Freelancers Union Insurance
As a freelancer, the best option for health insurance is through Freelancers Union. Remember, if you’re a freelancer incorporated as an LLC, health insurance is 100% tax deductible.
Health Insurance Rates for 2010
For 2010, here are your options in terms of health insurance plans and costs. Health insurance plans will vary depending on the state in which you live. For those of you who live in New York, view this easy-to-read comparison chart for different health insurance plans offered through Freelancers Insurance Company (FIC). I have the PPO 2 plan and have been very happy with it. I pay $800.00 per month.
| Plan Type | Individual | Individual + Kid | Individual + Spouse | Individual + Family | Deductible |
|---|---|---|---|---|---|
| PPO 1 | $497.00 | $894.00 | $1,043.00 | $1,391.00 | $1,500.00 |
| PPO 2 | $381.00 | $685.00 | $800.00 | $1,066.00 | $2,500.00 |
| PPO 3 | $285.00 | $513.00 | $599.00 | $798.00 | $3,500.00 |
| HD 5,000 | $324.00 | $583.00 | $680.00 | $907.00 | $5,000.00 |
| HD 10,000 | $196.00 | $354.00 | $413.00 | $550.00 | $10,000.00 |
Life Insurance Rates for 2010
For 2010, here are your options in terms of life insurance plans and costs. Freelancers Union offers term life insurance through Guardian, a reputable life insurance company. If you’re young and don’t have dependents or much liability, then you can get lower coverage to make sure all of your outstanding expenses are taken care of once you die. If you have a large mortgage, children, and various liabilities, then you should get the $1,000,000.00 life insurance plan so that you’re family can live comfortably once you die. I pay $54.00 per month.
| Life Insurance Coverage | Monthly Cost for Non-Smoker | Monthly Cost for Smoker |
|---|---|---|
| $50,000.00 | $6.50 | $8.00 |
| $100,000.00 | $9.00 | $12.00 |
| $200,000.00 | $14.00 | $20.00 |
| $250,000.00 | $16.50 | $24.00 |
| $300,000.00 | $19.00 | $28.00 |
| $400,000.00 | $24.00 | $36.00 |
| $500,000.00 | $29.00 | $44.00 |
| $750,000.00 | $41.50 | $64.00 |
| $1,000,000.00 | $54.00 | $84.00 |
Long-Term Disability Rates for 2010
For 2010, here are your options in terms of long-term disability (LTD) insurance. Freelancers Union offers life insurance through Guardian, a reputable life insurance company. You can receive benefits for 2 years while unable to work and for more than 2 years if Activities Daily Living (ADL) disabled. Benefits are available until age 65 while you remain disabled. You do not pay the monthly rate while you are receiving benefits. Long-term disability insurance is important if you ever become ill, are in an accident, or become incapacitated in some way that makes it impossible for you to work for a period of time. LTD insurance is fairly inexpensive and definitely something that’s worth getting. I pay $18.77 per month.
| LTD Total Coverage | LTD Monthly Coverage (2 Yrs Max) | Monthly Cost | Annual Cost |
|---|---|---|---|
| $12,000.00 | $500.00 | $6.41 | TBD |
| $18,000.00 | $750.00 | $7.11 | TBD |
| $24,000.00 | $1,000.00 | $7.83 | TBD |
| $30,000.00 | $1,250.00 | $8.92 | TBD |
| $36,000.00 | $1,500.00 | $10.22 | TBD |
| $48,000.00 | $2,000.00 | $13.36 | TBD |
| $60,000.00 | $2,500.00 | $16.32 | TBD |
| $72,000.00 | $3,000.00 | $18.77 | TBD |
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Munawar Ahmed | Freelancers Union Insurance | Insurance Related Pages / Jan 22, 2010 at 10:49 PM /