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| *Ostroff, Fair and Company>>>Insurance |
WHAT IS THE BEST PRIVATE HEALTH INSURANCE PLAN IN detroit ,MICHIGAN ? |
i am 37 my wife is 24 and we are newly married. non smoker we are planning a family and looking for a good insurance plan. deductible 2500 and co pay nil. any suggestions or pitfalls to avoid ? cheers there is no such thing...you have to find the right plan for you. everyone's different right? I would suggest steering clear of whole life plans (or universal plans). Insurance companies love changing the names of these plans and selling them since the default rate is extemely high. That means you may pay your premiums on time year after year, but you miss a payment or decide you don't want the plan anymore--bingo the ins co. loves this as they get to keep your premiums and owe you nothing. Since it sounds like you and your wife are in good health, make sure you get a plan that requires a medical exam- this is in your favor, never get a plan that doesn't require an exam unless your on your deathbed. Only buy as much term insurance as your family would need if you did die....sure 2 million to your family sounds nice if you should die, but do you actually need that much? Can you meet the payments without a chance of defaulting?? they will try to play on your emotions and sell you as much as possible, just be careful and decide for yourself what you and your family needs. Whatever you do, don't let them sell you an insurance policy on your kids lives? this is the oldest trick in the book, they offer you some great policy for you and your wife only if you insure your kids as well...forget it, they are just betting on you to default. Your family will be fine with alot less than you probably think, and what the ins. co will tell you what you need. save some of the money you would otherwise spend on a larger insurance policy and invest it yourself, anything is good, take your kids on vacation. Just don't let your emotions make the decision when it comes to insurance. i would suggest a 20, or maybe 25 year term policy for yourself for maybe 500K to 2 million depending on your lifestyle. I know you would probably be emotionally devastated if something should happen to your wife, but will you be financially ruined? probably not, but they will try to sell insurance on your wife. maybe you do need it if she brings in alot of the family income, but most likely not. you may also want to consider a joint insurance policy for the both of you, say 2 million to your kids if you both die, or a lesser amount in case of just of you expires. Good luck, shop around, anb don't make any hasty decisions on emotions, use your noggin! you should get info first http://www.insurance-assurance.com/... |
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