Input: What Is Replacement Cost For Home Insurance?

Output: One of the most common ways to explain ` replacement cost ' in a homeowner insurance policy is to compare it to ` actual cash value ' or ` fair market value ' . Using these common insurance terms , in a homeowner policy , actual cash value is the replacement cost of a home or personal property less depreciation . In the event of a covered homeowner policy loss , ideally you would rather have the loss amount covered in full and not subject to depreciation . This is especially important since , in the event of significant damages to the dwelling , construction cost are always escalating and could render your loss payment to a very low amount , compared to what will be the actual cost to repair the damages .


Input: Is Long Term Care Insurance The Same As Long Term Disability Insurance?

Output: Long Term Care Insurance exists to pay for the care needed when the insured persons can no longer take care of themselves . To receive a long term care benefit , they must show that they can not do at least two ADL 's -LRB- activities of daily living -RRB- on their own , and it is usually required that the condition is anticipated to last for at least 90 days . It also will pay due to cognitive impairment that interferes with the ability to care for themselves . Disability Insurance does not require that you can not care for yourself in order to start receiving benefits . It just requires that you can not do your job . While Long Term Care benefits are chosen based on the cost of health care in that region , Disability benefits are based on the income brought in by your job .


Input: Is Long Term Care Insurance The Same As Long Term Disability Insurance?

Output: No these are two distinct policy types , although the claims triggers are sometimes similar . Long term disability replaces a portion of income during the time you are unable to perform the duties of your primary occupation because of a covered medical condition . Long term care insurance makes benefit payments to providers when you are unable to care for yourself . Claims triggers are based upon your inability to perform activities of daily living such as eating , dressing , transferring , toileting , and bathing .


Input: Is Long Term Care Insurance The Same As Long Term Disability Insurance?

Output: No , actually these are two different types of insurance policies that cover two totally different events . Long term care insurance covers an individual in the event that they can no longer care for themselves . LTC pays for home health care , assisted living and nursing home care usually as a person ages . These policies should be considered in your late 50s or early 60s . Long term disability is an insurance policy that replaces earned income over a long period of time such as 10 , 20 , 30 years or age 65 or 67 years old . These policies should be purchased when the person goes to work for a living and carried until retirement age .


Input: Is Long Term Care Insurance The Same As Long Term Disability Insurance?

Output: Long term care and disability insurance are morbidity products . Long term care insurance indemnifies or reimburses your cost of assisted living and / or nursing home care . Disability insurance indemnifies periods when you ca n't work because of ongoing sickness or recovery from an injury by paying a monthly tax free income .


Input: How to get health insurance in California

Output: To obtain health insurance coverage , you may contact an agent that is licensed in California . Some agents may sell health insurance for different companies , while others may be restricted to only one company . Or , you may go online to the health companys website . To obtain the most accurate quote , have ready your residence address , the age or date of birth of everyone needing insurance , and possibly a list of any major medical conditions that may effect your policy . If you have a preferred health care provider , be sure that the plan you are looking at is accepted by your doctor and hospital that you prefer using . Once youve decided on where you want your coverage from and what you want covered , you will need to submit an application . Most companies do these online or over the phone . Expect the application process to take anywhere from 10 minutes to an hour , depending on questions asked and the answers provided . Information needed will include names , dates of birth , social security numbers , drivers licenses , medical conditions and a list of current medications . Some companies will follow up with reports from your health care providers . Once all information has been reviewed by the health insurance company , a policy will be sent . In some cases a counter proposal may be sent . Your insurance agent will go over the proposal with you and will let you know what steps need to be done to complete the policy .


Input: How To Save On Homeowners Insurance?

Output: Talk to your Insurance Professional about your policy and your company 's discount offerings . If you insure both your home and car with the same company , you may be able to earn a multi policy discount . Some companies add an additional discount if you also have life insurance and a Personal Umbrella Liability policy as well . Find out if your company provides discounts for sertain home improvements liek a new roof or upgrades in your heating , electrical or plumbing .


Input: How To Save On Homeowners Insurance?

Output: If you are looking to save money on your homeowners insurance the first thing that I would suggest would be to have both home and auto policies with the same carrier if they are not already there . Having both policies with the same carrier will normally provide you with discounts on both policies .


Input: When Is Life Insurance Paid Out?

Output: Life insurance is paid out upon death and you will have to provide a death certificate from the coroners office . There are options on how to receive the death benefit whether it 's lump sum or paid out over a period of time . It 's best to have this setup in advance so your family will be taken care of . Obviously a death of a loved one is trying during a period of time and this could all be taken care of prior to death . As the insured or owner , a policy can be surrendered thereofre terminating the policy if there is any cash value in the policy . You may also take out a loan on the policy if there is cash value .


Input: When Is Life Insurance Paid Out?

Output: The death benefit from a life insurance policy is due on the date of death . The company forwards the funds to the beneficiary as soon as the death is confirmed . Depending upon the age of the deceased and the situation surrounding the death , there could be some delays but generally , the company wants to get the money into your hands as quickly as possible .


Input: When Is Life Insurance Paid Out?

Output: When an insured dies , the beneficiary making the claim on the policy will need to send in a completed claim form and a copy of the death certificate -LRB- some carriers may have an additional form - varies by carrier -RRB- . Once these items are received by the carrier , they will pay out the claim to the beneficiary . So , in short , it just depends on how long it takes the beneficiary to make the claim and send in the necessary paperwork . From there , I would expect it to take the carrier a couple of weeks for them to process everything and send the proceeds to the beneficiary .


Input: When Is Life Insurance Paid Out?

Output: Life Insurance is paid out like stated , upon death . The other way Life Insurance can pay out is from a permanent policy , taking loans and withdrawals of the cash value which has grown . Of course this would have to be with a permanent policy which is funding enough to grow cash value for future use .


Input: What Is Split Dollar Life Insurance?

Output: A split dollar arrangement generally split between two parties : In business split dollar plans , either a collateral assignment or cash value endorsement strategy is used between the employer and the employee who can share differing aspects of the premiums paid , death benefit coverage or acculturated cash values . Life insurance split can also be between a trust and a person with similarities in the structural arrangement of a business .


Input: What Is Split Dollar Life Insurance?

Output: Split dollar life insurance refers to the method of funding the life insurance ; it is not a type of life insurance policy , as split dollar can be used with a variety of life insurance policies . The owner of the policy splits the life insurance premium with someone else . When the Insured person passes , the death benefit can be used to reimburse one of more of the persons who paid the premium , then the remainder goes to the beneficiary . Businesses often use split dollar life insurance as a way of providing life insurance coverage to older persons for whom the cost of life insurance is high , or as a way to fund a buy-sell agreement that passes the business from one generation to another .


Input: What Is Life Insurance Surrender Charge?

Output: In a whole life or Universal Life policy there are surrender charges . An insurance policy costs the insurance company a great deal of money to issue . Agent commissions , underwriting , and a host of other administrative charges . As a result the surrender charges are placed to help discourage a policy holder from cashing in a policy before those expenses can be recouped . This can be anywhere from three to 15 years depending on the company . They will usually reduce each year until they disappear . They are only taken out of the accumulated cash value if you surrender the policy , otherwise you really never see them . They are not charged if the company has to pay the death benefit .


Input: What Does Term Life Insurance Not Cover?

Output: Term Life Insurance covers death by any reason , be it natural -LRB- illness or old age -RRB- or accidental . It does not cover suicide during the first two years of the policy , and most Term policies exclude death occurring during the commission of a felony and a few other obscure exceptions .


Input: What Does Term Life Insurance Not Cover?

Output: That is a great question ! There seems to be a lot of confusion about what policies cover what . Here is a simple breakdown : Accidental death policies only cover death by accidents , so no sickness , heart attacks , etc. . Graded -LRB- or modified -RRB- policies cover anything , but only pay out the full death benefit after the graded period has elapsed -LRB- generally 2-3 years -RRB- . Term and whole life policies will cover anything , but there can be issues if the death is suicide , or indicative of misrepresentation during the first two years of the policy . Term policies do not cover anything , once the term period has ended . I hope that that helps clear it up for you , please feel free to contact me if you have more questions . Thanks for asking !


Input: What Does Term Life Insurance Not Cover?

Output: Term life insurance policies have what is known as a contestability period of two years . This two year period allows an insurance company to investigate a cause of death . If the cause of death is a suicide , they will not pay . If they find an omission of health or lifestyle condition on the application and it contributed to the cause of death , they can decline the death claim . After two years , if all the information was true and complete and the cause of death is not specifically excluded , such as `` act of war '' , then every cause of death should be paid .


Input: What Does Term Life Insurance Not Cover?

Output: Interesting question . Makes me wonder if the above answers address what you meant to ask . So the points covered above are mostly what term life insurance does cover . What term life insurance does NOT cover is the risk of death after so many years as specified in the contract . Hence the `` Term '' In the name . Also term insurance ca n't be purchased for a person of 80 or the latest 85 years of age . Term insurance has no cash value so it does n't `` cover '' the need for a guaranteed tax-free growth of wealth like a Whole Life Insurance can . Term insurance ca n't `` cover '' the need for retirement income supplement like Whole Life can . As mentioned above no insurance including Term will cover suicide in the first two years of the policy . And of course also as mentioned above there is a contestability period with all life insurance to mitigate deliberate misinformation in order to obtain a policy . If fraud is proved on a claim within the contestability period the claim will be denied .


Input: What Does Term Life Insurance Not Cover?

Output: Term Life can be issued for 10-30 years and provides a death benefit to the beneficiary . The policy expires at the end of the term and does not cover living after that point . Most policies will also pay a portion of the death benefit in advance if diagnosed with a terminal illness and less than 12-24 months life expectancy . New Living Benefit Life policies also include no cost riders that will accelerate up to 90 % of the death benefit in case of Critical Illness -LRB- Cancer , Heart Attack , Stroke , Major Organ Transplant , etc. -RRB- ; Chronic Illness ; Disability ; Terminal Illness ; or Death . Funds can be used for any purpose , such as : medical bills , lost income , mortgage payments , household expenses , long term care , etc. . Living Benefit Term or Permanent Life policies are only available from approximately 6 carriers .


Input: What Is The Average Cost Of A Medicare Supplement Plan?

Output: The cost of a Medicare Supplement plan -LRB- also commonly known as a Medigap plan -RRB- can vary widely around the country . The premiums for a person 's plan are based on a number of factors including the type of plan he/she is applying for -LRB- A , B , C , D , F , Hi-F , G , K , L , M , N , or a SELECT plan -RRB- , their zip code -LRB- where you live is a critical factor -RRB- , whether you use tobacco products , if you 're male or female , and your medical history -LRB- if subject to medical underwriting - not applicable if applying during initial open enrollment period or if you have a guaranteed-issue right -RRB- . If you 're subject to medical underwriting , you may be subject to a level 1 or level 2 rate for many carriers . Plan F is the most popular Medicare supplement that people buy . In general , you can expect plans F and G to be the most expensive in your area because they provide the most comprehensive benefits . Plan N can be very competitive with F and G -LRB- plan N is a great option for those who 's doctors accept assignment -RRB- . For quotes to determine cost for your specific coverage , send me an e-mail with your contact information and I can provide the quotes accordingly . You can also reach me by phone as well - my contact information is on my profile page . Thanks very much !


Input: Who Is Eligible For Va Life Insurance?

Output: In order to get VA Life insurance , someone must meet one these conditions : 1 -RRB- Have converted their SGLI -LRB- Servicemembers ' Group Life Insurance -RRB- to VGLI -LRB- Veterans ' Group Life Insurance -RRB- within 120 days after separating from the Service . This can be extended one year with a statement of good health . 2 -RRB- Have been given a VA rating for a new service related disability incurred in the past two years . This qualifies them for S-DVI -LRB- Service-Disabled Veterans ' Life Insurance -RRB- . 3 -RRB- Qualified for VMLI -LRB- Veterans Mortgage Life Insurance -RRB- by virtue of being a disabled veteran who was able to get an SAH grant .


Input: Will Auto Insurance Cover Transmission Repair Costs?

Output: If your transmission is damaged due to an accident then a deductible would apply and it would be covered Now if there is is damage from wear and tear that would be different but you may have that covered under warranty . I recommend you call a local agent and discuss the type of coverage you have


Input: Will Auto Insurance Cover Transmission Repair Costs?

Output: Auto insurance will not cover transmission repair costs or any other repair issues that are due to wear and tear or depreciation . Your auto insurance policy will cover you for damages sustained in an accident that you are involved with or injuries to passengers or other persons that you hit -LRB- hopefully , accidentally ! -RRB- .


Input: What Is Jubilee Whole Life Insurance?

Output: In Canada , London Life used to market their whole life product using the branding of `` Jubilee Whole Life '' . The policy was a participating whole life plan with a variety of dividend options . London Life still issues whole life policies , but no longer uses this branding . If you have any further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Does Renters Insurance Cover Moving Expenses?

Output: I would have to say no , unless you are dealing with a claim situation under a covered loss that is forcing the move and even then it is only a possibility . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: What Is An Adjuster In Auto Insurance?

Output: With regard to automobile insurance , there are two most common types of ` Adjusters ' . A major distinction is that one handles the various aspects of a particular claim , usually without ever seeing the vehicle in person , while the other type of Adjuster is responsible for actually looking at the vehicles or vehicles and assessing the damage amounts . The latter is often also referred to as an appraiser . But they are ` adjusting ' the loss . The former would typically assign the appraiser -LRB- outside adjuster -RRB- to look at the vehicles or vehicles . The outside adjuster might also view the accident site and determine a theory of liability and advise the ` inside adjuster ' . There are variations but these two types of ` adjusters ' are most often encountered in claims situations .


Input: Where To Find Good Life Insurance?

Output: To find good life insurance , find a good broker . He or she will help you determine what is good for you . What amount ... what cost ... what carrier are good for you ? A good broker will help you find out - and find this all out before you apply , so you can be confident of the outcome of underwriting . Good life insurance is a policy you are glad to buy .


Input: Where To Find Good Life Insurance?

Output: There are several online brokerage insurance portals that sell life insurance direct to the public or use their own agent field force . Brokerage firms online generally maintain a significant inventory of life insurance companies and spreadsheet them by premium ranking . You 'll have a better opportunity in securing a competitive price .


Input: Where To Find Good Life Insurance?

Output: Finding good life insurance entails finding an affordable and fair price , finding a secure company , and finding a policy that has guarantees . To find good life insurance , it is helpful to start out with a good agency that can help you put all those pieces together . You can find an agency like that by reading online reviews and testimonials , and calling them to sense their level of expertise .


Input: Where To Find Good Life Insurance?

Output: There 's hundreds and hundreds of insurance companies out there . The best way to buy life insurance is through a life insurance broker . You can also buy life insurance online or through the mail , but a broker is going to be your best resource . The process of buying coverage can be very intensive , strenous , and time consuming.You ideally only want to go through the application and underwriting process once . Trying to apply to multiple companies to see what sticks actually works against you . There 's many factors that affect what a person will pay for their life insurance coverage including their age , gender , amount of coverage they want , how long they want the coverage for , their risk classification , and whether they 're applying with full underwriting or non-medical term coverage . Non-med policies may seem easier to deal with and have less hassle , but you 're usually paying a substantially higher amount than necessary if you had applied for a fully underwritten policy with an exam . The risk classification is the MOST critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy - I ca n't stress this enough . The risk class depends on a number of factors including whether you 're male or female , your medical history , prescriptions you take , your height/weight profile , any tobacco usage , family medical history , and other factors . Please keep in mind - every carrier has different underwriting guidelines , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . If you 're looking for coverage to be in place for a longer amount of time -LRB- e.g. 20 years , 30 years , or permanent coverage -RRB- , you also want to consider the insurance company 's financial rating -LRB- typically at least an A rated company -RRB- . The financial rating indicates a company 's financial strength and stability . I hope the information is helpful - please feel free to contact me for further assistance and if you have any other questions . Thanks very much .


Input: What Is Medicare Part B Fee Schedule?

Output: CMS -LRB- Center for Medicare Services -RRB- determines how much they will pay for medical services . Doctors , hospitals , clinics , labs , etc. that treat Medicare beneficiaries are required to accept the fee schedule . If the provider accepts Medicare assignment they are prohibited from balance billing . If they do not accept Medicare assignment , they are allowed to charge a higher amount but must adhere to the Medicare caps on excess charges . Medigap plan F and G will cover excess charges .


Input: What Is Medicare Part B Fee Schedule?

Output: Medicare Part B schedule is the amount Medicare will pay a provider for a covered procedure . For example , a certain surgery may cost $ 1000 but Medicare will only approve $ 500 on that particular surgery . You are responsible for 20 % of the Medicare approved amount , Medicare pays 80 % . You will receive an explanation of benefits from Medicare showing the approved amount and what your responsibility would be , based upon the fee schedule .


Input: Does The National Guard Provide Health Insurance?

Output: Tricare Reserve Select is the optional heath insurance for National Guard Soldiers and their families . This coverage is not free , so you will pay a monthly insurance premium , though it will typically be less expensive than it would be to purchase coverage through another employer or on the individual health market .


Input: How Much Life Insurance Should We Get?

Output: A quick answer to this question is 7 to 10 your income but I use a calculated method with my clients that will be more precise . I use what is known as the DIME method to determine the correct face amount for a client . The D stands for debt & death , the amount needed to pay off all debt such as credit cards , small loans , automobiles , etc. . I represents income replacement , the amount needed to replace a monthly income for a minimum of 10 years . M is the mortgage payoff . E stands for education for the kids which I use $ 64,500 per child for a 4-year education . This is the only one that I may leave off if there is a budgetary concern . When we do the math the insurance need is fully funded . The DIME method is the most accurate way to determine the right amount of life insurance a person needs .


Input: How Much Life Insurance Should We Get?

Output: That can vary according to your situation and the reason for purchasing the insurance . Do you have debts such as a mortgage or credit cards you want paid off in the event of your death ? Do you just want to cover final expenses ? In the case of final expenses you need to consider not just the cost of a funeral but also possible medical bills that may be incurred , an emergency fund for your loved one , and a variety of factors . Each case is different . You need to sit down with a qualified insurance agent and discuss your needs . A good agent will not just sell you a policy , he will consider your situation and find you an affordable plan .


Input: Does Erisa Cover Life Insurance?

Output: ERISA jurisdiction covers qualified plans . It is conceivable that life insurance could be part of the contribution to a qualified plan with certain product limitations -LRB- while life 49.5 % , universal life 25 % -RRB- . The economic benefit of the insurance portion is subject to taxation as an additional item beyond the cash values . But beyond that ERISA has no jurisdiction over life insurance .


Input: Does Erisa Cover Life Insurance?

Output: ERISA does n't directly address life insurance . ERISA is a federal law which dates back to 1974 that sets minimum standards for retirement plans in the private sector . The protections provided to plan participants are extensive . To the extent that retirement plans utilize life insurance and related products as plan assets , the standards and protections can indirectly apply to such products . For example , there are specific rules for qualified retirement plans which place limits on life insurance as a plan asset .


Input: Why Is Alprazolam Not Covered By Medicare?

Output: For the most part , Medicare only covers prescriptions when one is hospitalized , under Part A . Some types of medications , such a certain cancer treatments , can also be covered under Medicare Part B , though most drugs one takes outside of a hospital are only covered if you have added Medicare Part D prescription coverage through a private insurance company . In such a case , this medication could be covered , as long as it appears on your company 's formulary list of covered medications , as the drug is considered to be medically necessary .


Input: Is There Inheritance Tax On Annuities?

Output: In most cases there are no inheritance tax on annuities there are some state and federal guidelines to follow such as estate tax and things of this nature it is how well a parent or grandparent prepares and arranges their financial matters ahead of time they can be in a trust or will there is different situation for the amount of income in the estate the thing to do is consult a financial planner ; attorney and CPA to put everything in order . Let me know if I can help see my website for an appointment we will set a plan in motion for you at no cost .


Input: Is There Inheritance Tax On Annuities?

Output: Annuities that generate a gain , cash values beyond the original basis or contributions are taxed as ordinary income tax rates of the owner of the annuity . Although an annuity can bypass probate , it may be subject to federal and/or state of residence estate tax depending on the size of the estate in relationship to the federal unified credit and the state of residence exemptions limits .


Input: Should I Purchase Short Term Disability Insurance?

Output: If you have enough savings to get your through a six month disability , you may not need to purchase short term disability insurance . However , if you can get it at a reasonable price , it could be a great thing to have , especially if you are in a manual labor job where a broken bone , sprain , or surgery could put you out of commission until healed .


Input: Can You Get Life Insurance If You Are Ill?

Output: Can you get life insurance if you are ill ? That is a very good question . We tend to think of those who have serious diseases as most unlikely to get life insurance . But in reality , those who are undergoing testing for an -LRB- as yet -RRB- undiagnosed illness , those who are in the beginning stages of treatment for a newly diagnosed illness , or those who are awaiting surgery or treatment , are likely to be postponed until their illness is diagnosed or showing stable control . Once the health condition has been under control for a while , they will have a much easier time finding a life insurance policy that will cover them . The length of time that stability must be shown depends on the illness . For blood pressure or diabetes , 3 to 6 months of control is sufficient with some companies . For MS , most companies like to see at least a year of stability , although coverage can be obtained shortly after diagnosis . Cancer is usually postponed until a year of remission or more . Many people first consider applying for life insurance when they become ill . Contact a good impaired risk agency with lots of choices to find something you can get now and/or for the future .


Input: Can You Get Life Insurance If You Are Ill?

Output: This depends on just how ill you are . There are a handful of carriers who specialized in offering life insurance for people who are in less than perfect health . Premiums not surprisingly more expensive than the premiums paid by individuals who are very healthy . Many people are surprised to find out that their health condition will allow them to purchase life insurance so it 's important to not automatically assume that you can not get life insurance just because you are ill .


Input: Can You Get Life Insurance If You Are Ill?

Output: It is very hard to get a good rate when your health is bad . But it is possible to get Insurance even if you have certain illnesses . There are companies that offer guaranteed issue policies that do n't ask a lot of health questions . The severity of your illness will greatly affect your ability to be insured . If you have been diagnosed with a life threatening illness or if you are currently hospitalized it may be nearly impossible to get insurance .


Input: What's The Best Type Of Life Insurance?

Output: Product suitability needs to be determined through a personal financial profile process that includes risk assessment , financial goals and a life expectancy report . Then you need to outline your financial liabilities , future obligations and other charitable intent at death . If those indemnification items are temporal you should investigate term life insurance . If some or all of these items are ongoing into perpetuity , then permanent life insurance should be considered . If youre looking for tax advantaged retirement income you may want to review the fur cash value accumulating life insurance policies : participating whole life , current assumption universal life , indexed universal life and variable universal life .


Input: Does Variable Universal Life Insurance Make Sense?

Output: Only individuals who are securities licensed can provide an answer to this question due to regulations surrounding variable products . I would recommend contacting an agent who is securities licensed to get any needed input regarding variable universal life -LRB- VUL -RRB- - they can compare it other insurance programs such as whole life and guaranteed universal life .


Input: Does Variable Universal Life Insurance Make Sense?

Output: Life insurance is all about mathematics . A universal life policy sacrifices guarantees to allow the customer flexibility in determining the payment schedule and benefit . These can be altered throughout the lifetime of the policy . My caution to all universal life policyholders , including myself , is to make sure to fund the policy with enough money to keep it in force until you either dont need it or the death benefit is paid to those that you love .


Input: Does Variable Universal Life Insurance Make Sense?

Output: This is an experienced based question and the answer will differ depending upon the agent 's practice . Although I have never sold this type of policy because the annual fees are generally so high that the outcome is less than desirable for most people . I have seen many of these policies be disappointing even though the quality of the carrier is very high . My advice is to keep your investments and insurance in separate vehicles .


Input: How To Find Out The Beneficiary Of A Life Insurance Policy?

Output: To find out the beneficiary of a life insurance policy , start by calling the company through which the life insurance policy was purchased . The beneficiary written on the original policy may have changed since the policy was taken out , and agents do not have to be told when beneficiaries are changed . If there is not a record of a beneficiary change stored with the actual policy , the only way to know the most current beneficiary designation is to call the insurance company .


Input: Can One Have Multiple Life Insurance Policies?

Output: Yes , you can have any number of life insurance policies as you wish , as long as you are financially qualified for the sum total of coverage . Having a variety of policies is not uncommon , as some types of life insurance suit some needs better than others . E.g. Term insurance is used for temporary needs while Whole life is better for permanent needs .


Input: Can One Have Multiple Life Insurance Policies?

Output: Yes , you can have multiple policies . Life insurance , just like disability insurance , has issue and participation limits that determine the maximum amount that you can be insured for -LRB- basically what you 're valued at , based on your earning potential -RRB- . For example , if you have group insurance at work , but they only insure you for so much , you can get the remaining coverage privately .


Input: How Much Should I Be Paying For Life Insurance?

Output: The amount that someone should be paying for life insurance depends on a multitude of factors . Some of those factors are : 1 -RRB- The length of the policy . Generally speaking , the longer your premium is locked in , the higher your term life insurance premium will be . Also , permanent policies usually cost more than term policies . However , getting a new policy every 10 years can end up costing more than locking in one policy for 30 + years . So you have to look at the big picture and the purpose of your life insurance in order to determine which is more cost effective for you . 2 -RRB- Your age . Premiums go up with age . 3 -RRB- Your health and other risk factors . Having a health condition , family history of early heart disease , dangerous hobbies , and other risk factors can all affect the price of your life insurance . 4 -RRB- The type of policy you get . If you want to build up cash value in your policy -LRB- such as Whole Life or Indexed Universal Life -RRB- it will cost more than a Term policy that has no cash value . However , even policies of exactly the same type will vary in price depending on the carrier you buy them from or whether or not you get an exam -LRB- generally , but not always , No Exam policies cost more than those requiring full medical underwriting -RRB- . It is important to shop with an ethical broker who can find you the lowest price but also the type of policy that works best for your needs . 5 -RRB- Your financial situation . Persons with higher incomes and estate values may want to spend more on their life insurance coverage than those struggling to have a good quality of life on a low income . Insurance calculators can help you determine how much insurance you need , which will in turn help you arrive at an affordable price


Input: How Much Should I Be Paying For Life Insurance?

Output: Unfortunately there 's too many factors that go into premium pricing to say what you should or should not be paying for your coverage . A lot of it depends on what type -LRB- s -RRB- of coverage you 're looking to purchase , your health history and your premium tolerance . The risk class is the most critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends on a number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Keep in mind , every carrier has their own set of underwriting guidelines and mortality tables , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . Non-medical policies generally cost more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you . Consult with an independent insurance agent/broker to see what plans are available and what structure would be best suitable to meet your needs .


Input: How Much Should I Be Paying For Life Insurance?

Output: With every year the risk of you dying increases . The cost for providing you insurance also increases . The statistics that underlie the development of the insurance premium vary little . So , the difference between premiums for the variety of policies available is the result of the length of time that the company assumes the risk and how close you are to the standard risk . If you have had multiple heart attacks , your premium will be greater than a long distance runner in good health . The price that you are paying for life insurance is monitored by your state insurance commissioner . You are probably getting good value , regardless of which policy you have purchased . The policy that is in force when you die is the best possible value .


Input: How Much Should I Be Paying For Life Insurance?

Output: How much you should be paying depending on a number of factors . Perhaps a better way to look at it would be to ask , `` How to I be sure I am paying for the right type of insurance at the right price ? '' What you pay depends on ; a number of factors including age , health , sex , smoker/non smoker , occupation and more . The number of different types of term and permanent life insurance available is huge . You can get a basic idea from the online quoting services , However , you would be better served by speaking with a local independent insurance agent/broker who could help determine what plan fits your needs at the best price . 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: How Much Should I Be Paying For Life Insurance?

Output: Great question ! Unfortunately the answer is filled with so many variables that it is impossible to give you a solid dollar amount . If you are attempting to budget an amount , or compare your current price , I 'd suggest that you go to an independent agent -LRB- An independent agent is one who can use several companies to choose from , not just one specific one -RRB- and walk through the process of comparing with them . I 'd strongly recommend that as opposed to comparing based on mail , television or internet quotes , as they are generally pitched to promote their best rate and not the ones most people would actually qualify for . One other tip - do not apply for several policies with the hopes of finding out your price - that actually can have very bad consequences for you . Ask only , commit when you 've found the one that best fits your needs . If you have any further questions , I 'd be happy to help , feel free to contact me . Thanks for asking !


Input: What Does Homeowners Medical Insurance Cover?

Output: Coverage F Medical Payments is coverage that will pay the necessary medical expenses that are incurred or medically ascertained within three years from the date of an accident causing `` bodily injury '' . Coverage applies to accidents that incur on the insured premises -LRB- the home -RRB- or as the result of an action by the insured at any location . For example , you leave your suitcase in the hallway of a hotel and someone trips over it . The basic limit is $ 1,000 , but higher limits are available and they are very inexpensive . The purpose of this coverage is twofold . First , paying doctor and hospital bills promptly for accidents the insured may have caused could minimize the likelihood of troublesome litigation . Second , submitting the bills helps insurance companies identify accidents early and therefore gives the insurance company time to investigate the circumstances and prepare a defense if necessary . Medical Payments Coverage is not intended to provide accident insurance for the insureds family . Accordingly , the named insured and family are excluded from coverage . I hope I 've answered your question . If not , feel free to call , fax or email me . Kevin P. Foley , CPA , CPCU PFT&K Insurance Brokers T 877-414-2031 F 877-405-3025 E kpfoley -LSB- at -RSB- kpfoley -LSB- dot -RSB- com W www -LSB- dot -RSB- kpfoley -LSB- dot -RSB- com


Input: When You Quit A Job When Does Health Insurance End?

Output: It really depends upon the employer but it will usually end the month after you leave . Once you leave , you will , most likely , not meet eligibility requirements . If the company has a written policy that complies with state and federal laws they could keep you on longer , but most do n't . This does n't mean . however , that you 'll be without insurance . COBRA is the federal statute that requires that you be offered a continuation of your coverage after you are no longer eligible for that company 's group coverage . Under COBRA , you will be given the option to pay for your coverage on your own . You can be charged a fee for this and it can be expensive . Depending on the company , you may also be eligible to convert your group coverage to an individual policy . If you elect this , once again , you 'll be responsible for the premiums . However , you usually will have options to choose from that may be able to save you some premium dollars . Just be aware of the coverage changes . Now that we have new healthcare laws , you also have the option of going to an exchange to get your coverage . Talk to an agent or the company 's customer service people to get some good advice on choosing the right plan .


Input: When You Quit A Job When Does Health Insurance End?

Output: Depending on the plan design and how your employer approaches it , either the last day of work or the last day of the month . After that , if your employer has 20 people at work on any given day , you should be offered COBRA continuation coverage . The 20 headcount for COBRA continuation can inlcude part time employees that are not part of the health plan . If your health plan was with a company of less than 20 active employees on any given day , you may still get some extended coverage . it 's going to depend on the state and plan design . In my state some insurers offer 3 months extended coverage for people who are n't COBRA eligible because of the size of the group .


Input: How Much Does Health Insurance Increase Each Year?

Output: This is a near impossible question to thoroughly answer , especially in light of the Affordable Care Act . In past years , premiums for most large groups were known to increase 4-8 % , while smaller groups and individuals typically had much larger increases . I 've always told my clients to ship for a new plan every year , and if your increase is less than 10 % per year , consider yourself lucky , as other customers had increases two to three times that size . Since 2015 rates must be filed with each state 's department of insurance next month , and no company has enough history to properly rate 2015 policies based on the minimal time there has been to measure claims experience with Obamacare plans , the amount of increases we can expect to see this fall , for coverage in 2015 , is unknown . Most experts agree costs will continue to rise dramatically for the next few years , until company 's have had time to assess the true risk involved with these plans , their new mandates , and forced coverage for all pre-existing conditions .


Input: When Is Group Term Life Insurance Taxable?

Output: Group Term Life insurance is taxable beyond the first $ 50,000 benefit per IRC Section 79 of the IRS . This is whether the employer is paying the full premium for the life insurance , or is providing the policy to the employee at group rates . The first $ 50,000 is not taxed .


Input: Is A Roth 401K A Tax Deferred Retirement Plan?

Output: Is a Roth 401k a tax deferred retirement plan ? Actually the answer is No , maybe some yes if you want to split hairs . You pay income taxes on your contributions to a Roth Plan , you pay no income taxes on the gains the Roth earns over time either while it 's accumulating or when you start spending .


Input: What Are Variable Annuities Good For?

Output: A variable annuity is a security and an insurance product for investors that have a high effective tax bracket rate and have the risk tolerance for market returns , but the reality of market losses . A variable annuity can be a supplemental retirement income stream that can offer differing distribution options including lifetime annuitization .


Input: Can I Withdraw Money From My Variable Annuity?

Output: That is a great question ! The short answer is yes , but ... Most annuities will allow you to take out a percentage for free , generally up to 10 % , but it really wo n't be free . The money that you withdraw will reduce the earnings power of your annuity over time , and can actually end up costing you money . If the amount you want to withdraw exceeds the free amount , you will be assessed fees , and may have a tax liability on any interest earnings portion of that withdrawal . If this is early into your annuity , expect to also have a surrender charge assessed if the amount exceeds the free amount . Call your agent , and get the specifics for your annuity before doing anything , ok ? If you have a whole life policy , maybe taking a loan out of the cash value might be a better option . Good luck , and thanks for asking !


Input: Can Life Insurance Go Into Probate?

Output: Life Insurance will usually avoid probate as long as the funds are left to a neamed beneficiary . If the proceeds are left to the Estate then the funds will go into Probate . This is why it is important to review your policies every couple years . I have seen incidences where the beneficiary passed on before the insured . The beneficiary was not changed therefor the funds went to the estate thus probate was involved .


Input: What Does A Life Insurance Wholesaler Do?

Output: A life insurance wholesaler is an agency that recruits life insurance agents to sell the products of various life insurance companies . For instance , if you meet with an agent and he shows you rate comparisons of 25 different companies and you choose to apply with one , the agent does n't need to deal directly with all 25 companies . He will deal with the wholesaler and can offer you the products of all the companies . You get the lowest rate any of the companies offer . Life insurance companies are required by law to give you the same rate no matter how you apply .


Input: How Does Life Insurance Underwriting Work?

Output: A life insurance underwriter is someone who evaluates the risk of issuing a policy based on many factors , of which the main one is life expectancy . The person making this evaluation used to write their name under the definition of the risk , thus came the title , `` underwriter '' . It is a very difficult job as life insurance carriers have many regulations to follow , they must charge wisely so their company stays solvent , and they must know a realm of health information in addition to being astute financially . Therefore , there are often underwriting teams , including medical doctors , when a life insurance company covers a broad range of risk . Not only do underwriters look at medical risk , but since 9-11 they also must be sure that the face amount applied for fits the financial means of the applicant , because life insurance can be used by terrorists for money laundering . They look at pharmacy records , driving records , and MIB -LRB- Medical Information Bureau -RRB- . Some policies do not require any exam or medical records , some skip the exam but still have the option to order medical records , some just order exam and rarely order medical records , and some routinely order both . All these steps together ensure that the proper rating is given and that the life insurance company will be able to pay all out all its claims .


Input: How Does Life Insurance Underwriting Work?

Output: Life insurance underwriting is the art of collecting financial , medical and behavioral information and integrating a composite picture of the proposed insured . This big picture approach can sometimes create extra credits on the underwriters balance to offset potential debits or health items that may cause the premium price to increase based on the risk to the life insurance company . Financial justification must be established for the face amount of insurance amount youre applying for with documentation . Medical information is collected and includes your doctors file , prescription history and the results of a paramed exam . These items help develop the mortality risk to the company . Behavior like addictions , motor vehicle violations , dangerous recreational activity and vocational hazards are incorporated into the final decision .


Input: Does Long Term Care Insurance Cover A Nursing Home?

Output: Yes , long-term care insurance policies cover the costs of being in an authorized nursing home up to the policy limits -LRB- maximum daily , or maximum monthly dollars -RRB- indicated in the policy , plus any additional purchases of coverage , and any automatic benefit increases , if suchriders were purchased . Today 's long-term care insurance policiesalso cover other types of long-term care , includingcare costsat home , in an adult day-care center , and in authorized residential -LRB- also known as assisted living -RRB- facilities . Some policies also allow for the payment ofroutine domestic care such as house cleaning . A policy that covers all of these potential care costs is called a `` comprehensive '' long-term care policy . Very few facility-only or home care only policies are sold these days . Costs of care in a facility can be paid in one of two ways : 1 -RRB- the caregiver or policyownersets up automatic monthly payments directly to the facility from the insurance company with any additional charges above the maximum daily or monthly benefit of the policy being paid out-of-pocket , or 2 -RRB- the caregiveror policyowner receives aa check to pay for facility service charge after being billed by the facility and having paid that bill out-of-pocket . There are some policies that pay cash directly to the insured in the amount of the maximum monthly benefit regardless of costs incurred . This is called an `` indemnity policy '' and there are very few carriers that offer this type of coverage any longer . If the insured lives beyond the extent of the pool of money provided by the insurance company , the insured must pay for care out-of-pocket to remain in the facility . If the person has purchased a `` partnership '' plan of long-term care andexhausts the funds of thatpolicy , Medicaid -LRB- Medical in CA -RRB- willtake over payments of care as long as the amount paid out by the policy is greater than thethe non-excludableassets of the insured .


Input: Does Long Term Care Insurance Cover A Nursing Home?

Output: Does Long Term Care cover a nursing home ? In most cases the answer is yes . However coverage will be created by what you choose for your plan design . In most all cases nursing home coverage is a base aspect of any plan , but you can choose in many plans to include assisted living or home care along with nursing homes .


Input: How To Transfer Ownership Of Life Insurance?

Output: Your life insurance professional , or the insurance company directly , can help with the administrative aspects which involve a policy change form . Since this changes ownership of property , there may be tax implications . If transferred , the fair market value may be the sale price the new owner pays for the policy . If no payment is made , it would likely be a gift for tax purposes . Consult with a tax or legal adviser for such matters .


Input: What Does My Allstate Renters Insurance Cover?

Output: I would suggest contacting your local agent to go over your exact policy coverages . Typically a renters insurance policy will cover : 1 . Personal property coverage . Think of everything you own . Now , try to assign a dollar amount to all of those belongings . Pretty mind-boggling , is n't it ? A renters insurance policy offers you coverage for the theft , loss or destruction of your personal belongings in the event of a fire , storm or other covered peril . This can help you replace the items you use on a day-to-day basis , from your clothing to your appliances to your furnitureas well as your more expensive items . If you 're a die-hard jewelry collector or an audiophile with tens of thousands of dollars ' worth of pricey sound equipment , you can even take out extended coverage that provides you with higher limits , sometimes called floater insurance or Scheduled Personal Property coverage . This extra coverage may increase your deductibles , but will certainly be worth having to make sure you have enough coverage for your pricey items . Having a renters insurance policy can even cover your personal belongings when they 're not inside your homelike if you take your laptop with you on a trip and it is damaged or stolen . 2 . Liability coverage . Life is risk , but that does n't mean you have to dig deep into your pockets or drain your savings account every time something goes wrong . The liability insurance that comes as a part of your standard renters insurance policy can help protect you if you are sued by a guest injured in your home . Say someone comes over to your house and trips down your stairs , injuring themselves seriously enough to warrant medical attention . If you are found responsible for the accident , your renters insurance liability coverage can help pay for your legal expenses and their medical bills and other damages . When buying renters insurance , it pays to think long and hard about having enough coverage to guard against any eventuality . Liability coverage can even pay for damages caused accidentally by you or your family members . For example , if your child accidentally throws a baseball through your neighbor 's living room window , your liability insurance plan could cover the damages . 3 . Additional living expenses . People rarely think about where they 'd go or how they 'd pay for it if a fire or disaster were to render their rental home unlivable . With a renters insurance policy , you can rest easily because this coverage will help pay for your temporary living expenses . This can include things like hotel bills to restaurants to other living expenses you normally would n't incur . With a renters insurance policy , you do n't have to worry that a damaged roof will force you to share a house with your in-laws . For that alone , it 's a priceless investment . Thanks for asking !


Input: Does medicare cover exercise equipment if ordered by your doctor?

Output: No . Medicare Part B -LRB- Medical Insurance -RRB- covers durable medical equipment -LRB- DME -RRB- that your doctor prescribes for use in your home . Only your doctor can prescribe medical equipment for you . DME meets these criteria : Durable -LRB- long-lasting -RRB- Used for a medical reason Not usually useful to someone who is n't sick or injured Used in your home `` Used for a medical reason '' is analogous to `` medically necessary '' and exercise equipment is not deemed medically necessary . Exercise equipment is also deemed to be useful to someone who is not sick or injured .


Input: About How Much Does Life Insurance Cost People?

Output: The cost of life insurance varies widely , so much so that there is no way of giving an estimate of price . It can range from $ 20 per month , to over a million dollars per month . The price depends on age of the insured person -LRB- the younger you are , the lower the price usually is -RRB- , the length of time that the premium is guaranteed to stay level -LRB- e.g. 10 year usually costs less than 30 year term -RRB- , health of the insured person , tobacco use , and other factors . To get an estimate of what life insurance might cost for you , you can visit a website that offers free online quotes . Contact the website directly to visit with an agent who will ask specific questions to make your quote more accurate .


Input: Does Health Insurance Cover Glaucoma?

Output: Glaucoma is a serious illness that can lead to permanent blindness if not treated . Glaucoma is easily treated in most patients and can be controlled with prescription eye drops . In some cases glaucoma can not be successfully treated with eye drops and surgery is required . Either conventional blade surgery or laser surgery may be needed to treat the condition . Most major medical health insurance plans will cover glaucoma treatment .


Input: Does Health Insurance Cover Emergency Room Visits?

Output: Health insurance covers ER visits , although your portion of the treatment will vary . There are numerous available Exchange plans , including four different Metal tiers -LRB- and catastrophic -RRB- . Your deductible may apply to ER visits or perhaps just a simple copay or coinsurance . To make sure you 're getting the correct and best ER benefits allow experienced brokers -LRB- and our websites -RRB- to shop for you so you 're always getting the best pricing .


Input: What Year Did Disability Insurance Start?

Output: Disability Insurance started in the mid 19th century . At that time , commercial insurance companies called the policies accident and/or sickness policies . Group disability insurance started to be offered in 1911 . Back then , plans were similar to health insurance plans . WEBSITELINK


Input: How To Find A Life Insurance Policy For Deceased?

Output: To find the life insurance policy of a deceased person , Ed has great advice . You may also find that some insurance companies have been bought by other companies or changed names since the policy was purchased . You can google the old company name or call an agent who can help you locate the new company name and phone number .


Input: How To Find A Life Insurance Policy For Deceased?

Output: Finding a life insurance policy for a deceased person should start with a review of their records . You should look for receipts , payment coupons and any other reference to life insurance . It is also possible they kept a notebook or other item with a list of policy numbers . Using their social security number when contacting insurers will also help . And if those do n't work , give Peggy a call ! -LRB- below my answer -RRB- . She 's a true expert !


Input: How Hard Is Health And Life Insurance Exam?

Output: The Health & Life Insurance Exam , if you are referring to entering into the financial and insurance services as a career , is not very hard IF you , in my opinion , take the classroom 2 day course along with the materials you will receive . The area which you will need to concentrate more on is the law side of insurance . The rest is pretty easy .


Input: How Hard Is Health And Life Insurance Exam?

Output: Good points y' all ... What was the desired answer from the question ... The exam for GETTING life insurance -LRB- there has n't been an exam for health insurance in most states for YEARS . Now with PPACA , there are no exams for sure -RRB- . or ... the exam to get a license ? Since this site is for people to ask questions about insurance products & coverage , I assume it was NOT about getting licensed . For life insurance , the exam , or lack thereof , depends on the carrier & the amount you are applying for . The same person would have a light exam -LRB- small blood draw , tinkle in a cup , blood pressure reading , & questions -RRB- for a lower benefit amount -LRB- like 100K - 250K -RRB- vs. a larger benefit amount of 1 million . Think of it this way , `` The more you want from them , the more they 'll want from you . '' :--RRB- There are carriers that offer `` no exam '' underwriting options . MOST of these plans are for smaller amounts -LRB- under 250K -RRB- . The underwriting is typically pretty quick . The process can be as little as a few days . The tradeoff for not probing as deeply into you -LRB- literally -RRB- is that the cost of insurance is higher . You are likely to get the same coverage for less if you are willing to take an exam . Compare the length of coverage , extra coverage like Living Benefits , the convenience factor -LRB- exam or no exam -RRB- , the underwriting possibilities appetite of the carrier -LRB- your agent should discuss WHY this carrier is best over others - - the reason should be `` best underwriting for YOU '' -RRB- , and THEN the rate . Rates are relative to what you can qualify for . DO N'T fall for the big `` Dot coms '' that say you can get 500K for $ 20 a month ... MOST of use can not get that . If you have any questions , please reach out !! - gravy


Input: How Hard Is Health And Life Insurance Exam?

Output: I agree with Matt . Taking a two day course , in addition to the study materials , is very helpful for passing the Life and Health exam which qualifies you to be a licensed Life and Health Insurance Agent . They will show you some sample questions so that you can get comfortable , and also point out the areas where questions will most likely be asked .


Input: How Hard Is Health And Life Insurance Exam?

Output: Not very hard at all , actually . The process may vary depending upon the requirements of the policy for which you have applied and the insurer , but for the most part , medical history questons will be asked and , if necessary , you will be asked to provide blood and/or urine specimenes or perhaps just an oral swab . It is also possible that blood pressure may be measured . These exams may be performed either by a physician , usually designated by the insuring company or a paramedic professional in the comfort of your own home .


Input: Which Is Better Humana Or Medicare?

Output: It depends on the are you live in and your individual situation . Humana is a Medicare Advantage Plan . Each area is different . If you can not afford a Medicare Supplement then I would shop for a good Medicare Advantage Plan in your area , it may be Humana or it may be another plan such as United Health Care , Aetna , or Anthem Blue Cross . A good local agent who is certified in Medicare Advantage plans and is familiar with the plans in your area can help guide you in the right direction . Every situation is different . A medicare Advantage Plan will offer more coverage than original Medicare . A Medicare Supplement offers even better coverage because it will pay in addition to original Medicare . Humana does offer a Medicare Supplement , but make sure you shop because they may not be the best option depending on where you live . Again , a good local agent can be a great help to you .


Input: Which Is Better Humana Or Medicare?

Output: Humana can be either a Medigap or Medicare Advantage plan . They offer both options . Depending on your zip code , the Humana Medicare Advantage plan may not be available . If Humana Medigap plans are offered in your state , they would be available in any zip code . You should completely understand the difference in Advantage plans vs. Medicare supplement . In general , Advantage plans have lower premiums but considerably higher out of pocket costs . Most also have networks with severe penalties for using non-network providers . Supplement plans have higher monthly premiums , no networks , and in most cases , less than $ 500 out of pocket when your health takes a turn for the worse .


Input: Which Is Better Humana Or Medicare?

Output: Medicare isa national social program administered by the U.S. government thatguaranteeshealth care coverageto allAmericans who have worked in the U.S. long enough to earn coverage . Medicare will generally cover80 % ofyour medical cost . Humana offers enhancements to the government 's coverage either with a Medigap plan which can cover the additional 20 % that Medicare does n't pay or a Medicare Advantage plan that covers all that Medicare covers with added benefits .


Input: How Do You Use Whole Life Insurance In Retirement?

Output: Certainly , there are a few ways to use a good whole life policy in retirement . The most common is to `` borrow '' a monthly payment from your cash value . The loan will be at a very low interest rate . But , because it is a loan it is free of income tax . Second by using the loan provision you keep your death benefit intact for your loved ones . I suggest sitting down with your agent and running the different options before deciding on how to proceed .


Input: How Do You Use Whole Life Insurance In Retirement?

Output: A whole life insurance policy is an extremely flexible product that can meet many needs in retirement . The most obvious need is death . It is obvious that retirement always ends in death . Death is not inexpensive . The proceeds of a whole life insurance policy can pay off some or all of those expenses . After a certain age term policies can not be written at any price . I recently had a client who forgot that there was a life policy on her husband . She was paying his funeral expenses on an installment plan . I discovered the policy and brought it to her attention . She was delighted . Another use of a whole life policy is to transfer property to heirs . Often a person will want to leave money to children , grandchildren or a favorite charity . They will then try to conserve their retirement assets so that money will be available when the die . Unfortunately they often rob themselves of lifes simple pleasures in their drive to provide that inheritance . A life insurance policy can do that at the beginning of retirement leaving the person the balance of assets to spend as they wish . Some people have estates that are subject to estate tax . The problem with estate tax is that if there isnt cash to pay the taxes , assets are often sold at below market value to pay the tax . Having cash can make the difference of keeping the family business going , maintaining the family farm or closing them up for taxes . Since that can happen at any time , a whole life policy is particularly flexible in that regard . Whole life insurance is often used when a person wants to leave a specific valuable asset to one child but wants to treat all the children in the same manner . The heirs that are not going to get that valuable asset could receive equivalent proceeds from a whole life policy and everyone would be happy . A whole life policy is often used to purchase the interest of another party in a business . In this case the surviving partners dont particularly want to share everything with a widow who may not be acquainted with the business . A whole life policy can provide the cash to take care of that situation by giving the survivors the funds they need to purchase the widows interests . Sometimes whole life insurance is used to fund day to day living expenses in retirement . I just finished a comparison that showed that a whole life policy performed as well as a fixed annuity in accumulating money for retirement and that it did that with the promise to pay the full benefit should the person die before retiring . The whole life policy has non-forfeiture provisions which can pay a lifetime stream of income if desired or the policy would also give the person the flexibility to use the policy in other ways depending upon future , unforeseen events . This may sound strange but I often get requests for whole life insurance from older individuals . They seem to appreciate the value of lasting protection at a fixed price .


Input: Why Was Life Insurance Created?

Output: The idea of insurance has been around for centuries . It started as a way to reduce risks with cargo on ships being lost at sea . Life insurance just became a product to transfer risk when it came to an important financial loss of life in business transactions . From there it has evolved to modern day life insurance needs in which we are all familiar .


Input: Why Was Life Insurance Created?

Output: Life insurance is a way to share an unacceptable risk . The premature loss of a human being is a tragedy . That loss can create a severe financial impact . Sharing that risk was the motivation to establish the first life insurance societies and later companies .


Input: Why Was Life Insurance Created?

Output: The idea of insurance first began as a way of reducing risk for given transactions . The purpose of insurance as we 've come to know it today is to shift the risk of a catastrophic financial event to a third party -LRB- the insurance company -RRB- by paying a premium to the carrier in exchange for coverage . In life insurance , the policy creates cash upon the death of the insured . Many people buy life insurance for different reasons - such as paying off debts so the family members wo n't be stuck with those bills -LRB- e.g. mortgage , cars , etc. -RRB- , income replacement , estate planning , leaving a legacy to loved ones , just to name a few .


Input: Does Health Insurance Cover Jenny Craig?

Output: Jenny Craig will usually fall under the category of an elective service . Although an excellent service and the idea of getting healthier excites me ... unless it was under doctors orders and considered medically necessary , it wo n't get paid for as a claim . However , many insurance plans offer discounts on similar services , so check with your carrier 's association to see if you can save some money while you get healthy .


Input: How To Compare Long Term Care Insurance Policies?

Output: Long Term Care brokers make it fairly easy to compare plans . When you decide what type of coverage you want , they will bring you the best three quotes . There will be a summary sheet that indicates what features are included on each policy , and the cost for each . Thus , you can review the one summary sheet to get a good idea of which policy has the features you want , at the lowest cost .


Input: How Much Should I Expect To Pay For Renters Insurance?

Output: It is usually anywhere between $ 20/month to $ 100/month based on the coverage that you need for your household . Most people choose a minimum of $ 25,000 for their personal property . All of the other coverage is usually a percentage of the personal property amount . Hope this helps you out in your decision making .


Input: What Are The Disadvantages Of Long Term Care Insurance?

Output: Long Term Care has a few disadvantages . The first as the others have pointed out is the risk of the owner dying without using the coverage . The insurance company would collect premium for a number of years and never pay a claim . There are some alternatives to Long Term Care that could help with this issues such as the number of deposit products on the market . Companies like Lincoln , Equitrust and others offer plans that allow the consumer to simply deposit a lump sum of money with the carrier . They are given instant leverage on the lump sum toward LTC and a death benefit . For example 100K deposited may leverage to $ 220K for LTC and have an immediate DB of 150K . The negative is the client does not get any interest on the money but with the very low fixed rates of return on money today , that may be a better way to go . The plans come with an ROP rider so the money would be returned upon request . The other negative -LRB- That I have seen multiple examples of -RRB- is a person that buys long term care and does n't really have any assets to protect . Arguments could be made that coverage is still useful in this situation but its hard to justify paying the premium when there is no accumulation of assets for the policy to protect . The money being spent on monthly premium could be put to use in other places . Last thought is LTC should be considered when you are in your 50 's . It gets much more expensive once someone hits their 60 's . Consumers also need to understand that it is likely the premium will increase down the road when the insurance companies applies for and is given a class action rate increase approval .


Input: What Are The Disadvantages Of Long Term Care Insurance?

Output: What are the disadvantages to long term care ? First and foremost , price . Not necessarily the price you pay now for the policy , but the future potential cost of the policy . No one can say with any certainty what the cost of an existing policy will be in 5 to 10 years . That is the only real disadvantage to a long term care policy .


Input: What Are The Disadvantages Of Long Term Care Insurance?

Output: I can not think of any disadvantages of owning a long term care plan other than paying premiums and never having a claim . Of course , not having a long term care claim means you died without having your health decline to a point of needing assistance every day of your life . Most people would consider this a blessing . There are many disadvantages for not owning a long term care policy and needing daily help . This could result in signing over all of your assets to a nursing home and leaving your surviving loved ones with nothing to inherit . Or worse , not having enough assets to be able to spend your final days in a nice facility versus a government ran facility and dying with your dignity .


Input: What Are The Disadvantages Of Long Term Care Insurance?

Output: The main disadvantages of Long Term Care insurance would be that you would die before you were able to use it or that you would be blessed with a long and healthy life and never need long term care before you passed away . Other than that the disadvantages are that it is becoming more expensive and that fewer insurance carriers are offering Long Term Care insurance . Of course , the reasons for this are testimony to the need for long term care insurance , people are living longer and therefore more people are having some period of need for long term care and long term care facilities are getting more expensive .


Input: Does SSDI Include Medicare?

Output: If you are qualified for SSDI , Social Security Disability Income will qualify you for Medicare . In most cases you must receive SSDI payments for 24 months before you can go on Medicare . Some situations , such as ESRD -LRB- end stage renal disease -RRB- or ALS -LRB- amyotropic lateral sclerosis - Lou Gherig 's disease -RRB- will qualify you for Medicare sooner .


Input: Can An Llc Own Life Insurance?

Output: Yes . Corporations can own life insurance on its key employees under whats known as `` key man insurance '' . Most companies will not purchase individual life insurance on just any employee . In addition corporations can get group insurance policies for all of their employees . These policies extend coverage to eligible employees and is owned by the corporation .


Input: Does Health Insurance Come Out Of Your Paycheck?

Output: If you work for a business that provides health insurance as an employee benefit , often your employer will contribute a portion of the cost of the health insurance plan . Unless your employer pays 100 % of the cost of health insurance , the balance would be paid by you in the form of a deduction from your paycheck .


Input: Can Dogs Have Life Insurance?

Output: Most insurance companies do n't offer life insurance for pets nor do most agents have it as a type of coverage they offer . Pet insurance does not pay out proceeds like a traditional life insurance policy . It typically covers veterinary fees , pet health conditions , damage to someone 's property -LRB- caused by the pet -RRB- , and/or pet funeral needs . I would recommend consulting with your veterinarian and see if they can refer you to an agent that offers this type of coverage .


Input: Can Dogs Have Life Insurance?

Output: That is a great question ! You know if there is money to be made off of it , someone will offer it , so yes , you can get life insurance on your dog . There are companies out there that will provide that insurance , I 'd be willing to bet that your vet could give you some advertisements or the business cards for an agent that will write you . You should be aware that most of the policies do not pay you at the dog 's death , but instead covers the costs of the pets ' funeral needs . Thank you for asking !


Input: Can Dogs Have Life Insurance?

Output: Yes , but you can only buy it from licensed dog agents . :-RRB- Seriously , I can not find any explicit life insurance plan for pets , but I see the some pet health insurance plans have an allowance for pet funerals , burial , and/or cremation . Here is a great website for comparing those plans . WEBSITELINK


Input: Can Dogs Have Life Insurance?

Output: It has happened more than once that a legitimate insurance company has issued a policy on a pet . I recall on one occasion when someone insured their goldfish . There isnt a question on the application that identifies the species being insured . It always causes a stir when this type of thing slips through underwriting . I would think that the height and weight question would give a pet away .


Input: Can Dogs Have Life Insurance?

Output: I have never heard of pet life insurance , but it is not to say it exists . The few policies of pet insurance I am familiar with all work like health insurance to offset some cost of a veterinarian costs for sick or injured dogs and cats . It is very affordable and vet bills can get expensive . Maybe check with a pet cemetery they may have knowledge of something .


Input: Can Creditors Access Life Insurance Proceeds?

Output: Every state has differing rules on creditors . Most exempt life insurance death benefit proceeds from the claims of creditors . Creditors generally do not hold a position before the beneficiaries of a life insurance policy on benefits paid out . The policy beneficiaries receiving proceeds just before filing chapter seven and six months after may be ruled as property of the bankruptcy estate . Consult your bankruptcy attorney before relying on any information in this post .


Input: When Does Health Insurance End After Divorce?

Output: The Consolidated Budget Reconciliation Act -LRB- COBRA -RRB- provides for continuation of health insurance after a divorce for up to 36 months . The qualified beneficiary must notify the plan administrator within 60 days after the divorce or legal separation . In most cases the premium costs will come as a shock . Many employers pay a portion of the premium costs for the employee and legal dependents . Coverage paid for under COBRA loses the employer contribution and reveals the true cost of coverage .


Input: What Does Vacant Home Insurance Cover?

Output: Coverage on a vacant home would cover perils such as Fire , Wind , Lightning , Hail and other perils such as Vandalism and theft . It will also cover liability if someone is hurt on the property . Frozen pipes would only be covered if there were reasonable attempts to prevent such freezing . Reasonable attempts must also be made to secure the home and maintain the home .


Input: How Much Can I Get For Disability Insurance?

Output: Most individual insurance policies provide for 50-70 % of income replacement , with 60 % being typical . However , the disability insurance policy can sometimes provide up to 80 % of your annual salary , when adding up the DI policy benefit plus what is received from other sources . In other words , if your basic DI benefit plus income received from other sources does not total 80 % , your DI policy will pay the difference .


Input: How Much Can I Get For Disability Insurance?

Output: If you think you 've maxed out your limit , think again . While most carriers will only provide 50-70 % , some carriers , such as Petersen International , will add even more benefit to what 's already existing . Be sure to ask you agent about other options too , such as retirement plan disability insurance and critical illness .


Input: How Does Cash Value Life Insurance Work?

Output: There are four types of permanent life insurance policies that have the potential to accumulate cash values : participating whole life , current interest rate universal life , index universal life and variable life . Participating whole life credits dividends when declared , i.e. there not guaranteed . The other three are current assumption universal life policies that can credit an interest rate , an index return or a separate sub account performance -LRB- which could be negative -RRB- with access to market equities and bonds . After the policy fee , premium load , admin expense and cost of insurance is paid , the earnings , if any , are credited to the account cash values and net premium . Keep in mind these policies generally have surrender charges applied to the cash values account in the early years of the contact .


Input: Can Tricare Be Primary To Medicare?

Output: Once you reach age 65 all of your health care providers will send bills to Medicare . After Medicare pays their benefit , the bill will be sent to Tricare . This process is relatively seamless . In fact your health care provider will often advise your bill to both Medicare and Tricare prior to rendering services . Any amount that you owe will be computed and normally collected before you are treated .


Input: Can Employers Contribute Different Amounts Health Insurance?

Output: They can as long as they are not discriminating within a class of employees . For example , it is not uncommon for an employer to contribute on dollar or percentage amount towards the coverage of salaried employees and another dollar or percentage amount towards hourly employees . This is quite common where a labor union collectively bargained agreement is in place . Where an employer can get in trouble is where they choose to discriminate within the same class of employees . So , as a general rule all salaried employees should be treated the same from an employer contribution standpoint as should be the case with all hourly employees . Contributing 50 % of the cost for one salaried employee and 75 % of the cost for another similarly situated salariedemployee could be the grounds for a labor discrimination lawsuit for the employer .


Input: Who Has The Best And Cheapest Car Insurance?

Output: This is a difficult question to answer because all companies are different in what makes up their ideal market . Some companies specialize in 30 + year olds , others in young drivers . Local has a lot to do with car insurance rates as well . In addition , insurance rates are based off the type of coverage an individual is seeking . So to say one company is the best and cheapest is really impossible to do . I would suggest contacting an agent in your state and provide them information specific to you . They should be able to narrow companies down that will suite your individual needs . Then compare coverage and rates to find the best company for you !


Input: What If You Lie About Smoking On Life Insurance?

Output: what if you lie about smoking on a life insurance application ? It 's actually going to depend on what state the policy was taken out in . Normally there is a two year contestability period where insurers have the opportunity if they choose to contest a policy by finding information that would change the policy . Except when it comes to smoking in some states . In my state lying about smoking voids the policy at any time . It is not subject to the two year rule . The state feels a contract was never formed so the two year clause never applies .


Input: What If You Lie About Smoking On Life Insurance?

Output: If you lie about smoking on your life insurance application , there is a chance that the underwriter will find out even while evaluating your policy rating . They may find out by your blood or urine test or by your medical records . If that happens , all the questions you answered on your application will be suspect , which does not contribute to getting the best rating . However , most companies will go ahead and approve the policy at smoker rates , if the applicant qualifies otherwise .


Input: Who Offers The Best Renters Insurance?

Output: Your trusted insurance agent offers the best renters insurance . He will listen to you , offer sound financial advice and communicate clearly with you and the insurance company . He will assist you in setting appropriate limits . The worst renters policy is one with inadequate limits . That policy will not make you whole when you encounter a claim . The best is the policy that does pay your claim to the maximum extent possible .


Input: What Are Liquid Resources In A Life Insurance Contract?

Output: Permanent cash value life insurance may have accumulating cash values based on the contract 's crediting method less any policy expenses and/or fees . Keep in mind that these policies have surrender charges in the early years that may restrict access to the policy 's cash values . There are also policy loan charges for borrowing cash values from the policy .


Input: What Are Liquid Resources In A Life Insurance Contract?

Output: Liquid resources in a life insurance policy is another name for the cash value in a permanent policy . The face amount of a policy is not liquid because the insured person must pass away in order for the death benefit to be paid . However , cash values can be borrowed from or surrendered .


Input: What Are Liquid Resources In A Life Insurance Contract?

Output: Permanent life insurance or cash value life insurance has liquidity through the cash surrender value of the policy . If you `` liquidate '' your lifeinsurancepolicy , the insurance company will give you the cash surrender value of the policy . In the first few years , the policy may have no value if canceled but , over time , the cash surrender value can grow .


Input: What Are Liquid Resources In A Life Insurance Contract?

Output: Assuming you mean lifetime income you cant outlive : single premium immediate annuities with the option to distribute regular payments for the life of the annuitant or deferred annuities that are annuitized for the life of the annuitant can be construed as a living annuity .


Input: Does GINA Apply To Disability Insurance?

Output: Unfortunately , GINA -LRB- Genetic Information Information Act -RRB- does not apply to Disability , Life or Long Term Care insurance at this point in time . If you have had genetic testing done and it is part of your medical records , there is a chance that the underwriters will consider the results in their review , but it is not a certainty .


Input: Does Homeowners Insurance Cover Busted Pipes?

Output: If the cause of the breakage was wear and tear then homeowners insurance does not cover replacement of the pipes . However , homeowners insurance will cover damage to the dwelling if the breakage caused water to leak into the home thereby damaging the dwelling . If the breakage was caused by freezing you may have coverage .


Input: Is There Any Cash Value To A Term Life Insurance Policy?

Output: By the definitions of term life insurance and cash value or permanent life insurance , term life insurance is temporary and does not accumulate any cash value . Only the permanent types of life insurance such as whole life , universal life , indexed universal life and variable life insurance have any cash value typically after five years or so .


Input: Is There Any Cash Value To A Term Life Insurance Policy?

Output: That is a great question ! There is a reason why cheaper things are cheaper . In the case of life insurance , term policies are much cheaper than whole life policies are . The reason ? Term policies have zero frills . They rarely have to pay out , as the terms usually expire before you do ; and they have nothing extra in the payment but insurance costs , so there is no accumulating cash value either . Term policies can be a good option in some cases , please be sure that you speak with an agent to make sure that it is right for your needs . Thanks for asking !


Input: Is There Any Cash Value To A Term Life Insurance Policy?

Output: The cash reserve that is required to keep a premium level is what generates the guaranteed cash value of an insurance policy . Term insurance policies are usually of shorter duration and consequently the reserve is created and used up so there is no cash value available to policyholders . Some policies of longer duration have a cash value or some other non-forfeiture option like reduced paid up or extended coverage . This varies by company and you you need to check your policy for details . An independent life insurance broker , representing several companies , can help you find the right policy at the right price . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Is There Any Cash Value To A Term Life Insurance Policy?

Output: Unlike Whole or Permanent Life , Term Life does NOT accumulate equity . It is pure life insurance . It protects you against death , so your beneficiaries will be paid upon your death . Permanent life will grow value against which you can borrow , or retire upon . Term does not allow this . In exchange , the premiums start out substantially lower , but only for the fixed term of years . Thank you . GARY LANE .


Input: Can Creditors Claim Life Insurance Benefits?

Output: If the creditor is going after life insurance proceeds that have been left to the insured person 's estate , and is doing so to pay off bills left by the deceased , then the creditor can claim life insurance benefits during probate . If the beneficiary of the life insurance policy is a person , then creditors can not take the death benefit away from the beneficiary . There may be some exceptions , such as if the beneficiary was a co-signer to the debt .


Input: Can Creditors Claim Life Insurance Benefits?

Output: So long as there is a named beneficiary to receive the life insurance proceeds upon your death , those proceeds can not be attached or encumbered in any way by a creditor . The proceeds are also not taxable , though the interest or growth that invested proceeds generate are . Now , that having been said , if there is no beneficiary and the proceeds are paid therefore to your estate , as my colleague pointed out , once in the estate , they are fair game . Talk to your Insurance Professional regularly , perhaps once a year , to discuss any changes that may have happened in your life that can affect your Life Insurance . This is also a very good time to review your coverage to be sure it is what you need and that it is still accomplishing what it was indended to accomplish .


Input: Can I Claim Disability Insurance On My Taxes?

Output: If you are an individual purchasing an individual disability insurance policy , you generally can not claim disability insurance on your taxes . It is not considered a medical expense . However , if you collect benefits due be becoming temporarily or permanently disabled , you do not have to pay taxes on those , because you paid for the policy with after tax money .


Input: Can I Claim Disability Insurance On My Taxes?

Output: There are rules on deductions or the business expensing of disability insurance premiums . If your business fits the IRS approved criteria , the company can deduct the premium . Keep in mind that deducting disability premiums also re-characterizes the benefits as taxable as ordinary income at the policy beneficiary 's effective tax bracket rate . The good news is you can cover up to 80 % of your compensation .


Input: How Much Disability Insurance Is Needed?

Output: How much disability insurance is needed ? The answer is going to vary by individual . Some consider disability income sufficient if it replaces 70 % of your taxable income , since often individual disability is tax free . You might need a greater amount if your insurance is taxable income . You also may need to look at inflation protection with your plan . But honestly , what ever you can afford and keep in-force is what you should consider as a minimum . Some income is better than no income and disability coverage should not be looked at as a all or nothing choice .


Input: How Much Disability Insurance Is Needed?

Output: Disability insurance benefits generate a stream of income during times of prolonged illness or injury recovery . Non deductible premiums also mean your benefits will be tax free . In general terms , you can cover around 60 % of your compensation . Compare that to your cash reserves and the elimination or waiting period before benefits start . This will give you a good starting point to determine what you need or what you can afford .


Input: What Happens To Your Annuities When You Die?

Output: If you have a lifetime income annuity , the payments will stop when you die , unless you have some other guarantees in your contract -LRB- such as the guarantee to at least get your premium back , or receive payments for x number of years -RRB- . This type of annuity is guaranteed to provide a set income stream for life , no matter how long you live . So you may end up getting a slightly reduced interest rate if you opt for those secondary guarantees . If you have an annuity that is set up to pay out for a certain number of years , and you died before those years were up , the remainder of the annuity will be paid out to the beneficiary you named on the contract .


Input: Does My Car Insurance Cover Me Abroad?

Output: An automobile policy covers an automobile . The coverage applies in the US , and Canada . Coverage also applies in Mexico within fifty miles of the United States border . It does not cover a vehicle licensed or operating in any other country . The driver is not the consideration . The consideration is the automobile . If you want to drive in another country buy insurance in the other country for that period of time .


Input: How Do You Get The Best Life Insurance Quotes?

Output: How do you get the best insurance rates ? Well , be in the best possible health you can be . Your price you pay for life insurance is simply related to your overall health and health history . Insurance companies create rate classes in which they lay out exactly what health requirements are needed for the insured to get that price . Where you fall into a class health wise , determines your price .


Input: How Do You Get The Best Life Insurance Quotes?

Output: That is a great question ! The first thing that you do is find a live agent . Not one on the end of a phone , or an internet chat box . Life insurance is one of those things that you need to see the person and how they react when you are speaking with them -LRB- like a car salesman -RRB- . Look for a couple of independent agents , -LRB- one that is not tied to a specific brand name -RRB- and have them give you several companies and quotes to compare . If one or both of them try to `` hard sell '' you , leave , and never return . That 's usually a good sign that they like commissions more than they like you . When you find an agent and a policy that fits you , then buy it . I hope that helps , if you want more info , drop me a line . Thanks for asking !


Input: How Do You Get The Best Life Insurance Quotes?

Output: Your best course of action would be to contact an agent directly . Tell them what your looking for . They will ask you questions to narrow down which companies may be the best fit . In this particular case , I would recommend an independent agent so they can compare dozens of companies for you all in one place . Full disclosure is key . You need to be 100 % upfront with your agent when they ask you the medical & lifestyle questions .


Input: How Do You Get The Best Life Insurance Quotes?

Output: The best way to find the best rates for the life insurance policy that meets your unique needs is to find an experienced independent life insurance broker that represents multiple insurance carriers to professional shop for you . Most life insurance brokers share their experience to you for free and are compensated by the insurance company . if you do n't know one that you trust , we are always happy to help .


Input: How Do You Get The Best Life Insurance Quotes?

Output: Getting the best life insurance quotes can be like walking a tightrope . Some agents will quote low just to get your application . Then when you are approved , they simply send you the policy , assuming you will be tired of the process and just give in and accept it.Other agents quote high because they would rather give you good news that your rate turned out lower than higher than quoted . What really matters in the end , is that you get a policy with a life insurance company that is favorable to your type of health , age , and the type of policy you get -LRB- Term , Whole Life , or Universal Life -RRB- . So no matter what quote you get , you need to pay close attention to the credentials of your agent . Some things to look at are : 1 -RRB- Are they able to shop for you from more than one company ? 2 -RRB- Do they ask questions to determine what policies and ratings you qualify for ? 3 -RRB- Do they appear to understand your health condition -LRB- s -RRB- ? 4 -RRB- Do they have a following as evidenced by testimonials , referrals , etc ? 5 -RRB- If they have a website , does it have security and privacy features ? 6 -RRB- Do they appear to be sincere and honest ? If you can get in touch with an agent who has those credentials , chances are that your quote will be as accurate as possible . More importantly , no matter what your quote is , you will have the best chance at being approved at the best rate with the best company for your particular health and age .


Input: How Much Should I Be Paying For Homeowners Insurance?

Output: There are several variables that determine a rate for homeowners insurance . Claim history , type of home , age , condition , credit and discounts . Most companies today are pricing for package policies . The more lines of insurance you have with one company the bigger your discount . When comparing one company vs. another make sure you are comparing `` apples to apples '' . There are a lot of optional coverages when it comes to home insurance so just because a policy is the cheapest does not mean it 's the best option for you .