Frequently Asked Questions

Below are some of our frequently asked questions. If you have any other questions or concerns, please feel free to contact us.

  1. How long will it take for my life or health insurance to be effective?
  2. Why did my health insurance premium go up when I never use the insurance?
  3. I thought I could get health insurance even if I have a serious health condition so why was I declined coverage?
  4. Do all children get health insurance coverage regardless of their current health condition?
  5. Do red cars cost more to insure?
  6. Can I make my insurance payment using a credit or debit card?
  7. What is a deductible?
  8. What is workers compensation insurance?
How long will it take for my life or health insurance to be effective?
As little as 2 weeks and as long as 8 weeks depending on the information needed for underwriting.  We will make sure it is complete and accurate.

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Why did my health insurance premium go up when I never use the insurance?
Premiums are raised at least once a year at renewal and sometimes in between.  Cost of health care and ever changing medical advancements are reasons for increased rates.  However, when you have an increase, every policy holder with the same plan and same deductible as you gets the same increase that you received.

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I thought I could get health insurance even if I have a serious health condition so why was I declined coverage?
The new health care reform laws that relate to coverage for all regardless of health conditions does not go into effect until 1/1/14.

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Do all children get health insurance coverage regardless of their current health condition?
Children under the age of 19 are guaranteed coverage regardless of health conditions.  This became effective 9/23/10 due to health care reform.  Carriers are also (lawfully) allowed to rate up for the condition.  The amount of rate up depends upon the health condition of the child.

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Do red cars cost more to insure?
No, red cars do not cost more to insure than other colored cars.

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Can I make my insurance payment using a credit or debit card?
All payments made to Salem Insurance Agency must be made in the form of cash, check or money order. 

For payments made directly to insurance companies, many of them have the option to pay using a debit or credit card by calling or using the company's website.  Click here to see if your company provides the ability to make payments online.

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What is a deductible?
An Insurance Deductible is the amount of a loss that an insured has to pay out-of-pocket before reimbursement begins.

Let's say in insured has a deductible of $500 and the insured gets into an accident which causes $2500 worth of covered damage.  The insured is required to pay the deductible of $500 and the remaining $2000 of coverage will be paid by the insurance company.

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What is workers compensation insurance?
Click on the link below to visit a brief guide on purchasing workers compensation insurance.

Workers Compensation Insurance Guide

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           609 W Lincoln Ave, Goshen, IN 46526    (800) 437-5860      Copyright © 2017 Salem Insurance