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What Does Renters Insurance Cover In Iowa? | Renters insurance in Iowa is a tremendous value for the coverage you get . While policies from different insurance companies vary slightly , the basic coverages are very similar . The primary coverage pays for damage/loss to your personal property and pays for injury or damage you cause to others or their property . To start , you need to add up the cost to replace all of your personal property -LRB- clothes , furniture , wall hangings , books , CDs , personal records , etc. -RRB- and that is the amount of insurance you need to purchase . In most cases , the personal property items are covered while inside your rented unit and while with you away , however there may be some limitations to coverage while away from your unit . You 'll have to look at specific policies to know that . Liability coverage is very important because it pays if you are found to have injured or damaged other people or property , unless that injury or damage was caused by a motor vehicle , in which case your auto policy handles it . Liability coverage under the Renters policy protects you if someone gets hurt in/on your rented property , but also from damage you cause while out and about . A common example is you hit someone with an errant tee shot while playing golf . One thing to remember is that you want to make sure you get your personal property covered for replacement cost . If you do n't you wo n't get much for property that is over a couple years old . | Yes . Emergency room visits are covered under all health insurance plans . You would still be subject to paying your deductible , coinsurance , and/or copayments , but the carrier will pay their share of the expense as cited in your policy . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much . |
Does Geico Offer Life Insurance? | It appears that they quote primarily term policies . Also a small Guaranteed Issue whole life policy . It also appears they offer the same plans most independent agents have . The biggest difference working with an internet site or call center and with a personal Life Insurance agent . Is just that , an independent agent is your agent . The agent or customer service person at Geico works for them . You talk to whoever the computer transferred the call to . Pricing is the same whether you go the internet call center route or you use a personal agent . Many of us have serviced the same clients and their families for 20 to 30 years . They know us and we know them . When it comes time to re quote them we have the records . If something changes with their company we contact them . When it comes time for their children to buy their own plans we take care of them . If they die we take care of the claim for the family . With most call centers you get whoever answers the phone or are given the 800 number to the Insurance company . Being an Independent agent since 1985 I may be a biased . ;-RRB- | The face value of life insurance is the original amount of coverage purchased , minus any loans , or adding cash value that accumulates beyond the original face amount . In term insurance , the face value is usually the same as what is paid out at death of the Insured , or the `` death benefit '' . In permanent insurance , the face value may be higher or lower than the original face value . |
Does Geico Offer Life Insurance? | Geico is primarily an auto insurance company . They would be lumped in with State Farm , Allstate , Farmers , etc. . All of those company WILL sell you life insurance . And they will pay the claim when you die just like all life insurance companies . BUT a wise consumer should always shop thier life insurance with companies that are focused only on life insurance . You will usually find much more attractive choices . Do n't select life insurance by brand name . That 's the biggest mistake you can make and it 's why companies advertise so much . Select by rates and policy features . | I have seen auto insurance rates range from about $ 30/mo with liability only coverage all the way up to the skys the limit . Your rates are going to vary based on many factors , such as driving record , age , geographic area , coverage requested ; just to name a few . The best thing that you can do is contact your local agent and they will help direct you to a plan that best fit the requirements that your are looking for . |
What Life Insurance Can You Borrow Against? | Only permanent cash value life insurance policies have cash values . Borrowing policy loans have interest charges associated with them from zero net cost loans to direct recognition loans . And keep in mind that policy loans are only free in a modified endowment contract that is kept in force for the life of the insured . Another option of accessing cash values may be withdrawing basis or contributions , but the force out rule governs the first 15 years of a permanent life insurance policy and may be subject to a taxable event . Before moving forward with any of these ideas consult your tax adviser . | Why buy whole life for a child ? Well I guess I can tell you why I bought whole life for my kids . In no particular order or rank , I bought whole life because that is the cheapest if will ever be , those policies will become cornerstones of their financial lives . Much like buying a piece of property they now have something to build on . They have future guaranteed insurability with these policies as well What that means is they ca n't be told `` no '' by the insurance company , even if they are no longer insurable . Sort of like a stock option . And finally for this post if either of my kids were to die before me I would be devastated . I would be crushed as I have great kids . So insurance on them would help me get through their passing by paying bills that still need to be paid . I am planning for their future living with these policies and accepting the aspect of the possibility of their early passing and the help they would provide . I could never imagine having an argument with a spouse over what headstone to buy . Whole life on a child is an investment in their future , not just their death . |
What Life Insurance Can You Borrow Against? | You can borrow against any life insurance policy that has a cash value built up in it . This can be Whole Life , Universal Life , or Indexed Universal Life -LRB- IUL -RRB- . Some people use IUL by putting a large amount of money into the policy while they are younger , then borrowing from their policy when they are older for an income stream during retirement . | The # 1 risk in retirement is human longevity . The longer we live , the increased risk of running out of money , especially as we grow older with assisted living care and/or nursing home confinement . Long term care insurance can mitigate those eventualities by paying premiums to protect the economic erosion of elder care . |
What Life Insurance Can You Borrow Against? | You can borrow against a whole life policy , which typically has a guaranteed cash value . This amount starts slowly -LRB- on most policies -RRB- and gradually increases each year . Additional dividends may be paid on a participating policy and they can also be borrowed or withdrawn . There will be specified interest rate charged to your loan amount . Because of the complexity of withdrawing cash from a contract , it is always best to consult an experienced broker or a CPA to ensure you are making a wise decision . | An important question to ask is what the ceiling leak sudden and accidental ? For example did a storm blow through causing the ceiling to leak . If this is a case you should have coverage . However if this is a long standing problem due to wear , tear anddeteriorationmost likely you would not be covered . Talk to your local agent to discussthespecifics of your potential loss . |
Is Medicare Deducted From Pension Payments? | Medicare Part B is typically deducted from your social security check . Your Medicare Supplement premium is typically set up as an automatic payment between the insurance carrier and your checking account . You may still be able to mail in your payment but most carriers would prefer you to set up the automatic payment . There is an advantage for you in doing this . Medicare Supplement Plans are `` guaranteed renewable '' which means the only way the insurance carrier can cancel your plan is for non payment . | The first most obvious avenue would be to have you added to your parents or guardian 's policy . If this is not possible then I would speak with the agent that handles your parents or guardian 's policy . If you can not do either of the previous then I would suggest contacting local agents or seek out coverage through a carriers website . |
Is Gap Health Insurance Worth It? | An important question in view of the growth in high deductible health plans as well as the growing number of health plan designs doing away with office visit and prescription drug copayments and making such services subject to the plan deductible and/or co-insurance . The trend is clearly for higher out-of-pocket health care expenses for many people . Properly designed GAP policies can help address many of potential medical out-of-pocket expenses a person might encounter . Poorly designed GAP policies can still leave the person with substantial out-of-pocket expenses . There are a wide variety of GAP policies currently available with more to come I am sure . The value and cost of a GAP policy will vary depending upon the type of coverage gap -LRB- s -RRB- you are trying to fill or minimize , the premium cost associated with the GAP policy , and what is covered under the GAP policy . Each individual will have to make a risk determination as to whether the amount of financial exposure is great enough and the probability of incurring covered claims is great enough to justify the GAP plan 's premium payment . Someone with office visit/urgent care and ER & prescription drug copays , a $ 1000 deductible and a $ 4000 out of-pocket maximum probably does n't need a GAP policy . On the other hand , someone with $ 6350 deductible and a two office visits/yr covered at a $ 50 copy - that person could probably use a GAP plan . Seek out an experienced , qualified health insurance broker to help you make the GAP policy decision and to find the GAP policy best suited to your needs if a GAP policy is an answer . | There is no one top rated life insurance company , but every life insurance company has the chance to earn the top ratings from several different rating companies . That being said , only a small % of companies get the top rating . To find a company 's rating , you can go to their website and hit the `` About Us '' tab . The main rating companies are AM Best -LRB- for which A + + is their top rating -RRB- , S&P -LRB- for which AAA is highest -RRB- , Fitch -LRB- also uses AAA for best rating -RRB- and Moody 's -LRB- Aaa is their top rating -RRB- . |
How Much Does It Cost To Add A Teenager To Auto Insurance? | Good Question your teen must have a driver license . Some companies have better rate than other for young drivers and give discounts such as good student , teen driving education and other discount . Check with your current provider and also call a local insurance broker who can shop around for the best rate for your new driver . | Car insurance will cover your vehicle if you hit a curb . However , assuming you have collision coverage , a deductible will apply to damages to your vehicle . Typically , the deductible is between $ 100 and $ 500 . Damages to the curb -LRB- which should be nominal -RRB- would be covered under the liability portion of your policy , and more specifically , the `` property damage . '' Your policy should easily cover all of the damages . Before filing the claim , it 's wise to check with auto insurance experts such as us , or your local broker . |
How Much Does It Cost To Add A Teenager To Auto Insurance? | Any licensed driver that resides in your household must be included on the auto insurance policies written on cars belonging to your household . There isnt an option . A licensed driver can not sit on a shelf and not be rated on an existing automobile . If the insurance company can determine which vehicle the inexperienced operator drives , they will rate the youthful driver as the primary driver unless there are more drivers than vehicles . Even then the youthful driver will be listed as an occasional operator on one of the vehicles . It is best to consult with your agent to determine the best car for the inexperienced driver to operate . The charge for a youthful driver is generally a percentage of the normal premium , so assigning the youthful driver to a car with a low premium generally makes the best sense . | If you buy universal life insurance that offers a lifetime guaranteed level premium and level death benefit , there are few cons to universal life insurance . With those guarantees , it is a permanent policy , so it will usually have a higher premium than term . But it often has a lower premium than whole life . Also , guaranteed no lapse universal life policies do not usually have a lot of cash value , but for many people , that is a worthy trade off for the lower premium . If you get a universal life policy without guarantees , you need to be careful that your policy does not lapse before you want it to . If you purchase indexed universal life or variable universal life , you also need to manage the investments made within your policy . The con would be that many people assume their agent is managing their policy for them , and are dismayed when coverage ends or they have very little cash value to show for their years of premiums . If you understand your policy well and know how to manage it , being able to manage your own policy can be a pro rather than a con . |
Is It Okay To Not Have Health Insurance? | Health insurance is a personal choice and a matter of responsibility . Anyone can receive medical care as long as they have the ability to pay . Health insurance is like an open ended line of credit that never has to be paid back . Health insurance can pay for your large claims and save you from financial ruin . | Life insurance companies are not mind readers , but they do their very best to find out if you smoke . If you have a blood test , urine test , or swab , the presence of nicotine will show up in all those tests . If you have ever taken Chantix or other drugs to help you quit smoking , they will see that on your pharmacy record . If your medical records show that you smoke and you have a health condition that causes underwriters to order your medical records , the insurance company will take the word of what is written in your medical records . |
How Much Will Term Life Insurance Cost Me? | There 's many factors that go into the premiums for life insurance to say what a policy costs - it will be different for every person as we each have our own specific needs . The premium for a policy will depend on the insured 's age , amount of coverage they want , how long they want the coverage for -LRB- for term insurance - 10 , 15 , 20 , 25 , or 30 years -RRB- , their riskclassification -LRB- determined by your medical history -RRB- , and whether they ` reapplying with full underwriting or non-medical term coverage . The risk classification is the MOST critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends ona number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Please keep in mind - every carrier has their own set of underwriting guidelines and mortality tables , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . Non-medical term life insurance policies will almost always cost much more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you . Consult with an experienced life insurance broker to determine what coverage is appropriate/suitable for your needs and budget . Please feel free to contact me for help or if you have any other questions . Thanks very much . | Yes , all policies with an effective date of January 1 , 2014 and after will no longer have pre existing condition issues in Florida or any other state for under age 65 health insurance . It 's important to work with an independent agent to get unbiased advice on selecting the plan that will best meet your needs . People can even run a quote from all the major carriers on our website . For the under 65 plans its listed under `` other '' . For the folks turning 65 or older they can run a Medicare Supplement plan directly on our home page . |
How Much Will Term Life Insurance Cost Me? | The answer will depend on you . Your age , height , weight , sex factor into pricing . Smoking factors into the price . How is your health overall ? Your blood pressure ? Cholesterol ? blood sugars ? kidney functions ? Liver functions ? Driving habits ? What do you do for fun ? Pricing for any type of life insurance depend on many factors . How much your plan will cost depends entirely on you . Depending your health and habits , term can be very inexpensive to start with if your health is good , or expensive if your health is not . | Hurricane damage is covered in most renter 's policies with exceptions and limitations . Damage to the landscape may have incidental coverage . Certain items of personal property -LRB- money , jewelry , silverware , guns , for example -RRB- are subject to limits in the policy . If the damage is sustained due to flood , waves or an overflow of water that enters through an opening in the house or even through the sewer , damages may not be covered . If the direct cause of loss is power interruption , damages may not be covered . |
Can I Cancel My Renters Insurance? | Of course , provided you no longer need it or unless your building owner requires you to have it as a term and condition of the lease . It would be a very good idea to check both of those before asking your insurance professional to cancel your Renters ' Insurance Policy . | The Insured in any disability policy , whether used privately or in a business arrangement , is the person who has the potential to become disabled . The benefit can be paid to the business or to the Insured , if the Insured becomes unable to do the tasks that their position requires . |
How Does An Auto Insurance Company Make Money? | I 'm certain that this will not be a complete and thorough answer , but I would say in it 's simplest form insurance companies make a profit by receiving more in premium from clients than they payout in expenditures -LRB- claims and other operating expenses -RRB- . There really is n't any magic behind it just simple economics . | That is a great question ! In insurance speak , an `` assignment '' means that something has been transferred to someone else . An `` irrevocable assignment '' means that transfer is permanent , and can not be undone . So an `` irrevocable assignment '' of a life insurance policy means that the policy is transferred from one party to the ownership of another . That second party now has the rights to change the beneficiaries , and all other rights that go with the ownership of the policy . I hope that helps - thanks for asking ! |
How Does An Auto Insurance Company Make Money? | In addition to what David said , they take those premiums and invest them , so they are earning interest on those dollars . The way they make money is , more people do n't haveclaims then do , otherwise they would n't be in business . If it looks like they are n't going to make any money , your rates will go up . | With implementation of the Affordable Care Act , everyone is required to carry health insurance . This could be as part of an employer or other group or on an individual level . Medicare recipients already have compliant coverage . If you qualify for Medicaid you will have compliant coverage . If you do not pay taxes you may be able to sneak through the cracks , but for the most part be prepared to either buy health insurance or be ready to pay a tax penalty . |
Does Progressive Do Life Insurance? | A lot of the `` big box '' insurance companies -LRB- or their subsidiaries -RRB- offer insurance across multiple lines . Some are more proficient in one category , others have success across multiples . Speak with an independent agent who might have access to many companies to find out if any particular carrier carries a certain type . Visit the following site to see what Progressive might offer . WEBSITELINK | The best place to buy is somewhere that you can get good advice from an agent that you trust . Also its important that the agent you use has access to multiple insurance companies and not just one . This will play a huge role if you are rated for health reasons and need to look at other insurance companies that might offer you a better rate . This will also allow your agent to shop the best carriers for you and determine who has the best value for your age , health , and the amount of coverage you are looking to buy . |
What Is The Average Cost Of Term Life Insurance? | If you search for a graph of mortality you will see a steeply curving line . It demonstrates that the number of people of a particular age that die during the 12 month period is a pretty predictable number . The companies then say to you , how many years do you want coverage . That allows them to compute with a fair degree of accuracy the chances that you will be a victim of premature death . Now this revolves around your current age , the amount of coverage that you want , and the length of time you want the coverage . | There are provisions to insure every car that your states department of Motor Vehicles will license . Preferred insurance companies may limit the coverage that they offer . Frequently they will refuse to offer physical damage coverages . However , there will be companies that will insure your car as long as it is deemed roadworthy by the DMV . |
What Is The Average Cost Of Term Life Insurance? | A super preferred nonsmoking male age 25 seeking coverage for $ 100,000 of ten year term life insurance will pay around $ 100 a year . The price for term life insurance depends on the face amount , the duration of the coverage period and personal information . The personal information includes gender , age , smoking status , health history , current medical condition , etc. . | A renters policy contains two major coverages . The property being covered is the personal property that the renter owns that is located in the rental unit -LRB- some coverage away from the unit . -RRB- The liability coverage provides assistance when you are sued for personal liability or property damage . There are other coverages included such as extra living expense and medical payments . |
What Is The Average Cost Of Term Life Insurance? | While I 'm sure there is a method to figure this out by adding up the cost of all policies written and dividing by that number , it would not provide a meaningful amount for you . All policies determine their premiums by amount of coverage , age and sex of applicant , and both health history and lifestyle issues . There are many carriers that sell term insurance and the main difference between them is cost . The main takeaway is : consult an independent life agent that can survey carriers for your best value . | Medicare may pay for gastric bypass . Certain conditions must be met , such as a BMI of 35 + , presence of a health condition related to being overweight , and no other medical options expected to work . There will be a psychological evaluation done to see if gastric bypass is right for you . As with other Medicare benefits , the gastric bypass must be done in a Medicare approved surgery and by a Medicare approved provider . |
What Is A Homeowners Insurance Deductible? | The deductible is the amount of a claim that you have to pay . In a homeowners policy it only applies to property coverages . For example , if there is a fire in your kitchen and resulting damage costs $ 25,000 to repair , the company will make the repairs after you have paid the deductible . Deductibles come as flat amounts or as a percentage of the total amount of coverage . The greater the deductible the lower the rate for that portion of the policy . Deductibles do not apply to many coverages of the homeowners policy , the most important being the liability coverage . | When an APS -LRB- attending physician statement -RRB- is ordered by the life insurance company , the insurance company normally uses a service to obtain the APS from the physician or hospital from whom it has been requested . If you have seen more than one physician in the past 5 years , or if a particular physician has important details about your health condition , be sure to include the contact information for those physicians on your life insurance application . It will make the process go much faster if they can order all pertinent APS 's right away . |
What Is A Homeowners Insurance Deductible? | That is a great question ! In insurance , the deductible is the amount that you have to pay before the insurance company starts paying . Generally the higher the deductible -LRB- your responsibility -RRB- the lower the premium that you will have to pay . If you are a safe driver , and do not have much risk for an accident , then a high deductible might save you a ton of money over the life of your policy . If you have a high deductible on your health insurance , and have frequent health issues requiring doctors visits , a high deductible might be a more expensive way to go . The best thing to do is to balance out your risk tolerance and ability to come up with the deductible with the affordability to safely make your payments . Have your agent run a couple of examples for you with different deductibles so you can see the difference in the premiums . Thanks for asking ! | The answer to your question will vary from insurance carrier to insurance carrier . While smoking cessation program coverage has become almost standard in health insurance policies , the approved methods and medications are determined by each health insurance carrier . As such , there is no simple , Yes or No answer to your question . You will need to check with your insurance carrier to determine what your plan with them covers and the steps you need to take to have your efforts to stop smoking covered . In general terms , nicotine patches seem to be more favored by health insurance carriers than nicotine gum . Also , there are several prescription medications that are approved for smoking cessation and are generally covered under the pharmacy benefit of most health insurers . |
How To Have A Baby Without Health Insurance? | If you do not have health insurance , I suggest you attempt to negotiate with your doctor early during your pregnancy . You will find many doctors are actually willing to charge less for patients that self-pay using cash , as it cuts their expenses in not having to invoice and follow up with an insurance company to receive their payment . You may also want to contact your state 's Medicaid office to see if you qualify for Medicaid , which is available at no charge to pregnant women in most states . | Most doctors accept and treat Medicare patients . One way to find out if a doctor accepts Medicare is to call and ask . The key question you want to ask is , do they accept Medicare assignment . You can also search online using a search engine such as Google or Bing . You can also find your answer on Medicare.gov |
Is The Cost Of Long Term Care Insurance Tax Deductible? | Could be . Since I am not a certified accountant , I can not give tax advice but here are the parameters for possible tax-advantaged treatment to discuss with a tax professional : 1 . Every year the IRS publishes the formula of percentage of premium by age that can be used for favorable tax treatment on the 1040 tax return . This formula is updated on various tax preparation software programs every year and certainly qualified tax advisors know what it is . It is also public information that can be obtained at various websites .2 . If the premium causes one to exceed the minimum percentage of health care costs on Schedule A , that amount above the minimum percentage could be deductible .3 . If one is a business owner , the above mention formula may be used on Schedule C to determine the deduction allowable as an amount paid for health insurance premiums .4 . C-corps may be able to ignore the IRS formula and deduct 100 % of the long-term care insurance premium on Schedule C.There may be other situations in which the payment of LTCi premium is treated in a tax-favorable manner . This is a topic for discussion with a qualified tax advisor before a consumer should make any assumptions about the tax treatment of the payment of long-term care insurance premiums . | Can life insurance be used for retirement ? Absolutely ! Life insurance , especially cash value life can be part of a combination of retirement options . It 's not an all or none item but a part of a balanced plan . The ability to get to cash values when needed without tax consquences or early distribution penalties allows the individual to maybe save another piece of the retirement pie for a better time . What cash value life does in retirement is simply give you more options that you can use to take advantage of the best timing for yourself . |
Which Insurance Company Is The Best For Long Term Care? | There are several excellent long term care insurance companies in the U.S. Which one is right for you may depend on your gender , age , smoking status , health history and current medical condition ? It may also depend on the amount of benefit youre seeking . Using a bidding process based on your needs can help you select the right company . But for the most part based on price and contract definitions , Genworth is a high recommendation . | Medicare Part B will pay for TMJ surgery if performed by a Medicare participating doctor , or a Medicare participating oral surgeon who is not a medical doctor . As with all Medicare supplies and services , the surgery must be deemed `` medically necessary '' in order for Medicare to pay for it . |
How Much Does Long Term Disability Insurance Pay? | Assuming the long term disability insurance covers your full compensation and the benefit pays until age 65 , the following is a general understanding of the benefit amount . If the disability insurance is not deducted as a business expense , you will receive 60 % of your compensation tax free . If the disability insurance is deducted as a business expense , you will receive 80 % of your compensation taxable . | This can actually be a bit of a loaded question because the type of coverage you 're looking for , your need , your risk class , premium tolerance , and a number of other factors will really direct where you should go to buy your insurance . If you 're strictly looking at who is a `` top '' carrier , American General , MetLife , and Prudential -LRB- to name a few -RRB- may fit the bill . If you 're looking at just financials such as who has an A + + rating versus A + , A , A - , etc , Guardian and MassMutual may be more to your liking as they have the most superior financial rating that is given by A. M. Best . There 's hundreds of insurance companies out there . A life insurance policy with company ABC may be right for you , but not for someone else . Consulting with an experienced life insurance broker is always the most advisable course of action as we can help you determine the most suitable benefit structure and the carrier that will be able to offer it to you at the lowest possible cost . Please feel free to contact me for further assistance . Thanks very much . |
What Is Life Insurance Certificate? | A life insurance certificate is a document provided by the life insurance company , or by the employer offering your group life insurance coverage . It states the company your policy was issued from , dates of coverage , and a summary of the features of your policy . The certificate is not your actual policy , but it is sometimes requested as proof of having life insurance . | Self-insured auto insurance is when you meet your state 's financial responsibility requirements for driving on the road . You can avoid -LRB- sometimes -RRB- buying conventional auto insurance although it is not highly recommended . The risk of litigation would be enough to deter most persons and just let an insurer handle that aspect . Buying car insurance will accomplish that . |
What Does Renters Insurance Cover In A Fire? | In a fire your homeowners insurance will pay for damage to your personal property , the additional cost of finding alternate temporary lodging and will adjust the claim on the basis of replacement cost if you selected that coverage . If there are liability claims arising out of the fire your liability section will defend and pay awards up to the limits of the policy . | Expensive is a relative term to the person using it . Based on my limited experience within my geographic location ; renters insurance is typically very inexpensive . I would say based on my experience that an average renters insurance policy in my area is around ten dollars per month and if you have your renters and auto coverage with the same carrier you will typically receive additional discounts . If you feel the rate for your renters insurance is too high call some other local agents in your area to receive quotes from other carriers for the coverage you seek . |
Why Use An Irrevocable Life Insurance Trust? | Why use an irrevocable life insurance trust ? The main reason is to transfer the asset -LRB- life insurance is an asset -RRB- out of the direct ownership of the insured . Why ? While life insurance is income tax free in most all situations , it is not estate tax free when adding up all assets subject to estate taxes . For a person who may have an estate tax liability , an insurance trust makes good sense . Making it irrevocable just clearly makes a line of separation from the policy owner and their other assets . | Auto insurance adjusters are paid by the hour in most cases just like any other job . How much an adjuster will make varies by the market the adjuster is currently lives in . Certain regions of the country are less and certain are more . Many carriers will offer benefits such as medical , dental , vision and even 401k plans . Also many carriers will train you but require you have a bachelors degree . If you are interested do a search . Many insurance carriers are always looking for adjusters . |
Why Use An Irrevocable Life Insurance Trust? | An irrevocable life insurance trust can protect the death benefit proceeds from estate taxes . However , an irrevocable life insurance trust has many strings attached , not the least of which is that the person making the trust can not make changes to the beneficiary of the policy . So visit with a knowledgeable agent , lawyer or tax professional when deciding whether an irrevocable life insurance trust is a good idea for your estate . | Graded whole life policies are designed to allow a person who would otherwise be turned for traditional whole life insurance due to existising health conditions to purchase a whole life policy . They are usually offered and purchased as a small final expense policy . Because the policy is graded you wo n't receive full benefits for the first couple years . Benefits are limited to the premiums paid in plus and interest factor that is determined by the insurance company and this can vary depending on the insurance provider . Once a policy holder is past the first two to three years full benefits would be paid to the beneficiary . |
Why Use An Irrevocable Life Insurance Trust? | If your federal estate obligations or state of residence tax exceeds the unified credit or state exemptions , you may want to consider using an Irrevocable Life Insurance Trust -LRB- ILIT -RRB- . If designed and set up by an estate tax attorney , an ILIT can hold a life insurance policy and distribute those death benefit proceeds to the trust beneficiaries tax free . If the life insurance were held in the estate , the proceeds were more than likely be subject to estate taxation at the second death of a married couple . Before moving forward with an ILIT seek out professional advice . | To your spouse , it is worth a whole lot . Where else could he or she get that much money within five days of your death !? To you , it could be worth a lot of cash . Some people use permanent insurance to accumulate wealth . Given the proper product , the proper management , and sufficient time , that cash growth can be significant . In a way , however , life insurance is priceless . You are paying for peace of mind . No need to worry about the finances of your heirs . If you have planned properly , they will not only be okay , but well-off . How much is that worth to you ? |
Can I Switch From One Medigap Policy To Another? | Yes , you can switch Medigap policies whenever you want , there are no restrictions . You will have to medically qualify however so be cautious and make sure you are approved for the new policy before dropping your old one . Do not just go by rates . While it is true that Medigap policies are standardized and offer the same coverage , there are some companies that offer a very low rate and within a year or two the rates increase as high as 40 % or more . Make sure you select a plan that has a stable rate history unless you like changing plans every year or two . | That is a great question ! Deductible is the word for what insurance companies expect you to pay towards your share of the cost . In their view , if you know that you have to pay before they will , it will act as an incentive for you to be a little more careful . In your auto policy you have a collision part , and a comprehensive part . The comprehensive covers any damage not incurred through a collision . A rock through the window , someone breaking into your car , or a tree falling on it would be examples of comprehensive coverage . In the event of these repairs , you would be expected to pay your deductible , and the company the rest . This is why it is important to not set a deductible higher than what you can safely scratch up , if you need to . I hope that helps , thanks for asking ! |
Can Tricare Be Primary Over Medicare? | Tricare is never primary over Medicare . It will only pay after all other insurances have paid . If you have Tricare and are entitled to Part A , you must have Part B to continue the Tricare pharmacy benefits . However you do not have to enroll in a Part D prescription plan . If you do choose to enroll in a Part D plan , Tricare will be secondary to that plan as well . | The best age to purchase long term care is when youre young and healthy because the premium does n't get any cheaper the older you get . Most retirement advisers start addressing long term care insurance at age 50 , but most start purchasing long term care in the early 60s . Another senior factoid is your family history , where predispositions to disease or a culture of confinement occurred in you lineage , you may need long term care . |
Do You Really Need Medigap Insurance? | I ca n't say that anyone really `` needs '' a Medigap plan but it is a good idea . Original Medicare only covers about 80 % of your hospital and outpatient charges . Seniors with a healthy bank account may not need or desire to purchase a Medigap -LRB- supplement -RRB- plan . While you may be healthy now , your health can change at any time . If you are hospitalized 3 times during a calendar year for unrelated medical conditions you will have to pay a deductible of $ 1184 -LRB- 2013 Medicare Part A deductible -RRB- for each admission . Medicare Part B outpatient charges can become expensive as well . After you have paid the calendar year Part B deductible of $ 147 -LRB- for 2013 -RRB- you are responsible for 20 % of the remaining charges not paid by Medicare . An $ 800 CAT scan can leave you owing several hundred dollars . Your 20 % share of Part B expenses has no upper cap . Medicare supplement plan F covers 100 % of approved Medicare Part A and Part B charges . Do you `` need '' a Medigap plan ? Only you can decide , buy for most it is a wise choice . | There have been a long line of financial entertainers and celebrities who have jumped on the `` I hate all types of permanent life insurance '' bandwagon . The gist of all their criticisms has at its core a misunderstanding of how whole life can work . They tell their followers that investing in equities will create more money than accumulating money in life insurance will create . A closer objective look with realistic assumptions may tell a different story , especially when looking at it from a big-picture perspective . But as always , you have to evaluate this debate with your particular situation in mind . |
Do You Really Need Medigap Insurance? | That is a terrific question ! Unless you have a ton of money , unfortunately the answer is probably yes . The name says it all . There is a gap between what Medicare will cover , and what most people will need , when it comes to medical practices , procedures , and prescriptions . That gap in coverage then falls entirely upon you . For most people , the expense of the coverage is more than they can afford . To fill that gap , many health insurers created policies that help pay for those procedures , practices , and prescriptions . I 'd recommend that you speak with your adviser about your current health insurance coverage , your social security and medicare options , and the likelihood of needing a medigap plan , so that you can plan accordingly . Thank you for asking ! | When you buy life insurance to cover a mortgage , you can buy your policy in the face amount and term length that you want . Often , that is 30 year term to cover a 30 year mortgage . About 20 years down the road you may have half your mortgage paid off . At that time you could reduce your life insurance policy to half the face amount and save some money . Or you could start out taking half of your coverage in 30 year Term and half in 20 year Term . Buying the shorter term policy will save you some money and when it runs out , you still have 10 years of coverage left . All this is to say , you really ca n't know how much mortgage life insurance costs until you talk to an agent and figure out the best way to set up your policy . Give someone who sells level Term life insurance today ; you will be glad you took the time . |
Where To Shop For Disability Insurance? | Some websites advertise Disability Insurance . Others , like ours , uses a separate Disability Insurance brokerage that provides the most competitive price from many companies . So you may need to call and ask the contact number on the website , or a local agency , if they can provide with your some comparative quotes . If they can get you the best rate from 5 or more companies you should be in the right place . | No , life insurance is not usually considered income for income tax purposes . If you receive the death benefit in regular payments rather than a lump sum , the interest only will be considered income . There are some caveats to this , especially with cash value policies . But generally speaking , life insurance is not counted as income . |
Does Medicare Cover HIV Drugs? | Surprised no one has answered this question . YES !!! HIV medications are covered under Medicare Part D Plans and MA-PD Medicare Advantage Plans that offer prescription coverage all bundled in one . Check with your plan administrator for specific coverage 's though . Anti-HIV medications will always be covered because they are medically necessary to stay alive . | If you live in Tennessee , Arkansas or Mississippi give me a call or e-mail me and I 'll help you out . This is becoming a mantra with me so here it goes - seek out an experienced health insurance agent and have them review your situation and your options both inside and outside of the government health insurance marketplaces . Of course , you can go to some online web sites and there 's always HealthCare.gov that is supposed to make purchasing health insurance so simple . However , ObamaCare , whether you love it or hate it , has done many things but making understanding what you are buying simpler for the average consumer is not one of them . There are many , many fine points regarding provider networks , how the consumer can access care , how different health care services are covered from one product to another , what prescription drugs are covered and how , that even when they are technically explained on a web site the consumer either does n't understand the terminology or just rushes past these important factors while focusing on a few bullet points and the monthly premium . I 've met entirely too many people this year who have come to regret the purchasing decision they made on their own and only learned the consequences of once they needed to use their coverage . So , do n't be that person . It does n't cost you anymore to use the services of a health insurance agent and you are making a decision that could literally have major implications for your personal and financial well being . Why would n't you seek out professional advice ? |
How To Lower Your Auto Insurance? | There are several strategies that should be explored . Here are a few of the more commonly applied ones : Call two or three local agencies and ask for quotes from several of their carriers , using the same coverages , limits and deductibles . -LRB- Ask each agent for their suggestions as to lowering your costs . -RRB- Discuss all possible discounts available to you , such as safety devices on the vehicles , defensive-driver courses completed , etc. . See if you can combine your auto and home coverages on the same policy . Review your credit situation and see if you can rectify any discrepancies on the credit bureau reports Increase your deductibles , in-line with your financial situation . Consider dropping comprehensive coverages on older vehicles . | No . A health insurance company must provide a policyholder with proper advance notice of any policy cancellation . You should receive a written notification from your insurance carrier of their intent to cancel coverage , an explanation for the cancellation and the date that the policy will be terminated . Cancelling an individual or group health insurance policy is not something an insurance carrier can do arbitrarily and could get them in big trouble with the state insurance department and possibly the Federal government . Now , if you engaged in fraud in applying for a health insurance policy the insurance carrier is within their rights to cancel your policy and may even cancel it retroactively to the date of issuance . But they would still have to provide you with notice , an explanation and a chance to appeal the decision . An example that we will probably see more of in the era of ObamaCare where health insurance rates can be significantly different from one side of a state line to another is the situation where a person enrolls for coverage stating that they are a resident of a state like Tennessee -LRB- where more health insurance options exist and rates are lower -RRB- when they are really a resident of Arkansas -LRB- where choices are limited and rates are higher -RRB- . It is also possible that an insurance carrier will cancel an insurance policy product line , withdraw from a marketplace or go out of business , all of which are situations where an insurance carrier cancellation would be initiated by the insurance company . However , they are still required to provide policyholders with timely notice even in these events . |
How To Lower Your Auto Insurance? | Start by talking toyour Insurance Professional about any and all discount opportunities your company may offer . Many companies apoply multi-policy discounts for those who insure their Home , rental apartment , Condominium etc. as well . Other companies offer additional discounts for those who also obtain Life Insurance with the same company . Ask about any `` affinity '' relationship discounts that might be available . Alumni Associations , Professional Associations etc. sometimes have a relationship with an insurance company and it 's members as such receive an additional discount . Here in CT , Nationwide has an affinity relationship with the CT Farm Bureau Federation , to which anyone can join as an associate member . Members receive an additional 7 % discount on their car insurance . | Premium for renters insurance is the price you pay for the policy . It 's set based on how likely a loss is . The average premium for renters insurance is $ 10 - $ 15 per month and buys you $ 15,000 of coverage for your personal property and $ 100,000 of liability coverage . Premium for renters insurance can vary based on location . |
How To Lower Your Auto Insurance? | That is a great question ! There are a couple of good ways to lower your cost . The first , and best way to lower it is through an extended period of claim free and ticket free driving . A good driving record is a great way to save . The second is to bundle your policies - insure your other car , a life insurance or homeowners policy , with your auto insurer . They will generally give discounts on all of the policies under their umbrella . Another way is to ask . Sometimes , rather than lose your business , the company will `` find '' a way to provide you with a cheaper rate . Lastly , if you can afford to do so , raise the amount of your deductible to the highest amount that you could scratch up if you had too . Generally the higher your deductible , the lower your rate . I hope that helps , thanks for asking ! | Original Medicare Part A , which covers hospitalization , has a deductible of $ 1184 . Original Medicare Part B , which covers out-of-hospital services , generally covers 80 % . You can get these gaps in coverage filled by purchasing a medicare supplement -LRB- PPO -RRB- or a Medicare Advantage Plan -LRB- HMO -RRB- . The Medicare Advantage Plans are generally much more affordable , and often free ! Also remember that Original Medicare does not cover drugs , so you 'd have to get that coverage through a Medicare Supplement or Advantage Plan as well . |
Who Can Withdraw From 401K? | Only the owner of the 401 -LRB- k -RRB- can withdraw money . If the owner is deceased , then the beneficary can make a claim to receive the balance of the 401 -LRB- k -RRB- . You need to be aware that when a withdrawal of monies is made , taxes will be owed the year the withdrawal is made . | Video Transcript : Hello , everyone . I 'm Steve Savant , syndicated financial columnist and host of the weekly online talk show `` Steve Savant 's Money : The Name of the Game . '' I 'm answering questions from insurancelibrary.com , and today 's question is : Is cash value from a life insurance contract tax-free ? Well , if it 's set up as a non-modified endowment contract that complies with a law called TAMRA , and we keep that contract in force for the life of the policy insured , remember not the owner of the policy , not the payer of the premium , but the life of the insured , withdrawals to basis and policy loans of gain can come out tax-free . And as long as that contract , as I 've said , is kept in force , that income is never placed on your 1040 , so it 's never counted as a taxable event . This is huge , because then you do n't have any correlation later on in your retirement for Social Security , for the provisional income test or almost all other income sources have to be tested for Social Security to find out if your benefits are taxed or not . Well , that 's our consumer question for today . If you have any questions , just submit them to www.insurancelibrary.com . |
How Much Disability Insurance Should I Get? | Disability insurance is extremely important . The street vernacular calls disability insurance paycheck protection . With most Americans have less than 90 days of reserve cash for expenses , it important to buy as to the maximum limits . The first step is to determine your legitimate earnings to establish your compensation . Then you have an important decision to make : pay the premium after tax for a tax free benefit of up to 60 % of your compensation or pay the premium pretax for a taxable benefit up to 80 % of your compensation , provided that you have ability to use the premium as a legitimate business deduction . Depending upon your gender , age , nonsmoking status and good health condition you should be ready to pay 5 to 8 % of your compensation . | Disability Insurance is needed for most people to provide income for them and/or their families if they were to become disabled for over a few months . Some businesses use Disability Insurance to keep their businesses viable if one of their key employees should become disabled . Disability Insurance can replace over half the income lost by the employee becoming disabled , which is a tremendous need for most workers . |
How Much Disability Insurance Should I Get? | Considering most policies will only cover between 60-75 % of your income , you should be applying for the max benefit . You 'll want to take account of everything you pay for on a monthly basis , as well as the costs that will accrue if you 're unable to work -LRB- co-pays , assisted care , etc. -RRB- . Also , keep in mind that you wo n't be making any retirement contributions while your not making paycheck ... | Life insurance is not essential unless you are required to purchase it by a legal contract or you love someone else . If you dont love anyone else , then you dont care what people think about you . Your passing will be of little consequence . If you leave a mess , you wont care . |
How Much Disability Insurance Should I Get? | When deciding on your monthly benefit , it 's important to note that most carriers will only offer up to 60 to 65 % of your current income . You have to decide whether not you could sustain your lifestyle on any less than that , otherwise , it 's best to go with the maximum amount allowable . The average American only has 6 months worth of savings , so keep in mind that your cash reserves wo n't last forever . You never know when you 'll become permanently disabled . if that happened , you 'd want your benefit to be the highest possible so that you could maintain as much of your lifestyle as possible . If you want even more coverage , you can look into Critical Illness Insurance -LRB- pays out a lump sum -RRB- , Retirement Disability Insurance , and , if you 're a business owner , business overhead expense DI . | From my knowledge I am not aware that they offer renters Insurance . I do know they do Life Insurance policies like most Banks . I would recommend you call your local chase or walking and ask them if they provide this type of policy . Also if you or any close relative have a vehicle try contact that company to see if they offer renters insurance . Thank you and good luck . |
How Much Disability Insurance Should I Get? | The amount of Disability Insurance you can get is based on a percentage of your income . DI policies can offer up to 70 % of your income . Combined with Social Security Disability Insurance benefits , the total benefit might run even a little higher . Since your benefit is tax free , you do n't need to have 100 % of your salary replaced . And DI policies do not offer the option of paying 100 % of your salary , because they do not want you to lose the incentive to go back to work . The amount you should get depends on your circumstances , but most experts suggest 60-70 % of your income . | HPV does not affect life insurance rates as long as the proper testing has been done bycolcoscopy and the last PAP smear was normal . HPV normally goes away within 24 months , so you may just need to wait a while to get the very best rates . In the meantime , you can certainly get life insurance , even if paying a bit more . |
Which States Require Short Term Disability Insurance? | The states that require Short Term Disability Insurance are California , Hawaii , New Jersey , New York and Rhode Island . A few states offer disability to low income citizens in others ways . California , New Jersey and Rhode Island offer state Disability Insurance or Temporary State Disability Insurance . Puerto Rico also offers a Public Temporary Disability Insurance plan . | Yes , you can have both Medicare and VA Benefits . One plan will be a secondary payer . Since the Veterans Administration benefits must be used at VA facilities , usually Medicare is secondary to the VA insurance . However , sometimes VA drug benefits are a good supplemental plan to Medicare , and thus becomes the secondary payer . |
How Much Coverage Do I Need For Homeowners Insurance? | Coverage A-Dwelling , on your declaration page is the amount of money your home is insured for against covered perils . How much should your limit be ? It should be the amount of money you need to rebuild your house from scratch . That amount of money is called Replacement Cost . How do you determine the Replacement Cost Value ? To determine the Replacement Cost Value , you need to know or measure the square footage of your home . You also need to know the special features of your home , like skylights , central vacuums , etc. . You also need to know the quality of your improvements . For example , are your kitchen and bathroom fixtures Builders Grade or Luxury ? If you can gather that information , call your agent and review it with them . They should be able to help you come up with a reasonable estimate of your homes replacement value . You should revisit the value every three to five years or after you make a significant improvement . You want to keep pace with your homes value , but you dont want to over insurance and waste money . I hope I 've answered your question . If not , feel free to call , fax or email me . Kevin P. Foley , CPA , CPCU PFT&K Insurance Brokers T 877-414-2031 F 877-405-3025 E kpfoley -LSB- at -RSB- kpfoley -LSB- dot -RSB- com W www -LSB- dot -RSB- kpfoley -LSB- dot -RSB- com | In a word , NO , homeowners insurance does not in any way cover loss due to flooding . Only Flood Insurance will offer the protection you and your family need in the event that you face damage to your home and personal belongings as a result of a flood . Talk to your Insurance Professional and visit `` FloodSmart.gov '' for more information . |
Is A Pension Plan An Asset? | From an individual perspective a pension plan is an asset . It would be included in your net worth . The rules around pension plans can be complex , so it is an asset , but you may not be able to access it until a stated date . From a company 's perspective the pension is a liability , since the company is to varying degrees on the hook for funding . If you have further questions , or feel that I can be of assistance , please do not hesitate to contact me . | The first way to find low cost health insurance is by logging into your state health insurance exchange . You can choose between five plan designs . The catastrophic and bronze levels plans often have the lowest premium costs , but also have higher out-of-pocket costs if you utilize the plans . Always start with your state exchange to take advantage of income based subsidies . You may qualify for assistance to pay your premiums , and cover more of your out-of-pocket expenses . If you do not qualify for income based assistance you may find other options off the exchange . Speak with a licensed agent . |
Is A Pension Plan An Asset? | Whether your retirement plan is a defined benefit pension plan or defined contribution plan , both are assets and are part of your net worth and cash flow statement . Asset liquidity is somewhat relative depending upon the time you access your account . Product surrender charges , penalties and ordinary income taxes can all erode the actual value . | That is a great question ! It sure would be a lot easier if all those policies just spoke in simple words , would n't it ? In home owner 's insurance world , `` dwelling '' means the place where you live , or `` your house '' . It is used to differentiate between it , and any other buildings that might be on the property and covered , like barns , sheds , detached garages , etc. . I hope that helps , thanks for asking ! |
Will Medicaid Take My Life Insurance? | If the face amount of the life insurance exceeds $ 1,500 at the time of Medicaid is being applied for , they could count the cash value of the policy . The face value is the amount beneficiaries would be paid in the event of the applicant 's death . Death proceeds go to the beneficiaries of the life insurance policy based on the death insured not the policy owner . Consult an attorney before relying on any information dealing with Medicaid . | The best Medicare supplement plan -LRB- Medigap -RRB- plan in Florida is the one that fits your own needs and budget . When you consider all Medicare supplement insurance plans with the same letter are identical in every way except the premium , the decision is much easier . Medigap plan F is the most popular , mostly because it is oversold . Far too many agents promote the plan because it is easy to explain . It is also the most expensive plan and the one that pays the highest commission . Just last week I showed a couple in south Georgia how they could save over $ 1700 per year by making a simple change in coverage . |
Will Medicaid Take My Life Insurance? | No , Medicaid will not take your life insurance . You can have as much Term life insurance as you want , and you can have a final expense policy that will fund your funeral and burial needs . You can also have Whole Life insurance , but if the cash value of your life insurance goes above a certain amount , you may need to adjust your policy when going on Medicaid . Talk to your Health and Human Services Dept to discuss their guidelines and your options if you have a Whole Life insurance policy . | Are you looking for Term or permanent insurance ? What is your Gender ? What is your age ? How is your health ? Do you use tobacco ? What is your occupation ? What are your avocations ? Do you have a history of heart disease or cancer in your family ? All this information has a bearing on what it will cost to insure a person . Yes the amount of coverage is also an important factor and the insurer will also be a factor as all insurance companies do not have the exact same rates for the same coverage . |
Will Medicaid Take My Life Insurance? | Absolutely yes , Medicaid will take the cash value of your life insurance policy , if they spent money on long term care for you . The cash value is one of your assets and can be ceased . There are things you can do , however . I urge you to speak either with me or some other capable person , to establish an ILIT . That is an Irrevocable Life Insurance Trust . If done a few years in advance , you can shield all of the cash value of the policy in this special trust , and have your beneficiaries get all of it without being ceased . Love to discuss it . GARY LANE . garylane@cox.net . 714 422 9616 . | The Medicare payroll tax started in 1966 for private or corporate employers , their employees and people who were self employed at that time . In 1983 , federal employees started paying Medicare taxes . Newly hired state and local governmental employees started having Medicare payroll taxes withheld from their paychecks in 1986 . |
What Happens When You Lie On A Life Insurance Application? | There are two types of lies to consider when youre about to commit fraud : a misrepresentation of the truth and the omission of a material fact . Forms of fraud can be grounds for claim denial and possible criminal charges in business scenarios where other individuals or institutions relied on your coverage to indemnify them . | Like Edward has already answered , car break-ins are covered if you have the vehicle insured with Comprehensive -LRB- also called `` Other Than Collision '' coverage . Keep in mind thought , if anything is stolen - typically only those things permanently attached to the vehicle are covered under the auto policy . If a purse , laptop or other personal property not attached to the vehicle is stolen - most carriers cover these things under a homeowners or rental policy and are subject to that policies deductible and limits . So if your care gets broken into , you could be facing two claims and two deductibles unfortunately . Check with your local independent agent to verify your policy 's specific language . |
What Happens When You Lie On A Life Insurance Application? | Many things could happen from lieing on a life insurance application . Depending on when the lie is found out about . Reprecusions could be as minor as having the application denied to as severe as criminal prosecution . If the lie is discovered after the death of the insured the the death benefit would more than likely not be paid by the carrier ; the most that the carrier wouldtypicallybe responsible to pay under these circumstances would be the total premium paid in over the lifetime of the policy . If the policy death benefit had been paid already then the carrier will typically request the amount paid back -LRB- possibly less the total premiums paid -RRB- and then may seek criminal procescution . It is best to be as honest as possible during the application process as there is lot of information that is checked and double checked with many sources . | Bodily injury covers the medical bills for someone that you injured in an accident . That is what comes with your auto policy . A reputable agent should of explained this coverage to you . You need to make sure that your limits are matching the state requirements or higher . If you have to low of limits and you are involved in and accident and have lots of assets you are putting your assets at risk . If the limits on your policy are to low and your accident has paid all of your limits then you can be sued for the difference in the medical bills that your insurance company did n't pay.Please talk to an agent and make sure that you are protected . |
Why Do I Need Long Term Care Insurance? | Roughly sixty percent of Americans will require long term care services sometime during their lifetime . This is not exclusively a problem for the elderly as younger people can require this type of care some times . This level of care includes a range of services including skilled and custodial care that is provided over a long period of time . These requirements come from chronic sickness or injury , cognitive impairment and physical disability . Hospitals provide acute care . Medical care given over a long period of time for chronic conditions is where the need for long term care arises . Sometimes custodial care is required because the patient has lost the ability to do one of the recognized activities of daily living or instrumental activities of daily living . Most of the long term care given in the US is given by family members . However , there are many situations where family members can not provide necessary care . Professional and non-professionals can provide aid and assistance to these people . This long term care can be given in the home of the patient or in a variety of institutional settings . Long term care can be given in day-care facilities , nursing homes , and assisted living facilities . On average men need more than two years of long term care while women need almost four years on average ? The leading causes for patients requiring long term care are dementia , arthritis , cancer , stroke and nervous conditions . Caring for a patient in a home setting can cost up to $ 150,000 per year . The cost for a nursing home bed is about $ 75,000 per year -LRB- this varies by location . -RRB- There are basically four ways to finance long term care . The family can take the expense out of their own pocket , they can look to government programs -LRB- if they qualify , -RRB- they can use long term care insurance or they can rely upon charity . For a variety of reasons long term care insurance has provided a solution for many people . LTC insurance provides predictability for an otherwise unpredictable risk . It has become such popular coverage and policyholders have been so reluctant to drop their coverage that the benefits have started exceeding the premiums . It is quite popular among wealthy policyholders . Many companies that offered coverage have withdrawn and others have been forced to raise their premiums . This adjustment seems to be complete now . There are various forms of LTC coverage . Policies different widely . It is rather difficult to compare but is worth the effort . When deciding on a policy the first thing to establish is the amount of coverage you want and the period of time you want coverage . The second consideration is how soon after the start of long term care will you want the policy to start paying . This waiting period is computed in several ways so care must be exercised to make sure you are making a fair comparison . Not all policies use the same events to trigger benefits so care should be taken in this area as well . This can be a very technical area so compare your situation with the policy requirements . How a policy pays out will vary according to the policy . Some policies provide for reimbursement of expenses , others use an indemnity form which pays up to a specific limit of expenses incurred on each specific day , and some are on a cash model which pays a maximum benefit regardless of the actual cost of the care that is being given . Long term care insurance is a way to protect assets . The alternatives deplete assets with the government programs requiring a person to be in poverty . | Video Transcript : What is the best life insurance for doctors ? There 's no such as thing one carrier that 's really the best for physicians . They may have an underwriting program that 's a little bit more benevolent for wealthy clients , and generally , doctors are wealthy clients . They may be a little bit more benevolent in medical underwriting ; they may be a little bit more benevolent in giving more death benefit amounts for insurance justification purposes . For one carrier to say that they are better at physician underwriting than another , I 'm not really sure that that 's true . What I 'm looking at always is , ` Who has the best deal and price tag based on my medical condition ? ' then I can fit that into what I 'm presenting to a physician and using brokerage companies that will give me several carriers on a spreadsheet . I 'll be able to determine which is the best contract for that physician . |
Why Do I Need Long Term Care Insurance? | Why do I need long term care insurance ? You may not . The choice to purchase long term care is an individual one that depends on what a person wants to protect . If there are assets a person wants to hold onto or even pass along to family , a long term care policy makes great sense . If there is n't that desire , then it makes less sense . The main reason for many insurance purchaese that they create instant money to pay for something needed . Insurance does this so the individual can avoid liquidating other assets . | When purchasing life insurance , you need to know : 1 -RRB- That you are getting your policy with a secure company and reputable agent . 2 -RRB- The features of your policy and what they mean . 3 -RRB- What guarantees are included in your premium , return and coverage . 4 -RRB- Whether you qualify for that policy based on a thorough review of your health and other details . 5 -RRB- What type of policy best suits your financial needs . |
Why Do I Need Long Term Care Insurance? | The # 1 risk to retirement is human l ; longevity . Living longer means your retirement money has to last longer . Most seniors are on a fixed income , so any additional expenses can have a significant impact . Long term care insurance can mitigate the cost of assisted living and/or nursing home confinement . | Not everybody is covered on a health insurance policy because they either choose not to , or they can not afford coverage . Those two situations have been addressed with the Affordable Care Act , which will provide tax subsidies to low-income earners and also tax any person that does not buy qualified health insurance . This begins in 2014 with Open Enrollment starting later this year . Now may be a good time to get a free quote from an experienced broker to begin reviewing options now , and comparing them to prices that may be applied in 2014 . |
Why Do I Need Long Term Care Insurance? | Not everyone needs long term care insurance . LTCI is not for persons who are struggling to meet their day to day living expenses , rent an apartment , and have little savings and no investments . If such a person needed to go to a nursing home , Medicaid will almost immediately start picking up their tab and they will be fine . Long term care insurance is for those who have substantial assets or income that they do n't want to `` lose '' by paying high long term care costs . Some people are OK with their savings going to long term care expenses , if needed . They figure that is why they saved . Others feel strongly that they want to pass that wealth to heirs to continue a business , care for a disabled adult child , or help grandchildren go to college , among a myriad of other reasons . It is this latter segment of the population that `` needs '' long term care insurance , especially if they are not so very wealthy that paying nursing home expenses for many years would simply dent their resources , rather than deplete them . If they can afford long term care insurance , but would not be able to to pay for long term care services , people who are adamant about choosing the type of care they receive , or persons who are setting up a plan so that their children do n't have to worry about it , also could use long term care insurance . As long as Medicaid is around , no one absolutely needs long term care insurance . But for all the reasons above , many people would consider it a need if they looked at it realistically . | Typically , for an individual , $ 2,500 and above is considered a high deductible . For a family , often $ 3,500 and above is considered a high deductible . However , if you are accustomed to an HMO -LRB- with little or no deductible -RRB- or a group plan through your employer with low deductibles , a $ 1,000 deductible may seem high to you . So , as you can see , there is no correct answer ... it 's a matter of perception . |
How Much Does A Urinalysis Cost Without Health Insurance? | A urinalysis costs approximately $ 35 - $ 60 , depending where you live and what facility is used to conduct the test . Typically , it is part of a routine examination or annual physical . Many items are checked with this type of testincludingyour liver and glucose . If you have existing medical coverage and the test is considered preventive , the insurer may pay for the entire cost . | Benefits for disabled persons were added to Social Security in 1956 under President Eisenhower . By 1967 , Social Security Disability Insurance -LRB- SSDI -RRB- benefits were extended to dependents of disabled persons , and to widowers of disabled persons , when the disabled person was qualified for collecting Social Security Disability Insurance benefits . |
How Long Do You Need Life Insurance? | Not a simple or short answer . While there are huge numbers of people in the US that do not havelife insurance , thelength of timeto purchase life insurance depends uponthe reason for the life insurance . People who have large estates will uselifeinsurance as a planning tool to help pay for estate taxes.Some willneed life insurance purely as a death benefit . Others will useto generate tax free retirement , where the cash value is not tied up & can be used before reaching retirement age as Walt Disney tocomplete the financing to launch Disneyland -LRB- in CA -RRB- . Best advice ... get with a consulting agent with experience withall of the above and allow them to help decipher your individual needs . | Some good companies for purchasing disability insurance are Assurity , Fidelity , Guardian , MetLife , Mutual of Omaha , The Standard , Peterson International , and Principal Financial . If you contact a broker for Disability Insurance you will find more highly rated companies and their products to choose from . You can look for the company ratings at the AM Best website or the website for one of the other rating companies -LRB- Fitch , S&P , and Moody 's being the other main ones -RRB- . |
How Long Do You Need Life Insurance? | I always suggest keeping at least enough Life Insurance to cover final expenses . Even if you have investment money or money set aside you feel is earmarked for your final expenses , with the economy the way it is , you can lose a great deal of your investments in a short period of time . If your health declines you may be forced to go to a nursing home which will eat up any assets . A properly set up Final Expense Policy can help protect that money by utilizing a Funeral Trust . Life insurance is also protected from lawsuits and creditors . | To find out the answer to this question , please call a local agent to discuss your coverage needs and concerns . Auto insurance is not a product that is one size fits all . To be properly covered you need to speak with a local agent to get the coverage that will best meet yours and your family 's needs . |
How Long Do You Need Life Insurance? | How long one needs life insurance depends upon the purpose of the life insurance . If the purpose is to cover a 5 year bank loan , then you need it for 5 years . If the purpose is to pay estate taxes , then you need it to last until the 2nd spouse has passed away . If you need it until your mortgage is paid off , then you need it for that number of years , etc. , etc. . Point is , first define the need , then it 's easy to figure the length of time . | Medicare Part B covers some DME -LRB- durable medical equipment -RRB- including wheelchairs , walkers , hospital beds and lift chairs . The need for a mobility assist device must be documented by your doctor and a prescription must be written . You must be diagnosed with some form of muscular or joint disorder of the knees or hips . The Medicare allowance usually is limited to $ 300 . |
How Long Do You Need Life Insurance? | Until the day you die ! Your death benefit needs may change and the type of policy you carry -LRB- term , permanent , universal etc -RRB- may change , but you always need it . There is no stage in life -LRB- or death -RRB- where a life insurance policy -LSB- the correct one -RSB- is n't an asset to your overall financial picture . Obviously , there will be times where it becomes more obvious to carry real death benefits with the intention to protect loved ones , future college educations , costs of living and paying off obligations like mortgages , but do n't be fooled into thinking that a $ 20,000 final expense policy is n't worth the money . regardless of the insurance policy , you 'll be happy you had it in place when you needed it . For more information on the proper amount of life insurance needed visit www.clminsure.com or call 561-320-2978 | Assuming you mean more than one qualified plan the answer is yes . You could have a 401 -LRB- k -RRB- and a cash balance plan . You could also have a 401 -LRB- k -RRB- and a non-qualified plan that uses annuities and/or life insurance . |
How Long Do You Need Life Insurance? | You need life insurance as long as you love someone . You need life insurance if others will suffer loss because of your premature death . You need life insurance as long as a lender requires it to cover a loan . You need life insurance as long as you want to see those that you love receive an inheritance from you . | It is an extra protection for them in the event of a lawsuit . If your child , for example leaves a toy in a common stairway and another person falls down the steps and is injured , you could be sued but so can your landlord . Renters insurance is also a protection for you . Your personal property can be replaced in the event of a covered loss . |
How Long Do You Need Life Insurance? | There are different schools of thought on how long you need life insurance . Some believe that you only need life insurance until you save up enough so that your dependents would do OK , even if your died prematurely . That philosophy is often called , `` buy Term , invest the rest . '' Those who like this idea tend to buy shorter terms and pay as little as possible for their life insurance , with the hopes that by the time their Term policy ends , they will not need to buy more . Some choose the age of retirement as their cutoff point for owning life insurance , with the intention of having all debts paid off and money for retirement saved up by then . On the opposite side of the fence are those who would use life insurance for a lot of their supplemental income and security in later life , and thus only buy permanent policies . Not only do they spend more on premiums than those who buy Term only , but they may even increase their premiums so that their policies are paid up by the time they retire . Many people fall somewhere in between . They buy what is most cost effective for each particular need . E.g. . They may buy Term for the bigger expenses in their lives , such as getting their kids raised . And they might buy a smaller Whole or Universal Life policy for their final expense needs . Then try to diversify their investments as is prudent at each stage of their lives , and in accordance with the economy , and products offered at that time . | That is a great question ! Many people feel that they will be denied coverage if they have an issue with their health , and often do n't even try to get it , so I am very glad that you asked . Unlike health insurance -LRB- where until the passing of the Affordable Care Act , or Obamacare , as it is sometimes called -RRB- you could be denied , life insurance has policies for everyone . I would suggest that in your case , you contact an independent agent , -LRB- one not tied to a single brand name -RRB- who can help you shop for one that works best for you . You should not have a problem finding a policy that will work for you . Contact me if you need help , okay ? Thanks for asking ! |
How Long Do You Need Life Insurance? | Complete a life insurance needs analysis - there are general worksheets that you can google for , however , to get the most accurate picture , you should talk with an independent life insurance broker . The purpose of the insurance is a driving factor in determining how much and how long you need the coverage for -LRB- e.g. paying off a mortgage , income replacement , estate planning , family protection , etc. -RRB- . Someone only looking to pay off debts only `` needs '' the coverage til the debt is paid off . For example , if you have a $ 500,000 mortgage that should be paid off in 30 years , you would only `` need '' the coverage for 30 years , so a permanent be suitable to the need . If you 're looking to provide income for your family in the event of your death , you may want a combination of term and permanent coverage . Realistically speaking , most people are not going to purchase enough coverage to cover every need that they have - many times this is because they ca n't / do not want to write the check for such a high amount . You should look at which are the most critical needs you want to meet , how long do you need to have each of them covered for - this will point you in the direction of how much coverage is appropriate to have and how long you will need it for . If you have any other questions or would like help with your coverage , send me a message by clicking on the `` contact me '' button , or call me at 703-665-9133 . | How soon depends on the kind of health policy you apply for . There is short term which will take at least 5-15 days for approval . Then there isthe major medical plan that has to be reviewed including your medical records to qualify you for which coverages then some may even have waiting periods until you may use the policy . Then there is indemnity which is cash payment to the policyholderwhich starts as soon as the policy is approved within a day or two . It is mainly accident and sickness and critical illness with no waiting period . |
How Long Do You Need Life Insurance? | How long a person needs insurance is of individual importance . There is n't a blanket answer for everybody . One person may only want coverage for a set period of time . Another may want coverage till the day they die . Who 's correct in their choice ? They both are if that is what they wish . About the only thing I would suggest if you decide a limited period of time is all you need for life insurance , is to cover your bet with convertable term insurance . That way if you decide you do need coverage till the day you die , you 've got that option . | An automobile policy covers only a vehicle . Personal property can be covered by purchasing a tenants or homeowners insurance policy . Generally , the tenants or homeowners policy will extend coverage up to ten per cent of the personal property limit in the policy for property that is away from the residence . Theft of property from automobiles is becoming the crime of choice for many . |
Does Car Insurance Go Down Every Year? | Great question . The way auto policies are rated today includes a myriad of factors and that makes it difficult to predict premiums . The factors include the personal details of drivers , including their driving records and their credit reports and the year , make and model of the auto . You may be surprised to find that an `` expensive '' Lincoln costs less to insure than a `` less expensive '' compact car . Why ? Because little cars are more easily totaled in an accident and total loss claims are more expensive than simple repairs to a heavier vehicle ! In general if there are no changes to all the moving parts , you may expect your rate to be stable and perhaps go down over time if you have no claims . Another interesting factor is your carrier 's position in the local market . For example , in Florida there is a lot of market volatility and carriers come and go in the market . A new carrier may have aggressively low rates as they are eager to write more business and get market share . Going with that carrier may be a good deal for the first year or two , but you may well see big increases at renewal as the carrier adjusts their position in the market . | Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . That being said . Below are some of the possible exclusions : A . We do not provide Liability Coverage for any `` insured '' : 1 . Who intentionally causes `` bodily injury '' or `` property damage '' . 2 . For `` property damage '' to property owned or being transported by that `` insured '' . 3 . For `` property damage '' to property : a. Rented to ; b. Used by ; or c . In the care of ; that `` insured '' . This Exclusion -LRB- A. 3 . -RRB- does not apply to `` property damage '' to a residence or private garage . 4 . For `` bodily injury '' to an employee of that `` insured '' during the course of employment . This Exclusion -LRB- A. 4 . -RRB- does not apply to `` bodily injury '' to a domestic employee unless workers compensation benefits are required or available for that domestic employee . 5 . For that `` insureds '' liability arising out of the ownership or operation of a vehicle while it is being used as a public or livery conveyance . This Exclusion -LRB- A. 5 . -RRB- does not apply to a sharethe - expense car pool . 6 . While employed or otherwise engaged in the `` business '' of : a. Selling ; b. Repairing ; c. Servicing ; d. Storing ; or e. Parking ; vehicles designed for use mainly on public highways . This includes road testing and delivery . This Exclusion -LRB- A. 6 . -RRB- does not apply to the ownership , maintenance or use of `` your covered auto '' by : a. You ; b. Any `` family member '' ; or c. Any partner , agent or employee of you or any `` family member '' . 7 . Maintaining or using any vehicle while that `` insured '' is employed or otherwise engaged in any `` business '' -LRB- other than farming or ranching -RRB- not described in Exclusion A. 6 . This Exclusion -LRB- A. 7 . -RRB- does not apply to the maintenance or use of a : a. Private passenger auto ; b. Pickup or van ; or c. `` Trailer '' used with a vehicle described in a. or b. above . 8 . Using a vehicle without a reasonable belief that that `` insured '' is entitled to do so . This Exclusion -LRB- A. 8 . -RRB- does not apply to a `` family member '' using `` your covered auto '' which is owned by you . 9 . For `` bodily injury '' or `` property damage '' for which that `` insured '' : a. Is an insured under a nuclear energy liability policy ; or b. Would be an insured under a nuclear energy liability policy but for its termination upon exhaustion of its limit of liability . A nuclear energy liability policy is a policy issued by any of the following or their successors : a. Nuclear Energy Liability Insurance Association ; b. Mutual Atomic Energy Liability Underwriters ; or c. Nuclear Insurance Association of Canada . B . We do not provide Liability Coverage for the ownership , maintenance or use of : 1 . Any vehicle which : a. Has fewer than four wheels ; or b. Is designed mainly for use off public roads . This Exclusion -LRB- B. 1 . -RRB- does not apply : a . While such vehicle is being used by an `` insured '' in a medical emergency ; b. To any `` trailer '' ; or c. To any non-owned golf cart . 2 . Any vehicle , other than `` your covered auto '' , which is : a. Owned by you ; or b. Furnished or available for your regular use . 3 . Any vehicle , other than `` your covered auto '' , which is : a. Owned by any `` family member '' ; or b. Furnished or available for the regular use of any `` family member '' . Page 4 of 13 ISO Properties , Inc. , 2003 PP 00 01 01 05 However , this Exclusion -LRB- B. 3 . -RRB- does not apply to you while you are maintaining or `` occupying '' any vehicle which is : a. Owned by a `` family member '' ; or b. Furnished or available for the regular use of a `` family member '' . 4 . Any vehicle , located inside a facility designed for racing , for the purpose of : a. Competing in ; or b. Practicing or preparing for ; any prearranged or organized racing or speed contest . |
Does Car Insurance Go Down Every Year? | This question typically arises in the context of an insurance consumer questioning if the auto insurance premium will decrease as the insured vehicle ages and therefore decreases in value . Years ago , all things equal , meaning no general across the board rate increase , the physical damage portion of the policy did indeed decrease as the car value decreased . In today 's world , with the myriad of rating factors determining an individual auto insurance premium you should no longer expect an annual decrease as the car ages . Your agent can provide more insight into your specific situation . | All drivers on your car insurance policy have to be listed ... although not necessarily rated . For example , all family members that are licensed , and live in the household , typically must be rated . That is , they are assigned to a specific vehicle as a principle or occasional driver . Of course , they can usually drive any insured vehicle in the household . `` Family '' car policies are quite prevalent , and offer very flexible coverage . Occasionally , a driver that is a full-time household member has their own car and their own insurance policy . In these situations , although they may be listed on the family policy , that person and their vehicle are not charged . However , if the insurance lapses on that vehicle , then it is possible that they will subsequently have to be rated on the main family policy . Important : This answer was provided by Edward Harris , one of the leading US authorities on auto insurance rates , and the owner of Carinsurancezoom.org , the premier trusted website for obtaining the lowest auto insurance prices in all states . |
Will Homeowners Insurance Cover Injury? | That is going to depend on who is injured and the cause of the injury along with the policy inclusions and exclusions possibly less your deductible . If you are asking about someone being injured on your property that your are deemed responsible for then your homeowners liability coverage may provide for this . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . | A landlord can not make you buy anything you do not want to buy , but they require that you purchase renters insurancewithin the agreement or lease that you signif you want to rent the property that they have to rent . Renters insurance is typically a very low cost insurance and if you combine your auto insurance and renters insurance with one carrier the discount on the auto may almost pay for the renters . |
What Does A Term Life Insurance Mean? | Think of term life insurance as temporary protection against economic liabilities for a family or business . T.E.R.M. = Temporary Expense Reimbursement Money . Term life insurance is a guaranteed premium and death benefit coverage for a certain period in time . Most term life insurance coverage is guaranteed and generally offered in five year increments : 5 , 10 , 15 , 20 , 25 and 30 . A few companies actually allow you to customize your guaranteed period of coverage with certain limitations on age and product offering . | Split dollar arrangements can vary between a corporation and it 's key executives , the grantor of an estate and it 's associated irrecoverable life insurance trust or two parties that share an insurable interest . It is a sharing arrangement between two entities of death benefit and cash values of a life insurance policy . |
What Does A Term Life Insurance Mean? | Term life insurance tends to expire before the insured does . Term is best for temporary needs . We always encourage clients to consider permanent -LRB- cash value -RRB- life insurance for needs that may last longer than 10-30 years . Keep in mind the risk of buying the wrong product . If the term policy will or may run out when needed the most , you have lost one of the essential benefits of buying life insurance , peace of mind . A life insurance professional can help with assessing needs and matching them up with the right solutions . | One way to maximize retirement savings is to take advantage of all tax deferred savings plans you are eligible for . Be sure and take advantage of any employer sponsored plans where the company is putting in on your behalf . Putting aside a fixed percentage of your earning on a regular basis allows the power of compound interest to work for you . 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 . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . |
What Does A Term Life Insurance Mean? | A Term life insurance policy is one that will have the same premium for a set number of the years in the term . Some Term life insurance will guarantee that the premium will not go up for the entire term ; other Term life insurance will guarantee that the premium can not go up for part of the term . E.g. 30 year Term life may be guaranteed not to go up in price for the full 30 years , or it can be guaranteed not to go up for 20 of the 30 years and `` hope '' that it wo n't go up the last 10 years . Term life insurance does not have any cash value . If you quit paying on Term life , it will end after one month . | That is a question for the actuaries that work behind the scenes with the insurance companies that help this companies develop their pricing tables . I have always been told that men are more likely to take greater risk -LRB- like speeding , stunt driving , among other things -RRB- when it comes to driving . |
How Much Is The Cost Of Home Insurance? | In order to assess the Cost of Your Home Insurance , you must obtain a quote by answering some basic questions about the home and a few additional details for the purpose of eligibility and appropriate discounts . The characteristics of the home -LRB- i.e. year built , square footage , style of home -RRB- will help calculate the necessary reconstruction cost of the home ; prior claims experience will help the insurance company assess the probability of risk ; personal details will help assess personal discounts -LRB- i.e. marital credit , maturity credit -RRB- ; and security features will also help apply discount credits to the policy -LRB- i.e. Central Station Alarm , Full Fire Sprinklers , Gate Community -RRB- . There is a link providing an online format to obtain a quote and buy home insurance online in multiple States ; may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK | Term Life Insurance has come a long way from days past when it just paid you a death benefit to your heirs when you passed . Today , besides having the death benefit , you can design your term life policies to give you access to the death benefit if you have a covered Critical Illness or Chronic Illness along with Terminal illness too . This gives you some flexibility during these hard times . Having the Return of Premium rider on there is another option , basically giving you free insurance if you keep the policy to the end of the term . Generally speaking , the return will be equal to 4-8 % if you were to invest the difference . It all depends on your age , the amount of premium and the length of time you have the policy . Talk to a Broker to discuss what makes the most sense to meet YOUR needs . |
What Is Protection Class For Homeowners Insurance? | The Insurance Services Office is an independent organization that sets the protection class for most properties in the United States . Most companies subscribe to this service and issue policies based upon their classification . This information is not always current but getting it updated can be a slow process . For example , often fire districts merge and the service to a location might have previously been 15 minutes and is now 2 minutes . Getting that noted is difficult . | You should know why youre using the retirement plan you have and why youdid n'tselect another . The list of qualified plans has many options : SIMPLE IRA , SEP IRA , 401k , 403b , 457b , 412i , etc. . Non-qualified , but tax advantaged retirement plans like life insurance and annuities . |
What Is Protection Class For Homeowners Insurance? | Standardized Protection Classes are determined by the Insurance Services Organization -LRB- ISO -RRB- . They regularly survey local Fire Companiesand determine these Protection classes based upon a company 's equipment and response time as well as the proximity of fire hydrants within each neighborhood . Insurance companies use this information , in addition to other factors , in order to adjust their base rates to determine the amount of premium that needs to be charged to most accurately reflect the particular risk . Generally speaking , Protection classes run between PC 1 and PC 10 and the lower the number of the protection class the lower the premium . All Insurance companies should be using the same Protection Class ratings , but in practice I have found that this is not always the case . Be sure to check with yor insurance professional to make sure that your home is properly rated t avoid any problems down the line . | Long term care insurance is coverage that pays for personal care needs and other related chronic care services for individuals who are limited in their abilities to perform the activities of daily living -LRB- two or more -RRB- . Activities of Daily Living -LRB- ADLs -RRB- include eating , bathing , toileting , dressing , moving between a chair and the bed , and remaining continent . The policy typically pays for care that is provided in the individuals home , in an assisted living facility , or in a nursing home . Long term care insurance is available on an individual or a group basis . |
What Is Protection Class For Homeowners Insurance? | Protection class is determined by an independent organization called the Insurance Services Organization -LRB- ISO -RRB- . ISO will classify the from PC 1-10 based on the distance to a fire department and fire hydrant among other things . On Long Island , NY most homes are considered protection class 4 meaning they are within 5 miles of a Fire Department and within 1000 ft of a fire hydrant . Some homes in the hamptons are Protection class 9 . This means that they may be within 5 miles of a fire department but they do not have a hydrant within 1000 ft. Many companies will either surcharge the risk or not write it at all . Having said that , if the fire department has trucks that can pump from an existing body of water , at a certain rate per hour , or can hold a certain amount of water they can be eligible for the Protection class 4 rates . Hope this helps ! | Buying life insurance on kids is a good idea because it costs the least it will ever cost in their lives and it also can ensure their insurability . Most juvenille policy will have the option of allowing the child to increase the policy face value at some future point without having to go through another medical exame and pay only what the premium would be based on the amount of coverage added at the price that coverage would be at that age . When purchasing a childrens policy most carriers require that the parents have coverage at the same level as the child 's policy or higher . Contact your local agent to find out what types of policies they have to offer to meet your needs . |
Is Nplate Covered By Medicare? | Nplate is a prescription drug so it would not be covered under Original Medicare -LRB- Parts A & B -RRB- - you can use the plan finder tool on the Medicare.gov website to see what prescription plans will cover the medication as well as enroll in a plan -LRB- if an available time to - e.g. having a special enrollment period or it 's the annual enrollment period -RRB- . | It is always a good idea to have a conversation with your Insurance Professional about the specific terms and conditions of your policy , but damage caused by fire is generally a covered peril in a standard Homeowners ' policy . If the source of the fire is a defect or flaw in your electrical system that needs attention , this is perhaps due to the age of the system . Talk to your agent to make sure that you have coverage to upgrade your systems BEFORE such a loss occurs . Not only might that provide better coverage should you suffer such a loss , but system upgrades may also result in an additional discount saving you money on your Homeowners ' premium . |
What Medicare Supplement Is Offered By AARP? | AARP has endorsed United Healthcare as their carrier of choice for Medicare supplement plans . The plan selection is a bit limited compared to other carriers . In Georgia for example they only offer Medicare supplement plans A , B. C. F , K , L and N . There are almost always plans with other carriers with lower rates . | Unfortunately , you can not get disability insurance while you are already pregnant . The pregnancy would be considered a pre-existing condition , as it would be a certain reason for the disability policy to pay out . As soon as your baby is born , you can apply for either long or short term disability insurance . |
Who Offers The Best Private Health Insurance? | There is no one national `` best of breed '' when it comes to heath insurance . Health insurance is driven at the state level and therefore varies greatly from one state to the next . Even products and rates from the same national insurance carrier will vary from state to state . People 's definition of `` best '' vary from person to person as well . For some it 's the plan with the lowest monthly premium cost for others it is the plan with the richest level of benefits . In that sense , only you can determine what private health insurance plan in your state are the best fit for you . I would recommend you seek out the services of an experienced health insurance agent who is certified to sell health insurance both on and off of the government health insurance marketplace to help you determine what the answer to your question is for you specifically . | The best way to compare life insurance plans is by meeting with your local agent that will have the expertice to describe the plans and provide direction based upon your needs and wants at this point in your life . There are many plans available through many companies have a professional assist you know what is available in your area . |
Who Offers The Best Private Health Insurance? | What is BEST is so subjective . Office Co-pays , Rx Co-pays , Low Deductible , High Deductible , & more all play into the flexible definition of BEST ... . HOWEVER , I do see a growing trend that can put a more objective -- that is the TYPE of network you buy . PPO / HMO / POS / EPO . Do you know what these acronyms mean ? Do you understand the impact on WHO YOU CAN SEE when you pick a different network . In my area , Nashville TN , the difference in networks is HUGE between carriers . The top carrier has 2002 Family doctors in a 50 mile radius of down town ... the # 2 carrier for 2016 ... . only 270 . 86.5 % LESS doctors to go see . Cardiologists : 201 vs 34 ... 83 % LESS !!! I will stand on the statement , `` There ARE better plans . The better plan gives you greater access to doctors & hospitals in your area & possibly nationally . '' | Under the new affordable care act , everyone will have to have health insurance or pay a penalty -LRB- also known as an `` individual shared responsibility payment '' -RRB- . If you choose to pay the penalty instead of securing coverage , you will still be responsible for 100 % of your medical care . The penalty is calculated in one of two ways -LRB- you pay whichever is the higher amount -RRB- . In 2014 , the penalties will be calculated as : 1 -RRB- 1 % of your yearly household income featuring a maximum penalty as the national average yearly premium for a bronze plan . 2 -RRB- $ 95 per person for the year -LRB- If under age 18 , then $ 47.50 -RRB- featuring a maximum penalty per family of $ 285 under this method . The penalty calculations will change each year . In 2015 , method one increases to 2 % of your yearly household income and method two increases to $ 325 per person . In 2016 , it will increase again to 2.5 % for method one and $ 695 per person for method two . The penalty methods will be adjusted for inflation in later years . |
Why Will Health Insurance Rates Go Up? | It is inevitable . The new health care changes coming into effect in 2014 will make everyone insurable , regardless of their current health condition . Health insurers based their rates on a number of factors which include what is called `` insurable risk '' . If you are too high a risk they can elect to not cover you . That will change . Conversely , since their risk exposure will increase it stands to reason the cost to insure others will increase as well . | The only way to determine what the policy covering the companyvehicle provides is to examine the policy to find answers for your questions . As far as your personal auto policy -LRB- PAP -RRB- responding to occurrences while you are operating , maintaining , or using the company vehicle , make sure your personal auto policy provides ` extended non-owned auto ' coverage . Many PAP policies exclude coverage for ` non-owned vehicles available for your regular use ' . This exclusion needs to be deleted or ` bought back ' on every personal auto policy sold in the USA as far as I am concerned . |
Why Will Health Insurance Rates Go Up? | Because of the affordable care act insurance companies must cover everyone regardless of their health . This will increase claims . The companies must also cover pregnancy for all women which is an increased exposure in many cases . Companies can no longer charge according to age , the rates will be determined by community rating . As a result younger people will have their rates go up while some older people may have their rates go down . All of this increased exposure means more claims . The companies will be forced to raise rates to keep solvent . | As Ed Harris said above there are MANY different types of Life Insurance . It is true that there are two basic ` categories ' , which are Term and Permanent , but within those categories there are many different solutions or types of life insurance . For instance , Credit Life is a form of Term insurance which insures a creditor against the death of the debtor . Term insurance is basically `` death insurance '' . It has no cash value and no `` living benefits '' unless it has an ` accelerated benefit rider ' , which pays out or `` accelerates '' a portion of the death benefit in the case of critical or chronic illness . The ` Permanent ' category includes ` Universal ' and Whole Life - which is the only truly permanent type of life insurance . Within these categories there are many types again . There are buy-sell agreements and Key-Man policies designed specifically for businesses . There are variable and indexed policies , which are tied to the stock market or to specific stock indexes . There are `` participating '' and `` non-participating '' policies , which refers to the paying of dividends into the cash value of policies . There are Individual , First to die and Last to die policies . For more information contact an experienced Insurance Adviser / Broker . If in Hawaii I will be happy to help you . |
What Is Modified Adjusted Gross Income For Medicare? | Modified Adjusted Gross Income -LRB- MAGI -RRB- for Medicare is the total of your adjusted gross income and tax-exempt interest income . These are the amounts on lines 37 and 8b of IRS form 1040 . If you file your taxes as married , filing jointly and your MAGI is greater than $ 170,000 , you will pay higher premiums for your Part B and Medicare prescription drug coverage . Singles will pay higher premiums if your MAGI is greater than $ 85,000 . The increases are done on a sliding scale . If you have both Medicare Part B and prescription drug coverage , you will pay higher premiums for each . If you have only oneMedicare Part B or Medicare prescription drug coverageyou will pay an increase only on the benefit you have . Also , in 2013 persons receiving Medicare who have a MAGI over $ 250,000 for married couples or $ 200,00 for singles , and have `` Net Investment Income '' , will pay a 3.8 % Net Investment Income Tax . For more information call Social Security at 800-772-1213 . | One Medicare 72 hour rule is the rule that dictates that you must spend at least three days , or 72 hours , as an inpatient in the hospital before you can be discharged to a Medicare bed in a skilled nursing facility . This means three consecutive nights after being formally admitted as an inpatient . Inpatient status may not necessarily begin the first night spent in the hospital . Another Medicare 72 hour rule relates to billing . It states that services receives 72 hours before a hospitalization must be bundled into one bill . |
What Is The Current Interest Rate On Annuities? | Deferred annuities normally have a guaranteed interest rate identified in the contract . That is the lowest rate of interest that the company will pay . However , to remain competitive with other investments the company will frequently credit interest on a current rate . That rate is normally higher and is adjusted periodically . Sometimes that rate is applied only to new money . | Yes , you can use HSA -LRB- Health Savings Account -RRB- funds to pay for Long Term Care Insurance . There is a limit on what the premium can be that comes from the HSA . In 2012 , the limit for someone age 40 was $ 340/year while the limit for someone age 71 or older was $ 4,240 / year . The Long Term Care policy must be guaranteed renewable , not have a cash value that can be depleted before use , and not reimburse what Medicare will reimburse . Also , if there are refunds , they must be used to reduce premiums or increase benefits . |
What Is The Current Interest Rate On Annuities? | That is a great question ! But a difficult one to answer ... Most companies will offer several interest strategies on an annuity , and those can be dependent upon market fluctuations , or contractual stipulations . They can change daily . Other annuities will have set interest rates that may change monthly , or may remain the same . Rates will vary from company to company , and from annuity to annuity within the company . Your best bet is to contact the agent for the company you are interested in , and ask for the current rates . Anything that I 'd tell you here would most likely change before you read it . But thanks for asking ! | CMS , Centers for Medicare and Medicaid Services regulate the new qualified health care plans . They also keep an eye onMedicare , Medicaid , the Children 's Health Insurance Program and the Health Insurance Marketplace . Keep in mind if a health insurance policy does not meet all the requirements of the new healthcare refore law then you would still be penalized for nothavinginsurance |
Is Life Insurance Required? | No , life insurance is not required by law . Sometimes a court will order that life insurance be purchased as part of a divorce settlement , and some lenders require the purchase of life insurance as collateral for a loan . But there is no federal or state requirement that people buy life insurance , at this time . | The one that meets all of your needs at a price that you are willing to pay . You first should find yourself a local agent that you that you are comfortable working with as they will be your liason between you and your carrier . They will also be the one that you contact to get answers to your questions and recommendations for other coverage . |
Is Life Insurance Required? | There is no law that requires a US citizen to purchase life insurance like the new ACA law that requires all US citizens purchase health insurance , There are situations where life insurance can be required such as court ordered due to a divorce or child custody case or even adoptions . Also lenders such as mortgage companies can require a person to purchase life insurance to secure a large debt . | That is a great question ! A ten year term policy is one that provides you with the specified amount of coverage for the ten years as defined in your policy . On the day your policy expires , you have no more coverage , and no cash value or benefit to take from it . You can renew your policy , but it will dramatically increase in price . Typically a policy like this is to insure against a short term loss , like covering a college career , or a mortgage , or to provide a cheaper form of life insurance when money is tight . If you would like more details , please feel free to contact me , okay ? Thanks for asking ! |
Is Life Insurance Required? | There is no legal requirement that anyone have life insurance . However there very clearly is a moral , ethical , and loving requirement to have at least some life insurance . Anyone with a spouse , children , loved one , religious or charitable ties , has a responsibility to make sure their family is provided for in their absence . How would your spouse survive without your income or assistance ? How could they pay someone to provide what services you provide and care for the children ? How would the mortgage be paid ? I can help assist you in your planning and provide you with a series of alternatives , for you to select the one you can comfortably afford and be secure with . | You certainly can , if you have reasonable assets . Otherwise retired folks could not get life insurance , regardless of their wealth and health . The issue may be what is your asset level and can you reasonably pay the premiums . A company may not want to issue a policy to someone asking for ten million dollars coverage and only having a net worth of one hundred thousand . It would be too tempting for them to have themselves killed or do it themselves after two years , in order to have their family gain the wealth . Other than that , the fact that the person may not be employed should not matter . Gary Lane , Agent , New York Life . 949 797 2424 . |
Is Life Insurance Required? | Not yet but that may be the next `` requirement '' on the list of surprises that Washington has in store . If you do not have life insurance what type of `` burial '' do you desire and and how will you pay for that type final disposition upon your death ? Do you plan to be cremated , funeral home service , or have the big funeral in the church of your choice ? There are `` funeral policies '' available and in recent years the `` final expense '' policy has become very popular | Permanent life insurance has two products that accumulate cash values : Participating whole life insurance and universal life insurance . Borrowing from participating whole lifeinsurance has two types of policy loans that charge interest : spread loans and direct recognition loans . But before you borrow via loans that will cost you money , take the dividends up to your basis -LRB- your contributions -RRB- free of charges . Universal life -LRB- UL -RRB- has three cash value accumulating contracts : Current Assumption Interest Rate UL , Indexed UL and Variable UL . There are four different policy loan provisions that most UL use . Zero net cost loans , wash loans , spread loans andparticipatingloans.But before you borrow via loans that will cost you money , take your basis first -LRB- your contributions -RRB- free of charges . But be advised takingbasisfirst could trigger an ordinary income tax event for policies datedafterJune 21 , 1988 . Consult your taxadviserbefore moving forward accessing you policy using withdrawals . One last thought : Policy loans are not treated as taxable incomeproviding thatthe policy is kept in force for the lifeofthe insured , i.e. until the insured dies . If the policy is surrender orlapses out of coverage , an ordinary income tax event willoccurfor policy loansreceivedand internal policy loans that have accumulated.Consult your taxadviserbefore surrendering orallowingyour policy to lapse . |
Is Life Insurance Required? | Here is the legal angle : Life insurance is not required by federal or state law . The government leaves it up to the citizenry to take care of our families , business , and charities . Good thing . We dont need more regulation or taxation . However : Life insurance is required by some legal contracts . Lenders may make a policy mandatory before closing on a business loan . Investors may call for a policy before injecting money into a business . Divorce decrees typically do obligate the participants to carry coverage . An additional point : I personally believe that life insurance is a moral obligation . You have a spouse and children financially dependent on you . You have the employees of your business dependent on you . If you have made a commitment to certain causes , you have those communal and social organizations dependent on you . Why let them down ? Life insurance lets the show go on for these folks . | Assuming you are referring to the proceeds from a death benefit on a life insurance policy , the process does not take long . Once the claim is submitted , it will be processed and a check can often be sent or deposited into a money-market-like find within 10-14 days . Working with a full-time agent will help you secure the proceeds quicker . |
Who Sells Homeowners Insurance? | That is a great question ! There are a ton of reputable companies that offer homeowners policies . It is a good idea to shop around , and get several quotes . Ask your friends and family who they used , and how they like the service and policy coverage . Look at some ratings companies like A.M. Best , or Standard and Poors to gauge the financial stability of the company , and their ability to pay claims . Then choose your best option . Good luck , and thanks for asking ! | An immediate annuity is a contract where you pay the insurance company a lump sum of money and they guarantee to pay monthly benefits for the balance of your life . It is the most basic annuity . Life insurance addresses the risk of dying to soon . An immediate annuity addresses the risk of living too long . It is an essential part of retirement income planning . |
Who Sells Homeowners Insurance? | Homeowners insurance is sold by a licensed insurance agent . If you do not have a relationship with an agent , get recommendations from friends , colleagues or neighbors . A good agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . Selecting appropriate limits is the key to having the insurance you need when you need it . | Disability insurance is just that ! It covers you should you be unable to perform your job due to an accident or illness . Some companies consider disability to include `` any occupation '' while others consider disability to mean that you are unable to perform the duties of your own occupation . When selecting a disability plan make sure you choose `` own occupation '' over `` any occupation . '' |
How Much Do Life Insurance Brokers Make? | That is an excellent question . The answer is that the income depends upon the agent . We are paid on commission , meaning that if we do n't sell , we do n't get paid . The agents that are good at sales , and are motivated to work hard can make a ton of money . Many agents are working around kids ' school activities , or a part time job , and make considerably less . It really is all up to them . Thanks for asking ! | There are not many companies that sell short term disability policies on the private market , but yes , you can buy short term disability insurance . If it is offered through your workplace , that is usually your best price . But a good broker -LRB- like me -RRB- would certainly be happy to help you find a private policy if that is not available to you . |
How Much Do Life Insurance Brokers Make? | Life insurance brokers are typically paid based on performance . If fact broker are usually on commission so how much they earn can vary dramatically . Providing an average would be misleading . I know agents and brokers who earn who earn $ 25,000 and others that earn hundreds of thousands - in the same company . There are even a few that command 7 figure incomes . The answer to you question is that what life insurance brokers is up to them . There is no limit . | For the first 60 days of inpatient hospital care , you pay $ 1,184 and Medicare pays the rest . You pay $ 296 per day for days 61 through 90 . After that , you pay $ 592 per day until your total of 60 lifetime benefit days are used up . Then your benefits for hospital stays run out . |
How Much Does Permanent Life Insurance Cost? | The cost of Whole Life insurance depends on many variables : your age when you take it out , your health at the time you take it out , whether you are a tobacco user , and the type of Whole Life policy you choose . Putting off purchasing life insurance for just a few years can make a big difference in premiums when you are buying a permanent product . The best answer I can give is to meet with an agent you trust -LRB- someone you know or an internet agency that appears reputable and offers Whole Life -RRB- and discuss your options . Whole Life can be affordable when purchased correctly . | No , long term care insurance is offered by insurance companies to mitigate the cost of assisted living and nursing home care . It pays for ongoing assisted care , generally during the later years of retirement when seniors need some degree of help and assistance in their daily lifestyle as they grow older . |
Who Should Consider Long Term Care Insurance? | Everyone . You never know what will happen in life . Having long term care coverage provides coverage if you should need it for things like in home care and care in a nursing home amoungst other things . To make certain that you are getting the coverage that will best fit your needs contact your local agent and they will help you find the products that will work best for you . | The elimination period for Disability Insurance is the time period between the time that the disability occurs , and the time when the Insured person collects the first benefit . For Long Term Disability Insurance , a common elimination period is 3 months , but it can be much shorter or much longer . |
What Is Protected Under Renters Insurance? | A renters policy covers damage to your personal property located at the residence . This would include your clothing , furniture and most other things . This coverage has a specified limit . The policy also covers you should you be sued for an occurrence that qualifies for coverage . The suit must be seeking damages for bodily injury or property damage and must not be excluded by other provisions of the policy . This coverage has a specified limit . | Health insurance premiums will godown ... some day . Perhaps that day will be sooner than you think . InOctober , Open Enrollment begins for 2014 plans . And for many consumers , a federal tax subsidy will be applied to your premium , if you qualify . The subsidy is based on household income so if you are a low-incomeearner , you will benefit . So ... it appears , for some persons , your health insurance premiums will go down in early 2014 . That 's not far away ! |
How Long Does Disability Insurance Pay? | Disability Insurance pays for as long as your plan dictates , while you are disabled . You pick a benefit length when you purchase your policy . You can buy plans that pay for a number of years , or that pay a lifetime -LRB- to age 65 -RRB- . If you buy a three year plan and are disabled longer than three years , the plan will stop paying three years after the disability occurred plus the days in the elimination period . | It is always a good idea to check with your Insurance Professional when you are planning to rent a car . In many cases , the coverage that you have on your car -LRB- s -RRB- as provided by your Insurance Carrier , may extend over to a rental . It is important to consider , however , that this extension ov coverage may only apply to private passenger cars . In other words , if you are planning on renting a UHaul , for example , it may be neccesary in that situation for you to purchase the short term coverage that may be offered with the rental agreement . |
How Long Does Disability Insurance Pay? | Along with what Steve and Peggy mentioned , some carriers will offer 2 , 5 or 10 year benefit periods , too . The smaller the benefit period , the cheaper the policy . Often times , carriers will write the policy with a smaller benefit period if the client has a medical condition , a risky profession , etc. . | The answer to this depends on if you believe the HHS , the media or the Republicans . The Republicans seem to suggest that billions of Medicare funds are going to be reallocated to Obamacare -LRB- PPACA -RRB- . The HHS seems to suggest that redundant services offered through two government programs will be modified . |