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Self Funded vs Fully Insured Healthcare Benefits


Sarah Friend, Employee Benefits Consultant at The Partners Group, explores the advantages of self-funded health plans (vs. fully insured health plans) as a cost-saving option and how more companies are able to seriously consider it as an option.

The Partners Group, with offices in Bellevue, WA; Bozeman, MT; Portland and Bend, OR; is an independent financial services, risk management, commercial insurance and employee benefit consulting firm. The Partners Group is locally owned with national strength due to being a founding member of Collaboration Centric Solutions (C2), the nation’s 5th largest privately held commercial insurance broker serving more than 1 million households in the United States. For more information, visit http://www.tpgrp.com . 503-241-9550 or 425-455-5640.

Understanding The Basics Of Whole Life Insurance

Whole life insurance is actually the oldest form of this kind of coverage. While these policies do provide a cash benefit that is payable on the insured person’s death, they also have the ability to grow a cash value. Part of this value comes from the excess premiums, over what is needed to provide insurance, and part of the value is because of some pre-determined rate of return on these contributions.whole life insurance quotes

With that said, the cash value of a whole life policy does not grow a value very quickly. It should not really be considered a form of savings, and it should mostly be considered because it is insurance. However, there are some advantages to cheap whole life insurance that you might want to consider:

  • Cash value: These policies can grow a cash value that may be borrowed against or even cashed in. In some cases, having this extra asset is very handy.
  • Settlements: Seniors, usually over 65, may be able to sell their permanent policy for some value that is a percentage of the death benefit. This will usually be a much larger amount than the cash value or the premiums paid in. These transactions are called senior life settlements.
  • Doesn’t expire: Term policies are very popular because they are much cheaper. However, they do expire at the end of the term set in the contract. Once this time expires, there is no value left in a straight term policy.

Why Consider Whole Life Policies?

There is no doubt that this kind of life insurance costs more than term. However, as mentioned above, there are some advantages. Also, it can get harder and harder to qualify for term life as people age, and small whole life policies may be easy to get for some people.

Finally, some people enjoy the comfort of knowing that their policy will never expire as long as the premiums are paid. Over the course of a few years, some of these policies can get paid off, and then the insured person can relax with the knowledge that they will always be covered.

Who Buys Whole Life Insurance Policies?

These might be a good choice for the very old and the very young. Young people are cheap to cover, so this gives their families a chance to lock in low rates. Older folks will probably find that most term policies either stop accepting applicants or offer very short term lengths after a certain age.

People in the middle, young adults with growing families, might be more likely to consider buying term. This is because the rates are low enough to allow them to afford a larger amount of coverage, and this is usually what people with a mortgage, young kids, and a spouse need. However, some may consider buying both a larger term policy and a smaller whole life policy as this is a good way to lock in lower rates. Either way, it pays to research different kinds of life polices before making a decision.


Are People Suffering From Bipolar Disorder Ineligible For Life Insurance?

In years past, bipolar disorder was not as understood and well-managed as it is today. Pairing this knowledge with the life insurance market, it was common for people to have issues obtaining life insurance policies, not just based on a bipolar disorder diagnosis but many other preexisting conditions. Of course some companies are more lenient than others, and as the world becomes more educated about certain conditions, the environment surrounding them begins to change. Therefore, if you’re sitting there believing the notion that you cannot secure a life insurance policy based on your being diagnosed as bipolar, think again. There is a way!

life insurance for people with bipolar disorderCertainly there are some heavy restrictions people are used to hearing about when it comes to life insurance for bipolar people and policy availability concerning people with mental health issues. There are many company executives speaking up about the lack of other companies in the past and even the present that actually make an effort to make it easy on those afflicted with bipolar disorder to obtain a policy. In fact, there are over 5 million people in the country who are bipolar. So are they to be denied a chance at life insurance?

Another way to look at 5 million people in the US is by stating that almost 2 percent of the entire nation has this disorder. Therefore, the smart life insurance companies are finding ways to provide them with life insurance, which is of course the sensible thing to do.

Getting a Bipolar Life Insurance Policy

If you have bipolar disorder and are looking for a life insurance policy, you definitely want to ensure you’re receiving adequate care. The care you’re receiving as well as the severity of your disorder is going to dictate how easy it is for you to obtain a policy. Remember there are two types of this disorder as well, which has everything to do with all the specific with underwriting your policy.


A Brief Review Of The Monumental Life Insurance Company

In today’s society there are so many different types of insurance to consider – health insurance, car insurance, home insurance, and life insurance.  While some of us may throw our hands in the air and choose to ignore the policies, it is recommended that you take some time to consider the different insurance plans as they can offer financial security.  Problem is, where do you begin considering the vast amounts of insurance companies available for perusal?

monumental life insurance company reviewWhen looking for a trustworthy and reliable insurance company, it is always important to find one that provides you with a variety of policies and meets your unique needs.  However, there are some disadvantages to having a large platter of policies from which to choose as they can sometimes become confusing and you may land up choosing a totally inappropriate plan.  This is why it is important to choose a reliable insurance company.

Monumental Life Insurance Company has been noted as one of the most popular and well-known insurance companies on the market.  It is a member of the AEGON Insurance Group and is currently ranked as one of the largest insurance services worldwide.

The policies one will discover with the Monumental Life Insurance Company are personalized to meet your needs which will offer your family financial protection when you pass away.  This ensures that they will not be left with any unforeseen debt or financial burden as the policy offers a lump sum payment covering the funeral costs and other expenses.  Some policies will also provide a further amount to support the bereaved for a certain time period while they ‘get back on their feet’.

Choosing a life insurance policy can be a tricky process, but it is recommended that one complete this act.  It will not only provide your family with financial security, but also give you piece of mind.


The Basics Of Getting Your Finances In Order


Out of the many things that can get you down in life, nothing is more emotionally draining than having messed-up finances because it threatens your very ability to thrive and survive in this world. If you’re having money problems, just know that like everything else, it’s something that can be solved rather easily. However, it does require financial literacy and self-discipline. In this article, we’re going to introduce you to the most basic financial principles towards financial freedom: getting out of debt.

Because of the country’s emphasis on consumerism, it’s become really easy for anyone to get in debt, especially credit card debt and high-interest loans. If you have debt and yet you have this burning desire to not be saddled with it, pay off your debts in the order of high-interest debts to low-interest debts. 

Talk with your creditors about working out a payment plan that won’t interfere so much with your monthly budget. While the idea of dealing with your creditors may be alien to you, it is actually something that you can do and should do. 

There are support groups out there that help people to become debt-free by working with creditors. You can find these groups on Google. 

In order to get out of debt, there are two things you can do – either you increase your income or you spend less than you earn. The idea is to have the extra cash to pay off your high-interest debt fast. Increasing your income shouldn’t be a problem as there are there are many work-from-home business ideas out there that you can start to work on. 

It’s also important to have a deadline for when you’re going to finish paying off all your debts. Setting a date will inspire you to do the necessary work to become financially free.