Input: How Is Medigap Different From Medicare?

Output: Medigap policies are the `` original '' standardized Medicare plans that are offered by insurance companies . They are different plans labeled as A through N that have different co-insurance and/or deductibles depending on which plan you choose . They are different from the Medicare Advantage plans . Medicare Part A and B combined pays 80 percent of doctor and hospital bills therefore there is a 20 percent gap which is why the Medicare policies are called Medigap policies . They are Medicare policies and do not differ from Medicare .


Input: How Does 21st Century Auto Insurance Rate?

Output: 21st Century auto insurance is very popular in many states . Although their rates are typically , not the lowest in that particular area , they are a reputable company . Some of the major car insurance companies other than 21st Century are Progressive , Geico , State Farm , Allstate Esurance , Nationwide , Liberty Mutual and Travelers . An experienced broker or a reputable national website can offer you multiple free quotes from top-rated companies and allow you to apply online , in most situations .


Input: Who Should Get Disability Insurance?

Output: The ideal person that needs disability insurance is the person that 's most valuable asset is their ability to earn a living . If someone needs a steady paycheck in order to pay their normal living expenses , this is a prime candidate for disability insurance . You are 8 times more likely to become disabled from an injury or illness than to die .


Input: Who Should Get Disability Insurance?

Output: Anyone who would not be able to get along without the income from their job for over 3 months should have Long Term Disability Insurance . That is the type of policy that will protect you and your dependents from being devastated by a new , long term or permanent disability , and the resulting loss of income .


Input: How Much Does A Life Insurance Agent Make A Year?

Output: Life insurance agents can make a very good income . Over a period of years but keep in mind this agent would spend a lot of time in study and different schools to be able to do his job efficiently . He or she will keep this train of thought thru out his career so with that said a good hearted agent will make a very good income .


Input: How Much Is The Average Cost Of Life Insurance?

Output: That is a great question ! Unfortunately , there is no `` average cost '' that I can honestly give you . Life insurance is like a tailored suit . Each person is built differently , so my suit most likely wo n't fit the average person , any more than yours probably would . Since life insurance costs are based upon your personal health situation , age and gender , the rate is tailored to you . There are companies that issue policies that charge a flat rate by age , but they also tend to increase those costs every few years , and end your coverage the day you turn 80 . Please speak with an agent who can give you some specific numbers for you to look at . Thank you for asking !


Input: How Much Is The Average Cost Of Life Insurance?

Output: There 's many factors that go into the premium calculations for life insurance to say what an average life insurance policy costs - it will be different for every person due to a number of factors including their age , gender , amount of coverage they want , how long they want the coverage for -LRB- guaranteed to age 90 , 95 , 100 , 121 , etc. -RRB- , and their riskclassification -LRB- determined by the medical history -RRB- . The risk classification is the MOST critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends ona number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Please keep in mind - every carrier has their own set of underwriting guidelines and mortality tables , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . I would suggest consulting with an experienced life insurance broker who can work with you on a personal level and help determine what coverage is appropriate/suitable for your needs and budget and which carrier will work best for your program . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: How Much Is The Average Cost Of Life Insurance?

Output: The average rating people get for life insurance is Standard . From that , you can determine the average cost for persons of different ages . Keep in mind that the average cost for an 80 year old is going to be much different than the average cost for a 20 year old . As will the average cost for someone with diabetes as compared with someone with perfect health . The length of the term , or whether the policy is a permanent policy , have a great effect on the premium , as well . It is a good idea to go into a life insurance sale with your top dollar that you can spend , in mind . Then see if you can get a policy that suits your needs for a premium a little lower than that . Something is better than nothing , and by consulting with an honest and knowledgeable agent , most people can find coverage at a price they can afford .


Input: What's Covered In Homeowners Insurance?

Output: Let me add a few comments here on how the coverages are usually presented on a Declaration page of a Homeowners policy . First there is the party being insured and who the company is that is providing the insurance . Then there is a specific term for the coverage to begin and end . Then there are many ways to then itemize the coverage , but here are some basics . The policy is usually divided into two Sections . Section I deals with property insurance and Section II Liability Insurance , so within the section I coverages there are usually four parts Coverages A , B , C , D. Coverage A is the Dwelling Coverage . This can be sold on an Actual cash value basis -LRB- very infrequently , but watch out for it -RRB- usually on a 100 % of the dollar value of the estimated cost to replace the house itself . This is often difficult for consumers to understand , but no one really cares about the market value . What is important is the replacement cost and replacing one house destroyed is usually a lot more expensive then building one new in a subdivision . Make sure you have enough coverage . This is not an exact science so many companies offer extensions to increase the coverage beyond the stated value . Next is Coverage B : These are the other structures appurtenant , outbuildings , fences , Gazebos unattached garages etc. . Coverage C is usually Personal Property or Contents Coverage . This is very important to understand : You want replacement cost coverage not Actual Cash Value , ACV . The easiest way to think of this is the ten your old large and 200 lb TV . The ACV is going to be next to nothing . There is no continuing interest in buying that type TV anywhere . But replacing it with a new TV with light weight plasma features is what you want . Coverage D is Additional Living Expense . This can be stated two different ways or a mixture of the two . Some companies list a maximum dollar limit available . Others list a maximum time limit and still others list a maximum time limit and dollar limit . This covers the additional cost of living elsewhere while your home is reconstructed . It can also come into play if a Governmental authority wo n't let you near your home for safety reasons -LRB- i.e. forced evacuation form an impending hurricane -RRB- . This coverage does not pick up the cost of things you would normally pay out of pocket , but the additional things and costs necessary to keep your household going while your home is repaired . The next set of coverages comprise Section II or liability coverage . Coverage E is very broad and covers such things as an injury to a child by your dog , or an inadvertent collapse of you deck with guests on it etc. . Coverage E then is is sold in increments of 100,000 usually . The difference in price from say 300,000 to 500,000 is usually only a few dollars a year . If you have an umbrella policy , you may be required to carry a minimum of 500,000 in coverage . Coverage F is Medical payments coverage . This is usually quite nominal and is used to cover minor incidents where fault may not be much of an issue , but you feel obliged to pay for the medical bill . For example a neighbor picks up your mail for you while you are gone and trips on your garden hose . The injuries are not serious , but do require a couple stitches . The limit is low because the much more serious incidents would require negligence or absolute liability and would fall under Coverage E. I hope this helps . If you are in AZ.CA , TX , MO , or GA we 'll be glad to assist you with placing your homeowners coverage .


Input: What's Covered In Homeowners Insurance?

Output: -- > Normal 0 Basic homeowners policies provide coverage in three general areas . They agree to indemnify you for the cost to repair or replace your home or your personal property should it be damaged or destroyed . They agree to indemnify you for your increased expenses should your home be damaged or destroyed and you are required to live somewhere else while your home is being repaired . They agree to provide you a legal defense and pay some or all of certain civil judgments should something you do or fail to do injure or damage someone . Obviously each area has its own limitations which are outlined in 40-50 pages of words some of which are subject to legal interpretations but for the most part this is the type of coverage you will find in most homeowners ' policies .


Input: What Is The Role Of Health Insurance Exchange?

Output: The role of the Health Insurance Exchange -LRB- Marketplace -RRB- is to provide individuals , families and small businesses with affordable quality healthcare coverage from top-rated companies . A federal subsidy will help lower premiums for many consumers . Experienced brokers are your best resource for finding the best rates , calculating subsidies and recommending the most suitable plan . LIVE answer provided by : Ed Harris - Premier national health insurance broker since 1980 and owner of several top-ranked healthcare websites .


Input: What Auto Insurance Coverage Is Recommended?

Output: The value of auto insurance is discovered when you have a claim . The premium is not an appropriate measure of value , particularly if you are facing a claim that exceeds the limits of your policy . I inform my customers of the maximum amount of coverage the company is willing to assume . We discuss the possibility of a very large claim . I recommend that each take as much coverage as they can possibly afford . I never discourage anyone from taking on maximum physical damage coverages either . No one is happy when either there isnt any money to fix their car or the deductible is so high that the insurance company hardly contributes .


Input: What Auto Insurance Coverage Is Recommended?

Output: That is a great question ! A lot of the answer will depend upon your State required minimum coverage , and your budget . In Texas , the minimum amount of insurance that you can have is 30/60/25 , or $ 30,000 per person , per accident ; $ 60,000 maximum paid per accident ; and $ 25,000 for property damage . This is the bare minimum , and $ 25,000 does n't pay for much , if one or both cars are totaled . We recommend 100/300/100 as suitable coverage . That amount is typically more than enough , but ultimately it will be your budget that sets the amount of coverage for you . Contact a local agent , and find out what will work for you , okay ? Thanks for asking !


Input: Does Renters Insurance Cover Pest Infestation?

Output: Renters insurance much like homeowners insurance will typically exclude coverage for pests -LRB- vermin -RRB- . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: What Percentage Of Renters Have Renters Insurance?

Output: I do n't know of any studies out there that have provided the information that you are asking for . In my limited experience , I wouldmake a guess that the number is somewhere around 30 % or less . This is really concerning as renters insurance is typically very low cost . What happens if there is a fire in your building in another apartment and this in turn causes damage to your apartment making it unlivable ? Ifyou had renters insurance you would typically have funds available to find another place to reside and funds to replace any personal items that may have been damaged . Remember every carrier and every policy is different . Read your policy completely to understand the coverage offered and the exclusions that it may have .


Input: Does Home Insurance Cover Lightning Strikes?

Output: Generally speaking , yes , a standard `` all risk '' Homeowners policy would cover damage resulting from a lightening strike . Certainly damage to your house itself , but also that caused by the sudden electrical surge through either power or cable lines that might damage or destroy appliances or other components would all be covered under your homeowners ' policy . IN addition , if the electrical storm knocks your poer out and you arein teh dark for several days , in many cases your homeowners ' policy would also pay to replace lost food items out of your regrigeratorand freezer .


Input: Do I Need A Will If I Have Life Insurance?

Output: Life insurance pays directly to the beneficiary or beneficiaries upon the death of the insured . Property -LRB- such as a car or a record collection -RRB- , assets -LRB- such asstock or a bank account -RRB- , dependent children -LRB- whose custody would need to be settled -RRB- are all matters you would take care of with a will . Life insurance will pay according to the policy regardless of any mention in a will .


Input: Do I Need A Will If I Have Life Insurance?

Output: Life insurance is an indemnification insurance product that pays death benefit proceeds to the policy beneficiaries at the death of the policy insured . A will is a legal document directing the post mortem wishes of the decedent is regards to the dispersal of assets , child custody and general intent or testament of its author . You need life insurance if you have financial liabilities that could burden your beneficiaries . You need a will to direct your overall wishes in the event of your death .


Input: What Kind Of Health Insurance Is Best?

Output: The best type of health insurance really depends on your circumstances . For example , generally healthy individuals with additional cash on hand are often best suited by High Deductible Health Insurance Plans as they can cover the high deductible if in the rare chance they should require considerable health care . The deductible acts as a stop loss against their total risk of expense exposure . Individuals with less cash on hand , and or those with medical conditions that require more frequent trips to the doctor are generally better suited by Managed Health Care systems like Heath Maintenance Organizations or Preferred Provider Organizations with low deductibles and/or co-pays .


Input: How Much Is Life Insurance If You Smoke?

Output: If you smoke cigarettes , Life Insurance rates run approximate three times what they would be for a nonsmoker . With very competitive smoker rates , the difference is not quite as much ; with a health condition combined with smoking , the difference in premiums could be much higher . Smoking an occasional cigar does not have much effect on rates at all , however . And even a daily cigar can qualify for nonsmoker rates with a few companies . Unfortunately , there is no break for those who are social cigarette smokers except that can be rated Preferred Smoker if their other health and risk factors are Preferred .


Input: How Much Is Life Insurance If You Smoke?

Output: The short answer : Much more expensive than if you did n't ! Rates for smokers tend to be twice -LRB- or more -RRB- as expensive as rates for non-smokers . Some life insurance companies are better suited to smokers than others , so keep this in mind if you are shopping for a policy . An independent agent who has access to a wide variety of carriers can find you the best rates for your particular situation .


Input: How Does Life Insurance Payout?

Output: Life insurance can be paid out in a lump sum , or it can be paid out in regular payments over a set period of time . If paid out in payments , interest is added to what the beneficiary gets , to compensate for the insurance company being able to hang onto the proceeds of the policy longer .


Input: How Does Life Insurance Payout?

Output: Upon the death of the policy insured , the policy owner and/or the policy beneficiary notify the life insurance company . The company sends their death claim form upon request . Once the form is filled out , the certificate of death and newspaper obituary are mailed to the life insurance company and the proceeds are generally received 30 to 60 days later .


Input: Whats Bad About Annuities?

Output: What 's bad about annuities ? Well , it all depends on your point of view . Some will see aspects of annuities as favorable or unfavorable . There is n't a consensus . The negatives that come to the top of my head is the surrender tables , that is if you want to exit or cash out the annuity before it has had time to work . Most annuities have long surrender tables which makes them not so liquid . The other negative might be market return . Because annuities are n't really considered risky , their returns tend not to be flashy . Little risk , little reward .


Input: Whats Bad About Annuities?

Output: There are tax deferred and immediate annuities that are not a good value proposition , just as there are quality annuity polices offered by quality companies . Annuities in and of themselves are not bad , there just a product . To determine if annuities are right for you need to establish a financial profile that includes a risk tolerance test , discovers your effective tax bracket and your goals . There are excellent annuities with crediting method using interest rates , indices and separate sub accounts .


Input: Does A Claim Affect Home Insurance?

Output: It can , yes . Many companies offer a `` Claim Free '' discount if you have not filed a claim is say , 5 years . If you do suffer a loss and then have to file a claim , it is more than likely that if your company had been providing such a discount , that discount would be removed at your next renewal causing your premium to increase . Other companies may apply a surcharge based upon the type of claim you filed which would also affect your premium .


Input: How To Qualify For Both Medicare And Medicaid?

Output: To qualify for Medicare , you must have paid into Medicare taxes , be age 65 -LRB- or if under age 65 , have been receiving Social Security Disability for 2 years -RRB- , or have ESRD or ALS in some circumstances . To qualify for Medicaid , you must have very low income and very low assets .


Input: When Can You Change Home Insurance?

Output: Home Insurance can be changed at any time . A homeowner can cancel his or her insurance at any time and purchase a policy from another carrier . The unearned portion of paid premium will be returned to the Insured in an expeditious manner . A bank or mortgage company is not permitted to require a homeowner to purchase insurance from any specific insurance company . For homes not insurable under Preferred Home Insurance Programs , there are some Sub-Standard Programs which will accept homes which are not in the best of repair or which are declared a high risk to carriers , in the absence of an insurance market for the home , most States have a Fair Plan which will accept the risk sometimes on a Fire Only basis . There is a link available providing an online format to obtain a quote and buy home insurance online in multiple States ; it may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: How Does Home Insurance Treat Hail Damage That Occurred When A Previous Owner Lived There?

Output: Covered homeowners claims are those occurring during the policy term . The responsible insurer would be that which was in place at the time the damage occurred . If the seller does not want to cooperate and simply report the loss to his insurer at the time , it becomes time to call an attorney .


Input: How Does Home Insurance Treat Hail Damage That Occurred When A Previous Owner Lived There?

Output: Most states require that disclosure forms be filled out by the seller , indicating any damage that happened to the property while they owned it . If your state requires such a disclosure , you have legal recourse against the seller for fraudlently filling out the disclosure . If the damage happened in the last year , while the previous owner owned the home , you can probably still have them go back to the insurance they had at the time and file a claim . It 's not unheard of . If it 's been over a year your only recourse would likely be small claims court of a lawsuit . If a realtor helped you buy the home , it might be worth discussing this with them as , if you have a disclosure they can probably help make it clear to the seller that they should not have lied on the disclosure .


Input: Does Renters Insurance Cover Fire Damage?

Output: Loss as a result of fire to personal property is covered . If you are the culprit that starts the fire and have legal liability for the fire , the liability section may provide coverage . If someone else is responsible for the fire the renters policy will not pay for the damages to the building itself .


Input: Does Renters Insurance Cover Fire Damage?

Output: If you are fortunate enough to have purchased a Renters ' Insurance policy when you started leasing your home , then yes , in most cases your personal property would be covered for loss by fire . In fact , protection from fire loss is one of the more standard perils that is included in a Renters ' , Condo unit owner 's or Homeowners ' policy .


Input: Does Renters Insurance Cover Fire Damage?

Output: Great question ! If you are living in an apartment that is damaged by fire , and have renters insurance , you are covered in almost all cases . Water damage if the fire was next door , or smoke damage are usually also covered . Some cases , you may even be covered for the cost of staying somewhere while the damage is assessed . If you need any more help , please feel free to contact me , I 'm happy to help . Thanks for asking !


Input: Why Is Health Insurance Cost Rising?

Output: There are numerous factors involved in the rising cost of health insurance and one could write a book about them . Some of the most important factors are ; 1 -RRB- Health care costs continue to rise . Whether it is hospital services , physician care , prescription drugs or virtually any health care service you can name , their costs continue to rise from one year to the next . Health insurance rates are merely a reflection of the underlying costs of the health care services their policies cover . 2 -RRB- Obamacare Taxes and Fees - buried in your health insurance premiums are taxes and fees that were created by the `` Affordable Care Act '' . Some are direct such as a reinsurance fee that was over $ 5 per covered person per month in 2014 and is to be used to offset losses that insurance companies may incur from enrolling too many unhealthy members now that ObamaCare has prohibited underwriting for risk and pre-existing conditions exclusions , to the medical device tax that adds to the cost of a wide variety of medical devices such as artificial hip joints . These increased costs are , of course , passed on to the consumer . 3 -RRB- Changes to how health insurance policies can be rated and issued - ObamaCare requires that health insurance policies be `` guaranteed issue '' -LRB- a person ca n't be declined for coverage -RRB- and that no pre-existing condition exclusions , limitations or waiting periods are allowed . This literally means that a person can be terminally ill or about to give birth and if they enroll during the annual open enrollment period or a special election period they are guaranteed to get coverage . Obviously , taking on a claim that can range from thousands of dollars to a million or more when the insurance company in turn may receive only a tiny fraction of that amount in premium payments from the sick or injured person creates a shortfall that has to be made up through higher premiums for other insured persons . 4 -RRB- Increasing consumption of health care services . As the American population ages -LRB- with the Baby Boom generation moving into its retirement years -RRB- they naturally consume more health care services of all types . With the barriers to access to health insurance being removed and Medicaid eligibility expansion this also increases the consumption of health care services . A basic law of economics is that increased demand for something with a limited supply -LRB- there are only so many doctors , hospitals , etc. -RRB- will lead to higher prices . While this is not a comprehensive list of the factors driving health insurance costs higher , these are some of the key ingredients .


Input: What Is Life Insurance Death Benefit?

Output: Life insurance death benefit is generally a tax free lump sum proceed distributed to the beneficiaries of a life insurance policy on the death of the policy insured . Life insurance death benefit indemnifies family members , business associates or charitable organizations at the demise of the insured of the policy .


Input: What Is Life Insurance Death Benefit?

Output: The life insurance death benefit is the amount that is left to the beneficiary of the life insurance policy upon the death of the insured person . It is also called the face amount of the policy . The death benefit is at least the amount applied for unless loans were taken and not repaid .


Input: Why Would I Need Life Insurance?

Output: Why would you need life insurance . Maybe you do n't . Perhaps , in the event of your death -LRB- not premature or unexpected of course -RRB- , your spouse and dependents will be financially self-sufficient , you will not have any estate taxes and there will be no additional financial concerns -LRB- such as loss or reduction of pension payments -RRB- . However , if you do n't meet that criteria , maybe a quick meeting with a broker will help you realize how cheap life insurance has become !


Input: Homeowners Insurance On New Build Not Recognized By Post Office. How Do I Get A Quote?

Output: This can happen , for example , any time a new development is being built but the street has not been processed and accepted by the Postal Service . Here in Connecticut , I have not found this to be a huge problem . The property on which your new home sits in fact has some designated identifying lot number assigned to it and recorded in your Town or City offices . If mail is the problem , you can always set up a Post Office Box so that you will receive your insurance documents in good order . I had personal experience with this many years back and it really did not take long for the wheels of the USPS to move their process along .


Input: How Much Will Medicare Pay For Home Health Care?

Output: Medicare does not cover respite care or home health care . If you have a need for medical services by a nurse , therapist , physician assistant or a doctor , Medicare may pay for these professional services on as needed basis . Check with your doctor to learn which professional services should be covered by Medicare .


Input: How To Buy Disability Insurance?

Output: To buy Disability Insurance , start by going to a reputable agent who can guide you through the process . You can save a lot of money , and get the features that will most benefit you , by having an experienced guide to lead your through the Disability Insurance maze . You can find agents online by using search engines , or in the Yellow Pages . If you also want Life or Health Insurance , you can find often Disability Insurance in the same place . The process entails filling out an application , taking a free life insurance exam in your home , and then you usually just sit back and wait to be approved .


Input: How To Buy Disability Insurance?

Output: Disability insurance is part of defensive planning . You need to establish your elimination or waiting period and the length of coverage . Most working Americans have around 90 days of cash reserves , so 90 days would be a consideration for a waiting period . If you can afford long term care to age 65 , you should secure the coverage . But if it 's unaffordable , at least consider short term disability.The are several online brokerage companies that specialize in disability insurance and offer the most competitive carriers in the market .


Input: How Much Does The Average Person Pay For A Life Insurance Policy?

Output: The cost of Life insurance is dependent upon your health , vocation , smoking status and coverage period of your Survivor 's need for cash upon your death . Term plans are very inexpensive because very few insureds die during the coverage period . Permanent plans are more expensive because 100 % of the Surviving beneficiaries will receive its death benefit . Company Actuaries determine the rates for coverages using statistical information matching risk of death of an insured during the coverage period of the plan .


Input: How Much Does The Average Person Pay For A Life Insurance Policy?

Output: How much does the average person pay for life insurance ? Based on my 32 years in the business as a broker -LRB- and there is no right or best answer -RRB- , I would estimate between $ 15 and $ 150 per month . This is , of course , `` per person . '' Term policies are much cheaper than permanent policies and of course that would impact the amount each person pays . And ... each person has different amounts of coverage they carry . You can purchase term coverage for under $ 100 per year depending on age and face amount . But because of economies of scale , that may not be such a good idea . You may be able to double the coverage for slightly more . Quite simply , there will be tremendous variations in the amount that consumers pay for their coverage . A fully-licensed -LRB- full-time -RRB- broker will help you find the lowest prices .


Input: How Much Does The Average Person Pay For A Life Insurance Policy?

Output: Life insurance premiums are priced by gender , health condition , smoking status , amount of death benefit and the length in time of coverage . Male and female that are 25 years old and in super preferred health can pay $ 75 - $ 85 a year for ten year term life insurance for $ 100,000 worth of coverage .


Input: What Does Medicare Cover For Home Health Services?

Output: Medicare does cover Home Health Care , BUT only if : its ordered by a Medicare approved physician AND the person in incapable of leaving the home AND services are rendered by a Medicare approved provider AND the person requires more than just assistance with activities of daily living -LRB- eating , bathing , dressing , toileting , functional mobility -RRB- . Medicare will not pay for services performed by immediate relatives or members of a patients household . Medicare does not pay for Assisted Living or Adult Day Care . If these conditions are met , Medicare will generally cover medical services in the home as ordered by a Medicare approved physician .


Input: When Can I Remove Spouse From Health Insurance?

Output: If you are covered under an individual policy you should be able to drop them from the coverage at any time during the year . The termination would generally be for the first of the coming month as your insurance carrier may decline to do a retroactive termination of coverage due to the possibility of recent unreported claims . You should note though that in today 's environment dropping your spouse from your individual coverage could leave your spouse uninsured until the next open enrollment period , which this year begins on November 15th for an earliest effective date of coverage of January 1 , 2015 . If your spouse is becoming eligible for Medicare then you will want to time the termination of the spouse 's coverage to match with the effective date of their coverage under Medicare . If you are covered under a group health insurance plan and you a having your portion of your health insurance premiums taken out of your paycheck on a pre-tax basis then your employer has a Section 125 plan in place and this restricts changes an employee can make to their enrollment status outside of the group 's open enrollment period . A change of life status event as defined under IRS regulations would have to occur for you to remove your spouse from coverage outside of the open enrollment period .


Input: Is My Home Insurance Tax Deductible?

Output: This is a question better asked of a Tax Professional , of course . Generally speaking they are not , however , there maybe situationswhere it may be possible for at least a portion of the premium . This is where you must consult your tax professional . There are circumstances where a home office is set up , where a portion of home expenses , including insurance MAY be tax deductible . These regulations change regularly so always use the knowledge of your tax professional with regard to Federal and State tax regulations .


Input: Is My Home Insurance Tax Deductible?

Output: Based on my knowledge and education thus far I would say that it is not , but I am not a tax accountant . Please speek with your tax advisor to be provided with the most current and up to date information regarding whether or not a expense that you have is deductible in your current tax year or not .


Input: When Was The First Auto Insurance Policy Written?

Output: The first auto insurance policy was written -LRB- presumably -RRB- in the 1900s and from one of the first insurers active in the property and casualty market . At that time , policies were simplified , limited , cheap and covered a fraction of what policies cover today . Now , you have a much wider choice of carriers and a much broader choice of coverage when you pick out and shop for a policy .


Input: What Is A 5 Year Term Life Insurance Policy?

Output: As mentioned above , a 5 year term insurance is an insurance policy that is in force for 5 years then expires . It is designed for a short term need and or specifically for the purpose of converting to a Whole Life policy within that 5 year period . Most Term policies are `` convertible '' to permanent insurance and some companies limit the type of permanent insurance their term policies may be converted to . In `` converting '' a term to a permanent policy what happens is the face amount of the Term , or a portion of that amount is converted to a Whole Life or Universal life policy without the insured having to undergo additional medical testing or underwriting . The premiums paid to the Term policy are not credited to the new permanent policy and the new premium will be based on the current age of the insured .


Input: What Is A 5 Year Term Life Insurance Policy?

Output: What is a 5 year term policy ? As the name suggest it is a policy that covers you for a specified amount for a specified premium for a period of 5 years . Typically the policy renews at a higher premium at the end of each 5 year period . You should check to see if the renewal is guaranteed and if so at what premium.If there is a possibility you will need permanent coverage you should check into what conversion options are available . If you are in the market for coverage , an independent agent / 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: What Is A 5 Year Term Life Insurance Policy?

Output: A 5 year Term Life Insurance policy has the rate locked in for 5 years . In my experience , the premiums for 5 year Term policies often exceed the premiums for 10 year Term , because there are far fewer companies that offer 5 year Term . If you purchase a 10 year Term policy and only want to keep it 5 years , you can simply cancel it after 5 years with no penalty .


Input: What Is A 5 Year Term Life Insurance Policy?

Output: Great question ! This is a type of policy that fills a short term need - in this case 5 years . Term policies ' coverage stops at the end of that period . It then has to be renewed , and becomes much more expensive , so carefully consider what you want it for . Some good uses for this type of policy ? You need coverage , but at this point ca n't afford a whole life policy . Or you want to cover your child 's ' college expenses for the time they will be in school . If you would like more detail , please feel free to contact me , I 'm happy to help . Thanks for asking !


Input: What Is A 5 Year Term Life Insurance Policy?

Output: Term policies last for a specific number of years so long as you pay the premium . In this case , it would be for five years . After that the policy would end . You would then have to reshop the policy to get the best price , assuming your health remains good enough to qualify . That is why you should buy a longer term policy or a whole life permanent policy . Thank you . GARY LANE


Input: What Is A 5 Year Term Life Insurance Policy?

Output: Just as the name sounds , a 5 year term insurance policy only guarantees the premiums will remain the same for the first 5 years - after that the policy becomes annually renewable and the premiums will increase each year -LRB- based on age -RRB- . Many companies feature a minimum 10 year policy and the rates are often cheaper to secure a 10 year term policy than a 5 year policy . Term life insurance guarantees the premiums will remain fixed for a specific number of years -LRB- 5 , 10 , 15 , 20 , 25 , or 30 years -RRB- . Once the initial period of premium guarantee expires , the program changes to either annual renewable term insurance with premiums increasing each year -LRB- based on age -RRB- or the premiums remain the same and the death benefit decreases each year -LRB- this structure is commonly seen on term insurance that is featured on a universal life chassis -RRB- .


Input: What Is A 5 Year Term Life Insurance Policy?

Output: Terms if bought for a specific number of years ' coverage . If you pay the premium on a five year term , it lass five years and then ends . If you want more , you have to shop for another policy at that time . It makes sense then to buy a longer term or a permanent whole life policy . Thank you . GARY LANE .


Input: Who Can Be On Your Auto Insurance Policy?

Output: Typically the people that can be listed on your auto insurance policy include any immediate family that are licensed drivers that reside in the same premise , any licensed drivers that you are the legal guardian of , and possibly a co-cohabitant within the same premise . Please contact a local agent to discuss coverage availability and pricing within your area .


Input: How To Calculate How Much Homeowners Insurance You Need?

Output: The best way to calculate how much homeowner 's insurance you need is to do an estimated replacement cost on your home . This takes about 5 minutes and it involves determining the square footage of your home along with many other calculations . A licensed broker can quickly calculate the needed information and provide a free quote for the entire policy package .


Input: Is Home Insurance Part Of Closing Cost?

Output: If the premium for a homeowners policy is in an escrow closing that will be noted in the papers you sign . If you are responsible to provide the insurance , outside of the closing , the lender will normally require evidence of insurance at or before closing . This can create difficulties when you refinance in the middle of the year and move from a loan with an escrow account to one without an escrow account . If you fail to notify the insurance company the premium notice goes to the wrong place and it can lead to a policy lapse which is a major headache !!


Input: When Does A Life Insurance Policy Mature?

Output: It depends on how the policy was designed . A whole life insurance policy matures when it pays out a death benefit on policies that have no stated maturity date . Otherwise , the policy will indicate a maturity date which , on many whole life policies , may be age 95 , 98 , 100 , 120 , etc. . The issue with a policy that matures while the insured is still alive is that the maturity benefit will be taxable as the cash is constructively received at that point . Many policies in recent years have maturity extension riders or policy provisions which can extend maturity to prevent such an unwelcome situation so check your policy . Death benefits are normally received income tax-free but a living maturity is income taxable to the extent of gain in the contract to the policy-owner . If maturity is approaching and such riders are not present , insurers have been known to agree , upon request , to continue the policy extra-contractually . Contact an experienced life insurance professional for assistance .


Input: When Does A Life Insurance Policy Mature?

Output: Life Insurance Policies can mature at the end of coverage as with term life insurance , a limited indemnification product . Term can be extended with a conversation provision in the policy in the case the coverage is necessary beyond the original time period . Maturated dates on permanent policies extend out to age 121 and some use the phrase , life of the insured .


Input: How Can I Be Sure My 401(k) Will Still Be There For Me In Retirement In 30 Years?

Output: King Solomon had a keen insight into exactly what you are asking . In Proverbs 6:6 -8 we read , Go to the ant , you sluggard ; consider its ways and be wise ! It has no commander , no overseer or ruler , yet it stores its provisions in summer and gathers its food at harvest . Ants have done this for millennia . Of course they havent the benefit of the internet and financial pundits but they spend their days preparing for the days to come . In another place King Solomon spoke of those who would not leave the safety of their home for fear of what might happen . Again , that doesnt work either .


Input: How Can I Be Sure My 401(k) Will Still Be There For Me In Retirement In 30 Years?

Output: It 's a good question brought about by being pounded with doom and gloom that seems to dominate the media . The chances of what you think happening are pretty limited as there is much oversight of financial products here in the United States . That said , you can contribute up to the matching limit and go elsewhere to invest money for the future . The big thing is the future is coming whether you invest or not . When it gets here , you 'll have saved money or not . If you do n't trust your employer 's plan , and I am not saying that is crazy or wrong , do something else as an individual and get into the habit of saving . There are a huge amount of choices out there you can do . They all have different risks involved and tax consequences . Find what makes you comfortable enough that you will do it for the next 30 years . Cheers .


Input: How Can I Be Sure My 401(k) Will Still Be There For Me In Retirement In 30 Years?

Output: That is a really good question ! And trust me , you 're not the only one asking it ... There are really very few certainties in life , but we all seek to find as many as possible . Knowing that we have a safely protected retirement certainly ranks up near the top . While we can not guarantee that our retirement fund will last , there are some things that you can do to help ensure it : 1 . -RRB- Have a clear picture of what retirement means to you - does it mean travelling and dining out often ? If so , your fund will need to be large enough to accommodate that . If it looks more like fishing and working part time , then perhaps your fund can be a little more modest , and still be fine . But if you do not know , `` People without vision perish , '' as the Proverb goes . 2 . -RRB- Pay close attention to how your 401k is performing . If you do n't know what it is doing , you are right to worry . While I do not recommend knee jerk reactions to losses , trends are worth paying attention to , especially if they are negative , precipitous , and lengthy . 3 . -RRB- Know your spending habits . Have a very good grip on your budget process , and where you can squeeze out a little more to invest . Having good habits and keeping debt low entering retirement helps with the life of your investment also . 4 . -RRB- Do not put all of your eggs in one basket , or as you more commonly hear , diversify . Start a Roth IRA to balance out your taxable 401k ; Purchase an annuity or two to ensure a steady income stream that will not run out . Purchase some property that you can earn an income from during retirement ; invest in bonds and low maintenance mutual funds . 5 . -RRB- Plan for the inevitable medical expenses that come with age . The Law allows for a dedicated retirement account used exclusively for health care to be non-taxable , if health issues are likely , start one . Look at a life insurance policy that includes living benefit provisions , or look into long term care protection . If your company offers an HSA , enroll , and start paying into it . 6 . -RRB- Save , save , save . Find high yield savings accounts , and be certain to have an emergency account . Having one allows you to be able to not have to make withdrawals from your retirement funds , or acquire more debt . Having one allows you to be able to make investments that otherwise would only be dreams . The best way to alleviate worry is to trust ; Faith in the One who provides for us , and being a good steward of what we 're given allows us to sleep at night . Hopefully there are ideas here that will help you . Please feel free to contact me if you would like a more personal analysis of where you sit . A great question , and one I 'm glad that you asked . Thanks !


Input: Does Health Insurance Cover Scoliosis Surgery?

Output: Scoliosis is an abnormal curvature of the spine . There are many ways to treat and manage scoliosis including but not limited to braces , physical therapy , chiropractic treatment , osteopathic treatment , casting and as a last resort , surgery . If the condition can not be effectively treated with less invasive treatment , your health insurance carrier should cover surgical intervention .


Input: Is Hormone Replacement Therapy Covered By Medicare?

Output: It depends on the therapy involved but as a rule yes as long as your doctor finds that it is medically necessary . There may be cases where such therapy is considered experimental or beyond what Medicare feels is necessary . In such cases Medicare may not want to pay .


Input: What Is The Accumulation Period For Immediate Annuities?

Output: There is no accumulation period for immediate annuities . After you purchase the SPIA -LRB- Single Premium Immediate Annuity -RRB- with a single lump sum amount , you are able to begin receiving payments from the annuity almost immediately . Typically , you will receive your first payment one month after the immediate annuity is procured .


Input: How Fast Can You Get Auto Insurance?

Output: In most cases auto insurance can be purchased in one day or the same day you request to quote . As long as all information is provided and validated there is no reason why anyone ca n't get insurance the same day as long as it 's not to late in the day .


Input: Who Can Qualify For Disability Insurance?

Output: To qualify for Disability Insurance , applicants need to show that they do not have an exceptionally high risk of becoming disabled . Having a health condition that lends itself to becoming disabled , even though the risk of death is very low -LRB- e.g. MS -RRB- will make it difficult to get a Disability Insurance policy . The applicant must also earn an income . Stay at home workers who are not compensated are unable to qualify for disability insurance .


Input: What Life Insurance Can You Cash Out?

Output: Life insurance that can be cashed out is life insurance with a cash value . This is Whole Life or Universal Life , although not every Whole or Universal Life policy has cash value at any given time . Term policies can only be cashed out if they are Return of Premium -LRB- ROP -RRB- Term . And you must wait until at least half the term has passed before you can get any cash when surrendering an ROP term policy .


Input: What Life Insurance Can You Cash Out?

Output: You can only cash out life insurance that has a cash value build-up . Permanent life insurance programs -LRB- including both universal and whole life policies -RRB- bulid cash value - term insurance programs do not build cash value . If you 're looking to cash out your policy , there are a number of things to consider before deciding whether to cash out any life insurance policy . One of the things that most people do n't think about is their insurability , especially when they have an existing plan . They may have preferred rates at the time they got it , but are now being treated for some medical conditions -LRB- heart issues , diabetes , cancer , etc. -RRB- and may be looking at standard or substandard rates on a new plan if they decided to get coverage again later on . If you 're looking at securing new coverage / replacing the old policy , you should compare the two structures and make sure it 's the most favorable course of action for you . Another item to review on the policy before cashing out is whether there are still any surrender charges on the policy and whether there would be any taxable gains -LRB- the cash value is greater than the sum total of premiums paid into the policy -RRB- - these 2 items can affect how much money you actually receive if you cashed out the policy . I highly recommend consulting with an experienced insurance broker who can review all of these points and others with you so you can make sure it 's an optimal move for you . After all things considered and you still want to cash out the policy , you can call the carrier/contact your agent and tell them you want to terminate the coverage -LRB- the amount you receive would be less any surrender charges or loan fees , if applicable -RRB- and they 'll send you the necessary paperwork Depending on the size of the cash out , an option to consider would be putting the money into an annuity to guarantee an income for the rest of your life -LRB- or for a fixed number of years -RRB- . I hope the information is helpful - please feel free to contact me for help and if you have any questions . Thanks very much .


Input: What Life Insurance Can You Cash Out?

Output: How much money do you want to cash out ? Do you want to cash out tax free money ? Are you planning for retirement , emergency fund , college savings for kids , or an income replacement ? These are some important questions you should ask your self . Whats the most important thing to you ? Life insurance can solve many problems cash or protection . I believe having an expert adviser educate you on the benefits of owning life insurance and how it can benefit you and your family is priceless . Two products to look out for is index universal life and whole life . You can have your money grow with a fixed rate of return on your money can earn higher returns with stock market like growth with the upside potential with out the downside risk . Visit my site for some free educational videos .


Input: What Life Insurance Can You Cash Out?

Output: What type of insurance can you cash out ? Well , those with cash values would be the first to come to mind . Some cash value policies would allow you to take the full amount shown as cash values . Others , may have a surrender table that means you would forfeit some of those cash values if you are removing funds too early .


Input: What Life Insurance Can You Cash Out?

Output: There are two main types of life insurance . The first is term life insurance which has no cash value . Think of it as renting . The second type of life insurance is cash value life insurance . The most popular go by names like , whole life , universal life , indexed universal life and variable life . All of which have cash value that builds with time . If you have one of these types of plans , look for the pages marked `` illustrations '' . You will find a cash value column explaining how much cash is built up in a given year . Most policies allow you to take a `` cash loan '' against them and keep your coverage in force . You may also cash out completely or roll the cash value to another plan . You will find the average policy will not have cash value until coverage has been in force for about 5 years .


Input: What Is The Age Limit For Long Term Care Insurance?

Output: The age limit for buying Long Term Care is usually 84 years old . For your information , the average age that people buy Long Term Care is 57 . It 's obviously more affordable to buy it when you 're younger , but if you 're younger than 84 , it 's not too late ! If you are older and the price is an issue , get as much as you can comfortably afford because most long term care claims occur in your own home , not in a nursing home . Therefore , the amount of cover you need may not be $ 150 - $ 200/day ... it may only be $ 80 or $ 100/day . So my advice is : get as much as you can comfortably afford and continue to pay for .


Input: What Is Life Insurance Advantages And Disadvantages?

Output: The advantages of life insurance are three fold . The death benefit proceeds can pay the bills , fund future obligations and make a difference for your children and charities . The economic leverage for a healthy insured is significant and the tax advantages considerable . The diversity of the product line can be customized to the individual consumer . The only disadvantage of life insurance , like any other product , is that you have to pay for it .


Input: What Is Life Insurance Advantages And Disadvantages?

Output: I believe there are way more advantages to owning life insurance than disadvantages . The only disadvantage I can think of is having to pay ongoing premiums until death . The advantages are almost too numerous to list . Here are some of the most important . Life insurance provides income protection for loved ones left behind , repays debt , educates children , gives peace of mind , protects key employees , protects business partnerships , helps with savings for retirement and is almost always tax free .


Input: Does Medigap Plan F Cover Chiropractic?

Output: It depends . Medicare part B may cover some chiropractic services if they are deemed medically necessary to correct a subluxation in the spine . If it 's not deemed medically necessary , then it would n't be covered . With any Medigap plan , including Medigap plan F , it will only cover a service charge if Medicare covers it . If Medicare does n't approve it , then the Medigap plan wo n't be able to approve the charge . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much .


Input: When Does My Auto Insurance Policy Expire?

Output: Your auto insurance expires -LRB- technically -RRB- on the cancellation date of the contract . If you do not pay your bill , you will receive -LRB- at some point -RRB- a notice in writing that your policy will expire on a specific date . That date is your expiration date and coverage ends . So do n't drive on or beyond that date without either paying the premium or securing other coverage .


Input: Is Personal Disability Insurance Worth It?

Output: Personal Disability Insurance is worth it if you need your income to live the life you are accustomed to , or to provide for others . Disability due to injury or illness is something that can happen at any age . Spending 3 % of one 's salary to protect you from a total loss of income in the future is worth it for most people .


Input: How much does car insurance go down at 25?

Output: Auto rates are based on state law . In California there isnt any change in the rate because companies are not allowed to rate based upon age . In California they rate based upon experience . Drivers who have been licensed recently pay more than those who were licensed many years ago . Rates are changed at renewals but not based upon attained age In California .


Input: How much does car insurance go down at 25?

Output: Most people dont enjoy paying their auto insurance premiums each and every month ! So , they often look forward to scheduled rate decreases , such as at the age of 25 . Why do car insurance rates decrease at this age ? Well , because the majority of crash claims are filed by young -LRB- ages 16 through 24 -RRB- and older drivers . As a driver matures , they become less likely to become involved in a crash according to statistics , so to offer an incentive for drivers to stay with a particular insurance company , discounts are often offered at the age of 25 . While it is generally true that auto insurance rates will decrease at the age of 25 , it isnt always the case . Drivers can expect their car insurance rates to decline at the age of 25 assuming the following remain constant - their driving history , incident history , and the make and model of their car . If all of these factors remain the same , male drivers can expect a premium discount as high as 20 % , while female drivers can expect a 12-15 % discount on their rate . Keep in mind that the above discount ranges are averages ; there isnt currently a standard amount of deduction that can be expected ; rate decreases will depend not only on the drivers history , but the insurance company , the type of coverage selected and the overall state of the economy .


Input: Why Is My Health Insurance Deductible So High?

Output: Your health insurance deductible is determined by the plan you signed up for . Catastrophic and bronze plans have your highest deductibles , silver is your mid level plan , and gold and platinum are your lowest deductible plans . The lower the deductible , the higher your premium . The reason for this is carriers offer a lower premium in exchange for you taking on a larger share of the risk of healthcare expenses . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Will Medicare Pay For Any Dental Work?

Output: Original Medicare does not pay for dental work that is part of routine care of the teeth , such as exam , cleanings , fluoride treatments , or fillings . It also will not pay for dentures . Some Medicare Supplement plans will cover some dental work . Medicare will cover oral work that done to protect or treat the patient 's general health , or to prepare the patient for surgery , radiation , etc that will be performed for a health condition . It will also cover jaw surgery for a broken jaw , or follow up to an infection after an extraction . If the dental patient has a life threatening condition , Medicare may pay for the cost of hospitalization but not the dental work itself .


Input: Which Annuities Are Safe?

Output: An annuity policy is only as safe as the annuity company 's financial strength and ability to pay the benefits of the contract . so financial stability and strength is important . There are generally three crediting methods used in tax deferred annuities : interest rate crediting , indexed crediting and separate sub account crediting -LRB- or debiting . -RRB- The safer of the three is guaranteed fixed interest rate annuities .


Input: What Is A Nonforfeiture Option In Life Insurance?

Output: A nonforfeiture option basically states that if you stop paying your premium beyond the grace period , you will not lose any equity you might have in the policy . In the old days , before nonforfeiture options , if you stopped paying your premiums , you would lose everything , including your own equity . Fortunately , nonforfeiture options were developed for this reason .


Input: What Is A Nonforfeiture Option In Life Insurance?

Output: A nonforfeiture clause in life insurance will make allowances if the policy lapses or is terminated . These include the option for some or all of the premiums to be returned , the policy to be changed to a paid up policy , or the cash value to be paid to the policy owner .


Input: How To Get Medicare Insurance?

Output: You can enroll in Medicare at age 65 if you have at least 10 years in the Social Security system as a wage earner , are a US citizen or legal resident and have lived in the US at least 5 years . If you do not have SS wages you may qualify from your spouse 's earnings .


Input: How To Get Medicare Insurance?

Output: You will automatically be enrolled in Medicare when you turn 65 . I am assuming you mean a Medicare Supplement or Medicare Advantage Plan . While there a number of ways to purchase Medicare Supplement Insurance on-line , I would sit down with a good local independent agent who specializes in Medicare plans . A good experienced agent will explain your options and help you find the plan that is right for you .


Input: What Does MEC Mean In Life Insurance?

Output: MEC is a Modified Endowment Contract . It is a life insurance policy that meets the IRS definition of life insurance but fails a specific premium test -LRB- the seven pay test -RRB- meant to limit using life insurance as a tax sheltered investment vehicle and was established in a tax change in 1988 -LRB- TAMRA -RRB- . MEC policies still retain income tax-free death benefit characteristic . But , it changes the favorable tax treatment of cash value distributions normally associated with life insurance to tax treatment normally associated with annuities . Owners of a MEC would not likely plan to take cash from the policy . Typically , MECs created on purpose are single premium policies and used in estate planning techniques . For example , instead of a large single premium annuity which would result in income tax payable on the death benefit proceeds , some high net worth individuals may elect to fund a single premium life insurance policy which provides an income tax-free death benefit .


Input: What Does MEC Mean In Life Insurance?

Output: Jerry provides an excellent description of exactly what a `` MEC '' is just above here , so I wo n't re-hash that . Often when illustrating a policy the statement will appear with a warning that the policy will `` MEC '' at year so-and-so . That means that the policy will become a modified endowment contract at that point . One of the benefits of Whole Life policies is that you can `` over fund '' them to a point without causing them to MEC . By doing that - paying more than the minimum premium - you can accelerate the cash value growth and even the benefit value of the policy if it 's with a Mutual company that pays dividends and offers `` paid up additions '' . As Jerry mentioned some people choose to fund a policy with a single payment , which results in a MEC . However the MEC can be avoided and the policy be used for the tax benefits inherent with life insurance , and the resulting cash value used tax free , etc by funding the policy over 11 payments -LRB- 11 years -RRB- rather than a single payment or fewer than 11 . Those interested in the `` Infinite Banking '' strategies available with whole life policies will often take this option .


Input: What Happens If You Drop Health Insurance?

Output: Of course you would be running the risk of financial ruin if something bad happens to your health , but I assume you already know that . In regards to the new laws , as part of the Affordable Care Act you are now required to carry health insurance . There are a couple of exceptions . You can refuse on religious grounds , or based on a fact that it is beyond your means to purchase health insurance -LRB- too expensive -RRB- . If the government disagrees with you , or if you ca n't take one of those exceptions , you may owe a penalty of 1 % of your income or $ 95.00 / person -LRB- whichever is higher -RRB- for 2014 . In 2015 that tax penalty goes up . Why are you considering dropping your health insurance ? Are you aware that many people qualify for free or reduced price health insurance under the Affordable Care Act ?


Input: Does Term Life Insurance End At A Certain Age?

Output: Yes generally term insurance policies end or expire at a certain age . The exact age depends on the particular policy , but age 85 is common . Term insurance polices are often renewable and convertible . That means that they renew for a higher premium at the end of each term 10,20 , or 30 for example . It also means that up tp a specified age you can convert them to a level premium permanent insurance plan that does not expire before you do . An independent life insurance broker representing several companies can help you find the right policy at the right price .


Input: Does Term Life Insurance End At A Certain Age?

Output: Term life insurance may end at the end of the term , or it may go up in price at the end of the term . The end of the term is the period when the guaranteed premium ends . E.g. . If you buy a ten year term policy , the policy will end or the premium will go up at the start of year 11 . Because the premiums go up so high , most people do end their term policies when the term ends . However , if there is a provision for the premium to go up -LRB- called annually renewable -RRB- , it can go up to whatever age the policy dictates . Some are annually renewable as high as age 90 . Another option offered for many term policies is to convert the policy to permanent insurance . This must be done before the term ends . Again , the price per thousand dollars of coverage is much higher for the new policy than it was for the term policy . However , it is a good option if you can not qualify for new insurance , and you may be able to take a smaller face amount to keep the premium affordable .


Input: Does Term Life Insurance End At A Certain Age?

Output: Term life insurance keeps the premiums fixed and guaranteed for a specific number of years -LRB- e.g. 10 , 15 , 20 , 25 , or 30 years -RRB- . After the term period has expired , the premiums change to annual renewable term insurance and increase each year -LRB- based on age -RRB- . You can elect to continue the existing term insurance policy up until age 95 -LRB- with most policies -RRB- , however , the price to keep that policy in force becomes astronomical and you would never pay it past the first couple of years . Most people replace a term insurance policy with a new term or permanent policy.Permanent insurance is designed to cover you for the rest of your life . The only way a permanent insurance can expire early is if it 's `` dialed down '' - meaning the death benefit is designed to only go to a specific age/policy year -LRB- e.g. dialed down to age 90 -RRB- . Dialing down a policy can be useful to reduce your premiums , but still provide good coverage longevity . I hope the input helps . Please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Does Term Life Insurance End At A Certain Age?

Output: Most term life policies expire at a given age . In practice most expire much earlier because the term of the policy has been reached -LRB- 10 yr. , 20 yr . etc. -RRB- or the increasing premium makes the coverage too expensive . If you were to look on line at a graph showing the death rate per 100,000 at various ages you will understand the problem of term insurance on older people .


Input: Does Term Life Insurance End At A Certain Age?

Output: Term life insurance keeps the premiums fixed and guaranteed for a specific number of years -LRB- e.g. 10 , 15 , 20 , 25 , or 30 years -RRB- . After the term period has expired , the premiums change to annual renewable term insurance and increase each year -LRB- based on age -RRB- . You can elect to continue the existing term insurance policy up until age 95 -LRB- with most policies -RRB- , however , the price to keep that policy in force becomes astronomical and you would never pay it past the first couple of years . Most people replace a term insurance policy with a new term or permanent policy.Permanent insurance is designed to cover you for the rest of your life . The only way a permanent insurance can expire early is if it 's `` dialed down '' - meaning the death benefit is designed to only go to a specific age/policy year -LRB- e.g. dialed down to age 90 -RRB- . Dialing down a policy can be useful to reduce your premiums , but still provide good coverage longevity . I hope the information is helpful . Please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Does Term Life Insurance End At A Certain Age?

Output: Depends on the policy . It may just have a level payment premium fixed for a certain number of years , and then continue indefinitely , but with premiums increasing each year , skyrocketing , in many cases . Or it may state it will end completely after a specific number of years . This is one reason folks consider whole life policies , which last a lifetime , with fixed premiums . Although they start higher , they end up being cheaper in many cases , while building cash value . Thank you . GARY LANE .


Input: Does Term Life Insurance End At A Certain Age?

Output: That is a great question ! I 'm personally glad that you asked , as I think this is an area where a lot of people get misled , and too often with tragic results . A normal term policy will have a very defined time period that covers you . It is typically between 5-20 years . Where the trouble lies is in some of the ones that are direct mailed to you , or are marketed on TV . Often those term life policies are marketed to Senior Citizens , and can be misleading . They will tell you in small print , or in passing -LRB- my ` favorite ' is the tv one where they flash a big red $ 19.95 a month on the screen as the announcer says `` term to age 80 '' - in most cases , you focus on the money , and miss the age limit -RRB- that these policies end when you turn 80 . The average life expectancy is 82 . What happens when you live to be 80 and a day ? Coverage is now impossible to afford , let alone get , and there is no cash or coverage from the expired term policy . Please contact an agent or advisor who is knowledgeable about insurance before buying anything , ok ? Thanks for asking !


Input: Does Term Life Insurance End At A Certain Age?

Output: Yes term insurance ends at a certain age as stated in the policy contract . The age that term policies expire has risen over the years . I have observed over that the age most term insurance policies expire is a couple of years before projected life expectancy . For example when life expectancy was 67 , policies expired at 65 , 76 then 75 , Now most expire at age 85 . Term policies do contain a conversion to permanent insurance before a specified date . 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: What Does Third Party Motorcycle Insurance Cover?

Output: Third party is referring to the person you injure if you were to be found negligent after an accident occurs . This is most commonly referred to as `` liability '' insurance on your policy and is expressed as `` bodily injury & property damage '' on your insurance declaration page under most circumstances . It may be abbreviated as `` BI-PD '' as a form of insurance shorthand . The limits may be expressed as a single limit for the `` BI-PD '' or as split limits shown as `` BI '' per person and per occurrence and `` PD '' per occurrence . Good luck .


Input: Will Car Insurance Go Up After Accident?

Output: If it is an at fault accident then it can go up . Each company is different and some will forgive the first incident before raising your rates . A lot depends on driving record prior to the accident . So to answer your question , Yes it can go up , but that does not mean it will .


Input: Does Medicare Cover Type 2 Diabetes?

Output: Medicare Part A is your hospital insurance and Part B is your physician insurance - when you have both of these , it 's commonly referred to as `` Original Medicare '' . Services and procedures performed to treat the diabetes condition would be covered by Medicare . Original Medicare only covers about 80 % of the expenses - you can supplement the Original Medicare coverage with a Medigap plan to cover a portion or all of the other 20 % of healthcare expenses -LRB- there 's 10 different standardized plans and you 'll want to consult with an experienced Medigap broker to determine the one that 's right for your needs and budget -RRB- . Prescriptions to treat diabetes -LRB- e.g. insulin , metformin , etc. -RRB- would be covered under a Part D plan that supplements your Original Medicare coverage . Refer to your plans formulary to see if a specific prescription is covered . Glucose meters , test strips , lancet devices , and lancets can be covered under Part B as durable medical equipment -LRB- DMEs -RRB- . Please feel free to contact me for help or if you have any other questions . Thanks very much .


Input: Does Medicare Cover Type 2 Diabetes?

Output: Yes and no . Medicare covers a lot of parts to diabetic care , but some of it will have to be covered by other means . For specific diabetic benefits , your original Medicare coverage -LRB- Parts A & B -RRB- will cover certain testing supplies and services including blood sugar testing monitors and testing strips , lancet devices and lancets , and glucose control solutions . These items are considered durable medical equipment -LRB- DMEs -RRB- and would be covered under Part B. Prescriptions such as insulin and metformin -LRB- common treatment medicines for diabetes -RRB- would be covered under a Part D prescription drug plan - Part B would not provide coverage for these types of diabetic care items . Original Medicare only covers 80 % of the expenses so you may want to consider adding a Medigap plan to cover all or a portion of the other 20 % . Consult with an experienced broker who can review your specific medical history and help you determine the best course of action for your needs . Please feel free to contact me for help or if you have any other questions . Thanks very much .


Input: Can You Keep A Car Without Insurance?

Output: You are allowed to own a vehicle without insurance however the vehicle is not allowed on the roadway . Also in most states you will have to file a non operator or non-opp with the DMV . Since rules can vary by state I recommend you contact your local insurance agent and local DMV to discuss .


Input: What Kind Of Life Insurance Should I Buy?

Output: There are many choices of life insurance available to you . The main stream life insurance products are term life , universal life , variable life and whole life . Each one has a specific purpose . Term life insurance is meant to coverage a specific period of time . The common terms are 1-5-10-15-20-25-30-35 years . This means the rate or premium you purchase is guaranteed level for that period of time regardless of change in health , life style or occupation . Term life is commonly used for younger people starting out in life , covering a large debt , life a mortgage on a home or business debt , or covering for a young child 's education . term life insurance allows for the largest face amount for the smallest premium payments . Universal life and variable life are permanent life insurance solutions that build cash value . Typically the premiums are more expensive and the face amounts are less because part of the premium is going into a cash value fund that can be invested with numerous options . The cash value can later be used for retirement , college funds , critical or chronic illness or even to purchase a large asset like a home . The universal and variable options are typically more aggressive with the cash value funds . The last option , whole life insurance , is very similar to the previous universal life insurance options . However , the cash value funds are typically a fixed percentage of growth . Whole life as it 's name suggests is primarily meant to cover you for your entire life . I recommend using an experienced independent life insurance broker with numerous carriers to shop the market and find you the best product at the best price for your unique situation . Good luck .


Input: What Kind Of Life Insurance Should I Buy?

Output: Life inusrance comes in two basic types : term and permanent . Once you determine if your financial liabilities , future obigations and any charitable intent are temporal or permanent , you can select the right type of life inusrance . If temporal , then term life insurance . If permanent , then participating whole life or guranteed universal life .


Input: Who Should Own Key Man Life Insurance?

Output: Key man life insurance is for an employee in a business or organization whose loss would put a financial strain on that business or group . Some types of persons who should own key person insurance are top sales people , people who have much knowledge based on years of experience , managers of lots of employees , and/or key decision makers . All these positions take time to develop and to find the right person to replace that key employee . The key man insurance provides money to do the recruiting and operation while the key person is being replaced and trained .


Input: What Is Loss Of Use In Home Insurance?

Output: `` Loss of Use '' coverage in a Homeowners ' Policy provides benefits that pay for additional living expenses that you and your family may have if you are forced to leave your home after it was damaged due to a covered loss . Some examples of these expenses may be the cost of a hotel stay or short term rental , perhaps the costs associated with eating out , laundry etc. . There will more than likely be certain limitations , so it is always best to talk to your Insurance Professional about the specific terms and conditions of your policy .


Input: What Is Loss Of Use In Home Insurance?

Output: This coverage provides for living expenses for the insured if they experience a covered loss within there home where the property is uninhabitable . This coverage will typically be capped at a specified dollar amount and time frame . Please read your policy completely to understand what coverage is offered and what exclusions there may be or contact your local agent to have them go over the policy with you .


Input: What The Difference Between Annuities And IRA?

Output: An IRA is an `` Individual Retirement Arrangement '' which falls under IRS Publication 590 . There are many types of IRA accounts such as Traditional IRA , Roth IRA , SEP IRA and Simple IRA . IRA 's came about in 1974 through the Employee Retirement Income Security Act -LRB- ERISA -RRB- . There are limits as to how much you can contribute each year and when you can pull your money out without penalty . An annuity is a product sold by a financial institution that can grow and when annuitized , can produce an income stream . Annuities can be structured to pay out for a fixed period of time or for your entire lifetime . An annuity can be part of your IRA .


Input: What The Difference Between Annuities And IRA?

Output: The differences between Annuities and IRA 's is pretty simple . IRA 's are considered qualified meaning you have to follow the limitations to how much you can contribute . Annuities by themselves do not have any limitations other than any limitations insurance companies put on them which are always higher . IRA 's are subject to RMD 's or required minimum distributions meaning at at 70 1/2 , you will be required to start taking distributions from your IRA as outlined in IRS rules .


Input: Is Medigap The Same As Part C?

Output: Medigap and Medicare Part C are not the same . Medigap -LRB- Medicare Supplement insurance -RRB- policy is private health insurance established to supplement Original Medicare Part A and Part B . There are 10 standardized Medigap Plans with benefits designed to pay for Medicare approved charges not covered by Part A and Part B. Part C refers to a Medicare Advantage Plan . This type of Plan acts like an HMO or PPO . It combines your Medicare Part A and Part B , and usually Part D into one Plan -LRB- Part C -RRB- .


Input: How Can I Get Health Insurance For My Family?

Output: There are multiple ways to get health insurance for you and your family and , depending on where you live , a wide array of options for health insurance coverage types and cost points . With the implementation of the ObamaCare requirements individual health insurance plans and costs have been transformed dramatically and the consumer needs to exercise great care in making their health plan selection . My first and best recommendation is to seek out the services of an experienced health insurance agent who is certified to sell health insurance coverage both on and off of the government health insurance marketplace in your state of residence . There can be much more involved in a health insurance plan than what a bullet points overview of the plan 's benefits are and its monthly premium . A knowledgeable health insurance agent can explain if a given plan covers you if you go outside its network , if it has a broad or a narrow pharmacy network , if the plan 's medical deductible applies per person covered or is aggregated for the family , and a whole lot of other things you should know before making your purchasing decision . Under ObamaCare if you purchase a health insurance plan you later learn you do n't like it 's not just a simple matter of cancelling your coverage and enrolling with another insurance carrier . So , buyer beware . If you and your family have income levels below 100 % or 138 % -LRB- depending upon the state you live in -RRB- of the Federal Poverty Level then you will qualify for coverage under your state 's Medicaid plan . In that event you need to contact your state government 's Medicaid office . Of course , there is the HealthCare.gov web site that you can go to and shop for coverage and enroll online . Quite frankly , while HealthCare.gov has improved somewhat over last year 's rocky start , I find most consumers still have a hard time truly understanding the information as it is presented on HealthCare.gov and they still need a knowledgeable person to explain the differences between various plan offerings and how to approach the subsidy process . Also , there are other online sites available , some with telephonic support to help answer a person 's questions . This can be kind of crap shoot though as you may or may not be talking to someone who understands the details of your particular location 's health plan options and they are n't doing much more than reading you a summary off of their own computer screen . So , remember , health insurance is still a very local product and varies from state to state and even within different areas within a state . You will be best served to deal with someone who is more locally based in most cases .


Input: How Do I Notify Medicare Of A Death?

Output: Medicare should be notified of your death as soon as possible . Medicare will request a certified death certificate as part of the process . Assuming you have a Medicare supplement plan , your carrier should also be notified of your death . If Medicare and your Medigap carrier are not notified in time to stop your next payment , you can ask for a refund .


Input: Is It Possible To Get Insurance On A Car That Is Not Registered To You?

Output: Typically , you buy insurance on a vehicle that is registered and titled to you . The car insurance declarations page will have your name and other information listed for easy view . However , it is possible that there could be drivers listed on the policy that are not the owners of the vehicle . This is quite common .


Input: Is It Possible To Get Insurance On A Car That Is Not Registered To You?

Output: Depending on your states requirements . In Montana you have to have an insurable interest in the auto . Other cases where you can insure a car that is not in your name is when you have a child living in your home and you have your car and theirs on the policy . There are otherreasons why you would do this example would be your fianc lives with you and you both drive only one car but the car is just your fiancs name the yes you could place this on a policy that you and your fianc are on the policy and even thought you do not own the car you own the policy and they are now the 2nd named insured


Input: How Much Does Medicare Pay For A Knee Replacement?

Output: The actual amount Medicare pays is not an issue . The only question is will all providers including surgeon , hospital , labs , etc. participate in the Medicare system . In the absence of a supplement to pay all or part of these charges , there will be a hospital deductible charged along with 80 % of professional services . Rick


Input: How Much Does Medicare Pay For A Knee Replacement?

Output: The cost of complete knee replacement is about $ 45,000 . The Medicare allowance is in the $ 11,000 range . A partial knee replacement is about half that amount . As Rick indicated , a good Medigap plan could reduce your out of pocket cost to $ 0 if you had Medicare supplement plan F . A little more with a different plan .


Input: How To Borrow Money From Life Insurance?

Output: Cash value life insurance accumulates tax deferred . You can access cash value life insurance via withdrawals to basis and policy loans of gain . There are rules to withdrawals of basic that govern the first 15 years of a life insurance policy , so be aware of it before withdrawing . Withdrawals of basis may be tax free as are loans provided the contract is kept in force for the life of the insured . Policy loans charge interest as well .


Input: What To Consider When Buying Long Term Care Insurance?

Output: The # 1 item in considering long term care are the policy definitions on assisted home living and nursing home confinement . Policy provisions attempt to address the benefits of the contract Understanding those benefits can help you select the right long term care insurance policy and measure it 's value for the premium you 'll pay .


Input: Who Has The Best Health Insurance In Nevada?

Output: If you are looking to compare health insurance plans you can use this site and they give you quotes from all major health insurance companies in Nevada WEBSITELINK . There are many different options when choosing your health insurance so you can pick the options that fit your needs and get quotes from each company for that same coverage .


Input: How To Switch Life Insurance?

Output: New York State has very strict regulations for life insurance agents and companies regarding replacement of a life insurance policy . Commonly referred to as `` Reg . 60 '' due to the section of the life insurance code dealing with replacements , it mandates that agents follow a strict disclosure process anytime they are recommending someone change or replace their existing life insurance policy . The disclosure process is even required if the agent has any reason to believe that the sale may impact an existing policy , even if he is not making that recommendation . While the regulation can be onerous on the agent and the replacing company , it helps to protect the insured . The agent has to provide a side-by-side comparison of the new policy to the the existing policy and disclose all potential disadvantages to replacing the policy .


Input: How To Switch Life Insurance?

Output: Here are the Golden rules for switching life insurance . 1 -RRB- Make sure you get approved and pay for the new policy . DO NOT terminate your current policy until the new policy is in force . This way , you will avoid a potentially hazardous gap in coverage . 2 -RRB- Notify your current carrier of your wish to terminate the current policy . If you are paying premiums through a bank draft , be sure to notify your bank to not accept debits from this company . 3 -RRB- Request a refund of unused premium if you have already paid in advance for coverage on the current policy . 4 -RRB- If the current policy has cash value , make sure your broker is handling the exchange of that money into the new policy cleanly . This way you will avoid a potential taxable event . There are large areas for error in this process . Your broker needs to stay on top of things .


Input: How To Switch Life Insurance?

Output: The owner of a life insurance policy can surrender it at any time . If the policy has cash value , there are optional ways to receive the cash value . If it is a term policy , the coverage will cease and you will no longer pay premiums . If you still want coverage It is never advisable to surrender a life insurance policy until another policy is in force .


Input: How To Switch Life Insurance?

Output: It depends if you want to switch companies or plans of the same company . To change a company one must shop first to find what coverage they may want to replace the other with . Cancel the old coverage first for if you do n't you may wind up being billed for two policies . Collect any cash value from old policy . Then you may select new coverage . To convert one coverage from another . Just advise the company that you want to convert your policy . If you have a term and want to convert to whole life is simple just tell the agent . You can convert term to whole life but not the contrary .


Input: Can An Employer Pay An Employee For Opting Out Of Health Insurance?

Output: That is a great question ! When you consider that there is an estimated $ 3 trillion in employer payments for insurance , and their burden of risk , it sure makes sense that it wo n't take long for somebody to decide that there is big profit in not insuring the employees . By law , the bigger employers have to offer something for health plans , but a trend now is to offer the employees a subsidy to help pay for a plan that they pick for themselves off the Affordable Care Act -LRB- Obamacare -RRB- website . In a move that is designed to relieve the employer of the risk , and a great share of the cost , -LRB- equaling great profits -RRB- the employee is able to `` pick a plan better suited for them '' . I would expect to see a lot of this , as soon as they are sure that it withstands legal scrutiny . Thanks for asking !


Input: Can An Employer Pay An Employee For Opting Out Of Health Insurance?

Output: This is a very common practice in county and municipal government . Most employees are union members with negotiated health benefits . Many employers pay most or all of the premium for gold-plated family plans . When two spouses work for government employers , the employer is paying very high premiums for coverage that is not necessary . Many employers then offer opt-out bonuses to employers who waive the employer sponsored coverage . The employee has to show evidence of coverage through the spouse to be eligible .


Input: When To Surrender Life Insurance?

Output: Few good reasons to surrender a life policy . My own personal doctor did just that , and how he has no life insurance . He said he does not need it because he has so much money . But if he were to lose that money , his family would get nothing upon his death . Not a wise move . When surrendered , a whole life policy has cash surrender value which you would get , but if you need that money , New York Life allows you to borrow against that money and keep it tax free .


Input: When To Surrender Life Insurance?

Output: Why would you want to `` surrender life insurance '' . I am assuming that your life insurance policy is an individual policy that you purchased years ago and has `` cash value '' . It has nothing to do with a `` retirement plan '' so the IRS has no control over the policy as they do with a `` retirement plan '' . There are many things you can do with the life insurance policy to make it continue to not only provide a `` death benefit '' but you can also use it to generate additional sources of income , you could change the beneficiary to your children therefore the death benefits would pass to them by `` contract law '' and you can even use it to provide a source of `` non-taxable long term care benefits by converting it to a Private Pension Act qualified plan . While you can certainly surrender the policy and pay the tax consequences when you do I hope you realize their are many ways you can continue to make that policy help you to reach financial goals .


Input: Can I Get Life Insurance If I Am Unemployed?

Output: Can you get life insurance if unemployed ? Yes , you can purchase life insurance while unemployed . Depending on the face amount requested however , you may have have to show the ability to pay for and the necessity for a higher level of coverage . The lower face amounts would not require as much review .


Input: Can I Get Life Insurance If I Am Unemployed?

Output: The vast majority of life insurance companies need to know the premium funding source and thats not necessarily employment earnings . Retirement income from qualified plans or cash positions can be used as well as annuities distributions or sales of securities . Keep in mind that transaction sales of assets may have taxation ramifications .


Input: Can I Get Life Insurance If I Am Unemployed?

Output: If you are unemployed you should still be eligible for a small policy , and if you have many assets you could even get a large policy . A stay at home spouse can usually get up to the amount of coverage that his/her spouse has on them . Students who are graduating soon can often get coverage based on their anticipated income .


Input: When Is An Employer Required To Offer Health Insurance?

Output: No one is required to offer health insurance , but employers are strongly encouraged to offer it as a way of attracting people to come work for them . Depending on how many employees there are for a given company , the employer may be subject to employer shared responsibility payments if they do n't offer group coverage and meet enrollment requirements . Employers also often offer group health insurance because they can get certain tax deductions and tax credits for doing so and enrolling employees . If you want to look into setting up a group health plan to offer your employees -LRB- or want to review your existing coverage to see if something better is available -RRB- , you want to work with an experienced health insurance broker . There 's many moving parts to group coverage . We have in-depth knowledge of the products available and can help design a policy that is suitable to your needs , your budget , and will offer great coverage to your staff . Please let me know if I can be of assistance . Thanks very much .


Input: How To Calculate Group Term Life Insurance?

Output: Calculating Group Term Life Insurance is best done using the illustration systems which your Agent/Broker has access to or call the insurance company themselves . The upside to Group Life Insurance is the `` free '' coverage or the additional coverage you get for pennies on the dollar . The downside is that usually they do not follow you when you leave your employment . There are some exceptions so I recommend you talk to your HR rep.