FAQ
Most Commonly Asked Questions About Us.
1. Who are we?
Answer:
UIB Agency an independent team of licensed insurance agents specializing in health and life insurance. Unlike agents tied to a single carrier, we work with a wide range of reputable insurance companies to offer you the best options tailored to your unique needs.
2. What sets us apart from other insurance providers?
Answer:
Our independence means our advice is 100% client-focused. We are not obligated to promote any specific company’s products. This allows us to compare various plans objectively, recommend the best value, and deliver transparent, unbiased service—all with one goal in mind: your satisfaction.
3. Is there a cost for using our services?
Answer:
No. Our services come at no additional cost to you. We earn commissions directly from the insurance carriers, which means you receive our expert advice and personalized service completely free of charge.
4. What types of insurance products do you offer?
Answer:
We offer a comprehensive portfolio of insurance products, including:
- Health Insurance: Individual and family plans, Medicare, short-term coverage, and more.
- Life Insurance: Term and permanent policies designed to protect your family and meet your financial goals.
- Long-Term Care & Disability Insurance: Solutions to help safeguard your assets and income if you ever face extended illness or injury.
We customize our recommendations based on your circumstances, ensuring you get the protection that fits your lifestyle and budget.
5. How do you ensure that your recommendations are unbiased?
Answer:
As independent brokers, we are not tied to any single insurance company. Our only commitment is to you—our client. We compare policies from multiple carriers to find the right coverage that meets your needs and budget, without any hidden agendas.
6. How do you support your clients after my policy is in place?
Answer:
Our relationship with you doesn’t end at enrollment. We provide ongoing support—whether it’s answering questions about renewals or helping you update your coverage as your needs change. Our customer service team is always just a call or email away.
7. What does it mean to be a client-oriented broker?
Answer:
Being client oriented means we listen to your specific concerns, take the time to understand your financial and coverage needs, and guide you through the often complex world of insurance with clarity and honesty. Our focus is on building long-term relationships and ensuring you always have the protection that fits your life.
8. How can I get started?
Answer:
Getting started is easy. Simply contact us to schedule a consultation—either by phone or through our online scheduling tool. During your consultation, we’ll review your current coverage, discuss your goals, and help you explore the best insurance options available.
9. What credentials do your brokers have?
Answer:
All of our brokers are fully licensed and have extensive experience in both health and life insurance markets. We stay up to date with industry standards, ongoing training requirements, and regulatory changes to ensure we provide you with knowledgeable, professional advice.
10. How do you protect my personal information?
Answer:
Your privacy is paramount. All information you share with us is treated with the highest level of confidentiality and is used solely to help find the best insurance solutions for you. Our systems adhere to strict data protection laws and industry best practices.
11. How do you measure customer satisfaction?
Answer:
Our success is built on happy, long-term relationships with our clients. We regularly seek feedback through surveys, follow-up consultations, and direct communication. Our commitment to exceptional service is reflected in our high customer retention and referral rates.
Health Insurance FAQs
1. What is health insurance and why do I need it?
Answer:
Health insurance is a financial product that helps cover the cost of medical care—from routine doctor visits and prescription drugs to emergency treatments. It protects you from high out-of-pocket expenses, ensures access to a network of providers, and may even offer extra benefits (like wellness programs) that support your overall health.
2. What types of health insurance plans are available in the United States?
Answer:
There are several key categories:
- Employer-Sponsored Plans: Provided by your employer for you and often your family.
- Individual and Family Plans: Purchased directly from insurers or through a marketplace, offering flexibility in coverage for single individuals or entire families.
- Medicare: A federal program mainly for those aged 65 and older or younger individuals with certain disabilities.
- Medicaid: For low-income individuals and families (eligibility varies by state).
- Long-Term Care Insurance: Covers non-medical and custodial care needed over a prolonged period, such as in-home assistance or nursing home stays.
- Disability Insurance: Provides income replacement if you become unable to work due to illness or injury.
3. What is Medicare and who qualifies for it?
Answer:
Medicare is a federal health insurance program primarily for people aged 65 or older, as well as younger individuals with certain disabilities or end-stage renal disease. It consists of several parts:
- Part A: Hospital and inpatient care.
- Part B: Outpatient services.
- Part C (Medicare Advantage): Offered by private companies that provide all Part A and Part B benefits (often with extra services).
- Part D: Prescription drug coverage.
Eligibility is generally determined by age or qualifying health conditions, and many people are automatically enrolled when they begin receiving Social Security benefits.
hhs.gov
4. How do Individual and Family health plans differ?
Answer:
Individual plans are purchased by a single person for personal coverage, whereas family plans extend benefits to cover spouses, children, and sometimes other dependents. Both types can vary widely in cost, provider networks, deductibles, and out-of-pocket limits. When shopping, compare premiums, cost-sharing details, and whether your preferred doctors and hospitals are in-network.
5. What is long-term care insurance and what does it cover?
Answer:
Long-term care insurance is designed to help pay for services that assist with daily living—such as bathing, dressing, or eating—when you have a chronic illness, disability, or cognitive impairment. It can help cover costs at home, in assisted living facilities, or nursing homes. Because neither traditional health insurance nor Medicare typically covers custodial care, long-term care insurance protects your assets and relieves family members from extensive caregiving burdens.
6. What does disability insurance cover?
Answer:
Disability insurance provides income replacement if you become unable to work because of an illness or injury. It comes in two forms:
- Short-Term Disability (STD): Covers temporary disabilities, typically for up to six months.
- Long-Term Disability (LTD): Provides benefits for extended periods—often until retirement age or until recovery.
This coverage helps ensure you can meet your financial obligations, such as mortgage or bills, even when you’re not earning a salary.
7. How do I choose the right health insurance plan?
Answer:
Start by evaluating your healthcare needs (frequency of doctor visits, medications, planned procedures) and budget (premiums, deductibles, and co-pays). Compare available plans by checking:
- Network coverage of your preferred providers.
- Out-of-pocket maximums to protect against high costs.
- Any additional benefits (like telehealth services or wellness programs).
For government options like Medicare or Medicaid, be sure to review eligibility criteria and plan differences carefully.
Life Insurance FAQs
1. What is life insurance and how does it work?
Answer:
Life insurance is a contract between you and an insurer in which you pay premiums, and in return, your beneficiary receives a tax-free death benefit upon your passing. It is designed to provide financial support for your loved ones, helping to cover debts, living expenses, and final costs.
2. What are the main types of life insurance policies available?
Answer:
The two primary categories are:
- Term Life Insurance: Provides coverage for a specific period (e.g., 10, 20, or 30 years). It is generally less expensive and is ideal for income replacement needs during your working years.
- Permanent Life Insurance: Includes whole life, universal life, and variable life insurance. These policies provide lifetime coverage and accumulate cash value over time, which can be borrowed against or withdrawn under certain conditions.
3. Who needs life insurance?
Answer:
Life insurance is most important if you have financial dependents or outstanding debts. It helps ensure that your family or chosen beneficiaries have the financial resources to maintain their standard of living, cover mortgage payments, pay for education, and manage other financial responsibilities if you are no longer there to provide for them. Even single individuals may consider a policy to cover debts or final expenses.
4. How do I decide how much life insurance coverage I need?
Answer:
Consider factors such as your current income, outstanding debts (like mortgages or loans), future expenses (college tuition for children), and any other financial responsibilities your family would have in your absence. Common methods include multiplying your annual income by a set factor (often 10–15 times) or using detailed calculators that account for debts, future needs, and existing assets.
5. What is the difference between term and permanent life insurance?
Answer:
- Term Life Insurance: Offers coverage for a fixed period. It does not build cash value, so if you outlive the term, there is no payout. Its lower cost makes it attractive for temporary needs.
- Permanent Life Insurance: Provides lifelong coverage and includes a savings component (cash value) that grows over time. This cash value can be accessed through loans or withdrawals and can serve as a financial resource during your lifetime.
6. How do life insurance policies accumulate cash value?
Answer:
Permanent policies, such as whole life or universal life insurance, allocate a portion of your premium to a cash value account. This account earns interest (or investment returns) tax-deferred over time. You can often borrow against this cash value or withdraw funds, although doing so may reduce the death benefit.
7. Are the death benefits from life insurance taxable?
Answer:
In most cases, the death benefit paid out from a life insurance policy is not subject to income tax. However, if the policy has accumulated cash value that is surrendered or if there are outstanding policy loans, there may be tax consequences on any gains. It is always best to consult a tax professional for personalized advice.
8. What factors affect my life insurance premium?
Answer:
Premiums are based on factors such as your age, gender, health history, lifestyle (e.g., smoking status), occupation, and the amount and type of coverage chosen. Underwriting may also review your family medical history and other risk factors that could affect life expectancy.
9. Can I have more than one life insurance policy?
Answer:
Yes, you can hold multiple life insurance policies. Many individuals supplement employer-provided coverage with an additional individual policy or choose different types of policies (e.g., a term policy for income replacement plus a permanent policy for cash value benefits). It’s important to consider your overall financial plan and avoid paying for overlapping coverage unnecessarily.
10. What is the “free-look” period in life insurance?
Answer:
The free-look period is a window (typically at least 10 days, or up to 30 days for mail-order policies) during which you can review your new policy. If you decide the policy does not meet your needs, you can cancel it without penalty and receive a full refund of premiums paid.
These FAQs provide a detailed yet digestible overview of the key concepts in health and life insurance. If you have further questions or need personalized advice, consider consulting with a licensed insurance professional who can help tailor coverage to your specific needs.