Input: What Is A Distribution From A Retirement Plan?

Output: Any time that you take money out of a retirement plan , it is considered a distribution . Depending upon the tax status of the plan , a distribution will usually trigger a tax event . Although the taxation issue is complex you need to understand that when you withdraw money from your retirement plan , even if it is a guaranteed monthly income , it is likely that taxes are going to be due on some portion of the distribution . The only exception is a plan that has been organized under Roth legislation .


Input: What Is Medicare Region C?

Output: Medicare Region C includes the states Alabama , Arkansas , Colorado , Florida , Georgia , Louisiana , Mississippi , New Mexico , North Carolina , Oklahoma , South Carolina , Tennessee , Texas , Virginia , West Virginia , Puerto Rico and the US Virgin Islands . This and other regions are designated for the purpose of supplying Durable Medical Equipment -LRB- DME -RRB- for Medicare .


Input: What Is The Best Secondary Insurance With Medicare?

Output: To supplement Medicare it 's best to have a Medicare Supplement Plan . These are standardized plans in most states . The highest level of coverage is the Plan F Medicare Supplement . It pays 100 % of the co-pays and deductibles for Medicare covered treatments . The others to consider are Plan G which is the same as Plan F except you pay your Medicare Part B deductible which is less than $ 150 per year currently . You will often save $ 200 to $ 300 annually on your premiums choosing a plan G supplement over a Plan F . You can also consider the Medicare Plan N Supplement for an even lower premium but you will take on more doctor co-pays and a few less benefits . There is a high deductible version of Plan F where you have a much lower premium but you pay the first $ 2,070 in expenses each year but are covered 100 % for costs above that . Medicare and your supplement do not cover prescription medicines so most people buy a Medicare Part D plan for those . None of these plans cover dental or eye doctors so some people buy additional coverage for those . All companies sell the exact same standardized Medicare Supplement Plans so it is the easiest type of insurance to shop and compare and lower your cost . A Plan F with one company may be as much as $ 500 per year cheaper with a different company and the coverage is exactly the same . It 's best to use an insurance broker who sells for many companies rather than sign up directly through one specific company . When there is a rate increase -LRB- they ALL have them -RRB- your broker can just re-shop the plans for you and help you get back to a lower premium .


Input: Does Medicare Cover Rhinophyma?

Output: Typically , Medicare only covers treatment of a condition if it 's deemed medically necessary by a doctor . Otherwise you may have to pay for treatment out-of-pocket . I would recommend contacting the Medicare office directly to see if they would cover it for your specific situation . I hope the input is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: How Much Does Long Term Care Insurance Cost Per Month?

Output: Long Term Care Insurance cost are calculated on the basis of your gender , age , health history , current medical condition and the state you live in . But as an example of the monthly cost , an average nonsmoking married couple , in good health , and both age 60 applying for long term care together on one contract should expect to pay around $ 300 a month for basic coverage .


Input: How Long Does A Claim Stay On Your Home Insurance?

Output: Most companies will typically use claims up to 5 years old for rating purposes . The actually claim history that is received by the carrier may reflect claims that are more than 5 years old but they are normally not used for rating . Please remember each carrier is different . Each has there own risk tolerance . Work with a local agent and they will help you find the coverage that will work best for you .


Input: How To Surrender Sbi Life Insurance Policy?

Output: I am not familiar with Sbi Life Insurance however surrendering policies are generally the same with every company . The fastest way is to write a letter to the company , perhaps filling out a company specific form requesting to surrender the policy . A common way is also to just stop paying the premiums . I would only recommend this on a term policy where there is no cash value in the policy otherwise the policy may not be surrendered until the cash value is exhausted .


Input: How To Surrender Sbi Life Insurance Policy?

Output: To the best of my knowledge , SBLI or Savings Bank Life Insurance Co. only markets term life insurance . I may be wrong , but if you purchased a life insurance policy through SBLI , it is likely term life insurance and there is no surrender procedure . Term life insurance is merely cancelled or allowed to lapse . There is no cash value in term life insurance and there for nothing to surrender . Only cash value plans such as whole life insurance or universal life insurance need to be surrendered . Just call and cancel it . SBLI phone number is 888-438-7254 .


Input: Is Life Insurance Taxed In Florida?

Output: Life insurance is not charged income tax in Florida , or in any other state , if the beneficiary not the estate . If there is no beneficiary on the policy , the beneficiaries are all deceased , or the beneficiary was named to be the estate , the life insurance will go through probate and be taxed .


Input: Is Life Insurance Taxed In Florida?

Output: Life insurance in Florida is generally not charged income tax unless the beneficiary of the policy is the estate . Also , life insurance , upon the death of the second spouse , is considered part of the estate for estate tax purposes , no matter who the beneficiary was -LRB- unless it was an irrevocable insurance trust -RRB- . Contact a tax attorney for specific situations .


Input: Should I Enroll In Long Term Disability Insurance?

Output: I always say yes because it 's a very important type of coverage to have that many do n't think about . The way I look at disability insurance is it protects one of your greatest assets - your ability to work . If you ca n't work because of an injury or illness , how do you provide income for you and your family . The answer ? Your disability insurance . When you 're buying a disability policy , the MOST important factor in the coverage is the DEFINITION OF DISABILITY . Each policy will use 1 of the 3 definitions : 1 -RRB- True Own Occupation - this says you are considered totally disabled if , solely due to injury or sickness , you are not able to perform the material and substantial duties of your occupation , even if you are at work in another occupation . In short , this is the most favorable definition you can have . 2 -RRB- Modified Own Occupation - this says that you are considered totally disabled if , solely due to injury or sickness , you are not able to perform the material and substantial duties of your occupation . This one is commonly seen in many individual disability insurance policies . 3 -RRB- Gainful Occupation - this says if you are unable to perform the duties of your occupation or any occupation for which you are qualified for by education , training , or experience due to sickness or injury . In short , this is the least favorable definition . This one is commonly seen in group disability insurance policies through an employer and property and casualty insurers that offer disability coverage . There are many moving parts to disability insurance and is not something I would suggest trying to buy on your own - this is a type of coverage you should consult with an experienced independent disability insurance broker about . Factors such as your occupation class , your income level , the state you live in , your medical history , your age , your desired benefit amount and benefit period , if you want cost of living adjustment riders , and other factors all impact your policy 's structure and premiums . In short , they 're very customizable , 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: Should I Enroll In Long Term Disability Insurance?

Output: Yes , as long as you are dependent or your loved ones are dependent upon your income . Statistically speaking you are 8 times more likely to become disabled than to die . Long term disability allows you to receive up to 70 % of your income until as far out as age 67 years old . long term disability is a must for most people in there financial plan .


Input: Should I Enroll In Long Term Disability Insurance?

Output: That is a difficult question to answer without more details . I can say a tentative yes , Long term disability , in a group setting usually does not provide as broad as coverage as individual plan . That is offset but the fact that group long term disability is often less expensive . Am independent life insurance broker , representing several companies , can help you integrate an individual plan with a group ltd plan . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Who Can Be Trustee Of A Life Insurance Trust?

Output: There are several options for the grantor in the selection of a trustee for an irrevocable life insurance trust : mature and responsible members of the family , fiduciaries of the family and a bank trust officer . Some grantors have also given power of attorney on the personal finances as trustee as well .


Input: What Is Critical Illness Insurance Cover?

Output: Critical Illness insurance is a specified disease based coverage meant to provide a tax free , lump sum face amount up diagnosis of a covered illness.There are several insurance carriers who offer this coverage and as you can imagine , each carrier covers different conditions . That said , there are a select few States where the Department of Insurance has not approved Critical Illness insurance for sale within that specific State . Anyway , of all the conditions covered ... the most important are Heart Attack , Cancer and Stroke . Not to downplay the seriousness of other diagnosed conditions but nearly 80 % of all claims that will get paid from these policies are due to those three conditions . Each carrier offers coverage for other conditions . Some carriers offer coverage for 21 different conditions , while other carriers may limit their coverage to 4 or 5 conditions . Please understand that when looking into Critical Illness coverage , the most important thing to look for is not just what conditions are covered but how they are covered . The benefit definitions are a major consideration and it is `` critical '' -LRB- pardon the pun -RRB- to know the benefit definitions prior to purchase . There are carriers who provide a stroke benefit but will not pay a benefit unless the neurological deficit of the stroke persists for 30 days ... whereas there area few carriers who will pay a stroke benefit once the neurological deficit persists 96 hours . I hope this helped answer your question .


Input: What Should Everyone Know About Annuities?

Output: Tax deferred annuities have differing crediting methods to offer savers and investors alternative options within the product line . Tax deferral can be an attractive economic value with potential prospects in high tax brackets with mid to long term financial goals . Fixed rate annuities are especially attractive to savers as an alternative to bank CDs .


Input: Will Renters Insurance Cover Car Damage?

Output: Did the home or apartment you are renting cause the damage to your car ? Renter 's insurance is designed to protect the household effects you have housed in the home or apartment that you are renting . Outside of some `` liability '' claim that may be within your questiion that I do not understand I think the answer to your question is answered by the very design and purpose of the `` renter 's insurance policy .


Input: How Much Does A Medigap Plan Cost?

Output: Medigap insurance plan rates vary considerably by zip code , age , tobacco use and plan . The older you are the higher your Medicare supplement rate will be . The exception is for those who are under age 65 and on disability and Medicare . In most states rates for under age 65 are astronomical . Many carriers offer competitive rates from age 65 to 74 . Above age 74 some plans -LRB- surprisingly -RRB- become more competitive while others less so . Tobacco use often adds 20 % to the rate but can be more , depending on the carrier . Plan F is the most expensive -LRB- and most popular -RRB- followed by D or G -LRB- depending on your state -RRB- , N then Hi F . You can generally find a site that offers `` instant Medigap quotes '' but keep in mind the most competitive rates are usually not illustrated online . #MedigapPlanFRates #MedicareSupplementPlanFRates #GeorgiaMedigapPlanFRates #GeorgiaMedicareSupplementPlanFRates #GeorgiaMedicarePlans #GaMedigapQuotes


Input: How Much Does A Medigap Plan Cost?

Output: Medigap plan costs -LRB- rates -RRB- are determined by zip code , age , gender , tobacco use , plan selected and most important of all , the carrier . Medigap plan F may vary by a factor of 2 between the highest and lowest cost . It is not unusual here in Georgia to see rates ranging from $ 140 to $ 265 for plan F . When you pay more you do n't get more , you simply paid too much .


Input: What Is A Rider On A Life Insurance Policy?

Output: A rider is more than just someone that rides a horse . A rider in lifeinsurance is something that goes along with the basic policy . Most common riders are Waiver of Premium and Child rider in life insurance . Waiver of Premium rider refers to the avoidance of life insurance fees during a critical illness , as an example . Adding a rider is a way to sweeten the terms of a policy for an increase to the monthly premium .


Input: What Is A Rider On A Life Insurance Policy?

Output: A particular rider that has been gaining momentum recently and changing how people view life insurance is known as an Accelerated Death Benefit rider . This rider allows the insured to access their own death benefit while they are alive . Typically this rider is enacted after the insured has a long-term care type event and requires assistance with activities of daily living .


Input: What Is A Rider On A Life Insurance Policy?

Output: A rider on a life insurance policy is an added benefit to chasis of the traditional death benefit . A return of premium , child rider or a waiver of premium are all additional benefits that increase your coverage and also increase your premium . Make sure that your agent discloses any and all riders on your policy to make sure they are right for you and your family .


Input: How Much Is Whole Life Insurance?

Output: Just like all kinds of life insurance the price you pay for whole life will depend on your age , gender , health history , etc. but in addition your selection of whole life policy needs to be based on your purpose for it . Do you want it for maximum cash build up ? For dividends ? For death benefit only ? Your agent will show you many options even within the same company .


Input: Does Home Insurance Cover Fence Damage?

Output: The fence is included in most homeowners plans . Since fences can vary widely in cost there is a possibility that the fence would need to be individually valued in the policy . For normal fencing the claim might fall near or below the deductible which would make filing a claim to be futile . If you lose all or part of a fence get an estimate and call you agent before you report the loss to the claims department . The changes in your next years premium for having filed the claim could make it advantageous to forgo making the claim .


Input: Does Home Insurance Cover Fence Damage?

Output: Homeowner 's can cover damage to a fence , whether it is a wooden , metal or any other type . If not attached to the dwelling , it may fall under another part of a standard policy including `` other structures . '' Typically , you have 10 % -20 % of the amount on your dwelling covered for other structures .


Input: How To Find Someone's Auto Insurance Information?

Output: Unless you are talking about your own insurance policy , short of asking the person that you are referring to ; you would not be able to find this out . Privacy laws for insurance companies and there personnel are very strict . People involved involved in the insurance industry are bound by many of the same rules as other service professionals .


Input: Is Medicare Advantage Better Than Medigap?

Output: That is a great question ! As Jason said , both plans have their positives , and negatives . The Medigap plans can cost more , but have better coverage . The Advantage plans are generally cheaper , but can change , and become a disadvantage . They are also the focus of cuts under the Affordable Care Act -LRB- Obamacare -RRB- designed to reduce overpayments and administrative costs . There were several large physicians organizations that grumbled about that , and they threatened to drop or cut back services . Whether they actually will , who knows . It might be safer to keep to Medigap . Thanks for asking !


Input: Is Medicare Advantage Better Than Medigap?

Output: It depends on your specific situation and what you want out of your health insurance plan . I will give you some pros and cons to both . Medicare Advantage - 1 . The monthly premium is $ 0 per month or very low . 2 . However , the max out of pocket per year can be as high as $ 6,700 . 3 . Has a network that changes all the time . You need to see doctors and hospitals within that network . 4 . Has co-insurance , c0-pays and deductibles . Medigap Plans - -LRB- also known as Medicare Supplement Plans -RRB- 1 . Has a monthly premium . -LRB- the amount will depend on which plan you choose -RRB- 2 . The max out of pocket is $ 0 or very little . -LRB- some find it much easier to budget a monthly premium knowing they will never get stuck with a giant bill -RRB- 3 . No Network - You can go to any doctor or hospital in any state you want . If they take Medicare they will take your Medigap Plan regardless of who the carrier is . 4 . Has zero or very small co-pays , deductibles and co-insurance . 5 . The benefits can never change with a Medigap Plan . 6 . Medigap Plans are guaranteed renewable which means as long as you pay the monthly premium it can never be canceled on you . You can visit our website for more information . I would be happy to answer any questions you have .


Input: Is Medicare Advantage Better Than Medigap?

Output: For some people Medicare Advantage plans are an excellent senior health insurance solution . I believe at last count we were in the 13 to 14 million seniors participating in Medicare Advantage plans . As with most every choice in life there are tradeoffs involved . Medicare Advantage plans are essentially HMO plans for Medicare eligible seniors . They offer a broad , comprehensive range of benefits and value added services and wrap everything up in one package . The flip side to Medicare Advantage plans is that their enrollees operate within the plan ` scontracted network of providers to receive their care . This does , by necessity , impose some restrictions on their member 's choices in doctors , hospitals , pharmacies , etc. , and this environment is not for everyone . That said , changes in the American health care system , some but not all prompted by ObamaCare , are also working in ways that make it more challenging for traditional Medicare enrollees to find and/or keep health care providers that accept Medicare . So , whichever way a senior citizen decides to go they will probably be faced with some difficult choices and compromises . Medicare Advantage plans vary from one insurance carrier to another . One ca n't objectively say that Medicare Advantage plans are , as a class , a better or worse choice than traditional Medicare plans . That is a determination that each individual has to make for themselves based upon their perceptions of their present and future needs . Certainly Medicare Advantage plans are an option that a senior citizen should consider but the important thing is that people have a choice .


Input: Is Medicare Advantage Better Than Medigap?

Output: It depends upon your situation . Medigap plans are on average more expensive than Medicare Advantage plans . However , they tend to cover more costs that you may incur . It is important to discuss with your insurance broker your current situation . Your current health , financial situation , and the plans that are offered in your area all influence whether you should get a Medigap or Medicare Advantage policy .


Input: Is Medicare Advantage Better Than Medigap?

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


Input: Does The IRS Tax Life Insurance?

Output: The IRS does not tax most life insurance with income tax . If a cash value policy is a Modified Endowment Contract , the cash value is taxed . And if there is interest paid to a beneficiary because they are receiving their life insurance proceeds on a payment plan , the interest is taxed . Also , money left to the estate is taxed . But as a general rule , if money is life to a person as beneficiary , that person does not pay income tax on the life insurance received . Estate taxes do apply to life insurance , if the amount of the estate is above the exempted amount .


Input: Can You Add A Parent To Your Health Insurance?

Output: This is a good question . I have not seen this being possible for plans although I can not speak for all plans . However , I have sold many plans and many types of plans . You may have the option to get your parent their own individual plan . Cost would depend on factors such as age , height , weight , etc. . A broker can help you with your options .


Input: What Information Do I Need To Get Auto Insurance?

Output: To secure auto insurance coverage with a carrier you will need your personal information -LRB- of course -RRB- , the VIN number of the vehicle that you are seeking to get insurance coverage for , an estimate of your mileage to work -LRB- at least one way -RRB- , the personal information of any other drivers in the household unless they already have their own auto insurance coverage , and money for the first payment . This is the minimum information required .


Input: Can I Buy A Life Insurance Policy On My Parents?

Output: You can purchase life insurance coverage on anyone you share an economic insurable interest , including parents . Of course , they need to sign as the policy insured on the application and have to be mentally competent to do so . Life insurance policies held between different family generations are quite common .


Input: Can I Buy A Life Insurance Policy On My Parents?

Output: This is a very common question . The answer is yes . Let me give you an example of what one of my clients did . It was very thoughtful . My client is a woman in her 30s . She is very devoted to her mother , who is in her 60s . Her mother took great care of her when she was growing up , and now she wanted to pay your mother back . She makes sure her mother lacks for nothing . She bought her a house , and pays her monthly bills . She bought her a car . She treats her to vacations . Her whole attitude is that my mother took great care of me , and now that I have the money , Im going to take great care of her . Of course , all the money she is spending now on her mother , is money she can not spend on herself and her own future . She is basically depleting her retirement fund for her mothers care . She came to me and basically said that she would like to get reimbursed at some point for the money she is spending on her mother . She will happily provide for her mother as long as a mother is alive ; however , when she dies , she would like to have an insurance benefit paid to her to replenish her own retirement fund . The goal was to get a life insurance company to offer a policy on her mother for that reason . And I did it . It took some digging , but I did find a life insurance company to buy into that concept . They did set a limit on the face amount , but it was reasonable as far as what my client wanted to accomplish . Certainly a win-win situation .


Input: Is A Lump Sum Life Insurance Payment Taxable?

Output: If you 're referring to you receiving a lump sum proceed from a life insurance death benefit , the answer is generally no . If you 're referring to a lump sum surrender of cash values from a life insurance company , then there may be anordinaryincometaxable event on all gain in the policy .


Input: Is A Lump Sum Life Insurance Payment Taxable?

Output: As the other contributor stated , there are no income taxes owed on a lump sum of life insurance paid out to a beneficiary , in most instances . If the beneficiary is the estate , or if there is no beneficiary listed , the proceeds will be left to the estate and taxes will be charged .


Input: Is A Lump Sum Life Insurance Payment Taxable?

Output: In most cases , no . Life insurance proceeds are normally received income tax free by the beneficiary . There are situations where the proceeds can be taxable such as with employer owned life insurance where certain requirements to make the proceeds non taxable are not met . Or in the case of policies that have three different parties to the contract - insured , owner and beneficiary are different - insurance proceeds might become taxable .


Input: Should Roommates Get Separate Renters Insurance?

Output: Roommates should have separate tenant insurance policies . There is no `` insurable interest '' in the property of the other on which to base a legal basis to pay a claim . Moreover , liability of the one without insurance will be uninsured and there are no legal means available to a policyholder to assume liability or transfer rights under a policy .


Input: Should Roommates Get Separate Renters Insurance?

Output: For the most part , yes , roommates should buy their own policies . It is always a good idea to talk to your Insurance Professional about the specific laws in your state and terms and conditions of your contract . However , having your pwn policies means that in the event of a loss , there would be less liklihood of having to try to determine which of you owned what .


Input: Should Roommates Get Separate Renters Insurance?

Output: There isnt a legal definition for roommate . The person who needs to have a renters policy is the person whose name is on the lease and who has personal property on the premises . The personal property of a roommate is not covered by the policy although it is difficult to establish who owns what . The only person who must have the liability protection is the person on the lease .


Input: Will Homeowners Insurance Cover Broken Sewer Pipe?

Output: Broken sewer pipes are not normally covered by a homeowners policy . The peril that probably broke the pipe is earth movement which is excluded . Flooding could have contributed but it is doubtful that the pipe was damaged by fire or lightning . If you think that you have a claim , though , discuss it with your agent or with the claims department .


Input: Will Homeowners Insurance Cover Broken Sewer Pipe?

Output: More than likely no , there would be no coverage in your Homeowners ' policy . Fore the most part , if a pipe like that were to be damaged , it would be due to earth movement , which is an excluded peril in your Homeowners policy . That having been said , talk to your Insurance Professional because you can usually endorse your homeowners policy to include such a loss cause . Now also remember that if the pipe was damaged because a truck happened to drive over the area and cause the earth to compact causing the pipe to break , then the contractor and his insurance company would be responsible for the repair .


Input: When Is Life Insurance Part Of An Estate?

Output: There are a few reasons why life insurance proceeds would become part of the estate . The first reason was the estate was the beneficiary . This is not wise unless a trust has been established . This will tie up the life proceeds in probate and can make them taxable when they should be income tax free . The second common reason is the beneficiaries preceded the insured in death and there was no living contingent beneficiary . The third most common reason is an older life policy that the beneficiary has not been kept up to date . This is an example of why consumers need life brokers to stay in touch and keep these policies up to date for the sake of the beneficiaries .


Input: When Is Life Insurance Part Of An Estate?

Output: First of all , you really need to talk to an estate planning attorney about this . We insurance guys know a lot about estate planning , but when there is a lot on the line , you need to consult with the expert . Plus , frankly , unless we have a special professional liability policy to cover this area , we dont have the insurance protection needed to cover our mistakes . One other point : make sure the attorney with whom you speak is a specialist in estate planning . Not real estate , not commercial law , not litigation . You want to get the best advice possible . Too much money is involved to speak with someone who only has a general knowledge of the field . Having said that , I can offer the following : If you designate yourself as the owner , could the benefit amount be included in your state ? Yes . If you designate the estate as the beneficiary , could the benefit amount be included in your estate ? Yes . If the beneficiary predeceases you , could the benefit amount end up in your estate ? Yes . Now : can you avoid these issues ? Yes . Could you use a trust as a tool for doing so ? Yes . Do you have a choice among different kinds of trusts ? Yes . Can you see why you need to talk to an expert on estate law to make a final decision here ? There are a number of routes to take . Whatever route you choose , you still need your broker to audit your policy on a regular basis . He or she needs to make sure it continues to meet your original expectations . If you do use a trust , a policy audit will definitely be beneficial to your trustee . That person could have legal liability if the insurance policy underperforms . A policy audit could head off trouble .


Input: When Is Life Insurance Part Of An Estate?

Output: When the owner of a life insurance policy dies , and he/she is also the Insured , the proceeds of that policy are considered part of his/her estate . If the beneficiary of the policy is a spouse , that money passes to the spouse tax free . If there is no surviving spouse , the money is subject to estate taxes , but only if the value of the entire estate exceeds a certain amount . If the money is left to an ILIT -LRB- irrevocable life insurance trust -RRB- that was properly set up years before the death of the Insured , then those proceeds are not considered part of the estate .


Input: When Is Life Insurance Part Of An Estate?

Output: Life insurance becomes part of the estate if none of the beneficiaries are able to be found . This is one of the reasons it is important to keep your life insurance policies up to date . If you purchased the insurance through an agent , make sure to keep them informed of any changes in your choices . It will make everything easier for the people you leave behind .


Input: When Is Life Insurance Part Of An Estate?

Output: Life insurance benefits are income tax free , but they can be included in the calculation of your taxable estate for estate tax purposes.The life insurance proceed amount is included in your gross estate if the proceeds are paid to the estate - this can happen if the named beneficiaries predecease the insured or if the estate is named the beneficiary directly . A life insurance trust can help keep the proceeds out of the calculation of the estate - the trust would become the owner and beneficiary of the policy and control how the monies are paid out .


Input: Who Sells Long Term Care Insurance?

Output: There is a small inventory of long term care insurance companies left in the market place . While there are other companies these appear to be the real players in Long term care insurance : Mutual of Omaha , John Hancock , Med America , Trans america and Genworth . keep in mind that some long term care insurance riders are attached to life and annuity contracts as a supplement to elder care for seniors .


Input: Who Sells Long Term Care Insurance?

Output: The agents who sell Long Term Care Insurance are licensed in Health Insurance . However , many life insurance companies also sell Long Term Care Insurance , and many agents who specialize in Life Insurance also sell Long Term Care Insurance . You can input `` Long Term Care Insurance Quotes '' in a search engine to bring up a list of companies and how to reach them , or a broker who sells their products .


Input: Why Are Medigap Policies Standardized?

Output: The rules for Medigap policies are established by the federal government even though the policies are sold through private health insurance companies . The long and short of why they were designed to be standardized is because they are SUPPLEMENT plans to Original Medicare and work WITH your Part A & Part B coverage . They do not provide the coverage in place of it -LRB- the ones that do would be Medicare Advantage programs which operate in similar fashion to traditional under 65 health plans -RRB- . I hope the information is helpful - if you have any other questions regarding Medigap plans and or need quotes for coverage , please feel free to contact me . Thanks veyr much .


Input: Is Homeowners Insurance Increasing?

Output: That is a great question ! Unfortunately , they probably are . The price for homeowners depends in part upon the cost of building and repairing homes near you , so as construction costs rise , so do premiums . The price can also rise if a number of claims have been filed near you , and if the company is trying to recapture lost profits . Your best bet is to contact a local agent who can help you compare prices , and see if there is one that might be more affordable . You can always gamble and raise your deductible also . Thank you for asking !


Input: Is Homeowners Insurance Increasing?

Output: On average they are . Of course rates can vary state to state and region to region within those states depending upon the type of risk that may be more prevalant . Coastal areas are more susceptible to wind and hurricane losses whereas inland plains states might have to deal more with tornadoes or wildfires . Flooding can occur anywhere and though that is not covered by standard Homeowners policies , homeowners who happen to own property in a higher risk flood zone will be required to purchase Flood Insurance , thus increasing their insurance costs . Climate change has certainly affected the frequency and severity of certain weather patterns and that has had a direct impact on property losses and therefore insurance premiums .


Input: Is Homeowners Insurance Increasing?

Output: Rates depend upon individual states . They could be moving one way or another in your state . However , your individual policy may be increasing for some other reasons . These havent anything to do with the states rates . The fire rating for you home may have changed based on industry evaluation of homes in your area . Your policy might have a provision that increases some coverage every year to compensate for the increased cost of reconstruction . Your home has undoubtedly aged a year and your policy probably adjusts for that . On an individual basis , a paid claim can affect your premium .


Input: Why Get Disability Income Insurance?

Output: We need disability insurance so that we can continue receiving a paycheck should an illness or disability strike . If you became ill or disabled , how long do you think you could sustain your lifestyle without a paycheck ? For most Americans , the typical answer is about 6 months . We dont think twice about insuring our cars , homes , boats or health , but we forget that our most important asset is our PAYCHECK . Disability insurance is a fancy way of saying paycheck protection .


Input: Why Get Disability Income Insurance?

Output: The biggest reason to get Disability Income insurance is so that you can keep income coming in at a time when you need it most . Suffering a disability of any duration can be a traumatic and costly experience . To have the added financial pressure of no income coming in can make it much more difficult . Getting Disability Income Insurance will at least partially protect you from that added stress by paying you up to 80 % of your income while being unable to work .


Input: When Does A Life Insurance Policy Endow?

Output: A life insurance policy endows when the guaranteed cash value equals the initial face amount . The typical policy may endow at age 100 or for policies using the latest mortality table , they may endow at age 121 . Bear in mind that a life insurance policy 's premium schedule may differ from the endowment year . In other words , a policy may have a premium paying period of 10 or 20 years or age 65 yet the endowment will still be later .


Input: When Is A Whole Life Insurance Policy Paid Up?

Output: A whole life insurance referenced as being paid up means that the policy is self-sustaining because of the size of the cash value relative to the face amount and the interest and dividends earned can keep the policy going forever without the need for any more premium payments to keep it going . The policy uses the cash value to pay the premiums for the policy . If you borrow from the cash value for a `` paid up '' policy , you can affect its ability to keep the policy going without paying more premiums . In short , you can make a `` paid up '' policy no longer paid up - you may have to start paying premiums again . Some policies are specifically designed to stop premium payments after a certain number of years -LRB- e.g. a 10 pay , 20 pay , pay to age 65 -RRB- . You 're paying more in premium per year , but the overall sum total that you pay over a given time -LRB- e.g. compared to paying a lower premium for 35 years -RRB- can offer savings in the long run . I hope the information is helpful - please feel free to contact me if you have any questions . Thanks very much .


Input: When Is A Whole Life Insurance Policy Paid Up?

Output: It depends does not really sound like much of an answer . It really does depend on the type of plan you have chosen . Some plans are guaranteed paid up after a number of years for example 20 years , at age 65 or 100 It would be stated in the policy contract . If the policy is participating -LRB- with dividends -RRB- then you maybe able to use dividends to reduce or pay premiums . -LRB- Dividends are not guaranteed -RRB- If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Can I Be Denied Medigap Insurance?

Output: If you apply for Medigap coverage during your initial enrollment period -LRB- usually at age 65 -RRB- you can not be denied coverage . Also , there are specified guaranteed issue situations where a carrier can not deny your application . These situations include losing an Advantage plan , losing your employer group health insurance plan -LRB- past age 65 -RRB- or if your current Medigap carrier exits the market or goes bankrupt . Outside of specified guaranteed issue situations , you can buy a Medigap plan at any time subject to medical underwriting .


Input: Can I Get Car Insurance For Just 1 Month?

Output: Yes . There are some regional carriers that can provide short-term car insurance . This is used when someone is borrowing a friends car , or for a long term rental . I do not recommend purchasing a six month policy then cancelling it after one month . The reason I do n't recommend this is that insurance companies want to know if you canceled a policy early on applications . If you are applying for insurance in the future and answer honestly -LRB- which you should do -RRB- , then it will cause your rates to go up , or could cause the underwriters to decline your risk . I hope this helps .


Input: When Should I Get Long Term Disability Insurance?

Output: There are schools of thought that purchasing long term care insurance -LRB- LTCi -RRB- early on when youre healthy is the ideal time to buy LTCi . Conventional wisdom is no later than age 50 when the potential morbidity events begin to increase and at age 62 for price considerations . Establishing a long term care insurance policy is part of defensive retirement planning and should be a high priority based on life expectancy and the average cost for extended care during your senior years .


Input: Does My Spouse Need To Be On My Auto Insurance?

Output: To the best of my knowledgein Wisconsin all licensed drivers within the household must be listed on your policy unless they have their own policy . Each state has it 's own regulations about auto insurance coverage and regulations change from time to time . I would recommend that you contact your local agent to find out what the requirements are within your geographic area .


Input: Is It A Law That You Have To Have Health Insurance?

Output: When you filed your federal tax return for 2014 -- sometime before April 15 , 2014 -- you may have realized for the first time that failure to have purchased health insurance in 2014 subjected you to a special tax penalty , known to tax lawyers as a `` shared responsibility payment . '' Last year , 2014 , was the first year for which tax penalties were assessed for failure to obtain health insurance . You will be assessed a similar penalty for the present tax year , 2015 , unless you purchase insurance for this year . Normally , you would be required to purchase insurance by February 15 - the end of the open enrollment period for the year . However , if you can claim that you were not aware of the tax penalties until recently , applicable regulations extend that deadline and allow you to purchase insurance up to April 30 , 2015 . The tax penalties for not obtaining health insurance are significant , and they are going up in 2015 . For example , a single person with income of $ 40,000 , paid a penalty of about $ 300 in 2014 , but in 2015 the penalty would be about $ 600 . A married couple with two children and joint income of $ 70,000 , paid a penalty of about $ 500 in 2014 , but in 2015 the penalty would be almost $ 1,000 . You can take advantage of this special extended enrollment opportunity through Covered California , the health insurance marketplace established by the State of California under the Affordable Care Act to make it easier for Californians to shop for , compare and purchase private health insurance . Depending upon your income , you may qualify for subsidies that will reduce the cost of health insurance to you and your family . You have a number of insurance options available to you through Covered California . In general , you can purchase a bronze , silver , gold or platinum policy -- the bronze policies have lower co-pays and premiums , but also offer more limited coverage and higher deductibles . Platinum policies are more expensive and offer greater coverage . Silver and gold policies fall between . Depending upon where you live , you can purchase policies from the following private insurers on the Covered California marketplace : Anthem , Blue Shield , Chinese Community Health Plan , Health Net , Kaiser Permanente , LA Care , Molina Healthcare , Sharp Health Plan , Valley Health and Western Health Advantage . If you do not wish to purchase insurance through Covered California , you may still take advantage of the extended enrollment period through April 30 . Private insurers have been authorized to extend enrollment to April 30 -LRB- from the normal cut-off of February 15 -RRB- to those Californians who had not been aware of the tax penalties for failure to purchase insurance . Insurers are not obligated to extend the standard enrollment period , but a number of them have , including Kaiser Permanente , Anthem , and Blue Shield . However , please note that if you qualify for subsidized health coverage , the subsidies are only available if you purchase your health policy on the Covered California market . Two additional quick notes : If you qualify for Medi-Cal , you may apply at any time . You are not subject to the April 30 - or any other -- application deadline . And if you are the subject of certain major changes in your life -LRB- for example , loss of health coverage through your employment , marriage , move to California -RRB- , you may enroll in an insurance program after such event . However , in all other circumstances , if you want to avoid paying a tax penalty when you file your taxes next year , take advantage of this special enrollment extension and purchase an eligible health insurance policy by April 30 , 2015 .


Input: Is It A Law That You Have To Have Health Insurance?

Output: The Patient Portability and Affordable Care Act -LRB- PPACA -RRB- commonly known as Obamacare is not a law that you have to have health insurance . It does require insurance companies to allow you to join an insurance plan regardless of your past health history . This would be extremely expensive for the insurance companies if only sick people joined the plans and healthy people did not . Because of this , a tax was set up to encourage everyone to join a plan . If you do not sign up for a health plan by March 31 , then you will owe a tax on your income tax next year equal to 1 % of your income or $ 95 dollars , whichever is more . More importantly though , if you do not sign up for health insurance , you wo n't have health insurance . Even the healthiest person could contract an illness or injury and need medical care . With medical expenses getting higher every year , paying a few hundred dollars each month to ensure that you wo n't have to pay thousands unexpectedly is a good trade off . The deadline is approaching quickly , so please contact a local broker and sign up for health insurance .


Input: Much Does Auto Insurance Increase After Speeding Ticket?

Output: A speeding ticket will not always increase your auto insurance rate . For example , the insurer may check your driving record every 2-3 years . in those instances , you may have a few years of retaining specific discounts before there is a rate change . Of course , the carrier may check the record annually . It is also possible the ticket has no impact on your rates . Each company is different with separate sets of underwriting guidelines . When applying for a new policy , a recent ticket will have a bigger impact . Since the underwriting department bases your premium on your current driving record , it will likely impact the rate you are offered .


Input: Will My Health Insurance Cover A Breast Pump?

Output: Check with your company but I would say no in most cases . Breast Pumps are not a medically necessary item , they are more of a convenience and really not that expensive anyway . If there is a medical necessity then it is possible your company would approve the breast pump .


Input: Will My Health Insurance Cover A Breast Pump?

Output: In 2014 , The Affordable Care Act will increase the preventive coverage that must be provided on health insurance plans . Breast-feeding counseling and presumably education will be covered . Coverage on the actual pump seems to vary.It is best to contact your broker that represents the policy and he/she can quickly determine benefits .


Input: Is Pneumonia Shot Covered By Medicare?

Output: Yes , a pneumonia shot is covered by Medicare Part B for anyone receiving Medicare . Pneumococcal shots are usually only needed once in a lifetime to prevent pneumonia . If you doctor does n't accept assignment , you may have to pay an additional fee for the doctor 's services , but not for the shot itself .


Input: What Is Medicare Voucher System?

Output: The Medicare voucher system gained some attention during the last election when Paul Ryan talked about ways to make Medicare more accessible to beneficiaries . It is no different from the current system in that you have a choice between original Medicare or a privatized Medicare Advantage plan funded -LRB- in part -RRB- by Medicare .


Input: How Much Will A Million Dollar Life Insurance Policy Cost?

Output: I would n't be able to provide a figure for your without knowing more about what coverage structure you 're looking for and your medical history . The cost -LRB- premium -RRB- for a $ 1,000,000 life insurance policy depends on a number of factors so it will be different for everyone . These factors include their age , gender , how long they want the coverage for -LRB- 10 , 15 , 20 , 25 , or 30 year term insurance vs. permanent insurance -RRB- , and their risk classification -LRB- determined by the medical history -RRB- . The risk classification is the MOST critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends on a number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Please keep in mind - every carrier has their own set of underwriting guidelines , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . I would suggest consulting with an independent life insurance broker who can work with you on a personal level and help determine which carrier will be able to offer you the desired coverage at the lowest possible cost . Online `` instant quotes '' only provide input based on teh factors entered in , but not necessarily what you will qualify for - this is why talking to an agent is critical for providing the most accurate information for you . I hope the information is helpful - please feel free to contact me for assistance with your coverage , including quotes and policy comparisons , and if you have any other questions . Thanks very much .


Input: How Much Will A Million Dollar Life Insurance Policy Cost?

Output: The premium for a million dollar policy will depend on your age , gender , tobacco status , health , build , and certain risk factors . It also depends on how long the premium is locked in . E.g. . The cost for a permanent policy would be more than for a term policy , because the premium is locked in for life . You can use a quote engine offering `` instant '' quotes to input some different variables to see what a million dollar policy could cost for you or others . Please converse with an agent by phone , email , or in person before purchasing your policy . Getting with the right company is important with a policy this large , because there is a lot to be saved when you get the lowest premium .


Input: How Long Are Medicare Cards Valid For?

Output: Medicare cards are valid for as long as you have them . In the United States , Medicare cards do not have an expiration date . If you lose them , you can order a replacement Medicare card . But other than for that purpose , there is not a need to order a new Medicare card .


Input: Which Health Insurance To Buy?

Output: The health insurance plan you should buy is the one that is most suitable for your specific needs . It 's true ! Different plans are available in different parts of the country - plus , we all have our own preferences and cost tolerances . The cost of a plan will vary from person to person as we each can be of a different age , live in a different area , some may use tobacco products and some do n't , and you may or may not qualify for a subsidy that can reduce your premium . Under the Affordable Care Act , you have the options for bronze , silver , gold , and platinum level plans -LRB- as you go up in metal , the price goes up , but provides better benefits -RRB- - some areas also have a catastrophic plan available . In addition , your age is a big factor as well . The younger you are , the cheaper your premium - the older you are , the higher your premium . Also , if you use tobacco products , your premium can be increased up to 50 % as well . All of the plans offer good coverage . A silver or gold plan are your middle of the road type of plans because they provide strong coverage at an affordable price . I always recommend consulting with an experienced health insurance broker before you apply for anything . We can help you determine the plan that 's going to be most suitable for your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: It is my opinion that the agent plays a more important role than the company . The agent is the one who will advise you on setting limits . When you have a claim those limits will determine how much of the claim will be paid by the insurance company . The advice of an agent is very important .


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: The simply answer is that an experienced independent insurance broker works for you and your interests for free . We have access to multiple carriers and can shop unbiased for your best option to meet your unique needs . If you purchase direct from an insurance company , you get one best option and chances are not your best option . The companies you are familiar with advertise and market heavily . That cost is passed on to you as a consumer . Brokers have access to companies you are not familiar with who do not have large marketing budgets and ultimately have more affordable premiums for the same coverage .


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: This is an outstanding question ! It goes to the heart of how best to protect your family , and sort through all of the choices out there . It can be scary trying to figure out who has the ` best deal ' and since most people do n't understand a lot about insurance , how not to get taken . I think it is fair to say also that people do n't have a high opinion of insurance to begin with , so agents are n't seemingly much better . So why not just choose a policy from an on-line company or name brand company ? Here 's what I 'd say to you . I have always done business as much by my feel for the person as by their product . If my server does n't care about me or my meal , I do n't go back to the restaurant , or I only order carryout from them . If a bagger at the grocery store just throws my groceries haphazardly into the bags , I 'll look for a different line every time . I want to know that the person I 'm dealing with cares about me , and my business . I also want to know that I have some flexibility - if they 're the only bagger or server , I wo n't go back to those places . An independent agent can offer more options than a name brand office agent would . The name brand can only offer that companies policies , and prices . If their policy is the best one , and I feel the agent truly cares about me and my needs , I 'll buy from them . Chances are though , I 've met with at least one other independent agent -LRB- one not tied to a single brand name - I myself work with several -RRB- to shop prices and coverage before deciding . Again , how they presented themselves to me as they worked for my business was as much a consideration for me as the policy details . If I did n't feel like they cared about anything but the sale , I 'd leave , and thank them for their time . When the time comes that I need help -LRB- and it inevitably does -RRB- I want someone who cares and jumps to help , not someone who has to hunt to figure out who I am . i guess for me , I want a relationship with my business people , -LRB- and my clients -RRB- not just a transaction . I hope that helps you , and I thank you for asking !


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: If a particular product that you need is offered by both direct and agency channels , you certainly are free to choose . However , and of course I am a bit biased because I am a Lisenced Insurance Professional who has served his clients and community for 30 years , it is my opinion that taking advantage of the professional services , advice and counsel offered by a local agent adds value and better protects you and your famil from dangerous gaps in coverage .


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: With many companies , an agent is required before they will take your application . And many people get declined , get a policy they did not understand , or pay more than they need to pay when they decide to apply on their own . It does not cost any more premium to use an agent , and the services an agent provides can be very valuable . There is one more reason to use an agent to apply for a policy . When an agent points you to the most affordable life insurance for your health and age , your agent will not make any income from that advice unless you apply through him/her . Obviously , agents can not make a living just giving out free advice . And again , it costs no more for you to apply through the agent - in fact , it could save you a lot of time , money , and frustration to let your agent guide you through the application process . Thank you for asking - that was a great question .


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: When you buy from a company you 'll get acceptable advice , I have little doubt . What you wo n't likely get is advice from someone who knows where you live on a personal basis . You 'll also probably never get to speak to the same person twice because service by the company is n't assigned to one person but a phone boiler room full of inbound call clerks . You 're not likely to get advice that is based upon actual experience but is learned from the sterile depictions in a text book . In a nutshell , it is hard to make a call center accountable when something goes wrong with your coverage . On the other hand , I learn to help you avoid problems when I also get to experience the problems our customers encounter . In effect you get the collective experience of 1000 's of my customers . Plus , no phone clerk has the incentive I have to help you get insurance right ! We 're certainly not perfect but an agent might be the best thing that comes with a policy . By the way , the Ohio Dept of Insurance has just come out publicly with a recommendation to buy insurance from an agent . I happen to agree .


Input: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: I always recommend using an independent insurance agent who can compare multiple insurance companies instead of just one carrier . Agents who work for a specific carrier are known as `` captive agents '' and must apply through that carrier before they can look at other companies -LRB- and usually they can only look at other carriers if they were declined by the first company -RRB- . There 's no extra cost to using an independent agent versus calling the carrier directly and you get all of the added services at no charge -LRB- instead of getting a random customer service representative to try to answer your questions . Through an agent , you can speak with the same person for all your questions and get any input that you need . Applying through an agent can save you tons of time , aggravation , and frustration through the application process - and of course , they can save you a lot of money by determining for you which insurance company may offer the coverage at the lowest possible cost . Often times when you try to ask 10 different people for help , you can have too much information thrown at you and the process can become confusing . When you 're looking for coverage , stick with an agent who you feel is knowledgeable , experienced , and will help you determine how much coverage is suitable to your needs and which carrier will offer it at the lowest possible cost based on your medical history . 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: Why should I buy insurance from an agent rather than directly from the insurance company?

Output: First of all , an experienced agent will be able to ask the right questions to make sure the client is getting the right face amount of insurance instead of just guessing the right amount . Secondly , by having a trusted agent will make any future changes or additions to a financial plan to keep the client on track . The career agent is interested in the client 's needs and does not look at the client as just a sale . Ronald G Hinch , www.hinchfinancialgroup.com , 843450-9879 .


Input: How Does Borrowing Against Your Life Insurance Work?

Output: For permanent life insurance , the policy owner has the right to borrow from the cash value subject to the terms in the contract . So , the owner can borrow life insurance cash values , even prior to age 59-1/2 , without a tax penalty as it is not a distribution . Loans will reduce the policys death benefit and cash value available for use . But use care here since if the policy lapses or is surrendered in full while there is an outstanding loan the amount of the outstanding loan is taxable to the extent that the policy 's gross cash value exceeds the policy owner 's basis -LRB- sum of premiums paid -RRB- in the contract . Policies that have a cash surrender value and have been in force for awhile have a maximum loanable value of close to the cash surrender value . Your annual statement may also have the value for loan purposes . Policies vary widely and there are many factors to consider . The best way to get a current value is to contact your life insurance professional or the insurance company directly .


Input: How Does Borrowing Against Your Life Insurance Work?

Output: Borrowing money from a permanent cash value life insurance policy has a few considerations : the loan interest rate , the surrender charges and the performance of the crediting method . Policy loan costs will vary from policy to policy , i.e. zero net loans , wash loans , spread loans , direct recognition loans and participating loans . Surrender charges in the early years can be punitive resulting in reduced access to the account value . The performance of the crediting method also impacts the policy : interest rate crediting , indexed crediting and separate sub account crediting or debiting , i.e. you could lose money .


Input: How Much Is Gerber Life Insurance?

Output: Gerber Life Insurance Company carries a number of different types of life insurance plans . Therefore , the cost will vary depending on the type of policy , as well as the age of the applicant . You can go to the Gerber Life website to get a quote for the plan that you choose . Keep in mind that there are other No Exam life insurance policies that can be compared to Gerber 's prices to be sure that you are getting the best deal .


Input: What Are The Best Life Insurance Policies?

Output: That is a great question ! The answer though , really depends upon what you want the policy to do for you . If you need it to cover a debt , like a mortgage , or college loans , or to increase your coverage while your kids are small , then maybe a term policy is the way to go . If you want to be certain that you are covered no matter how long you live , or think that one day you might need to access some quick , no questions asked cash , then maybe a whole life policy would be better . I 'd really need to talk to you and get more information before I could tell you for certain . I do appreciate you asking though !


Input: What Are The Best Life Insurance Policies?

Output: The best life insurance policy is the one that is in force and will pay the death benefit on the day that you die . You will never get a better deal than that . If you know what day that will be we might be able to save a few dollars by selecting a policy that would expire the following day but not many of us have that prerogative .


Input: What Are The Best Life Insurance Policies?

Output: The best life insurance policies are the ones that work best for peoples ' needs . All life insurance policies pay upon death , but there are many differences beyond that . Some are designed to accumulate cash value that you can use for expenses later in life , or that will pay your premiums later . These are permanent policies that , if properly managed , will pay out when you die , or at age 100 , whichever comes first . Some are designed to simply pay if you die within a certain number of years . They have no cash value and if you pass away after the term ends , you are not covered . Some are in between . They are n't designed to earn lots of cash value , but they are set up so that they will not end before death , even if you would live to be over 100 years old . If you want a policy to pay for your funeral expenses , the best policy for you is probably one of the permanent policies . If you want a policy that to cover your mortgage that should be paid off in 15 years , you may find 15 year term life insurance to be your best choice . If you have a combination of needs , you can even get a combination of policies . A good life insurance agent can sort through the options to find the life insurance that is best for you .


Input: Does Renters Insurance Cover Tornado Damage?

Output: Damage caused to your personal belongings in your place of residence covered by renters insurance caused by a tornado typically would be covered less your deductible up to the policy limits . To know what coverage is offered by your policy and what exclusions there may be , please read your policy completely or contact your local agent to have them go over the policy with you .


Input: Does Renters Insurance Cover Tornado Damage?

Output: Great question ! I sincerely hope that you are n't asking because you have had that happen to you . In most cases the damage should be covered , but you will want to ensure that it is by reading the exclusions , but again , it usually is covered . If I can help in any way , please contact me . Thanks for asking !


Input: Does Renters Insurance Cover Tornado Damage?

Output: In the event of a tornado your renters insurance should typically provide coverage for your personal items less your deductible . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: My daughter was diagnosed with scoliosis and I have Aflac insurance. Can I receive benefits?

Output: The first answer would be `` no '' as these policies are for the named insured . That said , without seeing what you 've purchased from Aflac , I ca n't for certain say `` no '' . It will depend on what policies you have taken out and what triggers a payout . If you 've insured your daughter under any policy , it would n't hurt to call the carrier and ask the question .


Input: My daughter was diagnosed with scoliosis and I have Aflac insurance. Can I receive benefits?

Output: I will assume that your daughter is covered as a dependent under your AFLAC policy . AFLAC is not major medical health insurance , it is a supplement to major medical insurance designed to pay directly to the policyholder as opposed to a health care provider . AFLAC 's policies are designed to deal with specific types of situations such as a critical illness -LRB- which they spell out specifically what conditions qualify as a critical illness -RRB- , cancer , short term disability , hospital indemnity plans , accidents and life insurance . Other than the slight chance of a short term disability policy coming into play or some aspects of a hospital indemnity policy if your daughter was covered and met the contract terms for being hospitalized and/or disabled , I do not believe there will be circumstances where an AFLAC policy would pay out for a person diagnosed with Scoliosis .


Input: My Husband Just Broke His Arm, Can I Get Insurance To Cover It?

Output: Is this a serious question ? Really ? Insurance -LRB- in general -RRB- is designed to protect you and `` put you back in relatively the same place you were BEFORE an event happened -RRB- for UNSEEN incidents . Since the arm is already broken , the event has already taken place ... so , you CAN NOT purchase insurance that would cover the broken arm . Put another way ... would you want to insure your house if the kitchen was on fire ? Of course not . What if a tornado was coming and on the ground ... would you want to insure the mobilehome ? You can buy insurance now to protect his OTHER arm , but , I 'm afraid this one is on you .


Input: My Husband Just Broke His Arm, Can I Get Insurance To Cover It?

Output: Short answer ? no . But because we need 50 words to answer questions , this should be used to discuss what happens if this does occur and it does all over the country every day . A hospital will treat a broken arm , but it will also `` bill '' for a broken arm so it becomes a matter if the person can afford to pay the cost of the service . While we read about hospitals `` writing off '' care every day , understand that if you have the ability to pay , you will , or you will be subject to any other item you fail to pay on . This means collections and garnishment of wages is a real possibility . If you are in this situation , talk to the hospital billing department and see what they will work with you on . Many will set up billing plans and work with you , but you never know . Insurance takes care of the unknown , that is the whole idea behind it . While rolling the dice and going without may seem profitable , it just takes one situation to wipe out any savings and possibly take everything .


Input: What Can I Do If I Am Turned Down For Life Insurance?

Output: If you are turned down for life insurance , a good first step is to find out the reason for the decline . That will help you know if it is something that can be appealed or corrected , or give you solid information to take with you when looking for another policy . A good impaired risk agent can be of immense help after a decline .


Input: What Can I Do If I Am Turned Down For Life Insurance?

Output: The life insurance industry is a huge segment of the financial sector with hundreds of companies that compete for business . A declination from one carrier may not be a declination for another . After a declination It 's prudent to shop for life insurance companies that are known impaired risk carriers . And keep in mind that you can always shop simplified or guaranteed issue if conventional underwriting fails .


Input: How To Get Health Insurance To Pay For Rhinoplasty?

Output: Rhinoplasty , or a `` nose job '' as most people know it , is standardly classified as a cosmetic procedure . Just because you want to look more like Paris Hilton or Brad Pitt is not a medical problem -LRB- it may be a sign you have some other problem but not a medical one -RRB- . Cosmetic surgical procedures are rarely covered by health insurance plans and whenthey areit is generally for a reconstructive purpose after a illness or injury . Patients who go to their doctor and present themselves with a serious breathing problem associated with their nasal cavities and who get a determination of medical necessity may get approval from their health insurance carrier for surgery to correct the breathing problem . And , as a side effect of this surgical procedure they may get what amounts to a nose job . People and some physicians do game the system with this approach and you should anticipate having to clear a pretty high bar for your health insurance carrier to approve this procedure .


Input: Who Sells The Cheapest Term Life Insurance?

Output: This is a very subjective question . There is no one company who has the most affordable rates . There are just too many factors involved to narrow it to one company . Depending on policy type , age , location , build , health status , lifestyle , face amount and terms it can vary between husband , wife and child . I recommend using an experienced independent broker to professionally shop the market to find you the best rate for your unique situation .


Input: Who Sells The Cheapest Term Life Insurance?

Output: The real question is who can give you the lowest rate for the highest coverage , right ? Our brokerage provides Living Benefits , which is something new to the industry . Life insurance can now be bought with no need to die to get paid ! Life insurance can cover disability , chronic care , chronic illness , terminal illness . Through PFA and written by National Life Group and Life Insurance of the Southwest , the rates are lower and the coverage includes many other benefits at no extra charge . Love to help you . Thank you . GARY LANE .


Input: Who Sells The Cheapest Term Life Insurance?

Output: If you have excellent health , you will get the cheapest term life insurance by using a company who prides themselves on having the best `` preferred '' rates . If you have poor health , your best rate may not be term at all , as not many companies offer term life insurance to those with poor health . I use the above examples to show how there is no one life insurance company that offers the cheapest rates for everyone . Contacting a broker will help you find the most affordable rate for you .


Input: How Does A Car Insurance Quote Work?

Output: In California the auto quote is based on the declarations of the car owner . If the underwriter determines that the drivers record doesnt match the declarations , or that the car doesnt match the declarations they either adjust the premium or decline the car . The presence of a quote doesnt obligate the insurance company to provide the coverage at the price quoted . It is an indication based upon the declarations given .


Input: When To Use Irrevocable Life Insurance Trust?

Output: An Irrevocable Life Insurance Trust takes the value of the policy out of the estate of the policy owner , and makes the trust the owner of the policy . So you may want to use an ILIT when it is so important to you to protect the value of that policy , that you are willing to turn it over to someone else to control . Some times when this might be appropriate are when your estate goes over the exempted limit for inheritance or estate taxes when the life insurance proceeds are added into the value of your estate , or if you want to protect your policy from paying nursing home costs -LRB- but the ILIT would have to be set up years ahead of that event -RRB- .


Input: When To Use Irrevocable Life Insurance Trust?

Output: There are many scenarios when the use of an irrevocable life insurance trust can be helpful . As the name says , it 's an irrevocable trust . Once the grantor contributes an item to the trust -LRB- e.g. life insurance death benefits -RRB- , they can not make any changes to the terms of the trust or take anything back out of it . It 's commonly used for estate planning purposes . When an ILIT is the owner and beneficiary of a life insurance policy , the death benefits wo n't be included in the calculation of the gross estate of the insured - when life insurance is paid to an individual , they are included in the insured 's taxable estate . Another common scenario is to control how proceeds are distributed to minors , or in some cases a financially irresponsible adult . For example , you have an individual who is not yet a legal adult and stands to inherit a substantial amount of money from the death of the insured -LRB- e.g. parent -RRB- . An ILIT can be set up to have a percentage paid out at age 21 , then another percentage at age 25 , and the rest at age 30 -LRB- or whatever alternate payout structure is desired when the ILIT is set up -RRB- .


Input: How Much Is Car Insurance For A 16 Year Old In Florida?

Output: Like other States , Florida auto insurance pricing depends on many factors , including coverage limits ... which is a major item to consider . Too many people buy minimum or low limits of liability coverage which really covers a policyholder for very little , in the event of an even a two-car at-fault accident . In the first year of driving , for a new driver ... aged sixteen or seventeen , you will find that statistically , they will be involved in an at-fault accident . Though cost is obviously a huge factor in many families , the exposure warrants a hard look of consideration for purchasing relatively high limits of liability insurance . Call several independent agencies in your area for more specifics and some pricing quotes at different coverage limit levels . They will help you decide . Keep in mind your exposure . If someone gets seriously hurt as a result of an at-fault accident , should the insurance limits of liability be exceeded , you could be paying out-of-pocket for the rest of loss . It has ruined people financially . Answered on October 11 , 2013 WEBSITELINK WEBSITELINK


Input: Should I Buy Long Term Care Insurance In This Economy?

Output: Should you buy long-term care insurance in this economy . The most important factor is `` your '' economy . That is , if your business is insulated from some of the recent economic problems we have been facing , it should not have as big of an impact on your decision compared to most others . However , if you are concerned about your income in the next 5-15 years , this should be taken into account . Of course , you can always start with a lower amount of coverage to keep premiums lower .


Input: Is Health Insurance Exempt From Social Security Tax?

Output: Social security taxes are collected through payroll deductions and appear on your pay stub as FICA . Both employees and employers pay the tax based upon a percentage of income . The percentages change as income increases . Group health insurance premiums funded by employers do not count as income , and are not subject to FICA taxation . Employees typically elect to pay their portion of healthcare premiums using pretax elections , which reduces reported income and the amount of FICA taxes paid .


Input: Which Is The Best Life Insurance To Have?

Output: The best life insurance policy to have or to purchase is the policy that meets the needs of your specific goals at the best price in the market . I highly recommend using an experienced independent life insurance broker that represents more than 10 carriers to professionally shop the market to find that best plan at your best rate .


Input: Which Is The Best Life Insurance To Have?

Output: The best life insurance policy is the one that is in force on the day that you die . If it expired the day before it was an expensive mistake . The cheapest is probably the policy scheduled to expire the day after you die . Since few of us know when we will die , we probably need to plan to have coverage over the time frame that covers our obligations . Many of those obligations might be on-going in which case permanent insurance is the best policy .


Input: How Much Does Health Insurance Cost At Age 62?

Output: It varies from person to person . Your age , where you live , if you use tobacco products , and if you qualify for a subsidy to reduce your premium will determine how much a good policy is going to cost . Under the Affordable Care Act , you have the options for bronze , silver , gold , and platinum level plans -LRB- as you go up in metal , the price goes up , but provides better benefits -RRB- - some areas also have a catastrophic plan available . In addition , your age is a big factor as well . The younger you are , the cheaper your premium - the older you are , the higher your premium . Also , if you use tobacco products , your premium can be increased up to 50 % as well . All of the plans offer good coverage . A silver or gold plan are your middle of the road type of plans because they provide strong coverage at an affordable price . I always recommend consulting with an experienced health insurance broker before you apply for anything . We can help you determine the plan that 's going to be most suitable for your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: How Much Does Health Insurance Cost At Age 62?

Output: There is no single answer to your question . Health insurance rates will vary depending upon your state of residence , the health insurance carrier you are looking at , the health insurance plan you are considering and quite probably your tobacco use status . With those things said , for a person at age 62 enrolling in individual health insurance you should not be surprised to see rates in the $ 400 to $ 800 per month range as just general ballpark estimates .


Input: Can I Apply For Life Insurance While Pregnant?

Output: You can still get Life Insurance while pregnant . Talk to your agent about how to go about doing so . They will know what carriers might be more open to writing a policy . Other factors will play like health history , height and weight , and is this a high risk pregnancy .


Input: Can I Apply For Life Insurance While Pregnant?

Output: Yes , you can apply for life insurance while pregnant . Some companies will restrict issuing life insurance to the first one or two trimesters , but it can be purchased in all three trimesters as long as weight and other health factors meet the qualifications to be approved for a policy .


Input: What Is Auto Insurance Comprehensive Coverage?

Output: Comprehensive otherwise known as Other Than Collision : This optional coverage is selected by the insured and is indicated on the Declarations Page . It pays the insured for any direct loss of or damage to the auto if the loss is caused by : a. Missiles or Falling Objects b. Fire c. Theft or Larceny d. Explosion or Earthquake e. Windstorm f. Hail , Water or Flood g. Malicious Mischief or Vandalism h. Riot or Civil Commotion i. Contact with Bird or Animal j. Breakage of Glass


Input: What Is Auto Insurance Comprehensive Coverage?

Output: There are two types of physical damage coverage available for an automobile . The first is collision which covers the damage that is the result of an accident . The second is comprehensive which covers any other damage to the vehicle . Striking an animal is a comprehensive loss not a collision loss .


Input: Why Is Life Insurance Important For Employees?

Output: If the employee is a `` key person '' in the business , it can be very costly for a business to lose him/her . The time spent in finding and training a new employee could put the business under . So providing life insurance that pays the business in the event that a key employee passes , can be extremely important . Some businesses provide group life insurance for all their employees . Rather than the death benefit going to the business , it is paid to employee 's family in the event of his/her death . This is a benefit that might draw good employees to apply or stay at a certain business , which is an important part of running a profitable business . It also can be very meaningful to the employee 's family if death occurs .


Input: What Is Renters Insurance Coverage?

Output: Renters Insurance is available from a variety of insurance companies that offer this valuable protection for tenants . It is a form of homeowners insurance for tenants ; the policy contract may provide for personal property and personal liability . The coverage is inexpensive and fluctuates depending on coverage amount requested , deductible requested and geographic area . Most recently , the coverage has become most valued by those who have been accused of negligence thereby causing water damage , fire damage , smoke damage and other possible acts of negligence ; in this case , the liability portion of the policy will defend the insured and pay out up to the maximum limits afforded by the policy . It is important to note that in some States where the courts have been inundated by law suits regarding tenant issues , all lease contracts are required to include an insurance clause thereby requiring the tenant to provide insurance . We do have a short cut link for those that may seek a quote or wish to buy a policy directly online : WEBSITELINK


Input: What Is ROP Life Insurance?

Output: ROP life insurance stands for Return of Premium life insurance . ROP life insurance will return the premiums that you paid , if you hang onto the policy to the end of the term . Some policies will return part of the premiums if you keep the policy a certain number of years -LRB- usually at least half the term length -RRB- . If death occurs before the term ends , the policy pays the normal death benefit .


Input: Who Can I Add To My Car Insurance?

Output: Typically insurers will allow you to add licensed individuals such as : children , spouses , domestic partners , other residential drivers etc. . If you fail to add someone who should have been rated on the policy that can pose some significant issues . When in doubt contact your agent and ask him or her about what you have in mind . Insurers typically like to have persons who drive the vehicle added to the policy for two reasons 1 -RRB- it helps establish an adequate pricing level and 2 -RRB- it allows them opportunity to monitor their driving behavior . One other thing to consider is when you hand over the keys to someone else , you are generally creating permissive use . Make sure of two things , 1 -RRB- the person who will drive has a valid drivers license and 2 -RRB- they do not appear to be in any form impaired by drugs -LRB- illicit or prescription -RRB- or by alcohol .


Input: Will Medicare Part B Pay For Shingles Vaccine?

Output: Medicare Part B does not cover the shingles vaccine . It ` sgenerally covered under your prescription coverage . Medicare Part D stand-alone prescription drug plans will generally cover vaccine shots needed to prevent illness such as the flu shot or shingles shot . Please feel free to contact me for help . Thanks very much .


Input: Can I Get Life Insurance If I Have Lupus?

Output: Almost all people with lupus are able to get some type of life insurance policy . Mild , well controlled , systemic lupus alone should not keep you from getting any amount for which you are financially qualified . If you have had recent flare ups , are on steroids , or have complications from your lupus , you may need to take a nonmed policy . There are some no exam policies that do not ask about lupus , and that have reasonable rates . Contact a good impaired risk life insurance agent that carries lots of choices for those with health conditions , and you should be able to get affordable life insurance while having lupus .


Input: Can I Get Life Insurance If I Have Lupus?

Output: Video Transcript : Can I get life insurance if I have lupus ? Well , it depends upon some of the answers to these questions . The first is , I need to know the date it was first diagnosed . And then , what type of lupus was diagnosed ? Was it systemic ? Was it discoid lupus or drug induced SLE ? I 'll also need to know , is it in remission , or is it currently present ? Then I need to go through this checklist . Do I have low blood count , neurological disorders , protein issues , high blood pressure , lung involvement , heart involvement , renal insufficiency or failure altogether ? Is the insured taking any medications ? All these areas will give us an idea of how to price and get an offer from a specific carrier that is really benevolent in their underwriting when it comes to lupus .


Input: Who Sells Mortgage Life Insurance?

Output: The lender that provides your home loan is typically the vendor that sells mortgage life insurance to you , as well . When death occurs , the lender is paid the benefit of the policy , so that their portion of your loan is paid off . Life insurance can be used to cover a mortgage , however . It is more competitively priced than mortgage insurance and the death benefit does not decrease as your loan decreases . The beneficiary is the person of your choice . They can use the money to pay off the mortgage , or else spend it on other things if it makes more sense to keep the mortgage .


Input: Does Medigap Cover Dialysis?

Output: Medigap plans pay for Medicare approved dialysis . Medigap plans are supplements to Medicare , so any claim approved by Medicare Part A or Part B is a covered expense under your Medigap plan . Medicare covers inpatient and outpatient dialysis when treatment is administered in a Medicare approved facility . A good Medigap plan such as F or G will lighten the financial burden of dialysis .


Input: Does Medigap Cover Dialysis?

Output: Medicare supplements , also known as Medigap policies work in addition to your basic Medicare A and B coverage . Anything that is covered by either of those can then be applied to the Medigap plan to pick up some or all of the remaining costs . Inpatient dialysis is a Medicare A procedure . Outpatient or home dialysis options are covered by Part B . This does not include any costs for home health aides , lost wages , housing or blood supplies not included in the doctors visit . Depending on your Medigap policy , some of these may be covered . Your Medigap policy handbook will tell you if your plan covers these additional costs .


Input: Does Medigap Cover Dialysis?

Output: Medicare supplements , also known as Medigap policies work in addition to your basic Medicare A and B coverage . Anything that is covered by either of those can then be applied to the Medigap plan to pick up some or all of the remaining costs . Inpatient dialysis is a Medicare A procedure . Outpatient or home dialysis options are covered by Part B . This does not include any costs for home health aides , lost wages , housing


Input: Does Medigap Cover Dialysis?

Output: Kidney dialysis is a Medicare Part B service . If you have End-Stage Renal Disease -LRB- also known as ESRD -RRB- , Medicare will -LRB- generally -RRB- coverthree dialysis treatments per week . You pay 20 % of the Medicare approved amount , and the Part B deductible applies . This is where your Medigap Plan will help cover some if not all of the remaining costs . Medigap Plan F will pay the remaining 20 % of the Medicare approved amount and the applicable Part B deductible . You pay $ 0 . Medigap Plan G will pay the remaining 20 % of the Medicare approved amount after you have paid/met the applicable Part B deductible . You pay , at most , $ 147 -LRB- Part B deductible in 2014 -RRB- . Medigap Plans A , B , D , M will pay the remaining 20 % of the Medicare approved amount after you have paid/met the applicable Part B deductible . However , you are also responsible for Part B Excess Charges , so you may end up paying more than the Part B deductible -LRB- $ 147 in 2014 -RRB- . Medigap Plan Cwill pay the remaining 20 % of the Medicare approved amount and the applicable Part B deductible ; however , you pay for any Medicare Part B Excess Charges . Medigap Plan Hi-F will pay all Medicare approved amounts after you have met/paid the $ 2,140 deductible -LRB- 2014 -RRB- . Medigap Plan Nwill pay the remaining 20 % of the Medicare approved amount after you have paid/met the applicable Part B deductible -- except for a copay of up to $ 20 for some office visits . You are also responsible for paying Medicare Part B Excess Charges . In regards to Excess Charges , this is what you are charged above the Medicare approved amount if the doctor , provider , or supplier does not accept Assignment . If a provider does not accept Assignment , they are telling Medicare that they do not agree to accept the payment amount Medicare approves for the service -- this is how you can get billed for Part B Excess Charges .


Input: What Disabilities Qualify For Disability Insurance?

Output: Other than an exclusion of a certain type of disability in the policy , if you have been medically diagnosed with an injury or illness that keeps you from performing the duties of your current occupation then you should become eligible for benefits . Please keep in mind that your policy is still subject to elimination periods before you actually receive payments . Most good policies do pay from day one on the day of eligibility in a lump sum . For example , if you chose a 90 day elimination period for $ 5,000 per month , you will receive $ 15,000 on the 91st day . I wish you a speedy recovery .


Input: What Disabilities Qualify For Disability Insurance?

Output: Determining whether a disability will qualify you for a claim depends upon the policy 's `` definition of disability '' . It 's not something where one type of disability is covered and another may not be just because it 's a different kind . It 's about whether your specific disability is covered under policy 's definition of disability . The definition of disability is the most important factor under any disability insurance policy . A disability insurance policy will have 1 of 3 definition options -LRB- varies by carrier - some may only offer one definition , others may offer more than one as it would then depend upon type of disability policy being set up -LRB- e.g. long-term vs. short-term , group vs. individual , etc. -RRB- -RRB- - 1 -RRB- True Own Occupation , 2 -RRB- Modified Own Occupation , and 3 -RRB- Gainful Occupation . True Own Occupation is the most desirable definition you can have on a disability policy . This says that you are considered completely disabled if -LRB- due to injury or sickness -RRB- you are not able to perform the duties of your job , EVEN IF YOU ARE WORKING AT ANOTHER JOB -LRB- this last part is key ! -RRB- . Modified Own Occupation is the most common definition that policies offer in today 's marketplace . Under this definition , you are completely disabled if -LRB- due to injury or sickness -RRB- you are not able to perform the duties of your job , AND ARE NOT WORKING IN ANY OTHER JOB -LRB- again , this last part is key ! -RRB- . Gainful Occupation is typically seen in group disability policies and policies offered by property and casualty companies that offer disability policies . This definition is the most stringent saying that you ca n't work in your own occupation and unable to work in any gainful occupation for a period of time -LRB- e.g. 12 months , 24 months , etc. - can vary by company -RRB- . Also , whether you want to buy a short-term disability policy or a long-term disability policy is important too . You can have a combination of both . I would recommend reviewing your needs and goals with an independent agent who works with multiple carriers and can help determine the program structure that will best serve your needs because disability policies are very customizable as there are a number of additional options to choose from that affect the rates . It 's not a `` just pick and choose who has the lowest rates '' type of insurance - you really want to make sure you 've got the right coverage for what you 're trying to accomplish . 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 Disabilities Qualify For Disability Insurance?

Output: Just a quick note as I read another post and need to clarify an incorrect statement regarding elimination periods . YOU are NOT reimbursed for your choice of elimination period . If you choose a 60 day elimination period , your benefits start on the 61st day and payment is usually made on the 91st day and monthly there after . You are not compensated for your choice of elimination period . The elimination period is like choosing your deductible on your health , home or auto insurance . It is the time you are willing to self insure your situation . You are not compensated for your choice of elimination period . Your choice of elimination period effects your premiums .