Input: What Is A Simple Retirement Plan?

Output: what is a SIMPLE retirement plan ? A Simple is an inexpensive opportunity for a small business to have a retirement plan that does n't break the bank in advisor fees . A Simple plan is an IRS approved plan with only a few steps to follow so expensive testing and record keeping are n't necessary . For any small business who are considering a retirement plan to offer , this should be right on top as it does provide a great platform for a business who would rather use it 's money to put towards employees retirements rather than third party administers plans .


Input: What Is A Simple Retirement Plan?

Output: Simple IRA is actually an acronym for Savings Incentive Match Plan for Employees Individual Retirement Account . It is an employer sponsored plan similar to 401ks , 403b , etc. , but with much lower admin costs . It can be funded with pretax dollars , but is still subject to FICA , FUTA , SUTA . The contribution limits for 2013 are $ 12,000 for those age 50 and younger and $ 14,500 for those older than age 50 .


Input: Does Home Insurance Cover A Leaking Roof?

Output: It is always best to talk to your Insurance Professional about the specific terms and conditions of your policy . In general , a Homeowners policy will help you with damage that is caused by a `` covered peril '' as they are listed in your policy documents . There may be situations where the water damage to your interior walls but the repair of your roof may not be included . In general , Insurance does not pay for damage that is an ultimate result of wear and tear or neglect so it is always a good idea to look over your property as each season changes to see if anything needs attention .


Input: Does Home Insurance Cover A Leaking Roof?

Output: This really depends on the cause of the leaky roof . If you file the claim with the insurer , they will send out an adjuster to assess the cause of the roof . If the leak is deemed to be caused by an event covered by your policy then the insurer will cover the leak . If the adjuster determines that the leak is caused by an event not covered by your policy -LRB- neglect/deferred maintenance being the most common example -RRB- than the insurer will not pay to fix the roof .


Input: Does Home Insurance Cover A Leaking Roof?

Output: If the leaky roof was caused by a covered peril then it may be covered under your home owners policy . Every policy and company is different . It is recommended that you read your policy completely to know what is covered and what is excluded or call your local agent and have them explain what is covered and what is excluded within your policy .


Input: How Much Life Insurance Should A Person Have?

Output: Depends on what financial problems you leave behind when you die . If you make $ 50,000 per year and have dependents it 's very likely that you need $ 500,000 to $ 1,000,000 in life insurance . There are all sorts of reasons and amounts that different people need though . You definitely need to find a good independent agent in your area to sit down with you and do some fact finding . It 's easy to put off but very important .


Input: Can I Get Life Insurance After A Stroke?

Output: If you have had one stroke that had minimal effects and several years have passed since having the stroke , you may be able to get a medically underwritten policy of any amount for which you financially qualify , with immediate death benefit . If your stroke impacted your health enough that you needed to go on Disability but you are still able to do all your own activities of daily living and walk without personal assistance -LRB- can or walker is OK -RRB- , then there are a number of simplified issue policies that may or not be graded , that you can get . If your stroke caused you to require use of a wheelchair , home health or nursing home care -LRB- inability to do your own ADL 's -RRB- , or causes significant confusion , then guaranteed issue policies are available to most people . These are more restrictive in features than the other policies , but are available for final expense purposes . Contact an impaired risk underwriting agency that carries all these types of policies and understands life insurance underwriting for stroke , and you will get your best price .


Input: Can I Get Life Insurance After A Stroke?

Output: Life insurance is generally available to most people . Preconditions , including stroke , do n't necessarily preclude someone from being insurable . First , you must understand that the issuance of life insurance is primarily dependent upon one 's medical condition . So although you may be limited by the amount of coverage you can obtain you should still be eligible as long as your condition is being treated and you have n't been told by your physician that `` death is imminent within the next 12 months '' . Second , you have to seek out insurers , like myself , who are more flexible with their insurance offerings . For instance , insurer 's such as myself can often issue a policy without a medical exam .


Input: What Is Surrender Value Of Life Insurance?

Output: The surrender value of life insurance is the amount of cash you can take from the policy if you let it lapse , or `` surrender '' it . It will be the cash value of your policy , minus any fees or surrender charges . During the first years of your policy , there may be no surrender value due to these charges , and the fact that it takes time to accumulate cash value in most life insurance policies .


Input: What Is Surrender Value Of Life Insurance?

Output: If you purchase Whole Life , it grows in value , and increases the death benefit without ever increasing the cost . If you cancel that policy later for any reason , there is an amount called surrender value , that you will be paid . It can be very large . A much better solution , however , is to keep your whole life policy , letting it continue to grow , but take some money out of it , for your emergency needs . The policy will keep growing as though the money were still in it . If you never pay back the money , the death benefit will be lower , but you will still have life insurance . Even if you became uninsurable , your whole life policy will continue to be yours . Gary Lane , Registered Representative , New York Life , 949 797 2424 . Thank you .


Input: Can I Purchase Short Term Disability Insurance?

Output: You can purchase Short Term Disability Insurance ; however , the number of companies that sell it are extremely limited , compared to the number that sell Long Term Disability Insurance . Also , the premiums are steep . But if you want to use it for the purpose of a known need like pregnancy , it can be worth it .


Input: When Do You Purchase Home Insurance?

Output: You purchase homeowners insurance when your lender requires you to do so . You may not have a lender and then you might purchase a policy if you are not able to absorb the financial losses that can come with home ownership to include the destruction of the residence . The very worst case can be a lawsuit arising from an injury to someone on your property . Not very many people can pay that .


Input: Who Has The Best Medigap Policy?

Output: That really depends on several factors . What might be a great Medigap Policy in one state may not be the best in another . Premiums can be different based on where you live and your smoking status . The benefits of all Medigap Plans will be the same . For example , Plan F at one carrier will have exactly the same benefits as the next carrier . However , there are several different plans you can pick and all will have a letter like Plan F , Plan G , Plan J , etc. . The best way to find out who has the best Medigap Policy for you is to contact an independent agent that specializes in Medigap Plans . They will be able to show you the plans from all the major carriers and you will be able to quickly answer that question .


Input: Who Can Be Added To Health Insurance?

Output: Typically , a health insurance policy will allow you to have your spouse , children -LRB- up to age 26 -RRB- , and any legal dependents . In some states , domestic partners are also allowed to be on the same policy . I suggest consulting a licensed insurance advisor in your area to find the best possible option for you and your family .


Input: Who Can Be Added To Health Insurance?

Output: Generally , you can only add your spouse or kids to your health insurance policy . If you 're trying to add your kids , they can stay on your plan up until age 26 . Your parents typically can not be added to your health plan . In some cases , if you are claiming them as a dependent on your tax return , you may be able to add them to your health plan . Check with your agent/insurance company to see who is allowed to be added under your plan - what 's allowed can vary from company to company .


Input: What Is Group Retirement Savings Plan?

Output: Typicallya group retirement savings plan is an employment based retirement savings plan associated with the company you work for . The 401K has become the dominant form of such retirement plans as they are referred to as defined contribution plans rather than the defined benefit pension plans common in past years . Defined benefit pension plans promised the retiree a definite monthly benefit upon their meeting the retirement requirements of the plan and thus created an open ended liability to the employer . Under the 401K , defined contribution approach , generally the employer agrees to match -LRB- up to a certain limit -RRB- the contribution the employee themselves makes to the 401k retirement plan . These funds are then invested and grow tax deferred to build a retirement nest egg for the employee but the employer 's liability is limited to whatever contribution they agree to make during the term of employment of the employee and their liabilities and financial contributions cease with the employee 's retirement or termination of employment -LRB- the employee can roll over their 401K plan funds from one company to another or into individual retirement vehicles but you should discuss these issues with a financial advisor -RRB- .


Input: Does Wells Fargo Sell Annuities?

Output: Well Fargo 's advisors sell annuities as agents . Well Fargo does not itself manufacture annuity products . So when you purchase an annuity through Well Fargo , Wells Fargo or their advisory group is acting as an agent just as any agent would when they sell you an annuity , and Well Fargo receives the commissions that would be paid to an agent .


Input: Does Long Term Health Insurance Cover In Home Care?

Output: Assuming Long Term Health Insurance is referring to Long Term Care Insurance , yes , some Long Term Care Insurance plans do cover in home care . The features of each policy and each company can vary a lot , so ask your agent to find you one that covers in home care , and to explain the features of the plan to you very thoroughly .


Input: What states do not allow medicare excess charges?

Output: Medicare is a federal government run program - the benefits provided under Medicare Parts A & B are the same in each state . If a doctor accepts assignment , they are accepting the Medicare approved amount as payment in full and will not bill the insured an excess charge . When a doctor does not accept assignment , they reserve the right to charge an amount above and beyond the Medicare approved amount , up to 15 % . For example , if you have a service done that Medicare says costs $ 200 and the doctor accepts Medicare , but not assignment , they can charge the insured up to an additional $ 30 for the service . A Medicare supplement plan is a great way to cover excess charges . If your primary care physician accepts Medicare , but does not accept assignment , you may want to secure a Medigap plan F . If they do accept assignment , a plan N may be more suitable to your needs . Plans F & G will cover excess charges - the other Medicare supplement plans will not . The states that do not allow excess charges -LRB- due to the Medicare Overcharge Measure Law -RRB- are Connecticut , Massachusetts , Minnesota , New York , Ohio , Pennsylvania , Rhode Island and Vermont . However , this is only a critical item if you have a Medicare Supplement plan that does not cover Part B excess charges . If you have a plan F or plan G , then it wont really matter because the plan would pay the excess charges regardless . I hope the information is helpful - please feel free to contact me for help with your Medicare Supplement programs , including quotes and plan comparisons , and if you have any other questions . Thanks very much .


Input: What Are Typical Rates For Life Insurance?

Output: Here are some sample rates for you : $ 100/month $ 1000/month $ 10,000 / month Hmmm . Clearly , more information is needed . Face amount ? Guarantee period ? Gender ? State of residence ? Smoker status?Underwriting class ? You want to know something interesting ? You could have two people born on the same day , same gender , same medical history , and same everything else , except one of them had a parent who died of cancer before age 60 - and each could be charged a different rate for the exact same life insurance product ! Life insurance underwriting gets very , very particular . This , of course , means that your broker should prequalify you for coverage so that you know you are being given both a low rate , and a reliable rate , tailor made just for you . Not what is typical , but what is competitive for YOU . Life insurance just can not be treated as any old commodity when you shop for it . You can go to the Internet and shop for any car . As long as you are keeping consistent with the features , you can find out what different dealers and private sellers would charge for it . An apples for apples comparison . But the thing is with life insurance , different companies specialize in underwriting different types of risk . Some are good for heart cases , other for cancer cases . Others only really want people with no history of serious illness at all . Not only that : your broker has to have a very good relationship with the carrier to get it to be very aggressive in applying its underwriting standards . You cant just call up the carrier on some website quote service and expect to get the rate on your screen . Many times the broker has to advocate on behalf of the client to make sure the rate quoted is the rate approved . It takes work . Really , the last thing you want is a typical rate . What you want is the rate that is the best for you . You can invest a little time with a broker who will pre-underwrite you , and youll find out in short order .


Input: What Are Typical Rates For Life Insurance?

Output: The rates on purchasing life insurance have many factors to determine rates . There are hundreds of companies selling thousands of products . All life insurance companies use your age , build , state of residence , occupation , income , health status and life style to determine a specific premium just for you . I recommend using an independent life insurance broker to professionally shop the market for the best product at the best price to meet your goals .


Input: I'm 16 How Do I Get Car Insurance?

Output: The first most obvious avenue would be to have you added to your parents or guardian 's policy . If this is not possible then I would speak with the agent that handles your parents or guardian 's policy . If you can not do either of the previous then I would suggest contacting local agents or seek out coverage through a carriers website .


Input: When Was The First Life Insurance Policy Issued?

Output: The oldest life insurance policy for which there is surviving evidence was taken out on William Gybbon on June 18 , 1583 , in London . Mr. Gybbon was a salter of fish and meat for the city of London . He bought a one year policy from Alderman Richard Martin and passed away before the end of the year . At first the company refused to pay , but after some legal wrangling , Martin won .


Input: Why Do Car Insurance Premiums Increase?

Output: Car insurance premiums can increase for a variety of reasons . The most significant increases can occur after you 've been involved in an at fault accident . Some companies such as Allstate will give you accident forgiveness so this does not happen . Other reasons that can cause premiums to go up vary from company/statewide increases due to a higher loss % in your area to diminishing discounts .


Input: Why Do Car Insurance Premiums Increase?

Output: Car insurance premiums increase because of increased claims or a perception by the insurer that your risk for having an accident has increased . Of course , the cost of liability , cost of repair to vehicles and value of other vehicles on the road has an impact . During my 33 years as a car insurance broker -LRB- and owner of several of the nation 's top car insurance websites -RRB- , this question is asked quite often !


Input: Why Do Car Insurance Premiums Increase?

Output: Every state insurance commissioner approves the rating structure used by a company operating in its state . Rate structures reflect the companys ability to pay claims and this is monitored closely . If you experience a rate increase it is either because the rating structure or the rates themselves have changed or because your personal experience has changed . For example you could have reached an age or experience level that would cause the price to lower . You could have been convicted of a violation , or been involved in an accident . Your agent should be able to explain to you specifically why your rate changed .


Input: Does Health Insurance Coverage End After Leaving Job?

Output: Yes , once you leave employment you will lose your health insurance . You will be given a certificate of creditable coverage and you will be offered COBRA . This gives you the option to continue to pay for your health insurance coverage for a period of time . With the Affordable Care Act this may change .


Input: Will insurance cover a fire if it occurred on the same day a policy was reinstated?

Output: The insurance company is obligated to pay all just claims anytime the policy is in-force . As mentioned in previous answers , the company will investigate your claim thoroughly to determine the cause of the fire . It would be mighty handy for it to be from lightning as anything else is going to appear very suspicious .


Input: Will insurance cover a fire if it occurred on the same day a policy was reinstated?

Output: The start date and time is the exact moment that coverage begins . If a loss occurs within minutes following the start date and time , the company would be obligated to cover the loss . As you can imagine the claims department will probably look quite closely at the circumstances to determine if fraud was involved in any manner . Fire is such a rare occurrence that a fire happening immediately following reinstatement would raise suspicion .


Input: Will insurance cover a fire if it occurred on the same day a policy was reinstated?

Output: That is a very good question ! It will certainly be something that the insurance company will be very suspicious of , as it is always very coincidental when the policy and claim come in the same day . I 'd expect that they will work very hard at showing reason to doubt the fire was a naturally occurring accident that you had no knowledge of beforehand - you were n't aware of any thing that might have contributed to it , let 's say . The way I read your post , the policy was inforce for nearly an hour before the fire , so they would definitely seem to be be obligated to pay . However , I 'd bet there is a clause or some language in the policy that protects the insurer from suspicious or intentional claims , and my best guess is this is where your battle will be fought . I am not a lawyer , and would not give you any legal advice , but if they drag their feet about paying the claim you may want to have one on hand , just in case . Good luck , and thanks for asking !


Input: Will insurance cover a fire if it occurred on the same day a policy was reinstated?

Output: Yes , from what you provided it should in most cases be a covered loss . As long as the fire started AFTER the policy coverage began it would be covered . It does not matter if it started 1 minute after the policy went into effect , it should be covered as long as none of the policies exclusions would apply .


Input: Will insurance cover a fire if it occurred on the same day a policy was reinstated?

Output: It is pretty common and I dare say universal that a policy cancellation takes place at midnignt of the cancellation date . Reinstatements are timed at 12:01 AM . I have to be honest with you , If the fire occured at 12:50 AM and the payment was not processed until 11:00 AM , some eleven hours and ten minutes later , I would be prepared to deal with a pretty thorough investigation of the loss . Many companies require a `` No Loss Statement '' signed by the insured when payment is accepted to reinstate a lapsed policy , others may not .


Input: Is A Mustang Considered A Sports Car On Insurance?

Output: It may be considered as a sports -LRB- performance -RRB- car , depending on : 1 . Insurance carrier guidelines 2 . Line of business : personal or commercial ? 3 . Vehicle year make and model . Mustang with a smaller engine may be considered as a sedan and with a larger engine may be considered as a sports car . It does n't cost more to insure Mustang .


Input: What Home Insurance Coverage Do I Need?

Output: That would depend on many factors . The price of the home , your personal property in the home , and your geographic location just to name a few things . All of these are going to play a role in the coverage that are offered . The company that you chose will also play a major role in the types of coverage that is offered . Please contact a local agent , they are going to be able to help direct you to the coverages that will best suit your needs . If one company does not offer the coverage you are looking for try another .


Input: What Is The Face Value Of A Whole Life Insurance Policy?

Output: The face value of a Whole Life insurance policy is the amount of coverage that was purchased . It differs from the cash value , which is the amount of cash that has built up inside the policy . If the policy is surrendered , the cash value -LRB- minus any fees -RRB- would be collected . If death occurred , the face amount -LRB- adjusted by loans , fees , dividends , etc -RRB- would be collected .


Input: What Is The Face Value Of A Whole Life Insurance Policy?

Output: The face value of a whole life insurance policy is the initial death benefit written into the contract . This amount can be increased over the years if dividends are left to accumulate or purchase more coverage . The amount could decrease if you borrow the guaranteed cash value -LRB- or dividends -RRB- while you own the policy .


Input: Who Should Buy Roth IRA?

Output: Anyone who wishes to save money for retirement should consider a Roth IRA . This is particularly true if you are currently in a rather low income tax bracket . The key is that the deposits are made with after tax dollars and the money withdrawn is not taxed at all , unless it is withdrawn before age 59 and a half . Many people will not move to a lower income tax bracket when they retire and a Roth IRA is ideal for that situation . There are other advantages to a Roth IRA . To find out if you should by a Roth IRA , just take a picture of yourself and go to the internet where you can have the picture morphed to age 65 . When you have that picture , ask the picture if you should buy a Roth IRA . You are never too young to begin saving for retirement because you might spend almost half of your life retired . If you are working for a company that offers a retirement program , that is the first place to look . What you are looking for is the maximum amount that your employer will match of your contributions and what you must do to get those matching funds . This is free money and is the best place to save money regardless of other difficulties you might see with the plan . At the same time check the vesting schedule to see if you will be able to actually receive those benefits depending upon how long you reasonably expect to work for the company . Since your company controls all the investments that your retirement plan might have , you might want to think twice before contributing more than the amount required to get the maximum matching funds . It is worth noting that the company sponsored plan is probably covered under ERISA and that gives you some guarantees you can not get elsewhere . The whole financial world is out looking for additional contributions that you might want to make to your retirement . This is where you need to make a decision about a Roth IRA . My first advice is to get a planner with whom you are comfortable . Some planners dont listen well and you really want one that will listen to your dreams and aspirations . The planner you want will communicate clearly with you and with any companies that help manage your money . It will be his job to match your dreams to your abilities to provide for those dreams . If your planner constantly boasts about his advice and returns on investment , look for the exit . High returns on investments often go hand in hand with disastrous results . The fundamental thing to remember about retirement planning is that return on investment is not the key issue . The key issue is shifting consumption . When you move capital to your future you accomplish your mission . Fundamentally , saving for retirement is consuming less now so you can consume more lately . The return on investment is frosting on the cake . Many who leaned on return on investment found themselves unable to retire in 2008 . That is still burned in many peoples memory . Without stepping into your planners shoes , I would like to point out that you are probably in a lower income tax bracket now than you will be in the future . This makes it important to consider a Roth IRA as your funding vehicle . While not giving you a current tax break it does provide a retirement benefit that can not be obtained elsewheretax free income . There are other significant benefits but being able to drawn down a tax free account is a wonderful option .


Input: Who Qualifies For Medicare A And B?

Output: You may qualify for Medicare Part A and Part B if you have met the requirements of one of the following : 1 -RRB- Age 65 , you or your spouse have paid FICA taxes at least 10 years , and you are a citizen or permanent resident of the United States , 2 -RRB- You are under age 65 and have received Social Security Disability benefits for 2 years , or 3 -RRB- You have qualified End Stage Renal Disease . To obtain full details about each of these , call Social Security Medicare at 1-800-MEDICARE -LRB- 1-800-633-4227 -RRB-


Input: Is Medicare The Same In Every State?

Output: Original Medicare is identical in every state and within the state . The same is true for Medicare supplement plans -LRB- Medigap -RRB- . Every Medigap plan with the same letter -LRB- plan F for example -RRB- is identical in every way to all other plan F 's . Medicare Advantage will vary by state and within the state .


Input: What Would Be Considered A Disadvantage Of Owning A Fixed Annuity?

Output: The major disadvantages of a fixed annuity are : the accumulation is set at a fixed interest rate and does not always keep pace with changes in the market . The owner of the annuity doesnt have any control over the investments that underlie the annuity . When the annuity is converted to lifetime income all control over the value of the annuity is released . These can be seen as disadvantages or advantages depending upon the need of the consumer .


Input: What Would Be Considered A Disadvantage Of Owning A Fixed Annuity?

Output: That is a great question ! There are two things that could be seen as disadvantages to having a fixed rate annuity . One is inherent in all annuities , and that is the fact that the money is untouchable for several years , without paying penalties to withdraw it . If you change your mind , or feel that it was n't a good investment , it can be difficult to change without taking a hit financially . Annuities are a bad investment vehicle if you have liquidity issues . The second is that if your 're not receiving a rate that will outpace inflation and cover fees , you can actually lose money . If the guaranteed rate say , is 2 % , but the fees are 1 % and inflation is 1.5 % , you are actually losing money . The same could be said if the money invested in the annuity could have brought a higher return invested elsewhere . It 's important to really have a good advisor when looking at annuities , especially fixed ones , to ensure you get the best return possible . Thank you for asking !


Input: Does Life Insurance Improve Your Credit Score?

Output: Life insurance has no impact on credit score as there is no relationship between the two . A credit score is a measure of your financial health . Life insurance makes sure that what you want to happen will happen , even if you are not here .


Input: Does Life Insurance Improve Your Credit Score?

Output: Some life insurance companies allow you to pay regular premiums automatically , by credit card . MSN Money states that setting up automatic payments on a credit card is one way to raise your credit score . So in that respect , and that respect only , purchasing life insurance could improve your credit score . Read here for more info : WEBSITELINK


Input: Does Life Insurance Improve Your Credit Score?

Output: Life insurance is not reported on credit reports , but if you pay your monthly life insurance premium with a credit card , it will show up on credit reports . As with other bills that are paid on time by credit card , paying your life insurance premium consistently and on time can improve your credit score .


Input: Does Life Insurance Improve Your Credit Score?

Output: There are no additional brownie points for purchasing life insurance to enhance your credit score . On the other hand , your credit score could affect the premium youll pay for your life insurance . Its important to disclose , a less the stellar credit score , to youre an independent life insurance agent . Most seasoned , independent life insurance agents know who the benevolent insurance companies are based on your credit score .


Input: Why Does Life Insurance Cost So Much In Utah?

Output: The cost of life insurance from state to state is relatively the same . with the exception of a few states like New York , there should n't be a any difference in the price tag . To confirm this , go online to a brokerage web site that carries all the major life insurance companies and sorts them by states . You 'll find little difference in the premium .


Input: Why Does Life Insurance Cost So Much In Utah?

Output: If you find that life insurance premiums are high in Utah , it may be that you are beyond middle aged , getting a longer term or permanent policy , smoke , or have a health condition . The rates quoted on TV and radio are for very healthy , younger nonsmokers with the premium guaranteed to stay that low for a very short period of time . You change any of those factors , and the premium will be higher , not just in Utah , but every other state , However , an agency that sells many choices can help find an affordable life insurance policy for you .


Input: Why Does Life Insurance Cost So Much In Utah?

Output: As stated above premiums for same type and coverage for the same individual for life insurance are very similar throughout the States . So the question really becomes , `` Why are premiums for life insurance as much as they are ? '' Factors that influence the premiums include age and health of the insured , the amount of benefit being purchased , and the kind or variety of life insurance being purchased . There are at least 10 different kinds of life insurance . Typically people think of the two basic `` genres '' of life insurance : Term and Permanent . But there are a variety of policy types within those categories . If you think about it , Life Insurance is a terrific value for the money paid in ! Of course in the case of Term only the beneficiary receives the value or benefit , and that only in the case the insured dies before the term is up . In the case of Whole Life Insurance the insured can benefit greatly while alive and the beneficiary may also benefit in a significant way upon the death of the insured . Again , think of the amount of benefit versus the amount paid in .


Input: How Can Life Insurance Companies Tell If You Are A Smoker?

Output: Life insurance companies can tell if you are a smoker by testing blood and urine , by asking about tobacco use on the application , sometimes by doing a phone interview , and sometimes by looking at medical records . The insurance companies ca n't always tell , but it is surprising how many people get caught using tobacco when they think they wo n't . And once that trust is broken between what was stated and what is true , the underwriters do n't give you much benefit of the doubt for anything else .


Input: Will Medicare Pay For A Lift Chair?

Output: Medicare Part B covers some DME -LRB- durable medical equipment -RRB- including wheelchairs , walkers , hospital beds and lift chairs . The need for a mobility assist device must be documented by your doctor and a prescription must be written . You must be diagnosed with some form of muscular or joint disorder of the knees or hips . The Medicare allowance usually is limited to $ 300 .


Input: Which Drugs Are Covered By Medicare Part B?

Output: Most drugs are covered under Medicare Part D. Part D is a private insurance plan you purchase from an insurance carrier . There may be more than 40 different plans in your area . You should review the total costs of each plan and compare formulary 's . Drugs administered in your doctor 's office , in a hospital or clinic , are usually covered by Medicare Part B. Most are infusion therapy drugs , such as those used as part of a chemotherapy routine .


Input: Is It Illegal To Buy Life Insurance On Someone Else?

Output: As long as you have the consent of the individual and there is insurable interest you can purchase insurance on another party . A family member such as brother sister , spouse child , parent or grandparent . A business partner . An insurable interest means that you may have the potential for financial loss should that person die .


Input: Is It Illegal To Buy Life Insurance On Someone Else?

Output: Life insurance purchasers are required to have an insurable interest in the life of the insured . Insurable interest generally must exist at policy inception . The underlying principle is that a purchaser must have a reasonable expectation of profit or benefit from the continued life of the insured . You have no limit on insuring your own life so you can name anyone as the beneficiary of your own policy . When you take out a policy on the life of another , there are limits : 1 . Family members related by blood or marriage have an insurable interest in each other e.g. Parent/child and child by adoption , siblings , spouse , grandparents/grandchildren , and in some states , engaged couples . There is generally no insurable interest in nieces/nephews , cousins , aunts/uncles , other relative by marriage or stepparents/stepchildren . 2 . Creditors have insurable interest in a debtor to the extent of the debt . 3 . Business relationships which give rise to a financial dependency : an employee can insure an employer or vise versa . Partners can insured each other . Key employees can be insured by their employer . So , for example , two cousins who would otherwise not have an insurable interest , jointly own a business and therefore have an insurable interest in the other . The life insured always needs to consent with their signature and would need to consent by signature to the release and use of their medical information in the underwriting process for underwritten policies .


Input: How Much Is Life Insurance For An 80 Year Old?

Output: If purchasing a Whole Life policy of $ 10,000 that does not require an exam , an 80 year old with controlled health can pay about $ 150/month . If there are some health conditions that will cause the policy to be graded , the price will be higher . If purchasing a larger permanent policy that requires an exam , the minimum price for $ 100,000 would be about $ 400/month and go up from there .


Input: When To Surrender A Life Insurance Policy?

Output: When considering the surrender of a life insurance policy you have to ask yourself some questions . Does anyone I care about suffer without this life insurance policy ? Who needs my income ? Who would be responsible for my debt ? I am wealthy enough to be sure my loved ones are taken care of financially ? If you find that there is no longer that need for life insurance , then it is time to surrender the policy . Remember the increase incash value that accumulated is now taxable as income upon surrender .


Input: When To Surrender A Life Insurance Policy?

Output: Surrendering a life insurance policy requires careful consideration . The termination of coverage should never occur when you have family members , business partners dependent on your economic value and charities who depend on your contributions . Always have continuing coverage . Keep in mind that surrendering cash value life insurance with gain in the contract will trigger an ordinary income tax event and if you 're receiving Social Security benefits , they may be be taxed as well .


Input: What Are Riders In Life Insurance?

Output: Most life insurance riders have an additional cost , and by adding a rider onto a basic life insurance policy , you can customize the policy to better suit your needs . Some riders are very affordable . E.g. . A $ 10,000 child rider will cover all the children in the family for approx $ 75 per year . Another low cost rider is an accidental death rider , which will cause the policy to pay double if death is due to accident . Some more costly riders are Disability Income riders , which essentially act as Disability Insurance policy tacked onto your Life Insurance ; or a Return of Premium rider that will enable a Term policy to return all your premiums if you are alive at the end of the term . Some riders are included in the base price . Many companies offer an accelerated death benefit in case of terminal illness at no extra cost . Some include living benefits , such as being able to use the death benefit while still alive if diagnosed with a chronic or critical illness .


Input: What Are Riders In Life Insurance?

Output: Many Insurance companies offer what is called a base policy -LRB- the policy you originally buy such as a whole life policy -RRB- and to that base policy they offer additional coverages in the form of riders . You can get different types of riders such as ; term riders which can offer additionaldeath benefitcoverage on the base policy ; paid up addition riders which can offer amounts of paid up coverage ; waiver of premium which will pay the premiums should the insured become unable to make the payments . There are a lot of different types of riders you can purchase to make your base policy even better .


Input: What Are Riders In Life Insurance?

Output: Carriers offer life insurance coverage in exchange for a premium . On top of it 's main structure , carriers may offer extra benefits to add to it known as riders.Carriers may charge an additional fee added to the premium when certain riders are added to a policy.Not every carrier will offer every rider on each policy . The most common riders people add to their life insurance policies are : 1 -RRB- Term Insurance Rider 2 -RRB- Accelerated Death Benefit Rider 3 -RRB- Disability Waiver of Premium Rider 4 -RRB- Long-Term Care Rider 5 -RRB- Accidental Death Benefit Rider 6 -RRB- Guaranteed Insurability Option Rider 7 -RRB- Disability Income Rider


Input: What Should I Pay For Homeowners Insurance?

Output: This is a very hard questions to answer since each carrier from the next can vary so much . I have seen between different carriers as much as $ 1,000 difference for the same coverage . A classic example I will give one of my carriers that is a mutual carriers was only $ 1,000 a year with a $ 500 deductible based on a value of the home at $ 200,000 but the other national carrier was $ 1,400 with a $ 1,000 deductible based off of the same value . Also you have to consider are they rating the home with replacement cost or actual cash value both can make a HUGE difference in the rating factor . There are several ways carriers base rates not only the value of the home but what is your home built from is it a log home or stick frame home . Are you in a fire area or how far are you away from fire department . The best thing you can do is shop with a independent agent they can rate it with many carriers . Also Bundling is not always the route either many time the home can be an excellent rate but the autos are high even with the discount of having both policies with the same carrier . Example I have found in our agency is that I have a carrier that gives you a discount on your auto because you own a home but the home rate is outrageous but then I have a different carrier for the home that does n't sell auto insurance but they give you a discount on the home if you insure the auto in the same agency and the rate is much lower then if you placed them with the same carrier all in one package . the key is talk to an agent who can compare rates with many carriers and make sure your home is valued correctly .


Input: Where Can I Get A Free Car Insurance Quote?

Output: Great question ! You can get free quotes from any legitimate agent or company . Take internet quotes with a grain of salt , as they will give you `` best case '' prices every time , and often when the agent gets your complete information , the actual cost is much higher . I recommend that you look for an independent agent -LRB- one not tied to a brand name company -RRB- who can give you several companies to look at , or spend the time and visit a couple of agents from brand name companies . If you need help , please feel free to contact me . Thanks for asking !


Input: Where Can I Get A Free Car Insurance Quote?

Output: The best place to get a free car insurance quote is from an experienced broker -LRB- 20 year of experience , or more -RRB- and their reputable website . Why ? Because that 's our job and we do it well ! Customers can quickly get free quotes online from the top-rated companies in minutes . The rates they view will be the lowest available prices and you pay no fees when utilizing a broker . Whether you have current coverage or need it quickly , our job is to help you , and that 's exactly what happens !


Input: Where Can I Get A Free Car Insurance Quote?

Output: All quotes are free ! no matter who quotes you for insurance or doing it online . No carrier or agent should charge just to quote you . If this has happened to you then most likely the were not legitimate . If this has happento you need to contact your state insurance commissioner and report them .


Input: Why Did Employers Start Offering Health Insurance?

Output: That is a great question ! Employers reached a point where just offering a decent wage was often not enough to attract and keep a good workforce . Employees would leave for whatever job paid more . So employers added benefits to go along with the wages , in an effort to sweeten the pot . Paid vacations , and health insurance were no - brainers - if you are rested , happy and healthy , you will work better , and hopefully stay working longer . Good health insurance is still a major draw for many employees , especially those with kids . Thanks for asking !


Input: What Is CYD Health Insurance?

Output: CYD typically means Calendar Year Deductible . This refers to the deductible amounts you can choose if you obtain your coverage by choosing a bronze plan , a silver plan , a Platinum plan , or a Gold plan . Deductible amounts have typically been used to hold the cost of health insurance within the budget constraints of the purchaser . You will be wise to compare the coverage you can obtain through the ACA with calling some of the primary carriers that will still be issuing health ionsurance plans after the end of 2013


Input: Is My Long Term Care Insurance Tax Deductible?

Output: If you have a qualified long term care Insurance plan , your long term care insurance is tax deductible . There is a limit on the dollar amount of premiums that are considered tax qualified , per Internal Revenue Code 213 -LRB- d -RRB- . For 2013 , there limits range from $ 360/year -LRB- under age 40 -RRB- to $ 4,550 -LRB- over age 70 -RRB- .


Input: What Determines Life Insurance Rates?

Output: Actuaries are people who study statistics . They can track the life expectance of a 35 year old male , living on the shady side of the street , who has red hair and is over 6 feet tall . However , what the actually do is develop statistics that show the life expectancy of a 35 year old male who is average or standard . They also develop statistics that show the effect of varying levels of hypertension or obesity and from this information they develop substandard rates . The process of underwriting is to see if you fit into a standard mold , substandard mold or a preferred mold . Of course you might not qualify for any mold at all .


Input: What Determines Life Insurance Rates?

Output: That is an excellent question ! There are a lot of things that determine your cost for the policy . The biggest are your gender , age , smoking preference , and health status . Add to that the size of the policy desired , your medical history and prescription history ; where you live and what you do for a living ; your family medical history ; and the company 's costs , overhead , and profit taking . Then picture your policy like a fitted jacket . It will fit you , but not anyone else . Your rate is like that - there are very few `` one size fits all '' rate plans out there -LRB- and I 'd personally probably stay away from any one of them that I found ... -RRB- . A good independent agent -LRB- one not tied to a specific brand name -RRB- can help you with several quotes to find the policy that fits you best . Thank you for asking !


Input: What Is A Health Insurance Rate?

Output: A health insurance rate is the total amount in dollars that an insurance company would charge you on a monthly basis for a particular set of health benefits . For example , it could be $ 175 or $ 400 per month , the number is a function of several factors but it simply translates the annual estimated cost & risk for providing health services and taking on the risk of future health problems or accidents you might have and gives you that figure on a monthly basis . In the era of government health insurance marketplaces and the role of advanced premium tax subsidies in helping persons purchase individual health insurance , be advised that depending upon you and your family 's income level you could qualify for a subsidy of your monthly premium costs and in some cases also qualify for reduced deductible and out-of-pocket expense exposure . If you are in this income range -LRB- and no small number of Americans fall somewhere within the subsidy income ranges -RRB- then the monthly premium most prominently displayed is the reduced premium you pay each month after your subsidy payment had been applied . In this context you are not paying the full premium for your health insurance and are being subsidized for some , in some cases all , amount of the true total premium cost of your health insurance plan . You will also want to look at your cost of insurance before any subsidy was applied so that this consumer understands the true total cost of the plan they selected .


Input: What Do Life Insurance Policies Cover?

Output: Life insurance covers the insured of the policy generally to indemnify the beneficiaries i.e. family members or business partner interests . The owner of the policy may also be the insured . But whoever owns the policy , controls the policy . And that means the policy owner could change the beneficiaries without their permission .


Input: What Do Life Insurance Policies Cover?

Output: Life insurance covers the life insured in the policy , paying a death benefit when that person dies to a beneficiary named in the policy . Life insurance offers protection , income replacement , and the chance to leave a legacy . With life insurance , you are protecting the people you care about the most by ensuring money will be available . Life insurance can also protect the business you own .


Input: What Do Life Insurance Policies Cover?

Output: Life insurance policies cover death due to illness , accident , old age or any other reason -LRB- except suicide during the first two years -RRB- . When you apply for life insurance , they ask questions about pre-exsiting conditions , and as long as you acknowledged them if asked , your policy will cover death due to those conditions . It also covers death due conditions that did not exist when you applied .


Input: Can I Buy Life Insurance Without A Social Security Number?

Output: I am not aware of any insurance carrier that will write life insurance without a social security number . All most all want proof of citizenship and they want to know the beneficiaries social security numbers as well . Our government does keep track of money even though life insurance proceeds are not taxable as income .


Input: Can I Buy Life Insurance Without A Social Security Number?

Output: Yes as I know all insurance carriers require a social security number . It is one of the questions asked on insurance applications . You might in addition what to check with your agent in which states you are writing the application with to ensure if this is needed . You can also check with your department of insurance of the state you reside in as well if you have additional concerns .


Input: Do You Need Insurance On A Mobile Home?

Output: If you are not financing the mobile home or the local homeowners association or mobile home park do n't require it , nope , you do n't need it . But if you do n't want to pay out of pocket for damage or destruction to your home and your personal belongings , do n't want to haved to pay for you own defense when someone sues you for accidental injury , then yes , you do need it . So it becomes a question of what do you want .


Input: How Is Medicare Part C Financed?

Output: Like original Medicare ultimately is financed through your taxes . Medicare pays private insurance companies a set amount per enrollee to administer the claims . The company can then take that money and develope their plan whithin guidelines set by Medicare . If the company is able to provide the benefits with the money provided by Medicare , then you may not have to pay an additional premium other than your normal Medicare Part B premium . If the benefits are more than Medicare allowance allows for then some plans charge an extra premium in addition to what Medicare provides . This is where the danger comes in when you hear about Medicare cutting funds to Medicare Advantage . Right now there are some very good zero premium plans available . These may be forced to go away if cuts are allowed to continue .


Input: Can I Cash Out My Whole Life Insurance Policy?

Output: Yes , you can cash out your whole life insurance policy . Doing so is called surrendering it , and it will give you the cash but leave you without that coverage . You could also borrow from the cash value in your own policy . Borrowing from your policy per the established protocol enables you to use the cash in the policy but still keep the death protection intact .


Input: Can I Cash Out My Whole Life Insurance Policy?

Output: Your whole life insurance policy has a table that lists the surrender value of the policy . You can cash out your policy for that amount whenever you wish . Contact the agent or the company and they will supply you with any forms that might be required . You might want to consider other options but that would be best discussed with your agent .


Input: Can I Cash Out My Whole Life Insurance Policy?

Output: That is a great question ! A better one might be why do you want to ? If you do , your policy ends , and you have no more coverage . If you have a policy through work , and are thinking of dropping this one , remember that if you leave work , most likely your coverage again ends . Life insurance costs are based upon your health and age when purchasing . So if you have had this policy for a long while , you can expect that replacing it will cost you considerably more . That said , if you are looking for some quick cash , perhaps keeping the policy and borrowing from it instead would make more sense . Your policy would still cover you , and would pay out the face value minus loan and interest amounts were something bad to happen to you in the mean time . If your heart is set on cashing it out , contact your agent , and tell them that you want to `` surrender '' the policy . They 'll get a check to you shortly . Thanks for asking !


Input: How Can I Get Cheap Health Insurance?

Output: Cheap health insurance coverage is available from many of the most reputable companies . You can easily compare and apply for affordable individual and family plans from reputable websites from experienced brokers . Typically , you provide some basic information and you can quickly -LRB- and some times instantly -RRB- view the cheapest policies in your area . Blue Cross , Aetna , UnitedHealthcare and Humana are among the largest carriers , but often smaller regional companies offer attractive options . Once you view the best online health insurance rates , you can apply for coverage in a many different ways . You will not have to answer any medical questions once State Exchanges are operational and a broker is often available , or you can apply direct .


Input: Does Home Insurance Cover Riots?

Output: Yes civil disorder is one of the perils most policies will cover . If your home is damaged or destroyed in a riot or civil unrest it will be repaired or replaced along with any personal property damaged or destroyed . Homeowners Insurance also covers vandalism if your home is damaged by vandals .


Input: What Does Per Stirpes Mean In Life Insurance?

Output: Per stirpes is a legal way of designating life insurance beneficiaries . It means `` by branch '' in Latin . Using that term will pass the death benefit onto your beneficiary 's descendants , if the named beneficiary had predeceased the insured person . Otherwise , the death benefit would be split up among the remaining beneficiaries . E.g. . If you have designated your three grown daughters as primary beneficiaries , and you want the death benefit to go to your daughters ' children if any of your daughters are deceased at the time the policy pays out , you would state the Primary beneficiary as `` All children , equally , per stirpes .


Input: How Is Disability Insurance Calculated?

Output: Disability Insurance is calculated by the salary you make while in your current employment . You take out enough coverage to replace a percent of your income if you were to become disabled . If you are able to get a future increase option , your policy will increase as your income increases over the years .


Input: How Is Disability Insurance Calculated?

Output: Disability insurance is a morbidity product that is priced on the average events that cause workers to be unable to perform their duties . But the averages ca n't account for personal medical items , so disability premiums are price on gender , age , smoking status , health history and current medical conditions . The design of the policy also has an impact via the elimination period , the length of coverage , the amount of coverage and ancillary riders like inflation or COLI riders .


Input: What Is Covered Under Long Term Care Insurance?

Output: Long Term Care Insurance generally covers skilled nursing care , intermediate care , custodial care , and home health care . The services and items that are covered are administration of medication , changing surgical dressings , therapy , general rehab , custodial care , meals , and other services provided by social workers , nurses , respite workers , live in caregivers , companions , and housekeepers . Sometimes LTC insurance will pay for training for caregivers , modifications to the home -LRB- such as wheelchair ramp -RRB- , transportation to adult day care , and other related items and services .


Input: Does Medicare Part B Cover DME?

Output: Yes , Medicare Part B covers durable medical equipment -LRB- DME -RRB- . This includes wheelchairs , nebulizers , blood glucose monitors , hospital style beds and more . For them to cover it , you need a valid prescription from the doctor which includes your name , date of birth , address , the type of DME that you need , the duration of time you will need it for , and a diagnosis code for the condition it is treating . With that prescription , any medical supply store that is contracted with Medicare will be able to provide the equipment .


Input: What Is The Average Cost Of Long Term Care Insurance?

Output: Like all morbidity products , the price tag you 'll pay in premiums depends on your age , gender , smoking status , health history and current medical condition . It also has policy factors like additional riders such as inflation protection . An example a monthly premium fora typical 60 year old male non smoker with full coverage , that includes inflation is around $ 300 a month .


Input: Is Disability Insurance Deductible On Taxes?

Output: Is disability insurance deductible for taxes ? Depends on your situation . If you are an employee who has their disability coverage through a payroll deduction program , it can be deducted for taxes through their payroll plan . Self employed individuals can also deduct disability insurance from their taxes . Please note , in either case when you deduct premium , the benefit becomes taxable income .


Input: Is A Disability Insurance Payment Taxable?

Output: Disability insurance you purchase without the financial contribution of your employer towards the premium expense of individual disability insurance will generally be free of income taxation . This tax treatment results from the circumstances . First , the money used to pay premiums are `` after-tax '' dollars . In other words , you already paid tax on the money used to pay the disability premiums when it was earned as income . Second , neither an employer or business will take a deduction on their tax returns for the payments made to provide the insurance to you . These two things make the income earned under a personal , individual disability policy free of income tax on the benefits . As a general rule , if a business pays for the a portion of the premium the benefit is probably taxable to some extent even when you contribute . The amount of the benefit that is taxable will be determined by the ratio of the total premium paid , compared against the premium amounts paid by the business and the individual . If the benefit is payable to a business the income is probably taxable . Corporate -LRB- or business -RRB- owned disability insurance can be designed to provide income or overhead expense protection . Overhead expense protection permits the deduction of cost on tax forms but the income is taxable . There is also the possibility that disability income coverage is used in a buy-sell agreement . When the benefit is paid to a business , as a general rule , the benefit is taxable . As in most instances , this general answer can not begin to address the variety of complicating circumstances so specific answers are best for specific situations .


Input: Is A Disability Insurance Payment Taxable?

Output: In most cases the disability premium is not being deducted as a business expense , so the benefits that are generated by the policy to the claimant are tax free . However , in some business scenarios , disability insurance is expensed as an executive benefit . Then policy benefits are taxed as ordinary income at the effective tax bracket rate -LRB- in this case -RRB- of the executive .


Input: What Is The Major Advantage Of Term Life Insurance?

Output: When you think of term insurance , think of temporary . A term policy can provide the maximum amount of coverage for the least premium for a short period of time . That means that if you were to die prematurely those that you love would have money to ease the pain and economic loss that they would experience . When it expires it does so without any value .


Input: What Is The Major Advantage Of Term Life Insurance?

Output: The major advantage of term Life Insurance is that you can obtain the coverage you may need at a lower expense when compared to permanent plans . This is in part because the risk to the insurer is not as great and because Term coverage does not include a lot of the long term benefits that permanent polices have such as tax deferred cash accumulation .


Input: What Is The Major Advantage Of Term Life Insurance?

Output: That is an excellent question ! There are a couple of advantages to owning a term policy over a whole life policy . The first , and most obvious , is the lower cost . As a rule , the companies rarely have to pay off on these , so they are cheaper . The second is that you can use them to cover for specific needs , for a specific time period , and be done with them . For example , I can take out a 5 year term policy to cover the cost of my child 's college expenses , and in 5 years when I no longer need it , it has ended . There are some drawbacks to these policies also , so please be sure to consult with an agent to be sure that this is the type of policy that will best suit your need , okay ? Thanks for asking !


Input: What Is The Major Advantage Of Term Life Insurance?

Output: The major advantage of term insurance is you 're getting more `` bang for your buck '' so-to-speak - meaning the rate per $ 1,000 of coverage that you 're paying is much less than permanent coverage , however , the trade-off is that you only get to pay that rate for a short amount of time -LRB- 10 , 15 , 20 , 25 , or 30 years -RRB- whereas your rates can be locked in for life with a permanent insurance policy . Once the initial period of premium guarantee expires , the policy changes to either annual renewable term insurance with premiums increasing each year -LRB- based on age -RRB- or the premiums remain the same and the death benefit decreases each year -LRB- this structure can be seen on term insurance that is featured on a universal life chassis -RRB- . There is no cash value build-up in term insurance . Permanent life insurance is designed to provide coverage for the rest of the insured 's life and build cash value . Under a guaranteed universal life -LRB- GUL -RRB- program , the policy can be structured to keep premiums level and provide coverage up to a specified age -LRB- e.g. to age 90 , to age 100 , or even up to age 121 -RRB- under the `` dial down '' process . Whole life features level premiums and death benefits and builds cash value at a faster rate -LRB- participating WL policies may pay dividends that can be used to increase the death benefit or decrease the premiums over time - non-participating WL policies do not feature this ability -RRB- - the trade off between this and guaranteed universal life is that to increase the cash value faster , the premiums will generally be substantially higher . For both GUL and WL , the carrier takes back the cash value upon the death of the insured , and pays out the death benefit proceeds . Therefore , GUL policies allow you to maximize your death benefit and minimize your premium dollars that you pay for the coverage . I highly recommend consulting with an experienced life insurance broker to review your specific situation and help determine what life insurance will be most suitable to meet your needs and budget , review quotes , and help you through the application and underwriting processes . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: What Is The Major Advantage Of Term Life Insurance?

Output: The major advantage of Term Life Insurance is it 's low cost per thousand dollars of coverage . Of course , this price goes up drastically when the term ends , so that is only an advantage if you no longer need the policy after the term expires . Another advantage of Term insurance is that it usually does ensure that you are insurable the rest of your life . If you get a policy that can be converted to permanent insurance for a number of years after the policy was issued , you can change it to Whole or Universal Life with no health questions asked . The price will be high , because it is permanent insurance and will be issued at the older age you are when you do the conversion . But that still is a major advantage , if you would happen to be diagnosed with a serious illness and are unable to get a new policy .


Input: What Is The Major Advantage Of Term Life Insurance?

Output: The major advantage of term life insurance is initial cost . With term life insurance you can get the most life insurance coverage today for your premium dollar . Since life insurance 's primary purpose is to create cash at death , that is important . Term insurance typical starts low and the renews for a higher premium at the end of a term -LRB- 10 or 20 years for example -RRB- and that continues until the policy 's expiry date . The renewal rates can be quite large in later years , which is why term insurance is suited for short term needs . Term policies typically include the ability to convert to a level premium permanent policy before a stated date . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: What Type Of Retirement Plan Is A Pension?

Output: A pension is a retirement plan that is driven by the benefit it will pay to participants in the plan . This is known as a defined benefit plan . What this means is , each member of the pension is entitled to a benefit that is calculated based on a chosen number of factors pertinent to that individual . For most plans such variables include salary and time of service . The alternative to a defined benefit plan is a defined contribution plan , where no explicit benefit is made or guaranteed , and instead the plan is defined by the contributions that are made either by the participant -LRB- employee -RRB- or the participant 's employer .


Input: Why Do Life Insurance Rates Vary?

Output: The main reason life insurance rates vary is solely due to risk . There are many risk factors that life insurance company underwriters look at . A persons age , build , life style , health status , financial status , genes and location all determine the risk of death . The reason rates vary from company to company are they all have their own internal risk factors and some tolerate different types of risk better than others .


Input: Why Do Life Insurance Rates Vary?

Output: Life insurance rates vary for several reasons . One reason is the age and risk of the person being insured . An older person with poor health will most likely die sooner than a younger , healthier person . Life insurance companies need to bring in enough premiums to pay claims , so they try to be fair by charging more to persons with higher risk than to those with lower risk . That way the strength of the company and the security of each policy is ensured . Another reason that life insurance rates vary is because life insurance policies vary . E.g. a 10 year term policy will jump way up in price in 10 years . A permanent policy may keep the same premium for life . Finally , some policy rates vary because life insurance companies specialize in different types of policies and risks . Some are more competitive with some types of policies than others .


Input: Why Do Life Insurance Rates Vary?

Output: Great question ! There are a lot of reasons why the rates vary . Some of the biggest are your age , your health , and whether or not you smoke . Someone who is older , smokes a pack a day , and has high blood pressure and diabetes will pay a higher rate than the same person who does n't smoke . Someone younger and healthier will pay much less than these older folks will . Different companies will charge more or less than another as a result of their profit margins and financial needs . Different types of policies cost differently also . I 'd recommend that you look for an agent that will help you find a policy that fits your needs and budget . If you have more questions , please contact me , I 'm happy to help . Thanks for asking !


Input: Does A Fixed Annuity Have A Death Benefit?

Output: That is a great question ! The answer depends upon the annuity itself , and how you structured it . -LRB- Or will structure it , if you are thinking of buying one -RRB- Some annuities will be structured to pay out up to your death , and then cease payments . Whatever was left in that fund reverts back to the insurance company . Others will then make payments to your surviving spouse , and cease when they pass . You can also have one where the funds pass to a beneficiary , either in a lump sum , or in payments . There are a lot of options , and some will cost you extra . Please check with your advisor , or agent , and determine what is best for you . Thanks for asking !


Input: Does A Fixed Annuity Have A Death Benefit?

Output: Annuities MAY pay out to a beneficiary under certain circumstances , but they do not have a `` death benefit '' in the sense that life insurance does . While life insurance is designed to pay a guaranteed benefit to the beneficiary upon the death of the insured , an annuity - fixed or variable - only pay what is remaining according to the structure of the annuity to the beneficiary upon the death of the annuitant . So if the annuity is designated `` Life Certain '' , payments end at the death of the annuitant and there is no beneficiary . If the annuity is designed as a `` Period Certain '' and the annuitant dies before the `` Period '' ends then the beneficiary will receive the remaining payments up to the end of the ` period ' .


Input: Does A Fixed Annuity Have A Death Benefit?

Output: During the accumulation phase all annuities provide a death benefit to the designated beneficiary . This is why it is very important to keep the beneficiary designations up to date . Once the annuity has started paying a monthly benefit there could be benefits to a second party depending upon the option selected by the owner . For example , many select a joint benefit with their spouse . In those cases the annuity would pay the full amount until the death of the first spouse and an adjusted amount during the balance of the life of the second spouse .


Input: Does Disability Insurance Cover Dementia?

Output: A diagnosis of Dementia should be covered as an illness under a short or long term disability plan if it was in force prior to dianosis . The elimination period would not begin until the dementia was deemed by a physician to be to the point that your normal duties of your job could no longer be performed . Typically dementia progresses slowly in younger adults still working . Most disability policies end around age 65 or 67 years old when this disease is more likely to progress .


Input: Does Disability Insurance Cover Dementia?

Output: The answer , generally , is `` yes '' , private or employer provided disability insurance covers a dementia situation . Of course , the insured person must have coverage inforce at the time of claim , and must satisfy the definition of disability that is in the policy you own . Unless there is a specific exclusion for this condition , then it should be covered . One last item to note , some `` disability insurance '' policies may cover accidents or injuries only , and will not cover an illness -LRB- which dementia is usually classified -RRB- . Best to call your agent or broker for more clarity on this .


Input: How Long Is Term Life Insurance Good For?

Output: Term life insurance is in force for the contractual guaranteed period . Most term life insurance can be purchased in five year increments like 5 , 10 , 15 , 20 and 30 years . There are a few term life insurance companies the offer a customization option like 17 years instead of the traditional 15 or 20 year guaranteed periods .


Input: How Long Is Term Life Insurance Good For?

Output: Term life insurance will usually provide coverage as long as premiums are being paid . Most Term policies are annually renewable after the years of the term end . The prices are very high , but if you choose to pay them , you will still have coverage . If your policy does not offer that provision , your policy will end when the years of the term have passed . E.g. . If you took out a 20 year Term policy , it will end when the 20 years have passed . Again . you must have paid premiums the entire time for the policy to stay in effect .


Input: What Impacts Car Insurance Rates?

Output: I assume you are talking about rate increases . Claims and expenses are the most likely culprits if your auto rate has been increased . There are subtle changes that also can affect your rate such as a shift in boundaries for your rating area , but these are the basic issues that drive rate increases .


Input: What Impacts Car Insurance Rates?

Output: There are a lot of factors that impact auto rates such as Model , Price , Foreign or Domestic , age of driver , driving history and credit score . Also depends on your zip code and what state you are in could make difference . Just check with and independent agent in which ever state you live in to get the best rate and service .


Input: What Is The Cheapest Renters Insurance In Arizona?

Output: Renters Insurance premium rates vary by each and every zip code and also depend on the amount of coverage needed and deductible selected . In order to obtain a rate for your specific needs , you may connect via the following consumer link which will provide an avenue for you to obtain a quote and purchase your policy directly online . WEBSITELINK Any questions regarding coverage should be directed to a licensed insurance professional prior to purchasing your insurance .


Input: What Factors Affect The Cost Of Homeowners Insurance?

Output: The insurance company employs an underwriter who will look to see if the home meets the criteria for a standard risk . Most insurers do not like to insure any home that they dont consider standard . At renewal they are likely to surcharge a residence if there was a recent claim . There are other ways that the premium is affected . The insured could select more extensive coverage , or removal of limitations or exclusions -LRB- water backup is an example . -RRB- The company will usually reduce the premium if the insured selects a higher deductible , or installs a central station alarm system .


Input: How To Apply For My Own Medicare Card?

Output: Great question . Sometimes your Medicare card is mailed to you 3 months before your 65th birthday , if not you can apply at the social security office or website . Once you are Medicare eligible , a broker can help you understand your Medicare , as well as help you explore your options . I hope this helps .


Input: Is 30 Years Enough To Save For Retirement?

Output: Thirty years certainly could be enough to save for retirement . The total amount you need to save in today 's dollars depends largely on what retirement success means to you . Once you have a basic idea , you can determine what is needed to fund your desired lifestyle . Deciding what you want to do 30 years from now is quite difficult so using the `` standard '' 70 % of current income is a good starting point . Once you are within 10-15 years , you should start fine tuning your retirement plan to get things aligned . NOTE : The rule of compound interest 72 interest rate = the number of years it takes for the funds to double . For example 72 10 % = 7.2 . That means at 10 % interest your money doubles every 7.2 years . Therefore , the earlier you start the better . More information on what you ought to know about protecting and growing your Nest Egg can be found at WEBSITELINK If you would like to work with a local Retirement Planner , you could start with a Google search . For example if you search for : retirement planner Halifax or retirement planning Halifax , my name along with several others will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Who Is The Best Auto Insurance Provider?

Output: Because insurance is regulated by each state , there really is not only one answer to that question . Insurance companies are rated online for their financial strength , and customer satisfaction by several independent reporting agencies . My company posts our results on our website here : WEBSITELINK People choose different companies for different reasons , A friendly referral , price , or special features . What is most important to you ?


Input: Can I Get Life Insurance After Breast Cancer?

Output: The short answer is yes , you can buy life insurance after cancer . The type , amount and terms depends on the cancer itselfand how long you have been cancer free after your last treatment . To get into the standard ratings after breast cancer practically all carriers will want to see you cancer free for 10 years . Anything less than10 yearswill be a higher risk policy of either rated premiums or graduated benefits .


Input: Can I Get Life Insurance After Breast Cancer?

Output: Yes , it is possible to get insurance after breast cancer . There are a number of factors an insurance company would consider including : date of diagnosis , type and stage of cancer , size of tumor , type of treatment and date completed , recurrence or spread , reduced risks example smoking , any serious complications from treatment . Typically underwriting can only be done once treatment is completed . Higher grade tumors typically 10 years after last treatment considered with a rating . Best case lower grade tumor standard after 3 years . Typical case 2 years after completion of treatment rated policy . -LRB- extra premiums for increased risk -RRB- . I recommend , especially when you suspect you might be rated for insurance , that you work with an experienced independent insurance broker . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Can I Get Life Insurance After Breast Cancer?

Output: Yes , you can get life insurance after breast cancer , but you 're going to want to shop the case among multiple carriers . Running a `` free quote '' on a website is not going to provide you with much useful information . With a medical history of breast cancer , the risk class carriers will offer is going to vary quite a bit between them . You 're generally going to be looking at a substandard table-rating for coverage and most free quotes only provide rates for up to standard risk classes . The type of cancer , stage of cancer , course of treatment , is treatment completed , how long since the last date of treatment , and any other medical conditions are some of the factors that will go into the underwriting evaluation by each carrier . In general , most carriers will want to wait at least 2-5 years from the date treatment is completed for most cancer histories before they will consider offering any coverage -LRB- varies by carrier and type of cancer -RRB- . Guaranteed-issue whole life policies -LRB- GIWL -RRB- are available as they do not ask health questions and there is no exam . However , these are `` graded '' policies and generally feature a 2-3 year waiting -LRB- graded -RRB- period before providing full coverage -LRB- payment of proceeds when death of the insured occurs by illness or injury -RRB- - if the insured dies under accidental means during the graded period , the policy will still pay the full death benefit . GIWL policies generally feature a maximum face amount of $ 25,000 under a single policy . With this type of medical history , you do NOT want to just go and apply to multiple companies at the same time - this can work against you . I highly , highly recommend consulting with an independent life insurance agent/broker who can shop the case for you .


Input: How To Apply For Car Insurance?

Output: You obviously have access to a computer because you submitted this question . You can get quotes online direct with many carriers . Many independent insurance agencies have quote engines on their websites that will quote your coverage with multiple companies . However , these online solutions tend to be pretty much `` self-service '' . If you are looking more for someone to advise you and walk you through the steps of purchasing car insurance , then you seek out a licensed insurance agent in your are to walk you through the process . The agent will give you expert advice at no additional no charge to you .


Input: Will Medicare Pay For A Hospital Bed In The Home?

Output: Hospital beds are considered durable medical goods and are covered under Medicare Part B . If you can prove that the hospital bed is medically necessary and you have Medicare Part B then the cost of the hospital bed will be covered under medicare .


Input: Why Have Life Insurance?

Output: There are several reasons . The main reason is that it is a protection for your family . If you died today , who would pay your outstanding medical bills ? Who would pay your final expenses ? How will your family be able to continue living where they are now until they can get adjusted to your lost income ? I have seen the power of life insurance in my over 30 years in the business . Life insurance can make a difference of your child going to college , of your wife being forced to work in a low paying job or worse going on welfare . I have seen the face of a young widow with three children when she was given here life insurance check and she realized that they would be able to stay in their home . The reason you buy life insurance is because you love somebody enough that you want to take care of them , even after you are gone ! Another reason is that it can protect your business if you own one . It can help keep key employees .


Input: Why Have Life Insurance?

Output: Are there people in your personal life or business associates that would suffer economically at your demise ? Are you in a high tax bracket and are considering tax advantaged products ? Do you want to make a difference in the lives of your children , grandchildren and charities ? If you answered yes to any of these questions , you need life insurance .


Input: Does Health Insurance Count As Income?

Output: Health insurance is not income . The premiums a person spends on their health insurance may be tax deductible -LRB- for some individuals - e.g. self-employed persons -RRB- . When a claim is made for health insurance , the insurance company usually pays the doctor 's office/hosptial directly for their portion and then the doctor 's office/hospital bills you for any remainder .


Input: Does Health Insurance Count As Income?

Output: Great question ! The only way that it can be considered income is if your employer pays your premium with after tax dollars . Your W2 will show the amount of your share in your wages line , and if so , you can deduct that portion on your Schedule A tax form as a medical expense . If it 's not included , -LRB- and it usually is n't -RRB- your employer has paid with pre-tax dollars , and given you a break on your taxes already . That is the case nearly all of the time . Thanks for asking !


Input: Does United Health Insurance Cover IUD?

Output: UnitedHealthcare , one of the largest health insurers in the United States , covers FDA-approved contraceptive methods . It is believed that IUDs are on that list . The Affordable Care Act provided health insurers to cover qualified and approved contraception methods at 100 % with no waiting period . Manycounselingexpenses that arerelatedto preventive benefits are also covered .


Input: How To Cancel Renters Insurance Policy?

Output: As with any insurance policy , your first call should be to your local agent or the carrier of the policy . Your agent or carrier may request for you to sign a document verifying that you wish to discontinue your insurance coverage with them . If you are changing carriers the agent that you are working with should be able to make your transition between the carriers relatively quick and simple .


Input: How To Cancel Renters Insurance Policy?

Output: Most companies offer toll free telephone numbers . Most of these companies will cancel a policy based upon a telephone call . At the most they will ask for written confirmation . Your trusted insurance agent can help you in this process but it should be relatively pain free . If you are replacing coverage with another company evidence of that new policy might be required to complete the transaction . That is necessary to make sure that there isnt a lapse of coverage .


Input: Is Renters Insurance Optional?

Output: For the vast majority of renters , a renters insurance policy is optional . Some landlords will require that the tenant own a renters insurance policy and name them as an additional insured . It is important to note , however , that as a renter you are responsible for injuries and accidents that happen on the rented property . You are also responsible for damage to the unit and if your property is damaged because of a covered peril , your landlord is not responsible to make you whole . Those are things that a renters policy does .


Input: Can I Get Life Insurance Over 65?

Output: Definitely . I have companies that go to age 85 . The rates you will receive will be dependent on your health . Life insurance is something that your money pays for but it your health that actually buys it . The healthier you are the better the rates and the greater chance of being approved for the larger policies .


Input: Can I Get Life Insurance Over 65?

Output: Yes , there are companies who specifically offer LIfe Insurance products to folks who are 65 and older . The key here , like it is when we are younger , is to first talk to your Insurance Professional and discuss your needs and circumstances . Take time to look for options that best suit your needs and budget , and be absolutely sure that you deal with a companuy that has a track record and is financially sound .


Input: Can I Get Life Insurance Over 65?

Output: There are several life insurance companies that issue to age 90 . Some of these policies have maturity dates as far out as age 121 . There are several health classifications at age 65 and then those categories begin to eliminate the high end preferred nonsmoker classes . Even smoking seniors at age 65 and beyond can apply for life insurance .


Input: When Is An Annuity Appropriate?

Output: Product suitability is a critical component when considering a saving or investment vehicle . Tax deferred annuities are no exception , especially given the fact that they have differing crediting methods : interest rate crediting , index crediting and separate sub accounts . Long term savers and/or investors with high tax brackets are possible candidates for tax deferred annuities .


Input: When Is An Annuity Appropriate?

Output: Annuities are appropriate when you wish to accumulate money in a tax deferred way . That is fundamental to almost every annuity . Annuities are appropriate when you want an income stream that you can not outlive . Because they are often used as funding vehicles for qualified retirement plans they can receive other tax benefits such as in a Roth IRA where the income received is not taxable .


Input: What Does A Million Dollar Life Insurance Policy Cost?

Output: To see what a million dollar life insurance policy would cost for you , go to a website like ours that offers `` instant '' free quotes . There you can put in your gender , date of birth , height , weight , and even some health answers , so that you can see what a million dollars of coverage would cost for you . You will notice that the premium will be much lower if you pick a shorter term . That is because the rate will be locked in for a shorter period of time , and then you will need to get a new policy . To see what your new policy could cost at that age , you can use the same quote engine . But keep in mind that your health may not be as good then as it is now . Please feel free to call to discuss any variables or to see the price for $ 1,000,000 of permanent life insurance . It can be a lot of fun to mess around with quote engines and see what different face amounts may cost for different people .


Input: What Does A Million Dollar Life Insurance Policy Cost?

Output: The answer depends on the following facts : 1 . Do you want Term -LRB- temporary -RRB- or Whole or Universal -LRB- both permanent -RRB- ; 2 . Your Age ; 3 . Your Health ; 4 . Do you have a hazardous occupation ; 5 . Do you smoke , including e vapors , and if not , have you ever . Term is the least expensive at first , but after a few years becomes the most expensive , and may not even be available to you if your health deteriorates . Permanent locks in your premium for the rest of your life and is always there for you . If you go with the cheapest term , depending on the factors above , you might get $ 1,000,000 for as little as $ 200 a month , or if older , as much as over $ 1,000 . You need to discuss all your options with an experienced agent . Thank you . GARY LANE .


Input: What Annuity Is The Best For Retirement?

Output: That is a particularly interesting question as few people ever ask it . The best annuity in retirement is the one that will provide the basic amount of money that you will need each month for the rest of your life . That annuity can not provide for every eventuality but will on average deliver a significantly higher return on your investment and will give you the most important thing , peace of mind . Usually this would be a single premium immediate annuity .


Input: What Annuity Is The Best For Retirement?

Output: The one that pay the most with the least risk . But when it comes to retirement money , the older you are or closer to your retirement date , the more adverse you are to risk . All annuities should be purchased with the ultimate goal of generating income , ideally income you cant outlive . Currently fixed interest rates for ten year annuities are 3.25 % . That could change . Indexed annuities may pay more , but their performance is tied to market indices . Speaking of the market , variable annuities could pay the best , but could loss the most , may be even your entire deposit . Product suitability for each potential retiree is established by their risk tolerance , their liquidity needs , their length of time to accumulate and the length of time for distributions . Keep in mind that ultimately annuities should generate income , by withdrawals and/or annuitization . The older the annuitant is mortality credits become a player in the increased income amounts of life time annuities payout you cant outlive .


Input: How Does Variable Life Insurance Work?

Output: Great question ! The type of policy you are asking about is called a universal life policy . The difference in this kind of policy lies in the flexibility of your payments , and in its performance . Unlike a term or whole life policy that will have regular , preset premium payment amounts , the universal life policy gives -LRB- within limits -RRB- you the ability to pay a little more , or a little less on your payments . The way your premium is invested gives you some flexibility also , unlike a more mainstream policy . If you would like more details , please contact me , I 'm happy to help . Thanks for asking !


Input: How Does Variable Life Insurance Work?

Output: A variable life policy is a form of universal life . Out of each premium payment a stated amount is withdrawn to pay the insurance cost for a period of time . The balance goes into a fund other than the companys general fund . In the case of the universal life policy it goes into a special fund . In the case of the variable life policy it goes into a fund where the owner of the policy can select how the money will be invested .


Input: How Much Would Private Health Insurance Cost?

Output: Private health insurance prices depend on many factors including your age , whether you smoke , where you live and whether you will qualify for a federal tax subsidy . As an experienced broker -LRB- 32 years -RRB- , our job is to shop the major insurers , find the best offers , explain the coverage and show you the easiest and most affordable ways to apply for coverage .


Input: How Will A Claim Affect My Home Insurance?

Output: Claims will affect your home insurance but other variables are considered . Other variable include , how long you have been with the insurance company , how many claims you have filed , type of claims , payment for each claim , credit , other policies with the same insurance company . Filling a claim does not automatically increase your rate but filing several claims will .


Input: How Will A Claim Affect My Home Insurance?

Output: Claims on homeowners policies are very infrequent . They signal to the underwriter that there might be something that makes your property other than standard . Consulting tables they use the amount of the claim to determine if additional premium will be required in the following year . This is not to compensate for the claim but merely express the fact that your property isnt a standard property . There are several other important factors but because a claim can affect your homeowners premium I suggest that you consult with your agent prior to filing a claim , unless you are being threatened with a lawsuit .


Input: How Many People Have Critical Illness Insurance?

Output: Simple Answer : NOT ENOUGH in the US . Critical Illness -LRB- CI -RRB- was first created by a Heart Surgeon in South Africa . The reason as he put it was `` I can heal people medically but the financial stress is killing them '' . CI provides a lump sum of money upon first diagnosis of a covered Critical Illness such as heart attack , stroke , cancer and up to 21 or so other conditions . In the United States , Critical Illness has only been introduced about 8 years ago and now is finally picking up steam with the agents & brokers who can sell this product . The U.S. has to catch up a bit with the rest of the world but I have faith it will in the next few short years .


Input: Im a lawyer. I have office insurance. Why do I need Malpractice Insurance?

Output: Honestly , you 're a lawyer , why do you need Malpractice -LRB- or E&O -RRB- insurance ? When you read your office insurance policy , did you notice any coverage for malpractice protection for your work ? If you find that you have millions stated within your office insurance policy specifically for a courtroom loss for your work performed , maybe you do n't . Malpractice and E&O are usually purchased outside of office insurance plans to protect you from any errors you may make while practicing your profession .


Input: Im a lawyer. I have office insurance. Why do I need Malpractice Insurance?

Output: As an attorney , you know what a litigious society we live in today . When you get a moment , read this article from The Insurance Journal . CNA analyzes lawyers professional liability cliams and provides a full report that you can download -LRB- at the end of the article . -RRB- I think this report is very informative and will shed some light on why you should make the wise decision to transfer your professional risk by purchasing an attorney E & O policy . Good luck and let me know if you have any other questions . WEBSITELINK


Input: Im a lawyer. I have office insurance. Why do I need Malpractice Insurance?

Output: Lawyers and doctors have malpractice insurance . Your business insurance 100 % exclude coverage for any claim associated with your professional advice . Same like with doctors , when a person tripped and fell in your office - your business insurance should take care of this . But if there is something related to your performance as a legal adviser -LRB- for example your former client claims you did n't fulfill your fiduciary liability -RRB- then your malpractice insurance should take care of this issue . We have great markets for solo practicing lawyers and law firms as well as malpractice insurance for lawyers working in-house as legal advisers for other companies . You can get started by completing a short application online at WEBSITELINK