There is an old joke about life insurance. The agent tells the client “For someone your age, the yearly premium on a $5,000 policy is $8,000”.
Apparently, the old joke has become new. Health insurance, as we all know, is skyrocketing, but some know that better than others. For instance, Victoria Collier of the San Francisco Chronicle reported that one 59 year old man in San Francisco is facing a 38 percent increase in his monthly premiums. That is on top of the 41 percent increase he received last year, bringing his total increase to 94 percent in one year. Anthem Blue Cross stated the increase was due to fewer people in the health insurance pool, increasing medical costs, and a bad economy.
Working for an insurance broker, I am licensed with multiple insurance providers so we can offer policies with all the major carriers. So I know from experience that all medical insurance companies have had to raise their rates due to increasing health care costs. However, I know of only one that has consistently offered lower rates for the same quantity and quality of health care coverage.
There is a reason they can do this, and it’s not magic, and yes, they are for profit. In fact, they are a Fortune 500 company. It’s simply that they have been offering life insurance for individuals and individuals only for over 100 years. It is the one thing they do and they do it well.
Of course, they do not guarantee coverage for everyone but you may be surprised. Get a quote, then shop around. Compare policies and networks.
Check it out for yourself and let me know how it turns out, for the good or for the bad.
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