imsumit18/insurance_training_data huggingface dataset:
Ask a life insurance professional! There is no substitute for an experienced life insurance professional who can help you plan to have the right amount based on need and budget and can adjust the plan over time to meet changing needs. Most studies suggest many have no life insurance at all and, of those who do, many are underinsured. We often meet with clients who have less than their current annual income. Insurance companies generally approve coverage amounts up to 25X income or more (under age 45). There are many calculators online which can help such as this one: WEBSITELINK Calculators like these help prepare you for meeting with a life insurance professional.
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.
Endowment plans are designed to really push the cash accumulation inside your policy. Why would you want to do that? I mean after all, the purpose of life insurance is to provide the survivor benefit you need, when it is needed, for the best price available. Each dollar of benefit literally costs pennies. It is a great deal. So how does cash fit into this picture? It can be superb icing on the cake. Solid whole life products provide great guarantees on the cash accumulation. Solid whole life companies provide some hefty dividends on a non-guaranteed basics. Universal life can provide not only attractive cash accumulation, but some pretty interesting distribution options. And according to current tax law, all this money can be available with little or no taxation. (Ask your attorney if you dont believe me). BUT certain rules have to be followed if you want to keep Uncle Sam out of the picture. An endowment contract could very well trigger a taxable event. When a policy endows, it could exceed the threshold of growth that the government authorities allow before they tax you. A pretty good sign this has occurred is when the cash value equals the death benefit. Is this necessarily bad? It doesnt have to be. If you get the proper advice from your broker and your tax advisor, this could be a planned event in which you still benefit. Even considering the tax you will have to pay, you could still be way ahead of the game financially. However, if you really want to avoid a taxable event, your insurance company will help you. They really dont want to be sued by you or anybody else who mistakenly gets a tax bill you dont want to pay. They will give you illustrations to your hearts delight with all kinds of red flags screaming endowment! endowment! endowment! You can then plan accordingly. To endow, or not to endow. That is the question :)
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
Medicare is a taxpayer financed, government run health insurance program mostly for those age 65 and older. If you qualify for Social Security disability you can also qualify for Medicare. Medicaid is a taxpayer financed, government run health insurance program for low income people. Some qualify under dual rules for Medicare and Medicaid.
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!
I believe that it is. The people that believe that insurance is not worth it's cost have never experienced a major loss those that have experienced a major loss will more than likely tell you that insurance coverage is worth every penny. The question to ask yourself is "Are you financial secure enough to handle any and all losses or liability claims presented to you or your family?". If the answer is no then you should have insurance.
here is a good chance you will. Lets cover some of the what ifs: What if you need to maximize your pension distribution by taking it out during your lifetime only? Life insurance will help you cover your spouse. What if you have any remaining debts, such as a second mortgage? Or if you have any dependents, such as a child who still need some financial assistance? Life insurance would protect them. What if you want a really strong guaranteed portion of your asset portfolio? The guarantees in life insurance cash value contracts are very competitive. What if your net worth is high and you want to preserve your estate from federal and state taxation? Life insurance would allow you to protect your assets and still pay the government. What if you have formed very strong ties with a charity, and would like to support it as a legacy? Life insurance can turn a comparatively small premium into a very substantial gift for them. Its kind of surprising, isnt it, about how our need for life insurance can basically last our entire life!
Disability insurance depends on a number of factors. The cost (your premium) is based on a number of factors - the most important being your medical history, your job, and your income - and the policies are very customizable. This is a very important type of coverage to have that many don't think about. It protects one of your greatest assets - your ability to work.If you can't work because of an injury or illness, how do you provide income for you and your family. The answer? Your disability insurance. When you're buying a disability policy, the MOST important factor in the policy structure is the DEFINITION OF DISABILITY .Each policy will use 1 of the 3 definitions: 1) True Own Occupation - this says you are considered totally disabled if, solely due to injury or sickness, you are not able to perform the material and substantial duties of your occupation, even if you are at work in another occupation. In short, this is the most favorable definition you can have. 2) Modified Own Occupation - this says that you are considered totally disabled if, solely due to injury or sickness, you are not able to perform the material and substantial duties of your occupation. This one is commonly seen in many individual disability insurance policies. 3) Gainful Occupation - this says if you are unable to perform the duties of your occupation or any occupation for which you are qualified for by education, training, or experience due to sickness or injury. In short, this is the least favorable definition. This one is commonly seen in group disability insurance policies through an employer and property and casualty insurers that offer disability coverage. There are many moving parts to disability insurance and is not something I would suggest trying to buy on your own - this is a type of coverage you should consult with an experienced independent disability insurance broker about. I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions. Thanks very much.