Input: What Is My Car Insurance Policy Number?

Output: Your policy number is a number assigned to each individual policy to identify the policy that is associated with the owner of the policy . You will find your policy number located on your auto insurance ID card or declarations page . If you are unsure of your policy number I recommend you call your insurance provider and they can assist you in obtaining your policy number .


Input: Is Metlife Still Selling Long Term Care Insurance?

Output: MetLife quit selling new individual long term care life insurance policies at the end of 2010 . The company quit taking new enrollments to existing group multi-life long term care insurance plans in 2011 . Those individuals and groups who already had long term care policies with MetLife before this time had no changes to their coverage .


Input: What Age Does Disability Insurance End?

Output: The best disability insurance policies will have a benefit period to age 65 or 67 . Some carriers like Lloyds of London will go even higher . If there is significant health history , or if the insured wants a cheaper policy , then the benefit period can be 2 , 5 or even 10 years . Keep in mind that if you have a 5 year benefit period , but you become disabled at age 65 , your policy wo n't actually pay for five more years . Depending on your policy , it will only pay until age 65 or 67 -- not until age 70 .


Input: What Age Does Disability Insurance End?

Output: What age does disability coverage end ? It will depend on the contract . Disability policies can vary from ending at 65 up to age 75 depending on the carrier and what their contact states for an end date . Some plans reduce benefit or length of payout past age 65 . Depending on the company you choose your payout could go anywhere from 2 years to lifetime .


Input: How Much Is Renters Insurance Typically?

Output: The cost of renters insurance is going to vary by location and amount of coverage 's desired but with all the being said I typically see renters insurance range in the $ 150.00 - $ 250.00 range for an annual policy . Many auto insurance providers will offer discounts if you bundle renters insurance with the same company .


Input: What Does Allstate Renters Insurance Cover?

Output: The primary coverage is for loss of your personal property due to the covered perils such as fire , water , wind , hail , theft , lightning , smoke , explosion , vandalism and so on . The standard deductible is the $ 500 minimum , after which covered claims are paid out . The second part of your policy is for medical payments and personal liability coverage . If any of your guests should be injured on your property , they would receive up to the coverage limit for medical payments coverage . Personal liability is usually a $ 100,000 minimum and can be increased . Liability arising through the use of your residence -LRB- such as a water leaking and causing damage to an adjacent unit -RRB- or other personal liability claims against yourself would be covered and would help provide you with the monetary means in the event of a lawsuit , as well as legal defense . You also have loss of use coverage that would cover the accommodation and relocation expenses of living elsewhere if your residence becomes uninhabitable due to a covered claim such as smoke or fire damage to your unit .


Input: How Much Does Disability Insurance Cost Employers?

Output: The cost of disability insurance on a carrier depends on a lot of variables . These variables include : Number of employees , type of occupation of the employees , length of benefit period , definition of disability coverage , and percentage of income covered under the plan . Not surprisingly , the better the benefits , the more physical the average worker 's job is , and the higher the number of employees , the greater the expense of the insurance .


Input: Does Renters Insurance Cover Bed Bug Infestation?

Output: A renters policy excludes damage caused by insects unless it is hidden damage -LRB- an unsuspected termite infestation leads to the collapse of a building . -RRB- Insect services are available but the homeowners policy will not cover the expense .


Input: What Does Loss Of Use Mean In Home Insurance?

Output: If your home is severely damaged or destroyed by a covered peril in your policy , a fire for example , and the house is not fit to be lived in , this coverage in your policy will pay for additional living expenses for you and your family . These can include staying in a hotel or temporarily renting a place for you to live . It can also include the above normal costs to eat out or do laundry etc. .


Input: What Does Loss Of Use Mean In Home Insurance?

Output: The term loss of use is probably referring to Coverage D on the standard Homeowners policy . This provides that if your home is damaged as a result of one of the named perils -LRB- fire , lightning etc. -RRB- the company will pay the necessary and reasonable increase in living expenses that you incur to maintain the normal standard of living for your household . This would apply if the premises are unfit for use . The company may choose to settle you in new quarters .


Input: How To Purchase Long Term Disability Insurance?

Output: To purchase long term disability insurance , you can contact a broker who can compare multiple policies for you . That way you are more likely to get the best price for your particular health and occupation . Once you select a policy , you will take a free paramed exam , and the insurance company may order medical records . When approved , you will receive the policy and accept it by paying the first premium .


Input: What Is The Medicare Approved Cost For An Mri?

Output: Unfortunately that is an answer that an insurance agent can give . It all depends on the exact procedure , why it is being performed , where it is being performed and how the billing department codes the bill to Medicare . Medicare pays the claims based on these codes and this information and approves according to a schedule . Without knowing the codes it is impossible to give a correct answer .


Input: What Is The Medicare Approved Cost For An Mri?

Output: Medicare does not publish their fee schedule to the public , but you can get an idea of the Medicare allowance for MRI , CT scans , etc. . You can check out healthcarebluebook dot com as a resource and get an idea of fees . You can also Google Medicare DRG rates or Medicare payment schedule for information


Input: Can I Buy Life Insurance For My Parents?

Output: Yes , you can buy life insurance for your parents per some guidelines : 1 -RRB- If you are going to own the policy for your parents , you can get a small policy to be used on final expenses . If you want to own a policy on them for a larger amount , you must show that you contribute to their lives financially -LRB- e.g. they live with you -RRB- or more so , that you would suffer financial loss if they would die -LRB- e.g. you live with them -RRB- . 2 -RRB- If you are going to just pay for the policy and they will own their own policies , you can buy them as much as they qualify for financially . The face amount will be based on their income , net worth , and age . 3 -RRB- They will need to sign their own life insurance applications , showing their agreement to the policies you are purchasing for them . Many kind hearted and responsible people buy life insurance for their parents so that they have the assurance that there we will money to give them a decent sendoff , and without financial stress . A good place to start is to go to a website that sells Senior Life Insurance .


Input: Can I Buy Life Insurance For My Parents?

Output: That is a great question ! You certainly can , if you can do three things : First , they have to agree , and understand what you are asking them to do . Secondly , they have to sign off on it , as it is a legal document . Lastly , you have to be able to show the insurance company that there would be a loss to you should your parents pass . That is usually the easy part . I hope that helps , thanks for asking !


Input: Which Is Better Medicare Or Medicare Advantage?

Output: Original Medicare , with or without a supplement plan , allows you to use any doctor , lab or hospital anywhere in the U.S. that accepts Medicare assignment . Most Medicare Advantage plans have limited network that require you to use their participating facilities or else you pay a significant penalty for out of network benefits .


Input: Is Life Insurance Settlement Taxable Income?

Output: Is a life insurance settlement a taxable event ? Well the answer is depends . Normally life insurance premiums are paid with after tax dollars so based on IRS code the benefit paid is considered tax free . That said , some retirement plans can use life insurance and likewise in some business applications and write off the premium , which then makes the benefit taxable income when taken .


Input: Is Life Insurance Settlement Taxable Income?

Output: That is a great question ! One of the main reasons to purchase a life insurance policy is the tax free benefit that is received by your named beneficiaries . If you 've named beneficiaries on your policy , as a rule , the benefit will not be taxed . There can be tax issues if no beneficiary has been named -LRB- or they 've passed -RRB- and the payment goes into the deceased 's estate , especially if that estate is a sizeable one . Thanks for asking !


Input: Is Life Insurance Settlement Taxable Income?

Output: The settlement when made to an individual does not constitute a taxable event . When the proceeds are paid to anyone else it could be taxed . This income tax free feature can be crucial in planning your estate . For example , if you can identify your eleven grandchildren and purchase a single premium whole life policy on yourself naming them as beneficiary , you can take care of their needs in your estate without triggering any income tax consequences .


Input: Is Life Insurance Settlement Taxable Income?

Output: When you are the beneficiary of a life insurance settlement , it is usually not taxable income . If the insurance settlement was left to the estate of the Insured , it is subject to income tax . And either way , if the amount pushes the value of the estate over the exempted amount , estate taxes will need to be paid on the amount above the exempted amount -LRB- federal estate tax is charged on estates over 5.25 . M in 2013 -RRB- .


Input: How Long Does it Take To Get An Auto Insurance Quote?

Output: The average is 15 minutes that is with running all the divers in the household and vin verifications and comparing with many carriers . a Local independent who can compare rates with many carriers it may take a bit longer but the national average is 15 minutes . Our agency makes sure to take the time to explain all your coverage 's and listen to your wants and needs rather then just running a number in front of your face and telling you this is what the rate is and no listen to what you want for coverage . many agencies have what is called a comparative rater and they can show what the rate is with all the carriers that they have available .


Input: How Long Does it Take To Get An Auto Insurance Quote?

Output: It typically takes only a few minutes for an auto insurance quote . You will be questioned on the drivers and vehicles in the household and your coverage needs and wants . For verified rates drivers license numbers are needed , and in many states for many insurance companies , the social security number for the head of household as well .


Input: Can You Cancel Disability Insurance?

Output: If your employer sponsors an employee group benefit plan , the odds are that short term disability is incorporated into the plan and cant be canceled unless you withdraw from the plan completely . If you have individual disability insurance and you control the policy as the policy owner , you can cease making payments . But be advised disability insurance is paycheck protection against periods of disability , so consult with your financial adviser before canceling valuable coverage .


Input: Why Doesn'T Medicare Cover Prescriptions?

Output: Some prescriptions are covered by Medicare . Medication administered while you are in the hospital as an inpatient are covered under Medicare Part A. Drugs administered via infusion in a clinic , hospital outpatient or doctors office are usually covered under Part B . Many other drugs are covered under Medicare Part D through private insurance carriers


Input: What Is An Employer Sponsored Retirement Plan?

Output: There are many employer sponsored qualified retirement plans under ERISA , the Employment Retirement Income Security Act of 1974 . Perhaps the most popular defined contribution plan is a 401 -LRB- k -RRB- . The contributions are pre tax , accumulate tax deferred and are taxable as ordinary income at distributions . Some employers also offer contribution matches .


Input: What Is Wellpoint Health Insurance?

Output: WellPoint Health Networks , Inc. merged with Anthem where the name WellPoint , Inc. was adopted . WellPoint is an independent company of the BCBS Association . WellPoint is nowthe largest managed health care company in the Blue Cross and Blue Shield family association serving California , Colorado , Connecticut , Georgia , Indian , Kentucky , Maine , Missouri , Nevada , New Hampshire , New York , Ohio , Virginia , Washington D.C. , and Wisconsin . It operates under other names in the mentioned states as Blue Cross , Anthem and UniCare .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: Term insurance can build a `` terminal reserve '' and it is a cash value but it is not available to the policy owner as cash . Return of premium features aside , term insurance does n't otherwise generate `` cash value . '' The reason a `` terminal reserve '' develops is that in early years of the policy life the premium is in excess of the true risk charge and the policy banks the excess premium for later years when the premium collected is less than needed to pay the risk cost . Annual Renewable Term -LRB- ART -RRB- was priced for each year . 20 year level term averages the 20 years of premium charges into an average annual premium -LRB- level premium -RRB- . The averaging of premium is why a terminal reserve develops .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: Term Life has NO cash value . Some providers will allow you to buy a `` return of premium rider '' on a term policy . This is better than nothing , but not a good investment . If you should exercise the return of premium option you will not receive any interest on the money you 've paid in , and likely will not recover the entire amount paid as there will be fees assessed .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: I offer my clients cash value term insurance when it fits their needs . The cash value is not significant but can be helpful if the insured wishes to maintain the insurance past the period -LRB- 10 , 20 , or 30 years -RRB- during which the premium is guaranteed . Some clients find that extra cushion very important .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: That is a great question ! The traditional term policy does not have a cash value , and very few moving parts . That is why they are so cheap . The industry has begun to offer term policies that have some options to get your premiums back , and so have a small cash value , but they are more expensive than the term policy most people would think of . So as a rule , no this type of policy wo n't have a cash value . If that is something that you want , a whole life policy is what you should look into . Thanks for asking !


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: Although the great majority of term policies have no cash value , there are some `` return of premium '' policies that do accumulate cash and are designed to return all premiums at the end ot the term period . So yes , it is possible to have cash value but it does not work in the same way the cash value in a whole life or universal policy would work .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: It is not normal for a term life insurance policy to have a cash value . As Lenny said , if you buy a return of premium term policy , it will return the premiums you paid in if you keep the policy until the end of the term . But you can not collect that unless you surrender the policy . Term insurance keeps its prices down by only offering a death benefit without the added benefit of accumulating a cash value .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: Term insurance is pure level protection offered for 10 , 15.20 , or 30 years and carries no cash value build up in it . This type of coverage is much more affordable and because it is much cheaper than traditional cash value insurance the policyholder can be covered by the right amount of protection at the time in life that it is needed the most , the early years . Savings should always be separated from the life insurance and should include 401ks , IRAs , and mutual funds . Only buy term insurance and save the difference outside the policy and this growth in assests will eventually eliminate the need for life insurance all together in the later years .


Input: Can A Term Life Insurance Policy Have A Cash Value?

Output: Traditional term life insurance does not have cash accumulation component as mentioned earlier . The return of premium feature is not really a cash value but rather a cash refund . We do sell a specialized term life with an annuity rider allowing the policyholder to build a separate cash value outside of the term life insurance with a split premium . That is as close as I have personally seen in the market place .


Input: Is A Drug Overdose Covered By Life Insurance?

Output: If the policy was obtained legally -LRB- i.e. the applicant did not lie or omit facts about past drug use -RRB- and was not a result of suicide during the first two years of the policy , the life insurance policy will most likely pay for death due to drug overdose .


Input: Is TSP An Employer Sponsored Retirement Plan?

Output: The Thrift Savings Plan -LRB- TSP -RRB- is a federal qualified defined contribution plan for U.S. civil service employees and uniformed service members . The Thrift Savings Plan is part of the Federal Employees Retirement System is similar to 401 -LRB- k -RRB- and Roth 401k .


Input: How To Determine Roth IRA Eligibility?

Output: Roth IRA eligibility is simple . You can contribute up to $ 5,500 if your under age 50 & $ 6,500 if you are over age 50 . If your income level -LRB- as a single individual -RRB- reaches $ 114,000 , then your contribution begins to phase out . Once your income reaches $ 129k , you can no longer contribute to a Roth IRA . If you are married , filing jointly , your phase out begins at $ 96,000 through $ 116,000 at which you can no longer contribute to your Roth IRA . For further information , feel free to contact me or reach out to your broker adviser .


Input: Does Your Homeowners Insurance Go Up When You File A Claim?

Output: Claim history is a big factor for insurance companies but just because you have a claim does n't mean your rate is going to increase . Several factors are used to determine a rate including the length of time you have been with an insurance company , credit , type of claim filed , amount of claim , castropheclaimsect . Homeowners insurance is designed to cover `` sudden and accidental '' losses . It is not a maintenance policy and you do not want to file small claims . Filing frequent , small claims will cause your rateto increase or your policy may be cancelled .


Input: Does Whole Life Insurance Build Cash Value?

Output: One of the elements of most permanent Life Insurance products , whether they are traditional `` Whole Life '' or some form of variable product is the inside build up of cash , yes . The accumulation inside the contract grows and does so , in most cases , on a tax-free or tax-deferred basis .


Input: What Does Grandfathered Status Mean In Health Insurance?

Output: Under the Affordable Care Act , Plans that were effective on March 23 , 2010 are `` grandfathered '' assuming they meet certain specific requirements . Even if you changed health insurance companies , you could still have maintained your grandfathered status as long as other changes to benefits still meet the required guidelines . This feature was updated in November of 2010 . One example of the requirements is that the employer can not substantially increase the out of pocket costs -LRB- your deductible , for example -RRB- .


Input: What Is The Penalty For Not Having Health Insurance In 2014?

Output: In 2014 the penalty for not having health insurance under the Patient Protection and Affordability Act -LRB- PPACA aka Obamacare -RRB- will be the greater of $ 95 or 1 % of your income . This will increase to a total in 2016 to the greater of $ 695 or 2.5 % of your income .


Input: Where To Get Disability Insurance?

Output: You can get disability insurance through your employer if it is offered as a benefit . You can also purchase individual disability insurance from any agent who is licensed to sell disability insurance in your state . You can search online for various insurance agents that offer to sell disability insurance in your state .


Input: What Are Some Of The Best Life Insurance Companies?

Output: There are hundreds of life insurance companies in the United States -LRB- down from thousands of companies in the late 80 's -RRB- . They are ranked by agency ratings , revenue , number of employees , customer satisfaction , and other ways . As brokers , we all have some that we like better than others . But that is our opinion , and our choices may not be based on your criteria . You can look at ratings from AM Best , S&P , and other agencies to see which are rated highest . Then read about other details that may mean a lot to you . When it comes down to applying , you will want to go with one that has the best price for you , while still being a good company .


Input: What Are Some Of The Best Life Insurance Companies?

Output: The best life insurance companies are the ones admitted to do business in your state . That is a good reason to avoid doing mail-order life business . Your state insurance commissioner works hard to make sure that you are protected and that the companies that have been admitted in your state will keep their promises . Many states provide contingency plans to make sure that you are protected .


Input: What Is Medicare QMB?

Output: Medicare QMB stands for Qualified Medicare Beneficiary . It one of three Medicare Savings Programs -LRB- MSPs -RRB- for low income persons , so that they can receive help with their Medicare costs . QMG will pay for Medicare Part A and Part B premiums , deductibles , co-insurance and co-pays . Contact Medicare to see if you qualify for this assistance .


Input: How Are Annuities Protected From Creditors?

Output: There are assets protected from creditors by federal and/or state statute . Those assets are considered essential for the debtor to maintain at least a financial well-being . Creditor protection is balanced by the concerns for creditor 's rights to access the debtor 's assets . Annuities can be argued as a legitimate retirement plan like IRAs . Some states exempt annuities from the claims of creditors . Each state has differing views and regulations on the claims of creditors . Seek out legal counsel to determine what assets are protected from claims of creditors .


Input: Can An Individual Buy Short Term Disability Insurance?

Output: An individual can buy a short term disability policy , but there are very few choices in the private market . For someone going to a company to buy a disability insurance policy on their own -LRB- not through their workplace -RRB- , you will have many more options to buy long term disability than short term disability insurance .


Input: Can An Individual Buy Short Term Disability Insurance?

Output: Individuals can buy short term disability at work or through a local agent . Many work site based carriers sell individual policies paid for via payroll deduction . You can only get them at work , but they are fully portable if you separate from your employer . Individual work site policies are most in demand as they do cover normal childbirth . You can also purchase an individual policy by contacting a local agent and making direct payments to the insurer . The underwriting criteria are more strict , and the policies do not cover normal childbirth .


Input: Is offering life insurance a requirement for employers in WA State?

Output: Does an employer have to offer life insurance in Washington State ? Short answer `` NO '' . Life insurance is not a requirement as health insurance is . Most employers offer some life insurance as it usually comes bundled with medical plans . Employers also get a tax write off on the cost of 50k coverage as an incentive to provide some life insurance .


Input: Is offering life insurance a requirement for employers in WA State?

Output: For legal information on the topic , it would be best to consult with an attorney who has a background with employer/employee benefits in your state . I do n't believe employers are required to offer life insurance to employees , but many do as an incentive to come work for their business . However , if the life insurance benefit is offered , I think there are minimum requirements that may need to be followed . If your job does not offer life insurance and you are looking to secure coverage , you would need to purchase an individual life insurance policy which my group can help you with . You can send me an e-mail via the contact me button next to my name . I hope the information is helpful - please feel free to contact me with any other questions . Thanks very much .


Input: Is offering life insurance a requirement for employers in WA State?

Output: No , life insurance is not a state mandate for employers to offer to employees in Washington state , or any other state that I am aware of . Some states require that employers offer disability insurance , but there are not any states that I am aware of that require employees to offer life insurance to their employees .


Input: Do Universal Life Insurance Premiums Increase?

Output: Universal Life Insurance premiums will not increase if you purchase a policy where they are guaranteed not to increase . If you do not buy a policy with that type guarantee , there is a chance your premiums will need to be increased for your policy to stay in effect as long as you want it to . The good news is that UL policies can be purchased with lifetime premium guarantees , or guarantees for the premium to stay level for shorter periods of time , at a slightly lower price .


Input: Do Universal Life Insurance Premiums Increase?

Output: A universal life policy differs from a whole life type policy in that the accumulation portion of the policy is not the responsibility of the insurance company , rather it is the responsibility of the policy owner . This allows the owner to change deposits to suit their ability to accumulate money . It could be that at some future point that the policy will start to have declining accumulations because the cost of insurance could exceed the owners deposits . The owner then must either increase the rate of deposits , decrease the coverage or face a collapse of the policy .


Input: Do Universal Life Insurance Premiums Increase?

Output: Yes , premiums can increase with a universal policy . They do not normally increase , but in a period of extreme market collapse , they have done so . Generally now , there are terms which can guarantee that not happening . But if your investments fell sharply , additional payments over the guaranteed payment , may be needed . A way to avoid this ever happening is to purchase indexed universal life . With this product , you participate in much of the market 's growth , but are guaranteed that you will not lose money and lock in your profits regularly . Talk with an agent . Thank you . GARY LANE .


Input: Do Universal Life Insurance Premiums Increase?

Output: That is a great question ! Universal life policies are not like other life insurance policies . A term policy has clearly defined time periods of coverage and payment amounts and frequency . A whole life policy has a set payment , and a certain end date -LRB- yours -RRB- . A universal , or variable , policy is not so clearly defined , and therefore is not the best policy for some people . In this type of policy , your payments , and length of coverage are dependent upon investment performance , and if the investments do poorly , the policy alters to adjust . That means your payments may increase dramatically , your coverage shorten , or your policy collapses and goes belly up . Your policy may make guarantees about these things , you will need to check with your agent and see . Good luck . Thanks for asking !


Input: Do Universal Life Insurance Premiums Increase?

Output: Do Universal life premiums increase ? Yes and no . While the outside premium you pay may not change over time , the internal cost of term insurance increases within the policy . The thing is part of the set up of universal life is a side account where excess premium is deposited into either a fixed account or a variable one . These accounts earn returns over time and the cash values actually help with the cost of insurance within the policy .


Input: What Do Health Insurance Companies Do To Make Money?

Output: Health insurance companies pay hundreds of millions of dollars of claims each year . Some are very big -LRB- in excess of $ 100,000 -RRB- and others are quite small . The health insurers also collect premiums from customers . After claims , administrative expenses , taxes -LRB- a lot of them ! -RRB- and other items , there may be some money left over .


Input: How Do I Find Out Who My Home Insurance Is With?

Output: If you had your homeowners insurance set up with your mortgage carrier then I would contact them about the name of your homeowners insurance coverage . Regardless of how you initially secured your coverage you should have received some sort of documentation -LRB- digital or paper -RRB- that identifies the name of the carrier along with the details of your coverage .


Input: How Do I Find Out Who My Home Insurance Is With?

Output: Am I correct in assuming that your use of ` who ' in your question refers to the insurance carrier ? If you purchased the coverage and did not receive evidence of the coverage , binder , or a policy , contact the source of the insurance -LRB- if you know the agent or broker -RRB- and ask for a policy . The declarations page -LRB- s -RRB- should set forth the name of the insurance carrier , the name of the insured -LRB- s -RRB- , and the particulars of the contract . If you did not purchase the coverage , some entity -LRB- like a lender/mortgage holder , homeowners association , Co-op , or Condo association , etc. with an insurable interest -RRB- may have purchased the policy . You can contact this entity and pose your question . In most states a homeowners policy must be in the name of the owner -LRB- showing insurable interest -RRB- and the home must be occupied by the owner -LRB- eligibility requirement for most homeowners policies . -RRB- More details of your situation are needed to provide a more specific answer .


Input: Does Someone Have Life Insurance On Me?

Output: the only possible explanation for you not to be aware that someone took out a life insurance policy on you without your knowledge would have been as a child . Your parents or grandparents could have purchased a life insurance policy on you as a child . Since you were a minor you would not have been required to sign the application . Otherwise , as Peggy stated , no .


Input: Does Someone Have Life Insurance On Me?

Output: For someone to have life insurance on you , you would have had to sign an application for the policy . No one can take our a life insurance policy on another person without their permission . If there was an exam or phone interview , as is required with most policies , you would have had to also done those . So you would know if someone has a life insurance policy on you .


Input: Does AAA Offer Term Life Insurance?

Output: Yes , AAA does offer term life insurance directly to consumers . They have a rating of A - from A.M.Best , the life insurance rating company . However , unlike homeowners or auto coverage , no carrier can offer a discount for life insurance . You will find many carriers less expensive and with higher financial ratings than AAA . Find a good independent life insurance agent that can help with your coverage .


Input: Is Medicare Benefits Taxable?

Output: Medicare benefits are not taxable . They are health insurance claim payments , a reimbursement -LRB- if you will -RRB- for services rendered . That being said , when Medicare pays a claim it does n't matter if they send the claim check to your provider -LRB- that accepts assignment -RRB- or to you -LRB- if you use a provider that does not accept assignment -RRB- .


Input: What Is A Cash Surrender Value Of Life Insurance?

Output: A cash surrender value would be the amount that you would receive if the policy is surrendered -LRB- in other words canceled -RRB- by you . As with anything else there are typically restrictions and exclusions within the policy . Please read your policy completely or contact your local agent to get a better understanding of what coverage and exclusions are in effect with your policy .


Input: What Is A Cash Surrender Value Of Life Insurance?

Output: Certain types of policy build cash value as you hold on to them over the years . At some point you may decide to cancel the policy . Ifyou do decide to cancelyou can get the accumulated cash value that has been built up in the policy . Typically this amount will grow over time . Ifthat is a feature that interests you , then discuss with an agent the types of policies that offer that benefit .


Input: Can A Company Provide Health Insurance To A Non Employee?

Output: The only non-employee that a company could cover would be the family members of the employee . In order to get group health insurance , companies must provide a quarterly wage report to prove that the company is eligible to obtain group coverage and that the people on the plan are actually employees .


Input: Does State Farm Do Home Insurance?

Output: State Farm offers home insurance in most US states , but may not beselling new policies inevery state . For example , due to the risk of catastrophic claims costs from hurricanes , State Farm does not sell new home insurance policies in Florida.Contacta local State Farm agent , and they can let you know if State Farm home insuranceis available in your state .


Input: How Long Does It Take To Get Money From Life Insurance?

Output: It can take from days to months to receive the benefits of a life insurance claim . Part of it depends on how thoroughly the death claim paperwork is completed . Each states 's insurance regulators monitor claim payment times and will give the insurance companies a bad mark if they take too long to pay out the life insurance benefit .


Input: How Long Does It Take To Get Money From Life Insurance?

Output: My father passed away this February and my mom got the benefits from his policies a few weeks after submitting the death claims . Getting the certified death certificate to submit with the death claim actually took about as long as getting the life insurance payments did . One of these policies was taken out in 1945 . Life insurance is an amazing thing .


Input: How Long Does It Take To Get Money From Life Insurance?

Output: That is a critical question in making your selection of life insurance companies . Some companies question and challenge every claim . Some companies take over six months to pay on claims . Some companies try to get the beneficiary to invest in their annuities or other plans , rather than making a payment to them . We have seen them all . I am proud to say that New York Life is known for the quickest payment in the industry . Claims are honored , even if they are in a gray area , and paid promptly . Our average life insurance claim is paid in less than one week . Please call me . Gary Lane , Registered Representative , 949 797 2424 . Thank you .


Input: How Long Does It Take To Get Money From Life Insurance?

Output: Assuming the question is addressing death claim proceeds ; there is a standard practice among life insurance companies to verify the validity of the claim . This is especially true in the two year contestability period beginning at the date of the policy issuance . Generally speaking , death benefit proceeds should be received in 30-60 days .


Input: What Are Current Immediate Annuity Rates?

Output: Immediate annuity rates vary according to your age . They also vary based upon the type of survivor benefit you might want included . Since most companies use similar data to prepare their rates , you will probably find that they are fairly similar . Check with a licensed insurance agent for accurate up to date information .


Input: What Are Current Immediate Annuity Rates?

Output: That is a great question ! Unfortunately , each company will offer rates that are based off of your age , the annuity itself , and any riders that you might want to have added . I 'd love to give you even a ballpark number , but I have annuities that offer really low rates , and some that are double digit , so they are all over the board . Best thing to do is contact an agent -LRB- or agents -RRB- and get a feel for what 's out there that looks right for you . Happy hunting , and thanks for asking !


Input: Do Medigap Policies Cover Pre Existing Conditions?

Output: Yes , Medigap -LRB- aka Medicare Supplements -RRB- generally cover pre-existing conditions for Medicare approved expenses . The Center for Medicare and Medicaid Services -LRB- CMS -RRB- requires that all plans -LRB- A-N -RRB- provide a set of standardized benefits . For example , all Medigap Plan F Supplements have the same mandatory benefits regardless of the Insurance Carrier . Carriers may also offer optional benefits like Silver & Fit , Silver Sneakers , 24 Hour Nurse Hotline , etc. .


Input: Is Medigap A PPO?

Output: Medgap , like Medicare , does not have networks . You are free to use any doctor , hospital or other medical provider anywhere in the United States . There are no out of network penalties or loss of coverage . To minimize your out of pocket exposure you should always use medical providers that accept assignment .


Input: How Much Does Single Premium Life Insurance Cost?

Output: The smallest premium I have seen for single premium life insurance is $ 1,500 . The highest is in the millions . The amount of coverage that you can get for any given single premium depends on your age , health history , tobacco use , gender , height-weight , etc. . Your independent agent can give you rates for many companies and help you understand which companies will approve you .


Input: When Does Medicare Pay For Ambulance Service?

Output: Medicare Part B covers emergency ambulance transport to a hospital when you 're unable to be transported by other means -LRB- e.g. car or a taxi -RRB- or your need medical care during transport . The ambulance must take you to the nearest medical facility -LRB- generally a hospital -RRB- that can provide you care . In some instances , you may be able to get covered ambulance transportation in a non-emergency situation if you meet certain conditions -LRB- e.g. your doctor deems its medically necessary , traveling to a medical facility by other means would put your health at risk - you may want to check with Medicare to get full specifics on what conditions are required to be covered in a non-emergency setting where transportation by ambulance is needed -RRB- .


Input: How Much Auto Insurance Should I Get?

Output: That depends in part on you , your car and your financial exposure . If you have a new or newer car that is financed or leased , the finance company will require that you have both Comprehensive and Collision coverage to protect it from physical loss or damage . State laws will require that you carry liability coverage , which protects your financial exposure should you cause an accident , but again , if the car is leased , the leasing company will require higher limits .


Input: How Much Auto Insurance Should I Get?

Output: Get as much as you can afford . If you injure someone or several someones , there is infinite possibility for damages . The more coverage you have the less likely you will be paying out of pocket . We recommend that our insureds get umbrella coverage above and beyond their auto liability .


Input: How Much Auto Insurance Should I Get?

Output: That really depends on you . How much are you worth is a good point to start?I typically recommend no less than 100/300 coverage to any prospect . Remember if you are involved in an accident ; the insurance company is only obligated to pay up to the limits that you carry if it is a covered loss . If theamount of damage surpases that limit then you are responsible for the rest . Contact your local agent they are best equiped to help you determine a coverage level that will work with your budget and coverage concerns .


Input: How Much Auto Insurance Should I Get?

Output: That is a great question ! The only problem is that only you can answer it ! This is always a tough one for an insurance agent to answer . Doing so can subject the agent to a potential E&O claim . When I have clients ask that question I respond by saying , `` How large is the claim or accident going to be ? '' I say this because there is no way of knowing what the future holds . My advice is always for them to purchase an amount that they are comfortable with and that they can afford . At the same time , I am happy to show them some data and scenarios of what some other claims have ended up being . There is also the factor of what the clients risk exposure is . If they have a pool or dogs in a populated residential area , they may have a greater exposure than the someone who lives in a rural setting . Again , it really comes down to what the client is comfortable with after sitting down with their agent to determine their risk exposures .


Input: Does SR22 Insurance Cover Rental Cars?

Output: SR-22 is not insurance . It is a financial responsibility document that is typically required by the DMV . What happens when you have an SR-22 is that the insurance carrier files documentation with the DMV about your auto insurance coverage . This provides proof that you have auto insurance coverage and I believe notifies the DMV if that coverage is ended .


Input: Can 401K Be Split In Divorce?

Output: NO , 401 -LRB- k -RRB- can not be split into 2 separate 401 -LRB- k -RRB- accounts in a Divorce however , the courts can tell you that half of the funds need to be paid to your divorcing spouse . You can either withdraw the money , remember the tax implications , or find another way to get the money to the divorcing spouse . You may not have any choice . If you do liquidate , be sure to share the tax liability here . In other words , since the owner of the 401 -LRB- k -RRB- will get the tax bill , be sure to have in written form the liability will be split .


Input: What Happens When My Term Life Insurance Expires?

Output: When your term life insurance policy expires , your policy will end , or the premiums will jump up very high . You do not get any money back . At that point you will need to get a new policy , or else determine if you can get by without any life insurance .


Input: What Happens When My Term Life Insurance Expires?

Output: You get clobbered with a rate increase . I literally have seen increases of 10 times the original premium . Pretty scary , isnt it ? This means you should reevaluate your coverage now . If there is any possibility you will need it past the guarantee on the policy , get yourself a new one . Or , convert the current term into a permanent product with lifetime guarantees . Which way should you go ? Get yourself prequalified for a new policy from another carrier . Also get conversion quotes from your current carrier . Compare the two . May the best plan win !


Input: When Should I Sign Up For Medicare?

Output: Most people will enroll in Medicare when they turn age 65 . If you -LRB- or your spouse -RRB- have enough Social Security work credits you will be automatically enrolled in Medicare Part A and Part B about 3 months before your 65th birthday . If you are covered under an employer group health plan you may be able to delay your Part B enrollment without penalty .


Input: Who Should Have Annuities?

Output: Annuities are designed for long term accumulation of money . If you want to accumulate money over a long period of time , annuities are often an integral part of a portfolio with that objective . Although there are some annuities that cater to the shorter term market , the traditional annuities were designed for a long accumulation phase and a long disbursing phase .


Input: Who Should Have Annuities?

Output: Anyone who is looking for secure Retirement Savings could benefit from owning an Annuity . There are many types of annuities that can fit the needs of many different types of retirement savers . But Annuities are meant to be accessed during retirement , after age 59 1/2 . So they are only suitable for people saving for retirement and who do not need the funds prior to that age .


Input: What Are Annuities Paying Now?

Output: Tax deferred annuity rates are subject to change . Presently , at the posting of this response five year rates are around 2.75 % , 7 year rates around 3.20 % and ten year rates around 3.40 % . Again , rates can change , so make sure you quoted rate is the locked in rate .


Input: Is Esop A Retirement Plan?

Output: The IRS as well as the Department of Labor oversees ESOPs . The employee stock ownership plan was established under the IRC section 401 -LRB- a -RRB- qualified defined contribution plan as a stock bonus or money purchase plan as defined under IRC section 4975 -LRB- e -RRB- -LRB- 8 -RRB- to meet regulatory requirements . It is a great option for employees to purchase the business they work for from their retiring employer .


Input: Is Esop A Retirement Plan?

Output: An ESOP is a retirement plan , indeed , especially for the owner . AN ESOP is a very creative way for an owner to buy himself/herself out of the company , using borrowed money that the company has to pay back . And the payback is tax deductible . For the employees , the ESOP stands for Employee Stock Ownership Plan and the stock in an ESOP is qualified money , meaning it grows tax deferred and is tax upon liquidation . WHen an employee leaves the company , he/she can roll over the ESOP money into an individual IRA


Input: Can I Buy A Life Insurance Policy On Anyone?

Output: You have to have financial insurable interest to be the beneficiary of the insured , whether family member , business associate or charitable donor . What financial loss with you experience at the demise of the insured ? What future economic liabilities are you exposed to at the death of the policy insured ? You also have to justify the amount of life insurance as well . The must be an economic tie to create insurance interest and justify the amount .


Input: Can I Buy A Life Insurance Policy On Anyone?

Output: That is a great question ! And the answer is no , you may not . The reason is based way back when life insurance policies first became popular . People would take out policies on other people and gamble on when that person would pass away . Often , these people had no idea that policies were taken out on them , or that their lives were about to be shortened . So policies were put in place to eliminate that practice . To insure someone now , you have to be able to show that you would suffer a loss , if the insured were to pass away . You ca n't demonstrate that loss on a stranger . Thanks for asking !


Input: Can Life Insurance Be An Investment?

Output: Nope . Life insurance can not be an investment . Think about this question for a second . What is the most essential element in an investment ? It is time . Some investments need time to mature . Other investments need time to increase in value . Example : if you are invested in the stock market , and your investment decreases in value , what should you do ? Should you sell ? Of course not . You would sustain the loss only if you redeem the shares at a lower price than when you bought them . What you should do is let them ride , and if properly managed , they should recoup their value , and then some . Over time . If you die , then you could pass this investment on to a family member , and that person could continue to manage the fund . It could continue to grow in value . Over time , during his or her lifetime . Does life insurance buy you this kind of time ? Absolutely not . The product is designed in just the opposite way . It assumes you will run out of time tomorrow . You get the biggest bang for the buck when a death benefit is paid immediately . Somebody could conceivably buy a policy today , pay one monthly premium , and then die . The beneficiary would receive the entire survivor benefit . Would you call something an investment if it required no time to realize value ? Nope . Or that is guaranteed to pay out , for that matter ? Lets talk about that guarantee for a second . Of all the forms of insurance you might buy , the only one you know for sure will pay a benefit is life insurance . This is because you know for sure you are going to die . You could buy medical insurance , but never get sick . You could buy disability insurance , but never get hurt . You could buy auto insurance , but never have a car accident . You could buy professional liability insurance , but never get sued . You could buy home insurance , but never have a fire . And on and on . However , if you hold on to that life insurance policy , you know your survivors will get paid . For sure . So , life insurance is a uniquely wonderful risk management tool that requires no time at all to realize value , and is absolutely guaranteed . With these characteristics , it meets nobodys definition of an investment . Now : I am sure you know that certain life insurance products can produce cash value . Whole life , universal life . Even term can carry a return of premium feature . But these funds are not to be considered investments . They should be seen as added value . As ways to partially offset your cost . As an extra benefit . They make the purchase of a policy extra attractive . But you should never assume that they will have time to grow . They will disappear as soon as a claim is filed and a benefit paid . And that could be tomorrow .


Input: Can Life Insurance Be An Investment?

Output: That is a great question ! The simple answer is yes , it can be considered an investment in peace of mind , in your family 's security , and in your future . Agents are warned to not use the word `` investment '' when discussing life insurance with you , because of the possibility of leading you to believe that a policy will pay more than the face value that it promises to pay . There are some policies out there that can grow a large cash value , but even those can eventually end up eating that cash value and ending up leaving you with what it promised . A life insurance policy is not designed to make money like the market or bonds would . But it is an essential part of your financial planning , and for your estate planning . If you would like more detail , please contact me , and we 'll discuss your question further . Thanks for asking !


Input: Can Life Insurance Be An Investment?

Output: Yes several types of cash value life insurance can be an excellent part of your investment portfolio . Definitely look into the fixed index universal life policies . These policies give you part of the stock market gains by allowing you to pick certain indexes but protect the policy from losing any money when the market drops . The main attraction of having a cash value life insurance plan in your portfolio is being able to draw your retirement funds tax free .


Input: How Much Is Motorcycle Insurance For A Harley Davidson?

Output: When developing rates for Motorcycle Insurance , an insurance professional will need to have a more complete package of information . Certainly the make and model of a bike may have an effect , but so will the year it was built , where it is garages , the types and amount of insurance protection being requiested and other factors including the age and driving record of the biker .


Input: How Are Annuities Guaranteed?

Output: The guarantees of an annuity are based on the faith and credit of the company issuing the annuity . Life insurance companies are writers of annuities . The life insurance company that is admitted in your state is supervised by your state insurance commissioner and the state insurance commissioner where the company is domiciled . States have provisions to protect policyholder , should a company show signs of weakness .


Input: How Are Annuities Guaranteed?

Output: Tax deferred annuities have three crediting methods , two of which have guaranteed minimum crediting provisions . The annuity company can define those provisional guarantees because it owns and controls it 's portfolio in their general account . But in reality , an annuity contract is only as good as the financial stability of the company offering the annuity contract . Financial strength matters , so highly rated companies are preferred .


Input: Does 401K Earn Interest?

Output: The answer depends on your plan at your company . Most 401K plans offer investment choices that are ETFs , Mutual Funds , self directed investments and company stock . But unless they offer you a Guaranteed Interest Account , they do not offer straight interest without risk of loss of principal . You can however put your money in one of the bond funds which might provide more security , but all investment has risk .


Input: Does Bill Gates Have Life Insurance?

Output: That is a personal question for Bill Gates . Even if I knew the answer , due to privacy laws I would not be able to tell you . I would say with extreme confidence though that everyone should have life insurance coverage . It is the one type of insurance that if you keep it long enough that will payout 100 % of the time -LRB- pending exclusions or restrictions listed within the policy -RRB- .


Input: Does PIP Cover Auto Insurance?

Output: PIP is mandatory in some states . PIP stands for Personal Injury Protection and it covers you and or a passenger . You can select full PIP coverage or limited PIP coverage which would just cover a passenger . Most companies offer limits of $ 2,500 or $ 5,000 . States with mandatory PIP coverage Delaware Florida WEBSITELINK Hawaii Kansas Kentucky Maryland -LRB- unless a waiver is signed at initial purchase of the policy -RRB- Massachusetts Michigan Minnesota New Jersey New York North Dakota Oregon Pennsylvania Texas -LRB- unless a waiver is signed at initial purchase of the policy also known as the exclusion agreement -RRB- Utah Washington -LRB- unless a waiver is signed at initial purchase of the policy -RRB-


Input: Why Should Renters Purchase Their Own Insurance?

Output: It is a vey good idea for a renter to purchase their own Renter 's Insurance policy in order to protect their belongings in the event of a loss . Your landlord will provide no coverage for you if for example someone breaks in and takes your hard earned items from your home or a fire destroys your apartment or the building . Only a Renters ' Insurance policy provides such protection .


Input: How Long Do I Have To Get Insurance On A New Car In Arizona?

Output: You need to have insurance by the time you drive off the lot . If you 're replacing or adding a car on your policy , you usually have 30 days to alert your company to the change . Of course , it 's better to get it done sooner . If anything happens , you want your company to be aware of current circumstances so they can process things more expeditiously . Please reach out to us at www.insuranceeddie.com with any questions .


Input: How Much Is The Penalty For No Health Insurance?

Output: The penalty tax for individuals starts out at the greater of $ 95 per year or 1 % of your AGI -LRB- adusted gross income -RRB- . The penalty tax for companies is more complex and higher . Each year the fine increases , but that is nominal compared to having to pay out of pocket for a large claim without the benefit of health insurance .


Input: How Much Is The Penalty For No Health Insurance?

Output: Under the affordable care act , everyone will have to have health insurance or pay a penalty -LRB- also known as an `` individual shared responsibility payment '' -RRB- . If you choose to pay the penalty instead of securing coverage , you will still be responsible for 100 % of your medical care . The penalty is calculated in one of two ways -LRB- you pay whichever is the higher amount -RRB- . In 2014 , the penalties will be calculated as : 1 -RRB- 1 % of your yearly household income featuring a maximum penalty as the national average yearly premium for a bronze plan . 2 -RRB- $ 95 per person for the year -LRB- If under age 18 , then $ 47.50 -RRB- featuring a maximum penalty per family of $ 285 under this method . The penalty calculations will change each year . In 2015 , method one increases to 2 % of your yearly household income and method two increases to $ 325 per person . In 2016 , it will increase again to 2.5 % for method one and $ 695 per person for method two . The penalty methods will be adjusted for inflation in later years . I hope the information is helpful - please feel free to contact me for help with your coverage or if you have any other questions . Thanks very much .


Input: What Are The Advantages And Disadvantages Of Universal Life Insurance?

Output: That is a great question ! I will start off my answer with the full disclosure that I am not a fan of , nor do I recommend , UL policies . Here 's why : While they do provide an opportunity to earn a substantial death benefit , and offer flexible premiums , those `` advantages '' are often not really advantages . These policies transfer much of the risk from the insurance company to you -LRB- unlike term or whole life policies that have solid guarantees -RRB- , and require that you are aware , and managing the policies performance . These policies are a mix of whole life and term policies , and are typically only guaranteed for a certain number of years -LRB- 20 , usually -RRB- though they can end sooner , or later than that , depending upon the policies investment performance and what you 've paid in premiums . When it comes to protecting my clients ' money and future , I prefer to suggest policies that are guaranteed , and therefore safer . A UL policy may be right for you , or it may be a bit riskier than you would prefer . There are many policies out there , and some have started offering limited guarantees , so please talk with your agent about whatever concerns you may have . And a last bit of advice ? Ask them to show you real numbers on the policies returns , and not the projected estimates in the illustration . I hope that helps , thanks for asking !


Input: What Are The Advantages And Disadvantages Of Universal Life Insurance?

Output: Life insurance is all about mathematics . There are differences between policies ; however , the underlying numbers are the same . A given number of people at a given age will die in a given year . A whole life policy uses the general fund of the company to guarantee its benefits . If you want a more flexible approach you can buy universal life which develops its cash values in a separate fund . The company does not guarantee the results of that fund .


Input: What Are The Advantages And Disadvantages Of Universal Life Insurance?

Output: I also recommend guarantees in policies , and therefore , at times , recommend universal life with no lapse guarantees . The advantages to guaranteed no lapse UL policies are : 1 -RRB- There is little to no cash value , so the premium is often lower than policies that endow . 2 -RRB- Universal Life is flexible , allowing you to increase or decrease the premium , dump in cash , or reduce the face amount , at will . 3 -RRB- You can adjust the no lapse period on some universal life policies , making them almost like guaranteed term , but with more flexibility . Disadvantages : 1 -RRB- Customers can be misled about , or misunderstand , the type of universal life policy they are purchasing , and end up with shorter coverage and/or lower cash values than they expected . 2 -RRB- For those who want a simple and straightforward policy , UL may be too complicated . Again , if you get the kind with built in guarantees , it greatly simplifies your experience because you simply pay the premium stated .


Input: Does Medicare Offer A Prescription Plan?

Output: The Federal program known as Medicare does not have comprehensive prescription coverage . Medicare Part A covers hospitalization and Medicare Part B covers doctors visits . Medicare Part D is the prescription drug coverage and Medicare Part C is a plan that combines Parts A & B -LRB- and often D -RRB- into one plan . Both Parts C & D are run by private insurance companies which contract with the Federal government to offer these plans .


Input: Is It Mandatory To Have Car Insurance In Every state?

Output: The answer her is not exactly 100 % but for all practical purposes it is . There are some provision in some states that allow you to post a bond which insures that you will in fact be able respond to any accident you cause.Over the last several decades we have seen an increase in the cost of fixing people -LRB- bodily injury -RRB- and fixing cars . So while this is technically a means other than insurance it would exist as an option for handfuls of individuals . Try to think of insurance as protecting you in two important ways 1 -RRB- it is going to help bring persons you injure back to some measure of their former lives if it all possible -LRB- obviously you can not undo a fatality -RRB- . -LRB- 2 -RRB- But insurance also protects you form people who for whatever reason do not have insurance or not enough to deal with your damages .


Input: Can I Withdraw From My Retirement Plan?

Output: Assuming you 're addressing a qualified plan , withdrawals will be taxable at ordinary income tax rates and a 10 % penalty if the withdrawals occur before 59 1/2 . You may want to consider borrowing from your plan . There will be an interest charge and the loans have to be paid back , but the interest charge is generally less than the taxes and penalties .


Input: How To Plan Your Retirement In Your 30S?

Output: When you 're in your 30s , retirement is the last thing on your mind . But it really should be the first financial commitment you make , which is `` pay yourself first . '' If you 're employer sponsors a 401 -LRB- k -RRB- plan and especially if it offers a contribution match , you should participate . If there 's no plan offered consider an IRA or Roth IRA depending on your tax bracket .


Input: Why Does Disability Insurance Never Pay 100% Of Your Income?

Output: Disability Insurance never pays 100 % of someone 's income as a disincentive to just keep drawing the disability benefit and never returning to work . By having a limited disability income benefit , the insured person may be inspired to strive to go back to his/her old job and previous , 100 % wage .


Input: Why Does Disability Insurance Never Pay 100% Of Your Income?

Output: Disability insurance is paid out on a tax free basis , for that reason it will pay you the `` net '' amount of your income that you are wishing to replace . Typically it is around 60 % to 70 % of your `` gross '' pay . Different companies will allow percentages between those amounts . Also you will not be needing commuting costs or other costs related to working .


Input: Why Does Disability Insurance Never Pay 100% Of Your Income?

Output: The purpose of insurance is not to get ahead , but to compensate for what was lost . Therefore , insurance companies put limits on benefits so that people do not use insurance to come out better than they would have if they had not had the misfortune that caused them to collect on their policies . In the case of a permanent disability , it is hard to imagine any benefit high enough to compensate for that loss . But there are those who would recover fully , yet never return to work if they could continue to receive their full salary without having to labor for it . The latter is the type of activity insurance companies try to discourage by putting limits on the benefit . It is not just so their companies can make money , although I 'm not saying that does n't enter in . It is also so premiums can stay lower and the companies stay solvent for the benefit of all their policy holders .


Input: Why Does Disability Insurance Never Pay 100% Of Your Income?

Output: Why does disability insurance not pay 100 % of your income ? Well , in a way it does . Disability insurance is designed to replace your after tax income . Depending on how you funded your disability insurance and accounted for it tax wise , the benefit can come to you as non income . There is also a way to actually have more than 100 % of your income protected . You can buy your individual coverage before being covered by a group plan . The two can combine to leave you with more than 100 % income .


Input: Why Does Disability Insurance Never Pay 100% Of Your Income?

Output: Insurance companies deal with risk . Moral risk is a problem that they also confront . If there isnt an incentive to return to work , the company could be paying benefits for an extended period of time . A drop in income during a disability is offset by lower taxes , lower expenses and a less vigorous lifestyle . Many find that their disability income pays a reasonable amount ; however , they are usually eager to return to work .


Input: How Long Does It Take To Get Life Insurance Money After A Death?

Output: Some companies pay out the death claim within weeks , while with other companies it can take a couple of months . When you fill out the death claim form , be careful to fill in all the required information so that it will not be held up in processing . Also , ordering a certified death certificate ASAP will also help the life insurance money be paid out more quickly .


Input: How Long Does It Take To Get Life Insurance Money After A Death?

Output: Generally , when a policy insured dies , the policy beneficiaries -LRB- sometimes the policy owner -RRB- contact the life insurance company and receive the carriers death claim form . That form is filled out and returned with the certificate of death and the newspaper obituary . It can take between 30 and 60 days to receive the policy proceeds .


Input: Why Is Critical Illness Insurance Needed?

Output: Critical illness insurance is needed if you are living paycheck to paycheck and have little or nothing in savings . Most major medical policies will cover routine care for cancer but you have deductibles , copay 's and coinsurance that can create several thousand dollars in out of pocket costs . Also you are likely to miss several days , weeks or even months without a paycheck if you are a wage earner .


Input: Why Is Critical Illness Insurance Needed?

Output: Critical illness insurance is vital to helping anyone that is struck with an unexpected critical illness to maintain their current lifestyle . The lump sum payouts directly to the insured afford the sick to be able to use the money to pay car notes , mortgages , household bills and other unexpected costs associated with the illness . Most critical illness ' will leave you out of work and hurt or remove your ability to earn an income . In addition , the money can be used to cover out of pocket expenses your health insurance plan does n't cover . Critical illness insurance is an inexpensive way to hedge against the unforeseen . Find personalized quotes at : WEBSITELINK


Input: Why Is Critical Illness Insurance Needed?

Output: Critical Illness Insurance is needed by those who have a high risk of developing a serious , life threatening illness . And it is needed by those who do not have money laid aside to tide them over and pay the additional expenses incurred if such an illness would strike them . The risk can come from heredity , smoking , obesity , or medical indications such as blood tests . However , even those for whom no risk factors seem to exist can find themselves stricken by cancer or other life threatening illnesses . Critical illness insurance provides funds in a lump sum to help people cope with that very trying time in their lives .


Input: What Does It Mean When Your Health Insurance Has A Deductible?

Output: A health insurance deductible is the portion you must pay before the health insurance carrier pays their part . If you have a plan with a $ 1000 major medical deductible , you must pay the first $ 1000 of eligible claims under the major medical portion before the carrier pays . In many cases the carrier pays 80 % of the claims above the deductible and you pay the remaining 20 % .


Input: What Does It Mean When Your Health Insurance Has A Deductible?

Output: A deductible is the amount you must pay before your benefits `` kick in '' and begin paying -LRB- for most services - some benefits , such as preventive care , provide coverage immedicately -RRB- . The deductible amount varies by plan . For example , under the new Affordable Care Act , a catastrophic plan may feature a $ 6,350 deductible , a bronze plan may feature a $ 5,000 deductible , a silver plan may feature a $ 3,000 deductible , a gold plan may feature a $ 2,000 deductible , and a platinum plan may feature a $ 0 deductible . These figures are not the same for all plans on each metal level .


Input: Can I Get Long Term Care Insurance?

Output: Your health and the ability to pay the premium are two issues to overcome before buying long term care insurance . Your personal information will be underwritten generating an offer or declination from the insurance company . Your gender , age , smoking status , health history and current health condition all contribute to your offer . After the insurance company 's offer , you 'll need to assess if the premium is affordable or not .


Input: How Old Can You Be To Get Medicare?

Output: You need to be age 65 to get Medicare , with some exceptions . You can get it at a young age if you have been on Social Security Disability for at least 24 months , have end stage renal disease , have Lou Gherig 's Disease , or some other situations -LRB- within Medicare eligibility guidelines -RRB- . There is no maximum age at which your Medicare coverage ends .


Input: If I Die Who Gets My Life Insurance?

Output: If you pass , the death benefit for your life insurance will got to the Primary Beneficiary or beneficiaries that you set up when you purchased the policy . If you made a change to the beneficiaries at some point after purchase , the proceed will go to the updated beneficiary , not the original one -LRB- s -RRB- . If all your Primary Beneficiaries are deceased , the policy 's death benefit will go to the person or persons designated as Contingent Beneficiary .


Input: If I Die Who Gets My Life Insurance?

Output: Your beneficiary gets the death benefit . Make sure you choose a beneficiary who can and will execute any plan you may have for the funds . Maybe if you have children you want some of the money to go to their college cost or maybe payoff your home . I think you should go a step further and do an estate planning plan . Or maybe a trust of some sort to dictate how the money is spent


Input: If I Die Who Gets My Life Insurance?

Output: When the designated insured of a life insurance policy dies , the proceeds , generally tax free , go to the policy beneficiaries providing there are no policy collateral assignments in place at the time of the of the insured . There may be multiple beneficiaries on a policy and may also have differing percentages of the death claim .


Input: If I Die Who Gets My Life Insurance?

Output: The idea is that someone that you love and name in the policy will get the proceeds of your life policy . Life insurance is a legal contract . The company is obliged to pay your beneficiary the proceeds . If your beneficiary is no longer alive , then your contingent beneficiary will receive the proceeds . If there isnt a designated beneficiary that survives you , the probate court will decide .


Input: If I Die Who Gets My Life Insurance?

Output: When you purchase your life insurance policy , you have an opportunity to name a Primary Beneficiary . This is the person who , should you die while th policy is in force , will receive the proceeds of that policy . You also have an opportunity to name a Contingent Beneficiary , to whom the proceeds would be distributed if for some reason , your Primary Beneficiary has also died or can not for some reason receive the money .


Input: If I Die Who Gets My Life Insurance?

Output: If you are the insured person on your life insurance policy , the death benefit will be paid to your beneficiary or beneficiaries that you had designated on your policy . If you are the owner of the life insurance policy , with the insured person being someone else , the policy would go to whoever you had set up as the contingent owner , if you would pass away . If there is no contingent owner , the insured person might become the owner .


Input: If I Die Who Gets My Life Insurance?

Output: If you have named a beneficiary the proceeds from your life insurance will go to them . If you have named a contingent beneficiary , and the primary has also passed , the life insurance goes to that person or persons . IF both the primary beneficiary and the secondary -LRB- or contingent -RRB- beneficiary have passed . The proceeds would become part of your estate and subject to probate at that point .


Input: If I Die Who Gets My Life Insurance?

Output: Real simple ; either the persons or entities you designate before you death or the estate created by your death in which your insurance proceeds will be placed and a judge will decide . Its better if you decide how you want your assets divided while you can still chose instead of leaving it to others to decide .


Input: If I Die Who Gets My Life Insurance?

Output: The person or entity -LRB- charity or business -RRB- that would receive your death benefit if you were to die is called your beneficiary . Your life insurance would go to your primary beneficiary first . If you were to die along with your primary beneficiary , the death benefit would go to your contingent beneficiary . Beneficiary designation is very important . Experienced agents will perform regular beneficiary audits to make sure that in the event a client dies , their death benefit goes where the client whished it to go .


Input: Who Can Drive Under My Car Insurance?

Output: Typically any licensed driver can operate your vehicle and be protected by your insurance policy , as coverage is vehicle primary . However , some policies have reduced coverage for permissive use , sometimes to the state minimum levels of liability . Make sure you read your policy and/or talk to your agent about your specific coverage and state regulations .


Input: Who Can Drive Under My Car Insurance?

Output: Based on my education and experience thus far in the insurance industry . The only people that would be directly covered under your auto insurance policy would be those persons that you have listed as drivers under your policy . Now if you allow someone to drive your vehicle that does not have insurance and they are involved in an accident that they are deemed responsible for your insurance may end up paying the claim which may in turn cause your rates to increase at renewal .


Input: Who Can Drive Under My Car Insurance?

Output: I caution anybody to not just assume anybody can drive your car . Most polices have permissive use , but keep in mind , the owner of the car and his insurance company are responsible if there is a loss as insurance follows the vehicle . Also your limits may be reduced to state minimums meaning if the accident exceeds the coverage amounts , the owner , although they were not in the accident can be held liable since the owner loaned the car out . Another thing to consider , permissive use in most cases does not apply to household members who do not have their own car and insurance . All household members who have access to the vehicle are required to be listed or excluded . There has been a great abuse of this by people who do not want to list children or relatives to avoid potentially higher premiums which have resulted in severe consequences when a claim arises And yet another thing to consider is there are carriers who do not have permissive use on their policy at all . If the carrier is unaware of the individual who is operating the vehicle there is no coverage on the owners policy . Always talk to your agent about how your particular policy works and the potential ramifications of loaning out your vehicle .


Input: What Is No Exam Life Insurance?

Output: No Exam Life Insurance is life insurance that does not require a medical exam . Some people would rather skip taking an exam , even if it would cost s little more than applying for a policy that requires one . Sometimes , No Exam Life Insurance is all the person can get , due to health concerns . Some No Exam policies are priced very competitively , especially for those who might otherwise be rated Standard with a policy requiring an exam .


Input: What Is No Exam Life Insurance?

Output: No exam life insurance is known as `` Simplified Issue '' life insurance . This means the insurance carrier will not require you to take a live medical exam . These plans are underwritten and they can order medical records . Do not confuse `` Simplified Issue '' with `` Guaranteed Issue '' plans . You can still be declined if there are serious health concerns . SI plans are usually faster to issue but cost a bit more than standard underwritten plans .


Input: How To Purchase Insurance For A New Car?

Output: Actually , it 's quite easy , assuming you have a valid driver 's license and are in good standing with your State DMV . Allow an experienced broker and their website shop for you . We save you time , money and frustration , and find you the most affordable options . Need a low down-payment ? That 's part of the shopping process !


Input: How To Purchase Insurance For A New Car?

Output: The time to shop for insurance is before you visit the dealer . Contact your agent and ask for a quote . Armed with that information you have a vital piece before you start negotiating fora particular vehicle . When you decide on which vehicle you want first it is possible that you might select a vehicle that is significantly more expensive to insure .


Input: Is Whole Life Insurance Worth It?

Output: In all consumer condor , purchasing participating whole life for permanent coverage is too expensive when compared to the less expensive guaranteed universal life . That being said , participating whole life may be an excellent alternative for long term savers looking for future tax advantaged retirement income . The policy can be enhanced with a term and PUA rider to maximize cash values .


Input: What Is Face Value Of Life Insurance Mean?

Output: The face value of a life insurance policy is the amount of insurance that is purchased . The death benefit is the amount of money that is paid to the beneficiary upon death . For Term life insurance , only the face value is paid out upon death , because Term life insurance does not build up any cash value . Policies that can build up cash value , like Whole Life insurance or some Universal Life insurance , will pay the beneficiary the face value -LRB- original amount for which the policy was taken out -RRB- plus whatever cash value has built up in the policy and not been depleted through loans , to make policy payments , etc. .


Input: What Is Face Value Of Life Insurance Mean?

Output: The face value of a life insurance policy is the amount of money that is paid to the beneficiary upon death , also called the death benefit . For Term life insurance , only the face value is paid out upon death , because Term life insurance does not build up any cash value . Policies that can build up cash value , like Whole Life insurance or some Universal Life insurance , will pay the beneficiary the face value -LRB- original amount for which the policy was taken out -RRB- plus whatever cash value has built up in the policy and not been depleted through loans , to make policy payments , etc. .


Input: How To File A Renters Insurance Claim With State Farm?

Output: Great question ! The first thing to do is contact your agent . The agent will give you a claims form , and if needed , inspect or arrange to have inspected , the damage . If your claim is for theft , be sure to have a copy of any police reports or other documentation available for him/her . It 's a simple process , and hopefully will go well for you . Thanks for asking !


Input: What Is Voluntary Disability Insurance?

Output: Voluntary Disability Insurance is Disability Insurance that employees can buy to supplement what their employer offers , or to obtain Disability Insurance in the absence of employer provided plans . Voluntary Disability Insurance usually covers disability that is incurred at the job site , or disability that is incurred at locations and for causes not related to work .


Input: How Much Extra Is Business Car Insurance?

Output: This depends upon what you mean by `` Business Car Insurance . '' If you are asking about insuring an automobile with a business auto policy , those are typically more expensive than a personal auto policy . If you are asking about insuring a company car , then that should be handled by the business providing you the automobile . The company should look into endorsements covering other drivers , in case your family members living in the house use your company car . If you are asking how much it costs to insure a company car on your personal auto policy this is not really an option because you do not have a valid insurable interest in the car . What I mean by this is the company owns the car and is getting a benefit from letting you use it , so your only interest is not paying for a car , which is not an insurable interest on your part . I hope this helps !


Input: How Much Does Health Insurance Cost For Two?

Output: In order to obtain a health insurance quote , you will need to give the date of birth , height , weight , and your name and address to the agent of your choice . You can minimize the time it takes to get a quote by understanding the types of policies available , medical savings account-savers-copays you desire - and tell the agent what you are looking for so they can narrow your choices . Until 1/1/2014 there will be underwriting questions so if you have `` pre-exisating conditions '' you need to mae sure the agent knows you want a policy that is governed by the insurance rules beginning 1/1/2014 . If you smoke the premium is higher for both periods


Input: How Much Is Army Life Insurance?

Output: Army Life Insurance -LRB- SGLI -RRB- currently costs 6.5 cents per thousand dollars of coverage . It has been at this rate since July 1 , 2008 . On July 1 , 2014 , the cost will go up to 7 cents per thousand dollars of coverage . Eligible servicemembers get the first $ 400,000 for free .


Input: What Is A 10 Year Life Insurance Policy?

Output: A ten year life insurance policy is a term policy for which the premium will stay the same for ten years . At the end of the ten years , the premium will increase a lot , or the policy will end . Most people choose to apply for a new policy when their ten year policy ends , but not all people can qualify for a new policy at an affordable price due to health conditions or due to being older .


Input: What Is A 10 Year Life Insurance Policy?

Output: A 10 year life insurance policy means you have a policy providing you with 10 years of coverage , a death benefit . In most cases the premium is guaranteed for the initial 10 years . After 10 years , the policy may revert to an annual renewable meaning the premium is not guaranteed . Please so your homework before purchasing a 10 year life insurance policy . I run into people all the time who have a 10 year where they are near the end of the term and need more or longer coverage . Look at a longer term , up to 30 years and lock in your premium for that term . ; It all comes down to what you are trying to accomplish . If your goal is for only 10 years or less , then this policy maybe perfect for your needs .


Input: Where Does The Money From Life Insurance Come From?

Output: Life insurance companies have large reserves to pay claims . They are regulated by multiple departments of insurance in states they do business in . By these regulations they are very conservative investors meaning the do n't take a lot of risk with this reserve money . The life insurance industry is a huge industry . According to LIMRA there is $ 18.4 Trillion of life insurance in force in the United States alone . The other little secret is about 1 % of term life insurance pay out claims . Therefore it is a very profitable industry but also a very needed industry . It is a shame that 99 % of term policies are cancelled before they are needed .


Input: What Is The Normal Grace Period For A Life Insurance Policy?

Output: The normal grace period is 30 calendar days , sometimes 31 calendar days . Its important not to flirt with floating your premium payments to the grace period limits . If youre cash poor for the month , the life insurance company may allow you to use credit card payments to continue coverage .


Input: When Was Indemnity Health Insurance Created?

Output: Indemnity Health Insurance is one of the oldest types of coverage and was created long before HMO and PPO began to muddy the waters . This is one of those `` insurances '' you better understand what you are buying and compare the `` premiums '' to the benefit of your having the discipline to take those same dollars down to the bank and save the money rather than paying some insurance company for little or nothing . You need to understand how long it is before the insurance company will start paying the benefits even if you have a claim . You better understand in order to collect anything on these policies you must be `` hospitalized '' and then the benefit days are very limited . Millions are poured into these policies every year by gullible individuals that do not even understand what they bought


Input: Why Homeowners Insurance Goes Up?

Output: Many homeowners policies have a provision that adjusts the amount of coverage each year to reflect the increases in cost of construction . This will add about 3 % to the premium each year . Your home ages by one year every year . Many companies have a factor tied to the age of the home which increases the premium slightly . If the company has paid a claim on the policy there may be an increased based upon an experience factor . Occasionally the fire rating for a certain geographical area will change which also affects the premium . The company could experience losses in excess to the total premiums in which case they can file an overall rate change with the state insurance commissioner .


Input: Why Homeowners Insurance Goes Up?

Output: The thing to kssp in mind with regard to virtually any type of insurance is that the premium charged by the insuring company reflects the risk they are insuring . If your Homeowners ' premium has gone up and you have not filed a claim , more than likely it is because your policy , like most , has a form of `` inflation guard '' built in . That is , each year , the amonut of coverage on the dwelling itself will increase by a certain percentage -LRB- in CT usually about 4 % -RRB- . The increase in coverage will result in an increase in premium . If you have suffered a loss and filed a claim , it is also possible that you are being charged a loss cost or as a result of the claim , have lost a claim free discount that you previously enjoyed . Talk to your insurance professional about increasing your deductible and also about taking advantage of any discounts that are available .


Input: Why Homeowners Insurance Goes Up?

Output: Great question ! There are a couple of reasons why your policy costs have gone up . The policy you have may have a clause that allows for an adjustment for price each year to match inflation , or rising home values . You may have filed a claim , or cancelled another policy that you had with that company that had allowed a discount , that is now no longer applied . If you live in an area where fires or natural disasters have just occurred , the company may be seeking to recapture lost profits from paid claims . Thanks for asking !


Input: Why Homeowners Insurance Goes Up?

Output: It 's a common question we get in our office . There 's several reasons for your homeowners insurance rates going up . Many insurance policies have an inflation guard built in to the policy . Every year the dwelling amount will increase by a certain percentage . The idea of the inflation guard endorsement is to keep up with the cost of construction . The challenge is that this endorsement can have a compounding affect over the years . Another reason your rates would go up is if the insurance company had a rate increase . This happens frequently in NY . If you see your rates going up by more than 5-10 % per year I would contact your local independent agent and ask the reason for the increase and suggest they search the market for a better premium . Hope this answer helps .


Input: How Much Is Renters Insurance With Farmers?

Output: It will depend on a number of factors , including where in the US you live , what type of rental -LRB- home , condo , apartment building -RRB- , and how much coverage you are looking for . I would recommend going to WEBSITELINK and finding a local Farmers Insurance agent , who will be able to answer question for you specifically .


Input: How Long Do I Need Long Term Care Insurance?

Output: Long term care needs will more than likely increase do to the increase in human longevity . As we live longer the odds increase that we will use assisted home health care and/or nursing home confinement . Purchasing a stand alone long term care policy generally buys you the maximum coverage offered by the insurance company .


Input: Where Should I Buy Home Insurance In Texas?

Output: You should buy home insurance from an agent who is licensed to sell home insurance in the state of Texas . You can speak to one or several agents . Agents who are willing to show you quotes from more than one carrier are likely able to ensure that you get the best deal on your home owner 's insurance .


Input: Does Medicare Pay For Hypnosis?

Output: As a general rule , Medicare does not cover hypnotherapy . If your doctor or therapist recommends hypnosis for weight loss or smoking cessation , the treatment is not covered . But in some cases Medicare can pay for hypnotherapy . If hypnosis is used in conjunction with treatment for PTSD or pain management it may be a covered expense .


Input: Does Medicare Pay For Hypnosis?

Output: Medicare can pay for hypnotherapy for a medical condition -LRB- such as intense and chronic pain -RRB- or a psychological condition -LRB- such as post traumatic stress disorder -RRB- that requires that type of treatment as a medical necessity . Normally , Medicare does not pay for hypnotherapy , even if prescribed as a method to help quit smoking .


Input: What Is The Medicare Benefits Schedule?

Output: The government provides Medicare Part A & B . If you want drug coverage and/or supplemental coverage to pay what Medicare does n't cover , you must buy that separately . A broker/agent can help you with that . The benefits schedule -LRB- literally -RRB- shows what is covered . If you would like to see what Part A & B cover , I suggest going to www.medicare.gov ... then click `` What Medicare Covers '' .


Input: Does A Single Woman Need Life Insurance?

Output: A single woman can need life insurance if she has bills that would need to be paid by someone if she passed away . She might want to spare her friends and relatives the stress of paying for her funeral , by having a life insurance ready to cover it . She may want to leave money to a charity or special loved ones . For all these purposes , life insurance works well .


Input: Will Medicare Cover Abdominoplasty?

Output: That is a great question !! Medicare will ONLY cover abdominoplasty if it is medically necessary . Generally speaking it is considered cosmetic and Medicare will not cover the procedure.As pre-certification is crucial , consult with your physician ordering this procedure to discuss/determine your specific situation as it relates to Medicare coverage .


Input: Will Medicare Cover Abdominoplasty?

Output: An abdominoplasty is typically not covered by Medicare or individual/group health insurance plans . It is generally considered cosmetic and thus , the consumer has to pay for the procedure . However , if it is considered `` medicallynecessary , '' and perhaps a life-threatening situation is involved , the results could be different . Discussing your specific situation with an experienced broker orcontactinga reputable website will providefurtherhelp .


Input: Is Employer Paid Group Term Life Insurance Taxable?

Output: If the amount of employer paid term life insurance is $ 50,000 or below , the value of the employer paid policyis not treated as taxable income to the employee . When the amounts of coverage exceed the $ 50,000 threshold then that excess amount will trigger a taxable income event for `` the economic value '' of policy above $ 50,000 . As policies of this level are commonly sold at the workplace , another consideration is whether your term life insurance was paid for on a pre-tax or after-tax basis under your group 's Section 125 Plan . Unlike with most other types of insurance premium , it is generally best for an employee to pay their term life premium -LRB- or any portion of it -RRB- on an `` after-tax '' basis . This can avoid taxes being taken out of the death benefit .


Input: Does USAA Renters Insurance Cover Hurricane Damage?

Output: USAA renter 's insurance coverage would be very typical of other plans . Generally , wind damage is one of the covered perils and you could safely claim your losses . However , flood damage is generally not covered under renter 's insurance . You need to purchase separate benefits for those types of claims . A broker would be able to offer flood insurance through the government agency that offers it .


Input: How To Get Health Insurance With A Pre Existing Condition?

Output: There is no more rule so to speak on pre-existing conditions . Everyone regardless of your current health issue , you will get coverage . The open enrollment period has ended and you can enroll into a plan in November . You may still qualify to enroll in a plan now if you have a life changing event during this special enrollment period -LRB- SEP -RRB- .


Input: How Does A Health Insurance Policy Work?

Output: Each carrier that offers health insurance has a plan which includes such things as ; 1 -RRB- Benefits - what they will and will not cover 2 -RRB- Deductible - what you will need to pay before the benefits kick in 3 -RRB- Co Insurance - what portion you will be responsible for outside of the benefits you receive from the insurer 4 -RRB- Cost - how much the policy will cost you on a monthly , quarterly or annual basis There are a lot of factors involved in choosing an insurance policy that is best for you and your family . Contact a Health Agent and discuss your needs , budget and what you want in a policy . You can also access online sites to put in your info and get a quote .


Input: How Does A Health Insurance Policy Work?

Output: The concept of how a health insurance policy works is fairly simple . First , of course , you buy the policy directly through an experienced broker or a reputable recognized website . Federal tax credits may help reduce your costs with Exchange plans . -LRB- Starting in 2014 , each state will set up an `` Exchange '' which will be one way to purchase coverage -RRB- You select benefits and the price . Once you are treated for a sickness , accident or ailment that is covered by your policy , the insurer pays the provider the stated or agreed amount of benefit . There are many different types of coverage , including comprehensive , catastrophic , HSA , short-term and student plans . An experienced broker or reputable website can provide detailed information including rates from multiple carriers .


Input: Can I Cash Out My Universal Life Insurance Policy?

Output: Maybe ! Universal life policies are curious things ... If it has any cash value you can surrender it and `` cash it out '' . Whether it has any cash value will depend on how long you 've had it and how well you 've funded it - that is how much you 've paid into it . If you 've had the policy for a long time and never increased the premium payments there may not be any cash value left . Request an in force illustration from the issuing company to find out what if any surrender value it has .


Input: Can I Cash Out My Universal Life Insurance Policy?

Output: Yes , if your Universal Life insurance policy has cash value , you can cash it out . You will get the cash value shown in the illustration , minus any fees and surrender charges . The net amount of cash value collected is called the surrender value . Universal Life is noted for its flexibility , so there may be more favorable choices available to you rather than cashing it out . E.g. . You may be able to reduce the face amount to lower your premium , and/or use the cash value to turn it into a policy for which no further premiums are needed . Contact your agent or the insurance company for advice . Or I would be happy to help .


Input: Can I Cash Out My Universal Life Insurance Policy?

Output: A universal life policy is designed to develop cash value . If your policy has cash value that will probably be noted in your annual report . Contact your agent or the company to determine the amount of cash value that is available . With a universal life you could suspend payments or reduce them and still maintain the death benefit . Get advice before you make your decision .