Everyone tends to focus on the need for health insurance, we certainly do here at MHG. However, the fact is, there are several other types of insurance that you should have before you are sufficiently covered. While each person has different needs and different circumstances, almost everyone can benefit by having additional coverage for other things besides medical expenses. Here are some other types of insurance to consider, each of which have a specific role in protecting you and/or your family.

Disability/Loss of Income Insurance

Disability coverage can often be financially more important than health insurance. For example, consider someone who had an accident and could not return to work for a few months or longer. Not only are there medical bills, but there is no income to help pay normal daily living expenses. If that person was working on a ship/yacht/boat, maybe in addition there are other land-based costs that were not there while onboard (Rent!). This is a recipe for financial disaster, but having disability insurance can help by providing you with income when you cannot work.

Life Insurance

Life insurance is simple. It is a policy that helps protect your loved ones from the present and future financial losses they would face in the event of your death. There are many different types of life insurance, but they all have the same primary purpose. The best way to determine whether or not you need life insurance is simple, EVERYONE should have it! Even if you do not have family members depending on your income, wouldn’t it be great to leave a legacy by designating your favorite charity as the beneficiary upon your death?

Travel Medical  Insurance

Travel Medical insurance is an inexpensive and easy way to make sure you have coverage for accidents or illnesses when you travel outside the range of your existing insurance at home. It is also a great way to fill in gaps when you are between jobs (as long as you aren’t living in your home country). Travel insurance, like the other insurances above, comes in many variations from the most basic emergency cover, to coverage that includes the cost of your trip should you be unable to take it or complete it. It can have provisions for loss of luggage, repatriation benefits, and of course it can meet Visa requirements for certain countries that may require insurance as part of being granted entry.

Whether you have questions about your current yacht crew health insurance plan, or are looking for additional coverage such as sick pay / disability income or life insurance, the Insurance Specialists at MHG are glad to be of service. Call us today at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

FORT LAUDERDALE, FL (March 1, 2018) – MHG Insurance, the cruise industry’s benefits specialist, has released a groundbreaking study of the benefits provided by the cruise industry. The exclusive report, titled Cruise Industry Benefits Report, is the inaugural issue and includes a snapshot of the benefits provided across 22 cruise lines along with relevant topics affecting benefits in the industry.

“With the continued expansion of the cruise industry and a full order book for new ships over the next few years, sourcing and keeping your best crew will become more of a challenge as the demand for quality crew increases,” said Edward “Mole” Telfer, MHG’s Cruise Division Director. “The Cruise Industry Benefits Report will be a valuable resource for cruise lines to use when building their benefits strategy. The Report has been a labor of love for us at MHG, as we believe passionately in what we do and want to best prepare our clients for the future.”

The focus of the report is the benefits matrix, a comprehensive list of the industry’s benefits provision. The issue also includes a welcome message from CLIA President, Cindy D’Aoust, Ritz-Carlton Yacht Collection’s Lyall Duncan touches on the importance of benefits when it comes to recruiting and retaining the industry’s best, Global Medical Management speaks to additional ways cruise lines are helping to care for their employees, and Salen Ship Management’s Niklas Peterstam provides a unique perspective as a recruiter and recipient of benefits.

MHG Insurance continues to be at the forefront of developing insurance solutions and products to meet the changing needs of the cruise industry, businesses, and individuals around the world. To receive a copy of the Cruise Industry Benefits Report or to schedule an appointment to review the report and discuss your benefit strategy, please contact Edward “Mole” Telfer at +1 954 828 1819, pr@mhginsurance.com or see us at Seatrade Cruise Global, booth 927.

About MHG Insurance

Established in 1991 in Miami, Florida, MHG Insurance is an independent, global, full-service insurance brokerage and consultative facility. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, risk mitigation programs, business insurance and financial services all supported by comprehensive attention to service support for all of our clients. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. In the U.S., MHG provides group and individual employee benefits along with advice on federal regulations regarding the Affordable Care Act. For more information about MHG Insurance and the services we provide, please visit mhginsurance.com

FORT LAUDERDALE, FLORIDA (February 27, 2018)- MHG Insurance Brokers announced today that Account Executives Nadia Bedasse-Francis and Tom Nickerson have been promoted to managerial positions within the U.S. Life & Health Division. With plans to continue growing the Life and Health Division, Nadia will now move into a Business Development Manager role, while Tom will now serve as a Manager in the U.S. Life & Health Division.

Prior to taking on these new roles, Nadia and Tom both served as Account Executives working side by side managing accounts, looking for new business, assisting clients with claims, and much more. In these new roles, Nadia and Tom will be able to focus on their strengths, which will allow MHG to continue to grow and operate more efficiently. This will help existing clients knowing who their point of contact should be, and prospective clients having their needs met.

“We are excited about the changes being made within our Life and Health Division” said Edward “Mole” Telfer, MHG’s Cruise Division Director. “At MHG, our number one goal is always a positive customer service experience, and we are proud to say that we are second to none in that regard. These strategic moves will only strengthen our expertise, which in turn will strengthen our clients’ experiences.”

MHG Insurance Brokers has been providing insurance guidance and solutions since 1991. The company has established an unrivalled reputation for providing quality insurance products that meet clients’ coverage requirements and budget.

About MHG Insurance Brokers

Established in 1991 in Miami, Florida, MHG Insurance Brokers is an independent, global, full-service insurance brokerage and consultative facility. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, risk mitigation programs, property and casualty insurance and financial services all supported by comprehensive attention to service support for all of our clients. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. In the U.S., MHG provides group and individual employee benefits along with advice on federal regulations regarding the Affordable Care Act. For more information about MHG Insurance Brokers and the services we provide, please visit mhginsurance.com.

Have you ever needed to borrow money? Chances are that you have. At some point in life, everyone finds themselves in a situation where they may need to take out a loan, borrow money from their parents, dip into their savings, etc. It’s part of helping yourself get squared away, or getting to the next level, or maybe even just to stay afloat. Many don’t want to put themselves into debt, and sometimes there is no other option. But what if I told you that you can borrow money from your Life Insurance policy? Now do I have your attention?

Well, Can I?

Yes, you can borrow money against your life insurance policy. It is a quick and easy way to get cash when you need it most, with no explanation needed of how the money will be used. Also, unlike bank loans, a policy loan has no effect on your credit, and if you can believe it, you don’t have to go through a credit approval process or credit check. This is because you are essentially borrowing money from yourself. However there are some specifics to note before you make the decision to contact your insurance agent.

The Specifics

For those of you who are thinking about borrowing money from your life insurance policy, let’s not get ahead of ourselves. First, you need to know that this can only be done with a permanent or whole life policy, not a term policy. A whole life policy typically has a higher monthly premium than a term policy, partly because it lasts for life. Part of those monthly premiums will collect as cash value that you can have access to. Keep in mind it can take quite a few years to build any cash value, so it may be significantly lower than the total of your premiums payments.

Once you have enough of a cash value built up, then you can borrow money. Unfortunately, you can’t go and purchase a life insurance policy right now and take out a loan tomorrow. However, this may be the little push you needed to get life insurance if it was something you have been putting off. It should be said that it isn’t a good idea to get life insurance coverage just for loan purposes, or trying to beat the system. This is just one of many benefits for those who make the decision to get coverage.

The Fine Print

It should also be noted that depending on your loan, it will still be expected to be paid back with interest, much like a bank loan. Typically the loan can be paid back with lower interest rates and a more flexible schedule, however it should still be paid in a timely manner. Some loans won’t require you to payback, however the loan amount will be deducted from your death benefit. There will also be interest to pay in this case. Even better news, the loan is not recognized by the IRS, so it will be tax free. The only way you will have to pay taxes on the loan is if the policy lapses, then you must pay taxes on the full amount of the cash value.

If you are interested in purchasing life insurance, or have any questions about your policy, or which policy would be best for you and your family, contact us at 954-828-1819 or visit us online at mhginsurance.com. We have the insurance specialists to assist and advise you on the best coverage for you and your loved ones at every stage of life.

When you get sick or injured, taking prompt and appropriate steps often determines how quickly (or slowly) you recover from the condition. However, this does not mean that the best course of action is to always head to the nearest hospital Emergency Room (if you are ashore) or to declare SOS, simply because you need a tissue. With regard to your health insurance and also in an effort to get prompt care, Urgent Care facilities are often the best place to go, if you aren’t going in an ambulance. In contrast, sickness or injury onboard, no matter how minor it may seem, should be treated with the utmost care and as an emergency. Some of the most common mistakes that are made regardless of where they happen include:

· Getting injured and then getting up and moving right away

· Not notifying anyone of something that happened or that you don’t feel well

· Continuing to ‘work through the pain’

· Not asking for help

· Spreading whatever you might have among the crew or guests

· Making the assumption that you will be fine

While any or all of these may be in play at the same time, the key is to realize when your behavior matches any one of these and to take corrective action before it gets worse. You should have your own onboard medical protocols and procedures readily available, and you also should be familiar with them in the event they are not accessible at the time of the incident.

With injuries, it can be difficult to know if something is a bad strain or sprain, or whether it’s broken. Don’t test it to find out! Instead, don’t move unless you absolutely must and ask for help. Once the situation has stabilized, have it evaluated by a medical professional onboard or at the nearest port.

On the other hand, you have some sort of illness that is making you feel uncomfortable, the key is to determine what it might be as quickly as possible, and take appropriate actions to treat the condition. In the event of a suspected contagion, isolate yourself as soon as you can.

Certainly there are any number of different medical situations that can arise while at sea or ashore. Some are of Urgency, while clearly others are an Emergency. The secret to a successful outcome in any case is knowing what steps to take, whether it is you, or a fellow crewmember that needs assistance. It’s also important to know what requirements you may have under your health insurance and/or P&I insurance for notifying the appropriate people about any accidents or injuries that might occur. That way the proper coordination may be made to facilitate costs of treatment and coordination with the hospital/doctors/facility that provide you with care.

Whether you have questions about your current yacht crew health insurance plan, or are looking for additional coverage such as sick pay / disability income or life insurance, the Insurance Specialists at MHG are glad to be of service. Call us today at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

A company is only as good as its bottom line, and one of the best ways to ensure your bottom line is where you want it to be, is by employing the best workforce you can. At MHG, we often preach the importance of retaining top employee talent, and one of the best ways to do that is by offering a comprehensive benefit package, mainly a group medical plan. One of the ways insurance companies are trying to keep down their costs is by promoting a healthy lifestyle, and most of the top companies have implanted wellness programs.

First, what you need to know about these wellness programs is that they are essentially a rewards program through your health insurance company. They offer incentive by going to the doctor, using a step tracker, logging healthy eating habits, keeping a sleep diary, and much more. Based on the level of activity participants may earn rewards such as gift cards, electronic devices, bikes, etc. ! So now begs the question, how will implementing this help my company?

1. Saves You Money

One of the benefits of using a wellness program is the opportunity to save your company money. Depending on the program, you can save a percentage of cost on monthly premium. For example, some programs have different levels to motivate your employees to reach. Each level will offer a higher percentage of savings on that particular employee’s monthly premium. So, if you have a motivated group, there is a potential to save thousands of dollars.

2. Healthier Staff

Another benefit of implementing a wellness program is the potential of having a healthier staff. If you have a group of healthy workers it will only help the overall morale of your business. Healthy people tend to be happier, work harder, and will be absent less. A group of healthy people may also help keep your cost increases at renewal time to a minimum.

3. Cool Prizes and Gifts

Not only does health promote happiness, but so does earning some cool gifts and prizes for FREE! Your employees will appreciate the opportunity to earn free gifts or free money in the form of gift cards by simply going to the doctor and/or increasing physical activity.

4. Retain Top Employees

As stated earlier, MHG echoes the importance of companies retaining their top talent, and research shows that employees who feel valued will remain loyal. So, offering a full benefits package including one with a wellness program will only help make your workforce feel like they are valued and important. Thus, helping you long-term by not having to pay to use a recruiter to fill open positions and spend countless hours training new hires. Obviously turnover will happen no matter what, but one of our goals is to help you keep it to a minimum.

For more information on other benefits that could be available to your employees, read our previous blog, “Tips on How You Can Afford Health Insurance Benefits for Your Employees” MHG Insurance Brokers offer many different insurance solutions for many areas of business. If you are interested in purchasing a disability plan, health insurance, or life insurance, contact us at mhginsurance.com or call us at +1 954 828 1819. Our insurance specialists have the knowledge and experience to assist and guide you to the best coverage for your budget.

When looking at what insurance plan is best for you and your crew, there are the typical thoughts that come to mind. How much is the premium? What is the deductible? Will my primary physician be in network? Yacht crew have a specific set of needs when it comes to their medical insurance plan, even more than just international coverage. What about many of the benefits that may help yacht crew, that aren’t in the insurance contract? Which is why it is so important to get to know the service and support side of yacht crew insurance. The following are several of the different points that you should be thinking about when selecting your yacht crew insurance plan.

Help When You Have a Need

The first point is pretty self-explanatory. Some companies have better customer service than others, whether it is the insurance carrier or the broker. If you don’t work in the insurance industry, it is quite easy to get confused by terminology and policy wording. Even just understanding how your policy works can be a challenge. You want to make sure you are partnering with companies that will be there for you in your time of need, whether guiding you through a medical emergency, or answering a basic question.

Stuck Paying the Entire Medical Bill

One of the more common issues seen across yacht crew insurance is crew members stuck paying for the entire medical bill and then claiming back. The main reason is because yacht crew travel all around the world, making it easy to go to a doctor, or an office, or a hospital that isn’t in your network. This is why it is so important to always ask for assistance before seeking care (especially a potentially higher cost treatment), and having a service minded insurance company can greatly assist.

Top Rated Doctors in Network

A complaint that many have regarding the medical industry is how someone can trust a doctor they know nothing about. This is especially true if you are in a foreign country with a different healthcare system (and possibly a different language!) than your home country. Do they use different practices? Different medicine? One way to combat this issue is by using a carrier that has global knowledge and experience. They may be able to help guide you to doctors who have a higher rate of successful outcomes for the type of care you need, in the area you are located.

24/7 Assistance

Medical emergencies don’t wait, and they don’t only happen during normal office hours. If a crew member is having an emergency at 3 a.m., the last thing you want to hear is a voicemail telling you that someone will contact you during business hours. It is important to make sure your insurance carrier is available and responsive 24/7.

Having proper insurance is important whether you are at sea, or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. 

DOUGLAS, ISLE OF MAN (January 11, 2018) – MHG Insurance announced today that Jack Okell has been promoted to Analyst. In this newly created position, Jack will reconcile the premium and claims experience for any given account, in addition to providing reports to underwriters in the London market.

Jack was studying Mathematics, Statistics and Physics at Lancaster University in England when he joined MHG as part of the Isle of Man Governments STEP scheme, a program which places Manx undergraduates with local businesses for the summer. Previously, he served as a member of the Army Cadet Force, where he learned self-discipline and the importance of working within a team setting.

“Jack previously worked with MHG as an intern, but it didn’t take long for us to realize his importance and value to our team.” said Cathy Lane, Director of European Operations. “Jack has proven eager to learn and gain experience in any setting, and we are excited to watch and support his growth as he takes on this new role with further responsibility.”

MHG Insurance has been providing insurance guidance and solutions since 1991. The company has established an unrivalled reputation for providing quality insurance products that meet clients’ coverage requirements and budget.

About MHG Insurance

Established in 1991 in Miami, Florida, MHG Insurance is an independent, global, full service insurance brokerage and consultative facility. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, risk mitigation programs and business insurance all supported by comprehensive attention to service support for all of our clients. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. In the U.S., MHG provides group and individual employee benefits along with advice on federal regulations regarding the Affordable Care Act. For more information about MHG Insurance and the services

DOUGLAS, ISLE OF MAN (January 26, 2018) – MHG Insurance announced today that Jessica Kramer has joined the company as Underwriting and Claims Assistant to provide benefit and claims support to European-based yacht clients.

Prior to joining MHG, Kramer worked in the shipping industry for 12 years, specializing in crew management, payroll, and insurance. Most recently, she worked as a Marine Personnel Officer for a leading global maritime service provider, managing crew on offshore vessels in the North Sea.

“Jessica is an excellent addition to the team” said Cathy Lane, MHG’s European Operations Director. “We’ve been looking for a suitable candidate to step into the Underwriting and Claims Assistant role for quite some time now. We are extremely pleased to have found Jessica. Her experience and personality are a perfect fit.”

MHG Insurance has been providing insurance guidance and solutions since 1991. The company has established an unrivalled reputation for providing quality insurance products that meet clients’ coverage requirements and budget.

About MHG Insurance

Established in 1991 in Miami, Florida, MHG Insurance is an independent, global, full service insurance brokerage and consultative facility. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, risk mitigation programs, business insurance and financial services all supported by comprehensive attention to service support for all of our clients. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. In the U.S., MHG provides group and individual employee benefits along with advice on federal regulations regarding the Affordable Care Act. For more information about MHG Insurance and the services

As we grow older, there are many of us who think back and regret not doing certain things while we were young. There are activities or decisions that we can’t make now because it’s too late, or we don’t have the time or energy. I’m sure many of you are thinking about skydiving or some other thrill seeking adventure, but I’m talking about purchasing life insurance!

While the benefits of having life insurance in your 20’s may not be obvious to all, they are enough for you to consider buying a policy. So if you find yourself asking the question, “Should I Buy Life Insurance in My 20’s?” The answer is YES!

Cost

Similar to health insurance, life insurance premiums are less costly when you are younger, typically because you are less of a “risk.” When in your 20’s, you may be thinking that you don’t need life insurance now, you’ll wait until you get married, or start a family, or buy a house. While all of those are great reasons to get life insurance, you could be costing yourself a few hundred dollars or more per year in premium by waiting. The older you are when buying a policy, the more costly the premiums. Something important to note, many times you lock in that price for the rest of your life.

Health

Most consider younger people to be healthier. While that may not always be the case, insurance companies tend to reflect that outlook in price and requirements. Depending on the face amount, you may not have to go through the extensive physical in order to get insured. Many older people have to go through a full physical and sometimes can be denied coverage. However, if you apply for it early enough, there is a chance that you won’t have to be examined at all and still attain coverage.

Investment

When most people think of life insurance, I doubt they are thinking about it as a financial investment opportunity. But depending on the type of policy, that is exactly one of the benefits it can offer. Whole Life and Universal Life insurance policies are much like savings accounts that you can withdraw money from, essentially taking a loan from yourself.

Also, after a certain amount of time, you can withdraw all of the money without having to pay a penalty. Usually your money will earn an ROI after a certain amount of time. So unlike some life insurance policies, you won’t be putting your money into a “black hole.”

Situational

Every person’s situation is different. Which is why you should evaluate your life when making a decision to purchase life insurance. Being a young person in your 20’s, there is a chance that you don’t have as much disposable income as someone who is a bit more established in their career. Keep in mind that once you become more established, you may wish your younger self had purchased a policy so that you would be paying a lower premium later in life.

Maybe, you could be starting a family, in which case you definitely need life insurance. If you are having trouble deciding which route to go or how much coverage you need, call us. We are here to help!

If you are interested in purchasing life insurance, or have any questions, we’re here to help! Please contact us today at 954-828-1819 or visit mhginsurance.com. We have the insurance specialists to assist and advise you on the best coverage for you and your loved ones at every stage of life.