Input: Would A $600 Property Damage Claim Raise My Car Insurance Rates?

Output: Talk to your Insurance Professional about the specific terms and conditions of your policy . As my colleage said , each company is different and thus handles at fault losses differently . If your company includes a `` first accident forgiveness '' benefit in your policy , then you would not be surcharged . Some companies may not surcharge for the accident per se , but if you are receiving a discount for being accident free for a number of years , that discount may be removed at which point you would see an effective rate increase on your bill . Your state law may also be a factor in that in many cases , a certain minimum amount of loss must be met before a company may surcharge . If you are in a state where that minimum is $ 1,000 , then on a $ 600 loss , they would not surcharge .


Input: Would A $600 Property Damage Claim Raise My Car Insurance Rates?

Output: Was the acident your fault ? How long have you been insured with the carrier ? Are you currently receiving a `` good driver discount '' ? Are you getting a `` refund '' from the company each year for `` claim free driving '' ? Are you better off `` swallowing '' this bill and not file a claim ? Some of the companies allow the first claim and not charge it to your record . It is not easy to answer your question because every company is different .


Input: If Donald Trump Becomes President Is It Possible That He Can Get Rid Of Obamacare?

Output: In all honesty the ACA or Obamacare as you call it , is n't going anywhere . It 's here to stay as it has been very successful getting off the ground . It will evolve over time to fix the bugs that are in it , but going away ? Nope . Here 's the thing I have been an insurance agent just about 28 years . Every one of those years there was some sort of change involving health insurance , every one . The ACA is simply just another plan change .


Input: If Donald Trump Becomes President Is It Possible That He Can Get Rid Of Obamacare?

Output: Anything is possible but the question now is do they continue to insure people with pre-existing conditions or do we go back to the old days where you had to prove that you were insurable to get coverage . My guess is that they will need to revamp obamacare to make it more affordable so that insurance companies will want to be a part of it again .


Input: If Donald Trump Becomes President Is It Possible That He Can Get Rid Of Obamacare?

Output: Despite assertions to the contrary , it is entirely possible that Obamacare -LRB- AKA the ACA -RRB- could be eliminated but Trump wo n't have the power to make that change by himself . Many point to the Supreme Court rulings as legitimacy but they were made on narrow points of law and the power of the purse will have be an effective means of gutting the law -LRB- if that is a course chosen -RRB- . More likely , the plan will be fundamentally altered . As a plan it has reached well past what most Americans consider reasonable and one of the undeniable aspects of Obamacare is the subsidy system which phases out over a period of several years . Once the subsidies die many of those who are receiving subsidized premiums will again find their insurance to be too expensive . Additionally , when the IRS begins assessing people penalties for failing to maintain coverage , attitudes will shift back towards a voluntary insurance programs . Frankly , the most logical outcome with Obamacare is significant changes to structure and subsidies and a relaxation of onerous and overbearing aspects of the law that politicians will have to consider to make it more universally acceptable among health care and the population . Maybe more importantly , some speculate that Obamacare is already in financial trouble but the real test is in seven or eight years when all the back end loading of losses will overwhelm the premiums and result in a political uproar when the actuaries insist on gigantic infusions of tax money to keep social medicine afloat .


Input: If Donald Trump Becomes President Is It Possible That He Can Get Rid Of Obamacare?

Output: That is a great question ! Let 's assume for a second that Mr. Trump -LRB- or someone from his party -RRB- becomes our next President . We all know that his party was never much in favor of Obamacare , -LRB- even though many , like Ted Cruz , have it -RRB- and would like to see it thrown out . Doing so , however poses a couple of challenges . The first is that there are millions of voters who received health insurance for the first time because of the Act . These folks might not take kindly to threats of removing the care they are finally being able to get . Unless there is a well thought out plan to allow them to keep their newly-gained insurance and health care services , -LRB- which to my knowledge no candidate had laid out , or even suggested exists -RRB- , there is a fair chance they vote against the party that suggests taking that care away . The second is that their main points of attack have been upheld by two separate Supreme Court rulings . That would require some serious rewriting of the Act to enable changes to pass Congress , and at this juncture , it appears that Congress , and the party of Mr. Trump , are so dysfunctional that they could n't pass go , let alone a finely crafted bill that would require a majority on one page . That said , I certainly believe that there will be attempts to change how it 's funded -LRB- though it has actually saved money overall , and lowered costs -RRB- because we seem to have a Government that favors those who have a lot already , at the expense of those with little . Whether those attempts pass will be decided by how the Congress is made up after the election . The President alone can not pass anything on his own , or make changes , so it will be up to Congress to decide . If this is a concern for you , I would highly advise that you take the opportunity to let your voice be heard , and speak with your vote . If you do not exercise your right to speak when it is your chance , you give away your right to complain about it later , you know ? Great question , thank you for asking it !


Input: If Donald Trump Becomes President Is It Possible That He Can Get Rid Of Obamacare?

Output: Regardless if Donald Trump or any other candidate wins the Presidential election and promises to repeal the Affordable Care Act or Obamacare as you referred to it , it is not very likely . There are a lot of steps to repeal a law of this magnitude other than who is sitting in the White House . Consider the Supreme Court upheld it not once but twice . It will take two thirds majority of the House and Senate to repeal a law of this size . There have been numerous health insurance companies go out of business or sell to other larger insurance companies . There is an estimated 100,000 plus health insurance agents that surrendered their licenses due to this law . To repeal it , would open the lane to lawsuits galore , not the Federal government , but many levels and agencies that can be sued . Like it or hate it , I believe the ACA law is here to stay in one form or another .


Input: Does Smoking Void A Life Insurance Policy?

Output: Smoking will not void your life insurance policy . It will just cost you more premium . It 's generally around 25 % higher for cigarette smokers . If you lied about smoking that is a different question . That is insurance fraud . Yes , in some cases that would allow the insurance company to not pay the death benefit .


Input: Does Smoking Void A Life Insurance Policy?

Output: In addition to the good information given by the others on this page about smoking AFTER a policy is put into effect , I will address smoking while applying for life insurance . If you put on your application that you do not use tobacco , but then evidence of smoking is found in your labs or medical records , the application will usually not be voided . The insurance company will charge smoker rates , and if you have a health condition that is harmed by smoking , the application could be declined . Also , lying on an application about smoking then makes everything on the application suspect . This can also cause an increase in life insurance rates .


Input: Does Smoking Void A Life Insurance Policy?

Output: If you were not truthful on your application and lied about tobacco use , in some cases a carrier can void the policy if the misrepresentation is discovered within the first two years of issue , especially if death occurred during the contestable period . A more likely situation -LRB- if the policyholder is still living -RRB- is the carrier will backcharge you for the difference in a standard non-tobacco rate and the tobacco rate .


Input: Does Smoking Void A Life Insurance Policy?

Output: Depending on the state of issue , yes not being truthful about smoking on the application can and does `` void '' the policy , even past the two year contestability window . In my state , lying on the application voids the contract , so insurance companies who in the past just paid out what the premium could get at the smokers rate were told to just refund premium paid . No death benefit was allowed . If you fill out an insurance application , make sure that you read any special considerations attached to the application for your state of residence .


Input: Does Smoking Void A Life Insurance Policy?

Output: Great question . It all depends on the stituation . If you buy a life policy and did not smoke and started to smoke after you purchase the policy . It would be okay . If you lied on the application and you died from smoking issues the insurance company will look at the claim and investigage it more .


Input: Does Smoking Void A Life Insurance Policy?

Output: Fully underwritten life insurance policies require you to declare whether or not you use any tobacco products . Although cigars and pipes are smoked , the question seems to suggest cigarettes . Cigarette smoking shortens life expectancy , so smokers pay more for life insurance . If smoking is declared on the application and the life insurance company offers an underwriting decision after the due diligence process , a death claim will be paid . If the insured takes up smoking after the policy has been issued as a nonsmoker , the life insurance company will pay the claim . It is the circumvention of truth that may indeed be classified as fraud that could void the policy in certain states or reduce the death benefit based on smoker rates at the date of issue . Some occasional smokers attempt to beat the urine analysis detection of cotinine , the byproduct of nicotine , by not smoking 8-10 days before the exam banking on their body chemistry to purge the continine from their systems . But you would have to lie on the application . And again , lying on the application could be considered fraud in some states . My advice : There is one life insurance company that offers nonsmoking rates to smokers for three years in an attempt to give the insured time to quit smoking . We can help with that . But bottom line : do n't try to game the system .


Input: Why To Buy Whole Life Insurance?

Output: Why buy whole life insurance ? Well I bought whole life for several reasons , maybe they apply to someone else , maybe not . Life insurance is a personal choice . I can only really tell you why I bought it over term . First , I planned on living as long as possible , term does not work if I do that . Then I like that the death benefit increased over time to help battle inflation . I liked that the cash values were mine to do with what ever I like with . I do n't have to ask permission to take money out or put money back , it is mine to decide . I like that the price is locked in . I like that the insurance company can not come back later and increase my costs . I have control . I like that when my health changed and I became uninsurable that I had policies I controlled that they could n't price me out of or change the terms of . They were mine , purchased when my health was excellent . Twenty years later , when my health went south , the policies did n't . I like that my cash values did n't count against my kids FASFA contribution count . I really like that in 2008 when my real estate , market investments all took a big dump on my portfolio , my whole life did n't go backwards in value . In fact that year it was my most profitable portfolio item . I like going to sleep at night knowing my policies will be there for my family if I do not awake , but I really like that these policies will not let me down or be subject to the extreme market ups and downs that the rest of my portfolio is . This is just a few things I can mention . There are many many more but hey it comes down to what you actually want to happen , not what somebody else tells you what you should want . If it does n't fit what you want , do n't buy it .


Input: Why To Buy Whole Life Insurance?

Output: Because you want to be sure that your life insurance will always be there , regardless of your age or your health . It can never be canceled . It can never increase in price . So long as you pay the premium , you are covered and your family is protected , forever . And as it appreciates in value , which Term will never do , you can even borrow against it for whatever you want , and keep the money as long as you want tax free . If you repay the loan , it will keep the same death benefit , if not , it will be reduced by the loan . As it grows , you can even use the proceeds to pay the premium . Thank you . GARY LANE .


Input: Why To Buy Whole Life Insurance?

Output: That is a great question ! There are a couple of really good reasons why whole life may be a better fit than a term policy would be . The first is that it lasts as long as you do , and your payments do not change . What you pay the day you buy it is the same you pay years later . Your policy can not be changed if you have health issues , or taken away from you . The second is that if you need to borrow from it , there are no hoops or hurdles to jump through , it 's your money , and they write the check and send it without credit checks , etc. . The third is that as long as you keep it paid up , -LRB- and do n't die doing anything illegal -RRB- you are guaranteed to receive the death benefit . It does n't matter what is happening with interest rates or the market , you are getting the contracted amount -LRB- minus whatever unpaid loans you may have taken out -RRB- . I hope that helps , thanks for asking !


Input: Why To Buy Whole Life Insurance?

Output: That is a great question ! There are a couple of reasons why a whole life policy makes sense . One would be if it is purchased for a young child . The price is locked in at that low rate for their entire life , and many companies will offer the opportunity to increase that coverage without any questions . The second is that the policy does n't end , so there is no way that you can outlive it . Many senior citizens purchase the policy advertised on TV by the large senior citizen advocate company , only to find that it ends when they turn 80 . Given that the average life expectancy is 84 for women and 82 for men , for many that is a terrible surprise to find that the policy ends , and that getting another one is too expensive , or not available due to their health issues . The third is that no matter how badly your health declines , you have insurance that ca n't drop you , or raise your rates . When your term policy ends , and youwant to get another one , your age and health issues are re-evaluated when determining eligibility and price . Please feel free to contact me if you would like to discuss this further . Thanks for asking !


Input: Can I Add Someone To My Car Insurance Temporarily?

Output: Auto insurance follows the car , not the driver . If you loan your car to a licensed operator the insurance on your car continues to cover the car . If the person becomes a member of your household contact your agent and have that person included in the list of drivers in the household . If the driving record of the added driver is unsatisfactory , you will be offered exclusion for that driver and then that driver will not be covered .


Input: Will I Have To Pay A Fine For Not Having Health Insurance?

Output: In essence , yes you will . But , it is called a tax penalty , not a fine . Starting Jan. 1st , 2014 if you elect not to purchase a qualified health insurance plan -LRB- minimum 60 % coverage or what 's called a bronze plan -RRB- , you will have to pay a flat tax penalty of $ 95 for each uninsured adult and half that for children , up to 3 times the single fee or $ 285 -LRB- increasing to $ 325 per adult in 2015 and $ 695 per adult in 2016 , and adjusted to inflation and cpi after that -RRB- ; or 1 % -LRB- 2 % in 2015 and 2.5 % in 2016 -RRB- of your income above the filing threshold , up to a certain percentage -LRB- depends on your income bracket -RRB- of your total income , WHICHEVER IS GREATER ! Now , of course there will be some exemptions from having to pay the tax ... If you are incarcerated , have religious exemption , not a legal US citizen , or receive welfare and the insurance premium will exceed 8 % of your income . Plus , there will be some leniency for not having coverage if switching jobs or moving out of your insurers network , and you need some time to find new coverage ; which is expected to be a 90 day grace period . But , beyond that you will be penalized for any month you do not have a qualified health insurance plan in place . So , if you go one day over the 90 day grace period , you would be fined for one month -LRB- whichever of the greater calculations , divided by 12 months -RRB- .


Input: Can I Drop My Medicare Part B?

Output: If you have been automatically enrolled in Medicare Part A and B , and are still receiving group health benefits elsewhere , you can drop your Medicare Part B by following the instructions that came in your Medicare packet . There is no penalty to sign up later , in that situation . If you have been on Part B and are dropping it for some reason , be sure to call Social Security at 800-772-1213 before dropping it so that you have a thorough understanding of all the implications of that decision .


Input: What Does It Mean When Your Life Insurance Matures?

Output: If by mature you mean endows or the policy period ends , there are a few things that may happen.If the policy is whole life and has a maturity date , then the cash values exceeding basis will be taxed at ordinary income tax rates . If you have received policy loans and did not pay the loan interest , but used policy cash values to pay the charges , you will have a phantom income ordinary tax event on loans you have received and cash values remaining in the policy . In some polices coverage simply ceases . Highly unlikely , but all this could happen .


Input: What Does It Mean When Your Life Insurance Matures?

Output: A permanent life insurance policy will mature in most cases at age 100 . Some plans will endow -LRB- another word for mature -RRB- at age 95 while some at ages above 100 . When your policy matures the face amount is paid to you less any policy indebtedness . A mature policy will almost always trigger a taxable event .


Input: Does Renters Insurance Cover Loss Of Job?

Output: Sorry but a loss of job is not a covered peril of homeowners or renters insurance . Renters insurance only covers your personal property for specific perils . Personal liability in the event you are sued for bodily injury or property damage . Loss of use which pays to house you else-ware in the event your home became unlivable due to a covered loss and guest medical .


Input: How Does High Cholesterol Affect Life Insurance?

Output: High cholesterol alone can affect life insurance by raising the rates , if the cholesterol numbers are very high . However , if even moderately elevated cholesterol is in tandem with some other health issues , such as diabetes or sleep apnea , it can cause a red flag that perhaps those other health conditions are not being well controlled . If you are totally unaware of your cholesterol reading , you can get it checked before applying for life insurance , then ask your agent to find you the best possible rate that fits that number . If it is too high , it may be a good idea to start using a statin drug or other method to bring your cholesterol down before applying for a life insurance policy .


Input: How Does High Cholesterol Affect Life Insurance?

Output: High Cholesterol effects your efforts in purchasing life insurance by moving you away from the best possible class you could obtain , and if your level is high enough , a possible decline of coverage . High Cholesterol has been linked to heart problems and other ailments . Elevated cholesterol levels could lead to a heart attack and an early death . Something an underwriter accounts for .


Input: How Long Does It Take To Receive Renters Insurance Claim?

Output: A loss is settled when you and the insurance company agree on the amount to be paid . The company wants the claim settled as quickly as possible , and so do you . When there is cooperation the process can be rather smooth . There are facts that need to be settled and that process can take time .


Input: How Long Does It Take To Receive Renters Insurance Claim?

Output: That can vary depending on the extent and severity of the loss . If you have suffered a somewhat minor loss , say , for example , the theft of your bicycle , once the claim has been opened and the necessary documentation given to the claims professional , they may in many cases be able to issue a check to you on the spot . If you have suffered a more complicated and extensive loss , for example a fire , then the process would take a bit longer . If you have a `` replacement guarantee '' option on your policy , the initial checks would be issued based upon the depreciated value of your lost items , but as they are replaced , supplemental checks would be issued until the claim is fully settled . All property losses are , of course , subject to your deductible .


Input: Does An Inground Pool Increase Homeowners Insurance?

Output: I have an in ground pool in my own back yard and we absolutely love it . It 's great being the house that all my kids ' friends want to go to . But , does it increase my insurance premiums ? Not necessarily , although it probably should . I 'll explain why in just a moment . First , let 's look at what an insurance company wants if you do have a pool . The biggest thing they want is a fenced enclosure around the entire pool . They want to be sure that anyone who enters the pool intended to enter the pool . Also to keep animals and small children from wandering into the pool . It 's usually not a case of a premium increase , it 's a yes or no question . If you do what they want -LRB- fence -RRB- , they 'll usually insure you with no increases . If you do n't do what they want , they 'll just refuse to insure you . Now , why would your premium increase ? Because a pool brings more liability along with it . Bad things can happen even if you take precautions . I would recommend liability limits of at least $ 500,000 and , usually at least a $ 1,000,000 umbrella policy . Doing this may cost you a little more but it 's well worth it . It may be as little as $ 85/year or it may be a little more depending on your home , cars , and family . Be smart , spend small dollars now to avoid big dollars later .


Input: Does An Inground Pool Increase Homeowners Insurance?

Output: An in-ground pool in and of itself does n't cause an increase in Homeowners ' premium , however , it does vastly increase your liability exposure . Here in Connecticut , local building departments have very specific requirements with respect to fencing around an in ground pool and the gate mechanisms as well . Gates must be self latching for exampla , and fencing needs to be a certain height . Check with your building department about those requirements . Next talk to your Insurance Professional about the terms and conditions of your Homeowners ' policy and specifically about the amount of Liability protection it provides . It would be smart to increase that protection within your Homeowners ' policy and to also talk about adding the extra protection of a Personal Umbrella Liability policy to your insurance plans . These are usually available in amounts of $ 1 million and up and are very reasonably priced for the added protection and peace of mind that they provide .


Input: Does An Inground Pool Increase Homeowners Insurance?

Output: Good Question ! In NY , and on Long Island , most insurance companies will not increase your premium because you have a pool on the premises . Some insurance companies will not insure the home if you have a slide , diving board or if the pool is not surrounded by a gate with a locking mechanism . The short answer is no having a pool that is up to code will not increase your insurance premium . Hope this answer helps !


Input: What Is A Medigap Program?

Output: A Medigap plan is private supplemental insurance that is designed to cover many expenses not provided by Medicare . Some of these expenses are copays , deductibles , coinsurance and daily expenses from treatment . You must have Medicare Parts A and B to obtain a Medigap plan . You can easily shop online from reputable websites that are operated by experienced brokers . You can also contact a broker directly for specific quotes on the most competitive carriers in your area .


Input: Can Life Insurance Premiums Increase?

Output: Yes , unless they are guaranteed to stay `` level '' , life insurance premiums can increase . One of the biggest factors on how much life insurance costs , is the length of time for which you lock in your premiums . E.g. . If you buy a 10 year level term policy , the premium will be relatively low , but will only stay the same for 10 years . After that , the premium will increase drastically . However , if you buy a permanent policy with guaranteed level premiums , the initial premium will be higher , but you will never experience a rate increase . When you are approved for a life insurance policy , you will see right at the front of the printed policy how long your premium is guaranteed to stay level , and at what point the premiums could/will increase . If you are nearing a point in your policy where your premiums will go up , you might want to take care of that now , as you may have options now that will not be available after the premium increase takes effect .


Input: Can Life Insurance Premiums Increase?

Output: That depends on what you buy . If you buy term insurance , it can change each year , or if level term , at the end of whatever term you buy . Then it will go up since you are older and perhaps not healthy , and perhaps even uninsurable . That is why Whole Life is the best . It never goes up , ever . It is fixed for your lifetime , and builds up cash value , to even help you pay for it later on , or borrow against it for a home , or even for retirement . Call an experienced agent who can review your needs and give you the best alternatives . Gary Lane , Registered Agent , New York Life , 714 422 9616 .


Input: Can Life Insurance Premiums Increase?

Output: They can , yes , depending upon the type of policy you have so it is important to talk with your Insurance Professional . Some older term policies for example were designed to be annually renewable -LRB- ART 's -RRB- with each renewing year 's premium increasing to reflect your attained age . These older ART forms have in many cases been replaced by the more modern `` Level Term '' policies . These policies are contracts that lock in the premium you pay from the begininning for a time certain , usually 10 , 15 , 20 or 30 years . At the end of that designated time period , the premium will then increase and usually dramaticaly not unlike a `` balloon '' mortgage to use an example .


Input: What Will Homeowners Insurance Not Cover?

Output: Even though most homeowners policies are written on an all-risk policy , it has several exclusions . The first issue is that it doesnt cover normal deterioration , wear and tear . It is designed to make you whole if you suffer a covered loss . The two most significant exclusions are damage caused by flooding and by earth movement . These coverages can be purchased but at additional premium . There are additional exclusions , such as insect infestation . There are also some limits placed on coverage for things such as jewelry , guns , stamps and cash .


Input: What Will Homeowners Insurance Not Cover?

Output: These days , most policies list coverage exclusions and generally speaking , if something is not on that list , it 'll be covered . There are a couple of specific exclusions that you will find everywhere regardless of the company and state namely Flood and Earth Movement . In many cases , a policy can be endorsed to include damage by earth movement , but the only way to get flood damage protection is by purchasing a Flood Insurance policy .


Input: How Much Is Car Insurance Each Month?

Output: The best approach to purchasing auto insurance is to find an agent that you trust . Tell him specifically the car that you want to insure . The agent will take it from there . The price for coverage will vary a great deal and each policy is tailored to the vehicle and operator . The agent should be able to help you match your needs with your budget .


Input: How Much Is Car Insurance Each Month?

Output: Car insurance is different for everyone and I would recommend you contact a local agent or 2 and have them do quotes for you . There are so many factors that determine how much you can pay such as accidents , tickets , where you live , credit , age and much more . So to give you a price answer on this board is not something any of us can do . Although each company has different pricing independent agents can help to shop for you with many companies and find the right fit for you . Good luck and I hope you find the right fit


Input: How Much Does Medigap Plan C Cost?

Output: I presume you mean Medicare Part C. Medicare Part C was conceived in the 1990 's and offered participants an alternative to traditional Medicare . Most of the Part C plans were HMO 's and have very limited coverage area and limited provider networks . Most Part C plans are now available as Medicare Advantage plans , many of which also have limited geographic service areas , limited provider networks , and considerable out of pocket liability on a large claim .


Input: How Much Does Medigap Plan C Cost?

Output: It varies state by state and by your age , gender , tobacco use , etc. . You can go to my website and use the fre Medicare Supplement quoter all you want . But when you are ready to buy I recommend that you contact a local independent insurance agent that specializes in Medicare Insurance and let him teach you all about it . I do n't understand how you came to select Plan C if you do n't know the price of it . That is a very unusual choice .


Input: How Much Does Medigap Plan C Cost?

Output: There really is no way to answer your question without more detail . Medigap plan C is like all Medicare supplement plans . Your cost is determined by your age , tobacco use , gender , zip code and the carrier you pick . All Medigap plan C 's are identical in every way , except for the premium .


Input: What Services Are Covered By Medicare?

Output: You can go to Medicare.gov and literally look up procedures , treatments etc. in an alphabetical list . This more fully explains coverage and processes . Most doctors and their offices are aware of what is covered , what coding to use , etc. ... Before you have any treatment or lab work or procedure - always verify it is covered by Medicare or you could be left holding the bag . Hope this helps ! Belinda myseniorventure.com/answers


Input: What Services Are Covered By Medicare?

Output: Original Medicare covers most health care services . The qualifying resolution is this . Is the service rendered considered `` medically necessary '' ? Medical services would include but are not limited to hospital inpatient services , emergency room , ambulance -LRB- medically necessary -RRB- , doctor visits , surgery -LRB- in or out of the hospital -RRB- , infusion therapy , imaging , lab and much more .


Input: When Is Health Insurance Tax Deductible?

Output: Generally a self employed person is able to deduct health insurance if he or she pays the premium . There are other circumstances where health insurance can be deductible , such as a person paying there own premium and is able to file long form itemizing deductions . Tax laws change so be sure to check with your tax adviser .


Input: Can I Laminate A Medicare Card?

Output: Yes , you can laminate a Medicare card . In most doctors ' offices , pharmacies , hospitals , etc , having your Medicare card laminated will not interfere with it being scanned for your medical records and payments . You could ask at your local physician 's office whether they are OK with your card being laminated , if you wish .


Input: Can I Laminate A Medicare Card?

Output: Medicare will allow you to make multiple copies of your Medicare card . If you want one of the copies laminated that should work most of the time . Keep an unlaminated card in your wallet as well for the times when someone decides that they can not take a laminated card . I do know that the cards get pretty tattered .


Input: What Is Replacement Cost On Homeowners Insurance?

Output: Replacement cost typically means the cost that would be incurred to replace an item that was damage as the result of a covered incident with a new item of the same or better funtionality and properties of the damaged item . Please remember every policy is different . Please read your policy completely to understand the coverage offered and any exclusions that may be contained within or contact your local agent to have them go over the policy with you .


Input: Does Homeowners Insurance Cover Rental Equipment?

Output: In addition to personal property that you own , a homeowners policy covers property that is in your care custody and control . If you have borrowed a bed from a parent and it is damaged due to a named peril -LRB- i.e. fire -RRB- the insurer will either give you the current value of the bed or the replacement value of the bed depending on the coverage that you selected . This money would be given to you minus the deductible .


Input: What Is The Medigap Insurance Program?

Output: Medigap or also called Medicare Supplements are plans offered by private insurance companies designed to pay the deductibles and coinsurance of original Medicare . The amount of coverage depends on the plan you choose . Plan F is the most comprehensive providing virtually 100 % coverage for Medicare covered expenses . It is also the most expensive . All Medicare Supplements are standardized and offer the same coverage .


Input: What Does Optional Life Insurance Cover?

Output: Assuming you mean guaranteed insurability option , you can purchase a rider that gives you the choice to purchase additional life insurance without medical proof . This can be a very valuable option , just like leasing a house with the option to buy . If the value of the house goes up , you can exercise the option to buy . If it goes down you dont exercise the option . If you need more insurance later on you can exercise the option to purchase more insurance without medical underwriting .


Input: Why Do Life Insurance Premiums Increase?

Output: Life insurance only increases on certain types of plans . For example , an annual renewable term life policy is very affordable but premiums increase annually . Term life policies such as 10-20-30-35 year term policies do not increase until the term is completed . Although , the policy will not cancel in almost every case you will see an increase in premiums about 10 fold . This is usually painful enough for you to drop the coverage and apply again . This way an underwriter has another chance to evaluate you at an appropriate premium . Typically policies such as whole life , universal life , indexed universal life and variable life premiums should stay steady if funded correctly at point of application .


Input: Why Do Life Insurance Premiums Increase?

Output: The cost of life insurance increases with age . Obviously , the older we get the more likely we are to die , resulting in the life insurance company paying out a claim . In the words of George Lopez , `` Each Birthday is just another year closer to death '' or `` Studies have shown that the more birthdays you have the longer you live '' . The life insurance industry has amassed a large amount of data at what age people die and the cause of death . With a large enough population , they can predict accurately the average age of a man & woman at death , which helps them derive the cost of insurance based on the age of the insured . For example , in a 20-yr level term , they simply average out the cost of insurance for that 20 year span . For a permanent policy , they simply average the cost until the average age of death . So , all life insurance costs increase as we grow older . That is the reason why the premiums for insurance are much cheaper when we are younger . One last consideration ... because the cost of insurance increases , if you purchased a permanent -LRB- eg universal life , variable universal , etc -RRB- and paid only minimum premiums to keep the policy going , you may receive notification that you need to pay a large sum in premium to keep the insurance in force . This occurs when a policy is underfunded or in other words , the policy owner did not pay enough premiums in to the policy over time and it can not sustain the cost to pay out the death benefit .


Input: Why Do Life Insurance Premiums Increase?

Output: Premiums increase is some policies and not in others , depending on the type of contract . One thing that does increase each year is the mortality cost -LRB- the chance of dying -RRB- . How the increasing mortality cost is dealt with has a large impact on the premium . For example with a 5 year renewable term plan you pay a level premium for 5 years and the excess over the yearly cost in invested to smooth out the premium . With a permanent level premium plan the insurance company actuaries do a calculation based on factors including morality cost , expense interest rate . They need an end so age 100 is often used . The calculation determines how much is needed to be pay on a level premium base . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Why Do Life Insurance Premiums Increase?

Output: If you purchased a level premium whole life policy they should n't ! If you have a universal life or term policy , they will increase either a. -RRB- when the term expires , or when you move into a new age bracket , like many of the television and mailbox policies you receive do ; or b. -RRB- when you find out that the minimum payments that you 've been making for the past several years on your universal life policy were n't enough to pay for the cost of the policy , and now you are going to have to pay up , or lose it . If you would like to discuss this further , please click on the ` contact me ' link , I 'll be happy to help . Thanks for asking !


Input: How Much Is Full Coverage Auto Insurance In Illinois?

Output: Auto insurance costs are determined by many factors . In no particular order those factors include garaging address , age , sex , marital status , 3-5 year driving record , vehicle , vehicle safety features , vehicle use , desired coverage limits , homeowner or renter , credit , safety courses , etc. . The DIY type can shop online , but with the myriad of factors you might want to contact a number of local insurance professionals for guidance in securing the best price , but more importantly the right coverage .


Input: What Would Happen If I Close My 401K?

Output: You do n't want to close your 401k due to the fact you will be taxed on the income that it generated . The best way is to roll the 401k over so you can take the interest earned tax free there are several ways to do this you need to consult a financial planner and look at somethings this money you save now tax free will be needed much more in retirement due to taxes and inflation .


Input: How Long Will Medicare Be Around?

Output: Medicare will be around for a very long time . But you need to consider that Medicare benefit payouts have exceeded the trust fund every year since 2008 . Last year the Medicare deficit exceeded $ 2 trillion . Some say the trust fund will be depleted by 2024 while other say it will run out of money by 2016


Input: How Much Do Medigap Policies Cost?

Output: The cost of a medicare supplement plan is determined by several factors : your age , your zip code , the plan you want -LRB- e.g. plan f , plan n , etc. -RRB- , and whether you use tobacco products . Rates will vary by insurance company and not every company offers every plan . If you 're being medically underwritten , you may be assigned level 2 rates instead of the standard rate/level 1 if you have certain medical conditions . Medicare supplement plans -LRB- commonly referred to as Medigap plans -RRB- are designed to help seniors who want high quality healthcare and are on Medicare , cover the gap between what hospitals and doctors charge for their services and what Medicare will pay . Supplementing your Original Medicare coverage -LRB- Medicare Parts A & B -RRB- with a Medicare Supplement plan will help you create a very predictable expense structure for your healthcare and allow you to see any doctor you want that accepts Medicare -LRB- meaning no networks ! -RRB- . Any doctor that accepts Medicare will also accept your Medicare Supplement plan . There are 10 different Medicare supplement plans and they are all standardized , meaning a plan F from company A and a plan F from company B feature the EXACT the same benefits . The 10 different plans available are plansA , B , C , D , F , G , K , L , M , and N. Each plan offers certain benefits some more comprehensive than others . For example , Plan A offers coverage of only the basic benefits of Medicare Supplement Insurance , while Plan F is the most comprehensive . Plan F also offers a high-deductible version of the plan it is the only plan that offers this feature . Under a high-deductible plan F -LRB- also referred to as Hi-F -RRB- , the insured must pay for Medicare-covered costs up to the years deductible amount $ 2,140 in 2014 before the supplement plan pays anything . The benefit of the high-deductible plan F is that it offers the insured a much lower monthly premium . I would recommend consulting with an experienced Medicare supplement broker to determine which supplement plan is most suitable to your needs and your budget . Please feel free to contact me for help . Thanks very much .


Input: How Much Do Medigap Policies Cost?

Output: The answer is ... it depends . There are 11 standardized Medigap plans ; each plan provides different coverage resulting in different premium -LRB- cost -RRB- amounts . Also , most Medigap carriers use an `` attained age '' rating -LRB- pricing -RRB- methodology , so the older you are , the higher the premium . For the same plan and age , most carriers as well have a higher premium for a male than a female , and a higher premium for a smoker than a non-smoker . Where you live -LRB- state and zip code -RRB- may also affect the premium . Carriers also charge different premiums for the exact same plan . The average cost of a Medigap plan for all individuals over 65 is approximately $ 200 per month ; it may cost less or more depending upon the factors outlined . Your best bet is to find a reputable senior market insurance agent to discuss your objectives and available options .


Input: Does Home Insurance Cover Water Pipes?

Output: If your homeowners insurance policy is written on a special form which most polices are , the damage caused by water from a bursting pipe is covered if there is damage to the dwelling or personal property . However the pipe itself is not covered for bursting or wear and tear . Consult your agent and/or policy for specifics on water damage .


Input: Can Husband And Wife Have Separate Auto Insurance?

Output: Auto insurance follows the car . The car is assigned to a household -LRB- address . -RRB- All the drivers in the household are considered when the insurance company issues the policy . Technically this would mean that a husband and wife living in the same household could not have separate policies . It does happen particularly when one has a very bad driving record and the preferred company refuses to insure that driver . Other substandard insurance companies will cover the driver in which case you have husbands and wives insured separately with different companies . The driver with the bad record is probably excluded from the car assigned to the driver with a good record .


Input: Can Husband And Wife Have Separate Auto Insurance?

Output: Based on my education and experience in the industry up to this point , yes it is possible for a husband and wife to have separate auto insurance . This practice is frowned upon though by the carriers and will typically make the cost of the auto insurance more costly for both the husband and the wife .


Input: Can Husband And Wife Have Separate Auto Insurance?

Output: That is a great question ! You can , but there are usually circumstances that make it necessary for separate policies , since as a rule spouses are included as drivers on the single policy . It is easier for the insurer , and cheaper for you if you do . However , if a vehicle is used by one spouse strictly for business , and the other spouse is not a driver of that vehicle , it can happen that you have separate policies . If one spouse has a very poor driving record and has a last resort insurer it is also possible . If you just got married , and have n't yet consolidated the policies , it is also possible . I hope that helps - thanks for asking !


Input: What Does Long Term Health Care Insurance Cover?

Output: Long term care insurance covers periods of assisted living at home and convalescent care in a nursing facility . The are two types of long term care insurance policies : indemnity and reimbursement . If elected , many long term care insurance policies also offer inflation riders as well to mitigate the rising cost of care .


Input: What Does Long Term Health Care Insurance Cover?

Output: There are a wide range of Long Term Care insurance policies . 95 % of the policies written are qualified plans , which mean that they have a specific trigger for the start of benefits and that is the loss of two essential capabilities as defined in the policy . The benefits vary a great deal but generally provide assistance when a person is in need of custodial care .


Input: Who Can Claim Disability Insurance?

Output: Those who can claim disability insurance are persons who have suffered a disability that keeps them from working . The time when they receive the benefit will depend on when the disability was incurred and the elimination period stated in their policy . The disability itself also must be covered under the policy .


Input: Who Can Claim Disability Insurance?

Output: The only person who can claim a benefit on disability insurance is the primary insured . Keep in mind to make a disability claim all criteria must be met . You must have been diagnosed by a licensed physician as being unable to perform the duties of your current occupation and the elimination period for benefits to start has been met . Then the primary insured will begin receiving benefits .


Input: What Is Personal Automobile Insurance?

Output: Personal automobile insurance is car insurance in general . Personal automobile insurance can cover just liability or you can cover your own car as well with physical damage . Auto insurance is required by law and there are state minimum coverage limits vary by state . Personal automobile insurance will cover autos owned by individuals instead of a commercial auto policy that covers commercial autos .


Input: What Is Personal Automobile Insurance?

Output: Personal Auto Insurance is an insurance coverage form that is designed and used specifically to insure private passenger motor vehicles and their owners . Most states require that one shows proof of having a personal auto policy that includes and names each car that is to be registered for use on public access roads and highways . States who require this are looking to make sure that there is liability coverage and usually matching Uninsured/Underinsured Motorist coverage in place . In addition to the liability protection a personal auto policy may also include coverage for physical damage to the car you own in the form of Comprehensive and Collision protection . These would be required if your car is leased or financed . Other optional coverages may include roadside assistance , Vanishing Deductible , Accident and/or vioation forgiveness , New Car replacement etc. . Talk to your Insurance Professional about all of the coverage and benefit options available so that you receive teh protection you need at the best price available .


Input: What Is Personal Automobile Insurance?

Output: Great question ! Personal automobile insurance is your auto policy for your personal vehicles . Companies need to separate the personal policies from the business policies as the coverage/liability is different . If you use your vehicle for business -LRB- other than commuting -RRB- than you should contact your insurance company to make sure you have the right coverage . Hope this helps !


Input: What Is Dwelling In Home Insurance?

Output: That is a great question ! It sure would be a lot easier if all those policies just spoke in simple words , would n't it ? In home owner 's insurance world , `` dwelling '' means the place where you live , or `` your house '' . It is used to differentiate between it , and any other buildings that might be on the property and covered , like barns , sheds , detached garages , etc. . I hope that helps , thanks for asking !


Input: What Is Dwelling In Home Insurance?

Output: A dwelling is a structure in which people live . There are several synonyms such as house , home , residence , abode , digs , pad and place . In a homeowners policy it is the principle structure on a piece of property and it is used as a residence for the insured and family . This is the basis for pricing most homeowners policies .


Input: What Is Dwelling In Home Insurance?

Output: Dwelling simply means the occupied main structure on the premises . It usually refers to a home or a house . A dwelling fire policy is designed to cover a house that is rented while a homeowners insurance policy is designed to cover a home that is used as a primary residence .


Input: What Is Dwelling In Home Insurance?

Output: The word dwelling just simply means the primary structure or the home it self . So for your question dwelling insurance is home insurance or landlord insurance which is still the home in question . If you look at a declarations pages of a policy you will notice Coverage A which is refereed to as Dwelling .


Input: Can You Surrender An Immediate Annuity?

Output: Most all immediate annuities you can cash them in . However they may incur a penalty based on the contract which is called surrender charges . Its based on the age of the annuity . Also if the annuity is an IRA or retirement instrument it could have an early withdraw penalty due to age . Most annuity require you to be 59 - 1/2 if its an qualified plan . Non-qualified plans would not . The contract has all the requirements by state laws .


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

Output: A rider on a whole life insurance policy is supplementary benefit , additional modification , or optional provision to the policy . Riders can be included in the base price of the policy , but most riders have an extra charge . Some examples of riders are spouse and/or child rider , accidental death rider , waiver of premium rider -LRB- pays policy premium in case of disability -RRB- , disability income rider -LRB- pays cash in case of disability -RRB- , and rider that guarantees that you can purchase additional insurance in the future .


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

Output: A rider is an additional benefit that is added on to the basic policy . It might extend coverage to someone else , a spouse or child , or it might provide that the death benefit would be available for medical expenses when death is imminent . There are riders that pay for the policy should you become disabled . Another rider available increases the death benefit substantially if your death is the result of an accident .


Input: Can I Deduct Auto Insurance On My Taxes?

Output: Normally , you can not deduct auto insurance from your taxes . If you are self-employed or own a business , a car used for that business can have expenses deducted with certain limitations . To fully deduct insurance and other expenses on a vehicle , it must be used 100 % for business purposes . If it is used for both personal and business , it becomes more complicated . With the simplest way , a flat amount per mile can be deducted for all business usage . The second way is to keep track of ALL expenses associated with the vehicle including gas , repairs , and insurance , as well as exact records about miles for business and personal use . The percentage of total miles used for business is the percentage of total expenses that can be deducted . Caution should always be used taking business deductions such as vehicle expenses and home office expenses as the rules are very strict and those types of deductions can increase the likelihood of an audit .


Input: What Pension Plan Is The Best?

Output: Retirement income involves a variety of income streams for many people . The best pension plan would be one that your employer provides that includes contributions from the employer . We call that free money . The next best plan is any plan that allows you to defer taxation either at the time of contribution or at the time that you receive income . Most people dont have the option to select pension programs but retirement income planning is a growing field and you might be able to locate someone to help you .


Input: What Pension Plan Is The Best?

Output: What pension plan is best ? Short answer ? The best pension plan is the one you participate in on a consistent and regular basis . The best plan is the one where you put as much money away as you can for your future . This is sort of like which is the best medical school question that is often asked . The answer ? The best medical school is the one that takes you .


Input: What Is Long Term Care Insurance Elimination Period?

Output: Morbidity insurance products like disability and long term care insurance both have elimination or waiting periods after the claim has been submitted . Most consumer pick a reasonable waiting period to contain premium coats and agree with their cash flow budgets . Many working Americans have 90 days of cash reserves . Many elimination periods attempt to match up to those reserves .


Input: What Is Long Term Care Insurance Elimination Period?

Output: A long term care insurance elimination period is the amount of time you must wait between qualifying for your policy 's benefits , and actually receiving them . It `` eliminates '' x number of days off the coverage so that the premium is more affordable to you than if it started paying from day one .


Input: Can I Get Car Insurance For A Week?

Output: You can apply for an automobile policy and then cancel it at any time . The premium would generally be a prorated portion of the annual or semi-annual premium . Some companies will charge a cancellation fee and other use another calculation rather than prorate which will penalize you for cancelling before the policy is expired .


Input: Can I Get Car Insurance For A Week?

Output: Do you need car insurance for a week ? A month ? Six months ? You can purchase coverage from a licensed company and terminate the policy at any time . It 's best to notify the carrier and broker of your intentions and monitor the refund that will be sent . It is possible a pro-rated or short-rated amount will be sent . LIVE answer provided by : Ed Harris - Premier car insurance broker for 33 years ! Wow . That IS a long time !


Input: Does Auto Insurance Follow The Vehicle?

Output: Good Question usally insurance follows the car . For example if with my prmission you borrow my car and get into a car accident my insurance should cover the claim . Keep in mind some companies lower you liability limits to the state minimum if are not the driver of the car at the time of the accident .


Input: What Does Liability Car Insurance Mean?

Output: Liability insurance in an auto policy refers to coverage for bodily injury or property damage . This is what happens in a collision . It is separate from the physical damage coverage which can also be in an auto policy . This coverage covers your car and the damage it sustains . Bodily Injury and property damage liability are by far the most important part of your auto policy . If someone is hurt in an accident and you are at fault , the claim is going to be enormous . It will be much more than you could possibly handle with your normal cash flow .


Input: What Does Liability Car Insurance Mean?

Output: Great question ! Your auto insurance covers the damage to your car , under the `` collision '' part . It covers the damage to the other car , and any injuries that you could be held liable for under the `` liability '' part . If you had to pick one part to carry , it would be liability - the costs they are going to ask you to pay in most cases would be huge . Thanks for asking !


Input: Can I Take Out Life Insurance On My Grandparents?

Output: You can take out life insurance on your grandparents on your grandparents under certain conditions . You will need their permission and you will need insurable interest . Insurance companies require that there be insurable interest before they will issue a policy . Essentially what it means is that you need to demonstrate that you would suffer financially form their death . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Can I Take Out Life Insurance On My Grandparents?

Output: Yes . You can buy life insurance on your grandparents when several factors are met : 1 -RRB- They agree to allow you to take out a life insurance policy on their life 2 -RRB- There is an insurable interest for the coverage - -LRB- pretty straightforward for family members -RRB- 3 -RRB- The policy being applied for is suitable to the need - there are limits to how much coverage can be taken out a person -LRB- generally 20-30x income - exact maximum coverage allowance varies by carrier and by need -RRB- .


Input: Can I Take Out Life Insurance On My Grandparents?

Output: You can take out life insurance on your parents if the reason is other than financial gain . The amount that can be taken out will be based on the income and net worth of your grandparents , whether they are medically insurable -LRB- although even terminally ill grandparents can get small amounts of guaranteed issue coverage -RRB- , and if they consent to signing the application and doing the exam or phone interview that may be required . If you are the owner and/or beneficiary of the policy , the amount of coverage will also depend on reason for the policy . E.g. . You could take out a a policy on your grandparents if you live with them , and you would lose your home as a result of their passing . Or if you wish to pay for their funerals . Just ask your agent ahead of time so that it will all go smoothly and you do not put your grandparents through unnecessary stress applying for a policy that the insurance company may not approve .


Input: Can I Take Out Life Insurance On My Grandparents?

Output: That is a great question ! You can , as long as they are able and willing to agree , and sign the applications . You also will want to be sure that they will qualify for whatever health and age restrictions may apply with the company that you are applying with . Find a good local agent who can help you with the right policy . Thanks for asking !


Input: Can I Take Out Life Insurance On My Grandparents?

Output: Yes , I can get you life insurance on your grandparents , assuming they are in reasonable health , and are informed of your desire . You can purchase life insurance on any person with whom you have an insurable interest , such as love , friendship , business dealings , etc. . The amount and their health will determine the price . Thank you . GARY LANE


Input: What Health Insurance Is Right For Me?

Output: The health insurance that is right for you is the one that best serves your needs and your budget . There 's a difference between the most comprehensive coverage and what is most suitable -LRB- or `` right '' -RRB- for you . Two questions that are helpful in pointing you in the right direction to find the plan type that 's best for you are : 1 -RRB- do you want the most comprehensive coverage you can get or are you willing to take on a larger share of the risk/costs to keep your premiums down ? 2 -RRB- what is your budget ? maximum dollar you 're willing to spend ? Under the Affordable Care Act , there are four main benefit levels - bronze , silver , gold , and platinum . Platinum plans are going to provide the most comprehensive benefits , but will also feature the highest premiums . Not everyone will be able to afford a platinum plan , which is why bronze , silver , and gold are available as well . The idea being to reduce your premium , you take on a little more risk - meaning you 're willing to take on a higher deductible , higher coinsurance/copayment , etc. to keep your premiums down . You may also want to see if group coverage is available through your employer . Group coverage can provide many benefits as well , such as lower premiums -LRB- the employer contributes to a percentage of the premiums for each employees plan -RRB- - the trade-off to keep in mind is that for group plans , if you left the company or youremploymentwas terminated , you lose the coverage . Anindividual plan will stay with you wherever you go . It 's always helpful to consult with an experienced broker regarding your coverage . We have in-depth knowledge of products from multiple carriers and work on a personal level with our clients and help them find the coverage that will best serve their needs . Please feel free to contact me for further assistance . Thanks very much !


Input: When To Sell Whole Life Insurance?

Output: As an agent the best time to explain a whole life policy is when the person needs a permanent solution . I personally like to mix some lower face whole life at a reasonable premium and use the more affordable term life policies to round out the estate . Whole life is the `` Swiss Army Knife '' of life policies as it has just about rider to make the right combination for your client .


Input: When To Sell Whole Life Insurance?

Output: When you should sell whole life insurance is when there is a permanent need and the client can afford the coverage needed as whole life . Whole life insurance does not require as much management as a Universal life policy and is perhaps for the more conservative clients . The important thing to do is to cover the needs with what they can afford . You can always covert to whole life at a later date as the client can afford it . Participating whole life is often thought of as `` top on the of the line '' with it many features . With non par you get fully guaranteed coverage and lower premiums than par . As always it is a balance between desire , need , and affordabilty


Input: When To Sell Whole Life Insurance?

Output: The beauty of whole life insurance is the actuaries design the products to reach their full potential if taken out at day one . Whole life insurance -LRB- particularly participating whole life -RRB- from mutual insurance companies can serve as an outstanding savings and investment vehicle for newborns . Paying into a policy from the moment your born can provide great options later in life . I recommend this to all of my clients in small amounts . Usually $ 100 or $ 200 a month will buy a reasonable death benefit and build an excellent cash value over the course of 20 or 30 years .


Input: What Is The Cost For Medicare Part C?

Output: Medicare Part C , also know as MedAdvantage Plans , are purchased through an Insurance Company direct or a Broker and can range from $ 0.00 to $ 300 or more per month ... As a Broker , we shop the market to find the best plan at the lowest cost ... Search for a Medicare Qualified Broker for the best results ... .


Input: Why Are Variable Annuities Variable?

Output: Variable annuities have two fundamental crediting methods : the general fixed interest account and separate subaccounts . The separate subaccounts generally have a sizable selection of equity and bond investments . Where as other non security tax deferred annuities have interest rate or indice crediting .


Input: Can A Self Employed Person Deduct Health Insurance?

Output: Deducting your healthcare premiums is not only possible , but makes financial sense . I 'll use myself as an example . I have been an insurance broker for 33 years so there may not be a better resource . I own an HSA -LRB- along with the High-Deductible-Health-Plan -RRB- and have been a supporter of this type of policy for many years . Although I may file my taxes differently than yourself , I am able to deduct a portion of the premiums along with the proceeds that are deposited into the HSA . A self-employed person can deduct health insurance on their taxes in a number of ways . However , whether you use Turbo-Tax or simply complete your own tax return without help , it s always wise to consult a tax expert or the IRS website regarding deductibility of health insurance . And remember that premiums and actual expenses may be treated differently as well persons that itemize vs. not itemizing .


Input: Can A Self Employed Person Deduct Health Insurance?

Output: WOW ... a lot has changed regarding that subject just since 12/2015 . The IRS is a total mess when it comes to this subject . The answer is YES ... & NO ... SO MUCH depends on your company structure -LRB- Sole Prop , LLC , C or S Corp -RRB- ... Your role and how you are paid is vital to know . The Tax Code ... . sucks ... It should be allowed ... easily . Yet it is not . Silly that if you had a `` group plan '' for you and ONE employee , then YES , the destructibility is there . Yet as a one person shop -LRB- assumption being made here -RRB- , it 's NOT easy . Reach out if you have any more questions . - gravy .


Input: Can A Self Employed Person Deduct Health Insurance?

Output: The best way to get deductions on your taxes using health insurance is to purchase a HIGH Deductible Health Plan -LRB- HDHP -RRB- and open a health savings account -LRB- HSA -RRB- with it . The money you put in the HSA over the coarse of the year is tax deductible with the following limits : $ 3300 - Individual 2014 $ 3300 + $ 1000 - Individual 2014 -LRB- 55 + Contribution -RRB- $ 6550 - Family 2014 $ 6550 + $ 1000 - Family 2014 -LRB- 55 + Contribution -RRB- To learn more about HSA coverage visit CLM Insurance Group


Input: What Is A Contingent Beneficiary For Life Insurance?

Output: Sometimes life just happens . Your make plans and they change . Life insurance policies allow you to assign beneficiaries to receive your life insurance proceeds in the event of your demise . But sometimes you may want a back up beneficiary , in case the primary beneficiary has died or that relationships change . Thats a contingency plan . Thats a contingent beneficiary .


Input: What Is A Contingent Beneficiary For Life Insurance?

Output: A contingent beneficiary is a beneficiary that is next in line should the primary beneficiary die before the insured . This is most common use is with a husband and wife with children . If both parents were to die in a car accident or plane crash , their children would be named the contingent beneficiaries on the life insurance plan .


Input: When Is Car Insurance Going Down?

Output: This question is way too vague to be able to provide a decent answer to . As none of have a crystal ball readily available , the best I can suggest is that depending on your carrier , the losses that they have experienced over the last five years , and the make up -LRB- age , sex , etc. -RRB- of their client base you may experience a decrease in premium at any renewal then again you may experience an increase in premium also .


Input: How Much Renters Insurance Should A Landlord Require?

Output: That 's really an individual decision . The part of the the renters policy that the landlord would most be concerned with would be the liability coverage . The personal property coverage is going to be different from tenant to tenant . Most policies typically start liability coverage at 100000 . In many instances the landlord may feel this is sufficient but in the case of an accident on the rental property if the tenants liability coverage is not sufficient enough to cover the loss the person -LRB- s -RRB- involved may attempt to turn a claim into the landlords carrier so the landlord may wish to require a higher limit on the policy for liability coverage .


Input: When Should I Purchase Life Insurance?

Output: When you should purchase life insurance is a good question . Since insurance premium increase the older you get , purchasing when you are young and healthy is the best time . One approach would be to buy a base of permanent level premium coverage with a guaranteed insurability rider and a large block of inexpensive term insurance . This would lock in your insurability . Most people do not think that far ahead and buy insurance to cover a specific current objective , such as protecting family income today rather than looking forward and anticipating future needs . An independent insurance broker can help you find the right policy at the right price . 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: Does Homeowners Insurance Pay For Tree Removal?

Output: Typically homeonwers insurance will not pay for removal of a tree . It will pay for the clean up from limbs that have come off of the tree that was caused by a covered loss . Please read your policy completely to understand the coverage provided and the exclusions that it may contain .


Input: Can I Change Home Insurance Midterm?

Output: Yes , you can change whenever you want . Your former company must refund any unearned premium . If your premium is figured into your mortgage then you may want to redeposit the check back into your escrow account . Your independent agent can help you with the exact procedure to follow .


Input: How To Qualify For Private Disability Insurance?

Output: There are several disability insurance companies that offer disability insurance.The qualifications for disability insurance are relatively universal . Your health history and current medical condition are key factors in securing coverage . You 'll need to justify and then verify the amount of coverage based on your income on vocational duties .


Input: Is Medicare Part B Premium Tax Deductible?

Output: Yes , Medicare Part B Premium is Tax Deductible per Schedule A of form 1040 on your tax return , up to a limit . If the Medicare Part B premium -LRB- pluslong term care and other health insurance premiums -RRB- plus co-pays and out of pocket expenses exceed 7.5 % of your Adjusted Gross Income -LRB- AGI -RRB- , you can deduct the amount that exceeds 7.5 % of your AGI .


Input: How Does Life Insurance Profit?

Output: That 's a question many have wondered about , but it 's really quite simple . First the premiums collected are invested in diversified investments and provide the basis of any dividends that are paid out . Additionally , particularly on the Term policies that the provider issues , there are a large percentage of clients who never collect on the death benefit , because they either out live the policy or let the policy lapse . Finally there are those who allow their whole life policies lapse without having accumulated cash or surrender value . So those premiums that had been paid stay with the provider and are invested .


Input: How Does Life Insurance Profit?

Output: Life insurance companies are no different than any other business . They must price themselves to make a profit or they could not exist . Term Life insurance is the easiest to explain . They take in $ 400 per year in premiums for example . They only sell this policy to young healthy people at this price . IF you die while insured they will pay your beneficiary $ 250,000 . If very many people died , this would never work . The life insurance company has run the numbers and knows exactly how many people with that policy will die while insured . It 's very very few . Most people will pay that premium for 20-years and never receive anything back . The money a life insurance company collects in premiums minus what they pay in claims minus their operational costs = their profit .


Input: What Is Supplemental Short Term Disability Insurance?

Output: In the context that I believe you are using the term `` supplemental '' that would be a short term disability policy offered as a voluntary -LRB- employee paid -RRB- benefit at your place of employment . there are a variety of insurance carriers who offer such products with AFLAC , Colonial Life and Allstate being just a few examples . These products are generally offered at the workplace and are paid for via payroll deduction with your employer remitting the monthly premium to the insurance carrier . Unlike many supplemental/worksite/voluntary employee benefits such as critical illness plans , cancer and accident policies , I would not recommend that you have a disability insurance policy 's premium taken out of your paycheck on a pre-tax basis as this could have tax implications in the event you ended up receiving benefits from the policy .


Input: What Is Supplemental Short Term Disability Insurance?

Output: In addition to the definition provided by Mr. McKelvy supplemental short term disability can be used as a secondary policy for other disability plans . Supplemental is defined as : `` added to furnish what is lacking or missing '' . For example , people working in states with mandated coverage may want to increase the level of monthly benefit , or extend the length of payment duration . Or if employers offer a long term disability policy it may come with a lengthy elimination period . Many workers may go bankrupt before benefit payments begin on a policy with a 180 day waiting period .


Input: Does Medicare Pay For The Silver Sneakers Program?

Output: Some Medicare Supplement or Medicare Advantage plans offer complimentary membership to facilities that participate in Silver Sneakers , a fitness program for seniors in the United States . The `` Silver Sneakers Benefit '' is not covered by Medicare Part A or Part B. SilverSneakers is owned by Healthways , a well being improvement company headquartered in Tennessee .


Input: Is Life Insurance Community Property?

Output: Life insurance is personal property . Personal property can be owned by one or more owners . Living in a community property state could present divisible property issues if the life insurance policy has cash values . Each community property state may have it 's own proprietary regulations . Consult an attorney before moving forward with any policy ownership changes .


Input: Is Life Insurance Community Property?

Output: California is a community property state . There are only a few states in this group . In California a life insurance policy would be considered community property unless it was purchased entirely with non-community property assets . This would be very unusual . The thing that is important is that the policyholder in California can not act independently of their spouse . That is the policyholder can not change the beneficiary , take out a policy loan or surrender a policy without the signature of their spouse .


Input: Is Life Insurance Community Property?

Output: Life insurance in community property states is typically denoted as community property if community funds purchased the policy . Community property is that which was purchased after the marriage , whether or not only one person is the insured , and whether or not only one person paid the premium -LRB- unless the premiums were the result of a personal gift -RRB- . The exception is if the beneficiary is the spouse ; then the life insurance proceeds go to the spouse-beneficiary . Not all states use this method of determining community property , so check with legal counsel to find out the guidelines for your state .


Input: Does Medicare Have A Deductible?

Output: Medicare does indeed have a deductible . Medicare Part A , the hospital portion , in 2013 the Part A deductible is $ 1184 per benefit period to use Medicare jargon . In essence it is a per hospital admission deductible . Medicare Part B has an annual deductible of $ 147 in 2013 . After you satisfy the deductible Medicare pays 80 % you pay the remaining 20 % .


Input: Does Homeowners Insurance Cover Foundation Cracks?

Output: A homeowners policy covers damage caused by a named peril . If the cracks in the foundation are the result of a specified peril , fire , wind , hail etc. the loss would be covered . There are perils that are not included such as earth movement . Earth movement would be the most likely cause of a crack in the foundation . Please consult with your agent prior to filing a claim .


Input: Does UBS Offer Life Insurance?

Output: Some investment brokers from firms like UBS happen to have a life insurance license so they can offer variable annuities to their clients . While a few may actively sell life insurance most do not . Access to insurance companies and products may be limited at these wirehouse firms . Insurance is a complex financial product requiring a planning expertise that most investment brokers do not have . If you need insurance advice seek out the services of a life insurance professional .


Input: How Long Should You Keep Disability Insurance?

Output: Most long term disability policies cover to age 65 . If youre still working and younger than age 65 , you should maintain your coverage . What is more important that insuring your paycheck if youre without the means to self-insurance ? The average American worker has 90 days of cash reserves . What is that against the average disability period of 31 months ?


Input: How Long Should You Keep Disability Insurance?

Output: Disability insurance is actually Income Disability Insurance , so the purpose of the insurance is to insure your income continues when you become unable to work . It actually does n't replace 100 % of your income , but usually about 60 % . So once you retire the purpose of the disability insurance has gone away . That is you no longer are working for your income , so you no longer need the insurance .


Input: What Is Non-Life Insurance Definition?

Output: `` Non-Life Insurance '' , or `` General Insurance '' , in Europe is the equivalent of `` Property and Casualty Insurance '' in the United States and Canada . It is insurance that covers loss from a particular financial event . It does not cover a person 's life , as life insurance does . Therefore , it is called `` non-life '' insurance .


Input: Can A Life Insurance Policy Expire?

Output: It can , yes . Especially if it is a Term product , it is important to keep up with your regular premium installment payments . Since in a term contract , there is no insidecash accumulation , if the premiums are not paid , the policy will espire for non-payment of premium . In a permanent product , it may be possible to have the coverage continue without premium payment , by an automatic premium loan provision or other means . You need to check with your insurance professional about the terms and conditions of your particular policy .


Input: Can A Life Insurance Policy Expire?

Output: Term life insurance policies do have an expiration date . Some at the term and some have large annual increases until another expiration date . Permanent life insurance policies such as whole life or universal life insurance do n't expire but endow . This means the cash value meets to face amount and the policy has meet it 's obligation of being life insurance and is now considered a modified endowment contract or MEC .


Input: Can A Life Insurance Policy Expire?

Output: Yes , a life insurance policy can expire . Some Term policies will expire at the end of the term , while others will go into years of annually renewable term -LRB- meaning the premium can go up every year -RRB- before the policy expires . Permanent insurance will not expire if it is set up to last until death at any age , and if all policy payments are on time with no unpaid loans . Some permanent life insurance policies are set up to expire at a certain time .


Input: What Is Your Obligation To Report Finding An Earring 15 Years After Making A Claim?

Output: Honesty is the best policy . It is a reflection of your character . Insurance companies normally keep records of a policy for about five years after the policy terminates . Your policy terminated . You may still be insured by the same company and may even have the same policy number . However , the policy that had the loss terminated . I would love to see the look on the face of the claims department when you report your discovery .


Input: Who Sells The Best Term Life Insurance?

Output: Getting the best term life insurance involves using a reliable agency , getting matched with the best company for your health , getting the lowest price , getting good guarantees , and using a life insurance carrier with a high rating . Your agent can help you with all these . However , if you want to do some sleuthing ahead of time , you can go to websites that offer term quote engines to see what policies you might qualify for . Then go to the home page of the carriers that come up , to find their ratings . That way you will be a knowledgeable consumer who can help your agent get you set up with the best term life insurance for YOU .


Input: Who Sells The Best Term Life Insurance?

Output: The person who sells the best term insurance is the licensed agent that you trust . That agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . Determining the correct amount and type of policy is the agents specialty . You will probably find the agents advice invaluable .


Input: What Is Annuity Starting Date?

Output: The annuity starting date is the date that the annuity is `` annuitized '' , or starts making payments to the beneficiary of the annuity . Immediate annuities will have a starting date right after the purchase of the annuity . Deferred annuities will have a mandatory start date years down the road , as determined by the contract established between the annuity company and the person purchasing the annuity . However , the annuity owner can choose to annuitize at any time prior to the start date , although it is best to delay until after the surrender period .


Input: Is Medicare Any Good?

Output: Medicare along with a Medicare Supplement is great health insurance . Many people are nervous about going on Medicare because they are unsure of what it will cover . However , Medicare Part A & B along with a Medicare Supplement plan is often times more comprehensive coverage -LRB- for equal to or less money -RRB- than what your group plan offered . Consulting with an independent agent that specializes in Medicare will save you a lot of time and money in searching for the plan that fits your needs the best .


Input: Does Life Insurance Pay Out For A Drunk Driving Death?

Output: Depending on the policy terms , yes a life insurance policy would pay a death benefit to the stated beneficiary . An individual policy usually has no provision against paying a claim in this case . Plans that might exclude payment could be AD&D plans and possibly some group life insurance plans . If you own life insurance , it is always best to review your policy to know exactly what if anything , is excluded from payout .


Input: Does Life Insurance Pay Out For A Drunk Driving Death?

Output: If someone you know was the victim of a drunk driving accident , the policy would pay upon their death . If the person who died in the drunk driving accident was the intoxicated driver , the policy will pay if the applicant did not lie about or omit requested information about alcohol use , DUI 's , etc on the application . After the first two years of the policy , these details are not as important .


Input: How To Sign Up For State Disability Insurance?

Output: In most cases state disability insurance is not something you sign up for . There are five states with mandatory short term disability . Private workers are automatically enrolled . Government workers may have the option to participate , but the government entity must agree to automatically enroll all employees . California allows self employed workers to sign up for its state short term disability program . Social security disability is administered at the state level . Every citizen makes premium payments into the fund via FICA payroll taxes . If you need to apply for benefits after becoming disabled , you would need to contact your state disability determination office .


Input: Will Homeowners Insurance Pay For Dead Tree Removal?

Output: Homeowners Insurance will not pay for dead tree removal . A tree is a plant and it is the homeowners obligation to show pride of ownership and to take care of his or her yard . Big plant or small it 's the homeowners responsibility to maintain . Also a dead tree just sitting there and has not caused any damage to the dwelling , therefore there is no claim . I know what your thinking . The tree is a potential hazard and could fall on the house and cause damage or hurt someone . If this were to happen and you were unaware of any potential hazard there would be coverage should the tree fall on your house . However , if you are aware the tree is a hazard and fail to mitigate the hazard you are negligent and are not living up to your obligation as a homeowners and risk having the claim denied .


Input: When Can I Switch Medicare Advantage Plans?

Output: You can switch your Medicare Advantage plan during the annual open enrollment period that begins in October and runs through December . There are a few other times when Medicare allows you to switch Advantage plans . If your Medicare Advantage carrier goes out of business -LRB- like Universal Healthcare -RRB- you can change to another Advantage plan or return to original Medicare and qualify for a Medicare supplement plan . If you leave your Advantage plan service area is another qualifying event .


Input: When Can I Switch Medicare Advantage Plans?

Output: You can swtich Medicare Advantage plans during the open enrollment period that runs from 10/15 to 12/7 . Then you can switch plans during the medicare disenrollment period . However , if you swithc during the medicare disenrollment period your only option is go back to original medicare . What happens if you can not pass the underwriting questions to obtain supplement ?


Input: Can An Auto Insurance Policy Be Cancelled?

Output: An auto insurance policy can be cancelled at any time by you , or may be cancelled for non-payment by your insurance company . Your current provider will probably require proof of new insurance at the time of cancellation , as well as a signed request to cancel the policy if you are requesting the cancellation .


Input: Does Homeowners Insurance Go Up With A Trampoline?

Output: Trampolines may be fun but they are problematic for insurance companies . Some may reject coverage if one has a trampoline , while others may accept the risk so long as it is fitted with a perimeter fence or screen that can be locked when not in use . Trampolines , polls , and yard swing sets don/t in and of themselves cause premium increases , but they are `` attractive risks '' that increase the probabilities of a liability claim . Thus insurance companies consider properties that have them very carefully .


Input: Does Virginia Require Renters Insurance?

Output: As of this date and to the best of my knowledge renters insurance is not required in any state . A landlord may through the rental agreement require any tenant to carry renters insurance . Renters insurance is typically very low cost and can provide protection when you need it . With renters insurance you not only cover your personal property but also adds liability coverage in the event that someone is hurt while at your residence .


Input: What Is The Market Value Of A Car For Insurance Purposes?

Output: There is a symbol assigned to every car by make , model and equipment . As the car becomes older the symbol is influenced by the market price . The car symbol is used to compute the premium . A restored or modified car may be more valuable than the stock model . In that case the owner might want to have the insurance written for a stated value .


Input: Does Health Insurance Cover Bosley?

Output: This is indeed an interesting question . The late Tom Bosley , who played Howard Cunningham on the TV show hit `` Happy Days , '' died in 2010 . So I guess he is not covered . Or were you referring to Bosley Medical Centers ? Since they are hair restoration and growth treatment centers , health insurance would not cover expenses . Of course , perhaps you were referring to John Bosley , a fictional character in the old Charlie 's Angels TV series . Since he really did n't exist , he would not be covered .


Input: Why Buy Voluntary Life Insurance?

Output: Usually the term `` Voluntary '' life insurance refers to a policy which may be purchased through your place of employment . Generally `` Voluntary '' life insurance is purchased through a group contract made between your employer and the insurance company . `` Voluntary '' life insurance can be a very good purchase as some companies will relax their underwriting requirements for those who participate and some insurance companies will even offer guarenteed issue type policies for those employees that participate . One of the other benefits of these policies is that they may be able to have the premiums deducted from your pay check according to how you are paid -LRB- weekly , bi-weekly , monthly , etc -RRB- . Other than how they are purchased `` Voluntary '' life policies are the same as any other life policy that you can by , in that they allow you to own the policy and assign beneficiaries as you desire . In most cases , if you leave your employment you may continue your policy by paying the monthly premiums from your bank account as they come due . I would caution though , that you should talk to the insurance company representative , when they come to enroll the group or service the account , as some policies may have different rules than others .


Input: Why Buy Voluntary Life Insurance?

Output: To protect the financial future of your family should you pass away unexpectedly . If you died tomorrow . What kind of debt would you leave your family strapped with ? Would you want your kids to be able to go to college ? Do you have a charity that you would like to leave a legacy with ? Life insurance can help provide for your family 's financial future in the event of your passing . As always , remember every policy is different . Please read your policy completely to know what coverage is provided and what exclusions there may be or contact your local agent to have them go over the policy with you .


Input: Is There Federal Tax On Life Insurance?

Output: There can be federal estate tax exposure on life insurance death benefit proceeds . To avoid federal estate tax exposure , many estate attorneys recommend using an irrevocable life insurance trust to own the life entrance policy , which in effect then is deemed as being out of the estate . Some estate planning strategies use other family members as the policy owner to accomplish removing the future death benefit proceeds outside the estate . Consult your estate planning attorney before moving forward with any ownership changes or assigning ownership to a life insurance policy .


Input: What Is Disability Insurance Used For?

Output: Disability Insurance is used to replace the wages an employee loses by being unable to work due to illness or injury . After a set period of time -LRB- usually , three months , for long term disability insurance -RRB- payments are made directly to the insured person from the insurance company . Depending on the features of the policy , these payments might be made for years or for life ; until the Insured is able to work at all , or is able to work again at his/her own job .


Input: What Is Disability Insurance Used For?

Output: Disability insurance pays you a benefit when you ca n't work because of illness and/or sickness . it 's fundamentally paycheck protection . Generally speaking non deductible disability premiums generate tax free benefits after the waiting or elimination period is completed . When you consider that most working Americans do not have sustainable cash reserves to weather a periods of disability , the protection becomes valuable .


Input: What Is Disability Insurance Used For?

Output: Disability insurance is used to replace part of the income lost due to becoming disabled for an extended period of time . The benefit from a disability insurance policy is paid as cash to the insured , to use to pay for the expenses they desire to use it for . There is no stipulation that it be used on health related expenses .


Input: Does Renters Insurance Cover Firearms?

Output: Renters insurance may provide some limited coverage for firearms . Many carriers provide limited coverage for firearms and other personal items less your deductible . Please read your policy completely to understand the coverage provided and any exclusions that may be contained within or contact your local agent to have them go over the policy with you .


Input: What Is The Best Site To Compare Auto Insurance?

Output: Comparing auto insurance rates online is a great way to save money and find the best deals in your area . Finding the best prices does n't have to take a lot of time since a reputable website will do that for you . Carinsurancezoom.org is one of the premier trusted resources for quickly finding , comparing and applying for auto insurance coverage . There are no fees or costs when using the website . Of course , there are many online options when shopping for coverage . A US-based website operated by experienced brokers is an absolute must . And of course , being able to access the major companies on one website instead searching multiple websites is also helpful . Once you have viewed your online prices , typically , you can get assistance online or via email from the site owner and their staff . Of course , it 's always important to be aware of the cancellation date of your existing policy to avoid any lapse in coverage .


Input: Does Medicare Cover Sleep Apnea Testing?

Output: Medicare does pay for testing for sleep apnea . There are four types of sleep study tests , and the treating physician must determine which is most cost effective and medically necessary for the sleep apnea testing for that particular patient . The testing can take place in or out of a sleep study lab .


Input: Why Is Whole Life Insurance So Expensive?

Output: Why is whole life so expensive ? Because it is the ONLY product that really will cover you for your whole life . You are paying a premium that is LOCKED in time , they ca n't come back and raise the price . Finally , when you buy whole life , YOU control the policy . Nothing can be done without your permission . I guess I would add this , the insurance industry is an industry of math . It is statistic driven and risk oriented . If you were an insurance carrier would you charge the least or the most for the product you bare the most risk from for payout ? Once an insurance company has sold a whole life , they 're no longer in charge , the insured is .


Input: Why Is Whole Life Insurance So Expensive?

Output: Whole Life Insurance is designed to have a cash component that can be used in later years to pay premiums or purchase additional coverage without the need to re-qualify medically . Because of this , premiums must take into consideration the cost of insurance plus the side fund . Term insurance and some forms of universal life insurance have no such fund , and therefore have lower premiums .


Input: Why Is Whole Life Insurance So Expensive?

Output: Whole Life Insurance is a contract in which the company guarantees to pay the death benefit in exchange for recurring premiums that never change . If you were to buy pure insurance for one year the premium would be very low in the early years but would rise rapidly to a ridiculous premium in later years . The design of a whole life plan is to have a level premium . In order to accomplish this the company creates reserves which offset the cost of the premiums in later years . These reserves are listed in the policy as surrender values . The company will , at any time will allow you to surrender the policy in exchange for the amount listed in the policy . Only a permanent life insurance policy develops these reserves .