Input: When Do I Buy Homeowners Insurance?

Output: Once a buyer and seller agree on a price , a title company normally begins the process of escrow . The purpose of this procedure is to legally transfer the property . In the process the title company makes sure that the seller has the right to sell the property to the buyer and that all liens against the property have been satisfied . When the title company is ready to transfer the deed to the buyer the title company then look to the buyer to make sure that the money for the sale is actually available . In most cases the purchase requires a mortgage . In their negotiations with the mortgage company the subject of homeowners insurance is opened . The mortgage company requires that a home for which they are going to loan money has enough insurance to protect their interest . This is compounded if there are multiple lenders . The way that this is normally done is that the buyer provides evidence of a homeowners policy that insures the house at the cost of replacement and names the mortgage company as the mortgagee . An agent normally draws up the homeowners policy at the direction of the mortgage company in coordination with the title company . When this is done in direct communications there are rarely any difficulties . The policy that is ordered has been pre-approved by the lender and the policy starts on the day that title changes , thanks to the title company . The term for loans where the owners equity is small normally requires that an escrow account be established . This escrow account pays the property taxes and insurance for the home . Money for the opening of the escrow account is a part of the closing costs . This means that the annual premium of the homeowners policy is paid when the title passes . The escrow account collects money throughout the year to enable it to pay the insurance company and the taxing authority when billed . This causes slight changes from time to time in the monthly payment that the mortgage company requires . The owner of the home can change insurance companies whenever he or she deems it appropriate . The amount of coverage is still subject to the requirements of the lender . Because the cost of constructing a house does not necessarily equal the price paid for a house this requirement is sometimes difficult to balance . When a change of policies is made the existing insurance company must be notified . Usually evidence of insurance provided by the newly appointed insurance company will satisfy the lender and the previous insurance company . This transition isnt always smooth and does require monitoring . Escrow withdrawals can be made to two insurance companies providing insurance on the same building . This presents many problems not the least of which is the fact that the cost for insurance has doubled . Most insurance companies will cancel a homeowners policy upon request . Most will cancel the policy effective the date of the replacement policy . Most companies will refund any unused premium on a pro rata basis . Some companies may use the short rate cancellation procedure . This procedure makes cancellation slightly more expensive .


Input: Does Having High Blood Pressure Affect Life Insurance?

Output: Hypertension and high blood pressure can affect life insurance pricing because the risk to the life insurance company is greater . However , in recent years , managed hypertension and high blood pressure with medication and annual doctor visits can `` mitigate '' some of the exposure to the life insurance companies . There are significant differences inunderwritingpractice from company tocompany . We monitor the companies known in the market as benevolent underwriting .


Input: Does Having High Blood Pressure Affect Life Insurance?

Output: Hypertension can impact the underwriting process for life insurance . It really depends on how well it is controlled by medication or by other means . Other related conditions may add complexities . Uncontrolled situations may lead to postponement . However , in well controlled situations , it may have little impact on rates such that even preferred rates may be available .


Input: Does Having High Blood Pressure Affect Life Insurance?

Output: Yes , having uncontrolled high blood pressure can affect life insurance . It can cause the premiums to go very high or even cause the policy to be declined . This is especially true if the hypertension is in tandem with other health conditions such as diabetes , sleep apnea , or renal disease . On the other hand , blood pressure that is well controlled with medication may only affect your rates slightly , or not at all . Using a broker with many options will help you get your best rate while having high blood pressure .


Input: Does Having High Blood Pressure Affect Life Insurance?

Output: How does high blood pressure effect life insurance ? HBP effects the rate class you are given by underwriting . You could possibly be a decline if your blood pressure is too high and untreated . High Blood Pressure is linked to heart conditions and underwriters are concerned about untreated high blood pressure . On the other hand , a person with high blood pressure who has had treatment -LRB- medications -RRB- and shows good control of the problem , can even secure a preferred rating with some companies .


Input: What's The Difference Between Whole Life And Term Life Insurance?

Output: The primary difference between whole life insurance and term insurance is the length of time that the company will be obliged to pay a death claim . If you search for a mortality curve you will see that most people die when they are older . This means that if the company promises a death claim for a short period of time , they are unlikely to pay a death claim . This is term insurance . A whole life policy pays the death claim whenever it occurs and spreads the cost over the lifetime of the insured .


Input: What's The Difference Between Whole Life And Term Life Insurance?

Output: Life insurance that is kept in force for a persons whole life as long as the scheduled premiums are maintained . All Whole Life policies build up cash values . Most Whole Life policies are guaranteed as long as the scheduled premiums are maintained . Term insurance is the type of life insurance that provides protection for a specified period of time . It usually has no real cash value build up . They do have term policies that will return all of your premiums back to you at the end of the term period if you out live the policy .


Input: What's The Difference Between Whole Life And Term Life Insurance?

Output: Do you want to rent or buy your life insurance ? Do you want to be without life insurance after a specific number of years and have to start all over again searching and hoping you qualify ? That is what Term is . Whole Life is yours forever . Just pay the premiums . No requalifying . It builds up cash value . Term is gone when you stop paying . No equity buildup . Thank you . GARY LANE . 714 4229616


Input: What's The Difference Between Whole Life And Term Life Insurance?

Output: Whole Life covers you for your entire life . It is considered a permanent policy . Term Life Insurance is just that , insurance which covers you for a period of time or a term . The terms can be as little as 1 year up to 30 years depending on what you need the coverage for . Whole Life is more expensive however there may be more value for you . Talk to your broker or let me know if you would like to see the specific differences as it pertains to you .


Input: What's The Difference Between Whole Life And Term Life Insurance?

Output: Whole Life covers you for your `` whole life '' . Term Life covers you for a term , or set number of years . Whole Life has cash value that can be utilized while you are still alive . Term Life does not -LRB- except for Term with living benefits , which allows you to use part of the death benefit if certain triggers are met -RRB- . Whole Life allows you to pay the entire premium at once , or in a limited number of years , after which no more premiums are owed . Term Life requires that you make periodic payments over the entire duration of the policy . If you drop a Whole Life policy after some length of time , you will usually have a reduced paid up policy that you can keep without making further premium payments . If you drop a Term policy , your coverage ends and you do not have any return of cash -LRB- unless you buy ROP , or return of premium Term Life -RRB- . With participating Whole Life , you may get dividend checks over the years . With Term Life , the only benefit you get will be if you die before the term ends . Whole Life costs more because it is a permanent product and has cash value in addition to death protection . Term Life costs less because it is temporary and offers pure death protection .


Input: What Do I Need To Know About Signing Up For Medicare?

Output: Medicare Benefits are started automatically the first day of the month you turn 65 if you are already getting benefits from Social Security or the Railroad Retirement Board . Youll get your red , white and blue Medicare card in the mail 3 months before your 65th birthday . If youre not getting Social Security or Railroad Retirement Board and youre close to 65 , youll need to sign up . You can contact Social Security 3 months before you turn 65 , the month of your 65 birthday and 3 months after the month you turn 65 . Generally you wont pay a premium for Part A ; Part B will be deducted out of your Social Security Benefits and is based on your income . If you are still covered by your employers insurance you can decline your Part B coverage and save yourself that cost and apply later when your employer coverage ends . Once you have Medicare there are 2 main ways to get your Medicare coverage , there is Original Medicare or Medicare Advantage Plans . To keep thing simple if you chose Original Medicare you must buy a Part D Prescription Drug Coverage and you may also want to purchase Medicare Supplement Insurance -LRB- Medigap -RRB- policy . One thing to remember is that all Medigap policys with the same letter are identical in coverage the only difference is the price they charge you so shop around with a broker that represents multiple companies . If you chose Medicare Advantage its very similar to employer insurance where you have to see doctors that accept the insurance and there are small co-pays . Most Advantage plans include Medicare prescription drug coverage -LRB- Part D -RRB- and have low and sometimes no monthly premiums .


Input: What Do I Need To Know About Signing Up For Medicare?

Output: Qualifying for Medicare , in general , is a pretty simple and straight-forward process - the most common way people qualify is by turning age 65 . You can complete the application process as early as age 64 and 9 months . Many individuals will qualify for premium-free Part A - you have the option of signing up for Part B as well , however , Part B requires a monthly premium . If you 're under 65 , you may be eligible for Medicare if you 're on disability -LRB- and have been for at least 24 months -RRB- or have end-stage renal disease -LRB- ESRD -RRB- . You can enroll in Medicare Part A -LRB- and Part B as well -RRB- online through the social security administration website , ssa.gov , or at your local social security administration office . Part A & Part B are referred to as Original Medicare . Original Medicare covers approximately 80 % of expenses and both parts feature a deductible that you 're resopnsible for paying -LRB- in addition to the other 20 % of remaining expenses -RRB- . I would recommend adding a Medicare supplement -LRB- Medigap -RRB- plan to cover the other expenses - these are sold through private insurance companies . Plan F is the most comprehensive , but if your doctor accepts Medicare and assignment , you may want to look at a plan N as well . The major advantage of adding a Medigap plan when you sign up for Medicare Part B is that you have a 6-month open enrollment period where you ca n't be turned down for a plan -LRB- no medical underwriting -RRB- and it helps create a predictable expense structure for your health care . You may also want to look into adding a Medicare Part D prescription drug plan as well if you would like to have your coverage for prescriptions as well .


Input: Can You Get Car Insurance With An Expired License?

Output: Great question ! If you try shopping online for insurance without a valid drivers license , it is really hard to get a quote , let alone an accurate one . It is wise then , to contact an agent who can help you find a company that will write your insurance for you . There are circumstances where you can get insurance with no license , -LRB- like an elderly person who owns a car that someone else drives them around in -RRB- and there are companies that will write you , if your license is recently expired , and can be renewed within a short period of time , usually 30-45 days . If you do not get it renewed in that period , the insurance coverage stops , and you are back to being an uninsured motorist , something no one wants you to be . If you need more information , please feel free to contact me , okay ? Thanks for asking !


Input: Can You Get Car Insurance With An Expired License?

Output: No , you can not do that . Each driver to be insured must have a valid drivers license . The insurance company will verify eligibility of each driver by pullingtheir motor vehicle record -LRB- MVR -RRB- prior to issuing a policy . If a license is suspended or expired , the insurance company will decline to offer insurance coverage .


Input: Who Is Eligible For Renters Insurance?

Output: Virtually anyone that rents a dwelling . Your premium will be based on many factors , such as geographic location , number of units in the structure , fire and alarm protections , age of structure , amount of coverage sought , and many other things . Each carrier has it 's own set of parameters that they will use to determine if they are will to accept a specific risk . If one carrier is not willing to take you on as a risk contact another .


Input: Does Medicare Cover Preoperative ECG?

Output: In some situations , Medicare will cover a preoperative ECG -LRB- EKG -RRB- . Medicare covered procedures are to be billed as part of an evalutation and management process separate from the global bill submitted to Medicare for surgical procedures . The preoperative procedures and tests must be justified and submitted with the proper ICD-9 code to be considered .


Input: How Much Does It Cost To Buy My Own Health Insurance?

Output: Under the new Affordable Care Act , each individual health plan is guaranteed-issue , meaning you can not be declined for health insurance for a pre-existing condition or other health-related issue , nor charged a higher amount -LRB- e.g. level 1 rates , level 2 rates , level 3 rates , etc. as it was under the old structures -RRB- . Your premiums are now based on the type of plan you have -LRB- e.g. bronze , silver , gold , or platinum -RRB- , your zip code , whether you use tobacco products or not , and your age - premiums will vary by carrier . You will need to consult with a health insurance agent/broker to find out what the premiums are for health plans in your area .


Input: How Much Is Long Term Care Insurance Premiums?

Output: Long term care insurance premiums are determined by gender , age , smoking status , health history and current medical condition . The policy design is also a factor in the premium price such as the elimination period , the benefit structure and any additional riders like an inflation rider . Policy definitions are very important , so do n't go it alone . Consult a long term care representative before moving forward with your purchase .


Input: Does Geico Renters Insurance Cover Bed Bugs?

Output: Renters Insurance does not cover bed bugs . Insects and vermin are a common exclusion on all property policies . This situation would call for an exterminator . If you are unsure and have additional questions I always recommend you contact your local independent agent who can assist you with these type of questions and more . Also an independent agent can help find you the right policy for your needs .


Input: Does Geico Renters Insurance Cover Bed Bugs?

Output: I ca n't specifically speak for Geico because I do n't represent them and I have n't read their policies . I can however , speak from 22 years in this business as both a captive and an independent agent with many years of advanced education . There are usually two coverage forms that are used in renters policies , Broad Form and Special Form . Broad Form lists which perils you 're property is insured against and insects are not one of them . Special Form covers everything except what 's excluded and insects are excluded so , in general , no , bed bugs would not be covered . The fact that this question had to be posed here is testament to why you need a good agent . A good agent would be able to answer such a question and , if he/she could n't , they could find out and would get back to you quickly . Be smart , find an agent you can trust . Even if they cost a little more , they 'll save you big dollars in the long run .


Input: Why Do Single People Need Life Insurance?

Output: OK . You think you do n't need life insurance , huh ? I got a few ideas for you to think about . First the premium now is the lowest it will ever be . Because of your age and your health . Second , you may have a family later , when the rates are higher , if you even could qualify then . Also , I have a new kind of life insurance which pays you while you are alive , for such things as chronic care , critical care , terminal care , disability , all in one single policy with one very much lower premium . Now , do n't you wish you had this ? Let 's talk , since it is only available from PFA Agents . Gary Lane , garylane@cox.net, 714 422 9616 . Thanks .


Input: Why Do Single People Need Life Insurance?

Output: Single people can use life insurance for many purposes . Perhaps they want to leave an inheritance to a favorite relative , or a donation to a favorite charity . Life insurance is a tax favorable way to pass wealth to another person or group . They may have debts that they want to pay off in a quick and simple manner with the cash that life insurance provides . They may want life insurance so that a business partner can buy their share of the business upon their death . Life insurance is also a good resource for paying funeral expenses . It does not go through probate and is awarded in a fairly quick time frame . Single people often choose to take out some extra final expense life insurance coverage to help pay for the costs associated with settling their estate .


Input: Why Do Single People Need Life Insurance?

Output: To pay off debts that are left after they pass away . To leave a legacy . This could be to provide money for college for niece 's , nephew 's , grandkid 's , or other siblings . To provide for their favorite charity after they pass away . They may not remain single before they pass away . Remember the younger you are when you purchase life insurance coverage the lower the cost .


Input: How To Find Car Insurance Quotes?

Output: Auto insurance quotes are available on line , through the mail or by phone . However , insurance is a complex issue and your individual needs are probably best met by an insurance agent . If you dont have an agent get recommendations from your friends , colleagues or neighbors . A good agent will listen to you , provide solid financial advice and communicate clearly with you and the insurance company . Setting the limits of your coverage is critical and should be done with care .


Input: How To Find Car Insurance Quotes?

Output: There are many ways that you can get an auto insurance quote . I personally would suggest that you contact a local agent in your area . They will be to take the time to gather the information necessary to provide you with suggestions for the coverage types and amounts that would best fit your concerns and needs .


Input: How To Find Car Insurance Quotes?

Output: That is a great question ! There are a million and a half internet sites wanting to give you a quote , and you are welcome to try any of them . My advice though is to seek out a live agent . Internet sites are n't going to be as quick when you need help . Look first at the company that you have your life or homeowners insurance with , often there are discounts available for bundled services ; these agents are also much more likely to take care of you , as you 're already a customer . I hope that helps - thanks for asking !


Input: How Does An Agent Get Paid On Life Insurance?

Output: Agents that are hired by an agency may be paid a salary by that agency . Agents that sell independently , or in an agency that pays according to production , get paid commission . The sale of a life insurance policy will pay the agent a commission if the policy is retained for up to a year . Some policies will pay a `` residual '' commission -LRB- much smaller than first year commission -RRB- for each year the insured person keeps the policy .


Input: Does Renters Insurance Cover Termites?

Output: Renters insurance would not cover termites for the main reason your the renter and it 's not your property . This would fall on the responsibility of the property owner to take care of the termites . Also bad news for the property owner and property polices to not cover insects , rodents or vermin .


Input: What Is The Difference Between Stacked And Unstacked Car Insurance?

Output: The stacked / unstacked option refers to uninsured motorist bodily injury coverage on your auto insurance policy . This option is only offered in a handful of states , most states do n't have this option . stacking applies to policyholders who have more than one vehicle on their auto insurance policy . If you choose the stacking option , it multiplies your amount of uninsured motorist bodily injury coverage -LRB- UM -RRB- by the number of vehicles that you have on the policy . for example : if you have UM coverage of $ 100,000 / $ 300,000 , and you own 3 vehicles and select the stacking option , you now have $ 300,000 / $ 900,000 in UM coverage .


Input: Why Invest In Annuities?

Output: Annuities have many faceted features that can be used as a foundation of guaranteed income you cant outlive . The two main types of annuities are immediate and deferred : The policy earning crediting methods are diverse with some annuities using interest rates for fixed annuities , indices for indexed annuities and separate sub accounts in variable annuities . Annuities can be qualified by using them in an ERSIA retirement plan or non qualified .


Input: Does Life Insurance Have To Be Used To Pay For A Funeral?

Output: Life insurance proceeds can be used to pay final expenses , a mortgage and other outstanding debt . Some funeral life insurance policies are directly connected to the burial service company offering the coverage . Final expense life insurance policies , although not directed to the funeral company , are targeted to pay burial costs and final medical expenses .


Input: Does Life Insurance Have To Be Used To Pay For A Funeral?

Output: The death benefit proceeds from a life insurance policy can be used however the beneficiary wishes . Similarly , if the owner of the policy takes cash value distributions via withdrawals and/or loans , use of the cash distributions from the policy is at the owner 's discretion . Just as an editorial comment -- people who purchase `` final expense '' life insurance policies DO intend the proceeds to be used for their burial ...


Input: Does Life Insurance Have To Be Used To Pay For A Funeral?

Output: No your life insurance can be used for any purpose your beneficiary wants to use it for . It has nothing to do with a funeral . Unless it 's a preneed funeral insurance plan purchased from a funeral home . Actually a funeral preneed life insurance policy does not have to be used for a funeral either . The funeral contract can be canceled by you at any time and the life insurance proceeds can be left to the beneficiary of your choice . If you are on Medicaid assistance it would be just like any other life insurance if you canceled the funeral contract and would be exposed to counting as an asset . Do not confuse final expense life insurance which is just simplified underwriting whole-life insurance and preneed funeral life insurance which has other features and guarantees than most any other life insurance . They are two different things .


Input: Does Life Insurance Have To Be Used To Pay For A Funeral?

Output: In most cases a life insurance benefit is simply a pool of money to be used in any way the beneficary decides to . The exception would be a pre-arranged plan where the insurance plan is specific to the services . So unless previously established , life insurance proceeds do not have to be used that way .


Input: Will Medicare Go Broke?

Output: There is no crystal ball to give you a definitive answer but my opinion is that Medicare in some form will always be available . There may need to be changes in order to maintain it , but the need for Medicare is too great to allow it to go away completely .


Input: Will Medicare Go Broke?

Output: There are two web sites every tax paying America should visit : the US debt clock and truth in accounting . Those web sites and other tax payer watchdog groups have made a mathematical case that medicare as it is today is already in the red based on payroll deduction income .


Input: What Happens To Life Insurance When Both Parents Die?

Output: The beneficiaries of a life insurance policy pay in a certain order . First is the primary beneficiary which can be a person , a few people paid by percentage , or an institution , such as to repay a loan . Second is the contingent beneficiary . The contingent beneficiary is paid if the primary benefit dies before or with the insured . Third is the tertiary beneficiary . This beneficiary receives life insurance proceeds if all of the primary and contingent beneficiaries die before or with the insured . If the later beneficiaries are not named on the policy , then life insurance proceeds roll into the estate and will be subject to probate and estate taxes . This is always as shame as life insurance proceeds are usually not taxed if there is a named beneficiary . Be sure and work with a knowledgeable agent or advisor to be sure your life insurance policy is set up correctly .


Input: What Happens To Life Insurance When Both Parents Die?

Output: I agree with David 's answer . But do want to add that there is a type of life insurance that pays out when the second parent passes , called `` second to die life insurance '' or `` survivorship life insurance '' . If the purpose of the life insurance is to pay taxes for one 's estate or pass an estate to children , this can be a good policy to get . It also works well if one parent is uninsuable and the purpose of the policy is not to provide for the other spouse .


Input: What Happens To Life Insurance When Both Parents Die?

Output: What happens when both parents die ? Well it 's going to depend on how much time they spent in planning for such an occurrance . If they planned well , everything will go exactly has they have laid out in their insurance policies and will . If they did nothing and did n't name contingent beneficiaires then those funds go into the estate and are subject to probate . In the simplest ways , naming contingent beneficiaires allows for the funds to escape probate and go directly to the named individuals or entities . If the contingents were still minors the polcies might reference a will where the establishment of a trust happens and the funds go there to be distributed over time .


Input: What Happens To Life Insurance When Both Parents Die?

Output: I agree with the answers listed above . As a sign of good financial planning , parents should examine the possibility of them both being gone and what will happen to their insurance proceeds . Sometimes both parents are killed at the same time -LRB- say by accident -RRB- and usually parents pick each other to be beneficiary . THe contingent person may be a child , relative or close friend . They should consider this option carefully in their planning decisions .


Input: What Happens To Life Insurance When Both Parents Die?

Output: If you are asking because one parent is the primary beneficiary of the other then the payout would go to the contingent beneficiary . Every life insurance policy that I am aware of asks for a primary and contingent beneficiary . If there is no beneficiary then the proceeds would go to probate more than likely .


Input: Does Bank Of America Offer Life Insurance?

Output: Life insurance is sold by life insurance companies not banks . But most banks will sell you life insurance . It 's just not a product of the bank . They will have a life insurance agent that works with them to sell life insurance to the bank customers . Banks and credit unions are usually not great places to buy your life insurance but there can be exceptions to that . Generally the agent at the bank or credit union will be less knowledgable and be much more limited on life insurance products he can offer you than an independent life insurance agent . You should use your bank for your checking and savings accounts and loans . You should go to an independent insurance agent for life insurance .


Input: Who Regulates Life Insurance In North Dakota?

Output: The North Dakota Insurance Department regulates life insurance in the state of North Dakota , through the State Insurance Code of North Dakota . They regulate free look periods , claim processing , etc. . Here is a helpful website to read a summary of some of the things that are regulated by the North Dakota life insurance code . WEBSITELINK


Input: Does Renters Insurance Cover Damage?

Output: It may . Renters insurance will provide some property damage coverage in specific instances . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: Does My Home Insurance Cover Theft?

Output: It is important to talk to your insurance professional about the specific terms and conditions of your policy , but generally speaking , theft is a named covered peril in most Home Insurance policies . This would include theft of your personal property from within your home of course , but also includes theft of your property outside of your home . Personal property outside of your home is usually covered up to 10 % of the total personal property amount listed in your policy . If covered , the loss settlement would be subject to your deductible . The claims specialist will also be looking for a copy or a police report .


Input: Does My Home Insurance Cover Theft?

Output: Generally speaking theft is a covered peril in the more common homeowners policies . There are situations where the company will deny coverage . If you rob yourself it wont be covered . If the residence is under construction or remodeling , the building materials and supplies are not covered . It doesnt cover the theft of a stone from its setting . It doesnt cover theft by credit card . There are other limitations but the most important thing is to recognize that there are restrictions in recovery for jewelry , guns , collections and other items that are detailed in the policy . In addition recovery is reduced by the deductible .


Input: What Would Happen If Medicare Ended?

Output: The chance of Medicare ending are almost nil . The federal government has promised seniors that Medicare -LRB- and Social Security -RRB- will be around forever ... even if they have to bankrupt the country to pay for it . When you consider that Medicare has paid out more in benefits than the trust fund receives in tax revenues every year since 2008 , the system is obviously hurting . You should expect to shoulder more of the cost of your health care every year going forward


Input: How Much Does Individual Health Insurance Cost?

Output: The cost of an individual health insurance policy will be different , depending on your age , where you live , the type of coverage you are going to purchase , and until 2014 , your health conditions . In most areas of the country , there are several top-rated companies that offer affordable personal plans . Whether you need short-term or long-term benefits , there should be many options available . Working with an experienced broker will help you find the plan that best fits with your specific situation . We utilize a combination of decades of experience , top-notch websites and state-of-the art software . No fees of course . Federal tax subsidies become available in the future and they could reduce your premium .


Input: Does Home Insurance Increase Every Year?

Output: Home Insurance is a generic term for either Homeowners Insurance -LRB- Owner Occupied -RRB- or Dwelling Fire Insurance -LRB- Tenant Occupied Landlords Policy -RRB- . The primary purpose of a home insurance policy is to pay for the reconstruction of the home in the event of a fire ; in addition to this primary purpose , there are many additional items which are covered against a number of perils listed on the policy form . In order to maintain sufficient coverage to rebuild the home in the event of a total loss , most policies include an inflation guard endorsement ; the main purpose of this endorsement is to increase the coverage slightly each year to keep up with the annual adjustment of building costs inclusive of materials and labor . It is important for a home not to be underinsured ; policies have a built in coinsurance clause which could cause financial hardship to a homeowner in the event there is a large loss and the home is found not to be sufficiently insured ; the coinsurance clause would only provide coverage on a percentage basis equal to the same percentage of insurance purchased against the actual replacement -LRB- reconstruction -RRB- cost of the dwelling . Some companies will allow the inflation guard to be removed by the insured -LRB- by signed request -RRB- ; however , the prior paragraph may explain why this is not the best option for a homeowner . Although the endorsement has no monetary charge -LRB- premium -RRB- , removing it may heavily impact the policy if a loss were to occur in future years . The inflation guard endorsement may increase coverage amounts by 2 - 5 % based on the current year 's costs of construction and an equally small increase in the annual insurance premium ; however , it is commonly to the homeowners ' surprise that insurance premium is adjusted each year by all carriers based on the prior year 's loss experience to the carrier for the aggregate rating zone -LRB- all homes in the area -RRB- . We receive calls each and every year requesting to remove the inflation guard blaming the endorsement for an increase in annual premium ; many times , carriers may have a 5 % increase in a given area and a 2.5 % increase in coverage limits . Insurance carriers are heavily regulated by the Department of Insurance in each State ; they are also carefully audited by rating agencies most commonly by A.M. Best Company who issues Insurance Company Ratings . It is important for insurance companies to offer excellent customer service , excellent and expedient claims service and pay the full replacement value of all claims presented that are covered by the subject policy ; over and above this , the carrier must maintain financial reserves in order to hold their secure position to handle future losses and offer the security that customers expect from an insurance company . If for example , a Homeowners insurance Premium is $ 500 per year , one could imagine that there is n't much profit to be made after the aforementioned responsibilities and performance guarantees . On extraordinary years where insurance companies post great gains , the auditors and Department of Insurance would require a rate reduction since the profit percentages of the carrier are limited and closely regulated by the Government . Although it is n't common , following many years in the property insurance market , we have seen reductions in annual premium following profitable years . The operation of an insurance carrier is n't as simple as issuing a policy and collecting a small premium ; there is so much more to the contract and operation . For those interested , it is worth contacting a Licensed Representative of your present insurance carrier and inquiring to gain a better understanding .


Input: Should Our 18 Year Old Son Have His Own Car Insurance Policy?

Output: I love CPA 's . They give great accounting advice and some of them even know other things . But the `` minimum limits '' advice defies his training in some important ways . What your son lacks in `` assets '' he more than makes up for in terms of `` potential '' . What I mean here is that he may not have it now , but due to his young age , he 'll have a long time to earn and pay . Even though he is only 18 does not mean that he can not be responsible for an injury or death , or damage to property , and be subjected to an order of the court to garnishee his wage to make reimbursement to those who were injured , killed , or had property damaged . Now , should have have his own insurance ? Assuming he owns the car , he probably needs his own insurance . Staying in the household under household coverage is also OK but some insurers concern themselves with the owner of the car being different than the insured on the policy so proceed with caution when the vehicle is not actually owned by the policyholder . As a practical matter , the discounts that you might enjoy are lost to the child in many cases when they have their own policy . Some companies will extend multi-policy discounts to children of the policy owner . Some discounts do n't come through this connection , however . I like kids learning the responsibility of maintaining their own insurance . It gets the loss off the parents record , for one . Parents can help subsidize the cost if they want and help provide this as a reward for good outcomes on something else . All things said and done , I like responsible children on their own policies but deal with young drivers both on and off the parents policies so it comes down to personal preference and whether you are dealing with issues that poison the whole policy because of the young driver , or not , in many cases .


Input: Should Our 18 Year Old Son Have His Own Car Insurance Policy?

Output: That is a great question , and one every parent asks , I think ! Here 's the deal . While we want to set our kids up so that they can be independent , there are some things that might not really be best to set up for them . Savings accounts , retirement vehicles , a credit card with low credit limits , and life insurances , those are great choices . Auto insurance maybe not so much . Here 's why : Your son 's age group is the highest at risk group for an auto insurer . As such , that means they are much more likely to have an accident , get a ticket , or cause major damage to themselves or others.That risk means that the insurer will hedge their chances of having to pay out by charging much higher rates for them . If he 's a safe and careful driver and the company offers safe driver discounts , he may come out ahead , but if there 's an issue , his rates would increase even higher . By putting him on your policy , he gets the advantage of better coverage than what he could afford , and lower rates , as he 's listed as a driver under your policy . If that 's affordable for you , perhaps it would work out better to keep him there until he moves away , or has a couple of safe driving years under his belt . That said , maybe the responsibility of having to pay for himself might be impetus enough to be careful and safe ... I hope that gives you something to work with as you try to decide . You know your son better than anyone , and I 'm certain that you will make the best choice for him . Thanks for asking !


Input: Should Our 18 Year Old Son Have His Own Car Insurance Policy?

Output: If an 18 year-old son or daughter is living at home and drives a vehicle , there 's a good chance that the child is currently listed on a parent 's policy . This typically results in lower rates because of many available discounts , including multi-policy , multi-car , good-student , longevity , and several others . Also , the liability limits are likely to be above the mandatory state minimum limits . For example , if the state minimum requirement is $ 15,000 per person , and $ 30,000 per accident , the household plan may be $ 100,000 per person and $ 300,000 per accident . Additionally , if the young driver gets a moving violation or is involved in an at-fault accident , it is less likely a cancellation will occur if the vehicle is covered under a parent 's plan . So ... Do you really want your own policy ? You can get it , although the title may have to be in your name . Important Note : This answer was provided by Edward Harris , one of the nation 's premier car insurance experts . His top-rated website Carinsurancezoom.org provided free online quotes and the lowest auto insurance prices from top-rated companies .


Input: Should Our 18 Year Old Son Have His Own Car Insurance Policy?

Output: You may to talk to your insurance agent and not your CPA about insurance matters . Just because your has no assets does not mean he relieved of any liabilities . As a parent you may not want to see your son or daughter under insured . If he is a good son with a clean driving record then you better off leaving him on your policy if the insurance company allows it .


Input: Should Our 18 Year Old Son Have His Own Car Insurance Policy?

Output: Not necessarily , all due respect to your CPA . If your son has a car that is titled to him and he wants to register the car to use on your state 's public access roads and highways , then it is highly likel ; y that the atete will require that he have his own insurance . The question about the amount of coverage he may need , or should have , certainly can in some fashion be based upon the extent of his assets , but I recommend to my clients that it is important to keep in mind that their child is still residing in their home and is more than likely still being claimed as a dependent . Depending upon the laws in your state , it may be that even with his own car , registered and insured in his name , should he cause a serious accident that results in a law suit , the coverage provided in his policy may not be enough to absorb the settlement . In that case , you may be included in the action . Remember a key point here , insurance only provides coverage , it does not limit liability . You may want to include your attorney and your Insurance Professional in this discussion in order to be sure you are receiving the most complete advice .


Input: How Long Does A Homeowners Insurance Claim Stay On Record?

Output: As a matter of practice most insurance companies look back at three years of losses . Companies are particularly concerned about recurring losses . These usually indicate poor maintenance or a design flaw in the residence . Recurring water damage losses from a leaky roof are a concern . There are situations where the initial repair did not fix the root cause and continued claims can be expected .


Input: What Are The Advantages Of Home Insurance?

Output: Home owners insurance protects you from lawsuit if someone is injured on your property . It also will help rebuild or repair your home if it is destroyed or damaged by a covered loss . It willreplaceyour personalpropertythat is lost damaged or stolen in a covered loss . It will provide additional living expenses if you need to move into a motel while your home is being repaired due to a covered loss .


Input: What Is The Average Cost Of Disability Insurance?

Output: Disability premium pricing depends on your medical information , behaviors and your compensation . Medical information is collected such as gender , age , smoking status , health history , current medical condition , etc. . Behaviors like dangerous recreational activities , hazardous vocations and motor vehicle violations . And how much of your compensation do you want to coverage within the limits of disability insurance ? The generally rule of thumb for a nonsmoking healthy male covering 60 % of his compensation can be 3 to 5 % of the compensation coverage .


Input: What Renters Insurance Company Is Best?

Output: That is a great question ! The answer to your question is pretty simple - the one that gives you the most coverage for the least price . There are many good companies out there that have very similar renter 's policies , so it really comes down to which one in your area provides the most coverage for the least cost . Ask for `` replacement cost '' coverage , and have a very detailed list of everything that will go into your apartment - serial/model numbers and pictures of all electronics , and pictures and count sheets of everything else . Use a value calculator -LRB- most renters insurance companies will have one on their site , I happen to like Liberty Mutual 's , as it is simple , and quotes your price as you go -RRB- to help you get an idea of the value of your stuff , and the amount of coverage needed . Since the cost of coverage will vary greatly from neighborhood to neighborhood , and even apartment building to apartment building , it 's hard to give you a company name to look at . Most apartment complexes can refer you to a preferred insurer , Thank you for asking !


Input: What Renters Insurance Company Is Best?

Output: Like all other types of insurance , there is no one company that is `` best '' or `` most affordable '' renters insurance for everyone . To determine the best plan for your personal situation , I suggest speaking with a licensed insurance agent , one who represents many companies in your area . That is the only way to ensure you receive honest , expert advice , based on your personal needs . With property and casualty coverage such as renters , home owners or auto insurance , you can normally get a better deal when purchasing coverage for more than one item . For example , I have my car and my home both covered on policies with Auto-Owners Insurance company . With the multi-policy discounts I receive , I actually pay less to insure my home and car than I would pay to insure my home , if that was the only policy I carried with that company . While that may sound illogical , if not unbelievable , it is true , and is a very smart approach to take to make sure you keep as much as your hard earned money in your pocket as possible .


Input: How Long Does It Take To Get Approved For Life Insurance?

Output: It can take from hours to months to get approved for life insurance . There are some policies that you can apply for online and have in effect within a day . These have limits on the face amount and are on a `` pass/fail '' basis . For larger policies that will give you credit for good control of your health , the underwriter may order medical records to help him/her decide how to rate your policy . How fast your doctors return those records makes a big difference in how long it takes for your life insurance policy to be approved .


Input: How Long Does It Take To Get Approved For Life Insurance?

Output: That 's a great question ! The length of time to be approved will depend on a couple of things . Some companies will issue `` simplified '' applications , that involve only a series of health questions , a med check , and your MIB check before making a decision . Others will have you also do a phone health interview , and some of those will accept or deny you as a result of that call . Other policies require a para-med exam , and those can take quite a bit longer . Some companies have very efficient underwriting departments that move quicker than others , and if there are Doctor 's records needed for a determination , it can also be quite a bit longer . I would ask your agent for more specifics if it is an issue , or contact me , I 'd be happy to help . Thanks for asking !


Input: How Long Does It Take To Get Approved For Life Insurance?

Output: Depends on the type of program you 're applying for . For non-medical policies - it can take as little as 48 hours or up to about 2 weeks -LRB- depends on whether they need to get a doctor 's statement -LRB- called an APS - attending physician 's statement -RRB- , waiting on the completion of a phone interview , etc. , if applicable -RRB- . For traditional programs -LRB- one 's that include an exam -RRB- - it typically takes about 4-6 weeks to complete the underwriting process . This is due to the amount of time it takes to process the lab work -LRB- blood tests , urine tests , ekg , etc. -RRB- , get the doctor 's statement -LRB- APS -RRB- , and for the carrier to review the file . If the carrier is having a difficult time trying to track down the doctor 's statement , they 're backed up case-load wise , or they need to get clarification on certain items , it may take a little longer . Even though it takes about 4-6 weeks on average for these programs , it 's helpful to allow 6-8 weeks for it to wrap up .


Input: How Long Does It Take To Get Approved For Life Insurance?

Output: If you have a well documented medical file , with records available from your doctor , it normally takes New York Life about a week or so to make a decision and offer a rate for your coverage . If your records are hard to obtain , it will take longer . Gary Lane , Registered Representative , New York Life , 949 797 2424 . Thanks .


Input: Can I Get Life Insurance With Lupus?

Output: Yes , you can get life insurance with lupus , although the rates will vary a lot depending on the type of lupus you have , and severity of your symptoms . Systemic Lupus Erythematosus is the most common , yet the most serious , because it can affect internal organs . However , if SLE is very mild , it can qualify for rates as good as standard or low table ratings . Advanced lupus that is affecting bodily function will probably not be approved for a medically underwritten life insurance policy , but there are simplified and guaranteed issue policies that you may still be able to purchase .


Input: Can I Get Life Insurance With Lupus?

Output: The rate that a company charges for a given age is determined by the mortality rate for that particular group . This group then is considered normal or standard . The underwriter is the person at the insurance company that determines if the particular risk , you , are standard . If your particular case is considered different than a standard risk , you might be offered rated insurance . This rating might be inconsequential , or it might be severe . In any case it uses available medical information and statistics to assign an appropriate rate . There are companies that will accept Lupus . You might have to contact a few to determine the best possible offer but by all means get into the process . Not having the insurance is a great deal more expensive .


Input: How Much Should I Spend On Renters Insurance?

Output: A basic Renter-type policy should cost you about $ 150-200 per year . A basic policy would include a nominal amount of coverage on your personal property -LRB- $ 15,000 or so -RRB- , cover you for specific named perils such as fire , theft , wind , vandalism , etc. and provide coverage for the additional cost of living in temporary quarters should your building be damaged by an insured peril and become unfit for living . In addition , it would be common for this type of policy to provide a nominal -LRB- $ 100,000 -RRB- amount of personal liability coverage . Although not included in most basic policies , I 'd suggest `` Replacement Cost '' coverage be requested . Should your property be damaged , instead of paying you the depreciated value of the property , you could claim the full cost for its repair or replacement . Very important in a serious claim ! Of course , higher limits and additional coverages should be available for an additional charge .


Input: Who Pays For Private Health Insurance?

Output: The premiums for health insurance plans are generally paid by the insured individual - if it 's not paid by the insured person , it 's likely being paid by the person 's spouse or other family member -LRB- parent or child -RRB- . Under the Affordable Care Act , you may qualify for a subsidy , depending on your income level , that will pay for a portion of the premiums .


Input: Who Pays For Private Health Insurance?

Output: The premium for a private health insurance plan needs to be paid , but by whom does n't really matter . In most cases the insured will pay their premiums and if the insured has qualified for an advanced premium tax credit -LRB- APTC -RRB- then that portion gets paid by the government and the insured is responsible for the rest . As an experienced agent , I 've seen scenarios where family members , employers and even friends have paid the premiums of the insured .


Input: What Percentage Of People Have Renters Insurance?

Output: As of the last study I seen/heard ; it was estimated sixty plus percent of the renters in the united states have currently purchased renters insurance . Renters insurance is typically a very inexpensive coverage . If you have your auto and renters coverage with the same carrier you will typically receive a discount on both policies . Contact a local agent to find out about availability of coverage and pricing within your area .


Input: What Percentage Of People Have Renters Insurance?

Output: Over 36 million Americans are classified as disabled ; about 12 % of the total population . More than 50 % of those disabled Americans are in their working years , from 18-64 . New Social Security Disability Insurance -LRB- SSDI -RRB- applications increased 21 % from 2.3 million in 2008 to 2.8 million in 2009 . In December of 2010 , there were over 2.5 million disabled workers in their 20s , 30s , and 40s receiving SSDI benefits . One in seven workers will be disabled for more than five years . These are statistic and disability claims from Social Security Administration , Disabled Worker Beneficiary Statistics , ssa.gov and the U.S. Census Bureau . If these numbers are any indication , then individual disability insurance claims may be similar .


Input: Can I Rent A Car Without Insurance?

Output: Mark has given you a good answer which I would like to expand upon . Always share where you are going with your agent.Even if your policy extends to temporary use of a substitute vehicles , -LRB- which many policies do -RRB- . Be sure your agent understands where you expect to rent . Most auto policies in the US have geographical limitations too . Note most policies in the US extend use and coverage into Canada . Note it does not say US , Canada andMexico Thereasonit does not , is that you have to buy your legal liability coverage from a Mexicaninsurereither as you cross theborder or from agents who can legallysellthat coverage . If you are traveling and renting a car in multiple countries I suggest you ask your agent for more information on umbrella policies which typically have some coverage world wide , but even then be sure your agent hasreviewedyouritinerary before you land in another country.IF you get there and have an umbrella , it is best to at least buy the minimum coverage available in the country while you visit . Keep this advice : do n't ignore the locals .


Input: Can I Rent A Car Without Insurance?

Output: Why would anyone want to operate a vehicle without insurance ? If you are asking if you must pay for the insurance offered by the rental company the answer is , no . If you have an insured vehicle the coverage from that vehicle extends to the rental car and so you may not need additional insurance . Rental companies rarely ask for evidence of insurance when I rent a car .


Input: Can I Rent A Car Without Insurance?

Output: This is really dependent upon the car rental company . They should allow you to rent a car without insurance although they may require you to purchase the insurance they offer . If you go this route , it 's important to get the liability insurance in addition to the Collision Damage Waiver as this only covers losses to the car . Also realize that they 're concerned about their own liability , not yours . Read the coverage carefully so you understand exactly who it 's covering . Is it just the car rental company or is it you , also .


Input: Can I Rent A Car Without Insurance?

Output: You must have insurance when you rent a car . You have the option to either purchase the insurance offered by the rental car agency or if you personal policy extends you have the option to use your own personal auto insurance coverage . Always check with your agent to see if your own insurance will cover you in a rental car . The rental car agency is not going to let you rent their vehicle without insurance .


Input: Can I Rent A Car Without Insurance?

Output: That is a great question ! By law , you have to be insured to drive a car . Now when it comes to rental cars , do you have to already have a policy ? Not necessarily - you may purchase a temporary policy from the rental agency ; check with your credit card company , many offer rental cars and insurance to drive them at a discount ; and sometimes your frequent flier cards are tied to rental car companies and deals also . I hope that helps , thanks for asking !


Input: How Much Does Veterans Group Life Insurance Cost?

Output: You can go to the following link to see how much Veterans Group Life Insurance costs : WEBSITELINK . Unlike SGLI , which has a set price per thousand dollars of coverage , VGLI costs vary according to age , so I am unable to provide one set answer for you .


Input: What Life Insurance Is Better Term Or Whole?

Output: Hey , wait a minute . You are leaving out what is in my opinion , the best of the best . This category is Equity Indexed Universal Life . It is permanent insurance , like whole , but at a lower cost , like term . It builds up equity , like whole , but is tied to the stock market , with none of the risk . It has a guaranteed bottom , and will never go down , but will go up , with a cap , when the stock market goes up . It allows your equity to grow much faster that whole , at a lower cost . You need to consider this product in making your decision . Talk with your agent . GARY LANE . garylane@cox.net . 7144229616 . Available through Premier Financial Alliance and National Life Group , one of America 's oldest insurance companies ! Thank you .


Input: What Life Insurance Is Better Term Or Whole?

Output: Which life insurance is better , Term or Whole Life ? It is a debate that has great points on both sides . In reality , most people need more life insurance than they can afford to purchase in Whole Life , but they do n't need that large amount of coverage for a lifetime . Term life is an economical choice for large amounts of coverage for relatively short amounts of time . On the other hand , most people need a small amount of final expense coverage , and this can not be Term insurance or there is a risk of it not being in effect at the time of death . Also , Whole Life can be used for estate planning , business succession , and other permanent needs that justify the higher premium , especially when , as Ted stated , cash value builds up to offset it . There is no one right answer for everyone , but there are many choices . A good agent will guide you to find the best policy or policies for your unique needs , desires , and budget .


Input: What Life Insurance Is Better Term Or Whole?

Output: It depends on your need . Term insurance is designed for temporary needs . To cover a mortgage or debts or provide a young family maximum protection while their family is growing . Whole life is designed to cover permanent needs such as final expenses and estate protection . While whole life is has a higher monthly premium , in the long run it is actually less expensive than whole life . Premiums for term insurance go up with each term period and there is no equity build up so it is pure cost . Whole life develops equity in the form of cash vale . The premiums are designed never to go up no matter how old a person is and the death benefit will be available when most people need it , in old age . When you subtract the cash value from the total premiums paid you get the true cost of the whole life , which in later years will be far less than the cost of term insurance .


Input: Can I Get Renters Insurance With Bad Credit?

Output: Here in Connecticut , insurance companies are able to use credit history as one of many factors in evaluating insurance . It would more than likely be possible for you to obtain Renters Insurance with a less than perfect credit score , but you will pay more than your neighbor with a better credit rating . Talk to your Insurance Professional about your options .


Input: Can I Get Renters Insurance With Bad Credit?

Output: In California insurance company underwriters do not take your credit score into consideration when approving a homeowners policy . If there was a claim in the past that appeared to have been arson , they might take a closer look . Incidentally , auto insurers in California do not pull your credit score either .


Input: Can I Get Renters Insurance With Bad Credit?

Output: That is a great question ! The answer is dependent upon where you live , and the company that your policy is with . You can certainly get a policy , even with bad credit , no problem . The price that you pay can be more though . If your State insurance laws allow the use of your credit rating as a factor in pricing , you can bet the company will . That said , I 'd offer you two pieces of good news . Most times your credit rating is n't as bad as you think it is ; and even with bad credit , renter 's insurance is n't going to cost you much . Do n't worry , go ahead and get it . Thanks for asking !


Input: Why Doesn't Medicare Cover Benzodiazepines?

Output: As of Jan. 1 , 2013 , Medicare does cover benzodiazepines . Xanax , Klonopin , Ativan and their generics are now covered by Part D Medicare for all medical conditions for which they are deemed medically necessary . Barbituates have also been added , but only for epilepsy , certain cancers , and certain medical conditions . Check your own Medicare Part D formulary to see which benzodiazepines are covered .


Input: Can I Switch Auto Insurance After An Accident?

Output: You can switch your car insurance at any time , but some times are better than others . If you have had an accident that is your fault , when you switch carriers after that , you may be paying a higher rate because of the claim . If you happen to be insured by a company that offers Accident Foregiveness , then you will find that when your policy renews , the premium wll not increase due to that accident .


Input: Can I Switch Auto Insurance After An Accident?

Output: Typically you can change insurance carriers at any point that you wish . You will need to sign with a new carrier before you cancel with the old carrier so as not to have a gape in your auto insurance coverage though . Your new carrier can more than likely assist you with the cancellation of the policy with the old carrier if you wish them to .


Input: What Is Disability Insurance Designed To Replace?

Output: Disability Insurance is designed to replace income that is lost due to an injury or illness that prevents you from working . If the policy covers `` own occupation '' , it will replace income lost by not being able to perform your old job . Without that specification , it will only replace you income if you can not work at all . Disability Insurance replaces approx 70 % of lost income .


Input: What Is A Safe Harbor Retirement Plan?

Output: A `` Safe Harbor '' retirement plan is one of the most popular 401 -LRB- k -RRB- retirement plans in the business community . Safe Harbor plans eliminate some of the administration hassles of adhering to IRS non-discrimination testing while maintaining the basics of a pretax defined contribution plan like a tradition 401 -LRB- k -RRB- plan .


Input: What Is The Best Medicare Insurance Supplement?

Output: Only you can decide which Medicare supplement insurance plan is best after considering your needs and budget . Medicare supplement insurance rates are based on your age , zip code , plan , tobacco use and -LRB- in some situations -RRB- your height and weight . All Medicare plans with the same letter are identical in every way ... except the price #GeorgiaMedigapPlanRates #GeorgiaMedicarePlans #GaMedigapQuotes


Input: Does Auto Insurance Cover Tire Damage?

Output: It may if you have a roadside assistance package on your policy . This would be an extra endorsement that is added to your policy . For many companies you must have collision and other than collision coverage to have this add on . Remember every policy is different . Read your policy completely to know what coverage you have and what exclusions there are or contact your local agent and have them go over the policy with you .


Input: What Month Am I Eligible For Medicare?

Output: Assuming you or a spouse worked , you are eligible for Medicare on the 1st day of the month that you turn 65 . For example , if your birthday is March 26th , then your Medicare Part A & B will start on March 1st . You can also make your Medicare Supplement effective on the same day . You can also set it up in advance so that you know everything is handled . For instance , your independent agent can submit your Medicare Supplement application 90 days -LRB- and sometimes longer -RRB- before your effective date . If you would like more Medicare information or would like to compare Medicare supplement plans visit our website at SummitMedigap.com .


Input: What Month Am I Eligible For Medicare?

Output: You are eligible for Medicare the first day of the month you turn 65 . You are not automatically enrolled in Medicare when you turn 65 unless you are currently receiving Social Security or Railroad Retirement Benefits . If you are not currently receiving Social Security or Railroad Retirement Benefits you must request your Medicare coverage by applying online or going to you local Social Security office .


Input: Can I Get Long Term Care Insurance If I Have MS?

Output: It is very difficult to get Long Term Care Insurance while having MS. Long Term Care Insurance companies are especially sensitive about insuring those who have health conditions that could develop into trouble with doing Activities of Daily Living independently . However , some long term care type riders on Life Insurance are allowed for a person with multiple sclerosis , and `` living benefit '' life insurance policies might also fill that need . Talk to an agency that specializes in life insurance for persons with MS to see your full range of options .


Input: Can Renters Get Flood Insurance?

Output: A person who rents a home may purchase flood insurance if they wish . You will simply need to call your current agent or any independent agent and they will be able to help you in obtaining flood insurance for your contents . The policy will only cover your contents and not the building of the landlord . .


Input: How To Get A Home Insurance Quote?

Output: You get a quote on homeowners insurance from your insurance agent . If you do not have a trusted agent get recommendations from friends , colleagues or neighbors . A good agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . Setting limits is the most important thing done by an agent . When limits are correct , claims get paid and you will be happy .


Input: How To Get A Home Insurance Quote?

Output: That is a great question ! The best thing to do is do a little homework , and then hit the internet . By homework , I mean do two things - first , have an idea of what value you want to insure . Know that value of the home , and search for a program online -LRB- there are several -RRB- that will help you appraise the approximate value of your belongings . Include everything that you might have to replace , should disaster strike . Secondly , ask everyone that you know who they use , what kind of customer service they 've received , and how they like the company , and if they will tell you , approximately what they pay . Then hit the internet , and start looking at companies and agents near you , or that were recommended . Get several quotes , and then choose from those . Remember that often getting coverage from your life or auto insurance company can result in substantial discounts on all of those policies . I hope that helps , thanks for asking !


Input: How Does One Plan For Retirement?

Output: You plan for retirement by surrounding yourself by professionals that will give you sound unbiased advice . You also formulate and implement a financial plan that is constantly monitored and updated as needed . You assume that the unimaginable will happen , even if it seems terribly remote . You start saving early in your life , even if it 's only a few dollars at a time . Diversify , take only the amount of risk that you are comfortable with , and let the professionals I previously mentioned meet with you on a regular basis to review and revamp , if needed . This worked for me and it will work for you .


Input: How Does One Plan For Retirement?

Output: You plan for retirement by starting to develop a relationship with a professional who can assist you . Notice that I said , Start because retirement planning is an ongoing process of making adjustments . Even the goals that you initially set will change in most cases and adjustments will be necessary . The second important thing to realize is that it isnt the performance of investments but the commitment to shifting capital that will develop the money you will use to have a successful retirement plan .


Input: How Does One Plan For Retirement?

Output: First establish your time to retirement , how long until I retire ? Then create an investor profile to establish your risk tolerance . What is the beta -LRB- volatility -RRB- of the investment youre considering ? Then estimate you income tax as a percentage of your gross income . What was your gross , what do you actually pay the IRS . This helps determine if you should use a qualified plan . You should probably use a qualified plan if your employer matches your contributions . Diversification is a key component of constructing a retirement plan . Diversification in your investment portfolio . Diversification in short , midterm and long investment periods . Diversification in taxation : taxable , tax deferred and tax free . This all matters when you take distributions from your retirement plan later in life .


Input: How Does One Plan For Retirement?

Output: How does one plan for retirement ? First thing is to make the decision to set aside today 's dollars for a future use . You have to decide to make the commitment to set aside funds , leave them alone while growing and consistently contribute to this future goal . This means living on less to today , so you can live with more tomorrow . Once you 've made that commitment to yourself , it is good to find an investment professional that will explain your options and the choices in front of you . Avoid the one trick pony advisors who beat one and one choice only into your head . There are many ways to get there . The goal is to consistently save in one or more choices to get you there .


Input: Does Renters Insurance Cover Food Loss?

Output: Standard renters ' insurance does not cover damage to property from flooding . A separate flood policy is available through most insurance agencies , as part of the Federal flood program . Usually , the coverage that is most important to the renter is for contents that could possibly be damaged as a result of flooding .


Input: Does Safe Auto Offer Motorcycle Insurance?

Output: I would check your states insurance commissioners office they can tell you what carrier is appointed in your state and what they can or ca n't sell . Call the carrier direct or call your local agent they should be able to get the information for you easily and if not they should be able to direct you to someone who can help .


Input: Does Homeowners Insurance Cover Boilers?

Output: Homeowners policies cover your `` dwelling '' and that would include any service equipment which is physically attached to the dwelling including boilers used to provide heat . Assuming you have a standard Homeowner Policy Form # 3 or its ' equivalent or better , the boiler would be covered for `` risk of direct loss '' unless specifically limited or excluded . You will find an exclusion for any loss `` caused by '' wear and tear , mechanical breakdown and such but note this exclusion does n't exclude any loss `` resulting from '' mechanical breakdown or wear and tear to your boiler . So I would conclude your homeowner 's policy should provide coverage for your boiler should it be damaged from some external cause and also for damage `` resulting from '' any internal cause .


Input: Can You Change Homeowners Insurance?

Output: You can change homeowners insurance whenever you want . If the premium is figured in with your mortgage , the new company can set it up the same way and it is usually a fairly smooth transition . If you are nearing your anniversary date on the policy , try to make the change before the mortgage company pays the old company . It will make the transition easier .


Input: Will Medicare Cover You Overseas?

Output: Original Medicare has some coverage outside the United States , but is limited to the US Virgin Islands , American Samoa , Guam and Puerto Rico . In some situations Medicare will pay a portion of your hospital and outpatient medical bills if you have a true medical emergency . You should consider two things when traveling outside of the country . One is a Medigap policy that includes foreign medical coverage and two , an international travel medical plan .


Input: What Can I Do If My Car Insurance Is Cancelled?

Output: If you can correct the cause of the cancellation , you can apply for new insurance . If you can not , such as a DUI , then you must look to agencies that handled impaired risks . In most states there is a program where especially difficult risks are assigned to insurance companies . These policies generally provide minimal coverage but satisfy DMV requirements .


Input: What Can I Do If My Car Insurance Is Cancelled?

Output: Cancellations for non payment of premium may be able to be reinstated , provided that there has not been a history of such cancellations . Here in Connecticut , even if reinstated , they may be processed with a lapse in coverage . If that occurs , you will eventually receive a fine from the CT DMV covering that lapsed period as maintaining car insurance is required by law . If your car insurance is cancelled mid term or non renewed as a result of a serious infraction , you will be notified well in advance of that action so you can either remedy the cause , or obtain other , probably more expensive , coverage to avoid an even more costly lapse in coverage .


Input: What Can I Do If My Car Insurance Is Cancelled?

Output: That is a great question ! The answer really depends upon why it was cancelled . If it was a couple of missed payments , you can usually be reinstated if you pay what you owe . If it was because of a suspension , you may be able to get it reinstated if you complete the terms of the suspension . If it was because of something worse , you may be out of luck , or forced to look for a `` last resort '' insurer , and be prepared to pay a ton for a little coverage . I hope that helps , thanks for asking !


Input: What Term Length Should I Get For Life Insurance?

Output: You should get the length of Term Life Insurance that suits your particular need . E.g. . If you are expecting a child , 30 year Term is a good length . That would get your child through college and maybe even pay for her wedding , if you would tragically pass away before then . If you have a small business loan , the SBA usually requires a 10 year Term Life Insurance Policy . If you want life insurance to pay for your funeral , permanent insurance is best . It just depends on your need .


Input: What Term Length Should I Get For Life Insurance?

Output: Life insurance coverage is an issue of amount and duration of protection . Most people have current financial liabilities , future obligations and some charitable intent . The question is how long will these financial exposures last ? If there are ongoing past 30 years , then permanent life insurance is the better option . If these financial exposures are temporary , then term life insurance is the option and it 's old in increments of five years , i.e. 5 , 10 , 15 , 20 , 25 and 30 years .


Input: Can I Get Insurance On A Car That Does Not Belong To Me?

Output: An auto policy covers an automobile , not a driver . If you are not the owner , and dont have any other insurable interest , you can not be named as the insured on the policy . The information about being a loan holder is important . You named to be named on the policy as a lienholder . If you lease the car to someone else than you also need to be named as the additional insured .


Input: Can I Get Insurance On A Car That Does Not Belong To Me?

Output: You ca n't take out the insurance policy yourself . But if you have an ` insurable interest ' in the car , IE . you are holding the loan , then you can require the other person to add you as an additional insured . Which just means that in the event of an auto wreck , and the car is totaled , you will get paid what you are owed -LRB- the lien -RRB- .


Input: Can I Get Insurance On A Car That Does Not Belong To Me?

Output: Actually there are a hand full of carriers that will allow you to be the named insured and take out a policy on a vehicle you do now own . It is rare and unusual but it does exist . I have written these types of polices in the past and can do so today as long as your in California and qualify in accordance with your driving record .


Input: Does Health Insurance Cover Wisdom Tooth Removal?

Output: Great question ! The answer , probably not so much . Hopefully you have a dental coverage included , if you have the policy through your employer as most of the expenses will be billed as dental , and not health . If you have dental , you should be ok . If you do n't , some portion of the cost can be covered by your health insurance , but I would expect that most wo n't be . If that is the case , ask your dentist and oral surgeon if you can set up payment plans with them , so that the work is affordable . If you would like more help , please feel free to contact me , I 'm happy to help . Thanks for asking !


Input: Where Can I Get Cheap Renters Insurance?

Output: Cheap Renters Insurance is available online ! In order to obtain the cheapest renters insurance , you would need to select the lowest available personal property coverage , the lowest available personal liability limit and the highest available deductible . For those mandated by contract to carry renters insurance and are not interested in purchasing renters insurance , this would be the cheapest way to go ! There is a link providing an online format to obtain a quote and buy renters insurance online in multiple States ; may be useddirectly by customers . An exemplary online experience for all ! WEBSITELINK


Input: Does Renters Insurance Cover Auto Theft?

Output: Renters insurance covers your personal property in the event of a covered loss . Theft of your vehicle would be covered under comprehensive coverage on you auto policy subject to your deductible . The contents of your auto are potentially covered through your renters insurance subject to your deductible and the policy limits and exclusions . Please remember every company and policy is different . To know what coverage is provide readyour policy completely or call your local agent to have them go over the policy coverage with you .


Input: Does Renters Insurance Cover Auto Theft?

Output: If your asking will renters insurance cover a stolen car the answer is no . Auto insurance comprehensive coverage will cover a stolen car . If you asking if any of your personal items left in the car are covered for theft then the answer is theft from a vehicle is a covered peril . Now it would depend on what the item actually was that is in question and will the stolen item meet the deductible . Also if the auto was damaged during the incident you could potentially have two claims . One one the auto for the damage to the vehicle and on for your personal property that was in the vehicle . Also please note , items permanently mounted to your auto are part of the auto .


Input: Can I Drive An Insured Car Without Insurance?

Output: Many people drive cars without insurance . It is illegal in most states . It is foolish . An uninsured accident could result in the driver losing everything that they own , and face legal action . The fact that many people drive uninsured cars is the reason that you need uninsured and underinsured auto coverage as a part of your auto policy .


Input: Can I Drive An Insured Car Without Insurance?

Output: Great question ! What you need to understand is that it is n't the vehicle being insured that matters , it is the driver . The car itselfwill not hurt or kill someone , it is the person driving the car that causes the car to hurt or kill . Please do not consider trying to shortcut not having insurance . the penalties will far outweigh whatever it would cost you to have it . Thanks for asking !


Input: Will Health Insurance Pay For Labiaplasty?

Output: As a general rule , Labiaplasty is considered a cosmetic procedure and therefore it is excluded from coverage for notmeeting medical necessity requirements . Are there situations where a Labiaplasty would meet the criteria for medical necessity and then be covered as any other covered condition ? Yes . Some women experience issues that are best medically addressed using this procedure . However , you should approach this kind of potential claim with the understanding that your insurance carrier 's first instinct will be to see this as a cosmetic issue not a medical one , even if a cursory medical diagnosis is made . Be prepared to truly demonstrate medical necessity and understand what your carrier 's criteria for medical necessity are when you approach them on a procedure of this type . It is a procedure that has grown in popularity as a cosmetic procedure and so attempts to camouflage the cosmetic procedure under a thin cover of medical necessity are hardly unheard of .


Input: When Can I Change Medigap Plans?

Output: If you have a standardized original Medicare plan like say an `` F '' plan you can change your plan anytime during the calendar year . However , you will be required to go through underwriting to qualify for the new company plan . Medicare Advantage plans are the plans where you are restricted to only change plans during the open enrollment period which for 2014 runs from October 15 to December 7 .


Input: Why Is It Important To Plan For Your Retirement?

Output: With people living longer , while companies are paying out few pensions , it is very important to save and invest for your retirement . Otherwise you could find yourself living many years having to pinch pennies to lead a good quality of life . Yes , Americans can -LRB- and must -RRB- work longer than years past , but not everyone has the health and stamina to do so . Planning for retirement is essential so that your later years of life can be as fulfilling as the years you spent working .


Input: Why Is It Important To Plan For Your Retirement?

Output: Perhaps the easiest thing to put off is planning for retirement . The benefits of starting early are great and the penalties for not are severe . Remember the magic power of compound interest fueled by the rule of 72 , -LRB- years to doubling equals 72 divided interest rate -RRB- example 10 % doubles in 7.2 years . You no doubt have seem the tables how much more a 25 year old can accumulate by starting early . Start early get more , have more choices and planning opportunities . If you do not plan then unless you are very fortunate to have a very generous and well funded company pension plan you could find yourself with little more income other than the basic social programs . 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 Retirement Planner , you could start with a Google search . For example , if you search for : retirement planner Halifax or retirement planning Halifax , my name , along with several others , will come up . You can use the same method to find Retirement Planners in your community .


Input: Is Disability Insurance Tax Free?

Output: If you pay your disability insurance premium with money that you paid income taxes on , your disability benefit should be tax free . It is a big advantage to receive disability benefits tax free , because becoming disabled brings with it extra expenses and challenges . While disability benefits are not 100 % of what prior income was , not having to take out taxes could make them equivalent -LRB- or even higher -RRB- than your take home pay previously was .


Input: Is Disability Insurance Tax Free?

Output: Disability insurance benefits are supposed to be tax free if you -LRB- the individual -RRB- had paid the premiums for that policy with your own after-tax dollars . You should consult your own legal or tax advisor in your resident state for full clarity to this question , since I am neither an attorney or an accountant .


Input: Is Disability Insurance Tax Free?

Output: Is disability insurance payments considered tax free ? It will depend on how you paid your premiums . If you used after tax dollars for the premium then no , your benefit would not be considered taxable income . If you depending on your situation were able to write off or use pre-tax dollars for premiums then , yes your benefit would be taxable .


Input: Is Disability Insurance Tax Free?

Output: In Canada , if you personally pay the premium of an individual or group disability insurance then the benefit is tax free . If the company pays the premiums then the disability benefit would be taxable . In some corporate situations it is possible to structure individual policies so that the company deducts the premium and it is not considered a taxable benefit to the employee . However , if the employee is disabled the benefit are taxable . To offset the disability benefit being the amount you are allowed to qualify for based on your income is increased . 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: How Do Life Insurance Agents Get Paid?

Output: Life insurance agents mainly get paid by commission on the new policies they sell . There is a small commission paid for permanent policies for each year that their clients hang onto their permanent policies . Some agents are paid salaries , but their employers get the money to pay their salaries through commissions .


Input: Does Homeowners Insurance Cover Defamation?

Output: Ordinarily no , but check with your Insurance Professional about the specific terms and conditions of your policy . Though all Homeowners Insurance policies these days include coverage for Liability loss , that does not necessarily include defamation as a covered peril . Liability coverage protects you in the event you are legally liable for causing someone physical injury or damaging their property . Some companies , like Nationwide for example offer optional `` Personal Injury '' coverage that can be easily and inexpensively added to your Homeowners coverage .


Input: Does Homeowners Insurance Cover Defamation?

Output: That is a really great question ! You actually may be covered by the liability section of your homeowners coverage . The liability section -LRB- and you want to check with your agent to be sure of your specific coverage and limits -RRB- can cover a range of legal issues , and can help cover costs for your defense costs , settlements , and damages . Thank you for asking !


Input: What Is A Life Insurance Trust?

Output: A life insurance trust is an irrevocable , non-amenable trust that is set up for the purpose of being owner and beneficiary of one or more life insurance policies . A life insurance trust generally exempts the life insurance policy from estate tax . The trust also can spell out how the Trustee should manage the death benefit so it best serves the needs of specified minors . Before deciding to set up a life insurance trust you should consult a reputable life insurance agent and lawyer . Some things to consider are that the Insured person can not be the Trustee , and only the Trustee can change the beneficiary . Also , the Insured person can not borrow from the life insurance policy .


Input: What Is A Life Insurance Trust?

Output: A life insurance trust separates ownership from the insured 's estate for estate tax reasons . While life insurance is generally income tax free , it is not estate tax free . If estate taxes are going to be an issue for a family in the future , it is a good idea to consider as it pulls those assets out of the taxable estate and can be set up to pay towards the insureds estate tax bill .


Input: How Do I Choose A Medigap Plan?

Output: It can be overwhelming research Medigap on your own . The best way to choose a Medigap Plan is to work with an independent agent . Trying to navigate the internet is time consuming and actually limits your Medigap choices . However you wish to proceed , make sure you look at a comparison chart and Outline of Coverage for the 10 standardized Medigap Plans . They each have varying benefits . You 'll want to determine which benefits are important to you and which Medigap plan best fits your budget . The two most popular plans are Medigap Plan F and Plan G. Medigap Plan F will cover all the gaps in Medicare coverage . You do n't have to meet any deductibles , co-pays or co-insurance . Medigap Plan G acts just like Plan F -- after you 've met the small $ 147 annual Part B deductible -LRB- 2014 -RRB- . Medigap Plan G 's premium is often lower than Plan F . If you would like assistance in comparing plans and premiums , please contact me . My personalized service is always free .


Input: How Do I Choose A Medigap Plan?

Output: The first thing to consider is what is important to you . Do you want to minimize out of pocket expenses ? Do you want to be able to see a doctor without a referral ? Do you want the flexibility to see anyone you like ? All true Medigap Plans have a letter to tell you what plan it is -LRB- i.e. Plan F , Plan G , Plan J , etc. -RRB- . Any plan that does not have a letter is not a Medigap Plan . The best place to start is to call a independent insurance agent that specializes in Medigap Plans . They should be able to show you everything that is available to you in the market and help explain what all the different plans cover . It will save you weeks of research . We have taken it a step further . You can go to our website at SummitMedigap.com and compare Medigap Plans instantly online . We can help answer all your questions at 1-888-407-8664 .


Input: Can You Buy A Home Without Title Insurance?

Output: I believe that you can buy a home without title insurance . Title insurance is a service and a guarantee . The insurance provides that the title is clear . The title doesnt have any liens or obligations that havent been disclosed . An attorney can draw up the documents of sale and I believe that the attorney can do that without title insurance .


Input: Does Medicare Cover Epipen?

Output: I looked in a few formularies and epipen shows up in all . It 's generally Tier 3 which is generally $ 45 . When you go to buy a plan , be sure to check the plan 's formulary to be sure . And it does n't hurt to double check at each open enrollment to be sure that it 's still covered , and at the same tier level .


Input: How Much Tax Is Paid On Life Insurance?

Output: As a general rule , the Death Benefit on a life insurance policy is not taxed . That is what makes purchasing life insurance advantageous . While life insurance death benefits are generally excluded from income tax to the beneficiary , they are included as part of the estate of the deceased if the deceased was the owner of the policy at the time of death . But unless you have a large estate generally you do not have to worry about estate taxes . There may also be some rare exceptions to this but in most cases there is no tax on a lump sum payout to the beneficiary .


Input: How Much Tax Is Paid On Life Insurance?

Output: Life insurance proceeds may be subject to state or federal inheritance taxes or estate taxes . There are ways to structure the ownership of your policy to minimize or eliminate state and federal inheritance taxes . If the proceeds are held by the carrier for months or longer , the proceeds will accumulate interest payments which are taxable to the beneficiary .


Input: Is Critical Illness Insurance A PPI?

Output: PPI , or payment protection insurance , pays a lender if the borrower is disabled , laid off or fired , or deceased . Critical illness insurance usually pays the insured person if they become seriously ill with a life threatening health condition . Sometimes the critical illness policy will go directly to medical bills .


Input: Is Critical Illness Insurance A PPI?

Output: A Critical Illness Insurance policy is not the same as a PPI -LRB- Payment Protection Insurance -RRB- policy . With Critical Illness coverage , the person who has the policy will collect a cash benefit if he/she suffers one of the serious illnesses listed on the policy . With PPI , loan payments will be made to a lender if the person on the policy is unable to work due to illness , injury , or job loss .


Input: Who Should I Buy Disability Insurance From?

Output: You should purchase any insurance product for an independent insurance agent or insurance licensed registered representative and not a career agent who touts his/her proprietary productline . If possible , interview them with disability insurance in mind . There are not many in this field and without help from a disability specialist , may not be able to recommend the right product or ancillary riders .


Input: Who Should I Buy Disability Insurance From?

Output: Who should I buy disability insurance from ? That 's easy , in Washington state that would be me . Elsewhere it would be good to find an agent who can give you companies you can compare definitions with . Why definitions instead of price ? Definitions in a disability policy are the most important aspect of a plan . Having a cheap premium for a policy that wo n't pay out unless the perfect storm happens is no bargin .


Input: Will Medicare Cover Surgery?

Output: If a surgery is considered to be medically necessary by your physician , then Medicare will cover it -LRB- regardless of whether it 's an inpatient or outpatient procedure - assuming you have both Part A & Part B of Medicare -RRB- . Elective procedures -LRB- e.g. cosmetic surgeries -RRB- would not be covered by Medicare and you would have to pay for it 100 % out of your own pocket . If you 're unsure if your surgery would be covered , ask your doctor or call Medicare directly to find out . I hope the input helps - please feel free to contact me if you have any other questions . Thanks very much .


Input: Will Medicare Cover Surgery?

Output: Medicare covers most surgery , in or out of the hospital , as long as the procedure is considered medically necessary . Routine cosmetic surgery is normally not a covered item but most reconstructive surgery is covered . Your surgeon should be aware of Medicare rules and can advise you . If in doubt , ask your surgeon .


Input: Does Auto Insurance Pay For Windshield Replacement?

Output: Windshieldreplacementwould be covered under your comprehensive coverage breakage caused by flying objects , falling objects or vandalism minus your comprehensive deductible . If broken in acollisionthen the windshield would be replaced as part of the over allcollision Many Insurance carriers will fix a small rock chip at no charge so you want to check with your local agent on the details of the loss .


Input: Which Country Has The Best Retirement Plan?

Output: Not many sovereign nations have `` retirement plans . '' Some have supplemental retirement benefits . Declaring one better than another attempts to make too broad a statement about the program features . Since everyone varies with respect to needs , its very difficult to say that one country 's program -LRB- if one exists at all -RRB- is better than another .


Input: How Much Car Insurance Can I Afford?

Output: This is a question that only you can answer as I am not aware of the funds that you have available to pay for the coverage that you seek . I would suggest contacting a local agent in your area to discuss your coverage needs and desires so that they can provide you with the information that you need to make an informed decision .


Input: Does Renters Insurance Cover Guns?

Output: Many policies include coverage for things like jewelry , guns , and electronics to mention a few less the policy deductible and up to the policy limits . Things like guns are normally capped for coverage limits within the policy and would normally be covered through a policy endorsement . Read your policy completely to understand the coverage provided and any exclusions that my be contained within the policy .


Input: Does Home Insurance Typically Cover Pet Damage?

Output: Bad dog ! Fido ! How could you do that ? No Beggin Strips for you for a year and you can forget about that brand new diamond-studded flea collar . And ... you 're sleeping in the garage tonight , not in your bed upstairs ! OK ... Back to the question . Often , the liability portion of your policy covers damage that your pet may have caused to other persons outside of your home .