Input: What Could Happen If I Drive Without Car Insurance?

Output: If you live in a state that requires auto insurance you could be ticketed , fined , and possibly have your license suspended or revoked depending on your mvr history . Worse yet is the thought that you are involved in an accident now you possibly incure the previous along with being financially responsible for an damages that you caused . This could devestate you and your family financially for the rest of your lives . Contact your local agent to get coverage today , do n't risk it .


Input: What Could Happen If I Drive Without Car Insurance?

Output: Every state is different , but if you are caught driving your car without insurance in Connecticut , there could be consequences for sure . Presumably you would have been pulled over for something else . So you would be issued a ticket for that AND for driving without insurance . If you are not able to prove coverage to the court or DMV , you would face a serious fine , your registration would be suspended and perhaps your license as well . If you are found to be driving without insurance and have just caused an accident , please keep in mind the following : `` Insurance only provides coverage , it does not limit liability '' .


Input: What Could Happen If I Drive Without Car Insurance?

Output: In addition to losing your license and visiting your local jail , you could subject yourself to financial ruin by not carrying auto insurance . The primary purpose of auto insurance is to protect yourself and others in the event of an accident . The vehicle itself should really be the least of your concerns . Dependent upon the circumstances , auto insurance could provide you coverage for injuries sustained by you . your passengers and others involved in the accident . Additionally , auto insurance could provide you with legal defense in the event you are sued . These are only some of the consequences you could face by not carrying adequate auto insurance . That 's why it is important to have an agent you can trust where you can sit down to discuss how to best protect yourself .


Input: What Could Happen If I Drive Without Car Insurance?

Output: Driving without car insurance can have both legal and financial impacts upon your life . Caveat , this is geared towards Michigan drivers . Financially : if you get into a collision and are negligent , you could be sued for physical damages to the other driver/passengers . Without insurance you will be on the hook for the entire judgment against you . Furthermore , if you are driving a new car you will either be out the money you spent on the car , or you will owe the leasing company or lender the value of the car . Legal : in Michigan driving without proof of no-fault insurance can result in a $ 500 ticket and three points on your license . So you will be out $ 500 immediately , and a huge increase in your insurance upon renewal . This is assuming you will still have the same insurance and not get a non-renewal notice . I hope this helps .


Input: What Could Happen If I Drive Without Car Insurance?

Output: In almost all states within the United States , if you are pulled over by the police and found to not have any auto insurance coverage you will be fined , possibly have your license suspended or revokedand possibly receive jail time . Please remember every state set its own regulations for auto insurance . To find out your states regulations for auto insurance , I would recommend contacting the department of motor vehicles or your state 's commisioner of insurance office .


Input: What Could Happen If I Drive Without Car Insurance?

Output: Most states require vehicles that are registered for road use to be insured ; likewise , most states require that if a person is driving a vehicle , that they have insurance as well . Thetype of insurance that most states require you to have is liability coverage . Liability coverage is also referred to as third-party insurance . Liability insurance really does n't do anything for you ; rather , it provides coverage for injury/damage that another partyincurs that you are responsible -LRB- liable -RRB- for . If you are driving and you do n't have the state required insurance , there are several things that can happen to you . You can get cited for a violation for not having insurance andyour vehicle can get towed . If you are involved in an accident and you do not have insurance , there can be problems even if the accident is not your fault . If the accident is your fault , then there can be a lot of issues . In addition to getting cited and having your vehicle towed , you can be sued by the party you injured for their damages -LRB- damages can include property damage as well as medical expenses -RRB- . We 've had some clients that were responsible for an accident that at the time did not have auto insurance ; in addition to some of the problems listed above , they were sued and that resulted ina lien being placed on their home . Insurance laws and regulations vary from state to state , and also vary based on if you have a lien -LRB- note -RRB- on your car . I suggest contacting your professional insurance agent to review your situation to make certain youremain `` legal '' in the eyes of your state and help eliminate any potential problems that can arise .


Input: What Could Happen If I Drive Without Car Insurance?

Output: First and foremost , if you are involved in an accident that you are deemed responsible for then you would have to pay out of your own pocket for all vehicle damage , property damage , bodily injuries , and any other expenses associated with the accident . You could also be fined by police for not having insurance and depending on the circumstances you could possible have your license revoked or suspended .


Input: What Could Happen If I Drive Without Car Insurance?

Output: If your state requires you to carry liability insurance or financial responsibility then in order to comply with the law while operating a motor vehicle . Most states are different in the laws and the amount of coverage you must maintain to legally operate a motor vehicle . You can be subject to jail time , SR-22 , inflated rates for a periodofup to 5 years , financial ruin for you and your family and possibly the individual/s if you have an accident and you do not have any or enough insurance to pay for thier property or bodily injury . Find yourself a local agent and find out the options for you . There are many companies that specialize in just about any persons scenerio or stage of life .


Input: Who Sells Long Term Care Insurance In Missouri?

Output: To find who sells long term care insurance in Missouri , you can put in those words on an internet search engine , and a number of good choices will come up in your search results . There are Long Term Care brokers , or else agencies that sell Health or Life insurance also can be contacted to see if they sell Long Term Care Insurance . Many of the contributors to this website sell LTCI , including our agency , and would be happy to assist you .


Input: What Car Insurance Group Is The Cheapest?

Output: Insurance companies do not rate based on groups . Several rating factors are used to determine a rate including credit , claim history , driving history , type of vehicle , age , number of policies with the same insurance company and more . Teenage drivers typically pay the highest car insurance premiums but so do drivers with poor credit and bad driving record .


Input: How Do I Get A Life Insurance License In Pennsylvania?

Output: To get a resident life insurance license in Pennsylvania , you must have a home or office in Pennsylvania , be of good character , be able to read and write and English , and pass the insurance exam . There is a prerequisite of 24 hours of pre-licensing testing , including 3 hours of ethics .


Input: How Do I Get A Life Insurance License In Pennsylvania?

Output: In order to get a life insurance license in Pennsylvania you must complete any pre-licensing requirements and then take and pass the state insurance licensing exam . Once you have passed the exam the state will issue your resident producer 's license . You will also be subject to a background check before the state will issue your license .


Input: How Do I Get A Life Insurance License In Pennsylvania?

Output: To get a license all you need to do is sign up for a PA approved course of insurance study - these can be real courses or virtual online courses that you can take in the comfort of your home . When the course is completed you will need to pass an exam in order to receive a certificate of completion . The final step is to sign up to take the state exam in a monitored classroom . If you pass the test - you can apply for your license . Take your time studying the life material . There is a lot to learn and can be very confusing if you rush through it . In my opinion it is the hardest test in insurance . Best of luck !


Input: How Do I Get A Life Insurance License In Pennsylvania?

Output: To get a life insurance license in Pennsylvania , you must pass a test after a course of study . There will be some fees to pay in order to get your license , as well . From then on you will need to take continuing education to renew it . If you are going to handle variable products , you must also get some securities licenses .


Input: How To Find If Someone Has Homeowners Insurance?

Output: It may be difficult to find out if someone has homeowner 's insurance on their property . It 's personal information that is not available to you . However , if there is an existing mortgage on a property , there is a very good chance that their is current homeowner 's insurance in effect since the loan company would certainly require it .


Input: Who Is Reliastar Life Insurance Company?

Output: ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York are affiliates of ING U.S. ING Life Companies offer Term Life , Whole Life , Universal Life , Survivorship Universal Life , Indexed Universal Life , and Variable Universal Life insurance through ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York .


Input: Is Medicare Primary Or Secondary Insurance?

Output: If you do not have group coverage or you work for a small employer then Medicare is primary and any other insurance is secondary . Larger employers group coverage would be primary and Medicare secondary . The cut off is 20 employees . More than 20 , group pays first , less than 20 Medicare pays first .


Input: What Is The Best Medicare Supplemental Insurance Plan?

Output: The best Medicare supplemental insurance plan in your state is one that matches your needs and budget . Medigap insurance rates vary considerably by zip code , age , tobacco use and plan . The older you are the higher your Medicare supplement rate will be . The exception is for those who are under age 65 and on disability and Medicare . In most states rates for under age 65 are astronomical . Many carriers offer competitive rates from age 65 to 74 . Above age 74 some plans -LRB- surprisingly -RRB- become more competitive while others less so . Tobacco use often adds 20 % to the rate but can be more , depending on the carrier . Plan F is the most expensive -LRB- and most popular -RRB- followed by D or G -LRB- depending on your state -RRB- , N then Hi F which is the least expensive . You can generally find a site that offers `` instant Medigap quotes '' but keep in mind the most competitive rates are usually not illustrated online . #GeorgiaMedigapPlanRates #GeorgiaMedicarePlans #GaMedigapQuotes


Input: What Is The Best Medicare Supplemental Insurance Plan?

Output: Best means different things to different people . To some people best means lowest price . To others it means it accepts their health conditions when other companies might decline you . I 'm going to assume that by best you mean the highest level of coverage regardless of price . That is an easy question to answer . The Plan F Medicare Supplement is the highest level of coverage you can get of all Medicare Supplements . Many companies sell it and they all sell exactly the same thing -LRB- required by law -RRB- but they do not charge the same price . Plan G is always a better value than Plan F is . You only pay a deductible of $ 146 one per year but you can save $ 200 to $ 300 in annual premium when compared to plan F. Have your insurance broker show you the rate for all the top companies so you can buy your Plan F cheaper and save . Have him also explain Plans G and plan N which can also be a better value for many people .


Input: What Vanguard Fund Is Best For Roth IRA?

Output: Interesting question . Vanguard is a very large Fund Family , with many different asset classes and their associated risks . Selection of an investment in any type of account should be based on several factors such as Investment time Horizon , your personal tolerance for risk -LRB- market gain or loss -RRB- , and investment objectives . This is where working with an advisor who does this everyday will reap dividends by helping you select the right investment for You !


Input: Does Renters Insurance Cover Sprinkler Damage?

Output: It may . It will really depend on the cause of the sprinkler release in the first place . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: Why Is Life Insurance So Expensive In Wisconsin?

Output: If you have found that life insurance is expensive in Wisconsin , it is probably due to one or more of several reasons : 1 -RRB- You are an older person . The younger you are , the cheaper life insurance is , when other factors are comparable . 2 -RRB- You smoke . Tobacco rates often run three times nontobacco rates . 3 -RRB- You have a health condition . Health can make a big impact on life insurance premiums . 4 -RRB- You are buying permanent insurance . The longer you lock in the rate , generally , the more it costs . But then you do not have to purchase a new policy at an older age , when the short term policy runs out . 5 -RRB- You do not have a selection of policies from which to choose . Using a broker can help you get the lowest cost .


Input: Is It Mandatory To Have Homeowners Insurance?

Output: It is if you have a mortgage . In order to close on a loan , mortgage companies , among other requirements , will need to see proof that you have Homeowners Insurance issued by a financially solid company . They will also require that they be named as an interested party with the proper `` mortgagee clause '' and loan number listed prominently on the declaration page .


Input: Does Life Insurance Lapse?

Output: Yes , many people lapse their life insurance policies . It comes from failure to pay enough premium to keep it in force . Most people buy term life insurance for a level premium for 20-years or so . At the 21st year they COULD pay more and keep it going but hardly anyone ever would because the premium at that time would be very high . So the policy will usually lapse . Any type of policy can lapse if you do n't pay the premium but term is designed to lapse once you do n't need it anymore .


Input: Does Life Insurance Lapse?

Output: Yes , life insurance can lapse . Failure to pay premiums is the usual reasons or in some cases underpaying premiums on a flexible premium policy can also cause the policy to lapse . Depending on state regulations a company may be required to allow 30-60 days `` grace '' on premiums in arrears before offically cancelling the policy . .


Input: Does Life Insurance Lapse?

Output: Can life insurance lapse ? Yes . There are circumstances when life insurance coverage can lapse : You stop paying premiums . The premiums you pay and accumulated policy cash values are not enough to continue coverage . You stopped paying premiums some time ago , attempting to pay via the cash values and those values are not enough to continue . Youdid n'tpay your premiums on time and not during the grace period .


Input: Does Home Insurance Cover Spoiled Food?

Output: If the food spoilage is a result of a covered peril then yes the food would be covered in most cases . For example , a major windstorm causes a power outage for an extended period of time . As long as reasonable efforts were made to conserve the food it would most likely be covered subject to your deductible . Since most people carry a $ 500 or $ 1000 deductible it may not be to your advantage to turn in a claim if that is all that is lost . Most people do not have that much spoilable food in their refrigerator and freezer .


Input: How Much Does Globe Life Insurance Cost?

Output: Globe life insurance is an A + rated life insurance company that has been around since 1951 . Globe offers term insurance , whole life insurance and children 's insurance . They have a deal where you pay $ 1 for the first month and then your premium is based on your age at the time of issue .


Input: How Much Is Homeowners Insurance Generally?

Output: The cost of homeowners insurance is determined by several factors . Location , type of house , condition of the property , claim history and personal credit are some of the major factors . In Virginia , homeowners insurance typically ranges between $ 400 - $ 1,800 per year . In Maryland , rates are typically between $ 600 - $ 2,500 . In South Carolina , homeowners insurance is very expensive especially if you live on the coast . Insurance rates in Hilton Head , SC can exceed $ 5,000 for a modest home .


Input: How To Be A Health Insurance Broker?

Output: The requirements to be a health insurance brokerwill vary from state to state . Generally there will be a specified number of hours of training , generally in a classroom setting though online training is becoming more accepted , that a person will have to complete before they will be allowed to take their state 's insurance exam . The applicant must successfully complete their state 's Life & Health Insurance exam before they can become a licensed insurance and legally engage in the sale of life and health insurance products . You should also expect to be required to have Errors & Omissions Insurance either by your state or by most , if not all , of the insurance carriers whose products you will want to sell . Completing these steps will then get you to the stage where you are technically trained and legal to sell life and health insurance products , However , this does n't mean that you will really have anything but the most superficial knowledge of the life and health insurance industries and the basic rules of the road . After that your real education begins and will have to continue throughout your career as the Life and Health Insurance business is multifaceted and constantly changing . This has never been more true than now in the era of health care reform .


Input: Does Rdr Impact Annuities?

Output: RMDs -LRB- required minimum distributions -RRB- impact most qualified retirement plans . So whatever products were used to fund those are subject to RMDs , including annuities . The biggest impact of an annuity in a qualified plan is the loss of tax free basis and the special treatment it receives in lifetime annuitization . But in general terms annuities can be managed to comply with RMDs .


Input: Where Do You Report Life Insurance Proceeds?

Output: Most life insurance proceeds do not have to be reported at all . If you are taking payments on a monthly or annual basis , you need to report the interest that the insurance company is paying you for retaining your money . You report this in the same spot where you report other earned interest .


Input: What Happens When Car Insurance Gets Canceled?

Output: Well , several things actually . First , assuming you live in a state that requires you to have car insurance in order to register your car , the Department of Motor Vehicles will be notified and they will contact you to ask that you submit proof of continuous coverage -LRB- in the event that you changed carriers -RRB- . If you can not show such proof , your registration will be suspended and you will in addition probably face a fairly stiff fine .


Input: Does Renters Insurance Cover Spoiled Food?

Output: There can be several reasons that food would spoil . If it is owner neglect , then it wont be a covered loss . If it is the result of power interruption and the interruption is outside the building then it will not be covered . If it is the result of a power interruption because of some covered event such as fire , inside the premises then it will probably be covered .


Input: Is Long Term Disability Insurance Taxable?

Output: Compensation based on the average long term nondeductible disability insurance policy will pay around 60 % of your compensation tax free , up to 80 % of your compensation if you deduct the disability premium as a business expense , but your benefits are taxable . You need to do the math before selecting your course of action .


Input: Is Long Term Disability Insurance Taxable?

Output: The rule of thumb on this is that if you deducted the premiums from your taxes then the benefits would be taxable . If you did not deduct the premiums than in most cases the benefits are not taxable . Tax laws change so make sure you consult your tax adviser for your particular situation .


Input: Can Child Support Take Life Insurance Money?

Output: While there is no requirement for a life insurance company to report benefits being received to the Court , if someone owes child support , it would be possible for the party that is owed the money to hire an attorney in order to get a court order to seize those funds . If the amount owed is significant , some attorneys will take a case like this on a contingency . basis If you are the beneficiary and owe support , and if the other party is not aware of it , then you should receive the money without any problems , and use a portion of the funds to pay your overdue support .


Input: How Much Should I Budget For Health Insurance?

Output: The amount you should budget for health insurance depends on the cost you will have to pay . The new federal Obamacare subsidy will potentially reduce your premium by hundreds of dollars per month -LRB- assuming you qualify -RRB- . The subsidy is based on your household income . An experienced broker -LRB- and our websites -RRB- are perhaps your best resource for determining how much you should set aside for your health insurance . Keep in mind that there may be additional out of pocket costs for copays , deductibles , and possible coinsurance , depending on the type of policy that is purchased .


Input: Will Renters Insurance Pay For A Hotel Stay?

Output: If your apartment is damaged by a named peril -LRB- i.e. fire -RRB- and you can not live in it , your renters policy will pay for the additional cost of living somewhere else . That could be a hotel , or it could be a different apartment depending on the length of time necessary to repair your apartment .


Input: If A Neighbor's Tree Falls On Your Property, Who Is Liable For Cleaning It Up?

Output: Basically , the issue comes down to the health of the tree . If for example , it is healthy and the thing just comes down during a heavy storm , then there is no liability on the part of your neighbor . If on the other hand , the tree is not healthy AND your neighbor knows it , then if the tree comes down , that becomes a question of negligence and therefore your neighbor 's responsibility . There is another element to be considered , however , if the thing falls and hits nothing but the ground , there more than likely will not be any coverage to cut up and remove it on either your neighbor 's or your policy . A claim is triggered if the tree comes down and damages a structure or a vehicle .


Input: If A Neighbor's Tree Falls On Your Property, Who Is Liable For Cleaning It Up?

Output: We have had a large number of ` fallen tree ' claims following wind strorms . In each and every case , the insurance carrier will send out a claims adjustor to assess the damage and try to assess the health of the tree . The only coverage that exists on a homeowners insurance policy or a landlords insurance policy would be in the Liability section . The liability section will afford coverage as a result of the negligence of the covered party for damage to others . If the tree was healthy and the cause was Wind , an ` Act of God ' is not negligence on the part of the insured , thus the claim would be denied . If , however , the tree was in bad health -LRB- perhaps rotten in part -RRB- and the tree fell and caused damage to another party , this situation would be deemed negligence on the part of the insured and the claim would be covered . Although we are a home insurance processor and not claims adjustors , this scenario has played out multiple times and we feel confident that it is generally a good rule of thumb .


Input: If A Neighbor's Tree Falls On Your Property, Who Is Liable For Cleaning It Up?

Output: This is really more of a legal question than an insurance question but I 'll give you some guidelines . As a general rule , if it 's on your property , it 's your responsibility . So , legally , if it 's your neighbor 's tree falls on your property , he should take care of it . This does n't always happen , and many small battles have ensued over just this type of thing . I 've seen neighbors do some pretty weird things in these situations . I 've seen people send registered letters , call the police , report to the city or township , even hire a lawyer to sue . My advice , be reasonable and talk to your neighbor , preferably before it falls , and come to some aggreement about what needs to be done , if anything . From an insurance standpoint , nothing 's really going to be done with a fallen tree unless it falls on something an causes damage . Then , in most cases , your insurance company will pay to move it off of your home , that 's it . Some homeowners policies will have endorsements available for debris removal which may pay to remove it , usually up to some limit . Many times , though , removing it from a structure is all an insurance company will do and removing the tree from your property is your responsibility .


Input: Does Life Insurance Pay For Funeral Costs?

Output: Many funeral homes will accept an assignment of a life insurance policy in order to pay for final expenses . Your beneficiary can give the funeral home the details of your life insurance policy -LRB- company , acct # , etc. -RRB- and the home will contact the company to verify that the policy is in force . Your beneficiary can then sign an assignment form in lieu of paying the funeral home directly . When the life insurance company pays the claim they will send a check for the amount owed directly to the funeral home , then the balance will be paid to your beneficiary .


Input: Does Life Insurance Pay For Funeral Costs?

Output: Typically the death benefit of a life insurance policy has no specified requirements other than it is to be paid to the named beneficiary or beneficiaries upon proof of death of the insured . How the money is then used is not governed or directed unless the insured has stated in their will that the beneficiary should do something in particular with it . There are types of policies that are designed specifically to be final expense or funeral expense policies , but unless the mortuary is the beneficiary , how the beneficiary uses the money is not dictated by the policy .


Input: Does Life Insurance Pay For Funeral Costs?

Output: As long as the face amount is enough to cover the funeral bill . Life insurance can cover whatever it is set up to do . There are no restrictions on what the money can be used for . The beneficiary can decide how best to use the money according to the circumstances .


Input: Does Health Insurance Cover Lap Band Surgery?

Output: It depends on who your carrier is and how strict their underwriting is . If it is deemed medically needed , such as for morbid obesity then they probably will pay for it . If it just for cosmetic reasons , just to looes a couple of pounds then , no it most likely will not be covered . Health insurance companies do n't like cover surgeries just to make people pretty .


Input: Is A Fixed Annuity A Security?

Output: No , a fixed annuity is not a security and is not governed by the SEC . A fixed annuity guarantees that you will receive a fixed payment for a fixed period of time ... either a number of years or for the rest or your life . As such , no part of the annuity is invested in the stock market or other securities where there is the risk of loss .


Input: Is A Fixed Annuity A Security?

Output: Is a fixed annuity a security ? Technically no . An fixed annuity is an insurance product , governed by your state 's insurance laws . With a fixed annuity , the insurance company offers a set rate of return for one year or more and bears the investment risk for the plan . It is up to the insurance company to invest those funds to meet the obligation they 've stated for that year . Clearly their goal is to do better than the stated rate of return as that is part of their profitability , but even if they do n't make the return they promise , they still have to pay it .


Input: What Happens When You File A Renters Insurance Claim?

Output: A renter 's policy is the same as a homeowner 's policy except that it does not cover the building itself . You should have largely the same expectations from a renter 's policy as you woulda homeowner 's policy . So in the event of a covered claim you could be compensated for your physical loss of possessionsas well asextra living expenses associated with having to move afterthe claim . Renter 's policies also provide liability coverage to you and your family . This is very broad coverage that could cover anything from slip and trip exposures around the house to certain misfortunes that happen away from home as well . Talk to your broker to find out everything a renter 's policy covers and what endorsements you need .


Input: Can Life Insurance Deny Coverage?

Output: Life insurance can deny coverage when you are applying for it , if you do not fit that company 's guidelines for age , health , build , or other factors . Life insurance companies can not deny paying a life insurance claim unless they have a valid reason for doing so , such as the policy was no longer in effect .


Input: Can Life Insurance Deny Coverage?

Output: I assume you mean `` can a life insurance company deny coverage '' and the answer is yes . A life insurance carrier can deny coverage for many reasons including health , lifestyle and financial considerations . The only type of coverage which can not deny a policy is called `` guaranteed issue '' and those policies have a 2 year waiting period before coverage begins , except for accidental death .


Input: Can Life Insurance Deny Coverage?

Output: It is completely within the control of the life insurance company to approve , deny or postpone your application . Underwriting guidelines are used to determine your insurability . During the application process , the insurance company will look at your medical records , results of a paramedical exam that they pay for , driving record and answers to other lifestyle and medical history questions in order to determine your `` rating '' . If they do n't like what they see , they can decline you . Just because you have been declined by one insurance company , it does not mean you are uninsurable by all insurance companies . Insurance companies have different standards for underwriting and where one company will decline or rate you low ; another may approve you or rate you higher . Working with a qualified , independent insurance agent can help get you connected to the insurance company most likely to give you the highest rating possible for your situation .


Input: Can Life Insurance Deny Coverage?

Output: Yes , life insurance companies can and will evaluate risk when deciding to approve or deny life insurance coverage . The life insurance company bears the most responsibility . For example , your investment in a term life insurance policy is literally pennies on the dollar of benefit should you have a death claim . Underwriters take a hard look at your mortality risk on each and every policy .


Input: Is Disability Insurance Income Taxable?

Output: If you have a legitimate business , that expenses operation costs , you may qualify for a deduction for disability insurance premiums . And tax deductible disability insurance allows for the purchase a greater benefit than nondeductible disability premium . However , tax deductible disability insurance benefits are taxable at ordinary income tax rates .


Input: Does Disability Insurance Cover FMLA?

Output: Disability insurance and the Family Medical Leave Act -LRB- FMLA -RRB- are two different animals . Disability insurance replaces a portion of income during the time the insured is unable to work due to a covered medical condition . FMLA is a federal law which provides unpaid job protected leave when an employee has to stop working due to his or her own disability , or to care for a sick family member . Disability insurance will not cover an FMLA leave when the employee is caring for a sick family member . It may cover the FMLA leave for an employee 's own disability . However the length of leave under FMLA -LRB- 12 weeks maximum -RRB- is different than the disability leave -LRB- while disabled up to the policy 's maximum benefit period -RRB- .


Input: What Is Term Life Insurance?

Output: Video Transcript : What is term insurance ? Term insurance is temporary expense reimbursement money , TERM . Temporary insurance using term covers only temporary obligations or temporary financial indebtedness . It 's a time-certain event where you think you 're going to have the coverage will not be necessary after that time period . It can be bought in 5 , 10 , 15 , 20 , 30 , sometimes even 40-year increments , depending upon your age . Term insurance usually has a conversion component inside the policy provision , so that if you actually needed the coverage beyond your term that you bought , you 'd be able to go ahead and extend it by converting it to a permanent form of life insurance . There 's windows to that conversion , but generally , term is for a temporary expense reimbursement , something that you 're going to have ; an exposure or a liability , for a certain time .


Input: What Is Term Life Insurance?

Output: Term life insurance is life insurance that covers you for a `` term '' , or temporary period of time . The most common terms are 10 , 15 , 20 , or 30 years . The premium will usually stay the same during the term , then jump up to a very high price at the end of the term . After that , it will continue to go up every year . Some policies simply end when the term ends . Term policies have no cash value . You will not receive any money back -LRB- unless you took ROP term , in which case it would return the premiums you paid in , at the end of the term -RRB- . People buy Term insurance for it 's relatively low price . If you can afford to pay the premiums for Whole Life or Universal Life , you might end up paying less overall , because your premiums can end at some point but your policy can stay in effect . With Term , when you quit paying premiums , your coverage ends . If you have a temporary need , Term can be a great choice .


Input: When Do Employers Have To Provide Health Insurance?

Output: Your question is a common one these days . It may be a subtle distinction but I 'm a firm believer in being clear on our terminology . Many employers and employees think that the Affordable Care Act -LRB- ObamaCare -RRB- legally requires employers to provide health insurance to their employees . This is not the case . In fact , ObamaCare may possibly have the result of reducing the number of employers who provide health insurance for their employees . Only time will tell on this issue . What the Affordable Care Act does is provide a mixture of incentives and penalties to employers regarding their choice as to whether to offer group health insurance to their employees . At the current time you need to subdivide the employer marketplace into three different segments and understand how the law applies to each one in the coming years . 1 -RRB- The small group market -LRB- 2 to 49 employees -RRB- - for companies of this size there is a possible incentive in the form of a tax credit to encourage employers to offer health insurance to their employees . THERE ARE NO TAX PENALTIES FOR EMPLOYERS IN THIS SIZE RANGE WHO DO NOT OFFER GROUP HEALTH INSURANCE TO THEIR EMPLOYEES . As with many aspects of the Affordable Care Act , even the availability and value of the tax credit is confusing and ends up being of little or no value to most small employers . First , the employer will have to purchase group health coverage through the SHOP program of the government health marketplace in their state in order to qualify for the tax credit of 50 % of what the employer contributes towards employee coverage . This may significantly reduce the employer 's options . For instance , here in Tennessee , only one group health insurance carrier has chosen to participate in the SHOP program in 2014 . So your choice is Blue Cross/Blue Shield in that case . The employer may find significantly less expensive group plan options from other insurance companies outside of the SHOP program . Next , the tax credit really only applies to groups of up to 24 employees and actually maxes out for groups with 10 or fewer employees , plus your average workforce wage has to be below $ 50,000 / year . And , the tax credit can only be claimed for two consecutive tax years . For these reasons the tax `` incentives '' provide little real incentive for most small employers to use the SHOP program and the SHOP program has done little to increase competition in most states . 2 -RRB- Groups with 50 to 99 employees - originally groups in this size range were to be subject to the Employer Mandate on January 1 , 2014 . However , the Obama administration delayed implementation of the employer mandate for groups of this size until January 1 , 2016 . So , while there are some issues employers in this size range need to be aware of and planning for , in most ways the status quo remains unchanged for employers in this size range . 3 -RRB- Employers with 100 or more Full Time/Full Time Equivalent employees - for employers who fall into this category the Employer Mandate provision was delayed only until January 1 , 2015 . After that date employers in this size range who offer no health insurance to their employees will be subject to a tax penalty of $ 2000 per employee if at least one of their employees purchases individual health insurance through the government health insurance marketplace and receives a premium tax subsidy . A second tax penalty situation is created for employers who offer health insurance to their employees which is deemed unaffordable under the terms of the Affordable Care Act -LRB- the cost to the employee must exceed 9.5 % of their W2 income -RRB- . In this circumstance the employer is subject to a tax penalty of $ 3000 for each employee who enrolls for individual coverage in the government health insurance marketplace and receives a premium tax subsidy . To make the tax penalties a bit more punitive , they will not be a deductible business expense . At first glance these potential tax penalties might appear to many to be a strong incentive for larger employers to provide health insurance to their employees . But , in practical terms , the tax penalties are often far less expensive than providing group health insurance especially in light of the additional coverage requirements of the Affordable Care Act that are driving health insurance rates up even further . So , no employer has to provide health insurance to their employees . And for larger employers it is simply a decision as to whether to bear the cost of providing group health insurance or paying a tax penalty .


Input: When Do Employers Have To Provide Health Insurance?

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


Input: Does Health Insurance Cover Childbirth?

Output: It will depend on whether your policy covers maternity or not . Usually complications of pregnancy would be covered but not necessarily normal pregnancy . Check your policy or call your company . Beginning in 2014 maternity is a requirement according to the new health care mandates for minimum required coverage . This is part of the reasons you will see cost of health insurance rise .


Input: When Can You Use Long Term Care Insurance?

Output: Most policies will be eligible to file a claim when an individual can no longer perform at least two or three -LRB- depending on the policy -RRB- activities of daily living spelled out in the policy . Once you meet this criteria file a claim with your company . Once you satisfy the elimination period your policy will begin to pay .


Input: What Are The Classes Of Life Insurance?

Output: The classes of life insurance also refer to rating classes of which there are 14 depending on the life insurance carrier . Your lifestyle , health status and occupation determine which class you will receive to determine your premiums . From best class to most expensive class goes as follows : 1 -RRB- Best Preferred 2 -RRB- Preferred 3 -RRB- Select Plus 4 -RRB- Select 5 -RRB- Standard Then Table 2-10 or A-I Anything rating over 10 or I would be a decline .


Input: What Are The Classes Of Life Insurance?

Output: The two main classes of Life Insurance are Term and Permanent . Term insurance does not usually have any cash value and is designed for temporary needs . Permanent insurance can have cash value and is designed for permanent needs . Some common types of Permanent Life insurance are Whole Life and Universal Life .


Input: Will Renters Insurance Cover Engagement Ring?

Output: It depends . What is the value of your engagement ring ? Most insurance companies limit jewelry coverage to $ 1500 - $ 2500 . Check with your insurance provider to see what their jewelry limits are for personal property . If your engagement ring value is higher , then you will need to `` schedule '' that item under your renters insurance policy . Send your insurance company the appraisal document , provide a detailed description of the ring and an accurate replacement value .


Input: Does The Federal Government Offer Long Term Disability Insurance?

Output: The Federal Government provides Social Security Disability for people who worked and paid into the system , and have a disability that is expected to last for twelve months or longer , or result in death . Certain people born with a disability may be eligible to receive benefits after age eighteen . Only private companies offer long term disability insurance for purchase . These policies may pay larger benefit amounts , for a wider array of disabling conditions than does Social Security Disability .


Input: How Many Standardized Medigap Policies Are There?

Output: In all but three states , there are 10 `` standardized '' Medicare Supplement , aka Medigap , plans available . These plans are known by the letters Plan A , B , C , D , F , G , K , L , M , N , and a High-Deductible Plan F . If you are looking for the policy with the most coverage , that will always be Plan F . That said , many people benefit from Plan G , which covers all the same items as F , other than your annual Medicare Part B deductible , which is just $ 147 this year . If you can save more than $ 147 a year in premiums by going with G , that may well be the best plan for your personal situation .


Input: How Many Standardized Medigap Policies Are There?

Output: There are 10 standardized Medigap Plans available to Medicare Beneficiaries . They include Plan A , B , C , D , F , G , K , L , M , N with Plan F also offering a high-deductible plan . The most popular standardized Medigap Plans are F , G , and N. Plan F will cover all your Medicare approved charges . You do not have to pay any co-pays , co-insurance or deductibles for Medicare covered costs . If you choose the high-deductible Plan F , you must pay for Medicare covered costs up to the deductible amount of $ 2,140 -LRB- 2014 -RRB- before your Medigap Plan F will pay anything . Plan G will cover all your Medicare approved charges after you have satisfied the annual Part B deductible of $ 147 -LRB- 2014 -RRB- . Once the small deductible is met , Medigap Plan G acts like Plan F and covers the co-pays , co-insurance and deductibles that Original Medicare does not cover . Plan N covers 100 % of the Part B co-insurance , except for a small co-pay for some office visits -LRB- never more than $ 20 per visit -RRB- and up to a co-pay of $ 50 for emergency room visits -LRB- waived if admitted as an inpatient -RRB- . You are also responsible for satisfying the annual Part B deductible of $ 147 -LRB- 2014 -RRB- and any Medicare Part B Excess Charges . If you have further questions regarding your specific situation , please feel free to contact me .


Input: Which Type Of Life Insurance Policy Pays A Dividend?

Output: Dividends are paid by Mutual Companies . There are three main types of Life insurance companies : Stock companies , who pay profits to stockholders , Fraternal 's , who give back profits in the form of extra benefits to their policy holders , and Mutual companies . Mutual companies pay back excess profits in the form of dividends to their policy holders . Look for the word `` Mutual '' in the company name , as one indicator . Dividends are usually only paid on whole life policies .


Input: Does Medicare Cover Jevtana?

Output: That is a great question ! It may be covered under the Part D prescription plan . Check there , or you can go to the Medicare site , WEBSITELINK and look there . If you are n't familiar with the site , it has a lot of really good information . Thanks for asking !


Input: Does Medicare Cover Jevtana?

Output: Jevtana is a prescription medication and would be covered by a stand-alone Part D prescription drug plan if it is listed in the plan 's formulary -LRB- list of drugs covered by the plan -RRB- . If your current plan does n't cover the prescription , you can change to a different Part D plan -LRB- one that covers the drug -RRB- during the annual enrollment period -LRB- Oct 15-Dec 7 of each year -RRB- . Please feel free to contact me with any other questions . Thanks very much .


Input: What Does Guaranteed Level Term Life Insurance Mean?

Output: The term `` guaranteed level term life insurance '' has to due with the premiums paid by the insured . For example , if you purchase a 20 year term life plan for $ 50 per month , the insurance company by contract is guaranteeing not to change your premiums for 20 years as long as you pay your premiums every month . This is regardless in change of health , occupation or residence . You are able to cancel the contract at anytime .


Input: What Does Guaranteed Level Term Life Insurance Mean?

Output: Guaranteed level term life insurance is life insurance that is guaranteed not to go up in price , or down in death benefit , for the entire term . E.g. . If you took out a guaranteed level term life insurance policy of $ 1,000,000 in 30 year term at a rate of $ 100/month at age 31 , you would be paying the same rate at age 60 as you were at age 30 . If you passed away during those 30 years , your beneficiary would receive the full $ 1,000,000 .


Input: When Can I Apply For Medicare Online?

Output: You are eligible to apply for medicare during a span of 7 months beginning 3 months prior to the month of your 65th birthday , including the month of your birthday and the 3 months following your birth month . Navigate to medicare.gov or the Social Security website , www.ssa.gov . From either of these portals you can gain access to the necessary enrollment forms .


Input: Will Medicare Go Bankrupt?

Output: That is a great question . The answer is yes , if our government does n't do something about it very soon . The Affordable care Act -LRB- Obamacare -RRB- made cuts in the overhead costs , added fines for medical providers who had bad rates of returning patients , and increased the fraud departments , and these cuts were supposed to extend the life of Medicare/Medicaid another 5 years or so . I believe the last estimate was to mid 2020 's . But with nearly 10,000 Seniors turning 65 every day and the workforce not paying enough into the fund to cover expenses , it 's anyone 's guess if it makes it that far . And as a quick bit of trivia , Social Security is projected to go belly up just shy of 5 years later , a move that some economists say will increase the poverty rate in America by nearly 500 % . That 's scary stuff , when you realize that 55 % of Senior Citizens already live at or below poverty levels -LRB- 2012 Census data -RRB- . Thanks for asking !


Input: Can Auto Insurance Companies Drop You?

Output: If you or one of the the other drivers in your household that is listed on your policy fall outside of your current auto carrier 's guidelines or fraudulant information has been provided to the carrier they would more than likely drop your coverage with typically at least 15 day notice or non-renew your policy at the end of its term .


Input: Can Auto Insurance Companies Drop You?

Output: Depending on your states laws . They have to give you 45 day notice in Montana and the can if you fraudulently put information on your application they can there are many reasons why they can . In many cases they Non renew you When you get an auto policy in most states it clearly states that you must list all drivers that regularly dive your auto and if you do n't then that is fraud and they can also use that to cancel on a Home if there is more of a risk then it is possible or 2 many claims there numerous factors that would apply contact a local agent and find out why there are many things that they can do to prevent this from happening


Input: Can Auto Insurance Companies Drop You?

Output: Yes , if you do not pay your premiums or no longer meet the carriers standards the carrier can either cancel or non-renew your policy typically with as least fourteen days notice . Contact your local agent to discuss the details of the drop notice . They may be able to help you understand the reasons behind your coverage being dropped or non-renewed .


Input: Does Term Life Insurance Require A Medical Exam?

Output: It depends on the carrier , your age , and the amount of insurance . There are some carriers that require exams and others that just ask a handful of medical questions . In many cases , the less questions asked , the higher the premium is for the same coverage . In most cases , if the coverage is more than $ 250,000 of coverage , you WILL need an exam .


Input: Does Term Life Insurance Require A Medical Exam?

Output: Most Term Life Insurance polices do require a medical exam . There are `` nonmed '' policies that do not require an exam , and even some policies that require an exam will exempt low face amounts and/or children from having to take one . The exam is free to the person applying for insurance , and can be done in one 's own home , office or place of one 's choice -LRB- including the exam company 's office -RRB- .


Input: Does Term Life Insurance Require A Medical Exam?

Output: This will depend on how much life insurance coverage you are looking to buy . If you are looking for an amount of $ 300,000 or less you can usually find term life insurance that does not require a medical exam . This is called simplified issue term insurance . It is generally more expensive than fully underwritten life insurance . If you are looking for amounts higher than this , you will need to undergo a medical exam to qualify for insurance coverage .


Input: Does Term Life Insurance Require A Medical Exam?

Output: Some Term Life Insurance requires an exam and some Term policies do not . There are No Exam Term Life policies for up to $ 500,000 . Therefore , you could get several policies and get up to $ 1,000,000 of coverage without having to take a paramed exam , if you wish . For those with perfect health , taking an exam can usually save you some money . However , if you are overweight or have other minor health problems , No Exam Term can be surprisingly competitive . For some people , the inconvenience of having to take off work to do the exam , or a dislike of needles , is worth the slightly higher price of getting nonmed Term Life . There are many life insurance policies that do not require a physical . Please do not hesitate to drop me an email if you 'd like to see some options .


Input: What License Is Required To Sell Annuities?

Output: There are two main types of annuities : Fixed and Variable . In order to sell Fixed annuities you need an insurance license for the state that you want to sell the annuity in . In order to sell a Variable annuity you need both an active state license as well as a securities license .


Input: Does Medicare Run Out?

Output: In general , Medicare does not set artificial limits for treatment on an annual or lifetime basis . So in theory , you will not `` run out of Medicare benefits '' . Medicare does require pre-certification for some items such as DME and may only authorize coverage in 90 day increments . Check with your doctor for full details .


Input: What Does A Life Insurance Application Look Like?

Output: A life insurance application is a form divided into sections . The first section asks your personal information , such as name , date of birth , address , etc. . The next section usually asks about the policy you are applying for - face amount , how you want to pay the premium , etc. . Then the application asks about your risk factors : whether you smoke , participate in dangerous hobbies , your health issues , etc. . If you are applying for a simplified or guaranteed issue policy , the questions about risk will be fewer or nonexistent . There will also be some supplemental forms for medically underwritten policies , such as the HIPAA and HIV forms which give your consent to be tested for HIV and for your medical records to be reviewed by the insurance company . Again , if you are applying for a nonmed policy , there is no need for medical exam . But for larger face amounts or very competitive pricing , this type of testing is usually required .


Input: What Does A Life Insurance Application Look Like?

Output: Some life insurance applications are not even on paper anymore . Some have gone digital . The process of applying for life insurance basically involves you giving a lot of information about your health history , medications , family history , etc. then the insurance company verifies all the information . With some you will take a physical exam .


Input: What Does A Life Insurance Application Look Like?

Output: In my office we have applications that are one or two pages long and others that are 15-20 pages long . Most begin with basic information about the proposed insured . Name , date of birth , SSN and address . Beneficiary -LRB- s -RRB- information and the proposed plan and premium . Then depending on the type of plan and underwriting process it may go on to ask medical history . It will include a number of disclosures and a few signature pages . The agent will fill it all in for you .


Input: What Does A Life Insurance Application Look Like?

Output: It looks like a phone directory for a small town , so yes its voluminous . The Life Insurance Application has Part one : has personal data of the policy insured , owner and beneficiaries including the life insurance face amounts , premium and premium mode . Part two is the medical data collector which includes medical history , a disease check list , questions on medication use and entry area for all attending physicians statements and notes to assist the underwriting process . The application has addition paper work for replacement , 1035 exchanges , HIV consent forms , temporary premium payment receipt , etc. .


Input: Is Life Insurance Needed In Retirement?

Output: Yes , indeed ! Here is how you can make sure : Answer this question : how can you have your cake and eat it too when you decide on your pension distribution ? If you take the highest monthly income , it will not pass on to your spouse if you predecease him/her . But if you distribute the pension over both your lifetimes , then the monthly amount will be lower . Why not take the highest income for your life only - and also buy life insurance to replace the lost income for your spouse ?! When you pass on , the pension money will be lost , but the life insurance benefit will be paid . This way you can both have all the money you need - right when you need it !


Input: Is Life Insurance Needed In Retirement?

Output: Ultimately the question is , `` How will my passing effect those that I love . '' Many people want their personal affairs to be completely in order , bills paid and allowances made for final expenses . Many leave a spouse , whose care is a concern . Some want to be remembered by relatives or charities . Very few people pass with too much life insurance .


Input: Is Life Insurance Needed In Retirement?

Output: Whether life insurance is needed in retirement depends on the person . I just spoke with an 80 year old woman this weekend who decided to cash in her final expense life insurance policy because she discovered that a small annuity -LRB- from which she does not need the income -RRB- will pay a similar death benefit . Most life insurance agents will talk to retirees for free , and can help you determine whether life insurance can save on your taxes , help make your passing less traumatic , enable family members to carry on your business , etc. . Or they can help you decide whether life insurance is no longer needed in your situation . Either way , you can make well informed choices about your money and not have to worry if you are doing the right thing .


Input: I Barely Have Diabetes, Can I Get Life Insurance?

Output: Yes , it may be possible to get life insurance with diabetes . In the old days diabetes was a decline , not even considered . Now most companies will look at an individual 's situation with diabetes to determine an offer . One thing though , once you start taking medications to treat your diabetes , you are a diabetic . Type II for 15 years myself .


Input: I Barely Have Diabetes, Can I Get Life Insurance?

Output: Yes , you can almost certainly get Life Insurance . If you were recently diagnosed with diabetes , you will want to have at least one follow up A1C test done before applying , to show that your blood glucose is responding to treatment and/or diet and exercise . If you have any side effects such as significant neuropathy , if you have heart disease along with diabetes , or if your weight is outside the build charts for medically underwritten life insurance , there are simplified issue policies to cover almost every adult with diabetes who is looking for life insurance .


Input: How Does Work Disability Insurance Work?

Output: Disability insurance pays -LRB- generally tax free -RRB- benefits in monthly income if you 're unable to work because of prolonged sickness or recovery from an injury after the elimination or waiting period has been satisfied . Disability can be purchased as short or long term coverage and is like paycheck protection to maintain your lifestyle .


Input: How Does Work Disability Insurance Work?

Output: Work Disability Insurance is provided at group rates by an employer , or is paid for by the employer for employees . You need to be well acquainted with the summary page that outlines your plan 's the benefits , requirements , and procedures . If you need to make a claim , ERISA sets guidelines on the timefrrame in which you must be informed of a decision . If your claim is approved , you will receive the disability income as described in your policy 's summary page .


Input: Why Would I Want Whole Life Insurance?

Output: Whole Life Insurance is a wonderful thing ! There are so many good reasons to want to have whole life insurance and some of the vary basic reasons are stated by my colleagues above here . Whole Life creates an estate to be passed on to a beneficiary . It does n't expire before you die and the death benefit is paid to your beneficiary tax-free . Whole Life accumulates cash value at a guaranteed rate with no down side risk . And if you buy a policy from a strong Mutual company you get paid dividends on top of the guaranteed interest . Both of these features are like buying money at a discount ! What 's not to want about that ?


Input: Why Would I Want Whole Life Insurance?

Output: You would want Whole Life insurance -LRB- or another permanent policy -RRB- if you want the policy to be in effect when you die . Whole Life insurance will pay your beneficiary even if you live to be 99 years old . If you live to be 100 , you can collect the face amount in cash .


Input: Why Would I Want Whole Life Insurance?

Output: That is a great question ! There are some of the televised financial guru 's that tell you that term life is the way to go , and to forget about whole life as an option . They are right , if you are one of the 1 % who can save enough money in tax deferred or tax free shelters to pay for your final expenses , and leave behind enough tax free cash to support your family when you 're gone . If that 's you , then you do n't need it . If that 's not you , then to have a policy that you ca n't outlive , like you might a term policy , -LRB- and never have to worry about being denied coverage when that happens -RRB- is a great reason . To have a source of no questions asked cash if you need it one day is also a big plus . Having a pretty surefire way to pass wealth down without having to worry about wills or probate is also a great reason . I hope that helps you , thanks for asking !


Input: Why Would I Want Whole Life Insurance?

Output: The primary reason one would want a whole life policy is to have life insurance to cover you no matter what age you would die . There are life policies guaranteed to age 151 . The other simple reason to purchase whole life insurance is its versatility . Whole life insurance is the `` Swiss Army '' knife of life insurance , its cash value can be used for a variety of things from retirement to cash during a critical illness .


Input: Why Would I Want Whole Life Insurance?

Output: There are several reason why you might want to purchase a whole life insurance policy . They offer permanent coverage , with guarantees . Permanent policies provide coverage until the day you die . Term life offers a lower premium cost compared to whole , but the coverage is temporary . Whole life provides guaranteed cash value accumulation , death benefit amounts , and level premiums for life . Guarantees remove the guess work , and provide a level of security other policy types can not match .


Input: When Can You Borrow From Your Life Insurance?

Output: Only permanent insurance policies have cash value . These policies have either guaranteed cash values in the case of whole life policies or they can have values that fluctuate as is the case with universal life . The guaranteed cash values are published in the insurance policy and can be relied upon . You can borrow against your life insurance policy when there is sufficient cash value . The policy will stipulate when that can be done .


Input: When Can You Borrow From Your Life Insurance?

Output: You can only borrow money from a life insurance policy if it 's a policy that builds cash value - a permanent life insurance program . Permanent life insurance includes both Universal and Whole life insurance programs . Term life insurance does not build cash value and therefore there 's nothing to borrow from . The maximum amount you can borrow is up to the current surrender or loan value cited in the policy at the time you want to borrow from the cash value . Keep in mind , when you borrow money from the cash value , you are creating a loan against the policy -LRB- the funds are expected to be paid back and , much like you do when borrowing from a bank , an interest rate is being charged on the borrowed monies -RRB- . If the insured dies with an outstanding loan , the carrier will deduct the outstanding amount and any interest charges from the death benefit and give the difference to the beneficiary . Consult with your agent before borrowing from the cash value to find out what will happen when you create a loan against the policy and what you 're responsible for . Please feel free to contact me for further assistance . Thanks very much .


Input: When Can You Borrow From Your Life Insurance?

Output: As soon as you have accumulated some equity in your permanent life insurance policy , you may borrow against it . I would suggest you wait , allowing it to grow . This is a bank , yes , but the more it accumulates , the more you have for later , when you may need it more , such as for retirement . But permanent life insurance does give you this benefit which is lacking in term life insurance . Thank you . GARY LANE


Input: When Can You Borrow From Your Life Insurance?

Output: Depending on the type of product , and on the contract , you could do so after one month , or perhaps after one year . But the most important consideration is this : you should borrow from your life insurance policy when youre prepared to make a reduced benefit available to the beneficiary . This is because the loan -LRB- plus interest -RRB- will be taken off the top of the death benefit , should a claim have to be paid while it is still outstanding . That could very well short-change your family or business with regards to the cash that they need . The moral of the story : never borrow from your life insurance until youre ready to make the trade off in death benefit .


Input: When Can You Borrow From Your Life Insurance?

Output: The short answer is once you have accumulated enough cash to borrow from , but there is much more to it . First , you must have a cash value or permanent life insurance policy such as a whole life or universal life insurance policy in order to borrow funds . If you purchase your coverage at target premium , in the first 5 to 7 years all of your premium dollars will most likely fund your life portion of the policy . This means cash value really begins to accumulate significantly in the following years . There is a limit to the amount of cash that can be borrowed and leave the policy intact , so the death benefit will be paid at your death . I recommend sitting down with your agent to discuss your options before withdrawing cash from your cash value life insurance policy .


Input: Is Group Life Insurance A Good Idea?

Output: Group life is a very good deal for both an employer and employee . For the employer it is a very affordable benefit to offer employees as an incentive to stay with their company usually coupled with other benefits . Employee turnover is very expensive to owners with hiring and training cost . For the employee group life insurance is usually a no cost benefit or at least low cost to the employee and can add protection for as long as they stay employed by the company . However , I do recommend that everyone have their own life insurance policy in addition to group life . If the employee were to leave the job , in almost every case they also lose their group life benefit .


Input: Is Group Life Insurance A Good Idea?

Output: Group Life Insurance is a good idea , as long as you combine it with a personal life insurance policy that you have purchased on your own . The average time that people stay at one job is 4.4 years , with millennials -LRB- those born between 1997 and 1997 -RRB- changing employment more often than that . Not every job offers life insurance , and most group policies are not permanent , so , unless you purchase a policy outside of the group , you may find yourself uninsured in your retirement years . However , most people need more coverage in their working years , so being able to purchase `` double coverage '' -LRB- group and private life insurance -RRB- during those years can be a very good idea .


Input: Is Private Health Insurance Tax Deductible For Self Employed?

Output: Well , Yes and No . You can always deduct your individual health insurance premiums on your Schedule A , Itemized Deductions , on your income tax form along with other eligible medical expenses . The catch is -LRB- there always is one is n't there ? -RRB- that you have to itemize your deductions -LRB- which you are probably doing as a self-employed person -RRB- and that thanks to ObamaCare your total deductible medical expenses now have to exceed 10 % of your income before you receive any tax benefit . This is generally a pretty high bar to clear for most self-employed people and so the net effect for most self-employed persons is that they receive little or no tax benefit . But as some politicians seem to like to point out , you did n't really build your business . So , why should you get a tax break ? And someone has to pay the taxes to provide for the subsidies for other people 's health insurance or Medicaid coverage . We all know that everyone who owns a business is rich so why not you ?


Input: Does Auto Insurance Quotes Affect Your Credit Score?

Output: Many auto insurance companies will use credit scores to determine the premium rates to charge . Credit scores have proven to be very effective at predicting future claims . On the flip side auto insurance companies do not report claims data . When your report is accessed by the auto insurance company a soft inquiry is logged . Creditors and credit scores do not see soft inquiries , and therefor do not impact your score .


Input: Does Auto Insurance Quotes Affect Your Credit Score?

Output: Although many if not all insurance companies include credit among the elements used in order to determine your premium , the fact that your credit score is pulled has no affect on your score . It is merely another tool , along with loss history , driving record etc. that a company uses in order to analyze risk and determine the corresponding premium .


Input: Does Auto Insurance Quotes Affect Your Credit Score?

Output: No . Getting auto insurance quotes will not affect your credit score . This is a myth that just will not go away ! If you were to apply for multiple credit cards or multiple loans , that would negatively affect your credit score . and because of that , many people make the false assumption that getting quotes with multiple auto insurance companies would also hurt your credit score . But that is simply not true .


Input: Does Auto Insurance Quotes Affect Your Credit Score?

Output: That is an excellent question ! The getting of quotes has no effect upon your credit score at all . In the process of getting a quote , there is nooffer of credit like there is in applying for a loan or credit card . All you are asking for is an estimate of the cost , just like you would at a mechanic before you would have work done . -LRB- When you apply for a credit card , you are asking them to give you access to money that you do n't have , so that offer or attempt will show up on your credit report . -RRB- It is in your best interest to get a few quotes , so ask away . Thanks for asking !


Input: Does Homeowners Insurance Cover Ceiling Leaks?

Output: An important question to ask is what the ceiling leak sudden and accidental ? For example did a storm blow through causing the ceiling to leak . If this is a case you should have coverage . However if this is a long standing problem due to wear , tear anddeteriorationmost likely you would not be covered . Talk to your local agent to discussthespecifics of your potential loss .


Input: Does Homeowners Insurance Cover Ceiling Leaks?

Output: Homeowners Insurance policies generally do cover ceiling leaks ; however , one must be cautious on this topic . Primarily , we must discover the cause of loss and make sure that the cause of loss is one of the covered perils on the policy . We must be certain that there were no exclusions on the policy -LRB- i.e. Roof Leaking Exclusion -RRB- . In few situations , a carrier may be willing to insure a home knowing that the roof is not in good condition , it has been known for few carriers to accept a roof exclusion and in this case , the policy would not cover leaks as a result of the known and exluded condition . If the loss is covered , items that will affect the payout of the claim would be Depreciation -LRB- if the policy is not a replacement cost policy -RRB- and the selected Deductible which will be deducted from the final payout ! For information on a homeowners policy , please review the following : WEBSITELINK


Input: Does Homeowners Insurance Cover Ceiling Leaks?

Output: Perhaps yes , but it is important to talk to your insurance professional about your policy and the cause of the leak . If the damage is caused by a covered loss , then the claim will be settled but of course subject to your deductible . Here in CT this past winter we once again saw a number of claims lke this that were ice dam related .


Input: Does Homeowners Insurance Cover Ceiling Leaks?

Output: A homeowners policy covers damages caused by a named peril -LRB- i.e. fire . -RRB- Deterioration is rarely covered under a homeowners policy . The roof is a piece of the residence that is treated differently when it comes to a claim . Most companies do not replace a roof ; rather they pay for the actual cash value of the roof , or the depreciated value . If the roofing is the problem and it is not the result of a storm or something breaking it , then coverage isnt likely .


Input: Can I Buy Long Term Care Insurance For My Parent?

Output: Yes , you can buy Long Term Care Insurance for your parent . Many children and grandchildren contribute to Long Term Care policies for their elders , to care for them in their old age . The policy is made out in the name of the insured person , with you as the payer .


Input: Can You Get Car Insurance With Just A Permit?

Output: I would say more than likely not because a drivers license number is needed in order to set up an autoo insurance policy in most states and cases . I am making the assumption that you are currently living with your parents ' so my recomendation would be to have a conversation with their Insurance Professional . The car could be registered in a pare n't name and added to their policy for now , then , if it was beneficial to all of you , after you receive your drivers ' license , the title could then be transferred to you which would then require you to have your own policy in most states .


Input: Can You Get Car Insurance With Just A Permit?

Output: Based on my education and experience thus far in the industry , I would have to say that no you would not be able to secure insurance as the sole insured on the policy . You should be able to be added to an existing auto policy in the household until you are able to secure your regular license .


Input: Who Should Be Trustee Of Irrevocable Life Insurance Trust?

Output: Many family members and professional associates are eligible . Interestingly , I find that the majority of my clients designate a brother or sister as the trustee . That makes sense . After all , people tend to trust a close family member on life-and-death issues . When the insured is no longer around , a trustworthy soul is needed to handle the money . And also to take care of surviving family members . Siblings fit the bill . But it must be emphasized that trustees have a huge responsibility with regards to the policy inside the trust . They really need to make sure that it is audited on a regular basis to confirm it is performing as expected . You know how people sometimes lose track of their life insurance ? How sometimes it doesnt perform according to projections , and additional premium payments are needed ? Or it runs out of cash sooner than expected ? Or the death benefit gets reduced ? Well , if you are the trustee of your brother or sisters life insurance trust , you dont want any of this to happen . You very well could be liable . The insured set up the trust with a strategy designed to provide a certain amount of cash to certain people at certain times . Your job is to make sure the train arrives on schedule . If , for whatever reason , that policy under-performs , the buck could very well stop with you . You do not want that hot potato , both for financial as well as family reasons . You dont want to let the people down whom your sibling trusted you to help . So , if you are the trustee , make sure that policy is audited on a yearly basis , and make any changes that are necessary .


Input: Who Should Be Trustee Of Irrevocable Life Insurance Trust?

Output: Anyone who is not the insured , the insured 's spouse , or beneficiary to the trust . This would be a close friend or family member if the insured feels that this close friend or family member can be trusted . Alternatively , the insured could use professional trustee services found at any Trust company . Additionally , many attorneys will act as trustee for trusts that are drafted . Most of the time , there is a fee paid to the trustee in these last two examples for the services rendered .


Input: How Much Should Long Term Care Insurance Cost?

Output: Long term care insurance premiums will vary greatly according to age , health , features of the policy , and area in which the policy is purchased . However , you could look at the federal guidelines for how much premium can be exempted on income tax returns , to get a general guide for life insurance premiums . In 2013 , they are : 40 and under : $ 360/single , $ 720/couple 41-50 : $ 680/single , $ 1,360 / couple 51-60 : $ 1,360 / single , $ 2,720 / couple 61-70 : $ 3,640 / single , $ 7,280 / couple 71 and up : $ 4,550 / single , $ 9,100 / couple


Input: At What Age Can I Collect Medicare?

Output: You are afforded health insurance on Medicare as of your 65 birthday if you are a US citizen who has paid into SSI for 10 + years . You can also qualify if you have a disability and have been on social security for 24 + months . Medicare part A covers your inpatient care while part B is your outpatient services . There is also prescription service called part D . If you think you should have Medicare and do not have your ID card you should call Medicare at 800-633-4227 I hope I have answered your question


Input: How Much Does Individual Health Insurance Cost In Pennsylvania?

Output: Individual health insurance in Pennsylvania has become very affordable , thanks -LRB- in part -RRB- to recent legislation changes in Pa healthcare . A new federal tax subsidy has become available on State Health Exchange plans and Open Enrollment . Medical questions are no longer asked and premiums for many Pa individuals and families have reduced . Highmark , Aetna , Keystone and Capital Blue Cross are just a few of the best options . Monthly rates could easily range from free to may hundreds of dollars each month , depending on your subsidy , age and other factors . As an experienced Pa broker with a top-rated website , our job is to help consumers navigate the waters of the State Health Exchanges and find the lowest rates for the best coverage . That ensures folks like you that you remain well-informed and continue to get the best rates .


Input: How Much Does Medicare Pay For Eye Exams?

Output: Typically Medicare does not cover vision . If you have glaucoma - then it becomes a medical issue and your appointments with your eye doctor can be covered . IF you have cataracts , Medicare will pay for a pair of glasses or contacts after your cataract surgery . But make sure the supplier of such is contracted with Medicare . If , however , it is a `` routine eye check '' , say for new glasses or contacts , it is not covered by Medicare . Hope this clarifies ! Belinda WEBSITELINK


Input: Why Does Someone Need Renters Insurance?

Output: If you are sued it could bankrupt you . If a fire sweeps through your apartment , you could lose everything that you own . If your unit becomes uninhabitable because of a fire it might cost you more to find alternative living space . If your landlord requires that you have a renters policy . In the final analysis it is a matter of what could you lose .


Input: Why Does Someone Need Renters Insurance?

Output: Great question ! Anyone who will be putting their belongings into a home owned by someone else , and who does n't have the money to replace it all should it be stolen or destroyed needs renters insurance . It is a common mistake to believe that the landlords insurance covers you , but it only covers what they stand to lose , not you . Renters insurance is relatively inexpensive , and can really be a blessing if your home is damaged , or you are robbed . If you would like help , please feel free to contact me . Thanks for asking !


Input: Why Does Someone Need Renters Insurance?

Output: Jim has told you why you should have renters insurance but let me tell you about which type . You basically have to options , current value or replacement value . Ask yourself if you have the money to replace your tv ? Current value will only give you what it is worth now versus what it costs to replace it new .


Input: Why Does Someone Need Renters Insurance?

Output: There are two basic reasons why you would need Renters ' Insurance . First , if you are required by the building owner to have it as a condition of your lease . But to me , the most important reason to have it is because you may be renting your home , but you own your personal property and have worked darned hard to get it . So unless you happen to have an extra $ 50,000 laying around , talk to your Insurance Professional about buying a Renters ' policy that will guarantee to replace everything at full current value . It 'll be one of the smartest $ 300 purchases you may make .


Input: Why Is Car Insurance More Expensive For Young Drivers?

Output: Generally speaking , yes , car insurance premiums tend to be higher for younger less experienced drivers . Certainly rates can vary between companies , but paying a bit more for your youthful driver should be something for which you plan . Talk to your Insurance Professional about taking advantage of any available discounts . Your company may offer such discounts for your young driver attending and graduating from a Drivers Ed class . Keeping their grades at `` B '' or better may also help . If you have less cars than drivers , your child could qualify for `` Occasional Driver '' rates .


Input: Why Is Car Insurance More Expensive For Young Drivers?

Output: Rates vary from carrier to carrier and geographic location to geographic location . There are many factors that used to help determine your auto insurance premium . Every carrier has set it 's own standards as to the risks that they are willing to take on as a company within an area . If you feel that your rates are higher than they should be then contact other agents in your area to find out how their rates stack up to your current rates .


Input: What To Look For When Getting Health Insurance?

Output: 1 . Is there an annual deductible ? 2 . What is the maximum annual out of pocket costs ? 3 . What does it cost to see a doctor ? 4 . What is the cost of lab work and x-rays ? 5 . What is the cost of outpatient surgery ? 6 . What is the cost of a hospital stay ? 7 . What are the wellness benefits ? 8 . What do prescription drugs cost ? The most important question to ask with respect to buying health insurance now is are my doctors in the network ?


Input: What Is The Best Insurance To Go With Medicare?

Output: The best plan is one that fits your incdividual needs and budget . Medicare supplement plan F offers the most coverage however it is obviously the most expensive . Since Medicare Supplements are standardized by the government there are no differences in the plans except for premium . But do n't let premium be your onl ; y deciding factor . I have seen companies go into a State with very low rates only to increase those rates by as high as 30 to 50 % withing a year . Also most plans are attained age rated meaning that you will get a rate increase each year just because you got older . These plans are less expensive in the younger years but when you get older they can become unaffordable . A good agent will explain your options based upon your health , finances , and travel habits . That is why I recommend finding a good local agent with experience in the senior insurance market with a good reputation . There are too many agents out there looking to just make a commission . Buying insurance over the internet is risky because you may not know all the information a good agent may have .


Input: What Is The Best Insurance To Go With Medicare?

Output: `` Best '' is a subjective decision at best . Each individual should decide for themselves which Medicare supplement plan -LRB- Medigap -RRB- is best for their needs and budget . Older people and those who use tobacco will pay a higher rate than those who are 65 and do not use tobacco . The most expensive Medigap plan is plan F . It is also the one most agents push because it is easiest to explain and pays them the highest commission . If you are looking for the best overall value , find an agent that puts YOUR needs ahead of their own and takes the time to show different plans through multiple carriers . #GeorgiaMedigapPlanRates #GeorgiaMedicarePlans #GaMedigapQuotes


Input: Long Does Take Get Life Insurance After Someone Dies?

Output: The short answer is , it depends on the company . Some companies will pay with the notification from a funeral home . In that case a check could be in route within 24 hour or so . However , most insurance companies require a certified death certificate along with their claim forms . The process and time in getting the death certificate can vary by state and county . A Life Insurance agent will be able help you with the claims process at no charge .


Input: Long Does Take Get Life Insurance After Someone Dies?

Output: Most companies do try to pay claims within 30-days of receiving the certified death certificate and claim form . Some things that can slow down the claim are : 1 . Doctors who take weeks to sign off on the cause of death . 2 . If an autopsy is performed it can greatly slow things down as you have to wait on lab results . 3 . A funeral director could slow up the death certificates if he does n't apply promptly . 4 . If the life insurance policy is less than 24-months old it will always take much longer because the policy is contestable and they will review all medical records . This can add months to the claim . True funeral Preneed insurance will pay within 24-hours and the lack of a death certificate does not slow down the claim . A couple of final expense companies have adopted this claims process also . If you need your money quicker and the policy is more than 2-years in force , any funeral home can work with an assignment company and get your life insurance money for you within 48-hours but a fee of 3 % or more must be paid to the assignment company .


Input: What Is Guaranteed Standard Issue Disability Insurance?

Output: Guaranteed standard issue disability insurance , also referred to as GSI , allows large groups of clients to receive disability insurance without having to go through medical or financial underwriting . Youll receive many of the same riders , elimination periods and occupational classes as you would if you were applying for DI individually . GSI also provides coverage to employees with pre-existing conditions !


Input: Can I Use The Insurance Policy To Cover Accident While Driving A Friends Car?

Output: Insurance follows the vehicle in Ohio . Your insurance would only apply if the vehicle you were operating was uninsured . It is my understanding that most states follow this logic . If you were injured you may be compelled to seek injury coverage from your own insurance . In Michigan under their no-fault law everyone seeks protection from their own insurance first .


Input: How To Buy Annuities Online?

Output: Buying annuities online usually just involves reviewing annuity prices and products and getting to the point where the actual purchase is made . Variable annuities are much more restrictive ; in this answer I am just addressing Fixed and Indexed Annuities . With non-variable products , the annuities can be compared , discussed and materials shared by phone , email , mail and fax . The most effective way is to have your agent share his/her computer screen with you , with both of you on the phone or webinar so that questions can be asked and answered right then and there . To actually buy the annuity , the agent most likely will arrange to meet you face to face to review the materials in person , collect the premium and obtain signatures in his/her presence . There are a handful of situations where the entire process may be done remotely .


Input: What Is The Cash Value Of My Life Insurance?

Output: The cash value is the amount the insurance company would pay you today , after any surrender charges or loan payoffs , if you canceled your coverage . You can contact the servicing agent or the life insurance company direct requesting the current values of the policy . They should also be able to tell you the policy 's basis -LRB- premiums paid -RRB- . Any cash value received over basis is gain and subject to income tax .


Input: What Is The Cash Value Of My Life Insurance?

Output: If you have a Term insurance policy the answer is Zero . If you have any form of `` permanent '' life insurance you should have your agent review your policy with you annually to see exactly where the policy stands compared with the projections given in the illustration at the time of buying the policy . You should be receiving an annual report , which should tell you what your current cash value is , but if you have n't received this report you can request an `` in force illustration '' and that will give you your up to date figures .


Input: What Is The Cash Value Of My Life Insurance?

Output: Premiums paid into a life insurance contract expense the policy costs and then apply a crediting method , interest rates , indices or market equities and/or bonds resulting in the net cash values or cash value account . And depending upon when you access cash values there may be surrender charges resulting in cash surrender account .


Input: How To Select Renters Insurance?

Output: When seeking insurance coverage , the first and most important step is to find yourself a local agent that you are comfortable working with as they will be your first point of contact when you have questions about coverage or other concerns . The second step is to get the coverage that you need .


Input: Can The Owner Of A Life Insurance Policy Be The Beneficiary?

Output: Yes , the Owner of a life insurance policy can be the Beneficiary . Often , the reason someone chooses to own a policy on someone else is to mitigate the financial loss they would incur if the insured person would pass away . The Owner naming themselves as Beneficiary is the avenue by which they receive the life insurance proceeds and accomplish the purpose of the policy , if death of the Insured indeed occurs while the policy is in force .


Input: How Much Income Does Disability Insurance Replace?

Output: First understand there are two basic types of disability insurance . The first is a short term disability plan . These benefits are usually a fixed amount not to exceed 70 % of your current income and can start paying almost immediately . These short term plans can pay daily , weekly or monthly but for a shorter period of time usually a few months to up to one year . The second type of disability is long term disability plans . These benefits have a longer elimination period usually 30-60-90-180-360 days before benefits commence but will pay for years or up to age 67 years old . Most long term plans will pay up to 70 % of your current income at time of claim .


Input: How Much Income Does Disability Insurance Replace?

Output: Disability insurance replaces a percentage of your gross monthly income , often in the 60 % to 75 % range . In some cases , with very high incomes , the percentage is lower , like 40 % to 50 % . Personally owned and personally paid disability insurance is usually a tax free benefit at time of claim ; this is one reason for the reduced percentage . Another reason is that the insurance company must maintain an incentive for people to return to work ; you should always make more money working than collecting disability insurance benefits .


Input: Can You Legally Require Renters Insurance?

Output: Consult your attorney over legal questions , but it can be very easy to insert an insurance requirement into a lease agreement . Think about it . On a Homeowners ' policy you are required to have insurance by your mortgage company and to have them named on the policy . They do that because they want to make sure that thier interest is protected . Frankly , I always advise my clients who have rental properties to have such a clause included in the rental agreement . Having such proof of coverage in force for your tenant protects your interest as the property owner .


Input: Can You Legally Require Renters Insurance?

Output: Based on my current education and limited experience within my geographic area , a landlord or property owner may require renters insurance through their rental or lease agreement . Renters insurance is coverage that every tenant should have . It is typically very low and provides personal liability and personal property coverage up to the policy limits .


Input: What Is The Average Cost Of Whole Life Insurance?

Output: All premium quotes are dependent on the final underwriting outcome based on health , gender and age of the proposed insured . Heres an example , more of a rule thumb . Participating Whole Life Insurance purchased as a base policy with no riders is generally 20 % over its guaranteed universal life -LRB- GUL -RRB- counterpart . A 30 year old male nonsmoking with super preferred health covering $ 100,000 of GUL is averages around $ 550 annually with the top 25 the leading life insurance companies . The average participating whole life policy should come in around $ 675 annually . Always check the rate quoted by any online life insurance service to confirm the cost before moving forward .


Input: What Is The Average Cost Of Whole Life Insurance?

Output: The average cost of a Whole Life insurance policy largely depends on the age of the applicant , his/her health conditions , the face amount , and the carrier that is providing coverage . While it is easy to provide an average number -LRB- $ 500 - $ 900 -RRB- , it would be a bit misleading . There are simply too many variables to accurately provide specifics . Typically , among term , UL , VL and Whole Life plans , Whole Life will be the most expensive . Prices can certainly vary , including the dividend scale -LRB- if a participating policy -RRB- and guaranteed cash values . Let an experienced broker shop different companies for you so you find the most suitable policy .


Input: How Does A Fixed Annuity Work?

Output: A fixed annuity is all about guarantees . The insurance company guarantees to pay a specific amount of money every month for the rest of your life , in exchange for a fixed amount of money . The company guarantees both the principal and the interest making it an absolutely stress free program for you . It addresses the number one concern of retirees , that of living too long .


Input: How Much Homeowners Insurance Do I Need In Minnesota?

Output: You need an agent to run a `` Replacement Cost Estimator Tool '' with your specific home in mind . This is not information that you can access without an agent . You can see what you are currently insured for on your declaration pages of your policy to give you some idea . However , that information is often old and out of date . If you need more info call me , Brad @ 651.300.0788


Input: How Long Does Life Insurance Take To Pay Out?

Output: Insurance companies will say that it can take from one to two months for a life insurance policy to pay the death benefit after they receive the claim form and certified death certificate . I asked someone today who had just collected on several small policies , and she said the shortest was about a month .


Input: How Long Does Life Insurance Take To Pay Out?

Output: In Ohio , upon receipt of a written proof of loss , the insurer must pay death claims immediately -LRB- most states interpret this to be within 30 days . -RRB- Check your state law to verify . If there is no beneficiary named in the policy , the death proceeds are paid to the estate of the insured . An insurer can not delay the payment of a death claim until the settlement of the estate of the insured has been completed . I


Input: How To Cancel A Globe Life Insurance Policy?

Output: The best way to cancel a Globe Life Insurance policy , or any life insurance policy is to call the customer service department and tell them your plan . They will give you specific information for that carrier . However , you would also be wise to contact your bank or credit union and have them stop the monthly EFT payment . If you need coverage , make sure you have it in place and active before you cancel .