Health Insurance Arkansas AK
Reader’s Question:
I need to purchase a private health insurance for my 22 year old son who is already in college. We are from Arkansas. What should I purchase if I want a plan with a choice of doctors which also reimburses for medical care in other states? Should I pick the university health insurance instead?
Brooke
Jonesboro, AR
Hello Brooke!
I remember being on the same boat in the past when our son, Dilan, was still in college, too in Arkansas. Back then, Dilan was covered both through college health insurance (HMO style, which was expensive and convenient with an on-campus clinic) and through our own family’s health insurance policy. Since Dilan was very actively participating in sports programs, he had 2 episodes of memory lapse, black out, and difficulty in breathing. He had to go to the on-campus clinic and was found out that he had no problem at all (he was already in a non-stress physical condition at the time of the checkup). He was told he probably just hyperventilating (too much oxygen) and that he had to wear a mask during his strenuous physical activities to keep his oxygen level from going too high. The coach however, decided he should see a “real doctor”,
Now since the college medical insurance plan was an HMO style, he had to get referral to see a skilled practitioner in sports medicine. My husband and I had to intervene from a distance to help through the appeal such that my son would get the medical attention by an expert, which I think he already needed at that time.
I finally decided we use our family’s health insurance. By doing that, my son was immediately attended by a sports medicine specialist. It was a great sports medicine facility with renowned sports medicine staff. The cause of his problem was quickly determined, which tuned out to be a defect in his heart resulting to his referral to a cardiologist.
Lesson learned? HMO structure can sometimes be cumbersome in emergency situations. Individual health insurance policies are still almost always better.
Life Insurance Little Rock Arkansas AR
Reader’s Question:
Is there any insurance company that will let me use my death benefit while I am still living in Little Rock Arkansas?
Philip
Little Rock, AR
Hi there Philip.
Yes, there are some life insurance companies that have made available a “living benefit”. A living benefit is an advance withdrawal of funds from your life insurance policy. Such amount withdrawn would be payable at the time of your death.
When is it useful?
In the event that you are terminally ill, the living benefit provision provides fund from your life insurance policy. Although, bear in mind that each life insurance policy will have specific terms and conditions on this benefit. Some policies provide this benefit in case you will be confined in a nursing home. The amount varies for every life insurance company in Arkansas.
However, such living benefits paid under these riders will certainly reduce the benefits payable to your beneficiary upon your death. Congruently, you will get less than the original amount, but will be your last resort to cover the cost of your care. Most companies will automatically attach this as a rider to your policy without any extra charge.
You can try to search more information about this benefit from your local insurance agent in Little Rock, or try to shop around from the internet for more information.
Cheap Smoker Life Insurance Rate AR
Reader’s Question:
Will I still get cheaper life insurance rates in Arkansas even if I am a smoker?
Kate
Little Rock, AR
Good question, Kate.
I know you don’t want to quit too soon. But certainly, be aware that non-smoker insurance in Arkansas is normally 30-50% cheaper than smoker insurance. If you can’t quit any sooner though, you don’t have to despair because most insurance companies still have special rates to some classified smokers.
The cheaper insurance rates for smokers are called preferred smoker rates. Some top-rated life insurance companies offer cheaper rates to cigar or pipe smokers while some companies offer special rates for smokeless tobacco users. Every insurance company has varying terms and conditions. You search from the internet using either of the following search phrases: cigar/pipe smoker life insurance rates, or smokeless tobacco smoker life insurance rates.
Most companies in Arkansas will offer non-smoker rates to cigarette smokers for a period ranging from 2-4 years. You can continue at the cheaper non-smoker rates by quitting during that period and submitting certain requirements requested by the company.
Try searching for preferred smoker rates in your area from free quotes. Simply type in your zip code on the space located in this page.
Cheap Life Insurance Arkansas AR
Reader’s Question:
A life insurance agent in Arkansas called me up and discussed some types of life insurance policies available for me to purchase. As this is my first time to purchase an insurance policy, are there many types? Which one is the cheapest life insurance policy?
Emma
Little Rock, AR
Well, there can be many types depending on features, but generally there are two basic types of life insurance policy: (1) term life insurance, and (2) permanent life insurance.
The cheapest life insurance policy and the most easy to understand in Arkansas is the term life insurance. It covers a specific period of time, as opposed to a permanent life insurance policy which does not expire and can even be used to pay estate taxes.
Many advisers recommend term life insurance over permanent. Term life usually costs a fraction of permanent and is guaranteed to be constant for the whole life of the policy (ranging from 5 to 30 years). The downside of term life is that coverage expires too when the policy expires. People with term life insurance who get ill often get the risk of higher premiums upon renewal, or worse uninsurable.
On the other hand, permanent life insurance should not expire and is sometimes used as a savings tool since it accumulates cash value. It can even be surrendered after a short period of time and policy holders may get a little from their investment.
Life Insurance Arkansas AR
Reader’s Question
My mother received a life insurance benefit two years ago from my father’s policy. The life insurance company in Arkansas is now calling her saying they made a mistake and that she has to pay them back. Apparently, they paid her someone else’s policy that had the same name as my father’s. Is she in any way obligated to pay the insurance company back? What can she do? The money is now tied up in annuities and she can not touch it. I live in Arkansas.
Dian
Little Rock, AR
Yes. She is obligated to pay the life insurance company back. Otherwise, she will be sued. Technically, insurance companies are allowed to make mistakes (certainly this one is a whopper!).
With regards to the money, annuities can be cashed in just like most other assets. She needs to ask the insurance company in Arkansas to provided documented evidence of such mistake. The Arkansas insurance company can send you the name and address and date of death of the person who died who has your father’s name so you can verify at the Social Security Death Index the truth of such claim.
To know whether or not it is a scam, you need to see specifics of the insurance policy in writing. Every correspondence you make with the insurance company should be documented in writing just in case it will reach court.
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