How a Debt Consolidation Loan Online Can Help When Insurance Won't Cover Your Medical Bills

Medical insurance is a wonderful thing when you have it, but even the best medical insurance does not always cover everything. Sometimes this can be a problem. When medical bills become large due to surgeries or continued illness, the portion that you are to pay can become more than what you can afford quickly. A debt consolidation loan online can become very handy in this case.

When my son was born, he had to be in the neo-natal unit for eight days due to water in his airways and a heart murmur. While in there, he developed and was treated for jaundice. He was given several tests during his stay also. My wife and I were very lucky for two reasons. Our little guy came out just fine and is a healthy thirteen month old now, and we have great insurance. Our insurance covered the entirety of his stay. However, they did send the statement to me detailing the cost of his stay. I’m sharing this story not because I want to point out my luck but to bring home the fact that even 20% of his $25,000 hospital bill would be a pretty sizable bill to have to pay all at once. Hospitals will be willing to work with you to an extent, but they are not creditors and will not allow you to stretch your payments over a long period of time, but a debt consolidation loan online will.

A debt consolidation loan online can take an overall debt of say $5000 and instead of asking you to pay it in its entirety in a few months, you can do it in a few years. This will allow the payment to be workable for you and your budget. Within reason, a loan term can be lengthened or shortened to make the payment work within what you can spend each month. In this way, you will not be searching to find $1000 extra over the next five months, you will make reasonable monthly payments until the debt is paid off.

A few benefits to the debt consolidation loan online are that they can happen relatively quickly, you can combine other debts with them, they have lower interest rates than credit cards, and they are done in complete privacy. After researching banks, once you’ve decided which bank has the right interest rate and terms for your loan, you usually can simply go online and apply for said loan. After some communication with a loan officer, your loan will be approved and you’ll be ready to pay the debts off. This should take a matter of days, not weeks. When setting up the loan you will be able to add any credit card debt you currently have. Since the interest rate of a debt consolidation loan online is less than that of a credit card, your overall debt payments will decrease as opposed to what you were paying before which will save you money. Finally, no one other than you, your spouse, and anyone else you choose will have to know what you’re doing with your finances and why. It’s none of their business and with this loan, it stays that way.

Health Insurance Care Long Term - Clarifying Things

Health insurance: Care (long term) is usually excluded from coverage provided by it. A comprehensive health insurance plan will only give you coverage for not more than 90-120 days. That's why there's need for long term care insurance policy is a wise move if you want to protect yourself from the financial ruin that could result from long term non-medical care.

It still remains under regular health insurance if the care required is purely medical in nature. However, for long term care that come in the form of assisted living, you need long term care insurance.

To ensure we all are on the same plate, I'll take a few moments off to explain what assisted living is. Due to a health condition or age, some people require assistance in daily routines and simple things like bathing, getting in and out of bed, getting dressed and so on.

While in most cases such care is given by family members, it does have a disorganizing effect both emotionally and socially. And, if you consider that some may require such care for a year or more, you'll appreciate the toll it could have if you don't have insurance coverage for it.

Furthermore, using a nursing home for a year could cost a couple as much as $180,000. This will ruin many people's finances. To avoid such ruin, long term care insurance is also taken apart from your health insurance policy.

Let me stress this: Your health insurance plan does not cover cost for assisted living or non-medical care for any protracted period. However, long term care insurance too does not serve as an alternative to health insurance. They are both different but useful insurance policies.

Not everyone needs long term care insurance. If you are very rich and can easily afford to spend $100,000 a year for long term care you don't need long term care insurance. If you're also so poor that you really qualify for Medicaid, then you don't need long term care insurance.

Insurance - An Essential Means To Protect Yourself

Insurance means you have protection. This is a worthy step toward secure living. In today's life where dynamism and speed is the name of the game, uncertainties and stress is also on the rise. The speed with which the world moves forward and we have to follow suit often upsets the body clock and biological mechanism and often result in events or accidents which translates into monetary or material losses.

To counter this, one important Insurance that most people have on their minds is that which covers their cars. This is because a car is not only something you drive to carry yourself around but also something which is close to your heart. The good news is that there are many insurers who offer car insurance at discount rates by presenting different schemes that can work very well for you. These discounts may vary from region to region and company to company. But most of these can be attractive all the same because they are designed to attract customers by offering them several benefits. You have to check if you qualify for the set of conditions you would be required to meet to avail to these discounts.

These discount offers bring in their own sum of thrills because you never know what pleasant surprises await you. Your driving profile is often the single-most important decisive factor in your chances of being considered for such discounts. Naturally the insurance companies want to set an example by having a safe driver as a model who at the same time, will save them claims!

At the same time, do not make the mistake of believing that some people are, by their temperament or by virtue of their astrological sign, prone to accidents. By adding safety features and anti-theft devices, you can improve upon your risk profile tremendously. What more, you may even join a safe driver's club, for instance to display your reliability—and thereby a cheaper car Insurance.

Mortgage Protection Life Insurance - Understanding The Basics

Your house is a big investment - probably one of the

biggest you're every likely to make. It is also the place

that you and your loved ones call home; a shelter and haven

from the outside world. That's why it is so important to

ensure that your home and family are protected in the event

of your death. It's not a topic that any of us like to

dwell on, but the sad fact is that should you die and the

family are no longer able to afford repayments on the

house, they will lose the property and the roof from over

their heads.

Having a good life insurance policy in place to protect

your property in the event of your death is vital. When you

die, your family will have enough to worry about without

the added stress of how they are going to hold on to the

family home. Your life insurance policy will ensure that

this problem is eliminated, with the mortgage balance being

paid in full upon your death.

The main types of mortgage life cover

The type of mortgage life insurance cover that you require

will depend upon what type of mortgage you have, a

repayment or an interest only mortgage. There are two main

types of mortgage life insurance cover, which are:

§ Decreasing Term Insurance

§ Level Term Insurance

Decreasing term insurance

This type of mortgage life insurance is designed for those

with a repayment mortgage. With a repayment mortgage, the

balance of the loan decreases over the term of the

mortgage. Therefore, the sum of cover with a decreasing

term insurance policy will also go down in line with the

mortgage balance. So, the amount for which your life is

insured should match the balance outstanding on your

mortgage, which means that if you die your policy will hold

sufficient funds to pay off the remainder of the mortgage

and alleviate any additional worry to your family.

With the decreasing term insurance, the cover is usually

taken out over the term of the mortgage, and payment is

made should you die during the term of the policy. Once the

policy has expired, it becomes null and void, so you will

receive nothing at the end of your policy if you are still

living. There is no surrender value on this type of cover,

but it does provide a cost effective means of protecting

your home and family during the life of your mortgage.

Level term insurance

This type of mortgage life insurance cover is for those

that have a repayment mortgage, where the principle balance

remains the same throughout the term of the mortgage and

the repayments made by the property owner cover the

interest payments on the mortgage only.

The sum for which the insured is covered remains the same

throughout the term of this policy, and this is because the

principle balance on the mortgage also remains the same.

Therefore the sum assured is a fixed amount, which is paid

should the insured party die within the term of the policy.

As with decreasing term insurance, there is no surrender

value, and should the policy end before the insured dies no

payout will be awarded and the policy becomes null and void.

Terminal illness benefit

Both of the above types of cover normally include terminal

illness cover, which means that the mortgage is cleared

should you be diagnosed with a terminal illness rather than

waiting until you actually die. This helps to ensure that

you do not have the additional worry of trying to meet

repayments when a terminal illness takes away your ability

to work and earn money, and at a time when the whole family

has enough to worry about without having to stress about

meeting mortgage repayments.

Critical illness cover

Critical illness cover is another type of insurance policy

that can be added on to either of the above mortgage life

insurance polices and provides an extra element of

protection and peace of mind. This type of cover can also

be taken out as a stand-alone policy, but usually proves

much better value if simply added on to a main insurance

policy.

With critical illness cover you will be eligible for a

payout in the event that you are diagnosed with a critical

illness. If you then go on to recover from the critical

illness, the payout is yours to keep but the policy becomes

null and void following your claim. The illnesses that are

covered by this type of policy are defined by the insurer

so you should ensure that you check the terms when taking

out critical illness cover.

Adding critical illness cover to your policy will only

increase your repayments by a small amount, but can provide

valuable protection if you are diagnosed as critically ill

and are therefore unable to work. With your mortgage repaid

from the payout of this policy, you will not have the

additional worry of trying to keep a roof over your head at

a time when you should be concentrating on trying to make a

recovery.

Summary

As indicated by the features of the two main types of

mortgage life insurance cover, the policy you go for will

depend largely upon the type of mortgage you have. Both

types of cover offer value for money, with some really low

cost deals available. Of course, the amount that you pay

will ultimately depend upon the level of cover you require.

For total peace of mind it is always advisable to go for a

policy with critical illness cover incorporated into it.

Having some form of mortgage life cover is essential to

protect your home and your family. After working hard to

buy your own property, the prospect of it being repossessed

in the event of your death can be worrying both for you and

for your family. A mortgage life cover policy will ensure

that this does not happen, and will give your family the

security of knowing that whatever happens they will still

have a roof over their heads.