Input: Why Variable Annuities?

Output: In Canada , variable annuities are referred to as segregated funds or seg funds . They are similar to mutual funds , but since they are issued by insurance companies , they offer features and guarantees . Seg Funds are of particular interest to the self - employed -LRB- at any age -RRB- , OR those within 10 to 15 years of retirement or already retired . Seg Funds offer maturity guarantees of 75 % or 100 % . Some plans offer maturity `` resets '' or locking in of investment gains . Death benefit guarantees of 75 % or 100 % . Potential creditor protection is also available . More information is available at www.ProctectandGrow.ca Not for everyone , but worth exploring . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . Note : A description of the key features of the segregated fund policy issued by the insurance company is contained in the information folder . Any amount that is allocated to a segregated fund is invested at the risk of the policy owner and may increase or decrease in value .


Input: What Is Renters Insurance And How Much Does It Cost?

Output: Rentersinsurance covers the personal property of an individual or family that does not own the dwelling that they occupy . Therefore , the contents of the building -LRB- often an apartment building -RRB- will need insurance . Typically , the cost is substantially less than a homeowners insurance policy since the dwelling is not covered . The cost ? Rates are often in the $ 9-20 per month range , depending upon where you live and the coverage you have .


Input: What Is Renters Insurance And How Much Does It Cost?

Output: Renter 's insurance is an insurance coverage policy type that protects you from certain perils when leasing orrentinganother person 's property . You would purchase this coverage to reduce the risk of experiencing a large monetary loss , such as what you would encounter if you have to pay out large sums of money to another party for damages , injuries , or losses . Please call a local agent to discuss coverage availability and pricing within your geographic location .


Input: Will Medicare Pay For A Raised Toilet Seat?

Output: Unfortunately , raised toilet seats are not considered medically necessary by Medicare , and as such , are not covered by Part B under DME . Along with grab bars and other safety features in the bathroom , raised toilet seats are considered a `` personal convenience '' item , therefore do not meet the medically necessary criteria .


Input: What Rate Of Return Are Annuities Paying?

Output: Whenever you are comparing advertised rates of fixed annuities , it is very important to know the details behind the advertised rate . There are a multitude of variables between different companies . Many companies offer `` bonus rates '' for new investors . These bonus rates look very attractive , but are easily misunderstood . Key questions to ask are : Does the advertised rate include a bonus ? If so , what are the details ? How long is the advertised rate locked in once you invest ? Is there a guaranteed minimum interest rate ? If so , what is it ? Is there a bail-out option if the earning rate drops significantly in the future ? What are the terms ? For the right person in the right situation a fixed annuity can be a very good investment . However properly comparing annuities is more involved than comparing simpler products such as CD 's .


Input: What Rate Of Return Are Annuities Paying?

Output: The rate of return that annuities pay vary depending on the type of annuity - whether it 's a guaranteed or variable annuity ; how much it is funded with and the company that issues the annuity . In every case the interest will be many times what any savings account or CD is paying these days ! Typically from what I 'm familiar with , guaranteed annuities are paying between 1.2 % to 2.5 % .


Input: What Rate Of Return Are Annuities Paying?

Output: The rate of return of annuities really depends on what type of annuity you are talking about . Fixed Annuities have a set base rate similar to a CD , they pay a guaranteed rates of interest . If you are looking for a fixed annuity make sure you shop around some companies like Fidelity & Guaranty Life and Guaranty Income Life are raising their base rates . When you are looking at Index Annuities the insurance company gives you a guaranteed minimum interest rate and also a crediting strategy like the S&P 500 or something like that . Think of it this way there are two buckets of money , the first has your money with the guaranteed interest rate , the second has your money linked to the crediting strategy of the market . If the market goes up they will credit that bucket with interest -LRB- every company has different participation rates and caps -RRB- . If the market is down then that bucket will earn no interest . When ever you want to start drawing an income , the insurance company will see which bucket has the most money and that bucket will be used for income . If you work with a good broker , they have software that will show you what your investment will look like with all of the companies . Please let me know if I can help in any way .


Input: Who Regulates Fixed Annuities?

Output: Fixed interest rate tax deferred annuities are under the jurisdiction of the department of insurance in the state of residence -LRB- generally -RRB- of the policy owner as is indexed annuities as well . These types of tax deferred annuities are not deemed to be securities , so there is no additional oversight .


Input: Who Regulates Fixed Annuities?

Output: Like all insurance products , Fixed Annuities are regulated by the State Insurance Department of the state the Annuity was sold in . This includes , Fixed Annuities , Indexed Annuities , & Immediate Annuities/Lifetime Annuities . Variable Annuities are regulated by both the State Insurance Department , as well as FINRA . Depending on the advisor who sold the Variable Annuity , the SEC might have jurisdiction instead of FINRA .


Input: Who Regulates Fixed Annuities?

Output: Life insurance annuities are regulated by the state you live in . The state insurance commission handles any and all rules regulating the insurance agents and the general public . Most states have legal matters already in place for the general public and insurance companies to abide by . You can go look up most state regulatory laws ministered by State .


Input: Who Regulates Fixed Annuities?

Output: Who regulates fixed annuities ? Usually in every state an annuity is sold the regulation is provided at the state level through the office of the insurance commissioner . Depending on the laws in each given state , an annuity may or may not be sold in that state . You may find an annuity for purchase in one state but not another because the states differ in their laws about them .


Input: How To Get Renters Insurance Quotes?

Output: To quote renters insurance an agent or broker needs several pieces of data from you . Contact an agency or brokerage andask themwhat specific information is needed for them to provide a quote . They should be able tofax or email you a questionnaire or one may be available at their website . Once you get them the data they need , they can start on a quote . Remember , if you buy online direct from an insurance carrier you are acting as your own broker . If you know enough about insurance , go for it . But be advised that dealing with a competent agent or broker will get you the best policy available for your specific situation and needs .


Input: How To Get Renters Insurance Quotes?

Output: If you have an existing agent , contact that person . They will guide you through the process . If you do not , ask other people who are established in the community for recommendations . When you select an agent , make sure that they report everything to you and the company accurately . The company relies upon accurate information to price the policy and can use that same information to adjust a claim .


Input: When Can I Enroll In A Medicare Advantage Plan?

Output: Most people will enroll in a Medicare Advantage plan when they first turn 65 and enroll in Medicare Part B if they decide they do not want original Medicare . If you are under 65 and on SSDI and Medicare A and B you can enroll in an Advantage plan . You can also enroll during annual enrollment .


Input: What Happens To Health Insurance When You Switch Jobs?

Output: If you 're under a group health plan and you switch jobs , you lose the existing health insurance coverage -LRB- typically immediately or at the end of the month , varies by carrier and plan -RRB- unless you go on COBRA . Under COBRA , you 're continuing your existing health benefits , but you 're paying the entire premium plus 2 % -LRB- the employer typically shares the cost of premiums with their employees in group coverage plans - e.g. the employer pays 50 % and you pay the other 50 % -RRB- . If you do n't want to go on COBRA when your group coverage terminates , you would have a special enrollment period allowing you to secure coverage under an individual health plan - you would n't need to wait until the annual enrollment period opens up . If you had an individual health plan to start , you do n't have to do anything - your coverage will continue as normal because it 's not an employer-based health plan . I hope that helps answer your question . Please let me know if I can be of further assistance . Thanks very much .


Input: Is Assisted Living Covered By Long Term Care Insurance?

Output: It depends on your policy but most newer plans do . You need to check your policy to be sure . Long Term Care policies will generally cover any type of long term care including assisted living and home health care in addition to nursing home . Some will even pay a family caregiver .


Input: What Does PLPD Car Insurance Cover?

Output: PLPD stands for Public Liability and Property Damage . This means that if you are in an accident and injure someone else the company will pay up to the limits of the coverage to those individuals that are injured . If you strike another car and damage the car , the Property Damage portion will pay to the owner of the other car , or house , or whatever else you might hit , to the limits of the policy for the loss incurred . If possible carry the highest limits for this coverage that you can afford .


Input: How Much Does Health Insurance Cost For A Family In Georgia?

Output: Health Insurance rates in Georgia are going up . Each family 's cost is going to be different . Your best resource is a local broker that represents multiple companies including major medical companies . The rates in Georgia are different in the Atlanta metro area versus other parts of Georgia . You will need to look at the networks in your area and determine if your doctors are in the network being offered by the insurance company . Health Reform has brought challenges to the price of family coverage . There are new options in the Georgia market to help handle the rising premiums . You might consider clinic programs , tele-medicine , high deductible plans , or many other solutions that lower costs and improve Out of Pocket expenses . The Health Insurance world is changing and you will need help . Do a web search for your area and health insurance and do a review of your current situation to determine if you can do better .


Input: How Much Does Health Insurance Cost For A Family In Georgia?

Output: Shopping for health insurance rates in any city is pretty much the same . You can look for a health insurance agent in the yellow pages or look them up on the Internet . Your premiums are going to be based on your age , health history , smoking status , gender , other family members to be covered and also how much you will accept for deductibles and co-pays .


Input: What Is The Best And Cheapest Life Insurance?

Output: The cheapest life insurance is usually annually renewable term , followed by 10 year term . Annually renewable term goes up in price every year , and 10 year term goes up in price every 10 years . Some companies carry 5 year term , but there are so few choices that 10 year term rates often beat the rates of 5 year term . Whether that type of short term policy is best for you depends on your need for the life insurance . E.g. . If you are purchasing it to pay for your funeral , you run the very real risk of being unable to afford the policy by the time you die . In that case , buying permanent insurance is usually a better choice , even if it starts out costing more . However , if you only need your policy for a few years , getting a short term policy is most likely your best and cheapest choice .


Input: What Is The Best And Cheapest Life Insurance?

Output: What is the best and cheapest life insurance to buy ? Well , the best would be the life insurance that is in force when you die . The fact that it is in force makes it the best , because it does n't matter what company if you 're policy is not in force when you die . As for the cheapest ? Cheapest for how long ? One day ? one year ? a lifetime ? The best price is really determined by the length of your need . One day ? term . One year ? term . A lifetime ? Whole life . Term is the cheapest for the shortest amount of time and whole life is the cheapest for the longest period of time .


Input: Will Car Insurance Go Up After Speeding Ticket?

Output: That depends upon the terms and conditions of your insurance contract and your insurance company 's standards as filed in your state . Many companies would take action to raise your rate after a speeding ticket . On the other hand some offer various violation and/or accident forgiveness benefits . For that reason it is a good idea to talk about this with your Insurance Professional .


Input: Will Car Insurance Go Up After Speeding Ticket?

Output: Regardless of company underwriting policies , if a driver gets a speeding ticket and that results in two points on his record his premium will increase by a minimum of 20 % in California because he would lose the good driver discount . With two points most companies would increase his premium rather substantially . The two points though can be really expensive .


Input: What Is Auto Collision Insurance?

Output: Collision coverage is an optional coverage of your auto insurance policy that would pay for damages of your vehicle should the vehicle be involved in a collision or upset . Collision will pay up to the actual cash value of the vehicle at the time of loss . If you have a loan the lender will require this coverage . However if your car is paid for collision coverage is your choice .


Input: Can Illegal Immigrants Purchase Health Insurance?

Output: In order to purchase health insurance through the Healthcare Marketplace To be eligible for health coverage through the Marketplace , you : must live in the United States must be a U.S. citizen or national -LRB- or be WEBSITELINK -RRB- ca n't be currently incarcerated So unfortunately you may not . If for some reason you are able -LRB- allowed -RRB- to purchase through an online application in which it either does not ask the questions or if you actually falsify your information , when there is a claim the insurance company will validate the policy and ultimately cancel the policy and no claims will be paid .


Input: What Are Life Insurance Dividends?

Output: What are life insurance dividends ? Dividends are a part of working with a mutual life company and by IRS code are considered a return of overpaid premium to the policy holder and are not taxed as income . The dividends are made up of savings from operations overhead , a surplus left from death benefit reserves and the company investment portfolio returns . Dividends are not guaranteed as all three of these main components can be projected , but not `` known '' in advance .


Input: Can I Add Another Car To My Insurance?

Output: Absolutely ! Many insurance companies provide automatic coverage on a newly acquired car , requiring that you contact them as soon as possible with all the details such as vehicle identification number and lienholder info if the car is financed/leased . But you should first verify that policy with your insurer . And you will want to talk about exactly what kind of coverage you want for the new car .


Input: Can I Add Another Car To My Insurance?

Output: Most insurance companies welcome additional vehicles . Most insurance companies offer a discount if there are more than two vehicles in the account . The coverage under the existing policy will extend , in most cases , to a newly purchased car for up to 30 days .


Input: Can I Add Another Car To My Insurance?

Output: That is a great question ! The answer is yes - there is not an insurer alive that would not be happy to add an additional policy or vehicle to their book of business . It may even be that by adding an additional vehicle to your policy that you become eligible for discounts in your policy , as that is a common thing . I hope it is for you - thanks for asking !


Input: Can I Add Another Car To My Insurance?

Output: The short answer is YES . But let me offer a more detailed response . Adding a vehicle is new exposure to an insurer . So , the addition of a certain vehicle type may not be possible with an insurer . For example you are adding a Ferrari and the company does not routinely accept that vehicle ... there are going to be ramifications . The same is true of adding a car and adding a new live in partner . That may or may not be acceptable with your current insurance carrier and may depend on a number of responsibility issues the carrier wants to review . When making changes to your policy always call your agent he or she can offer you specific and expert advice . If you get some one different onthe phone every time you call your agent , then perhaps you should shop for a new agent . If you are in TX , AZ , CA or GA we would be glad to assist you at the Insurance Browser Inc , , so visit our website at www.insurancebrowser.com


Input: Can I Add Another Car To My Insurance?

Output: You can add another car to your insurance policy if you own that vehicle . Typically , if you do not own a car or truck , you can not add it to your policy . By calling your agent , they can take the VIN number and details of that vehicle , so you can be covered as quickly as possible .


Input: How Often Will Medicare Pay For Blood Work?

Output: Medicare will pay for blood work that is medically necessary to diagnose or monitor disease . If this is done on an inpatient basis , Part A covers it . If done on an outpatient basis , Part B covers it . Advantage plans have their own rules but must offer at least what Part A and Part B cover . Preventative blood tests are not covered by Medicare .


Input: Does Health Insurance Cover Funeral Expenses?

Output: Most health insurance policies do not have any death benefit . Occassionally a group benefit plan will have life insurance as one component . Individually purchased health plans do not normally provide a death benefit . Life insurance is the product that will provide funds to assist with final expenses and burial expenses .


Input: Does Health Insurance Cover Funeral Expenses?

Output: That is a great question ! Unfortunately , I do not have a very good answer for you . Insurance types are very specific in what they cover . Life insurance policies will not cover a trip to the dentist , and your vision policy wo n't cover your maternity costs . Unfortunately , your health insurance is n't going to do what a life insurance policy would have - cover those expenses . I 'm sorry , but I do appreciate you asking . If you need help , please inbox me , ok ?


Input: How Important Is It To Have Renters Insurance?

Output: I feel it is extremely important as it is typically one of the lowest cost insurance coverages available for the benefit that it provides . If there was a fire in the premise that you are renting could you afford to pay a months rent to secure a new premise at a moments notice ? Could you afford to replace all of your personal belonging in the event of a fire at the premise that you are renting ? These questions are just a couple of examples of the protection that renters insurance may provide .


Input: Does Obamacare Take Money From Medicare?

Output: I think this question depends on who you ask , as this is a politically charged question . As far as I can tell , $ 716 billion was cut from the Medicare Advantage Program . TheObama administration claims the was nota cut , because they were going to reduce payments for hospital services , skilled nursing services , hospice and other Medicare services . Of course , that was met with a lot ofnegative feedback on both sides of the aisle soit 's unclearif those cuts are actually going to take place . But if the cuts do n't take place , how would the $ 716 billion bepaidback into the Medicare fund?To some extent , the jury is still out on this one .


Input: What's A 457 Retirement Plan?

Output: Section 457 plans are nonqualified deferred compensation plans available only to state and local government employers , and nongovernment organizations exempt from tax under IRC Section 501 . Generally 457 plans are utilized for two reasons - 1 . As deferred compensation plans that allow participants to reduce their taxable salary in a manner similar to that of 401 -LRB- k -RRB- plans . 401 -LRB- k -RRB- plans generally are not available to state and local government organizations . 2 . As supplemental benefit plans that provide executives with supplemental retirement income .


Input: What Is Best Age To Buy Long Term Care Insurance?

Output: The best age to purchase long term care is when youre young and healthy because the premium does n't get any cheaper the older you get . Most retirement advisers start addressing long term care insurance at age 50 , but most start purchasing long term care in the early 60s . Another senior factoid is your family history , where predispositions to disease or a culture of confinement occurred in you lineage , you may need long term care .


Input: Why Does My Auto Insurance Keep Going Up?

Output: There are several reasons auto insurance goes up ... Unfortunately some of those reasons may have absolutely nothing to do with you . Remember , all insurance is is a big pool of money . Policy holders are grouped together and pay premiums into the pool . When a claim happens , money is pulled out of the pool . If too much money is pulled out , then more money has to be put in so premiums go up ... I know this is a very simplistic explanation and the realty is much more complex , but it is a fact that if a bunch of other people in your `` pool '' -LRB- your state or region -RRB- experience a lot of acidents or other losses - the rates for everyone in that `` pool '' are going up no matter if you have had an accicent , ticket or anything else . Of course , there are individual reasons why you premiums coud be going up based on your driving record , personal characteristics , etc. . Give your agent a call and they should be able to break your premium down and explain what part of an increase pertains to you specifically and what part is a rate increase by the carrier .


Input: Why Does My Auto Insurance Keep Going Up?

Output: Premiums charged by an insurance company reflect both risk and experience . In other words , your premium may increase because the experience in general with your particular car model may be less than favorable with regard to loss claim settlement and repair costs . Likewise , your driving history and experience may also influence what you are paying . Look to maximize all the available discounts in order to manage your insurance costs .


Input: Does Life Insurance Proceeds Get Taxed?

Output: Generally life insurance proceeds are paid to the policy beneficiaries tax free . There are exceptions to this general statement . The policy proceeds could be includable in the policy owners estate and the estate is greater than the undefined credit or state exemptions . The policy proceeds could be taxed in some business scenarios as well .


Input: Does Life Insurance Proceeds Get Taxed?

Output: Most life insurance proceeds are received free of any income tax . There are situations where the beneficiary may be responsible for paying income tax on the proceeds . Death benefits paid on a viaticized life insurance policy comes to mind . In some cases death benefits will be included in the estate of the insured and subject to estate taxes .


Input: Does Life Insurance Proceeds Get Taxed?

Output: Life insurance proceeds , the death benefit , are generally received income tax free by the beneficiary in most cases . This is a key feature of life insurance . Common exceptions include business-owned life insurance issued , or materially modified , after August 17 , 2006 which may be taxable unless specific steps are taken during time of application and annually thereafter to meet conditions which allow the proceeds to be income tax-free . Another exception is a tax trap where life insurance contracts with three parties involved may also have unexpected taxable implications .


Input: Does Auto Insurance Cover Break Ins?

Output: Auto insurance does cover break ins to vehicles that you have insured under your policy . They are considered comprehensive claims and typically have a lower deductible than the collision portion of your policy . Sometimes , the comprehensive deductible is 0 , which means you would likely have no out of pocket expense . If glass is broken along with damage to the vehicle , it is also covered .


Input: Does Auto Insurance Cover Break Ins?

Output: When your car is damaged it is covered if you have physical damage coverages . Comprehensive covers claims that come from damage other than collision . The car will be repaired minus the deductible . The contents stolen from the car , however , are not covered by the auto policy . For the items in the car to be covered they must be covered by a homeowners or renters policy .


Input: Does Auto Insurance Cover Break Ins?

Output: Break ins are covered under comprehensive coverage -LRB- aka `` other than collision '' -RRB- . As long as you have comprehensive coverage , break ins are covered . Of course , you will have to pay out of pocket for your deductible . But some companies offer very low deductibles -LRB- some as low as zero -RRB- . Some companies also offer a zero deductible for glass breakage .


Input: Does Auto Insurance Cover Break Ins?

Output: Like Edward has already answered , car break-ins are covered if you have the vehicle insured with Comprehensive -LRB- also called `` Other Than Collision '' coverage . Keep in mind thought , if anything is stolen - typically only those things permanently attached to the vehicle are covered under the auto policy . If a purse , laptop or other personal property not attached to the vehicle is stolen - most carriers cover these things under a homeowners or rental policy and are subject to that policies deductible and limits . So if your care gets broken into , you could be facing two claims and two deductibles unfortunately . Check with your local independent agent to verify your policy 's specific language .


Input: What Is A Reduced Paid Up Life Insurance Policy?

Output: Reduced Paid Up policies result from exercising one of the standard nonforfeiture options in cash value policies . When a policy owner wants to stop paying required premiums , it is one of the alternatives to surrendering the coverage for its cash value . In this case , the death benefit is reduced from the amount of the original policy to a level that can be purchased by the available cash value . The paid-up policy is the same type of insurance as the basic policy from which the cash value is being used . Cash values will grow in the paid-up policy .


Input: What Is A Reduced Paid Up Life Insurance Policy?

Output: A paid up life insurance policy is a permanent policy for which no further premiums are owed , but the life insurance will still stay in effect . A reduced paid up policy is the same thing , but for a reduced face amount . This option is sometimes used when people no longer want to pay the premiums noted in the life insurance contract , but do not want to surrender the policy and lose all their coverage .


Input: What Is A Reduced Paid Up Life Insurance Policy?

Output: The key issue with reduced paid-up life insurance is that there would be no further premiums required . The cash value would increase and the death benefit would remain level . The reason that the company has the ability to provide this benefit is because the cash value is already high enough in the policy to sustain this reduced amount until death occurs , regardless of when that might occur .


Input: Will Medicare Cover Orthotics?

Output: Medicare Part B will cover orthotic shoes only if they are part of a medically approvedleg brace . Medicare will also cover soft insole inserts for some patients with diabetes , but not orthotics for those with diabetes . Purchasing orthotic shoes without a leg brace and purchasing orthotic shoe inserts are not covered by Medicare .


Input: What Is A Variable Universal Life Insurance Policy?

Output: A variable universal life insurance policy is a form of permanent insurance . That means that the policy is designed to last the lifetime of the insured . Unlike traditional whole life , the cash value of the policy is not invested in the general fund of the insurance company . Unlike a universal life policy the cash value is not invested in a separate fund . Instead the cash value is invested at your direction into a series of funds that are a part of the companys investment options .


Input: What Is A Variable Universal Life Insurance Policy?

Output: A variable universal life insurance policy is a permanent life insurance policy designed to grow cash value similar to the growth of mutual funds . You will see the growth and the loss in these type of policies . Please talk to a Registered Representative who is able to design these type of policies to get an illustration for your review .


Input: What Is A Variable Universal Life Insurance Policy?

Output: A variable universal life insurance policy is a policy that provides protection after death via a death benefit -LRB- the universal life part -RRB- , and cash generation while alive via investments in separate accounts -LRB- the variable part -RRB- . There may be a guaranteed death benefit , but the cash value in a VUL is not guaranteed , and you could take a loss with this type of policy , just as you can in the stock market .


Input: How To Purchase Medicare Part A?

Output: If you are eligible for free Medicare Part A and start receiving Social Security benefits at age 65 , you will be automatically enrolled in Medicare Part A. To purchase Medicare Part A , you can go to go to your local Social Security Office , or call 1-800-772-1213 . There they will tell you your Part A premium and how to proceed .


Input: Who Is Assignee In Life Insurance?

Output: The Assignee in Life Insurance is the person , organization , business , or other entity to whom the policy proceeds are assigned . E.g. . The assignee may be a lender who will receive the death benefit upon the death of the person owing the debt . However , the assignee only receives the remaining debt that is owed to them ; the excess of the life insurance proceeds go to the beneficiary listed on the policy .


Input: Who Is Assignee In Life Insurance?

Output: Assuming the question is an inquiry into the rights to assign a policy , the policy owner has such rights . Those rights extend to changing primary and/or contingent beneficiaries as well as assigning or endorsing the policy 's face amount and/or cash values . The power of policy assignment is in the purview of the policy owner .


Input: Who Is Assignee In Life Insurance?

Output: Most life insurance policies do not have an assignee . A policy is assigned as a requirement of either a lender or someone else to which an obligation is due . When death occurs the insurance company contacts the assignee and satisfies the assignees claims prior to distributing the balance to the beneficiary . If you have a $ 500,000 , and borrow $ 50,000 , if required the owner of the policy can assign it to the lender . In the event of death the company will satisfy the creditor -LRB- $ 50,000 or less -RRB- and pay the balance to the beneficiary .


Input: Does A Will Supercede A Life Insurance Beneficiary?

Output: No , a last will and testament does not override the beneficiary designation on a life insurance policy . Your testamentary will is used for directing assets of your estate that do not have joint ownership -LRB- such as real estate , or a bank account -RRB- . Your life insurance or annuity policy that has a legally designated beneficiary can not be overridden or voided by your last will and testament .


Input: Does A Will Supercede A Life Insurance Beneficiary?

Output: Does a will supercede a life insurance beneficiary ? No as they are two `` separate '' legal documents that both carry out as instructed by the insured upon death . Unless the insurance policy 's beneficiary designation refers to the will or estate , the insurance policy will act independently of the will and probate .


Input: Does A Will Supercede A Life Insurance Beneficiary?

Output: There may be specific state exceptions , but in general terms the beneficiaries of a life insurance policy named by the policy owner receive the death benefit proceeds.Sometimes it is difficult for a person with the power of attorney to act on behalf of the policy owner to effect a change in beneficiaries .


Input: Does A Will Supercede A Life Insurance Beneficiary?

Output: To expand a bit ... Life insurance proceeds are among a class of assets that `` pass by contract '' at death ; in this case , the contract is the insurance policy with its beneficiary designation . -LRB- Other assets that pass by contract include IRAs / Qualified Retirement Plans , annuities , jointly-owned bank or investment accounts , etc. -RRB- Assets that do n't pass to a beneficiary by operation of a contract are subject to probate , which is where a will comes in . It is possible to have the proceeds of a life insurance policy be distributed according to the terms of a will by naming the insured 's estate as the policy beneficiary -LRB- e.g. Beneficiary : Estate of the Insured -RRB- . However , doing so is generally avoided because of the disadvantages inherent in the probate process : During probate , a will is subject to being challenged by anyone with standing -LRB- generally , anyone who can prove a relationship to the deceased -RRB- . A beneficiary designation is n't subject to those types of challenges . Assets of the probate estate are subject to the claims of creditors of the estate ; life insurance proceeds paid to the insured 's estate may get depleted to repay debts before the intended heirs receive any benefit . The probate process is a public court proceeding , andcan be lengthy . A life insurance death benefit claim involves only the beneficiary and the insurance company , and claims are generally paid very quickly - often within two weeks .


Input: Does A Will Supercede A Life Insurance Beneficiary?

Output: In almost no cases does a will supercede the contractual designation of the beneficiary of a life insurance policy . However , you often hear about people updating their wills , while it is not so common to think about updating their life insurance policies . Do n't accidentally leave your policy to an ex-husband rather than a current one , to your parents rather than your own children , etc , by forgetting to change the beneficiaries on your life insurance policy . Your will can not undo the mess that would be created by leaving a big part of your estate to the wrong person .


Input: Does A Will Supercede A Life Insurance Beneficiary?

Output: No , it doesnt . Any knowledgeable life insurance salesperson will tell you this . But if you want an answer you can bank on legally , you need to ask an estate attorney . Also bear in mind this : if the beneficiary is deceased , things can get very sticky . If you still want the life insurance benefit to go to a specific person , as opposed to ending up in your estate , then you need to take a few extra measures to accomplish this . Naming a contingent beneficiary is one way . And if the beneficiaries are minors , you need to make provisions that your executor and custodian will take care of them . Spell this all out so you can still retain control over how the benefit is past . Get a good attorney with specialized knowledge in this area to help you .


Input: Can I Cancel My Health Insurance Without A Qualifying Event?

Output: As long as it is not a group plan or a Medicare Advantage plan you can . An individual health plan or Medicare Supplement can be cancelled at any time . A group plan may require a qualifying event in order to make changes . A Medicare Advantage plan can only be changed during the annual Open Enrollment unless there i a qualifying event .


Input: Can I Put My Mom On My Health Insurance?

Output: Typically no . The only people you can put on your health insurance plan are your spouse and children -LRB- and kids you have legal guardianship over -RRB- . I hope the information is helpful - please feel free to contact me for help or if you have any other questions . Thanks very much .


Input: What Is A Pension Plan Sponsor?

Output: As an example , under ERISA -LRB- Employees Retirement Income Security Account -RRB- of 1974 , employers can sponsored defined benefit and/or contributions . They usually outsource the money management to a third parties . Some employer sponsors also match some portion of the employee 's annual contribution . They 're also responsible for the compliance under qualified plan regulations .


Input: Does Life Insurance Consider A Person's BMI?

Output: Yes , life insurance does usually consider a person 's BMI , or Body Mass Index , when assigning a rating to the policy . A weight to height ratio that indicates that the applicant is overweight , obese , or morbidly obese will hike the rate up a little or could cause a decline . There are some policies that do not consider BMI . Contact a specialist in life insurance for persons who are of larger builds to find your best quote .


Input: Does Life Insurance Consider A Person's BMI?

Output: Life insurance is a mortality product . Many medical factors contribute to the underwriting offer , one of those considerations is the Body Mass Index . Height and weight contribute to the credits or debits assigned to this area of underwriting . Additional concerns regarding weight are associated diseases like obesity in combination with diabetes .


Input: How To Select The Best Medigap Policy?

Output: The `` best '' Medigap policy is plan F because it covers all benefits at 100 % from day 1 . Plan G is competitive with plan F because it covers everything just like plan F except for the Medicare Part B deductible -LRB- $ 147 in 2014 -RRB- . The predictability in healthcare expenses these 2 plans have created for people have made these the 2 most desireable plans to have . In general , you would start by looking at the benefits you want to have covered . If you want to just write a check for a premium and not have to worry about big hospitals when you need procedures and surgeries done , you should consider plan F or plan G . If you 're willing to share more of the risk of expenses to lower your premium , you may want to consider a plan N or plan Hi-F . Refer to the Medigap guidebook -LRB- available on the Medicare.gov website - you can also email me for a copy and I 'll forward it to you -RRB- . Once you 've determined which of the 11 available Medigap plans you want to purchase , the next factor to look at is price . Every Medigap plan gets paid in the exact same way , regardless of the insurance company you have the insurance through . For example , if company A is charging $ 125 per month for a plan F and company B is charging $ 150 per month for a plan F , you would want to buy the plan F from company A because they 're saving you $ 25 per month and the benefits are the exact same either way . Please remember , if you 're applying outside of your initial open enrollment period when you 're new to Medicare , you may be subject to medical underwriting and have to answer the health questions . This is where an independent Medigap insurance broker really comes in handy as they can shop the case for you among many companies instead of just 1 or 2 to make sure you get the desired Medigap plan at the lowest possible cost . I hope the information is helpful - please feel free to contact me for assistance with your Medigap plan -LRB- I 'm an independent Medigap broker -RRB- and if you have any other questions . Thanks very much .


Input: How To Select The Best Medigap Policy?

Output: Working with an independent insurance agent and one who specializes in Medicare Supplements is a great way to help you find the Medigap policy that meets your needs . Why ? Independent agents are not employees of the insurance company . We work for you and do not charge a fee for our service . We are always looking for companies that will benefit our clients . We know that one size does not fit all . Every individual is unique with their health qualifications , how much premium they can afford , andwhat benefits they desire . You benefit because an independent agent can shop the Medicare Supplement insurance market and show you what is available in your area . If you like to do everything on your own , keep in mind that most insurance companies do not make their premiums available to the public and will only work with a licensed insurance agent . While contacting the insurance company directly may seem more convenient , you are often times paying a higher premium . I 've worked with many Seniors who initially bought a Medigap Plan directly with the insurance company . After realizing their Plan F , G , or N was the same exact Plan F , G , or N with another insurance company , they were happy to let me shop the market and find them a lower premium . Thank you for reading my reply . Please let me know if I can be of further assistance . 1-888-411-1329 .


Input: How To Select The Best Medigap Policy?

Output: The `` best '' Medigap Policy will be different for different people depending on your needs . The quickest way to determine the best policy for you would be to work with an independent Medigap Policy agent . A good agent will be able to show you whats available and help you match the best policy for your needs . They will save you hours of research and a lot of money . Things to consider when deciding on a Medigap Policy include : 1 . Benefits of the plan . 2 . What copays , deductibles and coinsurance are you comfortable with ? 3 . Do you want flexibility with your network of doctors you see ? 4 . Monthly premium . 5 . Quality of the insurance carrier . I would be happy to answer any other questions you have .


Input: How Does Car Insurance Go Down?

Output: Car insurance rates can reduce in many ways . Perhaps the easiest and simplest idea is to allow an experienced broker to shop around you . That 's what we do best ! There are no fees , costs or obligations and our top-notch websites help you compare lower prices . Of course , having a good driving record , along with solid credit will also help you bring down your car insurance rates . Youthful drivers are expensive but a `` good-student '' discount will make a big difference .


Input: Can You Get Life Insurance On An Unborn Child?

Output: Unborn children are not eligible for life insurance in the traditional way . Life insurance requires basic requirements life a birth date.There may be specialty insurance that covers a variety of unconventional scenarios like Lloyd 's of London . Not that Lloyd 's would but it 's conceivable that some carrier might accept the risk .


Input: Can You Get Life Insurance On An Unborn Child?

Output: No , you can not get a life insurance policy on an unborn child ; babies must usually be 15 days old in order to get their own life insurance policy . If you have a child rider on your own life insurance policy , your baby can automatically be added to the rider .


Input: How To Cancel My Kaiser Health Insurance?

Output: Great Question . While you can cancel most insurance plan at anytime Kaiser is no exception . Call Kaiser or your local agent that sold you the health insurance plan and cancel it . Make sure you have a replacement plan in case you get sick or need to see the doctor later .


Input: What Is Disability Buyout Insurance?

Output: Although there are thousands of sole proprietors in the U.S. , there are many businesses that have one or more partners . Creating a business buy out succession plan includes indemnifying the partners against the death or disability of one or more partners to protect the future of any business . The partners perform a business evaluation and assign the ownership share to each partner . If a disability occurs with one party or more the buyout provisions of the agreement are initiated .


Input: Where Should I Get Term Life Insurance?

Output: The term life insurance market is extremely competitive . Independent life insurance agents with brokerage access should be able to spreadsheet the top companies ranked by premium in each specific health category . Keep in mind that if you under age 50 , you can secure up to 30 years of coverage . A 25 year old male nonsmoker seeking ten year term life coverage for $ 100,000 , the premium is less than $ 100 a year .


Input: When Does Health Insurance Start?

Output: Depends on the `` company underwriting '' procedures . Some companies will allow their agents to accept -LRB- usually 60 days -RRB- upfront premium payments and give you a `` conditional receipt '' and you are covered unless the company rejects the application for underwriting reasons . Some companies want to underwrite everything before the policy is issued and you have to give them the right to draft your credit card or checking account on a given date each month . If you are applying for `` medicare policy '' it will be effective the following month after your application is received


Input: Do I Need Auto Insurance When I Buy A Car?

Output: In most states it is illegal to operate a motor vehicle without insurance so yes you would need auto insurance . Also if you are buying a car on payments most dealers will verify you have insurance in place before they let you off the lot . Make sure you call your local agent for quotes on your new car .


Input: Do I Need Auto Insurance When I Buy A Car?

Output: This answer varies with the state in which you reside . Generally the dealer will give you the car if you have paid the full price . Some agencies are set up to handle every aspect of the registration process and that is where you encounter the requirement for auto insurance . However , once the car is sold and paid for it would probably not require insurance to leave the lot .


Input: Do I Need Auto Insurance When I Buy A Car?

Output: That is a great question ! In almost every case , it is a requirement for you to have insurance on the vehicle that you drive . When purchasing a new car , generally a quick phone call to your agent with the vehicle information will be enough o get a temporary , or even a permanent policy issued that will allow you to drive the vehicle off the lot . I 've personally been in dealerships where there are insurance agents on the lot that were happy to sell you a -LRB- expensive -RRB- policy . Thanks for asking !


Input: Is Medicare Only For The Elderly?

Output: Medicare was originally only for those age 65 and older , but the act was amended to add coverage for those on Social Security disability . If you meet the Social Security definition of disability and have been collecting SSDI checks for 2 years you are eligible for coverage under the Medicare system .


Input: What Is Adjustable Life Insurance?

Output: It depends on the insurer as to what Adjustable Life is . There were a couple of midwestern companies who had products with that moniker which were fixed premium adjustable life insurance products . Universal Life one of the dominant forms of permanent life insurance -LRB- cash value life insurance -RRB- . It is also known as Flexible Premium Adjustable Life which is the official name of the product . So , it may be that you are asking about Universal Life . The key words are `` flexible '' and `` adjustable '' . Premiums are flexible because they can be adjusted upward or downward , subject to an initial minimum premium . You can also skip premiums in future years . You also have a choice of level or increasing death benefit which describes the adjustable nature of the product . Universal life builds cash value that can grow based on a stated fixed interest rate , which may vary over time , but which will never be less than a guaranteed minimum interest rate . Policy costs for administrative expenses and cost of insurance are deducted from the cash value monthly . Where whole life is a `` black box '' product , universal life is `` unbundled '' and transparent in how it operates internally . Universal life is best suited to satisfy the longer-term needs of policy-owners who want premium flexibility and cash value accumulations that reflect current fixed interest rate returns , with a guaranteed minimum interest rate . There are variations on the basic structure such as guaranteed UL or the popular index UL but , aside from how secondary guarantees are calculated or interest is credited , the basic mechanics are the same .


Input: What Is Adjustable Life Insurance?

Output: I ca n't say I have heard of Adjustable Life Insurance however I think you might be referring to Flexible Premium Life Insurance . All this means is that within your life insurance contract , a permanent plan , you can `` adjust '' the premium , increase/lower the death benefit and may be able to remove some riders as needed . A `` Fixed '' plan means you are locked in , generally speaking . I would have to see what you are referencing in order to confirm or change my answer .


Input: Since my employer offers insurance do i have to use theirs or could i be on my wife's insurance?

Output: If your employer pays 100 % of the employee cost of their group health insurance plan -LRB- very rare these days -RRB- then you will be enrolled in your employer 's health plan . That does n't mean you have to use it or that you could n't be covered as a dependent on your spouse 's health plan . If an employee contribution is required under your employer 's plan -LRB- extremely common these days -RRB- then you are free to `` waive participation '' -LRB- i.e. - elect not to be covered -RRB- in your employer 's plan and can be covered under your spouse 's plan . Generally , unless there is a significant benefit difference involved between the two plans , -LRB- and I 'm assuming it 's just you and your spouse and there are no children involved -RRB- it would probably be less expensive for each of you to be covered as Employee Only under your respective employer 's health plans . Another important note is that one of the quirks of the Affordable Care Act -LRB- ObamaCare -RRB- is that spouses were n't defined as dependents -LRB- no reason has ever been given for this -RRB- . This has led a few employers to not offer coverage to spouses at all , but this is still very rare . What is becoming increasingly common though is an employer policy that penalizes spouses who elect to be covered under their spouse 's employer 's plan when that spouse has health insurance available at their place of employment . Usually a higher monthly premium payment is assessed for such a spouse as opposed to a spouse who does not have other health insurance available . You 'll want to make sure your spouse 's employer does n't have such a personnel policy in place before you opt to be covered under your spouse 's health plan .


Input: Since my employer offers insurance do i have to use theirs or could i be on my wife's insurance?

Output: The answer is going to depend . If your employer still picks up 100 % of the cost , that would be considered your primary insurance and your spouses coverage would be used to fill in the gaps . If your employer pays 100 % , buying secondary coverage would actually prove to be very expensive insurance as basically it 's picking up your out of pocket costs . Still you might be able to waive coverage , check and see with your companies HR person to see if that is possible . Basically this is a math question , get out a note pad and calculator and start costing things out . If you pay a % for your employers coverage , check and see if it is tax favored as well as your spouses . Many plans use pretax methods on premiums paid these days to give employees a break . I would lay out both options and play what if , it would take about 5 minutes to show what course of action to follow .


Input: Does Comprehensive Auto Insurance Cover Glass?

Output: Comprehensive auto insurance coverage covers glass breakage -LRB- your windshield , for example -RRB- . Typically , you have a much lower deductible than you have on your collision coverage . And quite often , you will not have any deductible at all . In those situations , the entire cost is paid by the insurance company . As experienced brokers , we can quickly determine the most cost-effective deductible for you and shop the major carriers so you can secure the lowest price .


Input: Does Comprehensive Auto Insurance Cover Glass?

Output: Window glass damage is covered under your Comprehensive portion , yes . Your deductible would apply , unless you have endorsed `` Full Glass Coverage '' onto your policy . Some insurance companies may require , or strongly suggest that you have the work done within a specific network . The law in CT was just recently changed , however , and now we are free to have the work done by anyone we so choose . This `` Fuill Glass '' endorsement only applies to window glass , and is limited specifically to glass . Further , it does not apply to clear plastic sheeting that is comonly found in Jeeps for example .


Input: Does Comprehensive Auto Insurance Cover Glass?

Output: Comprehensive coverage is for glass damage along with theft vandals and deer . usually the deductible is much lower then your collision if your agent wrote it that way . In most cases the difference between 100 deductible and a 500 deductible is only about 3.00 difference a month so having a high deductible is not in your best interest . Most glass shops will waive the lower deductible .


Input: Who Developed Critical Illness Insurance?

Output: According to Wikipedia and other articles , Critical Illness Insurance was developed by Dr. Marius Barnard in 1983 in South Africa . Dr. Barnard named the policy `` Dread Disease Insurance '' . As a cardiac surgeon -LRB- he served on the team of the first heart transplant , headed by his brother , Dr. Christian Barnard -RRB- , he saw how critical illnesses impacted the lives of those who suffered from them , and developed a policy to offset that hardship .


Input: Who Developed Critical Illness Insurance?

Output: South African heart surgeon Dr. Marius Bernard . . Brother to Dr. Christian Bernard Together , they were on the team that performed the first human to human heart transplant . First offered in 1983 , The product spread throughout the British Empire before finally being offered in the United States in 1996 .


Input: What Is Employee Optional Life Insurance?

Output: Employee Optional Life Insurance is life insurance you can purchase at group rates to add to what your employer provides . The Employee Optional Life Insurance can usually cover you and/or your dependents .


Input: Will Medicare Pay For A Handicap Ramp?

Output: Unfortunately the answer to that question is no . Medicare only covers hospital and doctors and medically necessary items . A wheel chair ramp is not considered durable medical equipment . If you qualify for Medicaid or Medicaid waiver it is possible to have the wheelchair ramp built with approval by Medicaid and your case worker .


Input: How To Choose A Medicare Supplement?

Output: Selecting a Medicare Supplement Plan -LRB- or Medigap Plan -RRB- can seem like a very difficult task . However , there are a few things you can do to make the process much easier on you . First , contact an independent agent that specializes in Medicare Supplement Plans and have them compare all the plans available to you . You will be able to save several days or weeks of your time and be able to look at all the plans at one time . Second , start thinking about what type of coverage you want when you need it most . If you were to get a health condition that needed care would you want to be able to treat that condition with the best specialist you could find or settle for one that was in a network ? Some people like to start by doing research online and for that reason we have taken it a step further . You can go to our website SummitMedigap.com and compare Medicare Supplement plans instantly in less than a minute . You can also give us a call at 1-888-407-8664 . We would be happy to answer any questions you have .


Input: Which Retirement Plan Is Managed By An Individual's Employer?

Output: There are several qualified defined benefit and contribution retirement plans that are employer sponsored . The most popular is a 401 -LRB- k -RRB- defined contribution plan under ERISA , Employee Retirement Income Security Act of 1974 . The pretax contributions accumulate tax deferred and some employers match a portion of the employee 's contribution , further enhancing the overall benefit .


Input: Does Group Life Insurance Have A Cash Value?

Output: It depends on the contract with your employer . Sometimes employers offer group life insurance with cash value build up ; Universal Life or Variable Universal Life . Generally speaking most employers only offer group term life insurance . Something is better than nothing . Having group life insurance with cash value can be a nice benefit for employees looking for tax deferral alternatives to 401 -LRB- k -RRB- plans .


Input: Does Group Life Insurance Have A Cash Value?

Output: Group Life Insurance may have a cash value if it is Whole Life or Universal Life insurance . If the group coverage is Term life , there will not be any cash value accumulation . Contact your human resources department to find out what kind of policy your company carries , and if permanent , request an in force illustration to see if there is any cash value accumulation .


Input: How Much Does Car Insurance Rise After A Claim?

Output: That is going to depend on your insurance carrier . Your rates may not change at all depending on the number and the dollar amounts of the claims that you have had within the last five years . Each carrier sets its own standards on how claims will affect your future premiums upon renewal .


Input: Do Annuities Get A Step Up In Basis?

Output: No annuities do not get a step up in basis . The step up in basis only applies the IRS defined investments , a class to which annuities do not belong . Annuity death benefit are passed to the named beneficiary and any gain on the cash is recognized as income with income tax due on this amount on the behalf of the recipient .


Input: Why Might A Young Person Buy Long Term Care Insurance?

Output: There are 2 reasons why a young person might want to buy a Long Term Care Policy : > The average number of people that are receiving Long Term Care that are between 18-64 years old is 41 % - probably a much higher percentage thanmost peoplemight imagine > Long Term Care is significantly less expensive if you purchase it when you 're younger .


Input: Why Might A Young Person Buy Long Term Care Insurance?

Output: In addition to the two excellent reasons Neil gave , I would add that a young person might want to buy Long Term Care insurance if you have a family history of rheumatoid arthritis , multiple sclerosis , diabetes , or other health conditions that increase the chances of needing long term care in the future . It is nearly impossible to get long term care insurance after being diagnosed with some diseases . Getting the coverage while you can is a good idea with any type of insurance that relies on medical underwriting , as Long Term Care insurance does .


Input: What Does Dave Ramsey Say About Variable Annuities?

Output: Dave Ramsey says to only consider variable annuties if you are totally debt free and have used all your tax-deferred options . Make sure you understand the fees , riders , options and surrender period associated with your annuity . Use these four mutual funds : 1 -RRB- growth , 2 -RRB- international , 3 -RRB- growth and income , and 4 -RRB- aggressive growth . Finally , Dave Ramsey says to never use annuities inside retirement options .


Input: How Can I Lower My Insurance On My Car?

Output: One of the easiest ways is taking a defensive driving course that can lower your insurance . If you move to a better neighborhood that can help lowering your payment . Do you have a low deductible ? If you raise your deductible you could have some savings right there . You might get some savings by adding a car alarm . These are just a few suggestions .


Input: Who Needs To Pay Medicare Levy?

Output: Anyone who works automatically contributes into the Medicare fund through FICA taxes . Employees and employers split the bill down the middle . 12.4 % of income is contributed to social security up to $ 113,700 in earnings for 2013 . 2.9 % of earnings are contributed towards Medicare with no income limit . The Affordable Care Act included a provision that increases the contribution made for high income earners . Single earners making more than $ 200,000 and married couples making more than $ 250,000 must pay an additional .9 % towards Medicare . Self employed workers pay the entire amount , and need to make quarterly estimated tax payments including these amounts .


Input: Why Does Landlord Require Renters Insurance?

Output: The landlord is trying to make sure that you are able to handle any lawsuit arising from your being in his building . He is also trying to make sure that you understand that he doesnt have any liability for loss of your personal property , regardless of the reason . Many tenants do not understand this .


Input: By Law Can My Boyfriend And I Have The Same Car Insurance Policy Even If He Doesn't Own My Car?

Output: If you own your car , then the insurance policy would , in most cases due to state laws , be issued in your name alone . If you and your boy friend reside together , and he has access to the use of your car , he can be added as an additional driver on your policy .


Input: How Expensive Is Life Insurance?

Output: Unfortunately there 's too many factors that go into pricing of a life insurance policy to say how expensive it is , including how much coverage you need/want , how long you want it for , the type of product -LRB- fully underwritten or non-medical term , universal , whole , indexed universal , etc. -RRB- , your age , your risk class , etc. . The risk class is the most critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends on a number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Keep in mind , every carrier has their own set of underwriting guidelines and mortality tables , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- Non-medical policies generally cost more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you . Consult with an independent insurance agent/broker and discuss your needs , your budget , and your medical history , to create a program structure that will best serve your needs .


Input: How Expensive Is Life Insurance?

Output: A life insurance policy is a bargain when death occurs during the term of the policy . That is true whether the term is 1 year or to age 120 . Life insurance can be an effective way to accumulate money as well . However , the key issue for most people is to meet the needs of those that they love should they die prematurely . Nothing accomplishes that like life insurance . Meet with a trusted life insurance agent . Let that agent know what you want . Designing a personalized plan to meet your needs is his job .


Input: What Is A Life Insurance Loan?

Output: A life insurance loan often refers to borrowing from an insurance company using the cash value of the policy as collateral . The percentage of the policy 's cash value you can borrow varies by type of policy , but can be as much as 90 % . It is important to pay the interest on the loan , otherwise the compounding could put the policy at risk of lapsing . In Canada , if you borrow in excess of the adjusted cost base of the policy , it is a taxable event . Should you repay the loan , you receive a tax credit . If you borrow from a bank using the policy as collateral it does not trigger a taxable event . If you have further question , or feel I could be assistance , please do not hesitate to contact me .


Input: What Is A Life Insurance Loan?

Output: A life insurance loan is borrowing funds from the cash value inside of a life insurance policy . You can only borrow money from a life insurance policy if it 's a policy that builds cash value - a permanent life insurance program . Permanent life insurance includes both Universal and Whole life insurance programs . Term life insurance does not build cash value and therefore there 's nothing to borrow from . The maximum amount you can borrow is up to the current surrender or loan value cited in the policy at the time you want to borrow from the cash value . Keep in mind , when you take a loan against your policy , the funds are expected to be paid back and , much like you do when borrowing from a bank , an interest rate is being charged on the borrowed monies . If the insured person under the policy dies with an outstanding loan , the carrier will deduct the outstanding amount and any interest charges from the death benefit and give the difference to the beneficiary . Consult with your agent before borrowing from the cash value to find out what will happen when you create a loan against the policy and what you 're responsible for . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Does Health Insurance Cover Hyperhidrosis?

Output: Hyperhidrosis is often a symptom or side effect of an underlying illness . Sometimes patients with diabetes , Parkinson 's , anxiety , congestive heart failure or other conditions can experience hyperhidrosis . When the underlying condition is treated , often the symptom subsides . Sometimes OTC antiperspirants will control the sweating , and sometimes a more concentrated formula is needed . In rare occasions the condition is treated surgically .


Input: Which Life Insurance Company Is Rated As Best?

Output: There is no one life insurance company that is rated as best , but you can look at the website for any life insurance company to find its rating . A good place to start is their About Us tab . They will show their company ratings by AM Best , and if they have them , the ratings of one ore more rating companies . The value of these ratings may be explained right next to the rating itself . E.g. A + -LRB- second highest of 16 -RRB- .


Input: When Do Life Insurance Policies Expire?

Output: Term life insurance policies expire when the number of years in the term are up . However , Term life insurance usually has the option to be renewed annually beyond the term . If you choose to pay that new , higher premium , the policy will stay in effect . Or you may be able to convert your Term policy to permanent insurance , in which case it would not expire . Term life insurance also expires when you quit paying the premium . Permanent life insurance , such as Whole Life and Universal Life , will expire if you stop paying the premium and there is not enough cash value left in the policy to pay the premium . If you have paid the premium so that policy is `` paid up '' , however , and you have followed the rules for paying back policy loans , permanent life insurance will never expire .


Input: When Does Medicare Coverage Start?

Output: For most people , Medicare begins at age 65 . If you are a U.S. citizen or legal resident and have lived in the U.S. for the last 5 years you are entitled to Medicare when you turn 65 . You may also qualify for Medicare if you have been disabled -LRB- Social Security guidelines -RRB- for 2 years .


Input: How Much Does Typical Renters Insurance Cost?

Output: I can only speak about rates in my geographic area based on my knowledge and experience . In my area I have seen renters insurance as low as eight dollars per month . I would say that an average withinmy area amongst the different coverage levels was ten dollars per month . Please contact a local agent in your area to get a quote for thecoverage that you are seeking .


Input: Can You Get Disability Insurance If You Are Unemployed?

Output: You can not purchase disability insurance while unemployed . Disability insurance is sold to replace part of your income if you were to become disabled . If there is no income , there is nothing to base the policy benefits on . There must be income coming in order to qualify for disability insurance .


Input: Can You Get Disability Insurance If You Are Unemployed?

Output: Unfortunately , you can not get Disability Insurance if you are unemployed . Disability Insurance uses the income you bring in from your job as the guideline as to how much Disability Insurance you can get . Without an income , there is no lost income to replace , and thus , the inability to get a DI policy .


Input: What Is Paid Up Whole Life Insurance?

Output: Paid-up whole life insurance is a structure established under a whole life policy where you only pay premiums for a certain amount of years or to a specified age where premiums no longer need to be paid to guarantee the coverage . Once this point is met , the coverage is guaranteed to pay proceeds upon a claim on the policy when death of the insured person occurs . Please note , the shorter the amount of time for the policy to be paid up , the higher the required premiums . The longer the amount of time for the policy to be paid up , the lower the required premiums . Please be sure that the need for whole life coverage is present as whole life almost always the most expensive type of coverage on the market . If you 're buying for purely for death benefit needs , you may want to consider a guaranteed universal life policy -LRB- GUL -RRB- to keep your premium costs down and maximize your death benefit amount . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much .


Input: What Is Paid Up Whole Life Insurance?

Output: That is a great question ! I have a great answer - it means that there is no more cost for your coverage , it is paid off ! There are a couple of ways that you have reached this great place . You might have purchased a policy that was structured to have higher premiums for a period of time , allowing the costs of the policy to be paid off more quickly than the traditional whole life policy would normally have . These policies are more expensive than the traditional whole life policy , but are perfect for someone who may be working , and not want to carry that monthly expense into retirement , yet still wants whole life coverage . For someone who wants to maximize retirement money , this may be a great financial decision . The other way that you might have gotten here is by converting an expiring term life policy . Often when a term policy reaches a point near its end date the option to convert your premiums paid over the life of the policy to payments on that company 's whole life policy that would most closely match your term policy in price . If you choose that option , then the company considers what you have paid on the term as the purchase price for a single payment on a whole life policy , and the face value is determined by that price . For example , I have a client whose $ 100,000 term policy allows him the option to convert it . If he chooses to do that , the premiums he would pay on the policy over the life of the term would purchase about $ 43,000 worth of whole life insurance that is paid up free and clear . He would have that coverage and not ever owe another penny on it . If you have any further questions , I hope you feel free to contact me and ask , I 'm happy to help . Thank you for asking your question !


Input: What Is Paid Up Whole Life Insurance?

Output: Paid up Whole Life Insurance is life insurance for which no further premiums are due . If you received notice that your policy was paid up , and died in the future , your beneficiary would receive the death benefit , even though you had not paid any additional premiums from this point forward .


Input: What Is Paid Up Whole Life Insurance?

Output: Simply put , paid up whole life insurance is a whole life policy that has been paid for in full . Some providers will allow a client to pay the entire policy premium at the outset of the policy . The biggest benefit to that is the cash value of the policy will grow at a much faster rate than when the premiums are paid incrementally .


Input: What Is Paid Up Whole Life Insurance?

Output: This is a type of Whole Life . The Paid up refers to the fact that the premium for your entire lifetime is paid in advance , so no further premiums will be due in the future , for your lifetime . Whole life means that the policy also has cash value during your lifetime , meaning you can borrow against that cash value anytime you wants for anything you want . If you choose never to repay that loan , the amount is deducted from your death benefit , but you keep the money tax free on the loan . There is also Equity Indexed Universal Life you may want to consider . That policy can have living benefits , you do not have to die to use . If you become chronically sick or critically sick or terminally sick , you can access not just the cash value but the death benefit while you are living , long before your death . You could contact a Premier Financial Alliance Associate to get details on both of these programs . PFA is the largest broker for National Life Group , one of America 's five oldest insurers . Thank you . GARY LANE . 714 422 9616 .


Input: What Is Paid Up Whole Life Insurance?

Output: Whole life insurance is life insurance that includes a cash value build up in the policy that reduces the financial obligation to the company . In other words , the client is self-funding the death benefit by a portion of the premium going to the cash value . As the cash value grows the less the company has to contribute to the face amount of the policy . The difference between the face amount of the policy and the cash values is the actual amount that the company pays upon the death of the policy holder . For a cash value policy to be paid-up the cash value build up has to reach a point where it equals the face amount of the policy . This increased funding of the cash value is why paid-up policies are much more expensive than standard whole life policies . As a financial professional , I only recommend term insurance to my clients that gives them 2-3 times the protection needed while building assets through debt reduction and investments in 401ks , IRAs and mutual funds . Keeping your investments separate from your insurance is the financially sound thing to do . If you have any questions please contact me @ 843-450-9879 or visit my website @ www.hinchfinancialgroup.com .


Input: What Is Paid Up Whole Life Insurance?

Output: Paid up whole life insurance policies refer to the cash value of the plan has reached a point that the death benefit now has enough value to pay your premiums the rest of your life without any further contributions from you . In other words you have achieved free life insurance for the rest of your life . Congratulations !


Input: How Does Life Insurance Know You Smoke?

Output: If the company requires a paramedical exam with blood , urine or saliva they will know because the test for nicotine . Otherwise the company takes your word for it . If you lie on an application and it is later found out the company can refuse to pay a claim if a death occurs within two years of the policy issue date . You may also be required to pay back the difference in premium or have your policy rescinded and your premiums returned .


Input: How Does Life Insurance Know You Smoke?

Output: It is amazing how a life insurance company can find out you smoke . They test urine and blood for cotinine/nicotine , if you take an exam . They usually do a phone interview if you do n't take an exam , so you have to state your smoking status both in writing and verbally . They may order medical records . I once had a client who turned out to be rated a smoker , and when I asked him about it , he said he did n't think there was any way the insurance company would find out because he did n't smoke for a month before the exam and even his doctor did not know he was a smoker . It turned out his wife had told his doctor he smoked ! He may have been able to contest that by taking a new exam , but he , of course , was back to smoking by then . If you smoke , just admit it . If you quit smoking later , you can apply for a rate reduction a year after smoking .


Input: Would Single Payer Health Insurance Be Good For America?

Output: You can look at a single payer system here in America right now . The Veterans Administration is a single payer system ; military health care , public health care ; Medicare and Medicaid are all single payer systems . There is generally access to basic health services , however , to control costs more expensive procedures are often difficult to receive .


Input: Does Health Insurance Cover NICU?

Output: If you have a `` hospitalization '' policy which may also be referred to as Health Insurance coverage all the policies typically has a section in which they state how much they pay for a semi-private room , ICU , and NICU . This type of policy alos provides coverage for all other services that would covered while an inpatient at the hospital . These coverages are typically stated like `` so much per day '' or `` at a % of total charges . There are `` indemnity policies '' that pay an charge for the room which is typically chosen by the applicant at the time of applying for the coverage . There is another policy referred to as a `` critical care policy '' which is also an indemnity type policy that states they pay some flat amount for a given number of days if you are an inpatient in the hospital .


Input: What Does Gerber Life Insurance Cover?

Output: For all but their Accident Protection Plan , Gerber Life Insurance covers death by any reason . Life insurance excludes death by suicide during the first two years , and if there is misrepresentation on the application and death occurs during the first two years , there is a chance the policy may not pay the death benefit . Aside from those situations , Gerber life insurance covers death due to natural and accidental causes , as does all traditional life insurance .


Input: What Exactly Does Contingent Mean On Life Insurance?

Output: If you are referring to a `` contingent '' beneficiary , it is simply the `` second '' beneficiary named , so that if something quite unfortunate occurred to the primary beneficiary , the contingent would be the recipient of the proceeds . Initially , when you apply for a life insurance policy -LRB- or other contracts -RRB- , these would be named .


Input: What Exactly Does Contingent Mean On Life Insurance?

Output: Contingent policy beneficiaries or owner can be the second option for the proceeds of the policy if the primary beneficiaries are no longer alive or at the death of the policy owner -LRB- not also as the insured -RRB- . Think of contingents as a backup option or people in reserve that would have an insurable interest in the demise of the policy insured .


Input: What Is The Best Company To Get Life Insurance Through?

Output: There are many good life insurance companies , and no one best company for everyone . As long as it has a good rating -LRB- A or better from AM Best -RRB- , has guaranteed premiums , and has a good price for your age and health , you can get good Term life policies from many companies . If you are buying Whole or Universal Life , you will want to look at policy values along with the variables above .


Input: What Kind Of Life Insurance Can I Borrow Against?

Output: You can borrow against permanent life insurance -LRB- also called cash value life insurance -RRB- policies that have enough cash value for borrowing . The two major types of permanent life insurance are Whole Life and Universal Life . Universal life includes fixed universal life , indexed universal life and variable universal life . It is imperative to make sure that you do n't borrow too much from the policy and cause it to lapse . A lapsed policy with a loan against it can result in tax implications for the policy owner .


Input: What Kind Of Life Insurance Can I Borrow Against?

Output: There are four types of cash value accumulating life insurance products : participating whole life , current assumption universal life , indexed universal life and variable universal life . Participating whole life has two basic loan provisions : spread loans and direct recognition loans . Current assumption universal life has four loan provisions : zero net cost , wash , spread and participating loans . The cost to borrow your money from your policy will vary depending upon which policy loan provision your life insurance policy uses . It becomes even more critical when youre using life insurance as a supplemental retirement income vehicle . The loan cost can be as low as zero up to 350 basis points , so it matters .


Input: Can You Deduct Long Term Disability Insurance Premiums?

Output: If you 're just an average Joe getting disability insurance , you can not deduct your premiums . if you 're a business owner with a corporation , you can pay the premiums through your corporation . At the end of the year , you must claim those premiums paid as income . It 's best to consult your financial advisor and/or CPA for the tax laws .


Input: Does Homeowners Insurance Cover Car Vandalism?

Output: Vandalism to a car is not typically covered under a homeowners insurance policy . If you wish to have vandalism coverage for your automobile then you need to purchase comprehensive coverage from your auto insurance carrier . Please read your policy completely to understand the coverages provided by your policy and any exclusions that may be contained within the policy .


Input: Is Theft Covered By Renters Insurance?

Output: Theft is a covered peril under most renters policies . Recovery is limited to the value of the item minus the deductible . Some policies will allow settlement based upon replacement cost once you actually replace the stolen item . If the property stolen was not in the residence the amount of recovery is normally limited to a percentage of the coverage for personal property .


Input: Does Medicare Cover Xanax?

Output: Xanax is a prescription drug used most often to treat anxiety . Some Medicare Part D will cover at least a portion of the cost of Xanax . In evaluating prescription drug plans , including those coupled with a Medicare Advantage plan , make sure you run all your medications through the Medicare drug formulary finder .


Input: How To Rollover Your 401K?

Output: A 401 -LRB- k -RRB- can be rolled into a very short list of retirement products . The funds must maintain the same tax characteristics . 401 -LRB- k -RRB- proceeds are often rolled into an IRA . Which specific IRA is beyond the scope of this answer . Most 401 -LRB- k -RRB- administrators require a formal request for the fund transfer . The actual transfer is best handled between the 401 -LRB- k -RRB- trustee and the trustee of the new plan that you have chosen .


Input: How Good Is The General Auto Insurance?

Output: The General is as good as any other company in that it will pay it 's claims . You may not get the most competitive rates and you definitely will not get the good service a local agent will provide . Shop several companies . Consider more than rates . When you are in an accident is when you find out how good your coverage really is . Unless you know what the coverages are and the ins and outs of insurance I highly suggest you find a local agent to help you .


Input: How Good Is The General Auto Insurance?

Output: The General is actually a licensed insurance agency that is affiliated with American Family Insurance . Along with other major companies , such as State Farm , Progressive , USAA and Farmers , they offer car insurance to consumers . The companies that are writing the business have A - ratings from A.M. Best Co. . The General has good rates as do many other companies . An experienced broker can shop all of the major carriers for you so you easily find the best offers . It 's always best to focus on highly-rated companies in your area . If you have existing coverage , then , of course , do not cancel your policy until you have been approved for the new policy you applied for .


Input: Why Should I Buy A Medigap Policy?

Output: A Medigap Policy -LRB- Medicare Supplement insurance -RRB- offers great peace of mind when it comes to your health care . Original Medicare Part A and Part B , generally cover 80 % of your Medicare approved amounts for covered medical costs . Medigap Plans will help pay that remaining 20 % by covering the costs of copays , coinsurance , and deductibles . Some people think they do n't need a Medigap Plan because they have n't had any health issues . While that is great news , we do n't have a crystal ball to predict the future . A Medigap Plan that is already in place is there to offer that protection when you need it . If you wait until a significant health issue arises , it may be too late . Medicare Supplement insurance companies use medical underwriting to issue policies . If you 're not in a Guaranteed Issue or Initial Enrollment situation , you will have to answer health questions . Medigap policies do not fall under the Affordable Care Act umbrella , so insurance companies can deny you a policy based on your health . I 'll close with an example of a lady who called me wanting to add a Medigap Plan to her Original Medicare Part A and Part B . She was diagnosed with breast cancer and had a mastectomy . As you can imagine , her hospital and doctor bills were substantial and she was looking for some help . I had to share the unfortunate news with her that because of her recent diagnosis she would not be able to apply for a Medigap policy at this time , but possibly in two years we could re-evaluate her situation . That 's quite a bit of time for more bills to pile up . Had she already put a Medigap Plan in place , her savings would be substantial . Just for example sake , a Medigap Plan F might cost someone $ 130 a month or $ 1,560 over twelve months . Still a lot lower than 20 % of a $ 100,000 operation . A couple of the most popular Medigap Plans are Plan F and Plan G. & nbspMedigap Plan F will cover all Medicare approved amounts . You do not have to pay any deductibles , co-insurance , or co-pays . Plan G acts just like Plan F after you have met the small Part B deductible -LRB- $ 147 in 2014 -RRB- . If you would like more information about the benefits of Medigap Plans , please feel free to contact me at 1-888-411-1329 . You can also visit my website at www.remedigap.com and check out my client testimonials .


Input: Why Should I Buy A Medigap Policy?

Output: A Medicare Supplement or Medigap policy is one very important option for people on Medicare . The main job of a Medigap plan is to act as a stop-loss policy for standard Medicare A and B. For someone with only standard Medicare , there is no maximum out of pocket amount that you can spend on your medical treatment . For instance , if you have a procedure that costs $ 250,000 , you would owe $ 50,000 . With a Medigap policy , that amount would be reduced and max out at a certain point . Depending on your health , your finances , and how much of a loss you 're willing to deal with , different Medigap policies -LRB- or Medicare Advantage policies -RRB- fit best for different people . Talk to a independent broker licensed in your state about your specific situation .


Input: Why Should I Buy A Medigap Policy?

Output: Quite simply because , as the product 's name implies , there are meaningful gaps in what Medicare Part A & B cover . This comes as a surprise to many people as they approach the age for becoming eligible for Medicare , many assume they are arriving at the promised land of 100 % coverage for their health care needs . Nothing could be further from the truth . Medicare was a creation of the early 1960 's when the average life expectancy of an American was shorter and the state of the art in health care was just a couple of steps above a witch doctor in comparison to what we take for granted in 2014 . Going into all the possible areas of financial exposure a person covered only by Medicare Parts A & B is too lengthy to go into here and other respondents have addressed some examples that you can refer to . Suffice it to say , that unless you have a really big financial next egg you can draw upon in your golden years , a Medicare supplement policy is not a luxury it is almost certainly a necessity as you will eventually have health issues whose costs exceed the coverage limits of Medicare Parts A & B .


Input: Why Should I Buy A Medigap Policy?

Output: Medigap plans cover the gaps in cost that Original Medicare -LRB- Medicare Parts A & B -RRB- does not cover . Medicare Part A & Part B only cover about 80 % of a senior 's health care expenses , leaving the insured responsible for the other 20 % . While 20 % does n't sound like a very big figure , it can add up to a nice big medical bill really fast . For example , if you had a procedure done that cost $ 10,000 and Medicare paid for 80 % -LRB- $ 8,000 -RRB- , you would be responsible for the other $ 2,000 of the bill - how many people can just get out their checkbook and write a check for that amount ? That number can be a lot higher too . The idea of a Medigap Plan is to cover the gaps in coverage that Medicare does n't pay for -LRB- all or a portion of that other 20 % , depending on which Medigap plan you have -RRB- . You pay a monthly premium to get these gaps covered so you 're not hit with large bills . The resulting major advantage is it limits the expenses a senior can be exposed to by creating a very predictable health care expense structure - and when you 're on a fixed income , this is vital . A plan F is the most comprehensive Medigap plan available in the marketplace today - plans C , G , and N are very competitive as well . I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage and if you have any other questions . Thanks very much .


Input: How Much Are Disability Insurance Premiums?

Output: Disability insurance premiums will vary greatly , depending on the amount of monthly benefit you receive , the type of coverage , your age , your health and the carrier . Rates could be as low as $ 50 per month or as much as $ 5500 per month or higher . A full-time licensed broker can shop different companies and provide the best options .


Input: Does 1 Point Affect Auto Insurance?

Output: Not usually depending on the company . If you are changing companies sometimes you could lose a discount but it depends on how the companies underwriting is set up . In most cases just having one point on your license will not raise your rates , in fact many companies , other than periodic spot checking , will only check your driving record if you have an accident or claim or at the time you take out your policy . I have seen drivers with as high as six points getting preferred rates because the company had not checked their driving record . Each company is different and each company varies on how often they check driving records .


Input: Does 1 Point Affect Auto Insurance?

Output: In California the answer is anabsoluteyes . California is governed by proposition 103guidelinesand one of the major rating factors is driving record . Every personal lines auto insurance carrier must rate according to your driving record so 1 point will have an impact . This impact can be quite significant . 2 points in a 3 year period and you are no longer considered a California a good driver . This can cause rates to easily double in many cases . I often see clients who move in from out of state who have points on their driving record get a big shock to find out there rates areaffectedby a ticket . So what is a point you may ask . Any minor moving violation is 1 point . A major moving violation can be 2 points with a DUI coming in at 4 points . A minor at-fault accident is 1 point . A at-fault accident that includes bodily injury is 2 points . You may attend traffic school for a minor violation in most areas once every 18 months . All the rest you just have to wait out the 3 years until the points drop off your record . Also some insurance carriers reward drivers for clean driving records that go beyond 3 years so even though your points may have dropped off you still may not be receiving the best rates possible until 5-7 years . And by the way , Insurance carriers in California will check the driving record once a year minimum if not more often . If you move from one carrier to the next an upfront motor vehicle record is always ran .


Input: What is the last day I can pay my premium before the policy is canceled on my car?

Output: Technically this is set up by law in your state . It usually is a specified number of days after the normal expiration of the policy that would give you , and your lienholder notification of a cancellation . Many companies use a date prior to the expiration date as the date that the premium is due for this very reason . Usually the expiration date is close to scheduled expiration date .


Input: What is the last day I can pay my premium before the policy is canceled on my car?

Output: Talk to your Insurance Professional about the specific terms and conditions of your policy as well as the pay plan options and conditions . Most standard issue auto insurance policies offer pay plans that include a certain length of `` grace period '' . These can typically range from 15 to 30 days . Non-standard policies , however , may not offer a grace period at all so it is important to understand your situation completely .


Input: Why Does Clark Howard Hate Annuities?

Output: Clark Howard is an out spoken opponent of annuities . He has several online videos and / content pieces on the topic . In one of Clark 's online video rants against Allianz he says , `` There 's almost never a circumstance that an annuity is called for . '' Check out the URL below : WEBSITELINK


Input: Why Does Clark Howard Hate Annuities?

Output: Everyone agrees that it is necessary to accumulate money for future use . There are critics of every form of investment . Some very smart people purchase annuities . If there were a convention of people all age 85 , I am confident that you would find that those who moved capital into future savings , whether by using the stock market , an annuity , or hiding the money under the mattress would all say that their way of saving was best . It was certainly best for them .


Input: What Is The Purpose Of Annuities?

Output: What is the purpose of Annuities ? Well , the purpose of annuities is two fold . First during the accumulation phase an annuity allows you to invest money safely with tax deferral on the gains until the distribution phase begins . Which leads us to the second phase distribution . This phase the annuity creates a steady stream of equal payouts that a person ca n't outlive .


Input: What Is The Purpose Of Annuities?

Output: Annuities to keep it simple are great when you have saved for years and want some tax breaks we know that the culture we live in is just taxes , taxes and more taxes.Then you have inflation which will consume your retirement like nothing you have ever seen that 's just a couple reasons to purchase an annuity then add in the higher tax bracket as we age and start our social security and now were being taxed at 50 % - 85 % we just ca n't afford to lose that kind of money when we decide to hang it up . A good rule of thumb is to get at least three bids on your savings and look them over good this is your retirement take it serious .


Input: Will Renters Insurance Cover Broken Camera?

Output: The idea behind Renters Insurance is to protect your property which is damaged due to a catastrophic event in the apartment or home you are renting . This might include water damage , fire , theft , etc. . If your camera was broken out side of those type of events , I would not think you would be covered . Talk to your agent or look at the policy for the conditions which will replace items which are damaged .


Input: Is Plumbing Covered Under Homeowners Insurance?

Output: Plumbing that fails is not covered under your homeowners insurance policy , only the damage caused by your failed plumbing if the dwelling is damaged . For example a pipe under the sink breaks . The pipe itself is not covered but the water damage is covered . Of course if the house burns down the plumbing is covered .


Input: Is Plumbing Covered Under Homeowners Insurance?

Output: If plumbing fails suddenly the damage it creates is covered . The plumbing repair isnt covered but the damage to the building and personal property will be covered . Wear and tear on a part of the house is generally not covered . It is the responsibility of the homeowner to do everything to stop further damage the moment a leak is discovered . This includes turning off the water , and with a water damage expert , discovering the source of the water .