

Critical Deadlines and Information for the 2014 ACA Health Coverage Open Enrollment Period

Vacation Health Insurance On Cruise Ship Leave Your vacation is just around the corner! As a Captain, Officer or Crewmember who has been working 12-14 hour days onboard for many months, you’re looking forward to your much deserved time off. Whether you’re heading home to relax and spend time with family and friends or are going off traveling, it’s important to keep your health in mind and purchase a vacation health insurance plan.

 

The Shoreside Health Insurance Plan, or SHIP, is an excellent solution for Captains, Officers and Crew who are looking for health insurance coverage while between contracts or on vacation. The opportunity to spend some time exploring foreign lands is priceless, but an accident such as a broken leg or motorcycle accident can quickly turn your dream vacation into a financial nightmare! 

SHIP is designed specifically for Captains, Officers and Crew working in the cruise industry and provides up to $500,000 in medical benefits for costs arising from an accident or an illness. Plans are surprisingly affordable, starting at just over $2 a day making vacation health insurance one of the smartest uses of your money! 

Coverage is available to all nationalities from 60 to 180 vacation days per year. Any unused days can be carried forward to your next sign off within the same policy year. Online enrollment is also simple and next day coverage is available, eliminating the danger of uncovered accidents as you wait for your policy to go into effect. 

SHIP also takes into account the outgoing and adventurous spirit that led you to a career traveling the world and offers an optional Adventure Sports Rider for the boldest adventurers. 

No matter where your vacation takes you, consider the cruise industry’s premier vacation health insurance policy to protect you during your next sign off period. Looking for a full-time international health insurance plan instead? Speak with an Insurance Specialist at MHG Insurance Brokers and we will help you identify the right solution for your particular circumstances. 

Additionally, MHG offers a full range of individual and group insurance plans  for marine professionals including marine crew insurance, disability income, life insurance and travel insurance among others. Whether you are setting off on an adventure-packed vacation, exploring or scuba diving with your shipboard friends, or are heading home to spend some quality time with your loved ones between contracts, an accident or illness can happen at any time and leave you facing medical expenses that could decimate your hard-earned savings. Be prepared with a vacation health insurance plan.

For more information about marine vacation health insurance and other marine insurance coverage, call us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com .

Getting Vacation Health Insurance While On Leave from a Cruise Ship

Expat Insurance Quote Options

Expat Insurance Quote OptionsMoving to another country can be the exciting adventure of a lifetime. Whether you will be pursuing your studies during a semester abroad or relocating more permanently to further your career, it is imperative that you have a health insurance policy that provides coverage in the country where you will be residing. In certain cases, you may qualify for the national health plan of your host country, but the majority of travelers will need to obtain expatriate health insurance coverage. 


If this is your first time purchasing an international health insurance policy, the process can be a little confusing so we have provided these expat insurance quote options to help you on your way.

  1. Research the health insurance requirements of your destination country

    A number of countries will not let you relocate unless you have health insurance coverage in place, and some require specific coverage, such as medical evacuation coverage or repatriation of your remains if you should die. Research the requirements for your destination country well in advance of your move date so you have time to investigate various plans, obtain the necessary coverage, and submit any required documentation. Good places to start your research include your employer and your home country’s governmental department regulating international travel (U.S. citizens should consult the U.S. State Department).

  2. Consider your needs

    If your work or recreation plans include travel to other countries, your international health insurance plan will need to include coverage for those destinations as well. In most cases, the simplest option is to choose worldwide coverage, so you do not have to reapply each time you cross a border. You may want a plan that includes coverage in your home country as well; many expats prefer to return to their home country for serious operations and to give birth. If you intend to participate in sports or hazardous activities, you may need to purchase a rider on your policy to ensure any injuries are covered.

  3. Buy before you leave

    Medical underwriting for international policies is not instantaneous; it can take anywhere from several days to several weeks for approval. Make sure you begin the application process early, or you could arrive at your destination only to discover that your application for expatriate health insurance coverage has been declined.

  4. Read your policy carefully

    Reading the schedule of benefits, usually found on the first three to five pages of an expat policy, will give you a valuable overview of your coverage, deductibles, benefit limits, and any co-pays or co-insurance. It is just as important to read the limitations and exclusions, however; riders and additional coverage can be purchased for some excluded injuries, conditions, or activities, as long as you make provisions ahead of time.
Trying to find expatriate health insurance coverage on your own can be a daunting task. At MHG, many of us are expats ourselves, and we are well-acquainted with the needs of individuals living and working around the globe. Our Insurance Specialists have the experience, knowledge and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans, whether you are looking for International Health Insurance, Expatriate Disability Income Insurance, or Life Insurance. At MHG Insurance Brokers, our commitment to your well-being does not end once you have purchased a plan; through our "Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. 
  

Before you relocate to another country, call MHG Insurance Brokers at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding the expatriate insurance coverage you need!


Expat Insurance Quote Options

5 Tips for Coping with Jetlag

5 Tips for Coping with JetlagThe Monaco Yacht Show opens later this month, giving yachting professionals and enthusiasts from around the world the chance to connect as they experience the best the yachting world has to offer. Whether you are a yacht captain, crewmember, or one of the many builders, designers, brokers, buyers, and other marine professionals who make MYS the world’s most prestigious yacht show, you need to be in top shape to keep up with the non-stop whirlwind of activity. If you are reaching Monaco by plane and suffer from jetlag, however, the yachting world’s most exciting four days can turn into a nightmare of disrupted sleep, nausea, and daytime fatigue. Try these 5 tips for coping with jetlag – they will help you combat the effects of your flight so you can keep up with even the most demanding Monaco Yacht Show schedule!

  1. Get a Good Week’s Rest

    Although it seems like you have a million chores to accomplish before you leave for Monaco, make a conscious effort to get at least eight hours of sleep every night for the week before your departure. This pre-trip rest is essential if you plan to participate fully in the Monaco Yacht Show; travelling in a state of fatigue tends to heighten the effects of jet lag, turning what could be a mild case of tiredness into full-fledged exhaustion.

  2. Adapt to Monaco’s Time Zone Before You Arrive

    Altering your schedule before you arrive in Monaco allows your body to make a gradual adjustment to the change in routine, rather than a sudden shift that can induce jetlag. Shift your bedtime half an hour later or earlier each night until you are on Monaco’s time zone; if you are travelling east, do the opposite. Move your mealtimes closer to the schedule you will follow at the Yacht Show, and change your watch to Monaco time as soon as you board your flight.

  3. Stay Hydrated

    Dehydration exacerbates the effects of jet lag, so make sure you drink a generous amount of water before, during, and after your flight. Avoid alcohol and caffeinated beverages, as they disrupt sleep patterns and actually dehydrate your system.

  4. Follow an In-Flight Exercise Program

    Staying sedentary during your flight will slow your circulation so you arrive sluggish, sleepy, and ill prepared for the demanding schedule you face at the Monaco Yacht Show. Try performing simple stretches and easy isometric exercises during the flight; taking frequent short walks about the cabin will also increase alertness and reduce the swelling and aches that long international flights can induce.

  5. Resist the Urge to Nap

    Once you land, you may feel an overwhelming urge to nap. Waiting until local nightfall to sleep will help counteract the effects of jetlag, allowing you to be more alert so you can be at your best when you meet the crowds at MYS.

If you still suffer from jetlag or other illness during your trip, you may need to consult with a medical professional about prescriptions and other treatment options. MHG’s travel insurance policies can provide referrals to local Monaco doctors and hospitals, avoiding the need to interrupt your planned meetings to search for a practitioner. Our international health insurance plans offer a choice of geographic area of coverage, policy deductible/excess and, in some cases, choice of coverage limit, so you can tailor your coverage to match your specific destination. MHG Insurance Brokers offers a full range of travel insurance coverage including travel health insurance, trip cancellation insurance, extreme sports insurance, and other plans that provide full protection so you can focus on making this year’s Monaco Yacht Show the most successful one yet!

Call MHG Insurance Brokers at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for a full range of travel insurance coverage options for your Monaco Yacht Show trip and other business destinations!

5 Tips for Coping with Jetlag

Life Insurance Myths

Life Insurance MythsTo help you make an informed decision, we present 6 common life insurance myths – along with the factual information that debunks these misconceptions. 

 

Myth #1: I am too young to need life insurance. 

Even young, single individuals need life insurance to cover their financial obligations, such as personal debts, medical, and funeral bills; otherwise, a family member may be responsible for paying these expenses. You can lock in lower life insurance rates, begin preparing for the family you will someday have, and start building towards a financially secure retirement. Life insurance also gives young individuals the chance to make a significant financial contribution to their favorite charity or cause. 

Myth #2: I am too old to need life insurance. 

You may think there is no need for life insurance after you reach retirement age because your family is grown and you have sufficient funds to enjoy a comfortable retirement. Actually, purchasing life insurance after 60 provides a variety of potentially necessary benefits, allowing you to help protect your assets, clear any accumulated debts and tax burdens, and possibly leave a generous tax-free legacy for your loved ones or favorite charity while enjoying your retirement to the fullest.

Myth #3: Only the breadwinner needs life insurance. 

Coverage for spouses who do not work outside of the home is often overlooked, but their loss causes considerable financial repercussions for the remaining family member. When you perform a needs-based cost-replacement analysis of the many services your homemaker partner provides, including childcare and chef duties, cleaning services, driver and more, the need to purchase life insurance coverage becomes clearer.

Myth #4: My employer-provided life insurance is all I need.

Employer-provided life insurance is temporary coverage that is only in force while you remain with your employer. No matter how secure your position seems, the instability of the modern workplace, where corporations are downsizing without notice, could leave you with no job and no life insurance coverage at any time. In addition, employer-provided life insurance is generally only for one to two times your annual salary, a significantly insufficient amount if you have a family that will rely on your life insurance for their well-being. 

Myth #5: It is better to invest my money than purchase life insurance. 

Given the volatility of the market, counting on investments to provide for the financial well being of your family in your absence is a risky proposition. Purchasing sufficient life insurance can allow you to cover the cost of clearing your debts, provide for your family’s well-being, and help ensure that they have the needed funds to live comfortably regardless of downswings in the financial market.

Myth #6: Life insurance is very expensive.

Life insurance plans are actually surprisingly affordable. According to a recent study reported by Forbes, 80% of respondents overestimated the cost of life insurance – often by hundreds of dollars. The experienced insurance specialists at MHG can assess your life insurance needs and put together an affordable life insurance package that combines term and whole life insurance policies to provide the coverage you need. 

Contact MHG Insurance Brokers for more information about life insurance and other important insurance policies that are available by calling 954-828-1819, or visiting online at mhginsurance.com. Learn how you can protect your financial future and provide for the needs of your loved ones.

Life Insurance Myths