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The Intelligent Life Blog

Helping millions of Americans become educated
in making intelligent decisions around their life needs

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4 Ways To Cover Your Family’s Health Care Costs After You’re Gone

Jan 27, 2015 5:30:00 PM

The irony of good family health care is that the cost can be quite expensive, which can increase stress levels for many people. The stress factor skyrockets if you have to pay for out-of-pocket costs. Unfortunately, many families face this reality after the death of loved one, especially when those members die after facing a lengthy illness, forcing the family to worry about the financial impact of accumulated medical bills at a time when they should be grieving.

But term life insurance is an option to make sure this grim scenario isn’t in your family’s future.

1) Consider your long-term health care now: The truth is, no matter how proactive a person you are, no one wants to think about themselves in a nursing home or being cared for by a home health nurse, right? We’d all like to believe we’ll remain in tip-top health right up until the very end. But the above scenarios will be a reality for many adults in the future. Accounting for possible medical and long-term care costs now may mean your family won’t have to pay any outstanding bills at the time of your death.

2) Help your spouse pay for health care costs: After you’ve passed on, your spouse must pay for expenses on only one income. Paying for health care for the entire family with decreased funds is even harder. Factoring the cost of health care into your coverage and naming your spouse as a beneficiary, will ease the financial burden for him/her in the event of your death.

3) Keep your kids covered while they’re still in college: Speaking of beneficiaries, if you have children, you should consider naming them as beneficiaries as well, if only for health care reasons. Assigning money to your child as a beneficiary is a way for him/her to pay for their own care should you no longer be with them.

4) Think about the worst case scenario: This is a bit ghoulish to think about, but a few moments of being uncomfortable can give your family considerable peace of mind. Imagine that instead of meeting your demise in a sudden accident, you succumb over a lengthy amount of time to a disease. And that your health insurance doesn’t pickup 100% of the tab. You may want to consider the costs of paying for such an illness, including any associated fees, such as hospice care.

At IntelliQuote, we understand that health care costs can be quite expensive, and we only have you and your family’s best interest at heart. That’s why we do everything in our power to make sure that you use your term life insurance to protect yourself and your family today and for the future.

Looking to get a leg up on your family’s health care costs for the future? Visit our quote page and sign up to get a sneak peek at up to six quotes in just a few minutes.

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The Top 5 Reasons Why People Delay Buying Life Insurance (and How IntelliQuote Eliminates All of Them)

Nov 7, 2014 4:30:00 PM

“I’ll start researching life insurance--tomorrow.”

How many times have you uttered these words? When you’re pressed for time or just can’t be bothered, it’s really tempting to add this to tomorrow’s to-do list, isn’t it? Well, we have a solution that we think you’ll like.

In today’s blog post, we’ll breakdown why most people put off buying life insurance and why comparison shopping with us can kill your procrastination monster.

Life insurance is something that many people need. We know that you probably don’t consider it to be very exciting. But it may be one of the most critical purchases you’ll ever make, so we’re here to help you to arrive at the best outcome as quickly as possible.

1) Not enough time: Most of us try to cram as much as we can into the tiny amount of time that we’re given. One of the biggest reasons why people neglect purchasing life insurance is because they think the research time will take time away from something more important. At IntelliQuote, our quote engine produces multiple competitive term life insurance quotes in less time than it takes to stand in line for a Starbucks Frappuccino.

2) Do I really need this? “I just had a physical; I’m in great health.” “I’ve never been in an accident. I’m a great driver.” Walking out of your doctor’s office with a clean bill of health is reassuring, isn’t it? Unfortunately, reassurance isn’t a guarantee that you’ll remain healthy and problem-free. Tip-top physical health also doesn’t offer you protection from unforeseen accidents. Remember that life insurance isn’t for you, it’s for your family. What will happen to them if your worst case scenario becomes a reality?
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Newly Divorced? 4 Reasons Why you Need Life Insurance

Oct 20, 2014 6:00:00 PM

Divorce can be traumatic for some, but for others it can have its perks, such as reintroducing you to the bachelor or bachelorette lifestyle. Now that your children are grown and out of the house, your disposable income is no longer going toward a college savings fund or a new car for Susie. After your bills are paid, you are free to splurge on whatever you choose – like a luxury cruise, a new wardrobe or a golf getaway.

The world awaits, right?

Wrong.

Just because you no longer have a spouse, or legally dependent children, doesn’t mean your family won’t need to turn to you for financial support in a crisis. In fact, you may find that several members of your immediate family may need your help sooner than you think.

The child is now the parentWhen you were young, you depended on your parents for everything. They raised you to become the independent person you are now. Eventually, you’ll have to return the favor. Many children end up paying for their parents’ long-term care, including a private nurse or an assisted living facility. Depending on their retirement income and Social Security benefits, your parents may also need you to supplement their income to cover their basic needs. Choosing the right policy means you can honor your parents for all of the love and support they’ve given you over the years.

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Indexed Universal Life Insurance Explained

May 12, 2014 9:07:00 AM

If you’re shopping for life insurance, you’ve got plenty of options. From term life, to universal, to indexed universal life; which is right for you? Because we often hear from consumers who are interested in learning more about indexed universal life insurance, we’re taking a closer look at this type of coverage in today’s post.

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How Comparing Term Life Insurance Rates Online Can Lead to Big Savings

Mar 24, 2014 9:33:00 AM

If you’re like most Americans, you look to save money whenever possible, and term life insurance rates are no exception. The cost of term life insurance coverage can vary dramatically based on your level of health, as well as your coverage needs. While it may seem like an overwhelming task to compare your options online, it’s actually quite simple; all you need is an internet connection and a little bit of time.

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What Baby Boomers Should Know About Securing Affordable Term Life Insurance

Mar 20, 2014 9:25:00 PM

Believe it or not, term life insurance can be affordable later in life. At IntelliQuote, we often speak to baby boomers who are surprised to learn that affordable term life insurance rates are still available to them. The life insurance industry has product options for the baby boomer population, offering term products that appeal to those in their “golden years.”

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Life Insurance Rates: What Does Your Classification Say About You?

Feb 10, 2014 8:10:00 AM

So you’re applying for life insurance and you’re not sure what to expect. How much will it cost? How long does the application process take? Before an insurer can determine your life insurance rate, they will first have to determine your health classification. What does that mean and what is involved? Here’s how it works:

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The Do's and Don'ts of Buying Life Insurance

Dec 27, 2013 8:30:00 AM

As you shop for life insurance there is so much to consider. How much coverage do you need? Who are your beneficiaries? Sometimes the easiest way to narrow your options is to simply stick to the do’s and don’ts of buying life insurance. In today’s post, we will outline a few rules of thumb to help you make an informed decision.

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