Insurance World

It’s no newsflash that writers love what they do – writing. Whether they’re writing children’s books, science fiction novels, Harlequin romances, or feature articles for various magazines, you can usually find a writer with a pen in her hand or keyboard keys at her finger tips.

That’s a good thing, too. Without writers, not only would the world lack entertaining and engaging fiction, but we’d also be without educational resources such as textbooks, and even the catchy writing we see on advertisements.

Good writing doesn’t come free, and neither does good health – well, good health insurance, that is. Regardless of how rewarding writers find their writing careers, unless they’re employed full-time, for example with an established newspaper or magazine rather than writing as freelance writers, chances are their writing careers aren’t offering any kind of health benefits. Medical costs usually come out-of-pocket for freelance writers.

The good news is that freelance writers don’t have to go without health insurance. Having a writing career also doesn’t mean purchasing an individual insurance policy is the only option. Since writing is a career that will always be in high demand, many people have gotten together over the years and formed several writing organizations.

The option to purchase a health insurance plan through these writing organizations is only one of the various benefits offered.

Writing organizations usually offer health insurance plans that are much cheaper than individual health insurance plans. This is because writers who purchase these health insurance plans will pay group, rather than individual, rates.

Sure, purchasing an individual health insurance plan is always an alternative, but for writers who take advantage of writing organization benefits, purchasing an individual health insurance plan can actually be a last resort. By researching and finding the best writing organization for them, writers can take advantage of group health insurance rates through the writing organization. A writing career doesn’t have to mean expensive or non-existent health insurance!

We all know that purchasing life insurance at an older age is more expensive than purchasing it while very young. In an attempt to provide affordable insurance to meet the life insurance needs of older insureds, some companies are now offering Guaranteed Acceptance Life Insurance.

Guaranteed Acceptance Life Insurance policy rates are less expensive than the traditional term insurance policies. As the name implies, you are guaranteed to be accepted for this life insurance. There are no health questionnaires to complete and no physical exams to take. As long as you pay the premiums, the policies cannot be cancelled. Additionally, you may lock your premium rate for the policy amount you want. Your rates will not change for as long as you keep your insurance.

Where’s the catch you may be asking. Well, the policies are written for a limited period of time. For example, Colonial Penn’s policies are for a two-year limited benefit period. They are available for people between the ages of 50 and 85 (This age range varies depending on insurance company and state regulation).

Generally, if death occurs during the first few years, a reduced benefit is paid or the company may return the premiums paid plus interest. For instance, with a Gerber Life policy, if death occurs by natural causes within the first two years (during the limited benefits time), the beneficiary will receive all of the premiums paid plus 10%. However, if death was a result of an accident, or if death due to natural causes occurs after the two years, your beneficiary will receive the full benefit amount. In the event of suicide (with certain state exclusions), the beneficiary will receive the amount of premiums paid only.

Most life insurance companies offer a Guaranteed Acceptance Life policy for seniors. There may be variations from state to state, but the basic premise is the same. They all offer an affordable insurance option for seniors.

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