Input: Should Car Insurance Increase Every Year?

Output: If the cost of auto repairs hasnt increased and damages awarded in lawsuits hasnt increased , auto insurance probably shouldnt increase . Your state insurance commissioner keeps a close eye on insurance cost in your states . He does this for two reasons . The first is to make sure that the public isnt being charged too much and the second is to make sure that the insurance companies are taking in sufficient money to honor all of the promises that they have made . The real cost of automobile insurance is determined when you have a claim . If the policy limit is exceeded and angry people are suing you , you paid too much for your insurance . If your policy had high limits and took care of everything , then you bought cheap insurance . Having to settle a claim out of your own pocket is the most expensive form of insurance that you can purchase . The reason that insurance premiums increase is that the company pays out more than it can afford to pay out . It is a simple balance sheet calculation . When the company finds that they are paying out more in claims than they are receiving in premiums they file with the state insurance commissioner to review and adjust rates in your state . Several things cause the claims experience of a company to increase . It could be that the frequency of claims increases . This could be the result of reduced safety enforcement , poorer road conditions or a variety of other causes . It could be that the severity of claims has increased . This would be the result of an increasing number of accidents turning into lawsuits . It also could be caused by juries making increasingly high awards to those injured in accidents . It also could be the result of increased medical costs in your area . Another factor could be the cost of auto repairs . Materials and parts tend to become more expensive over time and this could affect the claims experience of a company . It is important to note that most companies in the state will feel similar pressure at the same time as those factors affect all the companies . There are moral factors that also come to affect the premiums of auto insurance . When drivers report fewer annual miles than they actually drive , that increases their exposure without increasing the premium for their policy . If people allow other drivers to operate their vehicles without adequate supervision of screening risky drivers could be populating the streets . Even though your state requires that vehicles be insured we all know that some are not and that expense has to be shared somewhere . A frequent abuse is the pizza delivery man who is driving the family sedan . His insurance policy never knew he was doing that and has a risk that hasnt been properly evaluated . There are far more lurid cases but my all-time favorite is the family sedan that has steel tanks welded underneath the body to carry illegal liquor . All these moral issues also affect the premium .


Input: How Much Will I Be Taxed For Not Having Health Insurance?

Output: Starting Jan. 1st , 2014 , the tax penalty for not having health insurance is $ 95 per person for the year -LRB- up to 3 persons max per household , and where dependents under 21 count as half a person -RRB- or 1 % of annual income , whichever is greater . But , for the Initial Open Enrollment Period , you have from Oct. 1st , 2013 to March 31st , 2014 to sign up for a plan to avoid the penalty ... For example , a family of 4 or more , would only pay a max of $ 285 in 2014 -LRB- $ 95 x 2 adults = $ 190 , plus 2 children at $ 47.50 = $ 95 , for a total of $ 285 -RRB- . But , for a single individual , they would most likely pay the 1 % of income , up to the $ 285 max -LRB- i.e. a single 33yr old with $ 22,000 annual income would pay 1 % or $ 220 for the year , because $ 220 is greater than the $ 95 per person and below the $ 285 max household -RRB- . After 2014 the tax penalty increases to $ 325 in 2015 , or 2 % of income up to $ 975 max -LRB- 3x $ 325 -RRB- . Followed by $ 695 in 2016 , or 2.5 % of income up to $ 2,085 max -LRB- 3x $ 695 -RRB- ; and then adjusted to Cost of Living Increases thereafter . Also , the penalty can be prorated . So , if you are only uninsured for 1 month out of the year where a penalty would be applied , you would only pay one month 's worth of penalties -LRB- i.e. For 2014 , if you miss one month you would pay $ 95/12 = $ 7.92 per person , or 1 % of your income/12 -RRB- . And due to the application processes and effective dates for insurance , one day of being uninsured , equals one month . So , be very aware of when you apply for insurance and when it will take effect . It 's best to work with an insurance agent or broker , and an accountant , to calculate the exact tax implications for your individual situation ; to assure that you are indeed responsible to pay the tax or if you are exempt from it .


Input: What Are The Best Variable Annuities?

Output: A variable annuity is a security and insurance product that needs to be deemed suitable for the buyer before moving forward with the purchase . You could lose money in variable annuities . Variable annuities have differing embedded policy provisions and additional riders , usually , for an addition price . Expense loads may dictate the value of the variable annuity as does the portfolio of separate sub accounts . Once you 've determined your risk tolerance and product suitability you can rank variable annuities by expense loads and policy provisions that best fit your financial goals .


Input: Can You Purchase Short Term Disability Insurance On Your Own?

Output: Yes you can purchase short term disability on your own . There are several companies that market individual policies directly to consumers . However , these policies are limited compared to policies you can purchase at work through your employer . The underwriting criteria are often more strict . You have to be in very good health in order to qualify . Rates are often higher also . Direct purchase policies do not cover recovery from normal childbirth , while those sold through groups typically do .


Input: Does New Hampshire Require Auto Insurance?

Output: New Hampshire does not require you to have auto insurance . However , you are required , by law , to meet the Motor Vehicle Financial Responsibility Requirements . If you can no meet these requirements , your license may be suspended . Sufficient funds must be available in case you have an accident that is your fault . The requirements are $ 25,000 per person , $ 50,000 per accident and an additional $ 25,000 of property damage . $ 1,000 of medical payments coverage is required if the vehicle is for personal use . Most persons purchase car insurance policies . An experienced broker will provide the lowest available rates for you in New Hampshire from the best carriers .


Input: Does Homeowners Insurance Cover Jewelry Theft?

Output: Most home policies will cover the loss but if it is of a higher value and you did not schedule it then it is possible that you will not get all of what it is worth that is why it is so important to discuss with an agent about what you have and what needs to be protected in theevent of a loss is tragic enough but then to find out later that you were not covered properly is even worse . Anything of a significant value should be scheduled in


Input: Does Homeowners Insurance Cover Jewelry Theft?

Output: Almost all homeowners insurance policies provide limited coverage for jewelry . If you have a piece of jewelry that is over $ 1000 for a single piece it will more than likely need to be scheduled on your homeowners policy to be properly covered . Remember every policy and carrier are different . Read your policy completely to understand what coverage is provided and what exclusions there may be or contact your local agent to have them go over the policy with you .


Input: Which Glucose Meters Are Covered By Medicare?

Output: As far as I know , all glucose meters are covered under Medicare Part B . If the equipment provider is an approved Medicare provider , there should be no problem . You can find Medicare approved providers by following this link WEBSITELINK Enter your zip code the follow the prompts to locate Medicare suppliers .


Input: How Much Can I Put In A Roth 401K?

Output: The maximum contribution might be subject to provisions in your employers plan , however , the Internal Revenue Code allows for contributions to reach a maximum of 25 % of compensation . The maximum amount you can receive from the plan is $ 52,000 . To find out specific information about your Roth 401 -LRB- k -RRB- plan , ask your employer for a copy of the plan .


Input: Does Renters Insurance Cover Cell Phones?

Output: Renters insurance does cover personal property up to the limits specified within the policyfor covered perils only less your deductible . Your best bet for coverage for your cell phone is to speak with your cellular carrier most offer coverage that will protect you better than what is provided through your renter 's insurance . Read your policy completely to understand the coverage provided or call your local agent to discuss coverage offered and exclusions on the policy .


Input: What Does Home Insurance Cover For Water Damage?

Output: If the water is coming into the house from outside the damage will be covered if it is entering the house because of a named peril -LRB- i.e. fire . -RRB- If the water is coming from inside the house and is sudden , like a burst pipe , that also will be covered . The damage that comes from slowly leaking vessels or pipes creates a different situation which should have been noticed and corrected . In those cases coverage may be denied .


Input: What Does Home Insurance Cover For Water Damage?

Output: It may , but it is best to talk to your Insurance Professional about the specific terms and conditions of your policy . There may be limitations or exclusions that limit or offer no coverage at all . For example , water damage caused by a flood is never covered under a Homeowners ' policy . That coverage is only available through a Flood Insurance policy . On the other hand , water damage caused by a burst or leaking pipe or valve will more than likely be covered subject to your property deductible .


Input: Where Should I Buy Life Insurance?

Output: You should purchase life insurance from an independent agent or brokerage source that has access to the majority of life insurance companies that do business in the U.S. Objectivity in published brokerage spreadsheets can position you to make a wise determination on what life insurance company to buy based on their premium rank and policy provisions .


Input: Where Should I Buy Life Insurance?

Output: Trust is the key word when purchasing life insurance . Beware of buying off of websites unless you know the company . There is a lot of personal information needed when buying life insurance , you do not want your sensitive information falling into the wrong hands . The best way to purchase life insurance is from someone you know and trust or through a recommendation . It is always a good idea to ask family , friends and coworkers who they have used in the past and what were their experiences . You will find a good independent broker I am sure .


Input: Where Should I Buy Life Insurance?

Output: You should buy life insurance from a place you trust . If on a website , look to see if they are part of the Better Business Bureau , have a TRUSTe designation , or other symbols that show they are reputable and secure . Look at how long the agency has been in business , if they have legitimate contact information , and are willing to introduce you to any of their staff . Testimonials can be most telling , especially if they do not sound contrived but are actual statements from actual clients . It is helpful to use agencies that carry multiple products and carriers so that you do not have to spend all your time shopping . When a health condition is involved , it saves much discouragement to use an agent or website that specializes in that health condition , or impaired risk life insurance as a whole .


Input: Is Life Insurance Part Of A Will?

Output: is life insurance part of a will ? In most cases NO , as life insurance is a separate thing that works outside of probate and a will . Life insurance pays to a stated beneficiary directly , it does n't need to go through probate or be included in a will . That said , you can make the will your beneficiary and put it through probate if you so choose .


Input: Is Life Insurance Part Of A Will?

Output: Life insurance benefits may be included in a will if it is included as part of an estate as in the case of a trust . Whole life insurance is largely used to create or enhance an estate so that there is an inheritance to be passed on to heirs . So in some cases an estate will be named as the beneficiary of a life insurance policy , and then it could be that the will of the owner of the estate will name a recipient for the proceeds of the life insurance .


Input: What Is The Cost For Health Insurance For A Small Business?

Output: Health insurance for small businesses is known as group health insurance and it works very differently from individual coverage - there are many moving parts involved with putting together a group health insurance plan . There are different types of programs available for group coverage and each business may have a different tolerance for what they 're willing to take on in terms of price or what they 're willing to offer to their employees . Group health insurance quotes are based on the size of your business , the industrys SIC code , age of employees , and average employee health -LRB- except in Maryland , which requires no medical underwriting -RRB- . So , in short , there 's really no way to say what group coverage costs without going through that input first to create the quotes . There are no instant online quotes for group health insurance for these reasons . To get a quote for group coverage , I recommend consulting with an experienced broker . We can shop for quotes from multiple companies for you and create a benefit structure that best serves the needs and budgets of your business and your employees . Please feel free to contact me for help . Thanks very much .


Input: What Is The Cost For Health Insurance For A Small Business?

Output: As an experienced health insurance broker with a top-ranked website for 33 years , this question is discussed almost daily . I 'll provide you with a short direct answer . Without question , there are many affordable healthcare plans available to small business owners and their employees . The price will depend on many factors , including where you live , the type of business you operate , the number of workers etc. . . And naturally , the type of benefits desired impact prices . By contacting an experienced broker for free quotes , you 'll save time , money and an incredible amount of frustration . I guarantee it !


Input: What Is The Cost For Health Insurance For A Small Business?

Output: No one can give you a definitive answer to that question without information on your employees and gathering quotes from different insurance carriers . Factors such as the geographic location of your business -LRB- base costs vary from state to state and even within states -RRB- , the ages of your employees -LRB- very important in the small group fully insured market where community rating now applies -RRB- , the funding approach you choose to use -LRB- fully insured vs self-funding which is becoming increasingly available and attractive to smaller groups -RRB- , the health condition/male to female content & average age of your workforce -LRB- if you are going self-funded or have more than 50 employees -RRB- , the plan of benefits and the insurance carrier quoting on your group are all variables that will yield different rate results . As you can see , it 's not a simple process but it is an important one as you can expect that providing group health insurance will be your second or third largest fixed cost in your business . So , making the right choices and carefully managing your program over time are crucial to maximizing the value you get out of your employee benefits program . I bring nearly 30 years of experience in the employee benefits business to the service of my clients and would be honored to consult with you on your group 's needs . Please feel free to contact me for a free consultation .


Input: How To Cash In A Whole Life Insurance Policy?

Output: The cash value of a whole life policy is guaranteed . Most companies require an application to surrender a policy . In community property states , the rights of a spouse must be considered . Once that is settled the company will quickly send you a check for the surrender value , minus unpaid loans , and over-due premiums the policy will be void as soon as you cash the check !


Input: How To Cash In A Whole Life Insurance Policy?

Output: The policy-owner can either contact the agent or the insurance company directly to request the company 's surrender forms . At the same time , request a policy value quote to ensure there will be no surprises when you receive the payment . Not all whole life policies have surrender charges but , if so , and if the policy is still in the surrender period , the cash value will be reduced by a surrender charge -LRB- charge for early penalty -RRB- . The cash value may be further reduced by any outstanding policy loan . If the cash value does not exceed the cumulative premiums paid into the contract , there should n't be any taxable issues .


Input: Do I Need To Sign Up For Medicare Every Year?

Output: No . Once you have enrolled in Medicare Part A and or B you are always on it unless you choose to cancel it for some reason . With Medicare Part D -LRB- your drug coverage -RRB- you are wise to review it every year between October 15th and December 7th because you plan can change even if you did n't do anything to change it . Also if you chose to go with Medicare Part C -LRB- Medicare Advantage -RRB- you need to meet with your agent every year between October 15th and December 7th to learn of your changes which take effect January 1st each year . But original Medicare Parts A & B stay basically the same year after year and you never have to reapply .


Input: How Early Should You Buy Long Term Care Insurance?

Output: Most advisers begin addressing long term care insurance with the clients around age 50 . But the buying public tends to purchase long term care insurance around age 60 . A couple of considerations here : You want to buy long term care when your healthy an relatively young to afford the premiums . But even if youre healthy , whats the predisposition of your family regarding assisted living and nursing home confinement ? If theres negative health history , then buying long term care earlier may be more prudent .


Input: Can You Register A Car With Someone Else's Insurance?

Output: If you are a listed driver on the policy and the car is on the policy and you live in the same house hold this is possible with some carriers . However If you are not living with them and they are just putting your car and you not listed as a driver then there could be some issues . A person can not insure something the do not have insurable interest in . So If you are having a friend put the car on their policy just so you can register it then that would not be the case . As always check with your state laws and the insurance carrier as to what guidelines they have .


Input: Does Renters Insurance Cover Termite Damage?

Output: Your renters policy covers damage to your personal property . The perils that are covered are described in the policy but generally exclude insect damage . If the damage is unseen and results in a collapse there could be coverage . Taking care of a termite problem is not a covered peril .


Input: Does Renters Insurance Cover Termite Damage?

Output: Renters Insurance does not cover termite damage . In fact termites are not the problem of the renter other then reporting to the landlord . This pest issue rests on the responsibility of the Landlord . Unfortunately the Landlords insurance will not cover the termites either since rodent , insects and vermin are excluded from a property policy . Time to call the exterminator .


Input: What Is Medicare And Who Gets It?

Output: Medicare is a federal health insurance program for persons age 65 and older who have paid into the program , for disabled persons , and for persons diagnosed with end stage renal disease . There are many details to the program that you can read about at WEBSITELINK or by calling 1-800-MEDICARE .


Input: What Does Health Insurance Rated Mean?

Output: A rated health insurance plan is one that includes a premium surcharge or load . The standard or preferred rate is insufficient to support the risk presented by the individual applying for health insurance . In some cases the surcharge is temporary while some conditions may result in a permanent load . Examples of a temporary load include tobacco use or excessive weight . Once the individual has stopped using tobacco products for a designated time period , or weight loss has been achieved and maintained , the premium loads may be removed .


Input: How Mutual Fund Dividends Work?

Output: Mutual funds distributions are different from the dividends paid by stocks . Stock dividends are usually a distribution of profits . Most mutual funds are set up as trusts and pay tax at the highest rate on any gains -LRB- interest , dividends , capital gains -RRB- that are held in the mutual fund . In order to avoid paying tax at the highest rate the mutual find flows through the gains to unit holders . Some mutual funds also distribute a portion of the original capital . Consequently , the distribution paid by a mutual fund does not simple reflect the dividends paid by the stocks held by the mutual fund . If you have any further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: What Does ASO Mean In Health Insurance?

Output: ASO means Administrative Services Only . A number of small and large companies partially self insure or self insure for their health insurance paying all claims up to a specfic dollar amount for each employee . They purchase stop loss insurance to cover large claims above a that specific dollar amount . ASO means that the insurance carrier is only providing administrative services and providing a PPO network for the company that is self-insuring . If your employer is self insured they are using a carrier or Third Part Administrator -LRB- TPA -RRB- to handle those services which is why it is ASO .


Input: When Can I Sign Up For Medicare D?

Output: If youre signing up with a Part D plan for the first time , you may do so in one of three different enrollment periods , depending on your circumstances : The initial enrollment period - If youre not yet in Medicare and have no other drug coverage thats creditable -LRB- considered as good as Medicares -RRB- , you can join a drug plan at any time during your seven-month initial Medicare enrollment period . This lasts from three months before to three months after the month you turn 65 -LRB- or , if youre younger with disabilities , the month you receive your 25th Social Security disability payment -RRB- . You can also use this IEP if you turned 65 while living abroad or in prison . It lasts from three months before to three months after the month of your return or release . The special enrollment period - Youre entitled to an SEP in certain circumstancesfor example , if you lose creditable drug coverage -LRB- such as from an employer or union -RRB- , or you turned 65 before moving abroad or going to prison and now want Part D coverage on your return or release . You do not have to request an SEP in these circumstances , but can just go ahead and sign up with a plan . This kind of SEP lasts 63 days and you must be receiving Part D coverage before it expires to avoid a late penalty . The annual open enrollment period If you miss your deadline for joining Part D during an IEP or an SEP , then you can not enroll in a drug plan until the next OEP . This enrollment period -LRB- which until the end of 2010 ran from November 15 to December 31 -RRB- now runs from October 15 to December 7 each year . You also have to wait for an OEP if you deliberately drop creditable drug coverage that you already have -LRB- for example , from an employer or union -RRB- . The OEP also serves as an annual opportunity for anybody already enrolled in Part D to switch from one plan to another .


Input: Does Medicare Advantage Replace Original Medicare?

Output: Medicare Advantage is a private system that is not anything like original Medicare . Providers file claims with your insurance carrier , not Medicare . If there is a dispute , you deal with the carrier , not Medicare -LRB- except in extreme situations -RRB- . If you enroll in an Advantage plan , make sure you understand how the plan works . Your out of pocket and out of network expenses can catch you by surprise if you are not cautious .


Input: Does Medicare Advantage Replace Original Medicare?

Output: When you take out a Medicare Advantage Plan you do not lose your rights and protections under Medicare . You are still in the Medicare system . The difference is that instead of Medicare acting as the insurer and paying the claims , that responsibility has been given to the private insurance company . Medicare pays the insurance company for each individual they enroll to manage the claims . So from the standpoint of replacing Medicare , as far as claim processing and administration the answer would be yes .


Input: How Old Can You Be To Receive Medicare?

Output: People are eligible for premium-free Medicare Part A when they turn 65 and have met the 40 quarters -LRB- 10 years -RRB- of working life/paying FICA taxes . Anyone who is eligible for premium-free Part A , can qualify for Part B - Part B requires premiums . Younger individuals with certain disabilities who have been entitled to social security disability benefits and those with end-stage renal disease , may also be eligible to receive Medicare benefits .


Input: What Is Medicare And What Does It Do?

Output: Medicare is a national WEBSITELINK program , administered by the WEBSITELINK since 1966 , that guarantees access to health insurance for Americans aged 65 and older who have worked and paid into the system , and younger people with disabilities as well as people with WEBSITELINK eand persons withALS .


Input: What Is Medicare And What Does It Do?

Output: Medicare is a federal government-run health insurance program for individuals age 65 and older -LRB- and those on disability or have end-stage renal disease who are under age 65 -RRB- . It 's made up of 4 parts : 1 -RRB- Medicare Part A - this is your hospital insurance 2 -RRB- Medicare Part B - this is your physician insurance 3 -RRB- Medicare Part C - also known as Medicare Advantage . This coverage is sold by private insurance companies and provides benefits equal to or greater than those provided by Medicare Part A and Part B . Some carriers offer prescription drug coverage with a Medicare Advantage plan 4 -RRB- Medicare Part D - this is your stand-alone prescription drug plan . This is also sold by private insurance companies and can be used with Medicare Parts A & B . Many individuals add a Medicare supplement plan to their Part A & B coverage to cover expenses Medicare does n't cover .


Input: What Is Viva Medicare?

Output: Viva is a health maintenance organization -LRB- HMO -RRB- that services many regions of the state of Alabama - they are owned by Triton Health Systems . 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: Does Owning A Dog Affect Homeowners Insurance?

Output: Yes , it can . It depends on the breed of dog that you have . Almost all insurance carriers have some restrictions on the dog breeds that they are willing to accept as part of a homeowners risk . If the dog has ever bitten or scratched someone that may also affect whether or not the carrier is willing to accept your homeas a risk with the dogs history . Please contact your local to find out if your carrier has any restrictions on dog breeds and what they may be .


Input: Does Owning A Dog Affect Homeowners Insurance?

Output: Most carriers yes it can affect the rates as the liability of the dog biting someone . Many carriers will have an exclusion for animal liability . Which in this case it would not increase your rates . In many cases Mutual insurance carriers can be lower as they are not always affected by things like Sandy and Katrina . I would recommend you talking to a local Independent agent and seeing if your carrier is the best option for you .


Input: Who Sells Term Life Insurance?

Output: Term life insurance is sold by agents who work alone from home or in a small office , agencies that employ several to many agents , online agents and agencies , mailers , and some life insurance companies that sell it direct to the consumer online . You can buy Term Life Insurance in many places . The key is to make sure you are medically qualified and getting the best price . To do that , it is best to go through an agent .


Input: Who Sells Term Life Insurance?

Output: There are literally hundreds of insurance companies that sell term life insurance . There are as many types of term policies and premium rates as there are life insurance companies . It can be a very confusing maze to get the right product at the best price for your unique situation . I recommend finding an experienced independent life insurance broker to professionally shop the market for you . Practically all of us offer free services and are compensated by the insurance carrier .


Input: Who Sells Term Life Insurance?

Output: In order to sell term life insurance in California an agent must hold a valid Life Insurance Agent license . That license is activated when an admitted life insurance company appoints that agent . That company becomes admitted when it meets the requirements for admission from the state insurance commissioner . Almost every life insurance company sells term insurance .


Input: Who Sells Term Life Insurance?

Output: Nearly every insurance company that sells any type of life insurance will sell term life insurance . The best way to purchase term life insurance is to find an independent life insurance agent in your area and have them find the company and policy type that will best suit your individual needs .


Input: Who Sells Term Life Insurance?

Output: When you are talking term insurance youre talking about temporary insurance . Although there are a lot of companies that sell term insurance , all terms are not created equal . Somethings to consider are : 1 . How long do you need the coverage ? 2 . Does the policy automatically renew itself and if it does what are the new rates going to be ? 3 . If things change can I reduce my coverage to lower my premium ? 4 . Can the policy be converted to a permanent policy without new underwriting ? When shopping for term always deal with an insurance broker that represents multiple companies .


Input: How To Find The Best Home Insurance?

Output: It is often said that buying a home is the most important purchase in one 's life . Not only is it a sizable investment , it is also the house that will become home for you and your family . So approach the purchase of Homeowners Insurance with the same care that you took in selecting your home . Look for a company that has been around a while and has solid financial ratings . A good resource can be your State Insurance Department because at least here in CT , they can provide some information about how various companies are rated . Some companies will be available through the independent agent market , while others are only available through exclusive agents . So choose the company and agent that makes you feel most comfortable and the product that is best suited to your unique needs . Finally , look to `` bundle '' your Homeowners with auto and do n't forget the Life Insurance to secure your family 's future . Not only will you be completely served by one Insurance Professional , you will also save money because of the discounts for combining your coverage .


Input: How To Find The Best Home Insurance?

Output: Home insurance is very important because it protects one of your most valuable assets yet most people spend very little time reviewing their options . There are several variables and companies to consider when purchasing Home insurance . The best way to shop for home insurance is through an independent agent . Why ? Independents agents have access to several different companies and they can explain the difference between each company and customize a policy based on your needs . They will also compare rates to make sure you are getting the best value for your money .


Input: Where Is The Cheapest Renters Insurance?

Output: There is not enough information here to answer this question with any certainty . Rates for renters insurance can vary greatly from carrier to carrier and area to area . There are many factors that go into determining the rate that you pay for the coverage that you are seeking . To find the best rate for the coverage that you are seeking within your area I would suggest calling a few local agents to find out about availability of coverage and pricing .


Input: Can Annuities Fail?

Output: Can annuities fail ? Yes , there is always that possibility and it has occurred on a small scale in the past . It is important to review the insurance company that you are considering buying from as you 're about to make a long term purchase and you need to see their books and see how they are doing . Nobody wants their insurance company to die before they do . Almost every state offers some protection from failures and you would have to check with your own state to see their rules and regulations for annuities sold in their state . You will have to check with your state office of the insurance commissioner for that information .


Input: Can Annuities Fail?

Output: Fixed and indexed annuities are only as solvent as the insurance company behind them . So review the ratings to make sure you feel financially comfortable with your company selection . Generally speaking fixed annuities offers a guaranteed interest rate over a fixed period of time and both those features are contractual guaranteed as long as you hold the contract until it matures . Variable annuities , although an insurance product , is also a security that uses separate sub accounts with access to equity and bond investments that can lose money .


Input: Does Renters Insurance Cover Items In Storage?

Output: The policy forms and endorsements will determine this . Quite often the typical renters policy may cover personal property -LRB- PP -RRB- anywhere in the world with exceptions and limitations . A thorough reading of the policy is the only true and accurate way to determine what perils are covered and how much coverage is available for PP off premises . Many carriers limit ` PP away from the residence premises ' to a specific percentage of the limit on Personal Property shown in the declarations . They may also limit the off premises coverage to a set amount like $ 2500.00 All this is set forth in the contract of insurance . There are about as many different contracts as there are insurancecompanies offering the coverage Always ask to see a specimen policy if possible . If you are meeting with an agent or broker ask to see the specimen policy and have the individual show you where this coverage is and what limitations or exclusions apply .


Input: Does Renters Insurance Cover Items In Storage?

Output: Personal property away from the residence is covered under most renters policies . The coverage is limited , though . It is frequent to see a limit of only 10 % of the insured value . One exception to this would be if the property was removed from the residence because it was in danger of loss -LRB- fire for example . -RRB- It is also covered for 90 days on most policies when you are moving from one unit to another .


Input: Does Renters Insurance Cover Power Surge Damage?

Output: There are some policies and policy endorsements that do provide coverage for a power surge under certain circumstances less your deductible . Please read your policy completely to what coverage is offered and what exclusions there may be or contact your local agent to have them go over the policy with you .


Input: Where Can I Find Mutual Fund Prices?

Output: You can find mutual fund prices in the business section of most major newspapers . In addition , the individual mutual funds often list prices on their web sites and some of the business / stock commentary web sites . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: How To Become A Medicare Supplement Agent?

Output: First , you would have to take the Life & Health agent insurance licensing course required in your state of residence . Then you would have to take and pass the state exam to become a licensed agent in your state of residence . Then you would need to get appointed with one or more health insurance companies who market Medicare supplement policies in your state . You will also need to familiarize yourself with the rules and regulations of Medicare itself and what it does and does not cover so that you can better advise individual senior citizens on the products that best meet their individual circumstances . If you are going to want to market Medicare Advantage products then there are even more demanding Federal and possibly state regulations that you must be aware of and abide by .


Input: Where To Get 401K Advice?

Output: The 401 -LRB- k -RRB- plan is administered by your employer . Frequently there will be a group of investment options . For advice on those options your employer can give you the name of the registered representative handling the program . For independent advice you can contact a registered investment advisor who will assist you for a fee .


Input: How Does Life Insurance Differ From Other Types Of Insurance?

Output: Life insurance pays when the insured person dies . This makes it different from other types of insurance that pay while the insured person is still alive . > Health insurance and Medicare insurance pay for preventative , diagnostic , and therapeutic medical care for the insured persons . > Disability pays insured persons a substantial percent of their income if they become disabled . > Long term care insurance pays for the services needed by the insured persons when they are unable to care for themselves . Persons insured by life insurance do not partake of the benefits of their own policies unless they borrow from the cash value in their policies , spend their dividends , or surrender their policies for the cash value in them . Life insurance is mainly to alleviate financial hardship for those affected by the death of the Insured .


Input: Where To Purchase Short Term Disability Insurance?

Output: Short Term Disability Insurance can only be purchased when offered by an employer in a group plan , or from only a couple of companies for a private plan . To purchase a private policy , you can contact an agency that sells Mutual of Omaha or Assurity products , as you will need to go through a broker to purchase a Short Term Disability policy .


Input: What Is The Highest Deductible For Homeowners Insurance?

Output: I suppose that there is a wide variety of answers to this question as most agents have access to a limited number of homeowners policies . Some homeowners policies offer a deductible that is a percentage of the coverage . That means that the higher the amount of coverage the greater the deductible . High deductibles significantly reduce the price of the policy and should always be considered .


Input: Does Life Insurance Cover Everything?

Output: Life insurance covers only one thing , death . Once the policy is two years old it covers every conceivable type of death in most states . In the first two years suicide can be contested . There are moves to allow insurance to address other interests , long term care being the most important . The idea is that when death is inevitable and will happen soon , can benefits be accelerated ?


Input: Does Life Insurance Cover Everything?

Output: If by everything you mean every cause of death then in most cases the answer is yes . There are a couple of exceptions . If you commit suicide in the first two years of the policy then you will not be covered . If you lied on the application and die within the first two years then you will not be covered . Some policies exclude act of war or death while committing a crime .


Input: Much Does It Cost To Add A Baby To Health Insurance?

Output: Most carriers require you to notify them of a newborn within 31 days of birth . If you go beyond that point they have the option of requiring medical evidence of insurability . If you are adding the child to a group health insurance plan your HR department can advise you . It could be anywhere from $ 100 to $ 300 per month . Adding a newborn to an individual plan is $ 100 and up . Ask your agent or existing carrier for a rate .


Input: Who Pays For Short Term Disability Insurance?

Output: Most commonly , employers pay for short term disability insurance . If employers do not pay for the premiums themselves , they sometimes offer the policy to employees to pay for out of employees ' pockets . If short term disability insurance is not offered through the employer , some people purchase short term disability insurance individually , from private companies .


Input: Can A Person Be Denied Health Insurance For A Pre-Existing Condition?

Output: Traditional Major Medical ? No ! Group medical ? No ! Short Term medical ? Yes ! Whether on or off-exchange , if you 're purchasing long term major medical health insurance -LSB- post 2014 -RSB- you can not be denied coverage due to pre existing medical conditions . However , many pre existing conditions will still be excluded from benefits , so make sure you are applying for a plan that suits your needs .


Input: Why Is Homeowners Insurance Required?

Output: Homeonwers insurance to best of my knowledge is not required by law within the United States . Your mortgage lender will normally require you to carry homeowners insurance in order to protect there investment . If you did not have homeowners insurance and were to experience a major loss this more than likelywould lessen your capacity to repay you debt to the lender and the property that was used as collateral would more than likely be lesser or non existant .


Input: Who Has The Best Medigap Plan?

Output: Medigap plans are standardized -LRB- there are 11 options total -RRB- meaning the benefits are EXACTLY the same , regardless of which carrier you purchase it through . Several of the major things to look at when shopping for a Medigap plan are the plan benefits -LRB- e.g. plan F , plan G , plan N , etc. -RRB- , the premium , and the premium rating method -LRB- community rated , attained-age rated , or issue-age rated -RRB- . If you want to have coverage that creates a predictable expense structure throughout the year , you will want to look at a plan F or a plan G . If you 're willing to take on a larger share of the risk of expenses to keep your premium down , you may want to consider a plan Hi-F , or a plan N. Most companies will use the attained-age rated -LRB- rates based on your current age -RRB- system such as Omaha , Anthem , CareFirst , Cigna , Humana , and many others . United Healthcare uses the community-rated -LRB- rates are not based on age -RRB- . There are a few carriers that will use the issue-age rated -LRB- rates based on age when plan is first purchased -RRB- as well such as Everence .


Input: Can You Cancel Universal Life Insurance?

Output: The owner of a universal life insurance policy can cancel the contract by filling out the surrender form of the issuing life insurance company . Be advised the coverage will also cease on the surrender date . If the universal life insurance policy has cash values , any gain in the contract or received by policy loans and/or internal policy loans will result in an ordinary income taxable event .


Input: Can I Put My Auto Insurance On Hold?

Output: The answer to your question varies from one company to the next . Companies handle it differently . Some will allow you to suspend coverage , others will not . Some companies might require a valid reason to suspend coverage -LRB- such as military deployment -RRB- . Some companies also offer `` storage '' status , in which all coverages are suspended except for comprehensive coverage . But again , you need to ask your agent or company about how they handle this because they all handle it differently .


Input: Can I Put My Auto Insurance On Hold?

Output: This will vary by company . Some insurance providers will let you put your autos in suspense meaning the policy would be reduced to physical damage only and can not be operated on the road . You would pay a minim premium on your auto while parked and the vehicle would still be covered in the event of a potential theft or fire for example . I recommend you discuss this with your agent .


Input: Can My Health Insurance Company Change My Policy?

Output: No , your carrier can not change your policy when they want to . The policy is a contract that states you receive coverage in exchange for the payment of premiums . The policy can lapse and subsequently be terminated by the carrier if you do n't pay your premiums -LRB- when the policy lapses , no coverage is provided -RRB- or if you falsify information on your application .


Input: Can You Get Life Insurance After Breast Cancer?

Output: Breast cancer has four stages . Depending on the stage , surgery performed and recovery management , i.e. regular checkups , etc. life insurance may be possible to obtain . Depending upon the history and current medical condition there are three possible avenues to explore based on what stage the cancer is in : fully underwritten , simplified issue or guaranteed issue .


Input: Can You Get Life Insurance After Breast Cancer?

Output: Yes , it is possible to get life insurance after breast cancer . If the cancer was in situ or stage 1 and able to be removed surgically , you may be able to get a medically underwritten policy after a year or so . For all stages of cancer , there are simplified issue policies that can be obtained a year or two after the last treatment . Contact a good impaired risk life insurance agent to go over your health details and find the best priced policy at this point in time , plus make a plan for getting lower priced coverage in the future .


Input: How Much Does Car Insurance Roughly Cost?

Output: I 'm in agreement with the previous answer . No one can give you a rough estimate on the cost of insurance because itvaries so much from person to person . However , if you can an agent or use an online quote engine , you will be able to find a rough estimate that is tailored to you . Keep in mind that the quotes you receive from an agent can change depending on your driving history as well .


Input: How Much Does Car Insurance Roughly Cost?

Output: In order to answer your question I have to know what make , model auto are you wanting to quote . How old are you ? Do you have any traffic violations . Are you the principal driver of the car ? Do you drive this car to work each day and how far ? Will the car be driven by other drivers ? related to you ? Will the car be used in your business ? There is a friendly agent sitting in a local office that would love to answer your question . Why not call him or her today ?


Input: Where Can I Get Car Insurance With No Deposit?

Output: If you ate adding a new car to an existing auto insurance policy , typically , you do not have to pay anything at that moment . Within about 7-10 days , you will receive an updated declarations page with a revised billing statement . Many insurers offer very low down payment options . Anexperiencedbroker can help you find the best options in your area by shopping for the best offers with the lowest down payments .


Input: Where Can I Get Car Insurance With No Deposit?

Output: All companies require money with the application . You will always need at least one month premium for a policy to go in force . Insurance is a contract and requires `` consideration '' or money to be in effect . Your agent could be in big trouble with the company if he provides coverage without collecting premium .


Input: Which Companies Offer Disability Insurance?

Output: There are several solid disability companies that serve the working community and executive compensation markets . Although this list is not exhaustive , to does represent some significant players in this space . Ameritas , Assurity , Fidelity Security , Illinois Mutual , Lloyds of London , Mass Mutual , Mutual of Omaha , Principle and The Standard .


Input: Does Homeowners Insurance Cover Water Damage In Bathroom?

Output: It depends upon the source of the water damage , the type of policy you have and whether the house is abandoned . To make this answer easier , lets assume that you have a Homeowners 3 policy and the house is either occupied or vacant -LRB- some furniture and presence -RRB- . Water damage from a burst pipe : typically your homeowners insurance will water damage from a burst pipe , however it will not cover the damaged pipe . You can get an endorsement to cover the damaged pipes . Water damage from rain/hail/wind : this will only be covered on a basic homeowners policy if the rain/hail caused the hole in the roof that lead to the water damage in your bathroom . Once again , you can get an endorsement to cover rain/hail/wind damage . Water damage from sewer backup or sump-pump failure : if the bathroom is in the basement and the water damage if from sewer backup or sump-pump failure you can only get coverage for this IF you have the appropriate endorsement - sewer and water backup . Please note that this is typically a sub-limit in your policy and goes towards both cleanup and replacement . I hope this helps .


Input: Will Health Insurance Pay For Botox For Migraines?

Output: The FDA has approved the use of Botox for treatment of migraine headaches but meaningful results have only been seen in persons experiencing an extremely high frequency of migraine events , we 're talking in the area of 15 days out of the month . So , FDA approval is not an automatic guarantee that your insurance carrier will immediately approve its use . And , let 's be realistic , Botox is a poison and does have the potential for serious side effects so its use should be more of a last resort than a first course of action . You should expect that precertification for the use of Botox will be required by your insurance company and that they will want to review extensive documentation of your medical history and treatment history before they will consider approving Botox treatment . Your odds of approval will be much higher if the request is coming from a neurologist or similar health care provider . A request coming from a cosmetic surgeon is going to be a red flag as that is more of an indicator that the patient is wanting the treatment for purposes of their appearance as much or more than for a valid medical purpose .


Input: What Does Irrevocable Mean In Life Insurance?

Output: Irrevocable means not able to be changed or reversed . When it applies to life insurance , it usually refers to an irrevocable life insurance trust -LRB- ILIT -RRB- set up for estate tax purposes . The owner of the policy is transferred to the ILIT , and the original owner is no longer allowed to make changes to the policy .


Input: Can You Get A Loan On A Term Life Insurance Policy?

Output: You can not get a loan ON a term life insurance policy , because term life does not have any cash value to borrow from . But you can get a loan WITH a term life insurance as collateral , with some lenders . Some lenders do n't care that your policy does n't have cash value , they just want to know that they would get paid if you passed away before your debt was settled .


Input: Can You Get A Loan On A Term Life Insurance Policy?

Output: Unfortunately , there is no cash value associated with a term life insurance policy and therefore there are no funds to borrow . Term life plans are meant to be temporary to cover a specific need for a specific time period . The only types of life insurance polices that accrue cash that can be loaned are the whole life , universal life , indexed universal life and variable universal life policies .


Input: Can You Get A Loan On A Term Life Insurance Policy?

Output: Unfortunately no , you can not get a loan on a term insurance policy . To be able to secure a loan on a life insurance policy , the policy has to have cash value to borrow against and only permanent insurance policies -LRB- universal life and whole life -RRB- build cash value . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: Can You Get A Loan On A Term Life Insurance Policy?

Output: No , you can not borrow from a standard term life policy . Standard term life policies do not accrue cash value , thus there is nothing to borrow against . If you are looking for a policy that will allow loans , you need to look at a form of permanent life insurance . Specifically , you should look at whole life or universal life . Get with an agent in your area to go over the options . Be sure to mention your objectives , such as the ability to borrow from the cash value . This way your agent can be sure to match you with the right policy for you .


Input: How Much Renters Insurance Do You Need?

Output: That is going to depend on your personal situation . The truth of the situation is that you can never have too much coverage when it comes to insurance . At minimum your insurance policy should provide enough coverage to provide you with enough money to replace all of your personal possesions in the event of a complete loss . Contact a local agent to them assist you in determination of the coverages that will work best in your situation .


Input: What Are Average Homeowners Insurance Rates?

Output: Average Homeowners Insurance Rates were $ 876 Nationwide in 2013 . This average figure is of no assistance when trying to assess each individual risk ; many carriers have a minimum annual premium of $ 300 and it is common for High Value Properties to pay an annual premium exceeding $ 10,000 . When one asks about Homeowners Insurance , it is common that he or she includes mobile homes , manufactured homes , rental homes , condos , townhomes and high value estate properties ; in fact , each of these different types of properties are written on a different form creating differentiating underwriting scenarios . There is a link providing an online format to obtain a quote and buy home insurance online in multiple States ; it may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: Does Medicare Cover Braces For Kids?

Output: Medicare only covers braces for those who are on Medicare . Body braces -LRB- not dental braces -RRB- are considered a type of durable medical equipment -LRB- DME -RRB- - this includes braces for your neck , arm , leg , and back . Medicare provides coverage for DMEs under Part B , generally about 80 % - you would be responsible for the other 20 % -LRB- a Medicare supplement policy can help pick up this expense -RRB- .


Input: Does Medicare Part B Pay For Shingles Vaccine?

Output: No , Medicare Part B does not pay for the shingles vaccine -LRB- Zostavax vaccine -RRB- . All Medicare Part D plans are required to pay for the shingles vaccine . Many physicians do not stock it , but can give you an order for the Zostavax vaccine that you can take to a pharmacy that will administer it for you . You will be responsible for the co-pay .


Input: Why Has Home Insurance Gone Up?

Output: There could be several reasons why your homeowners insurance has gone up . One could be the amount of coverage has increased due to rising costs of construction . One could be your home is getting older . If you had a newer home you were afforded discounts that may be diminishing . Did you have a claim would be another reason . Or it just could be losses in your area have increased and this effects the whole . I would review your policy with your agent to make sure you are maximizing all available discounts .


Input: Does Shopping For Auto Insurance Affect Your Credit Score?

Output: Insurance carriers pull what is called an Insurance Score , its a combination of factors a few of them being credit related . This is a soft pull and credit reporting agencies maintain that this does nto affect your credit score , in fact they claim that the inquiry is only visible to you when obtaining your personal credit report .


Input: How Do You Get The Best Deal On Term Life Insurance?

Output: To get the best deal on Term life insurance , you could start by looking at some quotes online , to get an idea of how they run . Then contact the website directly , or visit a local office , to find out how your health affects your life insurance rating . Keep in mind that some companies have more favorable guidelines for certain health conditions , so shopping several companies can be helpful . If you are using an online brokerage , they can do this shopping for you .


Input: How Do You Get The Best Deal On Term Life Insurance?

Output: Believe it or not , the best deal on term life insurance is NOT some quote engine that advertises on TV . Because an agent can only give you an indication of premium before underwriting , you best choice is always the agent , not the carrier . A good agent will have access to quality underwriting to ensure you get the best insurance for your objective .


Input: Does Long Term Disability Cover Medical Insurance?

Output: Long term disability and medical insurance are two completely different animals . Long term disability replaces a portion of your income during the time you are unable to work at your full time occupation due to a covered accident or illness . Claims payments are made directly to the insured . Medical insurance is designed to pay a portion of the medical bills derived from care you receive from doctors , hospitals , and other healthcare providers . Claims payments are made directly to the providers unless assigned elsewhere .


Input: Is Long Term Care Insurance Really Worth It?

Output: -- > -- > Normal 0 false false false EN-US JA X-NONE -- > -- > / * Style Definitions * / table.MsoNormalTable -LCB- mso-style-name : `` Table Normal '' ; mso-tstyle-rowband-size :0 ; mso-tstyle-colband-size :0 ; mso-style-noshow : yes ; mso-style-priority :99 ; mso-style-parent : '' '' ; mso-padding-alt :0 in 5.4 pt 0in 5.4 pt ; mso-para-margin :0 in ; mso-para-margin-bottom : .0001 pt ; mso-pagination : widow-orphan ; font-size :12.0 pt ; font-family : Cambria ; mso-ascii-font-family : Cambria ; mso-ascii-theme-font : minor-latin ; mso-hansi-font-family : Cambria ; mso-hansi-theme-font : minor-latin ; -RCB- Long-term care policies are based on the idea of a shared risk . If you dont use it , then it might appear to have been a waste . The people who have to use it will find that it pays out much more than they ever paid . If you dont buy the policy you accept the entire risk , if you never needed it , you appear to have won . If you need it and dont have it , then you have a problem that you are probably not ready to face .


Input: Is Long Term Care Insurance Really Worth It?

Output: The average person has a 1 in 4 chance of needing some type of long term care in his lifetime , either at a facility or at home . The cost of a Nursing Home on average is $ 7000 / per month , Assisted living $ 4000 per month , Home Health Care $ 20/hr . Someone will have to pay that bill . If you have assets then you will pay until your savings and assets are used up and then you may qualify for Medicaid . You tell me - is it worth it to protect you family from the burden of taking care of you when you can no longer care for yourself ? Do you want to lose everything you worked hard for all your life ? I have been a caregiver and as much as you love the person you are caring for , it takes a major toll on on the caregiver . Long Term Care insurance protects your family from these heartaches . Is it worth it ?


Input: Who Is The Brand Ambassador Of Aviva Life Insurance?

Output: In 2007 , Aviva India signed on Sachin Tendulkar as its brand ambassador . The company named a children 's life insurance policy `` Aviva Little Master '' in honor of the beloved cricketer . Aviva India is also offering some scholarships to children , and a chance to play cricket with Sachin Tendulkar , as part of its ventures with its brand ambassador .


Input: Will My Renters Insurance Cover My Engagement Ring?

Output: A tenants policy or renters policy covers personal property . Your engagement ring is personal property . A loss is adjusted by determining the current value of the loss or the replacement cost depending on the insurance form being used . The payment is then reduced by the deductible on the policy . In the case of jewelry there is also an internal maximum limit for jewelry in most policies .


Input: Will My Renters Insurance Cover My Engagement Ring?

Output: Much like homeowners insurance , renters insurance will provide some limited coverage for jewelry stemming from a covered loss . If the coverage amount is not enough within the policy you may have to schedule the ring to get the proper level of coverage . Please read your policy completely to know what coverage is offered and what exclusions there may be or contact your local agent to have them go over the policy with you .


Input: When Can I Get Medicare Part D?

Output: You can sign up for Medicare Part D when you first are enrolled in Medicare Part A and B . This is at age 65 , if you are receiving Social Security at age 65 . Or it can be at a younger age , if you have been receiving SSDI for two years or have ESRD or ALS . If you enrolled in Part B after Part A , in the open enrollment period , you can enroll in Part D from April 1 to June 30 .


Input: When Can I Get Medicare Part D?

Output: You have several options . 1 -RRB- a stand alone Part D plan . You can select this when you first enroll in Medicare . 2 -RRB- If you are not on a Medicare Advantage plan and have Part A and Part B you can select one during the Annual Enrollment Period every fall October through December . 3 -RRB- If you select a Medicare Advantage Plan look for one that includes a Part D Plan . This makes it easy as you have one company for all your needs and one card to use for both your Health Insurance and Rx .


Input: What Doctors Can I Go To Without Health Insurance?

Output: You can generally go to almost any doctor even if you do n't have health insurance , but their willingness to treat you will vary . You may be expected to pay for the visit up front or as you leave if you have no health insurance . If the situation is an Emergency you generally can not be denied care .


Input: Do I Need Extra Insurance To Cover Having A Friend Cut My Lawn Weekly?

Output: Is your friend in business as a `` yard man '' or landscape maintenance ? If so your friend needs to have liability insurance to cover any damage they may do to you or your property and their own health insurance to cover any injuries to them self . If it 's just a friend doing a favor for you you should check your homeowners insurance to see how much and what is covered in case of an accident . Or if you have an umbrella or property & casualty policy check to see what it will cover . In other words check what you already have before deciding if you need more .


Input: Do I Need Extra Insurance To Cover Having A Friend Cut My Lawn Weekly?

Output: In most California Home Owners policies there is workers compensation coverage for casual employees . If you and your friend have a contract , then your friend would be responsible for any work related injury suffered while cutting your grass . You can submit a claim for any injury sustained on your property . The amount covered will be limited by the policy . There are at least two other sources of coverage in the homeowners policy , the medical payments section and the legal liability section . The company will adjust the claim using these provisions .


Input: Will I Be Fined If I Don't Have Health Insurance?

Output: If you do not have the required/accepted health insurance coverage you will be subject to a penalty . For 2015 the penalty is the higher of either 2 % of annual household income or $ 325 per person over age 18 . For 2016 the penalty is the higher of either 2.5 % of annual household income or $ 695 per person over age 18 . There are maximum penalties for all methods listed as well as reduced penalties for each person under age 18 . Contact a experienced local agent for details ...


Input: Will I Be Fined If I Don't Have Health Insurance?

Output: If you do n't have the required type of health insurance , there is an Obamacare tax . Here 's an accurate short answer based on my 33 years of experience as a health insurance broker . The fine is a maximum of 1 % of household income or $ 95 per adult and $ 47.50 per child . These amounts increase each year . Do you have the right type of coverage to avoid the tax ? Allow an experienced broker to help you find out .


Input: Will I Be Fined If I Don't Have Health Insurance?

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


Input: Who Needs Disability Insurance?

Output: Anyone who values their paycheck should get Disability Insurance . If you were to become disabled due to asicknessor injury , DI would pay a percentage of your income -LRB- about 60-65 % -RRB- while you are unable to work . Considering the average American only has 90 days of cash reserves , yet the average disability lasts 31.2 months , it 's important to be protected .


Input: Who Needs Disability Insurance?

Output: We insure and protect our homes , our automobiles & our other personal property . One of the greatest assets that we sometime fail to protect is our ability to earn a living or our income . The purpose of disability is to protect your income in the event of an unexpected and unforeseen accident or sickness . The question should be asked , if we have a sickness or accident will I still be able to live comfortably without my income ?


Input: What Is A Market Value Adjustment On A Fixed Annuity?

Output: A market value adjustment is an adjustment that may apply to the value of your annuity . It can be positive or negative . The amount of the adjustment is determined by a mathematical formula based on the difference between the interest rate when the annuity started and when it was surrendered . If rates are higher , your value will be decreased . If rates are lower , your value will be increased by the market value adjustment . The specifics should be outlined in your annuity contract . If not , they will be available from the issuer . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: What Does Whole Life Mean In Insurance?

Output: Whole Life means life insurance that lasts the person 's `` whole life '' . It is a form of permanent life insurance that puts part of the premium toward pure insurance protection , and part of the premium into an accumulated cash value . If paid on time and loans are repaid , the policy will stay in effect until death at any age , or the face amount can be taken when the policy endows -LRB- usually at age 100 -RRB- .


Input: How Many People Use Disability Insurance?

Output: Outside of group disability benefit plans at work , individuals owning disability insurance is shockingly small when compared to the staggering statistical odds of a disability occurring once in your working lifetime causing you to be disabled an average of 30 months . Who has enough savings in this economy to cover that ? Not many !


Input: Can I Deduct Homeowners Insurance On A Rental Property?

Output: Landlords Insurance also known as Dwelling Fire Insurance can be deducted on your income taxes against rental income . Homeowners Insurance would be the incorrect policy form for a tenant occupied property ; please be very cautious not to be insured by the incorrect form of insurance . Each policy form is a legal contract inclusive of specific definitions setting the rules of coverage . A homeowners policy is to protect the insured home as the primary residence of the titled owner ; if this is not the case and you have a rental home , it should be covered by a Tenant Occupied Landlord Package policy and sometimes known as a Dwelling Fire policy . We provide an online format to obtain a quote and buyinsurance online in multiple States ; may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: Is Auto Insurance Federal Or State Law?

Output: Generally speaking the federal government has little jurisdiction over the use of automobiles . States set insurance requirements and their insurance commissioners supervise the activities of the companies admitted to do business within the state . There is increasing pressure for the federal government to take a more active role in car insurance but changes are not anticipated .


Input: Will Long Term Care Insurance Pay For Assisted Living?

Output: Yes , many Long Term Care Insurance policies will pay for assisted living costs . They may even pay for custodial care at home if you get a policy that specifies that . Contact a good LTC agent and review all the benefits to be sure that you are getting a Long Term Care policy that can be used for costs beyond just nursing home expenses .


Input: How Much Is Health Insurance Out Of Pocket?

Output: This depends on a number of factors in your plan including , your premium is , your deductible , coinsurance , copayments , maximum out-of-pocket - these amounts will vary by plan so you want to make sure of what you have and that it 's a plan that is suitable to your needs and budget . It 's not always best to just buy what 's cheapest or the most comprehensive . There are many moving parts to health insurance and it 's always helpful to consult with an experienced broker to make sure that the plan you have/want to apply for is going to best serve your needs . Please let me know if I can be of further assistance . Thanks very much .


Input: Can My Company Pay For My Life Insurance?

Output: Your company can pay for your life insurance , but if they provide more than $ 50.000 of coverage , you will be taxed on the cost of the premium for the portion above $ 50,000 . Example : Your company pays $ 1,500 a year to provide you with $ 100,000 of life insurance . Since they are paying for $ 50,000 more coverage than allowed , you will have to pay taxes on 1/2 half of the premium , or $ 750 . If you are in the 25 % tax bracket , you would be paying $ 187.50 in taxes .


Input: Can My Company Pay For My Life Insurance?

Output: The answer here is yes , they can pay for your life insurance . The thing to keep in mind is that Uncle Sam is watching . This is a question of taxation , not payment . Then , it really depends on how that arrangement is set up . Someone is going to pay the tax on your compensation , whether it 's premiums or benefits . There are different ways this happens depending on whether you 're an owner or not and what the purpose of the insurance is . If this is insurance that 's included with your benefits and it 's offered to everyone the same way , it 's treated differently than if it 's an executive benefit only offered to high level employees or owners . There are certain amounts that employers are can offer their employees with no tax consequences to you . It depends on your individual classification . If this is an executive benefit and the premiums are not taxed , there 's a possibility the death benefit could be taxable . As much as I 'd like to give an all encompassing answer , I ca n't . This is more a specific question for the company or your CPA . Ask the question . It 's much better to find out before something unintended happens .


Input: Can My Company Pay For My Life Insurance?

Output: It is important to remember that the `` insurance you are buying at your employer is `` term insurance '' . If you are a '' family man '' how far will $ 50,000 go if yuo are deceased . The point is every time you buy a life insurance policy you are paying the `` administrative costs '' associated with that policy . Instead of having multiple companies that your wife will have to provide proof of death claims forms is it going to easier on her and cheaper on yuo to have a `` life insurance needs analysis '' and provide that level of coverage with a policy that is designed to stay with you through the life of the children and to meet yuor burial expense needs ?


Input: What Does A 20 Year Term Life Insurance Policy Mean?

Output: Not all 20 year term policies mean the same thing . My company offered a 20 year non-renewable term policy which meant that the company would pay a death benefit to the beneficiary if the insured died during the precise 20 year period covered by the policy . The premium on that policy would remain level throughout the 20 year period . No benefits existed after the policy terminated . Today they offer a 20 year term policy that provides the same death benefit as before and the premiums remain the same as before , however , the policy can be renewed after the 20th year and for many years after that . The policy will terminate at which time coverage can not be renewed . The premium after the first 20 years is considerably more expensive than in the first twenty years . My company also offers Cash Value Term which for a slightly higher initial premium develops cash value . It works much like the other 20 year term policies except that at the conclusion of the 20 year period there are a variety of options that allow the policy to remain in force for a lower premium or select a permanent , reduced death benefit .


Input: What Does A 20 Year Term Life Insurance Policy Mean?

Output: If you have a 20-year level term policy and the premium is $ 400 per year for example , at the 21st year you COULD keep it but the premium would be around $ 3,000 per year . And if you keep it a year after that it would be $ 3,500 per year . It would keep going way up . The idea behind level term insurance is to buy the length of time that you need to be insured . For most people that is when they reach retirement age and the kids are on their own . Then your insurance runs out and you do n't need a big policy anymore . The most common misconception about level term insurance is that many people think they will have a paid up policy in 20-years . That is completely wrong .


Input: What Does A 20 Year Term Life Insurance Policy Mean?

Output: In most cases it applies to the period of time where the premium is level -LRB- the same -RRB- in cost . Most term policies are designed to run longer than their level term period but at a higher price that increases every year after the level premium period ends . So with this question a 20 year term life policy would most likely be a flat level premium for 20 years , then an increasing premium there after if the insured wants to continue the policy .


Input: What Does A 20 Year Term Life Insurance Policy Mean?

Output: There is also a 20 -LRB- and 30 -RRB- year term policy that has a couple more built in options at the end of the term period . With most 20 yr term plans your only options are pay the huge increase in premium , convert to a higher priced plan , or just walk away and try to qualify for a new plan , health permitting . Most term plans have zero cash values . Another option is a term plan called Return Of Premium -LRB- ROP -RRB- . With ROP you may have an option to get all your premiums back at the end of the level period . Example would be an annual premium of $ 700 . would return $ 14,000.00 at the end of 20 years . Another important option with ROP Term would be a reduced paid up Life Insurance plan . Using the same example , instead of taking the $ 14,000 you take a $ 25,000.00 paid up policy , regardless of your health . The premium is higher for ROP , but would be much lower than regular term over the 20 year period . What is the right plan for you ? A good agent will show you the options .


Input: Does Medicare Cover Pneumonia Shots?

Output: Yes , Medicare does cover pneumococcal shots under Medicare Part B medical insurance . It 's always good to discuss with your health provider if you do need the shot since most individuals only need the shot once in their lifetime . You pay nothing if your health provider accepts payment in full from Medicare .


Input: Is Geico The Cheapest Auto Insurance?

Output: Geico is often the cheapest auto insurance company available in your area . But not every time . There are many reputable , reliable and highly-rated carriers that offer very low rates in a given area . It may be Esurance , Allstate , Liberty Mutual or other companies that save you the most money . An experienced broker will help you -LRB- at no cost -RRB- find the cheapest rates and show you the most appropriate coverage you should have .


Input: What Are The Penalties For Driving Without Auto Insurance?

Output: The first penalty is that you more than likely would not be able to register your car for use on public roads . Most States require car insurance in order to do that . If you had car insurance but let it lapse , or cancel it , the Insurance Company in many states like Connecticut , will notify the Department of Motor Vechicles -LRB- DMV -RRB- . They will contact you and require you to show proof of coverage . If you can not , they will suspend your registration andit will be illigal to drive your car -LRB- s -RRB- . If you do drive and are stopped by a police officer , along with the charge for which you have been stopped , you will also be found to be driving an unregistered and uninsured car which will add to the size of your fine . In many cases the car will be towed and impounded and you will have to find another means of transportation back home , for which you may have to pay . You may also be required to appear in court . Once that is behind you , in order to get your car back , you will have to show proof that you have bought insurance again . It will be more expensive now because of the violations and the fact that you have not had continuous coverage . You will also have to pay to have the car releassed from the impound facility . You will have lost considerable time from work for all of this meaning that on top of having to shell out more money , you will have lost pay . Bottom line ... do n't drive without insurance .


Input: Is Disability Insurance The Same As Workers Compensation?

Output: No , they are not the same . Workers compensation will not cover you if you get hurt outside of work , or if you suffer from an illness that was not caused by your work surroundings . Disability Insurance would protect your income if you broke your leg skiing -LRB- outside of work -RRB- , got in a car crash , got cancer , etc. .


Input: Is Disability Insurance The Same As Workers Compensation?

Output: The general distinction between workman 's compensation and disability insurance is workman 's compensation pays for injuries on the job during working hours whereas disability insurance pays for injuries and sickness regardless of when and where it takes place . That distinction should be carefully understood when considering the purchase of disability insurance .


Input: Is Disability Insurance The Same As Workers Compensation?

Output: Workers compensation is a plan of insurance carried by your employer . It provides benefits that are prescribed by law and are specifically for injuries or illness that arises from the work place . Disability income insurance is designed to replace income when you are injured by sickness or accident and unable to perform your job that is not the result of a claim covered by workers comp .


Input: Is Disability Insurance The Same As Workers Compensation?

Output: Absolutely not ! Workers Compensation is a state insurance required to protect workers in the event of on the job accident or workplace induced illness . So , your recreational weekend motorcycle accident would n't be covered . Workers Compensation coverage levels vary from state to state and how lost income is addressed varies accordingly . Suffice it to say , if it is possible to fit into your financial plan , purchasing disability insurance to protect your income stream in the event of serious illness or injury , regardless of source , then Short and/or Long Term Disability insurance policies are a wise precaution .


Input: What Should Homeowners Insurance Include?

Output: Homeowners Insurance typically includes coverage for your actual home -LRB- the Dwelling Coverage -RRB- , coverage for separate structures -LRB- such as detached garage or shed -RRB- , coverage for your belongings -LRB- both the items inside your home , as well as items that may be outside of the home -RRB- , liability protection -LRB- coverage that protects you if you are sued -RRB- , and medical payment coverage -LRB- an amount thatcan paid to someone that is injured on your property -RRB- . These 5 items are usually included in any homeowners policy -LRB- renters and landlord policies have variations of these -RRB- . However , some insurance companies also include some extras at no additional cost . For instance , Farmers Insurance includes an extended coverage of 125 % of the dwelling coverage . This means that if the cost to rebuild the home exceeds the amount of dwelling coverage , Farmers Insurance will cover an extra 25 % over and above the dwelling coverage . Farmers Insurance also includes ID theft protection , and a few other extras .


Input: Can I Get Life Insurance Even Though I Have Cancer?

Output: There is one type of life insurance that you can get while having any type of cancer , and that is called Guaranteed Life Insurance . It is not available at every age , and it is graded for 2 or more years . But it does not have any health requirements . You can also purchase pre-need policies at a funeral home while having cancer . With those , the graded period is usually one year . If your cancer was caught in the early stages and has a good prognosis , you should be able to get a policy other than guaranteed issue about a year or two after the last treatment . Some types of policies will add a flat extra that drops off after a few years . Others add table ratings to the policy . It all depends on the type of cancer , the stage , how well it responded to treatment , how long ago you were diagnosed and last treated , and whether your cancer recurred or not . Finding life insurance for persons with cancer can be complicated . Contacting an impaired risk life insurance specialist is helpful to find your best rate .


Input: What Is A Qualified Retirement Plan To IRS?

Output: The IRS has sanctioned many types of retirement plans under the Internal Revenue Code . Those plans are given special tax treatment through the contributions made to those plans . There are many qualified plans that allow contribution tax deductions for plan participants . Plans such as 401 -LRB- k -RRB- s , 403 -LRB- b -RRB- s , 412 -LRB- e -RRB- , SEPs and IRAs .


Input: How Can I Find An Old Life Insurance Policy?

Output: Sometimes life insurance policies get lost . If you have something with the name of the company , you can call the company and give them as much information as you can about the insured , social security number is very helpful , often they can find the policy in there files and send a duplicate . If you have the policy number then that is even better . If the company has been purchased by another company you may have to do some research or call the department of insurance to find out who purchased the company .


Input: What Is Government Approved Health Insurance?

Output: I presume that your question regards health insurance that meets the requirements of the Affordable Care Act -LRB- ObamaCare -RRB- and that will allow such a policyholder to not be subject to the tax penalty associated with the individual mandate provisions of the law . To meet these requirements an individual or group major medical insurance plan -LRB- unless it is a grandfathered policy -RRB- must cover the Minimum Essential Benefits required under the Affordable Care Act -LRB- ACA -RRB- . It would take too much space to list them in this answer . However , some high points are that fully insured major medical plans sold after January 1 , 2014 ca n't decline a person for coverage , ca n't apply pre-existing condition exclusions or limitations and must cover pre-existing conditions immediately , an expanded range of preventive health care services must be covered at 100 % with no cost sharing by the subscriber , maternity must be covered as any other illness -LRB- this is a major change in the individual insurance marketplace in most states -RRB- , it can not have an out-of-pocket maximum exceeding $ 6350 and there can be no lifetime maximums on coverage . Any plan that does n't cover the Minimum Essential Benefits does not qualify as major medical coverage under the terms of the ACA . Some good examples would be Short Term Medical insurance policies and limited benefit plans -LRB- these plans generally pay a fixed amount per day that someone is in the hospital or a fixed amount for a doctor visit regardless of total expenses incurred -RRB- . Persons covered under such plans in 2014 will find themselves subject to a tax penalty of $ 95 per person or 1 % of their Modified Adjusted Gross Income when they file their 2014 taxes in 2015 . This tax penalty will increase in subsequent years .


Input: How Much Does Medicare Cover For A Hospital Stay?

Output: Medicare Part A covers inpatient hospitalizations . Once you satisfy the per admission deductible -LRB- $ 1184 in 2013 -RRB- Medicare covers essentially all of your routine inpatient charges . If you are discharged and then readmitted within 30 days for the SAME medical condition you are not charged a new Part A deductible . Keep in mind Medicare only covers charges that are medically necessary . They will pay for a semi-private room , ICU and in some cases a private room when it is prescribed by a doctor for medical reasons . Following satisfaction of your hospital deductible , Medicare covers charges for the first 60 consecutive days . If your hospital stay is continuous for 60 days you are required to pay a per day copay of $ 296 -LRB- in 2013 -RRB- , then $ 592 per day -LRB- in 2013 -RRB- for days 91 - 150 .


Input: What Is Life Insurance And How Much Should I Get?

Output: Life insurance is basically a monetary stand in when you pass away . It can be as simple as having money for your family to help pay the bills with you gone or something complex as a part of an estate plan . The two basic types of life insurance is temporary -LRB- term insurance -RRB- or permanent insurance -LRB- whole life , universal -RRB- . Which one applies to you is something one should talk with a licensed insurance agent . Every person has different needs at different stages of their life . Life insurance should be tailored and reviewed at intervals to meet these needs . The best persons to answer how much life insurance you need is you and your agent .


Input: What Is Life Insurance And How Much Should I Get?

Output: There are two basic kinds of life insurance : term insurance and cash value insurance.Term insurance generally has lower premiums in the early years , but does not buildup cash values that you can us in the future.You may combine cash value life insurance with term insurance for the period of your greatestneedforlife insruance to replace income . As far as for how much to get . That is going to depend on many factors . Too many to list here . I would recommend contacting a local agent to have them help educate you on the types of policies available and what might best fit your needs and concerns


Input: Does AAA Offer Auto Insurance?

Output: Yes , AAA is one of many insurance companies that specializes with car insurance . As with ALL types of insurance , get rates from dozens of companies and compare them . An insurance broker makes this very easy . If you have a large rate increase in the future , it 's time to rate shop again .


Input: Does AAA Offer Auto Insurance?

Output: In Northern California AAA offers road side assistance , travel services and discounts . Their offices routinely house insurance agents who offer home and auto insurance from affiliated insurance companies . Marketing is directed at club members when they come into the office or respond to advertisements sent with billing notices and other forms of communication . Pricing can vary as the affiliated companies must comply with state laws which in general restrict premiums and require that the company maintain adequate reserves -LRB- cash on hand -RRB- to satisfy the promises made by the companies .


Input: Is Life Insurance Required By Law?

Output: Based on my limited experience within my geographic location , life insurance is not required by law . Life insurance is something that everyone should have though . If you can you should purchase a policy when you are young . The younger you are typically the lower your premium . Please contact a local agent to find out about availability and pricing within your area .


Input: Is Life Insurance Required By Law?

Output: Life Insurance can be part of a court order in a divorce situation , or loan agencies may require that you have life insurance in order to get a loan . But for the average US citizen , life insurance is not required by law . Obamacare opened a door when it made it illegal to not own health insurance . But that does not extend to the realm of life insurance .


Input: Is Life Insurance Required By Law?

Output: Life insurance unlike health insurance is not required by law . There are scenarios where life insurance can be required such as a loan institution requiring you to carry a life insurance policy large enough to cover the debt in case of death . There are scenarios in court cases such as a divorce where life insurance is court ordered to cover alimony or child support . But over all unlike health insurance on the federal side of the law and car insurance on the state side of the law , life insurance is not required by law .


Input: How To Buy Other Peoples Life Insurance Policies?

Output: Buying an existing life insurance policy on another person , presumably a stranger , in order to pay the premiums and then collect the eventual death benefit is called `` life settlement . '' This kind of investment is very risky and highly regulated in most states because it requires the investor to assess and then calculate how long somebody has to live and requires the investor to have enough money to pay the premium until that happens . For this reason , professional investors tend to pool their money so that they can buy many policies to spread the risk . In a way , this is a bet against modern medicine . On top of that , you have to wonder why somebody who has 10 or less years to live would not keep their policy so that their own family could reap the rewards , so all such investors have the risk that the person you are insuring is not as sick as they claim . Typically , life settlement investments are highly regulated and made available only to high net worth individuals who , through a prospectus describing the risks , are able to hold such an investment for many years , perhaps decades . I own shares of stock in a small public company called Imperial Holdings Inc. -LRB- IFT -RRB- and they own several hundred life insurance policies that will eventually payoff , however , huge premiums must be paid every year in order to keep those in force , so it 's risky .


Input: How To Buy Other Peoples Life Insurance Policies?

Output: Great question ! Let 's start off first with a couple of important basics . You have to have what the insurance company calls `` an insurable interest '' in the person that you want the policy for . That means that if that person were to pass away , you would suffer some form of measurable loss . For example , if your spouse were to pass away , you would be left with less income , and more hardship . You can buy insurance for your spouse . The guy down the street that you see once in a while , you would suffer no loss from , so you would not be able to purchase a policy for him . You also need that person 's cooperation and consent . They will be required to sign the application , and must be aware and understanding of what is happening , and in agreement . I would recommend that if you are n't familiar with the process , that you find a good agent and walk through the process completely first , as there are a lot of different products out there to choose from , and not all will be good fits for you . If you would like some help , I 'd be happy to , just contact me . Thanks for asking !


Input: What Does Level Premium Period Mean Life Insurance?

Output: Level Premium Life Insurance is term life insurance that is guaranteed to stay the same price for the entire term . Some term policies are advertised as level premium , but the policy is only guaranteed to stay level for part of the term . There are term policies that can have a level premium period of 30 years or more .


Input: What Does Level Premium Period Mean Life Insurance?

Output: The level premium period applies to term insurance because whole-life and many universal life policies offer a level premium for your entire lifetime . Term life insurance has premiums that go up and get more expensive every year . Most people that buy term pay extra for a level premium for a certain period . That way you can keep the premium affordable for 20-years or so and usually you cancel the policy after that period of time because it will be way more expensive if you try to continue it after that .


Input: What Dog Breeds Raise Homeowners Insurance?

Output: Most companies do not charge extra for any dog breads and yes some companies will not cover -LRB- accept -RRB- certain dog breads and you may want to check with your agent to see what the exclusions are . Some companies do n't mind any dog breed such as Farmers we do not care about the breed as long as it has not bitten anyone and if it has we will ask for an exclusion and will not cover the dog under your home owners . We also have pet insurance .


Input: What Dog Breeds Raise Homeowners Insurance?

Output: Normally , you do not see an increase in premiums for particular breeds of dogs . It becomes an issue of whether or not your application is `` acceptable '' to the insurance company . There are usually two questions asked on an application for homeowners insurance - if you own any pets ... if so , what type and breed . Some breeds , i.e. pit bulls , are an automatic decline .


Input: Can You Get Renters Insurance On An Illegal Apartment?

Output: A renters policy does not provide coverage for the residence . It only covers the personal property of the insured . There arent any questions on the application about the legal status of the apartment . It just has to have an address . The coverage is for what you own , not what the landlord owns .


Input: Can You Get Renters Insurance On An Illegal Apartment?

Output: Great question ! A better one would be why would you want to risk living in one ? In almost every case , if an insurance company finds that there were laws being broken in the event that causes the claim to be filed , they will delay , or deny the claim pending an investigation of the circumstances . If it turns out you were living at great risk for a claim in an apartment that you should n't legally have been in , I 'd expect them to be slow to pay , and quick to deny . Please rethink your idea of living there , okay ? Thanks for asking !


Input: When Can I Access My Roth 401K?

Output: That is a great question ! With any retirement vehicle , the design is for the money to remain in the account for as long as possible , to provide the best chance for supporting your retirement . That said , there are times when cash is needed for emergencies . That 's where having a Roth comes in handy . The IRS requires a penalty if you 're taking your withdrawal before the age of 59 1/2 , unless what you take out is less than the amount you 've contributed to it . For example : You 've paid into your Roth $ 55,000 over the years . It has a value of well over that amount . If your withdrawal is say $ 50,000 , you would most likely not pay the 10 % penalty , or taxes , especially if the money is to be used for a home , school expenses , or catastrophic medical expenses . If you were to withdraw over that $ 55,000 amount , you may have taxes and penalties to worry about , especially if the withdrawal is not for the reasons I mentioned . Other than the 5 year , 59 1/2 rules , there really is no forced time to have to start taking withdrawals , which makes this an exceptionally good retirement vehicle - wait on this one until the others have been run low . I hope that helps , thanks for asking !