The difference between therapy and replacement therapy is that the free replacement therapies are used in place of the medical approach, which often require chemotherapy and prescription. The experimental treatments are being tested and researchers are often reluctant to report any other method that is a success. Complementary therapies are used to increase patient comfort, as well as other treatment and are not intended to be a cure for mesothelioma.
Cures for Mesothelioma Cancer
According to information from the National Cancer Institute Mesothelioma plug, the most common treatments for mesothelioma include surgery, radiation and chemotherapy. Removing the mesothelium, a layer of tissue that surrounds the internal organs, is the most common surgical approach taken.
Chemotherapy and Radiation Treatments for Mesothelioma
Radiotherapy can be administered internally by the provision of radioactive fluids directly into the affected areas through pipes or out by machines similar to an X-ray. Chemotherapy is the introduction of anticancer drugs by intravenous injection. According to the NIC, mesothelioma involves experimental chemotherapy treatment for cancer drugs injected directly into the chest cavity where cancer cells are active.
Experimental Treatments for Mesothelioma Cancer
At the time of this writing, there are 33 clinical trials funded by the federal government for treatment of mesothelioma. Experimental treatments are rarely funded by Medicare, but the chances of success are poor with traditional treatments do experimental treatment programs are more convincing.
Herbal Cures for Cancer
Although the FDA has not approved any herbal remedy for cancer, herbs known to improve the functioning of the immune system. The idea behind many herbal remedies is that it is important to strengthen the body so it can defend itself against cancer cells. A warning for cancer treatment herbal, is that nobody has ever been studied or examined in a laboratory at the way drugs are.
Cancer Cures for Mesothelioma
According to research published in the Journal of Lung Cancer in March 2007, the median overall survival of patients with diffuse malignant pleural mesothelioma, chemotherapy was four months longer than patients who opted for the symptomatic treatment of the base. Currently, there is no established cure for cancer mesothelioma.
Medical Marijuana for Mesothelioma
Supporters of medical marijuana is not normally claim to cure disease, but in states where medical marijuana is allowed, patients may find it can help stimulate appetite, lost with chemotherapy, and relieve pain.
New Cancer Drugs for Cancer and Mesothelioma
Several new cancer drugs under study. The process of approving new cancer drugs is slow and costly. Chemocare.com indices of drugs to treat cancer and lists more than 200 different substances, which treats cancer. None are known to cure cancer.
With the low rate of survival regardless of treatment, alternative treatments for mesothelioma is an option that some patients prefer the comfort and pain relief. Until science is able to cure cancer, mesothelioma patients are still suffering.
Monday, November 22, 2010
Friday, November 5, 2010
Finding Great Health Insurance Quotes For A Small Employer Group
Since 2011, the Internal Revenue Service offers a new tax credit for small businesses and small organizations tax exemption to cover the cost of providing health insurance for workers. The credit is available for small businesses that pay at least half of the total cost of individual health insurance. Large health insurance quotes are available for companies that take advantage of this special government program.
It's time to offer individual health insurance is now. Health insurance, except to improve the health of workers, but the loss of lower-day productivity of the company or damage due to lack of proper care. Some studies have shown a significant increase in worker productivity when the health care workers with low and moderate income.
The acquisition of Medicare requires business owners to actively explore markets and services provider, compare the costs and determine strategies for health workers.
Develop a health strategy for employees. A good practice is to involve employees in the process that the aims and objectives are identified. Examine current trends in reports of injuries and accidents to industry standards. Each segment of the industry has published standards for working days lost to absenteeism and work together. A local Ministry of Health or the trade association and security can be good sources of information on trends in diseases and injuries of workers.
Determine an appropriate level of employee absences.
Demand for political information and services related to health insurance providers. Providers will be eager to offer courses, but through services that matched health strategies will better know the quality of coverage. Build a page side by side comparison of all services, costs of businesses and individual fees. The differences between health care providers appear.
Geography is another important point to add to the comparison of proposals. Coverage outside the service area of the company or outside the limits of where most employees live, would violate the insurance. Take time to assess the location of providers of health insurance for workers will provide a more efficient product that will be used. Regardless of the contributions of insurance premiums and employee, insurance is not used, is a waste of resources for both the employee and the employer.
To ask for a good health insurance quotes means comparing the cost of premiums. Citations, which provide a detailed breakdown of services and location can be compared on the basis of price alone. Such comparisons allow openly share strategies for workers in the health services offered by the company that will deliver it. Employees can also see the percentage of each premium is paid.
It's time to offer individual health insurance is now. Health insurance, except to improve the health of workers, but the loss of lower-day productivity of the company or damage due to lack of proper care. Some studies have shown a significant increase in worker productivity when the health care workers with low and moderate income.
The acquisition of Medicare requires business owners to actively explore markets and services provider, compare the costs and determine strategies for health workers.
Develop a health strategy for employees. A good practice is to involve employees in the process that the aims and objectives are identified. Examine current trends in reports of injuries and accidents to industry standards. Each segment of the industry has published standards for working days lost to absenteeism and work together. A local Ministry of Health or the trade association and security can be good sources of information on trends in diseases and injuries of workers.
Determine an appropriate level of employee absences.
Demand for political information and services related to health insurance providers. Providers will be eager to offer courses, but through services that matched health strategies will better know the quality of coverage. Build a page side by side comparison of all services, costs of businesses and individual fees. The differences between health care providers appear.
Geography is another important point to add to the comparison of proposals. Coverage outside the service area of the company or outside the limits of where most employees live, would violate the insurance. Take time to assess the location of providers of health insurance for workers will provide a more efficient product that will be used. Regardless of the contributions of insurance premiums and employee, insurance is not used, is a waste of resources for both the employee and the employer.
To ask for a good health insurance quotes means comparing the cost of premiums. Citations, which provide a detailed breakdown of services and location can be compared on the basis of price alone. Such comparisons allow openly share strategies for workers in the health services offered by the company that will deliver it. Employees can also see the percentage of each premium is paid.
Tuesday, November 2, 2010
Business health insurance: 10 things you should look for
Although most people in the labor force enjoy getting business health insurance from their employer, some people like to spend time comparing the different plans and consider their options. However, assiduous research is essential to find the right balance between costs and benefits for you and your family.
The Medicare business plans usually offer a choice for the type of coverage you can get - the more flexible plan, the more you will pay. If an HMO affordable, low rates and many restrictions or a PPO more popular with more options, but a higher cost, you have to choose a plan based on your specific needs health care.
It'sclear that choosing the right health insurance business is not easy. Help, we've compiled a list of 10 health insurance plans you should consider before choosing one.
What to look for in business health insurance
1.Selection - the providers of health insurance companies to keep costs down while getting more medical providers to accept specific rates. You must choose a primary care physician (PCP) or choose a doctor from the list when you need the service. Also receive referrals to specialists. If your current doctor is a list of suppliers, you're lucky. Otherwise, you must do your own research to find the best PCP.
2.Location - Think about how to travel to get to your doctor. Do you want a doctor near your home or office? What if you need care while out of town? Want to adequate protection in emergency situations when you can not visit your PCP or a referral.
3.Price - You probably responsible for a portion of their health insurance premiums and expenses of the business. Get the specific details of what your company covers and how much coverage by the individual and family deductible before the insurance company to pay its share, and prescription drugs.
4.Flexibility - Consider the most important to you and your family be kept low, or offer more options? Most business health insurance plans require you to choose the doctor limited list, but retains control. Consider a typical health care needs to decide what is best.
5.Prepare for the future - A big mistake would be thinking only about their current situation. Make sure your health insurance company can adapt to changing life experience, such as a family, close to retirement, caring for elderly parents or pay for major surgery. Most plans allow you to make immediate adjustments to changes in life without waiting for the annual enrollment period for your company.
6.Main features – While it can vary from provider to provider, most designs cover physicals, health screenings, ambulance service, emergency room visits, & hospitalization. You may also be eligible for other benefits such as prescription drug discounts & vision & dental designs.
7.Additional features – Depending on what your employer offers, your business medical health insurance might also provide assistance with mental health care, addiction prevention, family planning, physical therapy & rehabilitation, & chiropractic services.
8.Coverage - Find out what’s covered & what the limitations are. Does a plan cover preexisting illnesses or specific illnesses? Is there a gray area for definite experimental surgeries or treatments? Knowing ahead of time will prevent you from jogging in to issues down the line.
9.Limits – If you’re concerned about serious illnesses & major surgeries, check the dollar limits on each business medical health insurance plan. Providers may cap the amount they’ll pay out in a year – or in a lifetime – & you require to be definite you’re not left paying the bulk of pricey hospital bills. Your employer may offer health savings accounts or flexible spending designs so you can supplement your coverage to prepare for these costs.
10.issue solving - Find out what the procedures are for resolving any business or coverage issues. you ought to be able to contest reimbursement levels in the event that they appear low or claim rejections in the event you have valid signs. Check the official complaint records from your state’s Dept. of Insurance to review grievances against a provider; avoid working with one that has lots of past complaints or outstanding grievances.
The Medicare business plans usually offer a choice for the type of coverage you can get - the more flexible plan, the more you will pay. If an HMO affordable, low rates and many restrictions or a PPO more popular with more options, but a higher cost, you have to choose a plan based on your specific needs health care.
It'sclear that choosing the right health insurance business is not easy. Help, we've compiled a list of 10 health insurance plans you should consider before choosing one.
What to look for in business health insurance
1.Selection - the providers of health insurance companies to keep costs down while getting more medical providers to accept specific rates. You must choose a primary care physician (PCP) or choose a doctor from the list when you need the service. Also receive referrals to specialists. If your current doctor is a list of suppliers, you're lucky. Otherwise, you must do your own research to find the best PCP.
2.Location - Think about how to travel to get to your doctor. Do you want a doctor near your home or office? What if you need care while out of town? Want to adequate protection in emergency situations when you can not visit your PCP or a referral.
3.Price - You probably responsible for a portion of their health insurance premiums and expenses of the business. Get the specific details of what your company covers and how much coverage by the individual and family deductible before the insurance company to pay its share, and prescription drugs.
4.Flexibility - Consider the most important to you and your family be kept low, or offer more options? Most business health insurance plans require you to choose the doctor limited list, but retains control. Consider a typical health care needs to decide what is best.
5.Prepare for the future - A big mistake would be thinking only about their current situation. Make sure your health insurance company can adapt to changing life experience, such as a family, close to retirement, caring for elderly parents or pay for major surgery. Most plans allow you to make immediate adjustments to changes in life without waiting for the annual enrollment period for your company.
6.Main features – While it can vary from provider to provider, most designs cover physicals, health screenings, ambulance service, emergency room visits, & hospitalization. You may also be eligible for other benefits such as prescription drug discounts & vision & dental designs.
7.Additional features – Depending on what your employer offers, your business medical health insurance might also provide assistance with mental health care, addiction prevention, family planning, physical therapy & rehabilitation, & chiropractic services.
8.Coverage - Find out what’s covered & what the limitations are. Does a plan cover preexisting illnesses or specific illnesses? Is there a gray area for definite experimental surgeries or treatments? Knowing ahead of time will prevent you from jogging in to issues down the line.
9.Limits – If you’re concerned about serious illnesses & major surgeries, check the dollar limits on each business medical health insurance plan. Providers may cap the amount they’ll pay out in a year – or in a lifetime – & you require to be definite you’re not left paying the bulk of pricey hospital bills. Your employer may offer health savings accounts or flexible spending designs so you can supplement your coverage to prepare for these costs.
10.issue solving - Find out what the procedures are for resolving any business or coverage issues. you ought to be able to contest reimbursement levels in the event that they appear low or claim rejections in the event you have valid signs. Check the official complaint records from your state’s Dept. of Insurance to review grievances against a provider; avoid working with one that has lots of past complaints or outstanding grievances.
Friday, October 29, 2010
Private Health Insurance and Federal Reform
Major changes are coming to health care coverage in the United States. Learn how they affect your health insurance for individuals and families.
In what was one of the most controversial political debates in recent decades, Congress passed a health reform in March 2010. Nearly 2000 pages of the bill, the new law affects everything on tax policy for private health insurance policies. While some of the provisions of the Bill will come into force during 2010, most of the major changes, such as general health care mandate will be phased over the next four years.
How to Buy Health Insurance Today
Now families have two options to find private health insurance. They can participate in a group plan offered by an employer or other organization. The other option is to buy an individual health plan insurance.
Group insurance is usually cheaper than individual policies. When the group plans, insurers can spread their risk among many policyholders. While some policyholders may have chronic illnesses or are expensive emergency care allowance to compensate for healthy individuals who pay premiums but rarely have health coverage for medical treatment.
Most insurance plans are sponsored by the employer, but the alumni associations and business groups can also offer access to group policies for the benefit of membership. For families who can not find health insurance through work or other group insurance, individual health insurance may be your only option for a private health plan.
Unfortunately, individual health insurance quotes can be much larger than its coverage of the plan. Without a larger group to make up credits for individual health insurance plans often charge higher premiums. In addition to individual health care plans do not offer the same protection group health insurance, when it comes to pre-existing conditions. As a result, individuals and families with pre-existing conditions are often denied coverage, and must apply for the status of a large swimming pool, or go without medical coverage.
The Future of Private Health Insurance
Beginning in 2014, all citizens & legal residents of the United States will be necessary to maintain medical health insurance. Some families will be eligible for public health care under an expanded Medicaid program, but most will continue to use private medical health insurance.
While the healthcare debate included much discussion of generating a national medical health insurance, in the finish, the public option was not included in the final version of the health care reform bill. Although the bill does not generate a universal healthcare system run by the government, it does mandate national health coverage.
Businesses employing over 50 workers will be necessary to offer group insurance to their employees. Those that don’t comply face a $2,000 per worker fine. In addition, individuals & families who refuse to buy healthcare coverage in 2014 will even be fined. The fine amount will increase yearly until it reaches $695 per individual, $2,085 per household or 2.5 percent of the household income, whichever is greater.
To help offset the cost of private health insurance, the government will provide subsidies for families earning between 100-400 percent of the federal poverty level. Families earning less than the poverty level are eligible free health insurance through state Medicaid programs.
Health insurance for individuals & families will even be available through government mandated exchanges. It is expected that the creation of state-run health insurance exchanges will, among other things, encourage competition & provide more opportunities for affordable health insurance.
Other changes affecting private health insurance are provisions that eliminate preexisting condition exclusions, cost-sharing for preventive care & healthcare coverage caps.
As federal and state governments start work to implement the provisions of national health care reform, there remain unanswered questions about the cost & Constitutionality of universal healthcare. However, like the passage of Medicaid & Medicare, it seems likely that the 2010 Patient Protection & Affordable Care Act will have an enduring impact on private health insurance in the United States.
In what was one of the most controversial political debates in recent decades, Congress passed a health reform in March 2010. Nearly 2000 pages of the bill, the new law affects everything on tax policy for private health insurance policies. While some of the provisions of the Bill will come into force during 2010, most of the major changes, such as general health care mandate will be phased over the next four years.
How to Buy Health Insurance Today
Now families have two options to find private health insurance. They can participate in a group plan offered by an employer or other organization. The other option is to buy an individual health plan insurance.
Group insurance is usually cheaper than individual policies. When the group plans, insurers can spread their risk among many policyholders. While some policyholders may have chronic illnesses or are expensive emergency care allowance to compensate for healthy individuals who pay premiums but rarely have health coverage for medical treatment.
Most insurance plans are sponsored by the employer, but the alumni associations and business groups can also offer access to group policies for the benefit of membership. For families who can not find health insurance through work or other group insurance, individual health insurance may be your only option for a private health plan.
Unfortunately, individual health insurance quotes can be much larger than its coverage of the plan. Without a larger group to make up credits for individual health insurance plans often charge higher premiums. In addition to individual health care plans do not offer the same protection group health insurance, when it comes to pre-existing conditions. As a result, individuals and families with pre-existing conditions are often denied coverage, and must apply for the status of a large swimming pool, or go without medical coverage.
The Future of Private Health Insurance
Beginning in 2014, all citizens & legal residents of the United States will be necessary to maintain medical health insurance. Some families will be eligible for public health care under an expanded Medicaid program, but most will continue to use private medical health insurance.
While the healthcare debate included much discussion of generating a national medical health insurance, in the finish, the public option was not included in the final version of the health care reform bill. Although the bill does not generate a universal healthcare system run by the government, it does mandate national health coverage.
Businesses employing over 50 workers will be necessary to offer group insurance to their employees. Those that don’t comply face a $2,000 per worker fine. In addition, individuals & families who refuse to buy healthcare coverage in 2014 will even be fined. The fine amount will increase yearly until it reaches $695 per individual, $2,085 per household or 2.5 percent of the household income, whichever is greater.
To help offset the cost of private health insurance, the government will provide subsidies for families earning between 100-400 percent of the federal poverty level. Families earning less than the poverty level are eligible free health insurance through state Medicaid programs.
Health insurance for individuals & families will even be available through government mandated exchanges. It is expected that the creation of state-run health insurance exchanges will, among other things, encourage competition & provide more opportunities for affordable health insurance.
Other changes affecting private health insurance are provisions that eliminate preexisting condition exclusions, cost-sharing for preventive care & healthcare coverage caps.
As federal and state governments start work to implement the provisions of national health care reform, there remain unanswered questions about the cost & Constitutionality of universal healthcare. However, like the passage of Medicaid & Medicare, it seems likely that the 2010 Patient Protection & Affordable Care Act will have an enduring impact on private health insurance in the United States.
Tuesday, October 26, 2010
Find an Affordable Way to Invest in Life
Quote life insurance is perhaps the easiest and most effective for you to find affordable life insurance, you can simply compare the rates of life insurance and save money. Life insurance is a form of protection, which provides families with the necessary funding in a difficult period in their lives, the loss of a loved one. The pain that comes with losing a family member is hard, even harder when the member is the primary source of income or financial issues left unresolved. Factor in shopping for life insurance quotes, you may find a cheaper plan.
Shopping online life insurance quotes to ensure you have so much information at your disposal to make an informed decision. If you have the most current available rates for life insurance, there is more chance that you can choose a provider and policy that will give you what you want, but costs less. Several insurance agents contact you (by phone or e-mail, usually) and provide life insurance quotes at competitive prices. Knowing that other life insurance agents are competing for your business can make insurance companies offer cheaper quotes life insurance can.
Life insurance guarantees that if you pass, you provider to provide your family with the means to tackle financial obligations left behind, and to maintain quality of life. life insurance cover is a minimal cost compared to the value received. The average funeral costs $ 10,000. Your family can afford, and that your contribution to the economy? Looking for life insurance quotes can help you find affordable insurance, which protects the family in the future. Shopping for life insurance quotes to compare rates of life insurance can also save hundreds of dollars a year. Therefore, it is proposed to select a rate of life insurance each year.
Why Check Life Insurance Rates Annually?
Why not? Like other forms of insurance, there are tons of factors that can enhance or reduce significantly the cost of life insurance, so they are informed of current rates of life insurance allows you to control your finances. Many people could save hundreds of life insurance policy annually, if they just took a moment to look at prices up to date.
How can life insurance quotes help me find out which policy is right for me?
life insurance quotes you can compare life insurance rates similar. Every family is different: size, risk, need, are taken into account in determining how the policy is good for you and your family. When contacted by agents to provide life insurance quotes, to inform them of the life insurance needs of your family. A quote life insurance comparison is essential to determine which company can provide the level of protection you need, and more importantly, what your family deserves. When comparing life insurance quotes is the price of life insurance that fits you best.
Life insurance is to ensure that those leaving are financial security and resources needed to manage his business. Make sure you look at the life insurance quotes to find an affordable plan for you.
Shopping online life insurance quotes to ensure you have so much information at your disposal to make an informed decision. If you have the most current available rates for life insurance, there is more chance that you can choose a provider and policy that will give you what you want, but costs less. Several insurance agents contact you (by phone or e-mail, usually) and provide life insurance quotes at competitive prices. Knowing that other life insurance agents are competing for your business can make insurance companies offer cheaper quotes life insurance can.
Life insurance guarantees that if you pass, you provider to provide your family with the means to tackle financial obligations left behind, and to maintain quality of life. life insurance cover is a minimal cost compared to the value received. The average funeral costs $ 10,000. Your family can afford, and that your contribution to the economy? Looking for life insurance quotes can help you find affordable insurance, which protects the family in the future. Shopping for life insurance quotes to compare rates of life insurance can also save hundreds of dollars a year. Therefore, it is proposed to select a rate of life insurance each year.
Why Check Life Insurance Rates Annually?
Why not? Like other forms of insurance, there are tons of factors that can enhance or reduce significantly the cost of life insurance, so they are informed of current rates of life insurance allows you to control your finances. Many people could save hundreds of life insurance policy annually, if they just took a moment to look at prices up to date.
How can life insurance quotes help me find out which policy is right for me?
life insurance quotes you can compare life insurance rates similar. Every family is different: size, risk, need, are taken into account in determining how the policy is good for you and your family. When contacted by agents to provide life insurance quotes, to inform them of the life insurance needs of your family. A quote life insurance comparison is essential to determine which company can provide the level of protection you need, and more importantly, what your family deserves. When comparing life insurance quotes is the price of life insurance that fits you best.
Life insurance is to ensure that those leaving are financial security and resources needed to manage his business. Make sure you look at the life insurance quotes to find an affordable plan for you.
Thursday, October 21, 2010
Can I Really Get Life Insurance, No Exam Required?
Term life insurance policies provide a limited coverage duration, which is determined by the policyowner owner. Term life insurance rates are actually the lowest priced type of life insurance, but there are different rates for different people. This is because four times the term of the policyowner is up you don't get any payout from the policyowner. in case you take out life insurance at a young age, you will get much better term life insurance rates than in case you wait until you are older.
The total cost of your term life insurance rates can be tricky. Some term life insurance policies appear to cost more, but may, in fact, be cheaper when you look at the total cost of the term life insurance policyowner. For example, annual renewable policies increase your premiums every year and thus may appear to be more costly than level term policies where the premiums never increase (although the preliminary premiums for a level term policyowner will be higher). But, in fact, level premium policies may involve higher costs over the policy's full term, and become costly when you try to renew your policyowner at the finish of the term. This is why you do must compare term life insurance quotes.
· Medical Record. in case you've a terminal illness, it is unlikely that any life insurance company will issue a policyowner. In the case of heart illness, you will get a policyowner but your rates will be high
a number of the factors that influence your term life insurance rates are: · Whether or not you smoke. Tobacco users are once as likely to die as non-tobacco users while they are insured. Life insurance firms take this in to account when they set their premium and funds benefits levels. you can save from 20% to 30% on premiums by quitting smoking.
· Occupation. in case you work in a dangerous occupation, such as working on a ship that carries gas, this will put you in to a higher bracket when it comes to getting rates for term insurance. You will must shop around to compare term life insurance quotes in case you are in this category.
Term life insurance rates vary a lot, and you can do something about your premiums by taking some decisions to become more healthy, like giving up smoking.
The total cost of your term life insurance rates can be tricky. Some term life insurance policies appear to cost more, but may, in fact, be cheaper when you look at the total cost of the term life insurance policyowner. For example, annual renewable policies increase your premiums every year and thus may appear to be more costly than level term policies where the premiums never increase (although the preliminary premiums for a level term policyowner will be higher). But, in fact, level premium policies may involve higher costs over the policy's full term, and become costly when you try to renew your policyowner at the finish of the term. This is why you do must compare term life insurance quotes.
· Medical Record. in case you've a terminal illness, it is unlikely that any life insurance company will issue a policyowner. In the case of heart illness, you will get a policyowner but your rates will be high
a number of the factors that influence your term life insurance rates are: · Whether or not you smoke. Tobacco users are once as likely to die as non-tobacco users while they are insured. Life insurance firms take this in to account when they set their premium and funds benefits levels. you can save from 20% to 30% on premiums by quitting smoking.
· Occupation. in case you work in a dangerous occupation, such as working on a ship that carries gas, this will put you in to a higher bracket when it comes to getting rates for term insurance. You will must shop around to compare term life insurance quotes in case you are in this category.
Term life insurance rates vary a lot, and you can do something about your premiums by taking some decisions to become more healthy, like giving up smoking.
When You Can't Pay Your Life Insurance Premium
Unforeseen expenses can catch you short sometimes. There comes a day when the children need braces, the automobile needs a brand spanking new transmission, the college bills come due or there's a medical emergency. Out-of-the-ordinary expenses can tip the budget out of balance and leave you searching for ways to keep your income and outgo in sync.
Then your life insurance premium notice arrives. What do you do?
It's lovely to know the feasible consequences of not making a premium payment on your life insurance policy. The effect depends on the type of policy and coverage you have and the policy terms and conditions. With a term policy, if you cease paying premiums, your coverage lapses. With permanent policies, many types of contracts let you choose to allocate funds value to pay premiums.1 Depending on the policy and amount of funds value, the result could be a significant reduction in funds value over time, decrease in death benefit and, finally, policy lapse.
Note: Some policies are designed with flexible premiums, so that policyowners have the choice to pay more or less than the recommended premium or to skip premiums from time to time. Even with these policies, however, policyowners should check with their agents before suspending premium payments for extended periods because there has to be funds value to pay the monthly charges to prevent a policy lapse.*
The largest concern: If you cease paying premiums and let your policy lapse, you would lose valuable protection, possibly leaving your relatives at financial risk. often, life insurance is the linchpin, the link that can automatically complete your estate if you die prematurely. Death benefit proceeds from a life insurance policy can provide the liquidity to settle final expenses, pay off debts and — at the maximum — give surviving relatives members "breathing room" to adjust.
1 Premiums are paid by using non-guaranteed policy values. A reduction in the applicable dividend scale or interest crediting rate for the policy may lead to further out-of-pocket funds premium payments being made necessary.
* See policy terms and conditions
Before you choose to skip premiums or let your policy lapse, ask yourself these questions:
Why did I buy this policy? Was it to help protect my family's future by replacing my income if I died prematurely? Make positive schooling funds are available for my children? Retire the mortgage or pay off other debts? If these goals still exist, would you like to jeopardize your life insurance?
Have my needs or situation changed? Do I need less coverage? More? If so, you ought to think about adjusting your coverage. Let your new york Life agent know. There are a considerable number of viable options you can pursue that will enable you to keep your protection in force without putting your current finances under undue stress.
what are my options? you have a number. For example, if you are paying a semiannual or annual premium, perhaps you would find it not as hard to budget for a quarterly premium. Or you might think about automatic monthly bank deductions. The point is that you do have options.2
Other concerns: If you require to receive new coverage later...
You will likely pay more for the same coverage. A key factor in premium rates is your age. The older you are at the time of issue, the higher your rate will be. In short, if you will need to buy coverage later, letting your policy lapse now could cost you extra funds in the long run.
You may not be able to get coverage again ...at any cost. If you experience health issues, you could become uninsurable. Under your existing coverage, changes in your health do not affect your premium. However, if you let your policy lapse and then apply for new coverage later, your health changes can mean the coverage would cost more (if you are rated as a substandard risk) ...or you could be denied altogether.
There could be tax implications if you actually cancel coverage and take the funds value. That's because any funds value in your policy has accumulated on a tax-deferred basis. However, if you terminate your policy and take the funds value (not the same as policy loans, which are usually not taxable), a portion of the funds value could be thought about ordinary income and be taxed at your current tax rate.
This material is being provided for informational purposes only. Neither new york Life nor its agents provide legal, tax or accounting advice. contact your own advisors for legal, tax and accounting advice.
Then your life insurance premium notice arrives. What do you do?
It's lovely to know the feasible consequences of not making a premium payment on your life insurance policy. The effect depends on the type of policy and coverage you have and the policy terms and conditions. With a term policy, if you cease paying premiums, your coverage lapses. With permanent policies, many types of contracts let you choose to allocate funds value to pay premiums.1 Depending on the policy and amount of funds value, the result could be a significant reduction in funds value over time, decrease in death benefit and, finally, policy lapse.
Note: Some policies are designed with flexible premiums, so that policyowners have the choice to pay more or less than the recommended premium or to skip premiums from time to time. Even with these policies, however, policyowners should check with their agents before suspending premium payments for extended periods because there has to be funds value to pay the monthly charges to prevent a policy lapse.*
The largest concern: If you cease paying premiums and let your policy lapse, you would lose valuable protection, possibly leaving your relatives at financial risk. often, life insurance is the linchpin, the link that can automatically complete your estate if you die prematurely. Death benefit proceeds from a life insurance policy can provide the liquidity to settle final expenses, pay off debts and — at the maximum — give surviving relatives members "breathing room" to adjust.
1 Premiums are paid by using non-guaranteed policy values. A reduction in the applicable dividend scale or interest crediting rate for the policy may lead to further out-of-pocket funds premium payments being made necessary.
* See policy terms and conditions
Before you choose to skip premiums or let your policy lapse, ask yourself these questions:
Why did I buy this policy? Was it to help protect my family's future by replacing my income if I died prematurely? Make positive schooling funds are available for my children? Retire the mortgage or pay off other debts? If these goals still exist, would you like to jeopardize your life insurance?
Have my needs or situation changed? Do I need less coverage? More? If so, you ought to think about adjusting your coverage. Let your new york Life agent know. There are a considerable number of viable options you can pursue that will enable you to keep your protection in force without putting your current finances under undue stress.
what are my options? you have a number. For example, if you are paying a semiannual or annual premium, perhaps you would find it not as hard to budget for a quarterly premium. Or you might think about automatic monthly bank deductions. The point is that you do have options.2
Other concerns: If you require to receive new coverage later...
You will likely pay more for the same coverage. A key factor in premium rates is your age. The older you are at the time of issue, the higher your rate will be. In short, if you will need to buy coverage later, letting your policy lapse now could cost you extra funds in the long run.
You may not be able to get coverage again ...at any cost. If you experience health issues, you could become uninsurable. Under your existing coverage, changes in your health do not affect your premium. However, if you let your policy lapse and then apply for new coverage later, your health changes can mean the coverage would cost more (if you are rated as a substandard risk) ...or you could be denied altogether.
There could be tax implications if you actually cancel coverage and take the funds value. That's because any funds value in your policy has accumulated on a tax-deferred basis. However, if you terminate your policy and take the funds value (not the same as policy loans, which are usually not taxable), a portion of the funds value could be thought about ordinary income and be taxed at your current tax rate.
This material is being provided for informational purposes only. Neither new york Life nor its agents provide legal, tax or accounting advice. contact your own advisors for legal, tax and accounting advice.
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