Here are the most common insurance questions United Bridge Insurance Services receives.
Our insurance agents are always available to answer any questions and address any concerns you may have. Call us at (888) 747-2477 for any further inquiries.
What types of life insurance policies does UBI offer?
UBI offers a variety of life insurance policies including Term Life Insurance, Whole Life Insurance, and Indexed Universal Life (IUL) Insurance. Each type provides different benefits and coverage options to meet the diverse needs of our clients.
How does Term Life Insurance work?
Term Life Insurance provides coverage for a specified period, typically 10, 20, or 30 years. If the policyholder passes away during the term, the beneficiaries receive the death benefit. If the term expires while the policyholder is still alive, the coverage ends unless it is renewed.
What are the differences between Medicare Advantage and Medigap plans?
Medicare Advantage Plans are an all-in-one alternative to Original Medicare that often include additional benefits. Medigap plans, on the other hand, supplement Original Medicare by covering out-of-pocket costs like copayments, coinsurance, and deductibles. Choosing between the two depends on your healthcare needs and preferences.
What is an annuity and how does it work?
An annuity is a financial product that provides a steady income stream, typically for retirement. You make a lump-sum payment or series of payments, and in return, the insurer makes periodic payments to you starting either immediately or at some point in the future. Annuities can be fixed, variable, or indexed, offering different levels of risk and potential return.
Are there any health insurance options for small businesses through UBI?
Yes, UBI offers various health insurance plans tailored for small businesses. These plans provide comprehensive coverage options to meet the healthcare needs of employees and can include medical, dental, vision, and other wellness benefits.
What should I consider when choosing a life insurance policy?
When choosing a life insurance policy, consider your financial goals, the needs of your dependents, your budget, and the duration of coverage you require. It's also important to understand the different types of policies available and how they align with your long-term financial plans.
What is collision coverage?
Collision coverage pays for vehicle repair or replacement in the event of a crash with another vehicle or an object connected to the ground. You are covered up to the current cash value of your car.
What is a lapse in insurance?
A lapse occurs when you stop paying for or cancel your insurance. We recommend avoiding an insurance lapse as this can result in costly consequences or denial of claims.
When you choose United Bridge Insurance Services, we ensure you’re making your payments on time and let you know about all the risks involved.
What is a Medicare Advantage Plan?
A Medicare Advantage Plan, also known as Part C, is an alternative to Original Medicare. These plans are offered by private insurance companies and include Part A (Hospital Insurance) and Part B (Medical Insurance). Many Medicare Advantage Plans also offer additional benefits like prescription drug coverage, dental, and vision care.
How do I enroll in a Medicare Supplement (Medigap) plan?
To enroll in a Medigap plan, you must first be enrolled in Original Medicare Part A and Part B. You can then apply for a Medigap policy from a private insurance company. The best time to enroll is during your Medigap Open Enrollment Period, which begins the month you turn 65 and are enrolled in Part B.
How can I use the cash value from my IUL policy for retirement?
The cash value accumulated in an IUL policy can be accessed through policy loans or withdrawals. This cash can be used as a supplemental income stream during retirement, providing a tax-advantaged way to support your financial needs in later years.
What is the process for filing a life insurance claim with UBI?
To file a life insurance claim with UBI, you will need to contact our customer service department. You will be required to provide a copy of the death certificate and complete any necessary claim forms. Our team will guide you through the process to ensure it is handled efficiently and compassionately.
Is the rate given to me accurate?
Our team makes sure to provide you with the most accurate rate possible so that you know what to expect. If anything, the estimate we give you is higher than the actual price as we rather under promise and over deliver.
Is there a fee for getting an insurance quote?
With us, there isn’t.
Book a no-obligation consultation with our team, and we will work with you to find the best strategy and products available to help protect you and your family.
What are the benefits of Indexed Universal Life (IUL) Insurance?
IUL Insurance offers lifelong coverage and has a cash value component that grows based on the performance of a selected stock market index. It provides flexibility in premium payments and can serve as a source of retirement income due to its living benefits.
Can I adjust my premium payments with an IUL policy?
Yes, one of the advantages of IUL policies is the flexibility to adjust premium payments. Policyholders can increase or decrease their premiums within certain limits, allowing them to adapt their payments based on their financial situation.
When should I review my insurance protection?
At United Bridge Insurance Services, we believe it’s a good idea to review your insurance protection at least once a year. Still, if you have gone through a significant life change, it’s best to check in with us as soon as possible.
Get in touch with us now at (888) 747-2477 to schedule an appointment.