Leliaert Insurance Agency

Mishawaka Granger South Bend Elkhart Insurance Agent | Providing Auto, Home, Health, Life and Business Insurance

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Can I get life insurance without a medical exam?

Most insurance companies require applicants of conventional life insurance policies to fill out a health questionnaire and undergo a medical examination. However, if you are in poor health or simply don’t want to go through the hassle of a medical exam, you can still purchase life insurance. 

There are a few life insurance policies that do not require a medical exam. This can be a great option for someone who is in poor health and may not qualify for life insurance through traditional means. There are three main types of life insurance policies that do not require a medical exam: final expense insurance, guaranteed issue life policy and convertible term life policy. 

Each of these policies has its own perks and drawbacks, so it’s important to do your research before deciding which one is right for you.

CONVERTIBLE TERM LIFE INSURANCE

Convertible term life insurance is a type of life insurance that can be converted into a whole or universal insurance policy without an additional health screen, before the term is finished. 

This may be an appropriate policy for someone who is starting out with life insurance and wants the flexibility to convert their policy in the future, especially in the event of poor health. 

When convertible life insurance policyholders convert to a permanent policy, the benefit will remain the same and the premium usually increases. Prior to the conversion, convertible term life insurance policies typically have higher premiums than other types of term life insurance, as there is a built-in cost for the potential change.

FINAL EXPENSE INSURANCE

Final expense insurance is a type of whole life insurance policy that is specifically designed to cover end-of-life expenses, such as funeral costs and outstanding medical bills, though beneficiaries can choose to spend the money as they please. One of the benefits of final expense insurance is that it includes a cash value growth component, which means that the policy will build up cash value over time that can be used to cover other expenses.

Final expense insurance is also referred to as funeral insurance, burial insurance, simplified issue whole life insurance or modified whole life insurance, with a death benefit averaging anywhere between $2,000 and $50,000. 

GUARANTEED ISSUE LIFE INSURANCE

Guaranteed issue life insurance is a type of coverage that is guaranteed to be approved, regardless of your health status. This can be a good option for someone who has been denied life insurance in the past due to their health.

However, guaranteed issue life insurance policies typically have much higher premiums than other types of life insurance, so it’s important to weigh the costs and benefits before deciding if this is the right fit for you. Death benefits typically cap at $25,000 for a guaranteed life insurance policy. 

Guaranteed issue life insurance does not require a medical exam, health questionnaire or allow insurance companies to review medical records.

Contact a Leliaert Insurance agent today to learn more about life insurance policy options.

The Basics of Homeowners’ Insurance

Cornwall, Ct, USA An insurance fire inspector inspects the exterior of a wooden house damaged by fire.

For homeowners or prospective first-time buyers, it’s essential to understand homeowners’ insurance for asset protection and peace of mind. 

This type of insurance safeguards your belongings, home’s interior and exterior in the event of a fire, smoke damage, theft, vandalism or other natural disaster, such as lightning, wind or hail. Homeowners’ insurance can also cover liability; living expenses, if you are displaced due to a covered incident; as well as medical payments in the event someone is injured in your home, among other aspects of protection. 

WHAT TO EXPECT

The first step toward obtaining homeowners’ insurance is to gather quotes from different providers; this will give you a general idea of the cost and what is covered. Be sure to check with your auto insurance provider, as they are usually able to bundle packages together for better rates. Remember, homeowners should always aim for the policy with the best coverage at the lowest premiums. 

When getting quotes, be prepared to share information about your credit history and home, such as its location, age and condition, security and safety features, square footage, listing price and more. 

Many homeowners’ policies come with an estimation of the total loss coverage for a property, based on public data and the information you supply. However, if homeowners disagree with this assessment or would like more coverage, they can request it. Newer homes will usually require a higher premium as they would be more costly to rebuild if destroyed. 

Furthermore, you only need homeowner’s insurance to replace the house, not the land itself. The cost of land accounts for a large percentage of property value; don’t be surprised if a $400,000 property requires $150,000 worth of coverage. Your insurer should be able to guide you through the probable replacement cost. 

WHAT’S NOT COVERED

Homeowners’ insurance doesn’t cover everything, however, such as flooding. If a property is located in a flood-prone area, homeowners will need to purchase flood insurance, a special policy that is federally backed by the National Flood Insurance Program and available for both homeowners and businesses. Similar to other types of insurance, the higher the deductible, the lower your premium. 

According to the Indiana Department of Insurance, “some companies offer a Hydrostatic Pressure Endorsement to insure your property for the increased exertion of water on the foundation of your structure, a condition frequently accompanying the rising waters of a flood, however, most of these endorsements only cover collapse of the structure due to hydrostatic pressure and do not insure for damage, other than building collapse, due to hydrostatic pressure accompanying the flood.”

Earthquakes, landslides and sinkholes aren’t covered in most cases, though such policies do exist. 

In the case of dog bites, a homeowners’ policy could cover the incident to the limits of your liability coverage, which varies. If the cost exceeds the coverage limit, you would be responsible for the difference. Additionally, some insurers may not offer coverage if the dog’s breed is historically aggressive.

Items such as jewelry, art, musical gear and collectibles may require additional protection, such as a personal property floater policy. Whether or not they may be covered by flood insurance depends on the policy. 

Other scenarios not usually covered by homeowners’ insurance include damage from lack of maintenance — think pests and mold. If the cause of mold is not from flooding, you might be eligible to file a claim to cover the damage. Your homeowner’s insurance policy includes coverage for some water damage. It all depends on the specific cause by which mold is growing and if it is covered under your policy as a covered peril. To learn more about how mold may be covered by homeowners’ insurance, read our past blog post.

CHECK FOR ELIGIBILITY 

Military service members and their families may also be eligible for discounts on homeowners’ insurance. Qualifications vary by company, but some offer a percentage off of premiums or special rates for active-duty personnel and veterans. 

Some companies also offer discounts for membership in certain organizations, alumni statuses and features that make a home safer, such as an alarm system, or being located in a gated community. Check with your insurer to see if any of these homeowners’ insurance discounts apply to you. 

Leliaert staff members understand the complexities of homeowners’ insurance and can help guide you toward the appropriate policy and peace of mind. Contact us today with your homeowners’ insurance needs.

Insurance companies, group health plans cover at-home COVID-19 tests

In an effort to expand accessibility to COVID-19 testing, private health insurance companies and group health plans are now required to cover over-the-counter, at-home COVID-19 tests. 


FDA-approved diagnostic test purchases on or after Jan. 15 will be covered in the commercial market without the need for a health care provider’s order or clinical assessment, and without any cost-sharing requirements such as deductibles, co-payments or coinsurance, prior authorization, or other medical management requirements, according to a U.S. Department of Health and Human Services release. 

HOW MANY?

Insurance companies and health plans are required to cover eight free tests per covered individual per month. 

There is no limit on the number of tests, including at-home tests, that are covered if ordered or administered by a health care provider following an individualized clinical assessment, including for those who may need them due to underlying medical conditions.

OUT-OF-POCKET COSTS

Some insurers and group health plans have created programs to allow people to get over-the-counter tests directly through preferred pharmacies, retailers or other sources with no out-of-pocket costs. Insurers and plans cover the costs upfront, eliminating the need for consumers to submit a claim for reimbursement. 

REIMBURSEMENT

Insurers and group health plans without a preferred network of pharmacies or retailers to obtain tests without costs are required to fully reimburse over-the-counter purchases.

Insurers and group health plans with a preferred network are required to reimburse purchases from outside preferred networks, at a rate up to $12 per test. For instance, if a person purchased a test online from Amazon, their insurer is still required to reimburse up to $12 per test. 

Consumers should keep their receipts for a claim submission and consult their insurance provider for further steps. 

WHAT IF I DON’T HAVE INSURANCE?

Every household is now eligible for four free COVID-19 rapid tests, available for ordering through covidtests.gov or by calling 1-800-232-0233 or TTY 1-888-720-7489. Tests will typically ship within 7-12 days through the USPS.

For the uninsured, there are also now more than 20,000 free testing sites throughout the country, with a list available here.  

Do business owners need to buy workers’ compensation insurance? 

Workers’ compensation is a type of business insurance paid by an employer that provides benefits, including wage replacement, medical treatment and disability benefits, to employees who suffer from work-related injuries or illnesses. It also provides benefits to dependents in the event of an employee’s death. 

Workers’ compensation insurance is typically required by law for most employers in nearly all states. Texas, unlike other states, does not require an employer to have workers’ compensation coverage. 

HOW HOOSIERS ARE AFFECTED 

In Indiana, all employees of a business must be covered under workers’ compensation insurance. According to state law, sole proprietors, partners, real estate agents and LLC members are excluded from coverage but can choose to be included; corporate officers, such as CEOs and CFOs, are included but can choose to be exempt. 

Additionally, Hoosier employers must purchase insurance from a commercial provider, though approved businesses may self-insure. 

EXCLUSIVE REMEDY


Workers in Indiana are not required to prove their employer was at fault to receive benefits, per the no-fault system created by the Indiana Workers’ Compensation Act, though available benefits only include medical expenses and wage loss.

In some states, employees may be able to pursue a personal injury claim instead or workers’ compensation, which allows claimants to receive benefits for emotional damages and more, with payouts often greater than workers’ compensation benefits.

Generally, personal injury cases in Indiana require the claimant prove the defendant responsible. However, workers’ compensation is considered the “exclusive remedy” for injured workers under Indiana law. Because of this, an injured employee is usually limited to filing a workers’ compensation claim even if the employer is at fault, and injured employees also cannot file a claim against an at-fault co-worker, though there are exceptions. 

CASE SCENARIOS

Types of injuries/scenarios which often lead to workers’ compensation claims include:

  • Overexertion — Overworking the body is one of the most common reasons for employees filing a workers’ compensation claim. Activities such as bending, twisting, lifting, pulling, pushing and squatting repeatedly or under difficult conditions can result in injury.
  • Exposure to toxic chemicals/environments — Workers in industrial or medical environments may encounter harmful materials, such as caustic liquids, noxious gases or dangerous chemicals including pesticides and asbestos.
  • Machinery accidents —User error or mechanical malfunction can cause machinery to injure workers.
  • Slips, trips and falls —Wet floors, icy walkways, broken or missing handrails, unsafe stairs, debris and more can cause workers to slip or trip, leading to a fall. These incidents often occur inside grocery stores and restaurants, where liquids are more likely to be spilled, and around the exterior of businesses.
  • Struck by object —Falling, swinging, rolling, thrown or dropped objects can strike employees, such as construction workers, warehouse attendants and stockers.
  • Electrocution  — Electrocution can cause burns, internal damage, cardiac arrest and other injuries.
  • Fires/explosions — Fires and explosions can result in burns, respiratory issues, heart complications, head injuries and hearing loss for exposed workers. 
  • Workplace violence — Claims can be filed in cases of violence among co-workers. Corrections officers, social workers and others dealing with incorrigible people may also endure violence in the workplace.  

Speak with a Leliaert Insurance Agency staff member today to help you determine the best fit for your workers’ compensation needs.

The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. 

Should a landlord get an umbrella policy for their rental property?

The role of landlord comes with understood risks — unexpected maintenance, delinquent tenants, payment problems, damage to units and more.

Landlords seeking an extra layer of protection against potential litigation should consider an umbrella policy for their rental properties.

An umbrella policy includes additional liability coverage above the policy limits of the personal liability protection offered in homeowners, auto, motorcycle and watercraft policies. Umbrella insurance policies also cover claims usually not covered from standard insurance policies, such as dog bites, false arrest, slander, libel, malicious prosecution or mental anguish lawsuits.

Possible scenarios where umbrella insurance may benefit a landlord include:

  • A person is injured on a landlord’s vacant property
  • A person is injured in a communal area such as a lobby or stairwell
  • A former resident enters a property because the landlord didn’t change the locks
  • A person is injured by a landlord’s property in the unit, such as a loose handrail or carbon monoxide poisoning from appliances
  • A tenant sues for wrongful entry

It’s recommended landlords also require tenants to hold renter’s insurance, ensuring tenants are protected against liability claims and costs aren’t passed to the landlord. Some insurance companies will offer an umbrella policy as an add-on to landlord insurance, which typically covers property damage and liability up to a determined limit; an umbrella policy would raise that limit.

What is not covered under an umbrella policy?

Most personal umbrella policies will not cover liability sustained in business or professional settings; that requires business liability insurance. If a landlord operates a rental unit under a business entity, a personable umbrella policy may not be appropriate.

Speak with a Leliaert Insurance Agency staff member today to help you determine the best fit for your coverage needs.

What is gap insurance and when do I need it?

Of personal assets with the most rapid depreciation rates, cars, trucks and other vehicles rank among the highest.

Auto industry experts estimate most vehicles depreciate in value by an average of 20% in the first year of ownership. According to a recent study by iSeeCars, the average depreciation of a vehicle over five years is 40.1%.

Standard auto insurance policies will cover the current market value of vehicles at the time of a claim. However, there may be instances where a purchaser puts down a small down payment during initial financing, and in the early years of ownership, the outstanding balance of the loan exceeds the value of the vehicle at the time of a claim.

Gap insurance (Guaranteed Asset Protection insurance) is an optional add-on for standard auto liability policies, covering the difference between the market value of the vehicle and the remaining balance of the loan in the event a vehicle is totaled. The Insurance Information Institute estimates gap insurance, with collision and comprehensive coverage, adds about $20 to a policyholder’s annual premium, offering peace of mind for a nominal fee.

Purchasers of new vehicles should consider gap insurance if they have:

  • Financed for 60 months or longer
  • Applied less than a 20% down payment
  • Leased the vehicle
  • Purchased a vehicle that rapidly depreciates
  • Rolled over negative equity from an old vehicle loan, adding to the total balance of the new loan

Speak with a Leliaert Insurance Agency staff member today to help you determine the best fit for your coverage needs.

What is product liability insurance for small businesses?

Costly litigation can sink a small business.

For manufacturers or sellers of merchandise, product liability insurance is an essential safeguard to prevent financial ruin. Product liability coverage protects against claims that a product manufactured or sold caused bodily injury or property damage.

Monthly insurance premiums amount to a fraction of what some businesses pay under the weight of a legal loss. In the event of a claim, product liability insurance covers the customer’s medical costs to treat an injury, legal fees and the price tag of defense as well as settlements or judgements against a business.

Bases for claims

Product liability claims can be based on negligence; breach of warranty of fitness, when a consumer relies on a company to fulfill a specific request in a product and the company fails; or strict liability, in which intent doesn’t matter — if it’s proven defective, a producer or distributor is liable.

Defects that create liability for manufacturers or suppliers:

• design defects
• manufacturing defects (during production or construction of the product)
• defects in marketing (failure to warn consumers of potential product dangers)

Historic case

On the macro level, recall the 2002 case of Bullock v. Phillip Morris, in which 64-year-old Betty Bullock of Newport Beach, California, sued the tobacco behemoth for negligence, strict product liability and fraud — and made history.

At the time of the jury trial, Bullock had inoperable lung cancer, the result of puffing Phillip Morris products since she was 17. Bullock asserted cigarettes caused her sickness and the tobacco company failed to warn her of health risks related to smoking.

A jury awarded Bullock $850,000 in compensatory damages and $28 billion in punitive damages, the largest award to a single plaintiff in history. Naturally, the decision was appealed by the company and the award was reduced to $28 million, a tenth of one percent of the initial figure. The appeal proceedings dragged on after Bullock died in 2003; her daughter was eventually paid $13.8 million in the suit.

Though a high-profile case, base ingredients of Bullock vs. Phillip Morris can be found throughout the business world. Consider product liability insurance when shielding your company from potential litigation.

Speak with a Leliaert Insurance Agency staff member today to help you determine the best fit for your coverage needs.

What are the two components of a universal policy?

Universal life insurance is a type of permanent life insurance that does not expire, as long as premiums are paid. Universal life insurance has two components: cost of insurance and cash value.

Cost of insurance refers to minimum payment required to keep the policy active. Multiple variables can impact the cost of insurance, including policyholder age, insurability and risk factors. Normally, universal policies have flexible premium options, requiring either a lump sum or scheduled payments.

Each time a universal life insurance premium is paid, part of the money goes toward the cost of insurance and operational fees while the remaining funds become the interest-earning cash value, which can be withdrawn or borrowed against. A policy’s surrender value is the amount of money received should a policyholder attempt to access the cash value of a policy — essentially it is the cash value minus early termination fees.

Cash value growth for universal life insurance depends on market interest rates and the performance of the insurer. Policyholders can choose how much money is allocated toward cost of insurance and cash value as long the amounts fall between the minimum and maximum allowed. Money withdrawn or outstanding loans from the cash value will be deducted from the tax-free life insurance payout, also known as a death benefit.

A universal life insurance policy’s cash value is separate from the death benefit; beneficiaries usually will not receive the cash value unless an insurer specifically allows for it; remaining cash value will often be directed to the insurer.

Universal policies also allow for cash value to be used to pay premiums, though such a strategy is typically short term, especially if interest rates are low and cash value is limited. Additionally, universal policies can include an accelerated death benefit rider, a provision that allows policyholders to receive a portion of death benefits while still living, in the event they’re diagnosed with a terminal illness.

To learn more about universal life insurance, contact a Leliaert Insurance Agency staff member today at 574-674-0015.

Why do I need indemnity insurance?

Indemnity insurance is vital for any policyholder seeking protection against potential third-party claims.

In exchange for monthly or annual premiums, indemnity insurance safeguards policyholders from claims of possible negligence, a failure or omission in service leading to a client’s monetary loss or legal affair, as well as bodily injury and/or property damage covered by the policy.

Indemnity insurance can also cover losses stemming from a perceived breach of privacy or confidentiality, and some industry associations may require it. For example, faulty plans drafted by an engineer, incorrect legal counsel or a safety specialist overlooking hazardous work conditions can all result in financial loss or bodily injury to a third party (with general liability covering slips, trips and falls).

In the form of auto insurance, indemnity insurance is required in most states and helps cover out-of-pocket expenses due to damages. If you crash while driving a vehicle and a passenger is paralyzed, without a proper policy or high enough coverage limit, you may be on the hook for substantial payouts. With the rising costs of litigation and health care, evaluating coverage limits is a sound decision for policyholders.

Directors and officers coverage is another type of indemnity insurance, protecting personal assets of directors or chairpersons operating on behalf of an organization such as a social club or nonprofit.

Professions benefiting from indemnity insurance include:

• attorneys

• doctors

• teachers

• therapists/counselors

• insurance agents

• contractors

• brokers

• accountants

• real estate agents

Additionally, when entrenched in a legal dispute, professionals may opt to settle with a claimant rather than pursue costly litigation. Choosing this route can lead to long-term, negative impacts, as a settlement could be perceived as an admission of guilt.

Indemnity insurance allows policyholders to preserve their professional reputation by covering court costs, representation fees, and, in the event of an unfavorable judgement, any awarded damages.

To learn more about indemnity insurance, contact a Leliaert Insurance Agency staff member today at 574-674-0015.

What is Medical Payments Coverage for Auto Insurance?

When choosing the best add-on options for auto insurance, consider medical payments coverage, or MedPay, to ensure you, your family and other passengers are protected in the event of an automobile crash, regardless of who is at fault.

What does MedPay coverage include?

  • EMT and ambulance fees
  • health insurance deductibles and copays
  • doctor or hospital visits
  • surgery, x-rays or protheses
  • nursing services
  • chiropractic care
  • therapeutic services
  • injuries sustained by a vehicle as a pedestrian, cyclist or public transit user
  • funeral expenses

Why MedPay?

MedPay is one of the most overlooked aspects of an auto insurance policy — drivers are often mindful of their vehicles first, with the potential for personal health issues from a crash taking a back seat.

If you or your passengers don’t have health insurance, MedPay is essential coverage.

According to debt.org, basic hospital costs averaged $2,607 per day in 2020, with overnight stays sending costs soaring to an average of $11,700.

It’s common to see hospital bills from crash-related injuries in excess of $25,000, and depending on a policyholder’s location, ambulance services alone can cost $1,000 to $3,000. 

It can also take months of litigation for a decision to be reached following a crash, stalling payouts as bills pile. With MedPay, payouts occur immediately for policyholders.

MedPay helps those with health insurance by covering deductibles and copays. For instance, your health insurance provider may pay the partial cost of an emergency room visit, leaving you to cover a $3,000 deductible. If you’ve selected a coverage limit of $5,000, your MedPay insurance could cover the deductible and ease the copay burden.

MedPay can even cover policyholders injured as passengers in another vehicle.

What’s the difference between PIP and medical payments coverage?

Similar to medical payments coverage, personal injury protection also assists in paying the medical expenses of you and your passengers, regardless of who is at fault.

PIP covers collateral expenses related to a crash, such as lost wages, child care and rehabilitative care, in the event you’re unable perform essential duties. MedPay does not cover such services.

PIP is available in no-fault states; MedPay is available in states that aren’t no-fault. Depending on state law, PIP is sometimes required; MedPay is always optional.

Speak with a Leliaert Insurance Agency staff member today to help you determine the best fit for your coverage needs.

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Leliaert Insurance Agency
410 Lincolnway W
Osceola, Indiana 46561

Phone: (574)-674-0015
Fax: (574)-674-9582
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