Input: What Is Own Specialty Disability Insurance?

Output: Own Specialty Disability Insurance is the feature of a Disability Insurance policy that enables a physician to receive the benefit if unable to perform the duties of their own specialty . E.g. . If a surgeon develops Parkinson 's Disease and is unable to control hand tremors enough to perform delicate surgery , they would collect on their DI policy even if they are still able to see patients in a clinic . It is similar to `` own occupation '' clause for persons who are not physicians .


Input: What Is A Split Dollar Life Insurance Policy?

Output: A `` split dollar '' life insurance plan is usually used in business planning and especially for `` estate planning '' . When `` split dollar '' was first introduced some tax advantages was claimed in that more than party is sharing in the benefits of the policy and the IRS has challenged the `` tax advantages '' and the future of this business planning strategy has been questionable for some time


Input: What Is A Split Dollar Life Insurance Policy?

Output: A split dollar life insurance policy is simply a regular life insurance policy , but the costs and benefits are split between more than one person . The most common arrangements are for an employer and employee , or parent and child , to own and pay for the split dollar life insurance policy .


Input: Can An LLC Own A Vehicle And Use Personal Auto Insurance?

Output: That is a great question ! You certainly could , but I do not think I would want to be in your shoes should you -LRB- God forbid -RRB- ever have to file a claim . The majority of insurers will differentiate a vehicle used for obvious business purposes -LRB- a vehicle filled with tools , having attached advertising , or damaged during the work activity will generally get them to consider the vehicle as being used commercially in most cases -RRB- versus private usage . That may not keep them from paying the claim , but it may allow them to contest it , or delay payment during an investigation of the claim . You may very well want to look into the alternative of purchasing a commercial coverage policy , especially if you will be transporting things of value in the vehicle that would be costly to replace -LRB- tools , files , computer equipment , etc. -RRB- . Your companies liability part of the policy will protect your family 's assets against a claim than your private insurance would also . I 'd ask you to get a commercial policy , and write it off as an expense . Thank you for asking !


Input: Can An LLC Own A Vehicle And Use Personal Auto Insurance?

Output: My colleagues have been right on the money with this one , I believe . If one has a reason to establish a separate legal entity like an LLC for purposes of added protection , then one has a reason to maintain that separation throughout all of their insurance plans . Many times I have seen a business set up as an LLC to use this example , with their General Liability established accordingly , but then break down that protection by registering the business - use vehicles in the name of an individual . That can lead to a serious breach in insurance protection . There are both legal and economic issues at stake that need to be addressed by professionals in those fields . Your INsurance Professional can and should be part of your advisory team and can provide the coverage you need .


Input: Can An LLC Own A Vehicle And Use Personal Auto Insurance?

Output: Typically no , however their are some companies that will write the LLC on a personal policy . First ask yourself why you would want a personal policy instead of a commercial policy when you are trying to separate liability . You can purchase commercial policies in various increments starting at $ 100,000 in coverage . This premium should be commensurate with a personal policy premium . Also , a commercial policy will allow for more drivers to be listed on the policy and provide coverage for all the members of the LLC . Ask your accountant why the LLC would want to own the vehicle ? Then get with your insurance agent to find the best coverage for you which will include a risk assessment on what you have to lose . Example , you have $ 200,000 worth of equipment in that van , where is the coverage for the destruction of that equipment ? Personal policies will look to your home or renters insurance , whereas a commercial policy can include coverage for transportation to and from the events . Personal policy maybe cheaper , but it may also not cover you for an accident .


Input: What Are The Car Insurance Minimums In New York?

Output: New York is a no-fault state and requires registered vehicles to have a minimum amount of car insurance liability coverage . The bodily injury per person/occurrence must be $ 25,000 / $ 50,000 per injury and $ 50,000 / $ 100,000 for death . An additional $ 10,000 is required for property damage that is caused as a result of the accident or occurrence . If the vehicle is garaged and/or not being driven , coverage must remain in effect . Also , you must be covered by a NY policy , not a contract that was issued in another state . An ID card will be provided to you from an insurance broker so you can register your vehicle . You can purchase affordable coverage from many carriers.Experienced brokers and our websites assist consumers find the lowest prices from the top-rated companies . Your rate quotes are always free .


Input: How To Set Up A Qualified Retirement Plan?

Output: First determine your retirement plan should be qualified or non-qualified . Are you a business owner or an individual ? Are you or your business in a high tax bracket ? How long do you think youll contribute to the plan and what amounts will you contribute ? Then you need to establish a personal financial profile that includes risk assessment , financial goals and a life expectancy report . After you have completed this list , you can determine which qualified plan to use .


Input: Does Medicare Cover Injuries In An Auto Accident?

Output: Yes . The nature of how an injury occurs is not going to determine whether or not your immediate treatment will be covered . As a rule of thumb , if treatment is deemed medically necessary , it will be covered by Medicare . If it 's an elective procedure , you may have to pay out-of-pocket . If you 're unsure whether a specific issue will be covered , you can contact the Medicare office and they can advise you accordingly . Medicare covers a vast number of different services , however , it only covers about 80 % of incurred expenses . If you do n't have one already , I would recommend adding a Medicare supplement plan -LRB- a.k.a. Medigap plan -RRB- to cover the all or a portion of the other 20 % . While 20 % may not seem like much , it can add up to large medical bills quickly . I hope the input is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Can Health Insurance Cover Rhinoplasty?

Output: Only if it is deemed a medical necessity , and even then the insurer may require a second opinion . Health insurance will not cover a noise job that is being preformed for cosmetic reasons alone . If the noise job were to correct a breathing problem such as a severely deviated septum that resulted in potentially serious complications such as sleep apnea then it would be a qualified medical expense . Also if the nose job was a reconstructive procedure following a serious accident that seriously damaged a individuals face then again yes .


Input: What Is Meant By Cash Value Of Life Insurance?

Output: The cash value of life insurance is the amount of equity built up in a Whole Life or Universal Life Plan . Whole Life is designed to equal out insurance costs over the average life span . You pay more than term in the early stages but much less as you get older . The excess premium in the early stages allows the insurance company to invest the funds . After expenses , cash value is accumulated in the policy according to a schedule found in the policy .


Input: How Much Exactly Is Term Life Insurance?

Output: The cost will depend upon several things - the company , the length of the term , the amount of coverage , your age , health , etc. . I 'd advise that you contact some local agents with some specific details , and shop around for some quotes . If you would like some help with this , please hit the ` contact me ' button , and I 'll happily help . Thanks for asking !


Input: How Much Exactly Is Term Life Insurance?

Output: Unfortunately there 's too many factors that go into premium pricing to give a definitive answer as to what a term plan costs . The risk class is the most critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends ona number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Keep in mind , every carrier has their own set of underwriting guidelines and mortality tables , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . Also affecting the premium for a policy is the type of policy you 're looking to secure - how much coverage do you want/need and for how long do you want/need it guaranteed for -LRB- term vs. permanent -RRB- . Non-medical policies generally cost more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you . Consult with an independent insurance agent/broker to see what plans are available and what structure would be best suitable to meet your needs . You can send me a private message by clicking on the `` contact me '' button if you would like quotes and assistance with your and your family 's life insurance needs .


Input: How Much Exactly Is Term Life Insurance?

Output: Difficult question to answer without more specific information . The cost per thousand of term life insurance varies greatly depending on your age , sex , health and other underwriting factors . The cost will also vary depending on what type of policy you choose . To get a basic idea you can get a quote from an online website . I would suggest you contact a local insurance broker to get some professional advice . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Who Can Drive My Car Under My Insurance?

Output: Auto insurance generally follows a vehicle , so guest drivers are usuallycovered . Your insurance company has the right to contest claims made by people who are excluded from your policy . If you permit someone to driveyour car regularly , he or she should be listed as an operator . It can be considered fraudulent if you share a car with someone on a regular basis without listing that person on the policy . Examples would be a young driver or someone with a DUI . Always read your policy document , and remember , if it is your car , you will be held liable if the damages exceed your insurance policy , so be careful before lending out your vehicle .


Input: Who Can Drive My Car Under My Insurance?

Output: That can vary depending upon the terms and condtions of your auto policy so it would be best for you to have this discussion with your insurance professional . However , in general , you as the named insured , and anyone who you designate to drive your car are covered under your policy .


Input: What Are Unit Linked Annuities?

Output: Annuities can be immediate or deferred , both have a place in retirement and financial planning . With an immediate annuity , you exchange a lump sum for an immediate income . Unit Linked Annuities are sometimes called variable annuities . With this type of annuity the income you receive varies totally or partially based on the performance of funds you have selected . A Deferred annuities can be thought of as an accumulation vehicle . The value of Unit linked annuities or variable annuities -LRB- called segregated funds in Canada -RRB- fluctuate based on the performance of the funds selected . If you have any further questions , please do n ot hesitate to contact me .


Input: Why Would A College Student Purchase Life Insurance?

Output: Many college students today are in a position of having to take out thousands of dollars in student loans in order to finance their educations . In many instances , parents are co-signers on these loans . In the event of the college student 's untimely death , parents might not only have to grieve the loss of their son or daughter , but also have to deal with repayment of the student 's debt . To me this , together with the cost of final expenses -LRB- funeral , unpaid medical bills , etc. -RRB- , is the most obvious reason to purchase life insurance coverage - so that in the event of death , your loved ones wo n't have to be burdened with raising the funds to repay the debt . Another reason to go ahead and buy life insurance is that in all likelihood , the cost of the insurance will never be lower . Life insurance is age-rated . Assuming that you are in good health , do n't smoke , etc. , a college student can buy term life insurance coverage very , very affordably - under $ 200 per year for $ 100,000 of coverage is common . You can even lock in that low premium for up to 30-years with many life insurers .


Input: Why Would A College Student Purchase Life Insurance?

Output: A college student would most likely purchase life insurance to pay off education loans in case of death , to prevent that burden from falling on the shoulders of someone else . Also , a college student might want to lock in a good rate while young and healthy , or start planning for a future of raising a family . The life insurance company will look at projected income for the occupation for which the student is being educated , and the amount of time left until the degree will be completed , to help in determining how much life insurance a college student can get .


Input: Does Medicare Have A Maximum Out Of Pocket?

Output: Medicare does not have a maximum out of pocket limit . The Medicare Part A hospital deductible is per admission -LRB- with some exceptions -RRB- . If you have multiple hospital admissions during the year you could be responsible for several deductibles . Medicare Part B has an annual deductible but your 20 % share after the deductible is unlimited . This is why so many buy a supplement policy to limit their out of pocket exposure .


Input: How Does Medicare Supplemental Insurance Work?

Output: Medicare Supplement plans are designed to supplement your Medicare . SinceMedicare , like most medical insurance policies , pay a portion -LRB- 80 % -RRB- ofyour medical costs . TheMedicare Supplement planwill pay additional expenses , up to 100 % , of your medical expenses . It is important that you are clear on your needs and budget in decided which plan is best for you .


Input: How Does Medicare Supplemental Insurance Work?

Output: Medicare Supplements help pay the deductibles and copay 's of Medicare . Depending on the plan you choose you could have nearly 100 % of you covered medical expenses covered . Medicare was never designed to pay all of your Medical costs . If you get sick you could end up with thousands of dollars in out of pocket costs with just one trip to the hospital A good Medicare Supplement is worth the investment if you can afford the premium . If not then look at a good Medicare Advantage Plan .


Input: How Does Medicare Supplemental Insurance Work?

Output: Medicare Advantage plans do indeed have lower premiums than most Medicare supplement plans , but that does not necessarily make them `` more affordable '' Medicare Advantage plans have a lot of moving parts . When you access most medical services you are required to satisfy a deductible , pay a copay , or both . People who use a lot of medical services -LRB- doctor , hospital , diagnostic , therapy , etc. -RRB- may find an Advantage plan to be quite expensive when you factor in your out of pocket costs , a Medicare Advantage plan can be considerably more expensive than a Medigap plan .


Input: What Kind Of Retirement Plan Should I Get?

Output: The first thing you should determine is your effective tax bracket . If your tax bracket is high you may want to consider a qualified plan like a 401 -LRB- k -RRB- , especially if your employer offers a contribution match . But if your effective tax bracket is small and you have no employer sponsored plan , then a non qualified retirement alternative that uses life insurance or annuities should be a consideration .


Input: What Is A State Approved Voluntary Plan For Disability Insurance?

Output: A state approved voluntary plan for Disability Insurance is offered by the State of California . Employers in California may use the State Plan or a Voluntary Plan to cover their employees . Contact the Employment Development Dept for the State of California for details and options for your Disability coverage .


Input: How Does Homeowners Insurance Escrow Work?

Output: An escrow account is usually setup for you when you buy a new home , and this account is used to pay your property taxes and your homeowners insurance . Your monthly payment will include our principal and interest payment to the mortgage lender , as well as 1/12 of your yearly property taxes and homeowners insurance . When payment is due , your lender will make the payment on your behalf from the escrow account .


Input: How Exactly Does A Life Insurance Agent Get Paid?

Output: A Life Insurance Agent gets paid from the life insurance company . The compensation is based on the target premium or commissionable premium . The compensation arrangement may vary significantly depending upon whether the compensation model is New York or Non New York based . It also matters if the agent is a career agent , which may have additional benefits attached to production , or a broker who generally makes more money , but without benefits .


Input: How Exactly Does A Life Insurance Agent Get Paid?

Output: Most life insurance policies pay a commission to the agent who sold the policy . The commission is usually a percent of the `` commissionable premium '' . The commissionable part of the premium may or may not exclude policy fees , and with universal life there is a target premium beyond which no commission is paid . The commission is usually paid within a month after the policy is placed , although some companies pay faster than others . If the insured drops the policy during the first year , some or all the commission may be charged back from the agent and returned to the life insurance company .


Input: How Does Hmo Health Insurance Work?

Output: An HMO -LRB- Health Maintenance Organization -RRB- is a conglomerate of physicians and other providers that work together to provide top-notch healthcare to you for an affordable price . They are available in most areas . Typically , you have a large Network of providers that you can utilize . There will be a PCP -LRB- Primary Care Physician -RRB- that will coordinate the healthcare that you receive .


Input: What Does Per Unit Mean In Life Insurance?

Output: Per unit in life insurance is usually referring to the annual cost of coverage per unit . A unit is $ 1,000 of life insurance protection . Therefore , if , e.g. , you are being quoted $ 5.00 per unit , you would be paying $ 500 per year for $ 100,000 of life insurance .


Input: Who Should Own Your Life Insurance Policy?

Output: In Canada , you can own a policy on anyone you have an insurable interest in -LRB- with their permission -RRB- including yourself . If your company owns the life insurance on your life and the company is not the beneficiary . It would be considered a taxable benefit . With one exception transfer of ownership is considered a deemed disposition . In other words it could trigger a taxable gain . The Income Tax Act provides for the transfer of a policy to the policyowners child , without a taxable disposition to the policyowner , if a child of the policyowner is the only person insured . Child includes any natural or adopted child , grandchild , stepchild , son - or daughter-in-law . THAT ONE EXCEPTION creates a planning opportunity . Does it make sense to keep paying income tax each year on the growth of your non-registered investments ? Use non-registered assets you wont need during your lifetime . Buy an exempt permanent life insurance policy . Structure the policy to : enable tax-efficient distribution of your assets to future generations and give you control and access while living . Growth inside a permanent life insurance policy is not subject to annual tax -LRB- within limits -RRB- and Proceeds of life insurance go to named beneficiaries tax-free . Example : How it works : You own the policy . Your adult child is the insured person , Your grandchild is the beneficiary While living , Your adult child is contingent owner At your death , Your adult child becomes owner of policy Benefits for you Taxes - Reduce your annual income tax Control - Keep control of your assets - Can change beneficiary and coverage amount -LRB- subject to underwriting requirements -RRB- - Can access the cash value in the policy if necessary Legacy - Preserve your legacy for your children and grandchildren - Generate estate value , not taxable income If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Who Should Own Your Life Insurance Policy?

Output: That is a great question ! The best way to answer your question , is to ask you a few : Who is being insured ? Who will be making the payments ? And who is trustworthy enough to oversee the policy ? If the insured is a minor , then you will want a parent or guardian to own the policy . You can be the owner of your own policy . If the policy is paid for by someone other than the insured , do you want them to be the owner ? The owner has the right to change who will get the money when the insured passes . Therefore , you want the owner of the policy to be in line with your wishes . Hope that helps , thanks for asking !


Input: Who Should Own Your Life Insurance Policy?

Output: The owner of the life insurance policy is the person who can change the beneficiary , change the payment type , borrow from the policy , reduce the face amount , or cancel the policy . If you are the only one you trust to do those things , then you should own your own policy . If you have a very large estate , you may want to consider having another person or a trust own your policy , for tax purposes .


Input: Who Should Own Your Life Insurance Policy?

Output: Generally , you will want to be the owner of your own life insurance policy . Two of the three parties of a life insurance policy -LRB- owner , insured , and beneficiary -RRB- must be the same entity so you do not violate the goodman triangle -LRB- a tax issue arises when you have 3 different parties on a life insurance policy -RRB- . As most insureds want to have control over the policy that is on their life , they will be the owner and insured of the policy . If you are purchasing the life insurance for estate planning purposes , you may be using an Irrevocable Life Insurance Trust -LRB- ILIT -RRB- and putting the insurance into the trust . When you do this , the ILIT would be the owner and beneficiary of the policy .


Input: How Many Times Can We Claim Car Insurance?

Output: You can file a claim as often as you experience a covered loss . The company probably keeps track of every claim above a certain amount -LRB- $ 750 for example -RRB- and uses the payout to develop an increase in future premiums . If repetitive claims are similar , for example vandalism , the company might remove that coverage . If the claims are truly random and just bad fortune , there shouldnt be any particular problem .


Input: Does Life Insurance Cover Flying?

Output: Yes , life insurance covers death while a passenger on a plane . Life insurance covers death due to accident and death due to natural causes -LRB- illness or old age -RRB- . If the person flying is the pilot , and they got their policy while a pilot or studying to be a pilot , they need to have life insurance that covers pilots in order for the policy to pay .


Input: Does Life Insurance Cover Flying?

Output: As a fare paying passenger ? Yes . As a pilot or flight crew ? It 's going to depend on the insurance company . If you are a pilot or part of a flying crew you want to disclose this upfront during the application process . Some carriers exclude pilots , others charge an extra rate fee and still others have absolutely no problem with it and insure the person as they would anybody else .


Input: Can You Go To Emergency Room Without Health Insurance?

Output: Of course , you can go anywhere without health insurance . The question is `` What will they do with you when you show up in their ER ? '' If you arrive with a serious injury or presenting symptoms of a serious injury or medical event -LRB- like a heart attack -RRB- they are required to treat you . Showing up at the emergency room for a medical issue that is minor in nature and should be handled by a primary care physician , dentist or urgent/minor care center is another matter entirely and is one of the biggest problems and wastes of resources faced by ER departments . Any ER is going to engage in triage -LRB- determining who has the most serious problem and requires immediate attention versus persons with less pressing needs -RRB- and may direct you away or tell you to be prepared for a very long wait if your issue is minor . Your low grade fever and congestion may feel like an emergency to you but it pales in comparison to the person suffering from multiple traumas from an auto accident that is being wheeled in . In any event , the most expensive medical care you will ever receive is in the hospital 's emergency room . Yes , you can go without health insurance and in a situation of real need that is exactly what you should do . Just be prepared for a big bill when you do .


Input: Can retired educators receive tax deduction for health care premiums?

Output: Since the current tax law only allows health insurance premiums to be deducted by businesses or self-employed business owners . This leaves most individuals that have to pay for the cost of their premiums themselves having to do so with after tax dollars . Unfortunately , there is no additional provision that would enable someone that is retired to also pay their premiums with tax-free dollars .


Input: How To Prospect For Life Insurance?

Output: Most new life insurance agents are taught to prospect by first contacting their friends and relatives . That is the traditional way of prospecting for clients . Then you go on to holding seminars , advertising , going door to door , etc. . As an online life insurance agent for 12 years , I have found -LRB- after much trial and error -RRB- , that if you want direct marketing to be your forte , then work as hard as you can to develop internet leads , and do n't put a lot of time into traditional prospecting . That being said , you can not count on one lead source , as things can happen to sabotage it . So you must have leads available to purchase , in addition to those you develop yourself through your website , internet advertising , etc. .


Input: When Do You Need Life Insurance?

Output: You need life insurance once you have obligations that would be unmet if you passed away . This could include such things as providing for the financial well being of your family , ensuring the continuation of a business , or retiring debts incurred by you during your life . Once these obligations exist , you should seriously consider purchasing life insurance . Notice that several of these items could exist for one person all at once , which would further increase his or her need or life insurance .


Input: When Do You Need Life Insurance?

Output: You need life insurance when you have others in your life who would be harmed financially if you were to pass away . If this is at age 20 , graduating from community college with loans to be paid , or if it is at age 80 , suffering from poor health and no money to pay for your funeral , that is when you need life insurance , along with scores of scenarios in between .


Input: When Do You Need Life Insurance?

Output: You need life insurance before a tragedy strikes to protect your family , business partners and/or charities that depend on your contributions . Most people have financial liabilities , future obligations or some charitable intent . Upon the death of the policy insured , the proceeds pass to the policy beneficiaries , generally tax free .


Input: What Is A Life Insurance Retirement Plan?

Output: Cash Value life insurance can be used as a non-qualified supplemental retirement plan . There are four crediting methods to choose from : participating dividends , interest rate , indices and separate sub accounts using equities and bond investments . The design is critical to the expense loads . A TAMRA compliant non modified endowment contract using the lowest cost of insurance death benefit option can reduce the internal charges . As long as the contract is kept in force for the life of the policy insured , distributions can potential generate tax free income .


Input: What Is A Life Insurance Retirement Plan?

Output: A life insurance retirement plan is a nonqualified , tax deferred cash value accumulating policy . To maximize the accumulating cash values , the policy must be designed with lowest cost of insurance death benefit option non modified endowment contract . The contract death benefit and death benefit options must be managed throughout the life on the insurance to minimize the cost of insurance . There are several crediting methods available depending upon your risk tolerance . If the contract is designed correctly , the policy can generate tax free withdrawals to basis and policy loans of gain as long as the contract is kept in force for the life of the insured .


Input: When Do I Have To Use Medicare?

Output: I do n't know that you are required to use Medicare if you do n't want to but the question is , why would you refuse ? Medicare is heavily subsidized by taxpayers making it the most affordable form of health insurance available in the market place . Only Medicaid is less expensive to the patient .


Input: Does Trader Joes Offer Health Insurance?

Output: That is a great question ! According to their website , they do . I know that they limited their health benefits last year to those working over 30 hours a week , but gave those working less than that a check to cover the cost of insurance under the www.healthcare.gov exchange . They were able to show that the coverage obtained there was cheaper than what they could provide , and were kind enough to help pay for it . I 'd suggest that you check with the individual store that you are thinking about though , as I could n't say whether a franchise group would offer benefits similar to those offered by a corporate store . All in all , they had a pretty solid benefits plan , it looked like . Thanks for asking !


Input: What Is Medicare Excess Charges?

Output: Medicare excess charges occur when a Medicare beneficiary uses a medical provider that does not accept Medicare assignment . Keep in mind that most doctors and any hospital or clinic that accepts federal funds do accept assignment of benefits . Excess charges are what a provider is allowed to bill above Medicare for their services .


Input: What Is Medicare Excess Charges?

Output: Medicare excess charges is when a doctor charges more than what Medicare will pay for a medical service . They are allowed to charge up to a maximum of 15 % more than what Medicare will pay for the service . The bottom line is your chances of being charged more than the Medicare allowable is slim to none . Medicare punishes providers who want to charge more than Medicare pays . They punish them financially . Do n't let agent try to scare you into buying a Plan F or Plan G because they are the only two plans that will pay Part B excess charges .


Input: Can I Get Auto Insurance With A Suspended License?

Output: I am sorry to say that is going to be a bit difficult . If you have insurance and your license is suspended due to a serious infraction and your company learns about it , they may even take action mid term to cancel the policy . If your drivers license is suspended , then it is illegal for you to drive . An insurance company wo n't want to assume the risk .


Input: Can I Get Auto Insurance With A Suspended License?

Output: There are many carriers that will write you in this situation . Depending on your state . Some of the carriers that we use the will cover you if you have no license . They know that you are driving and they look at it as if you were in an accident with another one of their clients then they would want them covered so they would rather take the risk and insure you with a license or not .


Input: Can I Get Auto Insurance With A Suspended License?

Output: Yes , under the right set of circumstances it is possible to secure auto insurance coverage with a suspended drivers license . If you have hit the end of your suspention period and are looking to get your license reinstated then you will normally be required to have proof of insurance before getting your license back . Normally after a suspention you will be required to have an SR-22 also . Contact a local agent to discuss your coverage needs and pricing .


Input: Can I Get Auto Insurance With A Suspended License?

Output: In Virginia , you can get an insurance policy and file an SR22 which would allow you to get your license back . You have to check with DMV to see what fines need to be paid but you can get insurance . DMV will inform you how long the SR22 is required but in most cases it 's between 1 - 3 years .


Input: Can I Get Auto Insurance With A Suspended License?

Output: Yes you can , most likely with an SR22 filing . Although it is illegal , people do drive with suspended licenses . Expect to pay a higher rate with a high risk auto insurance carrier . Many people with suspended licenses must be able to show proof of insurance before their licenses will be reinstated .


Input: Does Critical Illness Insurance Work?

Output: Critical Illness Insurance does work , as long as the illness is included in the policy provisions , and of the type/severity that warrants payment per policy provisions . It pays a lump sum to the insured person when they are diagnosed with that particular health condition . Sometimes there is a stipulation that the insured person must survive a minimum number of days after diagnosis in order to receive the payment .


Input: Does Critical Illness Insurance Work?

Output: Reputable insurance companies pay legitimate claims on critical illness . Its an important part of your medical coverage , especially if your family has a predisposition to disease and chronic hospitalization . When youre young and healthy , critical illness is affordable . If you have this type of family health history , you should investigate critical illness insurance .


Input: How Much Is A Premium For Health Insurance?

Output: A premium is the amount you pay to the insurance company in exchange for coverage under a given policy . When a certain type of claim is made , the insurance company is going to pay the claim instead of you up to the defined amounts as stated inside the policy - for health insurance , the policy may only state the carrier is going to cover a percentage of the claim/fixed dollar amount and you would pay the difference -LRB- your coinsurance or copayment amount -RRB- Unfortunately there 's too many factors that go into premium pricing to say what an average plan costs . Your age is a big factor - the younger you are , the cheaper your premium - the older you are , the higher your premium . Also , if you use tobacco products , your premium can be increased up to 50 % as well . If you 're an individual buying on or off the exchange -LRB- and not securing group coverage through an employer -RRB- , you need to consider the level plan you want . There are four metal plans : bronze , silver , gold , and platinum.Bronze plans generally cover about 60 % of your healthcare expenses , Silver is 70 % , Gold is 80 % , and Platinum is 90 % . So , in short , the better the benefits that you want to have , the higher the premium will be.There 's also a catastrophic plan , but these are only available to individuals under age 30 . If you qualify for a subsidy , the cost of your premium can be lowered as well - whether you qualify for one depends on your income . This is where an independent insurance agent can really help you . They can work with you to look at a wide range of options from many of the top carriers in the industry .


Input: What Does 25 50 25 Mean In Auto Insurance?

Output: The first number is the limit in thousands of dollars of liability coverageper individual per accident , if you arefound at fault . The second number is the limit in thousands of dollars of liability coverage per accident for all individuals , if you arefound at fault . The third number is the limit in thousands of dollars of property damage coverage per accident , if you arefound at fault . Be aware every company and every policy is different . Please read your policy completely to know what coverage is offered or contact your local agent to have them go over the coverage that is offered on your policy .


Input: What Is The Commission On A Variable Annuity?

Output: It 's usually about 4 % to 6 % . And it depends on whether the annuity has a fixed account tied to it . But the you need to calculate how much bonus commissions are available . Someone who is securities licensed sells variable annuities . I 'm not a fan . Obviously . Variable annuities are expensive .


Input: What Is The Commission On A Variable Annuity?

Output: That is a great question ! The answer is really dependent though , on the company that issues the annuity 's commission schedule and your percentage rating , the amount the client has invested , and the product itself , among other things . There is a general range that they pay in commission , but yours could fall anywhere within that range . To be completely honest with you , I am not a fan of these annuities , and do not recommend them , or sell them , so I ca n't begin to tell you what the current monthly range would even be . These products are generally very risky , and have hefty fees , and I can think of safer ways to invest my clients ' money . I hope that helps at least a little , thanks for asking !


Input: Why Should I Get Long Term Disability Insurance?

Output: You should get Long Term Disability Insurance because the chance of becoming disabled if fairly high , and it is such a devastation to lose one 's income for an extended period of time . There are usually medical bills and other expenses incurred when a disability occurs , so having the benefits that Disability Insurance provides can be a `` life-saver '' .


Input: Why Should I Get Long Term Disability Insurance?

Output: The # 1 retirement risk is living to long . The longer you live , the greater the stress on your retirement income to make ends meet and added financial pressure of paying assisted living and/or nursing home care . Because the statistics of experiencing the need for long term care increases with age , so insuring you and your family is a wise money move .


Input: Will Auto Insurance Cover Another Driver?

Output: In Montana if someone has given your permission to drive the car then you are covered unless they have you listed as an excluded driver . Each state has different laws and rules also each carrier has the same guidelines . If you are a regular driver and have access to the car you should be listed as a driver . but if you are just in town and visiting they the persons car that you are borrowing should cover you .


Input: Is Whole Life Insurance A Good Thing?

Output: Whole life insurance is a very good thing for most people . The primary purpose of a whole life policy is to have a level premium for a specific death benefit designed to last your `` whole life '' when you die to pay a beneficiary . Whole life insurance is known as the Swiss Army knife of life insurance policies as it 's cash value can be used numerous ways for retirement , college funds , pay down a mortgage or help with an unexpected critical illness .


Input: What Is Modified Whole Life Insurance Policy?

Output: Modified whole life policies are whole life policies that feature a different premium structure to make them more affordable during the early life of the policy . In short , the premiums are lower during the first 5 years of the policy and then increase to a specified amount for the remaining life of the policy . Traditional whole life policies feature a fixed premium for the entire life of the policy -LRB- if it 's a participating WL policy , then you may have the option to reduce the premiums over time using policy dividends - varies by carrier -RRB- .


Input: What Is Modified Whole Life Insurance Policy?

Output: Modified Whole Life Insurance is really a company specific question . For one of the companies I work with , Modified Whole Life is designed for someone who has a medical history which most companies would decline or highly rate because of the medical history . Modified Whole Life from my experience is a policy which if you were to pass away in the first 2 years , your beneficiaries would only get the premium back with some interest . Oh ya , you are also restricted in how much Life Insurance you can get as well . These are not guaranteed issue policies however they are close .


Input: Can You Have A Roth 401K And A Traditional 401K?

Output: That is a terrific question ! Yes , you absolutely can , and should ! If you can afford to fund both accounts , by all means do so . The tax free growth advantage of the Roth , and the freedom to continue letting it grow when you turn 70 1/2 make it a perfect compliment to the taxed withdrawals of your 401k account . The balance of the two are a very good investment plan for your retirement . You should be aware that the IRS caps the amount of yearly contributions in your Roth at $ 5500 a year -LRB- $ 6500 if you are over 50 years old -RRB- . You can put $ 18,000 into your 401k , in 2015 , and an additional $ 6,000 if over the age of 50 . If you can afford to max these out , do it ! Especially the 401k if your company matches a percentage of the contributions that you are making . What a great question ! If you need more detail , please feel free to contact me , okay ? Thanks for asking !


Input: Can You Have A Roth 401K And A Traditional 401K?

Output: Yes , if your company offers both you can have both , however the total contribution for both accounts combined can not exceed the IRS contribution limits between the two accounts . The value in having both is for tax diversification in the future . The traditional 401K will require taxes to be paid on distributions in the future , and is subject to RMD , where the Roth is not .


Input: Does Credit Score Affect Home Insurance Rates?

Output: Some insurance carriers may use a credit score for rating purposes . Most of the insurance carriers in my state -LRB- New York -RRB- use a ` credit profile ' which means they access one of the big three credit bureaus and select specific items . What they select , how they interpret the data , and how it affects your premiums is not available for your scrutiny . In NY , credit profile is mostly used for new business quoting purposes for home and auto insurance . Carriers in NY load in a whole bunch of rating info when determining your premium - gender , age , marital status , own or rent your home , driving extract , # of years licensed , prior claims on home and/or auto policies , is your prior carrier preferred , standard , or substandard , distance driven to work , pleasuire or business use , and a lot more . Keep your ` credit profile ' and score as clean as possible . Most banks and credit unions have credit specialists who can advise you for free on how to do this . For example , pay all bills ahead of time if possible and always pay more than the minimum amounts . Do n't have credit lines totaling more than a certain % of your gross annual income , etc. . Credit profile is a major influence when getting insurance quotes . I know of no ` proof ' credit profile is a determinate of loss potential , but using credit profile for insurance rating is the way of the world .


Input: Does Credit Score Affect Home Insurance Rates?

Output: Credit history can be one of many factors that an insurance company uses in order to determine eligibility and pricing f a Homeowners Insurance policy . Any such factors and guidelines need to be filed and approved by your state Insurance Department and must be applied fairly and equitably every time a new business policy is being submitted and a renewal processed .


Input: Does Credit Score Affect Home Insurance Rates?

Output: Many property and casualty companies have begun using credit reports and scores to price their policies . While the two may seem unrelated , credit scores have been proven to be strong predictors of future claims . The use of credit scores for home and auto insurance is explicitly allowed under the Fair Credit Reporting Act , and permitted by the Federal Trade Commission .


Input: Can I Sue My Homeowners Insurance Company?

Output: This is a legal question , and I am not an attorney . The policy most likely states that you can not sue the company unless all the terms of the policy have been met . The terms of the policy spell out your responsibilities and the company 's . On the other hand you can file suit against anyone that you want , the question is , will you prevail ?


Input: How Expensive Is Whole Life Insurance?

Output: Generally speaking , traditional `` Whole Life '' Insurance is about the most conservative of the life product solutions , but also the most costly . Like all of the life insurance solutions , however , the amount you pay will be dependent upon three main things : A -RRB- The amount of coverage that you buy , B -RRB- your age when you buy it and C -RRB- your physical condition and health history .


Input: Does Homeowners Insurance Cover Flood Damage?

Output: If this question is referring to flood as in rising water then a homeowners policy will not cover flood damage . Only a flood policy will give you this coverage . If the so called flood was just a bursting pipe in the home then this type of loss would be covered by your homeowners policy .


Input: Does Disability Insurance Affect SSDI?

Output: No , Disability Insurance does not affect SSDI . Your Social Security Disability Insurance benefits are based on the taxes you paid in over the years , and that benefit is not reduced if you also collect private Disability Insurance benefits . The amount of private Disability Insurance payments you collect is tailored to supplement the amount of SSDI you get .


Input: Where To Report Life Insurance Proceeds On 1040?

Output: In most situations life insurance proceeds are not taxable as income . You do not have to worry about reporting on 1040 . If there is a sizable estate then it is best to consult your tax adviser to determine whether the proceeds are taxable or not . These situations are very rare .


Input: When Was Health Insurance First Offered?

Output: When was health insurance first offered ? It depends how you define `` health insurance . '' Forms of insurance , including healthcare , have been around for a very long time . Although it may not have been called `` health insurance , '' the concept was introduced many years ago and many variations have resulted from this .


Input: Will Homeowners Insurance Cover Broken Windows?

Output: Homeowners Insurance does cover your homes windows if they are broken due to vandalism , wind , hail or another peril that is covered on your policy . It is important to remember that the claim will most likely be subject to a deductible so when trying to decide whether or not to file a claim make sure to take your deductible into account .


Input: Can I Switch Car Insurance In The Middle Of A Policy?

Output: You may switch auto insurance carriers in the middle of a policy term . In most cases the premiums are pro-rated back to you but I would always double check with the carrier . In some cases , especiallyin the non-standard market carriers will short rate the policy meaning there is a certain amount of premium earned to the company they will hold back . Call your local agent to discuss .


Input: When Does Medicare Pay For Custodial Care?

Output: Medicare does not pay for custodial care in a nursing home if that is the only care needed . It will pay for limited custodial care alongside health care provided in a home setting , but the main purpose of the services must be health related . Otherwise , Medicare does not pay for custodial care , whether short or long term .


Input: Will Health Insurance Pay For A Nose Job?

Output: Only if it is deemed a medical necessity , and even then the insurer may require a second opinion . Health insurance will not cover a noise job that is being preformed for cosmetic reasons alone . If the noise job were to correct a breathing problem such as a severely deviated septum that resulted in potentially serious complications such as sleep apnea then it would be a qualified medical expense . Also if the nose job was a reconstructive procedure following a serious accident that seriously damaged a individuals face then again yes .


Input: Can I Park My Car On The Road Without Insurance?

Output: That is a great question ! I 'd ask you a couple of things - how likely is it that no one will drive past it -LRB- including police officers -RRB- ? If there is a chance that someone may come by and ding the car , or vandalize it , you may want to think about some coverage . If your car needs insurance to be registered , and have current plates , and there is a chance that you will get a ticket if it is n't , you may want to think about getting some insurance . Many companies offer a very inexpensive bare bones policy for non driven cars , I 'd suggest you ask your agent to look into one of those for you . Thanks for asking !


Input: Can You Own A Home Without Home Insurance?

Output: Homeowners insurance is not a requirement other then a requirement by a lender to protect their investment . If you own the home outright then it is within your right to be able to self insure if you wish . If you have the means to cover a potential catastrophic loss by all means self insure if you are comfortable with the risk involved . Most of us are not able to assume such a high risk , so even if the home is paid for I would still prefer to carry insurance on my largest investment .


Input: How To Apply For Long Term Disability Insurance?

Output: Applying for Long Term Disability Insurance is very similar to applying for Life Insurance . You first should visit with an agency that sells several types of DI policies so that you can find the one with your best price and the features you desire . You then fill out an application . After your application is submitted , you will do a free exam in your home or place of work . When the policy is approved , you will have a chance to look it over before making the first payment and accepting it .


Input: What Is The Right Age To Get Long Term Care Insurance?

Output: Most retirement advisers recommend investigating long term care at age 50 . Most Americans begin purchasing long term care in their 60s . But there could be mitigating circumstances in your family history that predisposes you to disease and/or nursing home confinement based on the experience of your preceding generation of seniors .


Input: How To Evaluate Long Term Disability Insurance?

Output: How to evaluate a long term disability plan ? It all comes down to the definition of what disability is . The best policies use the fewest words to define what disability is . The more words beyond that one sentence are really exceptions to the first sentence . The definition should be short and to the point . That is where you start and actually finish your evaluation . Why ? because the rest of the information does n't matter if you do n't qualify or if your qualification ends after a couple years .


Input: Does Geico Renters Insurance Cover Hurricanes?

Output: Unless it is specifically excluded in your policy , any renters policy , not just Geico , will cover damage caused by hurricane or any other peril.Check with your agent to be sure of your particular policy but I am not aware of any company that excludes hurricanes or damage caused by hurricanes .


Input: Does Geico Renters Insurance Cover Hurricanes?

Output: many carriers exclude this type of coverage if you are in the high risk areas for that I would recommend calling them and seeing if it is excluded . this is why having a local agent rather then an online policy can be an issue when it comes to asking questions . When you have a loss you want your answers right away and it is nice to have a local person who knows your insurance needs and makes sure that you are covered properly . many time clients buy online and know nothing about insurance and purchase a policy then later discovered that they were not covered on something they thought was covered . Also you can always contact your state insurance commissioners office they can assist you also .


Input: How To Get Free Medicare?

Output: Your premium for Medicare Part A is free if you have paid into Social Security taxes at least 40 quarters -LRB- 10 years -RRB- of your working life . There is a deductible and copay for most Medicare Part A services , but the premium for Part A is free to most people .


Input: How Long Should I Keep Retirement Plan Statements?

Output: Recording keeping can be a daunting task throughout a lifetime , but with new technology most statements can be scanned into your computer that uses a back up system . Scanning services may also be available in your community . Your adviser should also have statements and possibly your previous files before you engaged his or her services . some advisers recommend seven years , others three years .


Input: Which Insurance Company Is The Best For Homeowners Insurance?

Output: The best company writing homeowners policies is the one that covers you and your home . They are the only company that has promised to repair or replace damage sustained by your residence . They are the only ones that will stand beside you when you are sued . Regardless of price , when you have a claim you will understand the full value of a good insurance company . This type of company is represented by your insurance agent . He will listen to you , provide sound financial advice and communicate clearly with you and your insurance company . By setting appropriate limits the agent can maximize your savings when you have a claim .


Input: What Are The Best Steps To Take To Become A Health Insurance Broker?

Output: Being a health insurance broker is a extreamly difficult undertaking . The two markets that you will want to consider are the individual and the group markets . It is far more difficult to learn the group market because of the many IRC and federal regulations that come into play . There is no one path to becoming a knowledgable and trusted broker although I do recomend that anyone atempting to undertake such a career put in many months of intense study . Continuing education courses are great sources for indepth information about different aspects of the health insurance world such as HSA 's , FSA 's , systems of managed care , HDHP 's , self-funding , regulatory considerations , etc. . . Another wonderful resource that I view as manditory reading for anyone interested in brokering any employee benefts would be `` The Handbook of Employee Benefits '' by Jerry S. Rosenbloom , it is as close to a brokers bible as I have found . I would be happy to discuss this in more detail if you like ... Feel free to email me or give me a call sometime , - Christopher Lawrence 609-453-4359 Christopher@Lawrence-Financial-Consulting.com


Input: Can You Use HSA Funds For Long Term Care Insurance?

Output: Yes , you can use HSA -LRB- Health Savings Account -RRB- funds for long term care insurance premiums . Tax Qualified -LRB- TQ -RRB- long term care insurance is viewed as a medical expense by the IRS . HSA funds can thus be used for long term care premiums , in addition to other qualified medical expense , for a tax deductible contribution .


Input: Can A Minor Get Auto Insurance?

Output: Depending on your state laws . Here in Montana they can get and insurance policy but they ca n't have only their name on the title of the auto . So listing the adult as a driver on the policy for the minor 's policy will help keep the cost down for the minor and also protect the adult who 's name is on the title also . Check with your state insurance commissioners office they can tell you what your state guidelines are


Input: Is Disability Insurance Deductible On Schedule C?

Output: Yes but the type of product and the insured will determine if you can deduct the premium . Individual disability insurance plans that cover you as the owner of the business are not deductible . If a qualified sick pay plan is established premiums may be deductible . This approach generally requires the establishment of an LLC or C corp. .


Input: Which Type Of Life Insurance Is Right For Me?

Output: In order to find the life insurance that is right for you , you need to look at a number of factors . One factor is the purpose of the policy . If you passed away , would the policy be used to fund your funeral ? Send your kids to college ? Pay your partner 's living expenses until they passed away ? The purpose will help determine if Term or Permanent -LRB- or a combination of those -RRB- is right for you . Another factor is the amount of coverage . Do you just need enough to get your loved ones ' back on their feet ? Do you have a disabled child who will need outside funds to stay in a particular home ? The amount of your obligations will help determine the amount of life insurance that is right for you . Another factor is the price of the life insurance . You will need to set up a plan or plans that fit your budget , so that you can keep your coverage until it is needed . There are other factors that an experienced agent can walk you through to help you get the best life insurance for your situation .


Input: Why Does Medicare Not Pay For Refraction?

Output: Medicare does not pay for refraction because they consider it a routine service , even if the refractive state of the eyes was ascertained for medical purposes rather than to prescribe glasses . Optometrists and ophthalmologists must charge refraction charges as a separate item so they are not accused of Medicare fraud .


Input: What Happens When You Are In A Car Accident With No Insurance?

Output: When you are involved in an accident and do not have auto insurance you are placing yourself and your family in a situation with potential for large financial consequences . First if you are in a state that requires licensed drivers to have auto insurance you will more than likely be fined for not having insurance and other possible penalties . If you are the person responsible for the accident then you will have to pay for all the vehicle damages involved besides any medical expenses for persons involved in the accident and other damages that were the result of the accident .


Input: Is Pregnancy Covered Under Disability Insurance?

Output: Pregnancy is covered under short term disability insurance , as long as the disability insurance policy is purchased before the insured person becomes pregnant . Long term disability insurance pays for complications of pregnancy and childbirth that cause the insured person to be off of work for an extended period of time .


Input: Can You Get Medicare At 62?

Output: Medicare is not optional to start at age 62 , as Social Security is . You can only get it at age 65 unless there is another reason for getting it before age 65 . Those reasons are : having end stage renal disease , being on Social Security Disability for 24 months , or having Lou Gehrig 's Disease .


Input: Can You Claim A Breast Reduction On Medicare?

Output: The answer to your question is going to depend on if it is `` cosmetic surgery '' or is it medically necessary . Medicare and all health insurance policies have strict regulations about paying for `` cosmetic surgery '' and then what happens if you have complications from the suregery ? I would recommend you rule out `` cosmetic surgery '' because once the invasion is made it exposes you to all the possiblities of infection or other complications . You can go to WEBSITELINK and type the procedure into the inquiry window and see what medicare says


Input: Are Life Insurance Proceeds Taxable In New Hampshire?

Output: Life insurance proceeds are generally not taxable in New Hampshire unless they are left to the estate . If the beneficiary is the estate , or the death benefit goes to the estate because no beneficiaries are alive , the proceeds will be charged taxes and fees along with all the property in the estate . Federal estate taxes do apply to life insurance proceeds if over the exempted amount of $ 5,250,000 -LRB- in 2013 -RRB- . There are no state inheritance or estate taxes in New Hampshire .


Input: Are Life Insurance Proceeds Taxable In New Hampshire?

Output: If what you mean by `` proceeds '' is the death benefit when paid , then in all states when the death benefit is paid to a beneficiary that is a person and not an estate , no it is not taxable . However if the benefit / proceeds are paid to an estate that is valued at over $ 5.4 million , it most likely will be taxable .


Input: When Can You Withdraw From Your Roth 401K?

Output: Age 59 1/2 or 5 years after first contributions are made , whichever is longer . The alternative to any Roth IRA or Roth 401 -LRB- k -RRB- is cash value whole life insurance policies . Unlimited contributions , guaranteed growth , 100 % principal protection and guaranteed tax free death benefit . Just because your employer offers a 401 -LRB- k -RRB- program does not mean you need to participate . If you do n't get a big enough match to off-set the liquidity and cash flow , I would n't do it .


Input: When Can You Withdraw From Your Roth 401K?

Output: That is a great question ! Roth IRA 's are very withdrawal friendly , compared to other retirement plans . Simply put , your contributions can be withdrawn at any time without being taxed , as you paid the tax on those contributions before making them.Withdrawing your contributions is no different than taking it out of your savings account . It 's not income to take back your deposit . Your earnings , however , can be taxed under certain circumstances . To avoid them , your plan must be open for at least five years , and you must be at least 59 1/2 years of age . But ... even then there are reasons that you can pull earnings without being taxed - first time home buying , medical emergency payments , and qualified education expenses would not be taxed . Like I said , this is a very withdrawal friendly investment vehicle . So to recap : contributions can be taken tax free at any time . Earnings after 5 years , and if you are over 59 1/2 , unless it 's for a qualified expense . Remember that the purpose of your Roth is to generate earnings , and any withdrawal of funds from it early will have a very serious impact on that growth , so should be avoided if possible . This was a great question , thanks for asking it !


Input: How Much Life Insurance Do I Need In Retirement?

Output: Usually when a Life Insurance policy is written . The agent will qualify the the buyer with what is called Human Value Life Approach which simply means the financial value of the policyholder . The value is judged on the financial needs of the family id the policyholder is no longer there to support the family after any unfortunate mishap as a result . Bills must be paid . Funeral expenses . Child support , or any other financial regard to support the beneficiaries of the policy . A future analysis is given as to the present financial situation compared to what will be needed upon distribution of the benefit . There is also the consideration to purchase high amounts of a tax free lump sum benefit in order to create an estate , and distribute wealth for generations to come . There are policies that have a retirement value other than traditional cash value policies . Some may call it modified endowment , but , other names are according to how the company names it . Paid up policies are very much a benefit to this question . Like a Trans-Security policy from Trans America .


Input: How Much Life Insurance Do I Need In Retirement?

Output: The amount of insurance needed at retirement is totally dependent on your financial condition including long and short term obligations . Final expense is a static obligation you will have at any life stage . Find an insurance agent that can assist you in calculating the amount of life insurance that will take care of your obligations to the end of your life . Keith Prim - Dallas - 214-435-0791


Input: How Much Life Insurance Do I Need In Retirement?

Output: Do you own a home ? Do you have a mortgage ? Do you have a spouse ? Children ? How many ? What debts do you have ? Are your kids going to enter college ? Do you have grandkids ? All these things need to be considered . For this reason New York Life suggests between five and ten times your annual income , which is more than most folks seem to have , unfortunately for them .


Input: How Much Life Insurance Do I Need In Retirement?

Output: The answer to this is very subjective depending upon your situation , but I 'll try to make it a little more simple . The idea has always been that , when you retire , your need for life insurance decreases . Today , that 's not always the case . It 's much more complicated now , but there are some universal ideas : What is your need for pure death benefit ? How much debt do you have and how long will you have it ? How is your pension , 401 -LRB- k -RRB- , etc. set up ? Will the income from this be set up in a way that can provide both you and a spouse with adequate income should either of you die ? If not , how much income do you need to provide in the event of your death ? What will your death cost in terms of funeral expenses , taxes , and estate settlement ? Do you want to have that provided for ? Do you have people or institutions that you want to leave money for ? Will one or both of you need special care ? When you answer these questions and have an amount in mind , it 's time to explore how best to go about setting it up the right way . I 'm not going to go into the type of insurance or any income you may need to offset a shortfall in your retirement . That 's a much larger discussion that I 'll leave for you and an agent you can trust . He/She will be able to talk with you and come up with the program that fits your need and your budget .


Input: How Much Life Insurance Do I Need In Retirement?

Output: If you have a spouse , you may want to leave enough life insurance to replace the lost income to him/her by your death , over their presumed remaining years of life . You may want to have a life insurance policy that would take care of any remaining debts . If you are a business owner , you could use buy sell life insurance to enable a partner or relative to buy your share of the business . You could pass your estate to your children and grandchildren with life insurance . This reduces or eliminates taxation and maximizes what you leave to them . Finally , life insurance is a simple and quick way to pay for final expenses such as funeral .


Input: How Much Life Insurance Do I Need In Retirement?

Output: I have helped many people purchase substantial amount of life insurance in their retirement years . Here are some examples . One gentleman used it to maximize his pension distribution . When he retired , he took the distribution option from his pension plan that gave him the highest monthly income . However , because he chose that option , the distribution would last for his life only . It would not be passed on to his wife , should he predecease her . So , he took out life insurance to pick up the difference . When he passed away , the pension distribution stopped , but the life insurance benefit was paid so that his wife could continue to receive money . She was able to maintain her quality-of-life . Another gentleman was technically retired , but decided to start a business . He had many contacts , some ready capital , and time . Thats a good start for any entrepreneur :-RRB- Nonetheless , he did need a bank loan to jumpstart the enterprise . The bank required a life insurance policy to a indemnify the debt . So he purchased one . A couple were both retired , and heavily involved in volunteer work . There were a number of charitable organizations close to their heart . They wanted these causes to remain viable long into the future . So they purchased life insurance policies for the benefit of these charities . Yet another couple had a sizable estate . When they both passed on , Uncle Sam would come in and demand a huge amount of estate taxes to be paid . They had accumulated a number of business and personal assets , and there was no way they wanted their children to liquidate these just to pay the taxman . So they bought life insurance to take care of the tax obligation , and were able to pass on the assets intact to their heirs . I have met a number of retired couples who bought life insurance for the benefit of their adult children . Unfortunately , these children had become divorced and ended up back in the nest , at least temporarily . Once again , they had become financially dependent on their parents . Mom and Dad then took out policies to make sure that should their children tragically lose them , money would still be available to help to them get back on to their own two feet . And you thought your days of owning life insurance were over , didnt you ? :-RRB-


Input: How Much Life Insurance Do I Need In Retirement?

Output: Let me answer by beginning by asking you a question . How much do you expect your final burial costs to be ? Does that cover your wife ? What about any `` estate planning needs '' you may have ? Also remember the growth in that policy has grown tax deferred . Are you aware that you can convert that life insurance policy into an `` immediate annuity '' or you may want to use the cash value for `` long term care '' planning . If so , are yuo familair with the provisions of the Private Pension Act that allows you to convert that policy into a plan that is covered by the Private Pension Act and when you use the `` cash value '' to pay qualified medical expense , which includes you paying for care in your home , the cash value is not taxable .


Input: How Much Life Insurance Do I Need In Retirement?

Output: The amount of life insurance anyone needs is different from person to person . Most people need at a minimum a burial insurance policy to cover a funeral and final expenses . You can do this with a preneed insurance policy through a funeral home or with a small whole-life policy from any life insurance company .


Input: How Much Life Insurance Do I Need In Retirement?

Output: First are you retired ? If so then the point may be moot . However , if not you may use a policy to retire with funds that you accumulate over time . Purchased when you are younger the accumulation phase can be very nice . If you are retired , the average funeral cost today is $ 7300.00 . So getting a final expense policy may be expensive but you may notsave enough money in time to pay for your own funeral . Let your children contribute and use the funds as your legacy to them . Marc Crolius 877.894.4643


Input: How Much Life Insurance Do I Need In Retirement?

Output: Some reasons you might need/want life insurance in retirement are : 1 -RRB- To pay for funeral or memorial service , grave site , transportation for family to attend your funeral , etc. 2 -RRB- To pay for outstanding personal or business loans . 3 -RRB- To pay off mortgage . 4 -RRB- To pay off credit cards . 5 -RRB- To pay estate taxes , probate costs , and other costs of settling your estate . 6 -RRB- To leave an inheritance . 7 -RRB- To transfer ownership of business or property . 8 -RRB- To provide retirement income for yourself -LRB- this would need to be a cash value policy started years before retiring -RRB- 9 -RRB- To provide money for living expenses for your surviving spouse or other dependents . 10 -RRB- To provide a gift to a charitable organization . The amount of life insurance you need in retirement will depend on which of these or other needs/desires you have , and the amount needed to fulfill those .


Input: Does Homeowners Insurance Cover Asbestos?

Output: It may . It is really going to depend on the language contained within your homeowners policy . Please read your policy completely to understand the coverage provided and exclusions that may be contained within or contact your local agent to have them go over the policy with you so that you may understand it better .


Input: How Can Life Insurance Tell If You Smoke?

Output: There are several methods that life insurance companies can use to tell if you smoke . Not all of these are used when applying for every policy . 1 -RRB- They will ask about tobacco use on the application . 2 -RRB- They will test for nicotine/cotinine in the blood , urine , and/or saliva 3 -RRB- They will ask about tobacco use in a phone interview 4 -RRB- They will look at medical records to see if you are a smoker .


Input: Does Homeowners Insurance Cover Overflowing Toilet?

Output: Unfortunately in most cases it will not . Unless the overflow was casused by a covered peril it would not be covered . Things like this are considered to be part of home maintainance under normal circumstances . Read your policy completely to know what coverage is provided and what exclusions are within the policy or contact your local agent to have them go over the policy with you to explain the coverage and exclusions .


Input: Does Medicare Part B Cover Assisted Living?

Output: Medicare is not designed to cover any type of Long Term Care . Nursing Home benefits are limited to 100 days maximum and can only be accessed if you need skilled care after a hospital stay of three days , not counting day of discharge . The care must be required for the same reason the person was hospitalized and the person must be capable of improving with therapy .


Input: Does Medicare Part B Cover Assisted Living?

Output: No , Medicare Part B does not cover the residential cost of assisted living . Once you enter an assisted living residence , your Medicare Part B will still cover what it did before : medical equipment , outpatient doctor visits , etc. . But , unfortunately , neither Medicare Part A or B will cover the costs of living in an assisted living facility .


Input: Who Can Use The Health Insurance Exchange?

Output: Any person eligible to purchase health insurance in the United States , with the exception of persons qualifying for Medicaid and/or Medicare is technically eligible to use the government health insurance marketplaces . Whether you would want to or whether it would make any sense for you to use them are other issues entirely . The government marketplaces will help determine if you would qualify for any premium tax subsidy for coverage purchased through their system . If you qualify for little or no premium subsidy then you may find that the government marketplaces may not best meet your needs . You will probably have larger selection of insurance carriers as well as possibly health plan and network options you may not find in the government marketplace . You should seek out the services of a health insurance broker to helpfind the best coverage for your situation . If you have coverage provider by an employer , and this coverage is deemed affordable under the terms of the Affordable Care Act , -LRB- cost does n't exceed 9.5 % of your W2 income -RRB- then neither you nor your eligible dependents will be eligible for premium tax subsidies in the government marketplaces . This does not preclude someone from purchasing individual health insurance inside or outside of the government marketplaces and in some cases buying unsubsidized individual coverage for a dependent may be less expensive than adding them as a dependent onto your group plan .


Input: Who Can Use The Health Insurance Exchange?

Output: The simplest way to think ofhealth insurance exchanges is think of them like a Walmart , Target , Cosco , Kroger , etc. or even more similar - Amazon.com.Thehealth exchange is an online place to shop for health insurance , where insurance companies -LRB- like Blue Cross , Humana , UnitedOne , etc -RRB- can elect to have their health plans available for enrollmentSome states have their own exchanges in which they received federal dollars to operate , while other states opted for the federal government to handle the exchange through healthcare.gov . Just as anyone can walk into a Walmart or log on to Amazon.com , anyone can log on to an exchange and shop for health insurance . The plans on the exchange may be limited in the number of doctors & hospitals in the network in order to save premium dollars . For example , in TN , BCBS launched their `` E '' network , which has roughly 5000 providers state wide , where their other networks have ~ 45,000 & ~ 55,000 providers . The premiums for the `` E '' network are significantly lower . An insurance company may have addition plans available if you purchase directly through them . This is typically called off-marketplace , while enrolling through the exchange is on-marketplace . So ... if you had more choices off-marketplace , why would anyone want to enroll in a plan through the marketplace/health insurance exchange ? You can only obtain the government premium subsidy through the exchange . In other words , depending on your income , you could pay less through the marketplace . When you register , for example at healthcare.gov , there will be an opportunity for you to input your income from the previous year . If you are under 400 % -LRB- about $ 44k for individual -RRB- you could qualify for the subsidy , reducing the premium you would have to pay for your plan . After the insurance company receives your part of the payment , the insurance company tells the government you have paid & then the government pays the subsidy , so you get immediate relief . One final thought ... open enrollment ended 03/31 , so unless you have lost coverage involuntarily or had another qualifying event , you would be ineligible to enroll in individual health insurance until the next open enrollment .


Input: What Is Medicare IRMAA?

Output: Medicare IRMAA is a determination formula used to define your Medicare Part B and Part D premium . Medicare and Social Security review your earnings from prior tax returns and determines if you should pay a surcharge to your Part B and D premiums . High income individuals could pay an additional $ 66 for Part D and up to $ 230 more for Part B in 2013 .


Input: Why Was Medigap Plan J Discontinued?

Output: Plan J was one of four plans dropped in June 2010 . The changes were made due to federal legislation passed in 2005 . Although four plans were dropped , two new plans were added resulting in a total of 10 standardized plans -- the original number mandated by Congress in 1990 to simplify and standardize all policies that supplement Medicare . Medigap Plans E , H , I , and J are no longer sold ; however , if you already have one in place , you can keep it . As for current standardized plans , Plan F took the spot for Plan J. Like Plan J , Plan F covers all Medicare approved charges . You do n't have to pay any co-payments , deductibles , or co-insurance . If you have Plan J and your premium is getting uncomfortably high , it might be a good idea to compare premiums to Plan F or any of the other standardized plans available . I hope this answer was helpful . If I can be of further assistance , please feel free to contact me 1-888-411-1329 .


Input: Can You Get Renters Insurance For One Month?

Output: You can not purchase a one month renters policy . You can stop a renters policy at any time . Some policies may have a cancellation fee . Refund of unused premium is generally done on a pro rata basis but there is another technique , short rate cancellation which will result in a slightly higher earned premium . If this is a concern , check with your agent .


Input: Can You Get Renters Insurance For One Month?

Output: Renter 's insurance , and all insurance policies for that matter , can be canceled by the insured at any time . Insurance companies do not like to write policies for short periods because of the cost of underwriting . This is one reason insurance companies provide discounts for policies that are paid in advance rather than in monthly installments . People are much less likely to cancel their policies if they have been paid in advance .


Input: Can I Switch Medigap Policies?

Output: Yes . You can apply for a new Medigap plan at any point during the year . People often change their Medigap plans for a number of reasons , the most common being : You want to reduce your expenses by securing a lower premium from a policy with the same benefits -LRB- purchasing a Plan F with company B and dropping the existing Plan F with company A -RRB- . - this is the most common reason why people change their Medigap plans . Medigap plans are standardized so the coverage under a plan F is the same regardless of the company it 's through . So often people want to look at lowering their premiums when their policy gets hit with a rate increase . You may not need/want all of the benefits you 're paying for or you need/want more benefits than you have under your existing plan . Please note , if you do not have a guaranteed-issue right to purchase a Medigap plan without any medical underwriting , you would have to answer the health questions on the application . Medigap plans are guaranteed renewable . So in the event you could not medically qualify for coverage under a new Medigap plan , you always have the option of keeping what you have . I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage , including quotes and plan comparisons , and if you have any other questions . Thanks very much .


Input: What Is Renters Dwelling Insurance?

Output: Renter 's dwelling insurance or rental dwelling insurance ? Renters insurance , or dwelling insurance ? There are two directions to travel on this question . First , renters insurance is coverage for a non-owner occupant of an apartment or residential dwelling . We often use the term `` tenant '' or `` renter '' to describe this person or family . Since the tenant does n't own the structures the primary objective under a tenant or renters policy is to cover their personal property , additional living expenses after a loss we insure , and personal liability . A Renters Insurance Policy -LRB- Or Tenant Insurance Policy -RRB- is one of the various forms of Homeowner Insurance that has been modified to reflect the unique needs of a non-owner occupant of residential property . Rental dwelling insurance is coverage purchased by the owner of the residential dwelling to protect their interest in an apartment or dwelling occupied by someone else . It is n't required that the property be non-owner occupied under such dwelling policies , but typically , this is the case since most homeowners insurance policies afford a much better coverage and premium value than a dwelling policy . Dwelling policies can be used in a number of circumstances from those where the owner occupies the property , to those where a non-owner occupant resides in the home . A dwelling type policy is frequently used to provide coverage for a dwelling in the `` course of construction '' or when it is undergoing significant renovation . When used in this way it is not uncommon for the policy to be referred to as `` builders risk '' insurance . This type of policy is sold to the owners of property and not to builders . Builders can obtain coverage for their exposures to loss in these cases from a commercial liability and property policy they maintain for their operations . The builder would have only a financial interest in the property to the extent of their unpaid work and material so some form of policy coverage or endorsement that extends the value of property and services they have installed in such a dwelling would be the best method of providing coverage . After all , we always have to be concerned with the `` insurable interest '' and the only one with a true interest to the totality of loss would be the property owner and not a builder or contractor .


Input: What Is Renters Dwelling Insurance?

Output: This might be a misunderstanding . In renters insurance there is coverage for the personal property of the insured and none for the residence or dwelling . If the property is a condominium there is some coverage for the dwelling , to the extent that the interior walls and structures are insured for damage . Consult with a licensed insurance agent and I am confident you will be satisfied .


Input: Is Exercise Equipment Covered By Medicare?

Output: Exercise equipment is not covered by Medicare because it is not medical in nature . Medicare will only pay for durable medical equipment . Some items are covered because they are medically necessary ; some items are never approved , even if there is a need . Exercise equipment falls into the latter category .


Input: What Is The Average Cost For Health Insurance?

Output: According to an analysis released in March of 2014 the national average cost of a Silver level -LRB- 70 % actuarial value coverage -RRB- individual health insurance plan is $ 328 . This is where the `` and your results may vary '' disclaimer comes in . Individual health insurance costs vary significantly from one state to another and can vary significantly within different areas of any given state . The costs will vary from one health insurance carrier to another and they will definitely vary from one level of coverage to another -LRB- Bronze , Silver , Gold or Platinum levels -RRB- . Taking all the factors I just listed into account , your age and whether or not you use tobacco products will be the determining factors in determining the gross cost of an individual health insurance policy for you specifically . Finally , whether or not you fall into an income range that may qualify you for an advanced premium tax subsidy if you purchase health insurance through your state 's health insurance marketplace or HealthCare.gov will determine what your final net cost of individual health insurance will be .


Input: Does Allstate Have Long Term Care Insurance?

Output: Allstate does not offer long term care insurance according to their website and the CA department of insurance website . I believe they did , many years ago , offer group long term care insurance but stopped writing it long ago . Some states have resources on their insurance department website listing active and inactive long term care insurance company providers .


Input: Does Homeowners Insurance Cover Tree Damage To A Car?

Output: The homeowners policy covers you when you are legally liable because of bodily injury or property damage . The company reserves the right to investigate and defend against a suit brought by the owner of the damaged vehicle . The company has the right to settle with the owner of the damaged vehicle and all of the expenses are subject to the limits of the policy . That is why it is important to purchase as much liability coverage as possible .


Input: When Do I Need Term Life Insurance?

Output: When the cost of Whole or Universal Life insurance does not fit into your present budget is the time to start considering Term Life insurance . Also , when you have a tangible asset or pool of assets which have a definite useful life , after which you will sell or scrap them . At that point , term could be a better way to go than other types of life insurance since you could then match the coverage with the period of liability .


Input: When Do I Need Term Life Insurance?

Output: When do you need term life insurance ? Let me count the ways . You need it when you have a need for a specific amount of coverage for a specific amount of time . Examples include : A home mortgage ; A business loan ; A divorce decree . You also need it when you want permanent coverage , but dont have the budget for a permanent premium . At this point you can : By term now and convert it to a permanent policy when you are ready ; Or buy term now and then shop for a new permanent policy when you are ready . It must be noted that some people will buy both term and permanent policies . This strategy is useful for addressing different needs for coverage that take place over different time frames . For example , they will use term insurance to provide income replacement , family security , and mortgage protection . At the same time , they use permanent insurance to cover the needs they will have for life insurance in the later stages of life . These needs could include supplementing retirement , estate preservation , and charitable giving .


Input: When Do I Need Term Life Insurance?

Output: You need term life insurance when you need to create an instant estate to protect your loved ones . The rule is if you died today , how would your loved ones fair ? How much debt did you leave them ? Can they afford to pay for your final expenses ? Can they maintain their current standard of living without your income ? The answers to these questions determine how much and how long of term life insurance that you need .


Input: When Do I Need Term Life Insurance?

Output: You need term insurance when you want low cost life insurance protection to protect your loss of income . assets or many other items . Whether you are getting ready to retire , just starting a new job , getting ready to start a family or sending kids to college , term insurance is one of the best and most affordable ways to create an immediate estate . A full-time broker or financial planner is your best resource for accurate information and comprehensive rate and policy analysis .


Input: Can You Get Life Insurance On Other People?

Output: There must be insurable interest as defined by economic loss at the demise of the policy insured . If no such financial liability can been established the life insurance company will deny the application . Unrelated parties with no business nor personal economic relationship can not take out a life insurance policy on someone else .


Input: Can You Get Life Insurance On Other People?

Output: You can own a life insurance on another person as long as there is an insurable interest . Grand-parents will at times purchase a life insurance policy on thier grand-children , or parent may purchase a policy on thier children , or a child could purchase a policy on thier parent -LRB- s -RRB- . Contact your local agent to discuss the specifics of your situation to find out if you can purchase the type of policy that you want .


Input: Can My Car Insurance Sue Me?

Output: This is not legal advice . Anytime you intend to defraud a company or an individual you are subject to being sued . For example if you said you were operating your car when it struck a tree when the truth was your brother was driving the car , his license was suspended and you had signed a form excluding him from coverage , you could be sued , particularly if the company had settled the claim before they discovered your deceit .


Input: Can My Car Insurance Sue Me?

Output: That is a great question ! While it is n't common for insurers to file suit against you , it is possible that they would . There would have to be a reason on their part to do so , and usually that implies that there was something on your part that they felt was n't done , or was misrepresented . If your company is making noises about suing you , get a lawyer that will help you sort it out . Good luck , and thanks for asking !


Input: How Much Home Insurance Is Required?

Output: To the best of my knowledge homeowners insurance is not required in any state . Your mortgage lender may require you to carry homeowners insurance on your premise though . The amount of coverage that you have will depend on many factors the most prominent of those factors would be the reconstruction cost of the premise in most cases . Contact a local agent to discuss your coverage needs and the costs associated with that coverage .


Input: What Is Private Split Dollar Life Insurance?

Output: Private split dollar life insurance is a plan that allows for the costs and/or benefits of a life insurance to be split between two private parties . Those participating in private split dollar arrangements are usually family members or their trusts . Often , a second to die life insurance policy is used with a life insurance trust . To find out more about options using private split dollar life insurance , contact a knowledgeable life insurance agent .


Input: What Is Private Split Dollar Life Insurance?

Output: Private split dollar is a sharing arrangement of cash values and death benefit coverage between two parties with insurable interest . Generally speaking split dollar life insurance arrangements are popular between business owners and key executives as a retention benefit of employment . It can also be used between the grantor of an estate and an Irrevocable Life Insurance Trust as financial leverage in paying federal and/or state estate taxes .


Input: When Is Disability Insurance Necessary?

Output: Disability Insurance is necessary for those who would suffer extreme financial hardship as the result of not drawing a salary for several weeks , months , or years . It is up to you to decide how long you could go without receiving an income , then you can lower your premium for your Disability Insurance policy by extending the elimination period of your policy .


Input: Is Homeowners Insurance More Than Renters Insurance?

Output: This question is like comparing an apple to an orange . Your talking about two different types of polices . So to give you a very blanket answer in most cases the homeowners policy would be more simply because you are insuring the dwelling which on a renters policy you are not .


Input: Is Homeowners Insurance More Than Renters Insurance?

Output: Under like coverages and circumstances it is a good possibility that it will be , but this really depends on the carrier . Each carrier sets their own rates based on their company standards . Contact a local agent to find out about coverage availability and pricing within your specific area or to discuss coverage details .


Input: Is Homeowners Insurance More Than Renters Insurance?

Output: Yes . All things being equal , HO will cost more than an equivalent renter 's policy . Why ? Because HO covers the value of the dwelling and any external buildings as well as your personal property , and liability risks ; whereas the renter 's policy only covers your personal property , clothes , furniture , etc. . If you are renting a house or an apartment , condo etc. then you only need renter 's insurance , but if you own the property , you need home owner 's insurance . That 's the rule you need to follow .


Input: What Is The Definition Of Long Term Care Insurance?

Output: Financial Dictionary on the internet has the best definition for long term care insurance that I have found . It defines long term care insurance as `` insurancepurchased against the possibility that the benficiary will require long-term medical care for a debilitating but non-life threatening condition . ''


Input: What Is The Definition Of Long Term Care Insurance?

Output: Long term care insurance is a morbidity product offered by insurance companies to pay for expenses incurred from assisted living and nursing home care . Long term care insurance helps mitigate the cost of extended elder care during retirement . With longevity risk ever increasing , long term care insurance is a must in retirement planning .


Input: What Will My Insurance Pay For My Totaled Car?

Output: Your insurance company will give you what you agree to take . Generally speaking they will use a pricing service such as Kelleys Blue Book or Edmunds to establish a price for a car with your mileage and general characteristics . You can negotiate with the insurance company if you feel that the price is not accurate . In those negotiations you can not rely upon modifications that you have made to the vehicle .


Input: What Part Of Medicare Covers Oxygen?

Output: Medicare Part B covers oxygen equipment as durable medical equipment -LRB- DMEs -RRB- when your doctor says you have a medical need for it -LRB- e.g. you do not get enough oxygen in your body , you have a lung/respiratory disease , etc. -RRB- .


Input: Is Car Insurance More Expensive If You Drive A Convertible?

Output: Car insurance rates for convertibles will vary , depending on the value of the vehicle , where you live , your driving record , and what discounts are applied . Since many convertibles are more expensive than other vehicles , rates are sometimes a bit higher . But there are many low-insurance-priced options that you 'll definitely enjoy driving . LIVE answer provided by : Ed Harris - Premier car insurance broker since 1980 and owner of several top-rated auto websites that provide the lowest available rates .