Questions & Answers

What is a Special Enrollment Period (SEP)?

A Special Enrollment Period allows you to enroll in or change your health insurance plan outside of Open Enrollment when you experience a qualifying life event.
Common SEPs include:

• Loss of employer or other qualifying coverage

• Moving to a new state or service area

• Marriage or divorce

• Birth or adoption of a child

• Change in immigration status

Most SEPs offer a 60-day window from the qualifying event. Starting early helps avoid gaps in coverage.

Are pediatric dental and vision included in ACA Marketplace plans?

Yes. Pediatric dental and vision are essential health benefits under the Affordable Care Act for children under age 19.
This means:

• Pediatric dental may be embedded in the health plan or offered as a stand-alone option.

• Pediatric vision generally includes annual exams and glasses or contacts.

Even when adults aren’t covered for these services, children receive these benefits on ACA plans.

How long does it take for a life insurance application to be processed?

The timeline varies depending on the type of policy and the carrier.
Average processing times:

• Accelerated or simplified underwriting: A few days to 1–2 weeks

• Fully underwritten policies: Typically 3–6 weeks, depending on medical records and additional requirements

Responding quickly to carrier requests and completing exams promptly can speed up approval.

Why are carrier ratings important when choosing a life insurance or annuity company?

Financial strength ratings—from agencies like AM Best, Moody’s, and Standard & Poor’s—help you understand a company’s long-term stability and claims-paying ability.
They matter because:

• Life insurance and annuity contracts are long-term commitments.

• Strong ratings provide confidence that the carrier can pay claims or future annuity benefits.

• Choosing a well-rated carrier protects your long-term financial security and your family’s peace of mind.

Carrier ratings are a key factor in selecting reliable, stable insurance partners.

How does accident insurance work, and what does indemnity-style mean?

Accident insurance pays a lump-sum benefit directly to you when you experience a covered injury or accident. Indemnity-style plans pay you, not your doctor or hospital.

This allows you to use the funds for:

• Medical bills, deductibles, and copays

• Childcare, transportation, or household expenses

• Lost wages or other unexpected costs

Benefits are paid based on the type of injury or service—not the provider’s billed amount—and are paid regardless of other insurance you may have.

What is key employee insurance, and why is it important for a business?

Key employee insurance—also called key person insurance—protects a business if a crucial employee dies or becomes disabled. The employer pays the premiums, the business owns the policy, and the business is the beneficiary.

Key employees often:

• Generate significant revenue

• Maintain major client relationships

• Hold unique expertise

• Run essential operations

If something happens to that individual, the benefit helps the business:

• Offset financial losses

• Recruit and train a replacement

• Support ongoing operations

• Protect business loans or credit tied to that employee

This coverage provides long-term stability and keeps the business running smoothly during unexpected transitions.

How does the key employee insurance process work long term?

The long-term process typically includes:

1. Identifying key employees. These are individuals whose loss would significantly impact the business.

2. Employer applies for and pays for the policy. The business owns it and is the beneficiary.

3. Coverage continues as long as premiums are paid. Protection remains active year after year.

4. If the employee dies or becomes disabled, benefits go to the business. These funds help protect operations, revenue, and credit obligations.

5. Policies are reassessed periodically. As the business grows or roles evolve, coverage can be adjusted.

6. Policy transfer option: If the employee leaves the company, many permanent life insurance policies can be transferred to the employee. They then take over premium payments, and the policy becomes a long-term personal asset—often valuable for family protection or retirement planning.

Does my health insurance cover me when traveling overseas?

Most U.S.-based health insurance plans do not provide comprehensive coverage outside the United States. However, some plans may cover a medical emergency abroad, depending on the type of policy and your carrier. Routine care, doctor visits, and hospitalization are usually not covered.

For international travel, consider:

• Travel medical insurance or international health coverage, which can cover emergency medical treatment, hospitalization, and medical evacuation.

• Trip cancellation or interruption coverage, which can reimburse prepaid travel costs if a medical emergency prevents you from traveling.

• Telehealth options, which allow you to consult with an English-speaking doctor remotely while abroad for minor illnesses or medical advice—helpful for non-emergency situations.

Even a short trip overseas can expose you to costly medical bills. Planning ahead with supplemental coverage and telehealth access ensures you’re protected and have convenient care options while traveling.