Frequently Asked Questions
Is there a fee for P2 services?
No, we do not charge a fee to the client for our services.
How long has P2 been offering insurance products?
P2 has over 20 years of combined industry experience.
What is the difference between a Medicare Supplement Policy and a Medicare Advantage Plan?
A Medicare Supplement policy, sometimes called “Medigap,” is a private insurance policy that can help pay for some of the health care costs that Original Medicare doesn’t cover. Medicare Advantage Plans are network-based plans offered by private insurance companies that have a contract with Medicare and provide additional benefits beyond Original Medicare like vision, hearing and dental benefits.
How do you qualify for a Medicare Advantage Plan?
You must have Original Medicare Part A and Part B, live in the plan service area and not have End-stage renal disease requiring dialysis.
Does Medicare pay for long-term care services?
No, Medicare covers medical expenses related to illness or rehabilitation. Skilled Nursing is covered by Medicare for up to 100 days if you qualify for a skilled medical need. Long-term care services involve someone needing assistance with activities of daily living such as bathing, dressing, grooming and eating.
How do you pay for long-term care services?
People rely on a variety of payment sources which include personal funds, private financing options like long-term care insurance or government programs like Medicaid.
At what age should I consider long-term care insurance?
There are no age requirements to purchase long-term care insurance. However, because of health changes that take place most often after people reach their 50s, we advocate that long-term care planning start in your 50s.
Why do I need permanent life insurance?
The need for life insurance persists long after the kids have graduated college or the house has been paid off. As long as premiums are paid, permanent life insurance provides a lifetime of protection. Also, a permanent life insurance policy will accumulate cash value on a tax-deferred basis and the death benefit is tax free to the beneficiary. Once approved, your policy cannot be cancelled by the insurer and the insurance will remain in-force regardless of your health status.
What is a final expense insurance policy?
A final expense insurance policy is used to pay for funeral services and a burial when the named insured dies. Although the policy is called “final expense insurance,” it is no different from a traditional life insurance policy with a small monetary value.
How does an immediate annuity vary from a lifetime income annuity?
When you buy an immediate annuity, you choose the number of years that your guaranteed income stream will last. A lifetime income annuity provides guaranteed income for as long as you are alive.
How can a lifetime income annuity provide financial peace of mind?
It’s a way to diversify your portfolio and make sure that your basic retirement expenses will be covered. For most retirees, the overriding concern is for a secure income stream for the future. The annuity pays principle and interest for your entire life. In this way, the lifetime income annuity operates much like a pension plan from a former employer.