Frequently Asked Questions

Please call our office at 1-844-441-5372 and our dedicated Service Department will help you navigate this transition.  

Does your family rely on your paycheck? Could you pay your bills if your paycheck stopped for a week, 2 weeks, 3 weeks or even longer? Protect yourself and family from losing everything because an illness or accident causes you not to work for an extended period.

Health Insurance is important but does not cover everything. During a major illness or accident your health insurance does not cover things like your house/rent payment, car payments, cell phone bill or groceries. These programs pay you cash and that money can cover these expenses. 

The Advantage Group General Agency consists of people with a solid understanding of all areas of insurance and financial services, however, our expertise is with worksite benefits and value-added services. The average tenure of our management team in the worksite market is 15 years, and our enrollment team has an average of 4 years of experience in the field. In an occupation that sees hundreds, if not thousands of new agents enter the market each year in Wisconsin, it is important to work with a team of people who have the experience and knowledge that you require for your business and employees.

Please call our office at 1-844-441-5372 and our dedicated Claims Department will walk you through the process.

Paycheck protection, also known as paycheck protection insurance (PPI) or income protection insurance, is a type of insurance designed to provide financial support to individuals in the event they are unable to work due to illness, injury, or disability. The policy aims to protect the insured person's income by providing a regular payment, often a percentage of their salary, during the period they are unable to work.

The main purpose of paycheck protection is to ensure that individuals can meet their financial obligations and maintain their standard of living even when they can't earn a regular income. It can help cover essential expenses such as rent or mortgage payments, utility bills, groceries, and other everyday costs.

Here's how paycheck protection typically works:

  1. Policy Coverage: The insured individual selects a coverage amount based on their income and financial needs. The policy can usually cover a percentage of their pre-tax income, often up to 60-80%.

  2. Waiting Period: There is a waiting period (also known as the elimination period) that the insured must go through before the insurance payments begin. This waiting period can range from a few weeks to several months, depending on the policy terms.

  3. Benefit Period: Once the waiting period is over, the policy starts providing regular payments to the insured. The benefit period may last for a fixed period, like two years, or until the individual can return to work or reaches a certain age, depending on the policy terms.

  4. Premiums: The insured pays regular premiums to maintain the policy coverage. The premium amount is determined based on factors such as the individual's age, occupation, health condition, chosen coverage amount, and other risk factors.

It's essential for individuals to carefully review and compare different paycheck protection insurance policies to find one that suits their needs and budget. Some policies may offer additional features, like cost-of-living adjustments or inflation protection, to ensure the benefit amount keeps up with rising expenses over time.

Keep in mind that specific policy terms and coverage can vary between insurance providers, so it's crucial to seek advice from a qualified insurance consultant or broker to understand the nuances of paycheck protection insurance and make an informed decision based on individual circumstances.

Gap filling in insurance refers to the process of identifying and addressing coverage gaps in an individual's or business's insurance policies. These gaps occur when certain risks or potential losses are not adequately covered by existing insurance plans. The consultant's role is to conduct a comprehensive analysis of the client's insurance needs and current coverage, and then recommend appropriate additional insurance policies or endorsements to bridge these gaps. By filling these voids in coverage, the insured can attain a more comprehensive and well-rounded protection against various risks and ensure financial security in the face of unexpected events.

Let's say you've recently purchased a brand new car for $30,000, and you financed it through a loan or a lease. In this situation, you are required to have comprehensive and collision insurance by your lender or lessor to protect their financial interest in the vehicle. This insurance coverage will pay for damages to your car in the event of an accident, theft, or any other covered incident.

Now, imagine that six months after purchasing the car, you unfortunately get into an accident, and the car is completely totaled. The comprehensive and collision insurance will cover the actual cash value of the car at the time of the accident, which could be significantly less than the initial purchase price. This is due to the depreciation that occurs with new vehicles as they lose value over time.

In this scenario, the payout from the insurance company may only be $24,000, reflecting the depreciation that occurred during those six months. However, you still owe $28,000 on the car loan or lease, as you've only made partial payments.

This is where gap insurance comes into play. Gap insurance is designed to cover the "gap" between what your car is worth at the time of the accident and the amount you still owe on the loan or lease. In this case, gap insurance would cover the remaining $4,000 balance, so you won't be left financially responsible for the difference.

Gap insurance is particularly useful for individuals who have financed a new car with a small or no down payment, as they are more likely to experience a significant gap between the car's value and the outstanding loan amount in the early stages of ownership when depreciation is at its highest.

Life insurance is a contract between an individual (policyholder) and an insurance company. In exchange for regular premium payments, the insurance company promises to pay a lump sum amount, known as the death benefit, to the designated beneficiaries upon the policyholder's death.

Life insurance is there to help your loved ones with financial needs if you aren't there anymore.

There are several types of life insurance, including:

  • Term Life Insurance: Provides coverage for a specific term (e.g., 10, 20, or 30 years).
  • Whole Life Insurance: Offers lifetime coverage with an investment component (cash value).
  • Universal Life Insurance: Similar to whole life but with more flexibility in premium payments and death benefits.
  • Variable Life Insurance: Allows policyholders to invest the cash value in various investment options.

The amount of coverage you need depends on factors such as your income, debts, lifestyle, and the financial needs of your beneficiaries. A common approach is to have coverage equal to 5-10 times your annual income.

A beneficiary is the person or entity (e.g., spouse, child, trust) who will receive the death benefit when the insured person passes away. You designate the beneficiary when purchasing the policy. You can update beneficiaries as needed.

Yes, some types of life insurance, such as whole life and universal life, have a cash value component. Over time, a portion of your premiums accumulates as cash value, which you can access or borrow against during your lifetime.

Please call our office at 1-844-441-5372 and our dedicated Service Department will help you make any desired changes to your policy.

In many cases, a medical exam is required for traditional life insurance policies, especially for larger coverage amounts. However, some insurers offer no-exam or simplified issue policies with higher premiums but quicker approval.

The cost of life insurance depends on factors like age, health, lifestyle (e.g., smoking status), coverage amount, type of policy, and the length of the policy term.

Yes, you can have multiple life insurance policies from different companies or even the same company. Owning multiple policies can be a part of a comprehensive financial strategy.

Dental insurance coverage can vary, but it often includes preventive care like cleanings and exams, basic services such as fillings and extractions, and sometimes major treatments like crowns, bridges, and root canals.

Dental insurance typically operates on a co-payment or coinsurance basis. Policyholders pay a monthly premium and are responsible for a portion of the costs for dental services, while the insurance company covers the rest up to certain limits or percentages.

Yes, there are different types of dental insurance plans, such as Preferred Provider Organizations (PPOs), Health Maintenance Organizations (HMOs), and Indemnity plans. Each type has its own network of dentists and coverage options.

It depends on the type of dental insurance plan you have. PPO plans often allow you to visit any dentist, but HMO plans usually require you to choose a dentist from their network to receive coverage.

Yes, many dental insurance plans have a waiting period before certain services are covered. Waiting periods are meant to prevent people from enrolling only when they need expensive treatments.

In most cases, dental insurance does not cover purely cosmetic procedures like teeth whitening or veneers. It usually focuses on essential dental treatments for oral health.

After receiving dental treatment, you typically need to fill out a claim form and submit it to your insurance provider, along with any relevant receipts or documentation from the dentist.

A dental deductible is the amount you must pay out of pocket for dental services before your insurance coverage begins. Once you meet the deductible, your insurance will cover a portion of the costs for eligible treatments.

Dental insurance is available to both individuals and through employer-sponsored plans. Individual plans can be purchased directly from insurance companies or through health insurance marketplaces.

Vision insurance coverage can vary depending on the specific plan, but it generally includes regular eye exams, prescription eyeglasses, contact lenses (either in part or in full), and sometimes even discounts on elective procedures like LASIK or PRK surgery. Some plans may also cover frames, lenses coatings, and other additional services.

While regular health insurance covers medical services related to overall health and wellness, vision insurance focuses specifically on eye care and related expenses. Regular health insurance may offer limited coverage for eye-related medical issues, such as eye infections or diseases, but vision insurance is designed to cater to routine eye care needs.

Even if you have good vision, regular eye exams are essential to maintaining your eye health. Vision insurance can help cover the cost of these exams, and if you ever need prescription eyewear in the future, the coverage can be beneficial. Additionally, some vision plans may offer discounts on eyewear, making it a cost-effective option.

Most vision insurance plans have a waiting period before you can use the benefits. The waiting period typically ranges from a few weeks to a few months, depending on the policy. However, some plans may allow immediate coverage for certain services like eye exams.

Yes, most vision insurance plans offer a network of eye care providers to choose from. You can select an eye doctor or optometrist from the network to get the maximum benefits from your insurance. Some plans may also cover out-of-network providers but at a reduced coverage level.

The frequency of covered eye exams varies depending on the plan and your age. For adults, most plans cover an annual or biennial eye exam, while children may have more frequent coverage (e.g., one exam per year) due to their rapidly changing vision needs.

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