04/19/2024
At this point, you’ve probably heard of health insurance and life insurance — but did you know they’re not the same thing?
Shocking, we know ;)
Allow us to clear up any confusion:
Health insurance helps cover medical costs such as hospitalizations, surgeries, doctor’s visits, and prescription medications.
Ideally, you’ll want a plan that covers 100% of the costs of hospitalization, and 80% of the costs of medications and doctor’s visits.
Life insurance, on the other hand, provides for your family or some other named beneficiary in the event of your death.
There are two general types of life insurance available:
1) Term insurance: which only provides coverage during the term of the policy — and only pays off following the insured’s death.
2) Whole-life insurance: which provides savings and insurance — and can be collected by the insured before death.
We hope this helps!
If you have any questions or you’d like to learn more about your insurance options, feel free to reach out :)
