Input: Can Car Insurance Sue You?

Output: An insurance company issues a policy . The policy is a legal contract . There are obligations on the part of you , the insured , and the company . If you fail to meet the obligations of the contract you could be sued . It certainly isnt a common practice . Sometimes a company will file a suit in order to get the court to assist in determining the proper course of action . Companies are very aggressive if they suspect that an insured is trying to defraud them . Rather than seeking a remedy by lawsuit they usually turn the case over to a prosecutor .


Input: Can Car Insurance Sue You?

Output: You can be sued by an auto insurance company . If you are involved in an accident and determined to be at fault but do not have any or enough insurance to cover the claims , the company can sue you for the amount paid to their client . A company could also sue if a claim was paid to you and it was later determined to have been overpaid or fraud . The company can sue to get the money that should not have been paid .


Input: Can Car Insurance Sue You?

Output: Yes and auto insurance carrier at their discretion can bring a law suit against you . Auto insurance companies only sue to recover their loss and no more . So for example you caused an accident and they person you hit used his or her insurance to pay for the damage to their car because you had no insurance . The insurance company may want to recover what they paid out since their client was not at fault . Therefore the insurance company could take you to court to recover the monies spent for the repairs . No lets take it a step further . Say you were the one who was hit and were also injured . Your insurance company if they did not pay for your injuries will not sue for injury , pain and suffering and so on since the insurance company did not suffer a loss in this area . Again , insurance companies will only try to recover their own loss .


Input: Why Does Life Insurance Cost So Much In North Carolina?

Output: Life insurance costs in North Carolina are based on the risk of the person purchasing the policy . If the applicant has a health condition , is elderly , smokes , has multiple recent traffic violations , has a trip planned to an unsafe country , participates in dangerous hobbies , or has had recent drug/alcohol treatment , their rates will be higher than for someone with very little risk . To find your lowest life insurance rates in North Carolina , you can go to an office or visit a website that sells life insurance in North Carolina . Input your information for a free , instant quote to see if a quote comes up for North Carolina residents .


Input: Why Does Life Insurance Cost So Much In North Carolina?

Output: Rates in NC solely depend on the company and rating a client receives after going through a company 's underwriting process . Different companies have different rates based on what types of clients they want to have . Usually having a broker like tak discussing options with you will help find the right company with the right products to fit your needs .


Input: Why Does A Single Person Need Life Insurance?

Output: I think there is an image out there of single people as being carefree , unencumbered , no responsibilities . So no need for life insurance . However , I have come across so many single people that are just the opposite , that it makes you think : sure , a whole lot of single people really do need life insurance . Lets suppose you are a single person who is 22 years old . Youve got a girlfriend , or a boyfriend , or both -LRB- yep - sign of the times . -RRB- Just finishing up school , thinking about getting a job . You know at some point youll be married , or at least living with somebody , paying bills , forming some kind a codependent relationship . Maybe you will buy life insurance then . Why wait ? You know that pricing is based on age . Why wait four years when the price will be that much higher ? Buy it now . Lock in at the lowest rate available . Be smart . Now lets suppose youve got a bunch of college debt to carry around with you . Some credit card charges too . God forbid a drunk driver should nail you tomorrow night . Why would you want to saddle your family with these bills ? If your parents have cosigned the loan , or if you have a joint account , they are certainly exposed . Even if they havent , get them out of the line of fire of a greedy creditor . Pick up some cheap life insurance to protect them . Its the least you could do . Another point : do you know how many single men and women out there are successful ? Are making hefty incomes ? Are thriving entrepreneurs ? Tons . Many people postpone marriage and family to get their little empire launched . Along the way , they pick up bank debt . They have businesses to secure . They set up charitable foundations . They set up a whole network of financial interests , and they are at the center of that network . Where they to unfortunately disappear , the entire network would unravel . So they buy life insurance to secure their interests . As would any responsible mover and shaker .


Input: Why Does A Single Person Need Life Insurance?

Output: A single person may need life insurance for many different reasons . The single person may have debts that they want paid off if something happens to them or they may have other financial obligations that they want covered . If anyone financially depends on a single person , then life insurance would help in that situation . A single person may also need life insurance for estate planning , business purposes like keyman insurance , buy sell agreement , or an executive bonus plan . Life insurance is also a great way to leverage assets for charitable giving . This is a high level overview of possible reasons . It would be helpful to discuss your unique situation with an insurance professional .


Input: Does Life Insurance For Children Make Sense?

Output: Life insurance at any age makes sense . I believe that life insurance for children makes the most sense . When you purchase or gift a life insurance policy for a child you provide them with coverage for the rest of their lives and possibly cash value depending on the type of policy that is purchased . A child policy is typically very low cost . Every birthday life insurance becomes more costly . There are many , many more reasons to have life insurance . Contact a local agent today so that they can provide you with the information about the life products that they have to offer .


Input: How To Cancel Allstate Renters Insurance?

Output: I would suggest calling your local agent to cancel any policies that you have in force first . If can not or do not want to do that then I would suggest looking up the phone number in a phone book or online for Allstate and give them a call directly .


Input: Why Write Life Insurance In Trust?

Output: A trust is a legal entity . A trust can be flexible . A beneficiary designation is rigid . A trust can be charged with a variety of tasks . Your estate plan might call for unique handling of insurance proceeds , such as caring for a handicapped child , which will require discretion . The trustee that administers the proceeds can make important decisions after the insured has passed .


Input: Why Write Life Insurance In Trust?

Output: There are two main life insurance trusts that people use - revocable and irrevocable life insurance trusts . People use life insurance trusts because there are tax advantages that they offer , they protect the proceeds , and helps you distribute the assets to your children at the least possible cost . An irrevocable life insurance trust -LRB- ILIT -RRB- is a legal document set up to distribute life insurance proceeds in a specific manner , depending on how the trust is designed . ILITs receive special tax consideration from the IRS that is not given to life insurance policies that would otherwise be owned by a natural person or revocable trust . Since the trust is irrevocable , the terms of the trust can not be changed -LRB- think of it like putting the contents in a vault and throwing away the key - it ca n't be opened til the insured dies -RRB- . An ILIT can offer many substantial advantages to protect life insurance proceeds . It can also help you distribute your property to your children at the least possible cost . If you have a taxable estate , you have a choice - pay the tax with your own money or pay only a fraction of the tax and use someone else 's money to pay the rest . If you want to use someone elses money to pay the tax , you can buy a life insurance policy . The type of life insurance policy will depend on the specific circumstances , but is usually a survivorship universal life policy if used for estate tax purposes . The life insurance policy may be secured for pennies on each dollar of tax that you owe . By putting the life insurance policy in an irrevocable trust , the proceeds become available to pay taxes due upon death . A life insurance policy that you purchase will require the same premium whether you put the policy in the trust or keep it outside of the trust . If you put the policy in the trust , the death benefit is not included in the calculation of the size of the estate . This is a huge tax savings , especially if the proceeds are several million dollars . If you keep the policy outside of the trust , the proceeds will be included in calculating the size of the estate potentially increasing the size of the estate by a big margin , and you may therefore have to pay much higher estate taxes before any of the property can be distributed to your children or other beneficiaries . Please let me know if I can be of further assistance . Thanks very much .


Input: Does Renters Insurance Cover Hurricane Damage?

Output: The property coverage you are afforded under renter 's coverage is for your personal property -LRB- furniture , tv , audio systems , clothes , dishes , etc -RRB- , but typically not for the building . If you are asking if your own personal property would be covered if a hurricane caused the damaged , then , yes , your personal property would be covered . However , there is one caveat ... if it was wind that was determined as the cause of loss . Hurricanes can cause damage not only by wind , but by flooding . If flooding -LRB- waters rising from outside -RRB- was the cause of loss , you may not be covered , because flood is typically excluded . You could possibly purchase flood coverage in this case .


Input: What Coverage Should I Have For Car Insurance?

Output: The 1st thing you need to think about is what you can afford for the cost of insurance and also what can you afford to loose id you have inadequate coverage . Each state varies for the amount of liability that you are required to have . In Montana the limits are 25K per person -LRB- medical payment to others -RRB- 50K per accident and 10K for property damage which if you think about it that is not much coverage in the event of a major accident . Then you need to take in the factor of uninsured and underinsured both are fairly inexpensive and well worth the few dollars it is a month here in our state 1 in 3 cars has no insurances your odds of an accident and getting hit by someone with no insurance is high . Laws in most states require you to have the state minimum . I recommend the higher limits then what state requirements are however . You also have a budget in mind It does no good to buy a policy with higher limits if you can not afford the monthly payment . So it really depends on what you can afford to loose and what fits your monthly budget.I recommend talking to a local agent and seeing what they have for rates as a independent agent can compare rates with many carriers and can help you muddle through the confusion .


Input: What Coverage Should I Have For Car Insurance?

Output: OK , this will be a quick run down of coverages most commonly needed but the answer may vary some form state to state : The first coverage you need is Bodily Injury Liability . This is the amount of coverage you need to protect yourself from the claims and law suits of people you injure . The second but related coverage is the Property damage coverage for property you destroy . So it is common in the US to sell them in groups such as 100/300/100 . Now what does that mean : The first number is critical . This is the per person limit of bodily injury liability . Insurers are not stupid . They know that in 75 % of all accidents , there will be one person in each vehicle -LRB- it is just the way Americans drive -RRB- So , there is a lot less likelihood of hitting that 300,000 but it would take injury to more than one person to do it . So the odds are with your insurer . Another way to buy insurance -LRB- usually about 10 % more in cost -RRB- is through Combined Single Limits coverage , CSL gives you one bulk sum to pay the claim more as the accident happened rather than based on the sub limits of your policy . So split limits are the norm , but for a little more you might want combined single limit coverage . The next coverage is usually PIP or Medical Payments . Both of these sort of compensate for usually minor events for which the party is injured and you want to take care of the injury regardless of fault . For example you give a ride to a friend who slams the door on his finger . Yes it was his fault , but it was your car and you do n't want suing you over this . Your policy responds with either medical payment or Personal Injury . PIP is usually broader and often includes wages loss which Med Pay does not . The next group of coverages are usually the most important on your policy . These are your uninsured or under-insured motorist coverage . In about 14 % of accidents the at fault party will have no insurance . And in the next grouping of the accidents you will see coverage of the at fault party at state minimums or not much more . . Now you need the protection of UM coverage . A good rule of thumb is never buy less UM than you have for Bodily Injury Liability . This is now you protecting yourself , your family and passengers in your car . It is perhaps the most little understood coverage and most important part of your policy.Lastly as respects UM/UIM you need Uninsured and Underinsured Motorist Property Damage at a level commensurate with the ACV of you car . Next come the coverages on the physical damage to your car . The coverages are Comprehensive or also called OTC or Other than Collision . which covers many perils such as theft , fire , flood , trees falling on the vehicle etc. . Collision occurs when you hit something such as a tree , a road curb , a pothole , another vehicle etc. . This is where the value of your car is a consideration . You should also select a deductible that is right for you and your household budget From here we go to many ancillary coverages including Rental Reimbursement which is usually stated as a dollar limit for thirty days -LRB- enough time usually to get your car repaired -RRB- > The coverage is triggered by another cause of loss such as collision . The next and perhaps last coverage to consider for the general public is towing or as some companies offer road side assistance . Towing is just that towing . Whereas roadside service is usually sign and drive towing , run out of gas , lock out of car etc. . Now if you have a new car you might want replacement coverage or if leased gap coverage for loan or lease . If you do n't understand any of this gives us a call , We believe an educated consumer is better for every one .


Input: What Is The Dwelling Amount On Home Insurance?

Output: This is the amount your home itself is covered for . Generally you must be insured for at least 80 % of the replacement cost of your home . This is determined by calculations that insurance companies use based upon construction costs in your area . Most companies require you to be insured for 100 % of replacement cost . This allows the company to completely rebuild your home in the event of a total loss .


Input: What Is Key Person Disability Insurance?

Output: Traditional Key Man Disability Insurance is a form of Short Term Disability Insurance that is used to cover key -LRB- hard to replace , executives , top salespeople , etc -RRB- employees in a business . The business is the beneficiary . The income paid to the business when the key person is disabled helps the business to operate until the employee is back on their feet , or gives them the funds to find a replacement .


Input: What Is Key Person Disability Insurance?

Output: Key person disability insurance has the same premise as key person life insurance . It is to protect the business if the movers and shakers of the business were to become disabled or die . By paying the business in those situations , the business is able to stay on their feet until that employee returns or a replacement can be found . This type of coverage also helps pay for the costs of recruiting a new employee .


Input: What Is Key Person Disability Insurance?

Output: Key person disability is an executive benefit employers use in two ways : to attract and retain quality employees and to generate income if the key employee is unable to work due to prolonged sickness and/or recovery from an injury . Key persons can be those significantly impacting operation or generating revenue for the firm .


Input: What Is Key Person Disability Insurance?

Output: With Key Person disability insurance , if a vital employee becomes disabled , the business will receive disability income to cover the financial loss of the missing employee . And if a business has more than one key employee whose absence would bring the business to a halt , then Key Person disability insurance can be purchased for more than one person in the business . Any business that would find it hard to replace a vital employee needs Key Person disability insurance . Much like the saying , if a business puts all its eggs in the basket of one person , it wont be able to sustain itself should that person become disabled .


Input: Where Can I Get Cheap Car Insurance For An 18 Year Old?

Output: The best option to look for the best rates and coverage 's for an 18 year old or any age for that matter is to contact an independent agent . Independent agents are not beholden to any one company so independent agents can shop around to find you the best rates and coverage 's to fit your needs .


Input: Where To Get Whole Life Insurance?

Output: You can get Whole Life insurance from a life insurance agency that sells all types of life insurance . They will be able to compare the prices and features of different policies and help you get the best choice for your financial situation . However , not all agents are experts at selling anything but Term insurance . You can ask them , when you call , about their experience selling Whole Life . Then choose the one who provides the best answer . This is a long term purchase and you deserve the best .


Input: When Do You Not Need Disability Insurance?

Output: You would not need Disability Insurance if your household income is so high that your income is not essential to your family . Also , if your income is so low that paying Disability Insurance premiums takes away from your ability to feed or house your family , you should try to find a job that offers free DI , rather than purchase a Disability Insurance policy .


Input: What Is Business Overhead Expense Disability Insurance?

Output: A Business Overhead Expense Policy , also known as a BOE policy , is cash flow protection . This coverage protects a business when the business owner cant work due to a sickness or an injury . A BOE policy reimburses the business owner for expenses accrued during a period of disability . It helps them avoid having to dip into a business owners savings or having to ask shareholders to cover a portion of the overhead .


Input: Is travel insurance worth the money?

Output: To determine the value of a travel insurance policy review the coverage that you currently have . Some people have coverage that extends to the locality where they live , or the state in which they reside . Coverage outside of that specified area can be highly limited . The issue becomes more severe with most plans when you travel overseas . If your current coverage is inadequate to cover potential difficulties secure a travel insurance policy . Personally , I travel overseas frequently and never purchase travel insurance .


Input: Is travel insurance worth the money?

Output: I am going to make a different assumption from Julie on this and go with a travel MEDICAL insurance plan vs. auto . Travel medical insurance is designed to supplement your major medical or Medicare plan when you travel outside the United States . Most major medical plans have worldwide coverage but there are some expenses that are not covered by major medical . These would include med evac , translation of medical records and return of mortal remains . Some Medicare Advantage plans have out of country coverage but if you have original Medicare your out of country coverage is limited . It would be wise to purchase an international travel medical plan .


Input: Is travel insurance worth the money?

Output: If your car is the unfortunate victim of vandalism , will your current car insurance policy cover the claim ? The answer to this question depends on the type of auto insurance coverage you currently carry . If you only carry the minimum liability limits , the answer is no . However , if you carry comprehensive coverage , the answer is yes less any applicable annual deductible you have selected for your policy . Vandalism to your vehicle could include a variety of incidents ; key scratches , broken glass and other damage caused with malicious intent . Vandalism is different than burglary . If something was removed from your vehicle as a result of the vandalism , you must be sure to state this in your report . In most cases , comprehensive coverage will cover both theft and vandalism . The amount of coverage your policy offers depends not only on the overall type of policy you have selected , but the coverage limits , the type of claim , and your chosen annual deductible . In the case of high deductible policies , it may be more beneficial to pay for the repairs out of pocket than to run it through your insurance company . Before any claim will be paid , you must file a report with your local police department describing the nature of the vandalism .


Input: Is travel insurance worth the money?

Output: There are many types of travel insurance plans from trip interruption due to an illness or emergency to medical or accidental death while traveling . Like any insurance policy it is a transference of risk . If you are taking a $ 10,000 family vacation and $ 8,000 is already paid as non refundable and if you had an emergency and had to cancel last minute and you would not miss the $ 8,000 , do n't buy insurance . However , if you or a family member were to become ill or injured in a foreign country , could you pay the tens of thousands of dollars it may cost for stabilization care and emergency medical transport . Most people could not . The cost of travel insurance for medical care and emergency evacuation or medical transport back home to the US is almost nothing compared to the risk of cost . My answer would be yes every time .


Input: When Is Medicare Your Primary Insurance?

Output: There are many so many scenarios where Medicare exists along with other health plans that it is impossible to give a blanket answer to this question . But there are some very good publications put out by Medicare that spell out each situation where Medicare is and is not your primary insurance . You can find this information by going to medicare.gov . Also , you can call COBC -LRB- Medicare Coordination of Benefits Contractor -RRB- at 1-800-999-1188 .


Input: Do I Need Life Insurance Now That I'm Getting Married?

Output: Yes . I have been married twice . My first wife of 24 years passed away from cancer . Insurance allowed us to move on with less difficulty that we would have had if there had been no funds available . I know from first hand experience that you need to cover your most prized possessions and your spouse is a real prize -LRB- that is why you married them ; you wanted to get lucky -RRB- There are many options available when it comes to providing adequate coverage to loved ones . Contact us for more detailed information if you are in the market for great coverage .


Input: Do I Need Life Insurance Now That I'm Getting Married?

Output: Yes ! One of the primary points of getting life insurance after getting married is for income protection purposes so your spouse can maintain the same lifestyle for a given amount of time without having to worry about financial matters . When a family loses an income stream due to the death of a spouse , the surviving spouse often has to make a dramatic shift in lifestyle choices with no way to have that income immediately replaced - this can be everything from losing your house because the income is not there to pay the mortgage , to pay off the car loans , credit card debts -LRB- which can increase rapidly in this case as it 's a quick source for people to delay paying immediate bills , but draws substantially large interest rate charges and can put that person into even bigger debt -RRB- . This is where life insurance comes in . Instead of using 100 % of your own money , you use someone else 's -LRB- the insurance company -RRB- so your spouse does n't have to worry about financial matters so heavily right after the death of a loved one . For income replacement purposes , you ideally want to have at least a 5-7x income value so if you are making $ 100,000 per year , you want to have at least $ 500,000 - $ 700,000 of coverage for that type of purpose . As noted earlier , you would then add in other debts you do n't want your spouse to have to worry about such as mortgage , cars , credit cards , etc. . Term insurance works great for taking care of the mortgage and other temporary expenses because you may only need coverage for those items for a specified number of years -LRB- e.g. 20 year or 30 years -RRB- . A great idea for people is to create a step-down process where you have a larger amount of coverage in the immediate and a lower amount in later years when the larger amount of coverage may not be needed at that future point . This can help reduce costs for coverage and use the savings in premiums towards other avenues such as retirement planning , investments , savings , etc. . If you would like to go over this information in further detail , discuss your life insurance needs , and any other questions you may have , please feel free contact me by clicking on the button next to my picture and I will be happy to help . I do not charge any fees for my services and my group is licensed with over 50 insurance companies to compare rates through . I hope the information is helpful - thanks very much for your question .


Input: Do I Need Life Insurance Now That I'm Getting Married?

Output: First I 'd like to say that your question , `` Do I need life insurance now that I 'm getting married '' is a mature question that indicates you genuinely care about your future wife and family and are an intelligent thinker ! Good on ya ! The answer to whether you need insurance or not really relies on your financial strength and goals . If you have a few million dollars in liquid assets you probably do n't NEED insurance ... but you may still WANT to have Whole Life , Cash Value life insurance . The wealthiest people in the world typically are the biggest buyers of WL insurance , because of the value it has . On the other hand there are many people who are self insured feeling that the money they have acquired is sufficient to cover the needs of their family in the event of their demise . Obviously those people do n't know what the wealthiest people know about WL insurance . So in order to determine what kind of life insurance you should consider , -LRB- there are over 10 different kinds of life insurance -RRB- , and how much is appropriate , you should consult with a life insurance professional - preferably one who is not tied to just one provider and can help you to implement the program that will be the best for you . If you would like to talk about this further you can call or email me . I 'm only licensed in Hawaii , but I 'm happy to help you with the more important questions .


Input: Do I Need Life Insurance Now That I'm Getting Married?

Output: That is an excellent question ! One of your primary duties as husband or wife is to protect your spouse in the event that something were to happen to you . If you were to pass away , would your spouse be able to afford your funeral expenses , the loss of your income , and the debts you 'd leave behind to them ? If you are like most of us , that answer is no . That is where a life insurance policy becomes important . There are several policies available to you , and they run a range of prices . After the honeymoon is over , the two of you should sit down and work out your new budget . Once you have worked out what your income will be , and your monthly expenses , look at what disposable income you have left . Then look for an affordable life insurance policies for the both of you . Whole life policies are more expensive , but offer the advantages of level premium costs , coverage that you ca n't outlive , and the safety net of having an available source of quick , tax free cash in the future if needed . The money paid out when you pass is tax free to your spouse . Term life policies are a good option if money is tight . They are also the more affordable way to guarantee a higher amount of coverage for replacing an income . The advantage and the drawback to this type of policy is that the coverage ends at a specific point in time , and then you need to start over . Depending upon your age and health at the time , that may not be a problem , or it could end up costing you more for coverage after that point . There are also universal or variable life policies that promise great income growth and death benefits , but I urge you to be extremely cautious if that is the route that you decide to take . The more hype and eagerness on the agents part to sell it to you , the more risk you will have , so beware . I am not a fan of these policies . I 'd advise you to look at combining your policies auto , home , -LRB- or renters -RRB- and life under one roof if possible , to take advantage of the discounts that will be available , and shopping for a reputable independent agent is always a wise thing to do . Congratulations on your marriage , may God bless you both with many years of happiness , and health . contact me if you have questions , and thank you for asking !


Input: Do I Need Life Insurance Now That I'm Getting Married?

Output: Getting married is a commitment to that person until `` death does you part '' . If you love this person and commit to them forever , life insurance is the one product that allows you to keep your promise after `` death does you part '' . Life insurance insures your loved one will be cared for financially long after you are gone . It is the ultimate product of love . So my answer is yes , you need life insurance starting out with a new partner to go through life with and share everything . I recommend using an experienced independent life insurance broker to be sure you have the right coverage at the best price for your unique situation .


Input: Do I Need Life Insurance Now That I'm Getting Married?

Output: Newly married individuals were the most commonly approached group of people for life insurance . Life insurance is all about love . If you love someone you want to protect them . Most of us dont want to leave the person we love with a bunch of debts and obligations that exceed their ability to bear . Most people want their spouse to suffer as little as possible and certainly premature death is a devastating blow . The only person that will walk in the front door with a check is the life insurance agent .


Input: Who Are The Best Term Life Insurance Companies?

Output: That is a great question ! Honestly , when you are talking term policies , there 's not a whole lot of difference . The biggest difference will be found in the price , and even that wo n't be too much of a difference . Term policies are pretty simple , so there are n't many differences . Find a local independent agent who can give you a few quotes to compare . They will ensure that the company is reputable , and well financed . Thanks for asking !


Input: Who Are The Best Term Life Insurance Companies?

Output: The term life insurance market is too large and too diverse in its product line to make a sweeping statement or crown any one life insurance company as the reigning champion . But there are some big categories worth mentioning : nonsmoker standard or better health , nonsmoker rated health conditions and smoker . Within those categories are subsets based on gender , age and length of coverage .


Input: Who Are The Best Term Life Insurance Companies?

Output: The best term life insurance company is the one that has a policy in force on your life and will pay the death claim when you die . Statistically that is a very low percentage of policies since most term policies expire before the insured dies . However , the value of the policy is in its performance . The rates will vary somewhat as some companies specialize in certain bands of coverage . A life insurance agent can put the best policy in force on your life , just give one a call .


Input: What Was The Original Purpose Of Health Insurance?

Output: Health insurance can trace its roots back to the 1920 's in the US . The first health insurance was introduced inTexas to offset the costs of hospital stays . Blue Cross was founded specifically for this purpose . Several years later , Blue Shield was added to help offset doctor 's charges . As technological advances in the medical field particularly after WWII , costs rose rapidly . The idea of managed care was advanced with the purpose that if people would regularly schedule appointments to doctors , they could determine high risks much faster and avoid large hospital costs . In the 1970 's , the HMO -LRB- Health Maintenance Org -RRB- gained favor and under President Nixon a bill was passed that would require employers with greater than 25 employees to offer coverage through an HMO . By the early 1990 's , the demand for the flexibility of a traditional plans in addition to the cost saving of the HMO plans , brought us the PPO and the POS . Doctor Office Visit copays and prescription drug copays became the norm . The number of laws governing healthcare and what policies were required to pay increased nearly 1000 % . Technological advances were happening at a `` break-neck '' pace . With each law requiring more health issues to be covered and the advances in technology , ultimatelycaused premiums to increase dramatically . In 1993 , in TN , a $ 1000 deductible for a 35 year old male was $ 41 per month . How things have changed ! The government 's answer was to fix the financing mechanism , concluding that they could control costs by forcing the financing -LRB- aka insurance companies -RRB- to follow strict regulations . Sounds great except : - insurance companies were required to minimize the amounts they paid doctors , hospitals , etc -LRB- providers -RRB- ; while providers were having to serve twice as many patients for the same money and go into $ 100k plus in debt just to get through med school . Can you say train wreck?Which brings us to where we are today ! That maybe a bit more than you asked in questioning the original purpose of health insurance , which in simple terms , was set up to exchange premium for the possibility of an expensive hospital stay in the future .


Input: What Was The Original Purpose Of Health Insurance?

Output: A great question and one that the answer for allows us to contrast how a product or service can evolve over time into something quite different from it 's original concept . Over a century ago health insurance was introduced as a financial protection against serious injury or illness . At that time and for decades after , the state of the medical arts was such that there was little your doctor or local hospital could do to deal with your cancer or heart attack other than dull the pain . People 's life expectancies were much shorter than today and a whole host of medical conditions we recognize and treat in the 21st century were unrecognized or untreatable . Wage and price controls imposed by the Roosevelt administration during WWII became the catalyst for wide spread employer based health insurance as employee benefits were not subject to these government controls and offering benefits gave employers a recruitment advantage in the labor force short marketplace of that era . This practice continued and expanded along with the American economy in the post war era and became institutionalized . What has changed in our lifetimes have been the advances in health care , the things that we now consider as being healthcare -LRB- do you ever wonder how our ancestors who were dealing with wars , attacks by native Americans , droughts & floods dealt with stress and depression before we had a pill for everything ? -RRB- , the fact that we live much longer and the introduction of government programs such as Medicare and Medicaid which expanded access to health care while at the same time introducing pricing distortions in the health care marketplace . These government programs , no matter how noble their intent , have never paid market rates for health care and set in motion the cost shifting process by medical providers of inflating their charges for those in private health insurance . Since the late 70 's health insurance has evolved from just protection against catastrophic loss into much more of an ongoing maintenance contract that covers more and more of the routine areas of health care people once paid for themselves . Kind of like buying a car and having all the oil changes & tire rotations included for `` free '' , they 're not really free but are buried into the higher cost you are paying for the car . So , that is how the health insurance concept originated and the story of how it has morphed into the major social and political issue our nation is struggling with today .


Input: What Was The Original Purpose Of Health Insurance?

Output: The purpose of health insurance originates in the same concept as for any type of insurance - to protect yourself financially in the event of a catastrophic event by pooling the risk and shifting it to a third party -LRB- the insurance company -RRB- . In return for a monthly premium , the insurance company will absorb the risk of incurring a massive expense should something happen to the insured individual - if something does happen , they would the financial hit instead of you . In the case of health insurance , a catastrophic event can be many things - a good example is having a surgery performed . A given surgery could cost $ 100,000 or more . Your average person could not afford to write that check . If you have any other questions about health insurance , send me a message by clicking on the `` contact me '' button .


Input: What Was The Original Purpose Of Health Insurance?

Output: The original purpose of health insurance stands to be the same as it is today 's . Protect against financial loss in the event of an unexpected illness or accident . The core of health insurance has never changed . Obviously , plans , carriers , rates , access and networks have changed , but that is to be expected in any industry inside a capitalist society . For more information on today 's health insurance landscape visit www.clminsure.com or call 561-320-2978


Input: Can You Change Your Auto Insurance At Any Time?

Output: There is no penalty I 'm aware of for `` switching '' insurers but there may be a penalty for terminating your auto insurance policy prior to its expiration date . The `` penalty '' is often 5-10 % of the unearned premium . The unearned premium is the amount the insurance company would have charged you for the coverage from the date you are cancelling to the date coverage would have normally expired . If you are `` switching '' insurers to achieve a significant premium savings or better coverage , the `` penalty '' should not be a major reason for delaying that decision .


Input: If already insured, will insurance pay for Federal Pacific Stab-Lok panel that show signs of issues?

Output: This is more of a maintenance issue and would not be covered under most policies . The standard homeowners policy covers you for direct physical damage to property which is sudden and accidental in nature . If the Stab-Lok panel does malfunction and cause damage to your property , the ensuing damages would be covered . Homeowners insurance is not intended to assist with the maintenance of the home and its systems .


Input: If already insured, will insurance pay for Federal Pacific Stab-Lok panel that show signs of issues?

Output: That is a great question ! There have been issues with Federal-Pacific breaker boxes for years - I 've heard that nearly 1 in 4 are defective ... They were actually investigated some years ago , and found guilty of fraudulent testing . Faulty wiring is usually a covered expense so your homeowners policy should cover some or all of the cost -LRB- minus deductible -RRB- . They put an awful lot of those things in homes during that time , so there are a lot of folks in the same boat you are . Good luck ! Thanks for asking !


Input: When To Drop Disability Insurance?

Output: The time to drop Disability Insurance would be when you no longer have a need for it . I.e. . You have enough savings that you could get by without your current paycheck for as long as your disability could last , or you have the option to retire soon and no longer need that protection .


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

Output: Life Insurance proceeds are non taxable when paid to the named beneficiary , or beneficiaries . Now , once the beneficiary receives the proceeds , if they are subsequently invested or deposited into a savings account , for example , then any interest or other form of growth that the initial deposited money generates IS then taxable .


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

Output: Generally a beneficiary does n't pay income tax on the lump sum distribution of the proceeds of a life insurance policy . They are liable for any interest that might accrue which is particularly applicable if they elect a settlement option other than lump sum . If the policy is owned by the descedent , it is then includable in the estate and can be subject to either state or federal death taxes .


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

Output: Whenever the beneficiary receives the proceeds from a death claim , he will not pay taxes on that dollar amount . Example - $ 100,000 is paid to spouse , she will not pay taxes on that amount because life insurance is always a tax free benefit . My recommendation is to annuitize the benefit so that she will receive a monthly income . This way she will not be inclined to blow it all but can manage it over a long period of time .


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

Output: Great question ! There are cases where you might be liable for some estate taxes , but as far as income taxes go , no , your windfall from a life insurance policy is not taxable . This is one of the best reasons to own a policy - you can pass along money to help your survivors . Thanks for asking !


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

Output: Life insurance payout is usually not taxable however if the policy was owned by the person of passing and the payout is above $ 5.34 million . Federal estate tax will have to be paid . If the payout is below that or if the owner of the policy are the beneficiaries the estate tax will not have to be paid .


Input: What Is Medicare PPO & HMO?

Output: A PPO is a preferred provider organization . You can see any doctor that accepts Medicare but you will pay a higher copay if you go outside the network and fail to stay in a network of doctors set up by the plan . N HMO is a Health Maintenance Organization . You MUST stay in the network set up by the plan or you have no coverage .


Input: Is My Pension Plan Guaranteed?

Output: Is my pension plan guaranteed ? It is the consummate question of the hour . Whether you 're addressing federal or state government sponsored pension plans , guarantees are only as good as the sponsoring authority behind them . Tax payers may have the last say on pension commitments . In the private sector , many pension funds are still recovering from the market meltdown of 2008 . And even with recent market gains of the last couple of years , most pension plans are underfunded . Whether or not corporations make up the short fall is yet to be seen as pension reform is center stage in the great retirement debate in the U.S.


Input: What Are The Functions Of Life Insurance Companies?

Output: The Functions Of Life Insurance Companies are to provide mortality products to the consumer for indemnification , income and inheritance planning scenarios . Modern life insurance has been around in some form or another for over 300 years . Developing profitable product lines for shareholders or mutual policy holders is the core financial goal of a life insurance company .


Input: Which Retirement Plan Comes With A Guaranteed Benefit At Retirement?

Output: There are different types of guaranteed benefits . In Canada , a defined benefit pension plan as the name implies provides a pension that is guaranteed based on a formula . The unknown is how much the employer is required to contribute . Guaranteed investment annuities and segregated funds provide a guaranteed annuity income at retirement . What combination is best for you depends . If you would like to work with a local Retirement Planner , you could start with a Google search . For example , if you search for : retirement planner Halifax or retirement planning Halifax , my name , along with several others , will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Which Retirement Plan Comes With A Guaranteed Benefit At Retirement?

Output: There are qualified defined benefit retirement plans , although not as popular than defined contribution plans . A qualified defined benefit plan sets a retirement date and future benefit . To maintain the schedule date and benefit , adjustments in contributions are made to maintain the target date and benefit . Non-qualified annuity plans that are annuitized the policy for lifetime income generally have a fixed benefit or payout as well .


Input: Which Retirement Plan Comes With A Guaranteed Benefit At Retirement?

Output: Lifetime income is the goal of every retiree . The most efficient way to reach that goal is to transfer your accumulation into a single premium immediate annuity . The payments will not cease until you die . The return is guaranteed by the life insurance company issuing the contract . It might not be the total solution but it does have the guarantees that you are looking for .


Input: How Can I Reduce My Car Insurance Quote?

Output: That is a great question ! But let 's be clear - a quote is just an estimate of what your premium will be . It can change based on underwriting , or other factors after the agent has given it to you . That said , some ways to lower your auto insurance costs are to raise the amount of your deductible - a higher deductible generally reflects in lower premiums . You can also try getting your policy through a company where you have other policies - often insurers will give discounts for multiple policies . Best way ? Be a safe driver , and make your payments on time . Thank you for asking !


Input: How Can I Reduce My Car Insurance Quote?

Output: Managing your auto insurance costs can be done in various ways . Remember as my colleague said that a quote is just a proposal . The premium is based upon your application and underwriting processing . That having been said , if you carry Comprehensive and Collision coverage , choose the highest deductible you think you could reasonably afford to pay if your car was damaged . You can also manage costs by adjusting your liability coverage to reflect your financial exposure . A great way to manage cost without increasing your exposure -LRB- as the previous two examples would -RRB- is to take advantage of any discounts your company may offer . Your Insurance Professional is a great resource for this information .


Input: Can Fixed Annuities Lose Money?

Output: Fixed annuities are only as solvent as the insurance company behind them . So review the ratings to make sure you feel financially comfortable with your company selection . Generally speaking fixed annuities offers a guaranteed interest rate over a fixed period of time and both those features are contractual guaranteed as long as you hold the contract until it matures .


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

Output: Once a disability insurance policy is in force , i.e. delivery requirements have been met and the modal premium paid , the elimination or waiting period must take place . The waiting period starts at the filing of the claim , e.g. 90 days . after that the monthly benefits begin . The benefits are generally tax free .


Input: How Much Whole Life Insurance Do I Need?

Output: There is not set answer to that question . A lot depends on your age , responsibilities , tax situation , etc. . For many people they only need around $ 15,000 to cover all funeral , cemetery , medical bills , and money to settle their estate . But even that depends on your age as the cost of everything -LRB- including funerals double every 15-years give or take . For other people such as a guy that took a pension or annuity based on his life only -LRB- not his spouses -RRB- he needs a LOT more whole life insurance to keep his wife from falling into poverty if he dies first . There are many different situations for different people .


Input: How Much Whole Life Insurance Do I Need?

Output: There is n't a correct answer to this question , only the answer each individual comes to in regard to their wants and needs . The catch to the decision of when or how much to buy is the longer you wait the more expensive it becomes to purchase . Something to consider that rarely is considered is the purchase of Whole Life insurance is control . A whole life is the one policy where the price is set at the begining and stays that way through the life of the policy . With term the insured does not really control cost the insurance carrier does through the life of the policy . An insurance company can not change or alter a whole life policy without your permission . Since you can combine policies and types of coverage -LRB- it is never all or nothing -RRB- how much whole life is entirely up to you . The split is up to the individual . Some people carry combinations of policies with the idea that they will shed the term as time goes by , ending up with the whole life at the end of a long happy life . Last thought on this subject . An insurance company has less power over the insured with whole life . They have to `` ask '' you and you have to agree to any changes . Where this can be reassuring is if your health changes down the road . I have several serious health conditions and it is good to know my life insurance company can not raise my price or change anything without my say so .


Input: What Kind Of Car Insurance Is Required By Law?

Output: Any state that requires auto insurance in order to register and maintain that registration will require Liability and usually Uninsured / Underinsured Motorist coverages . The base amount of each state 's requirement can vary state to state of course , so it is important to check with your insurance professional to be sure that you ave the coverage that is right for your circumstances .


Input: What Kind Of Car Insurance Is Required By Law?

Output: I can only speak for Wisconsin as that is the only state that I am currently licensed in . Wisconsin to the best of my knowledge as of this date requires liability coverage only for licensed drivers . This means bodily injury , property damage , uninsured motorist , and under-insured motorist . Medical payments currently is not a required coverage but clients must sign a document to opt out this coverage . All of these coverage must meet the states minimum coverage amount also . Contact a local agent to find out more about the coverage requirements within your state and the pricing associated with them .


Input: What Does Warren Buffett Say About Annuities?

Output: Warren Buffet 's company Berkshire Hathaway Inc.entered into the annuity market in a deal with Cigna Corp earlier this year . The purchase drew significant speculation that Warren was high on annuities . But most analysts agree Warren 's foray into annuities was an income play on a block of existing annuity contracts , not an endorsement of them .


Input: Who Receives Disability Insurance?

Output: The person who receives a disability insurance benefit from an individual or group policy is the person who becomes disabled . The benefit replaces some of the income lost by being unable to work . Some business owners take out disability insurance on key employees that would pay the benefit to the business while that employee is disabled . They normally only pay the benefit long enough to find a new employee , if the disability appears to be permanent .


Input: Can I Get A Tax Credit For Health Insurance?

Output: The Affordable Care Act -LRB- ObamaCare -RRB- includes a provision for what are referred to as advanced premium tax subsidies to help pay a portion of the cost of individual health insurance . To qualify for this tax credit an individual/couple/family must have an Adjusted Gross Income level that falls approximately between 100 % and 400 % of the Federal Poverty Level and they must purchase their individual health insurance through a government health insurance marketplace -LRB- either state run or Federally managed -RRB- . The tax credit issue will be a tricky one as it requires people to estimate what their income levels will be in the coming year when they apply for coverage with a subsidy . When that person does their tax return for that year a true up analysis will be done by the IRS to determine if the person received the appropriate subsidy level , was under subsidized or over subsidized . Depending upon their findings the taxpayer may find themselves getting an extra refund at tax time if they were under subsidized while if it is determined they were over subsidized the amount of overpayment will be withheld from any tax refund they might qualify for . If it is determined that a person fraudulently claimed an insurance tax credit to which they were not entitled this could lead to felony charges against them in the worst case scenario .


Input: How Much Does Home Insurance Go Up With A Pool?

Output: Homeowners insurance really does not go up with a pool although some carriers may have a small surcharge . What you want to look at however is liability coverage . You may want to increase your liability limits since your liability exposure increases with a pool . Such as a slip and fall or worse . A pool itself will fall under your other structure coverage . I suggest to consult your agent to see if you have enough coverage . Usually the pool is less likely to suffer damages , however your pumps and filters , heater you would want to make sure are covered .


Input: How Much Does Home Insurance Go Up With A Pool?

Output: Assuming your pool is installed correctly , properly maintained with adequate safeguards in place , installing a pool should have little to no effect on your premium . Most policies limits on appurtenant structures -LRB- in-ground pools -RRB- or personal property -LRB- above ground pools -RRB- are more than adequate . In rare cases , when these limits must be increased , the additional premium should not be more than $ 50-100 a year . Diving boards , water slides and other accessories presenting unusual hazards may cause a problem . Some insurers simply refuse to write or renew policies with this type of exposure . In these cases , you could see a significant increase in premium coupled with more restrictive coverage . Checking with your insurance company or agent is something I would do prior to installing a pool . If you are not comfortable with the answer , get other opinions . There is no one size , fits all .


Input: When Does Health Insurance End?

Output: If you are talking about the open enrollment period then it ends on March 31st of this year for ACA plans unless there is a special circumstance like losing group coverage or coming off of COBRA . Now , if you miss the open enrollment period either by accident or by design you can purchase alternative plans that are much like the traditional and more affordable plans from the past . If you any further questions or need additional information on alternative plans please contact Ronald G Hinch at 843-450-9879 .


Input: Does Renters Insurance Cover Earthquake Damage?

Output: A standard Renters Insurance policy does not cover the peril of earthquake . Renters Insurance will protect the insured 's personal belongings up to the policy limits provided . Some insurance carriers in various States will allow the addition of an Endorsement to include the peril of earthquake to the policy thereby including protection to your personal belongings that may be damaged by an Earthquake .


Input: What Is Renters Insurance Used For?

Output: Renters insurance provide liability protection and personal property protection for the insured in the event of a covered loss . It can also provide some loss of use coverage that will provide funds so that you can find another place to live in the event of a total loss . If you would like to know all of the coverages and exclusions with renters insurance contact a local agent . This is coverage no one should be without if they are renting .


Input: Will Homeowners Insurance Cover Wind Damage?

Output: Homeowner policies typically cover wind damage to insured property . However , policyholders need to determine the deductible that will be applied in the event of damage from wind . For example , in Florida where wind is a particular frequency concern , carriers assign higher deductibles that are applied at settlement of a loss caused by wind . It is not uncommon for a deductible that is twice or more of the amount of dwelling coverage deductible for damage from other types of loss causes . The wind deductible is usually a lot higher than your standard homeowner policy deductible . Check with your local independent agency for a review based on your needs and budget .


Input: Will Medicare Pay For Durable Medical Equipment?

Output: Medicare Part B will cover a good amount of Durable Medical Equipment items -LRB- DMEs -RRB- . As a rule of thumb , if your doctor prescribes it because it 's medically necessary , Medicare will cover it . Please note , Medicare only pays for about 80 % of the cost - a Medigap plan can cover all or a portion of the other 20 % -LRB- does n't sound like much , but the dollar figure can add up quickly -RRB- . If you do n't have one already , I would suggest securing a Medigap plan . A big advantage of the Medigap plans are that they create a very predictable expense structure so you 're not hit with big medical bills for thousands of dollars . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: Is Health Insurance Cheaper In Different States?

Output: Yes , Just like the cost of living is lower in some states , the cost of medical care is lower in some states . If the cost of care is lower , the insurance company can offer lower rates to members . From the latest information I could find , Utah has the cheapest average rates and Alaska has the most expensive . Some people feel that being able to get insurance from a different state would lower their costs . While this is true for states that are more expensive , it would have the effect of raising the rates in the cheaper states .


Input: How Much Does Annuities Cost?

Output: Annuities cost what you have to contribute to them . If you want to purchase an immediate annuity , you put in a lump sum that then gets paid back to you in period payments . If you purchase a deferred annuity , you make payments that add up inside the contract until you decide to take them out in regular payments back to you .


Input: Which Is The Best Car Insurance In South Carolina?

Output: South Carolina has many reputable car insurance companies . Regardless whether you live in Columbia , Hilton Head or another large or small city , you 'll have many affordable options to choose from . Esurance , Progressive , Geico , Allstate and State Farm are a few of the larger carriers . However , there are many smaller companies that will have very good prices , depending on your specific situation .


Input: Which Mutual Fund Company Is Best For Your IRA?

Output: Deciding which Mutual Fund Company is BEST for your IRA is not something I can answer here . Let me explain . Investing is all about how much time you have to invest , how you feel and react when the Market corrects , and what you really are looking for or rather what is your goal . I would recommend that you contact a registered representative who will walk you through what your investment risk is , review your goals and make a recommendation . There are literally thousands of options to choose from so getting some guidance is not a bad idea .


Input: Does My Car Insurance Cover Uhaul Rental?

Output: Liability coverage is always with the towing unit . So if you damage someone else or hit a low hanging sign your liability coverage is going to respond . If you are asking if the trailer itself is covered the answer generally would be only if you buy that coverage form the U haul dealer .


Input: Does Full Coverage Health Insurance Cover?

Output: I will assume you are talking about a health insurance plan that offers first dollar coverage , meaning you pay a premium and the insurance company pays for everything else . In today 's market place , there is no such animal . All plans have some type of cost sharing built into them . It can be in the way of deductibles , copays , or co-insurance . The question could also be referring to what most call major medical insurance . These policies pay your doctor and hospital for treatment you received -LRB- after you pay the copay or deductible -RRB- . There are some plans call indemnity -LRB- sometimes called supplemental -RRB- plans . AFLAC is a well known seller of indemnity plans . While they have their place in the market place , they should not be confused with major medical insurance . Major medical insurance will protect you against a large medical bill -LRB- say $ 100,000 + -RRB- ; while indemnity plans are designed to pay you a fixed about of money based on the limits of the policy . You want to have a major medical plan in place first , then possibly add an indemnity plan second .


Input: What Happens To My Renters Insurance If I Move?

Output: I am with Mark on this one , but be sure you are dealing with a licensed agent in your new locale . Agents and Insurance in general is governed by the various 50 states . So , if you move out of one state to another the coverage may need to be rewritten or the agent may not licensed there . Your existing agent or company can often offer referral information or references in the new state.They are there to help you so avail yourself of there services .


Input: What Happens To My Renters Insurance If I Move?

Output: Most renters insurance polices will just follow you during the move . In fact the policy should cover you in both places for up to 30 days . I recommend you contact your agent to advise of the move so your agent can update your policy to reflect your new location and any coverage changes that may be needed .


Input: What Is Covered Under Medigap?

Output: What is covered under Medigap ? Well , it will depend on what plan choice you decide upon . There are different supplements indicated by a letter that provide different levels of coverage to fill in those gaps in your Medicare A and B coverage . You can choose those options that your state allows to be sold in it . There usually are several choices and costs to choose from .


Input: What Is Covered Under Medigap?

Output: Medigap Plans are designed to cover what Medicare Part A & B does not . Which plan you have will depend on how much it will cover . For example , Plan F covers all deductibles , coinsurance and copays of Medicare Part A & B . It is the most comprehensive plan on the market , however , there are some other great plans that may fit your needs as well . I would be happy to answer any other questions you have .


Input: What Are Annuity Surrender Charges?

Output: That is a great question ! The idea behind a deferred annuity is that it sits for a period of time so that the money can grow . While your money is in that account growing , the insurance company is counting on it to make investments with , and if you pull that money early it defeats the purpose , so the company charges you for doing it . These charges are the surrender charges . They are usually highest in the first year that you have the annuity , and lessen as time goes on , until you have reached the contracted limit . These fees often start at 10 % , so they can be very costly . Hopefully your agent explained this to you very clearly , and did a suitability study with you before you bought the annuity . I hope this helps , if you have questions , please drop me a line , okay ? Thanks for asking !


Input: What Are Annuity Surrender Charges?

Output: An annuity is a long term cash accumulation product . The rate of interest being promised by the insurance company is geared to the companys long term investment program . When an annuity is surrendered it interrupts the companys plan forcing it to liquidate assets . This could come at an inconvenient time . Much like any other long term accumulation vehicle the company requires a surrender charge . This charge normally reduces to nothing over a period of years .


Input: What Does Renters Insurance Pay For?

Output: The company pays for everything for which you become liable by law involving bodily injury or property damage . The company will defend you in such a lawsuit up to the limits of the policy . The company makes you whole if you lose personal property due to a covered loss . It pays for your personal property while you are in school . It pays for additional living costs if your unit is unfit because of a covered loss . It pays for the removal of your property to avoid further damage . It pays for removal of debris in the event of an insured loss . It pays for fire department charges . It also pays for trees , plants and shrubs , grave markers and improvements you make to the unit . There are other coverages which are included and others which are optional .


Input: How Can I Compare Long Term Care Insurance Quotes In Illinois?

Output: Comparing Long Term Care plans can be confusing for most people . Sometimes the underwriting process can be lengthy and LTC plans can be costly . When you 're looking through the information from the different companies and they talk about the average length of stay in a nursing home , you have to look beyond the stated number that includes all ages and focus on ages 75 and older . When you look at that age group nearly 3 out of 10 spend less than 100 days and the other 6 spend less than two years . Fro most people I 've found that Short Term Care Plans are a much better choice . They can provide the same type of income for a fraction of the cost . Most plans are issued in under 10 day .


Input: How Can I Compare Long Term Care Insurance Quotes In Illinois?

Output: To compare Long Term Care Insurance quotes in Illinois , contact one of the contributors on this board who write about Long Term Care Insurance , or get a referral from someone you trust . When you are given long term care insurance quotes , they will be presented in a grid that compares the features and rates of at least 2-3 of your best options . With someone explaining those , it makes the process much simpler than you might think .


Input: How Can I Compare Long Term Care Insurance Quotes In Illinois?

Output: Long term care insurance has a small field of companies that offer full coverage policies . There are several online brokerage outlets that offer the many of the core carriers in the long term care market . Some of them spreadsheet the cost and the policy provisions for a side by side comparison . One of the leading companies is Genworth .


Input: Can I Rent A Car From Enterprise Without Insurance?

Output: If you do not have your own insurance policy to protect you when you rent a car you do have the option to purchase the insurance provided by the rental car company . You must have one or the other as any rental car company will not let you take their vehicle on the road without insurance . Keep in mind the insurance provided by the rental car companies are generally state minimumcoverage 's .


Input: Does Everyone Pay The Same For Medicare?

Output: While Medicare Part A is free to everyone who qualifies for Medicare by having paid into Medicare taxes for 40 quarters , Medicare Part B has a premium . This premium is the same for most people , but not all people . Persons with higher incomes pay proportionately more for Medicare Part B , and as of 2011 , higher income Medicare recipients also pay more for Part D .


Input: Does Term Life Insurance Build Cash Value?

Output: There are term policies that have cash value . The reason that these policies exist is to provide a measure of extra flexibility at the end of the contract . These policies generally renew at a lower premium than standard term policies and also can assist in the initial premium if the insured decides to convert the policy to whole life or some other form of permanent insurance .


Input: Does Term Life Insurance Build Cash Value?

Output: That is a great question ! There is a reason why term life policies are so cheap , and a reason why you should know exactly what these policies are best designed to do . There is no cash value in a term life policy , as your premium is designed to only cover the cost of the insurance . The policy reaches its term and ends , and you walk away , or pay dearly to renew . This can be a real issue when you learn that the policies advertised so heavily by companies like AARP and AAA are term policies that end when the policy holder turns 80 . I hope that helps , thanks for asking !


Input: Does Term Life Insurance Build Cash Value?

Output: One type of term policy that does build cash value is ROP -LRB- Return of Premium -RRB- Term . Most ROP Term policies will pay back part of the premium you pay in , if you keep the policy past the halfway mark . If you survive and keep the policy to the end of the term , you get back all the premium you paid in . These policies start out at a higher premium than regular term insurance , but when the premium is returned , it is not taxable . So return of premium term life insurance can be a good way of getting death protection and a form of savings at the same time .


Input: Does Term Life Insurance Build Cash Value?

Output: No , term life insurance does not build cash value . The idea of term insurance is to get the most `` bang for your buck '' meaning your getting a lot of coverage for a low rate , because the premiums are only fixed and guaranteed for a specific number of years -LRB- e.g. 10 , 15 , 20 , 25 , or 30 years -RRB- . Only permanent insurance -LRB- universal life and whole life -RRB- programs build cash value . Please feel free to send me a private message if you would like assistance with your life insurance program .


Input: Does Renters Insurance Cover Broken Glass?

Output: It may . Depending on the circumstances that led up to the broken glass your renters insurance may provide coverage to repair the glass less your deductible . 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: Does Homeowners Insurance Cover Roof Damage?

Output: Yes typically it is covered and covered on a replacement cost basis . Due to the frequency of major hail and windstorms in several states , we are seeing several companies offer only Actual cash value for older rooftops . So be sure you understand what your coverage is and how it will respond to a hail or windstorm -LRB- tornado or hurricane -RRB- . In some state per cent deductibles have been in use for decades such as in Texas . However much of the country has dollar amount deductibles . Also be aware that coverage is not automatically available in the voluntary market in all areas of coastal states So if you live in the fourteen counties in Texas along the Gulf or in Florida every where , you may have to obtain wind and hail coverage through a residual market mechanism such as the Texas Wind Insurance Association or Citizens Property Insurance in FL . A local agent in any coastal state should be a good starting point to understand what is available and where in your part of the country .


Input: Does Medicare Cover Hep B?

Output: Yes , Medicare will cover Hep B . If you 're asking `` Can I get Medicare if I have Hep B '' ... You can get Part A -LRB- hospitalization -RRB- , Part B -LRB- out of hospital -RRB- , Part D -LRB- drug coverage -RRB- and Part C -LRB- Medicare Advantage -RRB- . If you wish to purchase supplemental coverage such as Plan F , the is no underwriting when you age into Medicare , but there may be underwriting beyond that .


Input: What Is The Cheapest Health Insurance In Michigan?

Output: The cheapest health insurance plans available in Michigan are catastrophic plans or high deductible health plans . These policies make all medical covered medical expenses -LRB- except preventative services -RRB- subject to your deductible and coinsurance before insurance benefits begin to payout . All major carriers offer these types of plan to keep costs down while still providing major medical benefits to the insured . If you 're looking for this type of plan and the enrollment period is closed you 'll want to look for a catastrophic short term medical plan to carry until the next enrollment period through the health marketplace . You can find me at : www.clminsure.com or always call at 561-320-2978


Input: How To Calculate A Deferred Annuity?

Output: This ca n't be answered without much more information . If it is a variable annuity , the accumulation may vary as can the actual payout . If it is a fixed annuity , this will be explicitly outlined in your paperwork . This is assuming you are talking about payout . If you are talking about amount and duration required to pay in for a certain income , it would be best to talk with an agent in your area . The agent will be able to assist you in coming up with the desired income from the annuity and you can work backward from there .


Input: Will Homeowners Insurance Cover Water Damage From A Roof Leak?

Output: Homeowners insurance will cover water damage from a roof leak if the roof sustained damage from a recent storm and the damage to the roof resulted in damage inside the home . If the roof has issues that have gone unrepaired , water damage in this circumstance would not be covered . The roof damage and the water damage must have occured at the same time . Keith Prim - Dallas , TX 214-435-0791


Input: Will Homeowners Insurance Cover Water Damage From A Roof Leak?

Output: I agree with what Keith has said above . As long as you follow the conditions of the policy , and thewater damage to the home occured at the same time as the roof damage you should be covered . As long as whatever caused the damage in the first place is a covered cause of loss.The conditions of the policy will state that the insurance company does not have to provide coverage under the policy if you have failed to comply with the duties responsible by you , an `` insured '' seeking coverage , or a respresentative of either . A helpful acronym explaining your duties is PINES . Protect the property from further loss Inventory the damaged property Notify the carrier or agent Exhibit the property to an adjuster Submit a sworn proof of loss . So if the cause of loss is covered and you followed the conditions , yes you should have coverage in place . Have a great day and good luck with your claim . Best , Josh DeBoer 918-582-8206


Input: What Percent Of Americans Have Long Term Care Insurance?

Output: Approximately 10 % of Americans have Long Term Care Insurance . Many long term care insurance plans are now tax qualified so that premiums can be deducted on income tax . Most policies now also cover all levels of care , including at home benefits . These efforts to encourage more Americans to buy more long term care insurance are complicated by the fact that rates are going up and fewer companies are selling Long Term Care insurance . But for that percentage to has it , there are many benefits .


Input: When Should I Buy Disability Insurance?

Output: You should buy Disability Insurance when you realize that you or your family could not get by without your steady income . Like Life and Health insurance , Disability insurance is partially based on the health of the insured person , so it is also best to buy it before you have a health condition that would increase your chances of becoming disabled -LRB- e.g. MS or diabetes -RRB- .


Input: When Should I Buy Disability Insurance?

Output: As soon as you rely on an income -LRB- which for most people , that 's always -RRB- , you should look into getting disability insurance . It 's important to realize that workers in their 20s are n't necessarily too young for DI because they 're typically in better health . If you wait until you 're older , there 's a greater chance that you 'll have a pre-existing condition .


Input: What Is The Maximum You Can Contribute To A Roth 401K?

Output: A Roth 401k is a designated Roth account . A designated Roth account is a feature in new or existing 401k , 403b or 457b plans that permit such plans to accept designated Roth contributions . The combined amount you can contribute to all designated Roth accounts in any one year for an individual under 50 years of age is $ 17,500 for 2014 . If you are age 50 or older by the end of 2014 , you can add an additional $ 5,500 in catch-up contributions . You can also contribute to both a Roth 401k and a Roth IRA in the same year which can increase the total contribution amount by $ 6,500 if you are 50 or older .


Input: What Happens If You Don't Have Car Insurance In Connecticut?

Output: That can be a problem on a few levels . There is , of course , the obvious . If you have a car and no insurance , then if it is damaged in an accident or stolen for example , you pay for your own loss . Without insurance , if you cause an accident , you 'll also pay for the damages and poossibly injury to the other person and their car . Needless to say , in either case , you are out quite a lot of your hard earned money . But here is another problem you will have . CT , like many states require car insurance in order to register a car . If you cancel your insurance , eventually CT DMV is going to catch up with you and the fines can be pretty stiff . Bottom line , the best advice for saving money is to buy and maintain quality car insurance protecting you for the coverage you need .


Input: How To Write A Life Insurance Claim Letter?

Output: How to write a letter for a life insurance claim ? There really is n't a need to . Contact the carrier or go online and you will find or request a death claim form . In it , there should be instructions on how to fill out and what additonal paperwork may be necessary . Usually a certified copy of the death certificate is needed for submittal . Your agent should be able to help you complete the steps you need to .


Input: How To Write A Life Insurance Claim Letter?

Output: Writing a cover letter to insurance carriers informing them of the death of an insured should discuss the cause of death and the circumstances that surround it . Short and to the point communication is best . In the vast majority of cases , a family member , who may also be a beneficiary , compose cover letters to the insurance company . If the death occurred during the first two years , the insurance company will investigate the death with greater due diligence to confirm if suicide was that cause of death . If suicide was the cause of death the claim would be denied .


Input: How To Be An Effective Life Insurance Agent?

Output: The simple answer is to always keep your clients needs first . This does not mean just being an order taker . You are the expert so clients need to be aware of the options that are available to them . Example : if a client is looking for a term policy , show them a straight underwritten term , a term that offers Living Benefits , a term that provides a Return of Premium & perhaps a Non-Medical term where minimal underwriting is necessary . Ask the clients questions to find out why they are looking for a specific face amount . How did they come up with that number ? Ask how much they would like to leave on a monthly basis with a lump sum for final expenses . Generally these will lead to higher face amounts . Sometimes you need to determine what the money commitment is so you can design a strategy that can meet the minimal need and allow for future adjustments . An Effective Life Insurance Agent is always staying educated , keeping up with industry trends , product changes and how to design the best strategies for their clients .


Input: How To Be An Effective Life Insurance Agent?

Output: The operative word here is effective . A life insurance agent is obligated to serve his/her client , never the insurance company . A life insurance agent must familiarize themselves with the broad range of product inventory to serve the needs of his/her client . A life insurance agent must have a handle on the tax items and associated tax strategies of life insurance to best serve his/her client . A life insurance agents original title was field underwriter and it that spirit he/she must have a working knowledge of the various health conditions that effect he/her client . These are just the beginning of becoming an effective life insurance agent .


Input: How To Be An Effective Life Insurance Agent?

Output: Effective . Hmmm . After 32 years in the business , I believe -LRB- I hope ! -RRB- I 'm effective in how I service and explain plans and create and manage the websites I own . But ... if there was one feature that I believe makes myself effective ... is simply listening . I need to know what my client needs and how he hopes to achieve that . By listening instead of talking , I 'm always able to provide the best possible product for their unique situation . Yes ... after 32 years in the business ... I still listen !


Input: What Does Medicare Cover On Nursing Homes?

Output: If the hospital stay that preceded your admittance into the nursing home was at least a three day stay , was for the condition that requires skilled care , and a few other stipulations , you will be admitted to a Medicare bed in the nursing home . For 20 days , all nursing home expenses are paid by Medicare . After 20 days , there is a copay until the maximum length of 100 days , at which time Medicare no longer contributes to nursing home expenses .


Input: Is Life Insurance Necessary For A Single Person?

Output: Life insurance coverage is based on your beneficiaries suffering economic loss or obligated to pay final expense items as a blood relative . If theyre no beneficiaries or financial obligations , then life insurance may not be for you . But most people have at least one of these two people groups to consider when weighing the need for life insurance . Desiring tax advantaged income for supplemental retirement funding may be an excellent reason for a single person to consider purchasing cash value life insurance .


Input: Is Life Insurance Necessary For A Single Person?

Output: Is life insurance necessary for a single person ? I will answer based on my reasons for having life insurance when I was a single person , it is up to the reader to decide if that is a good reason or not . As a single person , I still had a mom , and had I died , it would fall upon mom to clean up my stuff . In no particular order the reasons for owning life insurance at that point in time in my life . I just died , I 'm sure that 's a whammy to my mom . I just died without life insurance sorry for the `` double whammy '' mom . My service ? Mom , I 'm sure you can borrow the money to bury me . Or tap your retirement plan or home equity ... My debts ? Well I 'm sure you do n't mind the calls and letters or even that college loan you cosigned for me paying it back after I just died . Time off your work mom ? I 'm sure if I die on a Saturday , you 'll be back at work on Mondaylike nothing happened and certainly your bills are paid well enough in advance that you can take unpaid time off to grieve . My dog , mom . Here 's my dog . take care of him for me will ya ? If I have n't listed enough reasons for a single person to consider the need for life insurance , well I guess I did it for dumb reasons . It could be your mom , dad , brother , sister or a good friend , why buy life insurance as a single person ? Cause you care enough about the people who care enough about you . For me , it was my mom . Now it 's my wife and kids . They actually would hate to lose me , I actually would hate to put a burden on their shoulders when I die , tomorrow or 50 years from now .


Input: How Does Life Insurance Work In The USA?

Output: In the USA , life insurance is taken out on someone because their loss would cause a financial hardship for someone else . The insured person selects a beneficiary to whom the policy payments would go upon his or her death . Some policies also have a savings feature so that they build up cash value which can be used while the insured person is still alive .


Input: How Does Life Insurance Work In The USA?

Output: Life insurance in America is a partnership between the government and the insurance companies , in that tax favored treatment of death benefit proceeds and policy loans of accumulated cash values can potentially be tax free if the policy is kept in force for the life of the insured . These provisions were granted as recognition of the value and impact that life insurance brings to the American Society .


Input: How Does Life Insurance Work In The USA?

Output: Life Insurance companies are formed under state laws . Each law regulates the activities of the insurance companies that are admitted to that state . The company offers to provide a guaranteed amount to a customer whose death falls within a certain period of time . This period of time can be a lifetime . Companies market their product in various ways ; however , the product is sufficiently complex that most people seek the advice and assistance of a state licensed insurance agent .


Input: What Percentage Of People Have Long Term Care Insurance?

Output: I have read statistics saying that under 3 % of Americans have Long Term Care Insurance , all the way to as many as 10 % have it . The 3 % statistic is cited more often and from newer sources . With long term care premiums having gone up recently , and with fewer companies offering it , the % of Americans having coverage could have dropped . I will edit this when I can find updated information .


Input: Is Medigap Better Than Advantage?

Output: Each type has it 's pros and cons . Medigap plans -LRB- commonly known as Medicare supplement plans -RRB- work with Original Medicare -LRB- Parts A & B -RRB- to fill the `` gaps '' that it does n't cover . Original Medicare covers about 80 % of your healthcare expenses . A Medigap plan can cover a portion or all of the other 20 % , depending on which one you get . That 's a BIG pro . You also are n't restricted to networks , you do n't need referrals to see specialists , any doctor that accepts Medicare will accept the Medigap plan , you can apply for a different plan at any point throughout the year -LRB- if you want a different carrier or different benefits -RRB- , and they are guaranteed renewable ! The only con is that it typically costs more than an Advantage plan . Advantage plans can be a lot cheaper , but have more restrictions and limitations than a Medigap plan does . The big attraction with them is the cost factor as the premiums are very cheap and some plans even feature a $ 0 premium - they can also include drug coverage -LRB- you have to buy a stand-alone part D prescription drug plan if you want prescription coverage when you have a Medigap plan -RRB- . Some of the drawbacks are that you can have network restrictions , the plan coverage can change each year , your doctor can choose to no longer accept that specific plan , you 're locked in to that plan for a year and can only change it during the annual enrollment period -LRB- Oct 15-Dec 7 of each year -RRB- or if you qualify for a special enrollment period . Please note , regardless of which type of coverage , you must have both Part A & Part B and continue paying your Part B premiums -LRB- even though Advantage plans work in place of Original Medicare - Medigap plans work with Original Medicare -RRB- .


Input: Is Medigap Better Than Advantage?

Output: Some people think Medigap is better than Advantage plans , but you decide . Medicare + Medigap allows you to use any doctor , anywhere in the United States . Most Advantage plans require you to use their doctors , or else pay a penalty . Medicare + Medigap with most plans -LRB- F , G , N -RRB- means less than $ 500 out of pocket during the year in most situations . Even with Hi F your out of pocket is capped at $ 2110 for 2013 . Advantage means $ 2700 - $ 6700 out of pocket per year .


Input: Is Medigap Better Than Advantage?

Output: Medigap and Med Advantage plans are SIGNIFICANTLY different . For a MedAdvantage Plan , they are basically like an HMO . You have a primary physician who is essentially the gate keeper . You do need referrals and you do have co-pays . A Med Advantage plan does also contain a drug plan component , which the supplements do not . If you have significant health issues , than of course the co-pays can add up , however the monthly premium is usually significantly less than the average Medigap plan . Medigap Plans again , are significantly different . The coverage provided by a Medigap Plan is dependent upon what plan you get . The plans are all identified by a corresponding letter . For example , an F Plan tends to offer the most solid coverage , but of course the price is among the highest as you 'd expect . Each lettered plan is written and designed by the government , so no F Plan is different than another , no G is different than another G , etc etc. . What is different is what each individual insurance company charges for the play . So it 's not uncommon for company A to charge 1 price for an F Plan , and companies B , C , D , & E all have significantly different prices for the exact SAME COVERAGE . One thing that I would do is make sure you understand how each lettered plan works , because the difference in coverage can be quite significant . For example , make sure you understand exactly what a `` Part B Excess Charge '' is . In some states , such as PA , they are illegal , but in my state , which is NJ they are perfectly legal . If you purchase a plan that does n't cover the Part B Excess Charge , you could find yourself pleasantly surprised by a significant bill if you ever have a major procedure done . Medigap Plans DO NOT come with a drug plan , or vision plan or dental . A Drug Plan is the only one you are REQUIRED to get , or you could face a penalty by the government . But again , the drug plan must be purchased on the side , as there is no such thing as a Medigap that comes with a drug plan .


Input: How To Find Good Renters Insurance?

Output: The key to finding a good renters policy is to find a good insurance agent . If you dont have a trusted agent , get referrals from friends colleagues or neighbors . A good agent will listen to you , offer sound financial advice and communicate clearly with you and the insurance company . Selecting the limits of the policy is critical . This is where the agent will earn his commission . If you have a loss and the coverage is inadequate , nothing else matters .


Input: Why Do Life Insurance Companies Do Urine Tests?

Output: Life insurance companies do urine tests to check for diabetes , kidney function , nicotine , and drug use . If protein is present in the urine , it can indicate that diabetes is present or poorly controlled , that kidney disease is present , or that some other health condition is causing protein to spill into the urine .


Input: Why Do Life Insurance Companies Do Urine Tests?

Output: Urine , saliva or blood tests are performed to check for things like HIV , drug use , tobacco , or any other abnormalities that could affect a persons insurability and allow the insurance company to properly rate the risk . Since life insurance rates are based on mortality , anything that affects the persons probable life expectancy needs to be considered .


Input: Why Do Life Insurance Companies Do Urine Tests?

Output: Life insurance is a mortality product priced on your estimated life expectancy . Life insurance companies underwrite mortality based on medical information . One of piece of information they rely on is the results of a urine analysis .


Input: How Does Car Color Affect Insurance?

Output: Honestly these days , it really does n't affect car insurance rates at all . There was a time many years ago when it was believed that a red car was a greater risk to insure than say a blue one . Insurance companies today use much more sophisticated data and formulas in order to determine rate-for-risk .


Input: How Does Car Color Affect Insurance?

Output: Nowadays , car color does not have an affect on the cost of auto insurance . The things that will affect the amount you will spend are age of driver , residence location , driving history , insurance history , type of car , age of car , and cost of car . This is a very generalized list I gave you , and there are many other factors that go into the cost , but these are the most basic ones . I hope this helps you to better understand how the cost of auto insurance is formulated . Thanks for asking !


Input: Is A Life Insurance Policy Considered An Asset?

Output: If you are applying for Medicaid , life insurance is not considered an asset unless it has cash value , and then only the cash value is considered as the asset . In a financial portfolio , likewise , the cash value of a permanent policy is the asset . On the other hand , the life insurance death benefit left to heirs may be considered part of the estate .


Input: Is A Life Insurance Policy Considered An Asset?

Output: This is a question best answered by a CPA if you 're asking in regards to tax purposes . Generally speaking , it 's not a liquid asset . Life insurance is a contract that says that if the insured dies during the life of the policy , the insurer will pay the beneficiary the stated death benefit of the policy . If you have cash value that has built inside the policy , you can borrow against it . Please note , borrowing from your cash value is a loan and is expected to be paid back . You can also elect to cash out the policy by terminating it and taking the cash value -LRB- less any surrender charges , loans , or interest left on the policy -RRB- . Before you terminate coverage to take the cash value , you may want to consult with your agent to make sure it 's the best move for you . There may be other things to consider that you 're not aware of/thinking about -LRB- e.g. protecting your insurability , what can happen if you needed/wanted coverage again , etc. -RRB- . I hope the information is helpful - please feel free to contact me for help and if you have any questions . Thanks very much .


Input: Is A Life Insurance Policy Considered An Asset?

Output: That is an excellent question ! In most financial circles , life insurance would not be counted as a tangible asset . Term life especially has no value unless you pass ; Whole life has no big payout until then either . The cash value in the policy is where the confusion starts . Most States have a limit for the amount of cash that you can have when applying for medical assistance , and if you have a sizable amount scattered between one or more policies , this might be considered an asset by the State . You would need to talk to a Medicaid expert in your area to determine how much , if any the Government will count . Speaking more loosely , yes it is an asset , because it protects your loved ones from hardship when you pass . That is a big plus in my book ! Thanks for asking !


Input: Is A Life Insurance Policy Considered An Asset?

Output: Often times life insurance is considered an assets . Term insurance is not generally referred to as an asset as it covers a temporary need for death benefit protection . Permanent life insurance like whole life insurance or universal life insurance is generally considered an asset as it has a cash value that you have access to any time you want .


Input: When Will Medicare Run Out Of Funds?

Output: Like everything else , it depends on who you believe . Some projections say Medicare will run out of money in 2024 while others say it will happen as soon as 2016 . Here are facts . Every year since 2008 Medicare has spent more money than they have in the `` trust fund '' . They ca n't keep this up forever .