Life and Health Insurance in Macungie, PA

Ensuring the financial means to maintain your health and wellness should be a top priority, especially if you have others who depend on you. Even if you live a safe and responsible lifestyle, certain ailments and accidents may eventually impact your well-being, potentially leading to significant medical expenses. In these situations, having previously laid the groundwork to ensure financial security is critical, as rising health care costs could otherwise incur immense out-of-pocket costs or even leave you lacking the care you need.

With these concerns in mind, adequate life and health insurance may be valuable investments for your wellness and the financial prospects of your loved ones.

What Are the Primary Types of Life Insurance?

Life insurance can ensure your family is provided for following the death or a loved one. Although this type of coverage may come in many forms, policies can generally be classified as one of the following:

• Term life insurance—This type of policy provides coverage for a predetermined period of time (e.g., 10, 20 or 30 years). Beneficiaries can receive a payout if an insured’s death occurs during that time. Term life policies may be advisable for those seeking to limit costs while ensuring coverage during a specific period, such as parents wanting to insure their children until adulthood or homeowners planning through the duration of their mortgage.
• Whole life insurance—As its name suggests, this type of life insurance remains active throughout an insured’s entire lifespan. Regardless of when death occurs, these policies can provide financial assistance to beneficiaries. Furthermore, whole life insurance may also give the policyholders opportunities to accrue cash value, which may then be borrowed against, used to reduce premiums or invested in various stocks and bonds.

How Much Life Insurance Do I Need at 60?

Everyone’s life insurance needs are unique. Although some people may have paid off many of their debts or may no longer be providing for dependents by age 60, there may still be financial responsibilities for others. With this in mind, you should consult a qualified insurance professional, such as those at the Valera Agency, before finalizing your life insurance choices.

How Many Life Insurance Policies Can I Have?

There is generally no limit to the number of life insurance policies you can carry. In many cases, it may make sense to purchase and maintain multiple policies for different reasons, such as a term life policy to provide stability for your dependents and whole life coverage for earnings potential.

How Do Health Insurance Deductibles Work?

While life insurance can help provide for others following the death of a loved one, health insurance may prove to be an invaluable asset in extending someone’s life by allowing access to various medical and preventive services.

When determining the right health insurance, deductibles play a critical role. These features of health insurance policies establish a minimum amount that policyholders will be required to pay out of pocket before their coverage kicks in. In some cases, certain services, such as vaccinations and regular checkups, may be exempt from deductibles.

How Much Health Insurance Do I Need?

Like your life insurance needs at any given age, health insurance needs may vary significantly depending on your unique circumstances. When determining the right health plan for you and your family, consider your location, age, preexisting conditions and budgetary preferences (e.g., lower deductibles versus higher premiums).

Get the Right Coverage

Health and life insurance both play critical roles in ensuring financial stability for you and your family. To ensure you have adequate coverage to secure your loved ones’ finances and future, consult the knowledgeable and experienced team at the Valera Agency today.