imsumit18/insurance_training_data huggingface dataset:
ObamaCare Insurance was to be structured in where the young applicants pay a higher rate than the elder applicants so as to have the young paying a higher premium than would be the case if they could just apply directly to an insurance company for the coverage. That shows what the incompetence level of the "designers" of ObamaCare was. We already know we have "social security" that was designed where the young would be paying into the system, each required to accumulate 40 quarters of premiums paid, and how many times have the "legislators" been required to make adjustments to social security to keep it solvent. As you can see your premiums would depend on where you fall in that scheme-ifyou are young your premiums would ber high, if elder your premiums lower.
You should secure disability coverage as soon as you begin working full time. Disability insurance is paycheck protection. Most Americans have 90 days in cash reserves, so a disability could be financially devastating. The odds of experiencing a disability event are much higher than death, so its an important part of defensive planning.
Outside of group disability benefit plans at work, individuals owning disability insurance is shockingly small when compared to the staggering statistical odds of a disability occurring once in your working lifetime causing you to be disabled an average of 30 months. Who has enough savings in this economy to cover that? Not many!
No. There must be insurable interest as defined by economic loss at the demise of the policy insured. If no such financial liability can been established the life insurance company will deny the application. Unrelated parties with no business nor personal economic relationship cannot take out a life insurance policy on someone else.
No, Obamacare does not cover Medigap, or any other Medicare related expenses. In fact, Obamacare actually calls for over $700 BILLION in cuts to the Medicare system over its first ten years, a budgetary item that places the benefits available to our country's senior citizens at tremendous risk. The benefits of Obamacare are only available to those under the age of 65, which basically equates to this law taking money away from caring for our nation's seniors to secure coverage for younger individuals, at least those younger Americans that do not make enough income to cover the cost of coverage themselves.
Home insurance is designed to cover sudden and accidental losses. Home insurance is not a maintenance policy and it does not cover long term damage or wear and tear. Home insurance provides coverage for your dwelling, other structures (fence, shed ect.), personal property and liability coverage. There are several optional coverages available including Water/Sewer Backup, Law and Ordinance, Earthquake, ect. You also want to make sure you purchase a Replacement Cost policy which will provide full value for your home, not a depreciated amount.
You can use your health insurance in another state, it just depends on whether it will be considered in or out of network. If it is an emergency, most companies willtreat it as an I network claim. If it is for a random MD visit, then it will most likely be treated as out-of-network
Notifying the carrier is often critical. If that deadline is missed,it is possible that the next opportunity to add the newborn may be many months away...possibly during an Open Enrollment period. In some states, a "short-term" plan can be purchased. Although premiums are very inexpensive, most benefits are subject to a deductible and pre-existing conditions are not covered. This type of policy should only be considered once options provided by the previous question have been exhausted.
I think your question may be a bit different than perceived by the earlier respondent. Are you asking if you fly to another location and rent a car is that covered as a temporary vehicle or not and then if it is a temporary vehicle does your own insurance apply or do you need to buy liability coverage at the rental counter. If I understand the question correctly the answer is that it depends . You may have coverage as a temporary substitute vehicle to the extent that you have coverage on the vehicle you are substituting for. I would suggest you discuss this issue with your agent, so he can review what exactly you have coverage for. Keep in mind that auto insurance in the US is typically limited to the US and Canada not Mexico so when you travel to another country be sure to go over your itinerary with your agent. Some countries like Mexico do not recognize US insurance as being valid. If you get to the rental counter in another country and forgot to review things with your agent then do this. Buy at least the minimum liability coverage they have required of the locals.
Accidental death and dismemberment (AD&D) and accidental death benefit (ADB), either as a stand alone policy or as a rider on a life insurance policy, is inexpensive but I question its value. In some instances, it may make sense to the buyer. I don't follow industry sales data at this granular a level but I can safely say that it is neither offered nor sold as much as it was in the past when our economy was more industrial and agrarian than service oriented the way it is today.
Medigap is a secondary insurance plan to pick up the financial gaps after Medicare pays their portion. Medigap is a risk management tool. Without a hefty bank account you can have a lot of out of pocket costs if you have a bad year. Two or three hospitalizations (it happens) in a year plus the 20% that Medicare doesn't pay (Part B) can add up quickly. Medigap premiums are a small price to pay in order to sleep well at night.
Tax deferred, fixed annuities are based on the contractual claims in the annuity policy. The contractual claims in the annuity policy are as good as the financial strength and claims paying of the annuity company that issued the policy. Generally, fixed interest rate annuities guarantee a rate for a period of time like 5, 7 or 10 years. The annuity insurance companys portfolio is generally dominated by government bonds.
Long term disability and medical insurance are two completely different animals. Long term disability replaces a portion of your income during the time you are unable to work at your full time occupation due to a covered accident or illness. Claims payments are made directly to the insured. Medical insurance is designed to pay a portion of the medical bills derived from care you receive from doctors, hospitals, and other healthcare providers. Claims payments are made directly to the providers unless assigned elsewhere.
The rule of thumb when choosing a beneficiary is the person who has the most to lose by your death. A loved one usually a family member is chosen as a primary beneficiary and maybe a child will be chosen as the contingent beneficiary. However in cases where no one would be hurt financially upon your death, the next person to consider would be the person who will handle your funeral arrangements and estate. This way they have the cash to pay final expense and other final bills.
--> Normal 0 What makes up a good homeowners insurance policy? In my mind its a policy that is going to do what you want it to do, at a price you are willing to pay. The problem is, most insurance buyers dont really know what they want the policy to do. Most people seem to want a policy to repair or replace their home if its damaged . To me that means you want an all-risk policy on your home with a Guaranteed Replacement Cost feature, which automatically increases your amount of insurance following a loss, to whatever it takes to rebuild your home if it is damaged and has to be rebuilt. All- Risk type policies will not cover everything but they will specifically state what you are not covered for and you can decide where to go from there. Few policies include the Guaranteed Replacement feature; so make sure you ask for it. And if the company doesnt offer it, you may want to check with someone else. Most people also want their personal stuff replaced should it be damaged or destroyed. So a good homeowners policy should do that. That means, all-risk replacement cost coverage for all your stuff. If its not all-risk(often called Special Coverage or Open Perils) Replacement Cost, you may want to look further. Again, not all types of damage will be covered but the policy will tell you what you are not covered for so you wont have any surprises. Often specific exclusions can be eliminated for an additional cost. Most policies dont include these features so make sure you ask for them if that is the kind of coverage you expect. Good homeowners policies will include coverage for the additional expenses you may incur should your home be damaged and you have to live somewhere else while it is being repaired and a nominal amount of Personal Liability coverage, a good one will have limits not less than $300,000. A good homeowners policy will be offered by a financially strong, at least A-rated insurance company hopefully with a local contact to help you understand what you are getting, makes sure it covers any special situations that make up your life and is there should you have a significant claim. A good homeowners policy is one that doesnt get cancelled the first time you have a claim. Buying insurance on-line may be popular and convenient but you have to know what you are doing. Remember if there is a problem, you are one small policy and they are one big insurance company. It may be a good time to have somebody local on your side.
If you do not have your own insurance policy to protect you when you rent a car you do have the option to purchase the insurance provided by the rental car company. You must have one or the other as any rental car company will not let you take their vehicle on the road without insurance. Keep in mind the insurance provided by the rental car companies are generally state minimumcoverage's.
Auto insurance in Ohio is actually fairly inexpensive...if you know where to look. As an experienced broker here in Ohio (just North of Cincinnati), we specialize in finding the lowest available rates offered by the top-rated carriers. Prices are based on many factors including your age, where you live, the type of vehicle you drive and how good (or bad!) your driving record is. Typically, rates here in the Buckeye state are lower than most other states. A younger driver (under 21) will usually pay a higher rate. There are, however, many discounts that can help reduce the premium. Each carrier has a different set of discounts so shopping can make a big difference. Also, by having an experienced broker shop for you, you may be able to find better pricing. Whether its State Farm, Esurance, Progressive, Geico or Farmers (or many others), as experienced brokers with top-rated websites, our job is to help consumers find not only the best prices, but the most appropriate coverage for their specific circumstances.
It takes Life Insurance anywhere from a couple weeks to a couple months to pay, once they have the certified death certificate and completed death claim form. Some companies are faster than others, and if there is a glitch with wrong address or something, that will slow it down. But for the most part, it is just the time it takes for processing and they try very hard not to drag it out.
That is a great question! There are many companies that offer renters insurance. You want to look for one that has a good reputation, and the money to back it up. You can look for an independent agent (one not tied to a brand name), and often your complex managers can refer you to a company ( and often a discount!). Good luck, and thanks for asking!
That is an excellent question! Not only can you, but you should! It is an excellent strategy to maximize as much as you can afford to the amount you can contribute to your retirement funds. Contribute as much as you can to the 401 to earn the employer match, it's free money, in a way, and you should take advantage of it. Your Roth will allow $5500 a year ($6500 if you are 50+) and after your 401, contribute as much of that as possible. The earlier you start, the better, and by maximizing your contributions now, it will help balance out when the time comes that money is a little tighter, and you can't contribute as much. Thank you for asking!
The presence of high cholesterol in the blood has been linked to reduced longevity. To the extent that is true your new life insurance policy might be rated. This is to reflect the increased risk that you present to the insurance company. If you have high cholesterol it will probably be detected whether a paramedical exam is conducted or not. You will find that honest full disclosure will usually give you the best possible rate.
Not being truthful on a Life Insurance application could, at the very least, delay the application process, but that would be the least of your concerns. If you lie, as you say, on the application, and if for some reason, that gets through the underwriting process and the policy is issued, then the real conseqence could affect your beneficiary. If you die within the first two years of the policy, and the misinformation is discovered, the company very well could outright deny any claim. Bottom line, don't lie on any insurance application. The odds are with today's modern underwriting technology, you aren't going to get away with it.
There will be a range of answers in the calculation. Are you married? Do you have kids? Are they going to college? Do you own a home? Have a mortgage? What is your income and prospective income over the next few years? Does your spouse have a career of their own, making a good income? How much do you participate in the family income? The broadest answer is from 2 to 10 times your annual income. Use these factors to calculate the more precise amount. thank you. GARY LANE.
Yes, you can use HSA to pay for long term care insurance premiums. There is a limit on the premiums for LTC insurance that can be paid through your health savings account. The instructions for your Section A (Form 1040) of your tax return will tell you the limit of premiums that can be deducted for your age group that year.
The type of life insurance that pays a dividend is called a participating policy. Dividends are paid when the insurance company makes a profit and, in essence, shares them with its policyholders. The type of life insurance company that offers participating policies that pay dividends is called a mutual company. The type of policy that pays a dividend is usually Whole Life.
You will find, in talking about this with your Insurance Professional, that in most cases, your car insurance policy includes a "grace period" for premium payment. Some non-standard policies do not include this benefit, so be careful. Keep in mind as well that regardless of the length of the grace period, if you ultimately fail to pay on your renewal, coverage will be cancelled back to the policy inception date for that term. If you fail to pay mid term, the policy may be cancelled effective the end of that grace period, which means you would be billed for coverage provided during that grace time.
The only way to find out is to request an actual quote. What I can tell you is that auto insurance will be more expensive in a big city such as Boston than in a less populated area because of the higher likelihood of a claim and the higher cost of repairs in a bigger city. Also, keep in mind that not all insurance is the same and you generally get what you pay for. I highly encourage you to get liability limits higher than the legal minimum in your state. Liability coverage is pretty cheap if you have a good driving record and if you ever have an accident and injure someone you'll be VERY happy you have higher limits.
Many scholars find insurance unfair. Since there isn't a guaranteed return it has the appearance of gambling. When living in a non-Islamic country, abiding by local law is permissable. In Muslim-majority countries there are alternative companies formed called takaful that provide similar coverages on a shared-risk model.
Most advisers recommend the day you start working full time. Most American workers have 90 days in cash reserves to pay household expenditures. The average long term disability is around 30 months and the odds of a disability event during your working years is significant. And while Social security disability is available, its benefits may not be enough, so purchasing individual disability insurance is necessary and part of your defensive financial plan.
Generally speaking, an irrevocable life insurance trust (ILIT) is set up my those who wish to fund it, i.e. the grantors. Thegrantorsset up the trust, pay premiums into the trust and the trust purchases life insurance for the trustbeneficiaries The grantors are required to have an arms lengthagreementwith the trust and cannot benefit from it directly. Before moving forward setting up an ILIT, consult your estate and probate attorney toestablishyour suitability as grantor.
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
This question is way too vague to be able to provide a decent answer to. As none of have a crystal ball readily available, the best I can suggest is that depending on your carrier, the losses that they have experienced over the last five years, and the make up (age, sex, etc.) of their client base you may experience a decrease in premium at any renewal then again you may experience an increase in premium also.
Auto Insurance is not a requirement mandated by Federal law, but instead is required by most if not all states as a condition of registering a car for use on public access roads and highways. Property and Casualty insurance, including car insurance is regulated by state authority as opposed to the Federal Government.
In Canada, you can own a policy on anyone you have an insurable interest in (with their permission) including yourself. If your company owns the life insurance on your life and the company is not the beneficiary. It would be considered a taxable benefit. With one exception transfer of ownership is considered a deemed disposition. In other words it could trigger a taxable gain. The Income Tax Act provides for the transfer of a policy to the policyowners child, without a taxable disposition to the policyowner, if a child of the policyowner is the only person insured. Child includes any natural or adopted child, grandchild, stepchild, son- or daughter-in-law. THAT ONE EXCEPTION creates a planning opportunity. Does it make sense to keep paying income tax each year on the growth of your non-registered investments? Use non-registered assets you wont need during your lifetime. Buy an exempt permanent life insurance policy. Structure the policy to: enable tax-efficient distribution of your assets to future generations and give you control and access while living. Growth inside a permanent life insurance policy is not subject to annual tax (within limits) and Proceeds of life insurance go to named beneficiaries tax-free. Example: How it works: You own the policy. Your adult child is the insured person, Your grandchild is the beneficiary While living, Your adult child is contingent owner At your death, Your adult child becomes owner of policy Benefits for you Taxes - Reduce your annual income tax Control - Keep control of your assets - Can change beneficiary and coverage amount (subject to underwriting requirements) - Can access the cash value in the policy if necessary Legacy - Preserve your legacy for your children and grandchildren - Generate estate value, not taxable 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.
The Comprehensive portion of your policy's physical damage coverage would cover the damage caused to your car by a falling tree provided that the car was parked and stationary at the time. The claim would be settled subject to your deductible of course. Talk to your Insurance Professional about the specific terms and conditions of your policy. .
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.
Not unless they are damaged by a covered peril. At that point they would be consider part of your personal property. Sump pumps breaking down due to age or wear and tear would not becovered Homeowners is not designed as amaintenancepolicy. Covered perils would be things like fire, theft, collapse and other similar occurrences.
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.
Medigap, also known as Medicare supplement insurance, covers a portion of the balance of approved Medicare Part A and Part B expenses. Medigap plans are standardized and assigned letters. All Medigap plans with the same letter are identical in every way, except the premium. Medigap plan F pays 100% of the balance of approved Medicare Part A and Part B expenses.
Your wife must be qualified for Medicare to receive benefits. If you are over 65 and on Medicare she can qualify based on your work history. If your wife is not yet 65 or Social Security Disability then she will have to pick up a private insurance plan until she is eligible for Medicare. She cannot be covered by your benefits.
Medicare should be notified of your death as soon as possible. Medicare will request a certified death certificate as part of the process. Assuming you have a Medicare supplement plan, your carrier should also be notified of your death. If Medicare and your Medigap carrier are not notified in time to stop your next payment, you can ask for a refund.
To find which Disability Insurance is best for you, you need to visit with an agent who understands this product and can shop several companies to find your best rate. Your agent can also help you figure out which features to include on your policy so that it accomplishes the purposes for which it is intended.
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.
To sell life insurance online, you need to set up a website and determine how to drive traffic to it. Or you need to purchase leads. Or both. If you can do both, you will have a backup in case your website experiences technical difficulties, and you will have some lower cost "organic" leads in case you do not make enough off your purchased leads.
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.