Ah. To be young. We all remember it, for some of us, it was like it was only yesterday… and today… and tomorrow. Oh no, wait. I’m a millennial!
As a youngin’ there’s a stereotype in the insurance industry that you’re probably not fully considering the benefits you have available to you. And while there are probably facets of that that are true, it doesn’t all have to be.
With that in mind, I’d like to quickly go over some benefits you should seriously consider now, since they’ll be harder to get/more expensive when you’re older.
Aflac
We talk about Aflac a lot on this blog, and for good reason, it’s actually a good deal. I have two Aflac plans, and I can usually get them to pay for themselves just by going to the doctor regularly and making sure I submit my claims. This means if I ever suffer something major, I’ll be getting a payout from Aflac at no real tangible cost to myself. This makes Aflac extremely affordable and pretty much a no-brainer if you can commit to doing your homework.
But, did you know, you cannot sign up for Aflac once you’re retired? With SDPEBA the only retirees that have Aflac plans are the ones who retired after signing up for one. So, in order to have Aflac when you’re old (and will probably need it), you have to be signed up in advance. Nothing is stopping you from signing up the year before you retire, but Aflac’s real value lies in how it pays out.
Unlike health insurance, Aflac dollars go into your bank account. Meaning you can put the money toward a hospital bill, sure. But you can also put it toward your rent, your groceries, or well, to anything! Imagine you’re in a car accident, and its bad enough to where your car is totaled and you have to be driven to the hospital in an ambulance. If you have the Aflac Accident plan, you’re going to be paid out based on what your injuries are, being put into an ambulance, and more based on your situation. This money can go toward buying a new car, it can cover your rent if you miss work due to this accident, and yes, it can even go towards your copayment if your health insurance isn’t covering it.
Schedule a call with our Aflac Specialist
Long-Term Care Insurance
Often abbreviated to LTC, Long-Term Care insurance is one of the rarest forms of insurance on the market. LTC insurance is not just hard to get, but it’s getting harder to find too. A lot of companies that offer it aren’t accepting new policies and the few that are, are extremely restrictive. SDPEBA’s LTC Insurance through Unum is anything but that. In fact, it's actually highly customizable.
LTC Insurance is designed to help you afford nursing services that go beyond a few months. Basically, it will pay for a nursing home, hospice care, and even at-home nursing options. A lot of times, you don’t really get a say on where you receive care when you’re older and cannot take care of yourself, LTC insurance gives you the financial cushion to fix that.
Why sign up when you’re young? The earlier you start, the less you pay. Rates are set based on when you apply and are determined by your overall health. That’s right, you need to be healthy enough to qualify for LTC insurance (unless you’re a new hire. SDPEBA offers guaranteed issue LTC insurance during the first 60 days of being hired). So, in order to pay less and make sure you qualify, you ought to enroll sooner rather than later.
Click here to Schedule a Long-Term Care Call
Life Insurance
With whole vs group vs term vs all sorts of nouns, Life Insurance can get pretty confusing! But there are two important things to know about it.
- You have more options for enrollment when you’re young, because you’ll be able to qualify for more policies and can be pickier.
- Depending on which type you enroll in, it is often cheaper to enroll when you’re young.
SDPEBA has access to dozens upon dozens of plans that are handpicked with San Diego employees in mind. Not only that, but we also have a team of benefit specialists who will go through your needs/situation and then help you find which plan works best for you.
The reason you should do this sooner rather than later is because you’ll have more plan options now than you’ll have in twenty years and because, with certain plans, you’ll be able to lock-in your premium at a lower age range, saving you money in the long run! Plus! Life insurance costs less for people who are healthier, and (not to be a bummer, but) you’re most likely the healthiest you’ll ever be!
Get a Customized Life Insurance Quote
If you’re interested in signing up for Life Insurance, or learning more about any of these plans, contact us at 888-315-8027 or email [email protected].