Life & Health

There are a lot of confusing acronyms in the world of health insurance (PPACA, HIPAA, HMO… the list goes on). And with all of the different options out there, it can be hard to know which one is right for you. That’s where health insurance specialists at BWO Insurance come in. We can help you navigate the confusing world of health insurance and find a plan that meets your needs.

But why is it important to have individual health insurance in the first place? There are a few reasons.

• If you don’t have health insurance and something happens, you could be facing some serious financial trouble. hospital bills can add up quickly, and if you’re not covered, you’ll be responsible for paying them all yourself.
• Having health insurance can help you get better care. When you have insurance, doctors and hospitals are more likely to provide you with the best possible care because they know they’ll be reimbursed for it.
• Having health insurance can give you peace of mind. Knowing that you’re covered in case of an emergency can help you relax and enjoy your life a little bit more.

So, if you’re confused about your health insurance options, or if you’re just looking for peace of mind, consider talking to a health insurance specialist at BWO today. We can help you find the coverage you need to protect yourself and your family. Contact us to schedule an appointment.

A Health Savings Account, or HSA, is a tax-advantaged savings account that can be used to pay for medical expenses. HSAs are typically offered in conjunction with high-deductible health plans, and they provide a way for account holders to save for future medical costs on a tax-free basis. In addition, funds in an HSA can be invested and allowed to grow tax-deferred, providing a potential source of tax-free income in retirement. As such, an HSA can be an important tool to help pay for medical expenses, both now and in the future. Contact us to schedule an appointment to discuss if a HSA is right for you.

There are four main types of life insurance: term, whole, universal, and variable. Each type has its own advantages and can be used for different financial planning purposes.

• Term life insurance is the most basic and affordable type of life insurance. It provides coverage for a set period of time, usually 10-30 years. Term life insurance is a good choice for those who need temporary coverage or who have a limited budget.
• Whole life insurance provides coverage for your entire life. It is more expensive than term life insurance, but it also offers some additional benefits, such as cash value accumulation. Whole life insurance can be a good choice for those who want lifelong protection or who want to build up cash value for future needs.
• Universal life insurance is similar to whole life insurance, but it offers more flexibility in terms of premiums and cash value accumulation. Universal life insurance can be a good choice for those who want more control over their policy or who want to maximize their cash value growth.
• Variable life insurance is a type of universal life insurance that offers investment options within the policy. This makes it possible to grow the cash value of the policy while also getting the death benefit protection. Variable life insurance can be a good choice for those who want to invest for their future and provide for their loved ones at the same time.

Each type of life insurance has its own benefits and drawbacks, so it’s important to choose the right one for your needs. Life insurance can be used for a variety of financial planning purposes, such as protecting your family in case of your death, funding your retirement, or leaving a legacy. No matter what your goals are, there’s a type of life insurance that can help you achieve them. Contact a BWO agent to help.