Insurance Benefits and Programs

Government funded insurance and benefit programs provide assistance to individuals or families that need financial assistance primarily during difficult situations.

The insurance benefits can be provided directly by government funded programs or through a user pay system like Social Security.

Many of the insurance programs are designed to assist you when a catastrophe strikes such as a flood or other natural disaster. In some cases, a certain portion of the population, such as farmers, are protected from financial ruin with the help of crop insurance.

One of the most important insurance programs is unemployment insurance. With the current high rate of unemployment, many Americans do not have a job and they are depending on unemployment insurance to help meet their basic needs and living expenses.

Adjustable Rate Mortgage Insurance (HUD/FHA)

Buying a home is a big financial decision, but is also a dream for many Americans. This mortgage insurance program can help you buy a single family home. The U.S. Housing and Urban Development (HUD) agency does not directly loan money to you for buy a home, the Federal Housing Administration (FHA) does have approved lenders that make loans through FHA-insured programs.

If you are a home buyer or currently own a home and intend to live in the home and can make the cash investement, mortgage payments, and meet the credit requirements, you can apply for a home mortgage loan through an FHA-approved lender.

Crop Insurance

If you are an agricultural producer you may be eligible for crop insurance if you suffered losses from natural causes. The Crop Insurance program is administered by the U.S. Department of Agriculture Risk Management Agency (RMA). There are several different insurance plans that cover both crops and livestock. The availability of funds and crop insurance policy plans will vary by the state and county.

To be eligible for crop insurance, you must be an agricultural producer, farmer or rancher, and must have lost your crop or livestock because of natural causes.

Federal Long Term Care Insurance Program (FLTCIP)

This insurance program provides long term care insurance for federal employees to help pay for costs of care when you need help with everyday activities, or you have a severe impairment, like Alzheimer's disease. There are over 20 million members of the Federal Family that are eligible to apply for the insurance coverage that is provided by FLTCIP.

You are eligible to apply for this insurance coverage if you are a federal employee, a member of the uniformed services, or a qualified relative.

National FLood Insurance Program (NFIP)

The Federal Emergency Management Agency (FEMA) manages the National Flood Insurance Program. This insurance program allows homeowners, renters, and business owners to purchase federally backed flood insurance. This flood insurance offers you an alternative to disaster assistance to help meet the high costs of repairing flood damage to structures and their contents.

Communities must agree to participate and adopt floodplain management ordinances to reduce future damage from floods. In the U.S., there are more than 20,500 communites that participate in the program.

Flood insurance is available for business owners and residents in both high-risk and moderate-to-low risk areas. Federal flood insurance is required for buildings in high-risk areas that have gotten loans from federally insured or regulated lenders. Flood insurance is available to the entire community and the premiums vary according to the level of flood risk.

If you live in a community that participates in the National Flood Insurance Program, you should consider buying flood insurance before the next flood occurs. Just like other property and casualty insurance coverage, flood insurance is written by licensed insurance agents.

Social Security Disablitiy Insurance (SSDI)

Social Security disability insurance benefits are for individuals that have paid into the Social Security system and have earned enough credits and are unable to work because of a disability that has lasted or will last at least 1 year, or will result in your death. Learn more about Social Security Disability Insurance.

Unemployment Insurance (UI)

The unemployment insurance program is a Federal-State program that provides unemployment benefits to eligible workers that are unemployed through no fault of their own. This unemployment designation is determined by state law.

The unemployment insurance benefits can provide temporary financial help to eligible workers that are unemployed and meet eligibility requirements that are set by state law.

In most states, the unemployment insurance benefits are funded by a tax that is paid by employers.

To be eligible for unemployment insurance, you must have worked during a specific period of time, typically within the past 12 to 18 months. Also, you must have earned a minimum amount of wages that is determined by the state in which you worked. You must also by unemployed through no fault of your own and you may need to meet other state eligibility requirements.

To find out if you qualify for unemployment insurance, you need to contact your state unemployment insurance agency as soon as you are unemployed. In some states you can now file for unemployment insurance through the Internet.

Veteran Affairs (VA) Insurance Programs

There are many different VA insurance programs that provide insurance coverage for members of the Armed Forces. The insurance coverage includes both health insurance and life insurance policies.

The VA insurance policies provid coverage for both servicemembers and family members. Some of the VA insurance plans allow members to borrow against the value of their life insurance policies. Other VA insurance plans are specifically designed for disabled veterans or to cover your home mortgage in case of your death.

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