Input: Is Life Insurance Considered Community Property In Texas?

Output: Under normal or ordinary circumstances , life insurance is community property in Texas - especially the cash value of any permanent or semi-permanent policy . Any reputable life insurance company will require a multiple ownership document to be signed by the two spouses if the owner/payor/insured is married at the time of the purchase . I have dealt with this several times where the companies I place business with require this documentation so they are not caught in a divorce proceeding with he said , she said . The document covers their liability for issuing the policy .


Input: Does Medicare Insurance Cover Dental?

Output: Routine dental checkups , cleanings , dental x-rays , crowns , etc. are not covered under original Medicare -LRB- parts A & B -RRB- . You would need to buy a separate dental insurance plan to cover these benefits . If you have a medically necessary procedure completed in a hospital such as the repair of a broken jaw , then Medicare would cover it because it was an emergency situation . I hope the information is helpful - please feel free to contact me for assistance and if you have any other questions . Thanks very much .


Input: Why Do Life Insurance Policies Lapse?

Output: Life insurance policies lapse if the premium is not paid on time . There is a one month grace period after the premium is due , and if the premium is not paid during that time , it will lapse . Reinstatement is possible but it will take evidence of health that has not changed since taking out the policy .


Input: Why Do Life Insurance Policies Lapse?

Output: Usually insurance policies lapse because premium is n't paid towards the policy . Without premium , the policy goes into `` lapse '' which depending on which state you reside in can last between 30 to 60 days . State insurance laws dictate the when a policy ends . You can be `` reinstated '' by paying the premiums due within that time period . If too much time passes you may have to reprove your good health to regain your policy .


Input: Should I Buy A Medigap Policy?

Output: If you have Medicare Parts A and B , and have elected not to get a Medicare Advantage Plan , it is a good idea to buy Medigap insurance . Although Medicare is very good health insurance , Medicare does not cover 100 % of all health care costs for beneficiaries . You can check whether an item or procedure is covered by Medicare insurance at Medicare.gov . Medicare coverage is subject to deductibles and coinsurance amounts that may possibly be substantial to you . Medigap insurance is designed to pay for deductibles and coinsurance on your behalf in exchange for a predictable monthly premium payment . You have 11 standardized Medigap plans to choose from with various coverage options to meet your budget . I advise finding a licensed insurance agent who is experienced in Medigap plans to assess your needs and objectives and review optimal solutions with you .


Input: Can You Get Auto Insurance Without A Driver License?

Output: Many insurance companies will not insure you without a valid drivers license . However there are valid reasons for one owning a vehicle but having no license such as disability , and having a trusted driver to help you . In some cases , drivers have their license temporarily suspended due to serious driving violations and need insurance to have the license reinstated . There are companies that WILL insure you . Call around to learn your options .


Input: Does life insurance get taxed?

Output: There are several federal tax benefits to owning life insurance . The most obvious is that the death benefit passes to the policy beneficiary income tax free . This doesnt just apply to individuals but can apply to a business , a trust , or an estate as well . When the insurance is owned by a third party or an irrevocable trust it will may also bypass estate taxes . When an owner needs to withdraw money from a policy by surrendering the policy the money that is withdrawn receives favorable tax treatment and only that portion that is in excess to the premiums paid becomes taxable . You can take out federal income tax-free loans from a permanent life insurance policy . The loans may reduce the death benefit and are limited by the cash value of the policy . When loans are taken the proceeds are not subject to the 3.8 % passive income tax rule of the Affordable Care Act -LRB- ACA -RRB- These loans will not affect income taxes on your social security benefits and they do not affect the FAFSA application for student funding . Increasingly policies have provisions that allow the owner to withdraw funds to pay for certain long term care expenses . This is usually free of federal income tax . Discuss this more closely with your insurance agent as different company designs will result in varying taxation . There are tax free transfers available to holders of permanent insurance policies that allow growth in excess of premiums paid to be transferred to other insurance and annuity contracts without incurring a current tax obligation . Of course , death eliminates all taxes on deferred growth .


Input: Does life insurance get taxed?

Output: Life insurance can be taxed in certain circumstances . Here are some of the reasons that it can and can not be taxed . Life insurance can be taxed if you cancel a cash value policy , such as a whole life or universal life where cash value builds . When you surrender or cancel a policy all of the growth of the cash value is taxed as ordinary income . If you apply for a loan to borrow against your cash value and keep it in force , then that money is not taxed . Life insurance death benefits are usually not taxed regardless of whether the policy is cash value or term . Life benefit proceeds are passed directly to the beneficiary tax free and do not go through probate . However , in most cases if the beneficiary is left to the estate and the life proceeds go into probate , then the proceeds can be taxed as part of the estate . Both of these mistakes can be avoided with good planning before it is too late .


Input: Does life insurance get taxed?

Output: The death benefit is usually income tax free to the beneficiary . The reason why I say usually is because there are a few circumstances where the benefit would be taxable . If the death benefit is paid out in installment payments and is gaining interest , the beneficiary would have to pay taxes on the interest earned . The beneficiary of a life insurance policy receives a lump sum of money from the insurance company that is not included as income . The applicant does not pay any taxes on their premium payments as well . Life insurance also skips probate court . Probate court is the court that deals with distribution of assets after one passes . Most individuals have their assets tied up in probate from six months to over two years . Walt Disney passed away in 1966 his estate is still in probate . Nobody has access to the individuals estate until it has gone through the probate court . Life insurance bypasses the probate process and goes to the beneficiary income tax free in most cases .


Input: Does life insurance get taxed?

Output: Simple but short ... normally no ... it is rarely touched by anyone . There are some states with new laws in the making that may change this ... and that is on a case by case basis ... but it will probably take years to shake the insurance company giants to agree to this ... and only if it is the federal government .


Input: Does life insurance get taxed?

Output: Generally , no , but more information needs to be provided to give a more accurate answer . If you receive the proceeds as the beneficiary because of a death of an insured person , the benefits are almost never not included in your taxable income . However , if you receive interest then it has to be reported just like any other interest earned . As and additional note , the death benefit is usually included in calculation the estate taxes of the person who passed away .


Input: Does life insurance get taxed?

Output: The beneficiary of a life insurance policy will not have to pay income tax on the proceeds . Furthermore , if the beneficiary is named in the policy , the death benefit will pass to the beneficiary outside of probate . The owner of the policy , or the estate , may need to pay state and/or federal state or inheritance taxes if the estate is large enough -LRB- life insurance proceeds are included in calculating the size of the estate -RRB- .


Input: Does life insurance get taxed?

Output: Life insurance death benefit proceeds generally pass tax free to the beneficiaries of the policy . There are exceptions such as large estates or in certain business scenarios where the proceeds could be subject to the alternative minimum tax as a preference items . Cash value life insurance that is surrendered or terminated with gain in the contract will be subject to ordinary income tax at the tax bracelet of the policy owner .


Input: Does life insurance get taxed?

Output: Life Insurance proceeds that are paid to your beneficiary generally are not taxable nor are they attachable by any creditor . If , upon receipt of the proceeds , your beneficiary invests or banks all or a portion of the proceeds , then any resulting growth or interest that they enjoy from such action would be taxable .


Input: Does life insurance get taxed?

Output: The death benefit of a life insurance policy passes to the beneficiary tax free . However , in the case of a cash value policy there may be tax due on the money that has grown more than the premium paid . Of course , in most life contracts the beneficiaries do not get the cash values upon death of the insured as they go back to the company upon death . This makes whole life insurance a very bad investment and guarantees the insured to be underinsured . Life insurance should always be separated from money invested by purchasing level term life insurance and investing the difference . If you have a whole life policy and change to a cheaper term policy the cash values does n't have to be lost as they can be transferred into a growth vehicle such as an annuity where it will grow tax-free and probate-free .


Input: Does life insurance get taxed?

Output: Broad questions deserve broad answers and so the question as to taxation of life insurance benefits is this : Generally , life insurance benefits are paid free of income taxation when paid to individuals . But , there are exceptions and possible complications to this simple answer . One big potential problem is when the decedent is also the policy owner and the life insurance gets added to the value of an estate and then taxed in that way . The IRS looks for incidents of ownership up three years prior to the death . Also , life insurance paid to an estate that is subject to other forms of taxation may result in the life benefits being taxed as well so it is n't always a good idea to pay life benefits to an estate . Also , life insurance after the first $ 50,000 is taxed when premium was paid by the employer . Life insurance you buy separately under group options are generally not taxed as income -LRB- provided all the rules are followed - see above -RRB- . Also , generally when a corporation pays the premium and the benefits are payable to the corporation , they ca n't write off the premium and collect the benefit free of income taxation . Under current law life insurance proceeds are only excludable up to the amounts of premium paid by the corpo in following with laws placed on the books in 2006 . There is a whole host of rules that must be followed to avoid taxation but it is possible that life insurance can be paid to a corporation and avoid taxation . While most of us will not be subject to taxation on the life insurance benefit it pays to understand how these benefits become taxable . Then , it is reasonably easy to avoid these pitfalls . Do n't also overlook the advice of a good agent and avoid the use of life insurance trusts to make sure the money moves to the beneficiary without taxation to the largest extent possible .


Input: Does life insurance get taxed?

Output: One of the benefits of life insurance is the protected status it receives with regard to taxes . The death benefit paid to a beneficiary is income tax free . That is there is no income tax assessed on the benefit payment to the beneficiary . With permanent life insurances including Whole Life , Universal Life and others that accrue Cash Value , the cash value growth is also tax free .


Input: Does life insurance get taxed?

Output: Life Insurance is non taxable , anddeath benefit is paid lump sum . This is beneficial in order to repair the family financial losses by creating an estate , paying for funeral expenses , mortgages , and passing wealth for the family generations to come . That is how Life insurance is designed to work . Always name a beneficiary to your policy . Never anyone under a legal age for then the money will be tied up in probate until they are of legal age . Consult with ab Life agent like myself and get more information on how Life Insurance works . I am sure this will benefit you , your family and estate .


Input: Does life insurance get taxed?

Output: Life insurance is in most cases `` income tax free '' , but it may not be `` estate tax free '' . Aspects like ownership , beneficiary , qualified plans for example can determine if proceeds are subject to some form of taxation . When working with a insurance professional it is a wise idea to talk about what you 'd like the insurance policy to do while at same time providing the insurance professional enough financial information to protect your family from situations that could generate taxes unnecessarily .


Input: How Much Does Life Insurance Cost On Average?

Output: It will depend on a variety of factors including ; 1 -RRB- Age - the younger you are , the less expensive it is 2 -RRB- Tobacco use - smokers pay a higher premium than non smokers 3 -RRB- Gender - females tend to be less expensive than their male counterparts at the same age 4 -RRB- Past health - people in good health get better rates than those who have had health issues 5 -RRB- The company you choose - if you compare the same product with different companies you may get various prices . Cheaper is not always better so you need to shop . 6 -RRB- Finally , the type of insurance you choose will impact the price greatly . For younger people term insurance tends to be less expensive than whole life or universal life . Let an agent -LRB- like myself -RRB- give you a quote based on your particular circomstances so you can shop and compare .


Input: How Much Does Life Insurance Cost On Average?

Output: The premium you pay for life insurance depends on factors such as age , insurability , gender , lifestyle , family health history and insurer . It also varies based on how much you need and how long you need it . Term life insurance can cover a temporary need and is very affordable . For example , if you are a male age 40 in excellent health , it may be possible to obtain $ 500,000 coverage for a level premium for 30 years that amounts to a little more than $ 2 per day . For lifetime coverage that you can not outlive , you would need to consider permanent -LRB- cash value -RRB- life insurance coverage and the cost for that is higher . You should meet with a life insurance professional who can assist you .


Input: How Much Does Life Insurance Cost On Average?

Output: According to the FBI there arent two people with the same finger-prints . There are not many people who have exactly the same life insurance premium -LRB- a rough estimate . -RRB- There are many different ages , there are different medical histories and people have different occupations , and hobbies . All of these are factors used by insurance companies to determine rates .


Input: What Is The Difference Between Medicare Advantage And Medigap Insurance?

Output: It can be a bit confusing , but Medigap plans are utilized for persons that are covered under traditional Medicare . You purchase a policy from an insurance company such as Blue Cross , Humana or UnitedHealthcare -LRB- although there are plenty of other insurers to choose from -RRB- . Medicare Advantage is a private health plan that is offered as an alternative to the more-traditional Medicare coverage . Often an HMO or PPO , you may see additional benefits included . An independent broker and/or a reputable website is a great place to view options from multiple companies . You can often instantly compare plans and easily apply online .


Input: What Is The Difference Between Medicare Advantage And Medigap Insurance?

Output: Medicare Advantage plans are a privatized form of Medicare . When you enroll in an Advantage plan you are no longer in original Medicare . Your claims and care are managed by a private insurance carrier . If you are enrolled in original Medicare you should consider buying a Medigap -LRB- Medicare supplement -RRB- plan to cover your deductibles , coinsurance and other out of pocket costs on Medicare approved claims . Once beneficiaries understand the difference in Medicare Advantage and Medigap plans , almost everyone prefers the safety and flexibility of original Medicare and a Medigap plan .


Input: Can Insurance Companies See My Driving Record?

Output: When you apply for auto insurance coverage with a carrier they pull your MVR record from your driver 's license information that you have provided . If the carrier is not able to secure your driving record information they may either decline providing coverage to you or possibly surcharge their base rates .


Input: Can Insurance Companies See My Driving Record?

Output: Insurance companies if you are currently insured can see and pull an updated motor vehicle record on you or any additional insureds on the policy . Not every company does it the same and you could have violations since the policy was put into force that you are not being charged for . If you are looking for quotes then agents will ask if you have had any tickets or accidents usually in the last 5 years or will ask for your license number so they can pull your motor vehicle record and claim record . This is usually the best way for you so the quotes you get are the correct pricing . Find a local agent and ask when you get your quotes if your MVR was pulled if the answer is yes the quotes you are recieving from them should be pretty close to the final rates .


Input: Can Insurance Companies See My Driving Record?

Output: Car insurance companies can request to see your driving record when you apply for coverage . This information is used to determine the rate you pay and what discounts you could qualify for , that might reduce your premium . Since each carrier is different , a broker can make it easy for you to find the lowest rates in your area and apply for that coverage . If you have had tickets and accidents that might still appear on your driving record , a broker can compare the best options from dozens of companies . Online quotes from the top websites can also help . There is never a charge for receiving quotes .


Input: Can Insurance Companies See My Driving Record?

Output: Autoinsurance companies must see your driving record in order to properly rate your auto insurance policy . Once a quote has been offered an agent will ask your permission to run your motor vehicle record in order to validate the rate . Should any violations or accidents show up on the record that were not disclosed the rate would be adjust accordingly . If you are with an existing insurance provider the carrier will usually run your record on an annual basis to see if there is any activity and adjust rates accordingly or possibly chose not to offer a renewal due to high activity on your driving record .


Input: Can Insurance Companies See My Driving Record?

Output: Car insurance companies can see your driving record when you grant permission . Typically , when you apply for coverage , you give your consent for the insurer to check your MVR and other possible accident information . . The information is used to help determine the rate you pay and what discounts you may be eligible for .


Input: How Much Does The Average Person Spend On Health Insurance?

Output: The average person spends approximately $ 4000 - $ 9,000 per year on health insurance . Of course , this assumes that some consumers spend nothing at all , either because they are uninsured or anemployerpays the entire amount . The figures I mentioned also assume that many consumers pay very high premiums , perhaps in excess of $ 10,000 per year , because of age , medical conditions or both .


Input: Can The IRS Go After Life Insurance Proceeds?

Output: Yes , there are no financial products or assets that are fully protected from any US Federal entity if you are US citizen . The IRS has the ability to seize or attempt to seize life insurance proceeds and cash values if you have an outstanding tax liability with the United States Government .


Input: Can The IRS Go After Life Insurance Proceeds?

Output: When speaking of the life insurance death benefit that is left to a person , the IRS generally can not seize the life insurance proceeds from the beneficiary . There are exceptions , such as if the beneficiary filed jointly with the deceased person who owes money to the IRS . The beneficiary being a minor may also present a problem . But as long as the death benefit does not to to the estate , but to a person who is not implicated in that debt , the IRS can not take the death benefit away from you in most cases .


Input: What Happens To People With No Life Insurance?

Output: There is one very key element to this question that is common to all of us , whether or not we own Life Insurance . We are all going to die . Those who have Life Insurance when they die will have provided for some measure of financial security for those whom they love . This , `` legacy of love '' of course could never replace the loved one lost , however , it can provide for final expenses , payment of outstanding debt , etc. as well as offering thesurvivor ` slong term financial security .


Input: What Happens To People With No Life Insurance?

Output: Depends on what their assets are . Typically , there will be little money left for their family and little for burial costs . But why put your family through any of this ? Any life insurance is better than no life insurance . Even the smallest policy can pay for burial expenses . A bit more can help keep your kids in the same house and school . Even if your spouse must return to an outside job , the benefits from even a small policy can help pay some of the bills . You should discuss your needs with a qualified agent . Call me.Gary Lane , Registered Representative and Agent , New York Life , 949 797 2424 . Thank you .


Input: What Happens To People With No Life Insurance?

Output: Life Insurance provides financial security to your heirs so if there is no life insurance in place , no benefit will be received by your heirs . All the final expenses will have to be paid by assets of the deceased such as from savings and checking accounts . There will be other expenses which the family would most likely have to pay as well . Consider at least a final expense policy to help with burial and other final costs .


Input: What Happens To People With No Life Insurance?

Output: There is no law that makes you buy life insurance , so there is no penalty for not buying life insurance . However , even if you are on Medicaid , Social Security , or are a veteran , there is no fund that will pay for more than about 10 % of your final expense costs . If you do not have the money saved up to cover your expenses after you die , it is on your shoulders to take care of that through life insurance or other savings . Otherwise , it will be your family 's responsibility .


Input: Can Your Home Insurance Drop You?

Output: A homeowners policy is a legal contract . While the company has stated obligations , so do you . If you fail to live up to one of those obligations such as bringing a vicious dog onto your property , the company can cancel coverage . There are other reasons that a company can give . Surprisingly , people abandon their property . When the company discovers this situation they start proceedings to cancel the coverage . Of course , they can always cancel you for not paying your premiums on time .


Input: What Does PD Stand For In Auto Insurance?

Output: `` PD '' refers to property damage or physical damage that is caused to the property of another , as a result of your negligence in a vehicle related accident . It is your liability coverage but for property only , i.e. to someone else 's auto , a fire-hydrant , a fence , etc. , as a result of your vehicle negligence . It does not respond to bodily injuries . -LRB- Those are covered in your policy under BI limits . -RRB- With PD , you choose the limit of liability you want , for your particular needs . Most times , the minimum limit is dictated by law . Another valuable coverage under property damage is for legal defense costs for which you may be sued , as a result of the physical damages


Input: Who Are The Best Health Insurance Companies?

Output: Indeed , there may be no `` right '' answer regarding who is the best health insurance company . It actually depends upon yourspecificneeds . For example , if an HSA was an ideal option for you , perhaps Anthem Blue Cross or UnitedHealthcare would be the best option . Conversely , if you needed copay coverage and you wanted prescription benefits with no deductible , perhaps Medical Mutual or Kaiser may be your best choice . Ultimately , the `` best '' health insurance carrier is the company that offers you medical benefits that match your specific needs in your particular part of the state that you live . As you get older , those needs can easily change . Thus , utilizing an experienced broker and/or their website is a must . You 'll be able to choose among quality plans at the lowest available rates . The Affordable Care Act will also allow you to utilize an `` Open Enrollment , '' which may result in federal tax subsidies that lower your rate .


Input: Who Are The Best Health Insurance Companies?

Output: The term `` best '' is a subjective term . I do n't feel there are any `` best '' companies since most will pay their claims . A lot depends on the are you live in as far as what plans are offered . United Health Care is one of the largest in the world and is very competitive in most area 's . Humana has a good reputation as well as Aetna . Medical Mutual and Blue Cross are also very good . I look at the larger stable companies . There are some smaller companies that are good as well . No company is perfect and you will have complaints from friends and neighbors or the internet about all of them . My favorites would be United Health Care , Anthem Blue Cross -LRB- if available in your area -RRB- Medical Mutual , and Aetna .


Input: Can You Get Retroactive Homeowners Insurance?

Output: If a quote for coverage was in place and the underwriting process begun with all of the requirements of the carrier input ; it is possible that a retroactive date for the start of coverage be enacted on the policy . This typically will be no more than seven days prior to completion of the underwriting process and will be allowed or dis-allowed as per the carrier 's policies and procedures .


Input: Does Health Insurance Cover Sleep Disorders?

Output: As long as the sleep disorder is under a physicians care , considered medically necessary treatment and not excluded due a limitation or pre-existing condition clause , then most times YES ! It 's vital to not only read your benefits , but also to contact your carrier prior to treatment to make sure your benefits cover the expense .


Input: Does Homeowners Insurance Cover Lightning Damage?

Output: Yes . For a house there are three basic levels of coverage you can have , HO-1 , HO-2 or HO-3 , which translates to basic , broad and special forms . In the most basic of forms , an HO-1 , there are usually eleven listed perils , one of them being lightning damage . More often than not an agent will place you under a HO-3 form , which is the special form . This provides the most coverage . However , even if your agent placed you with an HO-1 you will still have protection against lightning , unless for some reason it was specifically excluded . So for good measure review your policy just in case .


Input: Is IFA Auto Insurance Good?

Output: While I personally have no experience with this particular company , a quick look at AM Best shows that they currently have only a C++ financial strength rating with a negative outlook . Indeed , they were just downgraded on their financial strength on March 17 , 2014 . Keep in mind , that AM Best is not a gauge of a company 's claims processes and procedures ; it is only a representation of a company 's financial reserves , pending claims , policyholder surplus , and an estimate of a company 's ability to pay future claims . Our agency has chosen not to represent a company rated less than A - , as it is not unusual for companies rated lower to have financial problems . However , that being said , there are a large number of smaller companies with a lower financial strength rating that are very good companies with great reputations . The only way to tell would be to go to the department of insurance for the state of domicile and check the complaints and judgments rendered .


Input: Can You Change Medigap Plans Every Year?

Output: Unlike Medicare Advantage plans , there is no `` open enrollment '' period every year for Medigap plans . Issuance of these policies is not guaranteed accept when you are `` aging iin '' to Medicare benefits at age 65 , or later if you first become eligible to make Medicare `` primary '' because your employer provided heath insurance has continued . That being said , however , you can apply for a new Medigap plan every year if you are healthy enough to satisfactorily answer the questions in the insurance application . Be careful though..pre-existing conditions may not be covered right away .


Input: Can You Change Medigap Plans Every Year?

Output: Yes . Medigap plans are not subject to annual enrollment periods that you see with Medicare Advantage and Part D prescription drug plans . You could even change it more than once a year if you wanted to . Since Medigap plans are standardized , a plan F from company A is the EXACT same plan F from company B . The only difference between the two is the price you pay , which is why many people change their plans often so they can make sure they 're paying the lowest possible rate for their coverage . I hope the information is helpful - please feel free to contact me for help , including quotes and plan comparisons , and if you have any other questions . Thanks very much .


Input: What Happens If I Cancel My Term Life Insurance?

Output: The premium for a term policy is guaranteed for a certain number of years . If you cancel the policy prior to the end of that term you will have paid slightly more for the coverage than was necessary . Few term policies have any cash value so there isnt anything to offset the cost of having carried the policy . However , if the policy has done its job and is not needed any longer it is not necessary to keep it .


Input: What Happens If I Cancel My Term Life Insurance?

Output: Term life insurance is referred to as a `` unilateral contract '' . This means that you are paying the insurance company to cover you . If you stop paying , you coverage ends and you are on longer covered . There are some carriers that will offer a refund of your premiums but this is not the norm . If you stop paying your premiums you policy will lapse on its own .


Input: What Happens If I Cancel My Term Life Insurance?

Output: That is the problem with Term Life . If you cancel it you have nothing , no coverage , no policy , and no money , no equity build up . It is the cheapest form of pure life insurance to start , but this is it draw back . That is why folks frequently go with Indexed Universal Life . Talk with your agent about that and whole life . Thank you . GARY LANE .


Input: What Happens If I Cancel My Term Life Insurance?

Output: If you cancel your term life insurance policy , your policy simply ends . Since there is no cash value , you will not get any money back , and there are no monetary penalties for cancellation of term life insurance . If you want coverage in the future , you will have to reapply for a new policy .


Input: What Happens If Home Insurance Is Cancelled?

Output: Aside from the obvious dangerous loss of coverage , you may have problems with your Mortgage Company . If you have a mortgage and your insurance cancels , it is likely that you will receive a letter asking you to provide proof of coverage . If none is provided , it is likely that the mortgage company will obtain coverage on your home in THEIR interest and pass on the cost to you through your monthly mortgate payments . If you had been paying your insurance provider $ 1000 a year , you can expect that the mortgage company insurance policy will run you substantially more than that , say $ 3,000 . And remember , it covers their interest , not yours .


Input: What Year Did Roth IRA Began?

Output: The Roth IRA was borne out of the Taxpayer Relief Act of 1997 . The law was signed into effect on August 5 , 1997 . The first year a Roth IRA was available was 1998 . The Roth IRA is named after Senator William Roth of Delaware who served as chairman of the Senate Finance Committee from 1995 until he left office in 2001 .


Input: Why Should We Buy Life Insurance?

Output: The main purpose for life insurance is to create a leveraged cash benefit when the insured passes . The proceeds can be used for simple burial , settling an estate , used in a buy/sell agreement among business owners , and many other purposes .


Input: Why Should We Buy Life Insurance?

Output: I recommend you contact an independent agent who can offer many options for a Life Insurance policy . They can help you determine if purchasing a policy is justified based on your individual needs . If it is recommended/determined that you purchase a policy , having this conversation can also determine what type of policy will best suit your specific needs ...


Input: Why Should We Buy Life Insurance?

Output: Why should you buy life insurance ? Maybe you should n't . If no one depends on you for income , if you will have no final expenses to bury or cremate you , if you do n't care about the person that might be stuck paying off your debt , then , do n't buy life insurance . Also , people that do not believe in insurance should n't buy it . In spite of the fact that owning an insurance policy is not a religious commitment , buying it might disrupt their value system and enrich an already wealthy insurance agent or insurance company . On the other hand , if you do care about anything other than yourself at all , you should consider buying it . Even a small face amount of life insurance is better than having none . It might provide you with some peace of mind as the gurney you are bleeding to death on is being rolled into the surgical unit .


Input: How Does The IRS Know My Roth IRA Contribution?

Output: How does the IRS know about my Roth Contributions ? Well , they know because the place you put that money has to tell the IRS that they have the money . Part of the cost of having something like a Roth or an IRA or any qualified plan is reporting . The people that take your money must tell the government they have it .


Input: How Does The IRS Know My Roth IRA Contribution?

Output: Your contribution to a Roth IRA does not even appear on the IRS radar until you make a withdrawal . At that time the company will report anything that will create a taxable event . That probably means that your Roth IRA will operate outside the IRS purview forever . It was purchased with after-tax dollars and the benefits of a plan that has been in force for five years and that makes distribution after you are 50.5 years old are free of income tax .


Input: Can I Cancel My Current Auto Insurance?

Output: That is a great question ! Of course you can , provided you 've either decided to no longer drive , or you 've found and purchased an alternative policy . The penalties for being an uninsured motorist are bad , and the consequences of getting caught -LRB- or worse -RRB- are long lasting . If you 've found a better policy , tell your agent that you want to cancel the policy , as of the day the other one goes into effect . Thanks for asking !


Input: Can I Cancel My Current Auto Insurance?

Output: You shoudl find your answer to this questionadressed inside your policy -LRB- contract -RRB- . Look through the contents and you will find cancellation mentioned . It usually is in the back part of the policy . It will tell you exactly what you need to do to cancel the policy . Most carriers expect the request to be in writing . Carriers should also backdate a cancellation request if you provide proof of comparable coverage with another carrier , or selling your vehicle . The company may penalize you or short-rate your cancelation , making your refund less than you expect . That also should be clearly stated in the policy .


Input: Can I Cancel My Current Auto Insurance?

Output: Yes you can cancel an auto policy . The company will have earned a premium but anything remaining will be returned to you . Most companies are reluctant to cancel a policy after the date requested because they were technically on the risk . Evidence of insurance elsewhere or a bill of sale is the two evidences necessary to get a cancelled after the fact .


Input: Who Is Primerica Life Insurance Company?

Output: Primerica is a life insurance company founded in the 1970 's by Arthur L. Williams and originally conducted business under the name A.L. Williams Life . The company changed it names in the 90 's to Primerica and has undergone numerous acquisitions among various financial services companies including Citi Holdings , which divested itself of the company a few years ago . The insurer is well known for its term insurance only position within the industry and maintains decent credit ratings for a US life insurer .


Input: What Are Disadvantages Of Annuities?

Output: That is a great question ! The biggest disadvantage to annuities is the lack of liquidity . For the first few years of the annuity , there are hefty surrender fees if something happens , and you need to pull some cash quickly . Most annuities will allow for a small fee free withdrawal , generally up to 10 % , but by taking even that cash , you greatly reduce the earnings potential of the annuity . Another disadvantage would arise if the rate of return on the annuity ended up being lower than what you might have received had the money been invested differently . If you 've got sufficient cash reserves and have done your homework before buying , neither of these should be an issue . Thanks for asking !


Input: What Are Disadvantages Of Annuities?

Output: In general , there are two types of annuities : variable annuities and fixed annuities . Variable annuities are often described as mutual funds inside an insurance contract . Variable annuities have fees that are higher than fixed annuities , and while they are subject to market gains , they can also be subject to market losses . It is possible to lose principal in a variable annuity . Surrender charges apply and can be significant in the first few years . Insurance companies take your annuity money and make long-term commitments using that money and if you decide to pull your money out on an accelerated schedule other than that which was originally agreed upon , they can lose out on their long-term investment . Fixed annuities , which include indexed annuities , are not subject to market losses and most come with the commitment to `` never go down '' in value . Fixed annuities have penalties for early withdrawal and they are significant in the first few years . You are generally allowed an amount you can withdraw `` penalty free '' each year - around 10 % . Fixed annuities are not FDIC insured . They are based on the `` claims paying ability and financial strength of the issuing insurance company '' . Look at the history of insurance companies over the past 100 + years and you 'll probably favor what you see over the banking industry . While there are some `` annuity bashers '' out there , they generally have a product they are trying to sell that suits their agenda or wallet . Annuities should be considered a long-term product and if you purchase an annuity , you should only do so with money you are certain will not be needed over the life of that annuity . There are penalty free withdrawal provisions and you should be aware of what those are . Annuities have lots of advantages and certainly some disadvantages as well . As always , the suitability of a financial product is based on your specific situation and needs and a licensed , qualified financial professional should be sought out to help .


Input: Who Has The Best Term Life Insurance?

Output: The best term life insurance is , of course , the plan that provides the cheapest rates for the time period you need , from a major A-rated company . OK ... So how do you find these companies and prices ? With more than 33 years of experience as a life insurance broker , I 'll tell you ! Shopping the right way is critical , and using an experienced broker -LRB- and their website -RRB- we 'll save you hours of time and research , and ensure you are getting the best available rates from a top-rated company . That 's our job , and we find the best offers . The company could vary , depending on many factors , including your age , face amount of coverage , your health , and number of years of guaranteed premiums .


Input: Who Has The Best Term Life Insurance?

Output: The best term life insurance will depend on your unique situation and health background . There are many great companies that provide term life insurance . No one company will be the least expensive for every age and health rating if price is your priority . It is important to seek the advice of an advisor who can do some preliminary underwriting to determine what your risk class may be and then shop all of the A rated or better carrier to find the best company for your unique needs . Some companies provide special riders for living benefits which may also be something to consider .


Input: How Do Irrevocable Life Insurance Trusts Work?

Output: Usually a person or persons who have an estate tax or state tax liability desire to pay those taxes with the leverage of life insurance . But if the life insurance is paid into the estate , it only exasperates the taxes due . One way to avoid the taxes on the life insurance proceeds is to have the irrevocable life insurance trust own the policy on behalf of the beneficiaries .


Input: Can You Be Denied Health Insurance In Indiana?

Output: Effective 1/1/2014 nobody can be denied health insurance in Indiana or any other state in the country . However , you will need to enroll in a policy during the enrollment period or else you 'll be unable to get insurance unless you fall under a special enrollment circumstance . Please click the `` Contact Me '' button on the left or run your own personalized quote at : WEBSITELINK Also , you can call me anytime at : 561-320-2978


Input: Can You Be Denied Health Insurance In Indiana?

Output: During Open Enrollment , you can not be denied health insurance in Indiana -LRB- assuming you meet eligibility guidelines -RRB- . The Affordable Care Act -LRB- ACA -RRB- also provides a federal subsidy that can potentially reduce your premium . The amount is based on household income . When Open Enrollment ends , assuming you do not have a qualifying event , a short-term policy -LRB- which is not ACA-compliant -RRB- can be applied for . But you CAN be denied for this type of coverage .


Input: Does My Health Insurance Cover Me On A Cruise?

Output: Most health insurance plans , including major medical , supplemental health plans and Medicare do include coverage for individuals on a cruise . A cruise that is limited to the coastal United States and does not venture in to international waters is fine , but once you leave the states your coverage may have limits . Medicare beneficiaries with certain Medigap plans and traveling outside the United States have $ 50,000 of supplemental benefits . Some Medicare Advantage plans also include coverage outside the states Anyone traveling out of country should consider an international travel medical plan to supplement their regular health insurance -LRB- including Medicare -RRB- .


Input: What Percentage Of U.S. Healthcare Is Medicare?

Output: Roughly 50 million people are covered by Medicare out of a population in the 330 million range so that is about 15 % of the population . You did n't ask , but about 70 million are covered by Medicaid . That means roughly a third of the population is covered by taxpayer funded government health insurance .


Input: What Does Long Term Disability Insurance Cost?

Output: Disability insurance depends on a number of factors . The cost -LRB- your premium -RRB- is based on a number of factors - the most important being your medical history , your job , and your income - and the policies are very customizable . This is a very important type of coverage to have that many do n't think about . It protects one of your greatest assets - your ability to work.If you ca n't work because of an injury or illness , how do you provide income for you and your family . The answer ? Your disability insurance . When you 're buying a disability policy , the MOST important factor in the policy structure is the DEFINITION OF DISABILITY . Each policy will use 1 of the 3 definitions : 1 -RRB- True Own Occupation - this says you are considered totally disabled if , solely due to injury or sickness , you are not able to perform the material and substantial duties of your occupation , even if you are at work in another occupation . In short , this is the most favorable definition you can have . 2 -RRB- Modified Own Occupation - this says that you are considered totally disabled if , solely due to injury or sickness , you are not able to perform the material and substantial duties of your occupation . This one is commonly seen in many individual disability insurance policies . 3 -RRB- Gainful Occupation - this says if you are unable to perform the duties of your occupation or any occupation for which you are qualified for by education , training , or experience due to sickness or injury . In short , this is the least favorable definition . This one is commonly seen in group disability insurance policies through an employer and property and casualty insurers that offer disability coverage . There are many moving parts to disability insurance and is not something I would suggest trying to buy on your own - this is a type of coverage you should consult with an experienced independent disability insurance broker about . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much .


Input: What Does Long Term Disability Insurance Cost?

Output: Long term disability insurance is a morbidity insurance product . The price tag of long term disability insurance depends on your gender , age , smoking status , health history , current medical condition , prescriptions and any purchase of additional riders like inflation or cost of living . A nonsmoking age 60 and in good health will pay around $ 7,000 for a long term disability insurance policy covering a six figure income .


Input: Does Health Insurance Pay For Tubal Ligation?

Output: It will depend on the specifics of your health plan , but since a tubal ligation is not a medical necessity it likely would not be covered . Another issue concerns medical complications from the tubal ligation procedure . In most cases , complications would be a covered expense even though the original procedure was not .


Input: How Is Interest Calculated On A Fixed Annuity?

Output: Fixed annuities have fixed rate of returns credit once every year on your anniversary date . It is compounded normally daily . Then their are fixed index annuities that offer a fixed rate of return or one that is indexed to the indexes such as the Dow Jones or Nasdaq and several other indexes each insurance company has its own twist on its offering of index plans


Input: Why Purchase Long Term Care Insurance?

Output: People purchase long term care insurance because they want to protect their assets , and because they want to be involved in the decisions about what long term care they receive . Having a long term care insurance policy can pay the insured person funds that can be used to pay for a home health aid , personal assistant so they can live in an independent living residence , or monthly charge for assisted living or nursing home . While it gives the person freedom to choose the care they are most comfortable with , it also allows them to hold onto their assets that might have to be spent on long term care , without insurance .


Input: Which Annuities Avoid Probate?

Output: All annuities that have a named beneficiary avoid probate . The annuity is a contract and the named beneficiary receives the cash value of the contract as per the agreement therein . If , however , the contract does not have a named beneficiary then the cash value of the annuity will go to the contract owner 's estate at which point in time it would be subject to the probate process .


Input: Should Renters Insurance Be Required?

Output: As and Insurance agent I would have to say yes it should be required . As a consumers pint of view I can see why you would not want the extra expense . But The policies on average are 10 to 15 a month and it lowers your car insurance that much a month with many carriers if you bundle it . What little you are paying for in the event of a loss you would be glad you had the coverage . What a renters policy is paying for is many things from Liability if someone get hurt at your apartment to if you had a fire and had to stay in another place till you could move back in it would cover your living expense . It also covers to replace your thing like clothes and furniture and much more . Many home owners that are renting out the home with some carriers they require that if you are renting the home that they have to have the renters get renters insurance . There are more benefits to having it then not .


Input: Where To Buy Private Health Insurance?

Output: Private health is sold in all fifty states . . I found the best way is google affordable healthcare.com ... The site will ask for your zip code and few basic questions . The it proceed to multiply insurance companies with their basic bare bones quote . Find the three you like the most after reading their short introduction . Then take those three down and go to freeadvice , com . AT that site they give you the ratings on how well that company performs in the open market ,


Input: Why Do I Have To Have Homeowners Insurance?

Output: Technically you do not have to have homeowners insurance . It is not required at this time by law in any of the states in the United States to the best of my knowledge . Your mortgage lender will typically require homeowners insurance coverage to protect themselves against loss in the event of a covered loss . There are way to many reasons to list here as to why you should have coverage . Please contact a local agent to discuss your coverage needs and concerns .


Input: Does Chewing Tobacco Increase Life Insurance Rates?

Output: Chewing tobacco increases life insurance rates drastically with most companies . There are a handful of companies that will charge Standard range nontobacco rates for use of tobacco other than cigarettes ; however , even of those , most will charge smoker rates if nicotine is detected in the blood or urine . Chewing tobacco does put nicotine into the bloodstream , so you must use the right company to get nonsmoker rates , and you must use an agent who knows the right questions to ask -LRB- for e.g. you can not have smoked cigarettes in recent past to get this nontobacco rate , even if you only use chewing tobacco now -RRB- . An agent who specializes in Tobacco Life Insurance rates can get you a personalized nontobacco rate while using chewing tobacco .


Input: Does Chewing Tobacco Increase Life Insurance Rates?

Output: Does chewing tobacco cause your life insurance rates to be higher ? Yes , with just about every company out there . Currently Prudential is one of the few that does not treat chewing tobacco in the same manner they treat smoking . I am really not aware of any others that do n't charge the smokers rate . Smoker life rates run anywhere from 40 to 60 % higher costs for purchasing life coverage . Another cost of smoking .


Input: Does Chewing Tobacco Increase Life Insurance Rates?

Output: In most cases , yes chewing tobacco is viewed by the majority of life insurance companies the same as smoking . Nicotine is the key addictive ingredient that causes a higher rating . Therefore , nicotine gum and patches are rated as well . Life insurance companies typically double or triple rates based on nicotine use . However , there are a few carriers that under certain circumstances will underwrite you at a non tobacco rate . feel free to contact me if you have any further questions . I am always glad to help .


Input: Does Chewing Tobacco Increase Life Insurance Rates?

Output: Yes Yes Yes . Definitely . Absolutely . I can not be clearer . Tobacco of any kind in any manner will add nicotine to your blood . As soon as that nicotine is detected , life insurance rates will reflect that fact . You need to stop chewing for many reasons , not just the insurance rates . Once you have stopped for several months , you will see your rates go way down . Thank you . GARY LANE .


Input: Does Chewing Tobacco Increase Life Insurance Rates?

Output: That is a great question ! And a really good reason why an independent agent is worth a ton of money to you . Most companies will ask a question along the lines of `` do you use nicotine in any form '' , but there are some that ask more specific questions , that do n't mention chewing tobacco . That said , the incidences of throat and mouth cancers are through the roof for chewing tobacco users , so if it is n't life insurance costs , it will be health insurance costs . Please consider stopping before you become another statistic . Thanks for asking !


Input: Does Chewing Tobacco Increase Life Insurance Rates?

Output: In most cases , yes chewing tobacco is viewed by the majority of life insurance companies the same as smoking . Nicotine is the key addictive ingredient that causes a higher rating . Therefore , nicotine gum and patches are rated as well . Life insurance companies typically double or triple rates based on nicotine use . However , there are a few carriers that under certain circumstances will underwrite you at a non tobacco rate . When you are being tested , underwriters use your paramed exam results , blood and urine , to detect your tobacco habits . They test for cotine instead of nicotine which stays in your system 14 days longer than nicotine . So , if you are an occasional cigar smoker , for example , you would need to be free of tobacco for at least 2 weeks prior to testing . If you are a heavy user it could take months to clear your system . Feel free to contact me if you have any further questions . I am always glad to help .


Input: How Much Does A Renters Insurance Cost Per Month?

Output: The cost of a renters policy is determined by the amount and type of coverage you choose . It can also be dependent upon the age of the building , the number of units in the building , proximity to fire department services etc. . Some of my clients in CT have policies that cost them around $ 14.00 a month while others pay around $ 30.00 or more .


Input: How Much Does A Renters Insurance Cost Per Month?

Output: I saw a recent TV ad stating that some particular company provided renters insurance for $ 8.00 month or less . That doesnt mean anything . My average renters policy is probably around $ 12.00 month but that is not a reflection on the company I might use , rather it is a reflection on the values being insured . There are also regional differences and other underwriting concerns . Get a quote and find out how much it is going to cost you . Agents give quotes for free .


Input: Can Unmarried People Share Auto Insurance?

Output: Yes as long as they have joint ownership of the vehicle insured . Insuring an automobile , or any item , requires an individual to have an insurable interest in that item . Insurable interest for most property items requires having an ownership interest in the item . Cars should be titled in both members name . In fact , in some states even a married couple could run into trouble insuring an item if only one spouse has legal ownership .


Input: Does A Single Person With No Kids Need Life Insurance?

Output: It depends , is there someone who will have to take care of your stuff and clean up your situation if you pass ? In other words , you may be single , but is there somebody who loves you enough to be that person who handles your service , settles your stuff and maybe empties your apartment or home . Usually it 's your mom . The question only you can answer is how much more difficult do you want to make it for your mom ? Is n't losing a child -LRB- no matter what age -RRB- for a mom , hard enough ? Would you want to add to the pain by having her come up with the money to take care of what you leave behind ? Do you want her to forgo wages because of your situation ? For me , as a young man long before insurance as a career came into place , the idea of being single and owning life insurance made sense . I simply did n't want to crush my mom under the burdens of losing me , paying for my service , dealing with my stuff . I know usually somebody will whip out some `` math '' to get you not do what I suggest and that 's fine . Sometimes the `` Math '' simply does n't matter . Your choice .


Input: Does A Single Person With No Kids Need Life Insurance?

Output: Every situation is different but I would recommend taking out at least enough to pay final expenses and any debt . Also keep in mind that the younger you are when you purchase a policy the lower the premium , so unless you are planning on staying single , you may want to consider this .


Input: Does A Single Person With No Kids Need Life Insurance?

Output: If you have no kids , no other persons who would suffer financial loss or whose future would be in financial jeopardy , you may not need life insurance . If you have no charities or and any benevolent intent towards anyone , you may not need life insurance . But if youre healthy and want to save for retirement using a tax deferred accumulating product that has the potential to generate tax free income , you may want to consider life insurance .


Input: Does Life Insurance Count In Net Worth?

Output: Only the cash value of permanent policies you own counts toward your net worth while the insured person is alive . If you receive a death benefit as beneficiary of a life insurance policy , then the entire amount that you received does count toward your net worth for financial planning purposes .


Input: Does Life Insurance Count In Net Worth?

Output: You can certainly count the cash surrender value of a life insurance policy towards your networth . The death benefit of a policy would be added to your total gross estate , but you would normally not include this in your networth calculation while you are alive .


Input: Does Life Insurance Count In Net Worth?

Output: Does life insurance count towards net worth ? Well , it depends on who 's doing the counting . Normally , the cash values of a life insurance policy could be included in net worth calculations , but usually not the death benefit . Now , in dealing with estate tax planning the life insurance death benefit is included as part of the taxable estate value . This is based on ownership of the policy . If the policy is owned by a trust or another person , it is not counted against the estate .


Input: How Many Years Of Long Term Care Insurance Do I Need?

Output: You can request the maximum coverage which may differ from company to company and sometimes by state because the price for assisted living and nursing home confinement costs differ . In Arizona my long term care insurance policy pays 7,000 a month for a total benefit of $ 420,000 or 60 months of coverage .


Input: How Can I Compare Renters Insurance Quotes In Oklahoma?

Output: Find an agent who will ask a lot of questions . Off the shelf proposals will do you no good . Once the questions are answered . the proposals should all have the same limits for your personal property and a $ 300,000 personal liability option -LRB- it only cost $ 10-12 to go from $ 100,000 to $ 300,000 -RRB- At that point the agent should let you compare all the quotes to make a wise decision .


Input: How Much Disability Insurance Coverage Do I Need?

Output: Most people feel that they need as much Disability Insurance as they can get , which is approximately 70 % of one 's regular income . The reason is , most people spend most of their income every month and feel that they could not get by on any less than that . If you only spend 50 % of your income on normal expenses each month , you could consider taking 50 % of your monthly income in Disability coverage .


Input: How Much Disability Insurance Coverage Do I Need?

Output: Your need as much disability insurance coverage allowable by the issuing company to protect your compensation . A combination of deductible disability insurance coverage and your retirement contribution protection can come close to covering your earnings . If youre a business owner you can also buy overhead expense and loan protection through disability insurance policies that are specifically designed for those business expenses .


Input: What Is Supplemental Long Term Disability Insurance?

Output: A supplemental disability insurance is a personally owned long term disability policy usually purchased to supplement a group employer sponsored long term disability plan . You are basically `` supplementing '' your existing group plan with a personally owned policy . The reason this is necessary is because most group plans only cover 50 - 60 % of an employees income . A supplemental policy will provide additional coverage in addition to the group plan . The amount of supplemental disability coverage you can purchase is limited based on the insurance carriers guidelines . This is determined by the amount of your income your group plan covers and weather or not you pay for your group plan or your company does . As a general rule , most carriers wo n't let you insure more than 70 % of your gross annual income .


Input: What Is Supplemental Long Term Disability Insurance?

Output: Supplemental Long Term Disability Insurance is Disability Insurance that supplements what is provided by your employer . Group Disability policies usually pay 60 % of the employee 's income , and if the employer pays the premium for the policy , the benefit is taxed , reducing what is paid out to the employee . Supplemental Long Term Disability Insurance can increase this benefit , as well as offer some other features that the group Disability plan does not offer .


Input: Can I Get Life Insurance If I Am Bipolar?

Output: Yes , most people can get some sort of life insurance while having bipolar disorder , be it a fully medically underwritten policy that requires exam and medical records , or graded policy that does not require any exam or medical records , or something in between . The number one consideration as to whether you can get a medically underwritten policy will be if you are on Disability specifically for your bipolar disorder . If so , then the No Exam route is the way to go . If you are able to work full time and lead a stable life in spite of having bipolar disorder , and your treatment has been successful and consistent for over a year , you should be able to get a medically underwritten policy that pays 100 % of the death benefit from day one , and at fairly reasonable rates .


Input: Can I Get Life Insurance If I Am Bipolar?

Output: Depending on the company and the plan you may be able to get a policy . Insurance companies look at the medications you are on , how long you have had the problem , have you been hospitalized ? , Any history of suicide attempts and are there any other health issues ? A good independent agent will look at these factors to determine the best course to take . He -LRB- or She -RRB- may want to try a fully underwritten plan . He can call the company and get a pre-approval before writing the policy . You may need to go with a simplified issue plan . If there are serious health problems going on , the agent can always go with a guaranteed issue plan . In either case , you are not going to get the kind of rates available for a perfectly healthy person . But yes , you can get insurance


Input: Can I Get Life Insurance If I Am Bipolar?

Output: Can a person get life insurance if they are Bipolar ? Yes , they can . The question becomes at what price and what face amount ? Someone with Bipolar disorder is going to be underwritten on an individual basis as there is a range , rather than a specific point with Bipolar illness .


Input: What Is An Economic Life Insurance Policy?

Output: Economic Life Insurance is another name for Economatic Life Insurance , or Enhanced Whole Life . This is one of the categories of Whole Life . Economic Whole Life policies combine term and participating life insurance . If dividends are paid , it is applied to paid up insurance , which in turn reduces the Term coverage . The total coverage remains the same ; the paid up additions gradually replace the Term coverage with Permanent coverage .


Input: What Is An Economic Life Insurance Policy?

Output: Unless this is a proprietary product name for a life insurance company , the question may be asking about the economic benefit of a life insurance policy . The life insurance economic benefit used in split dollar designs or life insurance policies held in qualified plans have two components ; the cash value and the death benefit . The death benefit can be deemed as additional compensation that has an economic benefit that will be taxed at ordinary income tax rates .


Input: What To Do With Life Insurance Money?

Output: Death benefit proceeds generally pass to the policy beneficiary tax free . What the beneficiary does with the proceeds is really up to them . But most advisers recommend paying off your debts , which may include mortgage . If there 's money left , you should fund college education for your children or grandchildren .


Input: What Is Assigned Risk Auto Insurance?

Output: Most States require proof that Liability Insurance be in force in order to register a car and maintain that registration . Primary Auto INsurance providers operating within such States , of course file their own underwriting rules and standards along with the rates that that they charge to the INsurance Department , which approves these for their direct insuring operations . However , in States where insurance is required , these states can not also obligate an insuring company to alter it 's underwriting standards in order to accomidate all situations . In most cases , the licensed insuring companies are required to form a `` pool '' of sorts which have commonly over the years becme known as the `` Assigned Risk Pool '' . An applicant completes a general application for coverage and that is submitted to the Assigned Risk Administration , which then proceeds to transfer that risk -LRB- assign -RRB- it to a particular participating carrier who then issues the policy on their paper and based upon the filed rates of the Assigned Risk Plan in that State .


Input: How Much Does Life Insurance Cost A Year?

Output: To see what the life insurance might cost per year for you , you can visit a website that offers instant premiums . There you can input different face amounts and term lengths to get an idea what your policy would cost . Keep in mind that the price will depend on whether your health fits those underwriting guidelines .


Input: How Much Does Life Insurance Cost A Year?

Output: It depends on many factors , but here are the main factors for price . 1 -RRB- What 's the policy type ? 2 -RRB- What 's the face amount ? 3 -RRB- What 's your gender ? 4 -RRB- What 's your age ? 5 -RRB- What 's your general health like ? 6 -RRB- Are you a tobacco user ? What you should look at are basically two main questions . What does the life insurance cover and how much do I need ? Cost is a factor for a policy , but it 's much more important to get the right policy with the riders you 'll need .


Input: How Much Does Life Insurance Cost A Year?

Output: This is one of those answers that comes out as `` it depends '' . There are just too many factors included in calculating the annual cost of life insurance . Just to quote a life premium an agent needs to know , the type of policy , face amount , age , build , occupation , state of residence , life style and health status in order to run an accurate quote .


Input: Can You Renew Term Life Insurance?

Output: You can often renew term life insurance , but it is not going to be at the rate you were paying . For example , if your 10-year annual ; premium was $ 400 per year , your `` guaranteed '' renewal might be $ 2,500 ! However , if you are still in reasonably good health , you can apply for a new policy with the most competitive carrier and probably get a much lower rate . A full-time financial planner or broker always will provide you with the best advice .


Input: Can You Renew Term Life Insurance?

Output: Annual renewable term life insurance is renewable at an ever increasing annual premium . Some guaranteed level term life insurance can renew after the guaranteed period is over at an ever increasing annual premium . Many planners recommend purchasing term life insurance with a conversion clause to extend permanent coverage as another alternative to renewable premiums .


Input: Can You Renew Term Life Insurance?

Output: Whether you can renew term life insurance depends on a few things . Most insurers offer guaranteed renewable term insurance up to a certain age such as 70 , 75 and in some cases 80 . That does n't mean that you can renew it at the same premium amount as you had the first time ! The premium amount is adjusted upward for every year you live . If yours is not a guaranteed renewable you may have to qualify according to your health condition as well in order to renew or buy a new policy . These are some of the reasons it 's better to buy Whole Life or convert your term to whole life while it 's available and relatively affordable .


Input: Can You Renew Term Life Insurance?

Output: The good news is that many policies will give you the option to renew your policy when you reach the end of the term . The bad news is that youll probably face much higher costs since age is one of key factors used to determine life insurance premiums . To renew the policy , you also may have to present evidence of insurability -LRB- thats insurance jargon meaning , take another medical exam and answer a new round of questions about your lifestyle , health status and family health history -RRB- . If youre still a fine specimen with healthy living habits , you might re-qualify at a reasonable rate . But if your health has deteriorated , you may find that its too expensive to renew your policy or you may not even re-qualify .


Input: How To Negotiate Contracts With Health Insurance Companies?

Output: I presume from your question that you must be a health care provider or supply some type of service and/or product that is reimbursable under health insurance plans . First , you need to determine the competitive environment for your product or service in your marketplace . If you have lots of competition your negotiating position will not be as strong -LRB- perhaps nonexistent -RRB- as if there is limited competition for your product or service in your marketplace . The insurance company will know the answer to this question from their perspective so you need to know the answer too before engaging in discussions with insurance carriers . Know what the absolute minimum is that you can accept as payment for your product or service . In today 's environment cost is the main driver in provider contracting , any insurance carrier is going to want the lowest possible cost from any provider/vendor they contract with . What they want to pay could well be below your cost of providing the service . You will have to make a business decision if such an arrangement would make business sense in the overall context of your total business model . What is your unique selling proposition ? What do you offer that a competitor or other product does not provide or provide as well ? Do you offer a qualitative advantage , a price advantage , or both ? They are going to ask you these questions and expect you to prove it so be prepared . Do research on the insurance carriers . Does your target market align with theirs ? If your focus is on infant care calling on an insurance carrier who is more focused on the senior marketplace is obviously a waste of everyone 's time . Even among health insurance carriers that from the outside seem to be competing for the same market segment you will find upon closer examination that they all have their areas of market strengths and weaknesses and marketplace segments they focus on . Some are more oriented towards individual and small group health insurance while others really shine in the large group space . Knowing this in advance and knowing what your capabilities are will allow you to focus on the prospective carriers best aligned with the marketplace that is also the best fit for your product or service . Once you have these basics understood you can begin contacting the various insurance carriers and ask to be put in touch with the department and/or person who handles the insurance carrier 's provider contracting and you can let the games begin .


Input: Should we file an insurance claim if there is structural damage to a house when it is caused by settling?

Output: Homeowners Insurance generally excludes settling of a home . Your standard HO 3 policy will read an Exclusion for : Settling , shrinking , bulging or expansion , including resultant cracking , of bulkheads , pavements , patios , footings , foundations , walls , floors , roofs or ceilings . However in any potential claim situation I recommend you consult your insurance provider .


Input: Can You Have Two Health Insurance Policies At The Same Time?

Output: I suppose you could have two health insurance policies in effect at the same time . But why would you ? You ca n't duplicate coverage and get paid twice , so it would not make financial sense . It 's easier to shop and compare the most affordable plans and purchase the policy that best fits your needs . As experienced and unbiased brokers , that 's our job !


Input: Which Private Health Insurance Covers Cosmetic Surgery?

Output: Health insurance will only cover cosmetic surgery if it 's medically necessary . If you 're getting an elective cosmetic procedure done , you would be responsible for paying the entire cost of the surgery out-of-pocket . Because surgery is very expensive in general , it 's always good to talk to your agent/insurance carrier to see if a procedure would be covered .


Input: Can I Use 401K For Home Purchase?

Output: Your employer has designed your 401 -LRB- k -RRB- plan . In the design premature distributions are addressed . Sometimes employers allow premature distributions for home purchase . If your plan allows that , then taking out money would be permissible . It is not a matter of law it is a matter of plan design .


Input: How Do I Buy Term Life Insurance?

Output: You can buy term life insurance in one of two ways : 1 -RRB- with an exam , or 2 -RRB- without an exam . 1 -RRB- With an exam . You would choose this option if you have reasonably good health , because you will be evaluated by your exam results to see if you qualify . Also , taking a medically underwritten policy that requires an exam is generally for those who want a larger face amount than a a burial policy . It can save you money to go to the added effort of taking the exam , and the exam does not incur any cost to you . It is generally done in your home , and entails a blood sample , urine sample , height , weight , blood pressure , pulse , and medical questions . Backing up , you first contact a website or agency to decide what face amount and length of term you want . You will be asked many medical questions to determine which company has your best price . Then you fill out an application , either by paper or online or over the phone . The exam follows , and possibly the underwriter will order medical records from your doctor -LRB- s -RRB- . When a decision has been made , some agents call you to tell you -LRB- e.g. we give you the option to change the face amount or term if it did not turn out as hoped -RRB- . Some just mail you the policy . You accept it by filling out some delivery paperwork . Payment can be done by check -LRB- almost always reserved for quarterly , semi-annual or annual payments -RRB- or bank or credit card draft . 2 -RRB- Without an exam . People often choose this method for : a. smaller policies , b. because they can not qualify for a policy that requires an exam , c. because they do not like having their blood drawn , and/or d. because they do n't want to go through the hassle of an exam . Some no exam policies have quite reasonable rates , especially for those who would qualify as standard on medically underwritten policies . This type of application is usually filled out online and signed digitally , but can be done by paper application , as well . The process goes a lot faster than applying for a policy requiring an exam . The policy often goes into effect as soon as approved and the first payment is drafted . I hope that helps . Please feel free to contact me for more information .


Input: How Do I Buy Term Life Insurance?

Output: I recommend that you contact a life insurance agent . The agent will listen to you , provide sound financial advice and communicate clearly with you and the company . Setting the limits of the policy is critical . The agents recommendations can match your needs with your ability to pay . The peace of mind knowing that you have the coverage that you need is valuable .


Input: How Do I Buy Term Life Insurance?

Output: Video Transcript : Today 's question is , `` How to buy term life insurance ? '' Well , I say , when I go out to the brokerage market I want to see a brokerage house that shows as many carriers as possible and , believe you me , there are hundreds of term life insurance companies . I want to look at their premium price because they vary between first place and twentieth place . It could be 20 percent premium , so you definitely want to shop it . The second thing , who is the most benevolent underwriting company ? Who is going to give you the best possible offer based on your medical history and your paramed exam that you 're going to need to take with the application . To me it 's really important when you 're looking at buying term life insurance to make sure you cover the period that you need to have , that you already settled in your mind that is a temporary coverage need and you do n't need permanent . When you 're looking at term , it 's price and your underwriting offer that you 're going to get from your carrier .


Input: How Do I Buy Term Life Insurance?

Output: To buy term life insurance , you must first determine how much you need , how long you want the term to last , and how much you have to spend . It can be helpful to shop websites that offer quotes right online , then talk to an agent to determine if you qualify for those rates . Agencies that carry a number of choices can find you the best prices for your age , build and health . If you are applying for a medically underwritten policy , the next step will be to apply , then take a free life insurance exam in your home , or other location of your choice . Once the underwriting process is complete , you will find out if you are approved , and your rate . If you are applying for a No Exam policy , you may be able to put it in place in as little as 24 hours . Most take longer . Term insurance is very straightforward and there is a lot of competition . With an ethical agent , you should have no trouble getting a policy that you like .


Input: Does Renters Insurance Move With You?

Output: Generally your renters policy will extend coverage to your new residence for a brief period of time -LRB- typically 30 days . -RRB- The company may just change the address and consider the policy shifted but it could be that the fire rating or some other underwriting requirement is different at your new residence causing a re-writing of the policy .


Input: Does Renters Insurance Move With You?

Output: Within your state you should be able to just change the address but it could vary in price depending on the area . Every state can vary but that 's the way it works in Texas . Keep the insurance though no matter where you move . Also remember the price varies due to the risk in an area ... are you moving into a neighborhood with higher violence or perhaps more storms ? It all plays a factor in pricing So dont get mad at the insurance agent or company they can not control humans or Mother Nature .


Input: Does Renters Insurance Move With You?

Output: Renters may move with you if all other underwriting guidelines remain the same . I am assuming that you are moving withing the state and not across state lines . I am assuming that you are not moving to flood zone within the state that require flood insurance . You are also not moving from an apartment to a mobile or trailer home . All things being equal your your renters insurance moves with you .


Input: Does Renters Insurance Move With You?

Output: That is a great question ! The answer depends upon your individual policy . Some companies will allow for a short extension of your coverage to your new place , typically about a month . Others will not , as the new place has new risk variables , and they will not want to pay for a claim filed in the new apartment . Check with your agent , and find out if your policy will cover you . Good luck , happy moving , and thanks for asking !


Input: Where Are Annuities Invested?

Output: Where are annuities invested ? Well the way to find out is review the insurance company that you bought from financials . There you can get an idea of where they invest to support the annuities they sell . Usually annuities will be invested in safe investments because they have a guaranteed return . The advantage insurance companies possess is the size of the investment . When investing millions to billions they can get a better interest rate on their money compared to someone wanting to invest a few thousand .


Input: Where Are Annuities Invested?

Output: Life insurance companies primarily purchase investment grade government bonds , i.e. class I and II.Some companies use indices as their crediting method using indexed options . Other companies use separate sub account crediting methods linked to equity and bond instruments that are not part of the company 's general account .


Input: Can Life Insurance Be Used In An IRA?

Output: You can not use any form of life insurance in an qualified IRA.You can use life insurance in other qualified retirement plans like 401 -LRB- k -RRB- . Participating whole life insurance can be up to 49.5 % of the annual contribution and universal life can be up to 25 % of the annual contribution .


Input: When Did Disability Insurance Start?

Output: In the mid 1800 's , companies started selling policies that covered illnesses and injuries , and these were precursors to today 's disability insurance policies . In the 1900 's businesses started providing group disability insurance plans . While called disability insurance , those plans were more like group health insurance plans that are provided today .


Input: What Are The Types Of Life Insurance Policies?

Output: Life insurance has two categories : Term and Permanent . Within the Term category is regular Term and Return of Premium Term . Term insurance usually has no cash value and jumps way up in price at the end of the term . The latter , ROP Term , will return a portion of the premiums if the policy is cancelled in its later years . If the Insured person is alive when the term ends , 100 % of the premiums that were paid in will be paid back to the owner of the policy . Permanent Life Insurance includes Whole Life and several types of Universal Life . These policies have a savings feature in addition to the pure protection , that allows them to stay in effect to a very advanced age . The cash value can also be accessed for other purposes while the Insured person is still alive .


Input: How To Get Health Insurance When Cobra Runs Out?

Output: You can easily get health insurance when you have exhausted COBRA . An experienced broker -LRB- and our websites -RRB- will help you find affordable coverage through your State Exchange , which provides guaranteed benefits with a federal subsidy -LRB- if you qualify -RRB- . Pre-existing conditions will be covered and you can not be turned down for medical reasons . Four Metal plans will be offered along with a catastrophic option , if your household income meets specific requirements . Typically , there is a window of time to take advantage of the offer .


Input: Why Do Doctors Hate Medicare?

Output: It is a love-hate relationship , mostly because the Medicare system is manipulated by politicians who blame doctors -LRB- and hospitals -RRB- for rising costs of Medicare . Medicare pays doctors less than private insurance carriers for treating patients . On average , about 20 % less . There is no reason for them to be happy about doing the same work for a Medicare patient as for one with private insurance but being forced to accept 20 % lower reimbursement .


Input: Why Do Doctors Hate Medicare?

Output: why do doctors hate Medicare ? Mainly because Medicare payment rates to doctors are below what it costs them to run their office and procedures . So seeing too many Medicare patients can hurt a doctor 's practice . That is why so many limit how many Medicare patients they will see without supplement plans to accompany the Medicare coverage .


Input: What Is The Best Long Term Care Insurance?

Output: There are only about a half dozen long term companies left in the market place that offer traditional standalone polices on long term care insurance . Each company has policy provisions that are distinctive and can be somewhat tailored for certain groups . But with all that said , the overall long term care insurance company recommendation is Genworth .


Input: What Does B1 Mean On A Medicare Card?

Output: Medicare numbers in most cases are your Social Security number plus a letter at the end . In some cases your Medicare number may be the Social Security number of your spouse . The letters at the end of your number designate your `` status '' as a Medicare beneficiary . A `` B '' at the end means you are retired . `` B1 '' means you are the spouse of a retired worker .


Input: How Much Life Insurance Should I Get For My For Kids?

Output: It depends on your objectives . Parents usually buy life insurance on their children for a couple of reasons . At a minimum , you probably want at least enough to cover the cost of final arrangements -LRB- funeral , cremation , etc -RRB- . Tha smallest stand-alone policies are usually around $ 5,000 . On the other end of the scale , you may want to buy more for your child in order to lock in coverage for them as they go into adulthood , and you might look at $ 100,000 or more . Insuring children can be a smart financial decision , but I would never insure my children until I had myself insured for as much as it would take to replace the amount of my income I want my family to receive should I die .


Input: How To Add Boyfriend To Health Insurance?

Output: It 's quite simple really , you get MARRIED . This change of life status event makes your new spouse a legally eligible dependent that you can add onto your coverage at your employer or to your individual health insurance policy . You have 60-days after getting married to make this change to your coverage . If you are covered by employer based coverage you can double check on this with your personnel department . While I 've never seen it in my nearly 30 years in the business , there may be some self-insured employer out there that has established an internal personnel policy that allows for the coverage of `` boyfriends '' and `` girlfriends '' . But these more casual relationships do not have the same legal recognition that establishes a true dependent status such as with a husband , wife or children . It is highly unlikely that your state 's insurance regulations and/or your employer 's personnel policies will confer true dependent status on this level of relationship .


Input: Who Is My Local Medicare Carrier?

Output: This is a good question . Medicare is national and this is your medicare part A and B . Now Medicare advantage and medicare supplements are by zipcode . If you are around the Chicago area , definitely contact me , otherwise find an agent/broker in your area to help you find you options . Keep in mind , if you work with an agent normally they only handle one insurance company , so you will have to call out agents for every company as opposed to going to one broker that handles all the carriers such as myself .


Input: What Is Life Insurance Net Cash Value Face Amount?

Output: The question may be an inquiry on the net amount at risk , the difference between the death benefit and the accumulated cash values . That difference measures the net cost of insurance , the largest expense component , charged to the policy . The spread between the cash value and death benefit amount is dependent upon the performance of the policy and the current company charge for the annual cost of insurance .


Input: What Is Life Insurance Net Cash Value Face Amount?

Output: The net cash value of life insurance is the amount of cash you would receive if you cancelled the policy . `` Net '' cash value is the total accumulated cash value minus any outstanding loans , surrender charges , etc. . The face amount is the amount of coverage you originally took out . The net cash value may or may not be the same as the face amount .


Input: Does Medicare Cover Mammograms Every Year?

Output: That is a great question ! Yes , Medicare part B covers a screening every twelve months . Eleven full months have to have elapsed between screenings . A diagnostic screening can be done anytime that it is prescribed . The Affordable Care Act -LRB- Obamacare -RRB- makes a mammogram available every one to two years for any woman over the age of 40 . They are a covered procedure by your insurer . Thanks for asking !


Input: Will Obamacare Cut Medicare?

Output: According to Heritage.org , Obamacare cuts $ 716 billion from Medicare from 2013 - 2022 . Most of the cuts come in the form of reduced payment for hospital services -LRB- $ 260 billion -RRB- , reduced funding for Medicare Advantage -LRB- $ 156 billion -RRB- and reduced payment to charity hospitals -LRB- $ 145 billion -RRB- . All of these cuts combined mean limited access to medical providers , fewer Advantage choices , higher Part D premiums and higher Part D out of pocket .


Input: Will Obamacare Cut Medicare?

Output: The cuts are real , and from what I see , the carriers are working to cut their costs in some creative ways . This can be a benefit for those among us that have neglected their health and fitness , or just need a little boost . For instance , fitness programs can now be an included benefit in Medicare Advantage Plans . Some carriers are giving gift cards to get your screenings done . Smoking and obesity education are often available . Yes , a more fit population lowers the cost for the carrier , but so what ! Why not take advantage of their programs , take some initiative and get some healthier life choices . Life is not a dress rehearsal , so make the most of your life by being as healthy as your age and abilities allow . Check out these new benefits , or call your agent to find out what supplemental programs are offered by your carrier . The cuts are not going away , so the healthier you are , the less you will feel the financial pinch of those cuts . Like your mom said , `` eat your vegetables ! ''


Input: When You Rent A Car Does Your Insurance Cover It?

Output: Always check with your insurance professional before renting a car . Generally speaking , unless you have special limits found in a non standard policy , the coverage you have on your personal auto policy does extend over to rental cars while they temporarily replace yours . Keep in mind , though that if you have an older car , for example , and are not carrying Collision on your policy , you will not have collision on the rental . The Liability coverage you have transfers fully , but comp and collision only transfer if you have them . Remember though that I referred to a rental car . This extension of coverage does not necessarily include rental vans or trucks used for moving or hauling.One other thing to keep in mind . Many credit card ccontracts provide some limited coverage if used when renting a car.This is usually up to $ 500.00 which may be enough to cover the deductible from your personal auto policy .


Input: Can You Negotiate Life Insurance?

Output: In general , you can not negotiate life insurance . The rates are set at a certain cost per thousand dollars of coverage , and there is no bargaining allowed to reduce that cost . However , if you are rated higher than you think is fair , you can use an experienced life insurance agent to go to bat for you . You may be able to get a letter from your doctor that helps the underwriter see your health in a better light . You may be able to provide additional medical records or testing to improve your rating . You might possibly even be able to obtain a lower rating from one company on the grounds of what another company rated you .


Input: Can You Negotiate Life Insurance?

Output: Life insurance pricing is based on actuarial statistics and your personal medical information . Over half of Americans who own life insurance are in the wrong rate class . Understanding how to position your medical information and present mitigating credits like diet and exercise can elevate you one to two rate classes that may result in significant savings .


Input: Can I Drive An Uninsured Car On My Own Insurance?

Output: That would depend ... Some insurance companies will cover 3rd party vehicles your liability coverage will follow you depending on the policy and the State . Some insurance companies will not cover this at all . Check with your agent in your State first . I would want to see that in writing before I purchase a policy .


Input: Can I Drive An Uninsured Car On My Own Insurance?

Output: The problem with driving an uninsured car is that in many if not all cases , if it is un insured , then it may also be un registered and therefore illegal to drive on public access roads and highways in your state or any other . Talk to your Insurance Professional about the coverage extensions from your auto policy because it may very well be that the coverage provided may indeed extend over to any vehicle you are driving that temporarily replaces yours . This would more than likely not be the case if you are driving a car in a foreign country .


Input: Can I Drive An Uninsured Car On My Own Insurance?

Output: When you drive a car , it should be covered under your existing policy , or it should be insured separately through someone 's policy . However , if youpurchasea new vehicle , although you may not have officially added the vehicle to the policy , it is covered for a specific period of time . Typically , it is approximately 30 days .


Input: Can I Drive An Uninsured Car On My Own Insurance?

Output: Yes , insurance will follow the driver . This applies only to theliabilitycoverage however if you are driving someoneelse scar that is not covered by insurance . There are some situations where theCollisionand Comprehensive portion of your policy may be extended to the other vehicle . For example , if you purchase a new car andhave n'tadded it to your policy as yet , then as long as you had full coverage on the old vehicle , that coverage would extend .


Input: How Much Is Health Insurance For A Small Business?

Output: Group health insurance quotes are based on the size of your business , the industrys SIC code , age of employees , and average employee health -LRB- except in Maryland , which requires no medical underwriting -RRB- . There are no instant online quotes for group health insurance for these reasons . To get a quote for group coverage , you 'll need to contact a health insurance agent - working with an independent one will allow you to shop for quotes from multiple companies in one place . I hope the information is helpful - please feel free to contact me for help with your health insurance needs and if you have any other questions . Thanks very much .


Input: How To Buy Car Insurance Online?

Output: I personally would not recommend purchasing your auto insurance online . If you are determined to purchase your auto insurance online , there are a few companies that are selling this coverage through the internet just search for them . I feel the best way topurchase insurance is to meet with an agent so that they can inform you of the coverages available and the pricing of those coverages .


Input: What Is Retirement Survivors And Disability Insurance?

Output: Retirement , Survivors , and Disability Insurance is a reference to three of the benefits that Social Security pays to those who have paid into Social Security taxes . The `` retirement '' part refers to Social Security income that people get when they retire . the `` survivors '' part refers to the Social Security income benefits paid to dependents of a qualified deceased person . And the `` disability '' part refers to Social Security Disability benefits disabled persons receive if they are qualified .