FAQs
What is Whole Life insurance?
Whole life insurance is a permanent life insurance policy that provides lifelong coverage, a guaranteed death benefit, and a tax-deferred savings component known as cash value.
What services are covered under hospital indemnity plans?
Common coverages include hospital admission and daily hospital confinement, intensive care stays, and often outpatient surgery, emergency room visits, ambulance services, and doctor visits depending on the plan.
What services are covered under Short-term medical insurance?
Plans typically cover emergencies, hospital stays, doctor visits, diagnostic tests, and sometimes prescriptions. However, they don’t include essential health benefits required by the ACA, such as maternity, dental, vision, or preventive care.
What services are typically covered by DVH Insurance?
These plans usually include preventive dental care (cleanings, exams), vision exams, prescription eyewear, hearing exams, and often hearing aids or credits toward them. Detailed benefits vary by carrier and plan level.
What tax forms are involved in my ACA coverage?
After the year ends, you’ll receive Form 1095-A from the Marketplace to reconcile your subsidies on your tax return. Use Form 8962 to claim or repay the premium tax credit.
What types of care does long-term care insurance cover?
These policies typically cover home health care, adult day care, assisted living, nursing homes, memory care, respite care, and sometimes home modifications or hospice.
What types of LTC policies are available?
- Traditional LTCI: covers only long-term care.
- Hybrid policies: combine life insurance or annuity with LTC benefits.
- Life policy riders: add LTC benefits to a life insurance policy.
What types of Universal Life insurance policies are available?
Common types include Traditional UL, Indexed UL (IUL), Guaranteed UL (GUL), Variable UL (VUL), and Single-Premium UL—each offering different cash-value growth or guarantees.
What’s the difference between bundled vs standalone DVH plans?
Bundled plans include all three coverages at once, often with one deductible and premium structure. Standalone plans let you pick only the types you need—for example, dental only or vision only—offering more customization.
What’s the difference between short‑term and long‑term disability?
Short‑term disability (STD) covers temporary disabilities, usually paying for 3–12 months with elimination periods from 7–30 days. Long‑term disability (LTD) supports longer absences—2, 5, 10 years, or up to retirement—with elimination periods often around 90 days.
What’s the difference between trip cancellation and trip interruption?
Cancellation reimburses prepaid, nonrefundable costs if you can’t depart for a covered reason. Interruption reimburses unused portions (and extra return costs) if you must cut the trip short for a covered reason.
What’s the Medicare coverage gap or “donut hole”?
Historically, there was a gap where beneficiaries paid more. Now, due to the ACA and Inflation Reduction Act, after initial costs, you pay 25% until reaching your out-of-pocket limit.
When and how do I file a claim for hospital/medical indemnity insurance?
Claims should be filed shortly after hospitalization—typically within 90 days to a year. Once submitted, many record decisions within 5 business days.
When can I enroll in Medigap?
The best time is during the 6-month Medigap Open Enrollment Period, starting when you’re both age 65 and enrolled in Part B. You have guaranteed issue rights—no medical underwriting.
When can I enroll in or change a Part D plan?
You can enroll during your Initial Enrollment Period, the Annual Enrollment Period (Oct 15–Dec 7), or a Special Enrollment Period (SEP) if you lose other creditable drug coverage.