Input: When Was The First Life Insurance Policy Written?

Output: This is a great question and one that I just recently researched . It seemsan investigative reporter by the name of Ronald Kessler set out to answer this question . He wrote a book called The Life Insurance Game back in 1985 . He did discover definitive information that the oldest life insurance policy can be traced back to London in 1583 . The insured was a gentleman by the name of William Gybbon . Mr. Gybbon worked in London as a Salter of meat and fish used to preserve the meat . The company underwriting the plan was not clear , but the beneficiary was known to be Richard Martin . No one really knows their relationship or the face amount of the policy other than it was a one year term , but it is an interesting story . William Gybbons actually died near the end of the policy year . The underwriting company refused to pay the claim on the grounds that the contract was for a lunar year versus a calendar year . The courts ruled in favor of Richard Martin and the claim was paid . So , even 430 years ago insurance companies were playing the loophole card . Thank you for asking the question , I personally love these stories .


Input: What Was The First Life Insurance Company?

Output: Although Lloyds of London claim to fame was insuring cargo transported by sailing ships in the late 17th century , they begin pricing life insurance shortly after Sir Edmund Halley , of Halleys comet fame , wrote the first actuarial table . In the U.S. the First Presbyterian Minsters fund , a stock company , for ministers was created in 1759 . The New England Life , the first mutual company , in 1835 .


Input: Is Obamacare Good?

Output: It truly depends on who you ask . Personally I feel it is a great thing that has happened to our country . It has been a rough start but this is history in the making . Look how far Medicare has come since it 's inception . `` Obamacare '' , also know as the Affordable Care Act , is allowing people with pre-existing conditions to now see the doctors they want to see and if they can not afford the insurance then the government is going to pay for some if not all of it . I think this is going to be the Legacy that President Obama is known for and once al the kinks are ironed out and people are educated to exactly what this means for them and stop listening to all the propaganda on TV then they will then come to realize it . If all of these other countries can have socialized medicine and have made it work then why ca n't the most powerful country in the world pull this off . Try it yourself by visiting WEBSITELINK and being educated on the matter and then get a quote and see how much , if any , the government will pay for your subsidy .


Input: What Are The Top Auto Insurance Companies?

Output: Not every car insurer is admitted to your state . What you really want is a list for your state . Having said that , please realize that your insurance commissioner exercises a great deal of control over the practices of any insurance company that they admit . You can trust most of them . Bigger doesnt necessarily mean better . The best company , handled by a poor agent is still a poor mix . Ask your colleagues , friends and neighbors and find out who they trust . It really is a local thing .


Input: What Is Annuity Guarantee Period?

Output: It is important that we recognize the possible misunderstanding between `` having actually exercised your beneficiary options -LRB- single life , joint life , guaranteed minimum payment -RRB- and an annuity that the owner dies before the beneficiary option has been exercised . In addition , upon the death of the owner the annuity can be claimed and a full payout achieved simply by the survivor beneficiary -LRB- assuming the beneficiary designations are current -RRB- submitting a `` death certificate to the company . That enables the beneficiary spouse to have the monies in her name at her chosen location and in her investment option of her choice so why are we swatting at the flies ?


Input: Can Life Insurance Companies Raise Premiums?

Output: Life Insurance Premiums may or may not be raised depending on the product , interest rates earned or not earned and company strength . Term products are generally guaranteed for the term however there are term products which may increase every few years . Permanent products like Whole Life , are generally guaranteed however Universal Life products are designed not to increase if funded properly but is not guaranteed . Be sure to understand the policy which you are interested in , the guarantees or lack thereof . Contact your agent if your unsure .


Input: Can Life Insurance Companies Raise Premiums?

Output: Life Insurance policies are always level term policies meaning that the premium will never raise for the life of the policy . So if you are 25 years old and you buy the policy at that age and at the rate charged which will pertain to risk like smoking , of any other conditions then you will pay the same premium for the lifetime . The only exception is that if you have a Term Life Policy , in which you will pay the same premium for the term of 10 , 15 , 20 , or 30 years then when that term is completed you may buy another Term but the rate will change due to age or health , so you will definItely pay a higher premium .


Input: Can Life Insurance Companies Raise Premiums?

Output: Can insurance companies raise prices ? Yes or no , depending on the product you choose to buy . Whole life policies tend to have a guaranteed premium that the company can not raise the price of . That is a reason whole life tends to be more expensive than other choices , because the insurance company can not at a later time , change the cost . Term policies on the other hand , may offer a period of time where the cost is locked in , but it usually wo n't be for the life of the policy . A person could have a period of time where the cost stays the same for say , ten years . After ten years the price would go up every year the policy remained in force .


Input: Can Life Insurance Companies Raise Premiums?

Output: Can a life insurance companies raise premiums on policies ? It depends . A life insurance policy is a contract and terms of the contract will dictate whether or not premiums can or will be raised . For example if you have a guaranteed whole life policy the wording will probably indicate premiums level . If you have a term policy that renewals after 10 years , then the premium will rise . A previously mentioned , you would be bested served meeting with a local independent broker to help you determine what plan is right for you . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: What's A Hardship Withdrawal 401K?

Output: An employer can establish a defined contribution retirement plan in accordance with Internal Revenue Code 401 -LRB- k. -RRB- The employer is responsible for the plan documents including definitions . While not required there may be some mention of hardship withdrawals . If your plan has provisions like this , they would be in the plan document which is available from your employer . The taxation of those withdrawals is governed by the Internal Revenue Service .


Input: Can Death Row Inmates Get Life Insurance?

Output: No . Insurance companies typically will not issue a life insurance policy to anyone who is incarcerated at the time of the application . Please note , some may think that a `` guaranteed issue '' policy could be issued , however , these types of policies are cited as guaranteed issue in reference to a person 's medical history not being a factor in the underwriting process . Guaranteed issue policies also featurea 2 or 3 year `` graded '' period on the policy . A graded period means if death occurs in the first two years of the policy , then the carrier returns the premiums paid into the policy -LRB- unless death occurs under accidental means , then the full face amount is paid out -RRB- . If death occurs after the graded period has expired , then the full death benefit is paid out .


Input: Can Death Row Inmates Get Life Insurance?

Output: I called a guaranteed issue carrier to inquire as to whether they will cover someone who is incarcerated , and they said yes . They did not ask whether the person was on death row , and I do not believe that is a factor . If you would like me to check for you , please use the form to contact me .


Input: Can Death Row Inmates Get Life Insurance?

Output: That is an excellent question ! I work with several insurance companies , and I do not know of a single one that will insure someone who is currently incarcerated , especially one on death row . Insurance companies are all about risk , and if the applicant is living a lifestyle that includes incarceration , you can bet they will pass every time . Generally there will be a period of time that must elapse before they will consider approving the claim . Unfortunately , this is one of those side effects of negative behavior that is n't considered beforehand , and becomes a big problem afterward . Sorry , but thanks for asking !


Input: Can A Landlord Make You Get Renters Insurance?

Output: Notwithstanding state peculiar legislation , a landlord can insist that a tenant have a renters policy . The landlord does this to clarify the relationship he has with the tenant . The landlord is not responsible for your property , even if it is destroyed along with his building . He is not responsible for personal injury and physical damage that comes from someone coming onto the property that you have rented . That is your responsibility and you would be the one sued . This problem goes away for a small premium .


Input: Can A Landlord Make You Get Renters Insurance?

Output: A landlord can require as part of the rental/lease agreement that a tenant secure renters insurance in order to rent from them . As of today I do not believe that there is any law on the books that requires it , but if it is written into the agreement then it is a must . I would recommend that every renter out there secure renters insurance . It is typically very inexpensive and will help protect you from some of life 's mishaps .


Input: What Is The Best Medicare Advantage Plan For Florida?

Output: Medicare Advantage plans vary greatly in benefit design and price . Rates and benefits are set by geographic area . As such , Advantage plans in Florida will differ from those available in Georgia . There is no `` best '' Medicare Advantage plan . Most Advantage plans have networks . Some networks are local while others are regional . Some Advantage plans only include coverage if you are treated by a network provider while others will include out of network coverage but with a higher -LRB- and usually separate -RRB- deductible , higher copay 's and higher out of pocket . A plan purchased in Florida would no longer be valid if you moved out of the plan service area .


Input: When Is A Person Eligible For Medicare Part D?

Output: Eligibility to enroll in Medicare Part D is at the same time as one is eligible to enroll in Medicare Part A , B and C . This is usually age 65 or when one starts receiving SSDI . There are certain times when one can sign up for Medicare Part D. Visit this website for details : WEBSITELINK


Input: How Do You Cash In Your Whole Life Insurance Policy?

Output: Before you cash in and surrender a life insurance policy , there are several things you should think about . One of the things that most people do n't think about is their insurability , especially when they have an existing plan . They may have preferred rates at the time they got it , but now have a medical history and may be looking at standard or substandard rates on a new plan if they decided to get coverage again later on . If you 're looking at securing new coverage / replacing the old policy , you should compare the two structures and make sure it 's the most favorable course of action for you . After all things considered and you still want to cash out the policy , you can call the carrier/contact your agent and tell them you want to terminate the coverage -LRB- the amount you receive would be less any surrender charges or loan fees , if applicable.You may also want to verify whether you are subject to any taxable gains on the policy when cashing it out - this occurs when the cash value is greater than the premiums paid in to the policy -RRB- and they 'll send you the necessary paperwork . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: How Do You Cash In Your Whole Life Insurance Policy?

Output: That is a great question ! Cashing in , or `` surrendering '' your policy is actually a very simple process , but I 'd really ask you to think about it before doing it . The first thing is that you have another policy in force before you cancel this one . The second is that if it is a cash flow issue , that you consider a couple of alternatives - maybe you reduce the coverage amount , and lower the monthly payment ; maybe you settle the policy for the amount it will pay out now , and keep the coverage with no more payments due ; or perhaps you just borrow out of the policy , and keep the policy active while getting the cash that you need . If you have your heart set on surrendering the policy , contact your agent , have them instruct you on the company 's requirements , and tell you the amount to expect . I hope that helps , thanks for asking !


Input: How Do You Cash In Your Whole Life Insurance Policy?

Output: Before you cash in your whole life policy , you should discuss with your agent / broker to be sure you are aware of any other options and any consequences . All companies require notification in writing that you wish to surrender your policy . Some accept letters other require surrender forms . Simply contact your agent/broker and indicate that you would like to surrender your policy and you will be advised what is needed . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: How Do You Cash In Your Whole Life Insurance Policy?

Output: For sure , it is a simple procedure . Call up your insurance company and ask for the right form . There you go . But : as with any major decision , you should first assemble a team of advisers and make sure all bases are covered the way they should be . You do not want this move to backfire on you . First of all , talk with the beneficiary of the policy . Once you cash it in , there will be no survivor benefit . Nothing . Is that OK ? Are you self-insuring with some other liquid funds ? Will the exact amount of money needed be there when it is needed ? All cash needs met ? Debts can be paid off ? How about money for the future ? Kids will be OK ? Grandkids ? Your business ? Charitable gifts taken care of ? Lots to think about before you wipe out the death benefit . Then talk with your insurance broker . Talk about the possibility of your getting coverage later , should you need it again . What would the pricing be like ? Of course , you should be given only the most general of answers . You will be older , so the price , of course , would be higher ... ... assuming that you are insurable . And your broker should make it clear in no uncertain terms that you may unfortunately not be eligible for coverage at a later point . You may have a serious medical condition . You may take up an adventurous hobby . You may have a job that requires travel to hazardous places . Any number of changes could take place that would disqualify you for coverage , or drive the price up . A lot . Dont forget that . Dont take your insurability for granted . It is not prudent to assume you will be able to easily pick up a cheap policy . You should also talk with your accountant or tax advisor . Depending on how you have funded your life insurance policy , all or a portion of the surrender value may be taxable . You need to know that before you accept the check . You do not want to get hit with an unexpected tax bill , especially if you have counted on all the money for a specific purpose . There you go . Surrendering your life insurance is as simple as completing a form . But it really is not so simple .


Input: How Do You Cash In Your Whole Life Insurance Policy?

Output: To `` cash in '' a whole life policy ? Depends on what you mean specifically . If the insured person has died , contact the insurance agent for the policy or the insurance company . They will have a form for you to fill out , -LRB- assuming you 're the beneficiary -RRB- , and you will need to submit a copy of the death certificate . If you want to access the cash value in the policy without giving up the policy - that is you want to use some of the cash value and remain insured , you simply need to contact the insurance company and tell them you want to borrow against the cash value . If you want to surrender the policy - that is take all the cash value and give up the policy no longer to be insured , again you need to contact the insurance company and tell them that . They will have a form for you to file with them . Be aware that by surrendering the policy and taking the cash value out you will likely have to pay tax on the income .


Input: Why Not To Invest In Variable Annuities?

Output: Annuities and especially Variable contracts have a place if your primary goal is to defer taxes and guarantee lifetime income . However there are many potential down falls which include market risk , not very liquid , surrender charges , very high fees to protect principal , and not very flexible when you need to make changes to the contract . Every person 's financial situation is different so a good financial advisor would go through a thorough risk assessment to assure that this type of contract is good for you . I also would mention this is n't a good place for all of your life savings . Things tend to change overtime like health.Unexpected expenses may cause the contract to change if more than a free withdrawal is needed to take care of the expenses . Typically a free withdrawal is 10 % of the premium -LRB- original deposit -RRB- without causing a surrender charge or change to the contracts living benefits .


Input: Does Car Insurance Cover DWI?

Output: If you mean does auto insurance pay for a claim when you had an accident and were charged with a DUI , the answer is yes . I have seen some companies however exclude paying a claim if the DUI was considered a felony . This is usually not the case and the claim is paid . I would say this is about the only silver lining of what comes to follow by a DUI .


Input: Does Car Insurance Cover DWI?

Output: If you have an accident related to a DWI your policy will provide coverage however most companies will cancelthe policy at renewal . There are companies who insure drivers with DWI 's but the premium is a lot higher . Some states also require an electronic filing to make sure you have insurance . For example , in Virginia , if a driver gets a DWI you have to file an FR44 and your liability coverage has to be at least $ 50,000 / $ 100,000 / $ 40,000 .


Input: How Much Should I Contribute To My Retirement Plan?

Output: You should always pay yourself first and as much as you possibly can afford . Government programs are uncertain , but living longer may be a certainty for most Americans . The retirement period may be 20-30 years . Contributing the maximum the qualified retirement allows today will determine your lifestyle at retirement .


Input: What Is Meant By Life Insurance Creates An Immediate Estate?

Output: The economic leverage of life insurance and its tax advantages can create an instant estate within the justification and insurable interest rules . A healthy male age 65 may be able to receive a 4 to 1 benefit to dollar spent on a single deposit . A healthy female age 65 may be able to receive a 5 to 1 benefit to dollar spent on a single deposit . A survivorship policy with a healthy male and female age 65 may be able to receive a 6 to 1 benefit to dollar spent on a single deposit . So if you want to make a difference in the lives of your children , grandchildren , great grandchildren or charity , this is the economic way to go .


Input: Does Drug Use Void Life Insurance?

Output: Life insurance has a two year review period . During that time any company has the right to cancel a policy and issue a refund , if the insured lied in any material manner on the application , or commits suicide . After two years , the company is bound and unless the policy specifically excludes death by drugs , which almost never is the case , the company is obligated to pay , even for a suicide . If you have a drug problem , however , is n't it wise to try to deal with it quickly and protect your health and your family ? Gary Lane , Registered Representative and Agent , New York Life , 949 797 2424 . Thank you .


Input: Does Drug Use Void Life Insurance?

Output: Adding to Peggy 's ... if you do have a history of drug use but are `` cleaning '' up , you may qualify for what we refer to as a graded benefit life insurance . This type of policy for the first 2 years only returns premium paid or gives a percentage of the death benefit if death occurs within first 2 years . The 3rd year pays the entire applied for death benefit . Or you can consider an accident only policy until such time your history is cleaned up .


Input: Does Drug Use Void Life Insurance?

Output: If you use marijuana , you may be a little concerned about taking the required exam to get term life insurance fearing that if marijuana use is detected , you may be ineligible for coverage.Fear not.Marijuana use , by itself is not something that will make you ineligible , but it is something that is tested for.Of course , the results of the test may come back negative , but the questionnaire will probably also ask whether you have used any illegal drugs in the past five years.If the answer is yes , again , you should be able to qualify for life insurance . If marijuana shows up in your blood test , the chances that you will be able to qualify for the most desirable rating class are somewhat diminished , and if they show up not all at -LRB- but you answer yes to the question about marijuana use -RRB- your chances are diminished somewhat . Each life insurance company follows different guidelines , but generally , you will be charged smokers rates for life insurance if you have used or are currently using marijuana .


Input: Does Drug Use Void Life Insurance?

Output: Outside of the application process , no in most cases , unless other wise specified within the policy . If a person passes from drug related issues after purchasing a policy , the company will pay ... Unless , there is a recorded history of drug use prior to the application and the applicant does not disclose this during the underwriting process . After two years this may be a moot point as the contestability clause would prevent the insurance company from refusing to pay . However , not all states have adopted this clause . The clause could be shorter or depending on the state , not applicable at all in cases of insurance fraud .


Input: Does Drug Use Void Life Insurance?

Output: If you are applying for life insurance and cocaine , meth , heroin , or other harmful drugs are found in your blood and/or urine sample , your policy will most likely be declined . However , if you have a life insurance policy that you got in the past , and did not lie or omit anything on that application , then died of a drug overdose , the policy will most likely pay out .


Input: Can I Be Turned Down For Medigap Insurance?

Output: You can be turned down for a Medigap Policy . If you are in your Open Enrollment Period -LRB- new to Medicare -RRB- or if you can qualify for Guarantee Issue you can not be turned down regardless of your health . If you are not in Open Enrollment or Guarantee Issue you have to answer all health questions on the application so the insurance company can determine if you qualify medically for their Medigap Policy . If you have serious health conditions you can be turned down or you could be charged a much higher premium for the coverage because of the pre-existing health conditions .


Input: Can I Be Turned Down For Medigap Insurance?

Output: Yes , you can be declined for Medigap insurance , but there 's usually a company that will likely take you unless certain events occur -LRB- e.g. you 're about to go in for major surgery -RRB- When you apply for Medigap coverage outside of your initial open enrollment period when you 're new to Medicare -LRB- and do n't have a special enrollment period qualifying event -RRB- , you can be subject to medical underwriting -LRB- answering the health questions on the application -RRB- . Each insurance company has their own health questions so you may be able to qualify for one company and not another if you have certain major medical conditions you 're being treated for/have been treated for in the last few years -LRB- e.g. insulin-dependent diabetic , heart disease , cancer history , etc. -RRB- . This makes when you 're new to Medicare the best time to first buy a Medigap plan . You will have a a 6-month window to buy any Medigap plan and the carrier can not decline you for any medical issues - meaning no medical underwriting during this period . You should work with an independent broker who can review options from many companies and make sure that the Medigap plan you purchase is offering you the benefits at the lowest possible cost . Please remember , Medigap plans are standardized , meaning that regardless of the insurance company you have the coverage through , they will ALL pay the same exact way . The only difference is the price you 're paying . I hope the information is helpful - please feel free to contact me for assistance with your Medigap insurance and if you have any other questions . Thanks very much .


Input: Can I Be Turned Down For Medigap Insurance?

Output: Yes and no . You can not be turned down for Medigap Insurance if : You are in your Open Enrollment Period -- the one-time only , 6 month period that allows you to buy any Medigap policy you want that is sold in your state -LRB- starting the first month you 're covered under Medicare Part B AND you 're 65 or older -RRB- . During this period , an insurance company can not deny you a Medigap policy . Your Medicare Advantage Plan is leaving Medicare or stops giving care in your area , or you move out of your Medicare Advantage Plan area . You have orignial Medicare and an employer , retiree , union , or COBRA coverage that is ending . You move out of the service area for your Medicare SELECT policy . When you were first eligible for Part A at 65 , you joined a Medicare Advantage Plan or PACE program and you decide within the first year of joining to switch back to Original Medicare . You dropped a Medigap policy to join a Medicare Advantage Plan for the first time , it 's been les than a year and you want to switch back . The Medigap insurance company that holds your policy goes bankrupt , or your coverage otherwise ends through no fault of your own . However ... If you already have a Medigap policy and want to switch to another company , you will be required to answer health questions on the application . All insurance companies are unique with their medical underwriting guidelines ; but , you must be approved in order to buy a Medigap policy . If you have original Medicare Part A and B and are outside the Open Enrollment Period , then you will also be required to answer health questions to be approved through the medical underwriting process . Every individual case is unique and an agent who specializes in Medicare Supplement insurance , can help you determine your ability to get Medigap insurance . If I can be of assistance , please call me at 1-888-411-1329 .


Input: Can I Be Turned Down For Medigap Insurance?

Output: In NY , medically , YOU Can NOT be turned down for a Medicare Supplement . However , you still must be enrolled in both . Medicare Parts A and B and have no other Medicare Supplement or Medicare Advantage Plan . A Medicare beneficiary can only have 1 plan supplementing Medicare . If already enrolled in a Medicare Advantage Plan and want to change back to original Medicare , one must wait for either of the following 2 time periods , 10/15 to . 12/7 or 1/1 to 2/14 of a calendar year .


Input: How Much Does Health Insurance Cost A Company Per Employee?

Output: Most health insurance carriers require an employer to pay at least 50 % of the employee premium . Average group health insurance premiums in Atlanta , GA are around $ 450 per month so in my area the answer would be roughly $ 225 per month at a minimum . Rates in your area might be different .


Input: How Much Does Health Insurance Cost A Company Per Employee?

Output: It depends . Employers are not required to make a mandatory percentage towards coveragealthrough it is customary for employers to cover at least 50 % . However there are some other factors to consider as well ; 1 -RRB- Depending on how an employer values an employee the contribution can be as high as 100 % of employer sponsored coverage 2 -RRB- Sometimes employers cover the majority of the premium in lieu of extending raises or bonuses . 3 -RRB- THere are times when its a lot less than 50 % due to the fact that the employer is trying to extend benefits to their employees on a wide scale and financially its not prudent to offer a high percentage of employer contribution . 4 -RRB- Many companies have a waiting period for new employees to join -LRB- 30 days or 90 days probation -RRB- to see if a new employee will work out prior to expending money to cover benefits . Single coverage is always less expensive than family coverage . There is also a distinction between married adults and married adults with children .


Input: Does Medicare Supplemental Insurance Cover Dental?

Output: Medicare supplemental insurance plans do not include routine dental insurance . Some Medicare Advantage plans do offer such a benefit . Most people either pay out of pocket or purchase a separate dental plan from an insurance carrier . Some dental plans offer real value but most are overpriced for the money you pay .


Input: How Much Will You Be Fined For Not Having Health Insurance?

Output: Beginning in 2014 the PPACA , better known as the Presidents signature legislation , Obamacare goes into effect . Obamacare is a mandatory health insurance regulation that every American is legally bound to purchase , if they qualify under income means testing . If they elect not to participate , then the IRA will levy a penalty which the Supreme Court defines as a tax .


Input: What Would Be The Penalty For Not Having Health Insurance?

Output: Beginning in 2014 , under the new affordable care act , everyone will have to have health insurance or pay a penalty -LRB- also known as an `` individual shared responsibility payment '' -RRB- . If you choose to pay the penalty instead of securing coverage , you will still be responsible for 100 % of your medical care . The penalty is calculated in one of two ways -LRB- you pay whichever is the higher amount -RRB- . In 2014 , the penalties will be calculated as : 1 -RRB- 1 % of your yearly household income featuring a maximum penalty as the national average yearly premium for a bronze plan . 2 -RRB- $ 95 per person for the year -LRB- If under age 18 , then $ 47.50 -RRB- featuring a maximum penalty per family of $ 285 under this method . The penalty calculations will change each year . In 2015 , method one increases to 2 % of your yearly household income and method two increases to $ 325 per person . In 2016 , it will increase again to 2.5 % for method one and $ 695 per person for method two . The penalty methods will be adjusted for inflation in later years . I hope the information is helpful - please feel free to contact me for help with your coverage or if you have any other questions . Thanks very much .


Input: How Old Do I Have To Be To Collect Medicare?

Output: Generally , you become eligible for Medicare when you turn 65 . You can see more from the government on this here : WEBSITELINK When you start on Medicare , that is the best time to get a Medicare Supplement Quote for a private insurance plan that pays the costs that Medicare , itself , does not cover . That 's what we specialize in . Feel free to reach out for help with a free quote .


Input: What Is Fixed Indexed Annuities?

Output: Fixed Indexed Annuities are tax deferred annuities that feature domestic and foreign indices with three crediting methods : rate spreads , rate caps and participation rates . Interestingly enough , these three methodologies appear to coalesce after ten years . Indexed annuities never credit less than zero , but keep in mind that annual policy expenses are still deducted from the premium , so there could be a loss in any one year during the surrender period .


Input: Does My Life Insurance Cover Skydiving?

Output: When you applied for the life policy you probably had to indicate if you were involved in skydiving . If at the time that you completed the application you answered that truthfully and the company did not exclude skydiving from your policy , you are probably covered . If there isnt an exclusion for skydiving and the policy is more than two years old , you are probably covered . The statements on an application are representations and must be factually correct to the best of your knowledge .


Input: Does My Life Insurance Cover Skydiving?

Output: If you already own a life insurance policy that has been in force for a while and you are about to involve yourself in skydiving for the very first time , then yes . If you have been actively skydiving for quite some time and applied for your policy during that time , and fully disclosed that you are a recreational skydiver , and the company accepted your application having been truthfully advised , then yes as well . If however you applied for your life insurance and lied about being recreational skydiver , thus not fully disclosing material information to our insurance carrier , I 'd stay in the plane if I were you .


Input: Does My Life Insurance Cover Skydiving?

Output: Yes , it can affect what you pay for your life insurance . You can secure life insurance even if you skydive . However , every policy will ask you if you participate in any extreme or hazardous activities - this includes skydiving . When this is answered yes , they will likely ask you to complete a questionnaire to provide details . Some carriers will offer full coverage , but will charge a flat extra -LRB- an additional amount per $ 1,000 of coverage -RRB- or a lower risk class . This is a premium added onto the policy to cover the added risk incurred by being a skydiver . Others may only approve coverage withan exclusion rider -LRB- stating that if you die under this condition , the policy will not pay out the death benefit amount -RRB- . It may cost more for a program that will protect against death as a result of a skydiving incident , but it can be worth it - the choice is ultimately yours . Adjusting the face amount and/or term length are ways of reducing the premiums as well . When you 're no longer skydiving , you may want to look into re-writing your coverage to secure a more favorable premium structure - keep in mind , most carriers will generally look-back 2 years on these activities though.There are some simplified issue , non-medical , life insurance policies that do not ask about about extreme activities , but these programs will generally feature a substantially higher premium and the amount you can secure under a single policy will be limited . I always recommend consulting with an experienced broker who can review options from multiple carriers because each company can assign a different risk class for skydivers . Please let me know if I can be of further assistance . Thanks very much .


Input: When Are Annuities Good?

Output: Annuities are good when a person wants to avoid risk of loss and desires a legally enforceable contract to receive principal and interest returns . Annuities are coveted when people deem it prudent to take distributions over time to making certain the income does not run out . The tax code allows advantaged distribution corridors based on established actuarial tables . The annuity owner can keep the option to direct funds to desired beneficiaries in most contracts .


Input: When Are Annuities Good?

Output: An annuity has a distinct advantage over other investments . That advantage is its ability to provide a lifetime income guaranteed . If that is the need , then an annuity is the only option . The second advantage is the income tax treatment given to an annuity . During the accumulation phase any gain on the policy regardless of its source is deferred until the annuity is surrendered or annuitized . Annuities can incorporate a wide range of investments which will allow an investor to change investment strategies with the passage of time . The biggest disadvantage to an annuity is that it is a long term program and capital is difficult to withdraw if needed in the early years of the contract .


Input: How Can Life Insurance Be So Cheap?

Output: Term life policies have the lowest rate because statistically insurance companies pay out death claims for only about 1 % of the term life policies . Permanent policies higher cost is because of the much higher death claim percentage to the insurance company . .


Input: How Can Life Insurance Be So Cheap?

Output: Life insurance is `` cheap '' because of people called actuaries . These skilled people are very good at calculating mortality of policy holders . Term is an easier calculation because of the specific time period . Statistically speaking only about 1 % of term life insurance policies pay a death claim , because they are either cancelled early or out of term before death . Permanent policies have a much higher claim rate because of the many advantages and people tend to keep them for the whole life . These policies are much higher priced than term because of this risk .


Input: How Can Life Insurance Be So Cheap?

Output: Life insurance is cheap because not everyone collects from it . Term life insurance has the cheapest rates , and the shorter the term , the lower the rates . However , this shorter length of coverage also reduces the chance of the insured person dying during that time . Permanent insurance costs more because , if the policy is kept , is it sure to pay out upon death at any age .


Input: What The Average Cost Of Renters Insurance?

Output: Renters Insurance rates are based on two primary factors . # 1 - the amount of coverage required for two specific areas , and # 2 - the rating of the individual and location . Let 's look at # 1 first . Renters Insurance provides coverage for Loss , Theft and Damage for personal property of the insured , and a level of coverage for personal liability as well . The insured selects the coverage based on the amount of personal property they own . They can also choose to select either an Actual Cash Value policy or a Full Contents Replacement policy . The ACV policy will be less expensive , but will pay out less on a claim , as the ACV factors in depreciation of the item . On a Full Contents Replacement policy , the premium is higher , but the policy will usually pay the original purchase price of the item . Of course , both policies will subtract the deductible before paying out a claim . For # 2 , the rating factors , the insurance company will look at several items , such as age of the policy owner , how many adults are living in the property , if the insured individuals are smokers or non-smokers , the type of construction of the building , the safety and security features installed -LRB- if any -RRB- in the residence , any prior claims the insured may have on their record , and a few other items . The policy premium can be reduced based on the establishment of various discounts , such as Multi-Policy discounts . So the best answer I can give you is to talk to a licensed , professional insurance agent , and always get multiple quotes . Do n't just choose the cheapest quote however . Make sure you understand the differences between the underlying policies , how claims are handled and etc. . Just because one policy is less expensive than another does n't mean it is better .


Input: When Should I Start Long Term Care Insurance?

Output: It would be best to start Long Term Care Insurance when you are healthy enough to qualify for it and young enough to get lower rates . Also , LTC rates are rising at this time , so it is a good idea to apply before rates go up further . Most experts agree that applying by age 60 , if not sooner , is a good idea .


Input: When Should I Start Long Term Care Insurance?

Output: If you have health history in your family resulting in assisted living or nursing home confinement before the age of 70 , you should start considering long term care . Most financial planners that advise retirement prospects start addressing it at age 50 . But most Americans should purchase it no later than age 60 .


Input: What Does Level Term Life Insurance Mean?

Output: Term Life Insurance provides benefits only upon the death of the insured individual during the `` term '' . There are many reasons why a individual may chose to purchase a term policy instead of a whole life policy . The answer to your question is tied into the reasons why a individual purchased the coverage . Level Term Life Insurance policies generally have set periods of time -LRB- 10,20,30 years -RRB- where they will provide benefits , with level term premiums and benefits never change during the `` term '' or period of time that the individual is covered . There are also increasing/decreasing term life policies that are used to address different needs . The most common example would be a individual being contractually obligated to purchase decreasing term life when obtaining a mortgage . The policy would start out with death benefits equal to the mortgage , and decrease as the individual payed of the mortgage . The end result would be both the policy and the mortgage balance decreasing to $ 0 by the end of the period .


Input: What Does Level Term Life Insurance Mean?

Output: Level Term Life Insurance is term life insurance that is guaranteed to have the same premium and the same death benefit for a certain number of years . Most level term life insurance comes in terms of 10 , 15 , 20 and 30 years . Rather than having the premium increase each year as you age , the insurance company `` levels '' it out over the entire term , then locks it in so that you can continue paying that same rate even if you have a change of health .


Input: What Is Best Auto Insurance Coverage?

Output: The best auto insurance coverage is having no deductible on collision and comprehensive benefits , along with unlimited liability protection for your vehicles . Of course , this is not available from any carrier . So instead , work within your budget to select higher deductibles and ample liability limits ... perhaps 100/300/100 . An experienced full-time broker -LRB- preferably with a reputable website -RRB- is your best resource to shop and find the best options for you .


Input: What Is The Definition Of Term Life Insurance?

Output: Term life insurance is for temporary needs where the coverage duration is known and finite . Most term policies are available for periods of up to 30 years and may feature level annual premiums . There is no cash surrender value in most products -LRB- except for return of premium term -RRB- . At older ages , term rapidly becomes cost prohibitive and is generally not available for long durations . Term is a relatively simple product to understand and so affordable , it can fit most any budget . It is ideal in situations such as with young families who have a tight budget and need life insurance for protection for up to 30 years . For business situations , it is frequently used to fund buy-sell agreements to ensure the cash will be available for share purchases in the event of untimely death . For coverage that does not expire before you do , permanent -LRB- cash value -RRB- life insurance is more appropriate . Most term policies feature conversion without evidence of insurability to permanent policies later when they can better afford the premium for lifetime funding and coverage that can not be outlived .


Input: What Is The Definition Of Term Life Insurance?

Output: Term life insurance is a product that indemnifies yourbeneficiaries and/or business partners during defined periods of economic exposure . T.E.R.M. is Temporary ExpenseReimbursementMoney . It is generally sold in 5 years guaranteed increments like 5 , 10 , 15 , 20 , 25 and 30 years . Keep in mind that term life insurance should have a convertibility option in case your economic exposure becomespermanent .


Input: Can You Apply For Car Insurance Online?

Output: Buying online is possible but from my experience often has disastrous results . Unless you a veryknowledgeablein insurancecoverage ` sI do not suggest an online purchase . I have seen many who havepurchasedonline auto insurance thinking they had all the coverage they needed only to find themselves significantly under-insured in a claim situation . I highly recommend you consult with a local independent agent who canexplaincoverage ` sand shop forcompetitivepricing .


Input: Can You Apply For Car Insurance Online?

Output: You can apply for car insurance online with some , but not all companies . Often the carriers offering online applications , however , may have a higher rate than others . To compare the lowest car insurance rates online , use an experienced broker that will be able to shop for the best rate and coverage , and explain what options are best for you . Depending on where you live or the type of vehicle you drive , you may save quite a bit of money .


Input: Can You Apply For Car Insurance Online?

Output: It is absolutely possible to purchase automobile insurance online . I have found that the standard of care given to customers purchasing online tends to be minimal as price is usually the only issue . Even though I sell auto insurance , I myself have dialed the 1-800 insurance numbers and priced online and when they are quoting my insurance , I have never had anyone match my coverage 's . On the other hand , they have always reduced my coverage 's to match prices . You need to purchase your automobile insurance from the person that you will call when really bad things happen . Someone you can trust and depend on when you need them the most . Remember , all insurance policies are good until the claim hits .


Input: Why Do Some Apartments Require Renters Insurance?

Output: Why some apartments require renters insurance can vary . First , lets cover what renters insurance covers . It covers your personal property , your liability and medical expenses . Second , your liability and medical coverage are the parts that are most important to the apartment . This is because your liability insurance can be used to cover damage done to the building due to your negligence . For example , lets say you leave the stove on and you leave your apartment . Lets further say it starts a fire and causes damage to the building . The apartment 's insurance will pay for the damages , but then it will subrogate against your insurance -LRB- meaning it will make a claim against your renters coverage -RRB- . Therefore , many apartment complexes ' insurance companies will require that all the tenants have a renters policy so it can recoup any of its losses caused by the apartment complex 's tenants .


Input: When Was Medicare Part C Created?

Output: The passage of the Balanced Budget Act of 1997 is when Medicare Part + Choice , or Medicare Part C , was created . At this time , the choice was given to purchase Medicare Part C -LRB- Advantage Plans -RRB- in addition to traditional Part A and B. Medicare Part C is offered and administered through private insurance companies and and regulated by Medicare .


Input: Is Universal Life Insurance Fixed Or Variable?

Output: Universal Life Insurance , or UL , as it is written , is fixed . If you buy a Variable Universal Life policy , it will be labeled as such -LRB- or shortened to VUL -RRB- . You can not buy a Variable Universal Life insurance policy from an agent who is not registered with FINRA and licensed to sell securities . You can buy a UL from any agent licensed to sell life insurance .


Input: Is Universal Life Insurance Fixed Or Variable?

Output: Universal life insurance can be variable or fixed . They are simply two different types of Universal Life . Here are the basic definitions : Variable Universal Life -LRB- VUL -RRB- is a form of life insurance that can build cash value . The cash value can be invested in separate accounts -LRB- similar to mutual funds -RRB- and the owner of the policy gets to choose which separate accounts are chosen , within the scope of what that particular product offerings are . The word `` variable '' refers to the fact the owner can invest in accounts that vary in value such as stocks and bonds . This variable component results in the cash value in your VUL increasing above or decreasing below what you put in . Universal Life -LRB- UL -RRB- is a form of permanent life insurance where the excess in premium payments are credited to the cash value of the policy . If the cash value is referenced against a stock index such as the S&P 500 , it is called an Indexed Universal Life -LRB- IUL -RRB- policy . An IUL does not put your money in the market but rather references the performance of that market over a measured period of time -LRB- such as a year -RRB- and credits you with interest if the referenced index has increased . Typically , the cash value of an IUL will not decrease as the result of that market declining - they would simply not credit your cash value account with interest for that particular year .


Input: When Is Life Insurance Included In Your Estate?

Output: When you are calculating the value of your estate , you only count the cash value of your life insurance policies as an asset . After your death , the death benefit left to your beneficiary will be counted as part of your estate for federal estate tax purposes . However , if the beneficiary is your spouse , your estate will pass to them tax free . If any of the life insurance proceeds are left when the spouse dies , that is when they will be included in the estate . Of course , it is important to talk to a tax attorney for specific situations and advice . This is general knowledge and may not be accurate for your specific situation .


Input: Which Life Insurance Should I Choose?

Output: Everyone 's situation is different . What may be a good program for one person is not necessarily right for another . It is always best to sit down with a good independent life insurance agent and discuss your individual needs and goals . What is the purpose of the insurance ? Is it short term to cover certain debts or is it a long term need ? A good agent will put together a plan that is affordable and will cover the majority of your needs .


Input: Which Life Insurance Should I Choose?

Output: Life Insurance is a mortality product constructed to cover temporary -LRB- term insurance -RRB- or permanent -LRB- permanent insurance -RRB- financial liabilities . Is your financial liability temporary or perpetual ? Term life insurance is generally offered in increments of 5 , 10 , 15 , 20 and 30 years . Permanent life polices can cover you to age 121 and has five policy types : Participating whole life , guaranteed universal life , current assumption universal life , indexed universal life and variable universal life . There are three major planning categories for life insurance : indemnification , income and inheritance . First , determine which planning category you need . If the planning category is indemnification and/or inheritance then determine is the need temporary or permanent ? The solution is either term or guaranteed universal life insurance . If the planning category is income , life insurance can be a supplemental retirement alternative . Here 's some product alternatives : current assumption universal life insurance with three crediting methods : interest rates , indices and separate sub account performance using the lowest TAMRA compliant death benefit option . For income , you may also want to look at TAMRA compliant lowest death benefit , participating whole life , with a max term rider and a paid up additions rider .


Input: Does Health Insurance Cover Osteopathy?

Output: Most health insurance policies do cover osteopathy . To determine the exact details on how this may be covered under your health plan , you should read your policy , contact your insurance provider , or the agent that assisted with your enrollment . If you need a policy with better coverage , or lower out of pocket expenses for this treatment , an agent would be in the best position to help you weigh other options .


Input: Does An Above Ground Pool Affect Homeowners Insurance?

Output: It is not likely to have an effect on the premium but it is a critical item in underwriting . Pools are fun but people drown in pools . If the pool doesnt have adequate security , the underwriter will not want the risk . Pools are the focus of many law suits . The biggest exposure you have in a homeowners policy is lawsuit .


Input: What Is Utilization Management In Health Insurance?

Output: Utilization management guidelines/requirements in health insurance/managed care companiesare designed to maximize the effective use of health care resources in a cost effective manner . Such guidelines/requirements can apply to the provider of health care services and/or to the insured person . Depending upon the insurance carrier and the health insurance program you are enrolled in these guidelines/requirements may be either active or passive . This means in some cases they are more like strong suggestions with little or no negative consequences for non-compliance and in other cases the guidelines/requirements must be complied with for the services to be covered at the in-network level of benefits or to not be declined for payment . Utilization management is a far reaching term that can touch virtually every aspect of health care from physician care to prescription utilization . The objective is to establish a set of recommended best practices and steps in treatment to be followed when dealing with a person 's health problems . For example , you might be required to try a long established prescription medication that is now a lower cost generic to treat a condition and have to show that the desired results were not being obtained before you might be approved for a newer , name brand medication that treats the same condition but is much more expensive . Having certain procedures performed on an outpatient basis rather than requiring a hospitalization is another example . The bottom line is that utilization management protocols attempt to get the appropriate level of care in the most appropriate and cost effective setting to maximize the value of our health care dollars . Sometimes utilization management can be a complicating factor in a patient 's and/or doctor 's experience as it may require everyone to go through steps A , B , C & D rather than jumping right from step A in treatment to step D. But , with insurance costs continuing their relentless rise , the consumer should anticipate that utilization management will be much more prominent in their health care than ever before .


Input: What Do I Need In My 401K To Retire?

Output: Its going to be based on your total life time income projection . Generally speaking ! The best way to determine is go to some of the insurance companies or investment firms . Most all have on their sight a retirement calculator that you can play around with adding different combination of figures . That gives you a fare estimation of how much to plan for in retirement .


Input: Is National Benefit Life Insurance Company Legitimate?

Output: They are one of many insurance companies owned by Primerica . As a result , they carry a superior A + rating with AM Best -LRB- go to ambest.com for more information -RRB- . It is not a company with whom I have done any business but it is part of a corporate enterprise which is well known .


Input: Can An Illegal Immigrant Get Auto Insurance?

Output: Sure can ! In California , many auto insurance companies will offer coverage without regard to your immigration status . We have several carriers that ask absolutely 0 questions pertaining to immigration status so you would be able to purchase the insurance without any worries whatsoever of anybody finding out about your immigration status .


Input: Can An Apartment Complex Require Renters Insurance?

Output: Landlords are concerned about liability arising from your possession of their property . If a guest of yours slips inside the unit and is injured they will certainly sue you but may also sue the landlord . This is why the landlord often requires that you maintain a renters policy that will address suits arising from personal injury and physical damage . By having you secure a policy and name them as additional insured they are less vulnerable to lawsuit . Additionally , tenants rarely fully appreciate that if something happens to the unit and your personal property is damaged or destroyed , the landlord doesnt have any liability . If you have a renters policy there is some money available to restore what you have lost .


Input: Can An Apartment Complex Require Renters Insurance?

Output: An apartment complex may require it 's renters to provide proof that they have Renters ' Insurance coverage as a condition of the lease agreement . This is , of course , to protect their interest in the property and to limit their liability exposure . It is in your best interest to talk to your Insurance Professional about buying Renters ' Insurance regardless of the requirements of any apartment complex or building owner .


Input: Can An Apartment Complex Require Renters Insurance?

Output: An apartment complex , can , as a condition of their lease agreements , require that their tenants obtain and provide proof that they have purchases Renters Insurance . Look , it is in your best interest to talk to your Insurance Professional about buying Renters Insurance whether or not it is required by your apartment complex .


Input: Can An Apartment Complex Require Renters Insurance?

Output: Yes , an apartment complex can require renters insurance . The majority of them do . By requiring renters insurance , apartments are able to make sure that everyone living there would be able to pay for damage they caused through negligence , like a kitchen fire . This protects other tenants , as well as the apartment complex .


Input: Who Has To Pay A Premium For Medicare Part A?

Output: Most people receive Medicare Part A premium-free because they have been paying Medicare taxes during their working life and met the 40 quarters requirement -LRB- equates to 10 years of working life -RRB- . Anyone who does not meet the qualifications for premium-free Medicare Part A would have to buy the coverage - the premium for Part A is $ 426 per month . The premium-free Part A requirements are : 1 -RRB- You 're 65 or older and you 're receiving social security retirement benefits -LRB- or are eligible for receiving them , but have n't elected to take them yet -RRB- , or you or your spouse had Medicare-covered employment through the government . 2 -RRB- If you 're under 65 and have been receiving social security disability benefits for 24 months or have ESRD -LRB- end-stage renal disease -RRB- and meet certain requirements . So if you do not meet these any of those items , you 'll have to pay for the coverage . If you 're subject to paying the Part A premium and are under 65 , you may want to look at an individual health insurance plan on the health insurance exchanges instead . If you 're signed up for Part A , you 're likely signed up for Part B as well -LRB- Part B requires a monthly premium -RRB- . If so , I would suggest adding a Medicare supplement plan to cover the gaps in Part A & Part B. I hope the information is helpful - please feel free to contact me for assistance with your Medicare supplement programs and if you have any other questions . Thanks very much .


Input: What's The Problem With Annuities?

Output: I 'm not sure there are problems when the consumer is informed on what annuities will and wo n't do . Annuities can be a great tool for the ultimate goal of retirement income , but determining whether is it good for you will be determined by your particular situation as well as your wants and needs . Every financial product , every financial strategy has pros and cons how they will impact you is dependent upon your situation . If there is a more specific issue you 'd like to know about please let us know .


Input: How Much Is A Life Insurance License?

Output: If you are considering becoming a life insurance agent , it varies based on your state of residence . You should call or go online to your state 's department of insurance website and inquire . It will also depend on the lines of insurance your license will cover . In addition to the initial licensing fees by line of insurance , there may be related fees e.g. insurance exam and other costs paid to third-parties associated with the pre-licensing requirements .


Input: What Is Auto Insurance Property Damage?

Output: -- > -- > Normal 0 false false false EN-US JA X-NONE -- > -- > / * Style Definitions * / table.MsoNormalTable -LCB- mso-style-name : `` Table Normal '' ; mso-tstyle-rowband-size :0 ; mso-tstyle-colband-size :0 ; mso-style-noshow : yes ; mso-style-priority :99 ; mso-style-parent : '' '' ; mso-padding-alt :0 in 5.4 pt 0in 5.4 pt ; mso-para-margin :0 in ; mso-para-margin-bottom : .0001 pt ; mso-pagination : widow-orphan ; font-size :12.0 pt ; font-family : Cambria ; mso-ascii-font-family : Cambria ; mso-ascii-theme-font : minor-latin ; mso-hansi-font-family : Cambria ; mso-hansi-theme-font : minor-latin ; -RCB- In a vehicle accident both people and property are damaged . The people are covered by bodily injury limits of your auto policy . The property is covered under the physical damage limit . The most common property loss is the car that you hit . While there are larger items that you might hit , another car is the place where the physical damage limit is most often applied .


Input: What Is Auto Insurance Property Damage?

Output: Auto insurance property damage occurs when your vehicle hits another vehicle or object . Typically , your property damage coverage is between $ 7,500 and $ 100,000 , depending upon the state where you reside and the carrier that covers your autos . Of course , you should always consider at least $ 50,000 of property damage coverage on your vehicles .


Input: What Is Auto Insurance Property Damage?

Output: Depends upon which property damage part you are looking at and which state you live in . I will speak first to the common elements of property damage . Property damage covers direct physical damage to another persons property caused by your automobile . This limit is usually set high because it is trying to cover damage to large objects , like buildings and bridges . Property damage can also be in a no-fault state for `` property buy-back damage '' which refers to the mini-tort . This means you can pay the sub-limit deductible to have the other parties insurance pay for your property damage -LRB- please note that in no-fault states your insurance normally pays for the damage to your car -RRB- .


Input: Does My Husband Have To Be On My Car Insurance?

Output: The answer is yes , unless your husband has coverage on a separate auto insurance policy . In Wisconsin at least every person in the household must be listed on an auto insurance policy or they must be listed on anouther auto insurance policy . Typically having more than one person listed on a policy will lessen the cost of coverage as opposed to having seperate policies . Contact your local agent to find out the premium difference between a combined policy and individual policies .


Input: When Is Life Insurance Not Worth It?

Output: There are wealthy people in the world who choose to self-insure based on the liquidity position of their financial holdings . In the ideal and unreal world of the affluent , you dont need life insurance because you have no financial liabilities , you leave you assets to heirs and charities and you dont care about economic leverage and tax favored treatment of the death benefit proceeds . In the real world of the wealthy , most care about every item on this short list .


Input: Does Escrow Include Home Insurance?

Output: When the home goes through escrow , the lender will require that the buyer include payments for property insurance to an impound account if the loan is non-conforming . When a house is refinanced there can be communication problems with the home office of the insurance company , particularly if the buyer is replacing a conforming loan with a non-conforming loan and fails to tell the insurance company that the mortgage company will be paying future premiums . When the insurance company doesnt know , they dont send out a bill and the policy can lapse .


Input: Does Escrow Include Home Insurance?

Output: The term ` Escrow ' has a double meaning . Escrow is utilized mainly in the Western States as the legal process of closing the purchase or refinancing transaction of real property ; Escrow Companies exist to facilitate the purchase , sale & refinancing of real property transactions . In States where Escrow Companies are not used , Mortgage and Title Companies utilize ` Closing Professionals ' to facilitate the same process . During the Escrow/Closing process , if a mortgage is involved , it is customary for the mortgage lender to require that all taxes are current and property insurance is paid in full for the first year . Escrow companies will be charged with the fiduciary responsibility to assure the mortgage company upon funding that both conditions have been met and proven . The term Escrow is also used synonymously with a Mortgage Impound Account which is simply a savings account setup for the purpose of saving funds in preparation of making payments to renew property insurance and property taxes ; a mortgage company or bank will simply calculate the necessary amount to be deposited into the Escrow/Impound account monthly in order for a shortage not to exist when future property tax and future property insurance invoices are presented . The monthly calculation usually involves the addition of the annual property tax and the annual property insurance , a 10 % safety buffer is added , then the total is divided by 12 . The account is an interest bearing account and an annual assessment summary is sent to the mortgage holder at the end of each year . There is usually no charge associated with having this account ; it is simply to facilitate payments without the burden of a large obligation at one time for the mortgage holder . It is important for homeowners to understand the escrow and/or impound process as there seems to be many misconceptions of how the process works . It is a very simple process but the most confusing to the ley person is the fact that he/she is actually depositing a monthly savings amount into an account which will pay future invoices presented . Property Taxes are generally invoiced twice a year and Homeowners Insurance is generally invoiced once a year ; money is saved on a monthly basis in order for the funds to be present when the invoices arrive . For a further and/or more detailed explanation , you may wish to contact your Real Estate , Mortgage and or Escrow/Closing Professional directly .


Input: Does Escrow Include Home Insurance?

Output: An escrow account that may be set up by your mortgage company may or may not be for the purposes of collecting and holding insurance premium for renewal payments . Some banks set them up for taxes , others do include insurance . If insurance is included , and you need to ask your mortage company if it is , then they will be billed for your future renewal payments by your insuring company .


Input: Which Company Is Best For Health Insurance?

Output: It 's impossible to answer which company is best for health insurance without first knowing your specific situation . Some people are looking for catastrophic coverage at a low cost while other people want more comprehensive coverage or may need to be sure certain things are covered likebrand-name drugs . . So it really depends on you - and your best bet is to speak with a licensed agent .


Input: What Is Blanket Life Insurance?

Output: Blanket Life Insurance is life insurance that coves a group of individuals while they are temporarily exposed to a common hazard . E.g. a blanket life insurance policy might be use to cover passengers on a commercial flight , sports teams for while they are participating on the team , newspaper carriers while they are delivering papers , etc. . The blanket policy does not cover this group outside of the event for which the blanket policy was purchased .


Input: Is An Equity Indexed Annuity A Variable Annuity?

Output: In Canada , viable annuities are typically called segregated funds . They are also sometimes called GIFs or Guaranteed Investment Funds . Similar to mutual funds , but with guarantees The investment could mirror an Index and as such the performance could be considered to be Equity Indexed . Annuities can be complicated . An independent life insurance broker can help you find the plan that is right for you . If you have further questions or feel that I could be of assistance , please do not hesitate to contact me .


Input: How Much Are Annuities Paying?

Output: Presently , fixed annuity rates are paying 2.95 % guaranteed for five years and 3.25 % for ten years . The spread is only 35 basis points for double the time period . Not a good deal for consumers if rates go up . And keep in mind that ten year annuities generally have heavy surrender charges , so it would be punitive to move them in a rising interest rate market .


Input: Does Medicare Cover EGD?

Output: Esophagogastroduodenoscopy -LRB- EDG -RRB- is considered a covered expense under Medicare . However , if you are not on traditional Medicare and you have either an advantage orsupplementalmedicareplan than you will want contact your benefits verification hotline -LRB- on your cards -RRB- to not only make sure , but see how your benefits are covered . For more answers to similar questions please visit www.clminsure.com or call 561-320-2978


Input: Does Warren Buffet Own Whole Life Insurance?

Output: Ownership of a life insurance policy is generally not public information . One of the virtues of life insurance is that it can shield some of the prying eyes from looking at the content of the estate . The insurance passes outside of the estate . The person you question is generally considered to be a wise man and I believe that he owns a life insurance company or two . If he believes in the product that he sells , he probably buys it as well .


Input: Does Warren Buffet Own Whole Life Insurance?

Output: Life insurance is generally used to fill a specific need in case of death of the insured . Just a few reasons may be to replace income lost , to provide for dependents college education , to ensure a home mortgage will be paid , to provide a business partner capital to continue the venture , or to pay for funeral expenses . I suspect Mr. Buffett has enough money in the bank to satisfy these needs when he passes on . He may not have a need for life insurance .


Input: What Is The Best Health Insurance For Kids?

Output: The best health insurance for kids may vary , depending upon your household income and the state where you reside . Typically , a subsidized `` Silver '' , Gold or Platinum plan will provide the best benefits . CHIP and Medicaid may be available , and should be considered if you qualify . Premiums , of course , will be very low . Thanks to the passage of the `` Affordable Care Act , '' young adult and chldren 's policies are extremely affordable , and often feature premiums less than $ 50 per month , thanks to the federal subsidy . Live answer provided by : Ed Harris - Premier health insurance broker since 1980 , and owner of several of the nation 's top-rated consumer websites that offer the lowest available rates .


Input: What Should I Look For In Homeowners Insurance?

Output: The best and most honest single piece of advice when selecting a Home Insurance Contract is to make a list of items most important to you , do not place yourself in a situation where you have to make a rushed decision and always place the cost -LRB- Premium -RRB- -LRB- $ $ $ -RRB- as the last item of importance . Having stated the above , more than 90 % of homeowners simply call two or three insurance carriers in a rush to obtain a quick quote thereby comparing the 2 or 3 prices quoted and rush to purchasing a new home insurance policy . Coverage is the primary purpose of the insurance policy ; there are a variety of coverage items that conclude an insurance contract . The Dwelling , Other Structures , Personal Property , Additional Living Expenses -LRB- Loss of Use -RRB- , Personal Liability & Guest Medical Payments . In the event of a loss , each of the coverage items suddenly becomes very important to the homeowner ; for this reason , when purchasing a policy it is important to take the time to review coverage . A thorough review should n't take you more than an hour and it should n't be necessary every year unless there has been a change in insurable interest . The policy should cover your property on a replacement cost basis , you should review any additional available endorsements and make sure that your coverage limits are sufficient to protect you in the event of a loss . If after your thorough review , you feel that the premium is too high , it may be advisable for you to reduce the carrier 's risk by increasing your deductible thereby reducing the premium . There is a link available providing an online format to obtain a quote and buy home insurance online in multiple States ; it may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: Does medicare limit the number of echocardiograms one can have in any given amount of time?

Output: Medicare will cover an echocardiogram if your doctor orders it for diagnostic purposes . An Echo is covered under Medicare Part B. Medicare will pay for about 80 % of the costs after the Part B deductible is met -LRB- $ 147 in 2014 -RRB- - you would be responsible for the other 20 % and the Part B deductible . When you first enroll in Medicare Part B , you open your 6-month initial open enrollment period to buy a Medicare supplement plan -LRB- a.k.a. Medigap plan -RRB- with NO MEDICAL UNDERWRITING ! . A Medigap plan can cover the deductibles and a portion or all of the other 20 % of expenses covered by Part B and features a number of other big advantages as well . An experienced Medigap broker can help find the Medigap plan and carrier that 's most suitable for you and your budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: What Happens To Life Insurance During Divorce?

Output: It will depend on how the divorce is structured . As an Insurance Agent and not an attorney I wo n't attempt to tell you what the laws says regarding divorce . What I will offer is some suggestions as to what could happen ; 1 -RRB- Nothing - present insurance in force prior to a divorce does not change because of the divorce 2 -RRB- Judge assigns insurance policy - a judge could order that the beneficiary for the policy be changed to support a divorcing spouse or children . He could also issue instructions as to how the cash value of a policy is to be distributed . I would consult an attorney for a more detailed answer .


Input: What Happens To Life Insurance During Divorce?

Output: The court decides what happens to life insurance during divorce , or you can work it out with the spouse from whom you are being divorced . If the need for the life insurance policy still exists , you may need to change the beneficiary of the policy . If the owner of the policy is no longer appropriate , you may also need to agree to change the owner . E.g. . The policy was purchased to pay off the house , the owner of the policy is the husband , but the house is going to the -LRB- soon to be ex -RRB- wife .


Input: What Happens To Life Insurance During Divorce?

Output: One of two things happens with in force life insurance policies during a divorce . The judge can order amounts and beneficiaries to cover alimony , marital debt or child support payments in case of the early death of one or both spouses . The second things that if the court makes no ruling is nothing . You may keep your plan , cancel your plan or change your plan . The one thing most divorcees need to consider is to change the beneficiary . I have personally worked on a nightmare case where an ex-spouse was left as beneficiary and the new spouse received nothing after the death . Not something you want to forget about , especially when it is too late .


Input: What Happens To Life Insurance During Divorce?

Output: If there is no divorce decree reassigning policy benefices , owners or insureds , then nothing changes . But it should if financial liabilities or future obligations have changed . Cash Value life insurance is personal property and should be included in the list of assets for divorce dissemination . WEBSITELINK may dictate the policy re-titled areas of policy owner , beneficiaries and maybe even the insured .


Input: How Long Should I Keep Term Life Insurance?

Output: My advice is to keep your Term policy until the time when premiums go up -LRB- usually , at the end of the term -RRB- . The exception would be if your health improved , you lost a lot of weight , quit smoking , or something else that would allow you to get a better rate on a new policy . Once the rate jumps up and goes into annually renewable term , the price gets so high that it is unsustainable for long . Some situations that might prompt you to keep it for a while is if you are terminally ill or have a very short need for which buying a new policy would be more of a hassle than it is worth . It is far better to convert the policy before the price jumps up and the conversion privilege ends . You will get a lot more for your money to convert it to permanent than pay the annually renewable rates . As far as dropping your Term policy when the need ends , one need usually replaces another , and when that good rate is gone , it is gone . You will be surprised at how much more it will cost you to get that coverage back just due to being older . If you have been diagnosed with a serious health problem in the meantime -LRB- and is n't that why a lot of people seek life insurance , because they have just been faced with their own mortality -RRB- , you may not be able to get a new Term policy at all . So I would give it a lot of thought before dropping any Term policy unless it is to get a better policy at a lower rate , or to switch it to something permanent .


Input: How Long Should I Keep Term Life Insurance?

Output: Term insurance is temporary insurance , so by definition , if one buys term insurance , they will either drop the coverage oneday or convert it to permanent insurance . You should keep your term insurance for as long as it protects the risk you originally purchased it for . If your risk diminishes , you can lower coverage accordingly and reduce premiums even further . People confuse term insurance for cheap insurance . Although less expensive than permanent insurance , its costs increase as we age . It is counterintuitive but this is the reality I run into as an experienced insurance broker . People buy term insurance in their 30 's and 40 's thinking they will drop coverage in their 50 's . In their 50 's , they extend coverage into their 60 's . In their 60 's , they now realize if they drop their insurance , they are disinheriting their children of a very large asset , so the conversation reverts convert to permanent insurance . This happens more often than not .


Input: How Long Should I Keep Term Life Insurance?

Output: Term life insurance is a mortality product to protect the policy insureds beneficiaries from economic liability . If that liability is a time certain event , than the period of term life insurance protection should reflect that . So , you should keep your term life insurance until the economic exposure is eliminated .


Input: How To Redeem Bajaj Allianz Life Insurance Policy?

Output: All Life Insurance companies have similar processes which to withdraw or take a loan on the cash value within your life insurance policy if available . First note that if you do a total surrender , then you will no longer have Life Insurance in force . Please look at all your options before totaling your policy . Request a withdrawal/surrender form from your agent or directly from the company . Fill this out and mail/fax it back . If there is any monies available , you should receive that check within 5-10 business days .


Input: What Does Home Insurance Cost?

Output: There are several types of homeowner 's insurance . The most common is the HO-3 or `` all-risk '' policy . Most companies provide coverage based upon the estimated cost of replacing the buildings on the property . A variety of factors affect the rate charged by the companies for comparable coverage . A primary concern is the location of the property , another is the history of previous losses , another is the availability of fire protection , and then there are many additional considerations including the use of the building , the presence of animals , the proximity to the ocean and many others . It is a complicated process .


Input: Does Life Insurance Cover Death By Cancer?

Output: Yes , Life Insurance does cover death by terminal illness . Life Insurance policies have a clause for an accelerated payment and waiver premium if the policyholder becomes terminally ill which can help to pay for the medical treatments . There is also insurance for critical illness which pays for treatments and is distributed in cash lump sum tax free or by treatments . The protection is for Heart Attack , Stroke , Kidney Failure , and Cancer . Due fp the statistics 1 in 4 will suffer from these diseases in their lifetime and will need financial security for treatments and to protect from loss of income .


Input: Does Life Insurance Cover Death By Cancer?

Output: Yes it certainly can . The application will include questions regarding your health history and current health status . If the policy is medically underwritten , then your Doctor -LRB- s -RRB- will be contacted to provide a detailed attending physician 's report used to substanciate your health and history . You need to work with your Insurance Professional and ask specifically about any pre condition clauses or contract limitations with regard to pre existing conditions . But if you were underwritten for and received a Life Insurance policy and met all of the conditions of the company issuing it at the time , and then years later were diagnosed with cancer , baring any other circumstances , if you died as a result of your illmess , the company would pay the proceeds to your designated beneficiary .


Input: Does Life Insurance Cover Death By Cancer?

Output: Yes , life insurance covers death by cancer . A person who purchases a life insurance policy must honestly present their health details at the time of applying , and the insurance company may order medical records . After that , the policy is approved to cover death by all reasons , except suicide in the first two years . Sometimes people will opt for a rider that excludes death due to being a pilot . But there is rarely an exclusion for cancer . Unlike Accidental Death Insurance that covers only accidental death , Life Insurance covers death by all accidental AND natural causes , including cancer .


Input: Questions To Ask When Considering Life Insurance?

Output: Some questions you might ask when considering life insurance are : 1 -RRB- What is the rating of this company ? 2 -RRB- Are the rates guaranteed not to go up ? 3 -RRB- Does this policy have cash value ? If so , please show me an illustration . 4 -RRB- Will you be working with me if I need any assistance with my policy in the future ? 5 -RRB- What happens when the terms ends ? -LRB- if buying Term insurance -RRB- 6 -RRB- What riders are available for this policy ? 7 -RRB- How do I borrow from this policy ? -LRB- if buying Whole or Universal Life -RRB- 8 -RRB- What policy has the best rates for my health ? 9 -RRB- May I also get coverage for my spouse ? 10 -RRB- What if I want to drop this policy in the future ? There are many other questions you could ask , but these are some common ones that people ask me . This assumes you know how much coverage you need , and what type . Otherwise , those are also questions you will want to discuss with your agent .


Input: Questions To Ask When Considering Life Insurance?

Output: That is a great question ! The things that you want to know going in - what do I want the insurance to do ? -LRB- cover funeral expenses , leave an income , cover expenses , pay estate taxes , etc. -RRB- How long do I need it for ? -LRB- short term , or long term goal ? -RRB- How much can I safely afford to spend ? -LRB- what you want may not be what you can afford -RRB- For the agent , you want to know - how financially stable is your company ? Are you independent ? -LRB- a captive agent can only give you quotes from one company -RRB- and Who is your insurance with , and why ? I hope that helps ! Thanks for asking !


Input: Does Homeowners Insurance Cover A Hot Water Heater?

Output: Many insurance companies offer separate plans that cover the breakdown of mechanical systems in the home . The are designed to help you keep their home running smoothly . The plans provide coverage for unexpected financial losses due to the breakdown of covered major appliances , heating , air conditioning , plumbing and electrical systems . They help provide coverage where homeowners insurance does not .


Input: Does Homeowners Insurance Cover A Hot Water Heater?

Output: Homeowners insurance does not cover the replacement of an old hot water heater but it MAY cover damage caused by a leaking hot water heater as long as the home owner is not found to have neglected the normal maintence of his home which does include replacing your water heater before it rusts through .


Input: Is Buying Term And Investing The Difference Better Than Cash Value Life Insurance?

Output: Video Transcript : Hello everyone , I 'm Steve Savant , syndicated financial columnist and host of the weekly online talk show , Steve Savant 's Money : The Name of the Game . I 'm answering questions from insurancelibrary.com and today 's question is , `` Is buying term and investing the difference better than cash value life insurance ? '' Well , when I 'm looking at buying term and investing the difference , what am I investing it in ? And is that a risk area ? And if I 'm looking at permanent insurance , am I looking at guarantees and guaranteed returns ? Am I looking at using indexing ? Am I looking at risk-based insurance , like variable ? When I put those two together , I want to look at both of those plans and to see which one comes out the best . We have programs that we 've developed that will measure , is it better to buy term insurance and invest the difference in whatever product line you want to think of , whether it 's mutual funds or ETF 's . Or is it better to keep it inside a contract for the tax deferral and the possible tax-free income ? You can compare those things and always know which way to go with a simple program that will measure it for you . Well , that 's our consumer question for today . If you have any questions , submit them to www.insurancelibrary.com .


Input: Is Buying Term And Investing The Difference Better Than Cash Value Life Insurance?

Output: Buying term life insurance is the mantra of A.L. Williams . It has been repeated by Primamerica to Dave Ramsey , an old A.L. Williams guy . I believe that everyone 's situation is unique and you should purchase the life insurance product that makes the most sense for you and your loved ones . I will answer your question with a US government statistic . Over 50 % of the US work force has less than $ 2,000 in a retirement account and 67 % have less than $ 50,000 saved in a retirement account . If this theory worked , these numbers would not be so high . Reality is the difference between buying whole life or universal life versus term life insurance is typically $ 50 per month . How many people actually invest the $ 50 per month into a retirement account ? According to Uncle Sam , not many . If you have that discipline to invest the difference then that may be the correct strategy for you . If you lack that discipline , then cash value life insurance is probably your best strategy . There is no such thing as one size fits all . Beware of entertainers giving advise to the masses . Find a trusted advisor that will sit down and map out the best strategy for your unique situation .


Input: Does Renters Insurance Cover Fallen Trees?

Output: It may , it depends on the cause of the fallen tree . If the fallen tree was caused by a covered loss then your loss may be covered possibly less your policy deductible . Please remember every policy is different . 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 it with you .


Input: What Is The Best Cancer Insurance Policy?

Output: Having excellant health coverge is a great start as it would cover most if not all of your expenses . There are some companies that offer coverage for cancer only or a heart attack only . US Health Advisors offer MedGuard which covers all critical illiness such as cancer , heart attack , stroke , kidney failure etc. . As a stand alone product or part of health plan policy MedGuard will pay a lump sum to you directly to use at your discretion . You could use it to pay your deductible and co insurance and still have a balance to put towards personal expenses while you recover .


Input: How Much Should I Pay For Whole Life Insurance?

Output: It seems to me that you are looking to maximize value . That is best done by carefully selecting the agent with whom you can work . The agent should listen carefully , offer sound financial advice and communicate clearly with you and with the insurance company . The agent will determine the length of time that you require coverage . The agent will determine what your personal risk tolerance level . The agent will determine what amount of insurance you need now and at different periods of your life . The agent will select a company that can do what you want done at a price you can afford .


Input: How Much Should I Pay For Whole Life Insurance?

Output: The smallest premium I have seen for a life insurance policy is $ 15 . The highest is in the millions . The amount of coverage that you can get for any given premium amount depends on your age , health history , tobacco use , gender , height-weight , etc. . The biggest factors are how much coverage do you need ? And how long do you need it to cover you ? Whole-life insurance is much more expensive then term because it will always pay a death benefit no matter how old you live as long as you pay the premium . Term is temporary insurance and is much less expensive then whole-life because it will rarely ever pay a death claim . Most people do n't die at a young age and drop their term policy long before they get to the age when they are likely to die . You can always pull up free rates for term life insurance at WEBSITELINK Your independent agent can help you understand which companies will approve you .


Input: How Much Should I Pay For Whole Life Insurance?

Output: In my opinion , you 're asking the wrong question . If you contact ten different companies , you 'll get ten different rates for the same coverage . That does n't mean the one with the higher premium is n't as good a program . It might have the best provisions for your particular situation . Besides , every company will tell you that they have the best product . The question you should be asking is `` Do I have an agent who I trust to do the best thing for me and my family ? '' Every situation is different and a good agent will have the resources to find the best combination of programs that fits yours . It may be all whole life or no whole life or some combination of different programs . I would begin by asking questions and finding out how much you need , how long you need it for , and your budget . The program you begin with will , most likely , change as you get older and your circumstances change . Be smart and find a good agent who cares more about your family than he/she does about their next commission check . Then , listen to them , and do what they recommend . You and your family will be much better off .


Input: How Much Should I Pay For Whole Life Insurance?

Output: When you buy life insurance the costs of the insurance policy is reflected by the company 's ability to control costs and invest the premiums collected and to manage the investments of the company in a reasonable manner . There are varying rsults when you inspect a company 's investment results and their ability to control costs . Yur costs are calculated based on your age , height , and weight and if you skydive or drive mud bikes or other hazardous habits that increase your possibility of an early death . If you smoke you drive up your costs significantly


Input: How Much Should I Pay For Whole Life Insurance?

Output: Samuel is correct on all points . True Whole Life Insurance can only be offered by a mutual insurance companies that pay dividends into the policies . Often times Universal Life is marketed as `` whole '' life , so read the policy carefully . Fixed Universal life is a good product but will likely not have the cash value growth of a mutual whole life


Input: How Much Should I Pay For Whole Life Insurance?

Output: That is a wide open question . Pricing varies depending on age , health , line of work and activities . You need a Life Insurance Agent you can trust and a company you can trust . New York Life is the oldest , largest , highest rated Life Insurance Company in America .


Input: How Can You Get Cheap Car Insurance For Young Drivers?

Output: The obvious answer is to check with several local insurance agencies for pricing evaluations . Insurance prices are often a serious issue for many families , of course . There is definitive sensitivity to family budgets , However , being driven by the lowest prices is going to result in purchasing low liability limits . Think in terms of each young driver having at least one at-fault accident in the next 12-18 months . Then think how much damage might occur , in each occurrence . Let 's say your first young family driver , due to inattentiveness - -LRB- remember when you were a young driver ? -RRB- - rear-ends a fairly new mid-priced automobile , causing $ 5,000 in damages . Worse , the driver of the other vehicle claims to have sustained neck and back pains , goes to an attorney and starts the process of accumulating medical expenses . Not uncommon at all . Now , add an alleged injured passenger in the car that was rear-ended . Do some quick math as to the possible costs and keep that number in mind when considering how much you might have to pay out-of-pocket , based on the low liability limits that you are weighing , to save money on the premium .


Input: How To Earn Medicare Credits?

Output: In order to gain `` medicare credits '' you have to work in covered employment where you are paying into the social security system . In order to fully qualified for medicare you have to have 40 quarters of covered employment . What happpens if you have 35 quarters ? You have to pay premiums into social security to meet the eligiblity rules for medicare


Input: Why Are We Required To Buy Car Insurance?

Output: I can only think of two institutions that actually require car insurance . First , if the state in which you live and register your car has a law that imposes such a requirement in order to register it . Second , if you buy a new car with a lien or lease a new car , the financing company will imposes requirements for insurance . Now , that having been said , it still makes good sense to buy car insurance even if either of those two reasons are not imposed . Car insurance protects you in the event it is stolen , damaged in an accident or otherwise affected . But further , it provides important financial protection in the event you cause an accident and are held liable for any injuries or damage that result from that accident .


Input: Why Are We Required To Buy Car Insurance?

Output: The reason you are required to have insurance is because in the event of you causing injury or damage to someone else . Your insurance pays for that . Now there is such a thing as self insured which means you can afford to pay for all damages yourself . but the thought can be quite frightful , Example you plow into a school bus full of children because your tire blew and you killed a bunch of children would you be willing to risk everything you own to pay for the damages ? That is why you have insurance is to cover damages to others . On the flip side that also covers you if you have un insured and under insured coverage 's so that if someone hit you and has no insurance then your medical bills are covered also