Most Important Features Your Health Insurance Should Include

You purchase health insurance for yourself and your family so you can make sure you are prepared for small and large health care needs and expenses. And you want to be sure that insurance includes the necessary features. Here are the most important ones to make sure your insurance encompasses.

Specific Coverage

Your health insurance should cover the medical needs you have without covering those you don’t have. For example, if you anticipate having a baby, make sure your policy covers prenatal and maternity expenses. Also, make sure it includes adequate and quality coverage for baby and child medical expenses. If you do not plan to have a baby, you do not need this type of coverage, so it’s fine to get a policy that doesn’t emphasize such coverage.

Pre-Existing Conditions

If you or someone in your family has a pre-existing condition, you probably want a health insurance policy with coverage for that. Keep in mind that policies differ as far as what they cover when it comes to pre-existing conditions. So inform yourself, and consider your options wisely and carefully. Bye Financial Group, LLC, serving Grand Ledge, MI area, can help you do this.

Affordability

Most people have a budget that puts a cap on how much they can spend on health insurance and medical needs. Figure out how much you can afford per month in health insurance costs so you know which insurance is affordable for you when you look at options. Ideally, you want to get the best coverage you can while still keeping the cost reasonable.

There are other aspects that your health insurance should include depending on your specific needs. Consider what you and your family need and what you can afford when determining the features that are best for you. Bye Financial Group, LLC, serving the Grand Ledge, MI area, would be happy to help, so get in touch when you’re ready to look into health insurance options.

How to Determine the Type of Life Insurance You Need

When it comes to life insurance, there is more to determine than how much you need and if you even need it at all. If you are considering getting life insurance, then you need to know about the different types available. This will help you determine the best option for you to purchase from Bye Financial Group, LLC, serving Grand Ledge, MI.

  • Term Life – Term life insurance is the type of insurance that is set for a specific number of years. The number of years depends on your policy, but you can usually purchase it for 10, 20, or 30 years at a time. 
  • Whole Life – Whole life insurance is a type of life insurance that is a bit more expensive, but it will last for the life of the individual. You pay the premium for a set number of years, and once you are done, you will have the policy for life. There is also sometimes an investment vehicle. 
  • Universal Life – Universal life is a blend of both term and whole life. This usually does not last for someone’s entire life, but it does sometimes last longer than term and also has that investment vehicle option for the individual to take advantage of.

Now that you know the types of insurance policies available to purchase, you can better determine the best one for you. If you are still unsure of which one you need, be sure to reach out to us here at Bye Financial Group, LLC, serving Grand Ledge, MI, today. We can explore all of the options with you and find the right one for your situation. Reach out to our agents to learn more.

3 Questions You Should Ask Your Agent About Auto Insurance

Knowing what you are covered for by your auto insurance company before signing any coverage is vital in protecting you against incurring any extra costs. Before approaching an agent, it’s important you have relevant questions to ask regarding the plan.

Having been in the sector for a long time, Bye Financial Group, LLC in Grand Ledge, MI has all the relevant information on three important questions to ask your agent.

Does my insurer have some discounts for me?

Many insurance companies offer bountiful discounts ranging from being a trusted customer, an associate of a particular organization, or if you are a student. Bye Financial Group, LLC in Grand Ledge, MI advocates that you interrogate your agent so that you be aware of such discounts. Besides, if your agency doesn’t offer such discounts, talk up your agent to link you with one which offers them.

What is covered in my auto-insurance plan?

Many auto insurance customers ask little about what’s covered in their plans. Enquire about each policy you are paying for from personal injury protection policy to property destruction liabilities, and etc. Your agent should explain in detail all the sensitive issues regarding the coverage for each policy in respect to damages or any deductibles which you may need to compensate.

Are there restrictions on how my family member or I will use my assets

Before purchasing any coverage, ensure your agent explains to you any restrictions regarding how you use your assets. He/she should explain if protections will be there for your family member(s) in case any damages or accidents occur during their period of usage.

The above questions should help you understand the services you’ll be paying for and open more room for discussion on how effective your insurance coverage will benefit you, your business, or family as a whole. Reach out to our offices to learn more and try our online rating tool to get a quote on auto insurance.

What Are Professional Disputes and How Can Commercial Insurance Help?

There are certain terms that small business owners may not be aware of before they begin work. This is usually because they’re focusing their minds on other matters, yet it can often hinder an owner not to think ahead when serving their clients. Bye Financial Group, LLC wants the people of Lansing and Grand Ledge, MI to have all the facts before they decide on commercial insurance for their company. 

What Is a Professional Dispute?

A professional dispute is typically something that stems from a client’s dissatisfaction. Let’s say you supply children’s birthday cakes to a variety of different neighbors in the area. One day you accidentally get two birthday cakes confused, and the wrong ones go home with the wrong people. Whether you think it’s justified or not, a client could demand an extraordinary amount of money because they feel you ruined their party. If you decide not to pay it, they may choose to take legal action against you. 

How Commercial Insurance Can Help 

Most commercial businesses have a general liability policy that protects them against a variety of mistakes that they may make (e.g., product defects, etc.) However, this policy won’t typically cover any professional disputes. Businesses in Lansing and Grand Ledge, MI should be doing everything they can to prepare themselves for many different claims that come their way, and Bye Financial Group, LLC can help. Our staff is available to help you decide what the right amount of coverage is for your business, regardless of what you do. Even if a lawsuit for a professional dispute is dismissed, it can still disrupt a company in a number of ways. Call us today if you want to minimize the negative effects of a professional dispute. 

Had Your Home Renovated? Should You Increase Your Home Insurance Coverage?

If you have renovated your home in the greater Grand Ledge, MI area, you may wonder if you need to increase your home insurance coverage. Here at Bye Financial Group, LLC, we would love to answer this question for you. Read on to find out the answer.

Renovations and Your Home

If you have completed renovations to your home, you will likely need to change your home insurance policy. 

The first reason you may need to change your policy is to cover the new items you placed inside of your home. If you placed elements such as granite, marble, or other higher-end finishings that weren’t there before, you would want to ensure these items are included in your policy. If not, the replacement items for your home in the event of a tornado or other damaging event, may not include the higher-end finishings you just installed. 

The second reason why you may need to change your home insurance policy is to increase your home insurance coverage. If you completed home renovations, you might have increased the value of your home. If you have done so, you will want to have an appraisal done to determine the correct value of your home and then ensure that your home insurance policy covers the new value of your home. 

If you are looking for a new home insurance policy thanks to renovations you completed in your home, contact Bye Financial Group, LLC, serving the greater Grand Ledge, MI area today. We can help you determine what policy limits you need and write up the best home insurance policy for your situation. Also, try our online rating tool for quotes on home and auto insurance from home.

Why is health insurance important?

Bye Financial Group, LLC in Grand Ledge, MI does not stop finding creative ways to provide you with affordable coverage.

Why Health Insurance? 

  • Uninsured people are at risk. In 2001, a study by the Institute of Medicine found that a lack of medical insurance is associated with about 18,000 deaths. In 2009, according to the American Journal of Public Health, nearly 45,000 Americans would die annually as a direct result of being uninsured. Further, a study completed at Harvard Medical School found a mortality hazard ratio of 1.40, which meant that for those Americans without health insurance, they were 40% more likely to die than those with health insurance.
  • Those without insurance receive less timely medical care with poor health outcomes.
  • A more significant portion of the dollar is spent out of pocket causing a financial burden for families.
  • While safety-net care from hospitals and clinics improves access, this is not a substitute for health insurance. 

Stop Gap Short Term Health Insurance

The bottom line is to receive some form of healthcare insurance, even if it’s for the short term. Short-term policies are used when you begin a new job and need the temporary coverage between the waiting periods, you lost your job looking for an alternative to COBRA, you may have missed the ACA deadline, or you are over 26 and no longer qualify to be on your parent’s plan.

At Bye Financial Group, LLC in Grand Ledge, MI, our agents stay up to date with all the changes in healthcare policy. We are here for you. Questions? Please call us!

What Types of Life Insurance Contracts Are There?

Life Insurance Options with Bye Financial Group, LLC

In the state of Michigan, it is not legally required that a person must purchase a life insurance policy, however, many people choose to do so. This is because it can be a valuable tool in protecting assets and because it can protect loved ones from having to absorb funeral expenses as well as debts. Not all life insurance contracts are the same, and it is important to learn the differences.

Term Life Insurance

This type of contract offers death benefits only and does not build up any cash value. This is a good choice for people who are younger and in good health because it is often the most affordable insurance option. Term life insurance policies are written for a specific number of years, for example, 15, 20, 25, 30, or even more. The insured will typically need to re-qualify with their current health condition and age when the term expires, should they wish to keep their insurance.

Other Types of Insurance Contracts

Permanent life insurance lasts as long as the insured makes payments, and it provides death benefits and a cash value sum. Whole life insurance maintains the same terms, protection, and payment throughout the entire lifetime of the coverage, even if the insured was young when they bought their insurance. Universal life insurance — a form of permanent life insurance — has flexible terms, letting the insured decide what portion of their premium will go to death benefits or toward cash value. 

Bye Financial Group, LLC of Grand Ledge, MI Can Help

Bye Financial Group, LLC is experienced in serving the residents of Lansing and Grand Ledge, MI with their insurance needs. Our friendly professionals can discuss any questions you may have regarding the various life insurance contracts. Contact us to get your all your life insurance needs met today!

How Can You Protect Yourself from Uninsured Motorists?

Although the U.S laws have made it almost mandatory for every motorist to purchase auto insurance, there are still many people who have not insured their vehicles. According to recent statistics, in every eight drivers on the road today, one is not insured. The number might even be higher in some areas than others. The chances of being involved in an accident with a vehicle that is uninsured leaves you at risk to suffer significant financial loss. So how can you protect yourself from such instances?

Take Uninsured Motorist Coverage

An uninsured motorist policy is meant to secure you from drivers whose insurance is inadequate to cover damages caused to others. This insurance policy caters for damages created by others without insurance coverage. Having uninsured motorist coverage, also known as underinsured motorist coverage, will save you the stress of filing lawsuits against uninsured motorists.

Contact a Company That Understands You

If you want to secure yourself against uninsured motorists, then you need to seek the assistance of a reliable insurance company. Most companies are not open with their terms, and this results in the client being taken up and down when accidents occur. You need a company that will give you a complete breakdown of what uninsured coverage is all about and explains what is covered under this policy. This will help you determine whether the coverage will work for you or not.

If you are a resident of Lansing or Grand Ledge, MI, then you have an excellent opportunity to get quality services from Bye Financial Group, LLC. The company provides coverage against uninsured and underinsured motorists. You will also get advice on how to go about various accidents and claims processes.

Even if it is not mandatory to have an uninsured/underinsurance policy in your state, you should take one for security. You can contact Bye Financial Group, LLC in Grand Ledge, MI for assistance about this policy. Also, try our online rating tool for quotes on auto insurance.

Considerations For Commercial Insurance For the Service Industry

You Will Say Good "Bye" When You Insure With Bye Financial Group, LLC

The pun is intended because as a business owner you cannot afford to have inadequate coverage for your liability aspects or the property aspects of your business. You have to develop a good relationship with your broker or insurance agent. You have to choose a company that will be on top of the insurance requirements in Lansing or Grand Ledge, MI and the state mandates as well. 

Michigan Residents are Service Oriented Citizens

People who reside in our state are known for our tried and true work ethic. Getting great service is a given when you hit the state of Michigan. What are some of the items that people in the service industry need to consider when purchasing their commercial insurance policy?

  • The amount of liability that may be incurred when dealing with the public
  • The amount of service provided to the public 
  • Are there governmental bodies that may be able to share the insurance burden depending upon grants or funding they may contribute to your service industry?
  • Are services delivered in-house or in some other space? Liability varies widely in this area. 

In short, the main consideration for commercial insurance in the service industry is to sit down with an agent and determine where your company’s liability is. This process is not for the general public. A professional trained in commercial insurance is required for success. 

Stop by our office or give us a call today at Bye Financial Group, LLC in Grand Ledge, MI. We also serve Lansing, MI, and the surrounding areas. The complexity of commercial insurance can not be navigated without a professional aboard. Together we will find the best coverage to meet every aspect of your venture. 

Weathering the Storm: How to Prepare for the Worst

Storms can not only leave you without power or homebound for a few days but can also cause significant damage to your home. Bye Financial Group, LLC in Grand Ledge, MI knows the importance of preparing your home for seasonal storms.To help minimize your damage and protect your Michigan home this storm season, follow the tips below.

Maintain Trees and Shrubs in Your Yard

Whether it is straight line winds or heavy snow in the winter, branches and downed trees are one of the primary causes of home damage during storm seasons. Making sure to remove any dead or damaged branches or trees from your yard will help prevent expensive roof and window repairs.

Keep Your Gutters Clear

Throughout the winter months, ice can build up in gutters, downspouts, and along the edge of your roof. When these ice barriers form, melting snow may have nowhere to go but through your roof. This melting snow may cause water and ceiling damage in your home. Keeping your gutters clear of leaves, debris, and buildup will help to keep the water properly draining and prevent ice barriers.

Address Roof and Siding Issues

High winds and extreme temperature changes can cause roof shingles and house siding to become warped or damaged. Even the slightest cracks can cause water to get through causing damage to the walls and ceiling as well as the potential for mold and mildew. Each year you should closely check your siding and roof for any possible damage and make the necessary repairs.

Make Sure Large Patio Furniture is Secured

During storm season, when outdoor furniture is not in use, it should be secured properly. Heavy winds can pick up large pieces of furniture, knocking them into the side of your home causing window and siding damage.

If you would like more information on how to protect your home this storm season or are interested in a home insurance quote in Lansing, Grand Ledge, or the surrounding areas of Michigan, contact the experienced agents at Bye Financial Group, LLC in Grand Ledge, MI today.