imsumit18/insurance_training_data huggingface dataset:
The damage caused as the result of a leaky roof is probably covered. The damage to the roof would be covered if caused by a named peril. If the roof leak is covered it will be covered as a depreciated item by most insurance companies, rather than replacement. It is important to stop the leak as quickly as possible regardless of whether there is coverage or not. The damage to a house by water can be quite severe.
Medicare Hospice is a benefit for those who are terminally ill. Medicare will pay for nearly all the expenses to care for someone at home when they have given up treatment for the illness causing their pending death. Medicare will pay for some medications and treatments that provide comfort.
Mandated insurance starts October 1st 2013 when Exchanges begin to operate.Insurance policies purchase on the exchange wont be effective until January 2014.Most or all Health Insurance Companies are already selling plans that meet parts of the mandate that is already in effect. Large business part of the mandate will have another to implement 2014.
The best time to get coverage is obviously the day before we die! Now, since most of us don't know when that is or will be, the best decision you can make is to get coverage if you have responsibilities to others. Whether it be for a loan repayment or college education and money for a spouse, make sure this is something you do NOT put off.
Yes, you can have both Medicare and VA Benefits. One plan will be a secondary payer. Since the Veterans Administration benefits must be used at VA facilities, usually Medicare is secondary to the VA insurance. However, sometimes VA drug benefits are a good supplemental plan to Medicare, and thus becomes the secondary payer.
Looks like David has covered the question pretty thoroughly so I'll just give the short answer. When you withdraw from your 401K early - that is before reaching age 55, you will be taxed on the entire amount. Then you will be penalized ten percent of the pre taxed amount. On top of that you may also have a percentage withheld for income tax for the year of withdrawal.
Is Northwestern Mutual whole Life a good investment? Well it depends on your needs. Your needs are what make any choice a good or bad investment. First Northwestern Mutual is a very highly rated fiscally strong company, as many others are. Using Whole life as an investment does work as part of an overall investment strategy as it provides a safe place to accumulate money as well as protecting your other plans. What you will find is whole life insurance is the most boring investment product out there. It's not exciting, it's not racy, it's not an up and down product. It is a slow safe and secure place to put money out there. It's boring because it does what it says it will do. I have owned whole life for almost 30 years and it has never let me down. Can't say the same about my real estate or stock market investments during that same window of time. Oh, last thing to keep it short. Whole life cash values don't go backwards. You can't lose it once it's there.
Asking how much life insurance cost is like asking a realtor how much a house costs. Could be $30,000 or $30 million it depends on what you want. The factors that an agent or life insurance company would need to begin the quoting process is type of policy,how much face amount, for how long, age, build, state of residence, tobacco use andgeneral health status. From there an agent or broker can get fairly close to a premium quote but understand the underwriters have the final say on your unique premium.
Qualified Annuities are taxed as ordinary earned income. But they are only taxable upon withdrawal of funds. A "Qualified" account means that the funds were contributed on a pre-tax basis. This can be a significant advantage when accumulating assets. But for the IRS to allow this advantage, they require that the full amount be subject to income tax instead of capitol gains taxes. It is also important to know that at age 70 1/2, they require you to start "Required minimum Distributions". This is a requirement that you withdraw a certain amount per year (and pay taxes on it) from age 70 1/2, for the rest of your life.
Insurers dont usually drop a customer for no reason. Claim activity and payment issues may often result in a termination notice but there can be a number of other reasons. If you have other insurance with that company or agent, I might try to appeal that decision. There may be a reasonable explanation for adverse claim experience or money problems. If you can assure the company or agent an unfavorable pattern most likely will not continue, they may reverse their position and continue providing coverage. Assuming larger deductibles or paying premiums up front with a credit card may also work in your favor. If that doesnt work, independent agents usually represent more than one other company. They may be able to simply place your coverage with another company but make sure you pay close attention to the questions on a new companys application. I suggest it is normally a good idea to combine your insurance with one company or agent when possible. That may make you more important to them than if you only have a single policy. Premium leverage can often work to your advantage. Although I hesitate to use them, a number of insurers claim to specialize in replacing cancelled insurance. Often they charge more, may limit the scope of coverage and be more difficult to work with should a claim occur. Proceed with care in this direction. Many states offer assigned risk pools or similar facilities that accept insurance from residents who are unable to obtain insurance through normal channels. In certain situations these alternatives may be worth considering. I would not consider this alternative a long-term solution. If this becomes your only viable alternative, make an effort to reenter the standard insurance marketplace as soon as you can.
The VA does not offer Disability Insurance. However, the Veterans Administration does pay monetary benefits to veterans who have disabilities that were caused or aggravated during active military service. The disability is rated on a scale of 1 to 10 and the compensation is adjusted according to the degree of disability.
If you mean can creditors, rather than debtors, take life insurance proceeds upon the death of the insured, they generally cannot as long as the beneficiary of the policy is a person. If the beneficiary is the estate, creditors can go after the estate for payment of past debts on the part of the insured.
Most people will receive Medicare Part A at no charge. If you have worked in the Social Security system at least 40 quarters you have prepaid for your Part A coverage. Part B is optional (but highly recommended) and current runs $105 per month for most people. Your Part B premium is usually deducted from your Social Security check.
Your insurance needs do not disappear at retirement although the coverage amounts may change. Car Insurance, home owners insurance, health insurance and life insurance all play a part in a solid financial plan. You should contact an Agent and have them conduct an Insurance preview. The last thing you want in retirement is to be paying for something that you really don't need to.
Before you start shopping for short term disability insurance, find out if your employer sponsored group plan offers it. Many of these types of plans offer short term disability insurance as part of the overall employee benefits.But if you have to shop, start online with brokerage outlets that specialize or have complete departments dedicated to disability insurance. Most of these firms have access to a wide range of carriers that can spread sheet the players in disability insurance.
A single person has debt and financial obligations and someone has to pay when they die. You will not leave a load of debt on loved once to pay. It better to die in dignity. Get life insurance. How will you expect your remain to be disposed of if you have no life insurance.
If the policy was obtained legally (i.e. the applicant did not lie or omit facts about past drug use) and was not a result of suicide during the first two years of the policy, the life insurance policy will most likely pay for death due to drug overdose.
You can apply online for Medicare Part B. You can accomplish this in different ways. You can go directly to the Social Security website and complete the short online paperwork. You can also go (in person) to a Social Security office in your area. Typically, it should not be far away. You can also call (800) 772-1213. And of course, working with an experienced broker with the help of a reputable website will also make the process much easier. Don't worry. Brokers don't charge fees.
Split dollar arrangements can vary between a corporation and it's key executives, the grantor of an estate and it's associated irrecoverable life insurance trust or two parties that share an insurable interest. It is a sharing arrangement between two entities of death benefit and cash values of a life insurance policy.
Every state is a bit different however In Colorado, where I am located, car insurance is mandatory for all drivers. Auto insurance is enforced by the Colorado Department of Regulatory Agencies which is part of the Department of Insurance. Colorado was a no-fault state until 2003, when they changed the regulations to what is referrd to as TORT meaning fault has to be established first before claims will be paid.
If the burst pipe was caused by a maintenance issuethere is a good possibility that a claim would not be covered by your homeonwers policy and even if the claim is covered you may still be subject to the policy's deductible. When you own a home maintenance of that home is something that can be quite challenging but needs to be done in order to prevent non-covered incidents from occuring.
No life insurance does not presently affect FAFSA, neither death benefits in place nor cash values held in either whole or universal life insurance. These values are not included in the FAFSA calculation for expected family contribution.
Medicare Part B covers the doctor services, outpatient hospital services, medical services and supplies. There is a monthly cost charged to the Social Security check received. There is a deductible and 20% copayments if incurred. In addition you pay all costs for services and supplies not covered by Medicare.
Short-term Disability does work if you have a qualifying disability. When you are applying for short or long-term disability, you need to look at the definition of disability and occupation. Not all companies have the same definition. If the definition is vague, you may find yourself being denied on your claim or receiving a "lesser" amount then what you have applied for.
First be sure you have a cash value life insurance policy. For example a whole life, universal life, indexed universal life or variable life, but not a term life which has no cash value. Locate in your policy the illustrations page. Depending on the years of accumulation you will see the cash value of the policy. You may "borrow" against the cash value at a very low interest rate and keep your coverage in force. Or you may cancel your coverage and receive the full cash value amount which is income tax free in most cases. Simply, call the insurance company and ask for the proper form to be sent to you in order to execute the transaction. However, before doing the later, be sure to have alternative coverage in place unless you are fortunate enough not to have a need for life insurance in the future.
Anyone who needs life insurance that will last until death at any age needs Whole Life Insurance or Universal Life Insurance with a no lapse guarantee. Without that, the policy might end just before it is needed, and then the possibility of getting a new life insurance policy might not exist. I.e. if you want life insurance to cover final expense, or to pass an estate to someone else, a permanent policy is needed.
ROP stands for Return of Premium in life insurance. It generally refers to term life insurance where you get back all the premiums you paid in if you keep the policy until the end of the term. After about half the term has passed, a portion of the premiums may be returned if the policy is dropped early. ROP policies usually cost substantially more than regular term policies. Unlike regular term, longer terms in ROP term usually cost less than the shorter terms, because the insurance company is able to hold onto the premiums longer before returning them.
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.
The lowest price auto insurance coverage that I am aware of that you can purchase would be liability only coverage. This typically includes bodily injury, physical damage, and property damage. Some states may also require that you purchase a minimum amount of uninsured and under-insured motorist besides the liability coverages mentioned previously.
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.
The flu vaccine is covered and is treated as preventive care. Preventive care should be covered at 100% since the passage of the health care reform. Please be sure to inform the pharmacy about this benefit as there is currently a lot of confusion and people are paying out of pocket.
Product suitability is always a consideration when considering product lines that have such diverse application. Life insurance is generally purchased for indemnification or inheritance planning, but can be used as supplemental retirement income. Term life insurance is an excellent for temporary coverage for temporary financial exposure to your beneficiaries. For permanent liabilities, many planners use guaranteed universal life insurance. For supplemental retirement income there are several crediting methods: for interest rate crediting you can use participating whole life or current assumption universal life. If you desire access to domestic and/or foreign indices, you should review indexed universal life insurance. If your risk tolerance permits, you could consider variable universal life with access to separate sub accounts that use marker equities and bond instruments.
If the garage is part of the premise that you rent, you may coverage through your renters policy. Your personal property is covered up to a dollar amount specified within the policies limits. Please read your policy completely to understand what coverage is provided and exclutions that there may be.
The answer to that depends on whether or not you own your car outright. If you are making payments to purchase or lease your vehicle than an insurance payout will most likely go directly to the repair facility. If you own your vehicle than you have the right to do whatever you wish with the money you receive from the auto insurance payout. That being said, it is strongly recommended to ensure your vehilce is safe to operate (For the benefit of you and yourpassengers as well as others on the road too). Joel Guilbert Liberty Mutual Insurance 4806857309
If the creditor is going after life insurance proceeds that have been left to the insured person's estate, and is doing so to pay off bills left by the deceased, then the creditor can claim life insurance benefits during probate. If the beneficiary of the life insurance policy is a person, then creditors cannot take the death benefit away from the beneficiary. There may be some exceptions, such as if the beneficiary was a co-signer to the debt.
This is one of the great conundrums of investing and saving for retirement. The menu selection is too big and can't be adequately understood with such an inventory of investment options. The majority of advisers have a difficult time keeping monitoring and track of all the available product lines.
I would have to say no. Every auto insurance carrier that I am aware of requires a drivers license number of all drivers that are to be covered by a policy. For a carrier to take on a risk that does not have a drivers license and is not getting insurance to have their license re-instated would possibly be a very unprofitable thing for the company to do.
The general rule of thumb for long term disability is to age 65. However there are disability insurance companies that offer longer or extended coverage. Then theres Lloyds of London, a company the prices risk outside the convention insurance market, in this case disability for high risk insureds or older insureds.
By "Full Coverage" I am assuming you mean, does carrying Comprehensive and Collision coverage cover repairs? If you have a covered claim i.e. -an accident, hit a deer, backed into your wife's car like I did the other week - then yes, carrying Comprehensive and Collision coverage would pay to fix those covered damages subject to your poilcy deductible. If you are experiencing general vehicle issues, i.e. - motor running roof, transmission mission or other general wear and tear - no, your insurance coverage would not come into play in these cases. Insurance only comes into play to repair a vehilce when there is a covered claim.
A company doesn't have to offer a retirement plan. But employee recruitment and retention depends on the additional benefits offered. Many employers today try to offer defined contribution qualified plans like 401(k)s as an inducement to hire on and stay with the company, especially when the employer matches contributions.
No, AARP does not carry Long Term Care insurance at this time. The American Association of Retired Persons does give tips to members on what to look for in long term care coverage and is committed to watching out for its age 50+ members in this area. To obtain Long Term Care quotes there are many online agencies that can assist you.
Original Medicare has been in existence since 1965 when Lyndon Johnson signed the bill making it law. Original Medicare had Part A (hospital) and Part B (doctor and outpatient). Almost immediately a few carriers saw an opportunity to market supplemental coverage to pick up the gaps left by Medicare. Medicare Part C (later called Medicare Advantage) began in 1997. These private insurance plans gave seniors an option for a managed care private plan vs original Medicare.
Yes a sole proprietor can deduct disability insurance premiums from income for income tax purposes. If you choose to do this, it's important to keep in mind that the benefits paid by the policy if on claim will be received as taxable income and you will need to pay income taxes on the benefits received. If instead you choose not to deduct the premiums, then the benefits can be received income tax free.
Life insurance is personal property. Personal property can be owned by one or more owners. Living in a community property state could present divisible property issues if the life insurance policy has cash values. Each community property state may have it's own proprietary regulations. Consult an attorney before moving forward with any policy ownership changes.
Homeonwers insurance premiums are as unique as the home being insured. There are many factors that are taken into consideration when computing a rate for a homeowners insurance policy. some of those factors are: the valuation of the home, the year the home was built, the distance to the nearest responding fire department, and the distance of the nearest fire hydrant just to name a few.
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.
As mentioned above, a 5 year term insurance is an insurance policy that is in force for 5 years then expires. It is designed for a short term need and or specifically for the purpose of converting to a Whole Life policy within that 5 year period. Most Term policies are "convertible" to permanent insurance and some companies limit the type of permanent insurance their term policies may be converted to. In "converting" a term to a permanent policy what happens is the face amount of the Term, or a portion of that amount is converted to a Whole Life or Universal life policy without the insured having to undergo additional medical testing or underwriting. The premiums paid to the Term policy are not credited to the new permanent policy and the new premium will be based on the current age of the insured.
The death benefit from life insurance is usually paid out tax free if it is paid directly to the beneficiary(s). If it goes through the estate (no human beneficiary named) it will usually be taxed. If you are planning a larger estate, you will want to involve an estate planning attorney, a life insurance agent and a CPA as your advisory team. There are certain situations where you may be taxed if you do not plan well. A big advantage of whole-life insurance is that you can also use it for tax free income before you die. Life insurance is one of the most tax favorable money management tools you have available.
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.
It depends on the reason for the policy. Most people will select a spouse, parent or other family member. If the policy is for final expenses you can name the person who will be handling those affairs or even the funeral home. I do not recommend naming a child as beneficiary unless the money is earmarked for the child after he or she turns 18. Money left to the child will be held in trust until the child is of legal age.