Input: What Is Commercial Auto Insurance Used For?

Output: A commercial auto insurance policy is a policy that is typically used for a business with vehicles titled in the company 's name . A commercial auto policy is typically priced differently than a residential auto policy due to the difference in the risks . Please contact a local agent to find out more about availability of coverage and pricing in your geographic area .


Input: What Will The Life Insurance Industry Look Like In 2020?

Output: With low interest rates beginning to rise and life insurance industry sales flat , there will be a concerted effort to consolidate companies , so acquisitions will dominate the insurance industry for next 5-7 years . Although competition will be reduced by acquisitions , those carriers that remain will force the market to new levels of competition that will play a role in the continuing decline in life premiums accelerated by new frontiers in life expectancy . Look for a new CSO mortality table before 2020 . The tax advantages of life and annuities will continue through 2020 as the industry continues to be the only reliable industry to purchase government debentures .


Input: How Do I Qualify For Medicare In Michigan?

Output: To qualify for Medicare in Michigan , you must be age 65 and have paid into Medicare taxes for at least 40 quarters , or be/have been the spouse of someone who did . Disabled persons may qualify for Medicare after two years of receiving Social Security benefits . There are other situations where someone in Michigan may qualify for Medicare , such as having ESRD , ALS , being railroad worker , being a government worker , etc. . See Medicare.gov for the fine tuned details .


Input: How Do I Qualify For Medicare In Michigan?

Output: For most people , when they turn age 65 in Michigan they will get Medicare Part A & B automatically . If you are still working you will want to speak to your benefits department to see if you should postpone your Medicare Part B while you are working . Once you activate your Medicare Part B and turn 65 that gives you an open enrollment period so you can choose any Medicare Supplement you like without health underwriting questions . We have helped many people in Michigan compare benefits between employer and what 's available in the market . Often times you can get equal to or more comprehensive coverage for less money . Medicare along with a Medicare Supplement is great health insurance . Working with an independent agent will save you a lot time and help you look at everything that is available to you . It will make the process seem much less complicated having a professional to help compare whats available . You can Compare Michigan Medicare Supplement Plans instantly on our website at SummitMedigap.com . You can also give us a call at 1-888-407-8664 .


Input: What Kind Of Auto Insurance Do I Need?

Output: You need the type of auto insurance that will provide the specific benefits that you are required to have at the lowest possible cost . However , keep in mind that stat minimum limits are simply a benchmark of coverage so you can comply with the law . If you can afford higher limits , they should be strongly considered . If you have an older vehicle , of course , you will not need collision coverage which will help your premium . You may decide to eliminate comprehensive coverage as well . Specialty or antique vehicles will require special policies or riders . Shopping and comparing will help you find affordable car insurance from top-rated companies . Yes , there are a few dozen very reputable carriers and doing the research is not fun . Experienced brokers and reputable websites can save you time and money . There is no fee and the level of expertise and unbiased help is high .


Input: What Kind Of Auto Insurance Do I Need?

Output: That is a very open ended question . If you have loan on your vehicle or if the vehicle is less than 10 years old , I would recommend Collision , other than collision , rental car reimbursement , and towing in addition to the base coverages -LRB- which typically are bodily injury , property damage , uninsured motorist , and under-insured motorist -RRB- . Additional coverage may be appropriate depending on your situation . Please contact a local agent to discuss you needs and wants for coverage so that they can provide you with information about what they have to offer .


Input: When Is Life Insurance Unnecessary?

Output: Life insurance is unnecessary if you are able to fulfill your financial goals , and meet the needs of your survivors , without it . However , the tax advantages of life insurance can free up more funds to meet your goals and provide for your loved ones . So while life insurance may be unnecessary , it still may be purchased for its cost effectiveness , tax friendly nature , and the personal touch it provides .


Input: When Is Life Insurance Unnecessary?

Output: If you have no family members , business associates or charitable organizations that depend on you for anything , the life insurance may not be for you . If you have no desire to save for retirement in a tax advantaged way where distributions may be free and not trigger taxation of Social Security benefits , then life insurance may not be for you .


Input: Where Can I Get Free Health Insurance?

Output: Unless you qualify for Medicaid there is no such thing . Health Insurance , even under the Affordable Care Act is not free . Even Medicaid is paid for by someone . Starting in October , you will be able to enroll in one of the Marketplaces that will be set up and you may qualify for a government subsidy that may pay all or most of your premium . Health Insurance is never free .


Input: Can A Term Life Insurance Policy Be Converted Into A Long Term Care Policy?

Output: No , because life insurance is legally different than long-term care insurance from a state regulation perspective . But ... many life companies are now offering in some states what 's known as `` living benefit riders '' which are a liberalization of the old `` accelerated death benefit '' riders . The new living benefit riders essentially permit a pre-death cash payout of some amount of the life insurance policy amount if you become what 's called `` chronically ill . This generally means unable to perform 2 of 6 daily activities of living . Bottom line ? Pre-death cash payouts from such riders can be used for long-term care , medical care or any purpose . We now recommend these riders to every life insurance applicant because they can provide a lifesaving injection of cash to a family in need and are an alternative to costly long-term care insurance . Best of all , they are free or cost only very little extra .


Input: Can A Term Life Insurance Policy Be Converted Into A Long Term Care Policy?

Output: Term Life Insurance can sometimes be converted to help pay for long term care expenses through a program called Long Term Care Benefit Plan . The same is true for Whole Life , Universal Life , and Group Life Insurance . When someone is applying for Medicaid , they may find that their cash value policy has too high a face amount , and must be surrendered . Others facing the need for long term care may have Term coverage they no longer need . The Long Term Care Benefit Plan uses a formula of the face amount of the policy , the premiums being paid , and the health care needs of the policy owner to determine how much can be paid monthly to the institution or person providing that care . It also allows a small percent of the death benefit to stay in effect for funeral costs . The conversion does not change your Life Insurance to Long Term Care Insurance . Rather , the money is placed into an irrevocable account that is professionally administered . Long Term Care Benefit Plans are legal in all 50 states , and can be used with policies that have been in force over two years .


Input: Can A Term Life Insurance Policy Be Converted Into A Long Term Care Policy?

Output: Great question ! Unfortunately , those are two entirely separate kinds of vehicles . Think of it like trying to convert an apple into an orange . To convert your term policy to a whole life , that you could do , and vice versa . But I do n't know of a single company that will convert from one vehicle to a different class of vehicle . If you would like more information , please contact me . Thanks for asking !


Input: Can A Term Life Insurance Policy Be Converted Into A Long Term Care Policy?

Output: In Canada , you can not convert your term life insurance policy into a Long Term Care Policy . However , some critical illness and disability policies allow conversion . The amounts allowed without having to submit proof of instability could be as much as all of the critical illness policy or up to a specified maximum for the disability policy . The conversions are are allowed usually within an age for example 55 to 65 range and vary by company . 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: Why Have Medicare Supplemental Insurance?

Output: Original Medicare -LRB- Parts A & B -RRB- only cover about 80 % of a senior 's health care expenses , leaving the insured responsible for the other 20 % . While 20 % does n't sound like a very big figure , it can add up to a nice big medical bill really fast . For example , if you had a procedure done that cost $ 10,000 and Medicare paid for 80 % -LRB- $ 8,000 -RRB- , you would be responsible for the other $ 2,000 of the bill - how many people can just get out their checkbook and write a check for that amount ? That number can be a lot higher too . The idea of a Medicare Supplement plan -LRB- commonly referred to as a Medigap Plan -RRB- is to cover the gaps in coverage that Medicare does n't pay for -LRB- e.g. that other 20 % -RRB- . You pay a monthly premium to get these gaps covered so you 're not hit with large bills . The resulting major advantage is it allows a senior to create a much , much more predictable health care expense structure - and when you 're on a fixed income , this is vital . A plan F is the most comprehensive Medicare supplement plan available in the marketplace today - plans C , G , and N are very competitive as well . If you have any questions about Medicare supplement plans or would like to review programs available in your zip code , please send me a message by clicking on the `` contact me '' button or visit my profile page for my direct contact information .


Input: Can You Get Medical Treatment Without Health Insurance?

Output: Of course you can , it 's called paying for it yourself . And actually that 's how most Americans paid for their health care -LRB- such as it was -RRB- for most of our nation 's history . Of course today most Americans have grown up in an environment where all of their health care financing has been funneled through a third party such as a health insurance company or a government program and have been disconnected from the concept of directly paying for health care services . Many would argue this is one of the underlying causes of the problems our nation is experiencing with health care costs today . Your doctor would be thrilled to be paid in cash , check or credit card for your office visit and not have to file a claim with an insurance carrier or government agency . In fact , you might find out you would get a discounted charge for paying in cash . An example of this is the growing `` concierge medical practice '' movement where people prepay their physician a fee for access to the doctor 's services . You get your phone calls returned promptly and when you go in to see your doctor he actually spends more than 5 to 10-minutes with you . What a revolutionary idea ! The hospital ca n't turn you away when you have an emergency and must deliver care . However , this does n't relieve you of the financial responsibility for the services you receive and they will bill you and pursue payment . This is obviously the area where the greatest concern for individual health financial risk management comes up . Unless you are very wealthy , self-financing several years of cancer treatment or paying for a heart transplant is out of the question for most people . Even managing a chronic health problem like diabetes , COPD , or psoriatic arthritis can have the person using medications costing hundreds or thousands of dollars per month . So , yes , you can still get medical treatment without health insurance and for many routine health care needs self-financing would probably be more cost effective . However , for the high risk and chronic health conditions a person may be faced with insurance is really a necessity .


Input: Who Has The Best Price On Car Insurance?

Output: As you can tell the insurance market is quite competitive . Eventually the companies are competing for the same group of vehicles to insure . They must pay claims on those same vehicles . The results of this should be that premiums for coverage would be similar . It is mysterious how some auto insurers tout low rates but are attracting the same vehicles to insure . At any given time there are a number of companies that are more competitive than others ; however , this is likely to shift frequently


Input: Is Whole Life Insurance Or Term Better?

Output: The policy in force when you die is always the best policy . Seriously though , it depends on the reason for the insurance . Each case is different . Term insurance is generally for short term needs . To provide extra protection while raising a family , or to cover a mortgage or other debts . Whole life is designed to be there when you die , hopefully at a ripe old age . Sit down with a good independent agent and discuss your personal situation . A good agent will help you find a plan that covers your needs and fits your budget .


Input: Is Whole Life Insurance Or Term Better?

Output: Term life insurance indemnifies temporary economic exposure . Depending upon the age of the insured , term life insurance can protect the beneficiaries of the insured up to 30 years . Term life insurance is the cheapest form of life insurance and should be purchased with a conversion provision to extend coverage if a financial liability either becomes ongoing or a new liability develops . Whole life insurance indemnifies permanent economic liabilities , but in comparison is an expensive approach to coverage . Generally speaking , guaranteed universal life insurance is a cheaper permanent solution . Bottom line term life insurance with a conversion provision is more than likely the affordable deal than whole life insurance .


Input: Why Doesn't Medicare Cover Shingles Vaccine?

Output: Medicare Part A is designed for hospital coverage . Medicare Part B covers physician services . Medicare Part D covers prescription drugs . These coverages are not complete . Supplemental plans are available that are formulated by Medicare to cover the gaps in coverage . The administration of a vaccine would probably be covered if all four of these policies were in force .


Input: Why Doesn't Medicare Cover Shingles Vaccine?

Output: The shingles vaccine shot is generally covered under your prescription coverage . Medicare Part D stand-alone prescription drug plans generally cover vaccine shots needed to prevent illness such as the flu shot or shingles shot . Medicare Part A -LRB- your hospital insurance -RRB- and Part B -LRB- your physician insurance -RRB- do not cover the shingles vaccine shot .


Input: How Long Does It Take To Receive A Check From Life Insurance?

Output: Life insurance companies will tell you to allow one to two months to receive a life insurance check . It can arrive faster , and if there are problems with the address or other kinks , it could take longer . You must first send the life insurance company the claim form and certified death certificate , so consider that in the waiting time before the check is received .


Input: What Do Life Insurance Medical Exams Test For?

Output: Life insurance medical exams test for evidence of heart disease , renal disease , liver disease , blood disease , diabetes , gastrointestinal disorders , and other types of illness . The paramed exam blood and urine tests also look for cotinine , which indicates tobacco use , and for evidence of excessive prescription or illegal drug use .


Input: What Does Medigap Do?

Output: A Medigap policy plugs the gaps that Medicare A & B does n't cover . A person can get a Medigap plan part of what Medicare does not may or they can get a Medigap plan to cover all of what Medicare does not pay . The cost varies depending on which plan a person chooses .


Input: What Does Medigap Do?

Output: A Medicare supplement -LRB- Medigap -RRB- insurance , sold by private companies , can help pay some of the health care costs that Original Medicare does n't cover , like copayments , coinsurance , and deductibles . Some Medigap policies also offer coverage for services that Original Medicare does n't cover , like medical care when you travel outside the U.S. . If you have Original Medicare and you buy a Medigap policy , Medicare will pay its share of the Medicare-approved amount for covered health care costs . Then your Medigap policy pays its share . A Medigap policy is different from a Medicare Advantage Plan . Those plans are ways to get Medicare benefits , while a Medigap policy only supplements your Original Medicare benefits . Medigap policies do n't cover everything ! Medigap policies generally do n't cover WEBSITELINK long-term care , vision or dental care , hearing aids , eyeglasses , or private-duty nursing .


Input: Is There A Tax Credit For Having Health Insurance?

Output: Yes , there are tax credits or premium subsidies available for qualifying individuals and families with a Modified Adjusted Gross Income over 150 % and below 400 % of the Federal Poverty Level . Those with income under 150 % may be eligible for Medicaid . In order to qualify , you can not have an option for Employer Group coverage .


Input: Is There A Tax Credit For Having Health Insurance?

Output: 2015 in California , individuals qualify for subsidy if they are between 138 % and 400 % of the federal poverty level and are not eligible for creditable and affordable coverage elsewhere . Insurance plan needs to be purchased thru Covered California Exchange . As stated above . Businesses may be eligible for a Tax Credit . To qualify , company needs to have fewer than 25 employees . Average employee salary less than $ 50,000 . Excluding owners . Employer pay at least 50 % of health care premium . You will need to offer coverage thru SHOP marketplace . In Califonria , that would be Covered California . The tax credit can be up to 50 % of employer contribution . I was looking for area that i could post 2015 Individual Subsidy Income Guideline that is handy when reviewing options ?


Input: Is There A Tax Credit For Having Health Insurance?

Output: If you earn less than 400 % of the Federal Poverty Level , you do not have access `` affordable '' group coverage , and you purchase health insurance through a state or federal exchange , then you are eligible to receive a tax credit for having health insurance . This credit can be taken in advance -LRB- lowering your monthly premium payment -RRB- or after the fact -LRB- as part of your tax return -RRB- .


Input: Is There A Tax Credit For Having Health Insurance?

Output: Keep in mind that , even if your income is between 150-400 % of the Federal Poverty level , and you `` should '' receive a subsidy , if the second lowest silver plan is deemed affordable you will not receive a Subsidy . So , if the 2nd lowest Silver plan cost is less than 9.5 % of your income then even if you might qualify for a subsidy , you will not .


Input: Is There Such A Thing As Medicare F?

Output: Medicare SUPPLEMENT plan F is probably what you are thinking about . Medicare has 4 parts . Part A is the hospital portion , Part B is outpatient , Part C is Medicare Advantage , Part D is drugs . Medicare supplement plan F pays 100 % of approved Medicare Part A and B expenses that are not paid by Medicare due to deductibles and coinsurance .


Input: Will Medicare Pay For A Wheelchair In A Nursing Home?

Output: Medicare Part B covers DME -LRB- durable medical equipment -RRB- including hospital beds , canes , walkers and wheelchairs . To qualify your doctor must prescribe the devices and you must use a Medicare approved DME provider . Be sure to ask if they accept assignment . The nursing homes I have visited have their own wheel chairs . I am not sure why you need or want Medicare to pay for yours .


Input: How Much Will Life Insurance Cost?

Output: The cost of life insurance is determined by age , gender , whether or not you smoke , if you have a health condition or other risk factors such as imminent travel to unsafe countries , and the type of policy you get . Permanent life insurance will cost more than term , but the rate will never go up , so it can even out . You need to visit a website such as ours that offers free life insurance quotes , or call an agency to find out what the cost would be for you .


Input: Does Medicaid Pay Part B Of Medicare?

Output: Medicaid is a state run program for poor or low income individuals , & Medicare is a Federal program . Part B premiums are deducted from your Social Security generally . Some individuals that have not worked 40 quarters or more during their working careers , may have an additional cost for Medicare . The Medicare program part `` A '' is for Hospitalization , part `` B '' , is for doctor visits , part `` C '' is Medicare Advantage , & part `` D '' is prescription drug coverage .


Input: Who Can Get Life Insurance?

Output: Almost anyone can get life insurance . The only people who CAN NOT get life insurance are those who have serious health problems and who fall outside the age guidelines for guaranteed issue ; those who do not have any income at all -LRB- but even they may be able to get a policy with a cap on the face amount -RRB- ; and in the US , those who do not have citizenship , a green card , or work visa .


Input: What Is The Function Of Health Insurance?

Output: The purpose of health insurance is to protect yourself financially in the event of a catastrophic event . For example , if you have a health insurance plan and broke your leg and needed to have a $ 100,000 surgery , you may only be responsible for a few thousand dollars of it -LRB- e.g. your deductible or coinsurance -RRB- , as opposed to being responsible for paying the entire bill yourself . Many health plans will provide additional benefits as well , such as coverage for preventive care , routine doctor visits , prescription drugs , etc. .


Input: Can You Have A Motorcycle Without Insurance?

Output: In most states , if not all , just like a car , if you have a motorcycle that you want to use on public access roads and highways , the bike will need to be registered and in order to register it , you will need to show proof of insurance . If it is strictly an off road bike , you probably do not have to register it and therefore insurance would be voluntary .


Input: re the rates from agents and insurance companies the same or different?

Output: Insurance Companies develop rates based upon historical risk research and a number of other factors . These rates for whatever product a company offers in a particular state muct be filed and approved by the state Insurance Department . Agents do not develop rates , but they apply needs based factors that ultimately result in the rate we pay for the insurance product we are purchasing . Rates can vary from company to company but not necessarily from agent to agent who is offering the same coverage from the same company .


Input: re the rates from agents and insurance companies the same or different?

Output: That 's a great question ! Many people think that there can be price differences between agents , as they assume that the agents ' profits play a part in the quote . In reality , that 's not the case . The agent has no say whatsoever in the price structure of the policy . The only way company A 's price can be different when quoted to you by two different agents in your town would be if one included riders -LRB- additions to a policy that provide additional protections , but at an added cost -RRB- . Both agents have to use the prices set by the company , and the industry 's regulators . That is a great question , and I 'm glad you asked it . Thanks !


Input: re the rates from agents and insurance companies the same or different?

Output: Rates on life insurance is the same in ever state on a per company basis . However , there are rate differences between companies . For instance , smokers can be treated more favorable by one company or another . Shopping among companies will give you the best chance of getting the best premium but will not necessarily guarrantee the lowest rate until after the client goes through underwriting and is approved under a rate class . Independent agents or brokers like myself can do the shopping and get the best rate possible . If you have any questions or would like at quote please call Ronald G Hinch @ 843-450-9879 or visit my website at www.hinchfinancialgroup.com .


Input: re the rates from agents and insurance companies the same or different?

Output: I am aware of carriers that use different companies in their company group to offer different rates for clients that are not necessarily available to the agency distribution channel . The different distribution develop rate experience that is independent from the other and may rise or fall independently so that rates for one is higher than another . Carriers using multi-channel distribution systems where they write business directly are probably following this model if they also have an agency channel . There are some large carriers doing this and you 'd recognize them if I were to blab . I do n't hate them enough to out them .


Input: re the rates from agents and insurance companies the same or different?

Output: The rate an insurance company charges and an agent charges is exactly the same in all states and all lines . I would suggest using an independent broker who is able to shop multiple companies to find you the best product premium ratio for your needs . Depending upon risk factors , every insurance company has a different premium depending on the product . An independent broker is able to sort through that and find your best option for your unique situation .


Input: re the rates from agents and insurance companies the same or different?

Output: The rate that is charged for a certain life insurance policy , from a certain company , at a certain health rating , will be the SAME even if sold by another AGENT . Rates among life insurance COMPANIES , however , are DIFFERENT . That is where shopping can help , because different companies have better rates for different age groups , health conditions , and types of policies . And that is also where your agent can help you get a better rate . Some agents have more options to offer ; some have more experience ; some understand health conditions or product types better .


Input: How Will Obamacare Affect Long Term Care Insurance?

Output: Obamacare is national mandatory health insurance for all Americans . Presently the health care law does n't address long term care as does Medicaid . Individual long term care insurance is private insurance and at present is not directly effected by Obamacare . It is conceivable that Medicaid could be effected by Obamacare and may have future ramifications for long term care . It 's simply too early to assess the impact .


Input: Can An Auto Insurance Claim Be Cancelled?

Output: This is a very vague question . It can not be answered properly with the amount of information provided . Typically determination of whether a claim is paid or not is solely at the discretion of the insurance carrier . After all the carrier is the one paying the bill . If you have an issue with how a claim is being handled or paid . I would suggest contacting your local agent first and then your carrier , and then if necessary contact your states commissioner of insurance .


Input: How Much Is A Retirement Plan?

Output: That depends on the retirement plan you choose . There is a cost which consist of management fees , taxes , etc. . But you can avoid taxes by using a life insurance savings vehicle for a retirement plan . Have you heard of tax deferral and tax free withdrawals ? Whole life and index universal life insurance polices are great supplemental savings vehicles . There is no specific amount you have to contribute to your retirement savings using a life insurance for retirement .


Input: Can Cancer Patients Get Life Insurance?

Output: Most insurance companies will want you to be cancer free and finished with any treatments for at least two years before you could qualify for an immediate benefit policy . However , you can get coverage if you are still within that two year window but it would be a guaranteed issue policy where it would only pay for accidental death in the first two years and be full coverage after two year waiting period . These policies are more expensive since they do not ask any medical questions .


Input: Can Cancer Patients Get Life Insurance?

Output: Until cancer treatment has been over for at least a year , most cancer patients must rely on guaranteed issue life insurance to get covered . Unfortunately , guaranteed issue life insurance has age parameters , so some persons with cancer are unable to get life insurance during the diagnosis and treatment stages .


Input: Does Obamacare Provide Health Insurance?

Output: Obamacare is a law that dictates how health insurance plans are to be designed for individuals and businesses . If you are not covered under an employer plan you will be required to purchase an `` approved '' plan from a private insurance carrier . Low income people may qualify for Medicaid which is a `` free '' health insurance plan jointly funded with federal and state taxpayer dollars . In a sense , your Medicaid plan could be considered an Obamacare health insurance plan but that is not technically correct .


Input: Does Obamacare Provide Health Insurance?

Output: `` Obamacare '' actually is called the `` Affordable Care Act , '' and is a law that was created that mandates that everyone has access to affordable healthcare . If you have seen the commercials for the Marketplace on TV , that is a website that is administered by the government . It 's purpose is to offer all the qualified health insurance plans from insurance companies who have met the new guidelines , to help consumers apply for subsidy 's , and ultimately enroll them in a new healthcare plan . The government has no financial ties to the insurance company and is not profiting off of this website . The best thing about this new law is that now people who could not access healthcare with decent doctors and facilities are now on a level playing field and can get the care they need . A cancer patient who has had skin cancer for 5 years can see a doctor on a regular basis without wondering if he is going to loose his family home .


Input: Can A Qualified Retirement Plan Provide Protection From The Claims Of Creditors?

Output: There may be general protections , but a divorce decree or qualified domestic relations order could effect the division of retirement assets . The Internal Revenue Service under IRC Section 6331 has the authority to seize retirement accounts to satisfy federal taxes owed by a plan participant in specific scenarios .


Input: Who Is Elephant Car Insurance?

Output: Elephant insurance is a very big company -LRB- no pun intended -RRB- . They are part of the Admiral Group and are slowly expanding here in the US . It is definitely a reputable company that features very competitive prices in many areas . Although they are not yet in most parts of the US , they are rapidly expanding .


Input: How Much Does A Home Security System Save On Insurance?

Output: This varies from company to company I have seen companies offer as low as 5 % for local alarm and as high as 30 % for monitored burglar and fire alarm . I few phone calls to a few independent insurance professionals and your current agent would be a good idea . Sometimes the savings pays for the system .


Input: Does Car Insurance Need To Be In Name Of Registered Owner?

Output: The name of the insured should appear on the policy as a first named insured to avoid some of the obvious complications with lender or leasehold interests . That said , the registered owners name does n't necessarily have to appear on the dec page . Here is why : your wife may be listed as the policyholder but most states recognize the marital relationship as conferring the same legal rights to the unnamed spouse . This may not yet be recognized for domestic partners such as common law relationships or same sex couples . Check with a local agent or your state department of insurance for localized information you can bank on .


Input: Does Car Insurance Need To Be In Name Of Registered Owner?

Output: Here in Connecticut , and I suspect this is true in most states , yes , the Insurance policy needs to be issued in the name of the registered owner of the vehicle . If it is a leased vehicle , then the leasing company will need to be listed as an interested party , but the policy would still list you as the first Named Insured .


Input: What Does EE Stand For In Health Insurance?

Output: `` EE '' is employee benefits shorthand for `` Employee Only '' as the enrollment level for an employee reflected on the group 's census or monthly billing . You can have multiple rate tiers in a group 's census and their employee benefits plan in which the `` EE '' term may appear ; 1 -RRB- Employee Only -LRB- EE -RRB- , 2 -RRB- Employee + Spouse -LRB- EE+S p -RRB- , Employee + Child -LRB- ren -RRB- -LRB- EE+C h -RRB- and , 4 -RRB- Family -LRB- Fam -RRB- being common rate tiers offered at many employer groups .


Input: What Are The Coverage Characteristics For Disability Insurance?

Output: Some of the coverage characteristics for Disability Insurance are elimination period -LRB- how long you would need to be disabled before the benefit would payout -RRB- , percent of income replacement , `` own occupation '' -LRB- this would enable the policy to pay your benefit if you are unable to go back to your OWN job duties vs being able to go back to ANY job -RRB- , residual benefit -LRB- pays if you are unable to get back to 100 % of your prior performance -RRB- , and years of coverage .


Input: What Is An Irrevocable Life Insurance Policy?

Output: Life insurance is personal property . An irrevocable life insurance trust -LRB- ILIT -RRB- is an artificial entity . It is sometimes in the best interest of planning for a life insurance policy to be owner by a third party or a trust . When an ILIT is set up and dated , the trust of the ILIT applies for the life insurance policy as policy owner . The grantor of the ILIT contributes premiums , generally through annual gifting or using the unified credit . When the death of the insured occurs the proceeds are distributed to the beneficiaries of the ILIT .


Input: What Is An Irrevocable Life Insurance Policy?

Output: The term irrevocable means that the policy can not be changed . For example you can have an irrevocable beneficiary or an irrevocable owner . This is common in Medicaid planning utilizing an insurance policy irrevocably assigned to a Funeral or Estate Trust . By assigning the policy to an irrevocable trust , the cash value is no longer considered a countable asset by Medicaid as long as other conditions are also met . There are other reasons for irrevocably assigning a policy to a trust or entity depending on the need .


Input: What Do Life Insurance Actuaries Do?

Output: Life Insurance Actuaries use mathematical and statistical methods to assess life insurance risk . They also use their knowledge of finance and economics to design coverage to meet the long term financial needs of individuals , families and businesses . Rather than just designing policies , today 's life insurance actuaries can be involved in product planning , marketing , risk management , and almost every part of a life insurance company .


Input: What Is Dwelling Extension On Homeowners Insurance?

Output: The term ` Dwelling Extension ' in a homeowner policy is also commonly expressed as ` Other Structures ' . The amount of property insurance listed under Coverage B on your policy is usually 10 % of the amount of insurance you have chosen for the main structure - Coverage A . The Dwelling Extension or Other Structures feature covers all structures that are are either attached to your home , as with a connected garage or otherwise situated on the property , such as separate storage shed , gazebo , etc. . The 10 % can be increased based upon your needs .


Input: Can You Claim Medicare And Private Health?

Output: You can have Medicare and private health insurance , depending on the type of other insurance you have . You can have Medicare and a cancer plan , or hospital indemnity plan , or other ancillary form of coverage . You can have Medicare and employer group health insurance , or retiree group health . Consult an adviser .


Input: Is Critical Illness Insurance Classed As Ppi?

Output: No , Critical Illness Insurance is not classed as PPI -LRB- Payment Protection Insurance -RRB- . With PPI , the person who got the loan may pay extra for protection in case he/she loses his/her job . The PPI policy will make the loan repayments , or possibly even pay off the entire loan or mortgage if the Insured passes away . Critical Illness Insurance will pay the Insured if he/she is diagnosed with a qualifying illness listed on the policy . This payment can be used to pay off loans or used for other expensees .


Input: Does Everyone Need Disability Insurance?

Output: Everyone who has to pay their own bills , or has family relying on their paycheck , probably needs Disability Insurance . Unfortunately , not everyone can qualify for DI due to health reasons or hazardous occupations . But if you can qualify for Disability Insurance , you should probably get it . Being unable to work for an extended period of time due to illness or injury is not uncommon . Being able to receive cash payments from your Disability Insurance policy while being disabled can be a great help .


Input: Does Everyone Need Disability Insurance?

Output: I would say no not everyone needs disability insurance it would depend on how well you handled your finances in the past it would not hurt to have it but does the numbers add up ? In my opinion if you have strong investments it could be a waste but if you do n't then you would need the insurance if you lost the ability to work your occupation . One of the most important factors to ask yourself is do the numbers add up what does your savings account balance look like that will determine in most cases if you need it or not or if you can afford it this is a very good question to ask the numbers must not be fake .


Input: Does Everyone Need Disability Insurance?

Output: No not everyone needs disability insurance . There are lots of wealthy people that make money from residual income sources or investments that will continue to pay them whether they are in good health or not . However , a person that needs to work at a task or job in order to earn a living to pay expenses , disability insurance is an absolute must .


Input: Does Everyone Need Disability Insurance?

Output: If your income is not needed to pay bills , or contribute to the quality of living , or to attain the financial goals of your family , then you may not need Disability Income Insurance . If your income is needed for any of those purposes , then you most likely have a need for Disability Insurance .


Input: Does MetLife Offer Health Insurance?

Output: No , Metlife does not offer health insurance . The Metlife.com website does have a helpful page explaining what health insurance is , and tips on how to pick a good health insurance plan . The main insurance plans that Metlife offers are life insurance , disability insurance , home insurance , and auto insurance .


Input: Can Nursing Homes Take Your Life Insurance?

Output: If you have term life insurance it has no cash value . That would make the answer very simple . No one can take that from you . So your life insurance would remain secure while in a nursing home , if it is term insurance , so long as you can find a way to continue to pay the premiums . The more interesting question is what if you have permanent or cash value life insurance ? These policies build up value , and can actually be sold , or surrendered for cash . A nursing home might want that money . Depending on the nursing home and their contract with you , they might require you to pay them from such proceeds , but there is no legal requirement that you do so for them , and you can , of course , go to a different nursing home . The harder question is what if you have no or little other assets , and are planning to enter a government assisted facility ? Medicare will NOT pay for long term care , but MediCal will , but you will need to spend down your assets . So the question arises , if you are required to spend down your assets , will you have to sell the life insurance policy -LRB- meaning surrender its cash value -RRB- in order to stay in a MediCal nursing home . The answer to that very narrow specific question can change from time to time , as the MediCal rules change . But know that if you wish to claim impoverishment , and you retain ownership of a substantial cash value asset , you should expect the government to demand that you sell it and use the proceeds to pay for your care . Tread carefully . Thank you . GARY LANE .


Input: Can Nursing Homes Take Your Life Insurance?

Output: Nursing homes do not take away life insurance . However , IF you are going on Medicaid because you have depleted your other resources to pay for your long term care , your life insurance will be evaluated to see if it is an exempt asset . Only cash value policies are considered eligible assets , and the amount of face value/cash value that is exempt can vary . If your policy is small enough , you may be able to assign it to a funeral home -LRB- a final expense policy is allowed -RRB- . There is also a regulation now allowing some people to keep part of the death benefit , while using the cash value to pay for their care . To protect your permanent life insurance policy , you could transfer ownership to someone else , but it must be done before the `` look back '' period of 5 years has passed . You could also put it in a trust designed to keep it out of your estate . If you have permanent life insurance policies , talk to a a financial advisor or attorney to assist you .


Input: Which Life Insurance Is Best In New Jersey?

Output: Depend on your situation and goal plus your affordability . It is best to talk to 2-3 local agent and get quote for it so you can find out what best coverage your $ $ -LRB- premium -RRB- can buy for you . Even though some employer offer term life insurance or other type of life insurance it is better to have your own life insurance policy as it is always with you even after change in your job situation . There are lot of options are available from different carrier and you can always select best option based on your unique situation . If you need no obligation free consultancy please write me e-mail I will be happy to discuss with you for your need of life insurance or any other insurance . cjqa2001@yahoo.com Note : I answer based on the knowledge and experience .


Input: Which Life Insurance Is Best In New Jersey?

Output: New Jersey has a number of interesting life insurance options . Many front-line carriers are licensed to operate in this state . This means that you will have available ordinary term and permanent products from name-brand carriers . There are also a number of companies that offer simplified-issue products for people who have serious medical conditions such as cancer or heart failure . Not only that , a number of excess-market underwriting syndicates make products available for exceptional risks , such as people who must travel to dangerous locations as part of their job .


Input: Which Life Insurance Is Best In New Jersey?

Output: The answer will depend on your individual and family circumstances , objectives and resources . If you are a Breadwinner , or a stay at home parent in New Jersey chances are your significant other will be greatly impacted financially due to an untimely death . Some life insurance protection is better than none especially if you have dependents , or loved ones who are relying on your future income . Some options for life insurance in New Jersey are Group Life Insurance which may be offered by your employer , or an industry association . This is not to say group life is the best in New Jersey , it is just one of a few options . Other considerations are individual term life insurance , or permanent life insurance like whole life , universal life , variable life and indexed universal life .


Input: Which Life Insurance Is Best In New Jersey?

Output: There is no one type of life insurance policy , or one particular life insurance company , that is best in New Jersey . Finding your best policy will take into account your health , age , income , the amount of life insurance that you need , and the purpose for your coverage . It may be a good idea to visit with an agency that sells life insurance in New Jersey to find the best policy for you .


Input: How Much Is Car Insurance A Month On Average?

Output: I have seen auto insurance rates range from about $ 30/mo with liability only coverage all the way up to the skys the limit . Your rates are going to vary based on many factors , such as driving record , age , geographic area , coverage requested ; just to name a few . The best thing that you can do is contact your local agent and they will help direct you to a plan that best fit the requirements that your are looking for .


Input: Does Homeowners Insurance Cover Driveway Damage?

Output: A driveway would not typically be covered by a homeowners insurance policy . A homeowners insurance policy typically provides coverage for the main premise and other buildings that are located on the same land parcel as the premise . Please read your policy completely to under the coverage provided and any exclusions that may be contained within .


Input: Why Is Whole Life Insurance A Good Investment?

Output: Whether whole life is a good investment or not depends on how you define a good investment . That being said , it can be a good investment when you look at it closely . Life insurance creates cash at death and whole life is designed to be in force when you die , not if you die within a specified term From an estate planning point of view , that is a good thing , If you need insurance coverage , then the tax advantaged growth of a participating whole life policy can be attractive from a wealth accumulation point of view.The funds can , among other things , be used to supplement retirement income . 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: Why Is Whole Life Insurance A Good Investment?

Output: Whole life is NOT an investment . It is a financial tool , to insure your family 's financial security . Select and buy it based on the quality of the company , their rates , and the variety of features they offer . If you buy whole life , you will accumulate value , both guaranteed , and with a good company well above the guarantee . But rest assured , they will be there when your family needs them the most . That is the investment you are making . Thank you . GARY LANE .


Input: When Will An Insurance Company Total A Car?

Output: An insurance carrier will deem a claim a total loss when the vehicle os inoperable because of damages caused by a covered loss on your policy . Has the claim been adjisted ? Once they determine the loss is a total loss they will make payment and usually require possesion of the vehicle . If we can answer any other questions from you , please call our office . www.perezinsuranceprofessionals.com


Input: When Will An Insurance Company Total A Car?

Output: Most states have a requirement that if the damages exceed a percentage -LRB- usually 70 % to 80 % -RRB- the car must be totalled . I have never heard of a car being repaired `` because of low mileage '' . At what point is the chasis bent and just because a car has low mileage has no bearing on how the car will perform if it is repaired . If the chasis is bent it is to your best interest that love affair ends because the cost of trying to keeptires on a car with abent chasis will keep youin a losing proposition


Input: Who Is The Number 1 Life Insurance Company?

Output: If you are asking the number one life insurance company in the world by size would be China Life Insurance Co. with assets over $ 81 billion . If you are asking the number one life insurance company in the United States would be MetLife with assets over $ 62 billion . If you are asking the number one life insurance company in other categories , look them up under the independent ratings companies that rate insurers in a number of categories . The main ratings companies are AM Best , Standards & Poor 's , Fitch and Moody 's which rates insurers are their financial stability and performance . The best way to find the best life insurance company for your needs is to ask your family , friends and coworkers , who they have and are they satisfied . The same is true finding an independent life insurance broker to help you find the best company , product and price to cover your unique situation .


Input: Who Is The Number 1 Life Insurance Company?

Output: If you are asking the who is the largest life insurance company in the United States , it is MetLife , Inc. . If you are asking which insurance company has the highest rating , there are a number of life insurance carriers that share the top ratings with each rating company -LRB- AM Best , Fitch , S&P , and Moody 's -RRB- .


Input: Does Renters Insurance Cover Stolen Cash?

Output: That 's a great question ! Unfortunately , the answer really is n't . Unless you can prove how much cash was stolen , typically it wo n't be covered . If you have a serial number or a credit card receipt for a tv , you can prove you had it , and what its value was . With cash , there 's typically no way to prove that it made its way from the bank to the robbers pocket , or that you ever had it at all . Insurance companies wo n't give you money for what you ca n't prove to them that you had , I 'm sorry to say . If there is more you 'd like to discuss , please contact me , I 'd be happy to help . Thanks for asking !


Input: What Are Good Health Insurance Companies?

Output: There 's a number of health insurance companies out there . Some of the biggest health insurance companies out there are United Healthcare , Wellpoint -LRB- includes Anthem Blue Cross Blue Shield -RRB- , Cigna , and Aetna . If you have any questions about specific health insurance plans for your program , please feel free to contact me for assistance . I hope the information is helpful - thanks very much .


Input: Can I Register A Motorcycle Without Insurance?

Output: Just like with a car , in most if not all states , one requirement that must be met in order to register a bike for road use is for you to show proof of insurance issued in your state . This is necessary to initially register your ride as well as to maintain that registration .


Input: Will Homeowners Insurance Cover Pool?

Output: In short , the answer is yes . But it needs to be clarified whether you are asking for property damage to the pool itself or liability coverage . Both would be covered barring any specific pool exclusions , which I am not aware of any in the standard market . If someone were to get injured while swimming in the pool , yes , your homeowners policy should cover you for liability . Likewise , if you pool is damaged due to the standard homeowners causes of loss less any standard exclusions then the pool would be covered for property damage to the pool itself . Keep in mind that wear and tear would not be covered under your policy . So if your pool liner rips `` just because '' or the concrete foundation cracks , those would be considered wear and tear . Please note that many insurance carriers are very cautious when writing homeowners insurance on homes that have pools . Some do not like to write them with a pool exposure , some do not mind , so be sure to ask your agent how it might affect your current coverage and future coverage and what the premium impact might be . You also want to strongly consider higher liability limits in purchasing an umbrella or if you already have an umbrella policy then higher umbrella limits . It might cost you $ 150 for each additional $ 1 mil limit . Lastly , if you have a pool and want to make sure you are covered for the proper limits , make sure your coverage B -LRB- other structures -RRB- limit is sufficient to cover any losses to your pool and any other structures i.e. detached garages , sheds as well .


Input: How Much Is Homeowners Insurance A Month?

Output: Homeowners insurance can vary greatly depending on valuation of property , amount of personal property owned , number of buildings on the property , age of the buildings , distance from nearest responding fire department , city or rural location , number of claims on the property , credit score of the proposed insured , deductible chosen and many other factors . In my area I would say that the average rate range is around $ 60 to $ 200 per month .


Input: When Is Life Insurance Awareness Month?

Output: Life insurance awareness month is in September . The life insurance industry developed this awareness campaign to draw attention to the benefits of life insurance for individuals , businesses and estate planning . There are several insurance industry leaders that market the awareness campaign in the public domain to a coordinated effort to gain the attention of consumers .


Input: Is Medigap Required?

Output: This is a great question . Many Medicare Beneficiaries think that the Affordable Care Act -LRB- Obamacare -RRB- requires them to purchase additional insurance to supplement Medicare . The truth is , Medigap is not required . However , many seniors purchase a Medigap policy for peace of mind and long term protection . Without a Medigap policy , you are vulnerable to unexpected health costs that can be detrimental to a fixed income .


Input: How Do You Calculate Universal Life Insurance?

Output: You yourself can not calculate the values of a life insurance policy . But you can order illustrations that will show you those values . You can do so through your agent -LRB- preferable , as your agent may have some ways of illustrating it to show you things you have not considered -RRB- . Or you can order it directly from your life insurance company . Please let me know if you would like assistance .


Input: How Do You Calculate Universal Life Insurance?

Output: Universal life would not exist were it not for the computer . I suppose there are tables that could be accessed but each year the company report will show you what the cost is for coverage and how much is going into cash value . The report will also show you the expected termination of the policy . This information should be sufficient for you to make intelligent choices regarding funding the policy .


Input: How Will Obamacare Affect Medicare?

Output: Obamacare will impact Medicare by reducing the expected rate in growth on Medicare spending by approximately $ 700 billion over the next 10 years and using those savings to help fund Obamacare . It is important to note that I used the term reduced expected rate in growth as this figure has been characterized or oversimplified by some politicians as a $ 700 billion dollar cut in Medicare . These are not the same thing . With that clarification in terminology stated , with the oldest of theBaby Boomer generation already entering their Medicare years the number of people covered under Medicare will increase substantially in coming years at the same time that spending levels on Medicare are being bent down significantly . An increased number ofenrollees from a population that has grown accustomed to getting whatever healthcare they wanted whenever they wanted it at a time when the funding for this increased demand is being deflected downward from previous levels will be problematic to put it politely . Medicare reimbursement levels to health care providers will be further decreased and reimbursement models and approaches are already being changed . Finding physicians who want to accept new Medicare patients has been a growing issue for several years now and this trend has to be expected to increase . First , we have a shrinking supply of physicians to meet this growing demand and treating the Medicare population , which by virtue of their age are higher consumers of health care services , at reimbursement levels that often do n't cover the costs of services rendered are and will force healthcare providers to make some difficult business decisions . The implications for the quality of care and access to care for senior citizens are very serious and I expect this will be a source of much lively political debate in the coming years .


Input: Can I Claim Homeowners Insurance On My Tax Return?

Output: Generally , your homeowners insurance premium is not tax deductible . It could be construed as a business expense if you conduct a business at your residence and have declared that on your income tax . While there might be additional circumstances they would be rare . Incidentally , most companies that issue homeowners policies take a very dim view of business conducted on the premises . The most common exception is private music teachers .


Input: Why Fixed Annuities Are Good?

Output: Annuities can be an extremely useful retirement tool . However they are often sold inappropriately . Fixed annuities arewell suited for providing a predictable income stream overan extended period of time.Every case is going to be different . A fixed annuity in combination with social security and otherinvestments can provide a balanced approach to retirement planning.Before you buy any high dollar insurance or annuities you should consult with your advisors .


Input: Why Fixed Annuities Are Good?

Output: Typically fixed annuities are seen as `` good '' because there is no risk of losing money . A fixed annuity has a established / guaranteed rate of interest . It is possible for fixed annuities to pay a current rate of interest that is normally higher than the guaranteed rate.This possibility makes a very attractive option to pay a guaranteed income for life ...


Input: Why Fixed Annuities Are Good?

Output: An annuity is the only financial instrument that will pay a guaranteed income for the rest of your life . A fixed annuity has an established guaranteed rate of interest . There isnt any risk of losing money in a fixed annuity . Fixed annuities actually pay a current rate of interest which is normally higher than the guaranteed rate . There is a tendency for that rate to mirror market conditions and remain competitive . There are many annuities that have been written where the guaranteed rate exceeds the current rate making them exceptionally good investments .


Input: Will Medicare Pay For A Total Knee Replacement?

Output: Medicare is very comprehensive health coverage for those that qualify . Medicare will cover a Total Knee Replacement as long as the Physician , Hospital , and any other healthcare providers are deemed as providers . You can check each provider out on the Medicare.gov website . Medicare Part A would cover the hospital expenses and if a Skilled Nursing Facility is needed for rehabilitation . You will have a deductible if you only have Medicare A and B . A Medicare Supplement can cover all or part of the out of pocket costs . Medicare Part B would cover the Physician charges and any outpatient services required . You have an annual deductible and 20 % coinsurance . A Medicare Supplement can cover all or part of these our to pocket cost . Medicare Advantage plans have daily charges and copays that vary for every plan . You should check with the plan to confirm that the providers are in their network and determine what your costs might be .


Input: What Company Has The Cheapest Home Insurance In Virginia?

Output: One company that offers excellent rates is Allstate . They offer extra discounts , up to 40 % if you combine your auto insurance with your home insurance . They are highly specialized to review your policies to make sure you are properly insured or covered . There are many discounts for Virginia residents , even discounts based upon age .


Input: What Company Has The Cheapest Home Insurance In Virginia?

Output: When it comes to protecting your biggest asset I would not recommend a cheap policy . As the saying goes `` you get what you pay for '' . Instead work with an independent agent who has access to several different companies . An independent agent will explain the different coverage options and compare rates to make sure you are getting the best value , not the cheapest policy .


Input: How Do Variable Rate Annuities Work?

Output: Variable annuities -LRB- VA -RRB- s are a security under FINRA and an insurance product under the department of insurance . VAs have two account types : the general interest rate account and the separate sub account that uses equity and bond investments . VAs have internal charges that are paid from the contributions of the policy owner and any crediting or debiting of the accounts are applied , i.e. you can lose make or lose money .


Input: Can You Get Life Insurance With Diabetes?

Output: People with diabetes can get life insurance , and there are some ways that you can help yourself get the best price . I made this video for DiabetesDaily.com , a consumer group that supports and educates person with diabetes . It is worth the time to view when looking for the most affordable diabetes life insurance . WEBSITELINK


Input: Can You Get Life Insurance With Diabetes?

Output: Can you get life insurance with diabetes ? Yes , you can get life insurance but the cost is going to depend on how well your control of your diabetes actually is . When I started 25 years ago , diabetes was a quick decline . With the changes in medicine and treatment , diabetes is looked upon on a more individual basis . In other words your good health lowers your cost .


Input: How Much Life Insurance Can I Have And Still Qualify For Medicaid?

Output: This varies by state , but the minimum amount is usually $ 1,500 . Sometimes you read that $ 1,500 of the cash value is exempt -LRB- a noncountable asset -RRB- . Sometimes you read that $ 1,500 of the face amount is exempt during a Medicaid spend down . You can contact your State Medicaid Program to get the criteria for your particular state . This website can help you find the correct phone number . WEBSITELINK


Input: How Much Life Insurance Can I Have And Still Qualify For Medicaid?

Output: That is an excellent question ! This is one of those questions that are really best answered by tax attorneys , and Medicaid experts . That said , there are legal limits , and ways to take money out of the countable pile that Medicaid will look at . There are companies that write funeral trust plans that are in most cases exempt from the limit , but once you 've put your money into one , you can not touch it for any reason but your funeral . Talk to your attorney , and Medicaid people in your State first , okay ? Thanks for asking !


Input: How Do I Know What Health Insurance I Have?

Output: Your policy provides your health plan information - it 'll tell you the carrier name , your policy number , plan details including premiums , copayments , coinsurance , deductible , maximum out-of-pocket expense . If you 're unsure of what you have exactly , you can always contact your health insurance agent to get more information . If you 're looking for new coverage , I always recommend consulting with an experienced broker to make sure that what you have provides good coverage and meets your needs and budget . Experienced brokers will have an in-depth knowledge of products from multiple carriers , can review a wide range of options with you , and help you determine which program will best serve your needs . Please let me know if I can be of further assistance . Thanks very much .


Input: What Is A Medicare Wellness Exam?

Output: A Medicare wellness exam is a yearly visit -LRB- conducted with your physician -RRB- available to individuals who have had Medicare Part B for more than 12 months . Your doctor must accept Medicare and assignment for it to be 100 % covered by Medicare . The purpose of a `` wellness '' exam is to create and maintain a prevention plan to help prevent diseases and disabilities that is customized to you -LRB- based on your current health and risk factors -RRB- . During the exam : 1 -RRB- Your doctor will generally have you fill out health risk assessment -LRB- usually a questionnaire -RRB- during the visit 2 -RRB- Review and update your medical history 3 -RRB- Check your vitals -LRB- height , weight , blood pressure , etc. -RRB- 4 -RRB- Check you for any cognitive impairments 5 -RRB- Provide suggestions to help you improve potential problem health areas 6 -RRB- Create a screening schedule for preventative services Please note , however , any additional services that a doctor conducts or orders , may not be covered by the wellness exam benefits and you might have to pay a coinsurance or deductible depending upon what programs you have -LRB- e.g. Parts A , B , and a Medicare supplement , only Part A & B , etc. -RRB-


Input: How Much Home Insurance Should I Purchase?

Output: Home insurance is one of those necessary expenses that I see most people ` go low ' on . Most people will only insure their home for enough to pay back a mortgage . Problem is , if the home is truly destroyed , you will have to pay more than just the mortgage ! You will have to pay for demolition , debris removal , and rebuilding of your home ! You should purchase enough coverage to not only rebuild the home , but also to pay for all the extras that will come from a total loss : demolition , debris removal , and possibly even re-zoning in building laws . All of this should be taken into account when choosing your Dwelling Coverage . There are also sections that cover your personal property , loss of use payments if you ca n't live in the home for a period of time , additional structures that may be on the property , and liability coverage and medical payments if someone is injured on your property . To get a full evaluation of these coverages , you should call an insurance professional in your area and discuss what you truly need to be covered properly .


Input: How Much Home Insurance Should I Purchase?

Output: There are two major sources for information about limits . The mortgage company is going to direct certain limits . In California the mortgage company can not ask for more coverage than what an estimator renders to replace the property and clean up the debris . The second piece of information is the replacement cost calculator . Most companies today require that the house be insured to full value because they are extending replacement cost coverage . The third place to look for limits is your agent . I always recommend that the customer purchase the highest possible limit of liability . A lawsuit can bankrupt you quickly . The fourth place is the value of jewelry , guns , collections and other items restricted in the policy . Most people are satisfied with the automatic limits for personal property but if there is the slightest apprehension select expanded coverage . There are many more issues , earthquake and flood coverage , water back up coverage , law and ordinance coverage but all these can be discussed with an agent .


Input: How To Choose The Right Auto Insurance?

Output: Working with a local agent that you are comfortable with and trust is the first step to getting the right coverage for yourself . Ask your friends and family about their agent or carrier and their experiences with them . This may help you in locating an agent or carrier that you are comfortable with .


Input: How To Choose The Right Auto Insurance?

Output: Usually , the right agent is one you are true friends with or a referral from a lng time true friend . They should recommend high liability limits and um/umi . Usually the longer they have been in business and how successful they seem does help , See how the help treats you when you walk in the door . If someone does not say hi come on in then you should just say bye I am going to find someone who cares !


Input: Is Mutual Fund Better Than Stock?

Output: A mutual fund is a share in an investment company . According to the prospectus it invests the funds using a particular investment strategy . The fund is generally quite diversified reducing the risk of a particular security suffering a great loss . At the same time this diversity dampens the effect of a particular security contained in the fund experiencing enormous gains . The mutually fund is generally viewed as being less volatile and more diversified .


Input: What Is Key Person Life Insurance?

Output: That is a great question ! If you are an invaluable part of your companies success , I 'd not be surprised to hear that they have a key person policy on you ! This type of policy is purchased by an employer , or business partner when the loss of that employee would have a great impact on the financial stability of the company . For example , let 's say that you are a mechanic that specializes in repairing imported sportscars , you are really good at it and have developed quite a lot of clients that come to you , and your company relies heavily on that income you generate . They may take out a policy for the event that you pass , and the business suffers financially from the loss of your clientele until they find a replacement for you . The company is the owner , the beneficiary , and pays the premiums in this type of policy . I hope that helps , thanks for asking !


Input: What Is Key Person Life Insurance?

Output: Key man insurance is a form of business insurance . The key person is generally responsible for the profits of the company . If that person were to suddenly die , the company might find it difficult to replace them . The death could cause a sag in profits . Creditors might take a different look at the company if the key man is dead . The business will need cash to survive .


Input: What Is Key Person Life Insurance?

Output: Key person life insurance covers employees who are big contributors to the income that companies bring in -LRB- e.g. top salesmen , designers , engineers -RRB- , are managers , or are other key employees . This type of worker can be hard to replace , and the time it takes to replace them can result in losses to the company . Therefore , key person life insurance can help alleviate those losses and give the company some finances to help them recruit a replacement .


Input: What Is Key Person Life Insurance?

Output: Most companies have at least one person -LRB- e.g. the owner of the company -RRB- who 's loss can have a substantial impact on the business ' revenue . Upon this `` key-person 's '' death , someone else must be hired to carry on the same tasks performed earlier . Many company owners therefore insist on buying life insurance coverage to minimize the risk , and many lenders require that the business carry life insurance on the key person to protect their loans and investments in the company . The business would generally own the policy , pay the premiums , and be the beneficiary . Key person policies are often used to support a buy-sell agreement between business partners with the proceeds structured to purchase the deceased partner 's shares or interests in the company - the agreement would typically mandate that the deceased partner 's estate sell it 's stock to the remaining partners/shareholders and that the partners/shareholders purchase the interest for a specified price -LRB- the price should help establish the value of the business for estate planning purposes -RRB- .


Input: Can You Cash In Your Life Insurance Policy?

Output: Yes , you can cash in a permanent life insurance policy that has cash value . However , there may be other options for your policy that will not cause you to lose the death benefit coverage . E.g. . If the premium is too high , you may be able to reduce the face amount that will lower the premium , or even turn your policy into a reduced paid up policy for which no more premiums are needed . If you need cash for living expenses , you can take a loan from some policies . Visit with an agent to make sure you are doing the most economical choice with this valuable policy you had purchased in the past .


Input: Can You Cash In Your Life Insurance Policy?

Output: Yes , providing your policy has a non-forfeiture benefit you can cash in the policy and receive whatever its cash surrender value is . Traditionally speaking , this would apply to whole life insurance and universal life insurance . This would not apply to term insurance as it does not have a non-forfeiture benefits and has no cash surrender value .


Input: Who Is Eligible For Disability Insurance?

Output: To be eligible for Disability Insurance -LRB- DI -RRB- , you must have health that meets the company 's underwriting guidelines for that policy . It is harder to qualify medically for Disability Insurance than it is for Life Insurance , because so many more health conditions can cause a Disability than can cause a death . But a good Disability Insurance brokers can guide you to the right policy . You must also have an income in order to be eligible for Disability Insurance . Homemakers or others who do not receive a steady income are , unfortunately , ineligible for coverage . And some occupations will disqualify you . That being said , most people can get Disability Insurance and it is a very important part of a secure financial portfolio . A good Disability Insurance agent will be an immense help to you in determining whether you are eligible for affordable DI coverage .


Input: Who Is Eligible For Disability Insurance?

Output: Normally , any person ages 18 through 60 , working full time -LRB- at least 30 hours per week -RRB- , earning at least $ 18,000 per year -LRB- gross , before taxes -RRB- , in an acceptable occupation , with an acceptable medical history and `` lifestyle '' -LRB- driving record , arrests , avocations etc -RRB- is eligible to buy disability insurance . Insurance companies differ in how these rules and guidelines are set , so it is best to speak to a knowledgeable insurance broker to sort through all these issues .


Input: How Do I Know If I Need Life Insurance?

Output: Talk to your Insurance Professional about it and ask to complete a financial analysis . If you have income , savings and investments , as well as debt in any form , and also have people who depend upon you , then you more than likely have a need for Life Insurance . There are a number of solutions that will best fit your needs .


Input: How Do I Know If I Need Life Insurance?

Output: That 's an easy one . You are alive and presumably have either family , friends , someone you love or care very much about , belong to a religion or religious group or charity or other public cause . If there is someone or something you would like to give money to or make a donation to , they you should have life insurance . It will make sure you can fulfil your dream of protecting and giving . Thank you . GARY LANE .


Input: How Do I Know If I Need Life Insurance?

Output: Complete a life insurance needs analysis - there are general worksheets that you can google for , however , to get the most accurate picture , you should talk with an independent life insurance broker . The purpose of the insurance is a driving factor in determining how much and how long you need the coverage for -LRB- e.g. paying off a mortgage , income replacement , estate planning , family protection , etc. -RRB- . Someone only looking to pay off debts only `` needs '' the coverage til the debt is paid off . For example , if you have a $ 500,000 mortgage that should be paid off in 30 years , you would only `` need '' the coverage for 30 years , so a permanent be suitable to the need . If you 're looking to provide income for your family in the event of your death , you may want a combination of term and permanent coverage . Realistically speaking , most people are not going to purchase enough coverage to cover every need that they have - many times this is because they ca n't / do not want to write the check for such a high amount . You should look at which are the most critical needs you want to meet , how long do you need to have each of them covered for - this will point you in the direction of how much coverage is appropriate to have and how long you will need it for . Please feel free to contact me for further assistance . Thanks very much .


Input: How Do I Know If I Need Life Insurance?

Output: Do you love anyone ? Will your premature death have a bad effect on anyone ? Do you have financial obligations that will need attention ? Is there someone you want to benefit ? Of course , there are other questions , but these address the basic issues . If there is love in your life , you probably need life insurance ; it is the only way to ease the pain that would come to those who love you were you to meet a premature death .


Input: Why Not To Buy An Immediate Annuity?

Output: That is a great question ! The purpose of this type of annuity is to create a stream of payments that start right away . If you were looking for an income stream that would be a higher dollar amount , or one that might allow you to take advantage of a lower tax bracket in retirement , then perhaps you would want to purchase a deferred annuity . I hope that helps , thanks for asking !


Input: Why Not To Buy An Immediate Annuity?

Output: An immediate annuity is an ideal solution for turning a lump sum of money into income that you can not outlive . This is the basic form of annuity . This will provide assurance that a floor of basic needs can be predictably paid . You might want to keep some money back to provide inflation protection ; however , the immediate annuity provides something intangible as well , peace of mind .


Input: Will Homeowners Insurance Cover Water Heater?

Output: The homeowners policy will provide coverage for damage caused by a ruptured hot water heater . It will not replace the hot water heater , itself . It is very important to get assistance urgently as water damage never improves , it only gets worse . It is particularly critical if carpets or wood floors are involved .


Input: What Is Life Insurance Money For?

Output: Life insurance proceeds protect the beneficiaries from economic harm if the policy insured dies . Death benefit proceeds can pay off debt , including a mortgage , fund future obligations like child education or fund charitable organizations . It can even replace the income of the insured and fund a retirement for the beneficiaries .


Input: What Is Life Insurance Money For?

Output: Life insurance money is for carrying on one 's financial responsibilities beyond death . Sometimes , it is is to bring an endeavor to completion -LRB- such as raising your child to adulthood -RRB- . Sometimes , it is to provide funds for a transition -LRB- such as key person insurance gives the business time to replace you -RRB- . Sometimes , it is to distribute what you have accumulated during your life , to what is important to you , after your death -LRB- such as leaving money to a charity or heirs -RRB- .


Input: Who Are The Top Ten Life Insurance Companies?

Output: You could rank companies on a variety of criteria . In the industry , companies are often rated by admitted assets . That means how much money they have . Another way would be the number of policies in force . There are other ways as well . However , whether a company is the biggest , or has the most policies or the highest skyscraper doesnt make any difference when you file a claim . All life insurance companies and the insurance commissioners that regulate them are committed to their ability to pay that death claim when it occurs . That is the reason that you buy life insurance . The death proceeds come in US denominated cash and rarely know which company provided them .


Input: How Much Can I Contribute To My Retirement Plan?

Output: If your retirement plan is qualified then you have contribution limitations or by the percentage of income or both . There are several defined contribution plans like 401 -LRB- k -RRB- , 403 -LRB- b -RRB- , 412 -LRB- e -RRB- , SEP IRA , HR10 , IRA , Roth IRA & 457 Plan . Depending upon income and the plan the best is suitable for you , contributions from $ 5,500 for a traditional and Roth IRA all the way up to $ 51,000 for a defined contribution plan .


Input: Does State Farm Offer Annuities?

Output: Yes , State Farm does offer three types of annuity products at this time -LRB- June 27 , 2013 -RRB- . The titles and descriptions of these three products are : Future Wealth Builder '' -LRB- a flexible premium deferred life annuity -RRB- , `` Future Income Plus '' -LRB- a single premium deferred annuity -RRB- , and `` Guaranteed Income '' -LRB- a single premium immediate annuity -RRB- .


Input: Who Regulates Annuities?

Output: Annuities are regulated by a few various entities , depending on the type of Annuity . All Annuities are regulated by the department of insurance in the state the annuity was sold . Variable Annuities , which participate directly in the stock market via managed funds , are regulated by other entities as well . Which one depends on the broker who sold you the Annuity . FINRA , State Securities Department , & the SEC all regulate registered reps/stock brokers/asset managers/etc .


Input: Can Creditors Go After Annuities?

Output: Most states allow a portion of Annuity funds to be exempt from creditors . For most states this amount is in the $ 250k - $ 300k range , however it does vary so check with your states Department of insurance , or with a local Attorney . Also , all Annuities have a Beneficiary designation in the event of death . This Beneficiary receives the Annuity funds free of probate . Which means that the deceased 's creditors can not touch them .


Input: Will Renters Insurance Cover Stolen Cash?

Output: A standard renters policy will offer minimal coverage for stolen cash , if any . You may have zero coverage or as much as $ 200 - $ 300 depending on the insurance company and policy . It would be surprising if you had more coverage than that without specifically requesting a higher limit via an endorsement to your policy . Read your policy coverage forms under the insured property definitions to see what you have specifically .


Input: Will Renters Insurance Cover Stolen Cash?

Output: Many renters polices will cover stolen cash but there is a limit on the amount of coverage . Usually the amount is around $ 200.00 . In most cases this would fall under your deductible . If you have a claim where other items were stolen including the cash you lost you may have a claim worth filing . I would contact your agent to discuss the details of your loss and policy limits .


Input: Does SSI Qualify For Medicare?

Output: In the vast majority of cases , you would not be eligible for Medicare until you either turn age 65 or until you have been receiving social security disability income benefits for twenty five months . If you are on SSI , you should receive your Medicare cards automatically just before your 25th month receiving benefits .


Input: How Do You Get Rid Of Whole Life Insurance?

Output: How do you get rid of a whole life policy ? Simply put your desire in writing and sign and date when you wish for the policy to end . Submit it to the insurance company if you do n't have an agent . That said , please make sure you have thought your decision through . This is something you ca n't undo later .


Input: How Do You Get Rid Of Whole Life Insurance?

Output: If you really just want to `` get rid of '' a whole life policy all you have to do is stop paying the premiums ... It will `` go away '' , -LRB- lapse -RRB- . If it 's a policy that is fully paid for then you will need to contact the insurer or your agent and make certain arrangements . A whole life policy that is paid for , and those that are not yet fully paid for will have a cash `` surrender '' value that you 'll probably want to receive . Although I really ca n't imagine why anyone would want to `` get rid of '' their whole life policy !


Input: How Do You Get Rid Of Whole Life Insurance?

Output: Unless it is a very new policy , or if you have borrowed heavily from it , Whole Life Insurance will have a cash value . Therefore , you will have some choices in how you want to `` get rid of it '' . You might choose to keep it with a reduced face amount and not pay any more premiums . You might want to take the cash value , or roll the cash value over into another policy . Contact the agent who sold you your policy to determine your best choice . If that agent is no longer in business , you can contact the insurance company or another agent for assistance .


Input: What Is The Leap System In Life Insurance?

Output: Three decades ago Robert Castle created a financial modeling program that correlates life insurance , saving plan and asset growth into a single plan . To some advisers the methodology is a marketing strategy for simply selling life insurance . Many career life insurance producers use this sales track to establish the need for the products they sell . It can be a disciplined approach for consumers as well , but it may not be able to be customized to address the differing consumer markets .


Input: How Much Insurance Do I Need For My Car?

Output: There are a number of factors I look at to determine how much insurance a client needs . Income , valuables , current savings or future savings goals -LRB- education , retirement , homeownership -RRB- are all things that I take into consideration . Why do these matter for car insurance , you might ask ? Because if you get into a serious or fatal accident , all of these things could be taken from you in a liability lawsuit . I highly recommend sitting down with an insurance professional to discuss the appropriate limits for your specific situation .


Input: How Much Life Insurance Does A Person Need?

Output: The amount of Life Insurance can be very different from person to person . Make an appointment with your Insurance Professional for a proper `` Needs Analysis '' . This interview can be very useful in helping you to identify both your current needs and future goals . Once that is accomplished , you have a wide array of insurance solutions available to you so chose the one , or combination of products that best meets your needs .


Input: How Much Life Insurance Does A Person Need?

Output: The key to answering this question is : to what extent does the beneficiary want to hear a loud clock ticking ? If you use a formula to replace income for a specific amount of years , then eventually the beneficiary will run out of money . What then ? Second marriage ? Second job ? The clock is ticking loudly to do something to replace the lost benefit . Alternatively , if you use a formula that preserves the benefit , then the beneficiary could simply live off the interest . The money will not run out . No loud ticking .


Input: How Much Life Insurance Does A Person Need?

Output: That is a great question ! The amount that you will need depends upon what you want the policy to do . If you just want it to cover your funeral expenses , you will not need anywhere near as much as if you wanted to leave a few years worth of salary for your spouse . Please contact me , and we 'll go over this question in a little more detail , so I can direct you on what to look for . Thank you for asking !


Input: How Much Life Insurance Does A Person Need?

Output: This question has as many answers as it has interested individuals . The payer normally wants to spend as little as possible so determines to have the lowest possible amount , the beneficiary will never turn away money , so wants as much as possible . Other players have their opinion as well . The barometer seems to be `` love . '' Who do you love and want to see continue life without discomfort ? Once that is settled , eliminate debt , provide for adequate income and then consider your hopes and dreams . If you want your children to be college educated , you would provide funds for that . If you have charitable interests you might want to provide funds for those interests . If you have a large net worth and it is largely in land , for example , you might want funds available so that the land would not have to b sold to pay death taxes . As I said this is as complicated as the number in interests of the parties involved .


Input: How Much Life Insurance Does A Person Need?

Output: There is no set amount . Conventional methods used by life insurance professionals to determine the amount you need focus on `` Capital Needs Analysis '' , `` Human Life Value '' or methodologies that involve variations on these . The key thing is to meet with a life insurance professional who can help you start the planning process and ensure that adjustments are made over time . To help prepare for that meeting , you can use one of the many online calculators such as this one : WEBSITELINK


Input: How To Get An Auto Insurance Company To Pay A Claim?

Output: An Auto Insurance company will pay a claim provided that the coverage is included in your policy , and the circumstances around the loss are included as covered perils in the terms and conditions of that policy . If you are involved in an accident I suggest the following , 1 -RRB- Do not move the cars . 2 -RRB- Call the local police . 3 -RRB- Assuming that the local police will offer this , collect all the pertinent information for the other party including name , address , contact number , year make and model of their car as well as a preliminary accident report . 5 -RRB- Take a few minutes when you get home to write a short report of the accident . This way , should you be asked for a statement , you are prepared and may read that statement consistently no matter how many times you are asked to provided it . Finally , call your Insurance Professional to report the incident and obtain advice and counsel .


Input: How To Get An Auto Insurance Company To Pay A Claim?

Output: An auto insurance company wants to close every open claim . To close a claim they must collect all the pertinent information . What may appear to be an open and shut case might be complicated . One common problem is that the driver whose car strikes yours acknowledges responsibility at the scene of an accident then later decides that it was your fault . This can slow down proceedings considerably . You have access to the adjuster and your agent . You should be able to move the claim along unless it is stalled by something outside your control .


Input: Can I Take Money Out Of My Life Insurance Policy?

Output: If you have a permanent life insurance policy that has cash value , you may be able to take money out of your life insurance policy . You can do it in the form of a loan , which allows you to repay the money with interest and keep your life insurance coverage intact . Or you can possibly take it as a partial surrender which would reduce your total coverage . Contact your agent or the company that your policy is placed with to find out your options .


Input: How Much Does Health Insurance For A Newborn Cost?

Output: Notifying the carrier is often critical . If that deadline is missed , it is possible that the next opportunity to add the newborn may be many months away ... possibly during an Open Enrollment period . In some states , a `` short-term '' plan can be purchased . Although premiums are very inexpensive , most benefits are subject to a deductible and pre-existing conditions are not covered . This type of policy should only be considered once options provided by the previous question have been exhausted .


Input: How Much Does Health Insurance For A Newborn Cost?

Output: If you are referring to individual major medical coverage , you need to consider that carriers in most states currently do not issue individual -LRB- child only -RRB- plans to children under the age of 18 . If you live in one of the handful of states that do issue child only coverage , some will only issue the policy once the baby is anywhere from 2 weeks to 6 weeks old . If the parents have a major medical policy -LRB- group or individual -RRB- they can add the child to their policy as long as they notify the carrier within 30 days -LRB- most states -RRB- . Premiums for children under the age of 12 months can run several hundred dollars per month . Usually the rates are more affordable after age 2 - 3 . Children with severe medical conditions can not be rejected if added to their parents plan within the grace period , but their premium could be $ 500 + monthly .


Input: Can You Change From Medicare Advantage To Medigap?

Output: You can disenroll from your Medicare Advantage Plan and switch back to Original Medicare from January 1 thru February 14 of each year . You will need to get a Medicare Supplement and Prescription Drug Plan . If you have serious health conditions you may not be qualify for a Medicare Supplement . Depending on the pre-existing condition you could be denied coverage or have to pay a much higher premium because of the pre-existing condition . It would be very important to talk with a qualified agent before you make your decision to disenroll from your Medicare Advantage Plan .


Input: Can You Change From Medicare Advantage To Medigap?

Output: In a way , yes . What 's actually occurring is you 're leaving Medicare Advantage to go back to Original Medicare -LRB- Parts A & B -RRB- and adding a Medigap plan to that to cover the 20 % of expenses that Original Medicare does not . During the annual enrollment period -LRB- AEP - October 15-December 7 -RRB- , you would apply for a Medigap plan noting to the carrier your intent to disenroll from the Medicare Advantage plan -LRB- you ca n't have both unfortunately -RRB- . The effective date for the coverage would be set up as January 1 of the following year because your Medicare Advantage plan is set up as a one-year contract providing coverage from January 1-December 31 for the year you enrolled for . If it 's your first year in a Medicare Advantage plan and you want to go back to Original Medicare , you will have a guaranteed-issue right -LRB- via a `` trial right '' when it 's your first time in an MA plan -RRB- to secure any Medigap plan and can not be declined for any medical reasons . Another `` guaranteed-issue '' / `` trial right '' situation is if you dropped a Medigap plan to go to Medicare Advantage -LRB- for the first time and you 've been in the plan for less than one year -RRB- and want to go back to Medigap , you can secure the Medigap policy you had before you joined the Medicare Advantage Plan , if the same insurance company you had before still offers it . If your prior carrier your former Medigap policy was through no longer offers that same plan , you can buy either a plan A , B , C , F , K , or L from any insurance company offering coverage in your area . For either `` trial right '' scenarios , it can be done at any point during the year -LRB- not just during AEP -RRB- as early as 60 days before the date your Medicare Advantage coverage will terminate and no later than 63 days after it ends . It 's best to speak with an independent broker who can shop the case for you among many carriers to make sure you 're getting the desired Medigap plan at the lowest possible cost since they 're standardized -LRB- the coverage is the same for a given Medigap plan regardless of who it 's through - the only difference being price -RRB- . Captive agents can only offer plans from the carrier work they work for . I hope the information is helpful - please feel free to contact me for help with your Medicare insurance coverage , including plan quotes and comparisons for Medigap plans , and if you have any other questions . Thanks very much .


Input: What Is Being Vested In A Retirement Plan?

Output: Being vested in a retirement plan means that you can take the benefit with you when you leave your place of employment . Immediate vesting is when you are immediately 100 % vested in your plan . Cliff vesting is is an either-or type of vesting . If you stay x number years or longer , you get to keep 100 % of the money in your retirement plan . If you leave before x number of years , you get none of it . Graded vesting allows you to get at least 20 % of the money after two years , and fully vested after 7 years or less .


Input: Why Do Rich People Need Life Insurance?

Output: People need life insurance for different reasons . Naturally , a tax-free death benefit helps settle estates , pay bills and provide lost income . And of course , protecting wealth makes financial sense . There are many other reasons and a full-time broker will review with you what type of life insurance you should have and what is the least expensive way to buy it .


Input: Why Do Rich People Need Life Insurance?

Output: Why do rich people need life insurance ? Because they see the value in creating dollars for pennies . People with wealth have always been big purchasers of life insurance and yes , cash value life . There are numerous tax advantages and legal advantages to owning cash value life insurance that other products simply do n't have .