Wednesday, October 28, 2015
Friday, October 23, 2015
Thursday, October 15, 2015
HMOs Versus PPOs: Understanding Your Options In Health Insurance
HMOs Versus PPOs: Understanding Your Options In Health Insurance
Choosing the right insurance for you and your family can be a difficult decision, and the terminology used in policies, especially in the health insurance market, can make the options available even more complicated. If you are considering health insurance options, understanding the difference between HMOs and PPOs can help make the choice easier and clearer. This article will help you understand the difference between these two popular health insurance options and determine which is best for you.
HMOs
HMOs, or Health Maintenance Organizations, are prepaid health plans that offer comprehensive medical coverage in exchange for a monthly premium. The care you receive is limited to healthcare providers and institutions that have an agreement with the HMO you select, and so this limits where you can receive healthcare and from whom, except in the case of an emergency. These types of plans usually also include a small co-payment for most expenses such as doctor's visits or hospitals stays, and depending on the type of coverage you select it may or may not include prescription drugs. The costs associated with HMOs are usually more predictable than other options.
PPOs
PPOs, or Preferred Provider Organizations, are more of a subscription type healthcare option than a comprehensive medical plan. This type of coverage gives you a discounted rate for healthcare from the specific providers associated with your PPO, and they act as a middle man between you, the insured, and the healthcare provider. In general these plans offer more flexibility in coverage, as you do not need a Primary Healthcare Provider, and you can see doctors out of network and still receive coverage, though at a higher premium. Most PPOs have higher annual deductibles and larger co-payments.
There are definitely benefits to both types of health insurance plans. Consider your options carefully and choose what makes sense for you and your family.
Lehn & Vogt Insurance and Financial Group
2980 S McCall Rd Suite E
Englewood , FL 34224
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Wednesday, October 14, 2015
How Much Life Insurance Do I Need?
How Much Life Insurance Do You Need?
Figuring out how much life insurance you need to carry can be confusing. It really depends on a few factors, and there are a few simple methods you can use to determine how much you should carry. At the most basic, there is a minimum amount of life insurance you should carry if you want those left behind to avoid a struggle. Beyond that, you really can't have too much insurance, so add more as you can afford it. But remember, the younger you are when you take out your policy, the more affordable it will be.
Who Will Be Left Behind?
Who will be left behind when you pass away is one of the biggest considerations as to how much life insurance you need. If you are married but have no children, and your spouse has a good source of income, you might not need as much insurance as someone who is the main breadwinner. Each child you add to the mix means more insurance you will need to ensure they are cared for if you are gone. You also need to consider whether you want to provide for college educations for your children or if you are simply aiming to meet their basic needs.
Your Annual Income
How much you make every year is a good starting point to determine how much your family will actually need to survive without you. If you are the sold earner in the family, then you know that your income is enough to keep the family at the current lifestyle they are used to. Many agents recommend that you provide at least 5 times your annual income in life insurance, which provides your family with approximately 5 years of income to recover and find a new source of funds.
Mortgage Protection Coverage
Will your family be able to pay the mortgage on your home after you are gone? If you don't want them to lose their home, providing enough life insurance to pay off the mortgage is a good idea. This is often recommended on top of the annual income you will provide to your family.
Life Insurance Calculators
There are a number of excellent life insurance calculators available online, and your insurance agent can also provide this service. With a small amount of information regarding your finances and income, these calculators make it easy to determine just how much insurance you should take out. Remember that while life insurance may seem like an unnecessary expense, your family's future may depend on it. Make sure you have enough so that you will be prepared for an unexpected tragedy.
Lehn & Vogt Insurance
2980 S McCall Rd Suite E
Englewood, FL 34224
Friday, October 9, 2015
Recent Rains Cause the Lack of Flood Insurance to Hit Close to Home
Recent Rains Cause the Lack of Flood Insurance to Hit Close to Home
by
Toni Logan
Even If You Don’t Live in a Flood Zone, All of Florida is Flood-Prone.
Florida's recent torrential rains and the flooding they caused are a stark reminder that it's not just hurricanes that can wreak havoc here in the Sunshine State.
Every Florida homeowner is one unrelenting rain storm away from a flood damaged home, whether they live near the coast or further inland (and no matter where you live in Florida, you’re no more than 60 miles away from the beach).
Did you know? Floridians filed more than twice as many flood claims with the National Flood Insurance Program in 2014 than Alabama, the second highest state on the list, and received more than twice as much in claim payments: $117,861,100 vs. $52,668,831 accordingly. (Share this)
Standard Florida home insurance policies do not cover damage caused by floods. But many homeowners are unaware that they need to purchase a separate flood insurance policy until the water recedes and they call their home insurance carrier – and by then, it's too late.
Only about two million of Florida’s nine million homeowners currently have a flood insurance policy. If you’re one of those currently using the “I’ll take my chances” method to prepare for flood damage, consider these facts, courtesy of floodsmart.gov:
Any water that enters your home from the ground is defined as a flood. Floods can be caused by a torrential downfall, a waterway (even a creek, ditch or levee) overflowing its banks, or any type of inundation or oversaturation. You don't have to live in a high risk area, such as near the coast, to be vulnerable. In fact, more than 20 percent of flood claims each year are filed by homeowners outside of high risk areas.
You might be wondering: What's the difference between water damage and flood damage? Your Florida home insurance policy covers the accidental and sudden discharge of water into your home. If a pipe from your washing machine or dishwasher bursts, your policy covers the resulting damage to your flooring and furniture. The key distinction between water damage and flood damage is how the water arrives. If it accumulates and travels over the ground, it's a flood. (Share this)
Any water that enters your home from the ground is defined as a flood. Floods can be caused by a torrential downfall, a waterway (even a creek, ditch or levee) overflowing its banks, or any type of inundation or oversaturation. You don't have to live in a high risk area, such as near the coast, to be vulnerable. In fact, more than 20 percent of flood claims each year are filed by homeowners outside of high risk areas.
You might be wondering: What's the difference between water damage and flood damage?
Your Florida home insurance policy covers the accidental and sudden discharge of water into your home. If a pipe from your washing machine or dishwasher bursts, your policy covers the resulting damage to your flooring and furniture. The key distinction between water damage and flood damage is how the water arrives. If it accumulates and travels over the ground, it's a flood. (Share this)
Lehn & Vogt Insurance has partnered with the nation's largest flood insurance provider, Wright Flood to provide federal flood insurance to Florida homeowners. Wright Flood is an industry leader known for exceptional claims response, flood insurance expertise and commitment at the time of flood loss.
Important to know: It takes 30 days for federal flood insurance to take effect, so make sure to discuss this important coverage with your agent before the next storm.
Lehn & Vogt Insurance proudly represents American Integrity Insurance.
Florida's recent torrential rains and the flooding they caused are a stark reminder that it's not just hurricanes that can wreak havoc here in the Sunshine State.
Every Florida homeowner is one unrelenting rain storm away from a flood damaged home, whether they live near the coast or further inland (and no matter where you live in Florida, you’re no more than 60 miles away from the beach).
Did you know? Floridians filed more than twice as many flood claims with the National Flood Insurance Program in 2014 than Alabama, the second highest state on the list, and received more than twice as much in claim payments: $117,861,100 vs. $52,668,831 accordingly. (Share this)
Standard Florida home insurance policies do not cover damage caused by floods. But many homeowners are unaware that they need to purchase a separate flood insurance policy until the water recedes and they call their home insurance carrier – and by then, it's too late.
Only about two million of Florida’s nine million homeowners currently have a flood insurance policy. If you’re one of those currently using the “I’ll take my chances” method to prepare for flood damage, consider these facts, courtesy of floodsmart.gov:
- Floods are the #1 natural disaster in the United States
- From 2010 to 2014, the cost of the average flood claim was nearly $42,000
- From 2005 to 2014, total flood insurance claims averaged more than $3.5 billion per year
- In 2014, the average flood insurance policy premium was about $700 per year
Any water that enters your home from the ground is defined as a flood. Floods can be caused by a torrential downfall, a waterway (even a creek, ditch or levee) overflowing its banks, or any type of inundation or oversaturation. You don't have to live in a high risk area, such as near the coast, to be vulnerable. In fact, more than 20 percent of flood claims each year are filed by homeowners outside of high risk areas.
You might be wondering: What's the difference between water damage and flood damage? Your Florida home insurance policy covers the accidental and sudden discharge of water into your home. If a pipe from your washing machine or dishwasher bursts, your policy covers the resulting damage to your flooring and furniture. The key distinction between water damage and flood damage is how the water arrives. If it accumulates and travels over the ground, it's a flood. (Share this)
Any water that enters your home from the ground is defined as a flood. Floods can be caused by a torrential downfall, a waterway (even a creek, ditch or levee) overflowing its banks, or any type of inundation or oversaturation. You don't have to live in a high risk area, such as near the coast, to be vulnerable. In fact, more than 20 percent of flood claims each year are filed by homeowners outside of high risk areas.
You might be wondering: What's the difference between water damage and flood damage?
Your Florida home insurance policy covers the accidental and sudden discharge of water into your home. If a pipe from your washing machine or dishwasher bursts, your policy covers the resulting damage to your flooring and furniture. The key distinction between water damage and flood damage is how the water arrives. If it accumulates and travels over the ground, it's a flood. (Share this)
Lehn & Vogt Insurance has partnered with the nation's largest flood insurance provider, Wright Flood to provide federal flood insurance to Florida homeowners. Wright Flood is an industry leader known for exceptional claims response, flood insurance expertise and commitment at the time of flood loss.
Important to know: It takes 30 days for federal flood insurance to take effect, so make sure to discuss this important coverage with your agent before the next storm.
Lehn & Vogt Insurance proudly represents American Integrity Insurance.
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