What are Accident Expense Policies?

If you have children, you already know how quickly accidents can happen. Occasionally a simple band-aid will not do the trick and a trip to the emergency room may be in order. As a parent, you have first hand experience on how expensive major medical procedures are. Accident expense policies are designed to cover the gaps of major medical deductibles and insurance co-pays, along with rehabilitation associated with an accident. They will usually cover up to $15,000 per incident and can greatly reduce medical insurance premiums by allowing you to increase your deductibles. These plans pay in addition to your current coverages.

We offer a variety of policy options to meet almost any budget. Give us a call today to find out more information on all of our NC insurance programs - 910-343-1554.

New Look for Our Web Site

We are close to finalizing the redesign of our main corporate web site at AarowFinancial.com. For those of you who are unfamiliar with our company, we are an independent insurance agency headquartered in Wilmington, NC that offers life, long term care, and accident and disability insurance policies throughout North Carolina. Our new site if full of information on our carriers' various insurance products. We are currently working on integrating online quoting functionality to better serve the needs of our more tech savvy clientele.

We also are specialize in retirement and savings plans. Whether you are new parent looking for term life insurance protection or someone nearing retirement seeking saving strategies, we can likely help point you in the right direction. Stop by our Market Street location or call us toll free at 800-343-3401.

Please feel free to offer feedback on how we can improve our new web site and thanks again for considering Aaron Financial Group for all of your Wilmington, North Carolina insurance needs.

Insurance Physical Exams

Be sure to follow these guidelines before your insurance physical:

1. No alcohol 24-48 hours before

2. at least 8 hour fast

3. Take the exam in the morning, your blood pressure is better then

4. No strenous excercise 24 hours before

5. take the weight part with light to minimal clothing and no shoes (if your shoes weigh 2 lbs and that two pounds puts you in another underwriting class, it could cost hundreds over the life of policy.)

6.Avoid salt 24 hours before, it can raise BP also

7. If you are taking a normal regimen of medication, keep taking it, that will actually look better to the company that your condition is controlled with regular medication

Disability Insurance

DI coverage is a powerful tool in protecting a person's most precious asset, the ability to go out and earn money. Disability coverage can preserve a family's financial future. When a person is stricken with a disability, they need to focus on recovery, not losing homes, cars, etc. Disability insurance can allow a person to recover and enjoy life again.

Benefits of Permanent Life Insurance

1. Tax-Deferred accumulation of policy cash value
2. Avoidance of 10% tax-penalty on withdrawals before 59 1/2 on qualified plans
3. FIFO (First in-First out) tax treatment on withdrawals = tax free withdrawals up to amount paid in.
4. Tax-Free death benefit to beneficiaries
5. Death benefit in excess of policy cash value
6. Death benefit avoids probate

Medicaid Planning

41% of American end up using medicaid to help pay for their long-term care. Many people feel that with proper "Medicaid Planning" they can use federal assistance to help cover their long-term care needs. Here are some things to consider: giving away money may be subject to gift taxes if above allowable limits and this can be far more costly in the long-run than long-term care insurance. The senior will loose control of their assets by giving them away and may need to end up asking family to give them assets back as needed. As of the end of 2008, a spouse may currently only keep one home, a car, a small amount for final expenses, $104,000 in financial assets, and $1,711 a month in income total. Any annuity values and income may also be kept in addition, but after the spouse dies the feds keep enough money to reimburse themselves for their pay-outs. This can deplete inheritances greatly. Medicaid protects the poor, it is not designed to help the middle and upper class.

Life Insurance Beneficiary Review is Vital!

Make sure that your beneficiaries are up to date. For example, if you leave an ex-husband or wife as the beneficiary of your policy, they WILL get the death proceeds. It will not be over turned in a court of law. Depending on how your contingent beneficiaries are set up, if at all, 100% of your death benefit could go to someone that you do not wish to have the funds. The same goes for deceased beneficaries. If you have a deceased parent or spouse as your beneficiary, depending on how your contingent beneficiaries are set-up, the death benefit can go into your estate and be divided as state law dictates. That state's law could send the money through probate to someone you may not wish to have the funds.