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How To Get Life Insurance On My Husband? | We do this all the time . If you are married you have an insurable interest in your husband 's life . You need an insurable interest in order to insure that person . You also need their consent . With those two things , the process is simple . Your Life Insurance agent will take a written application from you , and a blood sample from your husband . The cost will be dependent upon your husband 's rating -LRB- their health -RRB- and age . Assuming they have a reasonable occupation , and the rating is fair , your cost will then depend upon the amount and type of coverage you wish . Either permanent -LRB- Whole -RRB- or temporary -LRB- Terrm -RRB- coverage . Gary Lane and Thank You . | Which is better whole life or term ? Depends on what you want to use it for ? Just reading the names of the two products should help you figure out which does better for your need . Do you have a short term need where you need coverage for a while , but not past a certain time ? Term is a great solution . Do you need lifetime coverage ? For your whole life possibly ? Well whole life is a great solution for coverage for your whole life . |
What Does Rider Mean In Life Insurance? | A life insurance rider works just like any contract rider . It is an extension to the contract that stipulates an additional obligation by one or both of the parties to the contract . Specifically to life insurance , this would be any benefit made available by the life insurer that is optional to the policy owner to select that is not part of the base policy features . | Make a claim when the recovery is more than a potential increase in subsequent premiums . Basically I advise against making petty claims that come close to the deductible on the policy . Many companies provide substantial discounts for being claims free . Loss of that discount should be computed . Other companies , however , lower the deductible for years without a claim . So you need to have a clear idea of the recovery you anticipate before filing a claim . If it is a liability claim , never hesitate to file the claim . |
What Does Rider Mean In Life Insurance? | A life insurance rider can come in different forms . Sometimes the rider is attached to a plan to outline the additional premium surcharge for risky avocational interests , such as sky diving or racing . Riders also can provide additional benefits such as premium waiver , guaranteed purchase options , spouse or children term insurance benefits . | Mental health is covered by most health insurance policies , but NOT all of them . I 'll explain : As a health insurance broker that has more than 33 years of experience -LRB- The time went fast ! -RRB- , this topic is often discussed . Any newly-issued Marketplace -LRB- Obamacare -RRB- policy must contain specific mental health benefits . It is one of the 10 `` essential '' benefits that legislation mandated to be covered . Many `` grandfathered '' plans do not cover these types of benefits , which is perfectly legal . And of course , you may have these types of benefits , but a deductible and/or coinsurance may apply . However , `` short-term '' plans -LRB- that are not ACA-compliant -RRB- are very popular , especially for persons that missed Open Enrollment or simply want no part of the Affordable Care Act . Typically , they do not cover mental illness expenses . |
What Does Rider Mean In Life Insurance? | A rider is an extra policy feature that is not included with the base policy but is available at extra cost . Many people just want the base coverage and do n't want to pay extra premiums for more bells and whistles . But others are looking for specific features . Since riders are optional , it works better for everyone . | Unfortunately , USAA does not have their own Disability Insurance policy for purchase . USAA does carry many other types of insurance policies . In order to purchase Disability Insurance , you can search on the internet for a Life Insurance company that offers a variety of Disability Insurance policies so that you can find the one with your best price and features . |
What Does Rider Mean In Life Insurance? | Life insurance riders add extra features to life insurance policies , usually for an extra charge . Some riders , such as a terminal illness rider , are often provided for no charge . Others , such as disability income rider , can make a significant impact on life insurance premiums . But adding a rider to a life insurance policy can sometimes save you a lot of money over buying a separate policy to accomplish what the rider can do . | The need for life insurance for most people increases with debt . The fact that your question states that you have a new mortgage suggests you now have a new debt . If you or your spouse or partner were to die and that income is lost , would it be a burden to the other loved one to cover this new debt ? If the answer is yes , you need additional life insurance . If you just closed on the new house you will soon receive or be bombarded is probably a better way to describe it , with letters about mortgage life insurance . These letters will look as if they are being sent by your mortgage company , but chances are they are not . Life insurance companies pay mortgage lenders for their lists and their logos to create leads to sell decreasing mortgage insurance . As you pay off your mortgage through the years , the face amount or benefit to your loved ones decreases , because you owe less to the bank . If you purchase a guaranteed level term life insurance policy , then your loved ones get the difference not the insurance company . If you have a 30 year mortgage for $ 200,000 , purchase a $ 200,000 30 year level term policy to cover that debt for your loved ones . When you pay off the mortgge drop the insurance coverage . Never leave a loved one holding excess debt when you die . |
Does Life Insurance Test For HIV? | Yes , along with many other diseases . The premium that is charged for your life insurance is based on many factors , diseases are a major portion of that equation . Life insurance is something that everyone should have and the younger you are when you purchase it the less it will cost you . Contact your local agent to discuss your specific needs to ensure that you get the plan that is right for you . | I live in North Central FL and I just switch to a company , their premium was about 40 % lower . They are pretty aggressive in this area . It also depend in the area of the state you live . Most companies will not write in some counties . I am a producer for an agency in my area with appointment with companies that will do business in this area . |
Does Life Insurance Test For HIV? | Yes , as part of the underwriting process one of the lab tests is for HIV . Depending on the state you are applying in , the acknowledgement of HIV testing may be in the wording just prior to the signature space . In other states , like mine , there also is a separate signed page that points out specifically that one of the lab tests will be for HIV . It also notes that you can place your MD there for receiving test results to go over with you and dozens of specialized clinics to help you . | In California there doesnt seem to be any restriction on Cat C cars . A Cat C car must pass testing by the Department of Motor Vehicles . If it is a reliable vehicle , there shouldnt be any concerns about insuring the car . Insurance companies are reluctant to write physical damage coverages , but as far as I can tell they can not refuse to do so in California . |
Does Life Insurance Test For HIV? | If you take a policy that requires an exam , the blood test will include testing for HIV . If you apply for a simplified issue policy with health questions , the health questions will usually ask if you are HIV positive or have AIDS . The only type of policy that does not test for HIV , or ask about it , is guaranteed issue life insurance . | You raise a very interesting question . How many seniors are covered under medicare . How many baby boomers are qualfying for medicare every day ? Medicare is like Social Security and the government that has the courage to monkey with the benefits we have all qualified for is probably risking their ability to get re-elected |
What Is Roth IRA 401K? | Roth IRA and a defined contribution plan formed by your employer under section 401 -LRB- k -RRB- are both retirement plans but are quite different . The Roth IRA is your individual plan funded with after-tax dollars while the employer sponsored 401 -LRB- k -RRB- is your employers planyou have access to your contributions and eventually to your employers contributions after a period of time . Your contributions are made with before tax dollars . The 401 -LRB- k -RRB- benefits in retirement after age 59.5 are fully taxed as ordinary income while the income from the Roth IRA is not taxed at all . | Disability insurance benefits can be easily calculated . The insurance policy that you have will have stated benefits within the contract that are very easy to understand . Otherwise , talk to a full-time experienced broker who can review the disability policy with you and explain benefits . No charge for services of course . |
How Necessary Is Renters Insurance? | Insurance may be required by your landlord . Otherwise insurance is never necessary . If you are able to sustain a large lawsuit with ease , then you dont need a renters policy . If your rental unit burns to the ground and you lose everything that you have in it , and it wouldnt even merit an entry in your check book , then you dont need a renters policy . If you dont need a friend to stand with you with money in their hand when things really go wrong , then you dont need a renters policy . | The Federal program known as Medicare does not have comprehensive prescription coverage . Medicare Part A covers hospitalization and Medicare Part B covers doctors visits . Medicare Part D is the prescription drug coverage and Medicare Part C is a plan that combines Parts A & B -LRB- and often D -RRB- into one plan . Both Parts C & D are run by private insurance companies which contract with the Federal government to offer these plans . |
How Many People Don't Have Health Insurance? | About 44 million people did not have health insurance prior to the Affordable Care Act . Since the new program began , over 7 million people have signed up for health insurance through the exchanges . Health plans are now `` guaranteed-issue '' as insurance companies can no longer decline you for a pre-existing condition or other health-related illness . Some people will still not have health insurance because many may choose to pay the penalty instead of securing coverage since the premiums for new plans are higher than the older plans , given the increase in benefits provided in each plan -LRB- the 10 essential health benefits required under each plan plus anything above and beyond it , varying by carrier -RRB- . If you have any questions about health insurance or would like help with your own coverage , send me a message by clicking on the `` contact me '' button - my direct contact information is available on my profile page . | A whole life policy is designed to last until your natural mortality -LRB- death -RRB- assuming all planned premiums are paid and there are no outstanding loans on the policy . Most whole life policies also have an options called `` reduced paid up '' which means the insurance company will offer a smaller death benefit with no further premiums that will last until death . |
How Many People Don't Have Health Insurance? | A LOT ! ~ 40 million American are still without quality healthcare coverage . That number is just an estimate , but pre-Obamacare the number hovered between 47-50 million . Assuming 7 million got marketplace insurance or Medicaid over the past enrollment period then there are still about 40 million without . Obamacare is designed to chip away at that number over many years . | Your going to have to contact your local independent agent to get some quotes for you . It is not going to be cheap , but if you maintain a good record when you turn 25 your premiums will change . If you decide to become insured under your parents policy have them inquire their independent insurance agent about an umbrella policy , or personal excess liabilty . They will be shocked at how cheap a $ 1 million dollar policy costs , which will help protect their home , retirement , etc. . Best of luck ! |
Does Homeowners Insurance Cover Electrical Surges? | For the most part a very common cause of power surge is a lightening strike and this is a covered peril in most standard issue Homeowners ' contracts . Sometimes , if power is lost as a result of a storm , when the service is restored there might be a surge and this too would be covered as it is a result of the storm damage . | You can secure health insurance by enrolling in the Patient Protection and Affordable Care Act -LRB- PPACA -RRB- or Obamacare . Youll need to find out if your state sponsors one of the health exchanges . Not all states do . Enrollment starts October 1 , 2013 . You can also go online to see the listing of local medical agents who offer health care as part of their practice . |
Does Life Insurance Require Physical? | It depends on age , face amount and the company . Usually if you are applying for a $ 100000 policy or grater the company will at least require a paramedic exam . Smaller face amounts do not usually require a physical unless you are older . Each company is different on their requirements so it is best to consult a good agent who can help you with your specific needs . | Yes , it is highly recommended . Unless you have significant savings set aside for 30 months or so , you may need to consider disability insurance . The average disability can run 30 months . Most working Americans have 90 days in cash reserves . Is it important to have a paycheck coming in ? Disability insurance is paycheck protection . |
Does Life Insurance Require Physical? | There are a number of life insurance companies that do not require a physical for some or all of their products . If you are in relatively good health , an adult but not yet a senior citizen , you can get over $ 250,000 without a paramed exam with a few companies . | Many large companies have great retirement plans for their employees . General Motors , Cisco , IBM and many others tend to treat their employees very well through matching 401k programs and sometimes , defined pension plans . You can ask about a company 's retirement plan by talking to their HR representative . They will likely give you specific information . If you are referring to financial institutions that provide retirement plans or consumers , a national experienced broker is a great resource . You should also check locally for a specialist in your area that is a Certified Financial Planner as his/her full-time position . |
Does Life Insurance Require Physical? | It depends on the face amount of life insurance and type of policy but no life insurance company requires a full physical . The underwriters that need physical information use what is called a paramed exam . This is a nurse that comes to you at no expense to you . She will ask medical questions , usually take blood and urine samples , blood pressure , height/weight and possibly an EKG . Most exams last less than 30 minutes . | This question appears like an inquiry from the UK , a country known for the phrase salary sacrifice . In US terms , compensation can be arranged in several ways to maximize a persons compensation package of earnings and benefits . Some pension contributors trade salary for benefits , both qualified and non-qualified . Some qualified plans may include life insurance . Generally , executive non-qualified plans can include life insurance such as section 162 bonus arrangements and other deferred comp plans . |
Which Health Insurance Is Best HMO Or PPO? | This is really a matter of personal preference . While the lower cost associated with HMO plans can certainly be appealing , anyone with an HMO only has coverage when they are using a medical provider in their network . If having your choice of doctor is important to you , and your chosen physician does not work with an HMO , or if you travel extensively and may need coverage away from your home area , then you will more than likely find the additional cost of a PPO to be very worthwhile . | Molina Medicare -LRB- Molina Healthcare -RRB- is a company that provides Medicare Advantage plans to persons on Medicare , or are Medicare and Medicaid . They offer healthcare policies in 9 states and work with lower income persons . Molina Healthcare was started by a physician who still serves as head of the company . |
Which Health Insurance Is Best HMO Or PPO? | Which is best an HMO or PPO ? Actually as far as health care goes , both are very similar . Both offer the benefits laid out by law of your state , or currently what the Federal Government requires . The difference comes down to how they are used for services . A Health Maintenance Organization -LRB- HMO -RRB- uses what is commonly called a gatekeeper system . A gatekeeper is a primary care doctor who the insured works with first and referrals are generated by this primary care doctor . If you use an HMO system you will direct your care through this gatekeeper . A Preferred Provider Organization -LRB- PPO -RRB- is a network of doctors and specialists who have contracted with a medical plan to provide services to members of that plan . A PPO offers SELF DIRECTED choices for the insured . The insured decides whom they wish to see . If they want to see a specialist , they call the specialist and set up the appointment themselves . Which is better ? Depends entirely on who is using their plans and what they want from a plan . | You should seek out the services of an experienced life insurance professional when considering any life insurance purchase . Term is simply a temporary life insurance product type , not a simple product that anyone with a license can sell properly . While there are many non traditional places life insurance is offered for sale these days - online , bank , stockbroker , etc. life insurance is a complex financial product requiring specialized training and experience . |
Which Health Insurance Is Best HMO Or PPO? | This is really a question of what you prefer . An HMO describes a plan that pays it 's doctors and other providers a flat fee per patient . You must choose a primary care physician and they are responsible for your care . They usually do n't get to bill for their services , they have to make do with what they get . They will be your first call or visit and will manage your referrals and other care . They are usually part of a hospitals system and your inpatient care will be within that hospital system . You have less control over the providers you utilize than with a PPO . A PPO is n't really a health insurance plan , it 's a network of physicians , hospitals and other providers . Many health insurance companies may utilize a PPO to control their costs . This is a fee for service arrangement where the provider bills the company for your care and you must use the hospitals in the network to get your highest benefit level . You can usually chose your doctors and hospitals and you have more control than with an HMO . The health insurance companies save money by using a PPO because the providers have to agree to get paid on the PPO 's fee schedule to gain access to the patients . Historically , and HMO is less expensive than a plan using a PPO . This is because the HMO has more control over your care and they also have more control over a providers compensation . This is really a question of preference . If you 're OK with the HMO dictating where you go and who you see for your care , this would be a great option for you and you 'll probably save some money . However , If you 'd like to be the one to choose who you see for your care , you 'd probably be more comfortable with a PPO arrangement . Just realize that you 'll probably have to pay a little more for that freedom . | Do not beafraidto tell any insurance salesman , No ! Honestly almost all agents will appreciate you telling them no , rather than avoiding them . If they give you a hard time just let them know you were testing them to see their true character , and you are glad you told them no . -LRB- wink wink -RRB- |
Which Health Insurance Is Best HMO Or PPO? | This varies from person to person and many factors can go into it such as personal preference , where you live , do you travel , and premium tolerance , just to name a few . PPO networks are much larger than HMO networks - HMO networks feature a more restricted network and you can pay higher costs for going to out-of-network doctors . The premiums for PPO plans will generally be higher because of this . If you can afford a higher premium , you may want to go the PPO route . If you have a very tight budget and you need to keep your premiums to a much lower figure , an HMO may be more suitable . Also , you may not have many options for health insurance in some areas . You 're generally going to have more options living in an urban area than a very rural one - not every carrier will offer every network type either under the new affordable care act . | Yes , Medigap and a Medicare Supplement are actually pseudonyms , two different terms that mean the exact same thing . Medigap refers to a policy that `` fills in the gaps '' of what Medicare does not pay , much like a Medicare Supplement , which is intended to `` supplement payment for items that Medicare does not pay in full . '' Either way you say it , both terms mean the same thing . |
Which Health Insurance Is Best HMO Or PPO? | An HMO tends to be more restrictive than a PPO . Please understand what happens if get treatment `` out of network '' . Do you have a `` PFFS '' - private fee for service '' plan in your area . If so , if you are asking this question in relation to medicare the PFFS only requires you to call the doctor yuo wish to go to and ask them if they accept the PFFS plan . | Yes , Nationwide does offer Homeowners Insurance in addition to many other insurance solutions . I have represented Nationwide in CT since 1985 . Nationwide , like all other companies , file with the state Insurance Department in each state where they offer their products . You can check on line at Nationwide.com to find a licensed Insurance Professional near you . |
When Does Health Insurance Coverage End For Dependent Children? | In most cases , dependent children will `` age off '' their parents plan once they reach their 26th birthday . If your child is severely disabled they may qualify for continuing coverage as a dependent . If your child is healthy , they may be better off with their own health insurance policy regardless of their age . Keep in mind that child only policies for children under the age of 19 do not exist in most states . | Ultrasounds are covered under Medicare . If they 're completed as an inpatient in a hospital , it would be covered by Part A . If they 're completed on an outpatient basis , it would be covered under Part B. Medicare typically pays for about 80 % of the expenses - you would be responsible for paying the other 20 % . A Medicare supplement policy can help pay the remaining 20 % . |
Where Can I Get Car Insurance For 6 Months? | Short answer : certainly . However this answer will vary from state to state and even company to company . But most of the time , 6 months is the standard length of time for an auto policy . 12 month policies are also very common , and the standard in some states . Many companies will even give you the choice between having a 6 month policy or 12 months . | Yes , one person can have two or more life insurance policies . Many people buy a variety of policies because different types of products best meet different types of needs , or simply because they want to diversify the companies with whom their life insurance is with . Insurance companies do not mind how many policies you have , as long as you can qualify for them financially . |
Where Can I Get Car Insurance For 6 Months? | Just about every company offers a policy for 6 months . Many will also offer a 12 month policy which I recommend if you can get it . I recommend you contact a local independent agent who can run rates for you from many different insurance providers to help you obtain the right coverage 's at an affordable premium . | Cash value permanent life insurance has the potential to accumulate cash . Depending on what life insurance product you purchased , the policy expenses and the policys performance will determine if you have money to borrow . Keep in mind that the early years of a cash value permanent life insurance policy have surrender charges that may restrict access to the cash value accounts and there are policy loan charges as well . |
Where Can I Get Car Insurance For 6 Months? | To add to the previous poster , the added benefit to a 12 month policy is that your rates can not go up until the end of the policy year -LRB- unless you buy a new car -RRB- and you often can still pay in monthly or bi-monthly payments . Of course if rates go down you will miss out until the end of your policy year , but rate decreases are much less common that rate increases as everything goes up in cost ! | Long Term Care Insurance is offered by many companies , although a number of carriers have dropped it in recent years . To name just a few would be unfair , and it would be impossible to list them all without overlooking some . To start , try talking to a licensed Life insurance agent who is certified in Long Term Care . He/she can guide you through the Long Term Care policies from several companies , as well as explain some Life insurance policies that offer riders or living benefits to cover long term care type needs . |
How Much Is The Premium For Medicare Part A? | For most individuals , there is no charge for Medicare Part A . If you had at least 10 years of Social Security wages -LRB- 40 quarters -RRB- , are a US citizen or legal resident and have lived in the US for 5 years , there is no charge for Part A . If you do not qualify for `` free '' Part A you will pay a premium of $ 441 monthly -LRB- 2013 -RRB- . | This depends on what you consider short term ! Most short term disability polices we use are designed to pay someone between 3-12 months of benefits if they were to become disabled . After that a long term policy is used . The last time I checked State Farm 's shortest benefit period is 12 months in duration . So if you are looking for something that will pay you for less than 12 months , say 3 months , you would need to use another company . Feel free to contact me with any questions ! |
Will Renters Insurance Pay For Hotel? | That is a great question ! Depending upon the reason for needing a hotel , and the terms of your policy , it should , at least for a specified amount of time , or up to a certain dollar amount . You will want to contact your agent , and find out for certain the terms of your policy . Most policies will include a section called `` additional living expenses '' , or `` loss of use coverage '' . It is under this part that you will find out what your policy covers . If there is a reason that your apartment is uninhabitable , this section applies . Good luck , and thanks for asking ! | People live , they love and they die . If we didnt love , there would be little need for life insurance . However , many of us love our spouse and our children and some even love organizations and causes . Many people want their lives to count and so they make sure that those that they love will not suffer hardships just because they pass . Life insurance is the best way you can say , I love you . And anyone who does not believe that has not delivered a death claim . Most of the time we are seen as an angel of mercy , and yes , love . |
Can You Cash In On A Life Insurance Policy? | It will depend on the type of policy it was and whether or not you are named on the policy as a beneficiary or an owner . The only policies you can cash in are those that have a cash value associated with them . Not all policies have a cash value so if you are the owner you can not access any cash -LRB- if you own a term policy on yourself -RRB- . But if you are the beneficiary and the insured dies , any cash value associated with the policy becomes yours . | It is not possible to answer your question as asked . Premiums are based upon age , sex , health , tobacco use , type of life insurance chosen -LRB- term , whole life , Universal life , etc. -RRB- the amount of insurance purchased . The best thing you can do is sit down with a qualified agent and let him/her custom design a plan suited to your wants and needs . |
How Life Insurance Works? | The basic way that life insurance works is like this : the money you pay for your life insurance policy -LRB- premiums -RRB- pays for operating expenses for the insurance company , and goes into funds where it can be accessed to pay your beneficiaries when you die . Some policies also have cash value that can be used while you are alive . | That is a great question ! Yes , universal life insurance is a type of whole life insurance , but at the same time , it 's really kind of not . The best way to explain it is that it is a whole life body welded to a term chassis . Just as term policies end after a certain amount of time , the average ul policy will too , if you 're not watchful . The average ul policy is only guaranteed for twenty years , and can end sooner , or last longer , depending upon it 's investment performance , and the amount of premiums that you pay into it . If properly funded and maintained , it can last your lifetime ; if you do n't watch for how well it 's funded , it can eat its cash value to stay active , and at some point lapse . Confusing ? Yup , this is n't a policy for people that are n't wanting to have to pay attention to it , possibly have to increase their premium payments , or who want the safety of not having to worry if they can lose the policy if they make the same payments over a length of time . I hope that helps , thanks for asking ! |
Much Life Insurance Does The Army Give You? | The Army does not provide life insurance for free , but individuals in the US Armed Forces are automatically enrolled in a low cost group plan with a face amount of $ 400,000 per member . You can choose to opt out of this plan altogether , or to reduce it by increments of $ 50,000 . | You can do it yourself online at Medicare.gov or contact a local independent agent who specializes in the needs of seniors . The advantage of a local agent is that he is familiar with the plans in your area and can help you navigate the Medicare website . Every plan is different and will have a different list of covered drugs -LRB- formulary -RRB- . Make sure the plan you choose covers your drugs and pharmacy . |
Does Business Car Insurance Cost More? | Commercial auto insurance is what generally covers a business vehicle . These policies usually cover a fleet of vehicles and the rating is done against a list of drivers . The use of the vehicle and the mileage of the vehicle are two other critical rating components . As the fleet of vehicles gets larger the amount paid by the operator starts to closely reflect the losses suffered by the insurance company until the company gets large enough that it skips the insurance company and assumes all the risk , or most of the risk themselves . This is known as self-insurance . Personal auto policies are rated on other criteria . In some situations the policy may be less expensive than if it was on a commercial policy . Most of the time , however , because of their increased usage , the business auto policy will be more expensive . | Typically , auto insurance policies are designed to cover potential liability , property damage , accidents when your car is damaged and comprehensive claims such as fire , theft , vandalism etc. . . A blown engine is caused by wear and tear -LRB- the vast majority of the time -RRB- and unfortunately would not be covered by a car insurance policy . A `` maintenance '' policy may offer some type of benefits -LRB- subject to conditions and exclusions of the contract -RRB- , but not your personal vehicle policy . Do n't forget to delete your car from your policy is the car can not and will not be driven . It 's possible you may wish to keep the comprehensive coverage in force , depending upon the circumstances . |
Does Business Car Insurance Cost More? | It may because for the most part business vehicles tend to be driven more thus increae the risk to an insurance company . It is best to talk with your insurance professional about options available to you that meet your specific needs and concerns . Also talk to your tax professional about the advantages or disadvantages with regard to your filings . | Medicare Part B covers DME -LRB- durable medical equipment -RRB- including hospital beds , canes , walkers and wheelchairs . To qualify your doctor must prescribe the devices and you must use a Medicare approved DME provider . Be sure to ask if they accept assignment . The nursing homes I have visited have their own wheel chairs . I am not sure why you need or want Medicare to pay for yours . |
Are Life Insurance Benefits Taxable In California? | There is usually no income tax paid on life insurance benefits in any state , including California . If the beneficiary is a person , life insurance bypasses probate . If the beneficiary takes the death benefit in installments , the interest only is taxable . Estate taxes are paid on life insurance , if applicable . | Annuities are designed for long term accumulation of money . If you want to accumulate money over a long period of time , annuities are often an integral part of a portfolio with that objective . Although there are some annuities that cater to the shorter term market , the traditional annuities were designed for a long accumulation phase and a long disbursing phase . |
Are Life Insurance Benefits Taxable In California? | There are 2 life insurance benefits that this question may be asking about : The death benefit or cash that has accumulated inside the policy . The death benefit is always income tax free in every state when received as a lump sum . Many insurance companies offer a larger death benefit if the benefit is received over time . If this is the case , then the additional benefit above the base death benefit would be taxable . There are also living benefits in some life insurance policies when the policy is used to accumulate cash such as in an indexed universal life policy . In this type of policy , cash accumulates on a tax-deferred basis and can be removed from the policy tax-free as a policy loan . Estate taxes may be due on life insurance benefits in some cases . | Medicare starts when you apply for it . For most individuals , this is the first day of the month you turn age 65 . If you apply late , you may get a delayed effective date for your Medicare coverage . Medicare Part A -LRB- your hospital insurance -RRB- is premium-free for most individuals -LRB- you must have worked 40 quarters/10 years and paid FICA taxes over that timeframe -RRB- . Medicare Part B -LRB- your physician insurance -RRB- requires a monthly premium -LRB- $ 104.90 in 2014 for most individuals - for those with higher incomes , you may be subject to the high-income penalty -RRB- . |
How Do I Sign Up For Medicare D? | If you already have Medicare Part A and B and just want to add Part D , you can sign up for Medicare Part D by calling Medicare at 1-800-MEDICARE -LRB- 633-4227 -RRB- . Or you may put in your zip code on this website to find a drug plan and enroll in it : WEBSITELINK . | Earned income comes from the IRS regulations as a qualifier for being able to contribute to a Roth IRA . It means you must earn compensation through work you have performed for your efforts in one form or another . There are two ways to receive earned income : 1 -RRB- Work for someone who pays you -LRB- you 'll receive a W-2 -RRB- 2 -RRB- You own or operate a business or farm -LRB- Schedule C will be filed with your tax return -RRB- The IRS defines earned income as wages , salary , tips and other taxable employee pay ; Union strike benefits ; Long-term disability benefits received prior to minimum retirement age ; net earnings from self-employment if you own or operate your own farm or business ; income as a minister or member of a religious order or a statutory employee and have income . There are plenty of categories that are not counted as earned income . Here are examples of income that are NOT considered earned income : Interest and dividends , retirement income , Social Security benefits , Unemployment benefits , alimony , child support , pay received while an inmate in a penal institution . The bottom line is the IRS wants to make sure you are performing work that will ultimately get them more tax revenue before they will let you pour more money into a tax deferred or tax exempt vehicle . |
What Do Life Insurance Companies Test For? | Life insurance companies test to see if you have recently used illegal drugs or tobacco . They also perform tests that can indicate that you have , or are at high risk for , heart disease , kidney disease , liver disease , blood disease , and diabetes . These labs are obtained done through blood , urine , and/or saliva tests . | The first year penalty is only $ 95.00 and will gradually increase . In 2016 the penalty will be adjusted to the CPI or Consumer Price Index . Most people will qualify for a subsidy to pay the monthly premium . Those individuals between 133 % & 400 % of FPL or Federal Poverty Level . The amount varies by state , in NM for example , if an individual makes less than $ 45,900 Modified Adjusted Gross Income , & $ 92,000 for a couple filing jointly , they will qualify for a tax subsidy . The less you make the larger the subsidy . There is catastrophic coverage available for those under 27 years of age . Bronze which pays 60 % , with a 40 % member coinsurance , Silver 70/30 , Gold 80/20 , & Platinum 90/10 . My company is licensed in several states , feel fee to contact me with additional questions . Or to get qualified through the Health Care Marketplace starting October 1st , 2013 . Enrollment runs through December 31st , 2013 . Coverage to begin January 1 , 2014 . |
What Do Life Insurance Companies Test For? | Video Transcript : What do life insurance companies test for ? As you well may know , people have to go through , generally , paramedical exams that look at 3 things , generally : Your blood , your urine , and sometimes EKG . All these can be performed at your home , your office , or other places of convenience . They 're really looking for different areas . It has 24 different areas they 're looking at . They 're looking at the outside normal range which can dictate diabetic conditions or cancer conditions . They 're looking for different diseases that the blood and urine workup will actually display on the panels and really tip them off to other areas such as drug use , tobacco use , alcohol use . They 're looking for all these areas because those are mortality-driven areas , and they actually have a really big impact on the price tag that you 'll pay . | Medicare is `` too big to fail '' but that does not mean there wo n't be changes . Funding and benefits will need to be adjusted in order for the system to survive . Medicare is like a balloon . You squeeze in one place and it bulges in another . Going forward , medical providers will have reimbursements squeezed , deductibles and premiums will rise . The biggest threat to Medicare beneficiaries is the Obamacare IPAB that will oversee medical treatment . |
Does My Health Insurance Cover Me In Other States? | When you travel to other states , often your health insurance will cover you , depending on your carrier , their network and type of claim . For example , a life-threatening procedure is generally covered . However , a simple office visit may be treated differently . It 's best to check with your carrier or broker to determine in advance what the outcome would be . | One of the primary goals that healthcare reform is trying to address is the stabilization of health insurance premiums . Health insurance has been consistently out pacing inflation increasing an average of almost 10 % annually . The simple answer is that the PPACA 's provisions will increase the percentage of Americans who participate in the healthcare market , and will dictate changes in health insurance underwriting that will have a direct effect in decreasing the price for older people and an increase for younger people . |
Does My Health Insurance Cover Me In Other States? | In almost all cases the answer would be `` yes '' . It will depend on what the policy sates inside it in regard to services in other areas . In most cases `` emergency '' situations are handled the same no matter what state you 're in.Regular services -LRB- routine visits , etc. . -RRB- may not be covered or covered depending on what policy you have . It is always a good idea to review your coverage and concentrate on the exclusion pages and out of area service levels before you travel to be certain . | A life insurance policy can be cancelled by the policyowner . For term insurance policies , many people will simply stop paying the premiums and allow the policy to lapse on its own since there 's no cash value involved . For permanent insurance programs , there 's usually some buildup of cash value inside it that you may want to cash out -LRB- the cash value is subject to any remaining surrender charges -RRB- . If you 're looking to cash out the policy , there 's usually going to be a form to fill out and send it - you can contact the insurance company or your agent to get a copy of the form . |
Does My Health Insurance Cover Me In Other States? | Almost every major medical policy I have seen has nationwide coverage . That being said , as + Larry Gilmore pointed out , you may be out of network . This is more typical for an HMO plan than PPO , but you need to be aware of the providers you use . When you receive services from a non-par provider be aware they can balance bill you for the difference in the amount your plan pays vs their `` regular '' charge . The differential can be significant . | As a retirement planning specialist , I spend alot of time doing long term care planning . Why would I do this ? Because NOTHING will derail a person 's life-time savings faster than a custodial -LRB- AKA long term care -RRB- claim . There are two reasons why a person should purchase LTC ; the first is that they care about the quality of care , and having a say in where care will be provided , should they require it . The second reason is that they care about protecting the assets that they have acquired over the course of their life-time , and they want to protect those assets for their healthy spouse and/or children , rather then have those assets eaten up by impairment , or having them signed over to medicaid or a nursing home . As far as WHEN a person should purchase coverage ; my youngest clients are usually in their 40 's , and with them I usually recommend a hybrid life insurance-LTC product ; my average clients are in their mid 50 's to late 60 's , and for them I recommend either traditional long term care or a single premium policy with refund provisions , and my oldest clients are in their mid 70 's . I think the best time to purchase for most people is in their mid to late 50 's , because most will get better underwriting and a favorable premium . I hope this helps . |
Does My Health Insurance Cover Me In Other States? | If you have a PPO health insurance plan you have in-network benefits as well as out-of-network benefits . This means that if you are traveling out of your home state you will have benefits which are most likely out-of-network benefits . Out-of-networks benefits are less than in-network benefits . For example your deductible may be $ 500 in-network and $ 1,000 out-of-network . In addition your co-insurance might be 20 % in-network but 50 % out of network . The annual out-of-pocket maximum would be higher also . | Many companies offer cheap renters insurance since this type of policy is usually fairly inexpensive . To find and compare the lowest rates in your area -LRB- perhaps $ 8-20 per month -RRB- , work with an experienced broker that has been licensed for a decade or more and utilize their expertise . Whether it 's State Farm , Allstate , Geico or another reputable carrier , they will be able to find you a plan that fits within your budget . |
Does My Health Insurance Cover Me In Other States? | Your health insurance will more than likely provide coverage for you outside of your home territory or state , yes . Be sure to discuss the specific terms and conditions of your policy with your insurance professional because the amount of benefit provided may be different -LRB- less -RRB- if you use an out of area or out of network provider or service . | The whole idea of a 401 -LRB- k -RRB- is that you defer taxation on the deposit and the earnings of the 401 -LRB- k -RRB- until a later date . The assumption is that you will be avoiding a high tax now for a low tax later . The irony is that is not always the case . The IRS will not only tax your 401 -LRB- k -RRB- but they will force you to take withdrawals at a predetermined rate after you reach seventy and a half years of age , unless you are still working . While you can not avoid paying the tax , there are schemes that would allow you to take the Required Minimum Distributions -LRB- RMD -RRB- each year and hopefully preserve the money in the fund . However , when you die , your beneficiaries will have the privilege of paying the taxes on the money . |
What Is Part B In Auto Insurance? | Coverage B is Property Damage Liability . The company pays when you are legally liable for damage or destruction of property caused by your auto . Normally this coverage is to repair the automobile , fence , or building that your auto struck . The limit on your declaration shows how much the company will pay to defend you and to pay any losses for which you are legally liable . Any loss beyond the limit of the policy is your responsibility . | It is important to have Disability Insurance if your income is needed for the well being of your family . It allows you to be paid even if you can not perform your old job , rather than forcing you to work at a job you detest just because you can do it . It gives you a cushion to get through a trying time . |
What Is The Definition Of Homeowners Insurance? | The basic definition of Homeowners Insurance is a hazard insurance or fire insurance policy provided for the primary residence of the titled owner of a property . Banks and mortgage companies simply name all policies ` Hazard Insurance ' as the building -LRB- dwelling -RRB- is the hazard ; many others simply refer to all policies as ` Fire Insurance ' as one of the basic perils covered is ` Fire ' . The correct terminology of the house insurance for the home you own and primarily reside in is called Homeowners Insurance . The Department of Insurance in all States refer to the Policy Form as a Homeowners Form , the basic policy form details are provided by the Insurance Services Office -LRB- ISO -RRB- . There is a link providing an online format to obtain a quote and buy home insurance online in multiple States ; may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK | The cost of Critical Illness Insurance is based on the company from which it is purchased , the type of plan , the length of coverage , the state in which it is purchased , the amount of coverage , and the age and sex of the person purchasing it . A $ 100,000 benefit at age 40 averages about $ 100/mo for a 40 year old woman in the Midwest . |
What Is The Difference Between Life Insurance And Long Term Care Insurance? | The difference between Life Insurance and Long Term Care Insurance is that Life Insurance pays the benefit to living beneficiaries upon the death of the insured persons , while Long Term Care Insurance pays the benefit to the insured persons -LRB- or to the facilities providing their care -RRB- if they can no longer take care of themselves . | That is a question best suited for your tax adviser . It 's not wise to take tax advise from an insurance agent . You do n't mention whether your question relates to your personal tax return or if you are asking about a business deduction , whether this is a qualified long term care policy etc. . These as well as other factors will determine the answer to your question , that is why it is important to discuss it with your accountant or tax adviser . Sorry I could n't be more helpful . |
Is 401K Loan Considered Debt? | When you borrow from your 401 -LRB- k -RRB- the amount of the loan will be deducted from any distribution from the plan along with any interest that was charged . You might be forced to take a distribution from you 401 -LRB- k -RRB- at a time that you didnt anticipate , such as the loss of employment , illness of spouse or relative or your own poor health . There are tax issues that should be discussed with a tax professional . | That is a great question ! There are a couple of ways this could go . By surrendering it , you will have no more insurance coverage , so you first want to consider having another policy in force before doing away with this one . Secondly , if it has any kind of cash value over what you 've paid into it , that growth amount is taxable . If you are considering the surrender to take the cash out of it , then you want to consider the tax implications.If it 's sizable , you may end up in a higher tax bracket for the year , as well as giving away a sizable portion back to Uncle Sam . Perhaps a loan from it , and keeping the coverage would make more sense . If you 're surrendering because it is tanking , and will soon cost you more than you 're willing to spend on it , then your main issue will then be the loss of coverage . Check with your adviser to see how the surrender of the policy will affect you , before acting , okay ? Thanks for asking ! |
Is 401K Loan Considered Debt? | Borrowing against a 401k is both a yes and no answer as to debt . No it is not traditional debt as showing against your credit score or debt to earnings ratio , because you are borrowing your own money . It is debt as Jim mentioned , because it must be repaid within 9 months . The tax and penalty consequences are much worse than borrowing the money from a lender . It is never advised to borrow from your 401k because you are borrowing from your own future . A simple rule is if you need money today while you are able to earn an income , you will need money when you are old and sick and ca n't earn an income . | A co-payment is the portion of the bill you are responsible for . Under original Medicare you are responsible for 20 % of the Medicare Approved amount . You will receive an explanation of benefits from Medicare outlining what the charges were , what was approved , what they paid and what you are responsible for . Your doctor can not balance bill you the difference . Some states allow 15 % over the Medicare approved amount in excess charges . |
Is 401K Loan Considered Debt? | That is a great question ! The answer is simple . Anything that you borrow , and must repay , is considered to be debt . In the cases where you borrow from yourself , -LRB- 401K loans , life insurance loans , etc. -RRB- it 's easy to think that it is n't really debt , but consider what happens if you do n't pay it back . If you were to lose your job , your 401k debt becomes immediately due in full . Your life insurance loan , if not repaid , can eventually cause the policy to lapse , and eventually cancel . A good financial rule is if you borrow it , it 's a debt , and needs to be repaid . I hope that helps , thanks for asking ! | With permanent life insurance there is a cash value accumulation component . Not so with Term insurance , so in the case of Term insurance liquidity does not apply . Within the category of permanent life insurance , Whole Life generally has the best cash value component . Once your policy has developed cash value , and that generally takes a few years due to the cost of providing the insurance component of the policy , -LRB- all the risk is on the insurance company -RRB- , then that cash value becomes a liquid asset that you have access to . Ask your insurance agent to explain what the options are associated with your policy . |
How Does Skydiving Affect Life Insurance? | Sky diving affects life insurance and is underwritten as a recreational hazard or dangerous activity . Nevertheless , there are life insurance companies that price the risk of sky diving in terms of a flat extra per thousand of death benefit , generally based on jump frequency . If your jump frequency is high , the life insurance company may offer you coverage with a sky diving exemption , i.e. they wont pay if you die from a sky diving incident . You need to shop several life insurance companies for the best price . | Having been in the business for 30 years I would say yes , with certain caveats . Do not expect an easy job ! A career in insurance can be frustrating and stressful at times . Do not try to start out on your own . Find a good organization that can provide training . You will need that training and help . Be prepared for long hours , a lot of phone calls , and marketing expenses . Many agents fail because they do not approach this as a business . This is actually more of a marketing job than a sales job . You have to learn to market yourself . If you do that the sales part is easy . Find a market you like and stick to it , become a professional . Do n't expect a quick buck ! As with any business it takes time to develop a good consistent income . Insurance is a great career but you have to be the type of person who is willing to stick it out when times get rough and put in a good honest day 's work . |
How Does Skydiving Affect Life Insurance? | If you are getting a simplified issue issue life insurance policy , the policy may be all or nothing . Either they do n't ask , and therefore , you can get the policy . Or they do ask , and therefore you can not get the policy . When purchasing medically underwritten life insurance , there are usually more options . You might be able to get a policy that adds on a flat extra , meaning that is charges an extra dollar amount per thousand dollars of coverage . Or you may be able to get a policy that excludes skydiving . Or you may want to get one of both . | Nearly everyone can get life insurance . If they do not qualify for medically underwritten life insurance , most people can get simplified issue life insurance , and if they can not get that , everyone who fits the age limits for guaranteed issue life insurance can get it . Not all states offer guaranteed issue life insurance , and not all ages can get it . So there are some persons who end up being unable to get life insurance . But again , nearly everyone can get life insurance of some sort . |
Is Woodpecker Damage Covered By Homeowners Insurance? | A homeowners policy pays for damages caused by specified perils . The list of perils is lengthy ; however , damage caused by birds and insects isnt covered under the standard forms . I am assuming that woodpeckers pose a threat to your house . You might check with your agent on how you can deal with this problem . | That is a great question ! Generally , your auto insurance company will have a contract or agreement with a local garage , mechanic , and body shop . They will refer you to them to have your work done . By doing this , they have an agreement with the garages to keep costs under control . Should you choose to use a different mechanic , you are certainly welcome to , but my experience has been that the insurance company is much more difficult to work with . Thanks for asking ! |
Is An 82% Increase In Auto Insurance Premium Unfair? | I have to be honest with you , I believe that your premium increased as a result of the accident . However , there can be a few `` layers '' to the increase that you as a policyholder do n't actually see . Your initial rate was probably in part because you had a safe driving record and were therefore provided a discount . The accident removed that discount . In addition , it is possible that in accordance with MD state law , your insurance company was also allowed to surcharge your policy a percentage based upon the total amount of claim paid . The two together can add up . You can always satisfy your curiosity by shopping of course . Now that you have had some experience with accident related increases , look for a company that offers accident forgivemess as an option . While you are at it , look for a opportunity to bundle your insurance for premium savings . Companies do offer this for such things as also insuring your home and buying Life Insurance . | When a Term policy is sold , the insurance company pays out from 50 % to over 100 % of the first year premium for commissions . With Term insurance , if there are any commissions paid after the first year , they are very small . Permanent insurance pays out a residual commission each year that the policy is in effect . It should be noted that it is not just the agent who gets the commission paid by the carrier . If there is a general agency/brokerage involved -LRB- as there usually is -RRB- , they get a cut . If the agent works for an agency or office , they will probably get a cut . So what the agent earns depends on whether he/she is independent and/or works directly with the carrier , or whether he/she is part of a team that places the policy and shares the commission . |
Is An 82% Increase In Auto Insurance Premium Unfair? | Safe driver discounts can add up to very significant savings over time , but an accident will instantly remove all those discounts . An appeal to the insurance commissioner is unlikely to lower your premium . The best possibility for you to get a lower premium is to compare quotes from several insurers . It is good to do this periodically to make sure you are receiving the best rates but a rate increase can make this particularly important . | How much home insurance do you want ? Do you want a policy for a home loan closing that meets the lender 's miniumum requirements ? Do you want to insure a home for what its market value is ? Do you want to insure your home for what it will cost to rebuild it and the necessary costs for debris removal , architectural fees , permits , building code upgrades ? The bottom line is that a homeowners policy produced for a mortgage closing is a minor detail but a homeowners policy when your home is damaged is EVERYTHING . A conversation with an insurance professional will cover these topics relative to your wants to determine just how much coverage you need . |
What Is Fers Retirement Plan? | The is the federal employees retirement system for federal government employees . Most of these plans are defined benefit retirement plans , but some offer defined contribution plans , which are becoming more popular . | Employer based Group health plans are considered guaranteed issue , and can not deny coverage to any individual . Some plans can impose waiting periods on certain pre-existing conditions , but no more then a year . If the employer does not really have a group plan but just pays for a series of individual plans , there could be a possibility of denial based on underwriting |
What Is A Cash Accumulation Fund Life Insurance? | This could be a few different things , but generally speaking it 's a life insurance policy with a non-forfeiture benefit -LRB- aka an ability to accumulate a cash value that can be redeemed upon policy surrender or used to provide for a degree of policy benefits if the policy holder decides he or she no longer wishes to pay the premium due on the original policy -RRB- . | In Connecticut , most standard issue Homeowners policies include a grace period in their payment options . These can range from 15 to 30 days usually . It is important to understand , however , that these are offered as a courtesy and not intended to be used on any regular basis . It is particularly important at a policy 's renewal because if payment is not received by the renewal date , and a grace period goes into effect , that does not extend the COVERAGE period of the policy . If premium is paid during the grace period and there happens to be a loss , there more than likely would be coverage . However , if the premium is not paid , the policy cancels back to the renewal date . If there was a loss during the grace period , that would not be covered . |
What Is A Cash Accumulation Fund Life Insurance? | When you purchase universal life insurance through a group policy , your employer may offer you a chance to put away extra cash in a cash value accumulation fund that is a part of your universal life policy . It affords you the opportunity to pay beyond your premium , to have the excess grow in a tax deferred account at a competitive interest rate . You would need to look at the illustration of projected cash accumulation , and compare it to other savings/investment plans to determine if it is a good option for you . | Typically , you should expect to receive a discount that represents somewhere around 10 % on your Homeowners ' premium . You may find that it is necessary to have a burglary and fire alarm system installed in order to obtain insurance if you own or are buying a higher value custom home that also happens to be located in an area where fire services and water supplies are not readily available or in close proximity to your property . |
Does Car Insurance Go Up? | That is a great question ! Yes , it certainly does . Especially if you 've had some issues with your driving , and had accidents , or received some tickets . Want to see it really shoot up -LRB- or stop completely -RRB- ? Let there be alcohol involved , or excessive speed . It may also go up if you 've had some issues with your credit , the auto theft rates in your area rise , or your company has paid out large claims , and has some profit to recapture . I hope that helps , thanks for asking ! | Bonus annuities are annuities that pay a bonus to the contract owner generally as an incentive to start the annuity . This bonus is generally paid as bonus to the interest rate in the first year of the annuity . These benefits can greatly improve yield on the cash in the annuity . Some care should be taken when considering these annuities as they often come with recapture charges if the owner cashes in the annuity within a few years from opening it -LRB- i.e. the bonus will be forfeited -RRB- . |
Is It Illegal To Not Have Health Insurance In Connecticut? | Under the Affordable Care Act , everyone needs to have a qualifying health insurance plan in place or pay a penalty . The penalties in 2014 will be calculated in one of two ways -LRB- you pay whichever is the higher amount -RRB- as : 1 -RRB- 1 % of your yearly household income - the maximum being the national average yearly premium for a bronze level plan 2 -RRB- $ 95 per person for the year -LRB- $ 47.50 if under age 18 -RRB- - the max penalty per family is $ 285 under this method . | A spouse may qualify for Medicare in his or her own merit by satisfying the work and legal resident requirements . If your spouse can not qualify on their own , they can meet eligibility requirements based on your work and residency . Your spouse must have been married to you at least 1 year before applying . |
What Is The Difference Between Renters Insurance And Condo Insurance? | Primary difference between Renters Insurance and Condo Insurance is in the ownership of the property . Both policies cover Personal Property , Loss of Use , Medical Payments to Others , and Personal Liability . And both policies allow for additional riders to be attached for specific items such as high value jewelry , gun collections , artwork , and etc. . Where the Condo Insurance is different is in the amount of insurance that can be added to cover Building Property . When you own a Condo , you own everything from the sheetrock in , and the condominium association manages everything from the sheetrock out . So items such as installed dishwashers , ovens , furnaces , and even toilets and showers fall under property owned by the condo owner . Typically renters do not own any of these items , and there is no need or reason to carry insurance for them . Condo policies may also have broader coverage for Additional Coverage areas , such as for Emergency Repair ; Trees , Shrubs , Plants and Lawns , and Separate Structures coverage.When you own a condo , it is important to know and understand what the General Insurance policy the Association holds covers , and how the common areas are classified . For example , what would happen if the association was forced to submit a large assessment on all of the condo owners ? Does the General Policy for the Association cover these instances ? If not , you 'll want a Condo policy that does have this coverage . As always , it is best to speak with a licensed , professional insurance agent who can help you interpret the policy coverage , identify gaps in coverage , and make sure you have protection for everything you might require . | Disputing a health insurance claim , or what usually is the rejection of a health insurance claim is an appeals process . All carriers give the insured the opportunity to appeal a decision . This process is usually lengthy and in my experience often unsuccessful . Do n't let that stop you from getting what you deserve however . As an experienced agent , if my client feels the carrier should have paid , then I encourage and assist in the process . |
What Is The Difference Between Renters Insurance And Condo Insurance? | The difference between Renter 's Insurance , Condo Owner 's Insurance & even Homeowner 's lies in the insurable interest . A renter 's policy is going to cover personal property -LRB- contents -RRB- , but not any building coverage ... since the renter does not own the building , they do not typically have an insurable interest . However , in some cases , there have been leases that require the tenant to pay for the insurance and taxes - these are called triple net leases . The renter in these cases may have to purchase coverage for the building rented -LRB- usually a home -RRB- . Condos almost always have a condo association . The condo association covenants determine how the condo should be covered . Some associations only cover the exterior walls , leaving the condo owner to cover everything attached to the building including what 's between the drywall/sheetrock & exterior . Some associations cover everything up to the drywall/sheetrock , while others even include anything attached to the drywall/sheetrock including cabinets , etc. . On occasion , the condo association can assess a property deductible to each individual condo for $ 10,000 ; in which case you would want to make sure that amount is added to the your policy . In each case , whether renter 's insurance or condo insurance , make sure you obtain the lease or covenants and make sure you do n't have any `` holes '' in your coverage ! | The requirement for licensed drivers to have automobile insurance started with Massachusetts in 1925 with almost all of the other states in the US to follow suit since then . Each state sets it 's own minimum coverage requirements and limits along with the vehicle registration requirements and fines/penalties for not having the required coverage . |
Does New York Life Sell Disability Insurance? | New York Life has relationships with a number of other quality insurance companies to offer many products , including disability insurance . Through these arrangements , customers can work with a New York Life agent to obtain a wide variety of products not underwritten by New York Life itself . Disability insurance can provide peace of mind and removes the uncertainty in case of an accident or sickness that makes someone incapable of working . When considering such coverage , one should review both short term and long term options . Business should also consider Disability insurance for key business persons in the business . | Life Insurance for the elderly can be costly , but it really all depends on gender , age , smoking status and health condition . A nonsmoking preferred male 61 desiring to secure a 20 year term life insurance coverage will pay around $ 7,000 in annual premiums , it could 30 % more if coverage was to age 100 . |
How Long Does Long Term Disability Insurance Last? | The general rule of thumb for long term disability is to age 65 . However there are disability insurance companies that offer longer or extended coverage . Then theres Lloyds of London , a company the prices risk outside the convention insurance market , in this case disability for high risk insureds or older insureds . | Term policy covers you only for a specific term . You may be able to continue it past that term , but only at a vastly increased premium . Check your policy . What you might want to do is convert that term policy to a whole life policy if you still can . That way the premiums will never increase and you may be able to get some of your prepayment applied . Gary Lane , Registered Representative , New York Life , 949 797 2424 . Thank you . |
How Long Does Long Term Disability Insurance Last? | There is a date on a long term disability insurance plan benefits paid out . Some last as little as 2 years , 5 years , 10 years and some will pay benefits until age 65 or newer plans age 67 . The reason behind the age 65 or 67 years old , the insured will be eligible for social security and thought to be retired . Certainly that is not always the case . | It would depend upon your present and projected income levels and the current amount of disability insurance you have . If you figure you 're going to top out at around $ 50,000 per year over the course of your life and you have a disability policy that would pay you around $ 33,000 + per year if you were disabled then you have effectively replaced your after tax net income . That 's not to say it would n't be wise to have more and to try to account for future inflation but your need for a supplement to maintain your current and projected lifestyle is not as great . On the other hand , let 's say you are a business owner , physician , executiveor really good salesperson who is earning $ 100,000 or more a year and you can reasonably expect that income level to be increasing in future years and your employer provides a disability insurance policy that tops out at replacing $ 50,000 of income . This amount would clearly be well short of replacing your current income level much less your anticipated future increases in income . Purchasing a supplemental disability policy , and try to get one that is not offset by your current disability policy , would be a wise decision in this situation . |
What Does Comprehensive Auto Insurance Mean? | Comprehensive auto insurance typically refers to a vehicle that is insured with liability . collision and comprehensive benefits . You can select different deductibles for your collision and comprehensive coverage . The `` comprehensive '' portion of your policy refers to claims `` other than collision '' such as fire and theft , vandalism , glass breakage etc. . . Often , no or a small deductible applies . | In historical terms , modern insurance was developed in England for cargo and ship protection for merchant commerce . The institution that emerged during those time is the late 1600s was Lloyd 's of London located in the financial district of London . In America , the first Presbyterian Ministers Fund was founded in 1759 . |
Who Offers Indexed Annuities? | There are hundreds of indexed annuities on the market and a few note worthy contracts to review . Annuity companies are always tweaking their product offerings to attract buyers . One note worthy company is Genworth with it 's relatively new roll-up provision that has real potential returns . It could be a suitable product for those seeking tax deferral and market returns . | The cost of disability insurance on a carrier depends on a lot of variables . These variables include : Number of employees , type of occupation of the employees , length of benefit period , definition of disability coverage , and percentage of income covered under the plan . Not surprisingly , the better the benefits , the more physical the average worker 's job is , and the higher the number of employees , the greater the expense of the insurance . |
How To Have A Good Retirement Plan? | The definition of a good retirement plan is paying into it every paycheck . It 's called paying yourself first . If you 're in a high tax bracket , you should consider a qualified defined contrition plan , especially if your employer matches any portion of your contribution . You should also establish your risk tolerance and time table to retirement . This will help you determine your product suitability . | No , not necessarily . A Life Insurance policy is a contract between you , as the owner and insured , and the insurance company . In it , you decide to whom you want the proceeds paid upon your death . This is the Primary Beneficiary . You may also name a Contingent Beneficiary who would receive the proceeds if for some reason your Primary could not . Though certainly recommended for financial planning purposes , a Will is not necessary to manage any of the elements of a Life Insurance policy . Of course , you should check with your Attorney and ask about any legal questions regarding this . |
What Is Bharti Axa Life Insurance? | Until the mid-1990s life insurance was restricted to two nationalized insurance companies in India . After that time , other companies were allowed to come into India in partnerships . AXA is a French based insurer . Bharat always means India . So this is the French-India consortium that is offering insurance products in India . | what kind of retirement plan do I have ? I would say the first place to answer that question would be with your employers 's human resources department . If you are self employed or your employer does n't offer a retirement plan , then the question bacomes more of what do you want for a retirement plan ? |
What Happens When A Life Insurance Company Fails? | When life insurance companies fail , they are almost always bought by other life insurance companies . The new life insurance companies usually treat those policies as they do their own business , honoring all the guarantees and dictates that were in place when the policies were taken out . If the failed company could not be purchased by or merged with another solvent company , there are state pools that will pay out a certain amount of the death benefit in lieu of insurance companies being unable to do so . | Depending on the type of term life insurance policy you purchased , really one of two things will happen at the end of the guaranteed term . The first and most common is you will see a dramatic rate increase , some times as much as 1,000 % . This is to insure you cancelling the policy and applying for another plan so underwriters get another chance to underwrite you . The second type of policy action is you receive a letter in the mail that states on this date your policy will cancel and coverage ends . |
What Happens If I Don'T Get Health Insurance? | If you do n't get health insurance , then do n't get sick ! You may have to pay a special tax for breaking the law but it will only be $ 95 in 2014 -LRB- increasing in later years -RRB- . But you do n't want to do that ! Utilize an experienced broker who can help you find , compare and apply for affordable healthcare coverage in your area . You 'll be covered for most medical expenses and can utilize free preventive benefits . | Life insurance blood tests do not test for herpes . However , some life insurance applications ask if you have an STD , and most ask that you note `` other '' health conditions if STD 's are not listed . In addition , if you are taking any medication for herpes , the life insurance application will ask the reason for the medication . While this is not a condition that will affect your rates a lot , if you want to avoid noting it on your application , choose a No Exam policy that does not ask for this information . However , if you are taking medication for herpes , the pharmacy record will most likely be checked . This article may help you decide whether to take the exam or not : WEBSITELINK |
Does Vanguard Sell Life Insurance? | The Vanguard Group , Inc sold Term life insurance for several years but ended that endeavor in late 2004 . Some of their products are issued and guaranteed through life insurance companies that contract with Vanguard . To read more about what Vanguard offers , visit their website WEBSITELINK and go to the What We Offer tab . | Annuities and Life Insurance are mortality insurance products . Annuities are generally purchase for income , sometimes for lifetime income for retirement scenarios . Life insurance is generally purchase for indemnification or inheritance planning scenarios , but it can also generate tax advantaged income . Some planners use both in combination for retirement income strategies . |
Does A 25 Year Old Need Life Insurance? | As Larry mentioned , not every 25 year old is the same . At 25 , I was married and was a father of my first -LRB- of two -RRB- children . I owned a home , had responsibilities I felt needed protection from my early death . Life insurance for me , at 25 was a wise choice to make . That said , at 19 I also had life insurance . Not as much as at 25 , but enough to make sure if something happened , my parents would n't have to have a financial loss to go along with the loss of their son . It is said that single people do n't need life insurance , but I think very few people are truly single . Someone has to take care of things when you pass . How difficult you want to make an already difficult situation is up to you . | While most government officials will claim Obamacare takes nothing from Medicare or senior health benefits , when the last was passed , the Obama administration arbitrarily claimed costs during the first 10 years would be less than $ 1 trillion dollars . One of the ways that the CBO came to this estimate was planned cuts of $ 700 billion in Medicare pending during that same 10-year period , despite the fact that Medicare will have more members than ever . Whether CMS can possibly provide coverage for more seniors while saving $ 700 billion remains to be seen , but the reality of the situation is those savings seem highly unlikely , if not utterly impossible . |
Does A 25 Year Old Need Life Insurance? | All 25 year olds are not equal . Life insurance death benefits replace income that dies when the insured dies . If a 25 year old -LRB- or any age -RRB- has other people that would be hurt financially at his or her death , then life insurance might be a smart solution . Granted , a 25 year old single person may not have as much `` need '' for life insurance as a 40 year old with 3 school age kids , but may still want life insurance to replace a financial loss . | Contributions to your Roth IRA do not have any tax consequences unless you exceed the permissible limits . Those limits are $ 5,500 for most people and $ 6,500 for those 50 and older . The premium is paid with after-tax dollars just like you would buy a cup of coffee . When the benefit is received it is free of income tax if you are then over 59.9 and the plan has been in force for five years or more . |
Can You Withdraw Cash Value Of Life Insurance? | You can have access to some of the cash value in the form of a withdrawal if you have a Universal Life policy . The typical Whole Life policy will allow you access to a loan on the policy based on the loan value . Term contracts have no cash value . Generally it is not advisable to access funds from your life policy unless it is an emergency . Some policies pay dividends . Dividends may be withdrawn without affecting the face amount of the policy . | A garage door is part of the dwelling so this means the garage door is covered by the same perils of the policy as the rest of the home minus your deductible . If it 's attached to the home is part of the home . If it falls free then it 's personal property and not dwelling . |
Can I Change My Medigap Policy? | You can change your Medigap policy , any time you wish . Unlike Medicare Advantage , Medicare supplement plans do not have annual enrollment . This increased flexibility means you are eligible to buy a new or replacement Medigap plan at any time during the year . Understand your guaranteed rights to purchase a Medigap plan . | The type of life insurance you can borrow from is permanent life insurance that has a cash value . This can be Whole Life , Universal Life , Indexed Universal Life or Variable Universal Life . Normally , Term life does not have a cash value , and therefore is not a policy that can be borrowed from . Keep in mind that you may need to wait for a permanent policy to build a cash value before you can borrow from it , and not all cash value accumulation is guaranteed . |
Is There Insurance That Allows You To Drive Any Car? | There is what is called `` non-owned auto '' coverage . This coverage typicallyprovides liability , uninsured and under-insured motorist coverage to licensed drivers that do not own avehicle . This coverage can be more costly than coverage for a person that owns a vehicle . Non-owned auto coverage typicallydoes not provide collision or other than collision coverage . | They can contact Medicare if they wish but I doubt any ever do . If your Medicare number shows up as valid , and your ID matches the name on the Medicare card , there rarely is a problem . Most of the time a provider seeks to verify eligibility is when there is a procedure that may be denied |
What Is A Dependent On Life Insurance? | A dependent is generally a minor child using a policy rider or unit purchase attached to a parent 's life insurance policy . Keep in mind that a dependent can also be a policy beneficiary as well . A dependent can also have their own policy with the legal guardian as policy owner . | When the adjuster finishes a claim , they make an offer essentially . A policyholder , particularly in California is not obligated to accept that offer . In the case of auto insurance it normally means that the adjuster has an estimate in hand for the work necessary . Once the work starts , additional damage may be discovered and the adjuster will re-evaluate the claim . If you disagree with the amount of the settlement you can still take the car to whoever you wish and they will go through the same process . It could be that the company will not reimburse for the full bill for your selected repair shop . There are arbitration and legal actions available to come to some sort of agreement . If your concern is over fault , that is an entirely different matter and there is a formal process that ends in arbitration . Once the claim is arbitrated the percentage of fault is assigned and the company is bound by the order . |
What Is A Dependent On Life Insurance? | A dependent on a life insurance policy is usually a spouse or a child that has been added to the coverage of a primary insured . The upside of doing this is to save premium dollars on the insurance . The downside to purchasing life insurance this way is if the primary insured dies to the rest of the family is left uninsured . Be sure the company allows you to convert to a permanent plan if you do purchase one this way . | I have a bit of a different opinion about this . I believe most agents fail because they are n't trained correctly . I 've been doing this since 1991 and explored many company 's training programs . In that time , I have n't seen them change . Do you think the market has ? Insurance companies spend thousands of hours and millions of dollars training their agents on products , business plans , and sales skills . I 've consulted with new agents from some of the biggest companies in the country that were on the verge of failure . They did exactly what they were trained to do and they were failing miserably . These are some bright , knowledgeable sales professionals . You know what their companies told them to do ? Buy leads and call them , buy more leads and call them . If that does n't work , you 're not calling enough . Can you believe it ? When you find something that 's not working enough , do it more . I believe that the reason agents fail is that they are n't good prospectors . They 've never been trained in how to prospect or market themselves or their business . Try this , go to 10 agents , any age , any experience , and ask them what their biggest challenge is . I 've asked a lot more than that and I can tell you what the overwhelming answer is : `` I do n't have enough prospects to sell to '' . It 's the same with everyone . If you find someone who says they have enough or too many , they 're service providers , not agents . I watch really smart , professional salespeople struggle at the same time I look at a guy who looks awful , sounds worse , and does n't know anything about insurance succeed almost effortlessly . You know the difference ? That last guy knows how to talk to people . Watch him , he 's always talking to people and he actually listens to them and cares . Bottom line , the best prospectors are the most successful agents . As an industry , we have to begin training prospectors , not salespeople . We have to show new agents how to connect with more people and market themselves . We should spend more time training people on how to find new prospects than we do on how to sell to the prospects they do n't have . I believe there 's a shift coming from price driven , transactional selling back to a relationship based insurance practice . If we treat our products and services as a commodity , so will the consumer . So , let 's take the first step and change the way we train new agents . Let 's first find agents motivated by the profession , not the money -LRB- not that the money 's bad -RRB- . Then , let 's train them on finding good prospects . As I see it , that 's the future of our profession and the companies and agencies that start doing this will be on the front of that wave while the rest try to figure out why their 50 year old training program is n't working . |
What Is A Dependent On Life Insurance? | Life insurance underwriting gives a lot of latitude to the definition of dependent . Its actually pretty interesting . I think this is because the whole principle of insurable interest implies a certain dependency . It is this principle that is the bottom line as to whether or not the company accepts the beneficiary designation on a submitted application . So who really can be dependent on the insured financially , and thereby qualify as a beneficiary on his or her policy ? Certainly a spouse . Does the spouse have to be working ? No . Can the spouse be rich and independently wealthy ? Yes . They still can be considered financially interdependent . Kids ? For sure . Minors ? Of course . How about children that are of legal age ? Well , they certainly could still be financially dependent on their parents . To some extent . -LRB- Until their parents boot them out of the nest :-RRB- Parents ? Yes . That is very common these days . Elder parents become dependent on their grown children financially . Sad to see , but it happens all the time . Other family members ? Could be . How many times do you see a family taking in a niece , nephew , cousin , aunt , or uncle ? Then you have the whole realm of domestic partners . Same sex . Opposite sex . Older man , younger woman . Older woman , younger man . As long as they have some kind of financial independence shared accounts , etc. they could be named as beneficiaries . And we havent even talked about how businesses can be dependent on people , as well as charities . Interesting , dont you think ? | Absolutely ! Many insurance companies provide automatic coverage on a newly acquired car , requiring that you contact them as soon as possible with all the details such as vehicle identification number and lienholder info if the car is financed/leased . But you should first verify that policy with your insurer . And you will want to talk about exactly what kind of coverage you want for the new car . |
Will I Be Forced To Have Health Insurance? | Under the Affordable Care Act , for the first time in U.S. history , the federal government now requires to purchase health insurance . The requirement that everyone buy insurance , also known as a mandate , is a key component for the law to expand coverage to be able to work . To get coverage for sick people , insurers need as many healthy people in the pool of customers as possible , so the cost of the sick are spread amongst many policy holders . Starting this year , the insurance industry will have to cover millions of new customers who may have health problems and turn no one away , resulting in the government 's guarantee the insurers millions of new , healthy customers . However , under certain circumstances , you may not have to make the individual responsibility payment . This is called an exemption , which you may qualify for an exemption if : Youre uninsured for less than 3 months of the year The lowest-priced coverage available to you would cost more than 8 % of your household income You dont have to file a tax return because your income is too low Youre a member of a tribe or eligible for services through an Indian Health Services provider Youre a member of a recognized health care sharing ministry Youre a member of a recognized religious sect with religious objections to insurance , including Social Security and Medicare Youre incarcerated , and not awaiting the disposition of charges against you Youre not lawfully present in the U.S. Hardship exemptions If you have any of the circumstances below that affect your ability to purchase health insurance coverage , you may qualify for a hardship exemption : You were homeless . You were evicted in the past 6 months or were facing eviction or foreclosure . You received a shut-off notice from a utility company . You recently experienced domestic violence . You recently experienced the death of a close family member . You experienced a fire , flood , or other natural or human-caused disaster that caused substantial damage to your property . You filed for bankruptcy in the last 6 months . You had medical expenses you couldnt pay in the last 24 months . You experienced unexpected increases in necessary expenses due to caring for an ill , disabled , or aging family member . You expect to claim a child as a tax dependent whos been denied coverage in Medicaid and CHIP , and another person is required by court order to give medical support to the child . In this case , you do not have the pay the penalty for the child . As a result of an eligibility appeals decision , youre eligible for enrollment in a qualified health plan -LRB- QHP -RRB- through the Marketplace , lower costs on your monthly premiums , or cost-sharing reductions for a time period when you werent enrolled in a QHP through the Marketplace . You were determined ineligible for Medicaid because your state didnt expand eligibility for Medicaid under the Affordable Care Act . Your individual insurance plan was cancelled and you believe other Marketplace plans are unaffordable . You experienced another hardship in obtaining health insurance . | Yes , there is a deductible for homeowners insurance . The average deductible that we see is $ 1000 , but you can choose a lower deductible such as $ 500 or a higher deductible up to $ 20,000 . The more `` skin in the game '' you offer , the lower your homeowners premium will be . I hope this answers your question . Best , Josh DeBoer 918-582-8206 WEBSITELINK |
Why Should I Put My Life Insurance In Trust? | There are a number of reasons , depending on the type of Trust . Some Trusts help protect the funds from Medicaid fro example . There are also tax and estate considerations . Whether to put the insurance in a Trust depends on your individual circumstances and requires the advice of a good agent or planner to help determine the advantages to you and the type of Trust you should use . | The definition of `` good '' varies from person to person and business to business . However , here are some of the aspects of a health insurance policy I advise my clients to be aware of and comfortable with : 1 -RRB- Are the doctors , hospitals and pharmacies you want to use in-network providers with the health insurance plan you are considering ? 2 -RRB- What would your coverage be -LRB- if any -RRB- if you want to use a health care provider who is not an in-network provider with the health insurance plan you are considering ? 3 -RRB- What is the pharmacy benefit under the health plan you are considering ? And , if you have specific prescription drug needs are they covered under the health insurance plan 's prescription formulary and to what extent are they covered -LRB- copays , co-insurance , deductible & co-insurance -RRB- ? 4 -RRB- Does the health insurance plan allow its members to go directly to specialists such as cardiologists or does it require that you are referred to a specialist by your primary care physician first ? 5 -RRB- If you travel regularly outside of your home area -LRB- to other states or outside the USA -RRB- does the health plan provide for coverage outside of your home service area in the event you need non-emergency care ? 6 -RRB- Is the health insurance company you are considering a well established national or regional health insurance carrier with strong finances or is it one of the new , experimental Co-Op health plans recently established under the provisions of ObamaCare ? 7 -RRB- Does the overall value proposition of the health insurance plan you are considering meet your current and anticipated needs ? In other words , does its monthly premium , coverage levels and provider network really work for you . |
What Is Universal Life Insurance And How Does It Work? | Universal life insurance is a form of permanent/cash value life insurance known for it 's flexible premium and adjustable -LRB- downward in most cases -RRB- death benefit . Like all permanent products , the policy is driven by cash values -LRB- a reserve -RRB- in the policy that covers policy expenses . The policy holder also has access to this cash value either as a withdrawal or as a policy loan . Universal life insurance is also very well known for it 's transparency , as all expenses are readily available to the insured if he or she wishes to see them . | Corporations can buy annuities as long as the issuing company allows that particular annuity product to be owned by a corporation . However , a corporate owned annuity is not tax deferred . At one time it was , but the IRS changed this rule . Corporations use annuities to fund corporate benefit plans , and to just accumulate assets for the future . |
How Much Does Life Insurance Payout? | Great question ! Let 's say you bought a $ 10,000 life insurance policy . The amount of the insurance policy that you purchased has a `` face value '' or `` death benefit '' of $ 10,000 . Assuming that you had made up to date payments , and never borrowed from the policy , your beneficiary should receive a check for $ 10,000 after all the paperwork has been filed . If you had borrowed $ 500 , let 's say , and the interest on it was $ 100 , then your check would be for $ 9,400 . If you have more questions , please feel free to contact me , I 'm happy to help ! Thanks for asking ! | Generally no . Typically , you 're only getting cash value under a permanent life insurance policy -LRB- universal life or whole life -RRB- . Term insurance is fairly straightforward - you 're either dead or you 're not dead . If the insured dies during the term period , the policy pays the death benefit to the beneficiary . If the insured is still living and the term period expires , you can continue to pay the premiums for what would then be an annually-renewable policy -LRB- with rates going up each year -RRB- , or terminate and secure new coverage . The idea of term insurance is to have coverage for only a set number of years -LRB- 10 , 15 , 20 , 25 , or 30 years -RRB- and then the premium guarantee would end . Some return of premium policies build cash value because the carrier gives you back your premiums if you outlive the term of the policy . However , you 're not borrowing from it like you can with permanent coverage . The premiums for ROP policies are higher than traditional term insurance for that reason , but if you think you have a good chance at outliving you 're term insurance policy and you can afford the additional premium , it may be an option for you to consider . Please feel free to contact me for further assistance . Thanks very much . |
How Much Does Life Insurance Payout? | If an insured dies , thena `` permanent `` life insurance policy will pay the named beneficiary the face amount of the policy , minus any outstanding loan balance that there may be . In the case wherea `` term life policy '' is in force , then there would not be any outstanding loan balance since there is no cash value in a term policy . In that case , the face amount would be paid to the beneficiary . | Kidney dialysis is a Medicare Part B service . If you have End-Stage Renal Disease -LRB- also known as ESRD -RRB- , Medicare will -LRB- generally -RRB- coverthree dialysis treatments per week . You pay 20 % of the Medicare approved amount , and the Part B deductible applies . This is where your Medigap Plan will help cover some if not all of the remaining costs . Medigap Plan F will pay the remaining 20 % of the Medicare approved amount and the applicable Part B deductible . You pay $ 0 . Medigap Plan G will pay the remaining 20 % of the Medicare approved amount after you have paid/met the applicable Part B deductible . You pay , at most , $ 147 -LRB- Part B deductible in 2014 -RRB- . Medigap Plans A , B , D , M will pay the remaining 20 % of the Medicare approved amount after you have paid/met the applicable Part B deductible . However , you are also responsible for Part B Excess Charges , so you may end up paying more than the Part B deductible -LRB- $ 147 in 2014 -RRB- . Medigap Plan Cwill pay the remaining 20 % of the Medicare approved amount and the applicable Part B deductible ; however , you pay for any Medicare Part B Excess Charges . Medigap Plan Hi-F will pay all Medicare approved amounts after you have met/paid the $ 2,140 deductible -LRB- 2014 -RRB- . Medigap Plan Nwill pay the remaining 20 % of the Medicare approved amount after you have paid/met the applicable Part B deductible -- except for a copay of up to $ 20 for some office visits . You are also responsible for paying Medicare Part B Excess Charges . In regards to Excess Charges , this is what you are charged above the Medicare approved amount if the doctor , provider , or supplier does not accept Assignment . If a provider does not accept Assignment , they are telling Medicare that they do not agree to accept the payment amount Medicare approves for the service -- this is how you can get billed for Part B Excess Charges . |
How Much Does Life Insurance Payout? | You determine how much your life insurance will pay out , when you buy the policy . At that time , you will choose the `` death benefit '' , also called `` face amount '' . This is the amount your beneficiary would receive if you were to die within the time frame of the policy . If you bought 10 year term , the policy would only pay out the face amount if you died within the first 10 years . If you buy permanent insurance , it should pay out upon death at any age , but be sure you understand the guarantees so you know that before you buy . | In order to understand how much is required or desired , as an agent I would need to consult with you your insurance needs to help determine the coverage 's necessary to adequately cover you in the event of a loss . This way you can make an informed decisions as to which coverage 's you wish to carry and potentially any you may decline . Also this will help you understand what is actually covered and what is not . Call a local independent agent to help you find the right coverage 's at the right premium . |
How Much Does Life Insurance Payout? | The amount of money paid out to the policy 's beneficiary is equal to the face amount cited in the policy -LRB- for permanent programs , less any outstanding loans or interest charges -RRB- . The carrier will pay the proceeds when a claim is made - a copy of the death certificate of the insured and a completed claim form will need to be submitted to the carrier . Once the paperwork is processed , the funds will be paid to the beneficiary . | Video Transcript : Can I get life insurance if I have diabetes ? Well , I want to ask some questions first . Has there been any weight change , ten pounds or more , all within the last year ? What is the reason for that change ? When were you diagnosed with diabetes ? Are you controlling your diabetes through diet and exercise ? Are you using all medications ? Are you using insulin ? Has the insured or the person that 's looking for this , had any chest pains or coronary artery disease ? Remember sometimes diabetes with weight and these other ancillary diseases , can complicate it . We call that '' `` multiple impairments . '' '' So , if I can start to answer some of these basic questions , is it diabetes 1 ? Is it diabetes 2 ? Is it controlled by diet and exercise ? Is it controlled by insulin ? Was it adult onset ? I can get a good idea just with this questionnaire , to what kind of offer we can give from life insurance companies that are benevolent towards diabetics . |
How Much Does Life Insurance Payout? | The life insurance company , after being presented with proof of death and approving the claim form pays the death benefit . The death benefit includes the face amount of the policy , plus any dividends , plus any term riders less any loans . In addition if the death the was accidental and the policy included an accidental death benefits and addition sum would be paid . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . | Auto insurance is not required by federal law . Auto insurance is not regulated by federal regulation . States establish both the requirement for auto insurance and the regulation of insurance companies . Your state insurance commissioner and department of motor vehicles can provide any information that you require about automobile insurance . |
How Much Does Life Insurance Payout? | Life insurance proceeds are generally paid out immediately upon death of the insured . In some cases depending on the needs of the beneficiary , the funds may be paid out as an income for life or in some other method . If the proceeds are governed by a trust or some other legal entity , then the proceeds would be paid into the trust and distributed as instructed . | The initials CMFG apparently do not have a meaning that has been made publicly known . They use the marketing name CUNA Mutual Group , which is a company that sells insurance products through credit unions . If you have a policy with the title , `` TruStage '' , it was most likely purchased through a credit union and may show the charge from CMFG . |
How To Get Approved For Long Term Care Insurance? | Long term care insurance is a morbidity product that is underwritten on the basis on medical and behavioral information . Medical information is based on your gender , age , smoking status , health history and current medical condition . Behavioral information is based on motor vehicle records , vocational and recreational hazards . Most advisers begin addressing long term care insurance with the clients around age 50 . But the buying public tends to purchase long term care insurance around age 60 . A couple of considerations here : You want to buy long term care when your healthy an relatively young to afford the premiums . But even if youre healthy , whats the predisposition of your family regarding assisted living and nursing home confinement ? If theres negative health history , then buying long term care earlier may be more prudent . | Face amount is the amount stated on the policy that will be paid to the beneficiary in the event of the death of the insured or maturity of the policy . The face amount is what most people talk about when they discuss their life insurance policy . The company may pay the face amount to the beneficiary in a variety of methods . They are not limited to the lump sum death benefit . |
What Is A Deductible For Renters Insurance? | There are two main parts to a homeowners policy . Personal property is covered , however if there is a loss the recovery is reduced by a deductible . Most companies will write a renters policy with a deductible of $ 250 - $ 500 . The other major part to the policy is liability . That part of the policy covers you for claims involving personal injury or property damage to the limits of the policy without any deductible . | Jason has a good option for you . I have another consideration : reduced paid-up insurance . You can ask your carrier how much coverage they will guarantee if you stop paying premiums now . It will be less than you now have , but if that is okay , then you wo n't have to go through underwriting again for a new policy . It all depends on how much coverage you need , and for how long . And - importantly - what rate you could command if you bought a new policy . To determine that , you should get prequalified . Make sure you know the company , product , and price before you formally apply . |
What Is A Deductible For Renters Insurance? | A deductible is the amount of risk that you are willing to assume in the event of a claim . For a renters policy the amount that I recommend to my prospects and clients is five hundred dollars . Your deductible depending on the carrier could be anywhere from zero on up . The higher the deductible typically the lessor the premium for the policy . | Generally speaking , traditional `` Whole Life '' Insurance is about the most conservative of the life product solutions , but also the most costly . Like all of the life insurance solutions , however , the amount you pay will be dependent upon three main things : A -RRB- The amount of coverage that you buy , B -RRB- your age when you buy it and C -RRB- your physical condition and health history . |
What Coverages Should I Have For Auto Insurance? | In my personal opinion . I tell my prospective clients to get nothing less than 100/300/100 coverage . What the numbers mean is 100000 of liability coverage per individual and 300000 of liability coverage per accident along with 100000 of liability coverage for property damage that you are deemed responsibly for . I would also recommend 100/300 coverage for uninsured and under-insured motorist at minimum . Collision and other than collision coverage is up to the individual unless you have a loan on the vehicle , then the lender will more than likely require it . Deductibles for collision and other than collision are up to what you are able to bear financially or what your lender is willing to accept . | A deductible for homeowners insurance is typically the amount of financial responsibility that the insured is willing to accept in the event of a claim . i.e. you have a five hundred dollar deductible , lightning strike the roof of your home and the claim amount is one thousand dollars . The claim settlement amount would be five hundred dollars from the carrier . The insured would be responsible for the first five hundred dollars . |
Is Medicare Deducted From Military Retirement Pay? | You must have Medicare parts A and B to receive retirement benefits from DFAS . The premium for part B is deducted from your Social Security retirement benefit . Medicare A & B starts the month of your 65th birthday , whether you are receiving retirement benefits from Social Security or not . If you are not receiving social security retirement benefits you will be billed separately for the Part B . It is possible , although inadvisable , to refuse Part B . You shouldnt do that unless you are covered under an employer provided health plan . | This is a great question and the answer is YES . Remember , you are only insuring your personal property and general liability , ie : if one of your guests falls down a flight of stairs at the place where your renting the room . I have written this exact policy many times . If you have further questions please ask . |
What Is A Graded Benefit Whole Life Insurance? | A graded benefit Whole Life insurance policy is one that pays a limited benefit during the first years . Most policies are graded from 1-3 years and most limit the graded part to natural death -LRB- death due to illness or old age -RRB- . These policies usually pay 100 % from day one for accidental death . | With Return of Premium Life Insurance -LRB- ROP Life Insurance -RRB- , the insurance company charges more than regular term insurance , then invests your money so that they can return your premiums back to you when the term ends . Sometimes you can get back part of the premium if you hang onto the policy for about half the term , and the amount that is returned to you increases until it reaches 100 % at the end of the term . While substantially higher priced than regular term insurance , the return is usually much better than a Certificate of Deposit , and you get the money back tax free . For those who want term insurance but feel that they are throwing their money down the drain , Return of Premium Term can be a good solution . |
What Is A Graded Benefit Whole Life Insurance? | Graded benefit whole life insurance pays out a reduced death benefit during the first 1-3 years that you have the life insurance policy , for death due to illness or old age . Sometimes the death benefit starts out very low in year one , then goes up a bit in year two , and so on until the policy pays 100 % . Thus , the title , `` graded '' . Most graded life insurance policies will pay out 100 % from day one for accidental death . Graded life insurance pays back more than you paid in during the first graded years of the policy , and more than you would be able to get from a savings account . So certainly has its place for those who are unable to get a policy that pays 100 % from day one for death by any reason . | A simplified employee pension program is based on an IRA . However , since it is sponsored by the employer the limit for contributions is much higher -LRB- 25 % of compensation up to $ 52,000 . -RRB- Each participant has a separate account . There is a minimum contribution for each SEP participant of $ 550 . For additional information contact a life insurance agent that specializes in retirement programs . |
What Is A Graded Benefit Whole Life Insurance? | Grade benefit whole life insurance is generally the final coverage alternative for those who have been declined or are too sick to obtain traditional life insurance . The death benefit is a step increase , usually after the second year to protect the companies from risk aversion the first 24 months of the policy . By the fifth year the death benefit is generally level going forward . | You can buy health insurance with a pre-existing condition . And not only will the pre-existing condition be covered , but you will not be charged an extra premium . The Affordable Care Act mandates that insurers must provide coverage without increasing the rate for diabetes , heart disease , cancer or any other major or minor condition . There will be no waiting period and a federal subsidy can potentially pay some , most or all of your premium . So where do you get coverage ? Reputable experienced brokers and our websites are the best resource for information , comparing the lowest rates and quickly enrolling . We specialize in helping consumers find the best prices , determining federal subsidy eligibility and purchasing the best available policy . Each state will have different options and prices can vary . Open Enrollment is the best time to obtain coverage although plans can be purchased outside of Open Enrollment . |
What Is A Graded Benefit Whole Life Insurance? | Graded whole life policies are designed to allow a person who would otherwise be turned for traditional whole life insurance due to existising health conditions to purchase a whole life policy . They are usually offered and purchased as a small final expense policy . Because the policy is graded you wo n't receive full benefits for the first couple years . Benefits are limited to the premiums paid in plus and interest factor that is determined by the insurance company and this can vary depending on the insurance provider . Once a policy holder is past the first two to three years full benefits would be paid to the beneficiary . | Part B of your auto insurance is the medical payments coverage . Typically , the amount of coverage is between $ 1,000 and $ 25,000 and it pays covered expenses -LRB- medical , of course -RRB- to yourself and family members . The cost tends to be minimal so increasing your limits should not greatly impact your premium . Other occupants of the vehicle can also be covered and benefits are paid regardless of fault . |
How To Find A Life Insurance Policy After Death? | If you are looking for the life insurance policy of a relative or friend after they have died , the first place to look will be where they keep their legal documents . Ask their bank if they have a lock box , if you ca n't find that type of paperwork in their home . If the policy is not there , you can ask a local insurance agency or inquire of others to determine if the deceased person mentioned a policy to them . If all else fails , the policy may show up as unclaimed property in a couple of years . | Depends on the age of the child . I like to show clients limited pay whole life for children . Meaning it 's not pay premiums for lifetime . 20 pay means that the premiums are payable for 20 years and then the policy is `` paid up '' . 10 Pay is the same except it 's paid up in 10 years . They can keep the policy or surrender it for cash once it 's transferred to the child 's name . I do many $ 25,000 20 pay plans for 1 and 2 year olds . Usually it 's the grand parents buying them . The premium for that is from $ 15 to $ 18/mo . depending on male or female . About twice that is you gow ith 10 pay . I do n't care for child riders but they are better than no coverage . |
How To Find A Life Insurance Policy After Death? | Any person in order to obtain life insurance must be for one actually alive . Also the individual must be in their right mind so the individual can answer a series of questions and sign a policy . Also in most cases an individual will undergo a health examination depending on the carrier and amount of coverage 's desired . | You can expect to pay an affordable amount for your car insurance ... if you shop the right way ! An experienced broker can provide detailed rate quote information from top-rated companies , so you can view the best prices . Whether you have a great driving record or a few tickets , getting free quoting help will save you money . LIVE answer provided by : Ed Harris - Premier car insurance broker for more than 30 years and owner of several nationally-rated websites that offer the best available rates . |
Does Life Insurance Pay For Accidental Overdose? | Yes , if however the overdose is an illegal drug and you die within the first two years , there may be a problem . Every Life app has a question regarding illegal drug use . If you answer no to that question and die of an illegal drug overdose within two years , there is a contestable clause . The insurance company will likely investigate to see if you failed to answer that question accurately . If they determine that you lied on the application they do not have to pay the claim , they will simply refund any premiums paid . | You Can Take out Life Insurance on an Employee if there is insurable interest and with their acknowledgment via their signature as the policy insured . Many business owners purchase life insurance on their key personnel or business partners . Some businesses use life insurance in deferred compensation plans to fund executive compensation . |
Does Life Insurance Pay For Accidental Overdose? | does life insurance payout for accidental overdose ? After two years -LRB- one year in some states -RRB- without question `` YES '' . Prior to that , during the contestability period , an insurance carrier has the right to research the insureds drug history to see if compares to what has been stated on the application . If their is a history of drug abuse and overdosing in the prior history of the insured , the claim will be contested . If there is no history , no recorded history , the claim will most likely be paid . | Whole-Life Insurance is the type of insurance you buy if you want to pay a level premium that is fully guaranteed and have lifelong coverage . You can pay the premium over your entire lifetime or you can choose to pay it in full over 10-years , 20-years or paid up at age 65 . You can even pay one large premium and be paid up for life . |