INSURANCE
A SINGLE PICTURE
All insurance has this single diagram.
• You pay premium, it is a negative cash flow (in red)
• You start receiving benefits (in green), under certain conditions. Car accident, require healthcare services: these are simple examples. The angle is determined by the insurance contract.
• The benefits you receive are usually capped (in blue), it can be called the Maximum Benefit Amount, depending on the contract.
Many types for many reasons
We are expert in describing the diagram above, and fitting it to your needs and your situation.
Here are some simple examples.
- Life insurance that pays if the Insured passes away.
- Health insurance that pays if you require healthcare services. Medicare is a subset of health insurance.
- Dental / vision coverage: pays if you require dental services or eye exams / eyeglasses.
commonly used terms
Premium: A premium is the amount of money the insured pays to the insurance company to obtain and maintain an insurance policy. It is typically paid on a monthly, quarterly, or annual basis.
Deductible: A deductible is the amount of money that the insured must pay out of pocket before the insurance company starts covering the remaining costs. It is a common feature in many insurance policies, such as health insurance and auto insurance.
Co-pay: A co-pay is a fixed amount that the insured pays out of pocket for certain covered services or expenses, typically in health insurance. It is a cost-sharing arrangement between the insured and the insurance company.
Coinsurance: The sharing of costs between the insured individual or business and the insurance company after the deductible has been met.
Define what you seek…first
Most of the confusion around insurance is the result of the fact that you need to correctly, and specifically, define what benefits you are seeking, and under what situations you are seeking to receive these benefits.
From there, we will be able to identify what products are available.
Too frequently, we find that people do not have a good idea of what they are seeking. For that, you can ask us, so that we can help narrow down among the vast array of insurance types and policies.
Our fiduciary responsibility
We have one mission, and one mission only.
That mission is to understand and find the benefits that you seek, at a price that you can afford. We want you to be satisified with the reasoning that you are using your money. We want you to have the correct, accurate knowledge of when you will receive benefits, how much those benefits will be, and when you will receive those benefits.
We will do what it takes to earn your trust in our services.