Consider FollowMe Health

• If you have recently lost or will soon lose your group health coverage.
• If you appreciate the coverage your group health plan provided, and would like to purchase an individual
       health insurance plan without completing a medical questionnaire; and,
• If you will apply for FollowMe Health coverage within 60 days of your group health coverage end date.

We have done our homework on this one. For a look at other similar plans and how they stack up against each other see our Guaranteed Issue Comparison chart. Each of these plans address the same three points mentioned above. On balance, we feel the FollowMe Health plan provides a better balance of coverage for one’s premium dollar. Keep in mind, if you are hoping to re-enter the workplace with another employer, then this type of coverage is only temporary until your group insurance kicks in again. The premiums are also a tax-deductible expense. When you consider this fact along with the claims you will be making throughout the year, your actual net cost for this type of coverage ends up being far less than what you see on the comparison chart. For example, if you were a 40 year old in a 35% tax bracket with a family of 4 and these were your expenses for one year:

Your actual annual net cost for this type of coverage would be:

Gross Premium:      $5,533.20 ($461.10 X 12 months)
Net Premium:           $3,596.58 ($5,533.20 X 35% tax bracket = $1,936.62 deduction)
Claims:                       $4,246.48
Net Gain:                    $649.90 ($4,246.48 in Claims minus $3,596.58 in Net Premium)

So, what have your expenses been like over the past few years?  What risk could you be facing by not having this type of insurance?  If you’ve recently lost your job, remember you have only 60 days from that event to make a decision.

Protect yourself today by completing a FollowMe application and sending it directly to Manulife at the address shown on the form.  In the meantime, should you have any questions, please give us a call.

Gary White Insurance

Tel: (800) 433-5307 Bus. Cell: (416) 768-4279
Email: info@garywhiteinsurance.com