Input: Which Is The Best Type Of Life Insurance?

Output: Unfortunately , the complicated answer is `` that depends '' . I guess to simplify it , the answer could be : 1 . -RRB- if you are just covering for a short term risk , Term . 2 . -RRB- If you are just looking for coverage for burial expenses , Whole Life . 3 . -RRB- If you are looking to pass some estate , and have some extra cash laying around , Universal Life . This is immensely simplified , but really not that complicated . If you would like to go over this a little more , please hit the `` contact me '' button , and drop me a quick line . Hope this helped !


Input: Which Is The Best Type Of Life Insurance?

Output: There is no one policy that is the best for everyone as we each have our own needs and purposes for buying life insurance . Some may buy life insurance because they just got married , some because they have a new child , some for estate planning , and some for income replacement , just to name a few reasons why people buy it . In evaluating which is best for you , there 's a number of factors to consider such as what type of coverage do you want/need , the reason you want to buy it , how much coverage and for how long -LRB- e.g. term vs. permanent -RRB- , premium affordability , health status , where you live , and others . One of the first things you need to do is identify the risk classification you qualify for . The risk classification is critical because this determines what the premiums will be for the policy you 're applying for . This is where insurance brokers are essential in your pursuit of coverage . They have the knowledge to guide you through the process and help you find the policy that 's going to be most suitable for you . If you would like assistance or have any questions about life insurance , send me a private message by clicking on the `` contact me '' button .


Input: Which Is The Best Type Of Life Insurance?

Output: Interestly enough that is a question I am often asked , Unfortunately I end up sounding like a politician , because it depends on a number of factors including : length of time you need the coverage for , affordability , investment risk tolerance , need going to increase , flexibility desired and more . The answer to you question can be found by speaking with an insurance agent/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: What Is Group Term Life Insurance?

Output: That is a great question ! Your life insurance policy through your work place is a group life term policy . It is a group policy because the same conditions and terms generally apply to all members of your workforce , and it is a term policy because it ends one year after enrolling - which is why there is an enrollment period each fall that you re-up the coverage or change it . I hope that helps , thanks for asking !


Input: What Is Group Term Life Insurance?

Output: Group Term Life Insurance is life insurance that is offered to employees through a business , or sometimes to members of other types of groups . The employer may pay for it , and then allow you to purchase additional insurance at group rates . If you buy group life insurance , be sure to find out whether it is `` portable '' at reasonable rates . Some of the saddest cases I have run across are persons who have relied on their employment for all the benefits , then have become disabled . Not only are their benefits lost , but they also can not qualify for affordable coverage in the private market . Having life insurance `` on the side '' can protect you , whether or not you have employee benefits .


Input: What Is Group Term Life Insurance?

Output: Group term life insurance is just like traditional term life insurance except the carrier issues a master contract to the employer and certificates of coverage to the employees . Most GTL is nominal face amounts with the premium paid by the employer , but some plans may have a voluntary option where the employee can purchase additional coverage .


Input: What Is Group Term Life Insurance?

Output: That is an excellent question ! Group policies are those offered to a segment of the insured pool , like your company , for example . Your policies through work are group term policies , with a term of one year . Each year in the fall , you either renew the policy , or switch to a new one . The cost of the policy is lower generally for your employer if the group of you is generally healthy and claim free , and a larger group . Another type of group policy is like the type that companies like AAA or AARP will offer . They are also spread across a large pool , but theirs are based on your `` age band '' , and increase in cost each time you progress into the next `` age band '' -LRB- typically every 5th year -RRB- . In their case , the term period lasts until you turn 80 , when they will end . I hope that helps , thanks for asking !


Input: What Is Group Term Life Insurance?

Output: Term Life Insurance is temporary life insurance . It is sold for a fixed period of time -LRB- term -RRB- and so long as the premium is paid , it will continue for that period and that period only , then end . After that a new policy must be bought , frequently at a substantially higher premium . Group Term , is term coverage which is bought through a group , usually at work , but sometimes as a member of an organization . The healthy folks usually pay more and the sicker folks usually pay less , so it all evens out for the insurance company . If your health is good , you usually will get a better rate on your own . When you leave the group or work place , you will lose your group term insurance . The best insurance is permanent insurance that you personally own , not through a group . This is Whole Life . You can keep it for your lifetime as long as the premiums have been paid up . The premium never goes up and it never ends , unlike term , where 97 % of folks let it lapse , losing all the money they paid for term . You can get information on all these choices from an experience life agent . Gary Lane , Agent , New York Life . 949 797 2424 , Thank you .


Input: Does Medicare Cover Ptosis?

Output: There are situations where Medicare will cover Ptosis . Your eye care provider will measure the amount of droop and advise you if the surgery is a covered expense or not . They can also tell you if there may be any excess charges that are part of your treatment that may not be covered by Medicare .


Input: Does Scuba Diving Affect My Life Insurance?

Output: Yes , it can . Scuba ratings will depend on how deep you go , how experienced you are and what certifications you hold . There are several companies that add no additional costs for scuba . If you are looking for insurance and scuba , your best bet is to work with an independent agent who can visit several companies with your information and come back with options for you .


Input: Does Scuba Diving Affect My Life Insurance?

Output: Yes , scuba diving is something that underwriters look closely at when evaluating your life insurance rates . The depth of the dives , how often you dive , where you dive , whether you are in a club , whether you are a rescue diver ; these are just some of the variables in getting life insurance as a scuba diver . Most scuba divers can get good rates and still get a policy that will not exclude scuba diving as a cause of death .


Input: How Much Does Long Term Care Insurance Cost In Iowa?

Output: The price of Long Term Care Insurance in Iowa varies widely depending on the features of the policy , the age and health of the person taking it out , and the amount of coverage based on local costs . Long term care costs in Iowa run approx $ 75,000 per year for nursing home care . The long term care federal tax deduction limits are noted on this page , which tell you the premiums that can be deducted as a medical expense . WEBSITELINK


Input: When Can You Withdraw From Annuities?

Output: This depends on the type of Annuity . In an Immediate Annuity you are not able to withdraw from it at all . It pays you a set yearly income . Although sometimes there can be surrender features that give you a portion of your funds back . A Deferred Annuity usually allows for 10 % surrender charge free withdrawals during the surrender period . Some Annuities allow 5 % or 20 % withdrawals during the surrender period . Others allow for just the earned interest to be withdrawn . But the industry norm is 10 % . After the Surrender Period is over you are usually able to withdraw however much you want to .


Input: When Can You Withdraw From Annuities?

Output: Annuities have two phases . In the accumulation phase most annuities can be surrendered at any time . There are built in surrender charges that decline the longer the annuity is in force . If the annuity is actually paying a life time income it can not be surrendered in most cases .


Input: When Can You Withdraw From Annuities?

Output: Annuities are long term contracts . They have two phases . The first phase is known as accumulation . During that phase money can be withdrawn or the contract surrendered . The amount received will be the value of the annuity minus applicable surrender charges . In the second phase or annuitization most contracts can not be surrendered . There are a few that allow surrenders so check with your agent if that is a concern .


Input: When Can You Withdraw From Annuities?

Output: Yes you can withdraw from an annuity usually almost anytime . Normally based on the contract their could stiff early withdrawal penalties known as surrender charges . It could have bonus income loss as well . It all depends on the type of insurance contract it is.The length of the contract usually determines the surrender charges . Your insurance annuities by law must provide very clearly these early withdrawal charges


Input: When Can You Withdraw From Annuities?

Output: You can generally withdraw money from an annuity at any time . However , you may be subject to a penalty and taxes . Annuities are generally meant to be long-term or at least a specified term such as 5 , 7 , 10 or more years . Each contact will have rules on how much you can take out annually without any penalty . Often it is 10 percent per year , after the first year . If you withdraw above the penalty-free withdrawal amount , you will pay a penalty . This annuity schedule is part of the contract and if you have questions about how to interpret , contact the agent that sold you the annuity or another qualified agent . Taxes will likely apply to any withdrawals at your ordinary income tax rate for that year . Also remember that if your annuity is a non-qualified account -LRB- not a Roth or IRA -RRB- and you withdraw prior to age 59 1/2 , the first dollars you withdraw will be considered your gain and be taxed at whatever your ordinary tax rate is for that year . There are ways to avoid the penalty -LRB- not the tax -RRB- for the withdrawal under section 72 -LRB- t -RRB- of the IRS code but you would have to agree to take level distributions until age 59 1/2 or for 5 years , whichever is longer . If you do n't follow this rule , you will be subject to a 10 % penalty going back to when you started early withdrawals from your annuity . Annuities can be a great product when the `` fit '' is correct . Your agent should make sure it is suitable upfront for your specific needs so you can avoid getting into an early withdrawal situation .


Input: How Much Auto Insurance Is Enough?

Output: That is a question that should be discussed with your Insurance Professional so that coverage can be customized to meet your specific needs . In general , however , Physical Damage coverage , which includes both Comprehensive and Collision should be in place for a newer car . If your company offers optional coverage extensionse such as the guaranteed use of original market parts , new car replacement or GAP protection for leased cars , these might be worth considering . Liability protection is the next element . This is coverage that protects you and your financial assets in the event that you are held legally responsible for damage to someone else 's property or bodily injury . Most states require a meinmum amount of liability coverage , but it is important to consider what your financial exposure actually is and then decide onteh amount of protection that is right for you .


Input: What Does The Letter T Mean In A Medicare Number?

Output: Anyone who has Medicare will have noticed their Medicare number is generally their social security number with a letter added on to the end . If you see the letter `` T '' in your Medicare number , this means you have both Medicare Parts A & B , but are not yet receiving social security benefits .


Input: What Effect Will Obamacare Have On Medicare?

Output: The original plans were to cut $ 700,000 from Medicare to help pay for ObamaCare . Now that the ObamaCare Roll Out has been so full of questions about the viability of ObamaCare the cuts to Medicare should be restored as the adjustments are made to the health insurance industry to restore a workable health care system . It has seemed extremely strange to me that `` our government '' would be passing laws that trample the benefits of prior legislation such as social security and medicare and Part D . One would think that if our government can not fund a new program without having to rob Peter to pay Paul that would assist them in stopping the run away spending train


Input: What Effect Will Obamacare Have On Medicare?

Output: While our President claims his historic reforms will take nothing away from seniors care health benefits , his law arbitrarily claimed costs during the first 10 years would be less than $ 1 trillion dollars . One of the ways that the Congressional Budget Office came to this estimate was planned cuts of $ 700 billion in Medicare pending during that same 10-year period , despite the fact that Medicare will have more members than ever . Whether the Center for Medicaid and Medicare Services can actually provide coverage for our senior population while saving $ 700 billion remains to be seen , but the reality of the situation is those savings seem impossible , or highly unlikely at best .


Input: Does Life Insurance Pay Debts?

Output: Yes , you certainly can have your beneficiary pay all their debts with the proceeds of your life insurance . They can also do whatever they like with the funds , tax free , as your beneficiary . You , if you bought permanent insurance , can even borrow against it tax free , and use the money to pay your own debts . Thank you . GARY LANE .


Input: Does Life Insurance Pay Debts?

Output: Life insurance is often assigned to a lender to secure a debt . In that event , the insurance company will pay the lender before paying anything to the beneficiary . Otherwise the beneficiary receives the proceeds and can dispose of the money in any legal manner that they wish . Life insurance proceeds are used to pay off debts every day .


Input: Does Life Insurance Pay Debts?

Output: That is a great question ! One of the best reasons to buy life insurance is to provide the money needed to pay off debts that would be left behind as a burden to your loved ones . What a blessing it is to have the mortgage paid , credit card debt erased , or funeral expenses paid off , as a result of your financial planning . Thanks for asking !


Input: Does Life Insurance Pay Debts?

Output: Individuals and businesses often look to life insurance to provide funds for loan repayment . Many creditors require a collateral assignment of the policy to the creditor `` as its interest may appear '' . Income tax free policy death benefits are first used to repay the outstanding debt and interest due . If a collateral assignment was used , the payments are made directly by the insurance company to the creditor . Any balance of the death benefits will go the beneficiary .


Input: Does Life Insurance Pay Debts?

Output: Yes . This is one of the most common reasons why people buy life insurance . Many people want to have their mortgages , their kids college tuitions , cars , medical bills , and many other types of debts paid off in the even of his/her death . Please note , the proceeds that are paid out from a life insurance policy belong to the beneficiary and they can use the monies however they choose . 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: Does Life Insurance Pay Debts?

Output: Life insurance creates cash at death . This cash can be used for many purposes including paying debts . Sometimes people will purchase life insurance to cover a specific loan or mortgage . Different products can be used for this purpose . An independent life insurance broker , who represents several companies , can help you find the right product at the right price . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Does Life Insurance Pay Debts?

Output: Life Insurance is not like credit card insurance , or private mortgage insurance , that pays off a debt if the insured person dies . Rather , life insurance pays the beneficiary , who then makes the choice how to use the money . The deceased may have spelled out uses for the life insurance in a will or trust , or they may have just left the money to the beneficiary to use as they see fit .


Input: Does Life Insurance Pay Debts?

Output: Life insurance can be used to pay debts , final expenses , pay for college , whatever you want it to cover . It just depends on why you took out the policy , who the beneficiary is , what the beneficiary wants to do with the money etc. . It generally will not automatically pay the debt unless the credit holder is the named beneficiary . Life insurance proceeds are protected from probate and creditors unless the estate is the named beneficiary .


Input: Does Life Insurance Pay Debts?

Output: Does life insurance pay debts ? NO ! Depending on the kind of policy you have , if you have Whole Life you can use the Cash Value in the policy to pay debts if you want . But if there is a life insurance policy in place at the time of death of the insured , the insurance company will pay the death Benefit to the Beneficiaries . Then the Beneficiaries may use the money for anything they choose . If they choose to pay debts with the money , they may do so .


Input: How Much Would A Term Life Insurance Policy Cost?

Output: Term life insurance is generally offered in 5 year increments : 5 , 10 , 15 , 20 and 30 years . So the length of coverage impacts the premium as does the amount of coverage . But the real impact is your health and behavior that dictate the cost of insurance : gender , age , smoking status , health history , current medical condition , vocational hazards , recreational activities and motor vehicle violations .


Input: How Much Would A Term Life Insurance Policy Cost?

Output: That is a great question ! Unfortunately , the answer requires that I have some more information from you - how much insurance were you looking for ? For how long a term ? And then the myriad of health questions - age , gender , smoking/non , health issues , weight/height , etc. . If you 'd like to inbox me the details , I can give you your specific answer , but with such a blank slate , all I can tell you is that term insurance is generally dirt cheap . I 'm sorry that 's not much of an answer , but thank you for asking !


Input: When Do I Need Renters Insurance?

Output: That is a great question ! The simple answer is anytime that you put your belongings into someone else 's property , and that person is n't willing to help replace it if it 's damaged or stolen . Most landlords are going to be insured for their building , and not the things that you put there . You are responsible for replacing everything that is damaged or destroyed , and that can be prohibitively expensive . That is a great reason to have insurance ! Thank you for asking !


Input: Why Choose Medicare Part C?

Output: Medicare Part C is now referred to as Medicare Advantage . Why would you choose Medicare Advantage over original Medicare ? Here are a few considerations . Medicare Advantage plans are your least expensive plan as long as you remain healthy . Most Medicare Advantage plans give you a list of doctors . Their doctors , your choice . You can change from one Advantage plan to another each year during open enrollment .


Input: Can You Get Life Insurance With Hep C?

Output: Yes , most people can get life insurance with Hep C . If applying for a medically underwritten policy , the underwriter will look at your liver labs , whether you hepatitis C is stable , how long you have had it , results of your liver biopsy -LRB- if one was done -RRB- , the type of Hep C you have , whether you had treatment -LRB- if so , was is successful -RRB- , whether you drink alcohol , and your overall health . If applying for a No Exam policy , there are fewer questions and these are easier to get . Every policy has a different set of questions , and some have no health questions at all . Contact a specialist in Hep C to purchase your life insurance policy so that you get placed with a company with whom you can qualify , and secure the lowest price .


Input: Does Auto Insurance Cover Rental Cars?

Output: You 're going to want to read your policy . Often times , your auto insurance will extend the highest level of coverage on your policy to a vehicle you are driving with permission or renting . If you have full coverage -LRB- ie . comprehensive and collision coverage -RRB- , you would be extended full coverage . However , almost all insurance policies exclude coverage for loss of use of that other vehicle and will only pay market value for the loss of the vehicle . So , if you are in an accident with a rental car , the rental company has the right to charge you for each day it is out of service being repaired -LRB- YOU PAY THIS , NOT INSURANCE -RRB- . Also , if the auto company has a value on the books of $ 20,000 for the vehicle and your insurance company only pays $ 15,000 for the car in a total loss , you are responsible for the difference . EVERY insurance agent who knows anything , would tell you to take the third party insurance coverage . If you plan ahead however , Travel Guard by Chartis offers the same coverage the rental companies will , minus liability which would be through your insurance , to protect against the loss of use and the difference in value .


Input: What Is A Juvenile Life Insurance Policy?

Output: This is a really timely question as I happen to be working on a case right now . The situation is this : a young girl 12 years old has several medical conditions . Her family has been through a tough time and fortunately , she is stable and relatively healthy . But of course , these things may get worse in time . Her parents are very forward thinking and know the essential role life insurance plays in ones financial portfolio . They are rightfully concerned that their daughters medical condition may prohibit her from getting coverage later , or may cost her a lot of money in extra premium . They therefore want to take a policy out on her now so she can have coverage as she enters adulthood . A smart move , dont you think ?


Input: What Is A Juvenile Life Insurance Policy?

Output: Juvenile life insurance is life insurance policies set up for minors under age 18 . Typically there is no medical exam requirement -LRB- the carrier would ask for a completed `` Part 2 '' instead - Part 2 is the health questions -RRB- . Many times parents set up small whole life insurance policies for them that feature a guaranteed insurability rider that allows them to increase the face amount by a certain amount every several years -LRB- typically beginning at age 25 - the increase is typically allowed to be done 8 times -RRB- with no new evidence of insurability .


Input: What Is A Juvenile Life Insurance Policy?

Output: Juvenile life insurance is life insurance on the life of a young person . These are often issued on very young children . There is little underwriting required and the amount of coverage is generally low , however , we are seeing a growing trend among some ethnic groups to purchase substantial life insurance on children to defray the cost of the funeral of the child regardless of when it occurs . Parents often realize the cost of waiting until they are older and have medical issues that make life insurance expensive and difficult to obtain .


Input: What Is A Juvenile Life Insurance Policy?

Output: juvenile insurance is for children usually 18 or younger . It is a great insurance with many perks like automatically over a certain amount of years go up and depending on the carrier and state the application is written in . It can automatically go up in face amount without requiring a medical or be underwritten and generally very inexpensive and because we never know when our last day may be it is definitely something to invest in and generally have little or no medical questions however it will depend on the carrier and or state the application is written in .


Input: How Much Is Medicare Rebate For A Psychologist?

Output: Medicare does include some psychiatric treatment as long as it has therapeutic value . Examples of therapeutic counseling include drug or alcohol dependency , anxiety , depression and psychosis . Marriage counseling is usually not covered by Medicare . If Medicare does not cover the psychiatric treatment then your Medigap carrier will deny the claim .


Input: How Much Is Medicare Rebate For A Psychologist?

Output: Medicare does not have rebates . Are you asking how much Medicare pays a psychologist ? Or are you asking how much your co-pay is if you go to a psychologist ? If you are on original Medicare you can go to a psychologist . If you have a Medigap plan it will pay all co-pays .


Input: Does USAA Homeowners Insurance Cover Pitbulls?

Output: I believe you will find that USAA and several other homeowner carriers do not automatically exclude Pitt Bulls . However , if the animal has bitten someone , in all probability the chances are great that it will be excluded from the liability coverage provided in the homeowner policy . Of course you need to confirm this with USAA however , so that you do not encounter any surprises .


Input: Is Car Insurance Valid On Private Land?

Output: Car insurance is valid on private and public land . Although a citation may not be issued , the coverage -LRB- liability , collision , comprehensive -RRB- etc. . . would apply . If driving on public land and you have an accident -LRB- especially if you are hit by another driver -RRB- , you can still call the policy at that time .


Input: How Does Life Insurance Work When You Die?

Output: Your life insurance policy will have one or more beneficiaries listed as primary . When you die the primary beneficiary -LRB- s -RRB- file a death claim and send in a certified death certificate . The insurance company will mail or bank transfer the money to your beneficiary . If your primary beneficiary died before you did , it will be paid to your secondary beneficiary or to your estate if there is no living beneficiary .


Input: How Does Life Insurance Work When You Die?

Output: When you die , the life insurance policy will pay the face amount of your policy to your beneficiary . If you have more than one beneficiary , it will be split among them in the percentages you stated in your policy . They can take it in a lump sum , or they can choose to received payments made to them at regular intervals until the death benefit is depleted .


Input: How Does Life Insurance Work When You Die?

Output: When you die the person you named as the primary beneficiary will contact your insurance company to receive a death claim form . They will need to complete this short form along with a certified copy of the death certificate . Most life insurance companies process a death claim in just a few days unless you die a questionable death that is under investigation . This can slow down a death claim .


Input: Can A Minor Receive Life Insurance Proceeds?

Output: A minor can receive life insurance proceeds , but if a competent adult to manage their money is not named in your will , trust , or under your state 's UTMA , a property guardian may be designated by the court to manage their money for them until they become adults .


Input: Can A Minor Receive Life Insurance Proceeds?

Output: That is a great question . The answer will depend upon whether your policy allows it , some companies will require a beneficiary that is of legal age . Others will require that the benefit be paid into a trust , or that there be a guardian to manage the funds . Check with your agent to be sure . Thank you for asking !


Input: Which Medicare Plan To Choose?

Output: Choosing a Medicare Plan can seem confusing when doing it for the first time . You have several things to consider . First , do you want a Medicare Supplement Plan or a Medicare Advantage plan ? Sometimes , people like to compare plans online first just to get an idea and they can do that on our website . However , it is important to also to speak with an independent agent that can explain the pros and cons of each plan and how that plan may fit your needs the best . You will always be able to tell a Medicare Supplement Plan -LRB- or a Medigap Plan -RRB- because they have a letter like Plan F or Plan G , etc. . Medicare along with a Medicare Supplement is actually great health insurance . Some of the great things about a Medicare Supplement -LRB- Medigap -RRB- is : 1 . No Network - you can go to any doctor or hospital you want . If they take Medicare , they take the supplement . 2 . No referral needed to go to a specialist . 3 . Once you have a plan , the benefits on that plan can not change from year to year . 4 . No large out of pocket surprises when you go to the doctor or hospital


Input: Does Medicare Cover Osteopaths?

Output: Yes as long as they accept Medicare Osteopaths are a recognized medical profession and will be covered by Medicare . The same is true for Chiropractors , physical therapists , massage therapists under certain situations , and other recognized healthcare professionals involved in treating health conditions . Unfortunately some alternative practitioners are not covered such as Naturopathic doctors and Medical Herbalists .


Input: Will Not Paying Car Insurance Affect Credit?

Output: Credit scores are often used by auto insurance carriers to determine premium rates . These scores have proven to be predictive of future accident claims . Auto insurance companies use credit reports in underwriting , but they do not report premium payment information to the bureaus . So there is no direct impact on your credit rating if you fail to make premium payments . However there may be a variety of indirect impacts on your score . If you are pulled over and fail to show evidence of insurance you may have to pay a fine . If you have an accident while uninsured , you may face large expenses for repairs , liabilities , medical expenses , and more . These added expenses could easily force you to become delinquent on debts that are reported to credit bureaus .


Input: How Much Is The Premium For Long Term Care Insurance?

Output: Long Term Care Insurance premium is determined by medical information collected on the insured like gender , age , heath history , current medical condition , smoking status and the electable policy provisions like the elimination period the benefit amount and riders such as inflation . Two 60 year old nonsmoking and in good health issued on one policy will pay around $ 300 a month for long term care insurance .


Input: Does Obamacare Require Everyone To Have Health Insurance?

Output: The word require is the operative word here . Because Obamacare is ultimately means tested many Americans will not pay for health care . Some will have their premiums mitigated , again through means testing . Those who choice not to pay for health care will be subject to a penalty when they file their IRS 1040 . Keep in mind that this is a federal program . Half the country pays no federal taxes , i.e. any overrun costs from Obamacare will fall on American federal tax payers .


Input: Why Is Life Insurance Needed?

Output: Life insurance coverage is needed to protect the people and nonprofits you love from suffering financial loss at your demise . Life insurance can also be a tax advantaged supplement to retirement income . Do you have loved ones that would suffer financially if you were not around ? Do you have bills that will obligate someone else at your passing , like a spouse ? Would there be an estate tax consequence at the death of you and/or spouse ? Would you desire to make a difference your children and/or grandchildren ? If the answer is yes to any of these questions , then it is smart to get life insurance . Its prudent to get life insurance . And its financial leverage to get life insurance . We can help with that .


Input: How Important Is Disability Insurance?

Output: How important is disability insurance ? It 's going to depend on your situation . Since Disabiliyt Insurance is paycheck protection , the first thing you have to ask `` is my paycheck worth protecting with disability insurance ? '' Maybe you have passive income or considerable savings that may reduce the the need for disability coverage ? Maybe you are just shy of retirement ? I guess the importence of Disability Insurance to the individual is going to be in proportion to how long that person can go without a paycheck ? Answering that question usually establishes your waiting period for most people for the policy they are considering .


Input: How Important Is Disability Insurance?

Output: If you are working and you need your pay check to meet the bills then disability insurance can be very important . Your chance of becoming disabled prior to retirement far exceed the risk of premature death . Most families do not have enough savings to see them through an extended period with no pay coming in .


Input: How Important Is Disability Insurance?

Output: How important is having a paycheck ? Try to imagine no paycheck . How much money would you need to pay your bills if you were disabled 30 months , the average time of a disability ? So buy term and spend the difference on disability insurance . Its paycheck protection you need .


Input: Can You Cash In Your Life Insurance?

Output: Yes , someone can cash in their life insurance if there is cash value in the policy . If it is early in the years of a cash value policy -LRB- Whole Life or Universal Life -RRB- , surrender charges will be subtracted from the cash value . There are other options for many policies that you may want to explore . E.g. you could possibly make your policy into a reduced paid up policy . You would not have the cash value to spend , but you would still have some life insurance for which you no longer have to pay a premium . Visiting with your agent can be helpful in making the decision whether or not to cash in your life insurance .


Input: Can You Cash In Your Life Insurance?

Output: Assuming youre addressing permanent life insurance that has accumulated cash values , the following are some considerations before you cash in your life insurance . Any gain in the policy will be taxed as ordinary income at the surrender or cashing in your policy . And cashing in the policy terminates the coverage .


Input: What Is The Importance Of Renters Insurance?

Output: Where to start ... this is a great question with a variety of appropriate answers . I 'll do my best to summarize why I feel renters insurance is valuable . Protect your personal belongings from loss or damage Protect your income from liability claims There are certainly more reasons but these are the big ones . I recommend talking with a local independent agent to highlight more benefits for your specific situation . Good luck !


Input: How To Get Very Cheap Car Insurance?

Output: That is a great question ! The absolute best way is to have a great driving record . The other things that you can look at are bundling your insurance needs with one company , and taking advantage of the discounts they will give you for doing so ; Look at keeping a higher deductible -LRB- not good , if you ca n't raise the cash if needed -RRB- ; and limiting your coverage , based on the age and expected use of the car . I hope that helps . Thanks for asking !


Input: How To Get Very Cheap Car Insurance?

Output: The best way to get cheap car insurance is to properly shop all of the major companies so you can easily compare the best offers in your area . There are many companies that offer affordable options that will save you money . Of course , a very good driving record also helps ! LIVE answer provided by : Ed Harris - Premier auto insurance broker for 33 years and owner of several top-rated websites that offer the lowest available rates .


Input: What Age Qualifies For Medicare?

Output: You must be age 65 to qualify for Medicare , with a few exceptions . Without elaboration , the main exceptions are : 1 -RRB- being on Social Security Disability for two years -LRB- so if you go on SSDI at age 62 or earlier , you will be able to go on Medicare before age 65 -RRB- , 2 -RRB- having end stage renal disease , or 3 -RRB- having Lou Gehrig 's disease .


Input: How Much Does Medicare B Cost?

Output: Most individuals receiving Medicare Part B will pay the standard monthly premium -LRB- $ 104.90 per month in 2014 - this number can change each year -RRB- . Some people may be subject to the higher income penalty if they earn above $ 85,000 on their MAGI -LRB- modified adjusted gross income -RRB- as stated on their individual tax return or married filing single tax return from 2 years prior , above $ 170,000 -LRB- if married filing jointly -RRB- . If filing an individual tax return , the premium brackets are as follows for 2014 : 1 -RRB- $ 85,000 or less - $ 104.90 per month 2 -RRB- $ 85,001 - $ 107,000 - $ 146.90 per month 3 -RRB- $ 107,001 - $ 160,000 - $ 209.80 per month 4 -RRB- $ 160,001 - $ 214,000 - $ 272.70 per month 5 -RRB- $ 214,001 or more - $ 335.70 per month If married filing jointly , the premium brackets are as follows for 2014 : 1 -RRB- $ 170,000 or less - $ 104.90 per month 2 -RRB- $ 170,001 - $ 214,000 - $ 146.90 per month 3 -RRB- $ 214,001 - $ 320,000 - $ 209.80 per month 4 -RRB- $ 320,001 - $ 428,000 - $ 272.70 per month 5 -RRB- $ 428,001 or more - $ 335.70 per month If married filing single , the premium brackets are as follows for 2014 : 1 -RRB- $ 85,000 or less - $ 104.90 per month 2 -RRB- $ 85,001 - $ 129,000 - $ 272.70 per month 3 -RRB- $ 129,001 or more - $ 335.70 per month Part B will pay for approximately 80 % of your physician service expenses leaving you responsible for the other 20 % . If you want to add prescription drug coverage or a Medicare supplement plan to cover the gaps in Original Medicare -LRB- Part A & Part B -RRB- , you will have additional premium expenses , however , it will help you create a much more predictable healthcare expense structure -LRB- the premiums will also be based on the plan you 're applying for , your age , and other factors -RRB- .


Input: Does Beneficiary Pay Taxes On Annuities?

Output: If you have had a non-qualified annuity for any length of time you most like have accumulated tax deferred earnings . This means that the growth in the annuity account value has not yet been taxed . When you die and the annuity proceeds are paid , the tax deferred earnings will be taxed as ordinary income to your beneficiary . There is a spousal provision whereby if the beneficiary is your spouse they will have the option to continue to defer the taxes in the annuity . When your spouse dies , any deferred earnings still held by the annuity will now be taxable to your spouses beneficiary .


Input: Does Beneficiary Pay Taxes On Annuities?

Output: A non-qualified annuity has a tax liability when the funds are paid out . That applies to the annuitant or to the beneficiary . If the annuity is used in an IRA , the entire proceeds are taxed as ordinary income . If the annuity is used in a Roth IRA , the entire proceeds are received free of income tax .


Input: Does Beneficiary Pay Taxes On Annuities?

Output: Generally speaking , if the annuity is nonqualified , the beneficiary of an annuity will pay taxes on the earnings . The basis , or monetary contribution that purchased the annuity , is not taxed . How the beneficiary is taxed depends on whether they receive the annuity in a lump sum or whether they annuitize it -LRB- take periodic payments -RRB- . If the annuity was tax qualified when purchased , taxes are paid on both the basis -LRB- original contribution -RRB- and the earnings .


Input: What Does No Fault Auto Insurance Mean?

Output: In general terms it means `` you fix yours '' and `` I 'll fix mine '' ... This is typically a State level insurance law as in you live in a No Fault State . How it works in a claim situation , is if you were invovled in an accident with another vehicle - then your insurance would handle damages to your vehicle and any injuries to you or your passengers and the other party 's carrier would do the same to them . There is also stipulations and restrictions on the ability to litigate against another party in No Fault States . The theory with the reduced exposure to litigation , then auto insurance premiums shouldbe able to be kept at a lower level . Call your local independent agent and discuss with them the laws of your state and how they pertain to your question .


Input: I Lost My Health Insurance What Do I Do?

Output: You might call your insurer to see if you can get reinstated you should hurry time is a virtue here if not if you do not have a planner you should speak with one this is very important because he or she can help you have things in place and where you need it .


Input: Who Underwrites Natwest Life Insurance?

Output: Natwest Life Insurance is provided by Aviva Life & Pensions UL Limited . Natwest itself was acquire by RBC -LRB- the Royal Bank of Scotland Group -RRB- in the year 2000 . Natwest offers offer level term life insurance , decreasing term life insurance , and over 50 's whole life insurance policies for those between ages 50 and 75 .


Input: How Long Does It Take For Homeowners Insurance To Pay?

Output: Most insurers realize that a homeowners policy loss is very distressing . Many companies will start immediately providing a place to live under the policy provisions , and then as repair costs are determined , contracts let and progress is made , they provide progressive payments . In some cases the payments are limited to the actual cash value of the item damaged . If there is replacement cost coverage , the amount will be adjusted after the customer purchases the replacement item -LRB- s. -RRB- These are extremely complicated adjustments .


Input: Does My Homeowners Insurance Cover Hurricane Damage?

Output: It is possible that your Homeowners ' Insurance will cover loss due to hurricane , however , it is important that you discuss this directly with your Insurance Professional . In some areas , insurance companies may require higher deductibles for hurricane damage and others may exclude hurricane damage coverage all together . That is why it is important that you fully understand the terms and conditions of your particular policy .


Input: When Do Annuities Make Sense?

Output: Non-qualified tax deferred annuities can be a product consideration with savers and investors in a high effective tax bracket rate , or those seeking higher interest rates than bank rates or for those who have the risk tolerance for market returns , but are aware of the reality of market losses with variable annuities . An annuity can be a supplemental retirement income stream that can offer differing distribution options including lifetime annuitization .


Input: Is American Income Life Insurance A Legitimate Company?

Output: American Income Life is a legal insurance company . This company uses brokers to sell their products who are paid on commission . There are a lot of complaints online however when you really down to it , it seems brokers are not being clear as to the product they are purchasing or the brokers are given leads to follow up with people who are responding to some add to get free accidental dismemberment and death insurance . Just like any lead , the broker has to find the need which in this case , may not be one . Your simple answer is YES , they are Legit .


Input: Can You Cobra Disability Insurance?

Output: Can you Cobra disability insurance ? No , not under current COBRA guidelines . However , depending on your plan at work , it may be portable without further health underwriting . In any work situation it is always a good idea when parting ways to go through all your previous benefits to find out what you can and ca n't do . It 's actually a good idea to go through all the details of your plans when you become eligible for them . Unfortunately , most employee plan summaries look the same at the end of the plan as they did at the beginning .


Input: Can You Cobra Disability Insurance?

Output: No , disability insurance can not be `` ported '' as health/medical coverage can under COBRA . There is a risk to the insurance company that you could change occupations to something more dangerous or hazardous , or not work at all if you left your current employer . Best to contact a local insurance professional to discuss your options .


Input: How Much Is Medicare Social Security Tax?

Output: The Medicare Social Security tax must be paid on all income . The rates for 2013 are as follows : Employees : 1.45 % Employers : 1.45 % Self-Employed : 2.9 % If an individual 's earned income is over $ 200,000 they must pay 0.9 % more in Medicare tax . Married couples filing jointly with an income over $ 250,000 must also pay an additional 0.9 % Medicare tax in addition to the percentages noted above .


Input: Can Homeowners Insurance Ask For Copies Of Renters Insurance Of A Tenant?

Output: The homeowner can make ownership of a tenants policy a requirement to lease the space that the homeowner owns . The homeowners property insurance company would probably not ask for evidence of insurance as the insurance company hasnt any obligations concerning your personal property . The could be some very unusual situation where an insurance company might ask for liability insurance if the company felt that the tenant was a particularly dangerous man .


Input: Can Homeowners Insurance Ask For Copies Of Renters Insurance Of A Tenant?

Output: Good Question . In my experience , it is usually the landlord that requests evidence of insurance from the tenant and not the actual insurance company . The landlord can make it a lease requirement that the tenant maintain and prove insurance on the space rented . Having said that , an insurance company can ask for whatever they would like but that does n't mean you have to provide it unless contractually obligated by your lease . Hope this answer helps


Input: Can Homeowners Insurance Ask For Copies Of Renters Insurance Of A Tenant?

Output: That is a great question ! There are a couple of reasons why your homeowner 's insurance company would ask for your sister 's renters policy . If your Sister filed a claim in conjunction with your Mom , your Mom 's company would want to assess what would be covered under the terms of that policy , and what they would be responsible for under theirs . They may also be trying to determine who is responsible for paying for the temporary housing costs , and for how long that coverage extends under each policy . They may also be trying to determine if some household items were listed under both policies , and filed as claims by both Mom and your sister . Neither wants to pay for something that the other will , if they do n't have to , you know ? It 's a pretty standard practice for insurance companies to communicate between themselves as much is as legally permitted , so that they can make the proper determinations on who is obligated to pay for what , and that payments are not duplicated . I would not worry too much about it . Thank you for asking , and I 'm glad that neither your Mom or Sister were hurt - that is more important than any of their things .


Input: What Does Aetna Health Insurance Cover?

Output: Aetna health insurance plans are available in the vast majority of the US ... either on or off the Exchange . There are many different types of policies , so benefits will vary . Typically , office visits , prescriptions and major medical expenses are covered , although deductibles , copays and coinsurance may apply to some of these benefits .


Input: If A Car Has Insurance Can Anyone Drive It?

Output: Auto insurance typically follows the driver first and then the vehicle . If you have auto insurance coverage on your vehicle and allow another person to drive the vehicle and they do not have auto insurance coverage your auto insurance coverage would typically apply if they were involved in an fault accident less your deductible . This could potentially put you at financial risk , risk of a rate hike , or even possible cancellation or non-renewal .


Input: If A Car Has Insurance Can Anyone Drive It?

Output: Automobile insurance -LRB- the liability portion - bodily injury , property damage , medical expense , under-insured , and uninsured motorist -RRB- will typically follow the driver not the vehicle . The vehicle itself does not have insurance technically . The collision and other than collision will only provide coverage for the vehicle they are listed to , these coverages do not typically follow the insured . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: If A Car Has Insurance Can Anyone Drive It?

Output: Auto insurance follows the car . The car is insured . If the person named on the insurance policy permits you to drive the vehicle , and you are a licensed driver , the coverage afforded under the cars policy applies . The exception would be if you were a member of the household and were specifically excluded from operating the vehicle . That would appear as an endorsement or would be a part of the policy itself .


Input: If A Car Has Insurance Can Anyone Drive It?

Output: Tend to disagree with my colleague here . If you give permissive use to another person who you believe to be a licensed operator then your liability insurance -LRB- bodily injury , property damage -RRB- will respond . The ability to allow permissive use is a powerful extension of your policy . You should know that the other party does have a valid drivers license -LRB- ask them and take a look at their drivers license -RRB- and be careful about when and where you hand over the keys . If someone is out drinking with you and you hand off the keys you also may be creating a negligent entrustment . Also keep in mind , that an auto policy affords you defense costs . So while the circumstance of any permissive use may mean the involvement of your policy , the adverse party will likely file suit against everyone involved including you . A bit of a warning to all this : some companies do sell limited liability policies in which permissive use is restrained . Ask your agent and do n't buy a policy like that . You would be giving up an important coverage that may be necessary in an emergency situation .


Input: Does Health Insurance Cover HGH?

Output: Yes , but only in specific circumstances that meet very clear criteria for medical necessity . The most common example of when HGH treatment may be approved by your health insurance carrier is in the case of children diagnosed with a HGH deficiency or conditions such as Turner Syndrome or Noonan Syndrome . There can be other diagnoses that will qualify an adult for HGH treatment but it is not a routine treatment for the general population . There is a growing medical industry advertising Human Growth Hormone injections as a way for people , especially persons over 50 , to `` regain their youthful vigor and stamina '' . This may be true but it is not addressing a specific medical problem and is viewed as more of a cosmetic treatment . If this is why an insured person is seeking coverage for HGH by their health insurance carrier they should expect that request for coverage to be declined and be prepared to pay for this treatment out of their own pocket .


Input: Who Can Get Life Insurance On You?

Output: Only someone who has contacted you and asked for your consent in writing -LRB- by you signing the application -RRB- can get life insurance on you . And they must have a financial reason for doing so . E.g. . You owe them money that would be paid back in the event of your death ; you help support them with your paycheck and the policy would replace that income for a time .


Input: Who Can Get Life Insurance On You?

Output: No one can get life insurance on you without your knowledge or signature on the life application . You also have to prove `` insurable interest '' between the two parties : policy insured and the policy beneficiaries . In addition , you would also need to determine the amount of coverage though financial documentation .


Input: How Much Do Long Term Care Insurance Policies Cost?

Output: The cost of a typical long term care insurance policy depends on gender , age and health condition . Sometimes where you live can affect the cost as well . A typical male and female , each age 60 nonsmoker on a joint long term care policy with a good company will pay around $ 300 a month for long term care coverage .


Input: Does Aaa Offer Disability Insurance?

Output: AAA does not offer Disability Insurance . They do offer Life Insurance and Annuities along with Auto and RV insurance . To get a Disability Insurance quote , contact a website or agency that looks trustworthy and visit with an agent to see whether they can shop several Disability Insurance policies to find your best rate .


Input: How Much Life Insurance Should You Carry?

Output: That is an excellent question ! The answer is that it depends upon what you want the insurance to do for you . If it is just to cover funeral expenses , then typically a smaller , $ 10-20 ,000 policy should be fine . If you are trying to cover mortgage , college , or other major debt that would be left to your spouse , then you want at least that much . If it is to provide a legacy for your children , then however much you 'd like to bless them with is the amount needed . If it is to provide your spouse with the income lost when you pass , then you will want to do some math , and decide upon how many years ' salary to choose . If you need help , please contact me , okay ? I 'd be happy to help . Thanks for asking !


Input: How Much Life Insurance Should You Carry?

Output: This varies for each person . A lot of variables go into the calculation of determining how much life insurance you need , how long you need it , and what is an appropriate amount to actually secure . A life insurance calculator can help with this . A few things to get you started when calculating out what you need and how long you need it for are : 1 -RRB- Do you have a mortgage ? If so , how much is left on it and how many more years do you have to go until it 's paid off ? 2 -RRB- Any final expenses you want paid off -LRB- e.g. burial expenses , credit card debt , medical bills -RRB- ? 3 -RRB- Education expenses for you or a family member you want to pay off -LRB- such as college tuition -RRB- 4 -RRB- Income replacement - this is a big one ! A question to think about here is how much income would be needed if you died today and how long would your family need it to maintain their current lifestyle . An experienced life insurance broker can help you with this and make it a much smoother , easier process . One thing to also note , a lot of people think `` once i 'm retired , I wo n't need life insurance anymore so I can just buy term insurance and let it go when I retire '' - there are many many many reasons why you should have life insurance during your retirement years . For example , if you 're receiving a retirement pension and you die , the pension income may stop and not continue onto your spouse -LRB- if you chose the pension max option over the survivorship option when you started receiving benefits -RRB- - this can also apply to social security income . That 's just one scenario . Please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: How Much Life Insurance Should You Carry?

Output: You should carry enough life insurance not to leave the people you love in a financial bind if you were to die today . You want enough to payoff a mortgage , eliminate all debt , educate your children if any , run your business if you have one , and leave an amount of at least ten times your income so your loved ones can invest the amount and the annual interest will replace your annual earnings . That is the responsible amount of life insurance to be purchased .


Input: How Much Life Insurance Should You Carry?

Output: Got family ? Got a house ? A Mortgage ? Kids ? Keep your spouse happy and feeling secure . Do not get in over your head , since you might be tempted not to keep the policy up . But get what you can afford , try to cover the mortgage , the kids education , and future medical care , food , vacation , and just life . Thank you . GARY LANE .


Input: How Much Will I Get For Disability Insurance?

Output: The amount you receive for your disability insurance depends on the benefits that your policy provides . You may receive $ 500 per month or $ 4,000 per month -LRB- or more -RRB- . 80 % of your income is usually the maximum you can receive . There also may be an `` elimination period , '' which is essentially a waiting period before benefits are paid . Your broker or current insurer can explain what benefits you currently have . It 's important that the broker be a full-time insurance consultant to obtain the most accurate information .


Input: How Much Will I Get For Disability Insurance?

Output: If you apply for the maximum coverage you should be able to secure 60 % of your compensation tax free or 80 % of your compensation , but taxable . If you can afford disability coverage for your retirement , you can add your annual contributions in addition to your individual disability policy .


Input: Does Vanguard Sell Annuities?

Output: Vanguard offers a variety of securities investments . They are famous for their index mutual funds . They have some of the first no load mutual funds as well as some of the largest funds -LRB- highest net assets invested in the fund -RRB- . They do not sell annuities however , because annuities are a life insurance product . In order to purchase an annuity , you must find a licensed insurance agent who is appointed by an insurance company to offer their annuity product to you . Annuities can be complicated investment tools , but they have their place in retirement portfolios ... Specifically when someone has a need for consistent income for life , they do n't want to be able to outlive that income , and they expect to live a very long time .


Input: Does Health Insurance Pay For Tummy Tuck?

Output: Health insurance is designed to cover treatment that is medically necessary . A tummy tuck is considered cosmetic surgery , not a medical necessity , so your claim would be denied . If you decide to have the procedure you will pay for the cost out of pocket , and you will pay full retail .


Input: How Much Is Group Life Insurance?

Output: Group life insurance pricing is a calculated risk . Even though it is a guaranteed issue product it is still underwritten for a risk assessment . They do look at the size , age range and a few risk factors of the group in order to determine premium . Group life is usually reassessed for risk on an annual basis . Of all of the employee benefits , I will say group life is one of the most affordable benefits a company can offer their employees .


Input: Can Term Life Insurance Be Used As Collateral For A Loan?

Output: Yes . When you apply for life insurance , you will need to include a completed collateral assignment form - the rest of the application would be completed as normal . I hope the information is helpful - please feel free to contact me for assistance with your insurance coverage and if you have any other questions . Thanks very much .


Input: Can Term Life Insurance Be Used As Collateral For A Loan?

Output: Collateral is an asset that you own that has value and the lender is accepting in order to provide you a loan . Term life insurance hasnt any value . A collateral assignment is an additional item to induce a lender to make a loan and term life insurance can be used in this case . The term policy is assigned to the lender who has the first right over the proceeds in the event of death . This way the lender will get his money whether the assets that collateralized the loans are adequate or not . Incidentally , permanent insurance can be used as collateral because it has value .


Input: Can Term Life Insurance Be Used As Collateral For A Loan?

Output: Yes , term life insurance can be used as collateral for some loans . Most commonly , we see people using term life insurance as collateral for loans through the SBA -LRB- Small Business Administration -RRB- . When the loan is expected to be paid off within 10 years , using a term life insurance policy is a very inexpensive way of providing collateral . Our office generally uses nonmed insurance for this type of need , so that it can be put into effect quickly .


Input: How Do I Get Auto Insurance Without A Car?

Output: There are many carriers that have policies called non owned policy they are fairly inexpensive depending on your age and the state you live in . The policy only covers the liability portion and un insured and under insured if you choose the option of that which is highly recommended . It will not repair the car that you are driving but cover damages done to others . Depending on your state laws . Here in Montana the insurance follows the car first then the driver 2nd which means if you were driving a friends car and they gave you permission and you got into an accident their insurance would cover the 1st portion the 2nd would be your non owned policy because they gave you permission to use their car then permissive use would mean that their insurance liability would be responsible now his insurance may try and get some of the loss covered by your insurance . Check with your state guidelines . Or talk to a local agent .


Input: How Do I Get Auto Insurance Without A Car?

Output: In Montana you get what is called a Non - Owned policy this is for liability only and will not repair the car that you are driving so if you are driving a friends car and wrecking it cover damage done to others but nothing for your friends car . Now in Montana also the insurance follows the car 1st so if you borrowed your friends car and got into an accident then their insurance covers it first then you insurance 2nd in many cases their insurance will collect what they paid from your insurance carrier . I have many clients that have this coverage because they ca n't afford a car . As stated by the last person that usually it is because the courts require it if you have had problems with your driving record . This is not always the case many of my clients have great driving records but own no car .


Input: How Do I Get Auto Insurance Without A Car?

Output: Yes you can get auto insurance without a vehicle . This is called non owned auto coverage . The use of this type of coverage is primarily for people who had problems with their drivers license and the court is requiring insurance in order to obtain the license back . This does not mean this has to be the issue but is just the primary reason why non owned auto is purchased .


Input: What Is Endowment Plan In Life Insurance?

Output: Endowments are single or ten pay life insurance policies . They are security policies and are designed for estate preservation or high cash value accumulation . They are now called modified endowment life insurance . Years ago before this investments were made in order to avoid taxes . So they became modified so that these advantages were not used . Its still life insurance and all the benefits of a life insurance policy but the premium payment differ however all life policies can be single payed . I specialize in these policies .


Input: Does Edward Jones Sell Annuities?

Output: Edward Jones does sell annuities . They have variable annuities and a few companies that offer fixed annuities . Choosing between the two will depend what your goals and objectives are . Your advisor should know what your tolerance for market fluctuation is and your long term investment objective . Annuities are great in the right situations .


Input: Is A Boat Covered Under Homeowners Insurance?

Output: The vision of boat varies dependent upon the person . For some a boat is a two person canoe and for others it is a 100 ft. yacht . Most homeowners policies provide coverage for a small pleasure boat . They generally exclude boats that have more than a specified amount of horse power . They will also restrict boats based upon their length . If you have a rowboat , call your agent and get a specific answer . If you have a ski boat call your agent for a quote on boat insurance .


Input: Is A Boat Covered Under Homeowners Insurance?

Output: It may be , but it is best to discuss this with your Insurance Professional in order to more fully understand the terms and conditions of your policy . It may be possible that a kayak , canoe or small sail boat may be covered under your Homeowners ' policy . However , motor powered boats or personal watercraft of a certain size or horsepower may require coverage under a separate boatowners ' policy .


Input: What Does It Take To Sell Annuities?

Output: Selling annuities takes a solid understanding of taxation since a key feature of annuities is its tax deferral . Tax deferred annuities also use three basic crediting methods you 'll need to learn : fixed interest rate crediting , indexed crediting and separate sub account crediting -LRB- or debiting . -RRB- If you decide to offer the full array of tax deferred annuities you 'll need to secure your life insurance license from your state department of insurance and your series 6 or 7 with a series 63 for your state offered through your broker/dealer via FINRA .


Input: What Does It Take To Sell Annuities?

Output: To see fixed annuities , it takes an insurance license in Life and Annuities -LRB- the Life license covers both -RRB- . To sell variable annuities , it takes a series 6 -LRB- limited investment securities license -RRB- or series 7 license . The latter entitles the representative to work with all types of securities products , minus commodities and futures . If the agent selling fixed annuities needs to roll over funds from a qualified plan into the fixed annuity , a series 6 or 7 license is also required .


Input: Is Breast Cancer Covered By Critical Illness Insurance?

Output: Most critical illness plans pay a benefit for any type of internal cancer including breast cancer . You particular plan may pay a reduced benefit for stage 0 or cancer in situ , but a benefit should still be payable . Read your policy carefully and ask your agent to explain the benefits of your plan .


Input: Is Breast Cancer Covered By Critical Illness Insurance?

Output: Many Critical Illness insurance plans exclude cancer in situ . Breast cancer is being caught earlier and earlier , and many cases are DCIS -LRB- Ductal Carcinoma In Situ -RRB- . However , just because they are in situ does not mean that aggressive treatment is not needed . So you need to review your policy to see if breast cancer is covered in its earliest stages . Most critical illness policies do cover breast cancer beyond the DCIS stage .


Input: Is Breast Cancer Covered By Critical Illness Insurance?

Output: Check your policy -LRB- or policy to be purchased -RRB- benefits as not all critical illness plans are built equal . Although cancer coverage is typically built into a policy , not all stages are covered . A good rule of thumb however is that any melanoma is covered and cancer in situ is not .


Input: Where Do Annuities Come From?

Output: An annuity is a contract with the annuity holder and a life insurance company . Therefore , to purchase an annuity , you would consult with a Life insurance agent who will submit your application to the life insurance company of your choice . Some Life companies offer more annuity options than others , and some companies are more secure than others . It is important to be sure you are working with a solid life insurance company when purchasing your annuity .


Input: Is Term Life Insurance Allowed In Islam?

Output: Due to all insurance products use of interest and chance there are those within the Islamic faith who believe that it is haram or sinful . Due to the spiritual nature of this question , you are best advised to seek the advice of an Imam who can better guide you on Islam 's position regarding term life insurance and other forms of insurance .


Input: Can You Take Money Out Of A Retirement Plan?

Output: Taking money from your qualified retirement plans should be a last resort , as this is money set aside for your golden years . That being said , most plans permit plan participants to borrow money from their account with a relatively low interest rate . Most plans require a pay back schedule , which in many cases , restricts transfers to other plans until the loan is repaid .


Input: How To Compare Home Insurance Quotes?

Output: The obvious answer is by the numbers . There really are 2 ways to go about it , but one really I think is preferable . The first way is tp just tell everyone about the location and how much coverage you want on the house . Everyone quotes the same dwelling amount so that 's a good way to compare it would seem . However , That probably is n't the way the coverage would be actually underwritten . Look for an agent who is willing to take the time to see the property , inspect it and prepare a recommendation based upon a completed reconstruction analysis . Look for an agent who will then take the time to discuss the features and benefits of the policy and also identify discount opportunities . In other words , do n't just compare the numbers , compare the professionalism and service . If you see that just for the quote process , it 'll surely be there for the claim process should you ever need it .


Input: Which Is The Cheapest Home Insurance?

Output: Dwelling fire coverage is typically the least costly coverage for homeowners insurance . This type of policy will typically provide coverage for named perils only . Most homeowners purchase a comprehensive homeowners policy with broad coverage . This type of policy is the most inclusive for coverage . To get a better understanding of the types of homeowners policies available within your area , contact a local agent to discuss your wants and needs for your homeowners policy .


Input: Which Is The Cheapest Home Insurance?

Output: The cheapest homeowners policy is the one that pays the maximum amount possible when you have a claim . That is when you can really determine the value of an insurance policy . What you have paid in premiums will likely be insignificant compared to the recovery when you have a claim . If the policy fails to deliver at that crucial time it will have been the most expensive home insurance policy .


Input: How Does Borrowing From Life Insurance Work?

Output: The way policy loans work vary by product and company but the basic idea is that you can borrow from an asset you own . Policy loans are possible on cash value life insurance once it accumulates enough cash surrender value . Each policy contains provisions which explain how policy loans can function for that particular contract . You can ask your agent or the insurance company directly for the loanable value of the policy . Unlike most conventional loans from a bank however , repayment is actually not required . If the loan is not repaid prior to the death of the insured , the amount will simply be subtracted from the policy , reducing the death benefit . Taking a policy loan is not the same as withdrawing cash values . The insurance company will charge you interest on the money you receive from the loan . In most policies , dividends are not paid -LRB- or on non participating policies , the interest rate credited is reduced -RRB- on the amount of the cash value impaired by a loan . In other words , there is usually a material net cost of borrowing which will add drag to the policy over the years . Usually , policy owners call up the insurance company , request a policy loan and do not repay it or the loan interest over time . In this case , the interest will be added to the loan , and loan will continue to accrue interest at an even greater rate . If the loan exceeds the cash value , the policy will eventually lapse . Whats worse , any gain -LRB- gross cash value minus premiums paid -RRB- becomes taxable income . Obviously , this should be avoided , so it is especially important to work with your life insurance professional to manage your policy carefully . Note that interest rates and loan provisions vary widely for policy loans : recent product innovations through loans have become quite complex . Since some policies are better than others for taking policy loans , your life insurance professional can help identify the best way to proceed whether analyzing a policy with an existing loan or planning the purchase of a new policy with the idea of taking policy loans in the future e.g. to supplement a retirement plan .


Input: What Is The Difference Between Homeowners Insurance And Home Warranty?

Output: Homeowners insurance is designed to cover your home and possessions if they are damaged in a covered loss or stolen . It also protects you in a lawsuit . It is totally different than a home warranty . A home warranty just covers you for undisclosed problems when you purchase a home . It does not cover your belongings , structure damage caused by fire , wind or other perils , liability , or theft .


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

Output: Not all life insurance can be used for retirement funding , so be careful with that . If done right Permanent life insurance products can be utilized as an income source in retirement . The most reliable for this purpose is Whole Life . Obviously variable products can work , but they have inherent downside risk . Whole Life on the other hand has guaranteed interest and with mutual companies dividends also play into the cash accumulation of the policy . So the cash value of the Whole Life policy can be used to supplement retirement income by systematically taking sums out from the cash value that has accumulated over the years leading up to retirement . Be sure to work with your insurance adviser and run some projections on this before planning on easy street in retirement .


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

Output: There are a few ways to accomplish retirement funds with a well funded whole life insurance plan . The most popular would be to borrow the cash value on a monthly income basis . You will pay a small interest rate in order to borrow the funds . However , this will do two important things . One borrowing funds keeps your policy and death benefit in force and second these funds become tax free income for your retirement . Always consult with your trusted advisor to avoid costly mistakes .


Input: How Will My Health Insurance Be Affected By Obamacare?

Output: Your health insurance coverage will be impacted in many ways by Obamacare . Firstly , it is likely that your rates will increase . In some cases , it may substantially increase . However , if you qualify for a federal tax subsidy , that will reduce your premium . Plan availability will decline as less carriers offer a lower amount of policies . However , medical questions will not have to be answered when you apply for coverage . Open Enrollment begins in October for 2014 plans . Applying will be available through multiple sources . Utilizing an experienced broker 's website will allow you to compare multiple plans at the lowest available rates . We will be ready for the rush of customers that will need coverage .


Input: When To End Term Life Insurance?

Output: Assuming that the term life insurance was purchased to cover a temporary financial liability , does that liability no longer exists ? Never terminate coverage until your debt is retired , future obligations secured and charitable intent completed . If any of these items are ongoing , you should consider converting your tern insurance to permanent life insurance .


Input: When To End Term Life Insurance?

Output: The term insurance plan has a stated end date . Some plans allow you to continue coverage at greatly increased premiums . The best time to terminate the policy on your terms is when your obligations have been fulfilled and no one that you love will suffer financially at your passing . Since these are the primary reasons people buy life insurance it would seem unnecessary to keep the policy if those needs did not exist any longer .


Input: When To End Term Life Insurance?

Output: That is a great question ! The absolute best time to cancel it is when you no longer need it - if the debt you 'd gotten the policy to cover is paid off , cancel it . If you got it to act as life insurance , then try to convert it , or cancel it before the stated term ends - it will increase in cost exponentially after that point . If you need help , please contact me , okay ? Thanks for asking !


Input: When To End Term Life Insurance?

Output: A good time to end Term Life Insurance is right before it enters the annually renewable premium at the end of the term . The premium goes up very high then and will continue to go up each year . If the coverage is still needed and health makes it prohibitive or impossible to get a new policy , it is better to convert the Term policy to Whole or Universal Life at that time . If you wait until the Term expires , the * conversion privilege is lost , so it is important to address this before the term ends . * Some Term policies do not offer the opportunity to convert , and for some , the ability to convert them to permanent ends after a set number of years rather than to the end of the term .


Input: Does A 60 Year Old Person Need Life Insurance?

Output: Does a 60 year old need life insurance ? To answer this question a person must find a 60 year old and ask do you need life insurance ? To get to that answer maybe a few others questions would be necessary to ask , such as ... Do you still have a mortgage ? are you married ? Do you have a pension and want to take the full benefit ? Does anybody in your family still depend on you ? Do you want your wife or your kids to suffer when you pass ? Did all your plans for retirement work out exactly as you 've planned ? Still a ton of questions to ask . Most of my business is based on 60 + year olds discovering they need life insurance .


Input: Does A 60 Year Old Person Need Life Insurance?

Output: Without analyzing a persons full situation , it is near impossible to make a recommendation . Most anyone requires some sort of life insurance , even if it 's just enough to bury the deceased . The idea is to pay less for getting a larger return of cash when needed . By leveraging your dollars over a long period of time , it can help pay for final expenses . If a person needs more cash on hand for estate purposes , there is no cheaper way to pay for the benefit needed than life insurance , if in proper health .


Input: Does A 60 Year Old Person Need Life Insurance?

Output: The answer to the question in most cases is yes . As we get older we get closer to death , it is a fact of life . When we die , someone will have to pay our final expenses and any debts we may incur . We may wish to provide for those we love and help relieve the burden of loss . Life insurance provides that and more .


Input: Does My Geico Auto Insurance Cover Rental Cars?

Output: Geico auto insurance , like most companies can cover the cost of your rental car if it is used as a substitute vehicle . This assumes your vehicle was involved in a covered accident and you have added -LRB- if needed -RRB- the rental car provision on your policy . It typically provides coverage for a rental vehicle for up to 30 days .


Input: Who Has The Best Term Life Insurance Rates?

Output: Unfortunately , there is no one carrier that has the best all around term life insurance rates . The rates and which carrier is competitive depends on your personal demographics -LRB- age , sex , smoker ? , coverage amount , length of coverage , height/weight , health history , etc. -RRB- . Who is going to have the best rates is a truly independent insurance broker that can look specifically at your demographics and get you the right coverage at the right price . It is also important to make sure that when applying for a policy your health history is evaluated properly and placed with the right carrier . If you are looking to price a term life insurance policy , feel free to go to : WEBSITELINK


Input: Which Auto Insurance Is Best For Me?

Output: Well , we need to know more about you . The first issue is where do you live ? Property and Casualty Insurance is regulated by the individual states . So , where you live will help shape all of our other answers to your question . If you are looking for auto , home , condo , renters , life insurance and live in GA , TX , AZ , MO visit us on line at www.insurancebrowser.com


Input: What Is The Tax Penalty For Not Having Health Insurance Under Obamacare?

Output: The first year penalty is only $ 95.00 and will gradually increase . In 2016 the penalty will be adjusted to the CPI or Consumer Price Index . Most people will qualify for a subsidy to pay the monthly premium . Those individuals between 133 % & 400 % of FPL or Federal Poverty Level . The amount varies by state , in NM for example , if an individual makes less than $ 45,900 Modified Adjusted Gross Income , & $ 92,000 for a couple filing jointly , they will qualify for a tax subsidy . The less you make the larger the subsidy . There is catastrophic coverage available for those under 27 years of age . Bronze which pays 60 % , with a 40 % member coinsurance , Silver 70/30 , Gold 80/20 , & Platinum 90/10 . My company is licensed in several states , feel fee to contact me with additional questions . Or to get qualified through the Health Care Marketplace starting October 1st , 2013 . Enrollment runs through December 31st , 2013 . Coverage to begin January 1 , 2014 .


Input: Is there an insurance dictionary covering all specialist insurances?

Output: This website is the closest I could find to a what might be described as an insurance dictionary . WEBSITELINK As you can see , it explains approx 80 different type of insurance specialties . I regret that I was not able to find any relating to professional indemnity key words and explanation of terms .


Input: What Kind Of Insurance Is Long Term Care?

Output: Long term care is a morbidity insurance product to help mitigate the cost of assisted living and/or nursing home confinement . The # 1 retirement risk is human longevity , that can place stress of fixed incomes for seniors . Long term care insurance can help with these expenses that generally occur later in life .


Input: How Long Can A Child Stay On Auto Insurance?

Output: Car insurance works differently than health insurance . There is no magical age or employment status that drives your children 's ability to ` be on ' your auto policy . If your child owns their own vehicle , then really that becomes the point at which they should have their own policy . To complicate things , if they still live with you then they must be listed as a driver on your policy as well -LRB- you would also have to be listed as a driver on their policy -RRB- . If they have moved out of the nest and do not have a vehicle , they can still be listed as a driver if they are regularly furnished one of your vehicles . This may help them when the time comes that they are purchasing their own policy in showing continuous coverage . So in summation , if they are living in your household or regularly furnished a vehicle then they must be listed as a driver . If they own their own vehicle then they should have their own policy . Speak with your broker to make sure this is the case in your state .


Input: Can You Make Good Money Selling Life Insurance?

Output: You can make good money selling life insurance , or you can make no money selling life insurance . Those who are really good at it tend to attract more and more clients , and do exceptionally well . On the other hand , those who struggle tend to move on fairly quickly , because it can be a brutal industry if you are not doing well . Most people are paid by commission only , and expenses can easily eat up profits . When there is a split in commissions , the pie often seems too small . Most insurance sales people fall somewhere in the middle and make a decent living at selling life insurance . With some good breaks , they have years where they make good money . And if you like what you are doing , that can be a worthwhile career .


Input: Who Sells And Services Medigap Insurance?

Output: There are several of the `` A '' rated insurance carriers that offer Medigap Insurance such as Mutual of Omaha , AARP United Healthcare , Humana and Aetna to name a few . However , the best place to buy Medigap Insurance is through an independent agent that specializes in Medigap . The agent will be able to show you plans from all the major carriers and help match your needs to the plan that will best fit your situation . It will make the process so much easier for you plus it is much easier to get in touch with the agent if there is an issue rather than sitting on a customer service line all day . There is no fee to you to use an independent agent . I would be happy to answer any other questions you have .


Input: Who Sells And Services Medigap Insurance?

Output: You can buy Medigap insurance direct through a carrier or use the services of an independent agent that represents several different Medigap carriers . When you buy direct from the carrier you pay the same price as working with an agent . The drawback to dealing direct is you will only be told about that carrier 's plans , you have no idea if the person you are talking to is knowledgeable about Medicare or if they were working at a fast food restaurant last month . When it comes to service you call an 800 number and hope a real person answers the phone that can help you . Most likely you will be routed to voice mail and then wait on someone to call you back . If you work through an independent agent you have the opportunity to check them out and get an idea if they understand the Medicare market enough to advise you , or if they are simply pushing products in hopes of earning a commission . I tell people how long I have been in the industry -LRB- 37 years -RRB- , which carriers I represent , and spend time listening to their questions and providing verbal and written answers . On several occasions I have been told that they learned more from me in 15 minutes than hours spent with numerous agents who insisted on coming to their home and then had to be told to leave . The method that works for you is the one you should pick . #GeorgiaMedigapPlanRates #GeorgiaMedicarePlans #GaMedigapQuotes


Input: Can You Negotiate Term Life Insurance?

Output: That is a great question ! If you find an insurance company that will allow you to negotiate with them , would you please drop me a quick note and let me know who they are ? Kidding aside , you will not find one . Insurance companies are the strictest of bean counters , and there is n't a one that will change rates for you . They are very strictly regulated , and in most cases , would have to change the whole rate group 's premiums to match whatever rate that you were able to negotiate . That is very , very unlikely to ever happen . I hope that helps , thanks for asking !


Input: Can You Negotiate Term Life Insurance?

Output: All life insurance is about mathematics . The companies deal with a mountain of statistics and design their policies based on hundreds of years of evidence . Their projections are very accurate and they operate on very slim margins . When the company offers to insure you should understand that is their best offer under almost every condition .


Input: Can You Negotiate Term Life Insurance?

Output: The rates are files in every state for every term life insurance product . What is generally not known is that the health classification is negotiable . Life insurance brokerage firms with an emphasis on underwriting and broad based production can usually work their relationships and use of insurance underwriting credits to their customers advantage .


Input: Can You Negotiate Term Life Insurance?

Output: If you are asking about negotiating rates for individual term life insurance then the answer would be `` No '' . Each life insurance carrier has their own actuarial models they use to develop the rate tables for their products which they in turn file with insurance departments . So , it 's pretty much a `` what you see is what you get '' quoting environment . Sometimes , if you are rated up during the underwriting process because of information gathered from the Medical Information Bureau -LRB- MIB -RRB- or from results of a medical exam taken to qualify for the coverage and you successfully challenge these decisions -LRB- not a real common occurrence -RRB- you might see an reduction of or dropping of the proposed risk adjustment . If you are wanting to get the best pricing possible for term life insurance then the best thing to do is shop around among different life insurance carriers . If you are talking about group term life insurance policies , then if you are bringing enough employee lives to the table and represent enough premium volume to make it worth an insurance carrier 's time , you may be able to negotiate a better price or get a bundling discount for purchasing other insurance products from that insurance carrier .


Input: Can You Negotiate Term Life Insurance?

Output: Can you negotiate Term Life Insurance ? That is a great question . Many people think that life insurance companies hold sales , and ads can easily give people that impression . But life insurance actually has set rates , and the only negotiable part may -LRB- or may not -RRB- be what you are rated . Most life insurance companies must justify to their reinsurer -LRB- s -RRB- the rating that they give an applicant , which means sticking to underwriting guidelines . That is why you can often get a better rate by shopping with an agency that carries many different companies , because you can take advantage of a variety of underwriting guidelines and find the one that works best for you . Sometimes , when a rating is given , extra information can be provided to the underwriter to convince him/her to improve the rating . Sometimes knowing that another company rated you better can help bump your rating up . These are possibilities that could result in you paying a lower price . But how the life insurance itself is priced is not negotiable .


Input: Can You Negotiate Term Life Insurance?

Output: No , the rates for Term Life Insurance are set by the carriers and they are not able to change them at will . However , there are different term lengths , so if you can not afford the premium for a longer term , you may be able to choose a shorter term , instead .


Input: Does Homeowners Insurance Cover Water In Crawl Space?

Output: There are significant exclusions in homeowners policies regarding water . The company is pledged to pay for damages and the existence of water under the home might fail to meet that definition . If the water is there because a water line inside the house suddenly burst , your company might pay for removing the water that collects beneath the house . If the water under your house came from some other source , coverage will likely be denied .


Input: Will Renters Insurance Cover Flooding?

Output: Renters Insurance may cover water damage ; however , Flood Damage generally would not be covered . Flood is typically defined by rising waterfrom the exterior of the dwelling . It is important to check your specificRenters Insurance Policy and verify both the Definitions Section as well as the Exclusions Section of the policy . If you need further assistance , you may contact your insurance carrier for detailed assistance . There is a link providing an online format to obtain a quote and buy renters insurance online in multiple States ; may be useddirectly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: Is Homeowners Insurance Negotiable?

Output: Homeowners Insurance premium is not Negotiable!Insurance companies hire the services of actuarial firms to calculate the premium necessary for each type of risk ; the very skilled services of actuaries are crucial to the liquidity of an insurance company . Some States require that the premium and underwriting structure be submitted to the Department of Insurance for approval prior to release to the public ; other States simply require that the premium and underwriting rules are set in writing before release . The only way to change the premium of a policy is to either qualify for a discount , change the deductible or change the limits of coverage . It is a good idea to obtain your quote online in advance and with today 's technology , you 'd be able to change options and simply see the premium change as you change your desired options . There is alink providing an online format to obtain a quote and buy home insurance online in multiple States ; may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: Is Homeowners Insurance Negotiable?

Output: While technically not negotiating a homeowner could take exception to the estimated cost of repair calculation . Companies will sometimes accept the letter of a licensed contractor who agrees in advance to repair a home for a specific price . Once the limits are agreed upon the insurance company must operate within the approved rating structure filed with the state insurance commissioner .


Input: Is Homeowners Insurance Negotiable?

Output: -- > Normal 0 With no disrespect , my response to this question might be slightly different . Every insurer may have a rating structure they use to calculate a premium but rates will vary from insurer to insurer and one insurer may have several rating tiers they can use for pricing flexibility . So my response to this question would be , yes , you may be able to negotiate more favorable rating treatment if you request it . So dont be afraid to pursue the availability of additional discounts , preferred rating treatment for good credit , recent structural upgrades , no prior claims , multiple policies with the same insurer , etc. .


Input: What Is The Current Medicare Part B Deductible?

Output: The Medicare Part B deductible for calendar year 2014 is $ 147 per calendar year . This means you must pay for the first $ 147 of all medicare approved charges . Once this deductible is met , your medicare part B coverage will generally pay 80 % of all remaining medicare approved amounts . Please note , this $ 147 per year deductible only applies to medicare part B , you may be responsible for additional copays and deductibles under medicare Part A.


Input: What To Do If Auto Insurance Claim Is Denied?

Output: That is a great question ! If your claim is denied , the first thing to do is find out why . If all that is needed is a police report , or something easily fixed , then you can get that accomplished , and resubmit the claim . You can always appeal the decision also , but if you need the car fixed top drive it , be aware that sometimes appealing can be a lengthy process . Get with your agent , and have them help you get the issue resolved . Good luck , and thanks for asking !


Input: What Is A Retirement Health Savings Plan?

Output: A retirement health savings account -LRB- HSA -RRB- plan is an account developed for pre tax or tax deductible contributions for medical expenses . It generally is attached to a high deductible medical plan . Some employer sponsored medical plans that include an HSA account also make contribution to their employee 's HSA account as an additional benefit .


Input: What Is The Cash Value Of Life Insurance?

Output: When an insurance company agrees to pay a death benefit whenever it occurs , it is called a permanent policy . In order to meet that obligation the company must reserve funds to offset the rapidly increasing cost of insurance in the later years of life . These reserves can be held in directed funds or in guaranteed funds . The guaranteed funds are known as cash value and appear in the policy itself . It is the amount that the company will give you if you surrender the policy . There are other options .


Input: What Is The Cash Value Of Life Insurance?

Output: Cash value of life insurance is an integral part of whole life and some universal life insurance policies . As funds accrue within policies in place for a long period of time , they may be used to help pay premiums or may be borrowed out for emergencies . Note that most policies of this type are structured to pay only the death benefit minus any borrowing . In some cases use of this money may cause a policy to lapse , so before borrowing make sure you understand the downside . Speak to your agent and ask for an illustration showing how the policy will perform if you borrow .