Blog - Insurance

  • Home
  • Blog - Insurance

Insurance : Insurance Extras

Not every insurance extra is necessarily a deal. If you want some good coverage without spending every last nickel you have, this is what most experts would tell you to get – and what you can skip.

What to skip. Insuring your children. "Some agents will try to sell an add-on of life insurance on the kids that will cover the kids up to a designated amount of usually $5,000 to $25,000 in the event they die," says Derek Benavides, an agent and branch owner of TWFG-Benavides Insurance in Brownsville, Texas.

Why? Benavides makes the point that many insurance experts make. Your kids probably aren't contributing anything meaningful to your household income, he says, and that's the point of life insurance, to replace a family's income if something happens to one of the revenue earners.

If you're worried about something happening to your kids and not having the money for a funeral, Benavides says he understands and wouldn't try and talk you out of it, but he would point out that the odds of something happening to a minor are generally slim, and if you're that concerned, you'd still be better off socking away the funeral money into a savings account.

What to get. Danise feels that there are two add-ons you'll want to look at.

Accelerated death benefit. You can access the death benefit while you're still alive, if you become terminally ill, Danise says.

"This can be a crucial safety net for paying medical bills," she says, adding that it's worth asking about. You may be able to add it for no charge or a low cost.

Critical illness rider. "A critical illness rider lets you tap into your policy's death benefit if you develop a severe condition, such as cancer or a stroke," Danise says. "The money can be used for anything – living expenses, medical bills or anything else. This rider is best for people who wouldn't be able to pay basic expenses if they developed a severe condition."

It isn't a bad idea. Every year, over 795,000 people in the U.S. have a stroke, according to the Centers for Disease Control and Prevention, and 130,000 people die from one. So if you can buy a critical illness rider, it may be worth it – provided you can get one without a jaw-dropping price.

Accidents can happen anywhere at any time and often they derail our lives in the blink of an eye. While we may not be able to control the world around us, we can control the protections in place that guard our family against the unexpected. Accident insurance south Florida does just that.

Accident Insurance provides a cash payout to those who experience injury or death resulting from an accident. Policies differ in terms of payout amounts, premiums, as well as what types of accidents and events are covered. Whether you’re interested in car accident insurance, travel or work-related accident insurance, or more general coverage, Gordon Light will work with you personally to review the options and craft a plan that suits your needs.

 Why Buy Accident Insurance in South Florida?

Even if you have health insurance, you may face out-of-pocket expenses including medical bills, ambulance fees, transportation and lodging charges etc. Accident insurance protects you from these unexpected expenses and fills in the financial gaps.

Payouts vary according to the severity of the injuries and are designed to cover not only medical expenses, but also pain and suffering, as well as living expenses in the event of permanent disability.

Accident insurance provides coverage for a variety of different situations, including:

  • Surgery
  • Ambulance and transportation
  • Lodging
  • Initial care
  • Follow-up medical visits

You can’t guarantee that accidents won’t happen. What you can guarantee is that you have a financial safety net in place to protect you in case they do.

You can’t guarantee that accidents won’t happen. What you can guarantee is that you have a financial safety net in place to protect you in case they do.

If you’re interested in receiving a free online accident insurance south Florida quote, or would like to discuss your options with Gordon personally, we invite you to give him a call today at (954) 415-6453.