Top 3 Types Of Insurance Policies Every Hair Care Professional Should Have

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The hair & beauty industry is at an all-time high due to America’s current economic boom. The average American will find the money to get a haircut and a shave or a new cut and color to feel handsome or beautiful. Stylists and Barbers are cherished deeply by their clients. Sometimes those stylists and barbers wear several different hats at one time. Therapist, best friend, business partner, life coach, you name it, they have worn it. So, when it comes to their health and well-being they need to be taking care of since they mean so much to so many people. There are three types of Insurances that I truly think every hairstylists and barbers should consider. Health Insurance, Life Insurance, and Disability Insurance. Below is a breakdown of all three types of insurance, how they work, why you should have them, and the benefits of each type.

Health Insurance

What is Health Insurance?

  • Health Insurance is a type of coverage that pays for the medical and surgical expenses that you will incur if you were to get sick or injured.

How does it work?

  • You pay your deductible which is the dollar amount you will pay out of your own pocket each year before your insurance company begins to cover any medical costs. So, if your deductible is $2,100 you will pay 100 percent of the eligible health care cost until you reach that amount. Once you reach that amount you will then share the cost with your health care plan by paying coinsurance.

Why should you have Health Insurance?

  • It is to protect you and your family financially if any unexpected serious sickness or injury were to take place. Not having health insurance could result in receiving less medical care, less timely care, and a fiscal burden on them and their families.

What are the benefits to having Health Insurance?

  • Ease of mind.
  • Improved health.
  • Protects from financial losses.

Access to affordable care and information.

Life Insurance

What is Life Insurance?

  • Life Insurance is a contract between a consumer (insurance policy holder) and an Insurer (insurance company).

How does it work?

  • The consumer pays a premium payment to the insurance company. In exchange, the insurance company provides a lump-sum payment known as a death benefit to a beneficiary upon the insured person’s death.

Why should you have Life Insurance?

  • Life Insurance can pay for your funeral and burial cost. It also can take care of any probate, estate administration costs, debts and any medical expenses. You can also leave an inheritance to your loved ones.

What are the benefits of having Life Insurance?

  • Pay off any debt.
  • Replace the income of the deceased.
  • Cover children’s expenses.
  • Life insurance for children
  • Pay final expenses.
  • Buy a business partner’s shares.

Disability Insurance

What is Disability Insurance?

  • Disability Insurance also known as short term disability is a type of insurance that is set in place to replace some of a working person’s income when a disability prevents them from working.

How does it work?

  • The consumer pays a monthly premium to the insurance company. The insurance company provides benefits that replace part of the consumers lost income when they become unable to work due to illness or injury.

Why should you have Disability Insurance?

  • During the time that you are considered disabled and not getting a paycheck, the disability insurance will pay you a monthly amount.

What are the benefits of having Disability Insurance?

  • A continued monthly income when you’re not able to work.
  • To be able to continue to pay monthly bills.
  • Continue to take care of your family while you are not working.

Making sure that you are covered just in case is extremely important. At we have trusted agents that will make sure you and your family have the best affordable coverage possible.

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