imsumit18/insurance_training_data huggingface dataset:
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.
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.
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.
A unilateral contract is an agreement between two parties whereas the life insurance company holds out a policy with its contract provisions and an underwriting offer that they bind their company to via the premium payment by the policy owner. The life insurance company promises to pay death benefit proceeds to the policy beneficiaries.
When you cancel your Life Insurance policy, you are not only giving up the coverage you purchased but you may also be giving up your insurability and cost of insurance. When you applied for the coverage you are considering cancelling, you went through underwriting to determine if you are "insurable". While you are insured, if your health was to deteriorate, the insurance company still maintains the coverage you have. If after cancelling your policy, your health starts to suffer, then when you try to reapply for another Life Insurance policy, you may not be insurable and at best you will have to pay more in premium. Plus consider you will be older which also increases your premium. I recommend that you talk to your broker/agent first to discuss your situation and see the alternatives you have.
The are many varying circumstances for lifeinsuranceproceeds. Life insurance is paid directly to the benefactresses of the life insurance policy. Generally most married couples use the marital deduction act to pass the proceeds and all other assets to the surviving spouse. If the proceeds remain with the surviving spouse, they are subject to federal and state estate taxation if the proceeds and all other assets exceed the federal unified credit and the state exemptions.If that possibility exists, then the policy or policies should be owned day one by an Irrecoverable Life Insurance Trust to avoid inclusion in the estate.
Cheap insurance is found by carefully selecting a quality insurance agent. That agent will listen to you, provide sound financial advice and communicate clearly with you and the insurance company. Setting appropriate limits is crucial. The real test of value is when you have a claim. If your policy doesnt meet your expectations, you have purchased expensive insurance, regardless of the premium.
That is a great question! I'm sure that you aren't the only one who wonders! The sad truth is though, that between costs of research and development, advertising and marketing, and protection from litigation, most health products are considerably more expensive than they need to be. Services, salaries and overhead contribute to costs also. Could you afford to have a medical emergency without health insurance? Guess what - 60% of all bankruptcies are a result of medical emergencies. There's a great reason. Thanks for asking!
Most insurance companies will give you one speeding ticket, in fact since most companies only do periodic checks, they may not know about the ticket right away. The effect on your rates should be minimal if at all. This varies by company however so check with your local agent. Do not call the insurance company to ask them directly however. That phone call could result in a check and depending on the company, could result in an increase if you have more than the one incident on your record or you are getting a discount for a perfect driving record.
I believe you will find that for the most part, property plicies will exclude any motor powered vehicles from coverage. This is a pretty standard exclusion. Talk to your insurance professional about your options, though. We can easily provide coverage for scooters under a separate contract that is specifically designed to meet those needs at an extremely reasonable price.
The most comprehensive home insurance policies are offered by the High Value/High Net Worth insurance companies. These companies include PURE Insurance, AIG's Private Client Group, ACE Insurance & Chubb Insurance. They will usually provide coverage on an all risk form as opposed to a named peril form. For example- a named peril form will list the things you are covered for; fire, wind, hail, theft, vandalism, etc. The High Value companies will say you are covered for Everything except- intentional acts, flood, wear & tear, nuclear, etc. The insurance companies listed above will usually require you insure your home for more than $1,000,000 and have excellent credit. Some will even require an umbrella or jewelry policy to consider.
People get disability insurance to protect themselves in the event they become disabled. The loss of income could be financially devastating and having disability insurance will provide a stream of monthly income that will pay bills and provide and replace lost revenue. Many full-time experienced brokers can provide the most expert advice to you.
If you leave your job or are terminated your health insurance usually ends at the end of the month you left your job. At that time you would be eligible for COBRA continuation coverage for 18 months or you could purchase indivdiual health insurance. COBRA used to be the best option if you had a pre-exisitng condition but under the Affordable Care Act, commonly known as Obamacare, you can purchase individual coverage with no issues. You have to prove that you have a qualifying event under the IRS code which is a letter of Creditable Coverage from your former health insurance company or employer.
Individual residences are unique. So are the premiums for renters insurance plans. Check with people who have similar units. Find out what their limits are, from that you can come pretty close to an estimate of what it might cost you. Contact an agent that you trust. Have them design a policy and then you will know exactly what one company will charge for the renters policy.
M & E charges for life insurance stand for Mortality and Expense charges. They are fees that cover various risks and expenses assumed by the insurer. The M & E charge is usually calculated as a percentage of the assets held by the investment funds underlying subaccounts held by the insurance company.
People who receive a Medicare Summary Notice are those who have received services or supplies through Medicare during the previous three month period. The notice is a summary of those services and supplies, and the maximum amount that you may owe the provider. If you did not have any medical costs during that three month period, you will not receive a Medicare Summary Notice that quarter.
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.
How quickly life insurance is paid out depends on the company and if all the "ducks are in a row". If the company has changed hands, the address of the beneficiary has changed, etc, it may take a couple months to submit and receive the claim. If everything is up to date and the processing time of that company is fast, it may take less than a week.
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.
You can purchase life insurance coverage on anyone you share an economic insurable interest, including parents. Of course, they need to sign as the policy insured on the application and have to be mentally competent to do so. Life insurance policies held between different family generations are quite common.
You will automatically be enrolled in Medicare when you reach age 65 provided you have worked long enough and paid into the system. You will have the choice to opt out of part B of Medicare, but I do not recommend it unless you are still working and in a group. You will also get Medicare if you are on Social Security Disability. There is about a two year wait when you get disability before you are eligible.
--> Medicare makes it difficult to cancel, or withdraw from, Medicare Part B. Because Medicare Part B provides important coverage for most people 65 and older, and because there's a penalty if someone cancels Medicare but then later wants to enroll again, Medicare enrolls everyone automatically at age 65 and wants to make sure no one cancels their coverage without fully understanding the consequences.
The penalty for people who can afford health care but do not have health insurance under the Affordable Healthcare Act is a fee. The fee is called the "individual mandate" or "the individual responsibility payment". This is being assessed in one of two ways. The first is 1% of your yearly household income and the maximum penalty is the cost of a bronze plan. The second way is $95 per person in a family and half that, $47.50 per child, with the maximum penalty being $285 for a family. The fee will be collected from the 2014 household income which will be completed in 2015 from the income tax form. If the wages are too low then the person or family may be entitled to a waiver. The fee will increase every year with the next increase in 2015 to 2.5% of your yearly household annual income or $695 per adult.
That is truly up to the policy owner. If you are purchasing a new policy that is providing for your coverage needs better than the current policy then it may. In most cases though depending on the amount of time that the life insurance policy has been in effect, it is not recommended to cancel a life insurance policy unless it is absolutely necessary. All licensed agent are ethically obligated to provide information that helps the proposed client make a decision that is in their best interest not that of the agent.
Generally speaking, no. However, it is always important to check with your Insurance Professional about the particular points in your Homeowners policy. Some company's policies may include coverage for damage caused by the failure of a sewer or drainage system. This can include anything from a sump pump to a curtain drain to gutters and downspouts. There would still need to be a determination by a claims professional as to the source of the water.
An insurance product is regulated by the department of insurance. Securities are regulated through through Financial Industry Regulatory Authority and the Securities Exchange Commission. Variable annuities are both an insurance product and a security, i.e. which fall under the jurisdiction of both governing organizations. A registered representative must be licensed with both governing bodies.
Yes. Health insurance under the new Affordable Care Act is, in short, guaranteed issue - meaning carriers cannot decline you for any pre-existing condition or health-related illness. There are no physicals required to secure an individual health insurance policy. To review available health plans in your area, talk to an independent agent/broker. If you'd like some assistance, send me a message using the "contact me" button
Renters insurance does not cover damage to vehicles. The vehicles insurance would cover what ever damage occurred. There is a slight possibility renters insurance would cover damage to a vehicle if for example you threw a baseball through the glass but even this on is a maybe. The vehicles comprehensive coverage would pick up this kind of damage.
Niether homeowners or renters insurnace will cover flood damage under normal circumstances. To get flood insurance coverage it must be purchased from a carrier that is appointed bye the federal government. Only select carriers provide flood insurance coverage and agents must be appointed with one of those carriers to be able to sell flood insurance coverage.
The two basic types of life insurance policies are Term and Permanent. Term insurance does not have cash value and is for temporary needs, because the coverage will end or have a big price increase at the end of the term. Permanent Life insurance comes in Whole or Universal Life. Permanent Insurance can be purchased to provide coverage for your whole life. There are many different features to Permanent coverage so it is important to discuss this type of insurance with a reputable agent before making your choice.
That is a great question! The simple fact is that you can sue anybody, or any company. All you will need is a competent lawyer, a good reason to sue, and a solid winnable case. If you have all of those things, then you can bring suit against your insurance company. Good luck. Thanks for asking!
Breast cancer has four stages. Depending on the stage, surgery performed and recovery management, i.e. regular checkups, etc. life insurance may be possible to obtain. Depending upon the history and current medical condition there are three possible avenues to explore based on what stage the cancer is in: fully underwritten, simplified issue or guaranteed issue.
You could call insurance agents within your area for a start. Whe you call please have the following information available. Normally a requires the year of construction of the home, the square footage of the home, type of garage (if any), any decks or porches, basement type (if any), architecture type of the home,distance of the nearest responding fire department, and possibly more.
Unfortunately, it is impossible to give a guideline on what Term Life Insurance should cost, because the cost varies so much from person to person. If you buy it when young and very healthy, and lock in the rate for a very short time, you can get it for under $10/month for $100,000 of coverage. If you buy it when older or while having serious health problems, and lock in the premium for the rest of your life, the premium could be over $300/mo for that amount. To find the best price for you, go to a website that offers instant quotes and input your information. Keep in mind that these quotes will need to be followed up by a phone call to verify accuracy, or at least by clarifying your health information on the application.
Homeowners Insurance polices are not maintenance polices so should you develop a gas leak this would be the responsibility of the owner to repair. However in the event a unknown leak caused an explosion and/or fire this would be a covered loss. Youcertainlywould not want this to occur.
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.
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.
That is an excellent question! While your agent may be quick to assure you otherwise, it is possible to lose money on an annuity, but it's awfully tough to do. If you've done your homework, and had a good agent, you will almost always come out ahead. You can lose money if: Your guaranteed interest rate is lower than the cost of inflation, and the cost of the fees on the annuity are unreasonably high; if you have a variable annuity without guarantees, and the market tanks like it did in 2008; and if the money that you invested in the annuity could have brought you a higher rate of return had it been invested elsewhere. If you've done your homework and made sure that your annuity covered these bases, you should find yourself sitting on a healthy income stream for many years to come. I hope that helps, thanks for asking!
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.
Annuity Rates are directly tied to the Fed Funds Rate & to 10 Year Treasury Rates. Both of these are at historical lows at the moment. Most financial experts claim that interest rates should rise over the next 5 years. If this happens, Annuity Rates will rise as along with them.
Not only can your ex-spouse buy a life policy on you, but should, particularly if you are paying alimony or child support. Your ex-spouse should apply for and own the policy. Then there is never any question about premium payment and beneficiary changes. Your ex-spouse has a distinct insurable interest. Of course this procedure needs your cooperation. If there are bad feelings you might consider the consequences if the court were to order you to cooperate or buy the insurance for your ex-spouse.
Original Medicare, with or without a supplement plan, allows you to use any doctor, lab or hospital anywhere in the U.S. that accepts Medicare assignment. Most Medicare Advantage plans have limited network that require you to use their participating facilities or else you pay a significant penalty for out of network benefits.
Cash value permanent life insurance has the potential to accumulate cash values, but it's dependent on the crediting method. Variable life insurance uses a guaranteed interest rate account and separate sub accounts that use equities and bond investments. The optimal design for cash value is purchasing the lowest TAMRA compliant death benefit option.
You will need to contact a good insurance agent who is familiar with annuities and can offer a multitude of companies. The agent can examine your needs, goals and personal circumstances and help determine if an annuity is suitable for you, and if so help direct you to an annuity that fits your circumstances. The agent will then help you apply.
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?
If you live in a state that requires auto insurance typically the coverages that would be required are bodily injury, property damage, and uninsured motorist at minimum. Regulations are different from state to state. The amounts and types of coverage can vary greatly. Contact a local agent to know what the coverage requirements are for the state that you reside in.