Input: What Is The Elimination Period For Disability Insurance?

Output: The elimination period for Disability Insurance is the time period between the time that the disability occurs , and the time when the Insured person collects the first benefit . For Long Term Disability Insurance , a common elimination period is 3 months , but it can be much shorter or much longer .


Input: What Is The Elimination Period For Disability Insurance?

Output: The elimination period for Disability Insurance is the waiting period between the time the disability occurs , and the time the insurance benefit begins to be paid . The elimination period is one of the variables of a Disability Insurance policy that can be adjusted to lower premiums -LRB- by making the elimination period longer -RRB- . If the applicant has very little savings on hand , they may want to pay more premium and buy a policy with a shorter elimination period .


Input: What Is The Elimination Period For Disability Insurance?

Output: Disability insurance offers several elimination or waiting periods before tax free monthly benefits are paid . Most Americans have 90 days of cash reserves for emergencies . If that we 're the case for you , a 90 day elimination period would first need to be satisfied after your claim before benefits started .


Input: What Is Medicare Fee For Service Contractor?

Output: Medicare is a fee for service program . A doctor or hospital can agree to accept Medicare patients and thus contract with Medicare to accept the rules and conditions imposed by Medicare , or they can opt out of the Medicare program , in which case a medicare patient would be responsible for payment if they go to that doctor or the doctor can simply refuse Medicare patients . The same is true for hospitals or other facilities .


Input: Is Renters Insurance Worth It?

Output: As with any type of insurance coverage worth is defined by the user . If you pay premiums for years without a claim you may begin to believe that the coverage is not worth the cost . Insurance is purchased for those few times in life that catastrophe happens , at these moments aperson experiences a financial loss that is far beyond there financial capabilities to handle on their own . To gain futher insight into the available coverages and the cost associated with them , call a local agent to have them explain them to you .


Input: What Are The Different Types Of Life Insurance?

Output: Video Transcript : Today 's question is , `` What are the different types of life insurance ? '' Well , you have term life insurance in 5 , 10 , 15 , 20 , 30 , sometimes even 40 years . You have permanent forms of life insurance , participating whole life . You have current assumption Universal Life . You have indexed Universal Life . You have variable Universal Life . These are all different types and forms of life insurance . Depending upon if you need temporary coverage or you need permanent coverage will dictate what area you 'll go in . Then in the second area , if you 're looking at permanent insurance , are you using this exclusively to cover and protect or are you going to add this on as part of your supplemental income retirement plan to add on to maybe your traditional 401 -LRB- k -RRB- or whatever other retirement plan you have . It 's interesting . If you 're going to do that , you 're going to need to do a risk tolerance to see how you feel about long-term hold positions with life insurance and which one that you 're going to use whether it 's interest rate , indexed or separate sub-accounts .


Input: What Are The Different Types Of Life Insurance?

Output: Steve named several types of life insurance above here , and Peggy named the 2 main categories : Term and Permanent . However there are a number of other types of life insurance designed for specific situations . For example there are `` Buy Sell Agreements '' which is insurance designed for business partners . That type provides for the buyout of the deceased partner 's interest so the surviving partner -LRB- s -RRB- can retain the business and the deceased 's survivors do n't loose out on income . Similarly there is `` Key Man '' insurance where a company insures the life of a key person so that the company does n't suffer over much due to the death of that key person . There are joint and survivorship life policies where married couples are both insured under the same policy . One type pays the death benefit on the death of the first to die , the other pays the death benefit on the death of the last to die . That one is usually designed to pay for estate taxes so the beneficiaries of the estate are n't hit with a huge tax bill . And there are more !


Input: What Are The Different Types Of Life Insurance?

Output: The two main types of life insurance are Term and Permanent . Term insurance is designed to provide protection for a set number of years . When the term ends , the policy ends , or else jumps up in price so much that most people do not continue it . Permanent insurance can be set up to last the rest of your life . It can have cash value . . The most popular types of Permanent insurance are Whole and Universal Life .


Input: Is It Good To Switch Auto Insurance?

Output: It 's always good to weigh your options and possibly save money ! You do want to be careful , however , because you will lose any loyalty discounts or accident forgiveness you have with the previous company.Shopping for better rates , better service , or better coverage options is something that could certainly help , your wallet and your future .


Input: Which Life Insurance Is Best In Wyoming?

Output: The best life insurance is Wyoming is the one that has the best price , is from a solid company , and has guarantees on the premiums and other features . That varies widely from person to person . In order to find the best life insurance for a resident of Wyoming , you can go to a website that offers life insurance in Wyoming , or visit a local life insurance agency . An agent will guide you to the best priced policies for your health and share the features and company ratings so that you can make a good choice .


Input: Which Life Insurance Is Best In Wyoming?

Output: Because life insurance can be customized to meet an individual 's specific needs , an because most all US life insurers do business in Wyoming , it is very difficult to declare which life insurance is best in Wyoming . To get a better idea of what might be best for you , you should seek out the advice of an agent who is licensed to do business in Wyoming and discuss your specific needs with that agent .


Input: What Is The General Rule For Taxation Of Personal Life Insurance?

Output: Life Insurance proceeds to the Beneficiary , are not taxed . The proceeds are part of the estate of the policy holder , and count against any limits that may be imposed on that now deceased policy holder . It is rare that the policy holder would have exceeded their estate tax limits , but if so , it is taxed against the estate . Again , the Beneficiary takes Tax Free . Gary Lane , Registered Representative , New York Life . 949 797 2424 . Thank you .


Input: What Is The General Rule For Taxation Of Personal Life Insurance?

Output: Generally , life insurance proceeds are income tax free if left to a beneficiary that is a person or organization . Federal and state estate taxes can be charged if the life insurance proceeds of are sufficient amount to bring the estate over the exempted amount . The estate taxes may be paid by a separate life insurance policy , or taken out of the estate . The policyholder may stipulate whether or not the beneficiary needs to share in paying those .


Input: I'm Pregnant Can I Still Get Health Insurance?

Output: If you 're pregnant , you can get quality health insurance from the top companies . As one of the nation 's leading brokers , this is one of the most common questions we answer . The Affordable Care Act -LRB- Obamacare -RRB- mandates maternity benefits , which means it is a required benefit on Exchange plans , The cost ? Cheaper than you may realize ! LIVE answer provided by : Ed Harris - Premier health insurance broker for 33 consecutive years and owner of several top-rated websites that offer the lowest available rates .


Input: I'm Pregnant Can I Still Get Health Insurance?

Output: Yes . Under the new Affordable Care Act , you can not be declined for health insurance for any medical-related conditions . Each policy is required to cover 10 essential health benefits - one of these essential benefits is maternity care . It 's always helpful to consult with an experienced health insurance broker who can work with you on a personal level , discuss what your specific needs are , and compare multiple companies and their plans to determine which plan is going to be most suitable to meet those needs . 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: Which Car Insurance Company Is Best?

Output: Car insurance companies that do business in your state are regulated by two state insurance commissioners , your state and the state where the company is domiciled . Your state commissioner is trying to allow companies to operate in your state that will keep their promises . The best auto insurance company is one that keeps its promises .


Input: What You Can Claim On Medicare?

Output: What can be claimed on medicare is probably a longer list that I could enter here . However , I would say that Medicare -LRB- or any health insurance -RRB- would cover 2 basic categories . One is preventative care , such as routine physicals , mammograms , etc. . The other is medically necessary care , which covers you when something is wrong . This would include items like doctor visits , lab testing , diagnostic testing , emergency room , hospitalization , etc. .


Input: What Is The Worst Car To Own In Terms Of High Insurance Premiums?

Output: Look at this from two points of view . From the liability point of view the most expensive car to insure is one that has a great deal of power and can accelerate quickly . From a physical damage point of view the most expensive car to insure would be a car that is in limited production and has features that make it difficult to repair . What comes to mind would be a high powered sports car with a retractable metal roof .


Input: How Many People In The US Have Health Insurance?

Output: Over 47 million nonelderly individuals were uninsured in 2012 . This represents a decrease of almost 2 million uninsured people since 2010 . This change resulted from small gains in public coverage and stability in private coverage . However , the number of uninsured is still more than 4 million higher than when the recession began in 2007 . The continued weak economy contributes to the high uninsured rate . More individuals would have become uninsured were it not for the stability of coverage provided by Medicaid and CHIP .


Input: How Much Long Term Disability Insurance Should I Get?

Output: When purchasing long term disability there are two factors to determine how much to purchase . Most disability insurance companies will allow you to purchase enough benefit to cover up to 70 % of your current income . That is always the optimal amount to purchase . However , the second factor usually determines the amount . How much monthly premium can you comfortably afford ? The best disability insurance plan is worthless if you ca n't afford the premiums , drop or cancel it and then become disabled .


Input: Can I Recoup Damages From Poor Quality Work Done By A Licensed And Insurance Contractor?

Output: Your best option is to file a claim against the contractors insurance company . There may be coverage under the products and completed operations portion of the contractors policy potentially . You can check with the contractor license board to see who the contractor was or is insured with and then call the insurance company to request a claim be opened . The insurance carrier would then have to investigate for coverage . Even if the contractor no longer has the insurance or is in business if there was an occurrence policy with no sunset you may have a recourse .


Input: Can Life Insurance Check Medical Records?

Output: Yes - life insurance companies can check medical records when you apply for coverage , regardless of whether you 're applying for a fully underwritten program or a no-exam life insurance program . The reason they can do this is because you are granting them access when you apply for coverage by signing a HIPAA authorization form . HIPAA was created to help protect the confidentiality and security of healthcare information . The HIPAA form authorizes the carrier to obtain needed medical information for the purposes of underwriting your program . Typically , the carriers may only order a copy of the records when you apply for a certain level of coverage or length of coverage because of the expense involved in doing so . For small policies -LRB- e.g. $ 25,000 , $ 50,000 , $ 100,000 , etc. -RRB- , carriers will generally feature more relaxed underwriting and have fewer requirements . I hope the information is helpful - please feel free to contact me for help with your program or if you have any other questions . Thanks very much .


Input: Can Life Insurance Check Medical Records?

Output: Life insurance underwriters can check medical records . Unless you have a chronic condition , most life insurance companies do not regularly check medical records due to expense . They do regularly check your pharmacy records and MIB to verify your answers on your life insurance application . None of this is done without your signing a HIPAA form on the application and the insurance company adhering to HPAA guidelines .


Input: Can Life Insurance Check Medical Records?

Output: When you apply for life insurance , you are asked to sign a medical release form . This form allows your doctor to release medical records to the insurance company . It also provides a release to use the MIB or Medical Information Bureau . The MIB is where insurance companies keep basic information when people apply for insurance . If you have further questions , or feel I could be of assistance , please do not hesitate to contact me .


Input: Can Life Insurance Check Medical Records?

Output: Can a life insurance company check medical records ? The answer is yes and they normally do as part of the underwriting process . Usually a company checks your health history and also takes blood and urine to check your current health too . Are there companies that do n't do this ? Yes there are . However , do not expect the cost of coverage to be low in those cases . The fewer questions an insurance company asks , the higher the premium .


Input: Can Life Insurance Check Medical Records?

Output: If the underwriter feels that the information contained on the application is insufficient , they might order an attending physicians statement . When you apply for life insurance you sign a form giving the company the liberty to take that step . This step clarifies issues ; however it also lengthens the underwriting process and results in increased expenses . An amazing amount of information can be gathered by just listing the prescriptions that someone takes .


Input: Can Life Insurance Check Medical Records?

Output: Absolutely . If you are applying for any meaningful amount of life insurance part of the underwriting process is checking your listing in the Medical Information Bureau -LRB- MIB -RRB- and it is not uncommon for a request for medical records to be made if more detailed information on an indicated illness or injury is uncovered in your MIB search . This is partly for the insurance carrier 's protection and partly for the applicant 's . The MIB is not perfect , after all humans input the information , and on rare occasions erroneous information gets into the system or the information turned up in the MIB is not detailed enough to allow the underwriting process to continue without the more detailed information that should be contained in your medical records . Of course , the life insurance carrier can not get access to your medical records without your written consent and that is a standard part of the paperwork you will be completing when you apply for most life insurance policies .


Input: Can Life Insurance Check Medical Records?

Output: That is a great question ! Not only can they , but they absolutely do . In almost every policy that you apply for will be a paragraph or clausethat states you agree to giveyour consent to the companies search of your medical history and prescription records . It typically will have a waiver for two years of your HIPAA rights , and will tell you that an inquiry will be made to the MIB -LRB- medical Information Bureau -RRB- . This is done to protect them from people that may have forgotten their health history , or that may be less than honest in their answers when applying . I hope that helps , thanks for asking !


Input: Can Trusts Own Annuities?

Output: Many trusts can own annuities , but it depends on the trust . You should ask the lawyer you are working with if your particular trust may own an Annuity . Annuities can be used in trusts to guarantee growth or guarantee income for the beneficiaries of the trust . Annuities are a common tool in estate planning , which often uses trusts to accomplish goals .


Input: Does US Health Insurance Work Overseas?

Output: Most US health insurance plans cover out of country medical expenses . There are limitations on covered expenses when you travel out of country . It is always a good idea to purchase an international travel medical insurance plan to cover items not included in your US health insurance plan . Otherwise you could incur several thousand dollars in unpaid out of pocket expenses .


Input: What Is Joint Life Insurance?

Output: Joint life insurance covers two lives and pays out upon the death of either of the insured persons . Then it pays when the first person dies . The the title , `` First to Die '' life insurance . This is not `` Second to Die '' life insurance , where the policy only pays when both insured persons pass . Joint life insurance pays once and then the policy ends .


Input: What Is Joint Life Insurance?

Output: Joint life insurance refers to a life insurance policy that has a primary insured and a secondary insured , usually a spouse , on the same policy . There is usually a bigger down side to these policies than an upside . These type of life insurance policies are usually term policies and when the primary or the secondary dies the remaining spouse will lose their coverage . The spouse will be underwritten along with the primary , so there is not a huge advantage to these policies . I recommend purchasing separate term life policies to protect your insurability . These policies are also called First to Die life insurance policies .


Input: Can I Have 2 Health Insurance Policies?

Output: You can but you would be throwing your money away . Health insurance policies coordinate benefits . They will not pay more than 100 % of the bill . Deductibles and copay 's will still apply . You do not need to have more than one Major Medical health plan . There are some supplemental plans that pay in addition to your Major Medical . You might want to consider one of these .


Input: Does Homeowners Insurance Cover A Dog Bite?

Output: This is one question that you really need to speak with your Insurance Professional about . The answer is that it may or may not , depending on the specific coverage and exclusion provisions that are specifically stated in your insurance policy . Some companies exclude coverage based upon particular breeds , for example .


Input: Will Getting Married Affect My Car Insurance?

Output: Marriage is a rating factor for auto insurance so first off , congratulations if you are getting married and second , being married can have apositiveimpact on your rates . There are other factors to consider like multi car , age of additional drivers and possible even multi policy discounts . I would suggest for a big life change like marriage you consult your local agent for your insurance needs .


Input: Is Theft Covered By Homeowners Insurance?

Output: Discuss this with your Insurance Professional but you will more than likely find that loss due to theft is a covered peril in your Homeowners ' policy . Any loss such as this is of course subject to your policy deductible . It is probably also going to be required that you file a police report .


Input: How Do I Know My Auto Insurance Agent Isn't Ripping Me Off

Output: You would have to call the company that you have your coverage through if is not listed on your billing statement . I really hate to say this , but if you do n't know who your agent is then maybe it is time to find a new agent . You should be hearing from your agent once a year , if nothing else just so that they can make certain that you are still properly covered .


Input: How Do I Know My Auto Insurance Agent Isn't Ripping Me Off

Output: That is a great question ! I guess I 'd wonder why you think they would , but there are a couple of things that you can do to get an idea if they are . The first would be to get some quotes from other companies , and compare what you 're being charged . If there is a big difference , then you 'd want to find out why . The second would be to go to your State 's department of Insurance website , and check out their record . Are there complaints ? Any history of misdeeds ? If you really feel like the agent is taking advantage of you , then talk to someone , preferably the agent , and if that does n't work , get another policy from somewhere else , and drop that one . I hope that helps , thanks for asking !


Input: How Do I Know My Auto Insurance Agent Isn't Ripping Me Off

Output: As long as premiums you pay are reaching an admitted insurance company , the agent is probably not ripping you off . A telephone call to the insurance company can confirm that . If you feel you are being charged for coverages that you didnt want , most companies will make the adjustments over the telephone . If you discover that the agent has not paid for your policy , call the state insurance commissioner .


Input: Can Long Term Care Insurance Premiums Be Deducted?

Output: Disclaimer : The following answer is not to be considered tax advice . Contact a qualified tax professional before making any financial decision . Yes , long-term care premium payments may be tax deductible . It depends on the tax status of the individual or business entity filing an IRS tax report . The IRS annually publishes the limits on the amount of premium that can be entered into the tax return and where to enter that amount for consideration of tax deductibility . For non-business consideration , that would currently be `` Medical expenses '' in Schedule A . If by adding the allowable portion of the LTCi premium to Medical expenses causes the total amount of medical expenses to exceed the threshold -LRB- formerly 7.5 % of AGI , going forward 10 % of AGI -RRB- , then the amount beyond that threshold may be deductible . If not , then the allowable portion of the LTCi premium would not qualify for deduction . For business consideration , the portion of the premium allowable for possible tax deductibility is usually reported on Schedule C . At the present time , only a C-corporation may have 100 % of the LTCi premium considered for deductibility . The allowable amounts of LTCi premium for tax deductible consideration are age-based . For insured-ages 40 and under , the published allowable amount of the LTCi premium for 2013 is $ 360 . For those ages 71 and over , the published allowable amount of the LTCi premium for 2013 is $ 4550 . Between that minimum and maximum are various age brackets with different allowable amounts . Those amounts will be adjusted for income-tax-year 2014 and each year thereafter , under current tax law . Tax preparers , accountants , tax attorneys , and tax-preparation software are informed and are updated for each tax year .


Input: How Much Is Car Insurance For Teenagers In Ohio?

Output: the good news : Ohio is the cheapest state in the country for auto insurance . the bad news : auto insurance for teenagers is very still expensive no matter which state you 're in . but here are a couple tips for getting lower rates : - stay on your parents ' policy . unless there are special circumstances , it almost always comes out cheaper to stay on your parents ' policy than having your own policy . - shop around . companies have different appetites . the more companies that you get quotes from , the better your chances at finding lower rates .


Input: Can Group Health Insurance Deny Pregnancy?

Output: For all practical purposes the answer should be `` No '' . The Affordable Care Act -LRB- ObamaCare -RRB- requires coverage for maternity and newborn care to be covered as any other illness under its Minimum Essential Benefits requirements . Also , the Affordable Care Act forbids the application of pre-existing conditions exclusions or waiting periods to health insurance policies . During the last open enrolment period I enrolled a couple of previously uninsured women who were pregnant in the new ObamaCare compliant individual health plans offered in our state and they were covered immediately and had their delivery & other associated expenses covered . These same people would have been declined for coverage due to their pregnancies being defined as pre-existing conditions before January 1 , 2014 .


Input: Does Life Insurance Cover Both Spouses?

Output: There are a couple life insurance policies that `` cover '' both spouses . One is called a `` First to die '' policy where both spouses are insured until one of them dies . Then the surviving spouse becomes the beneficiary and the policy is terminate . IN a `` Last to die '' policy again both spouses are insured and the policy does not pay a benefit until the last of the two spouses die . Then typically the beneficiary is the estate and the policy is designed to pay the estate tax . Or the beneficiaries could be the children or anyone else . But those are the types of policies that cover both spouses in one policy .


Input: Does Life Insurance Cover Both Spouses?

Output: One life insurance policy does not cover both spouses unless you purchase a joint policy , or a survivorship policy -LRB- and then it would only pay out upon the death of the second person -RRB- , or if you added a rider on one policy to cover the spouse . Otherwise , the spouse will need to purchase a separate policy .


Input: Does Life Insurance Cover Both Spouses?

Output: Typically , each person has there own life insurance policy . However , a spousal rider can be added to a life policy to be included . This can cause an issue depending on how it is written . Some cases , if the primary dies first and the death claim is paid , the policy ends and the spousal rider no longer exists leaving them uninsured . I recommend buying personal policies for a number of reasons such as divorce , terminal illness , chronic illness which can cause contract issues in the future when two people are on the same plan .


Input: How Does High Deductible Health Insurance Work?

Output: The deductible is just the amount you the insured are responsible to pay out of pocket . The actual insurance works the same assuming all things are equal on policy type . So for example one person may have a $ 1,000 deductible and another may have a $ 10,000 deductible . Let 's say both parties have medical bills that equal $ 50,000 . Assuming there is no co-pay the first party will pay their $ 1,000 deductible and the insurance company will be $ 49,000 and the second party will pay their $ 10,000 deductible and the insurance company will pay $ 40,000 . However the party with the $ 1,000 deductible will pay a higher monthly premium for the insurance due to carrying a lower deductible so you need to do the math and evaluate what you can handle . Many people will carry the higher deductible to carry a lower premium assuming they are in good health and will pay out of pocket for the small stuff . However if something catastrophic occurs their worst case is $ 10,000 .


Input: How Much Would Health Insurance Cost Me?

Output: It will all depends . Health Insurance quotes are based on age , health , weight , past medical history and whether you are single , single with children , married or married with children . Insurance companies have various prices so you have to shop around to find out just what you would be expected to pay . Keep in mind that the price will also be impacted by the co insurance and deductible chosen as well .


Input: Does My Renters Insurance Cover My Storage Unit?

Output: A renters policy will typically provide up to ten percent of the coverage amount for personal property off premise . If you have a policy with twenty thousand dollars of coverage then the policy would typically provide up to two thousand dollars of coverage for personal property off premise . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: When Do You Pay A Health Insurance Deductible?

Output: A health insurance deductible is the amount you must pay before your benefits `` kick in '' and begin paying -LRB- for most services - some benefits , such as preventive care , provide coverageimmediately -RRB- . The deductible amount varies by plan . For example , under the new Affordable CareAct , a catastrophic plan may feature a $ 6,350 deductible , a bronze plan may feature a $ 5,000 deductible , a silver plan may feature a $ 3,000 deductible , a gold plan may feature a $ 2,000 deductible , and a platinum plan may feature a $ 0 deductible . These figures are not the same for all plans on each metal level . 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: When Do You Pay A Health Insurance Deductible?

Output: You pay the health insurance deductible when you begin incurring medical expenses . The purpose of the deductible is to discourage unnecessary utilization . If you do not visit the doctor or go to the hospital during the plan year there is nothing to pay beyond the premium costs . On the other hand , if you do utilize medical services , you are responsible for 100 % of those expenses until reaching the plan 's deductible .


Input: How Does Key Person Life Insurance Work?

Output: One example of key person life insurance would be to guarantee a quick and easy sale of the business upon the owner 's death . For example If the owner has a wife and children that are not active in the business and would have no idea how to run it , they would probably sell it in a distressed manner if the owner died unexpectedly . If he has a key manager that would be the likely person to sell it to they can purchase a life insurance policy on the owner 's life with the key man as the policy owner . The business can bonus the money to pay the premium to the key man . An attorney will write up a buy-sell agreement and the if the owner dies , his manager has the money and an agreed on price to buy the business from the widow . This makes the transition much easier for the widow PLUS has the benefit of keeping your key employee from straying off and being attracted to greener pastures . When there are multiple business owners , they each need a life policy on each other plus a legal agreement so they can buy out the spouse 's interests if one of them dies . They do n't want a business partner just because she/he happened to be married to their former business partner .


Input: How Does Key Person Life Insurance Work?

Output: Most businesses have key employees who are impact players in the company . The company depends on their performance and they 're vital to the future of the business . Placing key person life insurance on them can protect the business from the death of a key employee and provide cash to recruit and train a new employee .


Input: How Does Key Person Life Insurance Work?

Output: This appears to be a simple question ; however , publicly traded corporations have found that by purchasing key person policies on senior executives they can provide lavish payouts when that executive leaves the firm . The idea is simple ; the corporation has an insurable interest in the life of the executive . There are costs of securing a replacement and it the loss of a key employee can affect the companys ability to borrow money . All these factors and many others make these senior executives very valuable . The corporation can insure them to make up the financial impact that their unexpected death would make . By using cash value life insurance they can also accumulate a large amount of cash which will ease the transition when the executive leaves .


Input: How Does Key Person Life Insurance Work?

Output: Usually , the way Key Person Life Insurance works is that the employer or business takes out a life insurance policy on an important employee in the company , one that is vital to the success of the business and would need to be carefully replaced if he or she died . The employer or business pays the premium and and is the beneficiary . If death of the key employee occurs , the business has money to protect them from loss of production and solicit and train a new employee to replace the key person .


Input: How Does Key Person Life Insurance Work?

Output: Key Person -LRB- Key Man -RRB- is a life insurance policy purchased with the intention of compensating the business for the loss of services of an important -LRB- key -RRB- person due death . Often the key person is a `` rainmaker '' that is responsible for a significant portion of the business revenue . In some situations the loss of the key person can create a financial strain on the business , even to the point of forcing the business to close or sell at a loss . In a key person life insurance plan , the key person is the insured ; the business is the owner , premium payer and beneficiary . Key person premiums are not tax deductible to the business . The policy proceeds are not taxable .


Input: How Does Key Person Life Insurance Work?

Output: In most business scenarios there are rainmakers , those who generate revenue and admin operators , those who run the day to day internal process of a business . Business owners want to protect these key employees with life insurance and -LRB- disability for that matter . -RRB- In the death of such a key employee , the business would be paid the proceeds of the policy to continue functioning .


Input: Can You Be Covered By Two Health Insurance Plans?

Output: Health Insurance - can you own 2 policies ? yes . Will they both pay out concerning a claim ? Maybe , maybe not . It depends on the nature of the policy . You can purchase a major medical plan and then back it up with an accident plan or other type of supplemental . Depending on the state in which you live buying 2 identical major medical plans with the idea of eliminatng your cost never seems to work and put you in a bad position . Start with the major medical plan and then backfill it with one or more supplemental plans . This is more cost effective .


Input: What Are The Qualifications For Medicare In Rhode Island?

Output: The qualifications for Medicare in Rhode Island are the same as in other states , since Medicare is a federally administered health insurance program . Very broadly speaking , you must have contributed to Medicare through taxes for at least 10 years PLUS be 65 , be on Social Security Disability for 24 months , have End Stage Renal Disease , or have Lou Gherig 's Disease to get on Medicare .


Input: Can Whole Life Insurance Be Cashed In?

Output: Participating whole life insurance , like any cash value insurance can be cashed in by the policy owner . Of course , cashing your policy in will leave you with no coverage , but there also maybe tax ramifications as well . If there is any gain in the contract , there will be an ordinary income tax event .


Input: Is Squirrel Damage Covered By Homeowners Insurance?

Output: No . Most home policies will exclude damage by Rodents . That includes Squirrels ! There have been some lawsuits about damage by Rabbits , since they are n't Rodents , they generally do n't fall under the Rodent exclusion , so if you have damage by Rabbits you would want to check your policy to see if they have added an exclusion for damage by Rabbits . It varies by the insurance company . Let me know if I can do anything to help !


Input: What Is Considered A Lapse In Health Insurance?

Output: A lapse in health insurance occurs when you fail to make prompt premium payments . The insurance company has the right to cancel the policy if they are not receiving payment . You may have to wait for a subsequent open enrollment period to reinstate a lapsed policy . There is a 30 day grace period to protect policyholders . Make sure you pay your premiums on time .


Input: What Is Considered A Lapse In Health Insurance?

Output: Having a lapse in coverage means that you 're responsible for 100 % of expenses if you have an illness or injury occur during this period because the plan would not be in force , thus not providing any coverage . The most common way people have a lapse in their coverage is because they did n't pay their premiums . The idea of insurance is to protect yourself in the event of a catastrophic financial event by shifting the risk to a third party -LRB- the insurance company -RRB- . If you do not have health insurance in force , then you 're taking on all of the risk yourself instead of passing it off to the insurance company by paying a monthly premium . Please note , under the Affordable Care Act , if you 're without active coverage for more than 90 days , you may be subject to a penalty . In 2014 , the penalty is calculated in one of two ways :1 -RRB- 1 % of your yearly household income featuring a maximum penalty as the national average yearly premium for a bronze plan .2 -RRB- $ 95 per person for the year -LRB- If under age 18 , then $ 47.50 -RRB- featuring a maximum penalty per family of $ 285 under this method . These figures will increase in 2015 and 2016 - penalties will be adjusted for inflation in future years . Please feel free to contact me for help . Thanks very much .


Input: How Do I Get A Life Insurance License In Alabama?

Output: If you have a license in another state , you can apply for a nonresident license in Alabama by using the NIPR -LRB- National Insurance Producer Registry -RRB- . If you are starting your life insurance career in Alabama , you must study for the licensing test , pass it , pay the appropriate fees , and use your life insurance license in Alabama to benefit your life and the lives of others .


Input: How Do I Get A Life Insurance License In Alabama?

Output: In order to get an insurance license in Alabama you will need to complete any pre-licensing requirements and then take the state licensing test . The state of Alabama will also require that you complete a background check . Upon completion of both items the state will issue you a resident producer license which will allow you to write life insurance contracts in the state .


Input: How To Qualify For Long Term Care Insurance?

Output: In order to qualify to get a Long Term Care Insurance policy , you must fill out an application and take an exam . The application goes to underwriting where it is determined if your health is good enough to get approved . If it is , you are issued a LTC policy . Some health conditions that would cause a decline are AIDS , ALS , Alzheimers , dementia , kidney failure , liver cirrhosis , and Parkinsons . Certain mood disorders , moderate to severe arthritis , MS , advanced diabetes and/or heart disease , stroke , and other conditions that can lead to inability to care for one 's self are also potential hindrances to qualifying for Long Term Care Insurance . To find out whether you qualify for Long Term Care Insurance , call or visit an agent that carries several LTC choices and answer all their questions . It is much easier to find out ahead of time if you can not qualify , than it is to be declined later . This way you can also get the policy that has your best price if you do qualify .


Input: What Does Homeowners Insurance Typically Cover?

Output: Homeowners insurance is designed to cover sudden and accidental losses except what is excluded . Homeowners insurance covers your dwelling , personal property , other structures and it provides liability coverage . There are several optional coverages available as well so make sure you have a full understanding of your policy . Flood damage is not covered by homeowners insurance but you can purchase separate Flood insurance .


Input: Does Health Insurance Cover A Drug Overdose?

Output: Yes , HEALTH INSURANCE has been mandated to cover emotional/mental disorders , and substance abuse separately from other inpatient treatments . However they do issue policy limits under these two headings , generally in regard to the total number of days that a individual will be covered for inpatient treatment . Generally the yearly maximum for substance abuse treatment is about 1/3rd . that which is allowed for psychiatric disorders .


Input: What Does Graded Life Insurance Mean?

Output: A graded Life insurance policy is intended for people in very bad health who ca n't qualify for a full benefit policy . If you have a graded policy for $ 10,000 and died during the first 12-months , it would usually pay only 30 % of the death benefit or $ 3,000 If you died during month 13-24 it would usually pay 70 % or $ 7,000 After 24-months it would pay the full $ 10,000 Before you sign up for a graded benefit policy , make certain that you have a very experienced agent review your options . Many people sign up for a graded policy after one or two companies turn them down for full benefit . An experienced agent can check your health against dozens of companies and often get you approved at full benefit and a lower premium .


Input: What Does Graded Life Insurance Mean?

Output: Graded life insurance means that the death benefit is graded ... `` gradually passes from one level to another '' , per the dictionary . The death benefit is not paid to the beneficiary 100 % in year one , except for accidental death . For death due to natural causes -LRB- illness -RRB- , it pays a portion of the death benefit in year one , then another portion in year two , and so on . Most policies are graded two years , but some are graded three years . Graded life insurance allows people who have a hard time getting regular life insurance to be able to get something , rather than go without .


Input: How Much Universal Life Insurance Do I Need?

Output: To determine how much Universal Life insurance you need , it can be helpful to list the purposes for your life insurance . I.e. To pay for your children 's college , to provide income during retirement , to pay for your funeral , etc. . Those things that are temporary -LRB- such as children 's college -RRB- might be best met with Term life . Those that could use a boost from the stock market -LRB- such as retirement income -RRB- could do well with Indexed Universal Life . Other permanent needs -LRB- such as funeral -RRB- might do best with Whole Life , partly because there are a lot of competitively priced final expense policies that come in Whole Life . Contacting any agent on this website would help you sort through your needs and find you the best combination of policies .


Input: How Much Universal Life Insurance Do I Need?

Output: You ask about University Life Insurance . Are you sure that Universal is what you need ? How about Whole Life or Term ? An experienced agent will spend the time to talk with you and help you determine the best type of coverage for you now and in the future . You may want a combination of two or even three of these choices . Also , the dollar amount needs to be carefully calculated , based on your actual income , whether you are married , have kids and how many , their ages , whether you have a mortgage , and other factors . My point is there is not one answer for everyone . You need to meet with an experienced agent . Gary Lane , Agent , New York Life . 949 797 2424 . Thanks .


Input: How Much Universal Life Insurance Do I Need?

Output: You ask about Universal Life Insurance . Are you sure that Universal is what you need ? How about Whole Life or Term ? An experienced agent will spend the time to talk with you and help you determine the best type of coverage for you now and in the future . You may want a combination of two or even three of these choices . Also , the dollar amount needs to be carefully calculated , based on your actual income , whether you are married , have kids and how many , their ages , whether you have a mortgage , and other factors . My point is there is not one answer for everyone . You need to meet with an experienced agent . Gary Lane , Agent , New York Life . 949 797 2424 . Thanks .


Input: Does Home Insurance Cover Storage Units?

Output: Homeowners Insurance policies generally provide Personal Property Coverage . There is usually a stipulation on the Personal Property section of coverage stating that 10 % of the limit may be claimed for personal property away from home . Thus , you may have personal property coverage while placed in storage units . It is important to review your homeowners insurance prior to placing personal property in storage units . Also , if you are renting storage units from a well known company , many do have an additional insurance agreement that can be purchased to provide coverage .


Input: Does Home Insurance Cover Storage Units?

Output: The Personal Property portion of your Homeowners Insurance Policy extends coverage on your personal belongings while they are outside your home . This coverage is usually limited to about 10 % of the current stated Personal Property amount listed on your policy and may also be subject to other coverage limitations . It is best to talk to your Insurance Professional about the specific terms and conditions of your policy .


Input: When Can You Enroll In Health Insurance?

Output: Now that there is Open Enrollment for health insurance , here are the general guidelines . In 2014 , Open Enrollment will run from 11/15/14 - 2/15/15 . The earliest effective date will be 1/1/2015 . There are certain events that will allow you to get health insurance outside of Open Enrollment . For example : If you lose employer coverage , if you have a change in your income , if you have a child , etc. .


Input: Where Can I Purchase Long Term Care Insurance?

Output: Licensed life insurance professionals who have maintained state required licensing and continuing eduction for LTC -LRB- where required -RRB- can work with you to plan for long term care . insurance professionals are an excellent place to start and can help with the purchase . Some employers make group long term care available to their employees and there are some associations that have plans available . Your state may also have a department to provide assistance in planning for long term care . The need to provide private insurance solutions is so compelling that there is an abundance of resources available to educate the public in this area .


Input: Does QDRO Apply To Life Insurance?

Output: QDRO or a Qualified Domestic Relations Order comes through the courts in a divorce case . This order typically deals with divorce settlements concerning finances and retirement plans such as IRAs , Roth IRAs , 401Ks , 403bs and cash value life insurance plans . If you or your ex spouse owns cash value life insurance , then yes , the cash value is included in QDRO calculations . In most cases , term life insurance plans are not included in these calculations because there is no value unless a death occurs . You or your ex spouse can also be court ordered to carry a term life policy to cover alimony and or child support in case of an early death .


Input: Does QDRO Apply To Life Insurance?

Output: Qualified domestic relations order is generally included in a divorce arrangement that addresses the dissolving couples qualified retirement plans . If life insurance is an asset of the qualified retirement plans , then QDRO applies . The divorce agreement may include life insurance as a settlement option , but it would be treated as a standalone item of the overall divorce arrangement .


Input: Can You Sell Life Insurance From Home?

Output: The work culture is changing . The online environment has made the virtual office an accepted business practice . Prospects for life insurance and other financial products seem ambivalent to your work location . Having an office in your home with P.O. Box number does n't appear to be counter productive with the public .


Input: What Do I Need To Get Car Insurance In Oregon?

Output: You will need your drivers license , your social security number , and your registration , and money . If there are other drivers in your home you will need their license information also . Some carriers may want more details about you but this is the minimal information you should be ready to provide . Discounts also vary by carrier and documentation from you to get the discount may be needed .


Input: Does Long Term Disability Insurance Work?

Output: Yes , if you have disability insurance and you become sick or injured to the point where you ca n't work , and if whatever is disabling you was n't excluded in your policy -LRB- pre-existing conditions are often excluded -RRB- , you will receive benefits . If you start searching for an insurance agent , you 'll find that many of today 's agents are advocates of DI because they were once disabled and received benefits from their own policy .


Input: Can I Be Denied Long Term Care Insurance?

Output: Yes , you can be declined for a medical condition and/or adverse health history as it pertains to `` morbidity '' . Morbidity involves a reduced ability to perform mental or physical activities . Such ailments as arthritis , cognitive impairment , Alzheimer 's disease , advanced osteoporosis , lung malfunction , and blindness are all classified under morbidity . If one uses tobacco and has any morbidity issue , that usually results in a decline as well , but smoking by itself does not often result in a decline.Underwriting for long-term care insurance is getting tighter . Genworth , for instance , will soon be requiring some medical work for applicants , which may include lab tests -LRB- urine sample and blood draw -RRB- . Carriers are also moving toward gender-based premiums , with male applicant costs being lower than female applicant costs due to the fact that more women go on claim than men . This is also true for most insurance , so it 's not a new concept . Life insurance costs are higher for men than women because women live longer . Disability Insurance has had gender-based rates for quite a while . Only Montana has mandatory uni-sex rates for all insurance.Before submitting a formal application for long-term care , an applicant should be pre-screened by completing a medical questionnaire provided either by the carrier or the representing agent . Applicants should answer all answers truthfully and completely to determine medical eligibility . It is better to be told not to submit an application due to confidential prescreening than have a formal application declined .


Input: Does US Health Insurance Work In Canada?

Output: Your major medical health insurance policy is worldwide , but when you leave the country the plan becomes a reimbursement policy . There are no doctor or hospital networks outside the United States . Everything is considered out of network . When you travel to another country , including Canada , it is always good to have an international travel medical plan in force .


Input: How Are Non Qualified Annuities Taxed At Death?

Output: Non-qualified tax deferred annuity distributions are taxed as ordinary income at the effective tax bracket rate of the annuity owner . There are beneficiary strategies or methods to extend or stretch the distributions .


Input: How Are Non Qualified Annuities Taxed At Death?

Output: Yes . Growth in annuities is tax-deferred , not tax free . Gains are taxed as ordinary income . Even gains in `` variable annuities '' are taxed as ordinary income . Special taxation rules apply to spouses and to beneficiaries which determine when the tax must be paid . But gains are always taxed as ordinary income to the recipient .


Input: How Much Is Annual Insurance For A Home?

Output: There are many factors that come into play when getting pricing for Homeowner 's insurance . Some of the factors are square feet , age of home , internal and external features , location , and population of that area . These are only a few of the items that change the price for a Homeowner 's insurance policy . Generally speaking , if you have a smaller homewith fewer special , or high-end features , you can expect to pay less than someone who has a larger home with high-end features . However , location can be a large factor because rates are different for every location . I understand that you are looking for more of an answer in terms of dollars and cents , but your best bet is to get a quote with your local insurance specialist to see how much it will end up being .


Input: Which State Has The Most Expensive Health Insurance?

Output: Rates change fairly regularly , but New York and New Jersey are two of the most expensive states to buy health insurance . Of course , states like Ohio offer very affordable premiums . If you qualify for the new Obamcare subsidy , regardless of where you live , your rate will reduce -LRB- assuming you meet the FPL guidelines -RRB- .


Input: Does My Auto Insurance Cover Glass?

Output: Auto glass is covered on an auto insurance policy as long as you carry physical damage coverage . Physical damage coverage would be comprehensive or collision . If the car is in an accident and the glass is broken collision would pick up the damage minus yourcollisiondeductible . If the damage came from a non collision related incident such as a rock hitting thewindshieldor vandalism for example these types of situations would fall under comprehensive coverage . Many insurance carriers now offer zero -LRB- 0 -RRB- deductible for glass on the comprehensive deductible . For example : you could purchase a $ 500.00 deductiblefor any comprehensive loss on your auto policy but have a zero -LRB- 0 -RRB- deductible if the comprehensive loss was glass . Usually a slight extra premium applies for this coverage . Talk to your local agent to see if this is an option available in your area .


Input: How Much Is Life Insurance For A 60 Year Old?

Output: There 's many factors that go into the premium calculations for life insurance to say what coverage will cost for a 60 year old - it will be different for every person due to a number of factors including their age , amount of coverage they want , how long they want the coverage for , their risk classifcation , and whether they 're applying with full underwriting or non-medical term coverage . At age 60 , you 'll have term life insurance options for 10 , 15 , 20 , or 25 years - 30 years term insurance would not be available due to age - you would need to look at permanent programs to secure coverage longer than 25 years . If you want to consider coverage beyond 25 years , I would suggest looking at a Guaranteed Universal Life insurance policy -LRB- GUL -RRB- . If you 're looking for something in the $ 100,000 , 10yr term insurance range , you could be looking at premiums as low as $ 28 per month -LRB- at preferred plus risk class -RRB- to over $ 100 + per month -LRB- if you 're table-rated -RRB- , it ultimately depends on the risk classification you qualify for . $ 250,000 , 15 yr term can be as low as $ 82 per month or over $ 154 per month at standard risk class . So on and so forth . However , any numbers I quote without more details regarding your medical history will be useless . The risk classification is the MOST critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends on a number of factors including whether you 're male or female , your medical history , prescriptions you take , your height/weight profile , any tobacco usage , family medical history , and other factors . Please keep in mind - every carrier has different underwriting guidelines , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . You should always consult with an experienced life insurance broker before applying for ANY coverage . Brokers can shop the case for you among a number of insurance companies to see which one will work best for your program and help you structure a policy that will best serve your needs and your budget . 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: How Much Is Life Insurance For A 60 Year Old?

Output: If you have pretty good health -LRB- e.g. well controlled diabetes or hypertension -RRB- , are not morbidly obese , do not smoke , and are looking for a small final expense policy , you could get $ 15,000 of Whole Life for about $ 50 - $ 75/mo . This would not require taking an exam . If you are looking for Term Life Insurance , you may be able to get $ 100,000 of a short Term policy for about that same price . Throw in some health conditions , tobacco , overweight , longer term , etc , and the premium could be much higher . By shopping with an agency that carries lots of different options . you can get the policy that has the best price for you .


Input: Where Was The First Private Health Insurance Plan Started?

Output: This is a subject of some debate and depends upon how strictly you define what health insurance is . Some can trace the origins of health insurance back to the American Civil War era though these were primarily accident policies for travelling by railroad or steamboats -LRB- which could be risky propositions back in those days -RRB- . Others point to a plan offered as early as 1847 by Massachusetts Health Insurance of Boston . Individual disability and illness policies began to be sold to individuals by insurance companies in the 1890 's . What we would recognize as the first modern major medical insurance plan was probably one formed in Dallas , Texas in 1929 when a group of teachers entered into a contract with Baylor Hospital for room , board and medical services in exchange for a fixed monthly fee . This was followed in the early 1930 's with several major life insurance companies beginning to market individual and later group health insurance policies . At about the same time the first Blue Cross and Blue Shield hospital and medical plans built on a non-profit model were formed .


Input: What Happens If I Lie On A Life Insurance Application?

Output: Not being truthful on a Life Insurance application could , at the very least , delay the application process , but that would be the least of your concerns . If you lie , as you say , on the application , and if for some reason , that gets through the underwriting process and the policy is issued , then the real conseqence could affect your beneficiary . If you die within the first two years of the policy , and the misinformation is discovered , the company very well could outright deny any claim . Bottom line , do n't lie on any insurance application . The odds are with today 's modern underwriting technology , you are n't going to get away with it .


Input: What Happens If I Lie On A Life Insurance Application?

Output: As with any dishonesty , there are consequences . Most companies understandably take a pretty dim view of fraud and are n't going to pay out if they find that you were less than honest . There is a period of time built into the contract where the company can void your policy if they learn you 've lied on your application . A slight misrepresentation - you put down your weight as 150 pounds and you really weigh 155 is n't going to be as big an issue as you write 150 , and you really weigh 350 , but it makes no sense in any case to be dishonest . If that does n't answer your question , or you 'd like more information , please contact me , I 'd be happy to help .


Input: What Happens If I Lie On A Life Insurance Application?

Output: If you lie on your life insurance application and then die within the first two years of the policy , the life insurance company may not pay your claim . This would especially be true if the cause of death was something that you lied about on your application . They usually return all the premiums paid in , but will not pay the death benefit , in cases where the cause of death was lied about on the application during the contestable period .


Input: What Happens If I Lie On A Life Insurance Application?

Output: In Canada , during the first two years if there is a material representation of fact , ie , you lie , then then insurance company can and usually does not pay the claim After two years the company has to prove fraud . A life insurance contract is a contract of utmost good faith and both parties are expected to give full disclosure . 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 Losses Can Auto Insurance Protect You From?

Output: There are 4 major potential losses that your auto policy protects you from : Bodily Injury , Property damage , Personal Injury , and physical damage to your vehicle . Let 's take a quick look at these . Be advised that I 'm speaking specifically for the state of Michigan . Your state may be slightly different . Bodily Injury - In Michigan if you injure someone in an auto crash , you can be sued for : Wrongful Death Disfigurement Loss of Bodily Function Loss of Wages These lawsuits are big dollars . Be sure you 're carrying high enough limits to protect your assets Property Damage - If you cause damage to property with your car , you can be sued to repair or replace that property Personal Injury - This is an injury to the driver and any passengers in the car . In Michigan , there is unlimited lifetime coverage for this . Check in your state for it 's specific limit . Physical Damage to your auto - This is the coverage that will fix your car for a covered accident . One last item I 'll cover is Uninsured and Underinsured Motorist coverage . This is a coverage you carry that will pay you if you are injured in a car accident and the at fault driver either has no insurance or not enough to pay what you 've won in court . I did n't touch on things like towing or rental reimbursement as I did n't really think that was what you were asking , but those coverages are also available as well as some other small , specialized coverages . the auto insurance policy is a complicated animal and you need an agent you can trust to be sure you build the right coverage in a way that you can afford it .


Input: What Losses Can Auto Insurance Protect You From?

Output: Auto insurance can provide you protection from physical damage and liability losses depending on the amounts and types of coverage that you choose . The basics for auto insurance coverage options are bodily injury -LRB- this is normally injuries that another person sustains when you are involved in an accident and deemed responsible -RRB- , property damage -LRB- damage done to property from an auto accident that you are deemed responsible for -RRB- , medical payments -LRB- amount available for your medical treatment when involved in an accident -RRB- , uninsured motorist -LRB- coverage that provides for damages when you are involved in an accident with an uninsured motorist -RRB- , under-insured motorist -LRB- this coverage comes into play if you are involved in an accident and the responsible party for the accident does not have enough coverage to provide for all of the damages caused by the accident -RRB- , other than collision `` comprehensive '' -LRB- this is physical damage coverage for your vehicle typically less a deductible -RRB- , and collision -LRB- this is a physical damage coverage for your vehicle typically less a deductible -RRB- .


Input: Can Annuities Lose Money?

Output: That is an excellent question ! While your agent may be quick to assure you otherwise , it is possible to lose money on an annuity , but it 's awfully tough to do . If you 've done your homework , and had a good agent , you will almost always come out ahead . You can lose money if : Your guaranteed interest rate is lower than the cost of inflation , and the cost of the fees on the annuity are unreasonably high ; if you have a variable annuity without guarantees , and the market tanks like it did in 2008 ; and if the money that you invested in the annuity could have brought you a higher rate of return had it been invested elsewhere . If you 've done your homework and made sure that your annuity covered these bases , you should find yourself sitting on a healthy income stream for many years to come . I hope that helps , thanks for asking !


Input: Can Annuities Lose Money?

Output: That is an excellent question ! In most cases the answer will be no , if you 've been careful and chosen well with your annuity . If the interest rates and income riders will guarantee growth above inflation , it 's tough to lose money , especially if you end up in a lower tax bracket when you collect , and the tax burden is n't bad . You can lose money if the interest rate is too low , or you do not have guaranteed floors , or you pull money out during the surrender period . You can lose money if the return is not approximate to what you could have gotten if the money had been invested in a different vehicle that returned higher . It is really vital with any investment that you sit down and discuss it thoroughly with a knowledgeable advisorbefore making the investment , whatever it may be . But many annuity products out there are great options , and very safe investments . I hope that helps , thanks for asking !


Input: Can Annuities Lose Money?

Output: Annuities vary from the fixed annuities to the variable annuities . Once you move out of the realm of fixed annuities you move into the possibility of losing money . The investment in an annuity is still considered very secure ; however , fees and losses could erode capital over time . When you get to the variable annuities their performance is a direct reflection not only of the stock market but in particular those funds that you select .


Input: Can Annuities Lose Money?

Output: Tax deferred annuities have three basic crediting methods : interest rates , indices and separate sub accounts . Fixed interest rate annuities generally have s stated guaranteed interest rate . Indices do not debit the account in a negative , but policy expenses could create a negative return . Separate sub accounts are subject to the market volatility and can lose money .


Input: Can Annuities Lose Money?

Output: There are two basic types of annuities . Fixed annuities offer guaranteed interest for the life of the contract . Variable annuities offer accumulations and payments that vary with the performance of the underlying securities . Variables can lose money . In between there are indexed annuities . Generally they offer a guaranteed interest rate , although it is often 0 % . In these plans you can participate in market expansion but need not take a loss when the market does .


Input: How Much Is A Medicare Yearly Deductible?

Output: There are different deductible with each part of Medicare . These deductibles also change each year . Below are the amounts for 2013 . Part A deductible is $ 1,184 for first 60 days of hospital stay . Day 61-90 is $ 296/day . Day 91-150 is $ 592/day . After 151 days , you pay all of it . Part B deductible is $ 147 per year . After the deductible has been met , Medicare will pay 80 % and you pay 20 % of any Part B covered service . For a stay in a skilled nursing facility , days 21-100 , you pay $ 148 per day . After the 101st day , you pay all costs at a skilled nursing facility . These amounts can be quite large in some cases and that 's many people choose to cover these deductibles and copays with a medicare supplement plan .


Input: What Is A Contingent Owner For Life Insurance?

Output: A contingent owner for life insurance is the person who would own the life insurance policy if the original owner died while the insured person was still alive . If the owner and insured person are the same , it is not necessary to name a contingent owner .


Input: What Is Good About Annuities?

Output: There are a lot of different kinds of annuities available from dozens -LRB- perhaps even hundreds -RRB- of insurance companies . Annuities are offered by insurance companies and primarily used as a means of securing a steady cash flow during retirement years . In many ways , an annuity is very much like a pension plan offered by a company for retirement . Perhaps the best feature of an annuity is safety . Insurance companies are rated as a measurement of financial strength and have proven over the past 125 years or so to have financial stability second to no other type of financial institution . In today 's world where fewer and fewer employers offer a pension , planning for a reasonable retirement income stream seems to be challenging for most workers . An annuity -LRB- or even several -RRB- can provide the type of retirement income security that previous generations have enjoyed . Should an annuity be the only retirement income vehicle for you ? Absolutely not . Your retirement income plan should be balanced in a way that works for you . You should always seek the advice of a qualified retirement income planner so that strategies and products can be tailored to your individual situation .


Input: What Is Guaranteed Issue Life Insurance?

Output: Guaranteed Issue Life Insurance is whole life insurance for which you can not be declined for health reasons . The maximum face amount is usually $ 25,000 or less , and there is a graded period -LRB- 1-3 years -RRB- where a reduced benefit is paid for death due to natural causes . They usually pays 100 % from day one for accidental death . Most guaranteed issue policies have a minimum age requirement of 40 to 50 years old .


Input: What Is Guaranteed Issue Life Insurance?

Output: Usually sold by mail these policies offer life insurance without a medical exam . Sometimes they include three or four health related questions . These policies offer ease of application and protection . The amounts offered are generally quite restricted but could make a significant difference in the plans of some people . The thing to remember is that this ease and protection comes at a price . The protection offered by companies providing standard insurance is generally a great deal less expensive .


Input: What Is Guaranteed Issue Life Insurance?

Output: That is an excellent question ! When you are offered a guaranteed issue policy , what the insurance company is offering you is a policy that you will certainly qualify for . There are typically few if any questions about your health , other than your age and gender . These policies are great options for people who have or have had serious health issues , that otherwise would not qualify for a policy . They are n't cheap though , and will generally have a two or three year period to work through where the death benefit is reduced to premiums paid plus interest . This is one of those cases where an independent agent like myself is worth their weight in gold , because finding the least expensive and best options for your graded period can make a big difference . I hope that helps , thanks for asking !


Input: Can A Beneficiary Of Life Insurance Be Contested?

Output: From the insurance companies standpoint , the proceeds will only be paid to the named beneficiary . It would be difficult to contest . You would have to prove mental incompetency or coersion in court . If successful the proceeds would most likely be paid to the estate or in some cases the prior beneficiary but that would be up to the court . You would need to see an attorney .


Input: Can A Beneficiary Of Life Insurance Be Contested?

Output: The policy owner has the right to change beneficiaries of a life insurance policy . If the policy owner changed beneficiaries and it could be proved that the policy owners competency was in question or that compulsion was used to manipulate the policy owner into making beneficiaries changes , it may be grounds to contest those changes in court . Consult with an attorney before moving forward with any action .


Input: Can You Laminate Your Medicare Card?

Output: You can laminate your Medicare card , but why do that ? Even though CMS -LRB- Medicare -RRB- `` requires '' you to carry your Medicare card at all times it is not a good idea . Medicare identity theft is big business and plays a major role in Medicare fraud . Rather than carrying your Medicare card , make a copy of the card and blot out the last 4 digits .


Input: How Does A Life Insurance Payout Work?

Output: Upon death the beneficiary has a couple options . They can take the money in a lump sum , in which case they will receive a check shortly after filing the death claim , or they can annuitize and take the money in monthly installments ove a period of time or for life . A good agent can help guide you according to your circumstances .


Input: How Does A Life Insurance Payout Work?

Output: When the beneficiary receives a life insurance payout , the insurance company will work with them to help make the payout most beneficial for their situation . If there is a mortgage to pay off , taking the payout in a lump sum may work best . If the beneficiary needs the life insurance proceeds for income , taking the death benefit in monthly installments may work better . The life insurance company pays interest to the beneficiary on money left in the policy until it is taken out .


Input: What Is Irrevocable Assignment Of Life Insurance?

Output: That is a great question ! In insurance speak , an `` assignment '' means that something has been transferred to someone else . An `` irrevocable assignment '' means that transfer is permanent , and can not be undone . So an `` irrevocable assignment '' of a life insurance policy means that the policy is transferred from one party to the ownership of another . That second party now has the rights to change the beneficiaries , and all other rights that go with the ownership of the policy . I hope that helps - thanks for asking !


Input: What Is Irrevocable Assignment Of Life Insurance?

Output: An assignment means that you forfeit your rights , at least temporarily , to property . In this case you are talking about an insurance policy . The person to whom the rights have been assigned can change the provisions of the policy , and access the values of the policy . This is an effective way to move life insurance completely out of your estate .


Input: What Is Irrevocable Assignment Of Life Insurance?

Output: Irrevocable Assignment of Life Insurance can refer to irrevocable assignment of ownership and/or benefits . If you assign ownership of your policy irrevocably to another party , you can no longer make any changes to the policy . This type of assignment is often used for tax purposes , by assigning ownership of the policy to an Irrevocable Life Insurance Trust -LRB- ILIT -RRB- . If you assign benefits of your policy to another party irrevocably , they will receive the payment when you pass . This type of assignment is often used to designate life insurance to be used for funeral expenses under Medicaid spend down guidelines .


Input: What Will Renters Insurance Cover?

Output: Renters Insurance is designed to cover your personal possessions versus the physical building you are staying in . If something was to happen to your apartment for example , renters insurance would probable be the only way you can get money to replace what was lost . And you will need to be careful with how the policy is put together . Will it pay you the `` value '' of the property lost or `` replacement '' value of the property ? There is a huge difference so be aware .


Input: When Is Medicare General Enrollment Period?

Output: The general enrollment period for Medicare is January 1 - March 31 of each year . The effective date for your Medicare coverage will be July 1 of that year . When you enroll in Medicare Part B , you activate a 6-month window -LRB- your initial open enrollment period -RRB- to purchase any Medigap plan with no medical underwriting . A Medigap plan helps you create a very predictable cost structure for your healthcare expenses . Please note , depending on how long it 's been since you were first eligible for Medicare , you may be subject to a late enrollment penalty for your Part A and/or Part B coverage . if you 're coming off of group health insurance through your employer , you would be eligible for a special enrollment period and get coverage starting the first of the following month you applied and you would not be subject to a late enrollment penalty . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: What Is The Pennsylvania Health Insurance Exchange?

Output: The Pennsylvania Health Insurance Exchange is the Marketplace where Pa residents can purchase affordable healthcare with the help of a federal subsidy -LRB- if you qualify -RRB- . Individuals , families and businesses can obtain a wide variety of plans from top-rated carriers such as Independence Blue Cross , Highmark , UPMC , Geisinger , Capital Blue Cross and many others . Experienced brokers -LRB- and their websites -RRB- can help consumers find the lowest rates and choose the most appropriate plan . Pahealthinsurancecoverage.com is one of the premier trusted health insurance websites in the state for providing current and cost-saving information , free quotes and assistance navigating through the application process . Pre-existing conditions will be covered and no medical questions will be asked -LRB- part of the Affordable Care Act legislation -RRB- and Open Enrollments will take place every year .


Input: What Is The Normal Deductible For Home Insurance?

Output: Many companies now are requiring a $ 1,000 deductible on homeowners insurance policies but some people are choosing deductibles around $ 2,500 . Homeowners insurance is meant to be catstrophic type coverage where you only file a claim when you have a substantial lose such as wind/hail damage to a roof , fire , etc. . Keep in mind that a higher deductible equals lower annual premiums !


Input: When Is Open Enrollment Period For Health Insurance?

Output: The open enrollment period to get health insurance for the 2015 year will start November 15 , 2014 and end on February 15 , 2015 . An experienced health insurance broker can help youdeterminewhich plan will be most suitable for your needsand budget . Please feel free to contact me for help . Thanks very much .


Input: When Is Open Enrollment Period For Health Insurance?

Output: The gates open at midnight November 15th , 2014 and run through February 15th , 2015 . Nothing says holiday season to me like health insurance open enrollment , but at least now you can make some plans for your off time this Thanksgiving and Christmas . Absent a change of life status event -LRB- e.g. - marriage , divorce , child birth , etc. -RRB- between now and then , any person who has n't gotten health insurance by the March 31 , 2014 end of open enrollment is locked out of the individual health insurance marketplace . While it is too early -LRB- mid-May 2014 -RRB- to know exactly what health insurance plans will look like and cost for 2015 , the general assessment is that the vast majority of marketplaces will see rates go up -LRB- though perhaps not as high as some feared -RRB- , health plan product designs will be added and removed from the marketplace based upon what carriers learned in the first year of ObamaCare , some carriers will withdraw while other carriers are deciding to enter or expand their marketplace presences . In short , the health insurance world is getting more complicated not less . Seek out the services of an experienced health insurance broker representing all carriers early on in your search process . It should cost you nothing and save you a lot of headaches .


Input: When Is Open Enrollment Period For Health Insurance?

Output: Open Enrollment for health insurance Exchange plans begins on November 15th . It ends on February 15th unless you qualify for an SEP -LRB- Special Enrollment Period -RRB- . Consumers can get the best rates and free quotes from an experienced broker . Available plans include Platinum , Gold , Silver , Bronze and Catastrophic . A federal subsidy is available , depending on your household income . Live answer provided by Ed Harris - Health insurance broker for 33 years and owner of top-rated website .


Input: Why Do People Get Disability Insurance?

Output: People get disability insurance to protect themselves in the event they become disabled . The loss of income could be financially devastating and having disability insurance will provide a stream of monthly income that will pay bills and provide and replace lost revenue . Many full-time experienced brokers can provide the most expert advice to you .


Input: Why Does Health Insurance Increase Every Year?

Output: Why does health insurance increase every year ? Actually there have been times where this does n't happen , but I would be harded pressed to remember . The thing that needs to be understood is health insurance premiums are a reflection of the cost of care rising . Most states office of the insurance commissioners have a ton of informtaion that can be accessed to review exactly how much an insurance company pays out . I often describe insurance premiums much like my own checkbook . Each month money comes in and each month money goes out . I only hope at the end of the month , there is some left over .


Input: What Is The Best Life Insurance For Police Officers?

Output: Video Transcript : What is the best life insurance for police officers ? There 's not really a best life insurance for police officers . There 's not a contract or a company that are out there specifically looking at that vocation . Remember , that vocation has different levels of activity . Some are police officers in regular squad cars doing regular patrols ; they have more exposure to liability . There are other officers that are inside the office ; they 're desk officers , they 're higher up , maybe up the food chain , lieutenants , captains , and so forth . They 're really not exposed to the exposure that the regular officers have . Companies are going to price this based on vocational risk . Vocational risks are ` Is this hazardous ? ' Of course , police officer work is hazardous . To say , ` Who 's the best ? ' it depends upon the state we 're in , and it depends upon the officer and his specific duties .


Input: What Is The Best Life Insurance For Police Officers?

Output: The best life insurance for police officers is based on your budget and your needs . It is not based on your vocation , because most life insurance will not rate you higher for being a police officer . You can figure up the amount of coverage you need , split it into what are permanent needs and what are temporary needs , and buy as much of each type that you can afford , just like everyone else . A good agent will shop a number of companies to help you get the lowest rates based on your age , health , and the type of policy or policies that you need to meet your family 's needs .


Input: Does A Beneficiary Pay Taxes On A Life Insurance Policy?

Output: Aside from being income tax free , life insurance proceeds can possibly be subject to state or federal estate taxes . The exempted amount is high at this time for federal estate taxes -LRB- $ 5,250,000 -RRB- and some states do not have any state estate or inheritance taxes . If the life insurance benefit pushes the estate over the exempted limit for state and/or federal estate taxes , whether the beneficiary helps pay those taxes would need to be determined .


Input: Does A Beneficiary Pay Taxes On A Life Insurance Policy?

Output: For personally-owned policies , life insurance death benefits paid in a lump sum to the beneficiary are received income tax free - a unique and important benefit . If the beneficiary is a business and that business owned the policy , the business is generally not subject to the regular corporate federal income tax on the death proceeds provided special requirements are satisfied for policies issued or materially modified since August 17 , 2006 -RRB- .


Input: Does my homeowners policy provide medical payments when someone gets bucked off a horse I own?

Output: I am sorry to hear of the child 's injury ! Do you have a copy of your policy handy ? I 'd advise that you look through it first , when you took out the policy , it may have been included , -LRB- assuming you had the horse at time of the policy writing , or if you had a working ranch/farm with normal inclusions -RRB- and if not , call your agent and ask . I hope that everything works out ok for you . Please hit the `` contact me '' button if you 'd like more help .


Input: How Do You Calculate Cost Basis On Life Insurance?

Output: There are calculators that you can find on the internet that will calculate the cost basis on your life insurance for you . Most people simply call their life insurance carrier and ask them to give them that figure . Knowing the cost basis of your permanent life insurance policy helps you know how much of the cash value , if any , is taxable .


Input: How Do You Calculate Cost Basis On Life Insurance?

Output: The cost basis on your life insurance policy is the amount of money you paid into it . Do you have to track this yourself ? No . Call your carrier and they will give me the figure . What then ? First of all , you will note that the amount of money that you paid in premium is a lot less than the benefit that is currently available . Life insurance is an extremely cost-effective way to provide your estate and heirs with money . What if you are concerned as well with your cash account ? Perhaps you are considering withdrawing some of the money in that account , or taking it out in the form of a loan . Your question probably is whether or not any portion of that sum will be taxed . Your tax advisor will tell you something to the effect that you will be taxed on any amount distributed that is greater than what you put in . Go ahead and ask . Also very important : you could very well reduce the amount of your survivor benefit with that distribution . Be very careful to not shortchange your estate or your heirs .


Input: Who Has The Best Rates For Homeowners Insurance?

Output: There is no single company that consistently has the best rates . It 's going to depend on where you live , the age of your home , what condition it is in and whether or not you have had any claims in the past . Companies have different tolerances for different types of risk . You will have to shop around with a few different companies or go to a broker in order to fin the best rate .


Input: Does Hipaa Apply To Disability Insurance Carriers?

Output: Does Hipaa apply to disability insurance ? Not sure how you mean it , but in some ways yes it does . The insurance company that you are applying to will have you sign off on a HIPAA form that gives your permission to the insurance company to contact your doctors and other medical services to gain information for underwriting purposes . As far as the insurance companies themselves , they have always operated under privacy laws set up by their industry . The HIPAA form is a bit of a redundancy as it applies to insurance .


Input: Does Hipaa Apply To Disability Insurance Carriers?

Output: Yes , you 'll have to sign a HIPPA form when applying for disability insurance -- even if you apply for simplified underwriting . They have to be able to order your medical records should anything pop up on a script check . They might also ask you to sign a release form for any psychiatric notes if you 've ever seen a counselor or therapist .


Input: Does Health Insurance Cover Rhinoplasty?

Output: Health insurance is designed to cover the costs of medical care if you 're sick or injured and many have wellness benefits to prevent you from getting sick and catching it early if you become sick . If the Rhinoplasty is prescribed because there is a significant health reason , it may very well be covered . There has to be a medical reason for a doctor to recommend it and it , most likely , would have to be pre-approved by the carrier . If there is no medical reason for the surgery , your health insurance company will not cover it . If you believe you have a medical case . consult your doctor and have them submit to the company for a pre-approval . If you do n't have a medical reason , I doubt you 'll get it covered . I hope this helps .


Input: Does A Will Override A Life Insurance Beneficiary?

Output: Life insurance proceeds are separate from an estate and are paid directly to the beneficiaries . The will is executed through the courts called probate . A will can not override a life insurance policy since it is separate and outside probate . The exception would be if the beneficiary is the estate , then the will could dictate the proceeds . This is a very costly mistake . Life insurance proceeds are not taxed unless they are left to an estate and they be come taxed along with the estate .


Input: Does A Will Override A Life Insurance Beneficiary?

Output: When a person or persons is named as beneficiary of a life insurance policy , the death benefit usually passes to the beneficiary outside of probate and the will does not affect the policy at all . If there was a contradiction in the will with who the life insurance policy stated to receive the death benefit , the policy usually overrides the will .


Input: About How Much Does Medigap Plan C Cost?

Output: There really is no way to answer your question without more detail . Medigap plan C is like all Medicare supplement plans . Your cost is determined by your age , tobacco use , gender , zip code and the carrier you pick . All Medigap plan C 's are identical in every way , except for the premium .


Input: How Much Can Car Insurance Cost?

Output: That is a great question , with unfortunately , a horrible answer . There really is n't a number that I can give you , because of all of the things your company will look at to determine your rate . Your age , the car , the number of miles you drive it to work each day , where you live , your driving and credit histories , these are just some of the things that make a difference in your rate . Best thing to do is find a couple of local agents , and have them give you quotes , ok ? Good luck , and thanks for asking !


Input: How Much Can Car Insurance Cost?

Output: If your friend asked you to pay for damages to his car , and the liability of operating the car would you charge him the same if he had a Prius or a Corvette ? Would you charge him differently if he drove it 20,000 miles a month versus 500 ? Would you charge him differently if he was in an urban or rural setting ? Would you charge him differently if he had a recent DUI ? Those are some of the considerations that an insurance company makes when determining the premium for a policy .


Input: How Much Can Car Insurance Cost?

Output: Based on my experience so far in the industry within my geographic location ; I have seen rates be as high as five hundred dollars a month . Grant you this is an extreme rate case . Most rates that I see for prospects and clients range from about thirty to one hundred fifty dollars per month depending on the level and types of coverage requested .


Input: Is Health Insurance Affordable For The Uninsured?

Output: In 2014 , the uninsurable and poverty qualified PPACA participant will not pay anything for health insurance nor be denied coverage . There is some question whether health insurers can substantially raise rates for the uninsurable to the extent that they could n't pay for the premium . Again , means testing assess your premium paying ability .


Input: When Do You Pay Home Insurance?

Output: The technical answer is that you pay for a homeowners policy before coverage begins . The first premium is normally paid by the title company as a part of closing procedures . On a practical level the premium is normally paid from an impounded account by your mortgage company . If not paid by the mortgage company you will receive a bill and the premium is due before coverage renews .


Input: Is Disability Insurance Mandatory?

Output: If you are asking whether privately owned Disability Insurance is mandatory , no , it is not . Employees are not required to purchase Disability Insurance on their own , nor are they required to purchase it through their places of employment . A few states do require that temporary Disability coverage is supplied by employers in those states .


Input: What Happens To People With Cancer And No Insurance?

Output: Since you are asking this in the critical illness section I will assume you have health insurance . Your major medical health insurance plan will pay the bulk of your medical bills but you will still be personally responsible for your out of pocket costs including copay 's , deductibles , coinsurance and so forth .


Input: What Happens To People With Cancer And No Insurance?

Output: Unfortunately people who havecancer or any condition and no health insurance are responsible for paying out of pocket for treatments , surgeries if necessary and hospital confinement . Try negotiating with your doctors and hospital before during and after treatments to help keep your costs down . Depending on your budget you have a couple of insurance options : 1 -RRB- You could get a more affordableguaranteed issue policy -LRB- fixed indemnity -RRB- immediately . It will not cover cancer realted procedures and treatments but will cover most everything else which will help prevent further health related debt . 2 -RRB- Beginning October 1 , 2013 you can get `` Obamacare '' coverage through your state insurance exchange despite any pre existing condition you may have .


Input: What Term Life Insurance Do I Need?

Output: Term life insurance has an expiration date , so you want to make sure you expire before the policy does . If the purpose of the insurance is to cover a specific need , such as paying off a mortgage or other indebtedness with a specific time frame you should purchase a term limit to match the expiry of your obligation .


Input: What Term Life Insurance Do I Need?

Output: The best kind of life insurance to have is one that has n't expired before you do . Term life insurance is very affordable but it is for short term needs . Most term life insurance reaches the end of its coverage period and expires . If you have temporary needs that wo n't extend beyond the coverage period , match the term period to those needs . Otherwise consider permanent life insurance that is designed to last for your entire life .


Input: Is Viagra Covered By Medicare Part D?

Output: Unfortunately , Viagra is not covered by Medicare Part D , nor are any or the other erectile dysfunction drugs such as Cialis or Levitra . Some drug discount cards will cover Viagra and other ED drugs , but Medicare does not cover over the counter or prescription ED drugs through any of its plans .


Input: Is Viagra Covered By Medicare Part D?

Output: Medicare Part D plans will not cover Viagra or any other E.D. medications . Medicare does not consider those medications as medically necessary for your health and that is the reason they are not covered by any of the Part D plans . I do not believe that Medicare is likely to change their stance on these medications due to their cost .


Input: When Can You Drop Life Insurance?

Output: You can drop life insurance whenever you like . However , in many cases , the life insurance becomes more valuable the longer you have it . E.g. . If you purchase a 30 year term policy , the premium is averaged out over the 30 years . While you are younger , you are paying more than the actual cost of insurance for someone your age -LRB- that is why shorter term insurance costs less -RRB- . But once you get toward the end of the term , you are usually paying much less than the normal cost per thousand at your age . Unless you no longer need life insurance , or if the premiums have started to go up to an unreasonable amount , or if you had an improvement in health or weight or smoking status that will help you get a better rate with a new policy , consult your agent to be sure you are doing the right thing in dropping your policy .


Input: When Can You Drop Life Insurance?

Output: Life insurance indemnifies your family beneficiaries or business partners from financial liability and/or future obligations . Life insurance should be purchased for a financial reason . If that reason ceases to exist than you can consider dropping your life insurance . Since medical and funeral expenses never go away , everyone should have life insurance to pay for it . You can use your own cash reserves and prepay it , but it may not be the prudent thing to do .


Input: When Can You Drop Life Insurance?

Output: You can drop life insurance at any time . You can call the carrier , stop the bank draft or simply stop paying the premium if you are billed on a monthly , quarterly , semi-annual or annual basis . If the policy accumulates cash value , there might be a surrender value . Check with the carrier .