Health & Life

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Why do I need Health Insurance?

The Pillar Corporation offers Health Insurance for your Business or Personal needs. Everyone knows what health insurance needs, but do you know the different types of coverage. There are so many different planes out there that many people are in need of some help. We are here for you. Let us time the time to explain some of the different options out there. The following are the different types of Healthcare in the United States:

Flexible Spending Account (FSA) – Pre-tax dollars are allowed to be used for eligible medical and dependent care expenses. Those that participate with this plan tend to contribute funds from their paycheck.

Health Maintenance Organization (HMO) – A program that is usually more affordable and provides the members with a comprehensive medical plan. There are both advantages and disadvantages to this plan. Speak with one of our representatives today.

Health Savings Account (HSA) – Over the last few years, this plan has become more popular in the United States. The member is allowed to contribute funds from a paycheck, which allows it to be tax-deductible, and when the funds are used for qualified medical expenses it allows the funds to be tax-free. These plans are typically higher deductible for members.

Health reimbursement Arrangement (HRA) – These accounts are created by employers for employees to reimburse a portion of their eligible family members out of pocket medical expenses.

Point-of-Service (POS) – This plan allows members to choose the medical services that are needed by the member on the plan and whether they will use a provider in or out of network.

Preferred Provider Organization (PPO) – This plan allows the members to receive services at a discounted cost by providing incentives for members to use providers that offer the PPO discount. The PPO plan also allows members to go out of network.

Let one of our consultants review the best plan for you!

Why do I need Life Insurance?

We are all given the gift of life. It is important to plan for the future. Allow The Pillar Corporation to help you plan accordingly. Life insurance can provide as a resource for your loved ones in the event something
happens to you, or it can provide additional benefits while you are still alive.

Below are some reasons why life insurance would be a good investment:

• Business owners often request life policies on themselves so they know that the business can continue after they are gone. In addition business owners will purchase or invest in life insurance plans for key persons, buy-sell agreements, and other business needs.

• By purchasing a life policy, beneficiaries will be able to collect the death benefit quickly if the option is added.

• Most of the life insurance policies are in place to help pay for any debt, funeral expenses and/or any other expenses needed to be closed.

• Individuals want to provide financial security for their family.

• With some purchasers, they are trying to protect wealth that they have accumulated during their life and want the opportunity to transfer this wealth to loved ones.

• Tax-free death benefits are available to those that receive the death benefit from a life insurance policy.

• Life Insurance can be used to build up cash value and be used for planning retirement income and/or secure your financial future. This includes your family’s standard of living.

• New or young parents often use life insurance to protect/invest in their child’s future. Certain polices allow you to withdraw or borrow against the cash value that has incurred on your policy. You can protect the child’s future by getting a life policy that will be available in case your child develops a disease or illness. In addition you can purchase a life policy to help plan for your child’s college education.