Insurance services

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Property and casualty insurance (P&C) isn't a single type of insurance.  It's an umbrella term that describes many types of insurance policies, including auto, homeowners, renters and condo insurance.  As the name suggests, P&C insurance contains two parts -- property coverage and casualty coverage: 

* Property coverage includes things like your house, car, clothing, furniture, electronics and valuables.  If your personal property is damaged or destroyed by a covered peril, your personal property coverage will pay to repair or replace them. 

* Casualty insurance covers your liability.  For instance, if a delivery driver slips and falls on your icy driveway, the liability portion of your home insurance will pay for your legal fees if the driver takes you to court.  If you cause a car accident, your car insurance liability coverage helps you pay for the other driver's expenses.  

Although property coverage and casualty coverage are technically different types of insurance, they aren't sold separately because most common insurance policies bundle them together.  Even the most basic homeowners, auto and renters insurance policies include both property and casualty coverages.   

Health insurance -- also referred to as medical insurance or healthcare coverage -- refers to insurance that covers a portion of the cost of a policyholder's medical costs.  How much the insurance covers depends on the details of the policy itself, with specific rules and regulations that apply to some plans.  There are several different types of health insurance in the U.S., including public coverage (Medicare, governed by the federal government, Medicaid and CHIP, governed by both the federal government and state governments, Indian Health Services, VA coverage) and private coverage.  Private healthcare coverage can be provided by an employer or purchased in the individual/family market.  Members of the armed services and their families are covered under Tricare, and people employed by the federal government are covered under the FEHB (Federal Employees Health Benefits) Program.  

 Before we get started let's be clear, not every life insurance policy is the same! Before you purchase a policy, make sure you understand what is or isn't covered, what terms apply to your specific policy, and that the insurer fully answers any questions you may have.  

There are two basic types of life insurance: term and permanent life insurance. A term life insurance policy provides coverage for a specific period, typically between 10 and 30 years. It is sometimes called “pure life insurance” because unlike the permanent policy or whole life insurance, there’s no cash value component to the policy – once the term is over, there’s nothing left.

Permanent life insurance provides coverage that lasts your entire life. Unlike term, it’s not a “pure life insurance” product because it includes a cash value component that helps make coverage last while the insured is alive and premiums are paid while providing other financial benefits. A portion of your premium dollars grows tax-deferred over time – but the entire death benefit is immediately payable from the first day you have the policy. The cash value may take some years to build up to a significant amount.

There are two main types of permanent insurance: whole and universal life. Whole life insurance – the premium remains the same for life, the death benefit is guaranteed, and the cash value grows at a guaranteed rate. Universal life insurance can be less expensive, but the premiums, death benefits, and cash value growth rate can vary, making the policy more complex.

When deciding what life insurance is right for you, again, be sure to read and understand all the terms and conditions and that you're working with a trusted insurance agent. Don't be afraid to shop around for coverage so you can get the right fit for your needs. 

Commercial business insurance is coverage for businesses and corporations, generally designed to cover the business its employees and ownership.  Since there are so many types of businesses with different needs and situations, commercial insurance can come in many shapes, sizes and colors.  Commercial insurance helps businesses stay protected against risks that could impact their success.  Some types of business insurance protect the organization's reputation and well-being, while others safeguard the financial aspects. 

 Medicare is the federal government health insurance program for Americans age 65 and older and younger people living with certain illnesses or disabilities. Medicare has four parts — Part A, Part B, Part C and Part D — that offer specific coverage and vary in cost:

• Part A covers hospital care and related services.
• Part B covers doctor appointments and outpatient medical care.
• Part C (Medicare Advantage) covers the same benefits of Parts A and B but is offered by private insurers.
• Part D covers prescription drugs.

Medicare Part A covers inpatient care in a hospital or skilled nursing facility, although not custodial or long-term care. Part A also helps pay for hospice care and some home health care.

• Most people don’t pay a premium if they or their spouse paid Medicare taxes for at least 10 years[5].
• There’s an annual deductible of $1,676 in 2025.
• You’ll pay coinsurance for inpatient hospital care: $0 for the first 60 days (once you've paid your Part A deductible), $419 per day in 2025 for the 61st through 90th day of hospitalization, and more after that.
• If you don’t get Part A for free, you’ll pay up to $518 per month in 2025.

Medicare Part B covers doctor visits and other medically necessary services and supplies. That includes preventive services or health care to prevent illness, as well as ambulance services, durable medical equipment, mental health coverage and a few types of outpatient prescription drugs.

• The premium is at least $185 per month in 2025.
• There's an annual deductible of $257 in 2025.
• You'll pay 20% coinsurance for Medicare-approved services.
• There could be a permanent penalty if you sign up late for Part B 

Medicare Advantage, also known as Medicare Part C, is a health plan offered by private insurance companies that provides the benefits of Part A and Part B and usually Part D (prescription drug coverage), as well as some additional benefits. 

• It includes all the benefits of Part A and Part B (but you still have to pay your Part B premium).
• It usually includes Part D, as well as extra benefits like some dental and vision coverage.
• Monthly premiums vary, but could be $0.
• Your out-of-pocket limit could be as high as $9,350 in 2025. 
• Medicare Advantage plans are typically HMOs or PPOs. 
• They provide coverage only in certain local areas, from certain networks of doctors and hospitals.
• They generally require preauthorization and referrals.  

Medicare Part D helps cover the cost of prescription drugs, both generic and brand name. Plans are offered by private insurers and require a monthly premium.

• The average total monthly premium is $46.50 in 2025.
• As with Part B, people with higher incomes pay more for Part D.  
• There's typically a penalty if you don't sign up when you're first eligible. 
• The Part D late penalty is 1% of the national base beneficiary premium, which is $36.78 in 2025, multiplied by the number of months you're late enrolling after you go without creditable drug coverage for 63 days[10]. 

Medigap, or Medicare Supplement Insurance, is an additional health insurance policy you can buy from a private insurer to help pay your share of the costs not covered by Medicare Part A and Part B[11]. This includes deductibles, coinsurance and some health care if you travel outside the United States.

• There are 10 types of Medigap plans with letter names available in most states.
• You must have Medicare Part A and Part B to buy a Medigap policy.
• You can't have Medicare Advantage and Medigap at the same time.