Insurance questions, answered
Have insurance questions? You’re in the right place. Below are plain-English answers to the questions we hear most about retirement, life, health and Medicare coverage. Still unsure? Talk to a licensed broker — it’s free.
Retirement planning questions
For 2026, you can contribute up to $7,500 a year. If you’re 50 or older, you can add a $1,100 catch-up contribution, for a total of $8,600.
Yes. With qualified retirement accounts, you must start taking a Required Minimum Distribution (RMD) at age 73.
No. Shopping around with us is always free. In fact, we encourage you to compare several carriers so you can see which one fits you best.
No. Many annuities have no fees at all. However, some charge a fee for optional riders, so always check the policy details.
A fixed indexed annuity may be a good fit. You earn interest when the market index goes up, and you’re protected from losses when it goes down.
Yes. Fixed annuity rates are at their highest levels in about 20 years, so now is a great time to grow your retirement savings.
→ Learn more about retirement planning and annuities
Life insurance questions
Anyone whose family depends on their income. For example, life insurance can replace your income, pay off a mortgage or other debt, or fund your kids’ college.
It depends on your goals and budget. Here are the main options:
- Term life: affordable, with a fixed premium and death benefit for a set term (10, 20 or 30 years).
- Whole life: a fixed premium and death benefit for life. It costs more but never expires.
- Universal life: flexible. You can adjust your coverage and premiums over time.
- Indexed universal life: can grow tax-advantaged savings and provide tax-free retirement income.
There’s no one-size-fits-all answer. In fact, a mix of two types is sometimes the best solution. That’s why we compare options with you.
No. Quotes are always free, with no hidden fees. Just request a quote, and we’ll explain every option.
Here are the most effective ways:
- Buy coverage while you’re young and healthy.
- Don’t smoke.
- Choose term life if you need coverage for a set period.
- Match your coverage to your real needs.
- Pay once a year instead of monthly.
- Compare quotes from several carriers.
Your quote is based on the information you give us. However, your final rate depends on underwriting, so talk to one of our brokers for a personalized quote.
→ Get life insurance quotes from multiple carriers
Health insurance questions: enrollment and costs
As long as your information and payments are up to date, your plan renews automatically. If your plan changes, you’ll receive a new ID card by mail.
During Open Enrollment, which runs from November 1 to January 15. Outside that window, you may qualify for a Special Enrollment Period after a life event, such as losing job-based coverage or moving.
It’s help from the government that lowers your monthly premium. The amount depends on your income, age and household size, and it’s paid directly to your insurance company. To qualify, you generally can’t have affordable coverage through work or Medicare.
It’s the amount you pay each year before your plan starts paying for certain services, such as hospital stays and surgeries.
It’s a fixed amount you pay for a visit or service. For example, a regular doctor visit usually costs less than a specialist visit.
It’s the percentage of costs you pay after you meet your deductible. Once you reach your plan’s out-of-pocket maximum, your plan pays 100% of covered costs for the rest of the year.
Health insurance questions: plan types and networks
A PPO usually has a larger network than an HMO. You can also see doctors outside the network, but you’ll pay more when you do.
You must stay in the plan’s network, except in emergencies. Some HMOs cover only your local area, while others offer nationwide networks.
An EPO (Exclusive Provider Organization) covers care only within its network, except in emergencies. It’s often a middle ground between an HMO and a PPO.
In-network providers have agreed to lower rates with your insurance company, so you pay less. Out-of-network providers don’t have that agreement, so your costs are usually higher.
Everyone’s needs are different. That’s why our licensed brokers compare plans with you, based on your doctors, prescriptions and budget.
You pay the same price either way. With us, however, you get a broker who compares every option with you and helps you all year — not just at enrollment.
Medicare questions
At least 3 months before your 65th birthday. That’s when your Initial Enrollment Period begins.
Medicare Advantage usually has low or $0 premiums and uses a network. Medigap costs more each month, but it works with any doctor who accepts Medicare and covers most out-of-pocket costs.
No. We’re paid by the insurance carrier, so your plan costs exactly the same whether you use a broker or buy direct.
→ See how we help on our Medicare page
Didn't find your answer?
We’re happy to help. Call us at 305-677-9912, message us on WhatsApp at 786-319-7679, or send us a note, and a licensed broker will get back to you.