If you're one of the many who are not insured or under-insured, then an individual and family health insurance plan may be the answer to your health insurance needs.
Individual and family health insurance is health coverage specifically tailored to those not covered by employer groups or organizations. A broad selection of individual and family health insurance plans is available. Less expensive plans may provide coverage in case of a major accident or illness, while other plans may provide comprehensive coverage for all your healthcare needs.
• Dental Insurance • Individual Disability • Individual Health • Individual Life Insurance • Term Life • Universal Life • Whole Life • Individual Long-Term Care (LTC)
Individual Health Individual health insurance programs are designed for individuals and families who cannot obtain health insurance through an employer. Due to the continually rising cost of medical care, it has become more important to provide health insurance for you and your families. King Forman Insurance offers health insurance programs to individuals which offer extensive coverage as well as high-deductible programs which are designed to protect against catastrophic financial losses.
As an independent agency, The King Forman Insurance can provide insurance plans from numerous health insurance companies such as Humana, Aetna, United Healthcare, BCBS, & Unicare. With the health insurance market changing frequently, we are always on the lookout for quality, service-oriented insurance companies for our clients.
Individual Dental Insurance Dental Insurance is available to individuals and families that are not covered on group dental insurance. For people without dental insurance, cost often stands in the way of getting the care they need to maintain the health of their teeth and gums. Even for routine preventive care, a trip to the dentist's office could mean a substantial amount of money out of your pocket. Dental insurance is affordable and can be purchased for as low as $43 a month for full family coverage.
A copay plan has no annual maximum while coinsurance plans have annual maximum benefits of usually $1,000 per calendar year. Individual dental plans do have waiting periods for basic and major services so they are not designed for someone who intends on getting comprehensive dental work performed within 12 months of enrollment. A freedom-of-choice plan allows you to see any dentist you wish, however, you will save money by using a contracted provider.
Individual Disability Individual Disability Income Protection is a must for a business owner, and highly recommended for executives. If you are a business owner, you should consider purchasing both group and individual policies, if possible. As an executive, you should be sure to obtain group coverage if it is available. Only 43% of large companies provide group long term disability insurance.
Your chances are even less likely to get long term disability insurance if you work for a small company. The cost of a plan provided by your employer is usually less than you would pay for an individual disability policy and often you can get coverage automatically without having to qualify medically. If your employer doesn't provide disability insurance then you may want to consider an individual disability policy. Or, you may need a personal disability insurance policy to supplement an employer group plan. Be sure to check the group provisions carefully: How long does the group disability insurance coverage last? How much is the benefit? Does the disability insurance policy cover bonus and commission income? Will the coverage continue if you leave that employer?
A typical Individual Disability Income Protection plan starts to pay benefits after you have been off work for 1 to 6 months, and pays benefits for several years or until retirement age, depending on the policy.
Individual Life insurance Life insurance from King Forman Insurance Agency can help you secure your family's financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.
There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs:
Term Life Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 20 years. Other policy life periods are available, including 1 year annual renewable term.
Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.
Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.
Universal Life Universal Life is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments - i.e., the more you pay, the less time you will need to pay. Your premiums cover the insurance part also the savings or investment element and the expense part. The stated interest on the investment portion changes along with movement in interest rates; moves in 1/4 % interest steps are typical as banks and other financial institutions make similar moves.
Whole Life Whole Life Insurance provides permanent protection for the whole of life - from the date of policy issue to the date of the insured's death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy's life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child's education, or cash surrender value if the policy is ever cancelled.
Other Life Insurance Other Life Products for estate preservation or survivorship purposes are also available - i.e. life insurance benefits to cover federal estate taxes.
Individual Long-Term Care Long-Term Care is the type of care received either at home or in a facility, when someone needs assistance with activities of daily living, such as bathing and dressing due to an accident, an illness or advancing age.
Rising life expectancy means that the potential need for "long-term care" grows with every passing year of your life. The likelihood is that you or a member of your family will need long-term assistance due to a prolonged illness, a disability, or general deterioration of your health and ability to perform routine daily activities. Most long term care expenses are not covered by Social Security or Medicare, Medicare Supplement ("Medigap"), or private health insurance. Medicaid pays for nearly half of all nursing home care, but you must meet federal poverty guidelines and may have to "spend down" most of your assets on health care.
2604 Dempster St ◊ Park Ridge, IL ◊ King Forman Insurance Agency ◊ 847-298-0100