Affordable Insurance for Individuals, Families and Business
Health & Life Insurance, Disability, and Accident
Individual Group Life Insurance Information
We can offer many different plans with many different levels of benefits. Each features affordable coverage for the kind of everyday expenses you value most. Call us today for a no obligation quote @ 877.811.7260.
Alternative solutions to the rising cost of health insurance premiums.
It costs you nothing.
But it means everything to your employees.
Your full time or part time employees want access to quality health care and you want to offer it, but cost can be a deterrent. Michigan Health and Life Group LLC makes it easy for you to offer access to health insurance with affordable health access plans – affordable limited-benefit individual medical plans for employees of small businesses.
Affordable Plans and Coverage
We offer three different plans with three different levels of benefits. Each features affordable coverage for the kind of everyday expenses people value most. You can offer access to coverage to employees, employees and their dependents, or even to their dependents only.
Administration is easy.
You can conveniently deduct premium from your employees’ paycheck and you receive one consolidated bill for all your employees. Or if you prefer, the employee can make the payments themselves.
And the cost?
Absolutely no cost for employers and as little as $40 per month for employees. Who couldn’t afford a plan like that?
Offering health insurance increases employee retention and satisfaction within the business environment. I can help you find an affordable option for the everyday health insurance benefits they value.
Already provide health insurance for your employees or for yourself?
Life insurance is the means of providing the necessary financial resources to your loved ones in the event of your death. These proceeds can help your family stay in their home, pay for funeral expenses, provide financial security while your family is growing and provide needed dollars for a college or vocational education and business continuation needs. Certain types of life insurance policies may also provide cash benefits while you are living. Click here for some sample rates.
Why do I need life insurance?
Your most valuable asset is your ability to earn an income. If you have any situation where others are dependent on your ability to earn an income, then you need life insurance. These could include a spouse, children, parents, a unique family need or a business. Replace income for dependents Pay final expenses Pay federal “death” taxes and state “death” taxes Create a source of savings The answer isn't really how much life insurance you need ... it's how much investment capital your family will need at the time of your death. Their need for capital, on a gross basis, is really a function of two variables: To determine how much, if any, life insurance you need, start by gathering all your personal financial information and estimating what your family will need after you're gone. Include ongoing expenses (such as day care, tuition, or retirement) and immediate expenses at the time of death like medical bills, burial costs, and estate taxes. Your family also may need funds to help them readjust: perhaps to finance a move, or pay expenses while job hunting. Figure a sum total based upon the requirements and use this as a preliminary assessment of your family's financial needs once you have passed away, estimating for you the amount of life insurance you will need to cover the expenses that your family will not be able to pay by themselves. There are dangers associated with underestimating the amount of life insurance you'll need. If you have inadequate life insurance, your survivors may be unable to maintain their current standard of living. In more extreme cases, your family may find it difficult to cover your funeral and other expenses that may arise as a result of your death. Depending upon your individual needs, life insurance offers a substantial return for your obligation. Term insurance is life insurance that pays a death benefit during a specific period of time, such as 20 years. At the end of the term period, there is no insurance in force unless you renew the insurance for another term period. You can renew term insurance policies for another term period even if your health has changed. Term insurance generally offers more insurance protection for your premium dollars. It is good protection for needs that will disappear in time, such as mortgages, car loans, education requirements, family finances. In 2003, virtually all (97 percent) of the term life insurance bought was level term. “Return of Premium” Whole or ordinary life Variable life
Variable-universal life All term policies have a conversion option. Please contact your agent when you want to make the change.
Getting married can be stressful. From planning the big day, to adjusting to sharing your life with the one you love, there’s a never-ending list of things to do and decisions to make. If you’re a newlywed, or soon to be one, insurance is probably the last thing on your mind; yet it’s something that can’t be overlooked. Likewise, if you’re getting remarried, your financial situation is going to change as well. No matter what stage you are in. What happens if your spouse is not there tomorrow? The financial obligations you have to take on may be too burdensome. Life Insurance can help with your financial obligations. You and your spouse count on each other every day, so you'll want to be sure you both are financially protected in the event something were to happen to one or both of you. For newlyweds, life insurance isn't something you want to think about, but you need to for each other. No matter how long you’ve been married, if you died suddenly, would your spouse have enough money to cover funeral costs, outstanding loans, credit card balances, daily living expenses and future obligations? Life insurance can help.
Why should I buy life insurance?
Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations:
If people depend on your income, then life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially.
Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.
Create an inheritance for your heirs
Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.
Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance. Changes in the federal “death” tax rules between now and January 1, 2011 will likely lessen the impact of this tax on some people, but some states are offsetting those federal decreases with increases in their state-level “death” taxes.
Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax deferred (and tax exempt if the money is paid as a death claim).
How much life insurance do I need?
What types of life insurance policies are available?
Permanent insurance, also referred to as cash value insurance, provides protection for life. As long as you pay the premiums, the death benefit will be paid. Premiums are generally higher than term insurance; however, part of the premium is invested by the company and builds up a cash value. This cash value will accumulate and may be available if you surrender the policy; or, if you stop paying premiums, you can use the cash value to continue your policy at the current death benefit for a specified time or at a lesser death benefit covering you for your lifetime. Part of the cash value may also be used as collateral for a loan, or you may borrow from the cash value of the policy.
What types of term life insurance are available?
Term Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.
There are two basic types of term life insurance policies—level term and decreasing term.
In most types of term insurance, including homeowners and auto insurance, if you haven’t had a claim under the policy by the time it expires, you get no refund of the premium. Your premium bought the protection that you had but didn’t need, and you’ve received fair value. Some term life insurance consumers have been unhappy at this outcome, so some insurers have created term life with a “return of premium” feature. The premiums for the insurance with this feature are often significantly higher than for policies without it, and they generally require that you keep the policy in force to its term or else you forfeit the return of premium benefit. Some policies will return the base premium but not the extra premium (for the return benefit), and others will return both.
What types of permanent life insurance are available?
This is the most common type of permanent insurance policy. It offers a death benefit along with a savings account. If you pick this type of life insurance policy, you are agreeing to pay a certain amount in premiums on a regular basis for a specific death benefit. The savings element would grow based on dividends the company pays to you.
Universal or adjustable life
This type of policy offers you more flexibility than whole life insurance. You may be able to increase the death benefit, if you pass a medical examination. The savings vehicle (called a cash value account) generally earns a money market rate of interest. After money has accumulated in your account, you will also have the option of altering your premium payments – providing there is enough money in your account to cover the costs. This can be a useful feature if your economic situation has suddenly changed. However, you would need to keep in mind that if you stop or reduce your premiums and the saving accumulation gets used up, the policy might lapse and your life insurance coverage will end. You should check with your agent before deciding not to make premium payments for extended periods because you might not have enough cash value to pay the monthly charges to prevent a policy lapse.
This policy combines death protection with a savings account that you can invest in stocks, bonds and money market mutual funds. The value of your policy may grow more quickly, but you also have more risk. If your investments do not perform well, your cash value and death benefit may decrease. Some policies, however, guarantee that your death benefit will not fall below a minimum level.
If you purchase this type of policy, you get the features of variable and universal life policies. You have the investment risks and rewards characteristic of variable life insurance, coupled with the ability to adjust your premiums and death benefit that is characteristic of universal life insurance.
Can I convert my term policy to permanent insurance?
How does my beneficiary collect the benefits on my life insurance policy?
Your beneficiary or your agent should contact the life insurance company who issued the policy.
Being Married
Say "I Do" For Each Other.
Life Insurance
As a small business owner, you know what it means to be responsible. In addition to the long hours and hard work, owning a business brings an array of other responsibilities whether you're just opening your first corner shop or running a long-time establishment with a payroll of employees. Owning a business can bring you great success. But with great opportunities comes great risk. Don't let your income or your life be at risk. Make the first step in your planning process, review of your disability and life insurance needs to ensure both you and your business are protected. While it’s something you don’t want to think about, you want to ensure your business is protected with the right life insurance plan. Your premature death or the death of a key employee can seriously impact your business. Protect your business as well as your family with life insurance products designed specifically for your business size and situation.
Owning a Business
There’s a Lot at Stake For Your Business.
Life Insurance
An addition to your family will generally increase your need for insurance, due to increased expenses and potential changes in your financial goals and priorities. Likewise, if you already have life insurance, the birth or adoption of a child or grandchild is a good time to review your coverage. As a parent, you want to ensure your children's financial security and protection. Whether you're looking to fund a college education or protect your family in case you die prematurely, you can safeguard your child's future with the right life insurance plan. Kids grow up so fast. Whether you're a new parent, an experienced parent or about to become one through birth, adoption or foster care, no amount of planning can prepare you for what lies ahead. Children and grandchildren are one of the most wonderful experiences in life. They look up to you and count on you for love, security, guidance and everything they need. As they grow from infancy to adolescence to adulthood, you want to protect them. One of the most important things you need to do as your family grows and changes is reviewing your disability and life insurance plan. Five simple reasons why I should obtain an individual life insurance policy? You might be thinking, "I have life insurance through my place of employment, why do I need an individual plan?" or "is it really worth the cost of the premiums?" 1- You will no longer have your group life insurance plan through work due to an involuntary or voluntary job loss. 2- If you develop a medical condition while you are employed and leave your place of employment voluntarily or involuntarily, you may become uninsurable or experience higher rates for a life insurance policy. It is wise to lock in a lower rate when you are younger and healthier.
3-It really is inexpensive considering the benefit. See some actual sample rates below. It makes sense at the very least to supplement your group plan, or buy a policy that addresses your financial obligations so your loved ones can experience a life without financial burden. Buying a policy today will offer you the lowest rate for a long term plan based on your age and your health. Waiting until you are older and perhaps not as healthy as you once were, will increase your premiums. Locking in a rate earlier in your life may provide a lower premium for your policy. If you already have an individual plan, have you received a new quote lately? You may get a better rate for a better plan than you did when you first obtained a policy. Sample Rates- 10 yr . term policy Heart Attack, Stroke, or even Life Threatening Cancer strikes you. Wouldn't a check be better than a get well card? The critical illness plan will pay you a percentage of the term life insurance benefit upon the diagnosis of a specified critical illness. Illnesses such as a: ¨Heart attack ¨Stroke ¨Life Threatening Cancer ¨Terminal Illness ¨Renal Failure Issue Ages: Covered Illness Life-Threatening Cancer: Why obtain an Accident Policy? Approximately two-thirds of all admitted emergency patients in hospitals today are there due to an accident or injury. Your health insurance covers the majority of that expense, however the remainder is left for you to pay. Accident policies are used to pay for those expenses incurred by an accident or injury. In many cases, the accident policy can pay for all of the expenses not covered by your health insurance. After a nominal deductible between $0 and $250 dollars depending on your plan, you can virtually eliminate your out of pocket expenses with the right plan. The plans range from $2,500 of coverage through $10,000 of coverage. The monthly premiums start at about .70 cents per day. Overview of coverages- (this is not insurance) 24/7 round the clock coverage Pays 100% of Covered Medical Expenses after satisfaction of the deductible of $100 or $250 up to the coverage maximum. Use any doctor or hospital Accident medical coverage is excess to other medical coverage New CallMD*, a network of medical doctors you can call for a consultation or medical needs anytime or any day. Accidental Death & Dismemberment benefits Emergency Hospital Air Ambulance benefits Automatic Acceptance through Age 69 Benefits are paid directly to you World Wide Coverage
With dental insurance plans for you and your family, we can help make it easier to keep your smile healthy. From dental cleanings to root canals, it can be difficult to predict how much money you're going to spend for your dental care. Dental plans can be obtained with or without a medical health insurance policy.
For Parents, It’s Simply a Must Have.
4-You can't promise them you will never leave them, but you can promise them you will never leave them without.
5-You can help to avoid a financial hardship for your loved ones by leaving them the money to pay for a mortgage, an education, and day to day living expenses.
Age Amount Premium Amount Premium
male female male female
25 Non Tobbaco 250,000 60/yr 55/yr 500,000 120/yr 110/yr
35 Non Tobacco 250,000 60/yr 55/yr 500,000 120/yr 110/yr
45 Non Tobacco 250,000 14/mo 13/mo 500,000 28/mo 23/mo
55 Non Tobacco 250,000 35/mo 25/mo 500,000 72/mo 50/mo
Sample Rates- 10 yr . term policy
Age Amount Premium Amount Premium
male female male female
25 Tobacco 250,000 23/mo 19/mo 500,000 51/mo 34 /mo
35 Tobacco 250,000 26/mo 22/mo 500,000 62/mo 40/mo
45 Tobacco 250,000 58/mo 45/mo 500,000 116/mo 88/mo
55 Tobacco 250,000 140/mo 85/mo 500,000 280/mo 170/mo
Rates are estimates. Based upon preferred ratings with no serious medical history. Prices may or may not include any annual fees. Above rates are to be used as a guideline only. Disclosure of medical history is required to obtain an accurate rate.
What if…the unthinkable happens?
18-64 (current age)
Issue Limits:
Maximum Face amount $250,000. Simplified underwriting up to $100,000 for ages 45 and under, $75,000 from age 46 to age 55 and $50,000 age 56 to 64.
Short Form Application:
Issuance of policy may depend on answers to health questions on application.
Critical Condition Benefit Rider*:
The Critical Condition Benefit Rider pays full or partial policy face amounts as a living benefit when the insured is diagnosed with a covered critical condition .
The manifestation of a malignant tumor (a tumor which is not encapsulated and has properties to infiltrate and cause metastasis) including leukemia and Hodgkin's Disease (except Stage 1 of Hodgkin's Disease). The disease must be supported by historical evidence of malignancy.
Heart Attack:
Death of a portion of the heart muscle (myocardium) resulting from blockage of one or more coronary arteries.
Stroke:
Any acute cerebral vascular accident producing neurological impairment and resulting in paralysis or other measurable objective neurological deficit persisting for at least 30 days.
Renal Failure:
End stage renal failure presenting as chronic irreversible failure of both kidneys to function, as a result of which regular renal dialysis is instituted or renal transplantation is carried out.
Major Organ Transplant:
The actual undergoing of transplantation of heart, lung, liver or bone marrow, but not as the donor.
Terminal Illness:
Advanced or rapidly progressing incurable disabling terminal illness where, based on our investigation, the life expectancy is no greater than twelve (12) months.
Major Heart Surgery:
Limited to the following procedures:
Coronary By-Pass Surgery:
The actual undergoing of coronary by-pass surgery (either saphenous vein or internal mammary graft) following an unequivocal recommendation by a consultant cardiologist for the treatment of coronary disease.
Heart Valve Replacement:
The actual undergoing of the total replacement of one or more heart valves for the treatment of disease. Heart valve repair and valvotomy are specifically excluded.
Aorta Surgery:
The actual undergoing of surgery for disease of the aorta needing excision and surgical replacement of the diseased aorta with a graft. For the purposes of this definition, aorta means the thoracic and abdominal aorta but not its branches.
* This policy has exclusions, limitations, reduction of benefits, and terms under which the policy may be continued in-force or discontinued. For costs and complete details of the coverage listed above, call or write Michigan Health and Life Group today. 1-877-811-7260 or info@michiganinsurancegroup.com
CallMD: Members have access to a nationwide network of medical doctors available 24 hours per day / 7 days per week for consultation or routine medical needs through the convenience of a toll free phone number, without having to take time to make an appointment or wait in line at a doctor's office. CallMD maintains members' electronic medical records (EMR) in a highly secured, Internet accessible environment and makes this information available to our network doctors prior to a doctor consultation. Furthermore, a CallMD Doctor can write a prescription where allowed by law when sufficient medical history is available. (CallMD cannot write prescriptions for narcotics or DEA controlled substances.)
Dental Insurance Plans- Individual or Group
The companies we represent offer individual dental insurance plans, in addition to group plans, that provide you with the coverage you need to promote good dental health.
With any of the individual dental plans, you can take advantage of:
Preventative care with NO deductible or waiting period.
Only a $50 annual per person (limited to three individuals) for Basic or Major services.
Preventative, Basic, or Major services qualify for coverage under all dental plans provided.
Vast network of dentists. Over 70,000 dentists participate in these plans.
Individual monthly rates are very affordable.
The average rates are listed below-
Single coverage- about $20.00 per month.
Husband/Wife coverage - about $40.00 per month.
Family coverage - about $70.00 per month.
Call for a firm quote today. Toll Free 877.811.7260
Group Dental Rates available with Group Health Coverage. Please call for more information.
What is an HSA? An HSA has two parts –
Part one - A high-deductible health plan- these plans usually cost less than other plans
Part Two – A tax-advantaged, portable savings account- this account pays for current medical expenses which builds like a Medical IRA.
A Health Savings Account (HSA) helps you save money on health care. By making you a part of the medical services decision process, HSAs are designed to help you manage medical expenses and reduce the continuing raising of health care expenses. Equally as important, the money you save remains part of your retirement account, even if you leave your present employer. In short, if you don’t use all the money in your HSA for medical expenses, it can accumulate as tax-free savings for your retirement. One final benefit, HSAs can pay for many more procedures than were ever allowed before by government sponsored programs.
Health Savings Accounts help you save money on unavoidable expenses and build investment savings for your retirement.
Can I get an HSA?
Anyone under age 65 who buys a qualified high-deductible policy can open an HSA. You can't be covered by another health insurance policy that isn't a qualified high-deductible plan (either as an individual or a dependent), however you can still have other disability, dental, vision and long-term care insurance policies.
How much can I contribute annually to an HSA?
In 2008, you can contribute up to $2,900 to an HSA if you have self-only coverage or up to a max of $5,800 for family coverage. If you are 55 years old or older, you can contribute an extra $900 in 2008.
Can any high-deductible health insurance policy qualify for an HSA?
Any high-deductible health insurance policy can qualify, as long as it meets the IRS requirements. In 2008, the deductible must be a minimum of at least $1,100 for individuals or $2,200 for families, and the annual out-of-pocket expenses cannot exceed $5,600 for an individual or $11,200 for a family (including the deductible and co-payments. The premiums are not included in this calculation. Individuals can buy high-deductible policies on their own or through their employers.
Where can I open a health savings account?
Many financial institutions offer these types of accounts. Call your local institution or go to www.hsafinder.com for more information.
Would I fund an HSA with pre- or post-tax dollars?
If you open the HSA on your own, your contributions will be deductible when you file your taxes, even if you don't itemize. If your plan is through your employer (i.e. group insurance), and your employer offers a high-deductible health insurance policy, you may be able to make pretax contributions, like you would with a flexible-spending account.
You can now deduct your contributions up to the $2,900/$5,800 limit -- plus an extra $900 if 55 or older -- regardless of the size of the deductible.
Do the tax benefits phase out at certain income levels?
Unlike many other tax breaks, there aren't any income limits. Anyone under age 65 who buys a qualified high-deductible policy can open an HSA.
If I set up HSA through my employer, what happens if I switch jobs?
You can keep the money in an HSA account even after you leave that job, similar to a 401(k). But you will get stuck with a 10% penalty -- plus an income-tax bill -- if you use any of the money for nonmedical expenses before age 65.
What happens if I want to withdraw the money for nonmedical expenses after age 65?
You won't be hit with the 10% penalty if you use the money for nonmedical expenses after age 65, but you would still have to pay income taxes on the money. Keep in mind that you can continue to withdraw money from the account tax-free for qualified medical expenses after age 65.
Can a couple who is planning to retire early open an HSA?
Sure. Anyone under age 65 can contribute to an HSA if he or she buys a high-deductible health insurance policy, and you can contribute an extra $900 in 2008 if you're 55 or older. This catch-up contribution amount will increase to $1,000 in 2009. You can't make new HSA contributions after age 65, but you can still use the money in your account tax-free for medical expenses at any age. You'll owe income taxes on the money -- but no penalty -- if you withdraw the money for nonmedical expenses after age 65.
Do contributions to an HSA in any way affect one's ability to contribute to an individual retirement account?
No. Your HSA contributions won't affect your IRA limits -- $5,000 per year or $6,000 for those over 50. It's just another tax-deferred way to save for retirement.
