Each month the latest headlines pertaining to Michigan life insurance and Michigan health insurance disseminate new laws, findings and observations. In this installment of Michigan Health and Life, review these facts and stats on life and health plans:
Among the awareness months across America, the state of Michigan observes September as the Life insurance month. Celebrating five years, it was five years ago that the National Association of Insurance and Financial Advisors (NAIFA).
The Life and Health Insurance Foundation for Education (LIFE), Governor of the state of Michigan, Jennifer M. Granholm, designated September “Life Insurance Month.”
Did you know that in the state of Michigan that 89 percent of the residents have Michigan medical insurance?
The concept of Life Insurance Month grew from the need to educate consumers about making the appropriate arrangements for loved ones. Data and statistics compiled in the state of Michigan showed that subsequent to premature deaths, more than 26 percent of survivors, and dependents were often encumbered with astronomical bills and the financial wherewithal due inadequate Michigan life insurance. The monetary aftermath left many Michiganites obtaining loans, taking on extra jobs or even downsizing to small residences.
Despite the awareness, several trends unique to Michigan life insurance and health plans highlight several statistics, facts:
- When it comes to ‘binge drinking” Michigan tallies has staggering incident rates. As for shopping for a Michigan health insurance policy, it is legal for health plans to assess habits such as smoking cigarettes and alcohol consumption to set premiums.
- Also, Michigan is ranked as one of the most violent states in the nation. For every 100,000 residents, there is a crime rate of 526 offenses per capita. Actuaries may include high crime rates to calculate a policy’s cost of Michigan life insurance.
- Alternatively, Michigan leads America as far as residents, who have Michigan health insurance. There is less than a 9 percent geographical disparity among residents without adequate health plan coverage. Hopefully, this ensures a consumer’s market for equitable Michigan health insurance.
- Compared with other states such as Ohio and Illinois, residents of the state have a more than an 85 percent Michigan health Insurance coverage rate.
Click “Michigan life insurance quote” or health insurance quotes to compare policies.