Life / Health Insurance

The Importance of Health and Life Insurance

man taking his own blood pressureHealth insurance is undeniably the most important form of investment individuals including singles, married couples, and retirees must make during their lifetime for several reasons. Keep in mind that, in the United States, the healthcare system requires medical insurance from patients so that the appropriate medical care can be provided in hospitals and clinics.

In the wake of the Affordable Care Act, also known as Obamacare, more individuals will be able to sign up for medical insurance starting in October 2013 with actual coverage beginning in January 2014.

Why the Need for Medical Insurance?

For one thing, it will considerably lessen the financial burdens placed upon the insured individual and his family in the event of medical emergencies, elective and mandatory surgeries, and health check-ups, among others. The United States is widely considered to have one of the most expensive healthcare costs in the world so health insurance is a must. The insurance company will shoulder majority of the total medical bill, thus, lessening the patient’s monetary obligations for his healthcare costs.

For another thing, it will facilitate medical care in hospitals and clinics. Keep in mind that the staff members including nurses, doctors and physical therapists will ask for your medical insurance provider as part of their establishments’ standard operating procedures. Your insurance provider should be accredited in the healthcare facility so that you can enjoy the abovementioned benefit.

Indeed, health insurance is a necessity in enjoying a healthy, happy and productive life in the United States!

Life Insurance

And then there's life insurance. It's also known as life assurance, which is a contract between the insurance policy holder and the insurance company wherein the latter promises to pay the former’s designated beneficiaries a sum of money – the benefits – upon the death of the insured individual. The benefits are usually paid in a lump sum upon the completion of paperwork necessary for its release to the beneficiaries.

Where medical insurance is a must, life insurance can be considered as an option. Nonetheless, an increasing number of individuals are purchasing life assurance policies as yet another layer of monetary protection for their families in case of their death. Just as medical emergencies cannot be predicted, thus, the medical insurance, death cannot be foretold, thus, the life assurance policy.

Ultimately, both the life and health insurance policies are designed as buffers against the uncertainties of life including health and death. With these insurance policies in place, your family members will not be burdened in the monetary aspect by your medical needs and sudden death.

Testimonials

  • "I have been a customer of Farley Insurance since 1982. When I've had a claim they have been great to work with. They go to bat for me every year for the best rates which keeps me coming back. Very appreciative of Kent and his staff."

    — Penny

  • "My family has been with Farley Insurance Agency for 28 years. We enjoy their professional service they provide for our everyday needs as well as at claim time. Our claims have always been paid in a timely manner and their staff is very knowledgeable and helpful. They are truly 'only a call away'!"

    — Terri

  • "In November of 2015, we had a major fire which destroyed everything. We reopened in April of 2016 thanks to Farley Insurance. We could not have asked for better or more pleasant people to work with. They made everything run smoothly. We would recommend them to anyone. Thank you Farley Insurance!"

    — Nick

  • "We have used Farley Insurance Agency for a few years with a variety of business and personal coverage. Tim and his office has always been prompt and professional when dealing with any inquiries or issues that arise. We have found Tim to be competitive and has saved us money on insurance costs."

    — Mike

  • "Farley Insurance Agency has been Rex Vault's insurance provider for many years now. Both Tim and Chad have been excellent to work with. Their product knowledge is outstanding and their experience is always helpful."

    — Mark

  • "Tim Farley has been our agent for several years and we have been happy with his service and find him and his staff very helpful."

    "Insurance in the construction industry is competitive and we feel very comfortable with using the Farley agency."

    — Scott

  • "Farley Insurance Agency has been provides the business insurance for the City of Newton. Their product knowledge is outstanding and their experience is always helpful."

    — Mark