Indy Insurance Guide

Types Of Insurance Coverage We Offer

Term Life Insurance

Term life insurance lasts for a specified number of years and then ends. You choose the term when you take out the policy, with common terms being 10, 20, or 30 years. The best term life insurance policies balance affordability with long-term financial strength.

Types of Term Life Insurance:

  • Decreasing Term Life Insurance: Renewable term insurance where coverage decreases over the life of the policy at a predetermined rate.
  • Convertible Term Life Insurance: Allows policyholders to convert a term policy to permanent insurance.
  • Renewable Term Life Insurance: A yearly renewable policy that provides a quote for the year purchased. Premiums increase annually.

Whole Life Insurance

Whole life insurance provides permanent death benefit coverage for the life of the insured. In addition to paying a death benefit, whole life insurance also contains a savings component in which cash value may accumulate.

Universal Life Insurance

Universal life (UL) insurance is permanent life insurance lasting the lifetime of the insured. It has an investment savings element and flexible-premium options to fit your financial situation.

What Is Health Insurance?

Health insurance is a type of coverage that pays for medical and surgical expenses incurred by the insured. It can also cover preventive care, prescription drugs, and mental health services.

Types of Health Insurance Plans

  • HMO (Health Maintenance Organization): Requires a primary care physician and referrals for specialists.
  • PPO (Preferred Provider Organization): More flexibility to see any doctor without a referral.
  • EPO (Exclusive Provider Organization): No referrals needed but you must stay in-network.
  • HDHP (High Deductible Health Plan): Lower premiums with a higher deductible, often paired with an HSA.

Why Health Insurance Matters

Without health insurance, a single medical emergency could lead to overwhelming debt. Health insurance gives you access to regular preventive care and provides peace of mind for your family's future.

Understanding Medicare

Medicare is a federal health insurance program primarily for people aged 65 or older, as well as certain younger individuals with disabilities.

The Parts of Medicare

  • Part A (Hospital Insurance): Covers inpatient hospital stays and skilled nursing care.
  • Part B (Medical Insurance): Covers doctors' services, outpatient care, and medical supplies.
  • Part C (Medicare Advantage): An alternative to Original Medicare offered by private companies.
  • Part D (Prescription Drug Coverage): Adds prescription drug coverage to your existing plans.

Medicare Supplement (Medigap)

Medigap policies are sold by private companies and can help pay some of the healthcare costs that Original Medicare doesn't cover — like copayments and deductibles.

Contact Me