Datasets:

diya22

/

llm

like 0

Why Is Life Insurance A Unilateral Contract?

Check with your state insurance commissioner for guidance in establishing a car insurance company. There will be capital requirements that might stop you from the venture. You may find that laws are more favorable in another state for establishing an insurance company; however, you still must meet the requirements in the state where you want to operate.

What Does Suze Orman Say About Long Term Care Insurance?

The best place to buy health insurance in New Mexico is from an experienced broker that has a reputable website. It's important that he/she represent all of the major insurers in New Mexico. The state will partner with the federal government to create the Health Exchange Marketplace. Starting in October of 2013, an Open Enrollment will allow consumers to purchase individual and family plans without answering medical questions or being denied for coverage. A federal subsidy could also reduce premiums, depending on household income. Are you one of the 21% of the population that is not currently covered? As an experienced broker, we're here to help. You'll find Exchange policies quite affordable and very comprehensive since so many benefits are now mandated.

What Is Net Asset Value Of A Mutual Fund?

The Net Asset value of a Mutual Fund is the fund's value per share market value. This is the price investor buy fund shares from the mutual fund company. It is calculated by dividing the total assets of the fund, cash stocks and other securities less any outstanding liabilities by the toal number of shares outstanding. The calculation is done daily based on closing market values. 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 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.

What Is Group Health Insurance?

Whether whole life is a good investment or not depends on how you define a good investment. That being said, it can be a good investment when you look at it closely. Life insurance creates cash at death and whole life is designed to be in force when you die, not if you die within a specified term From an estate planning point of view, that is a good thing, If you need insurance coverage, then the tax advantaged growth of a participating whole life policy can be attractive from a wealth accumulation point of view.The funds can, among other things, be used to supplement retirement income. 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.

Can I Get Health Insurance If Unemployed?

Your employment status does not effect your eligibility for individual health insurance coverage. The important question is how long have you been unemployed? With the closing of the 2015 open enrollment period on February 15th an individual has to experience a "change of life status event" in order to enroll for coverage before next year's open enrollment period. Loss of group health insurance coverage from a previous job is a change of life status event. You have 60-days after a change of life status event to enroll in individual coverage. You should have the option of enrolling directly with a major medical insurance carrier in your state or through the government health insurance marketplace. It should be noted that if you have recently lost employer based health insurance you should have the ability to continue your coverage through your former employer's group health plan for some period of time. This will vary depending upon your state of residence and the size of your employer. If you worked for a company with 20+ employees they are subject to the Federal COBRA continuation guidelines and you could continue your coverage through them for up to 18-months as long as you pay the entire monthly premium in a timely manner. You have 63-days after termination of employment to exercise your COBRA continuation privilege. If you worked for a company with less than 20 employees then state continuation rules would apply and these do vary from state to state.

Why Does Life Insurance Cost More For Men?

Life insurance costs more for men simply because men die sooner than women on average, according to actuarial tables. The difference in rates between men and women is not as much at younger ages and for short term insurance. It is in longer term and permanent policies, and policies purchased at an older age, where the price increases for men show up more. That is because the policy is insuring the male to an older age, and the chances of mortality are higher.

What Is Homeowners Insurance Binder?

A binder is a one page summary showing the policy is issued or now in force. We use the term the policy is bound and this is where binder comes from. In most cases when a new policy is issued an agent can issue a binder to the insured or lender showing proof of coverage since the actual policy deceleration pages will not be available for several days.

Why Do You Need Disability Insurance?

If you were injured in an accident or had a debilitating illness that prevented you from working, how long can you go without a paycheck? How will you pay your bills? How will you pay for your health insurance? Most people do not have enough in savings to pay the bills in the event of an extended illness. If they do, chances are it will come at the expense of the kids college fund or retirement savings.

Who Must Purchase Health Insurance?

Most student health insurance plans are quite limited in scope. They normally provide benefits limited to the student health center on campus but may also include benefits for a hospital that is near the campus. These plans usually do not cover pre-existing conditions, or if there is pre-existing coverage there is a long waiting period. Student health insurance plans typically track the school year and terminate in the summer when the school year ends. There are no carry over or runoff benefits.

Why Do I Need Medigap?

Some investment brokers from firms like Wells Fargo happen to have a life insurance license so they can offer variable annuities to their clients but they tend to not use it for life insurance. While a few may actively sell life insurance most do not. Access to insurance companies and products may be limited at these firms. Insurance is a complex financial product requiring a planning expertise that most investment brokers do not have. If you need insurance advice I suggest that you seek out the services of a life insurance professional.

What Company Has The Best Long Term Care Insurance?

The best long term care insurance company and its product must be determined by gender, age, smoking status, health history and current health condition. That being said, there are only a half dozen or so long term care insurance companies in the brokerage market. Genworth should be considered as a leader in the long term care insurance market.

When Can I Switch From Medicare Advantage To Medigap?

Cash surrender value of the policy is the asset value of a life insurance contract. As property, life insurance has value and is liquid. If the policy owner decides to "cash in" the policy, the insurance company will pay the cash surrender value to the owner within a week or two.

Why Does Homeowners Insurance Increase?

Homeowners Insurance is a contract whereby a homeowner transfers his/her risk to an insurance carrier in return for a contract and a small premium. Homeowners Insurance Premium will usually increase from year to year; however, by chance a decrease may be seen once in a while. Insurance companies increase the Dwelling Coverage each year to keep up with the increasing cost of reconstruction; after all, homeowners insurance's primary purpose is to rebuild a home in the unfortunate event of a total loss. The small increase of dwelling coverage each year is usually the purpose that draws attention when the premium rises; however, this is very insignificant. Insurance companies are audited each year and are obligated to comply with State Department of Insurance regulations in each and every State where they underwrite risk. Each year, insurance carriers calculate the necessary premium to maintain a safe financial condition and offer security to all homes insured; the largest reason for premium increase would be 'loss experience' during the prior year, another reason may be due to increased operational cost including but definitely not limited to reinsurance premium paid. Insurance Companies either have an internal actuarial department or hire an independent actuarial firm who are charged with the responsibility of calculating premium based on underwriting factors and prior loss data. For this reason, carriers only offer annual policies and are unable to predict risk on a longer term basis. Since carriers experience different loss results each and every year, insurance rates and increase percentages are never the same from one year to the next. Since paid losses continue to grow, claim frequency is showing growth and litigation is becoming more commonplace, insurance companies raise premium to keep up with the outflow of payments. It is important to recognize that claims and operational expenses are paid from the pool of collected policy premium. For a more detailed explanation or financial report from your current carrier, contact your carrier representative to receive a report. Also, data is available as published by the Department of Insurance in most States.

What Does Homeowners Medical Insurance Cover?

Yes, but for certain types of sexually transmitted diseases (STDs) - this is covered under Medicare Part B. The covered screenings include tests for chlamydia, gonorrhea, syphilis, and Hepatitis B and can be done once every 12 months. If your doctor accepts assignment (accepting the Medicare-approved amount as payment in full), then you will not be charged for the screenings.

What Kind Of Health Insurance Is Best?

The best type of health insurance really depends on your circumstances. For example, generally healthy individuals with additional cash on hand are often best suited by High Deductible Health Insurance Plans as they can cover the high deductible if in the rare chance they should require considerable health care. The deductible acts as a stop loss against their total risk of expense exposure. Individuals with less cash on hand, and or those with medical conditions that require more frequent trips to the doctor are generally better suited by Managed Health Care systems like Heath Maintenance Organizations or Preferred Provider Organizations with low deductibles and/or co-pays.

Does Whole Life Insurance Ever Really Make Sense?

There are a lot of answers here which are all correct so I will take a little different approach. Asking the question When does Whole Life make sense is really talking about your situation. If you are looking to protect your family while the children are at home, then Whole Life may not be the best solution or if you have a loan such as your mortgage, Whole Life may not makes sense. However, if you are looking for Lifetime Coverage with not only a death benefit guarantee, because I can give you a death benefit guarantee for a lot less, but a guaranteed cash value to use as necessary in the future years. Whole Life is also used in some type of plans for businesses which is required to be fully guaranteed as well.

What Is Viatical Life Insurance?

The viatical concept is the buying of life insurance policies from the terminally ill. The market grew out of the AIDS epidemic in the 1980s. The policy-owner transfers ownership of the policy to an entity which pays cash for the policy. The cash is often useful to help with medical bills which can be large for end of life care. The value of the policy is likely greater than its cash surrender value but less than its death benefit. The entity makes a profit on the difference between the sale price and the death benefit they collect when the insured dies. The viatical market evolved into what is now called life settlements where the policies being sold are no longer just involving the terminally ill but also include seniors who have unwanted life insurance policies and desire to get something more than the cash surrender value for them. The financial crisis and miscalculation of life expectancy within the life settlement business caused the investor frenzy of the time to cool sharply several years ago making the transactions less popular today though still viable under idea conditions.

Does Critical Illness Insurance Cover Arthritis?

Every disability insurance policy has differing definitions and communicates its contractual language in complex clauses or policy provisions. That being said, a general definition is any prolonged illness and/or injury that incapacitates you in your ability to work verifies by a physician constitutes a disability event. Again, make sure you read the policy provisions and have a good understanding before moving forward with your purchase.

Can You Cancel Renters Insurance Any Time?

You can cancel a renters policy at any time. Simply contact the company directly or the broker that sold you the policy and request a cancellation. You will typically be charged with the coverage you used and receive a credit based on the portion of the coverage you paid for and did not use.

Is It Mandatory To Apply For Medicare At 65?

If you are receiving Social Security benefits at age 65, you will be signed up for Medicare Part A and Part B automatically. When you get the packet in the mail, you will have a form that you can use to turn down Part B. At this time you can also opt out of Part A, but it is free and covers very expensive hospitalization costs, so you would be advised to keep it, or have very other good health insurance if you turned it down. If you are not yet receiving Social Security benefits at age 65, it is not mandatory to apply for Medicare Part A or B at that time. However, it is again, advisable to at least get Part A.

Can Life Insurance Companies Access Medical Records?

Yes, life insurance companies access medical records with your permission. Depending on the size of the policy and company requirements, medical records may or may not be required for your policy. When you apply for life insurance, there is a HIPAA (Health Insurance Portability and Accountability Act), which provides permission for the insurance company to obtain and view your medical records. The medical records, along with a prescription check, MVR records, and exam are used to determine your eligibility for life insurance.

What Is Servicemen Group Life Insurance Coverage?

That is a great question! Regular life insurance companies will not insure anyone that is in the military, or in an area where military action is likely. Insurance companies are all about the risk of loss, and being in the military greatly increases that risk. As a result, the federal Government offers life insurance for the members of the military, so that their families can be protected also. That is what Servicemen Group Life is. I hope that helps. Thanks for asking!

Can Life Insurance Be Contested?

Life insurance can be contested, but it is very rare for that to succeed. The beneficiary chosen by the owner of the life insurance policy is who they wanted the money to go to, and the policy is a legal contract. It is very important to keep your beneficiaries up to date so that the death benefit goes to the person(s) of your choice.

How To Find Good Renters Insurance?

The key to finding a good renters policy is to find a good insurance agent. If you dont have a trusted agent, get referrals from friends colleagues or neighbors. A good agent will listen to you, offer sound financial advice and communicate clearly with you and the insurance company. Selecting the limits of the policy is critical. This is where the agent will earn his commission. If you have a loss and the coverage is inadequate, nothing else matters.

What Is Supplemental Long Term Disability Insurance?

A supplemental disability insurance is a personally owned long term disability policy usually purchased to supplement a group employer sponsored long term disability plan. You are basically "supplementing" your existing group plan with a personally owned policy. The reason this is necessary is because most group plans only cover 50- 60% of an employees income. A supplemental policy will provide additional coverage in addition to the group plan. The amount of supplemental disability coverage you can purchase is limited based on the insurance carriers guidelines. This is determined by the amount of your income your group plan covers and weather or not you pay for your group plan or your company does. As a general rule, most carriers won't let you insure more than 70% of your gross annual income.

How Do I Notify Medicare Of A Death?

An employer cannot discriminate against an employee based upon their age (among a multitude of other factors). However, that does not necessarily mean that an older employee who compares what they are contributing towards their employer based health insurance with a younger co-worker of the same coverage level will find themselves paying the same amount. This may initially be perceived by the older employee as though they are being discriminated against but this is almost certainly not the case. If your employer's group health insurance rates are age based rates then there is a different rate for each year of age for a covered employee. The community rating requirements of ObamaCare have pushed many health insurance carriers towards this age rated basis though some health insurance carriers still develop a "composite" rate for a group after quoting them on an age rated basis (composite rates are one rate for every employee with Employee Only, Employee+Spouse, Employee+Child(ren) or Family coverage regardless of the employee's age). This is how things work under community rating. First of all, there can be no more than a 3 to 1 ratio between the rates for the youngest and oldest employees in the group. To keep things simple let's say the monthly rate for a 25 year old is $200 per month then the monthly rate for a 60 year old would be $600 per month. Then let's say that your employer pays 50% of the employee only rate which leaves the other 50% for the employee to pay. Under this scenario the 25 year old's cost would be $100 per month ($200 x 50%) and the 60 year old's share would be $300 per month ($600 x 50%). Even though the dollar amount paid by each employee differs significantly the employer is treating them the same in that the employer is contributing the same percentage amount towards each employee's coverage. Therefore, there is no discrimination. This is one of the effects of ObamaCare that is increasingly being seen by employees as their old health insurance plans and rate structures are being replaced by ObamaCare compliant plans and the new community rating method.

What Is Annuity Kind Of Cash Flow?

In finance, an annuity cash flows are any cash flow that you receive on a consistent basis during a certain period of time. The period of time can be time dependent (i.e. 20 years) or event dependent (the life of an individual).

What Does Home Owners Insurance Usually Cover?

That's kind of a tough question to answer becuase many homeowners policies cover a multitude of things. In general terms if you house catches on fire, is broken into, is damaged by wind hail or lightning, your pipes burst, some body trips and falls on your proprty and gets hurt you could have a claims situation on your homeowners policy. This is just scratching the surface as every policy is different in every state. Most carriers add in a bunch of "extra" coverages too. To truly know what your homeowners policy covers, you need to do two things 1) Call you local independent agent and discuss you policy with them 2) Actually read your policy. I know reading a legal contract is your idea of fun night curled up by the fire, but it is in your best interest to actually read your entire policy, know what it includes and excludes and ask your agent about things you have questions on....

Who Is The Best Auto Insurance Provider?

Because insurance is regulated by each state, there really is not only one answer to that question. Insurance companies are rated online for their financial strength, and customer satisfaction by several independent reporting agencies. My company posts our results on our website here: WEBSITELINK People choose different companies for different reasons, A friendly referral, price, or special features. What is most important to you?

How Accurate Are Online Auto Insurance Quotes?

I use several carriers and also have my own collector car and I have found that American collectors have better coverage and rates in Montana and less strict as far as guidelines and restrictions. Also they have stated value. The claims I have found have been excellent also. Each carrier has their own niche and specialty

Why Annuities Are Poor Investments?

Tax deferred annuities are insurance products with differing crediting methods for a diverse saving and/or investment strategy for a suitable purchaser who demonstrate a high tax bracket and mid to long term hold horizon. This is determined by developing a personal financial profile that includes risk assessment, a retirement date and a life expectancy report.

Can You 1035 From Life Insurance To Annuity?

I have an in ground pool in my own back yard and we absolutely love it. It's great being the house that all my kids' friends want to go to. But, does it increase my insurance premiums? Not necessarily, although it probably should. I'll explain why in just a moment. First, let's look at what an insurance company wants if you do have a pool. The biggest thing they want is a fenced enclosure around the entire pool. They want to be sure that anyone who enters the pool intended to enter the pool. Also to keep animals and small children from wandering into the pool. It's usually not a case of a premium increase, it's a yes or no question. If you do what they want(fence), they'll usually insure you with no increases. If you don't do what they want, they'll just refuse to insure you. Now, why would your premium increase? Because a pool brings more liability along with it. Bad things can happen even if you take precautions. I would recommend liability limits of at least $500,000 and, usually at least a $1,000,000 umbrella policy. Doing this may cost you a little more but it's well worth it. It may be as little as $85/year or it may be a little more depending on your home, cars, and family. Be smart, spend small dollars now to avoid big dollars later.

Will The Cost Of Medicare Go Up In 2014?

The cost of Medicare will almost certainly go up in 2014. The cost of health care is rising, the population is aging and not getting any healthier. In addition, utilization of medical services continues to rise at a staggering rate. Unless Congress yields to political pressure, you should anticipate your Medicare Part A and Part B deductibles to rise along with your Part B premium. The only remaining question is, how much will these costs rise?

Does medicare limit the number of echocardiograms one can have in any given amount of time?

Medicare will cover an echocardiogram if your doctor orders it for diagnostic purposes. An Echo is covered under Medicare Part B. Medicare will pay for about 80% of the costs after the Part B deductible is met ($147 in 2014) - you would be responsible for the other 20% and the Part B deductible. When you first enroll in Medicare Part B, you open your 6-month initial open enrollment period to buy a Medicare supplement plan (a.k.a. Medigap plan) with NO MEDICAL UNDERWRITING!. A Medigap plan can cover the deductibles and a portion or all of the other 20% of expenses covered by Part B and features a number of other big advantages as well. An experienced Medigap broker can help find the Medigap plan and carrier that's most suitable for you and your budget. I hope the information is helpful - please feel free to contact me for help and if you have any other questions. Thanks very much.

How Much Does Medicare Cover For Glasses?

Medicare does not pay for routine eye exams or corrective lenses. But if you have vision issues, such as glaucoma or cataracts, Medicare will cover at least a portion of your treatment. Medicare will pay for some of the cost of eyeglasses following cataract surgery. Your Medicare approved supplier that accepts assignment can tell you how much the Medicare allowance is for your eyewear.

What Is The Primary Purpose Of An Irrevocable Life Insurance Trust?

Disability Insurance is a good idea for most people. Of course, there are those who simply cannot afford it. But for those who can, it is one of the most prudent insurance policies to get. That is because a disability can happen to anyone of any age, and it can happen more than one time. Being disabled can wreak havoc on a family due to the resultant loss of income. Disability insurance helps keep the tragedy manageable.

What Is An HSA Health Insurance Plan?

An HSA is a Health Savings Account. If your employer offers it as a benefit, you should take advantage of it. It allows you to have available for medically related needs, a set limit of pre-taxed money which is typicallyset aside for you through a payroll deduction. Medical needs for which the HSA funds can usually be available are: doctor, visits, physicals, surgery, eye-glasses, prescriptions, etc.

What Is Wrong With Annuities?

The qualifications for Medicare in Rhode Island are the same as in other states, since Medicare is a federally administered health insurance program. Very broadly speaking, you must have contributed to Medicare through taxes for at least 10 years PLUS be 65, be on Social Security Disability for 24 months, have End Stage Renal Disease, or have Lou Gherig's Disease to get on Medicare.

Does Renters Insurance Cover Subletters?

A deductible is the amount of money you must pay before your health insurance benefits begin paying for services that are subject to the deductible. For example, if your deductible is $2,000, you're required to pay the $2,000 deductible for services before the plan benefits "kick in." The deductible may not apply to all services though - some services, for example, may only require a copay or coinsurance amount, varying from plan-to-plan.

Who Is Health Insurance A Contract Between?

It depends upon whether you are asking about an individual or a group health insurance contract. If you have an individual health insurance policy with an insurance company the contract is directly between you and the insurance carrier. If the coverage is through an employer group then the contract is between the employer and the insurance company, the covered employee does not have a direct contract with the insurance company and has a certificate of coverage outlining the coverage they have through their employer's contract but the employee themselves are not the contract holders.

What Is Good Home Insurance?

Most people who are self employed need to pick up an individual policy. This would be considered a self employed health insurance policy. There is no set difference or requirements between a person who is employed and has to pick up his own insurance or a self employed person. There could be a difference as far as tax being deductible since a self employed person will usually file a Schedule C. An HSA qualified plan is a great way to purchase health insurance if you are self employed due to the tax advantages. Ask your tax adviser.

Can I Get On Medicare Before The Age Of 65?

The answer is probably "yes". Medicare is "too big to fail". Working taxpayers paid for Medicare with payroll taxes for years and expect Medicare to be there when they retire. Medicare will survive, but don't expect it to be anything like the current plan. You will pay more in taxes while you are working, higher premiums, deductibles and out of pocket once you are covered by Medicare.

Who Receives A Medicare Summary Notice?

An Accidental Death and Dismemberment policy is a life insurance product. It can come in two different forms. There are term and permanent life insurance policies that offer AD&D as a rider to the life insurance to increase the face amount proceeds in case of accidental death. The dismemberment pays on a schedule depending on the limbs effected. There are also AD&D standalone policies that only cover an accidental death or dismemberment. The plus side of these polices usually require little or no underwriting which gives ill people an opportunity to have some life insurance coverage were as they may not qualify for any other type of life insurance. They are also very affordable premiums. The downside is the odds of dying accidental versus dying from an illness are very very high. This is why they are easy and cheap, because the odds are in the life insurance companies favor not to pay a claim.

How To Buy My Own Health Insurance?

There are numerous reasons to be declined for life insurance. Think of it in terms of gambling. You are placing a small bet, monthly premium, in order to make sure your loved ones have enough money to live at their current means, which is a large payoff at your death. Therefore an underwriter will look at all of the factors to determine your risk of dying within a specified period of time. They look at age, build, medical history, health, lifestyle, residence, occupation, etc. to determine that risk. If they feel any of these factors are too risky you will be declined for life insurance.

Does Homeowners Insurance Cover Firearms?

Most insurance companies will have internal limits of $1000 for property coverage of firearms. If you are speaking about "accidental discharge" of a firearm that causes damage to something or someone I would need you to refer to your specific policy. In NY some companies will specifically exclude bodily injury from a firearm. Hope this answer helps.

When Getting Car Insurance What Information Is Needed?

Great Question. You will need to provide your personal and vehicleinformation such as: Your full name Driver's license number & expiration date. Possibly your social security number depending on what state you live in. date of birth address of where the car is located and mailing address if different vehicle information such as Year, Make, Model, & V.I.N which is a 17 digit number Is the vehicle garaged or not? How is the vehicle used? How many miles are currently on the vehicle and how many miles to you drive on an annual basis? Names of any possible drivers or people living with you along with their personal information if they wish to drive the vehicle. Need to know who your current insurance is with or if you have had coverage in the past You will need to determine how much coverage you need in place and what deductibles you would be comfortable having in place. There are probably a few more questions that you would need to answer prior to binding coverage, but that is a quick list of information you should have handy when you are ready to pursue auto insurance quotations. I hope this helps and have a wondeful day. Best, Josh DeBoer Producer Fred Daniel & Sons, Inc

Who Sells Long Term Care Insurance?

Car insurance can start very quickly. Typically, when you apply for coverage, you provide information regarding yourself and the vehicle that you will be driving. Other family member driving information may need to be provided. An underwriter quickly reviews the information and it's not unusual to be approved the same day...and sometimes, almost immediately.

Will My Homeowners Insurance Cover Mold Damage?

There are hundreds of species of mold common to the United States. Small areas of visible mold that build up on moist areas in a home not only look bad but are also a health risk, the mold may cause allergy like symptoms and/or breathing difficulties. Basic home insurance policies, generally limit coverage for mold or exclude it. It is very easy for mold to grow given suitable conditions in a home that doesn't show pride of ownership; mold claims became so excessive in prior years, the insurance industry chose to limit or exclude coverage rather than raise premium to address the growing claims. Although the standard coverage will vary from State to State as well as vary between insurance carriers, it is important to view your specific insurance policy to find out if there is coverage for mold and what the limit is.In some cases, a carrier will actually allow an extended amount of coveragefor an additional premium. It is best to maintain a clean and moisture free structure to prevent the growth of mold. In homes with a basement, it is important to remove all moisture as quickly as possible following any leaks. The Federal EPA recommends homeowners clean up any area affected by mold which is less than 10 square feet using bleach or a suitable product, any area larger than that should involve a professional.

Why Get Medigap?

A homeowners policy will cover damages caused by fire to the building, and the contents. It will also pay for debris removal. There will be coverage for additional living costs while the structure is being repaired. Other coverages might come into play such as building ordinance coverage, and fire department fee coverage. Recovery will be based on the form that was used for the homeowners policy. It will either be based on replacement cost or the actual cash value of what was damaged. The recovery will also be reduced by the deductible.

What Is A Pension Plan Sponsor?

As an example, under ERISA (Employees Retirement Income Security Account) of 1974, employers can sponsored defined benefit and/or contributions. They usually outsource the money management to a third parties. Some employer sponsors also match some portion of the employee's annual contribution. They're also responsible for the compliance under qualified plan regulations.

Why Is It Important To Plan For Retirement Now?

The longer you plan for retirement, the beterchance you have of being able to retire. You never know what curve balls life is going to throw your way. Putting away money while you can is always the best strategy. Even if you go into retirement with no debt, it can take 70% of your pre-retirement income to maintain the lifestyle you want to lead. Starting now will give you time to reach your goals without having to sweat too much if you get sidetracked along the way.

What Does Renters Insurance Cover In Iowa?

In 2013 the contribution limits for qualified plans like 401(k), 403(b), most 457 plans and the federal governments Thrift Savings Plan are $17,500. The catch-up contribution limit for age 50 and older is $5,500 per year. The limit on annual contributions to a traditional Individual Retirement Accounts (IRA) is $5,500.

Does My Life Insurance Cover Skydiving?

When you applied for the life policy you probably had to indicate if you were involved in skydiving. If at the time that you completed the application you answered that truthfully and the company did not exclude skydiving from your policy, you are probably covered. If there isnt an exclusion for skydiving and the policy is more than two years old, you are probably covered. The statements on an application are representations and must be factually correct to the best of your knowledge.

How To Determine Term Life Insurance Amount?

Many life insurance experts recommend about 6 to 8 times your annual salary for the amount of term life insurance that you may need; however, the figure will depend on your financial needs and goals. You have to factor in that mortgage, education expenses for children...basically whatever your family will need to survive and thrive when you're gone. Of course, since term life insurance is for a specific period of time, you will need to calculate how long you need this certain amount of money as well.

Where To Complain About Home Insurance?

If you have an agent that you trust, start there. Insurance companies respond to complaints and you can usually reach the company by mail, email or in many cases, directly through the company website. The insurance commissioner in your state is also interested in your complaint. My recommendation is to approach the three levels that I mentioned one at a time, giving each sufficient time to respond. If you complain everywhere at once, it can cause a lot of confusion.

What Does Rider Mean In Life Insurance?

A life insurance rider works just like any contract rider. It is an extension to the contract that stipulates an additional obligation by one or both of the parties to the contract. Specifically to life insurance, this would be any benefit made available by the life insurer that is optional to the policy owner to select that is not part of the base policy features.

Is Whole Life Insurance A Good Option?

The answer to any financial question should always be prefaced by "it depends on the need of the individual". That said, there are significant benefits for someone who owns a whole life participating policy. Whole life, a form of permanent life insurance, features guaranteed premiums, death benefits and cash value. Whole life policies also give you the potential to receive dividends which can increase the value of the policy or provide an increased death benefit for beneficiaries. Unlike term, the death benefit will last your entire lifetime and the monthly premium will be locked in at the date of policy inception according to your "rating". So, if you are 35 and get rated "Preferred Non-tobacco" that will give you a monthly premium that will not change for your entire life, regardless of any health issues - as long as your premiums are current. The second important value of whole life insurance is the accumulation of cash inside the policy on a tax-deferred basis. Over time, the cash value increases can be significant and you can borrow cash from your policy at a favorable interest rate. Many people have used this as a source for college funding or even a retirement income stream later in life. These policy loans are generally tax free. There is a lot more to Whole Life policies that can be addressed when considering your personal situation and I would recommend contacting an independent insurance agent that can review your particular needs and situation.

How Do I Get A Life Insurance License In Alabama?

If you have a license in another state, you can apply for a nonresident license in Alabama by using the NIPR (National Insurance Producer Registry). If you are starting your life insurance career in Alabama, you must study for the licensing test, pass it, pay the appropriate fees, and use your life insurance license in Alabama to benefit your life and the lives of others.

When Are Life Insurance Death Benefits Taxable?

Typically, life insurance proceeds are not taxable. They pass on to the beneficiary tax-free and can be deposited into a pre-approved or pre-discussed account. Based on my 32 years of experience handling too many claims, the period of time is about 10-30 days for the check to arrive. In some circumstances, there could be estate taxes. Also, depending on the type of policy and how premiums were paid, there could be a taxable event. A full-time broker or financial planner is your best resource.

Is Disability Insurance Recommended?

Yes, it is highly recommended. Unless you have significant savings set aside for 30 months or so, you may need to consider disability insurance. The average disability can run 30 months. Most working Americans have 90 days in cash reserves. Is it important to have a paycheck coming in? Disability insurance is paycheck protection.

Does Great West Life Cover Travel Insurance?

The greatwestlife.com website says this about Travel Insurance: "Our Global Medical Assistance group plan enhancement to your group healthcare plan is designed to provide worldwide assistance to travellers in emergency medical situations, wherever and whenever the need arises." It states that coverage is up to $1,000,000 per covered trip and that they rate the trip on a scale of 1-6, with the option to cover trips that last up to 30 days. Visit their website for more accurate information and to contact Great-West Life.

What Are The Benefits Of Medigap?

Beginning in 2014 the PPACA, better known as the Presidents signature legislation, Obamacare goes into effect. Obamacare is a mandatory health insurance regulation that every American is legally bound to purchase, if they qualify under income means testing. If they elect not to participate, then the IRA will levy a penalty which the Supreme Court defines as a tax.

When To Buy Life Insurance For Child?

As soon as a child is a few weeks old, insurance companies can write life insurance on them. That is actually the best time to purchase it. It is the very least expensive it will ever be and you can lock in that rate for the rest of the child's life, all the while accumulating value which can be borrowed against or used in later years for retirement, with a permanent policy. Thank you. GARY LANE.

Can I Have Private Insurance And Medicare?

Yes, people who have Medicare part A & B can also have a Medigap Plan (or Medicare Supplement Insurance). A Medigap Plan covers what original Medicare Part A & B does not such as co-insurance, deductibles and co-pays. These plans are offered through private insurance companies. The best way to compare Medigap Plans is to contact an independent agent that can you show you quotes from all the major private insurance carriers.

Does Homeowners Insurance Cover Dog Bites To Other Dogs?

Dog bites would be covered under the liability portion of your homeowners policy. Dog bites have become a big deal over the last several years and dog bite can be a very expensive loss in some cases. For this reason many insurance companies have put exclusions on certain breeds of dogs and will not cover a dog bite. You would need to check with your specific insurance company to see if your breed of dog is covered should a dog bit occur. All agents should be having this discussion with the client before purchasing a policy.

How Is Home Insurance Calculated?

Among the many factors typically used to determine homeowner insurance rates, here are a few of the key ones: Type of Construction, Age of Dwelling & Condition of Dwelling - Ex: Is the construction type 'fire resistant' rather than wood frame? Has the building been well cared-for? Claims Submission History - Ex: Does the prospect have a history of submitting claims on a frequent basis...especially smaller ones? Dwelling Location - Fire station proximity; History of frequent and /or severe losses in the area from wild fires, hurricanes, etc. Credit History - Credit score - Prevailing underwriting theory is that better credit scores equate to less possibility of frequent claim submissions. Additional Risk Factors - Swimming pools, with or without child safety devices; Questionable types of animals in terms of temperment, as relates to possible attacks on humans; Recreation equipment on premises - safety devices?

Will Annuity Rates Go Up?

When the cause of the power surge is outside the residence, damage caused by that power surge is excluded from coverage in most homeowners policies. Most policies specifically exclude damage to tubes, transistors or similar electronic component. If the type of damage you have experienced is different, please contact your agent.

How Much Does Renters Insurance Cost In Massachusetts?

They are best know for guaranteed issue policies I believe. These would be for very small face amounts, with no medical exam. If you want a larger policy, such as $250,000, you might contact a company like New York Life, which would normally require a medical exam but regularly issue large face amount policies, both term and whole life. Gary Lane, Registered Representative, New York Life. 949 797 2424. Thank you.

Does Health Insurance Cover Glaucoma?

Glaucoma is a serious illness that can lead to permanent blindness if not treated. Glaucoma is easily treated in most patients and can be controlled with prescription eye drops. In some cases glaucoma cannot be successfully treated with eye drops and surgery is required. Either conventional blade surgery or laser surgery may be needed to treat the condition. Most major medical health insurance plans will cover glaucoma treatment.

When Do I Need Commercial Auto Insurance?

This is just to help flesh out the above answer. The two basic thresholds for getting a commercial auto policy. 1. You have a type of legal business entity in place (e.g. Corporation, S-Corp, Partnership, LLC) and you want there to be a company car; OR 2. You are doing business as an individual and you have five or more automobiles associated with the business. While that is easy, it gets more difficult if you do not own the company, but are merely and employee or agent and you are using your personal automobile for business purposes. The business will have to add an endorsement to its Commercial Auto Policy to cover other owned vehicles, so you have coverage. However, the limits associated with liability on your companies Auto Policy might not be high enough to cover you in a serious accident. Here is where you will have to coordinate your personal auto liability coverage with your companies liability in order to make sure you are adequately covered. Hope this helps.

Does Health Insurance Cover Skin Removal Surgery?

It will depend upon your medical situation; 1) No Scenario (the most likely) - the skin removal is for cosmetic purposes. This is generally understood to extend to persons who have meaningful weight loss that leaves them with excess skin. So, you may have done the right thing by losing a lot of weight but you may have to reconcile yourself to living longer with a flabbier body or privately pay for cosmetic surgery. 2) Yes Scenario (uncommon but not rare) - where medically necessary criteria are met. There are circumstances where there can be recurring health problems caused by skin overhang (yeast infections, sores and rashes, infections, etc.) that can be remedied or mitigated by removing the overhanging skin, a Panniculectomy. This is not the same procedure as what is commonly referred to as a "tummy tuck." The Punniculectomy only removes the overhanging skin and does not address the stretching of abdominal muscle that can also occur and which is commonly addressed in the "tummy tuck" procedure. As such, depending upon the terms of your policy and how a claim is coded I can foresee the situation where both procedures are performed (if the doctors went on and did the more invasive abdominal muscle procedures while "they were in there" and this was done with your prior consent or request) and part of the procedureis covered by the policy and the other part being deemed for cosmetic purposesand not being covered.

How Do I Transfer My Insurance To Another Car?

This one's pretty simple if you have a good agent with a well trained staff. Simply call them up and tell them you're replacing a car. To make sure they have everything they need have this information: Year, make and model of new car Full 17 digit VIN When you got your new car When you got rid of your old car Talk about the coverage you want: Comp & Collision? Deductibles Anything special added to the car If it's financed or leased, they'll need to know the name, address, and loan or lease number of the finance or leasing company How you'd like to receive your certificate of insurance Also at this time, it might be a good idea to ask what the premiums will be so you can budget for it. If you haven't sold your old car yet, don't take the coverage off it. This is important. If you let someone test drive your car and they get in an accident or hurt someone, you want to be sure your covered. The premium you'll pay for that short period of time is worth it.

Is Car Insurance Prepaid?

Yes, automobile insurance is typically paid in advance. Normally no less than thirty days at a time. Each carrier sets their own requirements as to the initial payment amount for new coverage. Most carriers allow clients to pay monthly, quarterly, semi-annually, or annually. If you pay your premium in full for semi-annual or annual you may also receive a discount on your rate ( this is solely at the discretion of the carrier ).

Which Company Offers The Best Renters Insurance?

To find the best renters insurance policy for you, I would suggest that you talk with your friends and family about their experiences and knowledge of the carriers in your area that handle renters insurance. Insurance policies are as unique as the people that purchase them. Your best bet is to find yourself a good local agent and they will help provide you with the information that you need to make an informed decision.

How Is AD&D Different From Life Insurance?

Life insurance pays the face amount of the policy to the beneficiary named in the policy. The policy does not pay the benefit until the insured person dies. Health insurance is used by the insured person while they are still alive, to pay for their medical care, both to prevent illness and to treat it.

Does Life Insurance Go To Estate?

If you choose the beneficiary of your life insurance policy to be your estate, or if none of your beneficiaries are alive when you pass, your life insurance proceeds will go to your estate. Other than those circumstances, your policy proceeds go to the person or other entity that you chose to be your beneficiary, bypassing your estate. This allows the benefit to not be tied up in probate and avoids unnecessary fees. However, the value of your life insurance is considered part of your estate value. If the total value of your estate is over the federal or state exempted amount, and if your spouse has passed, estate taxes on the excess may apply.

Who Owns Southwestern Life?

In order to drive a vehicle in many States, the law requires a licensed driver to be insured! If the driver does not own a vehicle, a policy form is available by the name of 'Named Non-Owner' Insurance; this insurance provides liability and optional uninsured motorist coverage for the named insured driving a vehicle not titled in his/her name. If you have a Named Non-Owner Insurance policy, the carrier upon request will issue an SR-22 endorsement to the Governing State Department of Motor Vehicles. In the event that the insurance is cancelled, an SR-26 cancellation form is issued and sent to the Governing Department in order to confirm cancellation of the insurance thus cancelling the SR-22. If one does not desire to purchase the insurance and is merely attempting to get a Form SR-22 issued, there is no method to do so without keeping active insurance for the term that the SR-22 is required. The SR-22 is simply a reporting form confirming continuous coverage. Many States now require electronic reporting between insurance carriers and the State Department of Motor Vehicles.

Why Is Life Insurance So Cheap?

Term life insurance is cheap because it only pays out if death occurs during that period of time. The lower the age, the lower the actuarial risk of passing away, the lower the price. To get a policy that will be assured to be there to the end of life, the premium may be reasonable, but not necessarily "cheap". Knowing it will be there for your loved ones at the time of need can definitely make it worth the cost. That is not to say there is not a need for cheap term life insurance. Thankfully, both Term and Permanent policies are available so that coverage is available and affordable for nearly anyone who wants it.

Does QDRO Apply To Life Insurance?

QDRO or a Qualified Domestic Relations Order comes through the courts in a divorce case. This order typically deals with divorce settlements concerning finances and retirement plans such as IRAs, Roth IRAs, 401Ks, 403bs and cash value life insurance plans. If you or your ex spouse owns cash value life insurance, then yes, the cash value is included in QDRO calculations. In most cases, term life insurance plans are not included in these calculations because there is no value unless a death occurs. You or your ex spouse can also be court ordered to carry a term life policy to cover alimony and or child support in case of an early death.

What Kind Of Life Insurance Should I Buy?

There are many choices of life insurance available to you. The main stream life insurance products are term life, universal life, variable life and whole life. Each one has a specific purpose. Term life insurance is meant to coverage a specific period of time. The common terms are 1-5-10-15-20-25-30-35 years. This means the rate or premium you purchase is guaranteed level for that period of time regardless of change in health, life style or occupation. Term life is commonly used for younger people starting out in life, covering a large debt, life a mortgage on a home or business debt, or covering for a young child's education. term life insurance allows for the largest face amount for the smallest premium payments. Universal life and variable life are permanent life insurance solutions that build cash value. Typically the premiums are more expensive and the face amounts are less because part of the premium is going into a cash value fund that can be invested with numerous options. The cash value can later be used for retirement, college funds, critical or chronic illness or even to purchase a large asset like a home. The universal and variable options are typically more aggressive with the cash value funds. The last option, whole life insurance, is very similar to the previous universal life insurance options. However, the cash value funds are typically a fixed percentage of growth. Whole life as it's name suggests is primarily meant to cover you for your entire life. I recommend using an experienced independent life insurance broker with numerous carriers to shop the market and find you the best product at the best price for your unique situation. Good luck.

How Long Does A DUI Affect Life Insurance?

This will vary from carrier to carrier. It will also depend on the number of DUI's you've had and your age. Younger people (especially those in their 20's) are effected the most by a DUI on their driving record. For most carriers, one DUI will keep you at their standard risk class for at least 3 years since the incident.

Will Homeowners Insurance Cover Pool?

In short, the answer is yes. But it needs to be clarified whether you are asking for property damage to the pool itself or liability coverage. Both would be covered barring any specific pool exclusions, which I am not aware of any in the standard market. If someone were to get injured while swimming in the pool, yes, your homeowners policy should cover you for liability. Likewise, if you pool is damaged due to the standard homeowners causes of loss less any standard exclusions then the pool would be covered for property damage to the pool itself. Keep in mind that wear and tear would not be covered under your policy. So if your pool liner rips "just because" or the concrete foundation cracks, those would be considered wear and tear. Please note that many insurance carriers are very cautious when writing homeowners insurance on homes that have pools. Some do not like to write them with a pool exposure, some do not mind, so be sure to ask your agent how it might affect your current coverage and future coverage and what the premium impact might be. You also want to strongly consider higher liability limits in purchasing an umbrella or if you already have an umbrella policy then higher umbrella limits. It might cost you $150 for each additional $1 mil limit. Lastly, if you have a pool and want to make sure you are covered for the proper limits, make sure your coverage B (other structures) limit is sufficient to cover any losses to your pool and any other structures i.e. detached garages, sheds as well.

How To Sign Up For Medicare Online?

The rules of medicare requires the insurance agent to verify you are who you say you are and they must certify that they have interviewed you in a face to face conversation and the agent has to "recertify" every year in order to sell medicare advantage and the agent is accountable to assure if you have a "personal representative" or a "power of attorney" that person has to be present. The agent is also accountable to give you a "summary of benefits" and to assure you understand the type of policy you are purchasing and the coverages. The insurance agent must licensed to sell insurance for the State in which you reside

Does Homeowners Insurance Cover Foundation Issues?

Unless the issue is caused by a covered peril your homeowners insurance would not pay for any of the repairs to correct the foundation issues. A foundation issue is typically considered a maintainance issue. Please read your policy completely to know what is covered and what exclusions there may be or contact your local agent to have them go over the policy with you.

What Is Allianz Life Insurance?

Allianz Life Insurance Company of North America is a major player in life insurance and annuities in the U.S. and globally. Rating services: S&P AA, Moodys A and insurance industry A.M. Best A. Allianz is over 115 years old with over 112 billion in assets with a conservative long term investment posture in their portfolio.

Does Renters Insurance Cover Foreclosure?

Renters nor any other property insurance is designed to insurance against a foreclosure. I have to assume since you arereferencinga renters policy that you are the tenant and your landlord is beingforeclosedon forcing you to move out.Unfortunatelyform an insurance standpoint there is nothing that can be done and you will have to startshoppingfor a new home. Yourrenterspolicy can betransferredto your new address. I would further discussthesituation with your local agent.

When Are Life Insurance Proceeds Taxed?

In most cases, life insurance proceeds, the death benefit, are received income tax free by the beneficiary in most cases. This is a key feature of life insurance. Common exceptions include business-owned life insurance issued, or materially modified, after August 17, 2006 which may be taxable unless specific steps are taken during time of application and annually thereafter to meet conditions which allow the proceeds to be income tax-free. Another exception is a tax trap where life insurance contracts with three parties involved may also have unexpected taxable implications.

Is Whole Life Insurance Bad?

The death rate is 100%. The question then is, when will it occur? Term insurance will provide coverage for a limited period to time. Whole life insurance will provide the same coverage for the lifetime of the insured. Unless you die within the period of coverage of the term policy, the whole life policy will always be a superior buy. Unlike the term policy, the whole life policy premium remains constant and the policy develops cash values that can be used for other purposes. The whole life policy doesnt increase in cost just at the time that you need it.

What Happens If I Cancel A Life Insurance Policy?

If you cancel a life insurance policy, first and foremost, the policy will not pay a death benefit to your beneficiary if/when you pass away. If the policy is Term insurance, there is no cash value to collect and no surrender charge to pay, no matter when you took out your policy. However, if you took it out within the year, your agent may lose all their commission from that sale and could be penalized by the insurance company. With Whole or Universal Life, there will be a surrender charge that reduces the cash value you would collect upon cancelling your policy. However, you may be able to roll your full cash value over into a new policy. Or you may have the option to change your policy to a reduced paid-up policy, in which you get to keep some death protection even though you are no longer paying a premium. Discuss your options with your agent; you may be surprised at the options you have.

How To Get The Best Deal On Auto Insurance?

Auto insurance rates vary per state and per company because they all have their own underwriting guidelines and rules. However, if you want to make sure that you are getting the best rate you need to NEVER have a lapse in coverage, keep your credit score up, have zero tickets, zero accidents, and always carry $100,000/$300,000 or higher liability limits.

When You Quit Your Job Does Health Insurance Stop?

Your employer health insurance plan can stop at any time after you quit your job. It depends on how the plan summary is written. Some plan benefits cease the last day you work. Others continue through the end of the month and some continue for 30 - 90 days. If you exercise your COBRA options you can keep your group plan for up to 18 months in most situations.

How Many Years Of Long Term Care Insurance Do I Need?

Many factors affect the premium for your homeowners insurance coverage. Some these factors are: geographic location, reconstruction valuation of the home, number and dollar amount of homeowners claims that you have experience over the last five years, distance to the nearest fire department, distance to nearest fire hydrant, and many more.

Does Health Insurance Affect The Employment Of Older Workers?

You will receive a final letter when the claim is finally closed. What it sounds like is you carried low limits of liability and property damage and didn't have enough insurance to cover all the damages you are responsible for. At this point Geico will pay out to your limit and the other parties polices should pick up the gap under their under-insured motorist. (if the other parties had uninsured motorist coverage) It is possible the other parties insurance companies may come back after you personally for the gap or they may just write it off. Or if the other parties did not have coverage under their own insurance they could also come back after you as well. You will have to wait and see. Usually in these situations it takes a little while to figure out who is paying who so give it time. You will be notified.

What To Look For When Purchasing Health Insurance?

When purchasing health insurance, it's important to work with an experienced broker (and our websites) so that you know you are only comparing top-rated carriers. Also, the accurate calculation of your federal subsidy is critical, so that you are receiving all of the available federal credits offered by Obamacare. And of course, the premium and benefits should closely align with your budget and healthcare needs.

What Is Medicare Fee For Service Contractor?

Medicare is a fee for service program. A doctor or hospital can agree to accept Medicare patients and thus contract with Medicare to accept the rules and conditions imposed by Medicare, or they can opt out of the Medicare program, in which case a medicare patient would be responsible for payment if they go to that doctor or the doctor can simply refuse Medicare patients. The same is true for hospitals or other facilities.

When Can You Cash Out On Life Insurance?

Good question, there are different situations that will allow you to get cash on a life insurance policy. One situation in particular is with a whole life policy. Since it builds cash value as it grows older, you can borrow money from it when you need it.

Will Medicare Pay For Any Dental Work?

If the permanent life insurance policy has accumulated cash values you can borrow a majority of the funds available. There are interest charges to borrow money from your policy. The are many policy loan interest charging methods like zero net cost loans, wash loans, spread loans, direct recognition loans and participating loans.

How To Cancel Scotia Life Insurance?

To cancel Scotia Life Insurance or any other life insurance policy, the best way to cancel it is to call, email, or write the company to inform them that you are cancelling it. Their website lists their life insurance contact number as 800-387-9844. However, if you are unable to reach them, you can simply quit paying your premium and the policy will lapse by itself after one month of unpaid premium.

Does HIPPA Apply To Life Insurance Companies?

Legally, life insurance companies to not have to adhere to HIPPA. However, most life insurance companies utilize an application that includes a HIPAA form that must be signed so that the life insurance companies can access your medical information and complete their underwriting process.

Can You Claim Medicare And Private Health?

You can have Medicare and private health insurance, depending on the type of other insurance you have. You can have Medicare and a cancer plan, or hospital indemnity plan, or other ancillary form of coverage. You can have Medicare and employer group health insurance, or retiree group health. Consult an adviser.