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Does Life Insurance Go To Debt? | Life insurance does not go to the debt of the person who died , unless the life insurance proceeds go to his/her estate . If the money goes to the estate , debt collectors will collect from it . Another way life insurance might go to pay off debt incurred by the Insured , is if the beneficiary was a co-signer for the Insured 's debt -LRB- in community property states , a spouse may need to pay off the debt even if their name was not on the contract -RRB- . If not a co-signer -LRB- or not the surviving spouse in a community property state -RRB- , the beneficiary does not need to pay off the debt of the Insured , unless they want to . If it is the beneficiary who has debts and receives a life insurance death benefit , each state has their own limitations on whether or not debt collectors can come after your life insurance proceeds . This website tells about the debt collection laws from some states : WEBSITELINK | Video Transcript : Today 's question is , Does life insurance cover drug overdose ? Remember , during the contestability of a contract during the first two years , if somebody actually overdosed on drugs and that can be quantified as suicide , most carriers will not pay the death claim . If this is an accidental drug overdose , whether by prescription or whether by street drugs , then if it 's just a normal death claim , it should pay the claim . But keep in mind , this is going to be highly investigated during the first two years . So if death occurs and drug overdose is involved , you 're going to go through an investigation process to determine under their due diligence process whether this was suicide or not . So just keep in mind when you 're looking at a question like this you 're saying , When did it occur and under what circumstances did it occur ? |
Does Life Insurance Go To Debt? | Life insurance proceeds go to a designated beneficiary by the policyholder . It can certainly be used to reduce or eliminate debt but unless very specific circumstances are in place through a will or trust , the beneficiary controls the proceeds . There are policies such as final expense plans that can be designated to pay for a funeral , but not traditional life insurance . | A homeowners policy can always be cancelled for non-payment of premium . In addition to the representations made to the agent , the underwriter also can order an on-site inspection . If the property isnt as described the policy can be cancelled . Some specific issues might be the presence of an aggressive dog , or poor maintenance of the home or grounds . Mortgage companies also report to insurance companies when a residence is vacant . The insurance company is likely to cancel the homeowners policy . |
How Can You Find Out Someones Homeowners Insurance? | That is a great question ! A better one might be why do you want to know ? If you have asked them , and they did n't tell you , it will be very difficult for you to legally find out . The Patriot Act took great strides toward protecting our personal information , so it 's not likely that unless you are close family , and trying to unravel a family members finances , that any company will tell you who their clients are . if you need more information , please do n't hesitate to contact me , if I can help , I will . Thanks for asking ! | Non-qualified retirement plans are not sanctioned for the tax deduction like qualified plans are under ERISA . Non-qualified retirement plans generally use annuities and life insurance . Annuities can be used in qualified plans , but life insurance can not . Non-qualified and qualified retirement plans using annuities , for an example , accumulate tax deferred , but the basis of a non-qualified annuity is distributed free of taxation , whereas qualified annuities are fully taxable including basis . |
What Company Has The Best Whole Life Insurance? | The answer to what carrier has the best whole life insurance can depend on the underwriting and amount of coverage desired . However , assuming all else being equal , the best coverage is generally with a mutual carrier where the insured receives not only interest , but also dividends on the policies value . Most companies that sold whole life 10 or more years ago do not offer coverage today because there are now less expensive alternatives . However , when low cost is not the overriding issue , look to a mutual carrier . | Jerry has provided you with a good summary of the provisions in your standard life insurance contract . I will share with you some additional info about one clause in particular : the suicide provision . I have actually handled claims due to suicide . You can imagine how extraordinary an experience that can be . Being there for people in their time of deep grief is hard enough . Getting involved with finances at the time requires great delicacy . And to do so when the cause of claim is suicide gives things an almost unreal quality . Most people have a really tough time dealing with death . When people take their own life , it makes things almost too hard to handle . Against this crazy backdrop , you have the added question as to whether or not the insurance company will pay the benefit . I am pleased to report that in the few cases I have had , the answer has been an unequivocal yes . One claim was actually pretty close to the two-year limit . As such , there was concern as to how tough a line the insurance company would draw . They are , after all , worried about insurance fraud and people trying to collect benefits illicitly . But this case was indeed tragic . It involved an elder gentleman who just was really sick and had had enough of life . So he settled things in his own way . The claim was paid without delay . |
Can 401(K) Plans Provide Adequate Retirement Resources? | A 401 -LRB- k -RRB- retirement plan is a defined contribution plan that is funded by various savings and investment products . The adequacy of a 401 -LRB- k -RRB- is based on performance of those products and your contributions . Based on the current trends , the great risk to retirement is human longevity . The odds of most 401 -LRB- k -RRB- s being adequate to fund retirement is somewhat slim . | Great question ! The deductible on your homeowners works exactly the same way that it does on your health or auto insurance policies . Whatever amount the deductible is , that amount you are accountable for first . Often people will opt for a higher deductible to keep the monthly cost low , and as long as they have a savings fund to cover the higher amount , or are blessed to not have to file a claim , that is a great strategy . On the flip side , if that is n't the case , and a claim is filed , that higher deductible can be a real problem . It is very important to find a level where the deductible is affordable , as well as the policy . Thanks for asking ! |
Can You Get Term Life Insurance If You Have Cancer? | The type and stage of cancer that you have , the treatment that you have had , and the last day of your treatment , all enter into the type of life insurance policy that you can get . Life insurance for most internal cancers is usually limited to graded whole life during the first year or two after the last treatment . After two years , there are graded term policies available . However , if you have a highly treatable cancer , you might be able to get life term life insurance right after your treatment is completed . | It may or may not depending upon your Insurance Company and how they are filed in your state . Some companies do offer and apply a long term discount and/or a safe driver discount if they apply . You can , however , be pretty sure that unless your company includes an accident or violation forgivevess benefit , should you suffer either of those , your rate will probably increase . |
Can You Get Term Life Insurance If You Have Cancer? | If you are currently being treated for cancer , you will not be able to qualify for any term life insurance . Carriers will only consider coverage after the completion of your cancer treatment . From there , most carriers will have a postponement period of at least 2 years -LRB- most prefer 4-5 years -RRB- from the point the cancer treatment was completed . If you apply for term insurance after this window and can qualify for it , you will likely be assigned a table-rating for your coverage -LRB- a table-rating is a percentage increase in premium on the standard risk classification - you can be rated table 1 , 2 , 3 , 4 , 5 , 6 , 7 , or 8 . Some carriers will offer table ratings up to table 10 or 12 , but few do . Table ratings can also be cited as letters - table A , B , C , D , E , F , G , H , etc. -RRB- . The more time that has passed since the cancer episode , the better risk class you can qualify for because there is a less likelihood of a reoccurrence of the cancer . During this period , the only life insurance coverage you would be able to secure is Guaranteed Issue Whole Life insurance . These are final expense policies that feature face amounts of $ 25,000 or less and have a graded benefit period . A graded benefit period is a 2-3 year window -LRB- depends on the carrier - most are 2 years -RRB- where if death occurs during the graded period , the carrier pays only the premiums that were paid into the policy -LRB- unless the death occurred under accidental means - when this happens , the full benefit is payable -RRB- . After the graded period has expired , the full benefit is payable regardless of cause of death . I hope the information is helpful - please feel free to contact me for help with your coverage , including quotes and plan comparisons , and if you have any other questions . Thanks very much . | Non-qualified tax deferred and immediate annuities can be part of an income strategy for suitable savers or investors . The tax deferral features of annuities are particularly attractive for high tax bracket Americans who have mid to long term financial goals . Immediate annuities can provide tax advantage strategies like those used in bond laddering techniques based on contract periods like 10 and 20 year payout periods . But immediate annuities with a life only payout can generate guaranteed income you cant outlive . |
Can You Get Term Life Insurance If You Have Cancer? | If you have just been diagnosed with cancer it will be very difficult to purchase any type of life insurance . Traditional underwritten term life insurance will want to see you cancer free for at least 5 years to be accepted and 10 years in order to get back to standard rates . There are some very small face amount policies usually for final expense that you should qualify for with limits and waiting periods . I highly recommend understanding the policy provisions before you make your purchase . I wish you the very best in your battle and pray you are victorious . | Insurance carriers are typically overseen in each state by the commissioner of insurance for that state . You can do an internet search to find the website of your states commissioner . On this site you will find a vast amount of information about the many insurance carriers in your state along with insurance tips and tricks . |
How To Appeal A Denied Home Insurance Claim? | When the insurance company denies a homeowners policy claim you can pursue the claim further . The policy itself might state that you must submit to arbitration , however , competent legal counsel can best direct your activity . A scan of the newspaper will show that courts get involved with denied claims and have made some startling judgments . One was in our paper yesterday . | This is very unusual but not unheard of and technically legal as I understand it . In my nearly 30 years of being associated with employer 's group health plans I have had many clients who require a drug screen as a condition of employment but I have never had one that charged a prospective employee to pay for it . Do they offer to reimburse you if you pass the drug screening ? Really a drug screen should only be the last step before you are hired or you are given a conditional offer of employment based upon passing the drug screen . With today 's technology $ 300 seems an excessive amount to be charged just for a drug screening , is there a credit check and criminal background check also included in this ? Traditionally such practices have been a cost of doing business for the employer -LRB- and these tests can be required of the employer if the have Federal or State contracts they have to comply with as part of their doing business with the government -RRB- and not passed onto a job applicant . Personally , I would look for employment elsewhere before I would pay a prospective employer for the `` privilege '' of getting a job offer . If they will pick your pocket up front like that I can only imagine what a delightful work environment they must provide . |
How To Appeal A Denied Home Insurance Claim? | Each carrier will generally state what the appeals process is within their policy , so it 's best to check there first . Of course , there 's always the option of going to your state 's department of insurance if you want to place a complaint , but I would suggest being absolutely sure that the insurance company did not live up to the policy benefits . Fortunately , most of the benefits are standardized now which should make things a little simpler for you . | That is a great question ! I guess you need to define expensive . Depending upon your health , amount of coverage wanted , and your age , it certainly can be , or it can be very affordable . It will generally be more affordable than a term policy will be , but much less expensive should you want that term policy extended . I 'd ask you to talk it over with an agent , and get a good idea of what your budget will allow . Thanks for asking ! |
Does USAA Have Disability Insurance? | Unfortunately , USAA does not have their own Disability Insurance policy for purchase . USAA does carry many other types of insurance policies . In order to purchase Disability Insurance , you can search on the internet for a Life Insurance company that offers a variety of Disability Insurance policies so that you can find the one with your best price and features . | Congress has a group plan that has specific coverage unique to its members . However , in 2014 , Congress -LRB- and Congressional employees -RRB- were scheduled to change to plans that the general public was going to receive . Lately , there has been some discussion about making exceptions for members of Congress . The concern was mainly many of their staff may not be able to afford Obamacare . Can you believe that ? |
When Can I Start Getting Medicare Benefits? | Medicare Part A and/or B benefits can start when you turn 65 . You can sign up during the 7 month period that begins three months before turning 65 , includes the month you turn 65 , and ends three months after the month in which you turned 65 . This is called your Initial Enrollment Period . If you sign up for Medicare Part A and/or B during the first three months of your Initial Enrollment Period , your coverage -LRB- in most cases -RRB- starts the first day of your birthday month . If , however , your birthday falls on the first day of the month , your Medicare coverage will begin the first day of the prior month . | You can enroll in Medicare Part B in the three months before your 65th birthday , the month of your 65th birthday , and in the 3 months after your 65th birthday . If you did not enroll at that time , the open enrollment period is between Jan 1 and Mar 31 of each year . |
What Is Medigap Open Enrollment Period? | The great news is people can switch a Medigap Plan anytime it benefits them and they do n't need to wait for a certain enrollment period . The Medigap open enrollment period is a 6 month period when a person is 65 years old and gets Medicare Part B . It allows the individual a one time period where they can apply for a Medigap Plan without answering any health questions . However , even after the open enrollment period people over 65 switch plans all the time to save money or improve their benefits . There is usually a dozen or so health questions that are focused on big health issues in the last 2 years . A good independent agent that specializes in Medigap Plans will be able to go over those questions with you and help you pick the carrier that meets your needs the best . | Here 's the quick and deadly answer . You put a bunch of money into an annuity . You get a check in 30 days . This is what the company calls immediate . The amount of the check depends on how long your annuity is ... You can choose a certain period of time - years or your lifetime or spouses/beneficiary lifetime . This is called a joint annuity . |
What Is Medigap Open Enrollment Period? | If you are new to Medicare and in your Initial Enrollment Period you are also in your Medigap Open Enrollment Period . This is a one time event that lasts for 6 month . It begins the first day of the month in which you turn 65 or older and are enrolled in Medicare Part B . During this time you can purchase any Medigap Plan an insurance company offers in your state without answering any medical questions . Not knowing what your health may be in the future , It 's a great time to get Medigap . The Annual Election Period -LRB- Oct 15 through Dec 7 -RRB- is a time for you to change your Prescription Drug Plan -LRB- Part D -RRB- . You do not have to make any changes to your Medigap Plan . Medigap Plans are guaranteed renewable . As long as you make your premium payments , the plan is yours to keep . If you want to apply for a new Medigap plan or replace an existing plan outside of your initial Open Enrollment period , you 'll have to answer health questions . The good news is that insurance companies each have their own set of unique medical questions . I 've seen insulin dependent diabetics get declined with one company but offered a policy with another . | That is a great question , and one that I 'd love to give you an answer to , but there is a lot more information that an agent would need to know to give you a realistic quote . Term or whole life ? How is your health ? Your age and gender make a big difference in the price , as does your smoking preference . Do you have existing insurance coverage ? If so , what percentage of your annual income does it cover ? All of these things play a part in what -LRB- if any -RRB- coverage you might be able to get , and the cost of the policy . If you 'd like to inbox me your specifics , I can give you a better idea . Thanks for asking ! |
Is Vandalism Covered By Home Insurance? | It is always best to talk to your Insurance Professional and discuss the specific terms and conditions of your policy , but in general , commonly vandalism is a covered peril in today 's Homeowners ' Insurance policies . In order to process your claim , it is likely that your claims professional will be looking for a copy of a Police Report in order to help document your los and damages . | This is not legal advice . Anytime you intend to defraud a company or an individual you are subject to being sued . For example if you said you were operating your car when it struck a tree when the truth was your brother was driving the car , his license was suspended and you had signed a form excluding him from coverage , you could be sued , particularly if the company had settled the claim before they discovered your deceit . |
Is Homeowners Insurance Included In Condo Fees? | No , Condo Owner 's Insurance is not included in your fees . Generally -LRB- refer to your master association document -RRB- the Association would insure from the wall studs out -LRB- siding , insulation , roof -RRB- and will carry liability to cover the association . You need to insure from the wall studs in . That includes sheetrock , trim , cabinets , carpet , personal property and your own liability risk . Condo insurance is not very expensive since most claims happen on the outside of the building -LRB- wind and hail -RRB- . A specific area to look at is weather or not your heating and cooling equipment is covered by the assocation , or if you need to insure it . | Great Question . Typically home insurance does not cover foundation repair . That type of work is not cover by insurance policy . You may want to check with the person who built your house and see what is the propor way to fix that problem . Also make sure you consult with a licensed contractor as well . |
Is Homeowners Insurance Included In Condo Fees? | No . Homeowners insurance is not covered in your condo association fees . Your condo association fees will likely include coverage for common areas and for insurance to replace damage to your unit , not including upgrades or personal property inside your unit . You will need to secure coverage for additions & betterment -LRB- s -RRB- -LRB- otherwise known as upgrades -RRB- to your unit and for personal property -LRB- your stuff -RRB- , loss of use coverage and Personal Liability . Be sure to check with your local independent insurance agent and your condo association . Hope this answer helps . | Group Universal Life insurance is a flexible , permanent type of life insurance policy offered by employers to employees at group rates . Universal Life should be a portable plan , because the purpose of Universal Life is to last beyond a few years , and keep for the rest of your life , if possible . It can offer employees death benefit protection along with the opportunity to grow cash values tax deferred . |
How Long Does It Take To Get Life Insurance After Death? | Life insurance proceeds are generated and paid to the policy beneficiaries at the death of the policy insured . The life insurance company has a form to fill out and will require the certificate of death and newspaper obituary . After the paperwork has been processed it should take between 30 and 60 days to receive a check . | In order to sell term life insurance in California an agent must hold a valid Life Insurance Agent license . That license is activated when an admitted life insurance company appoints that agent . That company becomes admitted when it meets the requirements for admission from the state insurance commissioner . Almost every life insurance company sells term insurance . |
Who To Name As Beneficiary Life Insurance? | Your beneficiary should always be the person who will suffer the most financial loss upon your death . Whether it is a spouse or significant other , family member or business partner . Who needs your income or who would have to pay for your debts or who will be in charge of your final expenses ? That is your beneficiary . | You can get life insurance on anyone that you have an insurable interest with . You must first justify the need for life insurance based on the economic loss you would suffer from his death . If you ca n't establish economic loss , you ca n't be thebeneficiary.Engagementis aproposal to join interests , but it may not be enough if there are no present and shared liabilities.If you ca n't establish that as anengagedcouple , then boyfriendstatus will be moredifficult . |
Who To Name As Beneficiary Life Insurance? | In Canada if you have a named beneficiary and not your estate then the proceeds bypass probate and are paid directly to the beneficiary . If you name a beneficiary in the `` protected class '' , spouse , parent , child , grandchild , then the policy is potentially protected from the owner 's creditors during the lifetime of the person whose life is insured . In all provinces except Quebec , the relationship must be between the life insured and the beneficiary . In Quebec , it is between the owner and the beneficiary . If you designate a beneficiary as irrevocable , then the policy also has potential creditor protection . In addition no changes to the policy can be made without the irrevocable beneficiary 's consent . If a corporation is owner and paying the premiums on a policy , the the company should be the beneficiary otherwise it will be considered to be a taxable benefit . Ultimately , who should be named the beneficiary depends on what you want to accomplish . If you have any further question or feel 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 , | Hypertension and high blood pressure can affect life insurance pricing because the risk to the life insurance company is greater . However , in recent years , managed hypertension and high blood pressure with medication and annual doctor visits can `` mitigate '' some of the exposure to the life insurance companies . There are significant differences inunderwritingpractice from company tocompany . We monitor the companies known in the market as benevolent underwriting . |
Who To Name As Beneficiary Life Insurance? | The beneficiary of your life insurance policy should be either the person -LRB- s -RRB- who would be most affected by your death.It is best for minors designated as a beneficiary have a financial guardian assigned/designated to them . It should also be an individual you trust to be in control of your final expenses . If your estate will require estate taxes contacting a tax professional is recommended ... | When is not necessarily the best question to ask as to why to buy whole life insurance . If you know why you are purchasing insurance , that will help to determine your when . Most whole life policies pay out very little in dividends so I would look at other vehicles if you want dividends . Also , life insurance isa tax free vehicle when it pays out so consider that when you are looking at life insurance . To get to the root of the answer , most people purchase Whole Life policies as final expense policies because there is n't much of a reason to purchase Whole Life policies otherwise . The interest rate is dismal , dividends are not worth mentioning . The cost of a whole life policy can be affordable as to building up the savings or investment vehicle versus on your own . So , I would not purchase a whole life policy prior to age 50 . |
Who To Name As Beneficiary Life Insurance? | The beneficiary of your life insurance policy should be someone you trust to handle the money in a way that you would approve of . E.g. . If you want your policy to pay for your funeral , choose a beneficiary who you can depend on to see that the money gets spent in that fashion . Or , it should be the one -LRB- s -RRB- who would be most impacted by your death . E.g. Your spouse . It is best not to leave the money to minors unless you also have designated a financial guardian for them . If your estate is large enough to pay estate taxes , you may want to consider forming an ILIT and leaving the money to that . Contacting an insurance and tax professional can help you make this important decision . | That is a great question ! There are a couple of reasons why the taxes are deferred on your annuity . The first is that by putting the taxes off until you take the payments , you have an incentive to save for your retirement . That helps everybody , as there is theoretically less need for public assistance programs , and so less need for Government funding of them . So the laws were written to give you that incentive . The second reason is that you have n't accessed the money , and therefore should n't have to pay tax on what you have n't gotten paid from . Like a capital gain tax , you do n't pay it , until you 've realized and capitalized on , the gain . I hope that helps , thanks for asking ! |
Does The NFL Provide Health Insurance To Professional Football Players? | The NFL -LRB- National Football League -RRB- provides comprehensive health insurance coverage to its players through the Collective Bargaining Agreement . 100 % of all expenses -LRB- must stay in-network -RRB- are covered through the plan after a deductible and maximum out-of-pocket limit is reached . This includes major medical , office visits , prescriptions , ER , and many other items . Dental and vision benefits are also included in the package for both rookies and veterans . But most importantly , the coverage continues after the player has retired from the NFL and is no longer playing . This is extremely important considering the potential for chronic injuries and needed treatment . Important : Answer provided by Ed Harris , one of the nation 's leading health insurance brokers and football benefit experts with 35 years of experience . His website majormedicalhealth.com provides consumers with the free quotes and the lowest available rates from all major companies . | Current Assumption Universal Life Insurance is an interest crediting rate life insurance policy with two sets of rates for the cost of insurance , admin charges , policy fees and front end premium loads and the interest rate credited to the policy . One set of rates in called current company practice and the other contractual guarantees . |
Can You Take Out A Loan On Your Life Insurance? | Yes , with some policies you can take a loan out from the life insurance policy through the issuing company if the policy has been in effect long enough to have accumulated some cash value . The amount that you will be able to borrow from the policy will depend on the amount of cash value accumulated and the restrictions placed on borrowing from the policy by the issuing company . As always read your policy completely to know the coverage and exclusions within the policy or contact your local agent to have them go over the policy with you . | If youre addressing existing non-qualified annuity and you desire to use in funding an IRA , the following cautions are advised . Your name may be the same on the annuity as well as the IRA , but it reality , your changing ownership registration . If that happens your annuity , if effect , is being surrendered and that surrender will trigger an ordinary income tax event on the gain in the policy . If youre under age 59 an additional 10 % penalty will be assessed as well . And dont forget non-qualified annuity basis is tax free , by inserting it into an IRA ; you give up the tax free status of basis because all IRA distributions are an ordinary income tax event . Also keep in mind that IRAs have contribution limitations , $ 5,500 under age 50 and $ 6,500 over age 50 . Most non-qualified annuities are larger than that . Before moving forward with any changes consult a tax adviser or CPA . |
Can You Take Out A Loan On Your Life Insurance? | If you have a permanent life insurance policy with cash value , you are most likely able to take a loan from the cash value to use for whatever you wish . Contact your agent or the customer service department of the life insurance company your policy is with . Ask for an illustration showing the effect of taking out the loan on your policy values , and how much you need to repay in the future . | Single Premium Whole Life Insurance is a lump sum deposit into a modified endowment permanent life insurance policy . The Single Premium Whole Life Insurance policy can be designed to cover an indemnification need , an income scenario like an annuity and as a transfer asset for generational gifting.Single Premium Whole Life Insurance can be a tax advantaged opportunity with interest rate crediting that may be competitive with other interest rate products . |
Can You Take Out A Loan On Your Life Insurance? | If you own a permanent -LRB- cash value -RRB- life insurance policy policy loans should be possible . Each policy contains provisions which explain how policy loans can function for that particular contract . As long as the policy loan does not grow too large relative to the cash value available in the policy , there should n't be a problem . While you do n't have to repay the loan - it can be repaid out of the death benefit - care must be taken to ensure the policy is not caused to lapse as income tax would be payable in the year of lapse subject to all of the gain over the life of the contract . | Yes , it is possible to get insurance after breast cancer . There are a number of factors an insurance company would consider including : date of diagnosis , type and stage of cancer , size of tumor , type of treatment and date completed , recurrence or spread , reduced risks example smoking , any serious complications from treatment . Typically underwriting can only be done once treatment is completed . Higher grade tumors typically 10 years after last treatment considered with a rating . Best case lower grade tumor standard after 3 years . Typical case 2 years after completion of treatment rated policy . -LRB- extra premiums for increased risk -RRB- . I recommend , especially when you suspect you might be rated for insurance , that you work with an experienced independent insurance broker . 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 . |
How To Get Money From Retirement Plan? | In Canada , how you get money from a retirement plan depends on what type of plan . If it is a Registered Retirement Plan -LRB- RRSP -RRB- then getting money out is as simple as deregistering and surrendering the plan . You will have to pay tax as the amount will be added to your income . There will be a withholding tax , currently 10 % for up to $ 5,000 , 20 % for $ 5,001 to $ 15,000 and 30 % for over $ 15,000 . If it is a pension plan you can not get money from the plan other than as an income while you are with the company . Depending on circumstances , money from a pension plan is either transferred into a `` regular RRSP '' and can be withdrawn or a `` locked in RRSP '' and usually can not other than as an income . Check with your advisor before you do anything to make sure you are making an informed decision . 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 . | Medicare does not pay for assisted living or nursing home . It will provide some short term rehab services in a nursing home but it is not designed to pay long term . To receive nursing home benefits you must be hospitalized at least three days not counting day of discharge , and need skilled care that can not be provided at home related to the reason you entered the hospital . Medicare will only pay up to 100 days . |
Can You Get Life Insurance On A Fetus? | You can not get a new policy on a child until they are at least 15 days old . You can look at adding a child rider to your life insurance policy as Peggy noted - this will provide term coverage for him/her for a low additional premium -LRB- typically around $ 5 per month per $ 1,000 of coverage -RRB- . Many parents look at purchasing a small whole life policy with a guaranteed insurability rider for their child . Please feel free to contact me for assistance . Thanks very much . | When a term life insurance policy is has expired the first thing the policy owner will notice is a sharp rate increase , usually ten fold . The policy will not necessarily terminate but will be very expensive to continue . There are a few things the owner can do . First cancel the policy and apply for a new policy . You may convert a portion of it to permanent insurance such as a whole life or universal life . This would be used if there were health conditions that would cause the owner now to be uninsurable . I recommend having an experienced life insurance broker work with you at least one year before the term policy were to expire to prepare in case of some unpleasant outcomes . |
Can You Get Life Insurance On A Fetus? | When you purchase a child rider on your own life insurance policy , you are obtaining coverage for your present and FUTURE children . So in that sense , you are procuring life insurance for your child while he/she is still a fetus . However , the life insurance will not cover your child until he/she is about 15 days old . | Joint last to die policies also may be known as second to die or survivorship life . The contract permits two policy insureds on one contract . It was originally conceived after the Martial deduction Actunder the Economic Recovery Tax A ct of 1981 andbecame law allowing the unlimited transfer of assets to the surviving spouse . Therefore , joint last to die polices were created to pay at the second death of the policy insured . |
Can You Get Life Insurance On A Fetus? | No , you can not get Life Insurance on a Fetus . The child has to be born , in most cases at least 14 days old or older before you can consider having life insurance on the child . After the child is born , consult with your agent or broker about whole life insurance or term as there is one company which will give term insurance on a child . | As + Larry Gilmore and + Tony Canas have indicated , the deductible is an amount you must pay before accessing the major medical portion of your health insurance plan . Some health insurance plans have copay 's for items such as doctor and Rx while others are simple catastrophic plans where you are responsible for paying all illness and accident related claims before the plan pays anything . If your plan has doc & Rx copay 's you generally do not have to meet the deductible before the plan pays . Regardless of whether your plan has copay 's or not , keep in mind you are not paying the `` full retail '' price of care when you are in the deductible phase . If you are using par -LRB- network -RRB- providers , you are only paying the negotiated rate for your care . Also some plans have zero coinsurance after the deductible , meaning the carrier pays 100 % of your approved major medical related claims when using par providers . |
What Does It Mean When A Retirement Plan Is Vested? | When a retirement plan is vested you have the ability to take that retirement plan with you if you leave the employer . You now own the funds that have been vested . Many employers contribute a set amount to your retirement plan . After you have been with the company a set number of years all or a portion of those funds contributed by your employer become yours . | Taking antidepressants does not always affect life insurance rates . Taking one antidepressant medication for mild , controlled , stable depression will still allow you to be rated Preferred with many companies . And you can get No Exam life insurance at that same rate as everyone else . When there is more than one medication taken for depression or other factors indicating more serious depression , your policy may be rated up to a higher premium . If you had a recent hospitalization for depression or are on disability due to depression , you mayneed to get simplified issue life insurance , and those premiums can be rather steep . However , by shopping with an agency that carries many options , you can get affordable life insurance while using antidepressants . |
Can I Add A Non Family Member To My Auto Insurance? | Yes if they drive your car on a regular basis you can add them as a named driver . Keep in mind that their driving record could affect your rates . If they have a bad driving record I recommend having them purchase their own policy . If they only drive your car occasionally they would be covered . | For most situations , the Medicare coinsurance percentage is 80 % following the deductible . Keep in mind that it is 80 % of the Medicare approved amount , not the amount billed by doctor or medical provider . Under Medicare Part A -LRB- hospital -RRB- portion you have what I would consider a daily copay after the first 60 days but Medicare refers to it as coinsurance . |
Can I Add A Non Family Member To My Auto Insurance? | That is going to depend on the carrier that you are applying for auto coverage with . Many carriers would prefer that other drivers in the household that are not directly related have their own insurance policy , but some will accept other drivers being on the same policy even if they are not related as long as they reside in the same premise as the insured . Contact a local agent to find out about coverage availability and pricing in your area . | The best option is to buy your coverage through an independent disability insurance broker . Disability insurance has many moving parts and are very customizable . Quotes are based on a number of factors including your age , gender , occupation , income level , any medications you may be taking , and medical conditions you 've been/are being treated for . When comparing quotes , the most important thing to understand in your coverage is the definition of disability -LRB- the best definition being a `` true own occupation '' definition -RRB- . This states what requirements must be met to have a valid claim on your disability insurance policy . I hope the information is helpful - please feel free to contact me for assistance with your disability insurance coverage needs , including quotes and policy analysis , and any other questions you have . Thanks very much . |
Can I Add A Non Family Member To My Auto Insurance? | That will depend on your auto insurance carrier and their policy standards . There are carriers that will persons that co-habitat to be listed on the same auto insurance policy . In some cases it may be less costly for each person to have their own policy . Contact a local agent to find out more about coverage availability and pricing within your geographic location . | An auto policy covers an automobile , not a driver . If you are not the owner , and dont have any other insurable interest , you can not be named as the insured on the policy . The information about being a loan holder is important . You named to be named on the policy as a lienholder . If you lease the car to someone else than you also need to be named as the additional insured . |
What's The Best Auto Insurance? | The best auto insurance is the one that provides for all of your coverage needs at the price that you are comfortable with . The company providing the coverage is only half of the equation . The other half of the equation is the agent that you will deal with when you have questions or concerns . Price is not everything make certain that you deal with a local agent that you are comfortable with and they will help keep your life less stressful during a loss situation . | Life insurance covers death that is due to accidental causes , such as car accidents or falls . Life insurance also covers death that is due to natural causes , such as illness or `` old age '' . As long as it is not suicide in the first two years , you do n't have to worry about the cause of death when you have life insurance . |
What Is The Best And Cheapest Car Insurance? | There is no such thing as best and cheapest , you will get what you pay for . You should always purchase as much Liability BI or bodily Injury and property damage insurance as you can in the event you cause the accident and injure the other party , their medical expenses will be covered up to the threshold you chose on your policy . If you have assets , consider purchasing a liability umbrella as well for added liability protection . The way to having the least expensive premium is having as many discounts as possible such as multi policy / married / location matters / good driving history matters / continuous liability matters / defensive driver course helps / the type of car matters / if the vehicle is newer , you will want collision and comprehensive to name a few ! | There are a number of insurance companies that offer coverage vor vacant properties , both residential and commercial . Your Insurance Professionl can be a great resource in helping to find the right coverage for you if you are the owner of a vacant building . These specialty policies tend to be more expensive than standard occupied building forms because the risk to the insurance company is greater . |
What Is The Best And Cheapest Car Insurance? | The best and cheapest health insurance will be different for each person . For example , if you are under 25 and have a few tickets , a specific insurer may be the best option . However , if you are married and live in another state , a completely different company may be the best option . To get the cheapest rate , I , as an experienced broker , shop all of the major companies so you can quickly compare the most affordable options . Then , you , or any consumer , can quickly determine the company to apply with and secure coverage . The combination of an experienced broker and top-rated website saves money ! | There are several online brokerage insurance portals that sell life insurance direct to the public or use their own agent field force . Brokerage firms online generally maintain a significant inventory of life insurance companies and spreadsheet them by premium ranking . You 'll have a better opportunity in securing a competitive price . |
Will Homeowners Insurance Cover Mold Remediation? | It may , yes , but it is always best to talk to your Insurance Professional about the specific terms and conditions of your policy . Here in Connecticut , most standard issue Home Insurance policies will provide a certain amount for mold , usually up to $ 10,000.00 . Now here is something that is important to keep in mind . If you do suffer a water damage loss that is covered under your Homeowners ' policy , it is important to have a professional involved in the clean up . Not only will they be able to rid your house of the standing water quickly , but they will be able to determine if the water has infiltrated walls , floorboards etc. . They use industrial strength fans and dehumidifiers to be sure that everything is completely dried and will also employ safe and effective mold remediation treatment to any effected areas . | Who is the best life insurance company ? There really is no `` best '' company , but several very highly rated companies and quite a few other well regarded companies out there , and that 's a good thing . God bless the fact that there are a lot of good companies to choose from . Choice is a wonderful thing . It is good to have choice when looking at life insurance . |
Will Homeowners Insurance Cover Mold Remediation? | That is going to depend on your homeonwers policy and the cause of the mold in the first place . Not all homeowners insurance policies provide mold coverage and coverage is usually subject to the policy deductible . Read your policy completely to understand the coverage provided and any exclusions that may be contained within or contact your local agent to have them go over the policy with you . | Rhode Island is not a community property state , so no life insurance would not be considered community property in the state of Rhode Island . |
What Is A Defined Benefit Retirement Plan? | what is a defined benefit plan ? A defined benefit plan is an employer sponsored retirement plan that the employer bares all the risk of investment . A defined benefit plan provides an outcome for employees rather than a lump sum balancesubject to market risks.A defined benefit plan used to be the norm for retirement programs , now they arerare asmany employers have jumped to 401 -LRB- k -RRB- plans which only obligate the employer to the original contribution . The shift of RISK falls completely on the employee . | No one can get life insurance on you nor can you purchase life insurance on someone else without your knowledge or signature on the life application . You also have to prove `` insurable interest '' between the two parties : policy insured and the policy beneficiaries . In addition , you would also need to determine the amount of coverage though financial documentation . |
What Is The Best Critical Illness Insurance? | The best critical illness insurance is that which has the best features . Some things to look for are : 1 -RRB- How much of the benefit is paid for each illness , 2 -RRB- What is the special limitation period -LRB- how long you would have to wait before the policy would pay after issue -RRB- , 3 -RRB- How many illness are covered , 4 -RRB- Is the policy guaranteed renewable , 5 -RRB- How long is the premium guaranteed , 6 -RRB- Is there a reduction of benefits after a certain age , and 7 -RRB- Are riders offered -LRB- e.g. for accidental death -RRB- . | Dave Ramsey believes that there are 4 must have insurance policies and they are : 1 Life Insurance 2 . Long Term Disability Insurance 3 . Long Term Care Insurance 4 . Homeowners/Renters Insurance . Many people argue about the details of each as well as what company to choose . The bottom line is that there is no set answer for anyone - talk to your insurance agent and decide for you which is the best plan for you . |
What Is The Best Critical Illness Insurance? | There is no one best critical illness insurance policy . To find the one that is best for you , you need to review the conditions covered , the premium you will need to pay , the stability of the insurance company offering it , and the contractual provisions of the policy . | Condo Insurance can be tricky since often an HOA is involved . What first needs to be determined is what does the HOA actually cover . Does the HOA cover any part of the building . If so then we as agents determine what is already covered and look to fill the gaps . I can tell you that the HOA does not cover your personal liability , loss of use , guest medical and personal property so these coverage 's are needed at the very least . You will want to consult with a local independent agent to help you determine coverage 's needed for your condo policy . |
Does Wells Fargo Have Annuities? | Wells Fargo bank refers their business in annuities to many Life Insurance companies . So you are not directly purchasing an annuity insurance contract from them directly . Just like their insurance companies on auto it is brokered threw one of their companies they have established with . But they do have an advantage they have more than one choice | You can easily buy car insurance online and you may save a substantial amount of premium . Rates are usually regulated by the State Department Of Insurance , so an online broker 's rates can not be beat ! As an experienced broker with a top-rated website , we understand how confusing , frustrating and time-consuming it can be to shop for auto insurance online.You will find that claims are handled very efficiently by brokers and Agencies with experience in that field . I base that statement on 32 years of experience . Remember ... when you purchase online , it 's the SAME coverage and benefits you get by going directly to an agent that sells you a policy from that same carrier . The online method is quick and efficient and your paperwork is easy to read and understand . Once again , based on 32 years of experience in the business , I make that statement . By shopping , comparing , and researching all of the major insurers , consumers can pay less for their coverage with reputable companies . There are often many other discounts available that can potentially save hundreds of dollars per year . When you shop with an experienced broker and their website , you save ! Reviewing and comparing benefits helps you find the best policy available in your area . If you prefer working with a local broker , just make certain they are VERY experienced and can shop all of the major carriers for you . Either method will get you competitive pricing . |
Why Does My Auto Insurance Go Up? | Your auto insurance goes up for several reasons . For example , if you add a new car to the policy , or add a teen-age driver , your premiums will increase . Also , if any driver covered on your policy has an at-fault accident , and damages are paid , there is a chance that your rate will increase . However , many policies will `` forgive '' the first at-fault accident , depending on how long you have been insured with that carrier . And of course , as the cost of repair to vehicles increases and we see increases in litigation costs , rates could go up . So ... what do you , the consumer do about this ? Utilize the phrase `` We Shop And You Save . '' That is ... let an experienced broker do all of the hard work for you so you can simply review the best offers . If you decide to apply for a lower rate , the broker and/or their website will be there to help you complete the simple process . | Cheap is a very relative term but generally renter 's insurance is regarded as being a cheaply priced insurance . Relatively speaking to the amount of the value of the items insured against lost renter 's insurance provides a fair amount of benefit for the cost of the premium on the policy . |
Why Does My Auto Insurance Go Up? | In addition to what was stated above , auto insurance can go up due to legislative reform . In some states there is a catastrophic claims division , which will reimburse insurance companies if they have excessive claims . This fund is collected through your auto-insurance carrier , but goes into a state fund . For example , Michigan has the Michigan Catastrophic Claims Association -LRB- MCCA -RRB- , which costs roughly $ 176/yr . per auto . My best advice is to review your bill with your agent and figure out which costs are incurred because of state regulations and which costs come from your insurance provider . Once you have sorted these out you can then figure out if anything can be done to lower your overall insurance costs . | You can find the cheapest auto insurance at your agents office . The cheapest auto insurance is the policy with adequate limits that pays damages that result from an accident . Since this can involve personal injury and property damage , the amount can increase rapidly . Your agent will listen to you , offer sound financial advice and communicate clearly with you and the insurance company . When you have a claim , you will be happy that you have the cheapest insurancethe one that pays ! |
Why Does My Auto Insurance Go Up? | Since I 've been around , it seem like all companies raise rates all the time . It is a good rule of thumb to shop your rates every 5 years . I say 5 years as the next company will give you a better rate since you stayed with your last company for at least 5 years . All insurance companies must file their rates with the states insurance department before they raise them , but they keep going up just like everything else . Keep your driving record clean and your credit good and you should have good rates . | Medicare usually starts at age 65 BUT there are exceptions . Those on disability at any age may qualify for Medicare . You can also delay the start of Medicare until a later age if you wish . it is becoming more common for those turning 65 to accept Part aA of medicare but delay Part B because they have a corporate health plan . Multiple variable which is why it is always good to meet with a professional to review your options . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | My mother is 81 and in good health . I have found a few great companies that offer great life insurance products for people of that age group , to 85 . The fact of the matter is , I bought term insurance on her a few years ago -LRB- before I became an agent and did not know better -RRB- now that she is getting older and the premiums keep increasing on the term insurance I can get various types of whole life insurance on her for a couple of hundred dollars more a month in premiums . However , the policies that I have found are at twice or three times the face amount of the term insurance . So , it is possible . You just have to find an agent that will do the research for you . If you live in North Florida I would love to meet with you and discuss the possibilities . If you live in another state , contact one of the knowledgeable and competent agents on here . From the answers I have read they are very good at what they do . If you live outside of the North Florida area , and still have questions for me please feel free to contact me and I will help you any way I can . | Very generally speaking , if you pay for your disability insurance with your own , after-tax money , the benefits you receive from the policy are not taxable . If your employer paid the premium , or you paid for the disability insurance with income before taxes were taken out , you need to pay taxes on the benefit when used . There are many different scenarios to this question , so consult with your tax attorney for your particular situation . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | Yes , there are many good companies offering guarranteed or express issue final expense policies for individuals at this age . For those that have some medical issues can get modified or graded - benefit policies that postpone the full payout until the policy holder 's third year of ownership of the policy . The traditional polices are offered to the healthy at a reduced premium . | 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 -LRB- Health Insurance Portability and Accountability Act -RRB- , 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 . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | I presume that you are not eligible for Medicare for some reason . You might investigate individual health insurance though with the open enrollment season having concluded on February 15th you would have to have a `` Change of Life Status '' event occur or qualify under the provisions of the upcoming special election period beginning March 15th -LRB- this is for people who were uninsured in 2014 and have just figured out they are going to have to pay the individual mandate tax penalty and that they would be subject to the individual tax mandate penalty for the 2015 tax year -RRB- . If you were to qualify you would have to be prepared to pay a pretty high monthly premium . If you have a business or have a spouse that has a business and some employees you might consider a group health plan . I recently wrote a small group where a man about your age had emigrated from Europe because he had married an American lady about 20 years younger than him and they had a small business with a couple of other employees . that man is now covered as his spouse 's dependent under their small group plan . | A deferred annuity is a type of annuity contract that delays payments of income , installments or a lump sum until the investor elects to receive them . This type of annuity has two main phases , the savings phase in which you invest money into the account , and the income phase in which the plan is converted into an annuity and payments are received . It can be either variable or fixed . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | Yes , there are a number of final expense policies -LRB- $ 25,000 and under -RRB- available for persons who are 81 years old , that do not require any exam . And there are larger policies -LRB- $ 50,000 and up -RRB- that octonegarians can get by taking an exam . Please contact me if you 'd like me to shop a number of companies to find your best rate . | Voluntary Long Term Disability Insurance is a group disability insurance plan offered to employees at group rates . It is usually provided through payroll deductions . Voluntary Long Term Disability Insurance will pay a portion of the employee 's salary to them in cash if the employee is disabled due to illness or injury . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | At age 81 , you 're looking at permanent life insurance programs as term insurance is only offered until age 75 . If you 're looking for a small policy amount -LRB- e.g. $ 10,000 , $ 25,000 , etc. -RRB- , you 'll be looking at final expense life insurance policies . Final expense life insurance is a form of whole life insurance - the premiums remain fixed and guaranteed for life and the policy builds cash value . The underwriting typically consists of `` yes/no '' health questions , a phone interview with the carrier , and a prescription check - these types of programs do not have a medical exam requirement . If you 're looking for more coverage than that -LRB- e.g. $ 50,000 , $ 100,000 , $ 250,000 , etc. -RRB- , you 'll be securing it under a fully underwritten life insurance policy that requires a medical exam . Regardless of which type of life insurance you want to pursue , you should consult with an independent agent who can look at many carriers to compare rates and make sure of what you qualify for so you can get the coverage at the lowest possible cost . I work with these types of programs very often and would be happy to assist . If you would like my assistance , please send me an e-mail via the contact me button next to my name with your name and number and we can go over the options accordingly and any questions you may have . Thanks very much . | That is a great question ! Of course you can , provided you 've either decided to no longer drive , or you 've found and purchased an alternative policy . The penalties for being an uninsured motorist are bad , and the consequences of getting caught -LRB- or worse -RRB- are long lasting . If you 've found a better policy , tell your agent that you want to cancel the policy , as of the day the other one goes into effect . Thanks for asking ! |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | There are a several choices for coverage for life insurance over 80 . For small amounts up to $ 40,000 there are `` Final Expense '' type products that require no exam . For larger amounts there are several permanent products available with varying premiums . Make sure you speak to an independent agent that can provide you with good information at a competitive cost . | It depends on how good your health history and current medical condition is as well as your gender , age and smoking status . If youre applying with a spouse , you can also receive a discount . Heres an example of a 60 year old nonsmoking couple in good health purchasing a long term care policy with an inflation rider in the state of Arizona , i.e. $ 300 a month . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | That is a great question ! And I have a great answer - yes there are companies that will insure you , especially if you are in good health ! You need to be aware that they may not be very cheap , as a great portion of the insurer 's risk is based upon mortality rates and life expectancy , and at 81 , you are in the higher risk end of the spectrum.It is also quite likely that the face value amounts that you will be offered will be relatively small for that same reason . Life insurance is unfortunately one of those things that are cheaper the younger you are when you acquire it , and more expensive as time marches on . The majority of insurers will stop offering policies after the age of 80 , so you will want to look for a trusted agent who can look for a company that will be the best fit for you . They can help you find a policy that may avoid being modified or graded , especially if your health is good , as you mentioned . I hope that helps you , if you 'd like more information , please do not hesitate to contact me , I 'd happily make time to discuss your concerns or questions with you . Thank you for asking ! | The damage to a vehicle caused by vandalism would be covered under an Automobile Insurance Policy under the Comprehensive Coverage section of the policy ; if the policy includes this coverage , the vehicle would be repaired minus the applicable deductible to the Comprehensive Coverage on the policy . Renters Insurance is designed to offer Personal Property Coverage and Personal Liability Coverage for those that rent a home rather than own a home . |
Is There Any Insurance Available For People, In Good Health At 81 Years Old? | If you are in good health , I believe your best option is a good whole life policy for as much as you need and can afford , it will not be very cheap but with some shopping I do believe there are affordable options . The `` final expense '' policies do have some twists if you are not careful . The majority have graduated face amounts and some just refund premiums if you were to pass away in the first few years . Have a family member help you with you decisions . Do n't just take the first `` deal through the door '' . Good luck to you and God Bless you living to 81 years old and in good health . Cheers ! | The IRS as well as the Department of Labor oversees ESOPs . The employee stock ownership plan was established under the IRC section 401 -LRB- a -RRB- qualified defined contribution plan as a stock bonus or money purchase plan as defined under IRC section 4975 -LRB- e -RRB- -LRB- 8 -RRB- to meet regulatory requirements . It is a great option for employees to purchase the business they work for from their retiring employer . |
How To Buy Short Term Disability Insurance? | Short-Term Disability Insurance can be purchased from an agent or independent broker , who can compare plans and premiums from multiple carriers . Plans can be designed to match your requirements and budget by tailoring the a -RRB- benefit period -LRB- 1-5 Years -RRB- , elimination period -LRB- 30-90 days or longer -RRB- , and monthly benefit amount -LRB- normally limited to 60 % of income -RRB- . | There are many different opinions and options for this question . You can go to one of the many quote sites that will give you an idea of cost , however life insurance is one of those subjects wihich many people think they understand well , but do n't . Find an agent that you trust , either from a friend or through your own research . A good agent will give you options to consider that you may be unaware of , and you can benefit from that expertise without cost . |
How To Buy Short Term Disability Insurance? | There are very few companies that sell private short term disability insurance . In fact , that only two that are known to me are Assurity Life and Mutual of Omaha . To purchase their short term disability policies , you could contact our website or any other agency that sells products by these carriers . | 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 . |
Does Health Insurance Cover Psychologists? | Most health insurance plans have psychiatric benefits . Some plans will have limitations on the number of outpatient visits , or limit the number of inpatient days . Some plans , particularly HMO plans , require a referral from your primary care provider . Be sure to use a network provider to minimize your out of pocket costs . | Getting the best term life insurance involves using a reliable agency , getting matched with the best company for your health , getting the lowest price , getting good guarantees , and using a life insurance carrier with a high rating . Your agent can help you with all these . However , if you want to do some sleuthing ahead of time , you can go to websites that offer term quote engines to see what policies you might qualify for . Then go to the home page of the carriers that come up , to find their ratings . That way you will be a knowledgeable consumer who can help your agent get you set up with the best term life insurance for YOU . |
When To Apply For Long Term Care Insurance? | It is best to apply for Long Term Care Insurance before you have any major health problems , or even before your joints start to wear out . Long Term Care Insurance can rate up or decline a policy for things that are not life threatening , but that can increase one 's chances of needing assistance , such as rheumatoid arthritis or osteoporosis . Applying by age 60 is a good idea . | That is a great question , and one I get asked a lot . This is always my answer : Unless you have a great big pile of money hidden somewhere , and can afford to replace all of your things , should they be destroyed or stolen , and cover any potential lawsuits , yes , it is worth the cost . Your landlords insurance wo n't cover your things , and if you ever have to use it , your policy will pay for itself quick . Contact me , and I 'll tell you why you want to ask for replacement value when you do . Thanks for asking ! |
Will The New Health Care Law Save Money? | That is the debate of partisan politics in a world that recruits `` substantial economic experts '' on each side of the argument . But at the end of the day , the math will be the telling factor . Most independent libertarian economists -LRB- which is about the only group not invested in the fight -RRB- lean towards higher premiums for most paying Americans and higher taxes to make up for the predicted short fall by tax payers . | When the guarantee period on a term life insurance policy expires , you have several choices you can make : 1 -RRB- You can continue your coverage , however , the policy becomes annually renewable and the premiums increase each year by a substantial margin -LRB- based on age -RRB- . 2 -RRB- You can terminate the policy and end the coverage . 3 -RRB- You can stop paying premiums and allow the policy to lapse on its own . 4 -RRB- If you still need coverage , work with an independent insurance broker to secure a new policy with a new guarantee period -LRB- either for a set term period or guarantee the policy for life -RRB- - you want to do this before the existing policy 's guarantee period expires . Keep in mind , underwriting can take up to 6-8 weeks to complete so you want to allow enough time to get a new policy in place . # 4 is the course of action most people generally take as you will generally need some level of coverage for the rest of your life , whether it 's to cover a mortgage , income replacement , final expenses , etc. . Send me a private message on here if you would like assistance with your coverage . |
Does Health Insurance Cover Having A Baby? | Most health insurance plans cover the delivery and related expenses of having a baby . Maternity benefits are now mandated by the ACA -LRB- Affordable Care Act -RRB- and any Marketplace Metal plan must cover these expenses . A deductible could apply and there will be some out-of-pocket expenses . Also , if you have a grandfathered plan , it is possible that maternity benefits will not be covered . | 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 . |
Does Health Insurance Cover Having A Baby? | The general answer to your question is `` Yes '' . Certainly all major medical policies issued on or after January 1 , 2014 have to cover maternity as they would any other illness -LRB- generally subject to the plan 's deductible and coinsurance coverage provisions -RRB- . It is possible that a person who has an older health insurance policy that was in effect prior to March of 2010 and that has not been modified since that time is what is called a `` grandfathered '' policy and it might not cover maternity . This would be most likely to occur with someone covered under an individual health insurance policy though there is some chance that it could be in the group setting depending upon the state you are located in and the insurance carrier you are covered with . | As Professionals working in the Financial & Insurance Markets , we do not like to say bad about any company as they all serve a purpose to provide Financial Stability to families at times of hardship meaning in many cases death . Every company has a `` niche '' which they are most competitive with . Nearly all Life Insurance companies have a term portfolio however some companies are less expensive than others . This works for all Life products . If you are looking to market Primerica products the best I can tell you is to do your homework to see if that environment works for you . If you are looking to purchase life insurance , I would recommend you compare with other companies as well , apples to apples to make sure you are getting the value you are looking for . Good Luck . |
Does Health Insurance Cover Having A Baby? | Congratulations ! Great question ! You should check with your insurance company if you got the policy through your workplace just to be 100 % certain , but most all policies will cover most , if not all of your maternity claims . The Marketplace policies , if you purchased one there are required to , another benefit provided by the ACA . If you need any help , -LRB- except babysitting -RRB- please feel free to contact me . Again , Congratulations , and thanks for asking ! | That is an excellent question ! Yes , some do , and it can be long before the insured passes away in many cases . Term life insurance policies have a specific end date , that is stated in the contract . There are a few major companies that deal with senior citizens that advertise a life insurance policy for them that ends at the age of 80 . But because of the slick advertising , many seniors buy it without understanding what happens if they live to be 80 and a day . Whole life policies will last as long as you do . they have an `` endowment age '' that is usually 100 , or 121 years old , and if you live to be that old , it either pays out the benefit to you , or continues at no cost . It is always best to consult with a trusted agent before purchasing any policy . Thanks for asking ! |
Does Health Insurance Cover Having A Baby? | Under the affordable care act , a core of 10 essential health benefits must be met under each marketplace health plan on or off the exchanges . One of these benefits is maternity and newborn care . This includes care women receive during pregnancy , including prenatal care , in labor , delivery and post-delivery , and care for newborn babies . | That is a great question ! They can be , a great investment , depending upon your financial situation . An agent will do what is called a `` suitability study '' with you to determine whether an annuity is right for you . The suitability study is designed to see if the investment in an annuity is a safe investment for you to make - is it financially safe , will it meet your retirement needs , and does it fall within the tolerable amount of risk that you are comfortable with . Annuities are not very flexible for a period of time when it comes to the money that you invest . There are large fees and penalties , and much damage done to the earnings potential if you need to take back money from your annuity in the first years of the contract . This period is called the `` surrender period '' , and may last as long as 10 years . That makes an annuity something that should be seriously considered only if you have some safeguards in place , and have a good cash flow . That said , if it is a suitable investment , then it can be a terrific one to make . Annuities can guarantee an income that you ca n't outlive , and with our increasing lifespans that is a great thing to have ! There are some really good annuity products out there , and the indexed ones have some great earning potential and guarantees . If there are specific questions that you have , feel free to contact me , I 'm happy to help . Thanks for asking ! |
Does A Life Insurance Policy Earn Interest? | A term life insurance policy does not earn interest , either in the cash value or face amount . It does not earn interest on the cash value because there is no cash value in term life . The death benefit is exactly what you purchased , and does not grow due to interest earned . Permanent insurance does earn interest . However , it is not as simple as putting money in a savings account and having the cash grow by a certain percent . A current illustration will show how your premium is applied to the costs in your policy , and how much it will grow at the stated interest rate . | Geico is known for their auto insurance and is a good company . Even though most auto insurance companies will sell you a life insurance policy , it may not be a good strategy to limit your search to them or any one brand . Getting rates for life insurance is easy . You should use a quoter like the one at www.halfquote.com to pull up rates for dozens of companies side by side . Make the companies compete for your business and you will get more coverage for your premium dollar . |
Does A Life Insurance Policy Earn Interest? | There are two permanent cash value life inusrance policies that use interest rates in their crediting method : participating whole life and current assumption universal life.participalting whole life uses a combination of interest rate returns and the return of unused expenses to create a dividend . Current Assumption universal life use interest rate crediting for both their current and guaranteed interest rates . | Employers often offer group life insurance at no cost to employees . Group coverage remains in effect as long as the employee continues working for the employer owning the master contract . Employers offer life insurance and other employee benefit programs as a retention tool . Recruiting , hiring , training and developing productive employees is very expensive . Employee turnover is very costly to employers , so any employee benefit that improves retention may lower overall costs . |
How Much Will My 401K Be Taxed? | It depends on what income bracket you fall into , meaning it will be taxed like ordinary income , but if you take it out before 59 1/2 you will have to pay a penalty and federal and state taxes.Your actual federal tax rate will depend on your ordinary income tax bracket , which is more commonly 25 % -28 % for middle income Americans . PLUS you will pay an additional 10 % penalty AND state income taxes . In short , it is not a savings plan and specifically for long-term , retirement accumulations . If you use it for other purposes , you will lose 40-50 % in taxes.However , upon retirement you will pay only ordinary income taxes , without the penalty very much like you do with your current paycheck . The 401 -LRB- k -RRB- is designed to replace that paycheck when you are too old to work . | Homeowners Insurance policies generally do cover ceiling leaks ; however , one must be cautious on this topic . Primarily , we must discover the cause of loss and make sure that the cause of loss is one of the covered perils on the policy . We must be certain that there were no exclusions on the policy -LRB- i.e. Roof Leaking Exclusion -RRB- . In few situations , a carrier may be willing to insure a home knowing that the roof is not in good condition , it has been known for few carriers to accept a roof exclusion and in this case , the policy would not cover leaks as a result of the known and exluded condition . If the loss is covered , items that will affect the payout of the claim would be Depreciation -LRB- if the policy is not a replacement cost policy -RRB- and the selected Deductible which will be deducted from the final payout ! For information on a homeowners policy , please review the following : WEBSITELINK |
How Much Will My 401K Be Taxed? | Your 401k will be taxed at the same tax rate as your salary is or was taxed at unless the income from your 401k falls below what your salary used to be and that positions you in a lower tax bracket . In that case , your tax would be less because your income would be less . | Yoga is a `` spiritual exerices combined with some physical exercises '' . What `` medically required '' treatment is being provided ? What medical tests are being performed that the doctor and nurse can use to `` treat you '' and how often is the doctor and nurse involved in the yoga exercise ? It would appear that yoga is much like `` cosmetic '' surgery - perhaps you will feel better or look better but there seems to questionable grounds for a `` medical insurance '' policy to provide coverage for |
Is Long Term Care Health Insurance Worth It? | One of the first things to consider in the purchase of any product is the value proposition of the policy offering . Is $ 300 a month on a long term care policy with an inflation rider , for two healthy nonsmoking 60 year olds , based on the average senior couple spending $ 250,000 in medical and extended care throughout their retirement years worth it ? | It does cover cell phones . However , you 're renters insurance probably has a deductible and that deductible will probably be more that the value of your cell phone . If all you lost was your cell phone , then it 's probably not worth claiming . If your cell phone was stolen or damaged along with a lot of other property , then it might be worth claiming . You should talk to your State Farm Agent to better understand your policy . |
Is Long Term Care Health Insurance Worth It? | Is long term care insurance worth it ? Well , most people who purchase long term care do so for a couple of reasons . First the idea of spending down their assets to gain public assistance does n't appeal . Second , they know the Long Term Care Insurance will protect their assets allowing them to receive care covered by their insurance rather than the sale of their assets . | A male and a female age 60 , nonsmoker and in good health with a full coverage and inflation rider from a quality long term care insurance company will pay around $ 300 a month for the max coverage . Age , health conditions , gender and amount of coverage all play roles in the final price tag for long term care insurance . |
Can You Sell A Whole Life Insurance Policy? | In most cases , yes you can sell a whole life insurance policy . It must have a significant amount of cash value built up and a decent face amount to be marketable . There are two types of companies that purchase whole life insurance policies . The first is a life settlement company and the second is a viatical company . These types of companies assess the value of your policy , age and your health in order to calculate a price . Once ownership is transferred the company becomes owner and beneficiary and pays all premiums . | Claiming against someone 's car insurance is relatively easy speaking from experience . In an accident , you should exchange your insurance information which you can have your insurance company take care of the claim or you can reach out to the company yourself although I would recommend against it . It is in your favor if you have the company insuring you to reach out . If you do not have all the insurance information , you can call the common carries giving them the vehicle and name if you have that information . You definitely will need some identifying information otherwise you are just stuck . I would contact your carrier and ask them specifics or reach out to get a free consultation . |
Can You Sell A Whole Life Insurance Policy? | Can you sell a whole life plan ? Well yes you can . There are companies out there that will buy a policy from an individual and continue the policy until that person dies . These companies own the policy and become the beneficiaries of that policy . The former policyholder receives a cash settlement to give up control of the policy . | Disability Benefits are based on your income . Generally speaking , you can get up to about 70 % of your income as a Benefit . In other words , if you make $ 5000 per month , 70 % would be $ 3500 . This is a tax free benefit back to you during the disability period . You can not get more unless your income increases . If you would like a quote specific to your income , do not hesitate to reach out to me or your broker . |
What Are The Odds Of Needing Long Term Care Insurance? | The odds of needing long term care insurance increase as your age increases . As our medical technology gets better and better people are living longer . Long term care becomes almost inevitable . If you purchase the coverage when you are young and in better health you will have a premium that is low and manageable . If you wait until you are older it just may be cost prohibitive at that point . Contact a local agent today to find out what products are available in your area . | In addition to what Bob has said , I would recommend picking up the excellent government booklet named Choosing a Medgap Policy . You can download it free from the Medicare website or order a paper copy free . Your Medicare Insurance broker can supply you with free copies of these as well . The chart on page 11 -LRB- of the 2012 version -RRB- makes it easier to understand what each Medicare Supplement Plan covers . The hardest thing for most people to accept at first is that the Lettered Plan is what makes the difference in your coverage NOT the brand of the insurance company you buy it from . People start out thinking that AARP 's plan is different from Gerber 's plan or Aetna 's plan . It 's hard for them to accept that the brand makes no difference . It 's the lettered plan that makes the difference . Once you choose which lettered plan you want , then you shop the different companies prices on the plan you choose . Your insurance broker should be able to show you the rates for all the companies that you want to consider . |
Does Renters Insurance Cover Robbery? | Depending on your policy yes , most renters insurance covers robbery and theft . It is always a good idea to keep receipts or pictures of any expensive items you have in your home . Some companies will require proof that you actually had the articles you are claiming . Unfortunatelythis is an area where a great deal of insurance fraud takes place so by taking pictures and keeping receipts you are protecting yourself and the company . | Renter 's insurance is an insurance coverage policy type that protects you from certain perils when leasing orrentinganother person 's property . You would purchase this coverage to reduce the risk of experiencing a large monetary loss , such as what you would encounter if you have to pay out large sums of money to another party for damages , injuries , or losses . Please call a local agent to discuss coverage availability and pricing within your geographic location . |
How To Become A Successful Life Insurance Broker? | I find it interesting that no one has answered this question from back in October . Becoming a successful Life Insurance Broker is all about relationships you have with people . I recommend to individuals who want to enter this great professions to have at least 3 months of money in the bank to live on so you have time to build your business . Finding the companies to work with is easy . What you have to work at is working a market you want to get into , and start making connections . You should have a way to get in front of people and stick to it . Whether you are going to walk the street dropping into businesses or using social media you have to have a plan and follow it . I could write a paper on this however I think I nailed this question of how to become successful as a Life Insurance Broker . Find a mentor or contact me . | A traditional IRA is a qualified defined contribution plan that allows you to contribute up to $ 5,500 a year and an additional $ 1,000 if youre over age 50 tax deductible . The account accumulates tax deferred and distributions are taxable at ordinary income tax rates . |
How Do Insurance Companies Value A Car? | I assume you are talking about total loss . Companies have various ways of evaluating a car . One is to use an industry standard pricing system such as Kellys Blue Book . Another is to try to find a comparable car in the immediate market . Regardless of the technique the company uses , the insured has the right to disagree . In most cases the insured has the right to collect an amount from the company and still keep the vehicle . If you can have the vehicle restored for less , then you will have saved money . | Higher income individuals may pay a penalty . In determining your penalty premium , Medicare considers your income from prior tax returns -LRB- from 2 years ago -RRB- . The penalty plus base premium is graduated based on income and can be as much as $ 335 in 2013 . Currently about 5 % of the population pays a Medicare Part B penalty . This figure is expected to rise over the next few years to roughly 14 % of the population . |
Is A Physical Required For Life Insurance? | Most life insurance policies with a face amount over $ 100,000 require a physical , while most policies with a face amount under $ 25,000 do not require a physical . However , there are exceptions to both , and often you have a choice whether or not you want to get a policy that requires a physical exam . | A bell-shaped curve gives you an idea of the distribution of health conditions for a population . A very few are out on the edge of the curve and as you move to the middle many more qualify . That is what happens with underwriting . The rates are determined for the broad center of the curve . A few are somewhat better and a very few are truly exceptional . |
Which Small Business Retirement Plan Is Right For Me? | The correct plan for your business is determined by a number of factors . Here are some of them ; How many employees in the business ? How many employees are family ? Is the business profitable and do employees earn a good living ? Do the owners want a maximum contribution plan for themselves . Are there key employees besides the owners ? How old is the ownership and the employee population ? And there are more questions ; How profitable is the company and how long has it been profitable ? And so on . So whether you put in place a 401k , profit sharing plan or defined benefit plan , these questions need to be answered . | Five reasons Whole Life Insurance may be for you : 1 -RRB- You want to buy your life insurance one time in your life and never have to worry about it again . 2 -RRB- You want a policy that will have cash value so you can `` borrow from yourself '' in the future . 3 -RRB- You want to be sure your policy will be in effect when you die , even if you live to a ripe old age . 4 -RRB- You want a policy that you can have paid off by the time your retire . 5 -RRB- You want a policy that will give you something back if you decide to drop it later in life . Five reasons Whole Life may not be for you : 1 -RRB- You ca n't afford it at this point in time -LRB- you could get Term now and buy Whole Life later -RRB- . 2 -RRB- You have a temporary need and will not need life insurance after that is over . 3 -RRB- You are young and want a vehicle to aggressively save for retirement -LRB- an indexed or variable policy could work better -RRB- . 4 -RRB- You want a permanent policy but do n't care about cash value -LRB- a guaranteed UL may be cheaper -RRB- . 5 -RRB- You have all your financial bases covered in other ways . |
What Is Meant By Term Life Insurance? | Term life insurance is life insurance that will end after a certain length of time . Some Term Life Insurance policies will automatically renew at the end of the term at a much higher price than before , and can then go up in price every year . With other Term policies , you must elect to pay the new , higher premium when the level period ends . Either way , the time of level premium ends at the end of the term . | Your Medicare supplement plan can be switched at any time subject to rules for your particular state . Some states such as CA have the birthday rule that allow you to change plans every year on your birthday without medical underwriting . Other states such as MO have a similar rule for you policy anniversary . So there is no single answer that applies equally to everyone . |
How Much Does Renters Insurance Usually Cost? | On average a renters policy in Fresno , CA issued by my office costs around $ 135 per year . That really provides little useful information . Contact an insurance agent . If you dont know one , ask for referrals from friends , relatives and colleagues . The agent should listen to you , provide sound financial advice and communicate clearly with you and the insurance company . | To determine the value of a travel insurance policy review the coverage that you currently have . Some people have coverage that extends to the locality where they live , or the state in which they reside . Coverage outside of that specified area can be highly limited . The issue becomes more severe with most plans when you travel overseas . If your current coverage is inadequate to cover potential difficulties secure a travel insurance policy . Personally , I travel overseas frequently and never purchase travel insurance . |
How Much Does Renters Insurance Usually Cost? | Good question . Renters insurance covers your rented home , appartment or cond . It cost on average about $ 8 - $ 15 a month depending on how much personal property you have to insure . Most Auto insurance company offer it and give you a nice discount for having auto and renters insurance with the same compay . Good Luck | This is a great Question . Medicare itself does not cover a health club membership . However some medicare supplements and medicare advantage plans will include a health-club membership and sometimes at no cost . If you are new to medicare , an agent can help you with all your options . I sit down with my clients and educate them on medicare and how it works as well as their options as far as plans to accompany their medicare . |
What Insurance Will I Need In Retirement? | 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 do n't need to . | Most people will automatically receive their Medicare card a few months before they turn 65 . You will be automatically signed up for Part A and Part B in most situations . You can decline or postpone Part B if you wish . The only reason I can think of for postponing Part B is you have existing coverage through an employer group health plan and that plan is primary . |
What Insurance Will I Need In Retirement? | When youre asking what insurance do you need when you retire , we need to know if youre asking about Health Insurance or are you talking about protecting your family from loss . If your question pertains to your health insurance because most of us loose that when we retire then you have two options . You can look at either a Medicare Supplement , which works similar to car insurance and what I mean by that is you can buy a plan with no deductible and pay a higher premium , that will cover all of your doctor and hospital expenses or you can assume part of the risk and pay a lower monthly premium with a deductible or co-pay and it will still cover your doctor and hospital expenses . Medicare Supplement will run you anywhere from $ 155 to $ 200 per month so around 2-3 thousand dollar per year to see your doctor 4 to 5 times a year . Some people like this option because their monthly cost is set even when they have a bad health year . The other option you have is to look at a Medicare Advantage plan if its available in your area . Most plans have either low or no monthly premium and small co-pays when you see your doctor or are hospitalized . All plans have a maximum out of pocket to protect you for bad health years so if youre like the average senior and you see your doctor the 4-5 times a year , your health insurance cost will run you under $ 100 . If you were asking about insurance to protect your family from loss then the answer get more complicated because we have to look at what insurance you already have in place , if you have a pension are you looking at taking a full or partial , do you have a 401K , if married when is your spouse going to retire and if it would be better to take their social security now or wait . With out knowing the answers to some of those questions answering that question would just be a blind shot in the dark . | It depends on the attitude of the health care provider . Some health care providers has a `` billing clerk '' that will greet you and say `` your deductible amount is $ 250 and that must be paid now '' . Other providers allow you to come for the treatment and then bill you for the deductible after the insurance company has paid . Do not hesitate to discuss this question with the provider and if they refuse to treat you with dignity and respect then find another provider . |
What Insurance Will I Need In Retirement? | That is a great question ! I wish you 'd been a little more specific , but here 's how I 'll answer you : 1 . -RRB- As long as you are driving , then have auto insurance . If you are finding it difficult to drive , and near misses becoming more frequent , either consider stopping , or be sure to have a good comprehensive coverage policy . 2 . -RRB- Have a good medi-gap plan , to fill in what medicare wo n't . You will need it , and a dental plan also , since medicare wo n't cover much dental work . 3 . -RRB- If you do n't have dedicated savings set aside for the cost of your funeral and the replacement of your income , then a life insurance policy is a must . If you 've got a plan in place and your finances squared away , maybe this is n't such a need , but if you 're in the 99 % , or would like to pass on some tax free wealth to loved ones , have a policy . 4 . -RRB- if you plan on staying in your home , then homeowner 's insurance is a must , if downsizing , or moving into an apartment , then a renter 's policy . Depending upon your situation , there could be other suggestions I 'd make for you , but these are the basics . I hope that answered your question , thanks for asking ! | Being divorced myself , many years ago , I was required to have life insurance on myself for the benefit of my son , ordered through the courts . Today , I like to recommend looking at one of two types of insurance : the first being a term policy with a Return of Premium -LRB- available on a 20 or 30 year term -RRB- so when the kids are out of the house , you get all your money back but if something happens , the death benefit is there . The second is a permanent policy which you can change the beneficiary later . This keeps a policy in place after the kids are old enough where the life insurance is not required any longer . Take a look at your immediate needs and goals along with your long term goals if you have the time to do that during this process . |
What Insurance Will I Need In Retirement? | Retirement doesnt change the nature of many risks faced by an individual . If you operate an automobile you will want sufficient insurance to meet any anticipated loss . It is important to remember that when you experience an uncovered loss and are retired the money to cover that loss will come from your retirement savings in most situations . Be sure to carry the highest possible liability limits . Consider an umbrella policy . If you own a home you will want sufficient insurance to protect valuable assets against loss . This is also a good time to increase the limit of liability insurance because a lawsuit could ruin your retirement plans . As people age they tend to acquire inherited property . That property needs to be reviewed and insured as appropriate . There are few of us that actually outgrow our need for life insurance . Our death is going to have a financial impact on those we love . To that extent consider permanent insurance . Single premium life insurance can play a particularly helpful role in paying final expenses but also can be used to establish bequests . Many retirees carefully protect their savings so they can pass something to their heirs . It might be beneficial to establish those gifts through life insurance and thus be able to spend freely the money that remains . Life insurance is also needed if the death of one spouse will have a serious impact on the retirement income of the survivor . Sometimes it is appropriate to select a life income option on a pension plan or annuity and then purchase life insurance to make up the loss of survivor benefit . Many retirees are concerned about charities and life insurance is a wonderful way to handle those interests as well . The most ominous issue for most retirees is long term care . Studies show that these expenses are one of the top concerns among retirees . With the increase in longevity comes an increased possibility of having a long term care need . Considering long term care insurance in a retirement budget is important . Health tends to decline , not improve with age . One option available is to take advantage of the Health Savings Accounts typically offered by employers who are enrolled in their companies high deductible plans . This tax incentive allows the individuals to contribute with pre-tax dollars and enjoy the gain on investments held in the account tax-free . Employers are often linking the HSA to the retirement program which helps employees understand that they can use the account to accumulate money for their medical needs in retirement . Some people will accumulate a substantial amount . Since these funds are not subject to required minimum distributions at seventy and a half they can continue to increase in value until needed . Because Medicare doesnt provide complete medical coverage most retirees purchase a Medigap supplemental insurance policy from a private insurance company . State administrators are involved in the coverage that these policies provide and sometimes in their pricing . Another form of insurance available to seniors is longevity insurance . This is effectively a deferred income annuity which isnt means tested until age 85 . Traditional Long term care insurance should not be overlooked . While the cost is subject to a great deal of debate the alternative is to assume the risk personally . Hybrid life and annuity policies can provide long term care coverage under certain conditions . In retirement expenses continue and retirees are often called upon to select between their own needs and the wants and desires of heirs . Anything that can be done to fence off expenses can make difficult decisions easier . | Any person is dependent on an income should look into disability insurance . While you might have substantial savings , the average long term disability claim is 31.2 months -- you do n't want to drain your savings just because you 're sick or injured . Often times , businesses need to purchase DI on a specific employee so that their business can still function if that pivotal team member is unable to work . DI is peace of mind ! |
What Insurance Will I Need In Retirement? | What insurance you need in retirement depends on your individual situation . There are a number of things to consider . With your driving habits changing reviewing your automobile insurance could result in savings in premium . What group coverage if any will continue in retirement ? What gaps need to be addressed ? Conserve wealth for your legacy ? Money for your favourite cause ? Grandchildren ? Income for loved ones ? An overall review is recommended . Retirement has quite a few moving parts . You will find the retirement checklist helpful especially if you are from Canada WEBSITELINK If you have any questions please do not hesitate to contact me . | How much does Medicare cost is a tad subjective , but I 'll try . You 've paid in to Medicare throughout your working carrier so part `` A '' is picked covered . That 's your inpatient care , somelimitationsapply . As soon as you retire and are not covered by private insurance or employer coverage , you 'll be offered part `` B '' from SSI which covers 80 % of your outpatient care , this year cost $ 99 . / month , higher if you made asignificantincome.You also need your prescriptions or pdp . Drug cards start at about $ 10 . / month this year increasing by what plan covers your needs . I just summarized Medicare as it is offered tobeneficiaries . Youcouldchoose aMedicaresupplementalplan . choose the one that best suits your needs . Abenefitrich plan could run about $ 150/mo but would include the part B cost mentioned above . Still need that pdp card . You could choose aMedicareAdvantage plan that tire all your needs into one policy and could cost you $ 0 - $ 100 . / month depending on your location and options you choose . Lastly , you can learn much by going to www.medicare.gov and reading for your self . Medicare Insurance agents are there to assist you and are compensated by insurance companies to help you select and enroll . I hope this has been helpful |
What Does It Mean When A Life Insurance Policy Endows? | This is the point where a life insurance policy pays its death benfit wether you live or die . Most life insurance policies today do not endow until age 120 . There are still some policies that will endow sooner , 20 or 30 years . Endowment policies used to be very popular but I have not seen too many lately . This is not to be confused with policies that are Paid up at a certain age or period . | Most people will enroll in Medicare when they turn 65 . Part A is premium-free for most individuals because you 've been paying FICA taxes during your working life -LRB- you need 40 quarters/10 years of working life to qualify for premium-free Part A -RRB- . Part B requires a monthly premium -LRB- $ 104.90 in 2014 - can be higher for individuals in higher income brackets - figure based on your modified adjusted gross income from your tax return from 2 years prior -RRB- . If you 're still working and have group coverage , you can elect to postpone receiving Part B until you 're ready to come off the group plan . When you 're ready to come off the group coverage , you 'll have a special enrollment period to enroll in Part B . If you do n't do it in this window , you will have to wait until the annual general enrollment period -LRB- January 1-March 1 -RRB- - please note , if enrolling during your general enrollment period , you will have a July 1 effective date . When you first enroll in Part B , you will also trigger a six-month open enrollment period to buy a Medicare supplement plan with NO MEDICAL UNDERWRITING . This is THE BEST time to buy a supplement plan - plan F is the most comprehensive plan . If you have any questions about your coverage or would like to review options for a Medicare supplement plan , please send me a message by clicking on the `` contact me '' button or call me at 703-665-9133 . |
How Much Is Health Insurance Per Year? | The average cost in the country for a health insurance plan is $ 328 per month -LRB- translating to $ 3,936 per year -RRB- - however , this is only reflective upon a silver level plan -LRB- not all 2014 state figure averages are available yet -RRB- . While you can try to come up with an `` average '' cost , there 's too many factors that go into premium pricing to say how in relation that compares to you . In short , an `` average '' premium is a rather useless figure to the individual . It 's only representative to a large group - you could have people paying a small nominal amount -LRB- after factoring in subsidies -RRB- per month to several thousand dollars per month . Even for that there 's a ton of information to sift through to get an accurate representation . Under the new Affordable Care Act , you have the options for bronze , silver , gold , and platinum level plans -LRB- as you go up in metal , the price goes up , but provides better benefits -RRB- - some areas also have a catastrophic plan available . In addition , your age is a big factor as well . The younger you are , the cheaper your premium - the older you are , the higher your premium . Also , if you use tobacco products , your premium can be increased up to 50 % as well . You may be able to qualify for a subsidy that can be used to reduce the cost of your health insurance premiums . You may also have options for group coverage through your employer.It 's important to compare these factors - I always recommend consulting with an experienced broker . We can help you determine the plan that 's going to be most suitable for your needs and budget . Please let me know if I can be of further assistance . Thanks very much . | The Best Type of Retirement Plan is the one suitable for you . Suitability is gauged by creating a personal financial profile , developing a psychological risk tolerance and understanding your economic goals . Once thats established then you can decide if youre going to use qualified or non-qualified plans , conservative , moderate or aggressive investments and plot those determinations on your retirement start date and life expectancy . |
How Much Is Aflac Short Term Disability Insurance? | Unfortunately , you are not able to purchase Aflac short term disability insurance as an individual . To buy Aflac 's short term disability coverage requires that you are employed by a business that offers it , and then it is paid for by payroll deduction . You would need to contact the business you work for to get the rates for this insurance . | Yes , the Affordable Care Act guarantees insurability with 2014 Health Insurance Plans regardless of past or present health history or status . Plans can be purchased on or off the federal Health Exchange . Although all 2014 plans have metallic names and contain the Ten Essential Benefits mandated by law , they may differ in terms of deductible , coinsurance , size of network and prescription coverage . |
How To Compare Health Insurance Options? | Comparing health insurance options the right way is critical , if you hope to maximize your federal subsidy -LRB- if eligible -RRB- and select the most cost-effective plan from multiple carriers . During Open Enrollment , of course , there are no medical questions and pre-existing conditions are covered . The key is quite simple . Let an experienced broker help you find the best rates and the best coverage . You 'll save time and money ... and a lot of it ! LIVE answer provided by : Ed Harris - Premier health insurance broker for 33 years and owner of several top-rated healthcare websites . | Premiums paid into a life insurance contract expense the policy costs and then apply a crediting method , interest rates , indices or market equities and/or bonds resulting in the net cash values or cash value account . And depending upon when you access cash values there may be surrender charges resulting in cash surrender account . |
How To Compare Health Insurance Options? | This can be a very difficult question . There are many different plan options available , and which one is best for an individual person is something that can be discussed for hours . In general , PPOs are more expensive than equivalent HMOs , but you have more choices for which doctor to see . If you have a specific health condition , some plans provide additional benefits for that . The best thing you can do is discus . Your choices with an independent broker . If you are getting your insurance through work , your HR department should be able to assist you . | I am not clear on your question but if you mean you as the tenant invite quests over say for dinner and they are injured you could be held liable and the renters policy would defend you . Also the guest may have some medical coverage under the guest medical portion of the policy . However if a guest is visiting and say for example their items are stolen then there is no coverage for the guest . The guest is responsible to have their own insurance for this . |
Does Medicare Part D Pay For Viagra? | No , the Centers for Medicare and Medicaid services does not consider ED -LRB- Erectile Dysfunction -RRB- drugs as medically necessary so they are not covered . I recommend locating a drug discount plan that will provide a discount on those drugs.Possibly your physician/urologist/pharmacist could have information on discounts available for this type of drug . | A life insurance broker is a life insurance agent who is appointed and contacted to sell life insurance with multiple insurance companies . Such agents are independent meaning they are not required to place all business with one insurance company . A life insurance broker can `` shop the market '' for the client to find the right policy and premium to meet the client 's needs . |
Does Medicare Part D Pay For Viagra? | No , Medicare does not pay for Viagra in Medicare Part B or Part D. Erectile dysfunction drugs such as Viagra or Levitra are not considered medically necessary by the Centers for Medicare and Medicaid Services , and thus are not covered by Medicare . There are some drug discount plans that will provide discount on those drugs , but not through Medicare plans . | In order to provide a level death benefit for a level premium , whole life insurance policies accumulate cash value to offset the increasing cost of providing coverage . The companies are willing and bound by contract to exchange their promise for coverage for the cash value of the policy . That cash value can be received in several ways and need not be a lump sum . |
What Information Is Needed For Homeowners Insurance? | A lot ... but your local independent agent can help you with the completion of the required information . Here are some examples of what is needed . -LRB- List is not all inclusive . -RRB- Basic info about the prospective policyholder : name , address , age -LRB- for possible Senior Discount -RRB- Mortgage holder info Year built , type of building construction , roofing type Square footage Use : full-time dwelling , seasonal usage only , etc. . Protection Class -LRB- Agent can provide based on location -RRB- Proximity to fire dept and hydrants Wind coverage needs in some States Protection/Security devices : Smoke alarms , central station monitoring systems for fire , smoke , break-ins Deductibles desired/required Swimming pool ? Protection from accidental entry ? Trampoline ? Types of playsets on premises ? Types of animals -LRB- Some are excluded since a homeowner policy also provides liability coverage and animal bites to others are strict liability issues . -RRB- Again , not all encompassing by any means but it is not as difficult as it might seem to provide all of the needed information , especially with the help of a local independent insurance agent who should already be familiar with the territory and can make the application process flow . | I do n't know what a lot of doctors think about Humana . Humana offers Medicare Advantage Plans -LRB- Part C of Medicare -RRB- . Part C allows insurance companies like Humana to provide Medicare benefits . They are managed health care plans such as HMOs and PPOs . Since they are managed care plans they have networks -LRB- doctor and hospital -RRB- where they want you to receive your medical care . Medicare Advantage Plans must offer the same benefits as Original Medicare but they do not have to cover every benefit the same way . These plans can have higher out-of-pocket costs than Medicare for some benefits and are required to limit out-of-pocket cost to no more than $ 6,700 in a calendar year . Some doctors may not like to work with Humana for their Medicare patients and would prefer to use Original Medicare plus a Supplement . |
Which Type Of Life Insurance Is Best? | The best life insurance is that which is in force at the death of the life insured . The issue is that term life insurance usually expires before the insured does . So , permanent forms of life insurance are preferred . In general , consider whether your protection needs are temporary or indefinite . Temporary or finite needs of less than 30 years can be met by term life insurance for periods such as 10 , 15 , 20 or 30 years . The coverage is surprisingly affordable -LRB- dollars per day -RRB- . When the policy expires , coverage ends . To prevent that , either consider permanent -LRB- cash value -RRB- life insurance now or in the near future to ensure you do not outlive your life insurance . Meet with a life insurance professional who can analyze your situation and recommend exactly what you need . | Medicare Advantage is a private system that is not anything like original Medicare . Providers file claims with your insurance carrier , not Medicare . If there is a dispute , you deal with the carrier , not Medicare -LRB- except in extreme situations -RRB- . If you enroll in an Advantage plan , make sure you understand how the plan works . Your out of pocket and out of network expenses can catch you by surprise if you are not cautious . |
Which Type Of Life Insurance Is Best? | Which Type Of Life Insurance Is Best ? Whether youre looking for term or permanent life insurance coverage for single or survivorship life , even cash value policies for tax advantaged incomeyou need to shop to secure the best policy that addresses your specific needs . And to that point : Your age , gender , smoking status and health condition dictates the price youll pay for life insurance coverage . Each company accesses the potential insured differently . Sometimes benevolent underwriting companies treat health conditions more favorably than others . Another consideration is the financial reason for purchasing life insurance : indemnification , income or inheritance planning strategies . There is just no one life insurance company that is the best in all three planning categories or health conditions . We carry the full inventory of the spreadsheet brokerage market that occupies the top rankings in each category . And we can show you that . | The # 1 item in considering long term care are the policy definitions on assisted home living and nursing home confinement . Policy provisions attempt to address the benefits of the contract Understanding those benefits can help you select the right long term care insurance policy and measure it 's value for the premium you 'll pay . |
How Safe Are Annuities To Invest In? | There are a variety of annuities . Fixed annuities offer guaranteed interest for the life of the contract . They offer a lifetime of monthly payments , regardless of how old you become . It is pretty difficult to get anything that will do that . Other annuities can be a bit less guaranteed in exchange for an opportunity to participate in market based products ; however many of these have spectacular guarantees as well . | Renters insurance does cover personal property up to the limits specified within the policyfor covered perils only less your deductible . Your best bet for coverage for your cell phone is to speak with your cellular carrier most offer coverage that will protect you better than what is provided through your renter 's insurance . Read your policy completely to understand the coverage provided or call your local agent to discuss coverage offered and exclusions on the policy . |
How Safe Are Annuities To Invest In? | An annuitycontractis only as good as theinsurancecompanywho issued the policy . So ratings andfinancialstrength are important . There are three types of crediting methods for tax deferred annuities : fixed interest rates , indices and separate subaccounts.Separatesubaccounts are used in variable annuities and can lose money.Product suitability and selection is determined by your financial profile , risk tolerance and money goals . Once you determine these critical components as an annuity purchaser , you can select the best annuity suited for you . | There are two basic types of life insurance : Term and Permanent . Term insurance is for temporary needs -LRB- e.g. paying off your mortgage , getting your children through college , etc -RRB- . Permanent Insurance comes in Whole Life and Universal Life . It is for needs that have no end -LRB- e.g. funeral expenses , leaving money to grandchildren , etc -RRB- . Once you identify your need -LRB- s -RRB- for life insurance , an insurance professional can help you determine what kind of life insurance will best work for you . |
Can I Apply To Medicare Online? | Yes , you can apply to Medicare online . Start by going to this website : WEBSITELINK It will offer explanations about Medicare and help you know when to apply , as well as provide an online form . Be aware that there may be times when the website is undergoing maintenance and unavailable . | -- > Normal 0 I feel its important to add to this discussion that should you be driving someone elses car with their permission and be involved in an accident , the car owners insurance would be primary -LRB- first to pay -RRB- but insurance coverage you carry on your car , if you have one , would be excess . In other words , if your limits were greater than those covering the borrowed car or your coverage were broader , your coverage should be available once the car owners limits are exhausted . |
What Is Supplemental Life Insurance? | Supplemental life insurance is optional life insurance offered to employees beyond the amount provided to them by their employer . While group plans do not have medical requirements for life insurance , when you purchase supplemental life insurance through your group plan , there will be medical underwriting involved . If you are ineligible for supplemental life insurance through your employer 's plan , you still should be able to buy some type of life insurance in the private market . | Yes , Life Insurance does cover natural death . When you fill out a life insurance application , it will ask about certain health conditions -LRB- unless it is a guaranteed issue policy , which does not ask about your health -RRB- . If you answer those questions truthfully , and take the required exam , and are approved for your policy , your policy will pay the death benefit even if you pass away from an existing health condition . |
What Is Supplemental Life Insurance? | Video Transcript : What is supplemental life insurance ? Supplemental life insurance can be extra insurance that you have above and beyond either your group plan at work or individually-purchased life insurance . If you purchased this and you need more , some people look at supplemental life insurance to augment what they already have . You may want to look at this in 2 ways '' ` Would I like to have more coverage or would I like to have a supplemental retirement income plan , an extra cash value contract , that can generate withdrawals to basis and policy loans to gain tax-free , as long as I keep the policy in force for the life of the policy insured ? ' If I 'm looking at it as a supplemental income play or I 'm looking at it as a supplemental death benefit , supplemental life insurance can be a great adjunct to what I already have , either by group or by my individual purchase . | If you have full coverage which includes Comprehensive or Other than Collision then the answer would be yes . Comp or OTC covers any damage not related to a collision . This includes hail , fire , animal hits , glass breakage , vandalism , or other perils not related to normal wear and tear or road hazard such as pot holes . If you have a specific question on whether or not something is covered always call your agent first before calling your company . He can advise you whether or not it would be to your advantage to report a claim . |