Life & Health Insurance in La Habra , CA
Although they function as different types of coverage, life and health insurance policies can help you financially protect yourself and your loved ones by providing financial assistance during difficult times. However, these topics may be complicated and nuanced, so you must invest ample time into understanding your options and how they function.
What Is Life Insurance?
Life insurance can provide financial assistance following the death of an insured, potentially helping spouses and dependents maintain their quality of life and pay for various costs and losses, such as replacing funeral expenses and lost income.
Types of Life Insurance
Life insurance may come in several forms, but most policies fall under the following categories:
- Term life insurance provides coverage for a limited period of time. It may be an appropriate choice for those wanting to guarantee financial assistance until a specific date, such as when children would reach adulthood or a mortgage would be paid off.
- Permanent life insurance offers ongoing coverage throughout the entire duration of an insured’s lifespan and may also include various financial opportunities and incentives, such as the ability to accrue cash value, which can then be borrowed against or invested.
How Life Insurance Works
Life insurance policies establish a contractual agreement between you and your insurance company. By keeping up with your premiums, you can ensure that your family has access to critical funds and resources to help them manage the aftermath of tragic loss.
What Is Health Insurance?
Health insurance can help you and your family maintain access to essential medical services. These policies may be available through your employer and the Health Insurance Marketplace. While exact capabilities and limitations may vary, coverage is generally intended to help reduce out-of-pocket health care costs.
How Health Insurance Works
Like many types of insurance, health insurance generally requires you to make regular premium contributions to retain your coverage. The exact details of your coverage may depend on your plan type and various features of your policy, including its coverage limits, deductible, copayments, coinsurance and out-of-pocket maximum.
Types of Health Insurance
Health insurance may come in many forms and a qualified insurance professional, such as those at DRD Insurance Agency, can help you understand the best option for your circumstances. Common types of plans include the following:
- Health maintenance organization
- Preferred provider organization
- Exclusive provider organization
- Point of service policies
- High-deductible health plans
We’re Here to Help
At DRD Insurance Agency, we realize that understanding life and health insurance can seem daunting. Fortunately, our team is equipped with the essential knowledge and experience needed to help families and individuals in the La Habra , CA, area identify their needs and secure optimal coverage. Contact us today to learn more.