Why You Should Increase Your Life Insurance Policy

Life insurance is important if you will be leaving anyone behind upon your passing. Of course, you can’t simply buy a life insurance policy and forget all about it. This is because some of the changes that occur in your life will warrant another look at your policy and a potential increase in coverage. San Marcos Insurance Group, serving Chandler, AZ, wants to share a few instances when you may need to increase your coverage.

When You Are Financially Responsible for an Ill Loved One

If you have a family member who you are taking care of medically and financially due to them becoming seriously ill, you may want to consider increasing your life insurance premiums. Think about it: who would take care of them if you pass away? Adding a cushion to your insurance policy will help ensure they are properly taken care of upon your passing in terms of medication, treatment, and even long-term medical care.

When You Get a Significant Raise at Work or Change Jobs

When you first purchased your life insurance policy, you likely took into account your income at the time. If your income has significantly changed since then, such as from a considerable raise or changing jobs, you may want to consider an upgrade in your current coverage. In doing so, you can ensure that your family is able to live within the same means they are living now even after you have passed on.

When You Have a New Child

Regardless of whether you are having your first child or your fourth child, a priority of yours should always be ensuring they are provided for. Increasing your life insurance coverage when a child is on the way is a good way to ensure your family does not have to deal with any financial burdens when they should be spending their time grieving your loss. Life insurance can help your family with day-to-day expenses, funeral costs, childcare, education, and more. 

If you are dealing with a situation that may warrant an upgrade to your life insurance policy, contact the agents at San Marcos Insurance Group, serving Chandler, AZ.

3 Things You Didn’t Know That Health Savings Accounts Often Cover

If your health insurance plan comes with a health savings account, you may be curious as to how you can use these funds. An HSA is specifically designed for those with higher deductibles, and these funds can be used for a number of different expenses. San Marcos Insurance Group wants to share some of these with Chandler, AZ residents so they can know what to expect.

Dental Fillings

It doesn’t take long for dental work–even the simple procedures–to add up. For instance, you are probably out a few hundred dollars just to fill one cavity. The good news is that your health savings account plan will foot the bill.

Corrective Eyewear

The funds in your HSA can help to cover the cost of prescription eyewear. It should cover the cost of eyeglasses or contact lenses. The money in this plan can also be used to cover vision fees, copays, and more that may not be covered by your standard health insurance policy or separate vision insurance policy.

Breastfeeding Supplies

Your health savings plan account can reimburse you for the money you spend on breastfeeding supplies, such as pumps, nursing bras, gel pads, and more. To ensure you are eligible for reimbursement, make sure to save the receipts from purchase. At the same time, you should speak to your health insurance agent ahead of time to obtain a list of items that are covered under the plan.

If you would like to learn more about health insurance and health savings accounts, reach out to San Marcos Insurance Group, an insurance company that serves Chandler, AZ and surrounding areas.