Input: Is Universal Health Insurance A Good Idea?

Output: This debate has been going on for the last century . In theory , how could anyone be opposed to everyone having health insurance ? And , in theory , if everyone was in the insurance risk pool this would be the best way to spread health care costs equally . By the same token , how could anyone be opposed to everyone having good and ample food & water , and everyone needs housing , and everyone needs utilities for their housing , and everyone needs transportation and there is a long list of other needs that we all have . The real question is can a society afford universal health insurance and thus universal health care in the sense that most Americans have become accustomed to getting it ? When you start looking at the economics of health care this becomes much more problematic . Health care is different from most services we consume in that it creates its own growing demand . Who does n't want to live longer , and live healthier during that longer life ? And , as you have probably noticed , we have a continually growing list of parts we can replace , once deadly illnesses we can now manage or cure , and treatments that just improve your `` quality of life '' . All this comes with a price tag and the price just keeps going up . I was born in 1957 for a cost of $ 400 , my son was born in 1987 for a cost of $ 4000 , and today a normal childbirth is easily $ 8000 + . As best as I can tell , babies are born the same way today as they were in 1957 but the cost has far outpaced general inflation levels in the economy as a whole over that time period . The painful reality is that providing universal healthcare in a modern society -LRB- e , g , - North America , Europe -RRB- has not been accomplished without rationing of healthcare services -LRB- however it might be disguised -RRB- . For instance , we have more MRI scanners in Memphis , TN than in all of Canada -LRB- a nation often cited as an example of where universal health insurance is a success -RRB- . Tests that get ordered and conducted on the same day here can have waiting times of months up there . There really is no definitive answer to your question . But it does highlight the gap between theory and reality when trying to address providing health insurance to a population .


Input: What Does Simple Retirement Plan Mean?

Output: what does Simple retirement plan mean ? It means that someone is using a boilerplate retirement plan created by the IRS to provide a retirement program for a small business . I love Simples as their name says it all . A Simple is a straight forward plan design with only a few requirements to comply with to have the plan . The best part for a small business owner is it costs next to nothing to provide . There is no testing of the plan which costs money . Just a nominal per head fee of active participants . The employer does n't pay fees for testing employees and accounting for employees who are n't in the plan . For a small business a Simple is a great choice for putting a retirement plan together for employees .


Input: What Does Simple Retirement Plan Mean?

Output: If the question is referring to some simple retirement plan , it could mean anything . But if youre referring to a SIMPLE IRA , thats another matter . Savings Incentive Match Plan for Employees Individual Retirement Account a tax-deferred employer-provided retirement plan that permits employees to set aside money and invest it to grow for retirement , but offers simpler and less costly administration as a non ERISA plan .


Input: How Can I Get Home Insurance Online In Illinois?

Output: The simple answer is yes . These days , most types of insurance can be purchased online . The process involves a process of collecting information on the insured , the property , including updates , and the past history of claims and or losses . At some point in the process you may need to talk to an agent , to verify and clarify any questions that may arise . Many discountscan beclaimed bycollecting all the information . We all like discounts . Apply online with us at WEBSITELINK


Input: What Does Stop Loss Mean In Health Insurance?

Output: Stop loss is normally a term used in self funded employer group health plans but I have heard the phrase used to describe traditional major medical plans as well . Your stop loss is the point where -LRB- at least in theory -RRB- your liability for paying out of pocket ceases and the carrier pays 100 % of future covered claims . This only works in a practical matter in the case of a high deductible health plan -LRB- HDHP -RRB- where eligible claims are covered at 100 % once the deductible is satisfied . If you have a copay plan you can satisfy your major medical deductible and then hit your out of pocket coinsurance limit -LRB- stop loss -RRB- but still be responsible for paying claims for doctor visits , Rx and other items .


Input: How Much Is Health Insurance For A Young Married Couple?

Output: The cost of insurance is based on each person 's age , zip code and the plan selected . You have a choice of health plans with no deductible , $ 500 , $ 2,000 and $ 5,000 . The higher the deductible the lower the cost . You can buy a platinum , gold , silver or bronze plan through your state exchange or off the exchange . The plans have the same prices no matter where you purchase them .


Input: When Can I Start On Medicare?

Output: You can start on Medicare when you are age 65 . If you have paid into Social Security taxes at least 10 years , or are the dependent of a spouse who has done so , you can get Medicare Part A for free . If you were on Social Security Disability for 24 months , you can get Medicare if you are younger than age 65 . Some other ways to get Medicare at an age younger than 65 is if you have end stage renal disease or ALS .


Input: How To Choose Long Term Care Insurance?

Output: Work with a good independent agent that can show you what the current cost of care is in your area . For example , I would put together figures that would show you what the average cost of home healthcare , assisted living and a nursing home would run . I would then take those numbers into account when preparing a long term care insurance benefits package . Since you will not need the care for several years you need to have a plan that factors in future inflation .


Input: Can Auto Insurance Be Cancelled?

Output: The short answer is yes . It is important to keep in mind , however , that most States , like Connecticut where we are , require liabilityinsurance as a condition of maintaining registration . Thus , cancelling insurance on a car without cancelling the registration could result in a fine , a suspension of the registration or both . If you are financing a car , the finance company requires both Comprehensive and Collision coverage on that car , and if leasing , not only those but also liability protection and usually at a secific level of coverage . Cancelling insurance in a case such as those could result in your car being reposessed . An insurance company may also cancel a policy . These are usually `` non renewals ' of coverage as a result of the insured no longer meeting underwriting standards . Before you do anything , it is best to check with your Insurance Professional .


Input: How To Get Money Out Of Your Retirement Plan?

Output: The laws around retirement plans can be complex and will have tax consequences , so I suggest that you consult with your professional advisors before you take any action . Getting money out of your retirement plan could be as simple as requesting a total or partial withdrawal or it may not be permitted at all until you reach a specific age . Unfortunately , unless the details of the specific plan are know , it is impossible to say . If you would like to work with a local Retirement Planner , you could start with a Google search . For example if you search for : retirement planner Halifax or retirement planning Halifax , my name along with several others will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Why Buy Disability Insurance?

Output: Disability insurance is fundamentally paycheck protection . The odds of you experiencing a disability , lasting at least 30 months , is statistically and substantially higher than dying . All your domestic expenses and future obligations are predicated on your earning ability . Its that important ! Buying term life insurance and spending the difference on disability insurance is a foundational part of defensive planning .


Input: Which Type Of Life Insurance Should I Get?

Output: What type of life insurance you get depends on what you want the life insurance for and for how long you want / need the coverage . An independent life insurance broker who represents several companies can help you find the right policy at the right price . Here is overview to get you started : Term is insurance is initially the most inexpensive type of coverage . The premiums rise at the end of each term and the policy has an expiry date . Conversion to permanent insurance is usually permitted before a stated age -LRB- check contract for details -RRB- , Best for short term needs . Whole life is permanent coverage and usually has a guaranteed level premium . The policy 's death benefit could be designed to rise in value , In addition there could be a significant build up of cash value . This type of policy has long term applications in financial , retirement and estate planning . Since the premium is level , it is initially higher than term coverage for the same amount . If cost is a concern a combination of whole life and term can often be an alternative . Universal life can provide permanent insurance coverage . I say can be because it is essentially a whole life policy `` unbundled '' where you control the amount of premium and the investment options . This flexibility is a double edge sword . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Which Type Of Life Insurance Should I Get?

Output: All great answers ... My 4 cents -LRB- I ca n't add just TWO hehehe -RRB- ... Stop buying life insurance ! What I mean is the old `` death insurance '' plan that everyone knows . You die , someone gets a check . Great ... . If you die . More often than ever before , we survive the cancer , heart attack , stroke , or other critical illness . What use to just kill us now only kills us financially . There is a new generation of life insurance that you can use without DYING . Commonly called Living Benefits Life -LRB- LBL -RRB- Insurance , these plans may allow you to tap into the `` death benefit '' upon the diagnosis of a named critical illness -LRB- like cancer or a heart attack -RRB- , or when you 're not able to perform 2 of 6 activities of daily living -LRB- ADL -RRB- . SO your `` death insurance '' can act like a long term care policy ! Talk to an agent that represents several LBL plans . UNDERWRITING is key . Buy the best plan that you can qualify for . You buy life insurance with your health ... you only pay for it with dollars . If you have questions ... Reach out ! - gravy .


Input: Which Type Of Life Insurance Should I Get?

Output: There are two main types of life insurance , term life insurance and permanent life insurance.Life insurance is purchased to protect beneficiaries from financial loss at the demise of the policy insured . If the financial liabilities , future obligations are temporary then term is the way to go . If they are permanent , then you need to consider permanent life insurance .


Input: Which Type Of Life Insurance Should I Get?

Output: The type of life insurance that you get depends on your need for the coverage . If you are protecting your family if the breadwinner died , you would want to get a policy that at least lasted long enough to get your children through college and/or paid off your mortgage . If you have small children , a 20 to 30 year Term policy would accomplish this . If you want the policy to pay for your funeral , pay estate tax , or leave an inheritance , then permanent policy is needed . If you purchase term insurance , there is a big chance that your policy will lapse and that your health or budget may not allow you to get a new one at that advanced age .


Input: Which Type Of Life Insurance Should I Get?

Output: We would need more information regarding your specific situation to provide an accurate suggestion of the type and amount of coverage that will be most suitable to meet and cover your needs . There is no one policy that is the best for everyone . We each have our own needs and purposes for buying life insurance . Some may buy life insurance because they just got married , some because they have a new child , some for estate planning , and some for income replacement , just to name a few reasons why people buy it . In evaluating which is best for you , there 's a number of factors to consider such as what type of coverage do you want/need , the reason you want to buy it , how much coverage and for how long -LRB- e.g. term vs. permanent -RRB- , premium affordability , health status , where you live , and others . One of the first things you need to do is identify the risk classification you qualify for . The risk classification is critical because this determines what the premiums will be for the policy you 're applying for . This is where insurance brokers are essential in your pursuit of coverage . They have the knowledge to guide you through the process and help you find the policy that 's going to be most suitable for you . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Does Aflac Have Health Insurance?

Output: No Aflac specializes in indemnity policies . These pay the policy holder a specified sum upon a qualifying event . I frequently will include Aflac 's policies in a group health planproposal they do serve a very valuable function just as a stand alone policy . However they areextremelyeffective in helping to manage costs while delivering high quality health plans .


Input: Does Aflac Have Health Insurance?

Output: Aflac sells in indemnity policies . Thesepolicy ` spay cash for qualifying event . Aflac is a great thing to have inadditionto your medical coverage but is notmeantto replace it .


Input: Does Aflac Have Health Insurance?

Output: If you are looking for Major Medical then no . Aflacs policies are good supplements to a major medical plan but I would not rely on them as my only policy . They pay in addition to other insurance and are designed to help with extra expenses and deductibles but will not come close to paying the whole bill if you are admitted to the hospital .


Input: Does My Car Insurance Cover Uhaul?

Output: Policy provisions vary by company but in most cases a U-Haul would not be covered by your auto insurance company since most U-Hauls are not of the private passenger type . The best thing to do is call your agent on this one so the agent can confirm if there is coverage and on the type of vehicle you will be renting . Otherwise I highly suggest you purchase the coverage from U-Haul upon renting the vehicle .


Input: When Are Variable Annuities A Good Idea?

Output: Products , in and of themselves , dont present a good value or a bad value . Product suitability for each client is important . You need to establish a personal financial profile that includes a risk tolerance assessment , your financial goals and a life expectancy review . A non-qualified variable annuity is a security and an insurance product that accumulates tax deferred with a guaranteed interest rate account and separate sub accounts with using equities and bonds . Variable annuities are generally expensive , so the value proposition has been called into question by many advisers . The inventory of variable annuities is significant and you may want to review the Morning Star reports on any variable annuity you may be considering . Variable annuities can lose money , so make sure your risk tolerance fits the product .


Input: Can People With Cancer Get Life Insurance?

Output: It depends on the type of cancer , stage , treatment and the period of time since all treatment has ended . Certain types of cancer , such as most forms of skin cancer , if caught early and `` cured '' , should not prevent someone from obtaining life insurance . Depending on the stage and treatment , rates may be standard or higher . Other forms of cancer may be insurable and others may not . Life insurance professionals with experience in cases involving such medical histories , can shop insurable cases from a wide variety of insurers to obtain the best possible offer .


Input: How Much Is An Eye Exam Without Health Insurance?

Output: I depends on where you go . It could be anywhere from $ 75 to $ 200 . You need to call around in your area . Walmart usually has good prices on basic eye exams . You will pay more for an ophthalmologist than an optometrist . Unless you think you have a problem such as cataracts , an optometrist can prescribe you with no problem .


Input: How Much Homeowners Insurance You Need?

Output: How much homeowners insurance you need is enough to cover a total loss to your home , other structures and your contents . Also you will want liability protection , loss of use and guest medical coverage . Best advise is consult with a local independent agent who can help you determine your specific needs and find you a policy that will fit .


Input: What Qualifies For Medicare Benefits?

Output: Persons who qualify for Medicare benefits will have paid Medicare taxes at least 40 quarters -LRB- 10 years -RRB- over their working lives . Most people qualify for Medicare when they turn 65 . People who have been disabled for two years can receive Medicare under age 65 , as can most persons with end stage renal disease or ALS . What qualifies for Medicare benefits are illnesses , hospitalizations , medical equipment , home health care , hospice and limited nursing home care . All of these must be within strict Medicare guidelines and by Medicare approved providers .


Input: Will Medicare Be Around In 20 Years?

Output: Due to the political nature of Medicare coverage , I do not anticipate Medicare will ever go away . Like all other government programs there is no doubt Medicare will continue to change and will cover fewer items and will shift more of the cost of care to the beneficiary in the form of higher deductibles and higher premiums .


Input: Will Medicare Be Around In 20 Years?

Output: Now THERE is the question of the century ! Whoever has the answer to that one gets a gold star . Personally , I ca n't imagine it going away , as no politician could possibly suggest that and get re-elected . A different question might be `` What will Medicare look like in 20 years '' . Again , we do n't have an answer - but I would say it will be here in 1 form or another .


Input: Will Medicare Be Around In 20 Years?

Output: While I am not an Oracle able to see into the future , I do not see Medicare going away . It may change from what we see today but some form of it will be available . There are never any guarantees and it is impossible to see that far ahead and give a definitive answer .


Input: How To Select Medicare Plans?

Output: You should consult an insurance agent who is licensed in your state to discuss options that exist for medicare options . You can also contact the Social Security Administration for some guidance on what options exist . Lastly , you could also seek out the advice of a fee based financial adviser who , for some cost , can advise you on medicare options that exist to you .


Input: How To Become A Long Term Care Insurance Agent?

Output: To be come a Long Term Care Insurance agent , you first need to get licensed in Health Insurance . This requires taking a test and paying the appropriate fees for licensing . Then you must be certified to sell Long Term Care by taking another test to show adequate knowledge of Partnership Long Term Care policies . You must get contracted with the carriers whose policies you wish to sell . Then develop your clientele .


Input: How Can I Locate A Beneficary To A Policy Of Federal Kemper?

Output: Protective Life bought Chase so you can contact Protective Life to inquire about that policy . Here is their contact information . Protective Life P O Box 12687 Birmingham , AL 35202 Phone : 1-800-866-9933 They do have an email address as well , which is ladphs@protective.com Best wishes and my sympathy on the loss of your mother .


Input: What Is Purchased Life Annuities?

Output: Life annuities would be annuities that pay an income benefit for the life of the annuitant . This means that as long as the annuitant is alive , the annuity will pay an income benefits . As soon as the annuitant dies the income benefits will stop . This happens regardless of the amount of money paid out -LRB- i.e. the insurance company may not have paid out all of the initial money paid into the annuity and in this case keeps the money that has not yet been paid out -RRB- .


Input: Where To Get Cheap Life Insurance?

Output: The interesting thing about life insurance pricing is that there is no preference - regardless of the size of the agency . The premium for the identical policy will be the same if you buy it from me , from any online website , or any other agent . If you have any underwriting issues , then the health rating you get will ultimately determine the premium you pay for the policy . This is why it is of utmost importance to discuss your unique situation with a knowledgeable advisor who can help guide you to the least expensive policy for you .


Input: Where To Get Cheap Life Insurance?

Output: There are many venues online , in malls , at Walmart , where you can shop for term life insurance . But to be sure youre selecting from the most competitive term life insurance market place , you need to use independent brokers that have contracts with all the leading term life insurance companies in the country . We can help with that .


Input: When To File A Claim On Homeowners Insurance?

Output: The best answer to that question is right after the loss occurs . Most policies require that the insured notify the company at the time of loss or within a reasonable time thereafter . The reason for this is that if there is damage to the house structure , for example , it is important to repair that damage , or make arrangements to protect the damaged areaas soon as possible in order to minimize the possiblity of further damage resulting from the lack of attention .


Input: Can I Get Renters Insurance Without A Lease?

Output: Yes , you can purchase Renters Insurance without a lease . Renters insurance is for the tenant and has no bearing on the landlord ; it provides Personal Property Coverage and Personal Liability Coverage . To obtain a quote and purchase renters insurance online in multiple States directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: Does My Employer Have To Give Me Health Insurance?

Output: Your employer does not have to give you health insurance -LRB- depending on size etc. . . -RRB- In fact , you will see many small -LRB- and perhaps larger -RRB- businesses in 2014 opt out of providing health insurance to employees . They will take the penalty and use the savings to be more competitive in their markets . Employees can be helped by experienced brokers since we can shop for them and find the best options .


Input: What Is The Best Advantage Plan For Medicare?

Output: There is no `` best '' Medicare Advantage plan . Benefits and premiums vary by zip code and from year to year . The `` best '' plan is the one that fits your needs and budget . Medicare Advantage plans are similar to traditional major medical plans in that they have copay 's and deductibles . But the difference stops there . Most Advantage plans have networks . Some networks are local while others are regional . Some Advantage plans only include coverage if you are treated by a network provider while others will include out of network coverage but with a higher -LRB- and usually separate -RRB- deductible , higher copay 's and higher out of pocket . Exceptions are made to the out of network penalty for true medical emergencies . Make sure you understand all details of the policy , especially your out of pocket maximum . The out of pocket limit does not include non-network benefits or Rx . It also does not include any non-covered medical treatment . In most areas less than half the doctors accept ANY Medicare Advantage plans . Even if your doctor does accept Advantage patients they may not participate in your particular plan


Input: What Is The Best Advantage Plan For Medicare?

Output: No company can be the best because the best means different things to different people . To compare Medicare Advantage Plans make a chart of the following and compare several companies > Hospital co-pays , doctor co-pays , maximum out of pocket limit , monthly premium , check if your doctors are in network , check to see if your hospitals are in network , compare the surcharge if you go out of network , compare if the plans are HMO or PPO networks , etc. . Only you can decide the plan that is right for you . But an independent agent who specializes with Medicare Insurance can definitely help you sort out the facts .


Input: What Is The Best Advantage Plan For Medicare?

Output: As the saying goes , hindsight is 20/20 . If we knew exactly what your health issues would be for the year , we could select the best plan for you . However , none of us know what we will need so we have to analyze the plans based on what we have used in the past and looking at the worst case scenario . The best plan is one that is affordable and covers everything that is important to you . Here are some things that we review with a client to design a plan that is based on them : 1 . Do all of your current doctors and hospitals need to participate in the plan ? 2 . Are there out of network benefits ? 3 . How much can you afford for each of the following : premium , deductible , co-insurance , co-pay , penalties , total out of pocket ? 4 . Does your plan include prescriptions ? 5 . Which plans cover the prescriptions you are currently taking ? Signing up for a plan is easy . Understanding what you bought may not be . Your cost is the same whether you go through a local agent or direct to a company . Agents have to recertify every year to offer this product . I suggest you find someone local that can help you analyze and understand your options so that you are comfortable and happy with your final decision .


Input: Does Life Insurance Affect Medicare?

Output: No , life insurance does not affect receiving Medicare . When someone has paid into Medicare long enough to be eligible for Medicare benefits ; and is age 65 , or disabled for two years , or one of a couple other ways to start collecting Medicare ; one 's assets do not affect one 's eligibility at all .


Input: Who Sells Disability Insurance?

Output: While most Life brokers are able to sell DI , you may want to find an independent agent who specializes in selling DI so they can shop around and find you the best quote . If you work with an agent who represents a specific company , they can only provide you with one quote , whereas an independent agent can provide you with quotes from all companies . You can also go through an MGA like Disability Insurance Services and they will connect you with a broker in your area who is already contracted with most carriers and will be able to assist you .


Input: Who Sells Disability Insurance?

Output: You have to be a licensed health insurance agent to sell disability insurance . Many agents shy away from selling individual policies because the policies are difficult to sell , and the people wanting to buy the policies are the ones least likely to pass medical underwriting . There are agents who specialize in selling disability insurance to doctors and other medical professionals . You can find agents by performing a local Google search .


Input: Who Sells Disability Insurance?

Output: To follow up and offer additional pertinent information ... Experienced brokers sell disability insurance and there are the best resource for providing the most accurate and unbiased information available . A broker is a certified professional that spends ALL of their time helping you . They are committed in finding you the best offer from the best and top-rated companies . In your area , you can easily find an experienced agent/broker that spends their time working for you , not themselves . And that is critical .


Input: Who Sells Disability Insurance?

Output: The disability insurance companies brokerage list of players are : Mutual of Omaha , Standard of Oregon , Mass Mutual , Met , Principle , Ameritas , Fidelity security , Illinois Mutual , Assurity , Lloyds of London . There are many other disability insurance companies in the US , but these are more popular among advisers who perform defensive planning in their practice .


Input: Does Homeowners Insurance Cover AC Repair?

Output: Talk to your Insurance Professional about the specific terms and conditions of your policy . If the unit is damaged as a result of a covered peril in your policy , then , subject to your policy deductible , there would more than likely be coverage available to pay the repair . If on the other hand , the damage is a result of wear and tear on the unit , then your Homeowners policy will more than likely not provide any coverage in that case .


Input: Does Homeowners Insurance Cover AC Repair?

Output: It may . If you have an equipment breakdown endorsement on your homeowners policy the ac repair may be covered depending on the cause of loss potentially less your deductible . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: What Does Cash Surrender Value Mean On Life Insurance Policy?

Output: The cash surrender value is the portion of your insurance that you have built up your own money in . Whole-life insurance by design is really like a reducing term policy with a cash account that builds guaranteed cash value as you get further and further into the policy years . All whole-life policies have a maturity date where your cash has built up to the point that you are completely self insured and the actual insured portion -LRB- the part the insurance company has at risk -RRB- has gone to zero . You can use your cash value while you are living through policy loans , cash surrenders , or using it to buy reduced paid up insurance .


Input: What Does Cash Surrender Value Mean On Life Insurance Policy?

Output: The Cash Surrender Value is the value of the policy if you surrendered the policy . This is different than the face amount . You can find a table of Guaranteed Surrender Values inside your policy . A Whole Life Policy will have several provisions designed to give you options should your economic situation change . You may borrow off the Cash Value if you need to . You can use the Cash Value to provide a reduced paid up insurance policy . You can allow the policy to pay for extended term insurance , which keeps the policy going until the cash value is used up . This is a big advantage in my opinion over other life insurance policies .


Input: What Does Cash Surrender Value Mean On Life Insurance Policy?

Output: There are basically two kinds of life insurance you can own : term and permanent . Term life insurance is temporary - it covers for a limited period of time before the coverage ends and it has no living -LRB- asset -RRB- value . Permanent life insurance is designed to pay a death benefit to last a lifetime , regardless of when you die . The premium is higher than term because it has to last longer and build a cash reserve to help keep the premium level . The cash reserve means the insurance company can offer a cash value to the owner that grows over time . At any given point in time , the cash surrender value is the amount that the insurer will pay the owner if the owner cancels the policy .


Input: What Does Cash Surrender Value Mean On Life Insurance Policy?

Output: Cash Surrender Value on a Life Insurance Policy will vary from company to company . Surrender charges can be punitive in the first 5-7 years of a policy and can extend out to 19 years with some companies . The account value less the surrender charge debited is the surrender value . Most life insurance policies are illiquid in the early years .


Input: What Does Cash Surrender Value Mean On Life Insurance Policy?

Output: In permanent life insurance , the policy will gain cash value which is yours to do with as you see fit . You can leave it there to gain more cash , withdraw it for personal use , etc. . The cash surrender is usually put in to deter people from letting the policy go and can be anywhere from 5 to 20 years . It is basically a monetary penalty against the cash you 've accrued in the general account .


Input: At What Age Should I Get Life Insurance?

Output: Best answer : six months old . Hopefully , your parents did this for you . Hopefully , they bought you a nice whole life policy at a ridiculously low premium . A guaranteed premium . For your lifetime . Since it is a lifetime contract , you have lots of time to grow both the cash values and the survivor benefit . They can both grow to enormous numbers if you let them . If your parents did this for you , more power to you . If not , its not too late for you to do this for your children and grandchildren . Next best answer : now . You are single ? It doesnt matter . You dont have any dependents ? It doesnt matter . You dont have any obligations ? It doesnt matter . The price will never be lower than it is now . Even if you are in perfect health , if you wait just two years to make the purchase , the price will be higher simply due to age . Why pay extra ? Whats that ? You have a pre-existing condition and want to wait until it improves or stabilizes ? Not a good idea . What happens if it gets worse ? Then you are out of luck . If you want life insurance , get it . You may end up paying more now . But if your health does improve , then you can re-shop the coverage and replace the current policy with a cheaper one . And if unfortunately you dont get better , then at least you will have a policy in force . To protect your spouse , or pay off the mortgage , or cover your business debt , or for any of the many other reasons you will need life insurance later on .


Input: At What Age Should I Get Life Insurance?

Output: The best age to get life insurance is when you have a need that you want to protect . E.g. getting married , having children , and buying homes are all reasons people buy life insurance . The younger you are and the healthier you are , the lower the premiums , so there is a cost advantage to getting life insurance while you are young .


Input: At What Age Should I Get Life Insurance?

Output: Life insurance is a product that protects those who could suffer economic loss at your demise , i.e. your immediate family , business partners and charities that depend on you . If your have a family , business or charity , you need life insurance no matter what age you are . Life insurance is part of defensive financial planning .


Input: When Do You Need Home Insurance?

Output: At a minimum , you might need to satisfy your mortgagee . Your mortgagee is most concerned about property because that is the basis for the loan . Next you should consider your own exposure for a law suit . Finally you should consider how it would cost you to replace your home and personal property if it is destroyed . If you have a $ 200,000 home and $ 100,000 of personal property , I would suggest that you consider those amounts as the homeowners policy limits and $ 300-500 ,000 as the liability limit . Lower limits can leave gaps which will make you very unhappy at the time of claim .


Input: What Does Medicare Part D Cost With Medicare?

Output: Part D is prescription drug coverage offered through private health insurance under the oversight of Medicare . Each plan has a different premium , the average being around $ 35 . Do not select a Prescription plan solely on price . Each plan has a formulary . Depending on the drugs you are on a plan may or may not be right for you . One expensive drug not covered in a formulary will wipe out any savings on premium . Make sure your drugs are covered by the plan .


Input: What Happens With Life Insurance When You Die?

Output: If the life insurance contract is in force when you die as the policy insured , the policy beneficiaries will receive the death benefit proceeds . But they will need to submit a copy of the certificate of death and the newspaper obituary citing your passing . It takes about 30-60 days from the death of the insured to receive the policy proceeds .


Input: What Happens With Life Insurance When You Die?

Output: When you die is when Life Insurance pays the death benefit to the beneficiary or beneficiaries that were named on your policy . If Term Life , the death benefit remains the same . If Whole Life that is growing cash value , the policy will continue to grow until you claim the death benefit .


Input: What Are Some Factors To Consider When Buying Long Term Care Insurance?

Output: Some factors to consider are , first of all , finding a plan for which you can qualify . If you do not have any serious health conditions and can get nearly any plan you want , then some things you will want to consider are how long you want the plan to last , how many months you want the elimination period to be , the daily amount you want to purchase , the amount of Cost of Living increase to get , and whether you want home health care to be paid with no elimination period . Consider your savings and investments and how much you would be willing to part with if you needed long term care . You can save premium by increasing the elimination period and other adjustments , if you can afford to do so .


Input: What Does Disability Income Insurance Cover?

Output: Disability Income Insurance covers disability that causes the insured person to be unable to work , and provides a cash benefit to replace a portion of the income that is lost . What it covers depends on the features of the policy . If the policy has an `` own occupation '' feature , the benefit will be paid as long as the employee can not do the same type of work as he/she had before the disabling injury or illness . If the policy included residual benefits , it will pay a portion of the benefit even if the insured is able to go back to work in a partial capacity . There are many options when selecting your Disability Insurance policy . Be sure to speak to someone who knows those and can help you select the ones that will provide coverage for you when you want it .


Input: What Does Disability Income Insurance Cover?

Output: Having just come off a long period of disability with some health issues , I can answer this . Disability insurance covers your working income . It does not cover investment income , rents or other things you may generate income from . The nice thing is they do n't count those things against you either . To collect on any disability plan you must meet their definition of disability . Do you have provisions for partial disability ? You can have a claim that starts as partial and morphs into total and visa versa . I also want to make sure as it is misstated in another post , you are NOT paid for time spent in your elimination period . That is considered the time you were `` self insured '' and is reflected by a lower premium . You are NOT repaid for this time spent . Actual payments begin at the end of the first 30 days after the elimination period is met . So with a 90 day elimination period , you would receive your first income check on or about day 120 .


Input: What Does Disability Income Insurance Cover?

Output: What Does Disability Income Insurance can cover most of your compensation , your retirement contributions , your business overhead , your key employees , your bank loansjust to name a few of the items that disability insurance can cover . And depending upon how you expense operation costs , some of these items may be deductible .


Input: What Does Disability Income Insurance Cover?

Output: Disability income insurance policies cover a portion of your income due to a disability . Most policies will cover at a maximum 70 % of your current income up to the amount purchased on the policy once all conditions are met . For example , if you purchased a $ 2,000 per month policy with a 90 day elimination period to pay until age 65 andhad a qualifyingdisability due to an illness or injury today . We must assume your income is at or above $ 2,600 per month . In exactly 90 days you would receive $ 6,000 for the first 90 days and $ 2,000 per month until your 65th birthday . Because there are a lot of features and limitations on disability insurance policies you should find an agent you trust to help you through the process to avoid unexpected surprises at a vulnerable time .


Input: How Much Does Car Insurance Cost After A Dwi?

Output: This question can not be answered by anyone execpt the insurance companies underwriters and their managers . Auto insurance is rated on numerous factors : what city the car is kept in , what safety features does the car have , what offenses are on your driving record , your age and etc. . This is just a few rating factors insurance companies consider . Then , to make this more complicated , each factor has its own weight within a given insurance company . For example , I live in Michigan and have a not at fault accident on my record . A regional insurance carrier counts that against me to increase my premium cost and price me out of its market . A national carrier , on the other hand , does not count the accident against me , whichmakes my premium muchlower . In summary , it really depends upon your insurance carrier . My best advice is to contact your agent and have him ask how this will effect the renewal rate -LRB- keep in mind your insurance carrier might issue a non-renewal because of your DWI -RRB- . If it will go up considerably you might want to consider shopping around .


Input: Is Auto Insurance Federally Required?

Output: As of this date and based on my knowledge and experience auto insurance is not federally required . It is however mandated in nearly every state in the united states . The levels of coverage required by each state is regulated by that state . To find out more about the requirements in your state contact a local agent or your local DMV .


Input: Can I Get A Life Insurance Policy On My 45 Year Old Brother?

Output: Yes , you can get a life insurance policy on your brother even if he is unemployed . The question will be who is the owner going to be ? You will have to explain if you are . If your just going to pay the premium , then there should be no real concerns . The amount of life insurance may come into question however . You should be able to get up to $ 250k with minimal issues . Over this you may have to provide an explanation since he is unemployed . Some companies will be more stricke than others so you may want to talk to your agent and see if they can look around for the best strategy moving forward .


Input: Can I Get A Life Insurance Policy On My 45 Year Old Brother?

Output: More than likely , yes , so long as you have an insurable interest . It is always best to check with your Insurance Professional who will be able to discuss with you in more detail this question and help to identify the best solution to meet your and your brother 's needs .


Input: Can I Get A Life Insurance Policy On My 45 Year Old Brother?

Output: You can get a life insurance policy on anyone if you have an insurable interest in them . You also need to let them know . Does he work with you ? Are you dependent upon him in any financial manner ? If not , what would you interest be ? You should discuss this with your agent . Gary Lane , Registered Representative and Agent , New York Life , 949 797 2424 . Thank you .


Input: Can I Get A Life Insurance Policy On My 45 Year Old Brother?

Output: Insurable interest is going to be the big question . What loss monetarily will you suffer by the passing of your brother . This is what an insurer is going to look at . If it falls on you to take care of your brothers family if he passes away or if you two have a business together this would be an insurable interest .


Input: Can I Get A Life Insurance Policy On My 45 Year Old Brother?

Output: It all depends . Do you have any insurable interest in your brother ? If you would not suffer any type of hardship from his death , then no . With relatives as close as siblings it is possible to establish insurable interest . Who will be the owner ? If he owns the policy then you ca n't get insurance on him . But if you own it then you will be able to . How much insurance do you want to get on him ? And what are your reasons ? These are questions you have to answer when it comes to getting insurance .


Input: Does Adderall Affect Life Insurance?

Output: It could , but probably will not affect your Life Insurance Rates . It depends on the dosage , and what the underlying condition is that it is being prescribed for . As long as it is a low to moderate dose for something such as basic `` attention deficit '' it should not affect rates very much , if at all .


Input: Does Adderall Affect Life Insurance?

Output: Adult Attention Deficit Hyperactivity Disorder -LRB- ADHD -RRB- and narcolepsy are both common health conditions for which people are treated with Adderall . Both of these conditions will most likely affect life insurance rates to some degree . With a history of control for over a year , compliance with treatment , and evidence of stability -LRB- such as the ability to hold down a job -RRB- , the effects on premiums will be least .


Input: How Much Is Homeowners Insurance A Year On Average?

Output: That definitely depends on several factors . Each insurance company will apply to each State 's Department of Insurance to rate based on different variables . Depending on your State , age of home , prior loss , and discounts , average costs are probably somewhere between $ 750 - $ 1500 , and for larger homes , a bit more .


Input: How Much Is Homeowners Insurance A Year On Average?

Output: Definitely depends on the state . Here are the Top 5 southern states average home insurance premiums Texas $ 1,560 Louisiana $ 1,546 Florida $ 1,544 Oklahoma $ 1,246 Mississippi $ 1,217 I believe as of this writing Florida has taken over as the highest average premium in the United States .


Input: Am I legally allowed to drop my work heath insurance for my daughter and just use her medicaid?

Output: You areprobably talking about the Childrens Health Insurance Program -LRB- CHIP -RRB- rather than Medicaid . These are two separate programs andthey operate under different rules and eligibility criteria.Eligibility rules will vary from state to state but they are based upon the parent 's income level . In most states a family of four can earn up to $ 47,700 annually and still qualify for this program . To get more detailed information you should call the CHIP hotline at 1-877-543-7669 and explain your specific situation to them to get a definitive answer for your state . Where your situation gets much more complex is in regards to Section 125 of the IRS regulations and whether your child would qualify for coverage under Title 19 of the Social Security Act or Title 21 -LRB- where CHIP come into the picture -RRB- . If your employer has a Section 125 plan in place and you are currently paying for your share of the health insurance on a pre-tax basis -LRB- the probability that this is the case is pretty high as most employers have adopted such plans -RRB- then you are probably locked into your current coverage until your group 's next open enrollment period . This is because becoming eligible for CHIP is not a `` qualifying event '' under the IRS guidelines that would allow you to drop your child from your group coverage during the group 's plan year . To be eligible for Medicaid under Title 19 there generally has to be a disability of some type involved or where one parent is absent , incapacitated or unemployed .


Input: Can I End My Car Insurance Early?

Output: You are able to cancel your insurance whenever you want , but make sure that -LRB- if you do need insurance -RRB- that you have obtained another policy somewhere else , prior to cancelling your existing policy . Also , depending on your insurance company , there could be cancellation fees or short-rate fees for cancelling mid-term as well , so make sure you ask about that .


Input: Can I End My Car Insurance Early?

Output: You are capable of stopping or cancelling your auto insurnace at any point that you wish . Be aware if you currently have a loan on the vehicle , the loan provider may purchase coverage for you and then charge you for that coverage . Many lenders require that you carry a specified minimum level of coverage while the loan is outstanding .


Input: What Life Insurance Do I Really Need?

Output: As you can see by this website and others , there are many opinions on what a nameless , faceless life insurance consumer really needs . That is because no one knows unless they know your unique situation -LRB- health , age , reason for insurance -RRB- , budget , and desires . But after writing thousands of policies , it is surprising how quickly some agents can boil down some great choices for you , that you may have never thought about . Talk to someone you trust , either by reading reviews or getting referrals . You may find the quest for life insurance is not as complicated as you think .


Input: What Life Insurance Do I Really Need?

Output: Your need to determine the amount and the length of coverage . If you add all your financial liabilities , future obligations and charities that depend on you , you 'll have a good idea on the face amount of coverage . Then add your income replacement from today until retirement age . If you can retire all you debts and future obligations within 30 years , you may be able to purchase term . But if these items are ongoing then you need to consider a permanent guaranteed life insurance product like guaranteed universal life .


Input: What Do Life Insurance Blood Tests Screen For?

Output: Since Life Insurance Company 's are in the business of paying a benefit upon your death , the blood tests look at everything that affects your mortality . In other words , how long do they expect you to live . The blood tests check everything from your cholesterol , the good and bad ratios , to liver enzymes . They look for nicotine to other drugs in the system This check is one of the most though available .


Input: What Do Life Insurance Blood Tests Screen For?

Output: Life insurance companies use blood tests to screen for HIV , nicotine , and illegal drug use . They perform lab tests that might possibly point to a diagnosis of diabetes , liver disease , coronary artery disease , kidney disease , blood diseases , and others . If abnormal lab results are found , they might ask you to get checked by a physician before proceeding with your application . If the results are just slightly abnormal , or not pointing to a serious health condition , they may just go ahead and approve the policy , but at a higher rate .


Input: What Do Life Insurance Blood Tests Screen For?

Output: Lab test ars done to detect any illness that may consider qualifications for tbs policy . Tabacco use , hepatitis , or any other disease to consider underwriting . It is a benefit for you may not know you have these illnesses when you have the physical . Many question on the medical form of the application will ask specific medical questions in order to know more about the health of applicant so that the underwriting decision may be made for rates and classification .


Input: Can You Get Long Term Care Insurance If You Smoke?

Output: You can get long term care insurance if you smoke . Although it may increase premiums , you should not be denied coverage just because of nicotine use . Each carrier treats smoking differently , so finding the company that charges the least price for nicotine is important -LRB- along with comparing benefits -RRB- . Reputable studies continue to show that smoking will lead -LRB- on average -RRB- to a higher risk of specific medical conditions . An experienced full-time broker can easily review the top-rated companies with you , find the lowest prices , and help you apply for coverage ... whether you are a smoker or nonsmoker .


Input: Can You Get Long Term Care Insurance If You Smoke?

Output: All morbidity products take into account the medical impact of nicotine use over the life of the proposed insured . The health complications from nicotine products are been so significant that premium pricing for long term care , disability and medical insurance coverage can be exorbitant , especially at the policy age of issue , starting at age 55 .


Input: Does Disability Insurance Get Taxed?

Output: Non deducted disability insurance benefits are tax free , generally up to 60 % of your compensation . However , if your have a business and your have operational deductions , you could deduct the disability insurance premium and secure up to 80 % of your compensation . But benefits would then be taxed at ordinary income tax rates .


Input: What Is A Deferred Annuity Contract?

Output: That is a great question ! There are two basic types of annuities , immediate and deferred . An immediate annuity is one that is made with a single lump sum deposit , and the annuity begins paying out no later than a year from the contract date . A deferred annuity is a contract that may allow periodic payments , or a single payment to fund it ; and the payments do not start for a specified number of years later . It will have a number of fees and penalties attached to the early withdrawal of the funds . A deferred annuity will generally provide a much larger return on your investment because of the time between funding and annuitization , something not provided in the immediate annuity . An immediate annuity would be something to consider if you received a settlement , or large inheritance , and needed to supplement your income , and lower your tax liability . A deferred annuity would be suited for creating an income stream for later in life , understanding that once it was funded , the money would become relatively unavailable to you until then . Please be sure to have your agent walk through a good suitability study with you to ensure you get the annuity that best suits your need . Feel free to inbox me , if you have further questions . Thank you for asking !


Input: What Are The Pros And Cons Of Variable Annuities?

Output: Variable annuities have separate sub accounts with access to equity , bond and combinations for market returns with tax deferral of gains until withdrawals , surrender or annuitization . Variable annuity prospects must establish a financial risk tolerance to prove product suitability . Variable annuities can be purchased as non-qualified or qualified with additional riders such as guaranteed income riders that generate are dependent on annuitization . But keep in mind that variable annuities are securities and have the risk exposure of market conditions that could lose money in the cash value account .


Input: When Are Annuities A Good Idea?

Output: Non-qualified annuities that are annuitized for the life of the annuitant guarantee life time income based on the annuitants life no matter how long the annuitant lives . Part of the annuitized payment is return of basis -LRB- tax free -RRB- amortized to life expectancy with some of the gain as well . When the basis is exhausted then the payment is entirely gain and taxable as ordinary income . That can be a good idea . But product suitability is very important and one of the items of suitability is a establishing a risk tolerance assessment . Non-qualified deferred annuities have three basic crediting methods : fixed interest rate crediting in an annuity , indice crediting in index annuity and crediting or sometimes debiting in separate sub accounts in variable annuities . Was you determine which crediting method fits your risk tolerance , then you should decide how long your annuity position should be and does the policy have any benefits for maintaining it in force .


Input: When Are Annuities A Good Idea?

Output: When are annuities a good idea ? 24/7/365 depending on your needs and wants . If the market scares you or your age makes it difficult to survive a market correction , annuities make great sense . They provide a safe platform for money to grow with minimal risk . They do have their own inherit risk however , which would be inflation risk . That is while your money is growing safely , it may not grow fast enough to keep pace with inflation . When you go to spend your retirement , immediate annuities make great sense to include for a simple reason , you ca n't outlive an annuity . An immediate annuity sets up a steady stream of payouts that can last as long as you live , or a set period of time if you pass early . They also can be set up with an inflation rider to help keep pace with inflation . As with any investment choice , it is wise to have other `` choices '' going on at the same time . One single product does not solve a person 's entire needs for retirement .


Input: When Are Annuities A Good Idea?

Output: Annuities are issued by life insurance companies . Annuities are good if you require a lifetime income . This is the reason annuities exist . They solve the issue of living too long and running out of money . Annuities are good if you want to accumulate money over an extended period of time . The interest earned by the annuity is deferred until withdrawn . There are many different variations on annuities with more being developed . Some are quite aggressive others are quite conservative but they all operate within the same format .


Input: Is Water Damage Covered Under Homeowners Insurance?

Output: Homeowners Insurance usually covers water damage except as excluded on a policy ! Water Damage due to Flood Waters from outside are not covered and also the Backup of Sewers/Drains may be limited or excluded on a home insurance policy unless endorsed otherwise . If water damage is caused as a result of a leaking roof or broken interior plumbing , the damage would usually be covered . Please note : plumbing is not covered by the home insurance policy since plumbing is expected to be maintained in good condition at all times by the homeowner . A home warranty policy may be separately purchased by the homeowner for maintenance repairs including plumbing . For further details on coverage , please consult your policy booklet and/or contact a licensed representative to assist reading the policy to answer your question in detail .


Input: Where To Purchase Annuities?

Output: That is a great question ! Since annuities are a form of insurance , you can purchase them from any reputable insurance company . You should look to companies that are well rated by Standard & Poors , or A.M.Best , and please be sure that your agent explains everything in detail until you understand it , before you purchase anything , okay ? Thanks for asking !


Input: Where To Purchase Annuities?

Output: Annuities are a product offered by life insurance companies , so you can purchase annuities on websites and at offices that sell life insurance . Some agencies specialize in certain types of annuities , or annuities in general . Those will have the most up to date information and knowledge to help you make a solid choice .


Input: Where To Purchase Annuities?

Output: An annuity is a life insurance product . The best person to discuss annuities with is a licensed life insurance agent . If you dont know which agent to contact , ask for referrals from friends , colleagues and neighbors . A good agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . The agent can match your desires with a suitable annuity .


Input: Where To Purchase Annuities?

Output: Tax deferred annuities can be purchase from a local independent representative who has access to a large inventory of annuity products . There are also many online brokerage companies that offer some of the most competitive annuity products in the market and generally are well versed in retirement planning and taxation .


Input: Does Homeowners Insurance Cover Lost Cell Phones?

Output: Homeowners insurance does not cover lost anything . There could be coverage under theft or mysterious disappearance . If this were a covered loss you would be subject to your deductible of which the most common deductible is 1000.00 . You would have to read your policy to see what your actual deductible is . Also do n't be surprised if you get a surcharge for the claim on your renewal .


Input: When Is Permanent Life Insurance A Good Investment?

Output: Permanent Life Insurance is a good investment provided you fund it properly . It has been my experience that most brokers/agents do not set these up correctly which in the future , when the client is expecting to use the cash value , it is not there . First rule : You need to give some time for the Life Insurance to grow and really become that asset you desire . Second rule : Look at taking loans versus withdrawals from the policy and what the loan rate is . Third rule : Consider using this as an asset however pay yourself back when you are not in need of it . You certainly do not have to pay back the loans , providing the policy does not lapse . Fourth rule : Do not let the policy lapse . Hense , the reason for proper funding . Fifth rule : Loans are tax-free . Withdrawals are tax free up to basis -LRB- the money you have paid in -RRB- . This gives you the basics of how to make a Permanent Life Insurance a good investment . To answer the `` when '' , I would say NOW if you are able to fund it properly . Talk to your agent about getting an illustration with a couple different companies , traditional vs. indexed permanent policies . Feel free to reach out to me if you would like more information as well . .


Input: Is Life Insurance Guaranteed?

Output: Life insurance is mathematics . The numbers can be juggled so that the company assumes responsibility for everything and issues a guaranteed policy , or you can assume some responsibility for investment results and purchase a policy in which there are fewer guarantees . The key issue is that all companies will provide coverage for a specified period of time if the specified premiums are paid .


Input: Is Life Insurance Guaranteed?

Output: Life insurance has many different products to choose from . When you ask the question is life insurance guaranteed all depends on your definition . What i mean is if you choose a term life insurance policy for 10 years than yes it 's guaranteed as long as you pay the premium . If you look at whole life insurance than it 's guaranteed for you whole life . It all depends on what insurance product is right for you , and how long you want it . Speak to an adviser who can educate you on the benefits of owning life insurance . Life insurance can be a great savings vehicle , asset protection , college savings plan for kids , and a tax free retirement .


Input: Is Life Insurance Guaranteed?

Output: If you are asking whether you are guaranteed to receive life insurance , the answer is no , not unless you apply for Guaranteed Issue life insurance . Guaranteed Issue policies can not decline you for health conditions , although they do have narrow age guidelines . For any other type of life insurance policy , approval is not guaranteed ; you must qualify by answering health questions and possibly also by taking an exam .


Input: Is Life Insurance Guaranteed?

Output: Life Insurance has both Guaranteed and non-Guaranteed components . Most term life insurance policies are guaranteed for the term which you purchase . Keep in mind not all term policies are guaranteed for the entire term . Example , you can get a 20 year term with a 10 year guarantee that the premiums will not increase . Be sure to read your policy before excepting it so you understand what the guarantee is . Permanent Insurance is built a bit differently . You can get a permanent life insurance policy which is guaranteed to age 120 . Keep in mind however , if the premium payment is not paid on time the guarantee could be at risk . Permanent policies , Universal Life & Whole Life both have guaranteed features as well as with Whole Life , you can get a Guaranteed Cash Value . Reach out to your broker/agent to look at all your options .


Input: How Important Is Renters Insurance?

Output: Renters insurance only becomes important when you need it . Keep in mind that renters insurance will cover your personal belongings -LRB- aside from fine arts , jewelry , etc. -RRB- , additionally , it will cover Personal Liability . Renters insurance is an unbelievable value if you think about it ... for $ 200 , or so , you can cover your personal belongings and , in many cases , get coverage for $ 500,000 of Personal Liability . Hope this helps .


Input: How Important Is Renters Insurance?

Output: Renters Insurance is important if you want to get funds which can be used to replace your material possessions which are damaged due to one of the events covered in the policy . Events might include water damage , fire & theft . If you have a lot of money just sitting in the bank , which you do not want , then perhaps you do not want Renters Insurance . You can also just take the risk that nothing will happen to your stuff although it may be a requirement to have Renters Insurance at the place you call home .


Input: How Important Is Renters Insurance?

Output: I have answered this question previously but it is such an important coverage that I will repeat it . Renters ' insurance policies provide a considerable amount of coverage for a relatively small premium . For starters , it is extremely valuable coverage in the event of a loss to your personal property from perils such as fire , smoke , theft and others . It also provides some coverage for liability which can be of significant value . Other desired coverages can be economically added . From a personal standpoint , I saw the value first-hand when my Sons had a severe kitchen fire in their apartment in Raleigh , NC a few years ago . No one was hurt but the apartment became uninhabitable as a result of the fire and smoke damage . Because my Sons were astute enough to have purchased a renters policy , they were reimbursed for all of their burned and smoke-damaged possessions and they received reimbursement for living expenses elsewhere while restoration was being completed . Additionally , the landlord sued them for negligence related to the cause of the fire ... which was quickly thrown-out in court ... but the insurance carrier provided them a defense for the negligence allegation . All-in-all , it cost my Sons their very affordable premium and a small loss deductible to get back to their lives . Without the renters policy , they would have been ` hurting ' for a long time .


Input: How Important Is Renters Insurance?

Output: That is a great question ! I guess it 's importance is relative to how easy it would be for you to replace all of your belongings , should something bad happen . If it 's not expensive for you to do , then you do n't need renters insurance -LRB- I 'm assuming that you could handle any damages awarded , if there were any suits involved in whatever happened -RRB- . If covering the cost of replacing your things could be a problem , then maybe a policy is n't such a bad idea . they are really pretty cheap , and can be a real lifesaver , when needed . I hope that helps , thanks for asking !


Input: How Important Is Renters Insurance?

Output: Insurance exists because people can not absorb the losses associated with renting property . If someone is injured , they could sue you into bankruptcy . Even though you might think that your property isnt valuable , try replacing it . Most renters can not afford to handle a lawsuit or the damage caused by a fire or other named peril . That is what a renters policy is for .


Input: Is Additional Insurance Necessary When Renting A Car?

Output: The insurance company you currently have your auto insurance with may extend coverage to a rental car . If so you do have the option of waiving the coverage offered by the rental car agency . I recommend you contact your agent to verify if your coverage applies to a rental car since not all polices will extend to rental cars . Also depending on the state you are in there are advantages of purchasing the rental cars insurance . For example if you have a solo car accident the damage will be picked up by the rental car agency and not your own insurance carrier thereby avoiding any potential points that may apply . But again , I strongly suggest you contact your agent if you are not sure that your current insurance carrier will extend coverage to a rental car .


Input: How Does Life Insurance Check For Nicotine?

Output: Life insurance companies can check for nicotine in several ways : 1 . Ask about it on the application 2 . Ask about it in a phone interview 3 . Check medical records 4 . Test urine samples 5 . Test blood samples Different types of policies and companies will use different methods to determine whether there is current and past tobacco use .


Input: What Do You Need For Renters Insurance?

Output: You need to know what level of coverage you are looking for and some information about the building and neighborhood . To get a proper quote , you will need to know what year the building was built , the number of units in the building , if there is a sprinkler system or alarm system , at minimum . You will also need to know the distance of the closest fire department and fire hydrant .


Input: Who Owns Life Insurance Policy When Owner Dies?

Output: If the owner and insured are two different people and the owner predeceases the insured , the ownership of the life insurance policy would be given to the contingent policyowner , if one was named . If a contingent policyowner is not cited in the policy , then the policy would transfer to his/her 's estate and go through the probate process . So , in short , ownership would be determined by a judge . When you set up a policy with the owner and beneficiary as the same person , many people will cite the contingent beneficiary as the contingent owner in case they want to carry the policy forward . Keep in mind , if the policy goes through the probate process to determine ownership , someone must still continue to pay the premiums . Please feel free to contact me for further assistance . Thanks very much .


Input: Who Owns Life Insurance Policy When Owner Dies?

Output: If there is a contingent owner named , the owner of the policy will become the contingent owner i -LRB- f the original owner of the policy dies -RRB- . If the insured person and policy owner are two different people , it is important to name a contingent owner so that the wishes of the policy owner are followed .


Input: Who Owns Life Insurance Policy When Owner Dies?

Output: Who owns the life insurance policy when the owner dies ? That depends if there is a contingent owner named in the policy . It does not automatically transfer to the life insured . if there is no contingent owner named in the policy , the the ownership would transfer to the owner 's estate and will be dealt with there . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . .


Input: What Is A Qualified Long-Term Care Insurance Contract?

Output: The term `` qualified '' should really be `` tax-qualified '' . A tax-qualified long-term care insurance policy -LRB- TQ -RRB- is one that pays out benefits that are not subject -LRB- in most cases -RRB- to income taxation in the year that they are received by the policy owner . -LRB- See `` NOTE '' , below . -RRB- The benefits paid out froma `` non-qualified '' long-term care policy -LRB- NTQ -RRB- may be subject to income tax in the year that they are received . Policies purchased prior to 1998 should be reviewed by a qualified tax advisor for any questions about taxation of benefits . Legislation in 1996 allowed for federal exemption from benefit payout taxationfor policies purchased after a certain datethat metspecific requirements outlined in that legislation . NOTE : LTC insurance policies that payout their benefit as a cash amount -LRB- indemnity policies -RRB- may exceed the government-allowed limit on how much of that benefit can be considered `` tax-qualified '' . If you have one of those types of policies , consult with the carrier 's policy owner service unit to determine how your benefits might be paid out should you qualify for care . Some carriers will only payout a cash benefit up to the federally-mandated limit to avoid triggering a 1099 being sent to the IRS . But , it 's better to check than be surprised .


Input: Is Earthquake Insurance Worth It For Renters?

Output: This is a really good questions . I know you do n't get allot of coverage in an earthquake policy for a renter but the deductible is low comparatively and one feature which I think is the best feature is the additional living expense . It 's good to know at the very least housing will be paid for temporarily . As for if it 's worth it or not . If your not sleeping at night thinking about it then it 's worth it .


Input: Can I Remove A Dependent From My Health Insurance?

Output: Dependent children are eligible to be covered under their parent 's health insurance plan up to age 26 . Regarding dropping a dependent from your health insurance coverage , itwill depend upon whether you have an individual health insurance policy or whether you are covered under a group health insurance policy that includes a Section 125 plan . If you have an individual policy then it should be a simple matter of contacting your agent or the health insurance carrier and notifying them of your intention to drop the dependent child from your coverage . It is most likely that you will need to complete and sign a termination request form so that all the legalities associated with terminating a person 's coverage are complied with . If you are covering your dependent under your group health insurance coverage through your employer and they have a Section 125 plan in place your situation will be more complicated . If you do n't know what a Section 125 plan is , if you are paying any portion of your health insurance premium and it is being taken out of your paycheck on a pre-tax basis then you are almost certainly subject to a Section 125 plan . Check with your HR person , the business owner or their insurance broker to get a definitive answer to this issue . Under IRS regulations because you are enjoying the advantages of pre-tax treatment for your share of your health insurance costs this advantage comes with some strings attached regarding the employee 's ability to change their coverage outside of the group 's normal open enrollment period . Essentially you have to have what is called a `` Change of Life Status Event '' to change your coverage status outside of open enrollment time . These are specific events such as marriage , divorce , adoption , losing coverage that you had elsewhere and a few other circumstances . Just getting mad at your 23 year old son who wo n't get off the couch and plays X-Box all day -LRB- while certainly a problem -RRB- does not meet the criteria of a change of life status event and you would not be able to drop them from your coverage until your group 's next open enrollment .


Input: How Does An Indexed Insurance Product Work?

Output: Video Transcript : Hello everyone , I 'm Steve Savant , syndicated financial columnist and host of the weekly online talk show , Steve Savant 's Money : The Name of the Game . I 'm answering questions from insurancelibrary.com and today 's question is , `` How does an index insurance product work ? '' Well , let 's say you wanted to buy a house . And you were n't really sure if you wanted to buy it , so you rented the home and you gave them a $ 5,000 check on the side to give you the right to buy it . At the end of the year , you saw the neighborhood decline or you did n't like the neighborhood . You could exercise your right to move out . You 'd lose your $ 5,000 , but that would be it . If you like the house and it appreciated in value , then your $ 5,000 was a good investment and you went ahead and you purchased the home . So depending upon the value , this works similarly in index products . In index insurance products , you have two ways to go . You can use an indexed annuity or you could use an indexed life insurance contract . Both of these work similarly to the posture I 've given you as a basic example of buying and renting a home . Well , that 's our consumer question for today . If you have any questions , just submit them to www.insurancelibrary.com .


Input: Does Medicare Pay For Skilled Nursing?

Output: Medicare will pay for a limited time of skilled nursing care if it is medically qualified . I.e. . You must be hospitalized for at least 3 consecutive days for the same condition that causes you to need skilled nursing care , and the hospitalization must be within 30 days of your being admitted into the nursing home . Also , your doctor must stipulate that you need skilled nursing care .


Input: Does Medicare Pay For Skilled Nursing?

Output: The coverage depends on if you are covered by Original Medicare -LRB- PartA & B -RRB- abd then you would typically also have a medicare supplement plus PartD coverage , or if you are covered by a Medicare AdvantAGE PLAN . Under original medicare you have to be hospitalized for three days and then admitted to the skilled nursing facility . It is important that this coverage is not available for CUSTODIAL CARE . Assuming the doctor certifies that skilled nursing care is needed medicare pays all costs for days 1 - 20 . For days 21-100 there is a copay of $ 148 for 2013 and then changes to $ 152 for 2014 . After 100 days you will realize why having a Medicare Supplement is so important and you need to understand the coverage limit of the policy you choose . With Medicare Advantage you are not required to be hospitalized for three days before being admitted to the Skilled Nursing Facility


Input: What Do Annuities Pay?

Output: Non-qualified deferred annuities pay differing guaranteed rates for differing periods similar to CDs rates . Annuity fixed interest rates historically have outperformed CDs fixed interest rates . Rates are always changing , so its important to confirm the rate before purchasing any of these products . One of the leading 5 year fixed annuities is paying 2.95 % , the 10 year 3.25 % .


Input: Does Renters Insurance Cover A Fire?

Output: Renters Insurance will cover your personal property up to the limits of your policy . For example if you have $ 50,000 in personal property coverage in the policy and all your clothes and furniture were destroyed in the fire then you would be able to claim that as a loss . Renters Insurance only covers your personal property and does not cover the structure . It will also cover for losses for theft . Lets say you had your lap top from home in your car and someone broke in your car and stole the computer then you could file that as a claim on your renters insurance policy . Some renters insurance also covers for Loss of Use and Personal Property off premises . This may not be available from ever insurance carrier .


Input: Does Renters Insurance Cover A Fire?

Output: Yes , it covers your personal belongings up to the limit in the policy subject to the deductible . Renters Insurance is designed to cover things like fire , lightening , vandalism , wind , and also provide protection from lawsuit . Check with your agent to determine the details of your policy . If you are shopping make sure it covers the full replacement of your belongings without depreciation .


Input: Why Exactly Does Life Insurance Underwriting Take So Long?

Output: If you are applying for a policy that requires an exam , there is the chance that the underwriter will want to see your medical records . As an impaired risk life insurance specialist , I have seen several cases take nearly 6 months due to the complexity , amount , and elusiveness of those applicants ' medical records . This is what I have learned , to help speed up the process . 1 -RRB- Put all the doctors you have seen in the past 5 years on your application , and include the doctor who diagnosed your most serious health conditions . Delays often happen because records are received , but then the underwriter notices that the patient was referred to someone else during that time . Getting all your doctors noted at the start does not necessarily mean the insurance company will order records from all of them , but at least it gives underwriters the opportunity to pick and choose which ones they want , so they order them in a timely manner . 2 -RRB- Do your exam quickly . Putting of an exam for months sets back the whole application process . Sometimes medical records are not even ordered until the exam is done . 3 -RRB- Warn your doctor or clinic that they will be getting a request for your medical records , and ask them to fill the order ASAP . You might even want to collect your own medical records to speed things up , if that is allowed . 4 -RRB- Provide additional details in a timely manner . Sometimes insurance companies will see something on your MIB or MVR or application that will cause them to need more information . Answering that extra question , filling out that extra form , or doing whatever needs to be done , can eliminate unnecessary delays . 5 -RRB- Do n't jump to another company without talking it over with your agent first . Give him/her a chance to find out where the logjam is , and get it cleared up . If you can not get answers from your agent , it 's OK to switch , but close your first application out , or transfer it to someone else . Otherwise , you may end up applying for the same policy with two different agents , and that can cause further complications and delays .


Input: Why Exactly Does Life Insurance Underwriting Take So Long?

Output: In order to properly assess a risk the life insurance company needs to have a complete picture . Essentially the more information you provide upfront the less likely an underwriter is going to ask for more information and order additional reports . There are ways you can help yourself . If there is going to be a medical then present yourself in the best light by : Getting a good nights rest Not doing any heavy exercise for 24 hours before Avoid food and beverages -LRB- except water -RRB- for 2 hours before Drinking water to help you provide a urine specimen Avoiding caffeine for several hours Avoiding alcoholic beverages for at least 8 hours Do not smoke for at least 1 hour before the exam If you are taking prescription medication be sure to have the information for reference Avoid taking non-prescription for 24 hours prior If you have an insurance exam scheduled and you are under severe stress or ill , consider rescheduling if you are not able them be sure and advise examiner . If you have a condition that you believe might cause your insurance to be rated , be aware that companies deal with conditions similarly but differently - check with your independent insurance broker . The underwriter needs a complete picture them more information you can provide up front the quicker a decision can be made . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Why Exactly Does Life Insurance Underwriting Take So Long?

Output: One other factor you need to be aware of is the potential back log of applications underwriters are have to process . If your application needed additional information such as those listed in the previous comments , then your application may go to the bottom of the pile and have to work it 's way up to get looked at again . Be sure your agent is the squeaky wheel as sometimes the applications are missed and just sit there . The only error here is that we are all human . Typical turnaround time to plan on is 2-4 weeks depending on the type of insurance you are applying for .


Input: Why Exactly Does Life Insurance Underwriting Take So Long?

Output: While technology has definitely shortened the life underwriting process , it has not reached the level that has eliminated waiting for the required information . Typically , life underwriters gather information regarding the risk of insuring a person 's life through more than just the application . They will check MIB -LRB- Medical Information Bureau -RRB- , the lab results and often medical records . The medical records often take the longest to obtain . Many doctors utilize services to copy the records & send them to the requesting party , while others do this `` in house '' . On occasion , we have had to have the insured called their doctor 's office to get them to release the records . Sometimes , obtaining medical records could take 30 - 60 days , resulting in longer underwriting times .


Input: Why Exactly Does Life Insurance Underwriting Take So Long?

Output: Life insurance underwriting takes into account many factors , including lab tests -LRB- f used -RRB- , results from paramedical or physical , financial records -LRB- if applicable -RRB- and answers to medical questions . Depending on the face amount of the policy , the process may not take as long as anticipated , depending on how quickly information is received and reviewed . An insurer must make certain all information is received and accurately gathered so the correct rate can be applied to the policy . Once approved , until the term expires -LRB- assuming it is a term policy -RRB- , your rate is guaranteed not to change and you may have specific conversion privileges .


Input: When Should I Buy Long Term Care Insurance?

Output: The best time to buy Long Term Care Insurance is while you can still qualify for it . People are much more likely to develop a health condition after age 60 , so it is a good idea to get the Long Term policy into effect before turning 60 , if not sooner .


Input: What Is Juvenile Life Insurance?

Output: Juvenile insurance was a major trend at one time in the United States . There were millions of policies written on children , most with a face amount well under $ 5000 . They were purchased to pay final expenses and provide a savings program for the child . While no longer common , this would be the motivation today . In some ethnic subcultures , a funeral is extremely expensive . Parents see the purchase of a whole life policy as coverage for the unthinkable , death of a child , and a good start on something that the child will want later .


Input: What Is Juvenile Life Insurance?

Output: You can get life insurance on minors and it is a very smart thing to do . If you lock in a rate for a minor , when they are young and healthy , they can keep that rate for the rest of their lives ! Buy a permanent policy , build equity over the decades , and the rate will remain incredibly low their entire lifetime . They can even borrow against it for college , a home , or retirement , tax free ! Wish more parents and grandparents would see the wisdom of this . Thank you . GARY LANE .


Input: What Is Juvenile Life Insurance?

Output: Juvenile Life Insurance is life insurance that is taken out on the life of a child . You can purchase it for your child when they are approx age 15 days old , up to the age when they become an adult . Some companies sell Juvenile Term Life and some sell Juvenile Whole Life . The Term policy does not have cash value , but would cover funeral costs if the child should pass , and can be converted to Whole Life later on . Juvenile Whole Life has cash value that can be used for college or other expenses .


Input: What Is Juvenile Life Insurance?

Output: Juvenile life insurance is especially important for those that have trouble saving money . Funeral costs average $ 8,000 to $ 12,000 depending on your location . God forbid a child to pass away , but you do want enough to cover their final expenses . Term life on a minor is very inexpensive , whereas a juvenile whole life will cost a few dollars more . One thing I do with my clients buying life insurance on themselves is to add a child life rider which can give all the children a set face amount -LRB- usually $ 10,000 each -RRB- for one low rate usually under $ 5.00 per month with no limit of children covered . This is one of the most affordable options for families of 3 or more children .


Input: What Is Cross Purchase Life Insurance?

Output: In a business with , say , two equal shareholders , life insurance can be cross-owned to fund a written cross purchase buy-sell agreement . Shareholder A owns , and is the beneficiary of , a policy on the life of shareholder B. B buys a policy on A in the same way . If B dies , the buy-sell agreement would normally provide that A buys the shares of B . The life insurance proceeds A receives income tax free would provide the cash necessary to meet this obligation .


Input: What Is Cross Purchase Life Insurance?

Output: Cross purchase life insurance would be the life insurance policy used to fund a buy-sell plan . In a buy-sell plan funded by cross purchase life insurance , each business owner purchases a life insurance policy that would pay them the amount it would take to buy out the others , if their partner -LRB- s -RRB- died .


Input: Does Education Affect Car Insurance?

Output: Your education does not necessarily effect your car insurance . What I mean by this is you are not going to get better or worse coverage based upon what kind of degree you have . However , having an advanced degree can offer you some premium discounts . With one of the carriers I work with they will offer a discount for any degree above a high school diploma . So , if you have a Ph.D , J.D. M.D. / D.O. you will receive a greater discount . I hope this helps .


Input: Can Health Insurance Be Used Out Of State?

Output: Health insurance can often be use out of state , depending on your insurer 's provider network . Typically , larger companies such as Blue Cross , Aetna , Humana and UnitedHealtcare have nationwide coverage which allows you to utilize many physicians and hospitals . Of course , you can always view provider network information before purchasing a health insurance policy .


Input: How Would A Medicare Voucher Program Work?

Output: A Medicare voucher program as proposed by Paul Ryan would mostly work like the current system . Your current options are to enroll in traditional Medicare and buy a supplement plan or not . Or you can opt out of original Medicare and enroll in a privatized Medicare Advantage system offered by insurance carriers .


Input: Does Home Insurance Pay For Mold Removal?

Output: Maybe . First , you must examine your policy to see if there is a universal denial of coverage for any mold damage . If there is then you are out of luck . However , if there is no such denial of coverage , move on to step 2 . Second , determine the source of the mold . This is important because mold needs moisture to grow . If your mold problem can be traced to a pipe bursting and spraying water all over your home , then you can make the claim . If the mold is growing because your house is old and moisture got in due to lack of maintenance , then you are out of luck . Another example is water backup , if your sewage drain backs up and you have resultant damage , without a sewer/drain backup endorsement you will be denied coverage . So , in summary : 1 -RRB- is mold excluded no matter what ; and 2 -RRB- if mold is not excluded , was it caused by a covered cause of loss ?


Input: How Much Is Homeowners Title Insurance?

Output: Normally , insurance agents do not write title insurance . This is a specialty product that is written by licensed agents inside title companies . The price is not common knowledge however ; it is disclosed during the closing for a home . I dont believe that you have an option over the price . You do have an option over which Title Company will handle the closing . You might check with a realtor to determine if there is any difference in the price of their insurance and other services .


Input: How To Choose A Long Term Care Insurance Policy?

Output: When choosing a long term care insurance policy , you will want it to do what you want it to do , and fit your budget . Everything else is compromising so that you get the features that are most important to you at a price you can afford . Some features that are important to many people are that the policy will pay for home health as well as nursing hoe or assisted living care , that it has a cost of living feature to accommodate escalating costs , or that it has a short enough elimination period that not much has to be paid out of pocket .


Input: How Can I Get Auto Insurance Online In Ohio?

Output: one word of caution here : be careful where you get an auto insurance quote from when shopping online . Many of the websites that offer auto insurance quotes actually do n't sell auto insurance at all ! These sites are known as lead generation sites . They simply collect your info and then sell it to insurance agents . In some cases , dozens of agents . Your phone will ring off the hook ! Easiest way to tell the difference between a lead generation site and an insurance agent is that an agent will always have his/her name on the website , along with an address and phone number .


Input: How Can I Get Auto Insurance Online In Ohio?

Output: You can easily purchase Ohio car insurance online at affordable rates . Fortunately , prices in the Buckeye state are quite low compared to most other ares . Recently , a national study concluded that our prices were among the lowest in the US . And they are ! We put our name on our website as we are located here in Ohio . Although located just North of Kings Island , we serve the entire state . Our address and phone number are easily available . There are many reputable websites . As an experienced Ohio broker with more than 32 years of experience , I endorse Ohiocarinsurancerates.com . Articles are current and regularly updated and your free quotes will allow you to find the lowest available prices from the top-rated carriers . But as previously mentioned , there are other reputable national websites . Naturally , your rate will depend on many factors , including -LRB- but not limited to -RRB- your age , zip code and driving record . Rates , for example , in the Cincinnati area will be different than the cost in Toledo or Akron . The Columbus area -LRB- and Central Ohio -RRB- does typically feature some of the most competitive options in the state .


Input: How Much Is The Cheapest Renters Insurance?

Output: I can not speak for all of the carriers out there , but the lowest premium amount that I have seen for renters insurance coverage was about $ 100/yr . at a $ 15000 coverage level . Every carrier sets there own premium and coverage thresholds . To best find out what rates are available within your area contact a local agent to discuss your coverage needs and if the first agent you contact is n't a good fit contact another .


Input: What Percentage Of Small Businesses Offer Health Insurance?

Output: Due to how fluid and dynamic the small business world is you will never be able to get a perfectly accurate figure on how many small businesses offer health insurance to their employees . However , studies over the last few years have show a slow but steady decline in the percentage of small businesses who offer group health insurance to their employees . In 2013 we witnessed the first time that the estimated percentage of small businesses offering group health insurance fell below the 50 % level , coming in at a little over 49 % . It is projected that this level will decrease somewhat further -LRB- probably mid-40 % range -RRB- when 2014 statistics can be compiled .


Input: What Should I Be Paying For Life Insurance?

Output: What you should pay is determined by how long you want coverage and how long you want to spread the payments . A single pay whole life policy provides the most coverage for the longest time for the least premium . Limited pay policies provide the most coverage for a little longer time and a little more premium , and so it goes until you get to term policies . With a term policy you pay for limited coverage and if you dont die during term period the company doesnt pay anything .


Input: What Should I Be Paying For Life Insurance?

Output: What you should be paying for life insurance is dependent on many variables . Some of those factors are your age , health , gender , tobacco use , and the type and amount of life insurance you want . To find the most competitive life insurance prices , you can go to a website that offers quotes from many different companies . Keep in mind that you may not qualify for those rates , and be open to reviewing all your health details with an agent so you can get the lowest priced policy to fit your unique variables .