Did you know that the first Insurance was created in China around 3000 BC?  It wasn’t exactly how the process works today, but this form of coverage was created thousands of years ago.  Sellers transporting goods on ships risked losing their valuables to shipwrecks, so to resolve this possible issue,ships would band together and spread products throughout all the ships to prevent all goods being lost in one single sinking ship.  A great idea was born.

American Insurance actually predates the American Revolution!  Benjamin Franlin, one of our founding fathers, co-founded America’s oldest and continuously active insurance companies – Philadelphia Contributionship was founded in 1752.   Many Philadelphians banded together to protect against fire damages and the high costs associated with such a loss.  This jump-started the insurance business in America.

Since that time, of course, insurance options have expanded to many varieties including:  Home, Auto, Fire, Travel, Life, Alien Abduction Protection, and Medical Insurance.  There are so many ways to insure the replacement of your belongings and protect your health, so why not review to make sure you have the best coverage(s) available for you and your family right now?

Be proactive, get to know your insurance policy.  Here are a few things you can do today to make sure you are prepared for tomorrow:

1. Review and organize your policies. Keep a hard copy somewhere safe.  If available, keep a digital copy as well. 

2. Take a look at what kind of coverage you have. What all is covered? do you understand the coverage specifics? What types of exclusions apply, if any?

3. Ask yourself: What other policy types are available?  Is your current plan the best for you?  Do you have medical coverage for prescriptions, or medical equipment when it is needed?

4. Is it possible you are not fully insured with your current policy due to life changes? Consider how this may create challenges down the road.

5. Make a call. Make an appointment with your current insurance agent to discuss any changes you may need or any policies that you may need to add/remove to get the amount of coverage that is right for you. 

Remember, with Medicare Part D plans, our pharmacy is glad to help with this question during open enrollment.

Article by Melissa Dye | Customer Service Representative at Byrd-Watson

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