Frequently Asked Questions

A deductible is an amount that you're responsible for in the event of a loss. This is the amount you pay out-of-pocket, and insurance covers the remainder.

The most useful way to answer the question of whether you, specifically, need life insurance is with another question:

Would your death financially impact the people in your life?

If the answer is yes, then you should consider life insurance.

Life insurance is a contract between you and an insurance company, where you pay insurance premiums in exchange for the insurer’s commitment to pay a “death benefit” to specific people or organizations if you die while the policy is in effect.

The people who receive this death benefit — which could be your spouse or children, for example — can use the money to cover their financial needs, whether that’s paying household expenses or covering debts.

Medicare is the federal health insurance program for:

• People who are 65 or older
• Certain younger people with disabilities
• People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)

The comprehensive health care reform law enacted in March 2010 (sometimes known as ACA, PPACA, or “Obamacare”).

The law has 3 primary goals:

• Make affordable health insurance available to more people. The law provides consumers with subsidies (“premium tax credits”) that lower costs for households with incomes between 100% and 400% of the federal poverty level (FPL).
  • If your income is above 400% FPL, you may still qualify for the premium tax credit in 2022.
  • If your income is at or below 150% FPL, you may qualify to enroll in or change Marketplace coverage through a Special Enrollment Period.
• Expand the Medicaid program to cover all adults with income below 138% of the FPL. (Not all states have expanded their Medicaid programs.)
• Support innovative medical care delivery methods designed to lower the costs of health care generally.