Life and Health

As with all insurance, life insurance plans are about preparing for the unexpected. We don’t plan to have a heart attack or meet an untimely end. We may fret about the unforeseen, but there are few ways to prepare for it. Life insurance provides a way to be prepared and get peace of mind.

The main reason to buy life insurance is for financial protection for your family and dependents. If you are the sole income earner or the major provider in your family, then life insurance definitely makes sense. If you should die unexpectedly, your policy will help your loved ones pay your final expenses and potentially receive ongoing support. The amount they receive will depend upon the size of policy you buy.

The federal Affordable Care Act requires that all Americans (with few exceptions) buy health insurance, or be subject to a tax penalty. That penalty could be considerable percentage of your household income.

Having health insurance is the best way to protect your family from high medical bills. If someone in your family gets sick or is injured, hospital costs could quickly reach thousands — or hundreds of thousands — of dollars.

You can only sign up for health insurance during open enrollment. Open enrollment for health insurance marketplace plans is usually around the beginning of November to mid December. Outside of that time window, the only way to buy individual health insurance is to qualify for a special enrollment period.