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New Medicare Numbers Starting in 2018

We at Term Team EZLife have been telling clients for years, that if you have an Medicare Advantage plan, put your Medicare card in a safe place – at HOME!

That’s because, as most of you know, your Medicare card used your Social Security number followed by a letter to identify you. This has always presented a real threat to your identity if the card is ever lost or stolen. In the past, if you have a Medicare Supplement plan, you had to present both cards to your doctor’s office for billing purposes. That has all changed!

Safeguard yourself

Medicare is preparing to stop using Social Security numbers for identification next year and is sending new cards to patients with Medicare ID numbers. The move is required by a law enacted two years ago to discourage identity theft.

The Centers for Medicare & Medicaid Services (CMS) recently updated its web page to help healthcare providers prepare for the change. The agency began mailing the new cards with Medicare beneficiary identifiers (MBIs) back in April 2018. During a transition period through 2019, providers can use the MBIs or health insurance claim numbers (which are based on Social Security numbers) on transactions such as billing and claims.

The 2015 law, the Medicare Access, and CHIP Reauthorization Act, requires CMS to remove Social Security numbers from Medicare cards by April 2019.

CMS agency advised providers. “We’ll keep you posted about critical information so you can be ready to ask your Medicare patients at the time of service if they have a new card with an MBI.”

CMS plans a “wide-scale outreach” to let beneficiaries know that they need to bring their new Medicare cards when they get care and how to get MBIs if they lose their cards.

AARP’s Fraud Watch Network ambassador, Frank Abagnale, advises consumers not to share Social Security numbers unnecessarily. “And don’t carry your Medicare card unless you are on your way to a health care appointment,” he wrote last year. “Instead, make a copy and black out all but the last four digits.” The new Medicare cards using a random set of numbers will hopefully eliminate the need to take such safeguards and provide seniors peace of mind that they won’t need to worry about this threat to their identity any longer.


Excuses, Excuses, Why People Put off Buying or Reviewing Their Life Insurance Policies, Part 5

By Ralph R. Dickinson

“Why would I want to leave money for my Wife’s boyfriend?

Well, how do you respond to this? I could simply say, “What a selfish SOB, you don’t care about your family at all, do you?” But a statement like that from me would be worse that the objection. I would very likely lose the opportunity to gain his trust and convince him to think differently.

Life Insurance is there to make a way for your family to maintain the same lifestyle they had while you were alive. It is not to be used as a slush fund for a future significant other! It amazes me that some husbands and even some wives think so little of their spouse’ decision making processes if one of them were to pass away. This to the extent of rolling the proverbial dice of financial destruction. Just because of superstition, or a lack of faith in their loved ones to make the right decisions in the wake of their death.

Also, Life Insurance policies can be set up as a structured payout when they are taken out or at any time before death, to satisfy the leery so-to-speak. The Bottom line, there is no reason to not have at least have “Some” Life Insurance in force to aid your family in their time of need.

Preparing for your family’s needs in the event you are no longer here to provide for them is a task that should not be procrastinated on. Regardless of your current position, financial or otherwise, there are many who depend on you. Our responsibility to leave our children and other loved ones well cared for never goes away. Life Insurance, especially Term Life Insurance, is one of the least expensive ways to create the instant estate and provide financial security for the ones you love.

Choosing a Life Insurance Policy that fits your needs, life situation, and budget is a pretty easy task. Contact us now through our free Life Insurance Quoter.

Excuses, Excuses, Why People Put off Buying or Reviewing Their Life Insurance Policies, Part 4

By Ralph R. Dickinson

“Why Should I Invest in a Personal Term Life Insurance Policy, it seems like a waste of money?

Bottom line is, if you are the primary breadwinner or the homemaker in your household, the loss of either of you could severely distress the financial security of your loved ones, such as:
The Lifestyle that your family is accustomed too
Whether the mortgage or rent payment could be paid
College Plans for Your Children or Grand Children
Consumer Debt or Car Loans currently owed
Whether your spouse will have to work or take on another job
Severely affect your share of household duties
Replacing childcare that the homemaker provided
Devastating to your Finances
Additional Expenditures for childcare, food preparation etc.
The Mental Instability caused by the loss and assumed financial stress

A Personal Life Insurance Policy at its core is intended to replace the income of the Breadwinner if proceeds are invested properly. Life Insurance cannot replace your family’s loss but it can replace the income and/or the household services that the family member provided.

At best Life Insurance paid to beneficiaries can be structured into a lifetime income. At the very least it can and should provide debt freedom to the loved ones left behind.

These are all concepts that are great reasons for you to think about purchasing a life insurance policy.  Need a Quote you NOW!

Excuses, Excuses, Why People Put off Buying or Reviewing Their Life Insurance Policies. Part 3

By Ralph R. Dickinson

“But I already have life insurance!”

That’s great! However, there are many things to consider, even if you think you are up to snuff on your current policies;

1. Do you have enough coverage? You should have 10-20 Times your gross annual income in life insurance so you are able to adequately protect the loss of your current income. If your income rises you should supplement your current Life Policies with additional Term Life Protection.

2. Have you had a change in your circumstances? You should review your policies when you add dependents or when dependents move out. A Life Insurance review would be a smart move if you started a business, added any risk investments to your portfolio, or taking out financing of any kind.
Most families and business owners are actually underinsured and if they ever need to make a claim, the Death Benefit received would not be enough to cover their current needs and debts. It is so very important that you review your coverage annually as this will keep you current with your ever-changing life situations such as:
• Future college expense
• Buying out business partners
• Paying off your Mortgage
• Paying off Consumer Debt
• Setting up a Lifetime Income Stream for your loved ones

An Annual Policy Review is a simple, no-cost way to preserve your estate and help you know that you prepared.  Let us Quote you NOW!

Excuses, Excuses, Why People Put off Buying or Reviewing Their Life Insurance Policies. Part 2

By Ralph R. Dickinson

“But I Have Life Insurance through My Work”

Some employers provide Life Insurance policies as part of their employee benefits package at little or no cost to the employee. This is a great benefit if you have it. However, there are many things to consider if you have a Group Life Insurance Policy:

1. You rarely “Own” the Group Policy…..In other words, these Policies are not portable, so you can’t take them with you if you get laid off or leave the company.
2. You can lose your Life Insurance Policy for many reasons. It can simply be phased out of your benefits package at the company’s discretion.
3. Price is not fixed and normally rises every one to five years!
4. An employer can alter or change and even cancel the policy as they see fit.
5. Group Life Insurance Policies are based on the average age and health of the group as a whole. This means you could be paying the price for older and/or unhealthy co-workers!
6. You are probably way underinsured with only a Group Life Insurance Policy. You should have 10 to 20 Times your gross annual income in Life Insurance Protection privately.

Compare your Group Rate against Private Industry rates as we routinely beat Group Life Insurance Rates, Dare to Compare!

Excuses, Excuses, Why People Put off Buying or Reviewing Their Life Insurance

by Ralph R. Dickinson

Insurance Policies. Part 1

“But I Already have Life Insurance Coverage”

If you already have life insurance coverage, it’s important to review your policy periodically to ensure it still meets your needs, and more importantly that you are not paying too much. Certain life events, such as getting married or having a child, should prompt a review of your current policy as well. You should always make sure that your beneficiary details are correct and make any necessary changes.
These are just a few of the reasons it may be time to review your life insurance coverage:
• Recently married;
• Recently separated or divorced;
• Expecting or adopting a child or grandchild;
• Purchased a new home or refinanced your existing home;
• You now provide care for a parent or other relative;
• Started or stopped your own business, or added a partner;
• You or your spouse has retired or are planning to retire;
• Your children are about to commence or have completed college
The Fact is, everyone should evaluate their Life Insurance Policies annually! Not only for the few reasons listed above. You might even save on your premiums as well!

Get a quote now

Tattoo’s……Need, Want, or Desire????

We have had such a huge response to the Blog, “Life Insurance……Priorities, Priorities, Priorities” where I spoke about a couple and her husband’s new tattoo……That I just had to add this side note……

Tattoos are considered by some to be beautiful works of art, while others may think them to be abhorrent…….But no matter how or what you may think about them most would agree that as a “Financial Consideration”……Tattoos will (and should) always fall fully into the “Desire” category.

That is exactly why I wrote about tattoos previously…….If you really, really must have one, then it should fall in line behind basic necessities such as food, utilities, basic clothing, medical needs……and YES…….Life Insurance!

While I know there are many other things that most people would put ahead of an inexpensive Term Life Insurance Policy, I still cannot emphasize its importance enough! There is absolutely nothing you or your family can do about an untimely death……It cannot be put off, changed, or altered……But the timing of getting a (generally expensive) tattoo CAN be put off indefinitely, which would allow for other more important budget items to be appropriated for in your life……

I consider Life Insurance to be the most important “Insurance” you could own…..Why?…..Well it is certainly not because it pays me more to sell it……as it is one of the least expensive coverage’s overall you can buy! Life Insurance covers your beneficiaries for something you cannot “Buy” your way out of…..DEATH! While most other situations in life, financially and otherwise, can be fixed over time……There is nothing that can fix the certainty of dying…..Right?

I have never met a widow who said her husband had enough Life Insurance….. AND I do not think that anyone, in hindsight, would ever say, “I sure am glad Joe got that nice tattoo instead of that Life Insurance Policy before he died”……. Silly maybe…..But true so…….

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