Life and Health Insurance in El Paso, TX
Having adequate means of caring for yourself and your family is an essential investment. Even if you are in good health and live a responsible and safe lifestyle, some accidents or illnesses may be inevitable. In such situations, financial matters may be difficult to manage. Fortunately, purchasing and maintaining suitable health and life insurance can provide critical financial assistance to you and your family during difficult times.
What Are Health and Life Insurance?
Health and life insurance are two separate types of coverage. These policies may be made available to you through your employer’s benefits package and can also be purchased from private insurers.
Health insurance provides financial aid to ensure you can access the medical services needed to maintain your health and wellness. Although policy details may vary, your plan may include coverage for the following:
- Preventive and wellness services
- Chronic disease management
- Ambulatory services
- Prescription drugs
- Emergency services
- Pregnancy, maternity and newborn care
- Mental health and substance use disorder services, including behavioral health treatment
- Rehabilitative and habilitative services and devices
- Laboratory services
- Pediatric services, including oral and vision care
Unfortunately, even with good health insurance, some injuries and illnesses may prove fatal. In such situations, your family may encounter various sources of financial hardship. Fortunately, an effective life insurance policy can help your loved ones bear these burdens by providing a payout that can be used to cover the following expenses:
- Outstanding debts
- Administrative costs
- Estate taxes
- Income replacement
How Are Health and Life Insurance Different?
While health and life insurance may both provide critical financial assistance in response to incidents affecting your health, they are typically separate policies intended for different purposes. While health insurance can help you maintain your health and access various medical services, it generally does not offer financial assistance for post-mortem expenses. With this in mind, purchasing life insurance is the best way to secure such aid.
Why Are Health and Life Insurance Important?
Without adequate health insurance, you may be incapable of accessing the medical services needed to recover from injuries and illnesses. Furthermore, your health coverage may provide access to essential preventive care and medications. In the absence of a health plan, even a single procedure or hospital visit could incur significant costs that you would have to pay out of pocket.
Life insurance can provide crucial financial security for your family members when you pass away. If you lack an adequate life insurance policy, your loved ones may not have the ability to manage the resulting financial hardship. For example, without your income, your spouse and children may no longer be able to maintain their current lifestyle and could even lose their home.
Protect Yourself With the Right Coverage
The dedicated staff at Crossland Coverage is here to help. Our agents have the knowledge and experience to help you understand health and life insurance and acquire optimal policies. Contact us today to begin.