Input: Does Green Card Holder Get Medicare?

Output: For green card holders to become eligible for Medicare , they have to meet 2 conditions : 1 -RRB- Work in the United States for at least 40 quarters and paying FICA taxes for Medicare -LRB- as it is for everyone -RRB- . 2 -RRB- Live in the United States for at least five years continually -LRB- cant do 2 years here , a year somewhere else , and then 3 more years here -RRB- . If you meet condition 2 , but not condition 1 , you would be able to get Part A , but would have to pay the premium -LRB- up to $ 426 per month in 2014 -RRB- . Part B premium is paid by all Medicare beneficiaries regardless .


Input: Is A Term Life Insurance Policy Considered An Asset?

Output: While most term insurance doesnt develop cash values , there are a few that do . I suppose in those cases the cash value could be listed as an asset . It would probably be a minor amount . Normally term insurance provides a death benefit if death occurs during the term of the policy and nothing else .


Input: Is A Term Life Insurance Policy Considered An Asset?

Output: No , a term life insurance policy is not an asset . The only type of policies that are considered assets are whole life and universal life because these polices accumulate cash value . The only point where a term life insurance policy would be an asset is after a death claim and the proceeds would become an asset to the beneficiary .


Input: Is A Term Life Insurance Policy Considered An Asset?

Output: That is a great question ! Your term policy can be considered an asset in the regard that you have some peace of mind having some limited insurance coverage , as opposed to having none . In any financial regard , no , you ca n't say that it is . First of all there is no value to it , unless you pass away during the term , and you have no tangible asset once the term expires.Unless you were looking for a cheap insurance policy to cover a short term debt , or as additional coverage , I 'm not a fan of term policies at all . Sorry , but I appreciate you asking !


Input: Is A Term Life Insurance Policy Considered An Asset?

Output: If you are applying for assistance , you do not have to list Term Life insurance as an asset . It does not have cash value , and the proceeds from the policy would go to your beneficiary if you are the Insured . Even if you are the beneficiary on someone else 's Term policy , you need not list that as an asset .


Input: Is A Term Life Insurance Policy Considered An Asset?

Output: I like Jim Winkler 's answer above , `` in the regard that you have some peace of mind having some limited insurance coverage '' a term life policy could be considered an `` asset '' , but really not in any financial way . As Peggy said even if you are the beneficiary of someone 's term life policy you ca n't count it as an asset in terms of figuring your net worth in a financial statement or to borrow against . You can buy a credit term policy to cover a debt in the case of your death , but it still is n't counted as an asset . Again , I 'm with Jim - I do n't value or recommend Term life policies generally . They have their place in some situations , but more of a last resort in my opinion .


Input: Can Annuities Be Liquidated?

Output: This depends on the annuity , but generally speaking , yes they can . A Deferred Annuity can be fully liquidated at any time . However , at the beginning of the contract there is an `` Early Surrender Charge '' if you withdraw over a certain amount . Usually this amount is anywhere from 5 % -15 % that you can withdraw free of any charges . An Immediate Annuity -LRB- or a fixed annuity that has been annuitized -RRB- has less options . But usually you are able to surrender the income stream for a certain percentage of the original deposit . However , there are usually time constraints on the percentage that is available .


Input: Is Disability Insurance Expensive?

Output: Disability Income insurance -LRB- DI -RRB- being expensive is a relative question , and the question back is `` Relative to what ? `` Then , it becomes a question of value : `` Does the value provided by a policy that replaces up to about 2/3 of one 's income if they become unable to work due to accident or illness justify the premium the agent is showing me ? `` First , let 's just deal with the question of cost . Disability income insurance does become expensive the older one gets . Whereas the premium for a DI policy might run about 1-2 % of one 's income in their 20 's , it could cost about 4-5 % of their income in their late 40s or 50s . After age 60 , few carriers will even consider an application for DI insurance -LRB- although there are specialty carriers that will write `` term '' DI over that age -RRB- . DI is a complex insurance contract and has many `` moving parts '' . The more risk you want to transfer to the insurance company -LRB- amount of income to replace , inflation protection of income being replaced , future purchase of monthly benefit without the need to medically qualify , to name a few -RRB- , the higher the premium.Obtaining DI insurance through employee benefits may cost nothing - the employer picks up the tab for all employees . There may also be options to `` buy up '' additional coverage not provided in the employer-paid portion of the coverage . This is an inexpensive way to get at least some coverage against the risk of not being able to work for an extended period of time.Buying one 's own DI contract , however , puts the policyowner in control of all costs and coverage available from the insurance company . Whereas group DI can be canceled without notice by an employer , and when one leaves employment with that company DI coverage is rarely portable , owning one 's own policy usually provides the best , long-term solution to the problem . When you own your own DI , your coverage can not be cancelled . Premiums may also be guaranteed to never go up . And , regardless of where you work after getting your own policy , you 're covered.So , is DI expensive ? Run the numbers on yourself . If you could n't work for an extended period of time - or never be able to work -LRB- permanent and total disability -RRB- - how would you pay the cost of living ? Mortgage payments ? Food ? Rent ? Clothing ? Car payments?One is more likely to experience a disabling event in his/her lifetime than to die prematurely . Insure your paycheck . The cost is worth it .


Input: When Do I Need Commercial Auto Insurance?

Output: This is just to help flesh out the above answer . The two basic thresholds for getting a commercial auto policy . 1 . You have a type of legal business entity in place -LRB- e.g. Corporation , S-Corp , Partnership , LLC -RRB- and you want there to be a company car ; OR 2 . You are doing business as an individual and you have five or more automobiles associated with the business . While that is easy , it gets more difficult if you do not own the company , but are merely and employee or agent and you are using your personal automobile for business purposes . The business will have to add an endorsement to its Commercial Auto Policy to cover other owned vehicles , so you have coverage . However , the limits associated with liability on your companies Auto Policy might not be high enough to cover you in a serious accident . Here is where you will have to coordinate your personal auto liability coverage with your companies liability in order to make sure you are adequately covered . Hope this helps .


Input: When Do I Need Commercial Auto Insurance?

Output: Because most personal auto insurance policies will not provide coverage if the the vehicle is used for business . Having the proper coverage types and amounts will help prevent you from being financial exposed should an accident occur . Please contact a local agent to have them provide you with the types of coverage available in your area and the costs aasociated with them .


Input: When Do I Need Commercial Auto Insurance?

Output: Because the exposures that a business vehicle has are different from those of a private car , the personal lines auto policy excludes business coverages . A commercial policy normally covers a fleet of vehicles with multiple drivers . It also provides coverage for those occasions when an employee uses their own car in pursuit of your business . The commercial policy anticipates the exposures that are a part of conducting a specific business .


Input: How To Sell Life Insurance From Home?

Output: I wrote a copyrighted article about how to sell life insurance from home , a number of years ago . In it , I outlined some tips for getting started , and how to achieve some success in that endeavor . You can read the article here at this website : WEBSITELINK


Input: How Good Is SBI Life Term Insurance?

Output: SBLI or Savings Bank Life Insurance company is an A + rated carrier . Their term policy is some of the most affordable term life insurance on the market . I have personally represented them for years and use them frequently with my clients who need term life insurance to cover a situation for a certain period of time .


Input: How Good Is SBI Life Term Insurance?

Output: SBLI stands for Savings Bank Life Insurance Company of Massachusetts . The company is rated A + by AM Best at this time . They offer both guaranteed level term insurance and annually renewable term . With a highly rated company and a guaranteed level term product , you should have a good term life insurance policy with SBLI .


Input: When Does Obamacare Take Effect?

Output: There are many provisions in the Affordable Care Act that take effect at different points in time . Plus , as the new law is rolled out many of the time bound provisions have been postponed due to delays in implementation . The most prominent feature is access to individual health care plans . People enrolling during the initial open enrollment have plan effective dates of January 1 , 2014 .


Input: Can I Take Out A Life Insurance Policy On My Brother?

Output: You can if you have an ` insurable interest . '' That means that there is some sort of financial link between you . Your brother would , of course , need to cooperate in the process , sign the application and provide medical information . There are many circumstances in which this would make perfectly good sense .


Input: Can I Take Out A Life Insurance Policy On My Brother?

Output: If your brother is a business partner with you , taking out life insurance policies on each other would be an excellent way for one of you to buy the other out , if one passed away . If your brother is disabled and you have been contributing regularly to his financial well being , you could take out a life insurance policy on your brother . Both to pay for his final expenses , and also to partially repay you for your generosity to him over the years . There are other situations where taking out life insurance on your brother is legitimate in world of life insurance . There are also some situations where taking out life insurance on your brother would not be allowed . Contact a reputable agency online or locally to discuss your particular scenario .


Input: What Are The Best Health Insurance Options For Military Families?

Output: As a former veteran myself , I remember having some of the best health care around . Military families usually have insurance called Tricare . Its close to free and it works great . The system works for Active Military as well as retirees .


Input: How Are Annuities Calculated?

Output: Annuities have two basic components : the net credited earnings from the annuity companys investment portfolio and mortality credits assigned by the age and gender for lifetime annuitization . The gross rate of return from the companys portfolio less company expenses and the targeted spread they keep generate the basic calculation .


Input: Does The VA Offer Life Insurance For Veterans?

Output: The VA does offer life insurance for Veterans , but there are narrow guidelines as to who can get it . If you are currently retiring from active service , you must apply to change your SGLI to VGLI within 120 days -LRB- you can wait one year longer with evidence of good health -RRB- . You can also get Veterans Group Life Insurance if you are a member of the Individual Ready Reserve or Inactive National Guard , or were disabled as a result of such service .


Input: Does The VA Offer Life Insurance For Veterans?

Output: Yes , My uncle was raved with Agent Orange in the Vietnam War and recently purchased $ 250,000 from them for around $ 600 per month . it is very expensive but he is 65 with multiple serious conditions . This is also a policy underwriten by TransAmerica . There would not be any other company who would have took this on .


Input: Does The VA Offer Life Insurance For Veterans?

Output: The VA offers life insurance for Veterans under certain conditions : 1 -RRB- Those separating from the service may convert their Servicemembers ' Group Life Insurance -LRB- SGLI -RRB- to Veterans ' Group Life Insurance -LRB- VGLI -RRB- for 120 days after release from active duty . With a statement of good health this can be extended one year . 2 -RRB- Service-Disabled Veterans ' Life Insurance -LRB- S-DVI -RRB- provides life insurance to Veterans who have been given a VA rating for a new service-connected disability in the last two years . Totally disabled veterans can get free coverage . 3 -RRB- Disabled Veterans who have qualified for a VA Specially Adapted Housing -LRB- SAH -RRB- grant may obtain Veterans ' Mortgage Life Insurance -LRB- VMLI -RRB- . Unfortunately , the VA does not offer coverage to Veterans who do not meet these parameters .


Input: What Is A Premium For Renters Insurance?

Output: Premium for renters insurance is the price you pay for the policy . It 's set based on how likely a loss is . The average premium for renters insurance is $ 10 - $ 15 per month and buys you $ 15,000 of coverage for your personal property and $ 100,000 of liability coverage . Premium for renters insurance can vary based on location .


Input: What Percentage Of Renters Carry Insurance?

Output: Not enough . The last report that I seen stated that just over sixty percent of the renters in the United States had purchased renter insurance . Renters insurance is typically such a low cost product when compared to the benefits provided ; I find it alarming that the percentage is around ninety or more .


Input: Why Do People Buy Life Insurance?

Output: People usually buy life insurance so that others will not suffer too much financially in the event of their death . As we all know , grief can hit people in strange ways , and having the buffer of life insurance proceeds can help loved ones cope without having to make huge life changes in the midst of it . I have a friend who said when his father died , he , his mom , and other siblings had to immediately get jobs . He said his whole life would have been different if his dad had life insurance . People also buy life insurance to leave a legacy to their loved ones by which they will be remembered , or to give to charities , or to enable family members to buy their business , or a realm of other things . There are not many ways that someone can help others from the grave . Having life insurance is one .


Input: Does Each Person Need Renters Insurance?

Output: Some companies will cover unrelated individuals living together under the same contract as long as they are each listed in the policy declarations . Some will not . Ask you agent or broker about your specific situation . It is a safe bet that if you take on an unrelated roommate , he or she will NOT be covered unless specifically added to the tenants package policy .


Input: Where Should I Get Life Insurance?

Output: You should get life insurance where you trust the agency , have a choice of products , can get good advice and customer service , and where you know you will be sold a solid policy that will stand the test of time . This can be in person or it can be online .


Input: Does Renters Insurance Cover Theft Of A Bike?

Output: Renters insurance covers your personal property and bike is consider personal property . For examble you have a nice high end bike that cost $ 1500 it get stolen at the store you must call your insurance compay and file a claim they will deduct your dedutable from the pay out . Good Luck


Input: Does Renters Insurance Cover Theft Of A Bike?

Output: A bicycle is personal property . Renters insurance covers personal property . The limits of the policy are stated on the declarations . Inside the policy there is a paragraph that describes the reduction in limits for personal property that is not on the premises at the time of loss . Even with this reduction most renters policies provide enough coverage to cover the loss of a bicycle . The adjustment , however , will include a reduction for the deductible . Check the deductible on your policy . If the deductible is greater than the value of your bicycle you will probably be unable to recover the cost of the bicycle .


Input: What Is The Average Cost Of Health Insurance In Rhode Island?

Output: The average cost of health insurance in Rhode Island very much depends on the type of coverage that you elect to have . Next year the exchange program under the Patient Protection and Affordability Care Act of 2010 -LRB- PPACA -RRB- will dramatically change pricing , but again averages will be subject to interpretation and counted guidelines as coverage will vary and so will prices .


Input: What Do I Need To Get Health Insurance?

Output: Today is the deadline for enrolling in the Affordable Healthcare Act , but if you are able to only get started on it today , don ' y worry , there is a two week extension for you to finish.To enroll , you will need social security numbers of everyone who needs coverage ; W2 earnings , for each , and information on any coverage available through an employer . Again , as long as you can get an account opened today , you can finish when the site is n't as busy . As of noon today , the servers were so loaded with last minute shoppers that there were long wait times and occasional outages . If you need any help , please contact me through my link !


Input: Does Suze Orman Recommend Annuities?

Output: Suze has a summary digest online called the `` Truth About Annuities . '' while her overall disposition is negative towards annuities in general she appears to give some credence to their use based on the client 's product suitability and their financial goals . In Truth About Annuities she addresses all types of annuities and reading it will give you her perspective .


Input: Can A Non Us Citizen Get Life Insurance?

Output: Yes , but not all companies will underwrite a foriegn national . Your citizenship status should be one of the things you provide the agent who is doing the footwork for you . Some carriers only underwrite US citizens , some only Canadian and US citizens and some will underwrite just about anyone without a problem .


Input: Can A Non Us Citizen Get Life Insurance?

Output: Yes , non US citizens who are lawful permanent US residents -LRB- green card -RRB- or on certain visa types with a demonstrable life insurance need and generating earned income here is one way that will work most insurers though there may be limitations e.g. no term . Some insurers have developed foreign national programs that can also work in situations where established US interests and ties exist plus meeting some additional criteria . Citizens of some countries may not be eligible . It can be a complex area of field underwriting - so much so that our firm has developed a special questionnaire to help determine the best path . Be sure to work with a life insurance professional with experience in this area .


Input: Can A Non Us Citizen Get Life Insurance?

Output: Yes , a non US citizen can get life insurance with many American companies . It is up to the discretion of each company as to what type of citizenship or residency they will accept . A green card is usually OK , and many companies will accept a work visa as qualification for applying for life insurance in the US . Getting life insurance in the US as a non US citizen , however , almost always requires having a residence in the United States .


Input: Can A Non Us Citizen Get Life Insurance?

Output: Yes . There is absolutely no requirement that a person be a citizen to buy life insurance . Each company makes its own decisions on requirements , but citizenship is not one of them . So long as you are in the country legally , you can buy life insurance . Different ID 's are required by different carriers , but rest assured that if your age and health warrant it , you can buy life insurance on yourself here in the USA . Love to help . Thank you . GARY LANE .


Input: Can I Get Life Insurance On My Mother In Law?

Output: If you contribute financially to your mother-in-law , if she provides you with supplemental income , if she owes you money , or if you would be the one responsible to pay for her funeral , those are all considerations that would likely allow you to purchase a life insurance policy on your mother in law . If there was no financial tie between you at all , you would probably be unable to purchase a policy on her .


Input: Will Medicare Be Available In The Future?

Output: You raise a very interesting question . How many seniors are covered under medicare . How many baby boomers are qualfying for medicare every day ? Medicare is like Social Security and the government that has the courage to monkey with the benefits we have all qualified for is probably risking their ability to get re-elected


Input: Can I Get Out Of My Car Insurance?

Output: If you mean can you cancel or change your car insurance , then the answer is yes , any time you like . Now , keep in mind that in most if not all states , you are required to have and maintain continuous car insurance that at least provides liability coverage in order to register a car . So , can you cancel your car insurance ? Yes , but unless you replace that coverage without any lapse , you may be in danger of being severly fined or at worst , have your car 's registration cancelled .


Input: Who Sells Annuities?

Output: In California an annuity can be sold by anyone holding a life and disability insurance license . This license is issued by the state insurance commission . Normally these licensed individuals operate out of insurance agencies but they also exist in savings institutions and other , less likely places . An annuity is a complicated product and should not be purchased like you might purchase a box of cereal . Get solid financial advice and counsel before you purchase an annuity .


Input: Who Sells Annuities?

Output: Insurance companies sell annuities . They do so through life insurance agents , but not just necessarily in insurance offices and insurance websites . Banks , funeral homes , financial planners , stockbrokers , and other entities can sell annuities if the representative selling them has an up to date life insurance license . For variable annuities , they also need SEC licenses .


Input: Who Sells Annuities?

Output: Annuities are contracts with an insurance company and , as such , are sold by life insurance agents and agencies . Fixed and indexed annuities can be sold by agents licensed in Life Insurance . Variable annuities involve investments so agents selling variable annuities must also have series 6 and 63 licenses . You can also shop for annuities on the internet up through the time of finalizing the transaction , which usually takes place in person .


Input: Does Homeowners Insurance Cover Damage By Renters?

Output: Most homeowners policies cover a specific location . This location is identified in the declarations of the policy . If you own other property which you hold out for rent you can cover those properties with a fire policy which is cheaper because there isnt much coverage for personal property . If the tenant damages that rental property it will be the definitions in the fire policy that will determine if coverage is available .


Input: Will Medicare Cover Assisted Living?

Output: Medicare provides coverage for treatment that is considered medically necessary . In most cases , residents in assisted living facilities will not qualify for coverage under their Medicare plan . If Medicare is to pay you must be admitted to a skilled nursing facility following a qualified hospital stay of at least 3 days as an inpatient .


Input: What Is The Meaning Of Annuities?

Output: My Latin may be a bit rusty but annuitas means annuity or yearly , i.e. a yearly or today a systematic payout over time . Annuities are generally purchased for income later in life . Annuities in the U.S. have tax deferred treatment and can even be annuitized over your life time .


Input: How To Get Help Paying For Health Insurance?

Output: Outside of friends and family , in 2014 and beyond , the primary means that a person can obtain assistance in paying for health insurance will be in two ways ; 1 -RRB- Meeting the low income eligibility thresholds to qualify for Medicaid in your home state -LRB- which after the Supreme Court decision throwing out the requirement that states raise their eligibility thresholds for Medicaid can vary from state to state -RRB- 2 -RRB- By qualifying for an Advanced Premium Tax subsidy through the Federal or State health insurance marketplace available in your state of residence . Technically , individuals and families can qualify for such subsides all the way up to 400 % of the Federal poverty level , which right now isa little over $ 42,000 / year for an individual and a little over $ 94,000 / year for a family of four . I say technically because as you approach these upper limits the subsidies decline rapidly to such small amounts that they have little financial value in proportion to the overall cost of health insurance . People in the 138 % to around 275 % of the Federal poverty level get the most benefit from these subsidies .


Input: Will The Cost Of Medicare Go Up In 2014?

Output: The cost of Medicare will almost certainly go up in 2014 . The cost of health care is rising , the population is aging and not getting any healthier . In addition , utilization of medical services continues to rise at a staggering rate . Unless Congress yields to political pressure , you should anticipate your Medicare Part A and Part B deductibles to rise along with your Part B premium . The only remaining question is , how much will these costs rise ?


Input: Does Homeowners Insurance Cover Air Conditioner?

Output: The air conditioner is a part of a residence . Damage to the air condition from one of the perils stated in the policy will be repaired by the insurance company . This does not apply to the air conditioner requiring repair from normal usage . There are policies available to cover home appliances .


Input: What Does CMFG Life Insurance Stand For?

Output: CMFG Life insurance goes under the marketing name , CUNA Mutual Group and CUNIS Insurance Society , Inc They sell a life insurance product called TruStage through the venue of credit unions . The initials CMFG do not apparently have any meaning , at least that was ever made known to the public .


Input: What Does CMFG Life Insurance Stand For?

Output: Believe it or not , CMFG does not have any actual meaning . CMFG life insurance company is the parent of all organizations that make up CUNA Mutual Group . It could be CUNA Mutual Financial Group , however you will not find this on their website . This insurance company is headquartered in Iowa .


Input: Why Doesn't Homeowners Insurance Cover Flooding?

Output: The most common type of homeowners policy is called , all-risk . Within the policy , however , there are significant exclusions , flood and earthquake being the most important . 25 % of the losses in the US are flood related . The flood risk is so great a federal program was established to assist writing this coverage . A broker or agent should be able to give you a quote . Prices vary greatly depending upon the risk . Some homes are more vulnerable than others .


Input: What Can I Do With Cash Value Of Life Insurance Policy?

Output: You can borrow from the cash value of life insurance to pay for your child 's college education , pay for their wedding , apply toward buying a business or other large purchase , etc. . Why pay a lender interest when you can borrow the money from yourself ? Or you can allow it to keep growing .


Input: Is Profit Sharing A Retirement Plan?

Output: A profit sharing plan is an employer qualified defined contribution plan based on the salary level of the participant -LRB- employee -RRB- . The contributions are tax deductible . The plan account accumulates tax deferred . The distributions are taxable as ordinary income . A profit sharing plan is under ERISA -LRB- The Employee Retirement Income Security Act of 1974 .


Input: Does Life Insurance Go To Estate Or Beneficiary?

Output: Life insurance is a contract . It is handled outside the estate unless the estate is the beneficiary or the beneficiary and all contingent beneficiaries are either not alive or elect to pass it to the estate . This means that the money is not subject to the scrutiny of a probate court and goes immediately to the beneficiary . This is one of the advantages of life insurance .


Input: Does Life Insurance Go To Estate Or Beneficiary?

Output: If the owner of the life insurance policy designates the estate as the beneficiary , the life insurance proceeds will go to the estate . If the owner of the policy designates a person or persons as beneficiary , the death benefit is paid directly to that person or persons . If the person who was named beneficiary passes away before the insured person , and no new beneficiary is named , the life insurance proceeds could go to the estate .


Input: What Are The Different Types Of Home Insurance?

Output: There are 3 policy forms for property insurance . Basic , Broad and Special . Basic will cover , Fire , Lightning , Windstorm or Hail , Explosion , Smoke , Vandalism , Aircraft or Vehicle Collision , Riot or Civil Commotion , Sinkhole Collapse , Volcanic Activity . Broad will cover all of Basic plus falling objects , weight of ice , sleet or snow , and accidental water damage . Special will cover everything that is not specifically excluded . If the policy does not exclude the coverage you are covered . Common exclusion are government action , nuclear hazard , war and military action , flood , fungus and pollution . Special Form gives you the broadest coverage 's . Now with special form you have a choice of an HO3 or an HO5 An HO3 is named perils for personal property and HO5 is open perils minus exclusion for personal property . While HO3 is the most common policy purchased the HO5 is the broadest coverage you can get in a homeowners policy .


Input: Who Sells Longevity Annuities?

Output: Longevity protection is a good definition for an immediate annuity . I have not heard that word longevity used as a description of an annuity . An annuity provides money that the annuitant can not outlive . At the same time it provides for the highest consumption . So you have high income and can not outlive your asset . That sounds like a longevity annuity to me . These are sold by licensed life insurance agents .


Input: Who Sells Longevity Annuities?

Output: Assuming you mean annuities with lifetime income you cant outlive , there are many . Most annuity insurance companies allow their annuities -LRB- and cash value life insurance -RRB- to be annuitized for the life of the annuitant -LRB- or insured -RRB- . If an annuity is held in a qualified plan , then all lifetime distributions are taxable at ordinary income tax rates . If the annuity is a non-qualified annuity then basis is amortized over the annuitants life expectancy as part of the initial payments until basis is used up . Then only payments of gain are left to distribute for the life of the annuitant .


Input: When Can I Enroll In Part B Medicare?

Output: You can enroll in Medicare Part B when you turn 65 , when you have a special enrollment period -LRB- e.g. you 're 65 or older and coming off of group coverage -RRB- , or during the general enrollment period -LRB- January 1-March 31 of each year -RRB- . You may also be eligible for Part B under age 65 if you 're on social security disability or have a specific medical condition -LRB- e.g. ESRD or ALS -RRB- and meet eligibility requirements . When enrolling under a special enrollment period , the effective date would be the 1st of the following month after you apply . The effective date of coverage when applying during the general enrollment period will be July 1 of the year you apply . Please note , if you do n't enroll in Part B when you 're first eligible and you do n't have a special enrollment period available to you , you may be subject to a late enrollment penalty -LRB- premium can go up 10 % for each full 12-month period that you could have enrolled in Part B , but did not -RRB- . When you enroll in Part B , you also activate your 6-month open enrollment period to purchase a Medigap plan to cover the gaps in original Medicare -LRB- Parts A & B -RRB- with NO MEDICAL UNDERWRITING ! This is the best time to buy one if you do n't want to create an extremely predictable healthcare expense structure . Please feel free to contact me for further assistance . Thanks very much .


Input: Does Medicare Part B Cover Ultrasounds?

Output: Medicare Part B covers a wide range of diagnostic tests . Regarding ultrasounds being covered under Part B , the ultrasound must be completed on an outpatient basis and be deemed medically necessary to help diagnose a medical problem by your physician . If they 're completed as an inpatient in a hospital , it would be covered by Part A. Part B will pay for 80 % of the expenses - you 're responsible for paying the other 20 % . A Medicare supplement plan would cover these expenses . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: What Does Medicare Supplement Plan F Cover?

Output: Medicare supplement plan F , also referred to as Medigap plan F , covers 100 % of all approved Medicare Part A and Part B expenses . Plan F pays for your Medicare deductibles , copay 's and coinsurance . After Medicare approves your claim it is passed on to your Medigap carrier for processing via rubber stamp .


Input: Is Universal Life Insurance The Same As Whole Life?

Output: Both Universal life -LRB- UL -RRB- and Whole Life -LRB- WL -RRB- are permanent life insurance policies . They are designed to provide coverage for a lifetime . The computations necessary to make a whole life insurance policy are complicated but it wasnt until the introduction of computers that companies could even think about providing a UL policy . The cash value of a WL policy is held by the company in the companys general funds . The cash value for a UL policy is held by the company in a separate fund -LRB- that might have different results because of investment policy . -RRB- So the first difference is that the UL does not have the guarantees of cash accumulation that the WL policy has , however , it might do even better . The second feature of a UL policy is that it is flexible . Premium deposits can be started , reduced , suspended , re-started or modified throughout the life of the policy . This flexibility can be a great asset or a tremendous liability . The liability comes when owners realize that they have not maintained adequate cash values and the rapidly increasing cost of mortality is going to destroy their cash values .


Input: Is Universal Life Insurance The Same As Whole Life?

Output: That is a great question ! Yes , universal life insurance is a type of whole life insurance , but at the same time , it 's really kind of not . The best way to explain it is that it is a whole life body welded to a term chassis . Just as term policies end after a certain amount of time , the average ul policy will too , if you 're not watchful . The average ul policy is only guaranteed for twenty years , and can end sooner , or last longer , depending upon it 's investment performance , and the amount of premiums that you pay into it . If properly funded and maintained , it can last your lifetime ; if you do n't watch for how well it 's funded , it can eat its cash value to stay active , and at some point lapse . Confusing ? Yup , this is n't a policy for people that are n't wanting to have to pay attention to it , possibly have to increase their premium payments , or who want the safety of not having to worry if they can lose the policy if they make the same payments over a length of time . I hope that helps , thanks for asking !


Input: Is Universal Life Insurance The Same As Whole Life?

Output: While both universal life and whole life insurance are permanent products and have a death benefit the similarities end there . Whole life insurance has a guarantee premium for the life of the contract and generally is credited by a dividend or return of unused premium . Universal life gas four policy types : current assumption universal life , guaranteed universal life , indexed universal life and variable universal life . With the exception of guaranteed universal life , the others have flexible premiums or death benefit that can be changed by the policy owner .


Input: How To Find Out What Medicare Coverage I Have?

Output: If you 're enrolled in Medicare , you should have a red , white , and blue Medicare ID card that will cite whether you have Medicare Part A and/or Medicare Part B -LRB- as well as the effective dates for those coverage -RRB- . If you 're not sure where the ID card is or if you have even enrolled in Medicare , you can always contact Medicare directly to find out the information . If you purchased a Medigap plan and/or a standalone Part D prescription drug plan -LRB- PDP -RRB- , a Medicare Advantage -LRB- MA -RRB- , or Medicare Advantage Prescription Drug plan -LRB- MAPD -RRB- , but are unsure what plan you have or need information regarding the plan 's benefits , you would need to contact the agent you purchased the plan -LRB- s -RRB- through or contact the carrier directly for the input . I hope the information is helpful - please feel free to contact me for further assistance . Thanks very much .


Input: How Does Group Life Insurance Work?

Output: Group Life Insurance is life insurance that is offered to employees by their employer . Their employer might purchase the policy for them , or they might be offered to purchase the policy at group rates , or some of both . The policy generally pays the death benefit to the employee 's family if the employee should pass away .


Input: Does Medigap Cover Dental Care?

Output: No . Medigap plans do not cover dental care . Some carriers may offer what 's called `` Value Added Services '' which , in short , is offering discounts on dental work - please note , it 's NOT dental insurance . If you 're looking to buy dental insurance , you would need to purchase an individual dental insurance policy . I hope the information is helpful - please feel free to contact me for assistance with your Medigap policy and dental insurance coverage and if you have any other questions . Thanks very much .


Input: Is Aromatherapy Covered By Health Insurance?

Output: Aromatherapy is not covered under most health insurance plans , as it is not considered to be a proven or traditional form of treatment . That said , you may find some alternative carrier providers , such as a chiropractor or mental health professional , that may include the cost of aromatherapy in the normal fees charged for an office visit .


Input: Is Aromatherapy Covered By Health Insurance?

Output: Aromatherapy is generally not covered by health insurance plans - it 's essential oils that are n't traditionally used by a doctor for medical treatments . There has n't been much clinical evidence to show strong efficacy against infections and other medical conditions , even though they may provide some therapeutic benefits . If it 's incorporated as part of an office visit with certain medical professionals , the plan may provide some coverage if it 's part of normal fees charged for the visit . Ultimately , you 'll want to consult with your agent/carrier regarding your specific plan to see what situations , if any , aromatherapy may be covered .


Input: Will Renters Insurance Cover Moving?

Output: No , under normal circumstances renters insurance will typically not provide any coverage for moving expenses . Renters insurance will typically provide personal liability , personal property , and loss of use coverage potentially less a policy deductible . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: When Does Long Term Disability Insurance Begin?

Output: Long term disability begins after satisfying the policy elimination period . Every policy is different . The elimination period describes the length of time you must be disabled and under the care of a physician , before benefit payments begin . You choose the elimination period at time of purchase . Short elimination periods have higher premiums , than longer elimination periods . Check your policy to determine what elimination period fit your budget .


Input: When Does Long Term Disability Insurance Begin?

Output: Disability insurance coverage begins at the issue date of the policy . After the policy is in force and a disability event occurs , the elimination period must be satisfied before benefits are paid . Its important to emergency funds at least equal to the elimination period . If the disability persists , then the benefits will pay as states in the policy provisions like 5 years or to age 65 .


Input: When Does Long Term Disability Insurance Begin?

Output: Long Term Disability Insurance will start paying the benefit to the disabled employee after the waiting period -LRB- elimination period -RRB- has been satisfied . The most common elimination period chosen for Long Term Disability Insurance is 3 months , but it can be shorter or longer . The shorter the elimination period , the lower the premium . The countdown for the waiting period usually starts on the day of the injury or illness , but if a minor illness has developed into a major one , the elimination period might not start to be satisfied until that progression has taken place . Each policy will spell out that criteria to review ahead of time .


Input: How To Plan For A Good Retirement?

Output: Financial planning , Retirement planning and Estate planning are all integrated . What you do with one often affects the other . The first step in planning for a Good Retirement is to start saving regularly as early as you can . The challenge often is that retirement seems so far away that it is easy to put off . Now that you have started saving , what are you saving for ? Deciding what a successful retirement means to you can be quite challenging . What do you want to do for the rest of your life ? A lifestyle planner can help . There is addtional information on this topic under retirement on my website www.jpw.ca if you are interested . Now that you have a basic idea of what your successful retirement means , the numbers can be `` crunched '' . Your retirement or financial planner can fine tune your retirement planning to make what you want to happen , happen . What particular investment vehicles you should use , depends on your individual situation . Be sure to take advantage of retirement plans that are tax deferred -LRB- in Canada , RRSPs and TFSAs -RRB- . Tax deferral allows you to get the full effect of compound growth . 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 Retirement Planner , you could start with a Google search . For example if you search for : retirement planner Halifax or retirement planning Halifax , my name along with several others will come up . You can use the same method to find Retirement Planners in your community .


Input: How To Plan For A Good Retirement?

Output: I have been watching a major pension plan closely and they now require almost 30 % of the pay of their employees in order to meet the promises of pension when they retire . Social Security composes a major portion of your program but you will probably need to augment that . Saving early and saving substantially are the keys . You must move money from current consumption to the future if you want money to consume then .


Input: Can You Do A 1035 Exchange From An Annuity To Life Insurance?

Output: No , you can not do a 1035 exchange from an annuity to life insurance . That would be considered a replacement , with tax consequences . Doing the reverse as a 1035 exchange is OK ; you can 1035 exchange a life insurance policy to an annuity issued by a life insurance company , with certain conditions .


Input: Will You Be Penalized For Not Having Health Insurance?

Output: Starting in 2014 , there will be a penalty for not having health insurance in force -LRB- unless you meet specific exceptions -RRB- . Although the penalty is not significant -LRB- less than $ 100 per person -RRB- , it will increase thereafter . Technically , it is considered a tax and you may be eligible for a federal tax subsidy that reduces the premium on the insurance you purchase . You can easily purchase affordable health insurance for an individual or a family . Request a free quote from a broker 's reputable website , compare plans and apply online . Hey ... that 's easy !


Input: Is There Any Reason To Buy Whole Life Insurance?

Output: Mortality in the United States stubbornly remains at 100 % . If you want to purchase a life insurance policy in anticipation of receiving a death benefit , then a permanent policy is your sole option . All other policies have a termination date . I am using the term permanent because it includes other policies that share these features with a whole life policy . Death is not the only opportunity for receiving benefits from a permanent life insurance policy . Throughout the existence of the policy you have access to the cash value of the policy . You can either withdraw money or take a policy loan . A policy loan does not require an application and can be taken in total privacy . These loans have assisted business owners through stressful period of time , by providing capital to keep the business afloat . Business owners often use permanent life insurance to make sure that funds are available for surviving partners to purchase the interest of a deceased partner in a business . They also use permanent life insurance in compensation packages . Some people use their permanent life insurance policy in their estate plan to pay taxes and to make sure heirs receive equal treatment . It is an excellent way to give a gift to a university or religious organization . The systematic nature of deposits in a permanent life insurance policy has enabled some people to develop significant wealth . It certainly can form the stable component of an overall financial strategy . The return in a permanent life insurance policy is competitive with other high-quality , fixed return assets and can provide tax free distributions as well as income tax free death benefits . Financial planning is about shifting assets . The most important shift is from current consumption to future consumption . You can make a choice between a low-fat caramel macchiato and money in your future . While certain coffee franchise would take offense that is really be beginning of the process . How much are you willing to invest in your future ? Because of its semi-compulsory nature , a permanent life insurance policy is a great place to start . I havent met anyone yet who honestly told me that they have too much permanent life insurance . Usually they are lamenting the escalating cost of their term life insurance . Today a significant amount of life insurance is purchased by people over age 60 . Can you imagine how they would have preferred to have made that purchase thirty years ago for the cost of a stop at the coffee shop ? Whole life insurance is the fully guaranteed permanent life insurance product . It is the basic policy from which all other forms of life insurance have been developed . Some will hold that whole life insurance is too expensive . However , if you are looking for a lifetime of coverage you will find it is very inexpensive unless you are wildly successful investor . If you look at the sum of premiums alone you will find that by life expectancy that term life insurance will have cost a significantly greater amount of money than the whole life .


Input: Is There Any Reason To Buy Whole Life Insurance?

Output: There are many reasons to purchase a whole life policy . The first reason is the first intended purpose of a whole life policy is if you feel you want to leave money to loved ones at any age then whole life is for you . It is a life insurance policy designed to last your entire or whole life . Also , whole life is the Swiss Army knife of life insurance policies . It 's funds can be used for retirement , children 's college , critical illness and much more .


Input: Is There Any Reason To Buy Whole Life Insurance?

Output: People buy whole life for a variety of reasons . Just a few of the reasons to buy whole life are : 1 -RRB- You want to be sure that your policy is in effect at the time of your death , even if you live to a ripe old age ; 2 -RRB- you want a life insurance policy that will have cash value that you can borrow from ; and/or 3 -RRB- you want to pay off your policy in a set number of years .


Input: Can I Be On My Parents Car Insurance?

Output: Yes , if your parents have you listed as a `` Rated Driver . '' I need to qualify the above answer by saying this : some carriers look at all household members and will sometimes deny insurance based upon one potential driver . A regional carrier that I deal with will refuse to insure an entire household if one of the household members is an uninsurable interest . What this means is if a child/spouse/insured has a bad driving record they will not provide insurance . How it works with most companies is that household members can be non-rated drivers , which means they have to get their own insurance through another policy . Another thing to consider is whether you live in the house . If you do not , but are under the age of 25 , your parents can get an endorsement for `` Child Away At School '' to get you coverage . However , if you are not in school and/or over the age of 25 then you can not be on your parents ' insurance . I hope this helps .


Input: How Does A 401K Work If You Quit?

Output: The 401 -LRB- k -RRB- is governed by a document drawn for the employer . Most plans offer a variety of distributions when you terminate , but they are not required to do so . Exercising these options can be quite important . Generally you would want to maintain the character of the funds . If they are tax deferred funds you would want them rolled into a standard IRA . If your income tax is going to be low you can consider rolling it into a Roth IRA and pay the tax for the withdrawal as though it were ordinary income , which is often an alternative .


Input: How Does A 401K Work If You Quit?

Output: That is a great question ! Once you have started a retirement plan , it remains yours , whether you are with the company or not . They will no longer make contributions to it , and now you wo n't either , so it will sit there in limbo , and grow slowly . Contact your HR person , or plan administrator if you do not know which financial institution is managing the fund , so you can figure out what you want to do . You may be able to roll it into your new employer 's 401k plan , if they offer one . You may be able to roll it into a Roth IRA plan that you establish . If you consider taking the cash from it , be aware that it will be heavily taxed , and you will pay a penalty for removing the cash - plan on giving away at least a third of it , okay ? I hope that helps , contact me with questions if you have them , and thanks for asking !


Input: What Is The Principal Of Life Insurance?

Output: In regard to applying for a life insurance policy , the principal of life insurance is the applicant for life insurance , or the subject of life insurance . In regard to Return of Premium life insurance , the word principal can refer to the amount that is returned at the end of the term .


Input: What Are The Requirements To Qualify For Medicare?

Output: Generally , you are eligible for Medicare if you or your spouse worked for at least 10 years in Medicare-covered employment and you are 65 years or older and a citizen or permanent resident of the United States . If you arent yet 65 , you might also qualify for coverage if you have a disability or with End-Stage Renal disease -LRB- permanent kidney failure requiring dialysis or transplant -RRB- . Here are some simple guidelines . You can get Part A at age 65 without having to pay premiums if : You already get retirement benefits from Social Security or the Railroad Retirement Board . You are eligible to get Social Security or Railroad benefits but have n't yet filed for them . You or your spouse had Medicare-covered government employment . If you are under 65 , you can get Part A without having to pay premiums if you have : Received Social Security or Railroad Retirement Board disability benefits for 24 months . End-Stage Renal Disease and meet certain requirements . While you do not have to pay a premium for Part A if you meet one of these conditions , you must pay for Part B if you want it . The Part B monthly premium in 2013 is $ 104.90 per month . It is deducted from your Social Security , Railroad Retirement , or Civil Service Retirement check . If you dont get any of the above payments , Medicare sends you a bill for your Part B premium every 3 months . Note : You will be eligible for Medicare when you turn 65 even if you are not eligible for Social Security retirement benefits .


Input: What Are The Requirements To Qualify For Medicare?

Output: For the most part , you qualify for Medicare either by turning 65 orby being eligible via social security disability . If you worked during your career and contributed to social security/medicare a minimum of 10 years -LRB- or 40 quarters -RRB- , you automatically qualify for Medicare when you turn 65 . Part A -LRB- hospitalization -RRB- is free and Part B -LRB- doctors -RRB- costs $ 104.90 . If you have insurance through your employer or through your spouses employment , you can opt out of Part B without penalty .


Input: Is HSBC Life Insurance Any Good?

Output: In reading TopTenReviews , they found HSBC Term life insurance to be very good due to the riders offered and auxiliary financial services . HSBC used to offer `` instant '' No Exam coverage on the internet , but stopped offering that in January , 2012 . They also only carry Term Life under the HSBC name .


Input: What Is Term Life And Whole Life Insurance?

Output: An insurance company computes a rate for one year of coverage for every age . Term insurance provides coverage for a specific range of years . The premium is roughly equivalent to the average of the yearly premiums that I mentioned . A whole life policy is different in that it takes every remaining age and provides coverage for every remaining year . The premium is higher than a shorter term policy but the death benefit will be paid unless the policy is surrendered or lapses .


Input: What Is Term Life And Whole Life Insurance?

Output: Term life insurance is life insurance that is active only for a set period of time . Typically term life insurance will be active for 10 , 20 , or 30 years . Term life insurance policies typically do not accumulate a cash value . Whole life insurance is permanent insurance . It typically will not expire as long as premium payments are made as required . A whole life policy also will normally accumulate cash value over it 's existence which could be borrowed from or will in most cases raise the death benefit .


Input: When Should I Buy Annuities?

Output: Like all product considerations , non-qualified tax deferred annuities need to fit the individual saver or investor product suitability profile . Long term savers or investors that have high tax brackets should consider non-qualified tax deferred annuities . There are basically three crediting methods used in deferred annuities : interest rate crediting , indice crediting and separate sub account crediting . Interest rates are generated by the companys predominately government bond portfolio . Most indexed annuities invest their interest rate returns in domestic and foreign index options . Some indexed annuities that credit zero in a given year , still charge policy expenses and which could result in a loss . Variable annuities use equity and bond instruments in their separate sub accounts selected by the variable annuity owner . These separate sub account allocations are subject to market risk , i.e. you can lose money .


Input: When Should I Buy Annuities?

Output: That is a great question ! Many annuity companies will ask that you be 50 or over , to sell you an annuity . Most importantly , you will need to be in a `` suitable '' financial state to do so . The insurance industry realizes that once you 've invested into an annuity , you ca n't touch the money for several years without incurring large fees . So you have to be in a place where you can put the money aside , and not endanger the liquidity or cash availability for yourself . If it would , the annuity is considered `` unsuitable '' and to protect you , the sale would be denied . If you would like more information , please contact me , ok ? Thanks for asking !


Input: Can A Car Be Parked On The Road With No Insurance?

Output: In California you can not register an automobile without insurance . If your insurance expires or is cancelled the company notifies the Department of Motor Vehicles . If law enforcement checks with the DMV they will know that the vehicle is violating the law and they have certain actions that they can take including citation and even impounding the vehicle .


Input: Can Companies Take Out Life Insurance On Their Employees?

Output: Some companies will take out life insurance on their key employee -LRB- s -RRB- so that the business would have the resources to keep operating while trying to replace that employee -LRB- s -RRB- , in the event of their passing . This is called Key Man or Key Person Insurance . Corporate Owned Life Insurance -LRB- COLI , for short -RRB- became popular during the 1980 's as a way to cover the entire pool of employees due to the tax shelter status given these policies by the IRS . Subsequent reforms give COLI tax favorability only if such coverage is purchased on top wage earners and if they are notified of the policy in advance , and further restrictions are in the pike . As such , life insurance policies that cover all employees in the business are much less common .


Input: Is Botox Covered By Medicaid?

Output: Medicaid is a state administered program . Each state has a different list of drugs that are covered . The state publishes a list of covered drugs which you can access on their website . Your physician might have the latitude to use Botox whether it appears on the list or not depending upon your unique medical condition . Your physician will certainly know what procedures and medications are covered .


Input: Is Botox Covered By Medicaid?

Output: Since I can not tell the age of the person that asked this question , I am just going to add this to the conversation in hopes that it will help the person that asked the question or possibly somebody else . If you are on , or eligible for , medicare , Botox is covered by medicare for medically necessary procedures .


Input: Is Botox Covered By Medicaid?

Output: You will need to contact the Medicaid office to get a definitive answer since Medicaid is a government program and not provided by a private insurance company . I would assume that it would not be covered if being used for cosmetic purposes . Perhaps there may be consideration if used for a medically necessary purpose , but , again , you will need to contact the Medicaid office to be sure and what conditions would need to be met , if any , to have it covered . I hope the information is helpful - thanks very much for your question .


Input: Is Botox Covered By Medicaid?

Output: Medicaid is adminstered by the states to medications that are covered vary from state to state . Doctors who accept Medicaid know what medications that Medicaid covers . Botox is covered by Medicaid in many states to treat medical conditions , such as , migraines . Botox is not covered for cosmetic reasons by any state Medicaid programs .


Input: How Long Does Renters Insurance Last?

Output: Like many other residential property policies these dayssuch as Homeowners or Condominium Unit Owners ' , Renters Insurance policies are generally issued on an annual basis . Policies like this are commonly referred to as `` continuous renewal '' contracts meaning that so long as premiums are paid and the insured continues to meet a company 's underwriting standards and guidelines , the policy will be continuously offered to the insured at each annual renewal date .


Input: How Long Does Renters Insurance Last?

Output: Renters Insurance in the US is an outgrowth of the regular Homeowners Insurance policies that have been in use in many states since the mid 20th Century . In fact for many companies the forms in use continue to be variations -LRB- with appropriate state approvals -RRB- of forms developed by the Insurance Service Office , ISO . The Insurance Service Office is not alone in developing contractual homeowners and subsequently renters policy forms in use in the various states . There are other product development groups and larger companies often develop their own product offerings . With all that said , there are some common elements to homeowner and renters policy and by far the use of annual -LRB- 12 month terms predominates -RRB- . Decades ago there were companies using forms that lasted as much as three years for homeowners , but the reality of getting appropriate approvals from the regulators , responding to loss results and getting mortgage companies to accept the policies has all led to a fairly standardized approach in the US that homeowners and renters policies are primarily annual contracts . But do n't throw away all your old policies when you get to the end of a year if you are all aware of an event that might give rise to coverage during that time period . For example suppose during the term of your renters policy your dog bit a neighbor . That occurrence then would be associated with the payment of loss for the infliction of bodily injury even though the damage is only assessed completely for years to come . Her is why I mention dog bites . In many states you have absolute liability for your dog 's aggression . And , dogs who maul a victim are often attacking children -LRB- easier prey to the dog -RRB- and the damages are usually to the child 's head . Therefore as they age there can be a need for repeated surgeries to address the scaring . Since the renters policy is typically an occurrence policy , the policy which will respond is not the current insurer several years out , but the insurer at the time of the event or '' occurrence ''


Input: Does Homeowners Insurance Cover Theft On Vacation?

Output: Unless your policy has a theft exclusion your personal items that are stolen while on vacation would be covered . Certain items may have coverage limits but the same would be true if you were at home . Of course any claim paid out would be minus the deductible on your policy .


Input: Does Homeowners Insurance Cover Theft On Vacation?

Output: Yes it does . Be sure to discuss your policy coverage with your Insurance Professional before your trip , but in most cases , your personal property will be coveredwhile you are enjoying your vacation . The amount of total coverage may vary but in general , it is 10 % of the stated Personal Property amount listed in your current policy contract . Any loss would be subject to your deductible , of course , and your advisor may point out that certain classes of property like cameras , jewelry etc may have limitations . Insuring your higher value items specifically either as a rider or on a separate policy can eliminate any coverage limitations and actually provide more comprehensive coverage so it would be a good idea to include that in your discussion with your insurance professional as well .


Input: When Can You Enroll In A Medigap Plan?

Output: You can enroll in a Medigap plan at any time . Most will purchase a Medigap plan when they first turn 65 and enroll in Medicare Part A and Part B . If you enroll when you are initially eligible you will not have to answer medical questions . If you had prior creditable coverage your pre-existing conditions will be covered .


Input: What To Ask When Buying Health Insurance?

Output: There a many questions a consumer should ask when considering their health insurance choices . Some questions will be unique to an individual 's current or anticipated healthcare needs and are difficult to address in this forum . However , in the era of ObamaCare , here are some general questions I think any health insurance buyer should be asking when looking at different health insurance carriers and different health insurance plans . 1 -RRB- Would I qualify for a meaningful subsidy of my health insurance premiums if I purchase health insurance through a Federal or State health insurance marketplace ? 2 -RRB- What is the deductible and out-of-pocket maximum financial exposure I would have under a given policy ? 3 -RRB- Does the policy have copayments for visits to doctors , prescription drugs , urgent care and emergency room visits or are all or some of these commonly used services subject to the policy 's deductible and co-insurance ? 4 -RRB- Are the doctors and hospitals I want to use in-network providers for the health insurance plan I am considering ? 5 -RRB- Are the prescription drugs I am taking covered under the formulary for the health insurance plan I am considering and , if so , what is the level of coverage and will I be subject to step therapy to gain access to a prescription drug I am already using successfully ? 6 -RRB- What coverage , if any , will I have if I choose to go outside of my health plan 's provider network ? 7 -RRB- Are there any geographic service area restrictions to where my coverage applies ? 8 -RRB- Am I required to get a referral froma primary care physician before I can access care from a specialist or receive impatient or outpatient diagnostic services and treatment ? 9 -RRB- How financially stable is the health insurance carrier I am considering ? This is especially important if you are considering enrollment in one of the new Co-Op health plans created under ObamaCare . Obtaining answers to these questions that are satisfactory to you will go a long ways towards assuring that you get the kind of coverage that best suits your needs . Seeking out the guidance of an experienced independent health insurance broker is generally these best way for people to get the answers to these and other questions they might have . Representatives of specific insurance companies can only explain their company 's products to you and , of course , they will think that their company 's plans are the best . The so called , navigators available to help people purchase coverage through the government marketplaces are rarely licensed insurance professionals , have little depth of knowledge in the industry and are generally reading from a script or are providing you generic answers that they have been provided with .


Input: Does Home Insurance Cover Electronics?

Output: Depending on the policy , home insurance can cover electronics as long as it was damaged by one of the covered perils . However , in today 's market it is rare to have a deductible under a thousand dollars and you can usually replace most electronic devices for less than that . I personally would not file a claim for electronics unless the loss was so substantial that it would make sense . Insurance is there for you to use when you need it . However , claims to have an adverse effect on your premium as well as your insurability . So if possible I would handle it out of pocket before turning to insurance .


Input: Does Home Insurance Cover Electronics?

Output: depending on the policy form used , the electronics maybe covered in a home owners policy . In the HO-3 policy form the electronics are covered under the person property coverage section . It can be on an actual cash value basis or replacement cost . There is a separate coverage for electronics away from the premise , like computers , laptops , tablets and cellphones .


Input: Which Is The Best Home Insurance Provider?

Output: It 's going to depend on what 's important to you . Price , customer service , claims handling , the coverages you are seeking , your individual broker or agent are all factors to consider when shopping for home owners insurance . Talk to a broker and he or she will be able to guide you to the best company for you .


Input: Does Medicare Cover Levemir Flexpen?

Output: Medicare is concerned about diabetes type II and includes coverage for many diabetes testing equipment and supplies . Your doctor must prescribe your diabetic supplies . Some of the Medicare Part B covered items include testing strips , glucose meters , lancets and insulin but ONLY IF it is used in a pump . Levemir flexpen 's are part of Medicare Part D . If your drug plan includes the flexpen under the formulary some of the cost may be reimbursed .


Input: Does Medicare Cover Levemir Flexpen?

Output: Levemir Flexpen is covered under the Medcare part D drug benefit . If you have a stand alone Rx or a MAPD it would be covered as long as it is in the formulary of the plan . There are a number of carriers that do include it in the formulary although it will always be a tier 3 or higher and is going to push someone toward the coverage gap much quicker .


Input: Does USAA Auto Insurance Cover Windshield Replacement?

Output: Yes , USAA does offer windshield replacement coverage . In fact , you can buy what they call `` Full Glass '' coverage , which will pay to repair or replace the windshield , windows , moonroof , sunroof , and even the T-top of your vehicle without a deductible if they are damaged . The cost is only a few dollars per month .


Input: Should Renters Have Insurance?

Output: By far one of the most cost effective coverage options available is Renters Insurance . A policy for Renters Insurance not only covers the personal property of the insured for loss , damage or theft anywhere in the world , but also provides a level of Personal Liability insurance to protect the insured should they be sued for causing damage or injury to another person or their property - again , anywhere in the world this may have occurred . Typically , these policies provide for $ 100,000 in Personal Liability coverage , and can be increased for those who may want more coverage as well . Why would you want Personal Liability insurance ? I can tell you a hundred stories of renters who did n't have this coverage and were sued for something that happened , completely out of their control , and had to have their wages garnished to pay off the law suit .


Input: What Does Disability Insurance Cover?

Output: Disability Insurance covers most things that would cause someone to not be able to perform the duties of their job . This can be anything from a broken bone to having a baby , when talking about Short Term Disability , or from having cancer to going blind , when talking about Long Term Disability . Each policy has its own criteria so you should be familiar with the terms of the policy you are purchasing . Some causes of disability that are excluded for most policies are acts of war , commission of a crime , driving while intoxicated , and suicide attempt .


Input: What Does Disability Insurance Cover?

Output: Long term disability insurance covers health conditions that cause the insured person to be unable to work for an extended period of time . The most common cause of collecting on disability benefits in 2010 was musculoskeletal and connective tissue disorders -LRB- neck , back , ankle , foot , joint , muscle , and/or tendon disorders -RRB- . Cancer was 2nd . Injuries and accidents came in at # 3 , cardiovascular/circulatory disease was # 4 , and mental disorders were the 5th most common reason for collection of long term disability benefits in 2010 .


Input: What Does Disability Insurance Cover?

Output: Disability insurance is designed to replace a portion of your income during the time you are unable to work because of a covered accident or illness . Each policy has different exclusions for which medical conditions are covered . Many policies will not cover on-the-job accidents as this is addressed by workers compensation . Preexisting medical conditions may not be covered if the disability begins within the first twelve months of the policy effective date . Elective medical procedures may also be excluded . Mental illnesses are excluded by most policies but not all . Check your policy language for specifics .


Input: Does Medicare Or Humana Cover A Lift Chair For My 94 Year Old Father?

Output: The Medicare Advantage plan with Humana will cover durable medical equipment -LRB- DME -RRB- at 80 % just like Original Medicare will cover it . The trick is in the details as Steve Adlman commented about previously . The biggest problem I see clients have is they try to get the medical equipment from a supplies that does not participate with Original Medicare or are not participating with the Medicare Advantage Plan the client has . -LRB- If they have an Advantage plan instead of Original Medicare -RRB- Obtaining Medical necessity takes time but is usually approved as the physicians know the criteria needed to get approval .


Input: Does Medicare Or Humana Cover A Lift Chair For My 94 Year Old Father?

Output: If your father has a Humana Medicare Advantage Plan I feel confident in telling you the answer to your question is No . If your father has a Medicare Supplement policy he may get Medicare under Part B to pay some on his chair . Certainly not the whole cost of the chair . Medicare will only cover the seat lift mechanism not the chair itself . In order for Medicare to pay for the seat lift mechanism the doctor prescribing the chair must justify to Medicare that the lift chair is medically necessary . That is easier said than done with Medicare .


Input: Where Can I Purchase Affordable Health Insurance?

Output: The word `` affordable '' is really a perception . Up until the massive rate increases occurred due to Obamacare I felt that most health policies were affordable . We have to remember that each of us only have so much money to spend and we have to prioritize our bills and all insurances are necessary for protection but only auto and home insurance are mandatory but we find a way to pay for it . The good news is that health insurance coverage is flexible with deductibles and co-insurance but I always recommend the HSA qualified plan has a slightly higher deductible with no coinsurance and with this you can save 30 % or more in premium and have the option to open a health savings account with any bank and the money deposited into that account is tax deductible and tax free when used to pay any medical expenses . The bottom line is that you need to take responsibility for the everyday medical problems such as doctor visits and pharmacy and be covered for the catastrophic things that may occur . Feel free to call me anytime to answer any of your questions or for quotes . The Hinch Financial Group , Ronald G Hinch 843-450-9879 .


Input: Can Home Insurance Be Paid Monthly?

Output: Of course ! Several billing options exist for all lines of insurance , including homeowners . With homeowners you also have the option to escrow your payments with your bank -LRB- assuming you have a home loan -RRB- . Your monthly mortgage payment would include the payment for your insurance . Typically the best option to lower your premium is electronic funds transfer from your checking account . Your insurance payment is automatically processed on a certain day each month . Most companies provide a discount for automatic , electronic payments .


Input: Can Home Insurance Be Paid Monthly?

Output: No problem making monthly payments in most cases . There are some circumstances where monthly is not available but this is rare . Also if you are set up with an impound account your lender will just ad the payment on a monthly bases in to your existing home loan if you desire .


Input: Does Homeowners Insurance Go Up Every Year?

Output: The cost of Home Insurance is based on the losses in your area . Extreme weather works in cycles , so a specific area will have several years of very severe storm losses , causing rates to go up . When that cycle ends the losses go down and so do the rates . Of course construction costs tend to trend up , as do the values of everything else , and insurance rates have to adjust to compensate , but without rate increases , insurance companies would not be able to afford to stay in business through the bad years . A great example of this is the state of Florida . After Hurricane Andrew , insurance companies were hit very hard . When they tried to raise rates the state passed legislation limiting rate increases . So , backed into a corner , many insurance companies went broke or pulled out of Florida . Consequently , the largest insurer in Florida is now the state of Florida -LRB- the taxpayers are on the hook for claims if another significant storm hits -RRB- . After several years of no severe storms , that trend is reversing with several insurance companies coming back into the state and the # of policies the state holds is decreasing .


Input: Does Homeowners Insurance Go Up Every Year?

Output: -- > Normal 0 Im sure your insurance company would say yes to that question and I would say most homeowners will find their premium does increase each year . Usually there are two reasons . Insurers increase their rates and insurers tend to increase the amount of insurance on your home by inflationary factors tied to increased construction costs in your area . But that doesnt mean your premium has to increase every year , it means it may be time to take a closer look at your policy and premium . If you want your policy to pay to rebuild your home if it is destroyed and the cost to rebuild your home has increased , increasing the amount of insurance may be appropriate . But increasing the amount of insurance does not necessarily mean your premium must increase . You may be entitled to additional credits for not filing any claims , structural updates or improvements or added security . Maybe your credit score has improved and you are eligible for more favorable rating treatment . You may even want to check with other insurers to see if they offer more favorable terms . But bottom line , there is no reason your homeowners insurance premium should go up each year . You just have to take a look at it , find out why and see what your alternatives are .


Input: Does Homeowners Insurance Go Up Every Year?

Output: As Frank indicated , homeowner insurance premiums should not necessarily increase each year . To make sure your coverage stays current , you should look at the replacement cost necessary to rebuild the home on a regular basis . This number may well increase for a number of reasons , which can increase your insurance premium . At the same time , you can often offset potential premium increases by making your property profile more attractive to insurance companies , such as security and other system upgrades . If your premiums are increasing , then your agent or broker should explain why . Otherwise , this could be a sign that you need to consider other insurance partners who will take a more active role in making sure you have the best policy and premium for your situation .


Input: Can I Take A Loan From My Retirement Plan?

Output: It depends on the type of plan and whether its qualified or non-qualified plan . Most qualified plans have plan provisions for participants to borrow money at a stated interest rate . Once you borrow , most plans will require you to pay off the loan before any transfers to another qualified plan . Non-qualified retirement plans that use cash value life insurance can access accumulations at a low interest rate . Keep in mind that if the policy is surrendered or lapses , the loans in excess of the original basis will be taxable . At ordinary income tax rates .


Input: Will Homeowners Insurance Cover Burglary?

Output: Most homeowners insurance polices are written on a special form that covers burglary . Even if your front door was left unlocked or a window open a robber is still a robbery and you would have coverage minus your deductible . Make sure you obtain a police report and make a list of all items stolen . Any receipts or pictures are very helpful in a claims process .


Input: Will Homeowners Insurance Cover Burglary?

Output: Great question ! In most cases yes , provided you were not negligent . -LRB- Left the home unlocked might be taken for negligence in some cases , for example -RRB- . It is always a good idea to take pictures of your things , and record their serial and model numbers so that you have accurate information to give to the insurance company along with the police report when you file your claim . If you would like more information , please contact me . Thanks for asking !


Input: What Is Needed For Homeowners Insurance?

Output: Initially , you will need to obtain a quotation for homeowners insurance . In order to obtain a quote , you will need to provide some personal information as well as the characteristics of the home in order for the carrier to calculate the reconstruction cost of the home . Items that may make a favorable difference in rate may be any professional designations that you may have , any security features such as an Earthquake Gas Shutoff Valve , Home Security Alarm System , Fire Sprinklers etc. . . Finally , you should review the coverage and make sure that you feel that the policy will sufficiently offer you the protection you expect in the event of a loss ; if you wish to lower the premium generated , we suggest increasing the deductible -LRB- thereby taking a small portion of risk upon yourself -RRB- in order to reduce the premium . It is always better to be properly covered and be a little out of pocket than the reverse . For further information , you may click on : WEBSITELINK


Input: What Is Needed For Homeowners Insurance?

Output: Your first step should be finding out how much the insurance would cost based off of the replacement cost value of the home which is not the same as an appraisal many carriers will use replacement cost not actual cash valu for the home the rate is not much different but in the event of a loss it is well worth the difference


Input: Does ERISA Apply To Life Insurance?

Output: For the most part no , ERISA -LRB- the Employee Retirement Income Security Act -RRB- is legislation that seeks to prevent tax deductible group retirement plans from too heavily favoring certain employees over other employees -LRB- based mainly on an employees level of compensation at a company -RRB- . It may be effected by pension plans that own life insurance on the participants , but this would be a somewhat unique circumstance given current retirement paradigms .


Input: How Much Do Americans Pay For Car Insurance?

Output: To find the total amount add the gross auto premiums from all the carriers . If you want to know an average amount , you could divide that sum by the number of units insured . If you want a ball park figure of what to expect to pay you will find that the amount varies by location , vehicles insured , driving record and several other items depending upon the state . If you are trying to get the best deal , you might well accept lower limits only to discover that the policy is inadequate when a claim comes . In that case you will find that you paid too little , and it costs a great deal more .


Input: Who Can Sell Annuities?

Output: Life insurance agents sell annuities because annuities are contracts with life insurance companies . If the annuities are not variable , any licensed life insurance agent can sell them . If buying a variable annuity , or if using qualified funds in the transaction , you must use a life insurance agent with the proper securities licenses .


Input: What Percentage Of Home Value Is Insurance?

Output: There are fire policies available that allow you to purchase coverage that is lower than 100 % of the replacement value . They are not very common . They have a provision that applies a co-insurance clause which states that if you insure your house to 50 % of the value of the house and have a claim the company will apply that same percentage to adjust the claim . Your $ 40,000 repair bill will be paid at approximately $ 20,000 .


Input: What Percentage Of Home Value Is Insurance?

Output: Frankly , I am a little unsure of the question . I believe you are asking what percentage of your home 's value needs to be insured ? The answer is 100 % of the reconstruction value of your home should be the stated dwelling amount . Properly establishing the reconstruction value and insuring to that amount is the job of your Insurance Professional so be sure to discuss the particular details of your home carefully .


Input: What Percentage Of Home Value Is Insurance?

Output: Great question ! Taken literally , the answer to your question is none . The fact that your home is insured does not add to your homes value at all . The new buyer will need to reinsure it , so there is no additional value added . If you are asking what amount you should insure your home for , that 's a great question also ! You want to insure your home not for its resale value , but for what it would cost you to rebuild it . Keep safe somewhere details of the footage , details , extra 's , etc. that will help you determine that value . You can also get an idea from your zip code , and most companies will have a calculator to determine that average cost . Then you want to add to that the value of your belongings . You will want to have serial and model numbers , pictures of unusual or special items , and that list kept safely somewhere also . There are some really helpful software programs that can help you with that . The total of those numbers is the amount that you want to have coverage for . If you need help , please feel free to contact me , I 'm happy to help . Thanks for asking !


Input: What To Look For When Purchasing Life Insurance?

Output: When purchasing life insurance , you should make sure you are working with a reputable company and a reputable agent . If you get good advice from the start , everything else will fall into place . Look at guarantees and compare `` apples to apples '' when comparing policy prices . Look at the options , such as riders and convertibility . Look for rates that you can lock in and forget about having to worry about life insurance again for a long time !


Input: What To Look For When Purchasing Life Insurance?

Output: When you are purchasing life insurance , the most important thing to look for is a reliable quote . What is reliable ? It is a rate about which your broker is confident you will be approved . Sounds pretty basic , doesnt it ? And after all , that should be your expectation when you buy anything , shouldnt it ? When you buy a house , a refrigerator , a car , a business , or even a pack of bubblegum , the amount you pay should be the amount that was advertised . The thing is with life insurance , you must be underwritten in order to come up with a real number . And underwriting can be very thorough and comprehensive . It involves current health , medical history , lifestyle , and many other factors . But if you must be underwritten before you know what the price will really be , how reliable can your quote be ? Good question . This means that your broker must pre-underwrite you . Before you submit an application , he or she must obtain all the necessary quote information . If need be , your medical file and other records must be reviewed . This data must be discussed with underwriters who typically are interested in the risk you represent . This all happens , of course , with your authorization . Once this research is completed , you should be provided with quote that represent commitments from underwriters . Not ironclad commitments , mind you you still have to go through formal underwriting . But they should be rates about which all are confident that , barring contradictory information arising in underwriting , you will be approved . Then you will know that it will be worthwhile submitting a formal application .


Input: What To Look For When Purchasing Life Insurance?

Output: When buying life insurance it may make sense to check the insurance company financial rating . You want to be sure that the company will be around forty years from now to pay claims if needed . You can go on `` standards and poor '' and AM Best to be sure that company has A + financial rating .


Input: When Is Disability Insurance Needed?

Output: Assuming the question at what age or circumstance is disability insurance needed , most advisers recommend the day you start working full time . Most American workers have 90 days in cash reserves to pay household expenditures . The average long term disability is around 30 months and the odds of a disability event during your working years is significant . And while Social security disability is available , its benefits may not be enough , so purchasing individual disability insurance is necessary and part of your defensive financial plan .


Input: Why Buy Short Term Disability Insurance?

Output: Because buying short term disability coverage it is better than no coverage at all . Social Security disability insurance can help , but its more than likely inadequate . And workers comp pays only on disabilities that occur on the job . But before you purchase short term disability insurance , find out if your employer group benefit plan offers it . If your employer doesnt offer it , start shopping for short term disability , to give you some paycheck protection .


Input: If I Rent A Car Does My Insurance Cover It?

Output: Typically your personal auto insurance will only provide liability coveragewhen you are driving another vehicle other than the vehicle that you have covered under the policy . Your personal auto policy will not provide any coverage for physical damage to the rented vehicle or any coverage for any loss of income or other expenses that the rental car company may incur .


Input: Can I Get Life Insurance On My Grandmother?

Output: If you are buying life insurance for your grandmother to cover her funeral , grave site , burial , cremation , memorial service , cost of flying guests in for the funeral , etc. . Yes , for reasons of final expense , you can get life insurance on your grandmother . If you are living with her and would be financially devastated if she were to pass , you can buy a policy on your grandmother . These are examples of when you CAN get life insurance on your grandmother . When you CAN NOT get life insurance on your grandmother is if you have no financial ties to her but would purchase the policy as a way of making money .


Input: Can You Cancel Renters Insurance Any Time?

Output: You can cancel a renters policy at any time . Simply contact the company directly or the broker that sold you the policy and request a cancellation . You will typically be charged with the coverage you used and receive a credit based on the portion of the coverage you paid for and did not use .


Input: What Is Variable Life Insurance And How Does It Work?

Output: Variable universal life insurance is a security . Those who sell it must be registered representatives of a broker dealer . Variable universal life insurance uses a guaranteed account or the separate sub accounts that offer market access to equities and bond investment instruments . Because of this market access , the cash value account could lose money , so a risk tolerance profile needs to be established to determine product suitability for the investor . When variable universal life premiums are paid , the policy expense loads are generally deducted and the earnings or losses are credited or debited from the premium and/or cash value accumulation account .


Input: What Is Variable Life Insurance And How Does It Work?

Output: Variable life works very much like Universal life in concept , except that the accumulation account allows for different investment choices than just a fixed account . A variable life policy will offer different investment choices within the policy . Usually mutual funds are the type of investments used within the accumulation account . The insured selects from the choices offered by the policy . Usually there is something for just about every risk profile . The insured selects for example 3 funds to have the excess premium -LRB- beyond the current monthly charge for insurance and fees -RRB- deposited into . Over time these will gain and they will lose as any investment does . The idea is the same as any investment , to make money over time . A variable life is very much a hands on product . It should be reviewed and possibly rebalanced on a regular basis . Variable life policies are not ' `` fire and forget '' plans .


Input: Does Private Health Insurance Cover MRI Scans?

Output: If you are referring to private individual or group health insurance major medical plans then the answer is yes . Now , the access to MRI scans will vary with the differenttypes of health insurance plans are person could be enrolled in . Under some policies it 's a very straight forward process that once your doctor orders one you go get it and it 's paid for under whatever deductible , copay and/or co-insurance provisions apply to such services under your health insurance contract . In other health plan environments there may be a pre-certification/pre-approval requirement before the insurance company will cover an MRI -LRB- I 'm assuming this is n't an emergency need -RRB- . If you are covered under such a contract it is important that you and/or your physician obtain the required pre-authorization before the MRI is performed in order to assure your claim is paid at in-network levels or not declined for payment in the most extreme circumstances .


Input: Can You Qualify For Disability Insurance?

Output: It 's hard to answer your question without any specifics about your age , occupation or health . There are several carriers who will write high risk occupations -LRB- if that 's your concern -RRB- , and there are also carriers who will write people with certain medical conditions , though the policy is typically more expensive , has exclusions and/or a smaller benefit period .


Input: Can You Qualify For Disability Insurance?

Output: Aside form all that Kelly said , here are some other things to consider ... Definitions are THE MOST important thing to consider in a DI policy ... You must understand : Total vs. Partial Disability Recurrent Total Disability `` Own Occupation '' ... -LRB- How long does that last -RRB- & much more . Disability has many moving pieces . It 's important to understand what you are buying . I have a great report called `` Stop wasting your money on Disability Insurance '' that you can have ... just reach out for a copy ... - gravy


Input: What To Look For In A Homeowners Insurance?

Output: Here 's a few things that I would pay attention to . You 'll want to have an A Rated carrier by AMBest . You 'll also want to have an `` All-Risk '' Ho3 or Ho5 insurance policy with replacement cost on the dwelling and contents . Try and take the highest deductible you feel comfortable with . This will keep your premium down and save the insurance for catastrophic events . I would recommend you speak with you local independent insurance agent so they can assess your situation and needs .


Input: What To Look For In A Homeowners Insurance?

Output: Be sure to take the time to talk with your Insurance professional about the details of your home . Be sure to include any improvements you have made such as installing an alarm system or upgrading electrical , plumbing or HVAC systems or putting on a new roof . These may qualify you for discounts . Your agent should inspect your property and complete an accurate Reconstruction Analysis to determine the proper recommended coverage . The policy should be issued by a financially solid company so ask for their ratings by AM Best or Moody 's etc. . The coverage should be broad with the exclusions clearly indicated . Understand that two important exclusions that are pretty universal are for damage caused by earth movement and flood . You can endorse coverage for earth movement into your Homeowners ' policy but Flood insurance must be purchased separately .


Input: What Is Mcca Fee On Auto Insurance?

Output: MCCA fee only applies to Michigan residents . MCCA is a catastrophic claims fund that is mandated by state law . For someone who is seriously injured , the auto insurance company is required to provide medical coverage up to $ 530,000 . Anything over that is paid by this MCCA fund . MCCA fees are quite expensive . As of today , it costs $ 186 per year , per vehicle . That rate usually increases every year , with July 1 as the effective date .


Input: How Much Does Long Term Care Insurance Cost On Average?

Output: The cost of long term care insurance depends upon your gender , age , smoking status , health history , current medical condition and the package benefit package you select . A nonsmoking male and female in good health at age 60 using a joint long term care policy can expect to spend around $ 300 a month in premium .


Input: How Much Is The Average Life Insurance Payout?

Output: The life insurance payout is the usually the same as the face amount . Some exceptions would be if the cash value has grown beyond the face amount -LRB- increasing the face amount -RRB- , or if money has been borrowed from the policy and not repaid -LRB- reducing the face amount -RRB- , or if the policy was purchased with a decreasing face amount . The average face amount of policies purchased in 2010 was approximately $ 165,000 , which was down from the previous years .