question
stringlengths 8
278
| actual_answer
stringlengths 77
6.04k
| incorrect_answer
stringlengths 77
6.04k
|
|---|---|---|
What Happens To My Renters Insurance If I Move? | I am with Mark on this one , but be sure you are dealing with a licensed agent in your new locale . Agents and Insurance in general is governed by the various 50 states . So , if you move out of one state to another the coverage may need to be rewritten or the agent may not licensed there . Your existing agent or company can often offer referral information or references in the new state.They are there to help you so avail yourself of there services . | The proper car insurance deductible is as unique as the person driving the vehicle which needs to be covered ! While there is no single answer , here are some helpful tips : The higher the deductible , the lower the premium -LRB- You 'll be responsible for paying more out of pocket in the event of a claim -RRB- . The lower the deductible , the higher the premium -LRB- You 'll be responsible for paying less out of pocket in the event of a claim -RRB- . Determine how much cash and credit you typically have available as well as your monthly disposable income -LRB- The higher this number , the higher the deductible can be potentially -RRB- . Determine the current value of your vehicle -LRB- Trade-in , not retail -RRB- and consult your agent about it 's safety features . A rule of thumb is that the more valuable the vehicle , the higher the premiums -LRB- A higher deductible can offset this increased cost -RRB- . Be aware of your surroundings - if you park on the street or live in an area with a high propensity for glass damage , consider a lower comprehensive deductible . As always , please discuss it with your insurance agent prior to making a decision regarding your deductibles ! Joel Guilbert Liberty Mutual Insurance 480-685-7309 |
What Happens To My Renters Insurance If I Move? | Most renters insurance polices will just follow you during the move . In fact the policy should cover you in both places for up to 30 days . I recommend you contact your agent to advise of the move so your agent can update your policy to reflect your new location and any coverage changes that may be needed . | That is a great question ! There were some types of travelers insurances offered in the 1840 's that covered you if your train crashed or steamboat sank , but other than that , there really was n't much until the late 1800 's when disability policies became popular . Britain passed a law in the early 1900 's that created a `` National Health Insurance '' , and most of Europe kind of adopted similar laws , but we did n't catch on until 1929 when us Texans -LRB- Baylor University Hospital , and some local teachers , I think -RRB- created a system of standardized costs for hospital stays . Shortly thereafter came Blue Cross/Blue Shield , and then all kinds of competing companies . The history of insurance is interesting stuff . Thanks for asking ! |
What Is Covered Under Medigap? | What is covered under Medigap ? Well , it will depend on what plan choice you decide upon . There are different supplements indicated by a letter that provide different levels of coverage to fill in those gaps in your Medicare A and B coverage . You can choose those options that your state allows to be sold in it . There usually are several choices and costs to choose from . | Reassure America Life Insurance Company was acquired by Valley Forge Life Insurance Company in 2007 . Valley Forge is a subsidiary of CNA Financial Group . To contact Reassure America about a life insurance policy issued in the past , you can call or email CNA at 800-437-8854 or cna_help@cna.com . They are located in Nashville , TN . |
What Is Covered Under Medigap? | Medigap Plans are designed to cover what Medicare Part A & B does not . Which plan you have will depend on how much it will cover . For example , Plan F covers all deductibles , coinsurance and copays of Medicare Part A & B . It is the most comprehensive plan on the market , however , there are some other great plans that may fit your needs as well . I would be happy to answer any other questions you have . | Forester 's Life Insurance is offered through the Foresters fraternal benefits society . They sell insurance in the United States , Canada and the United Kingdom . Policyholders become members in their organization and become eligible for member benefits . To compare Foresters Life Insurance quotes , company information and policy features with other companies , contact a website that offers free quotes or consult your local agent . |
What Are Annuity Surrender Charges? | That is a great question ! The idea behind a deferred annuity is that it sits for a period of time so that the money can grow . While your money is in that account growing , the insurance company is counting on it to make investments with , and if you pull that money early it defeats the purpose , so the company charges you for doing it . These charges are the surrender charges . They are usually highest in the first year that you have the annuity , and lessen as time goes on , until you have reached the contracted limit . These fees often start at 10 % , so they can be very costly . Hopefully your agent explained this to you very clearly , and did a suitability study with you before you bought the annuity . I hope this helps , if you have questions , please drop me a line , okay ? Thanks for asking ! | There are many companies that have life insurance they are all good companies due to a life policy being a legal binding contract . So the questions a client should ask to themselves is what are my goals ? And what will they use it for ? There 's so many ways that a client can invest their money to change the families life style forever , And the husband or spouse does n't have to pass to use the money . The new living benefits investment can be just for that and a yearly income if you should live . Families are living longer with modern technology but also at higher risk for financial ruin due to high cost medical or nursing home care it essential in the 21st century to use a financial consultant . John Cole Virtual Financial Group Recruiter / Manager |
What Are Annuity Surrender Charges? | An annuity is a long term cash accumulation product . The rate of interest being promised by the insurance company is geared to the companys long term investment program . When an annuity is surrendered it interrupts the companys plan forcing it to liquidate assets . This could come at an inconvenient time . Much like any other long term accumulation vehicle the company requires a surrender charge . This charge normally reduces to nothing over a period of years . | As long as the policy has accumulated cash value you can surrender the policy for the amount of cash value in the policy . At that point the policy becomes null and void . You can take a loan on the policy without losing the insurance . If you simply need cash but also need insurance , this would be a much better option . |
What Does Renters Insurance Pay For? | The company pays for everything for which you become liable by law involving bodily injury or property damage . The company will defend you in such a lawsuit up to the limits of the policy . The company makes you whole if you lose personal property due to a covered loss . It pays for your personal property while you are in school . It pays for additional living costs if your unit is unfit because of a covered loss . It pays for the removal of your property to avoid further damage . It pays for removal of debris in the event of an insured loss . It pays for fire department charges . It also pays for trees , plants and shrubs , grave markers and improvements you make to the unit . There are other coverages which are included and others which are optional . | Humana Choice PPO would be a Medicare Advantage plan . When you are on Medicare and have a Medicare Advantage plan , coverage falls under the benefits described in your Medicare Advantage plan . It does not get billed to Medicare first and then to the Medicare Advantage plan carrier -LRB- in this case Humana -RRB- or vice versa . It would only be billed through Humana - the carrier pays their portion and you would be responsible for the portion dictacted by the plan benefits -LRB- e.g. you may be responsible for a deductible and then a coinsurance/copayment amount , etc. -RRB- . Medicare Advantage plans are senior health insurance plans that work similarly to the under 65 health plans -LRB- deductibles , copays , coinsurances , max out of pocket expenses , networks , etc. -RRB- . In short , the gov ' t pays the carrier x number of dollars for each enrollee under the plan and the carrier takes the risk of expenses . So when you have a claim , the claim gets processed through the carrier rather than directly to Medicare . Medicare Supplement plans -LRB- also known as Medigap plans -RRB- operate as a supplement -LRB- key work there - supplement -RRB- to original Medicare -LRB- your Part A & Part B coverage -RRB- . When you have Medicare and a Medicare Supplement plan , the physician -LRB- or hospital or other facility -RRB- bills Medicare and then bills the carrier for their portion of charges - depending on which plan letter you have , you may be responsible for a small portion or nothing at all . The idea of a Medicare Supplement plan is to create a predictable expense structure for your healthcare needs rather than taking on a larger portion of risk of expenses on claims . Plus , the Medicare Supplement plan structure allows you to go to any doctor that takes Medicare , meaning no networks and they are not restricted to annual enrollment periods like Medicare Advantage plans are . If you want to take a look at a Medicare Supplement plan to see how it compares , I can help you with that . The Medicare Advantage Disenrollment Period -LRB- MADP -RRB- is from January 1 - February 14 of each year so you have an option to change if you decide to do so . Please note , depending on several factors , you may or may not be subject to medical underwriting for a Medicare Supplement plan -LRB- e.g. whether you are new to Medicare , this is your first time in a Medicare Advantage plan , whether you have a guaranteed-issue right , etc. - I can help determine this -RRB- . My contact information is cited on my agent profile - you can access it by clicking on the `` contact me '' button . I hope the information is helpful - please let me know if you have any other questions I can assist with . Thanks very much . |
How Can I Compare Long Term Care Insurance Quotes In Illinois? | Comparing Long Term Care plans can be confusing for most people . Sometimes the underwriting process can be lengthy and LTC plans can be costly . When you 're looking through the information from the different companies and they talk about the average length of stay in a nursing home , you have to look beyond the stated number that includes all ages and focus on ages 75 and older . When you look at that age group nearly 3 out of 10 spend less than 100 days and the other 6 spend less than two years . Fro most people I 've found that Short Term Care Plans are a much better choice . They can provide the same type of income for a fraction of the cost . Most plans are issued in under 10 day . | Great question ! Unfortunately , it will be very difficult to find out . Privacy laws will prevent insurers from sharing who has or does n't have a policy with them , and frankly , there are really very few reasons why you would have a right to know . If it is for a parent , or a loved one who suddenly passed and left their affairs unsettled , then their lawyer or financial adviser may be able to help you , but unless you are entitled to know , I would n't count on them telling you either . I 'm sorry that this is n't a very positive answer , but if you would like to discuss it further , please contact me . Thanks for asking ! |
How Can I Compare Long Term Care Insurance Quotes In Illinois? | To compare Long Term Care Insurance quotes in Illinois , contact one of the contributors on this board who write about Long Term Care Insurance , or get a referral from someone you trust . When you are given long term care insurance quotes , they will be presented in a grid that compares the features and rates of at least 2-3 of your best options . With someone explaining those , it makes the process much simpler than you might think . | Life insurance that is kept in force for a persons whole life as long as the scheduled premiums are maintained . All Whole Life policies build up cash values . Most Whole Life policies are guaranteed as long as the scheduled premiums are maintained . Term insurance is the type of life insurance that provides protection for a specified period of time . It usually has no real cash value build up . They do have term policies that will return all of your premiums back to you at the end of the term period if you out live the policy . |
How Can I Compare Long Term Care Insurance Quotes In Illinois? | Long term care insurance has a small field of companies that offer full coverage policies . There are several online brokerage outlets that offer the many of the core carriers in the long term care market . Some of them spreadsheet the cost and the policy provisions for a side by side comparison . One of the leading companies is Genworth . | Term insurance exists , unless it pays out , for its stated length - in the case of your question ,20 years and then ends . It does not accrue any cash value . Level term means the premium is the same for the entire twenty years . Some policies can be renewed without health questions at an age appropriate premium . |
Can I Rent A Car From Enterprise Without Insurance? | If you do not have your own insurance policy to protect you when you rent a car you do have the option to purchase the insurance provided by the rental car company . You must have one or the other as any rental car company will not let you take their vehicle on the road without insurance . Keep in mind the insurance provided by the rental car companies are generally state minimumcoverage 's . | Medicare Supplement Plan A is required to be offered by all insurance companies who offer Medicare supplement plans . This plan covers 100 % of the basic benefits that can be offered by insurance companies under a Medicare supplement plan and is suitable for individuals on a budget who want to have a little more coverage than what Medicare Part A and Part B provides . Medicare Supplement Plan A Covered Benefits : 1 -RRB- Medicare Part A coinsurance plus coverage for 365 additional days after Medicare benefits are used up 2 -RRB- Medicare Part B coinsurance or copayment 3 -RRB- First 3 pints of blood 4 -RRB- Part A hospice care coinsurance or copayment Benefits not covered : 1 -RRB- Skilled Nursing Facility Care coinsurance 2 -RRB- Medicare Part A deductible 3 -RRB- Medicare Part B deductible 4 -RRB- Medicare Part B excess charges 5 -RRB- Foreign travel emergency -LRB- up to plan limits -RRB- Medicare supplement plans can be purchased through an insurance agent/broker . |
Does Everyone Pay The Same For Medicare? | While Medicare Part A is free to everyone who qualifies for Medicare by having paid into Medicare taxes for 40 quarters , Medicare Part B has a premium . This premium is the same for most people , but not all people . Persons with higher incomes pay proportionately more for Medicare Part B , and as of 2011 , higher income Medicare recipients also pay more for Part D . | No . Routine checkups and other common dental services would not be covered by Medicare . Medicare may cover some procedures under certain conditions -LRB- e.g. you had to go to the emergency room and it was medically necessary to repair something in your mouth immediately -RRB- - you can check with Medicare if you 're not sure if a given procedure would be covered . You would need to add a separate dental insurance plan to provide coverage for routine services . |
Does Term Life Insurance Build Cash Value? | There are term policies that have cash value . The reason that these policies exist is to provide a measure of extra flexibility at the end of the contract . These policies generally renew at a lower premium than standard term policies and also can assist in the initial premium if the insured decides to convert the policy to whole life or some other form of permanent insurance . | Life Insurance is generally not taxed at death , but may be includable in the estate and , if so , taxed at estate tax rates . There are also business scenarios , where the death benefit is paid to the corporation that may trigger ordinary income tax or be treated like a preference item which could also trigger the alternative minimum tax . |
Does Term Life Insurance Build Cash Value? | That is a great question ! There is a reason why term life policies are so cheap , and a reason why you should know exactly what these policies are best designed to do . There is no cash value in a term life policy , as your premium is designed to only cover the cost of the insurance . The policy reaches its term and ends , and you walk away , or pay dearly to renew . This can be a real issue when you learn that the policies advertised so heavily by companies like AARP and AAA are term policies that end when the policy holder turns 80 . I hope that helps , thanks for asking ! | It may if you have full coverage on your automobile insurance -LRB- this would include the term `` comprehensive '' or `` other than collision '' -RRB- and may be subject to the policy deductible . 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 . |
Does Term Life Insurance Build Cash Value? | One type of term policy that does build cash value is ROP -LRB- Return of Premium -RRB- Term . Most ROP Term policies will pay back part of the premium you pay in , if you keep the policy past the halfway mark . If you survive and keep the policy to the end of the term , you get back all the premium you paid in . These policies start out at a higher premium than regular term insurance , but when the premium is returned , it is not taxable . So return of premium term life insurance can be a good way of getting death protection and a form of savings at the same time . | Yes and no . Settlement amounts which are to cover vehicle repairs or even replacementand amounts to cover medical expenses resulting from the accident should not be taxable . Ifyou are compensated beyound medical expenses and vehicle repairs or replacement , such as lost wages , etc. . These amounts may be taxable . Tax laws change from year to year . Consult your local tax advisor to know what would be taxable under your set of circumstances . |
Does Term Life Insurance Build Cash Value? | No , term life insurance does not build cash value . The idea of term insurance is to get the most `` bang for your buck '' meaning your getting a lot of coverage for a low rate , because the premiums are only fixed and guaranteed for a specific number of years -LRB- e.g. 10 , 15 , 20 , 25 , or 30 years -RRB- . Only permanent insurance -LRB- universal life and whole life -RRB- programs build cash value . Please feel free to send me a private message if you would like assistance with your life insurance program . | 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 ! |
Does Renters Insurance Cover Broken Glass? | It may . Depending on the circumstances that led up to the broken glass your renters insurance may provide coverage to repair the glass less your deductible . 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 commercial auto insurance policy is a policy that is typically used for a business with vehicles titled in the company 's name . A commercial auto policy is typically priced differently than a residential auto policy due to the difference in the risks . Please contact a local agent to find out more about availability of coverage and pricing in your geographic area . |
Does Homeowners Insurance Cover Roof Damage? | Yes typically it is covered and covered on a replacement cost basis . Due to the frequency of major hail and windstorms in several states , we are seeing several companies offer only Actual cash value for older rooftops . So be sure you understand what your coverage is and how it will respond to a hail or windstorm -LRB- tornado or hurricane -RRB- . In some state per cent deductibles have been in use for decades such as in Texas . However much of the country has dollar amount deductibles . Also be aware that coverage is not automatically available in the voluntary market in all areas of coastal states So if you live in the fourteen counties in Texas along the Gulf or in Florida every where , you may have to obtain wind and hail coverage through a residual market mechanism such as the Texas Wind Insurance Association or Citizens Property Insurance in FL . A local agent in any coastal state should be a good starting point to understand what is available and where in your part of the country . | Assuming the question is related to guaranteed interest rate annuities , annuity companies offer guaranteed fixed interest rates for a guaranteed period . Those guaranteed periods range from 5 to 10 years . Currently , rates range from 2.75 % to 3.2 % . Rates can change , so always confirm the rate before buying a fixed rate annuity . |
Does Medicare Cover Hep B? | Yes , Medicare will cover Hep B . If you 're asking `` Can I get Medicare if I have Hep B '' ... You can get Part A -LRB- hospitalization -RRB- , Part B -LRB- out of hospital -RRB- , Part D -LRB- drug coverage -RRB- and Part C -LRB- Medicare Advantage -RRB- . If you wish to purchase supplemental coverage such as Plan F , the is no underwriting when you age into Medicare , but there may be underwriting beyond that . | Group life insurance contracts are not covered under COBRA : you are not guaranteed the ability to continue coverage . Many group plans have a conversion feature - but all . Each group policy has its own set of conversion rules . You may be able to convert the policy to an individual contract provided you complete the process shortly after leaving employment . Typically the premium rates are much higher for people converting as the adverse selection often very high . The majority of people converting are those with existing medical conditions who are unable to qualify for a policy on their own . |
What Is The Cheapest Health Insurance In Michigan? | The cheapest health insurance plans available in Michigan are catastrophic plans or high deductible health plans . These policies make all medical covered medical expenses -LRB- except preventative services -RRB- subject to your deductible and coinsurance before insurance benefits begin to payout . All major carriers offer these types of plan to keep costs down while still providing major medical benefits to the insured . If you 're looking for this type of plan and the enrollment period is closed you 'll want to look for a catastrophic short term medical plan to carry until the next enrollment period through the health marketplace . You can find me at : www.clminsure.com or always call at 561-320-2978 | If you have found that life insurance is expensive in Wisconsin , it is probably due to one or more of several reasons : 1 -RRB- You are an older person . The younger you are , the cheaper life insurance is , when other factors are comparable . 2 -RRB- You smoke . Tobacco rates often run three times nontobacco rates . 3 -RRB- You have a health condition . Health can make a big impact on life insurance premiums . 4 -RRB- You are buying permanent insurance . The longer you lock in the rate , generally , the more it costs . But then you do not have to purchase a new policy at an older age , when the short term policy runs out . 5 -RRB- You do not have a selection of policies from which to choose . Using a broker can help you get the lowest cost . |
How To Calculate A Deferred Annuity? | This ca n't be answered without much more information . If it is a variable annuity , the accumulation may vary as can the actual payout . If it is a fixed annuity , this will be explicitly outlined in your paperwork . This is assuming you are talking about payout . If you are talking about amount and duration required to pay in for a certain income , it would be best to talk with an agent in your area . The agent will be able to assist you in coming up with the desired income from the annuity and you can work backward from there . | A fully paid up life insurance policy means that no premiums are necessary to keep the policy in force . Depending on how the policy was built , the paid up status may be sometime in the future because you are paying more premium initially . Or the paid up status could be immediate . Whole Life Insurance often times has a paid option during the premium paying years . You might see on an illustration a paid up column meaning that is the death benefit you can get if you stop paying premium at that time . |
Will Homeowners Insurance Cover Water Damage From A Roof Leak? | Homeowners insurance will cover water damage from a roof leak if the roof sustained damage from a recent storm and the damage to the roof resulted in damage inside the home . If the roof has issues that have gone unrepaired , water damage in this circumstance would not be covered . The roof damage and the water damage must have occured at the same time . Keith Prim - Dallas , TX 214-435-0791 | Your health and the ability to pay the premium are two issues to overcome before buying long term care insurance . Your personal information will be underwritten generating an offer or declination from the insurance company . Your gender , age , smoking status , health history and current health condition all contribute to your offer . After the insurance company 's offer , you 'll need to assess if the premium is affordable or not . |
Will Homeowners Insurance Cover Water Damage From A Roof Leak? | I agree with what Keith has said above . As long as you follow the conditions of the policy , and thewater damage to the home occured at the same time as the roof damage you should be covered . As long as whatever caused the damage in the first place is a covered cause of loss.The conditions of the policy will state that the insurance company does not have to provide coverage under the policy if you have failed to comply with the duties responsible by you , an `` insured '' seeking coverage , or a respresentative of either . A helpful acronym explaining your duties is PINES . Protect the property from further loss Inventory the damaged property Notify the carrier or agent Exhibit the property to an adjuster Submit a sworn proof of loss . So if the cause of loss is covered and you followed the conditions , yes you should have coverage in place . Have a great day and good luck with your claim . Best , Josh DeBoer 918-582-8206 | Social Security is often the primary source of retirement income . Maximizing the retirement benefit from social security requires planning . A mistake in selecting the time to start benefits can be significant . It is not always apparent when the best time to claim benefits would be . Consult with a trained retirement income specialist for the latest information . |
What Percent Of Americans Have Long Term Care Insurance? | Approximately 10 % of Americans have Long Term Care Insurance . Many long term care insurance plans are now tax qualified so that premiums can be deducted on income tax . Most policies now also cover all levels of care , including at home benefits . These efforts to encourage more Americans to buy more long term care insurance are complicated by the fact that rates are going up and fewer companies are selling Long Term Care insurance . But for that percentage to has it , there are many benefits . | Yes , people can collect Social Security Disability benefits , and do not have to buy private Disability Insurance to get cash while being disabled . However , to get Social Security disability benefits you must generally be disabled for at least a year , and be unable to work -LRB- or be trained to work -RRB- at any job . Private Disability Insurance pays benefits more quickly . Also , with DI , if you have the `` own occupation '' feature , it pays if you can not work at your OWN job , not just ANY job . Finally , private disability insurance pays a higher benefit than Social Security DI . You can even supplement SSDI with DI . |
When Should I Buy Disability Insurance? | You should buy Disability Insurance when you realize that you or your family could not get by without your steady income . Like Life and Health insurance , Disability insurance is partially based on the health of the insured person , so it is also best to buy it before you have a health condition that would increase your chances of becoming disabled -LRB- e.g. MS or diabetes -RRB- . | Check with your company but I would say no in most cases . Breast Pumps are not a medically necessary item , they are more of a convenience and really not that expensive anyway . If there is a medical necessity then it is possible your company would approve the breast pump . |
When Should I Buy Disability Insurance? | As soon as you rely on an income -LRB- which for most people , that 's always -RRB- , you should look into getting disability insurance . It 's important to realize that workers in their 20s are n't necessarily too young for DI because they 're typically in better health . If you wait until you 're older , there 's a greater chance that you 'll have a pre-existing condition . | You Need Critical Illness Insurance to cover major ongoing medical expenses incurred by a prolonged illness . You need critical illness insurance if your family medical history is predisposed to chronic health problems or diseases that run in your family throughout recent generations . As you grow older , you may be vulnerable to respiratory problems because or chronic smoking or obesity that lends itself to a variety of health problems . |
What Is The Maximum You Can Contribute To A Roth 401K? | A Roth 401k is a designated Roth account . A designated Roth account is a feature in new or existing 401k , 403b or 457b plans that permit such plans to accept designated Roth contributions . The combined amount you can contribute to all designated Roth accounts in any one year for an individual under 50 years of age is $ 17,500 for 2014 . If you are age 50 or older by the end of 2014 , you can add an additional $ 5,500 in catch-up contributions . You can also contribute to both a Roth 401k and a Roth IRA in the same year which can increase the total contribution amount by $ 6,500 if you are 50 or older . | When buying life insurance for your husband , first gather his health information : the medications he takes , his height and weight , any weight loss of over 10 pounds in the past year , and a history of health conditions he has had -LRB- including the year he was diagnosed -RRB- . If he has had a bankruptcy , felony , DUI , or other risk factors , try to recall the date it occurred and/or was discharged . Ask your husband whether he objects to taking an exam . Then , using all this information , shop for his best rate . He will need to complete and sign the application as the insured . Either of you can own the policy . The policy owner and person making the payments will also sign the application . If the policy does not need an exam , your husband may need to do a phone interview with a representative for the life insurance company . If it is a medically underwritten policy , it will require an exam to be done in your home or place of your husband 's choice . Once approved , your husband will need to sign some delivery requirements to put the policy into effect . If you are the policy owner , you will need to sign them , as well . |
What Happens If You Don't Have Car Insurance In Connecticut? | That can be a problem on a few levels . There is , of course , the obvious . If you have a car and no insurance , then if it is damaged in an accident or stolen for example , you pay for your own loss . Without insurance , if you cause an accident , you 'll also pay for the damages and poossibly injury to the other person and their car . Needless to say , in either case , you are out quite a lot of your hard earned money . But here is another problem you will have . CT , like many states require car insurance in order to register a car . If you cancel your insurance , eventually CT DMV is going to catch up with you and the fines can be pretty stiff . Bottom line , the best advice for saving money is to buy and maintain quality car insurance protecting you for the coverage you need . | If the vehicle you are renting is over 10,000 GVW -LRB- gross vehicle weight -RRB- most likely your insurance provider will not cover a U-Haul . If the U-Haul is under 10.000 GVW there may be coverage . The best advise is to call your local agent to answer this question as your agent would befamiliarwith the specificdetailsof your policy . In some cases there may be an endorsement for vehicles over 10,000 GVW . Just never assume a U-haul is like a rental car and watch those over hangs at gas stations . |
How To Write A Life Insurance Claim Letter? | How to write a letter for a life insurance claim ? There really is n't a need to . Contact the carrier or go online and you will find or request a death claim form . In it , there should be instructions on how to fill out and what additonal paperwork may be necessary . Usually a certified copy of the death certificate is needed for submittal . Your agent should be able to help you complete the steps you need to . | In California all licensed drivers residing in the household must be included on the car policy . That information is more readily available and your insurance company and agent probably know about your wife and her driving record . She can , however , be excluded . In that case the insurance company is not obligated to honor any claim when your wife is operating the car . Of course , that is a very scary proposition . |
How To Write A Life Insurance Claim Letter? | Writing a cover letter to insurance carriers informing them of the death of an insured should discuss the cause of death and the circumstances that surround it . Short and to the point communication is best . In the vast majority of cases , a family member , who may also be a beneficiary , compose cover letters to the insurance company . If the death occurred during the first two years , the insurance company will investigate the death with greater due diligence to confirm if suicide was that cause of death . If suicide was the cause of death the claim would be denied . | Suze Orman usually does not recommend Whole Life Insurance because she feels that Life Insurance is not needed in Retirement . In reality , most retirees have a need for at least a basic amount Life Insurance , if not more . And Term Insurance will eventually become unaffordable because of age . So most people at least have a small need for Whole Life Insurance , or some other type of Permanent Life Insurance . |
How To Be An Effective Life Insurance Agent? | The simple answer is to always keep your clients needs first . This does not mean just being an order taker . You are the expert so clients need to be aware of the options that are available to them . Example : if a client is looking for a term policy , show them a straight underwritten term , a term that offers Living Benefits , a term that provides a Return of Premium & perhaps a Non-Medical term where minimal underwriting is necessary . Ask the clients questions to find out why they are looking for a specific face amount . How did they come up with that number ? Ask how much they would like to leave on a monthly basis with a lump sum for final expenses . Generally these will lead to higher face amounts . Sometimes you need to determine what the money commitment is so you can design a strategy that can meet the minimal need and allow for future adjustments . An Effective Life Insurance Agent is always staying educated , keeping up with industry trends , product changes and how to design the best strategies for their clients . | There is a chance that we have misunderstood the question . If a home that you lived in previously was covered by a homeowners policy and you have moved out of that home and are currently planning to lease it to someone else then the homeowners policy should be cancelled and a fire policy written . The fire policy covers only the residence and has only limited coverage for contents . As was mentioned the personal property of the tenant should be covered by a renters policy . |
How To Be An Effective Life Insurance Agent? | The operative word here is effective . A life insurance agent is obligated to serve his/her client , never the insurance company . A life insurance agent must familiarize themselves with the broad range of product inventory to serve the needs of his/her client . A life insurance agent must have a handle on the tax items and associated tax strategies of life insurance to best serve his/her client . A life insurance agents original title was field underwriter and it that spirit he/she must have a working knowledge of the various health conditions that effect he/her client . These are just the beginning of becoming an effective life insurance agent . | A Homeowners ' Policy specifically is intended to cover homes that are the primary residence i = of the home owner and named insured . Therefore , if you leave your house , buy or rent elsewhere and then rent your home to another party , if there is a claim at your house , that claim could be denied because you do not live there . Your Homeowners coverage would have to be transferred to a `` Dwelling Fire '' form in order to maintain coverage . Some companies offer these with Liability coverage included , others do not . So be sure to check with your insurance professional . Coverage for any personal property which you may own that is still at that house will need to be picked up on the new Dwelling policy because unlike a Homeowners ' policy , the coverage is not automatic . |
How To Be An Effective Life Insurance Agent? | Effective . Hmmm . After 32 years in the business , I believe -LRB- I hope ! -RRB- I 'm effective in how I service and explain plans and create and manage the websites I own . But ... if there was one feature that I believe makes myself effective ... is simply listening . I need to know what my client needs and how he hopes to achieve that . By listening instead of talking , I 'm always able to provide the best possible product for their unique situation . Yes ... after 32 years in the business ... I still listen ! | The best retirement plan is one that someone else paid the cost . It is even better if it meets you needs . It is even better if it is inflation adjusted to meet with changing needs in the future . This question should probably be , What is second best ? Second best is a plan established by your employer to which the employer contributes money and you can contribute money on a tax deferred basis . That means that you dont pay income tax today on the money you put into the plan . |
What Does Medicare Cover On Nursing Homes? | If the hospital stay that preceded your admittance into the nursing home was at least a three day stay , was for the condition that requires skilled care , and a few other stipulations , you will be admitted to a Medicare bed in the nursing home . For 20 days , all nursing home expenses are paid by Medicare . After 20 days , there is a copay until the maximum length of 100 days , at which time Medicare no longer contributes to nursing home expenses . | Unfortunately , no . When you 're looking to have excess skin removed and it 's an elective procedure you want to have completed , Medicare is not going to cover it and you will need to pay for it out of pocket . If a doctor deemed it to be a medically necessary procedure , Medicare may provide some coverage for it . |
Is Life Insurance Necessary For A Single Person? | Life insurance coverage is based on your beneficiaries suffering economic loss or obligated to pay final expense items as a blood relative . If theyre no beneficiaries or financial obligations , then life insurance may not be for you . But most people have at least one of these two people groups to consider when weighing the need for life insurance . Desiring tax advantaged income for supplemental retirement funding may be an excellent reason for a single person to consider purchasing cash value life insurance . | No , a life insurance policy does not pay out triple if killed on a business trip . The stated death benefit is paid out regardless of how death occurs . There is a contestability clause in the policy stating that suicide is not covered for the first 2 years of the policy . |
Is Life Insurance Necessary For A Single Person? | Is life insurance necessary for a single person ? I will answer based on my reasons for having life insurance when I was a single person , it is up to the reader to decide if that is a good reason or not . As a single person , I still had a mom , and had I died , it would fall upon mom to clean up my stuff . In no particular order the reasons for owning life insurance at that point in time in my life . I just died , I 'm sure that 's a whammy to my mom . I just died without life insurance sorry for the `` double whammy '' mom . My service ? Mom , I 'm sure you can borrow the money to bury me . Or tap your retirement plan or home equity ... My debts ? Well I 'm sure you do n't mind the calls and letters or even that college loan you cosigned for me paying it back after I just died . Time off your work mom ? I 'm sure if I die on a Saturday , you 'll be back at work on Mondaylike nothing happened and certainly your bills are paid well enough in advance that you can take unpaid time off to grieve . My dog , mom . Here 's my dog . take care of him for me will ya ? If I have n't listed enough reasons for a single person to consider the need for life insurance , well I guess I did it for dumb reasons . It could be your mom , dad , brother , sister or a good friend , why buy life insurance as a single person ? Cause you care enough about the people who care enough about you . For me , it was my mom . Now it 's my wife and kids . They actually would hate to lose me , I actually would hate to put a burden on their shoulders when I die , tomorrow or 50 years from now . | That is a great question ! While it is true that at some point the majority of us will need some form of long term care , buying a policy might not be necessary . Many insurers have learned that these policies ate far more profits than they 'd planned , and so they either dropped the policy line altogether , or they scaled back benefits , and raised the prices . In many cases , to the point where they may not really be an affordable option for Elder Citizens . There are insurance policies and annuities that make promises to pay extra for a certain amount of time to cover your LTC needs , but they really need to be looked at carefully , as they often are n't as generous as they first appear . The best solution comes from -LRB- believe it or not -RRB- our Government , that enacted a law in 2006 that went into effect in 2010 that allows for any structured payments -LRB- annuities , 401k payments , etc. -RRB- that are used solely for LTC expenses to be tax free . So it may be that your best option is to fund some retirement accounts , or purchase an annuity or two , and earmark them specifically for that purpose . Depending upon your age , and the amount that you are able to fund , this may be a more affordable option over the long haul , and one that protects your retirement income . It may be beneficial for you to talk this over with a trusted adviser to weigh out which option is best for you . I hope that helps , thanks for asking ! |
How Does Life Insurance Work In The USA? | In the USA , life insurance is taken out on someone because their loss would cause a financial hardship for someone else . The insured person selects a beneficiary to whom the policy payments would go upon his or her death . Some policies also have a savings feature so that they build up cash value which can be used while the insured person is still alive . | Term Life Insurance does not have cash value or the ability to take policy loans , like Permanent -LRB- Indexed/Universal or Whole -RRB- Life . However , there are several major carriers that offer Living Benefit -LRB- Term or Permanent -RRB- policies that will accelerate up to 100 % of the death benefit , depending upon severity of illness , in case of Critical Illness -LRB- Cancer , Heart Attack , Stroke , Major Organ Transplant , Paralysis , etc. -RRB- ; Chronic Illness ; Terminal Illness ; or Death . Accelerated funds can be used for any purpose , such as : medical bills , mortgage payments , household expenses , lost income , long term care , etc. . And , the premiums are comparable to any other policy that only pay a death benefit . I have had multiple clients receive $ 50K - $ 250K after developing a serious illness . It is normally the only Life Insurance I recommend to clients . |
How Does Life Insurance Work In The USA? | Life insurance in America is a partnership between the government and the insurance companies , in that tax favored treatment of death benefit proceeds and policy loans of accumulated cash values can potentially be tax free if the policy is kept in force for the life of the insured . These provisions were granted as recognition of the value and impact that life insurance brings to the American Society . | The best Medicare Part D plan for you is the plan that results in the lowest amount of expense to you based on the prescriptions you take . If you do n't currently take any prescription drugs , then it is the plan with the lowest premium . To determine which plan you should have , go to CMS.gov and enter your prescriptions . It will display all of the Part D plans available in your state and the estimated annual cost to you based on your prescriptions . Justchoosethe least costly plan . |
How Does Life Insurance Work In The USA? | Life Insurance companies are formed under state laws . Each law regulates the activities of the insurance companies that are admitted to that state . The company offers to provide a guaranteed amount to a customer whose death falls within a certain period of time . This period of time can be a lifetime . Companies market their product in various ways ; however , the product is sufficiently complex that most people seek the advice and assistance of a state licensed insurance agent . | Most policies cover other structures including a shed , garage or barn for the same perils as the home . The amount of coverage is usually around 10 % of the dwelling , so a home insured for $ 100,000 would have coverage on the shed of about $ 10,000 . Evey company has minor differences so make sure you check you policy or ask your agent to review the particulars of your policy . |
What Percentage Of People Have Long Term Care Insurance? | I have read statistics saying that under 3 % of Americans have Long Term Care Insurance , all the way to as many as 10 % have it . The 3 % statistic is cited more often and from newer sources . With long term care premiums having gone up recently , and with fewer companies offering it , the % of Americans having coverage could have dropped . I will edit this when I can find updated information . | Critical Illness Insurance is offered in the UK , South Africa , Canada , Australia and Southeast Asia . The type of products offered in these countries has some differences from that offered in the US . `` Benefit in kind '' is a term used to apply to critical illness insurance in countries other than the US . From what I can tell , this type of policy is usually considered a benefit in kind , but you would need to check with a tax consultant to be sure . |
Is Medigap Better Than Advantage? | Each type has it 's pros and cons . Medigap plans -LRB- commonly known as Medicare supplement plans -RRB- work with Original Medicare -LRB- Parts A & B -RRB- to fill the `` gaps '' that it does n't cover . Original Medicare covers about 80 % of your healthcare expenses . A Medigap plan can cover a portion or all of the other 20 % , depending on which one you get . That 's a BIG pro . You also are n't restricted to networks , you do n't need referrals to see specialists , any doctor that accepts Medicare will accept the Medigap plan , you can apply for a different plan at any point throughout the year -LRB- if you want a different carrier or different benefits -RRB- , and they are guaranteed renewable ! The only con is that it typically costs more than an Advantage plan . Advantage plans can be a lot cheaper , but have more restrictions and limitations than a Medigap plan does . The big attraction with them is the cost factor as the premiums are very cheap and some plans even feature a $ 0 premium - they can also include drug coverage -LRB- you have to buy a stand-alone part D prescription drug plan if you want prescription coverage when you have a Medigap plan -RRB- . Some of the drawbacks are that you can have network restrictions , the plan coverage can change each year , your doctor can choose to no longer accept that specific plan , you 're locked in to that plan for a year and can only change it during the annual enrollment period -LRB- Oct 15-Dec 7 of each year -RRB- or if you qualify for a special enrollment period . Please note , regardless of which type of coverage , you must have both Part A & Part B and continue paying your Part B premiums -LRB- even though Advantage plans work in place of Original Medicare - Medigap plans work with Original Medicare -RRB- . | You can go to Medicare.gov and literally look up procedures , treatments etc. in an alphabetical list . This more fully explains coverage and processes . Most doctors and their offices are aware of what is covered , what coding to use , etc. ... Before you have any treatment or lab work or procedure - always verify it is covered by Medicare or you could be left holding the bag . Hope this helps ! Belinda myseniorventure.com/answers |
Is Medigap Better Than Advantage? | Some people think Medigap is better than Advantage plans , but you decide . Medicare + Medigap allows you to use any doctor , anywhere in the United States . Most Advantage plans require you to use their doctors , or else pay a penalty . Medicare + Medigap with most plans -LRB- F , G , N -RRB- means less than $ 500 out of pocket during the year in most situations . Even with Hi F your out of pocket is capped at $ 2110 for 2013 . Advantage means $ 2700 - $ 6700 out of pocket per year . | Normally , your insurance company will settle your claim -LRB- for example : replacement cost minus deductible . -RRB- If you express interest they will usually offer to sell the car back to you -LRB- the settlement resulted in the car belonging to the insurance company . -RRB- The price is set by the company and usually the car must be registered as `` salvage . '' |
Is Medigap Better Than Advantage? | Medigap and Med Advantage plans are SIGNIFICANTLY different . For a MedAdvantage Plan , they are basically like an HMO . You have a primary physician who is essentially the gate keeper . You do need referrals and you do have co-pays . A Med Advantage plan does also contain a drug plan component , which the supplements do not . If you have significant health issues , than of course the co-pays can add up , however the monthly premium is usually significantly less than the average Medigap plan . Medigap Plans again , are significantly different . The coverage provided by a Medigap Plan is dependent upon what plan you get . The plans are all identified by a corresponding letter . For example , an F Plan tends to offer the most solid coverage , but of course the price is among the highest as you 'd expect . Each lettered plan is written and designed by the government , so no F Plan is different than another , no G is different than another G , etc etc. . What is different is what each individual insurance company charges for the play . So it 's not uncommon for company A to charge 1 price for an F Plan , and companies B , C , D , & E all have significantly different prices for the exact SAME COVERAGE . One thing that I would do is make sure you understand how each lettered plan works , because the difference in coverage can be quite significant . For example , make sure you understand exactly what a `` Part B Excess Charge '' is . In some states , such as PA , they are illegal , but in my state , which is NJ they are perfectly legal . If you purchase a plan that does n't cover the Part B Excess Charge , you could find yourself pleasantly surprised by a significant bill if you ever have a major procedure done . Medigap Plans DO NOT come with a drug plan , or vision plan or dental . A Drug Plan is the only one you are REQUIRED to get , or you could face a penalty by the government . But again , the drug plan must be purchased on the side , as there is no such thing as a Medigap that comes with a drug plan . | Rental units are unique . The unit itself could be standard but the contents and activities of the occupants vary a great deal . One company offers a rental insurance policy at a ridiculous price . All that really tells you is that they will write a policy with an extremely low limit of coverage . Find an agent , get a price and get covered . |
How To Find Good Renters Insurance? | The key to finding a good renters policy is to find a good insurance agent . If you dont have a trusted agent , get referrals from friends colleagues or neighbors . A good agent will listen to you , offer sound financial advice and communicate clearly with you and the insurance company . Selecting the limits of the policy is critical . This is where the agent will earn his commission . If you have a loss and the coverage is inadequate , nothing else matters . | Using an independent agent can help ensure that you get the best life insurance policy possible for your budget . People often begin the life insurance buying process by getting quotes for low cost life insurance from a few different websites . This is a good way to do basic research and get an idea of what your life insurance policy might cost . But when it comes to making a decision to apply for life insurance , we find most people really want to talk with a professional who can answer their questions and help to make sure that they are choosing the best life insurance policy for their needs . |
Why Do Life Insurance Companies Do Urine Tests? | Life insurance companies do urine tests to check for diabetes , kidney function , nicotine , and drug use . If protein is present in the urine , it can indicate that diabetes is present or poorly controlled , that kidney disease is present , or that some other health condition is causing protein to spill into the urine . | You do not have to be a citizen to obtain life insurance . US life insurers require that the proposed insured must be a permanent resident of the US . That means a US citizen or a non US citizen who is a lawful permanent US resident -LRB- green card -RRB- or on certain visa types . The applicant would also need to have the means to pay premiums and have a demonstrable life insurance need i.e. generating earned income or assets to protect here . Some insurers have developed foreign national programs that can also work in situations where established US interests and ties exist plus meeting some additional criteria . Citizens of some countries may not be eligible . It can be a complex area of field underwriting - so much so that our firm has developed a special questionnaire to help shop for coverage . Be sure to work with a life insurance professional with experience in this area . |
Why Do Life Insurance Companies Do Urine Tests? | Urine , saliva or blood tests are performed to check for things like HIV , drug use , tobacco , or any other abnormalities that could affect a persons insurability and allow the insurance company to properly rate the risk . Since life insurance rates are based on mortality , anything that affects the persons probable life expectancy needs to be considered . | 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 . |
Why Do Life Insurance Companies Do Urine Tests? | Life insurance is a mortality product priced on your estimated life expectancy . Life insurance companies underwrite mortality based on medical information . One of piece of information they rely on is the results of a urine analysis . | Great question ! Renters insurance is worth it the minute you have to file a claim . In the event that your apartment is damaged by fire , or some natural disaster , the claim helps pay for the cost of the things that you had . It will also cover the things that are stolen from your apartment . When you are standing there wondering where you will come up with the money to replace everything that you once had , and where you are going to stay , then you will appreciate the value of the insurance . If you have more questions , please feel free to contact me , I 'm happy to help . Thanks for asking ! |
How Does Car Color Affect Insurance? | Honestly these days , it really does n't affect car insurance rates at all . There was a time many years ago when it was believed that a red car was a greater risk to insure than say a blue one . Insurance companies today use much more sophisticated data and formulas in order to determine rate-for-risk . | Air Conditioning Units are covered under Homeowners Insurance policies for the perils afforded against by the policy ; i.e. Fire , Wind , Hail , Vandalism etc. . . If the question is regarding repairs and maintenance , the unit would be covered either by a Manufacturer 's Service Contract or a Home Warranty Policy and not your Home Insurance Policy . Homeowners Insurance is designed to protect the home against covered perils to assist the homeowner from financial loss ; it is not designed as a repairs and warranty policy for appliances and general upkeep . Home Warranty policies are available for appliances and repairs of systems in homes ; the homeowner would have to pay a premium for the warranty policy and each service visit would be covered after a deductible which would be agreed upon on the policy . |
How Does Car Color Affect Insurance? | Nowadays , car color does not have an affect on the cost of auto insurance . The things that will affect the amount you will spend are age of driver , residence location , driving history , insurance history , type of car , age of car , and cost of car . This is a very generalized list I gave you , and there are many other factors that go into the cost , but these are the most basic ones . I hope this helps you to better understand how the cost of auto insurance is formulated . Thanks for asking ! | Tough question to answer , because just like Larry & David mentioned above , it depends on a variety of factors , like how much you want , how long you want it in place for , your health , etc. . What I 've noticed in my practice is that the desire to have life insurance is strong for baby boomers entering retirement around age 65 , and we are able to creatively find ways to obtain coverage that meets their goals at a reasonable price . But since everyone 's situation is different , it is always wise to speak with a trusted professional in your area to determine if you can find something that works for you ! |
Is A Life Insurance Policy Considered An Asset? | If you are applying for Medicaid , life insurance is not considered an asset unless it has cash value , and then only the cash value is considered as the asset . In a financial portfolio , likewise , the cash value of a permanent policy is the asset . On the other hand , the life insurance death benefit left to heirs may be considered part of the estate . | That is a great question ! My advice would be to contact the company and ask where they sent the cash value for the policy , and / or if it could be reinstated . If it was indeed a whole life policy , and not a term policy , there should be a sizable amount of cash that is due to your father -LRB- assuming he 'd not borrowed from it -RRB- and they would be obligated to return it to him . If it was a term policy , there would have been no cash value , and the policy would have ended . If they will reinstate it for you , there will be a bit of paperwork , and back-owed premiums that will have to be paid , and please understand that for whatever reason , insurance companies are much more brutal about reinstating than they are just issuing a new policy . It may not hurt to have an attorney ... Good luck , and thanks for asking ! |
Is A Life Insurance Policy Considered An Asset? | This is a question best answered by a CPA if you 're asking in regards to tax purposes . Generally speaking , it 's not a liquid asset . Life insurance is a contract that says that if the insured dies during the life of the policy , the insurer will pay the beneficiary the stated death benefit of the policy . If you have cash value that has built inside the policy , you can borrow against it . Please note , borrowing from your cash value is a loan and is expected to be paid back . You can also elect to cash out the policy by terminating it and taking the cash value -LRB- less any surrender charges , loans , or interest left on the policy -RRB- . Before you terminate coverage to take the cash value , you may want to consult with your agent to make sure it 's the best move for you . There may be other things to consider that you 're not aware of/thinking about -LRB- e.g. protecting your insurability , what can happen if you needed/wanted coverage again , etc. -RRB- . I hope the information is helpful - please feel free to contact me for help and if you have any questions . Thanks very much . | Yes , there are many good companies offering guarranteed or express issue final expense policies for individuals at this age . For those that have some medical issues can get modified or graded - benefit policies that postpone the full payout until the policy holder 's third year of ownership of the policy . The traditional polices are offered to the healthy at a reduced premium . |
Is A Life Insurance Policy Considered An Asset? | That is an excellent question ! In most financial circles , life insurance would not be counted as a tangible asset . Term life especially has no value unless you pass ; Whole life has no big payout until then either . The cash value in the policy is where the confusion starts . Most States have a limit for the amount of cash that you can have when applying for medical assistance , and if you have a sizable amount scattered between one or more policies , this might be considered an asset by the State . You would need to talk to a Medicaid expert in your area to determine how much , if any the Government will count . Speaking more loosely , yes it is an asset , because it protects your loved ones from hardship when you pass . That is a big plus in my book ! Thanks for asking ! | Homeowners insurance will cover water damage from a roof leak if the roof sustained damage from a recent storm and the damage to the roof resulted in damage inside the home . If the roof has issues that have gone unrepaired , water damage in this circumstance would not be covered . The roof damage and the water damage must have occured at the same time . Keith Prim - Dallas , TX 214-435-0791 |
Is A Life Insurance Policy Considered An Asset? | Often times life insurance is considered an assets . Term insurance is not generally referred to as an asset as it covers a temporary need for death benefit protection . Permanent life insurance like whole life insurance or universal life insurance is generally considered an asset as it has a cash value that you have access to any time you want . | A roth retirement plan is a plan that receives non-income deducted contributions . These non-income deducted contribution grow tax free and can be withdrawn from the plan without an income tax implication as long as the plan has been in force , or an individual has been a member of the plan for at least five years . Additionally , roth retirement plans use a first-in first-out -LRB- FIFO -RRB- distribution . This means that one can withdraw their basis from the plan before they must withdraw any gain . |
When Will Medicare Run Out Of Funds? | Like everything else , it depends on who you believe . Some projections say Medicare will run out of money in 2024 while others say it will happen as soon as 2016 . Here are facts . Every year since 2008 Medicare has spent more money than they have in the `` trust fund '' . They ca n't keep this up forever . | The company looks at the cost of repair and compares it to the wholesale value of the car to determine whether or not to total the car in the event of an accident . Each company may have adifferentevaluation in this regard but as a general rule of thumb , that is what they will look at . |
Is Life Insurance Loan Taxable? | Life insurance policy loans have the potential to not be taxable . Unlike withdrawals , policy loans are not distributions . With loans you are borrowing part of the cash value in your own policy . You do n't pay tax currently on the loan amounts you take . The loan balance grows and , should death occur before the loan is repaid , it is repaid from policy proceeds making the loan non taxable . However , if the policy were to lapse while a loan balance exists , income tax would be payable to the extent of gain in the contract in the year of lapse . | There is no one company that has the best renter 's insurance for all persons . In certain states , State Farm or Farmers may have the best rates . In other states , Nationwide or Liberty Mutual may offer the best options . And perhaps Geico in specific situations . Am I evading the question ? Yes . So ... here 's what you should do . Contact an experienced broker and within a few minutes , you 'll be presented with the most affordable renter 's insurance options in your area . |
How Does Disability Insurance Work For Maternity Leave? | This is a very common question and the answer is that it depends on the carrier and its definition of total disability . Normal pregnancy is not considered a disability by some carriers . In fact , it is clearly excluded from coverage in the contract . For others , as long as it falls into their definition of what constitutes a total disability , they will replace income after the elimination period is satisfied . The definition of disability is key . A typical definitionmight be something like `` the inability to perform the usual and customary duties of the occupation -LRB- job -RRB- in which the insured is working at the beginning of a disabling event ... '' A less favorable definition would add the words , `` and is unable to work in any other occupation . '' Since many women are able to performthe primary duties of their occupation during the first two trimesters of a normal pregnancy , some carriers do not automatically consider a leave for pregnancy a trigger point to replace income . And , if they do , 90 days is a typical elimination period - a kind of `` time deductible '' before one qualifies for benefits - most women would probably not satisfy the elimination period before the baby was born anyway . If there were complications resulting from pregnancy , then that 's a whole different situation , and if they started to occur early enough in the pregnancy and did qualify under the definition of disability , the elimination period would theoretically start sooner and benefits might be paid out before birth . If you are beginning a new job and think you might become pregnant or intend to become pregnant during the time you are employed with that company , be sure to ask Human Resources if the company provides disability insurance as a group benefit and if the coverage includes normal pregnancy . | Skilled Nursing Care is covered under Medicare Part A and can only follow at least a three day stay in a hospital . Skilled Nursing Care is rehab , the goal at a Skilled Nursing Facility is to get you better so you can come home . Medicare covers Skilled Nursing Care at 100 % for the first 20 days . If your doctor thinks you should stay longer than 20 days Medicare starts charging a co-pay of $ 157.50 per day for days 21-100 . Skilled Nursing Care should not be confused with Long Term Care because Medicare will only allow you to stay up to 100 days in a Skilled Nursing Facility . Be sure your Medicare Supplement policy covers the additional days -LRB- 21-100 -RRB- in a Skilled Nursing Facility . |
How Much Is Globe Life Insurance? | The price of Globe Life Insurance depends on the type of policy you purchase , your age , gender , and other factors . So it is impossible to state a dollar amount for Globe Life Insurance . While the company offers some good rates , their choices for coverage are not too extensive . So you may want to contact Globe to see what rate you can get , then compare it with other companies using the quote engines provided on many websites . | Selling Variable Annuities requires at least a Series 6 License . These individuals are referred to as Registered Representatives . They have gone through several hours of classroom and online studying with an in-depth test . When you are working with a Registered Representative , you can ask him for his license number or you may , depending on your state , look him up through the Department of Insurance . |
Who Owns Anthem Health Insurance? | Anthem health insurance is part of the Wellpoint group . They are one of the largest health insurers in the country and offer health plans in many parts of the country . I hope the information is helpful - please feel free to contact me for further assistance and if you have any other questions . Thanks very much . | I think Cathy gave you a good answer . If I could , I might just expand to say , that in the first half of the twentieth century there were two types of auto insurance policies one for liability issues and one for physical damage issues . In fact many insurance agents of that era started working as physical damage agents connected with an auto retail dealer . Over time the notion became that one could buy Liability and Physical damage coverage which was then considered to be `` full coverage ' '' or cover more fully your exposures rather than buying only a liability policy . Those days are long gone and now most insurers cover a multitude of coverage types . My advice to anyone looking to properly insure your exposure to loss is to consider buying all the coverages you can . In the process of considering coverage ask an agent to explain how that particular coverage works . Education of the public is just one thing a good agent does whether they sell a policy or not . |
Why Is Car Insurance More Expensive For Women? | Car insurance is not more expensive for women . But perhaps it should be because I was the best driver growing up among myself and two sisters . But typically , males -LRB- especially under age 25 -RRB- cost much more than females -LRB- all other factors being equal -RRB- . If you have three or four young boys in your household , all not quite driving age ... you better contact an experienced broker to help plan for those rate changes ! | It depends on how they get broke . If the get broke by an act of vandalism , windstorm and hail , or other covered peril then yes . If your kids are playing in the yard and throw a ball through the window then no . Also keep in mind your deductible . Generally the cost of a window is less or very close to most peoples deductibles . If you turn in a lot of small claims it can have just a detrimental effect on your rates and insurability if not more so as a large claim . |
Does Short Term Disability Insurance Work? | Short-term Disability does work if you have a qualifying disability . When you are applying for short or long-term disability , you need to look at the definition of disability and occupation . Not all companies have the same definition . If the definition is vague , you may find yourself being denied on your claim or receiving a `` lesser '' amount then what you have applied for . | Life Insurance was first created back in the early 18th century , 1706 to be exact out of London . Amicable Society for a Perpetual Assurance Office was the company name created by a William Talbot and a Sir Thomas Allen . People would pay an annual rate for one to three shares which were divided up among the deceased bases on the number of shares owned . |
Does Short Term Disability Insurance Work? | Yes , short term disability insurance works . It will pay you a portion of your normal income while you are laid off for weeks or months due to illness , injury or childbirth -LRB- most short term disabilities do not last over a year , but some policies will pay up to two years , if they do -RRB- . | You might need it if required , but its still a good idea to get it even if not required . When would you be required to get condo insurance ? Sometimes the condo association/HOA requires you to get it when buying the condo . If you had the condo for a while , you will find that you might be required to get it now that you are refinancing your loan through a mortgage company since mortgage guidelines have changed -LRB- which I see a lot -RRB- . Its still a good idea to get it because it provides coverage for your personal items and for the internal items of your property that you improve -LRB- known as betterments . -RRB- It basically fills in the holes and supplements the policy the condo association has on the entire building . Talk to your agent because there are a lot of important reasons to have condo insurance , such as for loss assessment -LRB- commonly found with condos and townhomes -RRB- , losses caused by a neighbor that does NOT have insurance , or losses happening because of your own doing . The insurance only costs $ 100 - $ 400 per year depending on what you need . Protect your investment and get the coverage , even if it isnt required . |
My Neighbor And I Have The Same Auto Insurance Policy. Why Is He Paying So Much Less? | By same auto insurance , I assumed all the coverage are the same aside from being the same company ? Eg . liability limits , UM/UIM , PD , PIP . With everything being the same , the other factors can still be a variety of items . Your driving and claims history . Your marital status , credit score , education level , type of cars , rental or homeowner , occupation and on it goes . | Under most situations , drugs administered via IV are covered by Medicare Part A -LRB- if you are an inpatient in a hospital -RRB- or Part B -LRB- if administered in an outpatient clinic or in a doctors office -RRB- . If the drug is self administered in your home the cost of the drug might be covered under your Part D . |
Can A Trust Be The Beneficiary Of A Life Insurance Policy? | Great question ! The answer is yes , absolutely . I actually work with a company that specializes in a trust that is dedicated to providing for your final expenses . The primary beneficiary is listed as the funeral home , and any excess goes to the secondary beneficiary that you name . Many people also pass their money to trusts to hold for minor children , that otherwise would not be able to directly receive it . If you would like more information , please feel free to contact me , I 'm happy to help . Thanks for asking ! | Yes , life insurance covers death while a passenger on a plane . Life insurance covers death due to accident and death due to natural causes -LRB- illness or old age -RRB- . If the person flying is the pilot , and they got their policy while a pilot or studying to be a pilot , they need to have life insurance that covers pilots in order for the policy to pay . |
Can A Trust Be The Beneficiary Of A Life Insurance Policy? | Yes , a trust can be the beneficiary of a life insurance policy . There are even trusts designed for that , called life insurance trusts . If a trust is the beneficiary of a policy , it probably will not need to be included with the policy . If the trust is owner of a policy , the trustees need to sign the policy and a copy of the trust may need to be submitted with the application . | If you have auto insurance you will get at every renewal a declaration page showing your coverages and a card or paper showing that you have insurance It will have the name of the company and the term of the policy , either one year or six months . You should have this in your glove box or wallet at all times . |
How Much Will Medicare Increase By 2014? | We really have no idea how much Medicare will change in 2014 or beyond . Every year Congress determines the Medicare deductibles and premiums . In most years the deductibles and premiums both increase but some years they have actually been reduced due to political pressure . As I like to say , it must be an election year . There is no predicting what will happen , or how much things will change . | Rolling over a life insurance policy -LRB- also known as a 1035 exchange -RRB- refers to taking the cash value in one permanent policy and contributing it -LRB- rolling it over -RRB- to a new policy as part of the first year premium payment in a new policy . The purpose of this is to lower your monthly premium . I hope the information is helpful - please feel free to contact me if you have any questions . Thanks very much . |
Will Medicare Pay For A CT Scan? | Medicare will pay for a medically necessary CT scan . Your doctor must document why the scan is needed . Medicare does not publish their fee schedules but you can get an idea of how much Medicare will pay for a CT scan if you Google Medicare DRG rates or Medicare payment schedule . | Let me first say that I am not a Suzie Orman fan but her recommendation to buy term insurance instead of the traditional cash value insurance is correct advise . Term insurance offers an individual or family the ability to purchase much more coverage in the early years when debts are the highest and loss of an income would be devastating and as the years pass the need lessens . Another more trusted person that offers the same advice is Dave Ramsey and I urge people to listen to his show on the radio of pick up some of his books . He covers this subject as well as others that will help families to become financially secure . |
Can Life Insurance Drop You If You Get Cancer? | No . Life Insurance Carriers will not cancel your policy after developing Cancer or other serious medical conditions . They may cancel for non-payment of premiums or failure to disclose , if it was a preexisting condition . However , if you have a Term Life policy that expires after 10-30 years , it may not be possible to qualify for new coverage . | Yes , and they should . Renters insurance is very inexpensive and it protects your belongings and provides liability coverage in the event you cause damage due to negligence . The apartment complex is concerned with liability coverage because they want to get reimbursed for damages and most people do not have enough money to rebuild the building . |
Can Life Insurance Drop You If You Get Cancer? | No Life carriers will not cancel your policy if you have cancer there 's two things they will look for did you lie about your health when you purchased the policy and if the policy premiums are current and paid to date do n't forget these are legal binding contracts the insured will be held accountable and the insurer will be held accountable . See my profile if you should need help . | I assume you know that Medicare is only available to citizens that has reached 65 years of age or have End stage Renal Disease or have been declared to be disabledand have drawn social security benefits for two years . The provider of any covered `` medicare services '' can file a claim for those services and can expect Medicare to send them the check that covers the treatment you were provided . The check is not sent to you . |
Can Life Insurance Drop You If You Get Cancer? | That is a great question ! One of the best things about life insurance is that once the policy has been approved and issued , the only way that the contract can be broken is if you had misrepresented the facts about your health , decide to stop paying , or to cancel it . If there is reason for the insurer to believe that you had prior knowledge of your cancer when you applied for it , and said nothing about it , they can drop you . There is a two year window at the beginning of the policy that allows them that right . After that two year window , you are covered regardless of what turns your health may take . I pray that your cancer is easily beaten , and that you live a long and rewarding life . Thank you for asking ! | What is the best and cheapest life insurance to buy ? Well , the best would be the life insurance that is in force when you die . The fact that it is in force makes it the best , because it does n't matter what company if you 're policy is not in force when you die . As for the cheapest ? Cheapest for how long ? One day ? one year ? a lifetime ? The best price is really determined by the length of your need . One day ? term . One year ? term . A lifetime ? Whole life . Term is the cheapest for the shortest amount of time and whole life is the cheapest for the longest period of time . |
Can Life Insurance Drop You If You Get Cancer? | A life insurance policy is a contracted based upon representations . If medical information was provided truthfully the company hasnt any grounds to deny coverage . When you stop and think about it that is the way most death claims are handled . A person buys a policy and later dies of a disease . That is the basis of life insurance , we dont know when we will die . | Great question ! What you need to understand is that it is n't the vehicle being insured that matters , it is the driver . The car itselfwill not hurt or kill someone , it is the person driving the car that causes the car to hurt or kill . Please do not consider trying to shortcut not having insurance . the penalties will far outweigh whatever it would cost you to have it . Thanks for asking ! |
Does Life Insurance Work Kids? | It 's very smart to take out life insurance on your kids and grandkids . They are very inexpensive to insure . With a good whole-life policy you can pay it in full for them within 10 or 20-years and give it to them as a financial gift later in life . You can also guarantee that they have insurance so that if they get an uninsurable condition later , they are already covered . Good policies even give them guaranteed purchase options later in life . When you buy your children 's life insurance do n't just think about funeral and burial costs but also the time you will want to take off of work in the event of the death of a child . | I hear this question fairly often , but the answer can be quite different depending on an individuals need . The ` best ' advantage plan is usually a very personal decision and can vary greatly depending on what type of medications you are taking , what plans your doctors accept and what plan is going to meet your current needs the best . While the prices for Medicare Advantage plans might seem very similar , the way that the plans are constructed can be quite different . I recommend meeting with a Medicare insurance specialist who can help you decide . |
Does Life Insurance Work Kids? | Yes , life insurance works for kids . Some policies do have a minimum age limit of 18 to 20 years old , but many will work for children as young as 15 days old . You can also add children to their parent 's policy as a `` child rider '' . Although they do n't have to take an exam , a child will need to have relatively good health to get life insurance . | The cost of nursing home insurance can range from $ 30/month to over $ 400/month . The age at which you apply , your health and tobacco status , the elimination period and length of coverage chosen , the dollar benefit , and the features and riders all enter into the cost of the policy . Contact a long term care insurance broker to find what nursing home insurance would cost for you . |
My husband borrowed a car of ours titled in my name to friends of ours who are going through bankruptcy, what happens if they are in an accident? | f they are in an accident you are liable for the damage if your friend wrecks and hit someone . You need to list them as drivers on your policy along with the car . Depending on how long this `` borrowing '' lasts . Montana is a permissive use policy state so if you borrowed a car to someone then they got into an accident your insurance has to cover it unless you do not have the car on the insurance policy but you also are required to have your cars insured . Now if your friends are only borrowing for a week or two then there is n't a needed to add then to your policy Hope this helps | What to watch out for when purchasing long term care insurance ? Will `` everything '' work as an answer ? What I have found in my sales of long term care insurance is that it is a long process where we review the multiple options a good Long Term Care policy presents . There are so many buttons and nobs on a policy that you should n't overlook any as you figure out your plan . LTC is really one of the most `` customizable '' insurance policies I have ever run across . So what to watch for ? make sure to tweak every `` button and nob '' a policy offers before you settle on your plan . See what each twist and change does to your plan and price . |
How Much Does Someone Who Sells Life Insurance Make? | People who sell life insurance can make hundreds of dollars of income in a year , all the way up to hundreds of thousands of dollars in a year . Most insurance agents work on commission , and for those who do , no two years of commission and income are the same . | Claim history is a big factor for insurance companies but just because you have a claim does n't mean your rate is going to increase . Several factors are used to determine a rate including the length of time you have been with an insurance company , credit , type of claim filed , amount of claim , castropheclaimsect . Homeowners insurance is designed to cover `` sudden and accidental '' losses . It is not a maintenance policy and you do not want to file small claims . Filing frequent , small claims will cause your rateto increase or your policy may be cancelled . |
What is the modified endowment contract amount for 2014 tax year? | What is the amount for a modified endowment contract for the 2014 tax year ? Unfortunately , you are mixing your investment or plan up . There is no annual guideline for a Modified Endowment Contract . You are thinking of qualified money contributions and confusing the two . Determination of a modified contract is something that can occur at any time if the extra monies applied to a policy trigger a formula known as the 7 pay test . When extra money is suggested to be added to a policy , the insurance company performs the 7 pay test on those funds and determines if the addition of those funds will trigger a MEC , before the funds are applied . More often than not , a deposit of extra funds triggers a MEC at some future date . If that 's the case , the policy does not become aMEC until that date . So money could sit and grow for several years , even decades without becoming a MEC . As the policy draws closer to the MEC date , simply taking money out of the policy can eliminate the MEC . There are several other ways to eliminate the MEC classification as well . | Costs vary depending on the type of policy applied for as well as which riders are chosen . Obviously , the amount of coverage also plays a role in the premium . In some cases , parents may be able to insure their children with a child rider attached to the parent 's policy for a very low cost -LRB- a couple of dollars a month -RRB- , but as with anything , there are trade-offs . |
What is the modified endowment contract amount for 2014 tax year? | You are talking about Life Insurance which is not set to a specific amount but rather variables including your age at issue , the face amount , how you are going to be classified ie . preferred or standard rating . Generally speaking , lump sums of money will create a MEC unless it falls under the 1035 exchange guidelines . I have clients however who have put a lump sum of over $ 10k and not create a MEC . Can you provide more specifics or call me or your broker to look at the insurance you have or looking to apply for ? | Video Transcript : How much is $ 1 million life insurance policy ? Are we using term life insurance or are we using permanent life insurance ? That 's going to dictate how long the coverage is going to need . Am I a male or a female ? Am I a smoker or a nonsmoker ? What 's my medical history like ? What is the para-med exam result that I have to take for the application ? I need to incorporate all those issues into what the price tag 's going to be for $ 1 million coverage , as well as , think about this ; you 're going to have to also add on , do you have a hazardous vocation ? That could be another additional price tag on top of your premium . If you have recreational issues , like I like to scuba dive or mountain climb , those also are incorporated into your price tag . If you 're looking for $ 1 million of coverage and you can answer all of those questions , you can come up with whose got the most competitive price tag throughout the life insurance carrier market . |
Can You Claim Breast Implants On Medicare? | This is a great question . Medicare normally does not cover operations for cosmetic reasons , however there are medical reasons in which a person may need implants . This is a very sensitive case by case situation . The best way to find out is to call Medicare directly or call your Part c provider or your broker and ask . | Both the renters and the homeowners policies are comprehensive packages of coverages that meet the most common needs of tenants and homeowners . Both policies cover your personal property and additional living expenses . Only the homeowners policy covers the residence and other structures on the property . Both cover liability and medical payments when someone is injured on the property . |
What Are Important Provisions In Most Life Insurance Policies? | I think the convertibility option in term insurance policies is a game changer . In essence , it allows you to convert your term policy into a permanent product without going through underwriting . Think about that for a second . Let 's say you bought a term policy when you were a young parent to protect your family . You thought you would have no need for coverage once your youngest child was out of the house , so you went with term . Lo and behold , you had more kids than expected . Or maybe you took out a second mortgage and were in debt longer than you planned . Or maybe you opened a business and need to indemnify a business loan . For any a number reasons , you need life insurance past the original time of purchase . But now , unfortunately , you are not insurable . You have a very serious illness . You are stuck . You have dependents , you have debt , but you have no way to cover them . Wait a minute ! You can convert the term policy into a permanent product without answering any medical questions , taking a medical exam , or having your medical records reviewed . Whew ! That rider is a godsend . Of course , there are a few stipulations . You can convert up to a certain age . You have to pay the premium for a permanent product at the age you convert . And , you will be approved at the rate class at which the term insurance term policy was issued . But with these factors all favorable , that convertibility option can come in very handy . I have seen it . | There are 3 basic areas to compare . Premium , coverage and financial strength of the insurance company . Premium Can be compared by obtaining quotes from several companies . Give each company the same limits of coverage to quote for you for comparison . Second is Coverage limits . Use your current policy coverage limits to request quotes and make sure that the policy forms used are similar . The most common form used is HO-3 . 3rd is the financial stability of the carrier insuring your home . You can research the carrier 's financials condition through a couple of independent rating companies . AMBest and Fitch are recognized by the industry as leaders in this field . There is a 4th part to your comparison , an agent to help you research and for service after you purchase a policyThee here are captive agents and independent agents . The captive agent only represent one company , the independent agent represents several carrier 's . A spreadsheet is a good medium to organize your information and help you evaluate all the information you 'll receive . |
What Are Important Provisions In Most Life Insurance Policies? | Some important provisions in most life insurance policies are as follows . These are regulated by state code and the insurance company , so can vary . 1 -RRB- Grace period . This is a period that your policy will stay in effect if you neglect to pay your premium on time , usually one month for term insurance . With permanent insurance , the policy may stay in effect longer if cash values automatically go to pay the premium . 2 -RRB- Suicide clause . This is a clause stating that the insurance policy will not pay out the death benefit for two years after the policy goes into effect . 3 -RRB- Convertibility . Some Term policies can be converted to permanent life insurance without evidence of insurability , if the conversion is done within a certain time period before the term ends . 4 -RRB- Incontestability clause . This protects the consumer by requiring that payment of the death benefit can not be contested two years after the policy goes into effect . 5 -RRB- Guarantees . Premiums , death benefits , interest rates , and cash values can all have guarantees in some types of policies . It is important to check the guarantees when purchasing a policy . 6 -RRB- Settlement options . Upon death of the insured , this provision allows the death benefit to be paid in one lump sum , in monthly payments , or some other way . 7 -RRB- Loans , reduced paid up , etc . There are many number of provisions associated with permanent policies that do not apply to term insurance . 8 -RRB- Riders . Riders provide added features to policies that the policy owner desires . Usually , riders cost extra . | There are two types of life insurance assignments : collateral and endorsement . The circumstances will dictate which option to take . But fundamentally youre using the cash values -LRB- sometimes the death benefit -RRB- an asset pledge for a loan or a restriction to cash values while an employment agreement may be in force . |
What Are Important Provisions In Most Life Insurance Policies? | The most important provisions in life insurance are convertibility clauses in term life insurance and policy loan provisions in cash value permanent life insurance . Other provisions that are universal to both are the grace periods for payments and the free look at the beginning of the policy . Lastly , the financial credibility of the company issuing the contract . The contract provisions are only as good as the company behind the policy . | Medicare Safety Nets provide additional relief to Medicare recipients in Australia who incur higher than usual medical costs . Under the Original Safety Net , a rebate is provided when a threshold is reached for out-of-pocket medical services . Under the Extended Safety Net , Concession cardholders and families eligible for Family Tax Benefit -LRB- Part A -RRB- can receive 80 % of out-of-pocket costs or the EMSN benefit for out-of-hospital services -LRB- whichever is lower -RRB- when a threshold is met . To obtain the thresholds and see if you are eligible , call Medicare General Enquiries 132 022 any time of the day or night , 24 hours per day . |
What Is The Free Look Period On Annuities In Connecticut? | I called the Connecticut Department of Insurance to make sure I got this correct . The free look period on the purchase of new annuities in Connecticut is 10 days . That is whether or not it is a replacement . Some companies give the annuity applicant longer than that , but 10 days is what is stipulated by the Connecticut Dept of Insurance . | Assuming you mean own occupation or own occ disability insurance , the policy addresses specific and recognized occupational specialties in medical or legal fields such as a physician who also is a surgeon . While a disability may occur eliminating the doctors ability to perform surgery , he may be fit to continue in a general practice , but receive disability benefits . |
What Car Insurance Coverage Do I Really Need? | I am going to answer your question by giving you a true life story that I experienced with one of my elderly clients that hopefully helps you to see the `` complexity of life '' issues we all have to face . I have an elderly lady that has been a client for years , We have grown old together . She has saved money and has continued to work every day in spite of my objections . Her brother was in a nursing home and she went to see her brother without fail at least twice a week . The path she had to travel included one of these `` turn lanes '' that clears the traffic to turn left while the other lanes supposedly had the red light . One day she was making that left turn and a motorcycle hits her right hand side whell panel as she is turning . The motorcycle flies over her car and the driver is killed . The investigating officer ticketed my client for `` failing toyield right of way '' . Please remember my client has money . What if that `` family '' of that deceiased motorcycle driver sues my client for `` wrongful death '' ? I knw we all look for ways to save money but how often are `` penny wise and pound foolish ? '' . | If you are referring to a room mate situation , then it would be wise for each person to have renter 's insurance . If a husband & wife , then it is not needed on each person . Insurance is based on an insurable interest . For example if I had a room mate , my room mate has no insurable interest in my stuff or my liability . There is one other option , the renter 's policy could be endorsed to insure the room mate as an additional insured . The room mate 's contents would not be covered , but at least the room mate would have liability coverage . -LRB- see some of my other answers regarding renter 's insurance -RRB- . |
Can You Switch Life Insurance Companies? | Yes , you can switch life insurance companies through a process called `` replacement . '' When you replace a life insurance policy , the old policy with the old company is cancelled and a new one is created . Usually if there is any cash value in the old policy , it will be refunded to you in the form of a check . But be careful : You may be required to go through another `` contestable period . '' That means the insurance company has a certain amount of time to cancel your policy if certain information is incorrect or misrepresented -LRB- usually a 2 year time frame -RRB- Any cash value may be greatly reduced or eliminated due to cancellation/termination fees | It all starts with a conversation with a life insurance professional who can explain the process , educate you on what 's possible , engage in fact finding to perform a needs analysis to customize a plan for you and your family . Normally , a formal application for life insurance , which answers questions the insurer needs from you is a key step and consent is given with signatures by the owner and proposed insured . In it you indicate policy owner , insured -LRB- who may also be the owner -RRB- , beneficiary and other instructions . A paramedical exam will be scheduled where vitals , blood and urine and medical history will be collected from you . The life insurer uses all the information collected to underwrite the policy . An offer will be made through the life insurance professional which you may accept . A policy is delivered to you after payment is made -LRB- sometimes not on delivery but at time of application -RRB- . The policy will be in effect at that point . |
Can I Get Life Insurance If I Have Skin Cancer? | For life insurance that is underwritten , it depends on the kind of skin cancer and how long it is has been since all treatment has ended . Acticinic keratosis , basal cell and squamous cell carcinoma , if detected early , are easily cured and are the most likely types which can result in life insurance being issued , even at standard rates . Malignant melanoma , the rarest and most virulent form of skin cancer , is responsible for 75 % of all deaths from skin cancer . This is the type where , depending on the staging and treatment , are likely to be either rated or declined . Stage IV and recurrent cases are likely to be totally uninsurable . Meet with a life insurance professional that has experience working with underwriters on cases like this for the best possible outcome . | Medicaid qualified annuities , or `` Medicaid friendly annuities '' , are annuities that can sometimes be used by couples when one person in the couple enters a nursing home . One spouse is able to keep half their assets and the home he/she lives in , the other spouse must spend down the other half on nursing home care before becoming eligible for Medicaid . Rather than spend down those funds , the spouse entering the nursing home transfers the money to the other spouse , who puts it in an irrevocable , immediate annuity that is set to pay the at-home spouse an income up to the number of years left in his/her life expectancy . Consult a knowledgeable elder law attorney in your state to see if this is allowed in your state , and to know all the pro 's and con 's before endeavoring to take out a Medicaid qualified annuity . |
Can I Get Life Insurance If I Have Skin Cancer? | Most people can get life insurance after having skin cancer . If basal cell carcinoma , the rates usually are what they would be if the person never had skin cancer . If squamous cell carcinoma , it depends on the stage of the cancer , how it was treated , and for how long the person has been skin cancer free . A standard to low table rating is common . A diagnosis of melanoma will require that the cancer was a low stage , was successfully removed without recurring , and that a certain amount of time has passed since the last treatment , in order to get a medically underwritten policy . It may have a flat extra during the first few years of the policy . If that is not available , persons with past melanoma can usually get simplified issue coverage , and can definitely get a guaranteed issue policy if they qualify age-wise . | Just a quick note as I read another post and need to clarify an incorrect statement regarding elimination periods . YOU are NOT reimbursed for your choice of elimination period . If you choose a 60 day elimination period , your benefits start on the 61st day and payment is usually made on the 91st day and monthly there after . You are not compensated for your choice of elimination period . The elimination period is like choosing your deductible on your health , home or auto insurance . It is the time you are willing to self insure your situation . You are not compensated for your choice of elimination period . Your choice of elimination period effects your premiums . |
Is A Variable Annuity A Roth IRA? | A Roth IRA is a plan that meets the requirements of the Internal Revenue code for special tax treatment . A variable annuity is one of many funding vehicles that can be used in a Roth IRA . The variable annuity would give a great deal of control over investments . The Roth IRA will allow tax free income when you retire . | 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 . |
What Retirement Plan Is Best For Self Employed? | For the self-employed , selecting a retirement plan is a question of your total income and ease of administering the plan . If youre not making that much money a simple individual retirement account -LRB- IRA -RRB- or Roth IRA should suffice . But if youre making six figures or more you may want to look into a Simplified Employee Pension Individual Retirement Arrangement -LRB- SEP IRA -RRB- that can contribute up to 25 % of your income with a cap limit of $ 51,000 for 2013 . | I 'll add a bit to what Jeff has said because he made a very important point about Universal Life , that it 's a hybrid of whole life and term . Both whole life and Universal Life build cash value and have a separate portion that 's purely death benefit , but they differ greatly in how they operate internally . I 'll follow with explaining this difference . I 'm going to speak somewhat generally , so do n't kill me if a particular company 's product behaves a little differently . Whole Life - The internal cost of insurance is averaged over your life expectancy and stays the same year after year . Therefore , every year , the same amount of money goes toward the cost of insurance . The remainder goes to the cash account which grows by the insurance company adding money , or dividends , to the account . These dividends are set by the company based on the performance of it 's investments . It can change every year but most companies will guarantee a certain dividend . Premiums are level throughout the life of the policy and , if you pay your premium , your policy is guaranteed to be there for you . Universal Life - The internal cost of insurance increases every year based on your age just like term insurance does . The remainder goes into a cash account that the insurance company adds to as interest . This interest rate is also tied to the performance of their investments and will change from year to year . This means that , at the beginning of the policy , the internal cost of insurance is the lowest it will ever be and will increase every year . Premiums are flexible with a minimum amount due to cover expenses and the cost of insurance . Remainder goes into the cash account . There good and bad with both . With Whole life , your premiums will usually start out higher than with Universal , but they 'll never change and your policy is guaranteed to be there as long as you pay the premium . With Universal Life , the minimum premium will be much lower at inception but will increase every year as the cost insurance rises . This makes it extremely important to pay a target premium or more with universal life . That way , more money goes into the cash account to earn interest and offset cost of insurance increases as you get older . You can put more into the cash account and , therefore , it can grow more quickly , but there 's a flip side to that also . if you underfund it , the increasing cost of insurance can eat up all the cash value in later years and leave you with no cash and no death benefit . Be smart . Find an agent you can trust and go through the entire process so he/she can put together the right program for you and your family . |
Does Medicare Pay For HPV Screening? | Medicare covers your annual exams including most women 's gynocological exams and testing . As part of your pelvic exam and pap test , your doctor should screen for abnormalities including STD 's , abnormal cells and HPV . The HPV virus has been linked to certain types of cervical cancer . You should have regular HPV screening and it is normally covered by Medicare | Next time you read a story in a newspaper , or see one on the television news reports about a family who lost everything because thy had no insurance and had a fire in their apartment , think about what they lost . Think about how they are going to have to use their regular paycheck to find a new place fo live and replace all of the clothes , furnature and other personal belongings that they worked their lifetime to obtain . Then as yourself if Renters Insurance is a waste . |
What Is The Best Type Of Life Insurance? | Ultimately , the best type of life insurance is the policy that is in force at the cheapest premium with the highest face amount on the day you die . Since none of us know that date , we must shop the market for the best coverage at the best price for your unique situation . There are lots of types of life insurance products on the market . The most popular are the two permanent or cash vale types of policies called whole life and universal life . These policies are a bit more expensive because they accumulate cash that can be used in the future for a critical illnees , college funds or retirement . The advantage is the money can be used tax free . The other popular type of life insurance policy is a term life policy . Term insurance is more affordable as there is no cash value , so you are in effect renting your protection . The premiums are typically guaranteed level for the term or period of years in which you purchase it . These terms range from annually to 5-10-15-20-25-30-35 years . Term life is a great solution to young families starting out on a budget to covering a debt for a specific amount of time . There are a lot of options in the market . I suggest using an independent experienced life insurance broker to help you navigate this maze of options . | Life insurance premiums are based on age , so it is very inexpensive to purchase it for a baby . The health of the baby , duration of coverage , and carrier also affect premium so it would be difficult to quote all of the scenarios in the scope of this answer . To provide a very rough idea of cost ; the premium for $ 10,000 of coverage will be around $ 4.50 per month . The parent may want to use life insurance as a savings account for the baby in which the premium will depend on the factors above and also how much the parent wants to save . It is an excellent idea to start early with insurance as it guarantees the child 's insurability as they get older . Please discuss the many options available with a knowledgeable insurance professional . |
What Is The Best Type Of Life Insurance? | There are many opinions on the best type of life insurance and without trying to sound smart the best is the one in force when needed . I work with many people each year on life insurance and everyone has a different scenerio and you need to find someone you trust to consult with . There honestly in my opinion is not a one size fits all . There are many great products out there that can fit your needs and your budget . Ask questions , research and again find someone you trust . | Premium is the cost of the policy , what you paid the insurance company to insure your house , auto , life , businesses , etc. . How it works is the actuaries -LRB- number crunchers -RRB- at the insurance companies calculate how much premium is need to cover a risk . Due any number of reasons such as bad losses , increased expenses , investment losses , premiums rates can fluctuate from year to year . This is why you want an independent insurance agent to help you keep tabs and shop your best options on the market . |
What Is The Best Type Of Life Insurance? | The best type of life insurance is the one that fits your needs . If your current indebtedness , future obligations and charitable giving is a temporary economic exposure , you should consider term life insurance for 5 , 10 , 15 , 20 or 30 years . If those liabilities are permanent , the permanent life insurance like guaranteed universal life . | Some coverage characteristics of Disability Insurance that are beneficial to the insured are as follows : 1 -RRB- Guaranteed renewable or guaranteed non-cancellable ; 2 -RRB- Own occupation feature ; 3 -RRB- Coverage to age 65 ; 4 -RRB- Elimination period that fits with how long you could afford to live without your paycheck ; 5 -RRB- Residual disability feature ; 6 -RRB- Cost of Living increase ; 7 -RRB- Future benefit increases guaranteed ; and 8 -RRB- Choice of how what % of your income you want to replace . |
Who Has The Cheapest Homeowners Insurance In Michigan? | Do you buy running shoes for a marathon form Wal-Mart ???? Do you buy a 4 cylinder truck to pull a trailer that really demands a V8 ? My point is , `` WHO CARES who has the cheapest '' . Yes , there is a way to assess apples to apples when buying home insurance . Red vs. green apples . There are always some differences in policies . However , in my state , there is a vast difference in plans offered . You are buying something to guard your finances in the event of the loss of your home , valuables , or retirement -LRB- that 's called Liability Coverage folks -RRB- . BUY THE MOST you can reasonably afford . I did a quote once and for curiosity I raised our `` in house standard amount of liability '' form 300K to 500K -LRB- the next step up for that carrier -RRB- ... What did I see ???? A ONE DOLLAR difference ... Yes ... ONE dollar . $ 200,000 more in coverage for a buck . That does n't happen for everyone and every carrier . Yet it 's almost always less than $ 10 a month . WOW ... 200K more for $ 10 a month ... . You 'll pay the price if you buy on price . - gravy | Yes , as long as it is for an approved health problem and deemed medically necessary . This would be covered under Medicare Part B and will be paid at 80 % of the approved amount . Medicare pays for any Medically necessary testing , such as blood work , X Rays , Cat Scans , and a lot of other issues . Some preventative tests are covered at 100 % |
Who Has The Cheapest Homeowners Insurance In Michigan? | I agree with Drew with a few additions . Rates do vary and different people may get very different rates from the same company . In my experience , you 'll find that many companies are within 10-20 % of each other and it 's hard to choose based on the rate alone . My advice is to find the right agent first . If you choose based on who has the lowest rate , you 'll be changing a lot . When you find an agent that cares about covering you correctly instead of just selling the lowest rate , you 've found your agent . Spend more time finding the right agent and you 'll be happy . They may not always be the lowest , but they 'll save you big in the long run . We 're always bombarded with ads from insurance companies telling you they have the lowest rate . They 're selling you on the idea that insurance is a commodity , that everybody has the same thing , so look for the lowest price . Nothing could be further from the truth . Professional agents and advisors are out there and they care about their clients more than just the commission they earn . Find someone who loves their agent and go talk with them . I 've never had a client complain that their rates are too high after they 've had a claim and they were made whole again . I 've been out there at 2am when my client 's house just burned to the ground . I did n't do it because I earned a commission , I did it because these are my clients and I love what I do . So , make your life easier and find an agent who cares . | Medicare is a federal-government run program so the type of coverage available under Medicare Parts A & B -LRB- also known as Original Medicare -RRB- will be the same regardless of the state you live in . The calculation of premiums is the same everywhere as well - your income level can increase your Part B monthly premium though . Medicare supplements are also standardized , meaning the plan benefits are the same regardless of which company you purchase it from . The premiums for these programs can vary from company to company - where you live also has a significant impact on rate calculations . |
Who Has The Cheapest Homeowners Insurance In Michigan? | In Michigan , I do not think there is one single company that provides the most affordable homeowners insurance . The reason I say this is individual rates are based upon your insurance score , zip code , condition of home and other applicable discounts . Another factor is the insurance companies current financial state . If the company is profitable , then they will not be hiking up its rates . The moral of the story is you should shop around . I recommend talking to an independent insurance agent and getting quotes from a few regional carriers -LRB- e.g. Home-Owners , Frankenmuth , Citizens , Michigan Millers and etc. -RRB- . If their rates seem unreasonable , then check out some larger national carriers like Allstate , Nationwide or Farmers . I hope this helps . | I looked in a few formularies and epipen shows up in all . It 's generally Tier 3 which is generally $ 45 . When you go to buy a plan , be sure to check the plan 's formulary to be sure . And it does n't hurt to double check at each open enrollment to be sure that it 's still covered , and at the same tier level . |
What To Do When In A Car Accident With No Insurance? | Great question ! I 'm sorry that you have to ask . If you are the uninsured motorist , you may want to get a lawyer to help you with the impending trouble that you will certainly face . The other motorist will certainly want to have their car repaired , and at the minimum you will be obligated for that . If there were injuries , it will get bad really fast . If you were hit by the uninsured driver , your insurance company will pursue that payment for you . Either way , you will appreciate the value of having the insurance . If you need any further help , please feel free to contact me . Thanks for asking ! | A deferred compensation plan is an arrangement created between the employer and the employee to delay portions of their salary and/or bonus until a future date , generally retirement . The employer can deduct the deferred salary when it 's distributed at the arranged date . The employee then takes the deferred compensation as ordinary income and pays taxes at their effective tax bracket rate . So in effect , it is a type of retirement plan . |
Does Medicare Pay For Annual Pap Smears? | Medicare will pay for a pap smear every two years under Part B . If you are at high risk for cervical or vaginal cancer , or are of childbearing age and have had an abnormal pap smear in the last three years , Medicare will pay for an annual pap smear -LRB- every year -RRB- . | If you and your brother are buying a business together , or live together , or have some other financial connection where his death would cause you financial harm , then you can take out life insurance on your brother . You could also take out a small final expense policy on him if he would rely on you to take care of his affairs if he would die . If you are unsure whether there is sufficient financial consideration for you to buy a life insurance policy on your brother , you can call an insurance website or agency to find out . You do n't need to go through the whole application process , first . These things can be determined ahead of time . |
How To Get Obamacare Health Insurance? | You can visit WEBSITELINK to learn more about and/or apply for coverage throughthe Affordable Care Act -LRB- Obamacare -RRB- . However , due to issues with their website , you can not use the site from 1 a.m. to 5 a.m. EST while they work on the kinks . You can also apply by phone 24/7 at 1-800-318-2596 . | Rates in NC solely depend on the company and rating a client receives after going through a company 's underwriting process . Different companies have different rates based on what types of clients they want to have . Usually having a broker like tak discussing options with you will help find the right company with the right products to fit your needs . |
How To Get Obamacare Health Insurance? | Obama Care is working well in California . Go to www.coveredca.com to get started on a quote . The new law has made insurance much less expensive if you have a preexisting condition -LRB- like cancer or diabetes -RRB- or if you qualify for income assistance . People who earn less than $ 48,000 per year may be eligible for premium assistance . In this video WEBSITELINK I show you an example of a 30 year old who earns $ 25,000 per year who can get the Bronze level plan for $ 18 per month . | A life insurance trust is an irrevocable , non-amenable trust that is set up for the purpose of being owner and beneficiary of one or more life insurance policies . A life insurance trust generally exempts the life insurance policy from estate tax . The trust also can spell out how the Trustee should manage the death benefit so it best serves the needs of specified minors . Before deciding to set up a life insurance trust you should consult a reputable life insurance agent and lawyer . Some things to consider are that the Insured person can not be the Trustee , and only the Trustee can change the beneficiary . Also , the Insured person can not borrow from the life insurance policy . |
How To Get Obamacare Health Insurance? | Obamacare health insurance may be obtained through healthcare.gov . For 2015 , the Obamacare open enrollment begins November 15 , 2014 and ends February 15 , 2015 . I would highly suggest seeking out a health insurance agent who is licensed and appointed with all OBamacare plans offered in your state . Independent agents may also have access to private exchange enrollment pathways which help speed up the enrollment process . | A mutual fund is very liquid , you can usually cash out with a phone call . Now if you mean by liquidity what is the cost to do so , that is different . A front loaded mutual fund has no redemption costs normally as you have already paid the costs up front . Those costs are not returnable . A rear loaded mutual fund puts 100 % of you funds into the investment , but if you redeem early -LRB- as in 5-10 years depending on the fund -RRB- you will pay some sort of cost to redeem . The exception to this would be the money market mutual fund as many of that type of mutual fund actually offer the ability to write checks from the account . Basically if you are worried about how liquid a mutual fund is , you should probably not be there . As with most investments , the plan should be long term . There are other places to place short term money . |
How To Get Obamacare Health Insurance? | Obamacare is working well in California . Obamacare was intended to help Americans who could not previously afford health insurance get insured . People with bad health -LRB- heart disease , obesity , cancer -RRB- often were denied coverage or charged a very high premium . Now these folks are charged the same rate as everyone else . People with low income were often priced out of the insurance market as well . It was not reasonable to expect a person making $ 25,000 a year to spend 15 % of their income on health insurance . Under ObamaCare people making under $ 48,000 per year are eligible for premium assistance . WEBSITELINK - In this video I show you how a 30 year old earning $ 25,000 per year can get a policy for just $ 18 per month . | In different areas of the country , you will find multiple carriers that offer the lowest rates . For example , in Ohio , Progressive and Geico may have great rates in Dayton , while in Cincinnati , Allstate offers the lowest prices . To determine the best rates in your area , visit a reputable website that offers free quotes or utilize an experienced broker . You 'll get unbiased advice and possibly save a lot of money ! |