Why Joseph Insurance Was Established
Frequently Asked Questions
When Does One Enroll Into Medicare?
Medicare enrollment depends on which situation a person is in — but the easiest rule:
Initial Enrollment Period (IEP)
Most people enroll at age 65.
Your enrollment window is a 7-month window:
Timeline
Before 65 3 months before birthday month
Birthday month when you turn 65
After 65 3 months after birthday month
During IEP you can enroll into:
- Medicare Part A
- Medicare Part B
- Medicare Part D
- Medicare Advantage (MAPD)
- Medigap (if desired — best guaranteed window is IEP)
If still working at 65
If you have active employer group coverage through you or your spouse’s job and the employer has 20+ employees, you can delay Part B without penalty. Once that employer coverage ends, you get an 8-month Special Enrollment Period (SEP) for Part B and Part D/MAPD.
People under 65
You qualify earlier if:
- disabled for 24 months on SSDI (automatic Medicare)
- End Stage Renal Disease (ESRD)
- ALS (Medicare starts immediately)
Annual Enrollment Period (AEP)
Oct 15 – Dec 7 each year
This isn’t to start Medicare — it’s to change plans (MAPD / Part D).
This isn’t to start Medicare — it’s to change plans (MAPD / Part D).
Summary
SituationWhen do you enrollTurning 653 months before → 3 months after birth monthStill working w/ large employer coverageWhen leaving employer plan (8-month SEP)Disabled on SSDI24 months after benefits startALSImmediately
What is the difference between Professional Liability and General Liability?
General Liability (GL)
Protects against bodily injury, property damage, and personal injury that you (or your business) cause to others in the course of normal business operations.
Examples:
- Customer slips in your office → broken arm → GL covers that
- Your employee accidentally damages a customer’s property while working at their location
- You get sued for advertising injury (defamation / slander / libel)
Think “physical world harm”.
GL = If someone gets hurt or property gets damaged because of your business activities.
Professional Liability (E&O)
Covers financial loss due to mistakes, negligence, or bad advice in the services you provide professionally.
Examples:
- You as an insurance agent give incorrect information → client suffers loss
- Real estate agent mis-advises value or deadlines → client sues for monetary damage
- Tax preparer files taxes wrong → client gets penalty → E&O covers that
Think “brain work harm”.
E&O = If someone loses money because of your professional services, advice, or decision-making.
Quick breakdown
Insurance Agent Example (specific to you + your agency)
- If a prospect trips in your office and breaks a hip → General Liability
- If you advise the wrong Medicare plan and they sue due to cost exposure → Professional Liability / E&O
What is the difference between term life insurance and whole life insurance and indexed universal life insurance?
Term Life Insurance
- Pure life insurance coverage for a set period (10, 20, 30 yrs etc.)
- Lowest cost / most affordable option
- No cash value
If the insured passes away during the term → beneficiary gets the death benefit.
If the term ends & the person is still alive → policy usually ends.
If the term ends & the person is still alive → policy usually ends.
Good for: Income replacement, mortgage protection, young families on budget.
Whole Life Insurance (Permanent)
- Lifetime coverage (never expires as long as premium is paid)
- Has guaranteed cash value accumulation
- Premiums are fixed + locked in
- Built on guarantees
Cash value grows at a guaranteed interest rate & dividends (if participating company).
Good for: Long-term wealth, estate planning, legacy, final expense planning.
Indexed Universal Life (IUL)
- Permanent life insurance with flexible premiums
- Cash value grows based on a stock market index (S&P 500 typically)
- Not directly invested in the market → you get upside potential with downside protection (0% floor usually)
- Has cap rates, participation rates, and moving parts that change over time
Good for: Tax-advantaged accumulation, retirement supplemental income, more aggressive long-range strategy than WL.
Do you offer home insurance?
Yes we offer CA Fair Plan and put it side by side with your policy with Bamboo or Aegis Insurance to help cover your home completely. These rates are competitive.
Do you offer benefits for small and large businesses?
We actually offer health benefits as long as you have 1 W2 employee. This is a huge tax break for businesses to take advantage of and it helps retain your employees. We do medical, dental/vision, workers compensation, life insurance as well as short term disability.
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