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Life & Health Insurance Information
Lubbock Life & Health Insurance
Personal health and wellness are hugepriorities to most people, particularly those who have a family to look after. Your own security can have a big impact on others, and you want your family to be able to afford any critical wellness services in case you get sick, become disabled or even pass away.
There are many personal benefits that you and your family might need. However, the key is to get the package of benefits that offers you the most effective protection.
Lubbock residents trust Lone Star Insurance Group with all their insurance needs, and we’re dedicated to providing quality services to every member of our community.If you have questions about your insurance needs, or are ready to buy your coverage, all you must do is call us at (806) 796-3834 or request a quality life insurance or health insurance quote online now.
Our Health & Wellness Benefits
There are many benefits that you might be able to use in your personal life. These include both life insurance & health insurance.
The key is to choose the right options now so that you won’t have to worry about going without them later. It’s often difficult to know how your personal finances, health and living conditions will change in the future. However, a well-made personal insurance portfolio can help you plan for any eventuality.
If you have questions about what benefits are best for you, then keep reading. Our agents are happy to guide you through the process of choosing the right coverage.
How does life insurance work?
When you buy life insurance, you essentially insure your family against the financial risks brought by your death. On the policy, you become the insured party,and the policy agrees to pay a death benefit to a designated beneficiary in the event of your death.
Many people use life insurance as part of their estate plan. With the death benefits provided by the policy, your survivors will be able to use the money for a variety of costs, such as:
If you want your policy to go to a specific purpose, you can name a trust as the beneficiary. The death benefit will enter the trust fund upon your death and the beneficiary must disburse the money as stipulated by the trust.
How many life insurance policies are there?
There are two general types of policies for which most people qualify:
Term Life Insurance: Term life policies last only for a set number of years. You might buy this coverage if you want the death benefit to go to a specific purpose, such as a child’s education. Once the policy expires at the end of the term, you will have to enroll in new coverage.
Another type of policy called universal life insurance functions similar to a whole life policy but allows more flexibility than the terms of the whole life policy.
We recommend talking to one of our agents about which life insurance policy is best for you when you enroll. We can review your financial goals, budget and plans for your coverage to help you choose the policy that is your best option for coverage.
Can I cash in a life insurance policy before death?
If you have a whole or universal life insurance policy, your plan will offer an investment account that accumulates cash value over time. A portion of your premium acts as an investment, and as your account accumulates value, you can draw on this money as a source of income in retirement.
Can I increase my term life insurance?
You cannot increase your term life policy’s death benefit after enrollment. However, you can choose to convert your term policy to a whole life policy, or you can buy a separate term policy for an additional benefit.
What benefits can I receive from health insurance?
Strong health insurance is a key to being able to stay healthy throughout your life. Your policy can provide benefits for:
Inpatient hospital services
Preventive services & vaccinations (often at no cost)
Routine medical appointments
Some policies offer dental and vision benefits, too. There are numerous plans on the market, but our agents can work with you to find the one that best fits your care needs.
What costs do I pay for medical care with health insurance?
Under your health insurance plan, you will pay for certain costs out of pocket, while your insurance will pay for the remaining costs of your care:
Deductibles are an amount of money that you must pay for your health care costs before your insurance plan will pay. However, you can receive many types of covered care without having to pay your deductible first.
Copayments are small fees that you pay for your portion of covered care.
Coinsurance are a portion of certain care that you must pay yourself. Your plan might agree to pay for 70% of a procedure while you will pay the remaining 30%.
Different services will have different cost obligations. You will also be able to receive certain care, such as vaccinations or preventive health screenings at no cost.
What is a hospital network?
Your plan will likely include a care network, which is a system of physicians and hospitals that will offer the policyholder the most affordable care options. When you receive care in your network, you will pay the lowest prices for the services you receive.