Health Insurance

Health care costs are high and getting higher. Who will pay your bills if you have a serious

accident or a major illness? With health insurance, you protect yourself and your family in case
you need medical care that has the potential to be very expensive.

There are several different types of individual health insurance. You can get fee-for-service, HMO or PPO plans, but you should know the differences and coverage limitations before making any purchase decision.

Policies differ widely in coverage and cost. Your agent will shop various policies to find the best one for you. He will make sure the policy protects you from large medical costs and does not contain any hidden exclusions or stipulations that you do not understand at the outset.

If your family includes just two adults, it is sometimes less expensive for each of you to have individual coverage than for just one of you to have a family plan. If you have children, or if you might have children soon, you need a family plan. Because situations change, it is important to review your health insurance regularly with your agent.

Cost is not the only consideration when buying health insurance. It is difficult to determine exactly what you will spend per year on health care. You do not know whether you will be sick 6 months from now and need an operation. You also need to consider the benefits of each policy - compare plans carefully for both cost and coverage with your agent.

Life Insurance

Life insurance is a crucial step in planning for your future and your family’s future. It can fulfill promises and obligations to your family if you are no longer living.

The death benefit is income-tax free and can be used to cover funeral expenses, repay debt, provide education, pay estate taxes or any other expenses your survivors may incur.

Life insurance may also be used to help ensure that a family business will pass to your intended survivor. There are also benefits to certain types of life insurance plans during your lifetime.

Retirement Plans

Retirement planning is essential to securing a level of comfort for you and your family when you retire. The most important steps to a happy retirement are saving and investing your money. After working for a long time, a big rest is exactly what you need. Whether you want to travel, pick up a new hobby, or just relax in your retirement, it's important to plan for those "golden years".

We can help you plan for your retirement years with a wide variety of investment vehicles and insurance products as shown below

IRAs

Individual Retirement Accounts were established by the federal government to encourage people to save for their retirement by providing a variety of tax advantages.

Traditional IRA

Contributions up to $2,000 annually may be deductible, and your earnings are not taxed until you start withdrawing money.

Roth IRA

For many people, a Roth IRA may offer greater tax savings and withdrawal flexibility than a traditional IRA. Eligibility depends on income.

Simple IRA

SIMPLE IRA plans are retirement vehicles, maintained on a calendar year basis, for small employers (no more than 100 employees earning at least $5,000 for the preceding year), which permits contributions under a qualified salary reduction agreement.

Annuities

Annuities can provide a series of payments that typically start at retirement and continue for the rest of the contract owner's life. Annuities can provide retirement income for either a fixed period of time or for the rest of an annuitant's life. Retirement income payments can begin immediately with the purchase of an annuity or be deferred to some time in the future.

401(k)

A 401(k) plan allows you to postpone receiving a portion of your salary until you retire. You choose the amount of income you'd like to "send to the future," or defer annually. Advantages of a 401(k) include:

Chance of lowering your income rate by deferring a portion of your taxable income.
Ability to access the money for certain situations like buying a house, college fees, or in some hardship situations.
Your Social Security contributions and benefits will not be impacted by your 401(k) plan.
Your account is transferable—so you can take it with you from job to job

Long Term Care

Long-Term Care has been defined as "medically necessary assistance, recommended by a physician for the treatment of a chronic illness or debilitating injury on a long term basis. Recovery is usually not expected. Care is oriented toward helping a person function, not toward a cure."

Long-term care is typically not covered by your health plan, disability coverage or Medicare. Medicaid does cover long-term care, but only after you have used up your assets paying for care.

Group Insurance

Health Insurance is one of your most important needs. Without it, one serious illness or accident could wipe you out financially. We offer information that will help you decide which is the best plan for you and your budget.

Most Americans get health insurance through their jobs or are covered because a family member has insurance at work. This is called group insurance and is generally the least expensive kind.

Some employers offer only one health insurance plan. Some offer a choice of plans: a fee-for-service plan, a health maintenance organization (HMO), or a preferred provider organization (PPO). These plans differ in significant ways and can be explained in detail by our agent.

Not all employers offer health insurance. You might find this to be the case with your job, especially if you work for a small business or work part-time. If your employer does not offer health insurance, you can buy an individual policy, however, you should utilize your agent to compare your options and shop carefully for the best coverage for you.

For Your Employees:

At Smith Insurance, we know that a company is only as good as its employees. An employee who is well cared for and treated with dignity and respect will be grateful and productive. Furthermore the employee will go the extra mile to help a company achieve its long term goals. Because of this, it is important to show your employees your appreciation by providing them with the best health insurance and investment support.

Providing your employees with group health insurance is an excellent way to ensure their safety and their morale. Much like individual health insurance, group insurance comes in all shapes and sizes and figuring out the correct one for you can be tricky. Visit our Group Health Insurance section to learn more about what we offer and how to get in contact with an agent who will guide you towards the best policy for your company. Keep in mind, group health insurance is generally available at less expensive rates than individual health insurance. Request a group company health insurance quote today to see just how much you can save.

Just like preparing yourself and family for whatever challenges the future may hold in terms of health, your employees should be equally considered for Long Term Care. Long Term Care differs from regular health insurance in many ways and is not covered by most traditional programs. However, it is still a very important and wise investment, which will make your employees extremely appreciative. Long Term Care insurance focuses on making sure that your employees and their families have access to the right care and support needed when they or a family member become unable to perform the basic activities of daily living. To learn more about this very important safety net, please read our Long Term Care Insurance section.

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