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Is Universal Life Insurance Taxable? | That is a great question ! One of the selling points that your agent will give you when selling you this type of policy is the great cash growth that it can accrue . Managed correctly , it can do that . When you pass , the death benefit is passed tax free . If you borrow from the cash reserves in the policy , those loans are also tax free . If you surrender the policy , -LRB- or `` cash out '' -RRB- then all of that growth in excess of what you paid into it is taxable . And if your policy did well , that can be a big tax bite . Check with your agent before you take any action , as even borrowing can have a big impact on your policy 's viability , okay ? Thanks for asking ! | Medicare will not contact you but about 6 months before you turn 65 you will receive a `` Welcome to Medicare '' kit . Included in your package is your Medicare card , general information on Medicare and your Medicare and You handbook . I suggest you read through all the material , especially the handbook and make copious notes . Then prepare for the deluge of mail and phone calls as you approach age 65 |
Is Universal Life Insurance Taxable? | With Universal Life products , there are taxable events when you take withdrawals against the cash value , when your cash value is in excess of your policy basis . However , if the policy is owned and for the benefit of a person with insurable interest -LRB- business partner , family member or love interest -RRB- proceeds paid are NOT taxable . Death benefit is only taxable when it is investor owned . | Disability insurance covers periods of incapacitation from injuries and sickness , essentially paycheck protection . It can be purchase for short or long periods of disability with elimination periods that fit your cash reserves . |
Does Car Insurance Go By Your Credit Score? | Credit score is just one of many factors that go into the formula that determines your auto insurance premiums . Other factors involved included your age , your driving record , the number of vehicles you are covering , the number of drivers in the household , and whether or not you have more than one policy with the same carrier just to name a few . | Mortgage Lenders require that you show proof of Homeowners ' Insurance because they have an obvious insurable interest in your property . Much the same as auto finance lenders , mortgage companies want to be sure that should anything happen at your home while their loan is in effect , that there will be money available sufficient enough to handle any resulting repair costs . |
Will Medicare Pay For Teeth Implants? | Generally , Medicare will not pay for teeth implants , just as Medicare does not cover fillings , crowns or dentures . Since Medicare will do reconstructive surgery on the jaw , it is possible that a tooth implant might be approved if it is proved to be a necessary part of that particular surgery . | This is called subrogation . If your insurance company paid your loss that was caused by the other party , -LRB- you were not at fault -RRB- and then your insurance company get the money back from the other parties insurance company you do not pay the money back . Your insurance company is simply being reimbursed for the claim they had to pay out when the other party was at fault . What should happen is if you had to pay your deductible then your insurance company should of also collected your deductible as well and should be reimbursing you for the deductible . |
Health Insurance With My Union & Current Employer Overlapped 1 Month. Will Now Need COBRA, But Not Sure How. | Well let 's sort this out a bit . First off you wo n't get in trouble from either company for having dual insurance for 30 days . You might want to go with the plan that has the best cost and coverage for having a baby . I was going to mention this is a qualifying event as per the ACA , but they will not backdate so that 's really out for at least July . You need to get out the scratch pad and pencil out the costs of premiums , deductibles and co-insurance for your family . Your former union plan might be $ 400 a month cheaper in premium , but may leave you with more deductible or co insurance . You will need to pay up through August , since we 're in that month now . Please do n't be slow on this , the clock is ticking and the costs will only get higher the longer it takes you to get the paperwork back . Go through your paperwork from both and see when their drop deadlines are . This is something you should finish no later than this weekend . Good luck and get on it . | Original medicare pays as below . However , if you have a Medicare Advantage Plan or Medicare Supplement , it will pick up some or all of these out-of-pocket costs AND may even offer unlimited hospital stay . Days 1-60 : You pay $ 1156 deductible Days 61-90 : You pay $ 289 per day Days 91-150 : You pay $ 578 per lifetime reserve day * * After 90 days , you get an additional 60 days , which are called Reserve Days . |
When Should An Individual Purchase Life Insurance? | The best time to purchase life insurance is when you are young and healthy : the monthly premium will be low , compared to getting it when you are older . Simply put , the younger and healthier , the better ! Generally , most people start with Term Life Insurance , and convert to a Whole Life or Universal Life . Before purchasing any Life Insurance , talk to your agent ; he/she can best advise you on the best approach to Life Insurance based on you current budget , anticipated needs , and where you are in your life at the time of inquiry . | I agree fully with Ted 's answer above . In my lease it actually has a penalty -LRB- $ 30 -RRB- for every month you do not show proof of insurance ! As an agent that deals with many Renters , I urge them to get coverage because I have seen what happens without it . I had a friend lose the stone in their engagement ring 3 weeks after they got it and they had no coverage ! |
When Should An Individual Purchase Life Insurance? | It 's a lot cheaper to buy when you 're young and healthy than when you 're 60 and have had a heart attack , are diabetic , or have had some other condition that will cause your risk class to be less favorable , which equals higher premiums . The rates will be a lot higher on age alone too - buying $ 1,000,000 of life insurance at 35 and $ 1,000,000 of life insurance at 65 are going to produce very different premiums , regardless of health . Remember though , there has to be a purpose for the benefits and they have to be suitable to you as well . A carrier may not want to approve a policy for you if you 're getting it just cause . There 's many situations that will cause a need for life insurance benefits such as getting married , having a child , and estate planning purposes , just to name a few . | That depends on your home 's value , your geographic area , the amount of personal property that you have and other factors . I have seen homeowners policies as low as $ 500/yr and the sky 's the limit on the high end . Contact your local agent to get pricing within your area . A quote cost nothing but a little of your time , but can save you a lifetime of financial burden . |
When Should An Individual Purchase Life Insurance? | Because none of us come with a guarantee there will always be the possibility of final expenses . Insuring young children was quite fashionable not too very long ago . The worst thing that can happen is that the child will have coverage that can not be taken away from them when they become adults , even if they engage in a dangerous occupation or avocation . The premiums on a whole life policy will not increase and will be a bargain compared to the premiums later in life . | Your questions refers to `` different provinces , '' but I would supposed you mean `` different states '' except you reside outside the United States of America . Now back to your question , Auto Insurance Rates are influenced by several factors in different states or localities . Among them is claims experience in that state or locality . If you are a single male aged 20 and live in lets say New York city and lets say 500,000 vehicles were involved in some sort of collision , theft or vandalism in 2014 and your college friend lives in some city in West Virginia where all you see is farm land and few cars . Total number of vehicles involved in any collision , theft or vandalism are 500 in 2014 . Then question that is posed is what is the probability of your vehicle being in a collision in West Virginia ? The answer is very low and as a result you pay low premium as compared to your friend who lives in New York . Insurance is all about probability . |
Should I Get Mortgage Disability Insurance? | I am not a big proponent of mortgage disability insurance . It is just too limiting . The only reason to purchase mortgage disability insurance would be a guaranteed issue policy because you are uninsurable . Otherwise just purchase short and/or long term disability insurance and use the proceeds however you want . Benefits can be used to pay mortgage , medical , utilities or anything you choose . The cost is not much different for the same waiting periods and benefits . | Medicare Part A , in short , is your hospital insurance - Part B is your physician insurance . Part A provides benefits for your inpatient hospital stay , skilled nursing facility care , nursing home care , hospice care , and certain home health services . The benefit that is the most common claim is for hospital stays . During a hospital stay , your Part A will cover certain hospital services and supplies including semi-private rooms , meals , general nursing , and medications given during your stay . Acceptable hospital stays can include critical access hospitals , inpatient rehab facilities , LTC hospitals , acute care hospitals , and mental health care - you may want to confirm with Medicare whether a certain inpatient stay would be covered by a facility that is not a traditional hospital . You 're generally responsible for about 20 % of the healthcare expenses that are incurred during these visits - Medicare only covers approximately 80 % of the costs . You may want to consider buying a Medicare supplement plan -LRB- a.k.a. Medigap plan -RRB- to cover the other 20 % . |
When To Cash Out Whole Life Insurance? | The policy owner can choose to end life insurance coverage at any time if he/she does not need it for does not wish to continue to pay premiums . If it is term , the coverage ends and premiums stop . If it is permanent , coverage ends , premiums stop and any cash surrender value is paid to the policy owner . | Servicemans Group Life Insurance -LRB- SGLI -RRB- is a federal program . It replaced a program instituted during World War II that proved to be one of the best benefits servicemen could have . SGLI is available to all service personnel but ceases when they leave active duty . Veterans group Life insurance -LRB- VGLI -RRB- is a similar , however , more costly program for servicemen who have left active duty . |
How Many People Have Renters Insurance? | The desire to have Renters Insurance is one that varies in different geographic areas ; the decision to purchase Renters Insurance is either due to sense of responsibility , the requirement by the Landlord or both ! Renters Insurance is a very valuable and inexpensive option to cover the tenant fromthe results of a Negligent Act ; this would be covered by the Personal Liability section of the policy , this part is also not subject to the deductible on the policy . In addition to the Personal Liability section , thepolicy will offer protection for Personal Contents against a number of perils including Fire , Theft , Water Damage and a number of additional perils listed on the specific policy . Coverage forms vary from State to State . There is an online method to obtain a quote and purchase renters insurance online directly in multiple States ; the following linkwill be very helpful : WEBSITELINK It is our recommendation to select the highest available Liability Limit , the sufficient amount of Personal Property and a high deductible ; these selections will produce ample coverage with a low premium rate . For additional questions and/or assistance not available on the automated process , we recommend contacting a licensed professional for guidance . | Republicans are overwhelmingly in favor of protecting Medicare and ensuring it is available for many additional generations . And Democrats feel the same way . Republicans seem more willing to accept the belief that Medicare needs to be tweaked in order to maintaincontinuousand effective coverage in the future . Their view on Medicare Advantage plans also seems to be different than many of their counterparts . But in fairness , bothpartiesseemcommittedto saving Medicare benefits for everyone 's future . Their methods are a bit different , but there is still plenty of common ground that should allow both parties to effectively work together . |
Does Renters Insurance Cover Tornado? | Renter 's insurance does cover damages caused by a tornado or high winds . Your personal property will be covered up to the specified limits on your policy . You may also have replacement cost coverage which will replace your items lost brand new -LRB- subject to limitations -RRB- . Typically , renter 's insurance rates are low . | Long Term Care Insurance makes sense when you have assets that you had hoped to leave to your family , or so that your business could be continued , or for which you had other intentions . Long Term care insurance makes sense if you have a strong desire to make your own choices for your care . In addition to these , it makes sense if you have enough income to pay for it without taking away your quality of life . |
Does Renters Insurance Cover Tornado? | Yes , your personal property would be covered if it incurred tornado or wind damage . If you live in a tornado prone area I recommend keeping receipts , pictures and an inventory of your personal property somewhere off location , perhaps a friend or relatives house . That way if you incur a total loss you will be able to prove what belongings you had and it refreshes your memory when filing your claim . | The best time to get life insurance is while you are young and healthy , because the rates are lowest then . However , many people do not think of buying life insurance until they get older , and see that they were not able to save up what they thought they would . Or when they are diagnosed with an illness , and faced with their own mortality . The cost will be higher at an older age , but your years for needing the policy will be shorter . And if you have a controlled health condition , you may still find some reasonable rates . Age and poor health do not eliminate the need for life insurance , and there are policies available to almost everyone . |
How Much Is Life Insurance For A Month? | The cost of life insurance is depend on whether you purchase term or permanent life insurance and a battery of variables like gender , age , smoking status , health history , current medical condition . It also incorporates your motor vehicle violations , your vocation or recreational to determine if theyre hazardous . A nonsmoking super preferred male with $ 100,000 of coverage on a ten year term life insurance policy may pay $ 10 - $ 12 if the company allows monthly payments at that level . | Conventional wisdom is no later than age 50 when the potential morbidity events begin to increase and at age 62 for price considerations . Establishing a long term care insurance policy is part of defensive retirement planning and should be a high priority based on life expectancy and the average cost fo extended care during your senior years . |
Can I Pay Long-Term Care Insurance With Hsa? | Health Savings Accounts -LRB- HSAs -RRB- are used with those enrolled in high deductible health plans to pay medical expenses . Referring to eligible medical expenses in IRS Publication 502 , `` You can include in medical expenses amounts paid for qualified long-term care services and premiums paid for qualified long-term care insurance contracts . '' | Cheap car insurance rates for an 18-year old -LRB- and other teenagers -RRB- can only be found by shopping the right way . There are dozens of carrier that offer coverage , and for a young driver , prices could vary by as much as 80 % . An experienced -LRB- preferably 20 years in the business -RRB- broker -LRB- and our websites -RRB- guide you through the shopping process by helping select the companies with the best offers . And yes , if your grades are good , you 'll save money ! |
Can I Get Life Insurance If I Have Kidney Disease? | To add to both I would suggest by passing the underwriting all together and go for a Group Policy that I offer to individuals through a membership . You must be working 30 hours or more per week , and live in the USA and it is available in all but 4 states . You can have up to $ 100,000 and it is only graded for one year and to give you an idea of the cost for a 49 year old it would be $ 88.55 per month for $ 100,000 in coverage . Contact me for more information . | Life Insurance can be a highly rewarding and profitable career . That being said it can also be frustrating . It takes a lot of hard work and long hours to get started . You have to be willing to show people how to solve problems that life insurance can help them with . You have to understand that a life insurance career is a marathon , not a sprint . It takes time , money , and a willingness to learn . You have to like people and be willing to put their interests first . Life insurance is a great career for the right person . |
Can I Get Life Insurance If I Have Kidney Disease? | Can you get life insurance with Kidney Disease ? Well what kind of kidney disease is it ? How long have you had it ? How is it treated ? and so on ... You need to find an agent who can take your information -LRB- much more information is needed before a real quote can be generated -RRB- and submit it for pre underwriting review . This usually takes 2 or 3 weeks , but gives you a great idea of cost and availability of plans for you . You should not be obligated to buy , but you should be willing to provide the information for an honest review . You might not get back what you want to hear , but it will be an honest answer to your situation . | Whole Life Insurance is n't bad , but it may not be the most economical way to protect your beneficiaries . If the financial need is temporary then term life insurance with a conversation provision is the way to go . If the financial need is permanent , then guaranteed universal life is generally cheaper . However for tax advantaged income , participating whole life with a maximum term and paid up addition riders , could provide retirement income for a long haul conservative profile saver . |
Can I Get Life Insurance If I Have Kidney Disease? | Yes , you can get life insurance if you have kidney disease , but the type of policy you get will depend on what stage of kidney disease you have . If it is over stage 1 , you most likely will need to get a simplified issue or guaranteed issue policy , which will have a limit on the face amount . | You should purchase Long Term Care Insurance when you can still qualify for it . The underwriting is stricter , in some ways , than Life Insurance , so it is best to buy your policy before age related health conditions start to creep up on you . Also , rates are lower when you purchase your policy before age 60 . |
Can I Get Life Insurance If I Have Kidney Disease? | Adding to Peggy , s answer , you should be given a questionnaire specifically asking about the kidney disease . The more information you provide , the more accurate a quote can be given . The questionnaire will be passed onto the underwriter of the company you wish to apply . Request this to be passed onto several companies as some companies work better with individuals who have a medical background . | An annuity , like a life insurance policy , is a contract . Additionally only life insurance companies can issue annuities . This sometimes becomes a confusing issue . Many people invest in annuities at their local bank . It is important to understand that the person in the bank is acting as an agent for the insurance company . The bank itself is not a party to the contract , only yourself and the insurance company . It 's critical that you not be under the impression that the bank is providing any financial security to your investment , they are not . There is also sometimes confusion with 403 -LRB- b -RRB- plans . 403 -LRB- b -RRB- plans are retirement savings vehicles available to many teachers , hospital workers and certain government agencies . When they were first developed the funding vehicle had to be an annuity , and they took on the moniker of TSA -LRB- Tax Sheltered Annuity -RRB- . Today a 403 -LRB- b -RRB- may use a variety of investment vehicles , usually mutual funds or managed money accounts . However many people still use the words TSA , annuity and 403 -LRB- b -RRB- interchangeably . This is technically incorrect and causes a lot of confusion with investors . |
What Is A Qualified Life Insurance Plan? | Qualified plans are a sanctioned government retirement plan with tax deductible contributions , tax deferred accumulation and taxable distribution including basis . An example of this would be the ERISA -LRB- The Employee Retirement Income Security Act of 1974 . -RRB- Some plans allow employers to match employee contributions . There are several qualified plans available for individuals as well as employer sponsored like 401 -LRB- k -RRB- s , 403 -LRB- b -RRB- s , 412 -LRB- e -RRB- , SEP IRAs , IRAs , etc. . | There is Medicare Part B and Medicare Supplement Plan B. Medicare Part B is provided by the Federal government . Medicare Supplement Plan B is offered by insurance companies . Part B of Medicare covers doctor office and outpatient visits . Medicare Supplement Plan B provides coverage for some of the cost Medicare does not pay for when you to the doctor or hospital -LRB- deductibles , co -- insurance and co-pays . |
Why Is Home Insurance Mandatory? | Homeowners insurance is mandatory because the house is thecollateral on the debt that you owe the lender . If you did n't pay your mortgage then the bank has the right to foreclose on your property and sell it to recoup the money that they lent you . The lender protects their collateral by being listed on your homeowner policy as `` Loss Payee '' . -LRB- The one paid when a loss happens -RRB- . If their collateral -LRB- your home -RRB- burns up in a fire , and then someone stops paying their mortgage , they would have no asset and no mortgage payments coming in . Item of note : If you decide that you do n't want to have homeowners coverage on the home , the lender can add insurance -LRB- that only protects their interest in the home -RRB- and make you , the homeowner/mortgagee , pay for it on top of their mortgage payment . It is one of the many clauses that you initialed when you signed your mortgage agreement . | Health insurance can only cover yourself and immediate family members such as spouse and children . Unless your brother is a legal dependent residing in your household , he would have to have his own plan . This would be very unusual and the company would require documentation . You can choose to help him pay his premium if affordability is an issue . |
Can You Get Disability Insurance After Age 65? | Most tradition disability contracts end at age 65 . However , the are specialty insurance companies that offer niche products to those over age 65 . The most notable is Lloyd 's of London . Lloyd 's has been indemnifying all types risk for over 300 years in the early days of English merchant ships . | Yes . The maturity date is specified in the policy and is the date the life insurance coverage ends . If it is term insurance , the contract will mature with no value paid . If permanent life insurance , the maturity value is the cash surrender value . The trend in recent years at life insurance companies has been to design permanent life insurance products that delay contract maturity past , say , age 100 or even indefinitely with extension of maturity date riders or similar policy provisions . The reason is that policies which mature while the insured is still alive may result in income taxation on the gain in the policy to the policyowner . |
Can I Get Car Insurance With An Out Of State License? | Yes , you probably can , but it would be a good idea to talk to your Insurance Professional about the laws in your new home state . Many states and insurance companies will allow you to obtain car insurance with an out of state license . It will more than likely be required by your new state 's DMV in order to register your cars . However , there will more than likly be a time limit during which time you should obtain a new license in the state you are nor residing . | Erie does not offer health insurance . They only offer auto , home , and life insurance . Erie is a great company based in the Northeast US.Erie does not domuch advertising which helps thererates to there insured . Look to them for auto , home or life insurance but that 's about it . |
Can I Get Car Insurance With An Out Of State License? | Yes you can obtain auto insurance with an out of state license . Ultimately you will have to change the license if you are going to reside in a different state then you are licensed in but this does not stop you from obtaining insurance . Call a local independent agent for assistance . | Think of a contingent -LRB- beneficiary or owner -RRB- as a backup to your primary policy beneficiary or owner . At the time of application , you general assign the beneficiary or beneficiaries as the primary persons that would suffer economic loss at your demise . But what would happen if the beneficiaries also perished with the insured , then the contingency or back up beneficiaries would be next in line for the death benefit proceeds . |
How To Claim Critical Illness Insurance? | Filing a claim for Critical Illness Insurance should be a relatively simple process although every company that offers Critical Illness Ins . will have a specific form that will need to be filed . That form will include the reason for the claim , when it occurred , the place and additional detail . A qualified doctor will need to certify the diagnosis as well . For example : a first diagnosis heart attach . Was the muscle damaged -LRB- the definition of a heart attack -RRB- , what percentage of damage , what part of the heart . Once verified , the benefit in the form of a check will be cut . Depending on the policy , the coverage/policy may drop at that point . There is one company which will continue coverage for the other conditions so do your homework before purchasing such a policy . | Medicare supplement plans -LRB- commonly referred to as Medigap plans -RRB- are designed to help seniors who want high quality healthcare and are on Medicare , cover the gap between what hospitals and doctors charge for their services and what Medicare will pay.Health insurance is constantly changing , which can make finding the right plan for you very strenuous.Supplementing your Original Medicare coverage -LRB- Medicare Parts A & B -RRB- with a Medicare Supplement plan will help you create a very predictable expense structure for your healthcare and allow you to see any doctor you want that accepts Medicare . Any doctor that accepts Medicare will also accept your Medicare Supplement plan . There are 10 different Medicare supplement plans and they are all standardized , meaning a plan F from company A and a plan F from company B feature the EXACT the same benefits . The 10 different plans available are plansA , B , C , D , F , G , K , L , M , and N. Each plan offers certain benefits some more comprehensive than others . For example , Plan A offers coverage of only the basic benefits of Medicare Supplement Insurance , while Plan F is the most comprehensive . Plan F also offers a high-deductible version of the plan it is the only plan that offers this feature . Under a high-deductible plan F -LRB- also referred to as Hi-F -RRB- , the insured must pay for Medicare-covered costs up to the years deductible amount $ 2,140 in 2014 before the supplement plan pays anything . The benefit of the high-deductible plan F is that it offers the insured a much lower monthly premium . |
Is Medicare Public Or Private? | That is a great question ! I guess the best way to answer it is you say pota-toe , they say pota-tah . Technically , Medicare is public , because it is administered by the Federal Government . But ... they use private insurers to run it . The best way to describe it is that it 's like the way your employer runs their insurance program - it 's public , because it 's offered to all employees and they pay for some of it , but the plans are offered through a private insurance company . The confusion for the public vs. private debate was an attempt by debating politicians to generate confusion , and make things difficult . Since that seems to be what we pay them to do , they were just really doing a good job ! I hope that this helps a little at simplifying the answer for you . If you would like to try to clear this up a little more , please feel free to contact me , I love a challenge ! -LRB- And who better to challenge us than a bunch of politicians ? -RRB- Thanks for asking ! | If you have Comprehensive -LRB- or Other Than Collision -RRB- coverage on your automobile , the windshield should be covered . It would be subject to your deductible but depending on the cost of the winddshield ... it may be less than your deductible . Some companies will WAIVE the deductible if the windshield can be repaired . Check with your agent to see if your company will waive the deductible , then check with a local auto glass shop -LRB- Windshield Medic , Dr Glass , or the like -RRB- to see if the windshield could be repaired . They can normally fix `` stars '' upto about the size of a quarter -LRB- $ 0.25 piece -RRB- or cracks upto the length of a dollar bill . |
Does HPV Affect Life Insurance Rates? | HPV does not affect life insurance rates as long as the proper testing has been done bycolcoscopy and the last PAP smear was normal . HPV normally goes away within 24 months , so you may just need to wait a while to get the very best rates . In the meantime , you can certainly get life insurance , even if paying a bit more . | The pros of owning an annuity are significant in a high tax bracket where their tax deferral is a major component to accumulating cash values . Many times the annuity rate is higher than most banks and money markets . And if annuitized annuities can generate life time income you cant outlive . The cons of owning an annuity can be significant . Liquidity is a concern . In general the longer the hold position the higher the surrender charge . Fixed interest rates that lock down long positions like the present 3.25 % for ten years could be too long if rates go up over the next decade . Todays five year rate is 2.95 % . Is the extra 35 basis points worth it for double the time period ? |
How Much Does Medicare Cover For Mri? | Generally speaking , Medicare covers 80 percent of any service that is deemed `` medically necessary '' by your doctor or hospital . If you just have Medicare Part A and Medicare Part B you will be responsible for the $ 147.00 Part B deductible and the 20 % co-insurance , if your MRI is done outpatient . If you have a Medicare Advantage plan the amount you are responsible for could be much less . The same is true if you have a Medicare Supplement/Medigap plan . You can contact us to get more detailed information . | Comprehensive coverage covers rock chips , deer . vandals , Trees , Theft , and Hail , Along with other things that are similar minus your deductible . Each carrier has it 's own guidelines as to what it will cover but those are the basic description of coverage . Basically anything that is not caused by you . Here in Montana they have started a new coverage that is simply deer coverage They will pay up to a $ 1000 worth of damage with no deductible with Liability only . Sometime this is a better coverage for those older cars and most claims in our state are caused due to deer . Also Some carriers rock chips are free to repair and the deductible would not apply . Talk to a local agent and seewhat works best for you |
Why Are Fixed Index Annuities Bad? | The history of fixed annuity rates generally outperform bank certificates of deposit and unlike certificates of deposits , accumulate tax deferred . Tax deferred annuities are for conservative investors looking for better crediting interest rates and/or have high tax brackets . Others like the option at distributions to take lifetime income you ca n't outlive . | Uber drivers must be fully insured when operating a vehicle in all states . When you are working for Uber , their auto insurance policy will provide coverage . However , when their app is not in use , your own personal policy is utilized . Regardless of which state you reside , you must meet all of the minimum liability and financial responsibility requirements . Both fault and no-fault states are included . For example , in Ohio , the Buckeye State 's minimum liability requirement is $ 25,000 per person , $ 50,000 per accident , and an additional $ 25,000 of property damage . Typically , financed and leased vehicles must carry collision and comprehensive benefits . Important : Answer was provided by Edward Harris , one of the nation 's leading car insurance brokers with more than 35 years of expert and unbiased experience . His top-rated website , Carinsurancezoom.org provides consumers with free online quotes and the lowest auto insurance rates from top-rated companies . |
Why Are Fixed Index Annuities Bad? | They arent . A fixed annuity is merely a plan that has been developed . It might be perfect for your situation or might not fit at all . There isnt any investment risk in a fixed annuity . That suits many . There is an inflation risk which could concern some ; however , that hasnt been a big issue recently . The benefit is that the earnings of the annuity are tax deferred which allows them to grow faster than if you were paying taxes on the earnings . Ultimately , they can provide you with a guaranteed income that you can not outlive . | Absolutely ! Critical illness insurance is paid in lump sum payments from anywhere between 10 and 500 thousand dollars . While most medical plans cover hospital and medical expenses , it does not cover things such as medical co-pays , transportation to treatment centers , bills , etc. . The lump sum payment allows a person to use the money where its needed most , whether its for medical bills or regular bills . About 20 major illnesses are covered and its perfect for high-risk jobs , non-working spouses and the self-employed -LRB- all people who might have a hard time getting disability insurance -RRB- . |
Does Health Insurance Cover Shingles Vaccine? | In Virginia Shingles vaccinations are covered by Medicare Part D Rx coverage , with or without a copay depending on the plan . For those on an employer group plan or individual plans , some carriers will cover the immunization under Preventive Care with a minimum age limit -- starting at 50 in some cases , 60-65 in others . You should check with your insurance company or benefits manager . Benefits under Preventive Care are provided with no copay or coinsurance . | Medicare is a federal run program . To qualify you must have worked and paid into the system , be 65 or older or have certain disabilities . Usually you will automatically be enrolled when you are eligible , however if you think you qualify call your local Social Security office or 1-800-MEDICARE . Do not confuse Medicare with Medicaid , which is a combined Federal and State program for people with low income and assets . |
Does Health Insurance Cover Shingles Vaccine? | Yes . In fact , under the preventive care requirements of the Affordable Care Act -LRB- ObamaCare -RRB- vaccination against Herpes Zoster -LRB- the fancy name for shingles -RRB- is required to be covered at 100 % . So , unless you are covered under some old , grandfathered health plan -LRB- of which there are n't a whole lot left -RRB- that excluded coverage for this vaccination you should be good to go . But any newer health insurance plan that is compliant with the Affordable Care Act since its passage in 2010 should cover this vaccination . While my focus is on the under age-65 health insurance marketplace , my understanding is that Medicare coverage for this vaccination may be a different proposition . So , if the questioner is in the Medicare arena you will want to inquire further about this issue . | Homeowners Insurance ca n't be bought on line that I am aware of . You may be able to get a quote on line but there are many coverage 's that need to be addressed . Especially as it pertains to replacement cost of a property and actual insure-ability that would not allow a non licensed agent to just purchase . Your best option is to call a local independent agent that knows the area and works with multiple insurance companies to get you the best coverage 's at the most affordable premiums . |
Is IVIG Covered Under Medicare? | Medicare does cover IVIG -LRB- Intravenous Immune Globulin -RRB- under Medicare Part B. However , while Part B will pay for the IVIG itself , it does not pay for other items and services related to the persons getting the IVIG in their homes , thus making the cost prohibitive for many patients . However , the IVIG Access Act signed into law in Jan of 2013 allows for all the costs of IVIG to be covered by Medicare within one year of signing . | Permanent Life insurance makes a lot of sense actually as part of your financial plan . There are needs for term or temporary insurance as well . Some insurance agents will tell you that Permanent Insurance is a `` rip off '' , and is n't needed but this is n't true . Each of us need to determine how much insurance and what type we need . Permanent or Traditional Whole life coverage will cover needs such as : Last expense Benefit for funeral costs and unpaid medical bills when you pass away . Estate Taxes for those of us with large estates . Business Continuation Insurance To Fund Buy and Sell Insurance for Business Partnerships -LRB- Term insurance can be used also -RRB- Term or Temporary Coverage is appropriate for needs like : Mortgage Protection to payoff your mortgage in the event of your premature death . Income for your surviving spouse and family , to adjust for life without your income . Money to either pay or partially pay for College education for your children . As a financial planner , I generally recommend a combination of both types of coverage for my clients |
Can Health Insurance Premiums Be Paid With An HSA Account? | Health Insurance Premiums generally can not be paid for with funds from a HSA . The situations where Health Insurance premiums can be paid by a qualified distributions from a HSA is when an individual is over age 65 and paying for Medicare , when an individual is being covered by COBRA health care continuation coverage , and health care coverage while an individual is recieving unemployment compensation . That being said , one should try to avoid using their HSA for such purposes unless absolutely necessary . Your HSA is earning compound interest on the funds in your account , and at age 65 you will be able to start recieving distributions from the account in almost the exact manner as if it were an IRA . Given the benefits of having a duel health care expense/retirement fund that has a `` healthy '' ballance , one should try to minimize unnecessary distributions . | Yes , a life insurance company can get medical records if the underwriter feels it is necessary to review your records in order to determine whether you can be approved for coverage . Even some No Exam companies will order medical records . You give consent to this by signing the HIPAA form in your life insurance application , and these records can not be reviewed by anyone else . |
Is It Bad To File A Homeowners Insurance Claim? | You buy home owners insurance for a reason to protect you from a catastrophe . That being said , after filing a claim on your home owners insurance policy , they may raise your rates or even decide that they -LRB- the carrier -RRB- no longer want the risk . Personally I would cover out of pocket stuff like some shingles blowing off , or minor stuff , that way there is n't any frivolous claims that you may end up paying for in the future . | That is a great question ! I will start off my answer with the full disclosure that I am not a fan of , nor do I recommend , UL policies . Here 's why : While they do provide an opportunity to earn a substantial death benefit , and offer flexible premiums , those `` advantages '' are often not really advantages . These policies transfer much of the risk from the insurance company to you -LRB- unlike term or whole life policies that have solid guarantees -RRB- , and require that you are aware , and managing the policies performance . These policies are a mix of whole life and term policies , and are typically only guaranteed for a certain number of years -LRB- 20 , usually -RRB- though they can end sooner , or later than that , depending upon the policies investment performance and what you 've paid in premiums . When it comes to protecting my clients ' money and future , I prefer to suggest policies that are guaranteed , and therefore safer . A UL policy may be right for you , or it may be a bit riskier than you would prefer . There are many policies out there , and some have started offering limited guarantees , so please talk with your agent about whatever concerns you may have . And a last bit of advice ? Ask them to show you real numbers on the policies returns , and not the projected estimates in the illustration . I hope that helps , thanks for asking ! |
How Can We Find Out What Insurance Company Insurances My Neighbor's House? | To the best of my knowledge there is not any public availablility of insurance coverages or carriers that a person or company may use for their coverage . About the only way to get that information would be to contact your neighbors and ask them for it . Laws vary from state to state , but many of the laws currently in place prevent insurance agents and carriers from providing any coverage or personal information to anyone but authorized parties . | A non-qualified annuity has a tax liability when the funds are paid out . That applies to the annuitant or to the beneficiary . If the annuity is used in an IRA , the entire proceeds are taxed as ordinary income . If the annuity is used in a Roth IRA , the entire proceeds are received free of income tax . |
Can I combine auto policies with my fiance as "domestic partners" in Florida? | Obviously not sure how every carrier handles this in our State but one of the largest National Carriers in Florida does have a feature that addresses this situation . When a couple lives together in a marital type relationship , they can get the advantage of a married rate . It is not really a discount by definition but can result in paying less premium through the rating process . Also , with regard to the National Carrier Florida auto policy referenced here , the couple does not have to change the vehicle titles names . You need to consult with a local independent insurance agency . They will be able to tell you how this is handled by each carrier they represent . | If you have a policy that includes Comprehensive Physical damage loss coverage , then yes , theft is a covered peril . Remember that the loss settlement will be subject to your deductible so that will be a consideration when filing a claim . You will in most cases be asked to provide a copy of a police report in order to substantiate the claim . |
Is Critical Illness Insurance Worth The Money? | Critical Illness insurance is worth the money , if you consider the peace of mind you receive by having coverage . Premiums are typically very affordable and these types of plans are very popular . A full-time experienced broker can review the best plans with you and determine if purchasing a policy is suitable . | We need disability insurance so that we can continue receiving a paycheck should an illness or disability strike . If you became ill or disabled , how long do you think you could sustain your lifestyle without a paycheck ? For most Americans , the typical answer is about 6 months . We dont think twice about insuring our cars , homes , boats or health , but we forget that our most important asset is our PAYCHECK . Disability insurance is a fancy way of saying paycheck protection . |
What Is Group Disability Income Insurance? | Group Disability Income Insurance is a policy that would pay you cash -LRB- normally about half of your regular salary -RRB- if you were to become disabled as the result of injury or illness . If you are offered Group Disability Income Insurance as a part of your benefit package , it is a valuable benefit that you should take advantage of if you can . | Many Medicare Advantage plans are HMO 's , meaning you are required to stay within a network of doctors to receive coverage . Some plans are HMO Point of Service plans . This means that if you go to a doctor outside of the service are you may still be able to get coverage if you need it provided the doctor agrees to accept the HMO 's terms of service and the procedure is approved by the carrier . Usually if there is a network doctor in the area that can handle that condition the plan will make you go to the network doctor . |
What Does Aflac Cancer Insurance Pay? | What does AFLAC ' c Cancer policy pay ? I can only give you a general idea as each policy pays out different amounts , depending on the level of coverage you purchase . With that said , AFLACs Cancer policies usually pay for : Cancer tests such as Mammographies cervical screening colonoscopies , daily hospital benefit for room and board , some cancer drugs , cancer surgical benefits , anesthesiologist , daily doctor visits while you are in the hospital , blood , plasma , radiation therapy , chemotherapy , reconstruction after surgery , daily visits to the hospital by the patients doctor , benefits for travel to a cancer center including hotel , airfare , gas for your car to get there , ambulance benefits . These are some of the main coverages , but remember that there either annual or lifetime limits as to how much AFLAC will pay , it all depends on your policy . | I would suggest a carrier that has been or is in the Wards top 50 and is rated decently byAM best . Talk to your friends and family and they can advise you about the experiences that they have had with different carriers during their lifetime . Or finally check the consurmer groups that you know of to find out what carriers they back . |
Who Sells The Cheapest Auto Insurance? | There are many carriers out there all can be quite `` Cheap '' But be careful when shopping for rates cheap does n't always mean you have the proper coverage . Also depends on what type of coverage you are looking for . When shopping online there are times that the rate is fantastic then you find out that they are not even allowed to sell insurance in your state . you also have to think about in the event of a claim can they be reached and you talk to someone local ? Buyer beware make you are covered properly like the old saying goes if it is to good to be true then most likely that is the case . However I do have some carries that I have a client in that has full coverage on a car and only $ 143 for 6 months of coverage with low deductible now that is cheap but her coverage is not . So the key is making sure you know what you are purchasing before you put the money out . A Local agent or the States insurance commissioners office can assist you in finding what you are looking for | Liability coverage is always with the towing unit . So if you damage someone else or hit a low hanging sign your liability coverage is going to respond . If you are asking if the trailer itself is covered the answer generally would be only if you buy that coverage form the U haul dealer . |
How To Avoid Paying Medicare Levy? | There are 2 types of Medicare levy 's on the beneficiary that can apply . One is the LEP -LRB- late enrollment penalty -RRB- that applies if you fail to enroll in Medicare on a timely basis . The LEP is 10 % per year . The other is a penalty surcharge tax on high income earners earning over $ 85,000 or couples earning over $ 170,00 | That is a great question ! I 'd love to give you a concrete number , but there are several things that can make a difference . The first is the area where your townhome is located . The costs of rebuilding or repairing homes in your area helps determine the price . So do crime statistics , weather threats , -LRB- hurricanes , flooding , or tornado 's for example -RRB- , and home prices . The premium will also depend upon the amount that you want insured , and the deductible amount you can afford . I 'd recommend that you contact a local agent or agents to give you some accurate quotes to choose from . Thank you for asking ! |
Will Annuity Rates Continue To Fall? | Annuity companies are required to invest the majority of their portfolios in bonds . They do have flexibility to invest in bonds that are rated high or low . If a high-grade bond is AAA rated , it will provide a lower return to the annuity company . If the annuity company is willing to invest in lower rated bonds , the return will be high because of the increased risk . Annuity companies also have the flexibility to invest in bonds with different maturity schedules . This can have an impact on your annuity renewal rate based on when you purchased your annuity and the timing as the bond market moves up and down over time . Annuity rates have recently dropped and while nobody has a crystal ball to know exactly where rates are going , here 's an approach you can think about and see if it addresses your concern . You can use what is called a `` ladder '' approach . Take the total amount of what you intend to put into an annuity and split it into 3 or 4 pieces . Purchase one annuity now with 1/3 or 1/4 of your total amount . Wait one or two years and do the same with the next 1/3 or 1/4 . Using this strategy can be effective during a time when annuity rates will be climbing . Of course , if annuity rates drop , it can work the other way . Remember , you always have the option not to purchase a 2nd or 3rd annuity if the interest rates are not to your liking . Using the laddered approach does leave the question as to what you do with the remaining funds during your `` wait and see '' time . That lost time can be a drawback if you 're just going to let your money sit in a bank CD which typically earns only a fraction of what an annuity can provide . Speak with a qualified retirement income professional that can look at your particular situation and help determine the best course of action for you . | A felon will probably be declined by a life insurance company for a period of time after their release . There are , however , companies that write policies with very limited underwriting and some that issue policies without any underwriting . These policies are more expensive and may have restrictions on the death benefit . They would provide an alternative for a felon . |
Will Annuity Rates Continue To Fall? | The value of annuities is tied to the federal management of the money supply . When the objective of the government is low or no interest , the life insurance companies that write annuities have very little choice because there arent suitable investments available . Incidentally , it is precisely this policy that is creating a dilemma in some pension plans . | If for some reason , your home canot meet the normal standards of insurance companiesdue to their filed underwriting rules , check with your insurance professional to see if there is alternative coverage offered in your state . In CT , for example , we have an assigned risk program called the FAIR plan where homeowners can obtain some protection , though much more limited than from the standard industry . |
Can I Get Life Insurance At 90? | Life insurance is available at age 90 , but it is very expensive and requires moderately good health . There actually are more choices at age 85 -LRB- including some No Exam choices that are available in small face amounts and can be obtained by seniors with controlled health conditions -RRB- . And even more available at age 80 for those who have serious or uncontrolled health problems . | That is a great question ! I have no reason to believe that the insurance company would n't pay out , unless they believed there were some reason reason to believe that there was some untruthfulness involved . For example - you take the policy out in May , and have a `` hunting accident '' while hunting alone here in June . There is a very strong possibility that they will consider this suspicious , and if it is determined that the accident was actually a suicide , you could expect that it would not be paid . If the normal clause in the application refering to dangerous hobbies and occupations was merked as `` no '' by you , and it is determined that your avid lifelong hobby was hunting mountain goats and grizzly bears , I would expect some issues also . But if your demise comes as a result of a misadventure or a companion with less than stellar hunting skills , and it truly is an accident , I would expect that the company would pay as the contract requires . Be safe , and thanks for asking ! |
Is Employer Health Insurance Pre-Tax? | Yes ! In fact , deductions for employer sponsored health insurance is the top tax `` expenditure '' in the tax code , representing more lost tax revenue than deductions for IRA / Pension contributions -LRB- 2nd largest -RRB- and deductions for mortgage interest -LRB- 3rd largest -RRB- ; it costs five times more lost revenue than for deductions for charitable donations . Whether the employer pays 100 % of the health insurance premium or just some of the premium , the employer deducts whatever premiums it pays and the employee does not have to recognize the premiums paid on his or her behalf as taxable income . | Medicare does not cover the zoster vaccine . Zostavax -LRB- the common name for the vaccine -RRB- is for the shingles vaccine shot . Vaccine shots are covered under Part D prescription drug plans . You can use the plan finder tool on the Medicare.gov website to see what plans in your area will cover the vaccine shot . |
Where Is Medicare Advantage Available? | Medicare Advantage plans are available by zip code in every state . More Advantage plans are available in metro area 's vs rural . Medicare rules require Advantage plans to have a large sampling of participating doctors and hospitals in an area before they are allowed to offer plans . If there are few Advantage plans in your area , you should consider Medigap plan N as a cost effective alternative . Plan N also has less out of pocket exposure and the ability to use any doctor anywhere in the country . | Aromatherapy is not covered under most health insurance plans , as it is not considered to be a proven or traditional form of treatment . That said , you may find some alternative carrier providers , such as a chiropractor or mental health professional , that may include the cost of aromatherapy in the normal fees charged for an office visit . |
Does Medicare Cover Upper Endoscopy? | Original Medicare would cover an upper Endoscopy at 80 % of the Medicare allowable amount -LRB- meaning you can only be billed based on the amount Medicare allows for the procedure -RRB- once the Part B deductible of $ 166 has been satisfied for the year . If you have a Medicare supplement , it will cover some or all of the deductible and 20 % based on which sup you have purchased . A Medicare Advantage plan -LRB- Managed Medicare plan -RRB- will have a copay associated with the procedure which varies depending on the company and plan you have . It is usually an Outpatient surgery copay . | Most families are thinking life insuranceis high and expensive , so we really ca n't define highest it depends on risk that the insurer will be taking if the client should pass . For the client the only way to know what is best for you is a financial needs analysis which is formulated to ask questions to put your investments in order . Such as a 401k , IRA , stocks , any income , dividends which could change your tax status so with that said never buy without a consultation . John Cole Virtual Financial Group Recruiter / Manager |
Does Medicare Cover Upper Endoscopy? | If original Medicare is your primary insurance while on Medicare , any procedure that is deemed to be medical necessary is covered . And any Supplemental/Medigap plan coverage wouldpay according to the plans coverage once , Medicare pays there portion . If you have an Advantage Plan for your Medicare coverage , I would recommend that you check with your specific insurance provider to determine what your out of pocket expense would be for any procedure . | Renters insurance will typically provide the insured and the insured 's immediately family residing at the covered premise personal property protection , personal liability protection , and typically loss of use coverage . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . |
Will A Claim Affect My Car Insurance? | There are not any guarentees that a claim will or will not affect you auto insurance rates . The carrier is the one that sets their procedures that determine how a claim will affect your rates . Please contact your local agent or your carrier to discuss the effect that a claim may have on your rates . | How much supplemental life insurance do you need ? Going to depend on what your desires are towards protecting your family in case of your early death . So the answer really is how much do you feel you need ? The question I have would be if you are healthy , why would you go with a supplemental plan when you could qualify for a personal plan that you own and control ? Supplimental life is a great deal if you are of questionable health . Usually there are few questions and minimal underwriting , which means the product has been priced assuming poor health to begin with . Remember more questions means lower price . Fewer questions mean they priced the insurance as if you already answered `` yes '' to the question . |
Can Life Insurance Be Owned By A Trust? | Yes . There are two main life insurance trusts that people use - revocable and irrevocable life insurance trusts . People use life insurance trusts because there are tax advantages that it offers , helps protect the proceeds , and helps you distribute the assets to your children at the least possible cost . An irrevocable life insurance trust -LRB- ILIT -RRB- is a legal document set up to distribute life insurance proceeds in a specific manner , depending on how the trust is designed . ILITs receive special tax consideration from the IRS that is not given to life insurance policies that would otherwise be owned by a natural person or revocable trust . Since the trust is irrevocable , the terms of the trust can not be changed -LRB- think of it like putting the contents in a vault and throwing away the key - it ca n't be opened til the insured dies -RRB- . An ILIT can offer many substantial advantages to protect life insurance proceeds . It can also help you distribute your property to your children at the least possible cost . If you have a taxable estate , you have a choice - pay the tax with your own money or pay only a fraction of the tax and use someone else 's money to pay the rest . If you want to use someone elses money to pay the tax , you can buy a life insurance policy . The type of life insurance policy will depend on the specific circumstances , but is usually a survivorship universal life policy if used for estate tax purposes . The life insurance policy may be secured for pennies on each dollar of tax that you owe . By putting the life insurance policy in an irrevocable trust , the proceeds become available to pay taxes due upon death . A life insurance policy that you purchase will require the same premium whether you put the policy in the trust or keep it outside of the trust . If you put the policy in the trust , the death benefit is not included in the calculation of the size of the estate . This is a huge tax savings , especially if the proceeds are several million dollars . If you keep the policy outside of the trust , the proceeds will be included in calculating the size of the estate potentially increasing the size of the estate by a big margin , and you may therefore have to pay much higher estate taxes before any of the property can be distributed to your children or other beneficiaries . Please let me know if I can be of further assistance . Thanks very much . | Employers purchase group life insurance as an employee benefit for usually no cost to the employee . The face amount is usually under $ 50,000 and varies by employee level , i.e. labor versus management . The employee can then add to the face amount by paying additional premiums usually deducted from their pay . This is a nice benefit , however I caution not to rely on it solely . This life insurance is lost at the lose of the job whether voluntary or involuntary . Always purchase your own life insurance to protect your insurability and use employee group coverage as supplemental . |
Can Life Insurance Be Owned By A Trust? | Sure can . Youve got some good information from the other folks posting on your question . In addition , get a hold of a good estate planning attorney , and he/she will tell you everything else you need to know . Now let me tell you why I wish no one would ever have to use a trust ! I personally have a huge problem with the estate tax . I really think the government has no right to seize a significant part of a familys wealth . It is not their job to cut rich people down to size and redistribute their wealth . Such a practice is not only unfair to the people who have achieved fame and fortune . It also deprives others of the ambition and incentive to do the same . The idea that there is a fixed amount of money to be made , and opportunities to be pursued , is blatantly wrong . The world could and should sustain millions and millions of people making it big . It is up to human ingenuity and creativity to find ways to do it . Government regulation of wealth restrains his growth . It holds us back . So yes : people with an estate tax exposure should definitely get a trust and preserve as much of their estate as possible for the next generation . Hopefully the day will come soon when nobody has this unnecessary liability . And by the way : I am taking this position as a person who sells a lot of life insurance for estate preservation . I would gladly forgo those sales in favor of a justifiable tax policy . I could still make a lot of money selling life insurance to protect the widows and orphans ; to help business owners get bank loans and fund buy-sell agreements ; and to set up policies on their kids . | The best home insurance policy is the one that covers your home at the time of a loss . The very best is the policy that provides the maximum recovery at that time . These policies are sold by insurance agents . If you dont have an agent , ask friends , colleagues or neighbors for recommendation . A good agent will listen to you , provide sound financial advice and communicate clearly with your and the insurance company . Setting the limits on the policy is the most important thing that the agent will do . Make sure the agent knows as much as possible so that the agent can protect you as well as possible . |
Can Life Insurance Be Owned By A Trust? | Yes , a life insurance policy can be owned by a trust . Irrevocable Life Insurance Trusts -LRB- ILIT 's -RRB- are designed to keep life insurance proceeds from being calculated in the value of a large estate , and thus avoid paying estate taxes . The ILIT must be set up at least 3 years before death for tax protection purposes . When an Irrevocable Life Insurance Trust is set up , the person whose estate is being protected can not have any incidences of ownership in the policy . | You can take out life insurance on anyone with whom you have an insurable interest . This can be established simply by being a close family member , in the US . However , financial insurable interest must exist even with these types of relationships , with most life insurance companies . E.g. . An adult child can take out a small policy on an aging parent because of the the emotional loss that would occur upon the death of the parent . But in order to take out a large policy there must usually be financial loss . I.e. . The adult child contributes financially to their parent and are using life insurance to offset that , or their parent contributes financially to them and they would suffer financial loss upon the death of that parent . |
Why Do I Need Medigap? | Only you can decide if you need a Medigap plan . Original Medicare will only cover about 80 % of your approved Medicare Part A and Part B claims . Deductibles , copay 's and coinsurance can leave you owing several thousand dollars in out of pocket expenses . Medigap plans can protect you from having to pay thousands of dollars in out of pocket expenses should you become seriously ill or have a major accident . #GeorgiaMedigapPlanRates #GeorgiaMedicarePlans #GaMedigapQuotes | Life insurance companies make money the same way that car insurance companies make money ... from the premiums you pay . The most simple form of life insurance is term life insurance . If 100 people buy a 20 - year term life insurance policy , they will all pay premiums for 20-years -LRB- less if they cancel early -RRB- but only 1 of them will die during the 20-years . 99 of they will outlive the term . The life insurance companies price each policy based on the likeliness that you would die while the policy is covering you . You do n't have to worry too much about insurance companies . They know the numbers . They make money . |
What Are Tax Annuities? | Non-qualified tax deferred annuities accumulate tax deferred and when distributions are generated the gain in the contract is taxable as ordinary income tax at the effective tax bracket rate of the annuity owner . If the annuity is owned by an artificial entity and not a person the deferral aspect is forfeit and the gain is taxed annually . | Qualified retirement plans can be defined benefit or contribution plan . In a defined contribution plan , the contributions are pretax -LRB- or qualified -RRB- . The accounts accumulate tax deferred and distributions are taxable as ordinary income tax rates . Qualified defined contribution plans , like 401 -LRB- k -RRB- s , are under ERISA -LRB- Employee Retirement Income Security Act of 1974 . -RRB- |
Who Must Purchase Health Insurance? | Under the Affordable Care Act , everyone will have to have health insurance or pay a penalty -LRB- also known as an `` individual shared responsibility payment '' -RRB- . If you choose to pay the penalty instead of securing coverage , you will still be responsible for 100 % of your medical care . The penalty is calculated in one of 2 ways -LRB- you pay whichever is the higher amount -RRB- . In 2014 , the penalties will be calculated as : 1 -RRB- 1 % of your yearly household income featuring a maximum penalty as the national average yearly premium for a bronze plan . 2 -RRB- $ 95 per person for the year -LRB- If under age 18 , then $ 47.50 -RRB- featuring a maximum penalty per family of $ 285 under this method . Its important to note that the penalty will change each year . In 2015 , method one increases to 2 % of your yearly household income and method two increases to $ 325 per person . In 2016 , it will increase again to 2.5 % for method one and $ 695 per person for method two . The penalty methods will be adjusted for inflation in later years . To avoid the penalty , you need to have health insurance that qualifies as minimum essential coverage . Please feel free to contact me for help . Thanks very much . | The actual cash value is defined in your policy . Generally it is the amount necessary to replace the property with materials that are approximately the same is those damaged . This value is set at the time of loss . This is most easily understood if we consider personal property . Consider the effects of fire damage to a couch . The actual cash value of the couch is set at the amount necessary to replace the couch with another couch that is of similar quality and age as the one lost . If the policy has replacement cost coverage for personal property it would replace the couch with one of similar quality but new . Under no circumstances will recovery exceed the values listed in the policy . |
How Much Does State Farm Auto Insurance Cost? | Great Question . While We I can not answer it to the exact cost . It would depends on several facters : type of your car your age your location the type of coverage you like your driving experiance and several other facters The best thing is to call your local insurance broker and him or her shop around for the best price auto policy . | Under the affordable care act , a health insurance company can not deny you coverage for any pre-existing medical condition or other related illness . Please note , you can only apply for a health insurance plan during the annual enrollment period unless you have a qualifying event -LRB- e.g. getting married , having a baby , coming off of group coverage , etc. -RRB- for a special enrollment period . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
Does Renters Insurance Cover Public Storage? | A renters policy normally provides limited coverage for personal property away from the residence . Most policies set the amount of coverage at ten per cent of the covered amount . If you have a renters policy with $ 50,000 of personal property coverage , $ 5,000 of that property could be located away from the residence and still be covered . | No , AARP does not carry Long Term Care insurance at this time . The American Association of Retired Persons does give tips to members on what to look for in long term care coverage and is committed to watching out for its age 50 + members in this area . To obtain Long Term Care quotes there are many online agencies that can assist you . |
Does Medicare Pay For Cataract Surgery In Wisconsin? | Yes , Medicare does pay for cataract surgery in Wisconsin , and it also pays for one pair of glasses following the surgery . This is covered by Medicare Part B , unless the surgery must be done on an inpatient basis for medical reasons . Then it would be covered by Medicare Part A . | Yes , most people can get life insurance if they are bipolar . The things that would cause them to NOT get a medically underwritten policy are a recent hospitalization for bipolar disorder , not having had at least year of stability , or being on Disability specifically for bipolar disorder . However , in those cases there are simplified issue policies that nearly always work . |
Which Is Better Term Or Permanent Life Insurance? | Term or permanent is not a question of which is better . It 's a question of how long is your financial liability and future obligations . If your age 50 or younger and your mortgage will be paid off within 30 years , term life insurance may be better . If your liabilities are ongoing with future needs well into retirement , then permanent life insurance may be better . | Yes , you should take the long term disability insurance . Statistically speaking you are 8 times more likely to become disabled than to die . Almost 90 % of disabilities are due to illness over injury . Be sure this policy covers both . For the vast majority of working Americans , their number one asset is the ability to earn a living . Long term disability insurance covers that asset . |
Which Is Better Term Or Permanent Life Insurance? | Term life insurance is better in situations where you need a lot of coverage for a limited period of time , and want to pay the lowest possible premium . Permanent life insurance is better in situations where you need the policy to last a lifetime , where you want to pay off the policy early , or where you want cash value to borrow from . | With low interest rates beginning to rise and life insurance industry sales flat , there will be a concerted effort to consolidate companies , so acquisitions will dominate the insurance industry for next 5-7 years . Although competition will be reduced by acquisitions , those carriers that remain will force the market to new levels of competition that will play a role in the continuing decline in life premiums accelerated by new frontiers in life expectancy . Look for a new CSO mortality table before 2020 . The tax advantages of life and annuities will continue through 2020 as the industry continues to be the only reliable industry to purchase government debentures . |
Can You Work While On Disability Insurance? | Private Disability Insurance plans vary in their restrictions on working while collecting benefits from the policy . Some will stop insurance payments if you work at all . Others will reduce your benefit proportionate to the amount of time you are working . If your policy covers you for your `` own occupation '' you should be able to work at another occupation and not be penalized , as long as you are unable to work at the job you had when you obtained the policy . However , Disability insurance companies are changing the wording on this so that you can be penalized for working at another occupation ; you must read the fine print closely to know for sure . | Among the many factors typically used to determine homeowner insurance rates , here are a few of the key ones : Type of Construction , Age of Dwelling & Condition of Dwelling - Ex : Is the construction type ` fire resistant ' rather than wood frame ? Has the building been well cared-for ? Claims Submission History - Ex : Does the prospect have a history of submitting claims on a frequent basis ... especially smaller ones ? Dwelling Location - Fire station proximity ; History of frequent and / or severe losses in the area from wild fires , hurricanes , etc. . Credit History - Credit score - Prevailing underwriting theory is that better credit scores equate to less possibility of frequent claim submissions . Additional Risk Factors - Swimming pools , with or without child safety devices ; Questionable types of animals in terms of temperment , as relates to possible attacks on humans ; Recreation equipment on premises - safety devices ? |
Is Whole Life Insurance Expensive? | That is a great question ! I guess you need to define expensive . Depending upon your health , amount of coverage wanted , and your age , it certainly can be , or it can be very affordable . It will generally be more affordable than a term policy will be , but much less expensive should you want that term policy extended . I 'd ask you to talk it over with an agent , and get a good idea of what your budget will allow . Thanks for asking ! | As a general rule Medicare provides 90 days LIFETIME benefit . This means it will cover your costs of a semi-private room and the usual and customary charges such as lab work , drugs , doctor charges , nursing care , for that 90 day period . You may wish to go to WEBSITELINK and type in `` psychotherapy '' into the inquiry screen and you should find all the details . |
Is Whole Life Insurance Expensive? | Whole Life insurance usually -LRB- not always -RRB- costs quite a bit more than Term Life . That is because Whole Life lasts your `` whole life '' , whereas Term insurance will end after a number of years . Whole Life also offers features that are not available with Term Life , such as cash value , the ability to have the policy pay the premiums at some point , etc. . So whether someone feels that Whole Life is expensive depends on whether they feel the permanent nature of the policy , and the extra features , are worth it to them . | Homeowners insurance is mandatory because the house is thecollateral on the debt that you owe the lender . If you did n't pay your mortgage then the bank has the right to foreclose on your property and sell it to recoup the money that they lent you . The lender protects their collateral by being listed on your homeowner policy as `` Loss Payee '' . -LRB- The one paid when a loss happens -RRB- . If their collateral -LRB- your home -RRB- burns up in a fire , and then someone stops paying their mortgage , they would have no asset and no mortgage payments coming in . Item of note : If you decide that you do n't want to have homeowners coverage on the home , the lender can add insurance -LRB- that only protects their interest in the home -RRB- and make you , the homeowner/mortgagee , pay for it on top of their mortgage payment . It is one of the many clauses that you initialed when you signed your mortgage agreement . |
Is Life Insurance Taxable To The Beneficiary In Illinois? | Life insurance proceeds are not taxed . The proceeds are directed to the named beneficiary . This is also a great option for estate planning . Tangible assets depending on how it 's structured , may be taxed . It 's best to meet with a licensed professional to design a program that can eliminate taxes to be paid . Life insurance can offset any taxes to be paid . | A person would not need much life insurance if they are dead . Naturally it is not needed at that time . OK ... Seriously , everyone dies so if there is life insurance on a person , it will eventually be used . In a case where a person has a moderate-sized estate , is very liquid , and there are plenty of available assets upon death , assuming a financial planner agrees , there may not be as big of a need . |
Is Life Insurance Taxable To The Beneficiary In Illinois? | In Illinois , as in every other state , life insurance is not taxable to the beneficiary for income tax . The only portion of life insurance that may be charged income tax is excessive cash value . Estate taxes may need to be paid from the proceeds if there is a very large estate . Otherwise , life insurance proceeds are not usually taxable to the beneficiary in Illinois . | Disability insurance is sold for short term and long term coverage . Most short term coverage policies are 60 month contracts . Long term disability polices generally go to age 65 . There are specialty disability companies that actually extend coverage longer than age 65 . Keep in mind that most Americans also have Social Security Disability Insurance benefits as well . |
Can I Rollover A Roth 401K To A Roth IRA? | I am not a CPA . The character of the program hasnt changed . I am pretty sure that the money can be rolled into a Roth IRA without difficulty . You should understand that rollovers are coming under increasing scrutiny . Make sure that you fully understand the implications of the roll-over . | Oxygen tanks , supplies and concentrators are a covered expense under Medicare Part B. To qualify for coverage you must be diagnosed with COPD , congestive heart failure or other illness that requires you to have oxygen assistance . Your doctor must write a prescription and complete a CMN . Always use a Medicare approved DME supplier that accepts assignment . |
Can I Rollover A Roth 401K To A Roth IRA? | That is an excellent question ! The answer is that you can , but you will need to be very careful . If not done correctly , you become liable for taxes on the entire amount that you transfer . If this is a sizable IRA that you are rolling over , you may see your bracket jump for a year , and pay out a lot of unwanted tax . Please consult with an advisor or tax attorney before making the change , okay ? Thanks for asking ! | If I am reading your post correctly you had a water loss that damaged some of your items . The ones that were not destroyed were also not repaired and just restored in another unit . If this is the case the potential damage in question is from the first claim and not the second and I would suspect that your claim would be denied.If you can show youritems were fully repaired then the second loss is a second event and they may be coverage ifyour policy provides . Water damage from forced wind and storm is a covered peril unless excluded in your area but mold , if covered will have a specific sub limit . I would recommend you find a better storage facility that does not leak . |
Why Is Term Life Insurance The Best? | There are hundreds of term life insurance companies offering term and permanent life insurance . To determine whether term or permanent is best for you , you need to establish a personal financial profile that includes a risk tolerance assessment and your life expectancy . Then you need to determine how long your financial liabilities , future obligations and charitable intention will last . If your under 50 years of age and healthy you can secure up to 30 years of term life insurance coverage . But you may need permanent life insurance if any of those items cited above are ongoing over your life . | So far the changes have been back-end changes . Billing process , coding process , payment changes - which actually has gone up by 3 % . Medicare Advantage plans and Medicare Supplement plans are still going strong , however , some doctors do not want to accept the Advantage plan billing . I would like to hear the doctors side on this . The donut hole has been revised a bit - to the benefit of the enrollee . We shall see what unfolds in the next few years . Belinda |
Why Is Term Life Insurance The Best? | Term Life Insurance can be the best choice in many situations because it is low cost for the amount of coverage you get . If your need for a large amount of protection is for a limited time , Term insurance is temporary , so fills that need well . Term Life Insurance is not always best , though . Sometimes the cost of Permanent rivals that of Term , especially at older ages or when health conditions are present . If you can lock in a Permanent rate a the same or lower price than Term , that is a far better deal for you . Sometimes Permanent Life Insurance is needed for the purpose for which you are purchasing the policy . E.g. . If you are age 60 and buy a 20 year Term policy for your funeral expenses , you could be in trouble if you live past age 80 . | Individual health insurance in Pennsylvania has become very affordable , thanks -LRB- in part -RRB- to recent legislation changes in Pa healthcare . A new federal tax subsidy has become available on State Health Exchange plans and Open Enrollment . Medical questions are no longer asked and premiums for many Pa individuals and families have reduced . Highmark , Aetna , Keystone and Capital Blue Cross are just a few of the best options . Monthly rates could easily range from free to may hundreds of dollars each month , depending on your subsidy , age and other factors . As an experienced Pa broker with a top-rated website , our job is to help consumers navigate the waters of the State Health Exchanges and find the lowest rates for the best coverage . That ensures folks like you that you remain well-informed and continue to get the best rates . |
Can A Whole Life Insurance Policy Premium Be Increased By The Insurer? | Could it be possible that they did not pay back interest on the money they borrowed ? That might be why that amount is owed . You can get an explanation for the premium by calling the life insurance company that your father-in-law 's policy is with . They are usually very helpful about explaining things like that . Or it could be that a mistake was made and then you can report it . | Unfortunately people who havecancer or any condition and no health insurance are responsible for paying out of pocket for treatments , surgeries if necessary and hospital confinement . Try negotiating with your doctors and hospital before during and after treatments to help keep your costs down . Depending on your budget you have a couple of insurance options : 1 -RRB- You could get a more affordableguaranteed issue policy -LRB- fixed indemnity -RRB- immediately . It will not cover cancer realted procedures and treatments but will cover most everything else which will help prevent further health related debt . 2 -RRB- Beginning October 1 , 2013 you can get `` Obamacare '' coverage through your state insurance exchange despite any pre existing condition you may have . |
Which Health Insurance Is Best In South Carolina? | That will depend a lot on the individual 's specific needs and situation . Work with an independent agent that can show you plans from several of the top rated health insurance carriers . If you do that then you will be able to answer that question for yourself and get unbiased advice from the independent agent . It will save you a lot of time and it will help you find the best plan for your needs . | Simply put , your Human Life Value is the amount of income you will be expected to earn in your lifetime . A person earning $ 100,000 per year over a 30 year period , for example , would have an approximate Human Life Value of $ 3,000.000 . So if that person wanted to protect his entire Human Life Value , he would need $ 3,000,000 in life insurance . |
Does Health Insurance Cover Glasses? | Maybe . It will depend on the plan design of the medical coverage . Vision care is usually a supplemental -LRB- extra -RRB- coverage that employers can add to their benefits package . Usually vision plans offer coverage for check ups , lenses and frames . An employer can choose how the benefit will work . For example a 12/24/24 vision plan would provide coverage for check ups every 12 months , lenses and frames every 24 . These options can vary and include deductibles or a copay or none at all . It just depends on how the employer wants the coverage to work . | Most term policies do not have cash value . However , some do . Check with either your agent or the insurance company to determine if there is any cash value available . However , do not surrender any policy if there is any reason to keep it . Life insurance will never be cheaper and your health may make securing another life insurance policy impossible . |
Does Health Insurance Cover Glasses? | Your regular health insurance plan may cover corrective lenses -LRB- glasses , contacts -RRB- in some situations . Cataracts are typically covered by health insurance . Surgical intervention to correct cataracts is normally covered as are the `` special '' eyeglasses that some former cataract patients wear . Other medical conditions of the eye , such as Sjogren 's -LRB- an autoimmune disease that can affect the eye -RRB- may require the individual to wear special eyewear such as goggles to prevent air from hitting the eye and drying it out even further . | Yes , cancer survivors can purchase life insurance again . The longer the time period after your last treatment the better for purchasing insurance . The first two years are the hardest to find coverage . After five years you can purchase with most life insurance carriers with a rated premium , some are still affordable . However , after ten years cancer free most life insurance carriers will issue coverage again standard issue . I personally do not know of any carriers that will ever issue better than standard regardless of how good your health is once you have had a life threatening cancer beyond the ten year waiting period . |
How Much Does It Cost To Have A Baby With No Health Insurance? | The cost of prenatal and delivery will vary greatly by area , level of care needed , etc. . I have several clients in Georgia that have successfully negotiated with the doctor and hospital and set up a prepayment arrangement . A normal vaginal delivery without complications , including prenatal care , can run around $ 8000 to $ 9000 dollars . Add another $ 2000 for scheduled c-section . | Critical illness is not an investment , but insurance , a part of defensive financial planning . Is it worth the premiums to supplement your medical insurance plan ? It depends . Critical illness insurance should be a consideration if your family has genetic predisposition to disease , chronic conditions and/or a history of hospitalization . |
How Much Does It Cost To Have A Baby With No Health Insurance? | The cost of having a baby without health insurance could be as low as five thousand dollars if a mid wife and birthing center are used , and millions of dollars if your baby needs specialized care in a Neonatal Intensive Care Unit . The Affordable Care Act provides benefits for maternity and newborn care , plus hospitalization . Women can purchase a policy while pregnant that covers her preexisting pregnancy with no waiting period , provided she enrolls during the open enrollment period . The open enrollment period for 2014 ends on March 31 . The premiums paid for a policy would be much smaller than funding the costs of having a baby yourself . | No . While most people will enroll in Medicare when they turn 65 , some people can enroll before then . They must meet certain eligibility requirements such as being on social security disability/have end-stage renal disease and have been receiving benefits for 24 continuous months -RRB- . If you 're still working and have group coverage , you can elect to postpone receiving Part B until you 're ready to come off the group plan . When you 're ready to come off the group coverage , you 'll have a special enrollment period to enroll in Part B . If you do n't do it in this window , you will have to wait until the annual general enrollment period -LRB- January 1-March 1 -RRB- - please note , if enrolling during your general enrollment period , you will have a July 1 effective date . Part A is premium-free for most individuals because you 've been paying FICA taxes during your working life -LRB- you need 40 quarters/10 years of working life to qualify for premium-free Part A -RRB- . Part B requires a monthly premium -LRB- $ 104.90 in 2014 - can be higher for individuals in higher income brackets - figure based on your modified adjusted gross income from your tax return from 2 years prior -RRB- . When you first enroll in Part B , you will also trigger a six-month open enrollment period to buy a Medicare supplement plan with NO MEDICAL UNDERWRITING . This is THE BEST time to buy a supplement plan - plan F is the most comprehensive plan . |
How Much Does It Cost To Have A Baby With No Health Insurance? | That is a great question ! In almost every case , the cost of having health insurance will be greatly cheaper than the cost of carrying and delivering a full term baby , especially if the baby has special care needs . It is a much wiser decision to have insurance coverage , and with the Affordable care Act -LRB- Obamacare -RRB- giving help in paying for the insurance if you qualify , -LRB- Go to www.healthcare.gov to see if you qualify -RRB- it is in many cases more affordable than ever . Having insurance coverage may allow you to provide much better care for you , and your baby , than you could afford otherwise . Thank you for asking ! | You can switch your Medicare Advantage plan during the annual open enrollment period that begins in October and runs through December . There are a few other times when Medicare allows you to switch Advantage plans . If your Medicare Advantage carrier goes out of business -LRB- like Universal Healthcare -RRB- you can change to another Advantage plan or return to original Medicare and qualify for a Medicare supplement plan . If you leave your Advantage plan service area is another qualifying event . |
What Is HDHP Health Insurance? | HDHP stands for High Deductible Health Plan . Many companies and individuals have selected these types of plans to help reduce the cost of insurance . The deductible for these types of plans range from $ 2500 up to $ 15,000 . Typically once you reach the set deductible the insurance company picks up the rest of the medical bill . HDHP 's are also qualified plans , which means you could open a Health Savings Account -LRB- HSA -RRB- to help pay for doctors visits and prescription drugs . The savings account grows much like your own personal 401k and has similar tax treatment . These plans are ideal for people who never go to the doctor or who go regularly . Remember , that you will pay everything out of pocket before you reach the deductible . Contact an agent in your state that only handle 's Health Insurance or Employee Benefits for a plan design that works for you . | There are two problems facing most people . Either they die too soon or live too long . Insurance for dying too soon is called life insurance . Insurance for living too long is called an annuity . They use the same data to determine the prices and benefits of policies but resolve two different issues . |
Why Variable Annuities Are Good? | A non-qualified variable annuity accumulates tax deferred with access to the market . High tax bracket individuals could benefit from the tax deferral aspects of variable annuities . A variable annuity is a security and insurance product that needs to be deemed suitable for the buyer before moving forward with the purchase . Once you 've determined your risk tolerance and product suitability you can rank variable annuities by expense loads and policy provisions that best fit your financial goals . You could lose money in variable annuities . Variable annuities have differing embedded policy provisions and additional riders , usually , for an addition price . Expense loads may dictate the value of the variable annuity as does the portfolio of separate sub accounts . Variable annuities have performance records and risk assessments published through Morning Star . | Getting a life insurance claim check usually just takes a week or two after the life insurance company receives what they need to process the claim . This usually requires that you fill out a death claim form , plus send a certified death certificate . Either you or the funeral home can order the death certificate , and it often takes a few weeks to arrive . |
When Can I Use My Medicare? | This is a good question . You can use your Medicare card when it is effective , If you look at your red , white and blue card it will show Part A and Part B effective dates on the card . You can use your card at the doctors office , hospital , etc. if you are on original Medicare , that is , you only have Medicare part A and part B . If you have a Part C plan -LRB- Medicare Advantage -RRB- you will use that card instead . | Finding an existing life insurance policy can be very difficult . You would really need to know the life insurance company name . There is no data base with of the life insurance policies in one place . Once you find the company unless you are the owner , policyholder , insured or beneficiary , the insurance company will not give you any information other than they do hold a policy . I 'm sorry that this is a very difficult time consuming task . |
Does Medicare Cost Money? | Medicare Part A is normally available at no charge to qualifying individuals who are 65 or older . You are required to pay your Part B premium , currently $ 105 in 2013 for most individuals . Higher income beneficiaries will pay a higher premium . Medicare Part D is a drug plan available through private insurers and you will pay a premium for Part D. | I am not an employee of Bank of America but yes just like most banks today they do sell life insurance and annuities . BoA has subsidiary life insurance companies through Merrill Lynch , General Fidelity Life Insurance Company , Meritplan Insurance Company and Newport Insurance Company . Even now some insurance companies now have banks . |
Who Does Disability Insurance Cover? | Disability Insurance covers those who earn an income , or paycheck . Disability Insurance pays the insured person a monthly benefit if the insured person is unable to work due to an illness or injury . Some policies even pay the Insured a partial benefit if unable to return to work full time , or unable to produce as much as before becoming ill or injured . | Why does disability insurance not pay 100 % of your income ? Well , in a way it does . Disability insurance is designed to replace your after tax income . Depending on how you funded your disability insurance and accounted for it tax wise , the benefit can come to you as non income . There is also a way to actually have more than 100 % of your income protected . You can buy your individual coverage before being covered by a group plan . The two can combine to leave you with more than 100 % income . |
Who Does Disability Insurance Cover? | Disability insurance , commonly referred to as `` Paycheck Protection , '' covers exactly that -- your paycheck ! Should the insured person become sick or disabled from an illness or injury , it will pay the insured a percentage of their income . Depending on the type of policy you purchase , it could pay up until age 65 -LRB- assuming you do n't go back to work -RRB- . And some types of occupational definitions will allow you to go back to a different type of work , and the policy will still pay benefits to age 65 . | Not unless you operate a business out of your home . In that case you can deduct a portion of the homeowners insurance depending on the percentage of your home you use for business . To find out if you can deduct a portion of your home and what exact percentage it is best to speak with your tax adviser . |
When Is Roth 401K Taxed? | There are two types of money in a Roth 401 -LRB- k -RRB- . The first is the money that you contribute . Since that was taxed before it was paid into the Roth 401 -LRB- k -RRB- it is returned without taxation . The other portion is the earnings or interest that the account accumulates . Once the Roth 401 -LRB- k -RRB- is more than five years old and you have reached fifty and a half years old , that pool of money is also distributed to you free of any income tax . | Vandalism is covered by your car insurance policy under the `` comprehensive '' benefit . Assuming you have full coverage on your vehicle , you should have this benefit . It is possible a deductible will apply . The most common deductible ranges are $ 0 to $ 500 . More than likely , you have a lower amount which will reduce your out-of-pocket costs . |
When Is Roth 401K Taxed? | When is a Roth 401k taxed ? Well , the money that is subject to tax in the case of a Roth is the money contributed to the account . You pay your taxes going in , to later receive those funds and their gains without paying additional taxes on those distributions . So tax first , no tax later . | As is the case with most insurance , the insured is the person who pays the premium for renters insurance under most conditions . It could be an interested , benevolent , third person , however , that would not be normal . Under most circumstances it wouldnt be the landlord , unless he is using a renters policy as an inducement to lease the property . |
How Much Is Medicare Part B Premium For 2013? | Most people will pay $ 104.90 per month for their Part B premium in 2013 . This may be higher for people with high incomes . However , if you do n't sign up for Part B when you 're first eligible , you may have to pay a late enrollment penalty for as long as you have Medicare . Your monthly premium for Part B may go up 10 % for each full 12-month period that you could have had Part B , but did n't sign up for it . | Actually California has some of the most competitive auto rates in the country due to Prop 103 . While everything else in California is expensive my clients are often pleasantly surprised that the auto insurance rates in California are not sky high . In California we have a different set of rules governed by the Prop 103 law that heavily regulates the rates in California and what an insurance carrier can charge . Insurance rates are not credit based but are heavily rated on your driving record and driving history . |
How Much Is Medicare Part B Premium For 2013? | Higher income individuals may pay a penalty . In determining your penalty premium , Medicare considers your income from prior tax returns -LRB- from 2 years ago -RRB- . The penalty plus base premium is graduated based on income and can be as much as $ 335 in 2013 . Currently about 5 % of the population pays a Medicare Part B penalty . This figure is expected to rise over the next few years to roughly 14 % of the population . | Whole Life and Universal Life are the two main types of permanent insurance coverage -LRB- there are sub-categories with in that - e.g. guaranteed universal life , current assumption universal life , indexed universal life , participating whole life , non-participating whole life , and others -RRB- . Permanent life insurance , in general , is designed to provide coverage for the rest of the insured 's life and build cash value . Universal life insurance features a flexible premium structure It 's , in short , a blend between term life insurance and whole life insurance . A universal life policy will guarantee the maximum death benefit for the lowest possible premium -LRB- making it much less expensive than a whole life policy with the same death benefit -RRB- . Like with whole life insurance , universal life will build cash value , although it will generally not accumulate as much cash value over the life of the policy as a comparable whole life policy it is essentially term insurance to age 121 , with the emphasis on a larger death benefit instead of greater cash value for the premium that you are paying . Universal life is ideal for anyone who wants to maximize the death benefit and is n't worried about building cash value . You can guarantee benefits up to age 121 -LRB- with most companies -RRB- - these policies can be structured to dial down the death benefit to a specific age as well -LRB- e.g. to age 90 , 95 , 100 , 105 , etc. -RRB- , which can reduce your premium by a good margin . Whole life insurance is a great vehicle for planning for the future . The premiums and death benefit remain fixed and guaranteed for life while the policy can build cash value at a great rate - this structure is known as a non-participating whole life policy . The other type is called participating whole life policy . Participating WL policies can pay out dividends which can be used in several ways : 1 -RRB- Decrease the premium - the premium would eventually hit $ 0 at some point and the policy would , in essence , be self-sustaining meaning the dividend is equal to or greater than the premium for the program -LRB- if greater , the difference can be used to increase the cash value or increase the death benefit -RRB- 2 -RRB- Purchasing paid-up additions - these additions increase the face amount of the policy 3 -RRB- Increase the cash value at a faster rate While whole life has many advantages , it is also the most expensive form of life insurance . Whole life features level premiums and death benefits and builds cash value at a faster rate than Universal life policies - the trade off between is that to increase the cash value faster , the premiums will be substantially higher -LRB- can often be 2-3x the premiums of guaranteed universal life policies on many occasions -RRB- . Please note , regardless of the permanent coverage type , the carrier takes back the cash value upon the death of the insured , and pays out the death benefit proceeds . Therefore , guaranteed Universal life policies allow you to maximize your death benefit and minimize your premium dollars that you pay for the coverage . I hope the information is helpful - please feel free to contact me for assistance with your life insurance coverage needs , including quotes and policy comparisons , and if you have any other questions . Thanks very much . |
What Is The Fine For Not Having Car Insurance In Wisconsin? | According to the Wisconsin Department of Motor Vehicles Website fines regarding insurance are as follows : Operating a motor vehicle without insurance may result in a fine of up to $ 500 . Drivers and owners who fail to show proof of insurance at the time of the stop/accident may be fined up to $ 10 . Offering proof of insurance that is found to be fraudulent may result in a fine of up to $ 5,000 . | As a practical matter , there has to be ample policy cash surrender value in the policy which takes a few years to develop . Check your annual statement for the value for loan purposes . Policies vary widely and there are many factors to consider . The best way to get a current value is to contact your agent or the insurance company directly . |
How Does A Universal Life Insurance Work? | Universal life is a flexible life insurance policy that can coverage your indemnification planning scenarios or can generate tax advantaged supplemental income for retirement . You pay your premium via the payment mode you select . The policy expenses are deducted from premiums paid -LRB- or cash values later on in the policy -RRB- , then the earnings from the crediting method are applied . Keep in mind that there are surrender charges , policy loan costs and two sets of rates : current company practice and contractual guarantees . The two sets of rates cover the cost of insurance , policy fee , admin charges and front end premium loads . | Lifetime annuities are annuities that pay the annuitants monthly payments for the rest of their lives . The annuity can be an immediate annuity , where a lump sum is used to purchase the annuity , and payments begin right away . Or they can be deferred annuities , where money is put into the annuity over a number of years before the annuity is annuitized . The annuity can be fixed , with guaranteed fixed payments . Or it can be variable , which may generate higher or lower payments than a fixed annuity . When the annuitant dies , the payments of a lifetime annuity end . If the annuity holder lives longer than expected , they can do very well with a lifetime annuity . If they live a shorter than expected , that is not favorable to the annuity holder . However , some contracts allow payment of an amount equal to the initial investment to the beneficiary . |
What Happens When Insurance Totals A Car? | Every insurance company and policy is different but in general if you have a vehicle that sustains a total loss , the insurance company will issue you a check for the actual cash value -LRB- ACV -RRB- of the vehicle minus your deductible . What is ACV and how does the insurance company calculate this amount ? They will take the amount to replace your vehicle and depreciate that amount based on age and condition . Basically , it 's the amount that you could get if you sold the vehicle on your own . Here are some common sites that insurance companies will use to calculate the value : WEBSITELINK WEBSITELINK You might also want to check out Ebay because you can look at what similar vehicles sold for in your area . And this should give you a real good estimate for the amount you should expect to receive from the insurance company . And in the end , the more homework you do , the more money you can save . | Once a disability insurance policy is in force , i.e. delivery requirements have been met and the modal premium paid , the elimination or waiting period must take place . The waiting period starts at the filing of the claim , e.g. 90 days . after that the monthly benefits begin . The benefits are generally tax free . |
How Much Will I Get Fined For Not Having Health Insurance? | Mr. Benore has a more complete and correct answer . I must add , if you employ more than 50 full time equivalent employees you must provide a qualified health plan -LRB- QHP -RRB- for 95 % of those employees and the maximum each employee contributes to that cost is 9.5 % of gross income graded according to an income scale . | This may depend on your state , here in PA you can switch at anytime during your policy . Also your current company must refund you any unerned premium that you have paid them . So if you have paid six months upfront and you cancel after the first month they have to refund you the remaining five months . Depending on the company you may have to pay a early cancelation fee , however this is rather uncommon . |
How Much Will I Get Fined For Not Having Health Insurance? | Your fine is $ 95 -LRB- for an adult -RRB- if you do n't purchased the required health insurance in 2014 . Actually , it 's a tax -LRB- just a matter of semantics -RRB- . This amount will increase with additional family members and in subsequent years , the tax will go up . To minimize your cost , use an experienced broker that can help you shop , compare and apply for coverage . You may also be eligible for a federal tax subsidy that could substantially reduce your premium . You 'll find this answer to be 100 % accurate and quite correct ! | Yes , as part of the application you will sign a Health Insurance Portability and Accountability Ac -LRB- HIPAA -RRB- release as part of the application , which grants release of your medical records to the insurance companies and it 's agent . This allows the company to order your medical charts at it 's discretion for review . |
How Much Will I Get Fined For Not Having Health Insurance? | Individual Penalties 2014 - Greater of $ 95.00 per Adult , $ 47.50 per child -LRB- $ 285.00 Maximum for family -RRB- or 1 % of taxable household income 2015 - Greater of $ 325.00 per Adult , $ 162.50 per child -LRB- $ 975.00 Maximum for family -RRB- or 2 % of taxable household income 2016 - Greater of $ 695.00 per Adult , $ 347.50 per child -LRB- $ 2085.00 Maximum for family -RRB- or 2.5 % of taxable household income | A deductible is the amount you the insured will pay if you have a claim . The higher deductible you take when you purchase a policy the lower your premium will be since you assume a little more risk yourself . For example , If you have a $ 500.00 deductible and you have a $ 2,000.00 loss then you pay the first $ 500.00 -LRB- your deductible -RRB- and the insurance company pays the $ 1,500.00 |
How Do I Get A Life Insurance License In Arizona? | To get a resident life insurance license in Arizona , you need to take the licensing test and then pass the stringent test . Some prospective agents attend classes , seminars or webinars to assist them in learning the material . Once the test is passed , you submit evidence of that to the Arizona Department of Insurance and pay the fees needed to be licensed as a life insurance agent in the state of Arizona . | That is a great question ! The answer really lies with your level of risk tolerance and where your level of affordability lies . The higher the deductible , the cheaper your premiums will be , but if the deductible is set to a point where you could n't raise that amount in an emergency , then it 's not good either . You want to have a deductible that you can safely come up with , but yet allow you to safely afford the premiums . Thank you for asking ! |
Does Usaa Homeowners Insurance Cover Hurricane Damage? | USAA homeowner 's insurance covers hurricanes . Typically , hurricanes are considered wind damage and it is always a peril that is listed in your basic and comprehensive policies . However , resulting flood damage must be covered with a separate flood insurance policy which can be purchased through most brokers and agents . They can review the rates quite easily . | Typically , Medicare only covers treatment of a condition if it 's deemed medically necessary by a doctor . Otherwise you may have to pay for treatment out-of-pocket . I would recommend contacting the Medicare office directly to see if they would cover it for your specific situation . I hope the input is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
Does Homeowners Insurance Cover Landslides? | There are a couple of specific exclusions that can be found pretty universally throughout Homeowners Insurance policies and they are damage caused by earth movement and that caused by flood . Coverage for earth movement can usually be endorsed onto the policy , but Flood insurance must in all cases be purchased as a separate policy . | Original Medicare -LRB- Parts A & B -RRB- cover some part-time home health services such as physical therapy , skilled nursing care , speech-language pathology servcies , etc. . Medicare does not pay for 24 hour home health care however , nor meals delivered to your home , personal care , and homemaker services . Please note , there are a number of conditions that must be met for Medicare to cover your home health care . If you need more than part-time/intermittent home care , Medicare will not cover the expenses . Home health care is very expensive and you can deplete your savings paying for it . For someone wanting 24-hour home health care to be covered by their insurance , they should look into securing a long-term care insurance policy . While long-term care can be an expensive type of insurance to have , you 're paying pennies on the dollar if you needed to make a claim on the coverage . There 's many moving parts to long-term care insurance . If you 're looking to secure this type of coverage , it 's most helpful to consult with an experienced broker to help build a policy that will best serve your needs . Please let me know if I can be of further assistance . Thanks very much . |
Does Home Insurance Cover Structural Problems? | A homeowners policy covers damage that is the result of one of the specified perils . Structural damage that is the result of fire , windstorm , hail , etc. is covered under most policies . Structural damage caused by flooding of earth movement is generally excluded . It would be a good idea to discuss this with your insurance agent prior to submitting a claim . | That is a great question ! A tax deferred annuity is a great way to helpfund a retirement plan . In this type of vehicle , the money that you put into the annuity grows steadily . The interest that it earns stays in the annuity , and is n't counted yearly as income , so is n't taxable . Once the point comes when you start taking payments from it however , that earned interest becomes taxable , and is counted as income . Everything in the annuity over the amount that you started with is considered taxable income and you will count the interest on your taxes each year that you receive payments . The idea behind this strategy is that once you 've retired , you 've dropped in your yearly earnings , and thus into a lower tax bracket , and yet again saved money . If you would like more detail on this financial tool , please contact me , okay ? Thanks for asking ! |
Does Health Insurance Cover DNA Testing? | In some cases health insurance will cover genetic DNA testing . Expectant parents that are at risk may qualify for testing of potential genetic illness . Genetic conditions such as Downs syndrome , Tay-Sachs and Sickle Cell are ilnesses that can be passed on to your children . If you or your doctor suspect genetic conditions could be in play that will affect your baby , ask your health insurance carrier if they will cover genetic DNA testing . | Great question . Cobra cost a lot in Arizona . If you have been laid of your work and in good health than cobra is the most expensive option for you . You can apply on your own and get individual insurance for much less money than cobra in Arizona . Please call your local agent for detail . |
What Does PPO Stand For With Health Insurance? | PPO is a `` Preferred Provider Organization , '' which is a network of doctors , hospitals and other facilities that will offer their services at contractually lower prices to members affiliated with them . Often the discounts are substantial which saves individuals and families hundreds or thousands of dollars . It is a medical care arrangement where the insurers may pay a fee to become part of the actual Network . However , since their charges for procedures and other treatment is reduced , they may gain market share by writing more policies . Most major health insurers offer many PPO plans that help keep premiums low , while providing top-notch treatment and service . | The best life insurance is the policy that you purchase from your trusted life insurance agent . Friends , colleagues and neighbors can recommend someone if you dont already have that relationship . A good life insurance agent will listen to you carefully , offer sound financial advice and communicate clearly with you and the insurance company . Tailoring a plan that meets your needs will be the agents priority and when done properly a meaningful relationship will be established . |
Does My Car Insurance Cover A Break In? | It may if you have full coverage on your automobile insurance -LRB- this would include the term `` comprehensive '' or `` other than collision '' -RRB- and may be subject to the policy deductible . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . | It is extremely difficult to get Disability Insurance while having multiple sclerosis . There is one company that says it will cover MS with a graded disability insurance policy , but the criteria for getting it are so strict that , in essence , it is almost impossible for someone with multiple sclerosis to qualify for it . Group coverage may be possible . |