Input: Why Were Medigap Plans Implemented?

Output: Medigap policies came into being because Medicare does n't cover everything . And what it does cover , it does so with deductibles and co-pays . The deductible for a hospital pay is over $ 1200/stay . The co-pays for physicians services and tests are about 20 % . Medigap plans came into being to protect the consumer from high unexpected out-of-pocket costs .


Input: Does Having Life Insurance Affect SSI?

Output: When applying for SSI , it is allowable to have $ 1,500 of cash value in a Permanent life insurance policy . If the policy is Term life insurance , there is no limit on the amount of life insurance that can be owned while applying for and receiving Supplemental Security Income benefits .


Input: Can Type 1 Diabetics Get Medicare?

Output: Type 1 diabetics can getMedicare . Type 2 diabetics can get Medicare . If there was a type 3 diabetic , they could also get Medicare . Re Medicare Supplement plans -LRB- Medigap -RRB- , during an Open Enrollment , you can also purchase a plan regardless of your pre-existing conditions . So obviously , that 's the time to buy a Medigap plan if you are in poor health .


Input: Who Regulates Homeowners Insurance Companies?

Output: Insurance products , Homeowners Insurance included , are regulated on the state level . Each state has an Insurance Department which is part of the executive administrative departments of the state government . These are usually if not always overseen by an appointed Insurance Commissioner . These departments handle everything insurance related from company and broker licensing , company filing approvals and management of state insurance regulations .


Input: When Does An Insurance Company Total A Car?

Output: That is a great question ! An auto insurance company will generally total your car when the cost of the repairs is near to , or exceeds , the approximate retail -LRB- Sometimes referred to as the `` Blue Book '' -RRB- value of the car . As the retail value is much lower in cars that are several years old , these cars are more likely to be totaled . I hope that helps , thanks for asking !


Input: When Does An Insurance Company Total A Car?

Output: Typically , cars are considered to be totaled when the cost to repair the vehicle is higher than the actual cash value -LRB- ACV -RRB- of the vehicle . Practically speaking , however , it is not always practical to repair a vehicle , even if the cost of repair is less than its ACV . A vehicle worth $ 4,000 requiring $ 3,000 in repairs might be considered totaled by an insurer even though the cost of repair is less than its value before the accident . Insurance companies will typically consider such a vehicle to be a total loss , even though the repairs are only 75 percent of ACV . Visit my website at WEBSITELINK to read about more coverage details and resources .


Input: When Does An Insurance Company Total A Car?

Output: That usually happens when the cost to repair a car is greater than the actual cash value -LRB- ACV -RRB- or `` book value `` of that car . Now , after an accident it may be difficult to determine the final repair total because there is more than likely going to be damage that can only be seen when the car starts getting torn down . As a result , a pretty good rule of thumb is that if the initial repair estimate meets or exceeds 70 % of the value of the car , it is likely that the company will total it at that point .


Input: When Does An Insurance Company Total A Car?

Output: A vehicle is typically considered totaled , when the value of the vehicle costs less than the expenses to repair or fix the car . This typically happens with older cars , as opposed to newer ones . You can negotiate -LRB- a little -RRB- with the adjuster and/or insurer to secure a settlement that is acceptable to you . LIVE answer provided by : Ed Harris - Premier car insurance broker for 33 years and owner of several of the nation 's top-rated websites that offer the lowest available rates .


Input: Will Renters Insurance Cover Dog Bites?

Output: Renters insurance will cover a dog bite under your liability coverage if you are deemed responsible and there are not any exclusions contained within the policy regarding the loss situation . If you have a dog that has been responsible for injuring someone you may have a difficult time finding a carrier that will provide coverage or you may pay a higher premium for that coverage . Contact a local agent to find out what coverage and exclusions are available amongst what they have to offer .


Input: Will Renters Insurance Cover Dog Bites?

Output: When purchasing renters insurance you want to be very clear in disclosing the breed of dog you own . Many insurance carriers will exclude certain breeds of dog and failure to disclose can get your claim denied . While dog bits can be covered it is very important to have a discussion with your agent about your breed of dog .


Input: Will Renters Insurance Cover Dog Bites?

Output: Most renter 's policies have liability coverage that will cover you in the event of your dog biting someone . But please be aware that if your dog has a history of biting , and if your dog bites someone , you may or may not be covered . It all comes down to which carrier you have because every company has different rules and regulations . Great question ! Thank you for asking !


Input: Is Vision Covered Under Medicare?

Output: Vitalstim is not covered by Medicare for the treatment of dyspahgia . They have explained that the treatment is experimental and has not proven to be effective in treating swallowing difficulty . Neuromuscular Electrical Stimulation -LRB- NMES -RRB- can be covered for non-neurological reasons for disuse atrophy and for walking in patients with spinal cord injury .


Input: Is Vision Covered Under Medicare?

Output: Some things associated with vision are covered under Medicare and some are not . Routine eye exams are not covered by Medicare . Even if you start out taking an routine eye exam and it is determined during the exam that you have eye conditions qualifying for Medicare funded treatment , only subsequent exams for those conditions will be covered . Medicare does cover glaucoma testing for those at risk for glaucoma due to certain conditions or family history . It will cover medically prescribed exams , testing , and treatments for eye conditions that result from illness or injury . Medicare does not cover eyeglasses . It will cover an IOL following a cataract surgery and eyeglass as a prosthesis during cataract surgery recovery .


Input: What Does Medicare Cover In Arizona?

Output: Great Question . Medicare in Arizona as in most state would cover basic things like doctor visit . Medicine and hospital stay . Other folks get also what is called a supplment medical as well to pay for the extra things that the state medicare plan does not cover that would be a good idea .


Input: What Does Medicare Cover In Arizona?

Output: Medicare is a national health insurance program . This means that the coverage you have in Arizona is exactly the same coverage you would have in any other state . You can use your medicare all over the country exactly as you could here as long as the doctor accepts medicare . Medicare Part A Covers inpatient hospital care , skilled nursing facility care , hospice and some home healthcare . Medicare Part B Covers , ambulatory services , durable medical equipment , mental healthcare , outpatient medical treatment , and limited outpatient medications .


Input: Who Gets Disability Insurance?

Output: Anyone who wants to protect their income should get disability insurance . DI pays a percentage of your income should you become sick or injured and unable to work . The average American only has 90 days of cash reserves , so DI can help the insured maintain their lifestyle without having to drain their savings .


Input: Who Gets Disability Insurance?

Output: People who get paychecks get Disability Insurance . DI is insurance that pays you cash if you are unable to draw a paycheck due to an injury or illness that prevents you from being able to perform the duties of your job in a timely manner . People who rely on their paychecks get DI so that they have some income coming in during times of temporary or permanent disability .


Input: What Is Employee Sponsored Health Insurance?

Output: Employee sponsored health insurance is when your place of employment provides your healthcare . Often it is affordable if they are paying most of the premium . Sometimes it can be very expensive . In those types of situations , you should consider purchasing private coverage through reputable and trusted brokers . If they have a website that is kept up-to-date , that will also be helpful .


Input: Who Can Borrow Against Life Insurance?

Output: Only the owner of a permanent life insurance policy can borrow against life insurance . Term insurance does not have cash value , so only those who own Whole or Universal Life will have the cash value from which to borrow . If the owner and insured person are two different people , the insured person can not borrow against the policy . That privilege belongs only to the policy owner .


Input: Why Was Medicare Part D Passed?

Output: Medicare Part D was passed mostly for political reasons . In an attempt to pick up support from the over age 65 crowd , Medicare Part D drug plans were created . In doing so , many drugs increased their price significantly especially if the drug was used primarily by seniors with Medicare coverage .


Input: How To Buy Fixed Annuities?

Output: Fixed annuities are relatively complicated . Find a life insurance agent who is licensed to sell annuities and make an appointment . Be sure to tell the agent your objectives . He should listen to you , provide solid financial advice and communicate clearly with you and with the insurance company . When purchasing the annuity makes sure you understand surrender charges .


Input: Is Life Insurance An Investment?

Output: Permanent life insurance accumulates cash values that can be used while the policy holder is still alive , in addition to providing a death benefit to the beneficiary noted on the policy when the insured person passes . Because the policy performs both functions , it is hard to compare to investments that do not also provide death benefit protection .


Input: Is Life Insurance An Investment?

Output: Life insurance is , at its core , protection against loss . Term life insurance is `` pure '' protection , as it has no cash value . Permanent insurance combines pure protection with accumulation of cash value . Whole and Universal Life policies usually do not exceed a certain amount of cash value so that they keep their tax favored status . If they are overfunded , or if Indexed or Variable products are used , the policy may become a modified endowment contract and gains are subject to income tax . Some people call that type of policy an investment .


Input: Is It A Law To Have Renters Insurance?

Output: California law does not require tenants to purchase a renter 's policy . The tenant should understand that they have two major liabilities . The first is that someone could be injured while in the property owned or controlled by the tenant . A resulting lawsuit could be devastating . The second is that although the landlord routinely insures the structure he or she does not provide any coverage on the tenant 's personal property located inside the structure . This means that all you own could go up in smoke ! These policies are relatively inexpensive and should be given serious consideration .


Input: Is It A Law To Have Renters Insurance?

Output: I do not know of any state law that requires that one have Renters Insurance . Certainly it is not the law of the State of Connecticut . However , the law does not prohibit a property owner from requiring that their tenants carry renters insurance . Talk to your insurance professional about your needs and seriously consider renters insurance for your own protection and peace of mind .


Input: Does Life Insurance End At A Certain Age?

Output: All policies end when death occurs . If the policy is in force at the time of death , the policy will pay the face amount at that time . When you purchase Term Life Insurance , you decide at that time when you want your coverage to end . It corresponds with the number of years in your Term policy . As a rule , the older you are when the policy ends , the higher the premium will be . But you also have to consider that , if you want to purchase a new policy after this one ends , the price on the new policy will be much higher , or you may not be able to qualify for the amount of coverage that you want at that time . So locking in the premium for a long period of time while you are healthy is a good idea , if you need the coverage for a long period of time . Permanent life insurance ends when the policy matures , at which time you can take the face amount in cash . But most people choose to keep the policy in effect beyond that , until death .


Input: Does Life Insurance End At A Certain Age?

Output: It usually does . Term life insurance policies often reach the term limit . A policy might have a provision for continuous coverage but the customer can not afford the coverage . Permanent life insurance policies are more likely to result in a death claim because they are designed to last a lifetime . There are several types of permanent policies and not all have the guarantee of a life time of coverage for a fixed premium .


Input: Does Life Insurance End At A Certain Age?

Output: All life insurance has a maturity date . Term insurances expire after a set number of years . You can continue these plans with higher premiums beyond this date , but in most cases this is more expensive than it ' a worth . Whole life and Universal life policies also have a maturity date . Often this is when the person covered by the insurance turns 90 or 121 . With these policies , the cash value is then given to the owner of the policy .


Input: Does Life Insurance End At A Certain Age?

Output: That is an excellent question ! Yes , some do , and it can be long before the insured passes away in many cases . Term life insurance policies have a specific end date , that is stated in the contract . There are a few major companies that deal with senior citizens that advertise a life insurance policy for them that ends at the age of 80 . But because of the slick advertising , many seniors buy it without understanding what happens if they live to be 80 and a day . Whole life policies will last as long as you do . they have an `` endowment age '' that is usually 100 , or 121 years old , and if you live to be that old , it either pays out the benefit to you , or continues at no cost . It is always best to consult with a trusted agent before purchasing any policy . Thanks for asking !


Input: Does Life Insurance End At A Certain Age?

Output: As my colleagues have said , in addition to cost , there is a difference between Term Life policies and Permanent Life policies . With Term policies , one usually purchases a contract for a specified number of years , 10 , 15 , 20 or 30 for example . Once the specified number of years is up , the policy will lapse unless the insured has exercised a conversion of the coverage to a Permanent form , if that option is available . A Permanent form is a bit different in that they are designed with the idea that the insured will maintain the policy throughout their life . In many cases these will `` mature '' at age 100 and annuitize .


Input: Does Life Insurance End At A Certain Age?

Output: Term life insurance , if paid each month , can continue for decades , but rates will escalate after the set number of years of the term . Whole Life , or cash value life insurance , if paid each month , or if paid from cash accumulation , or if prepaid , will continue until death . Many policies will end at a certain age , usually around age 120 , but will then pay the amount of the policy in full , as if death had occurred . You should discuss this with an experience Life Agent . We deal with these issues all the time . Thank you . GARY LANE .


Input: Does Health Insurance Work In Japan?

Output: Your health insurance plan should cover most of your medical related claims while traveling in Japan -LRB- or any other country outside of the US -RRB- . Most US health insurance plans work as reimbursement contracts outside the United States . It is always a good idea to purchase an international travel medical insurance policy to cover items not included in your major medical plan .


Input: What Is The Difference Between Long Term Care And Long Term Disability Insurance?

Output: Long Term Care And Long Term Disability Insurance are both morbidity insurance products . Long term care insurance protects extended care risk of assisted living and nursing home care . Disability insurance is paycheck insurance that protects your income during periods of disability when you cant work .


Input: How Much Is Medicare Surcharge Levy?

Output: High income seniors will pay a surcharge in addition to their Medicare Part B premium . Depending on your income , single seniors with incomes in excess of $ 85,000 and married filing jointly with incomes above $ 170,000 may pay a penalty -LRB- surcharge -RRB- . In 2013 your total Part B premium could be between $ 147 and $ 386 per month .


Input: What Annuities Are Best?

Output: It depends on the reason for the annuity and what your goals are . Most annuities are built on the same chassis . Then they add extra features to differentiate them and target specific needs . Look for a financially strong company that has the feature you want . It is best to sit down with a good adviser who represents many companies and let him help you find the company that best suites your individual circumstances .


Input: What Annuities Are Best?

Output: First you have to establish a financial profile and risk tolerance of the saver or investor . Secondly , you need to establish the planning goals . Annuities should be purchased as an ultimate income solution . The deposits in annuities can be credited with an interest rate , an indices -LRB- domestic and/or foreign -RRB- or equities/bonds in separate sub accounts in variable annuities . Your deposits and the credited performance are tied to the value of you annuity account .


Input: What Is Reliastar Life Insurance Company?

Output: ReliaStar is a life insurance company under ING . ING-ReliaStar primarily focuses on ING 's term life insurance programs , TermSmart and ROP Endowment Term -LRB- ROP stands for Return of Premium -RRB- . The TermSmart programs will generally offer the lowest rates for ING 's term insurance programs . ING offers permanent life insurance programs are under their ING-Security Life Of Denver title .


Input: When Does Homeowners Insurance Go Into Effect?

Output: The start date of a homeowners policy is clearly displayed on the declaration page . The actual declaration page might not reach you for a few days ; however , most agents have binding authority and can issue a certificate of insurance which includes this start date for coverage . This is particularly important when there is a real estate closing .


Input: When Does Homeowners Insurance Go Into Effect?

Output: On the assumption that it is a standard issue policy and your Insurance Professional has binding authority granted by the insuring company , then you should expect that your coverage can begin either at the same time that you sign the application and pay the initial premium or at some time in the near future , your closing date if you are buying a new home for example .


Input: How Does Life Insurance Work?

Output: Video Transcript : Today 's question is , How does life insurance work ? Well , life insurance indemnifies or protects , or covers your liabilities . Let 's say you have indebtedness . Most people have a mortgage , and especially most mortgages today are dependent on two incomes . You 'd want to be able to cover both people that are involved in the mortgage so that if somebody died , they 'd be able to pay off their mortgage . But , not only that , you 'd want to be able to pay off all your credit cards , any other indebtedness you have and put money aside , bought through the death benefit for future obligations that you might have . Like for example , college education , or the retirement of the surviving spouse . These are areas where insurance indemnifies you from financial loss and gives your beneficiaries , usually , tax free benefits if something happens to you .


Input: How Does Life Insurance Work?

Output: Health insurance pays when someone is sick . Property insurance pays when there is damage to property . Life insurance pays when someone dies . It starts when people decide to get life insurance on themselves , or on others who have financial ties to them . They apply for coverage , comply with underwriting requirements -LRB- which may or may not include taking a free physical exam -RRB- , and then are issued policies . These policies include beneficiaries designated by the owners of the policies . When the insured persons in the policies pass away , their beneficiaries receive the amount of life insurance that was purchased by those policies . Of course , there are different types of life insurance that can provide cash value , additional benefits , etc. . But in a nutshell , that is how life insurance works .


Input: If i have family insurance with no dental through work, can I get CHIPS or medicaid dental for my kids with the state?

Output: That is a great question ! You sound like many of the people who found themselves between a rock and a hard place when it came to health insurance . Employers do n't offer dental , because of its expense to them , and if you earn too much , CHIPS and Medicaid are unavailable . Did you look into the Affordable Care Act -LRB- Obamacare -RRB- exchange for the dental policies ? The enrollment period is over , but go to the site www.healthcare.gov and walk through the steps to see if you can still qualify to get a plan . There 's a good chance that you qualify for a subsidy -LRB- hurry , before the Supreme Court decides on undoing them -RRB- to help pay for it . You can also find out whether you can get yourselves and the kids covered by the CHIPS or Medicaid programs . I walked through it using an example of 35 year old parents with two kids , and they qualified on earnings of $ 24,000 a year . The site is user friendly , and quick to tell you whether you qualify . If you need help , contact me and I 'll help you walk through it , okay ? Good luck , and thanks for asking !


Input: What Is A Deferred Annuity Plan?

Output: A deferred Annuity means your Taxes are not payed until you start taking money out of the account , tax-deferral . All Annuities have this tax deferral so it does not matter what kind of Annuity you get . An annuity is a contract between you and an insurance company . The annuity will credit money to your account according to the method which comes with the Annuity . There is so much more you need to know about annuities before you get one so please follow up with your Broker or contact me if you do not have one .


Input: When Should I Buy Long Term Disability Insurance?

Output: Long term disability insurance should be purchased when you are concerned about becoming disabled and losing an income stream . This often occurs at the time you accept your first job and build a bit of stability in the workforce . Of course , you will have to be able to afford premiums which is where a full-time licensed financial planner or broker can help . By utilizing their advice , you can view affordable options that will fit within your budget .


Input: When Should I Buy Long Term Disability Insurance?

Output: You should purchase long term disability insurance when you begin your working career to cover your compensation or , in the street vernacular , paycheck protection . The odds are that you will experience one disability event lasting 30 months over your working life are just too high to ignore . Most Americans have only 90 days of emergency funds .


Input: Is Renters Insurance Required In South Dakota?

Output: Renter 's Insurance is not required by state law , but many landlords will require that you carry renter 's insurance as part of your lease agreement . This is because Renter 's Insurance comes with liability insurance protection , so , in some cases , if you damage the premises , they can collect from your Renter 's Insurance policy . That coverage usually applies for accidentally created fires -LRB- for example -RRB- . Fortunately , most people can buy Renter 's insurance for about $ 10 - $ 12 per month -LRB- it might be less and some basic policies only cost about $ 5.00 / month -RRB- . Send me an email and I can get you a rate !


Input: What Are The Two Basic Types Of Life Insurance Policies?

Output: The two basic types of life insurance policies are Term and Permanent . Term insurance does not have cash value and is for temporary needs , because the coverage will end or have a big price increase at the end of the term . Permanent Life insurance comes in Whole or Universal Life . Permanent Insurance can be purchased to provide coverage for your whole life . There are many different features to Permanent coverage so it is important to discuss this type of insurance with a reputable agent before making your choice .


Input: What Are The Two Basic Types Of Life Insurance Policies?

Output: The two basic types of life insurance are permanent -LRB- whole life -RRB- and term life . Whole life insurance is designed to provide a death benefit from now until your last day . These policies grow cash value over time that can serve as an additional nest egg after retirement . Term life policies are coverages for a specific period of time . Many working adults use term life to protect their lives while their children are young to ensure they will be properly cared for if at least one parent were to pass away . Each type of policy has a few variations . For example universal life , variable life and final expense are all forms of whole life insurance . Income protection and mortgage protection are types of term insurance . Even though they fall under the two basic types of life insurance , they can all be used for different reasons depending on the consumer 's need .


Input: What Are The Two Basic Types Of Life Insurance Policies?

Output: There are two types of life insurance : Term and Permanent life insurance . Term life insurance is for a time certain period of coverage to indemnify your beneficiaries from financial liability . Permanent life insurance is for ongoing financial liabilities that may never terminate . Depending upon your age term life insurance issues at guaranteed periods of 5 , 10 , 15 , 20 and 30 years . Permanent life insurances can mature up to age 121 and some polices actually isle the life of the insured . Permanent life insurance can be classified into two categories : Par whole Life and Universal Life . Universal life has four policy platforms : Guaranteed universal life , current assumption universal life , indexed universal life and variable universal life .


Input: Will Your Car Insurance Rates Rise After Claim?

Output: Paid claims are a factor in determining the renewal premium for an auto policy . Companies look at claims that exceed a threshold amount , frequently $ 750 . Claims that are considered are those where the customer or whoever was driving his car is at fault . The increase in premium is not designed to recover what the company paid ; rather , it is an estimate of the increased risk of the drivers in the household and anticipates future claims .


Input: Will Your Car Insurance Rates Rise After Claim?

Output: Great question ! Depending upon the company you are using , the unfortunate answer is usually yes . Some companies however offer `` accident forgiveness '' benefits for people who have not made a claim previously , so I would advise that you check with your agent first , before filing , and see if that is available for you . Another thing to think about is the cost of the repair itself - will it be equal to or less than your deductible ? If so , you will pay that much anyway , it may not make sense to make the claim , and risk the increase in your premium ... If you need any help , please feel free to contact me . Thanks for asking !


Input: How Much Are Car Insurance Payments?

Output: Depending on your state and the area you live in . There many things that can affect your rates . In Montana your sex makes no difference but in some states males pay more then females Be careful when shopping online make sure that they are licensed in your state and it is recommended that you also have un insured and under insured for nearly pennies a day it covers your hospital bill when someone hits you and has no insurance . A Local agent can help you with all your insurance questions


Input: How Much Are Car Insurance Payments?

Output: Car insurance payments can vary between $ 30 per month to several hundred dollars -LRB- or more -RRB- per month . The cost depends on the types of vehicles you drive , your driving record , where you live and the coverage you have . An experienced broker can quickly shop for the best price and show you the best offers . That 's our job .


Input: What Are The Current Interest Rates On Annuities?

Output: The Current Fixed Interest Rates on Annuities average 2.95 % for 5 years , 3.25 % for 10 years . The rates can change quickly so always call your annuity distributor before using any quotes including these quotes . Most advisers are selling 5 year fixed with an expectation that rates are going to rise in the future . The 35 basis point spread between the 5 and 10 year rate is not enough go long .


Input: What Are The Current Interest Rates On Annuities?

Output: That is like asking what kinds of fish will I catch today if I just throw my line into the water . Interest rates on annuities are very different not only from company to company but product to product . Few people purchase an annuity for their interest rates unless the rate is guaranteed for 5-10 year periods . People mainly buy annuities for the no risk guarantees of having lifetime income . If you are comparing interest rates for the long term , annuities will compete . If interest rates are compared for the short term , annuities are not appropriate vehicles because of the surrender charges .


Input: What Is The Average Cost Of Auto Insurance Per Year?

Output: The average cost of auto insurance per year is going to vary from state to state and more specifically , person to person . Almost all -LRB- if not all -RRB- insurance companies look at an individuals credit score , among other factors , to determine their ` insurance score ' . If you have a lower insurance score , your premium will be lower and visa versa . It 's very difficult to determine the average without factoring in credit , state , year-make-model of car , how much you drive , and your experience level among a host of other attributes . The state of Oklahoma for example is on average , much higher than the state of Missouri . One of the biggest reasons is due to natural risk , or geographic risk . IE ... more storms in Oklahoma Vs. Missouri . I 'm sure a simple google search would provide an average vs all states and credit scores . Although I would be skeptical of that number generated due to all the variances that determine the price .


Input: How Much Will Insurance Pay For A Totaled Car?

Output: When a car is totaled , the insurance company will pay for the value of the vehicle at the time of the loss . Of course , mileage , condition and market value are several factors that impact the amount you receive . The `` Blue Book '' and `` Grey Book '' are two resources that are used to determine your payout . Often , you have some influence in the payout , so allowing a broker to help you research try values may put more money in your pocket .


Input: How Much Will Insurance Pay For A Totaled Car?

Output: A claim is settled . That means that both parties are agreeable to the amount . The insurance company will try to pay the going rate for a similar vehicle in like condition . Since that is obviously subjective , you as the policyholder dont have to accept the offer and may counter with an offer that is more suitable to you . At some point there is an agreement , a settlement or a lawsuit .


Input: How Much Will Insurance Pay For A Totaled Car?

Output: When a car is totaled , the insurance company will pay for the value of the vehicle at the time of the loss . Of course , mileage , condition and market value are sefveral factors that impact the amount you receive . The `` Blue Book '' and `` Grey Book '' are two resources that are used to determine your payout . Often , you have some influence in the payout , so allowing a broker to help you research try values may put more money in your pocket .


Input: How Much Will Insurance Pay For A Totaled Car?

Output: That is a great question ! Basically what happens is that the insurance company will refer to a resource like the Blue Book , or their company 's guidelines , and that is the amount that they will offer . It can be changed , if you had a stereo system , rims , or something else done to the car that would have increased it 's value from what a `` normal '' car same make/model/year would have . Do n't let them lowball you , ask for more . Often they will compromise with you , and pay more . Good luck , and thanks for asking !


Input: What Should Term Life Insurance Cost?

Output: Unfortunately , it is impossible to give a guideline on what Term Life Insurance should cost , because the cost varies so much from person to person . If you buy it when young and very healthy , and lock in the rate for a very short time , you can get it for under $ 10/month for $ 100,000 of coverage . If you buy it when older or while having serious health problems , and lock in the premium for the rest of your life , the premium could be over $ 300/mo for that amount . To find the best price for you , go to a website that offers instant quotes and input your information . Keep in mind that these quotes will need to be followed up by a phone call to verify accuracy , or at least by clarifying your health information on the application .


Input: What Should Term Life Insurance Cost?

Output: Unfortunately , there is no way to suggest a recommended premium for term life insurance , because life insurance does not have static rates for everyone . Term life insurance premiums are based on your age , gender , health , build , whether or not you smoke , and other factors . What may seem reasonable to someone with poor health is going to seem high to someone with great health . You just have to shop and find the best rate for you .


Input: What Should Term Life Insurance Cost?

Output: That is a great question ! The best thing about term insurance is that it is cheap . Insurance companies will statistically rarely have to pay out on them , and there are very few moving parts , so they can be offered very cheaply . The price will be based on the amount of insurance desired , the length of the term , and a host of physical details about the person to be insured . Please seek out an agent that can help you find the policy that is the right one for you , okay ? Please feel free to inbox me , if you 'd like , I 'm happy to help . Thanks for asking !


Input: Will My Health Insurance Cover Auto Accident?

Output: Health insurance covers accidental injuries most of the time . The company will ask about auto insurance just like they will ask if you were hurt at the workplace . They might force your auto insurance company to shoulder all or part of the claim arising from an auto accident .


Input: Will My Health Insurance Cover Auto Accident?

Output: If you are injured as a result of a car accident , your health insurance will usually cover you at some point . In some states , the law provides that your car insurance include a required amount of `` No Fault '' primary medical coverage . In this case , the claim would have to be submitted to your auto insurance carrier first and once that benefit is exhausted , the balance can then be turned over to your medical insurance provider .


Input: How To Calculate Annual Insurance For Home?

Output: In order to calculate your annual premium for home insurance , it is necessary to answer some basic questions about the risk and obtain a quote . Basic characteristics of the home will include the year built , square footage , type of roof , foundation type , number of bathrooms , style of home , prior claims and identifying information of the owner . You may obtain a quote and buy home insurance online using an online link in multiple States ; it may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: When Should Life Insurance Be Purchased?

Output: Life insurance should be purchased when you have a loved one that is dependent upon your income . Whether that loved one is a new spouse , new child or a new business partner . Whenever there is a potential for financial loss or debt to be repaid if you were to die today , then you should purchase the proper amount of life insurance .


Input: When Should Life Insurance Be Purchased?

Output: Life insurance should be purchased when your health is good , if possible . That is when you can get the lowest rates . However , many people are born with health conditions that prevent them from qualifying for the best rates , and many other people do not think of purchasing life insurance until a health scare arises . While they will pay more , that is no reason to avoid getting life insurance . If anything , persons with poor health need it more , and appreciate whatever protection they can leave their loved ones .


Input: Why Is Life Insurance Important?

Output: Life insurance is important to many people because it is the only way they will ever be able to afford to leave money for their loved ones and financial obligations . Saving up $ 100,000 can take some people a lifetime . However , purchasing a $ 100,000 life insurance policy is affordable for most people . There are many other reasons that life insurance is important , to different people , for different reasons . In my experience , though , no reason reaches the level of importance in the minds of those who buy life insurance , as the reason above .


Input: Why Is Life Insurance Important?

Output: Life insurance is because we love . When we love we draw from each other and that stops when a person dies . There are usually messy details that require money when a person dies . If you love you can provide the money necessary to make sure that those you love dont suffer just because you have left them . In fact your wildest dreams can be realized with life insurance .


Input: Why Is Life Insurance Important?

Output: Life Insurance is important , especailly if you are married and plan to have children because it allows you to save money while planning long range . Life insurance is an important piece of the total financial plan that enables tax management strategies , and if you are young by using stock based life insurance enables investment strategies that can build assets while you are in essence doing `` dollar cost averaging '' which minimizes your risk by buying stocks at a regular interval based on the current price of the stock . Before this administration began the `` stock market on steroids '' the share price of stocks fluctuated and the ability to buy at a regular interval meant your overall price per share was decreased while over time the net value per share increased . Life Insurance can enable you to know that you will have the funds to educate the children while at the same time if an emergency happened you had the financial stablity to piece your life back together and continue living a life full of dreams and promises . Life insurance becomes an important piece of the financial plan that enables Estate Planning thereby enabling the parent to pass assets to the children while minimizing tax consequences . For the business owner there are many business planning strategies using life insurance to reach your financial goals .


Input: How Much Will My Car Insurance Rise After An Accident?

Output: It may not rise at all . This is really dependent on your insurance carrier and your past claims and motor vehicle history . If this is your first accident you may lose a claims free discount if you currently have one . If your rates do go up , you will not see the increase until your next renewal .


Input: How Much Will My Car Insurance Rise After An Accident?

Output: That really depends upon your policy and your state 's regulations . Talk to your Insurance Professional about the specific terms and conditions of your policy . If you do file a claim , some companies will not rais rates for your first accident if you have either purchased that option or if you are a long time policy holder and that benefit is built in . Some if not all states will not allow a surcharge unless the loss tops $ 1,000 . If one is imposed , then it will come on the anniversary renewal of your policy and will be included for upwards of 3 years normally .


Input: Does Costco Sell Term Life Insurance?

Output: I believe Costco does sell some health and life insurance in a few states through Aetna and Manufactures Life Insurance Co. . These have lower face amounts and lower terms like 5 to 10 years . I recommend if you need term life insurance use an experienced independent life insurance broker who can shop many companies to find the best term life at the best price for your unique situation . Be careful with one size fits all plans .


Input: Where Should I Buy Home Insurance In Pennsylvania?

Output: You may ask any independent insurance agents in your area to offer you a quote on your home insurance . They will be able to help you shop around for the most competitive companies and still be in your neck of the woods if you ever have questions or need a face to face review .


Input: Does Hawaii Have State Disability Insurance?

Output: Hawaii requires that employers with a quarterly payroll of $ 225 or more provide a minimum Temporary Disability Insurance -LRB- TDI -RRB- plan to persons who have worked at least 20 hours per week and for a time peirod of at least 14 weeks in Hawaii . The state of Hawaii itself does not administer a state Disability Insurance Plan .


Input: How Much Does Health Insurance For A Baby Cost?

Output: Depends on what plan you have . If you have group coverage through an employer , it would be whatever the difference is from employee only to employee plus child -LRB- for those with a spouse , employee and spouse to employee plus family -RRB- . If you have an individual plan , it would be whatever the difference is from your existing price to what it would be to add a baby . I know those do n't sound like great answers , but that 's what your calculations would be in short . To get exact figures , you would need to consult with your health insurance agent . However , having a baby is a qualifying event that grants you a special enrollment period to look for new coverage in the marketplace which is something you should consider . A health insurance broker can work with you on a personal level and help you determine which plan will be most suitable for your specific needs and budget . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much .


Input: Can I Be Denied Medigap Coverage?

Output: You can be denied Medigap coverage if you have serious pre-existing health conditions . Once your Part B Medicare coverage is activated at age 65 or older , you have six months to enroll in a Medicare Supplement without having to answer any health questions . After your Open Enrollment Period ends you can enroll in a Medigap Plan at anytime , but you could pay a higher rate or be denied coverage for serious health problems .


Input: Can I Be Denied Medigap Coverage?

Output: Medicare Beneficiaries who are in their Initial Open Enrollment Period -LRB- the one time only 6 month period when federal law allows you to buy any Medigap policy sold in your state -RRB- can not be declined a Medigap Policy . However , if you are out of your Initial Open Enrollment Period , you will have to qualify for a Medigap policy based upon the insurance company 's medical underwriting guidelines . There are certain situations that allow Medicare Beneficiaries to obtain Medicare Supplement insurance without worry of being declined . You can not be declined for Medigap insurance if you have a Guaranteed Issue Right . A Guaranteed Issue Right may be obtained if your other health insurance coverage changes . Definitely consult Medicare or an independent agent to find out if you have a Guaranteed Issue Right . If you dont qualify for Guaranteed Issue and youre no longer in your Initial Open Enrollment Period , you 'll have to answer the health questions on the Medigap application . Each insurance company has their own unique set of questions and underwriting guidelines . Your specific health issue may be a concern with ABC insurance company but not with XYZ insurance company . The best way to see if you can get a Medigap Policy is by working with a Medicare Supplement Specialist who can shop the independent market to help you determine if there are companies that meet your unique health situation .


Input: Will I Need Long Term Care Insurance?

Output: You will only need long term care insurance if you are unable to take care of yourself at some point in your life . This can be due to illness , physical limitations , or loss of mental functioning . If you do not have long term care insurance , you will need to pay for your care another way . Medicare may pay for some of it at the start , and Medicaid can pay for it after your resources have been depleted . If you have long term care insurance , the policy will pay for those services after the elimination period you chose has passed , and for as long as you set the policy up to pay them .


Input: Will I Need Long Term Care Insurance?

Output: Whether you will need long term care insurance only time will tell . If you have enough money available to be able to pay a care facility $ 10,000 or more a month for an unlimited amount of time , then no you do not need long term care insurance . As Peggy said above , long term care insurance is designed to pay for or help pay for care assistance if you should become unable to care for yourself . Who knows if that will happen to you ? So again only time will tell .


Input: What Can I Do To Lower My Homeowners Insurance?

Output: There are few adjustments to a homeowners policy that I would recommend . If you raise the deductible there will be a decrease in premium . That means that when you have a claim , your portion of the claim will be greater . I recommend that you do not lower the liability limit . A lawsuit could bankrupt you . The only other thing that you might try is to see if other companies will charge as much to insure your home .


Input: What Qualifies You For Disability Insurance?

Output: The first consideration is your health condition to qualify for disability insurance . The next step is to establish earned income . The third is determining the benefit limit for your compensation . Once you are pre-qualified in health , earnings and compensation cap , you should select which tax strategy you qualify for : you can insure up to 60 % of your compensation tax free with nondeductible premiums or insure up to 80 % of your compensation taxable with deductible premiums through a business benefit arrangement .


Input: How To Buy Life Insurance For A Parent?

Output: To buy life insurance for a parent , start by contacting an agency that specializes in final expense life insurance . I have found that when a child is buying life insurance for a parent , most parents would rather not take an exam . Final Expense Life Insurance agents have a broad range of policies , and can accommodate that desire to avoid an exam , if that is preferred . You will want to gather your parent 's health history , or have your parent prepared to get on the phone to answer health questions with a life insurance representative . A list of their medications and incidences of illness or hospitalizations in the past 10 years are helpful to know to get the best price . If you want the policy to be for final expense needs , you will most likely want permanent life insurance . Be sure to get a policy that will not go up in price , or you could end up being unable to afford the policy before it is needed .


Input: Does Renters Insurance Cover Injuries?

Output: It may depending on whether or not you are deemed responsible for those injuries and to whom those injuries occured . Renters insurance provides personal liability coverage for the insured and the immediate family of the insured residing at the same premise . 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: Is Flood insurance a good idea? (Homeowners policy)

Output: Protection for loss as the result of flood is often overlooked . Nearly 25 % or all property claims are flood claims . Many people can not visualize a flood and yet I have seen flooding in very unusual places . When persistent rain caused mudslides in Marin California , storm drained were plugged with debris and nearby homes were flooded , even in the mountains .


Input: Is Flood insurance a good idea? (Homeowners policy)

Output: In a word , yes . Damage to your home caused by flood is always excluded under a standard Homeowners Insurance policy . Anyone and everyone who has a home is situated in a flood zone . Some zones are far more risky than others , but just because you happen to be in a lower risk zone does not mean that you can not suffer a loss caused by flooding .


Input: Is Flood insurance a good idea? (Homeowners policy)

Output: Flood insurance is always a good idea . Statistics show that 25 % of all flood claims occur in the low risk `` X '' flood zone . Unless you are at the top of a 50 foot hill I would get a policy ! They start around $ 300/year . If you are in a hazard flood zone you will need an elevation certificate . This tells the insurance company how high your home is compared to the surrounding area . Contact a local surveyor to get one . - Jared


Input: How Do You Go About Getting Renters Insurance?

Output: Obtaining Renters Insurance is simple and quick ! There are n't too many questions to answer and there are just a few points to look out for ! If you are renting an apartment , a house or a townhouse/condo , you would qualify to purchase a renters insurance policy . If the landlord has required you to purchase the insurance , it is important to find out whether the landlord wishes to be listed as an ` Additional Insured ' on the policy ; if so , you would need to ask how the Additional Insured clause would read -LRB- i.e. Name , Address , Account # etc. . . -RRB- If you are simply looking for the Cheapest Renters Insurance , you would request the minimum available Personal Property Coverage , the minimum available Personal Liability Coverage , and the maximum Deductible available . This would generate the lowest premium . On the other hand , if it is your desire to assure that all your belongings including artwork , jewelry , furs and additional high value possessions are sufficiently covered , you would need to speak with a licensed representative to assess whether the policy has available options to extend coverage to provide what you would need ; or if perhaps , an additional Personal Article Floater may need to be purchased . There is a link providing an online format to obtain a quote and buy renters insurance online in multiple States ; it may be useddirectly by consumers . An exemplary online experience for all ! WEBSITELINK


Input: Is Supplemental Life Insurance Pre-Tax?

Output: Life insurance can not be deducted or purchased pretax . There are some pretax qualified plans that allow a percentage of the annual contribution to use life insurance : participating whole life -LRB- 49.5 % -RRB- and universal life -LRB- 25 % -RRB- . Life insurance as a TAMRA compliant non-modified endowment policy can serve as a supplemental income plan in tandem with qualified plans .


Input: What Kind Of Life Insurance Can You Cash Out?

Output: To `` cash out '' a life insurance policy , of course , there must be cash in the policy . Typically , it takes a year or two -LRB- sometimes less -RRB- to accumulate cash . There are other variations of the previously-mentioned permanent plans that may also have a cash value . Whole life , variable life and universal life plans will generally have a cash value available to you . Term plans typically do not .


Input: Can You Write Off Home Insurance On Your Taxes?

Output: Not unless you operate a business out of your home . In that case you can deduct a portion of the homeowners insurance depending on the percentage of your home you use for business . To find out if you can deduct a portion of your home and what exact percentage it is best to speak with your tax adviser .


Input: What Is A Medigap Insurance Plan?

Output: Medigap plans -LRB- commonly referred to as Medicare supplement plans -RRB- are supplemental insurance plans that cover all or a portion of the gaps in Original Medicare -LRB- depending on which Medigap plan you buy -RRB- . They are designed to help seniors who want high quality healthcare and are on Medicare , cover the gap between what hospitals and doctors charge for their services and what Medicare will pay . Health insurance is constantly changing , which can make finding the right plan for you very strenuous . Supplementing your Original Medicare coverage -LRB- Medicare Parts A & B -RRB- with a Medicare Supplement plan will help you create a very predictable expense structure for your healthcare and allow you to see any doctor you want that accepts Medicare . Any doctor that accepts Medicare will also accept your Medicare Supplement plan . There are 10 different Medicare supplement plans and they are all standardized , meaning a plan F from company A and a plan F from company B feature the EXACT same benefits . The 10 different plans available are plans A , B , C , D , F , G , K , L , M , and N -LRB- a high-deductible plan F is also available that features a $ 2,140 deductible in 2014 - the trade-off being a substantially reduced premium -RRB- . Each plan offers certain benefits some more comprehensive than others . Each plan must cover a core set of benefits -LRB- also known as the basic benefits -RRB- . The basic benefits are 1 -RRB- Medicare Part A coinsurance plus coverage for 365 additional days after Medicare benefits are used up . 2 -RRB- Medicare Part B coinsurance or copayment 3 -RRB- First 3 pints of blood 4 -RRB- Part A hospice care coinsurance or copayment There 's a total of 9 benefits that can be secured . The other 5 benefits available under a Medigap plan are : 1 -RRB- Skilled Nursing Facility Care coinsurance 2 -RRB- Medicare Part A deductible 3 -RRB- Medicare Part B deductible 4 -RRB- Medicare Part B excess charges 5 -RRB- Foreign travel emergency -LRB- up to plan limits -RRB- Each plan features a different structure , Each plan covers a different combination of these 9 benefits -LRB- some of the plans feature coinsurance or copayments for certain benefits -RRB- . If cost is not a major factor for you , Plan F will be the recommended choice because it covers all 9 benefits at 100 % - it 's the most popular plan by far . If you 're looking to keep your costs down , but still have very comprehensive coverage , you may want to look at plans C , G , and N as well . When you 're looking to buy a Medigap plan , you should consult with an independent Medigap insurance agent to review the plans in detail to see which one will best serve your needs , help you identify all of the carriers offering Medigap plans in your zip code , and which one will be able to offer the coverage to you at the lowest cost -LRB- the plans are standardized so the biggest difference between them is price - the benefits are exactly the same regardless of the carrier you have the Medigap plan through -RRB- . I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage needs , including quotes and plan comparisons , and if you have any other questions . Thanks very much .


Input: How Long Can Kids Stay On Parents Auto Insurance?

Output: Generally , children will be covered under their parent 's auto insurance as long as they 're a dependent and/or living at home . In Arizona , all household drivers must be listed on the policy , whether they drive or not . If they do n't drive , they 're to be excluded . Of course , once your children are self-sufficient , you 'll want them to get their own policies and , as a rule of thumb , you 'll want them to get their own insurance as soon as they 're able .


Input: What Does Graded Whole Life Insurance Mean?

Output: A graded whole-Life insurance policy is intended for people in pretty bad health who ca n't qualify for a full benefit policy . If you have a graded policy for $ 10,000 and died during the first 12-months , it would usually pay only 30 % of the death benefit or $ 3,000 If you died during month 13-24 it would usually pay 70 % or $ 7,000 After 24-months it would pay the full $ 10,000 Before you sign up for a graded benefit policy , make certain that you have a very experienced agent review your options . Many people sign up for a graded policy after one or two companies turn them down for full benefit . An experienced agent can check your health against dozens of companies and often get you approved at full benefit and a lower premium .


Input: What Does Graded Whole Life Insurance Mean?

Output: Great question . These are the questions that should be asked before signing up for a policy . A graded policy normally will not pay out full benefits within a certain amount of time -LRB- such as 2 years -RRB- if death occurs from natural causes . So if a person were to have a graded policy and dies within the 1st year , more than likely the beneficiary will get just the premiums that were paid in that year plus maybe another 10 % or so as an example .


Input: What Does Graded Whole Life Insurance Mean?

Output: Graded life insurance policies are a way for life insurance companies to be able to offer coverage to persons who would be uninsurable otherwise . But restricting the payment of the death benefit for the first 1-3 years for death due to natural causes , graded policies help life insurance companies stay viable so they can be counted on to pay the death benefit for all their clients . Graded policies generally pay 100 % of the death benefit from day one for accidental death . For death due to illness , some pay only what you paid in plus a small % more during the first 3 years . Others pay a % of the death benefit and may only have a two year grade .


Input: How Much Should My Homeowners Insurance Be?

Output: Homeonwers insurance premiums are as unique as the home being insured . There are many factors that are taken into consideration when computing a rate for a homeowners insurance policy . some of those factors are : the valuation of the home , the year the home was built , the distance to the nearest responding fire department , and the distance of the nearest fire hydrant just to name a few .


Input: How Much Should My Homeowners Insurance Be?

Output: When an insurance company develops rates for its various products , it takes many factors into consideration in order to come up with the proper rate that best reflects the risk it is being asked to insure . There are quite a number of factors of course , and in the case of Homeowners , several are the amount of coverage on the home , type and style of construction , it 's size , etc. . There are other considerations as well , such as a home 's proximity to coastal exposure in certain areas of the country . Additional items that affect a policy 's pricing include the home 's location in reference to fire services such as hydrants and fire departments . Talk to your Insurance Professional about your coverage options and do n't forget to ask about any discounts that may be available .


Input: Can Medicare Start Before 65?

Output: There are three limited scenarios under which a person can start Medicare before age 65 . There are other qualifying criteria for each of these conditions . It is best to call your local social security office for details . The first is people who are disabled and receiving Social Security Disability Insurance for at least 24 months . The second is people diagnosed with end stage renal disease who are getting dialysis or have had a kidney transplant , and are eligible for SSDI . The third is people who have been diagnosed with ALS - Lou Gehrig 's disease .


Input: Can I Claim For Mis Sold Critical Illness Insurance?

Output: Can you claim for Mis Sold Critical Illness Insurance ? Just a guess , but I believe the question is asking if you can file a claim if you were misled after buying a critical illness policy ? If you feel you were duped , you should contact the supervisor of the agent who sold you the plan , and request a meeting to discuss the issue . If that does not resolve the problem ... push the `` up '' button !


Input: What Happens When Life Insurance Lapses?

Output: When life insurance premiums have not been paid in a timely manner , a lapse occurs . Generally there is a period of time , perhaps 30 days in which the owner has the ability to pay back premiums to bring the policy current . If death of the insured occurs during this period a premium is simply deducted prior to paying the death benefit . After 30 days the policy in no longer in force but may be reinstated with a statement of good health from the insured . After that , a new application and underwriting will need to be completed .


Input: What Happens When Life Insurance Lapses?

Output: Depends on your policy . If you have Term coverage and you do not pay your premium , it generally will end forever , with usually a 30 day grace period to pay . With Permanent coverage , like either whole life or universal , you may get your premium paid from your equity in the policy , until that is exhausted , but at that time it will truly lapse also . This means that you no longer will have any coverage at all . Depending on what loans you may have taken out , you may have some cash value left that was not yet applied to the premium , but if you get that back , it will be taxable . Best to try to keep up at least minimum payments , meaning do not get more insurance than you can truly afford . Something is always better than nothing in your insurance coverage ! Thank you . GARY LANE .


Input: What Happens When Life Insurance Lapses?

Output: When life insurance lapses , the coverage ends . If the insured person would pass away after the policy lapses , there would be no death benefit paid to the beneficiary . There is a 30 day grace period after the premium is due , where you can pay the premium and keep the policy from lapsing . Once it is lapsed , it must be reinstated or you need to apply for a new policy . To avoid your policy from lapsing , be sure to keep your life insurance company apprised of any change in address -LRB- if your statements are mailed to you -RRB- or change of banks -LRB- if your premium is paid by automatic withdrawal -RRB- .


Input: Is There A Copay For Medicare?

Output: Hello there . A co pay for Medicare , Well yes and no . If you have Medicare A and B only , with no other coverage , you are responsible for the deductible under part A , the deductible under part B and the 20 % co insurance under part B . If you have a medicare advantage plan , there are co pays involved .


Input: What Is The Definition Of Renters Insurance?

Output: Renters insurance is coverage that is designed for people who arent responsible for the residence . It is designed to cover the personal property of a renter . It is also designed to satisfy the requirements for legal liability insurance in case of physical injury or property damage . Most policyholders find the coverage to be very inexpensive especially considering the responsibilities that a renter has .


Input: How Much Does Disability Insurance Cost Per Month?

Output: Depending upon the factors of your gender , age , health condition and the amount of compensation you want to cover will determine your monthly disability premium . If your purchase it as an individual the premium may be 5 % -8 % of the compensation youre attempting to cover . That benefit will generally pay around 60 % of your targeted compensation tax free , if deducted around 80 % your targeted compensation , but its taxable .


Input: How Much Does Disability Insurance Cost Per Month?

Output: Disability insurance depends on a number of factors . The cost -LRB- your premium -RRB- is based on a number of factors - the most important being your medical history , your job , and your income - and the policies are very customizable . This is a very important type of coverage to have that many do n't think about . It protects one of your greatest assets - your ability to work.If you ca n't work because of an injury or illness , how do you provide income for you and your family . The answer ? Your disability insurance . When you 're buying a disability policy , the MOST important factor in the policy structure is the DEFINITION OF DISABILITY . Each policy will use 1 of the 3 definitions : 1 -RRB- True Own Occupation - this says you are considered totally disabled if , solely due to injury or sickness , you are not able to perform the material and substantial duties of your occupation , even if you are at work in another occupation . In short , this is the most favorable definition you can have . 2 -RRB- Modified Own Occupation - this says that you are considered totally disabled if , solely due to injury or sickness , you are not able to perform the material and substantial duties of your occupation . This one is commonly seen in many individual disability insurance policies . 3 -RRB- Gainful Occupation - this says if you are unable to perform the duties of your occupation or any occupation for which you are qualified for by education , training , or experience due to sickness or injury . In short , this is the least favorable definition . This one is commonly seen in group disability insurance policies through an employer and property and casualty insurers that offer disability coverage . There are many moving parts to disability insurance and is not something I would suggest trying to buy on your own - this is a type of coverage you should consult with an experienced independent disability insurance broker about . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much .


Input: What Is Global Life Insurance?

Output: Global Life Insurance is a reference to Globe Life Insurance . Globe is a company that sells life insurance online and through the mail . While popular with those who want smaller policies with little effort , it may not work for those who want larger policies or who want to shop for the lowest price .


Input: When Are You Eligible For Medicare Part D?

Output: You are eligible for Medicare Part D at age 65 or at the same that that you are eligible to enroll in Medicare -LRB- Part A and Part B -RRB- . This is also when you are eligible for Medicare Part C and all Medigap plans , and when you are eligible to enroll in Medicare Advantage Plans .


Input: When Should You Stop Buying Life Insurance?

Output: When should you stop buying life insurance ? When you find the policy that works for your situation and planning . The idea of buying policy after policy has a risk attached to it . A person 's health can change over time making insurability suspect later . If a person is going to decide to purchase a policy and then drop it and start another , they should always buy convertible term because a day will come where moving to another policy may not work .


Input: When Should You Stop Buying Life Insurance?

Output: If you have no ongoing financial liabilities or those liabilities are already covered with an existing policy -LRB- s -RRB- , youre done for all practical purposes . However , many consumers like the idea of making a difference in their favorite charities , children and grandchildren . But if thatis n'ta desire andyou ` vecovered all you financial liabilities , you can put your check book away .


Input: When Should You Stop Buying Life Insurance?

Output: You should never stop buying life insurance unless the policy is paidup and you have enough coverage to provide for your family 's financial need in the event of your passing . To be assured that you are covered properly . I would suggest contacting your local agent to have them review with you the coverage that you have in place . If there are gaps they will be able to help you find products to fill those gaps .


Input: Can You Get Insurance On A Cat C Car?

Output: The car must be roadworthy to be registered . When an insurance company declares that a car is a total loss , its registration turns to Cat C . It means that the cost of repairs exceeds the value of the car . Cat C registration does not make the car uninsurable . In California an insurer may not deny coverage based upon the vehicles category . However , some companies will not provide physical damage coverage for a Cat C vehicle .


Input: Is Cash Value From A Life Insurance Policy Tax Free?

Output: Video Transcript : Hello , everyone . I 'm Steve Savant , syndicated financial columnist and host of the weekly online talk show `` Steve Savant 's Money : The Name of the Game . '' I 'm answering questions from insurancelibrary.com , and today 's question is : Is cash value from a life insurance contract tax-free ? Well , if it 's set up as a non-modified endowment contract that complies with a law called TAMRA , and we keep that contract in force for the life of the policy insured , remember not the owner of the policy , not the payer of the premium , but the life of the insured , withdrawals to basis and policy loans of gain can come out tax-free . And as long as that contract , as I 've said , is kept in force , that income is never placed on your 1040 , so it 's never counted as a taxable event . This is huge , because then you do n't have any correlation later on in your retirement for Social Security , for the provisional income test or almost all other income sources have to be tested for Social Security to find out if your benefits are taxed or not . Well , that 's our consumer question for today . If you have any questions , just submit them to www.insurancelibrary.com .


Input: What Is A Medigap Insurance Policy?

Output: Medigap plans -LRB- also known as Medicare supplement plans -RRB- are designed to help seniors who want high quality healthcare and are on Medicare , cover the gap between what hospitals and doctors charge for their services and what Medicare will pay.Health insurance is constantly changing , which can make finding the right plan for you very strenuous . Supplementing your Original Medicare coverage -LRB- Medicare Parts A & B -RRB- with a Medicare Supplement plan will help you create a very predictable expense structure for your healthcare and allow you to see any doctor you want that accepts Medicare . Any doctor that accepts Medicare will also accept your Medicare Supplement plan . There are 10 different Medicare supplement plans and they are all standardized , meaning a plan F from company A and a plan F from company B feature the EXACT the same benefits . The 10 different plans available are plans A , B , C , D , F , G , K , L , M , and N -LRB- a high-deductible plan F is also available that features a $ 2,140 deductible in 2014 -RRB- . Each plan offers certain benefits some more comprehensive than others . Each plan must cover a core set of benefits -LRB- also known as the basic benefits -RRB- . The basic benefits are : 1 -RRB- Medicare Part A coinsurance plus coverage for 365 additional days after Medicare benefits are used up . 2 -RRB- Medicare Part B coinsurance or copayment 3 -RRB- First 3 pints of blood 4 -RRB- Part A hospice care coinsurance or copayment There 's a total of 9 benefits that can be secured . The other 5 benefits are : 1 -RRB- Skilled Nursing Facility Care coinsurance 2 -RRB- Medicare Part A deductible 3 -RRB- Medicare Part B deductible 4 -RRB- Medicare Part B excess charges 5 -RRB- Foreign travel emergency -LRB- up to plan limits -RRB- Each plan features a different structure , Plan F is the most popular plan because it 's the most comprehensive Medigap plan available as it covers all 9 benefits at 100 % . Consult with an experienced broker to review the plans in detail to see which one will best serve your needs . We have an in-depth knowledge of Medigap plans and can provide quotes from multiple carriers . I hope the information is helpful . I have a strong background in senior insurance -LRB- including Medigap plans -RRB- so please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: What Is A Medigap Insurance Policy?

Output: Medicare supplement plans -LRB- commonly referred to as Medigap plans -RRB- are designed to help seniors who want high quality healthcare and are on Medicare , cover the gap between what hospitals and doctors charge for their services and what Medicare will pay . Health insurance is constantly changing , which can make finding the right plan for you very strenuous . Supplementing your Original Medicare coverage -LRB- Medicare Parts A & B -RRB- with a Medicare Supplement plan will help you create a very predictable expense structure for your healthcare and allow you to see any doctor you want that accepts Medicare . Any doctor that accepts Medicare will also accept your Medicare Supplement plan . Original Medicare -LRB- Parts A & B -RRB- covers appoximately 80 % of your healthcare expenses . Medicare supplements -LRB- or commonly referred to as Medigap -RRB- plans help provide coverage for the other 20 % . There are 10 different Medicare supplement plans and they are all standardized , meaning a plan F from company A and a plan F from company B feature the EXACT the same benefits . The 10 different plans available are plans A , B , C , D , F , G , K , L , M , and N. Each plan offers certain benefits some more comprehensive than others . For example , Plan A offers coverage of only the basic benefits of Medicare Supplement Insurance , while Plan F is the most comprehensive . Plan F also offers a high-deductible version of the plan it is the only plan that offers this feature . Under a high-deductible plan F -LRB- also referred to as Hi-F -RRB- , the insured must pay for Medicare-covered costs up to the years deductible amount $ 2,140 in 2014 before the supplement plan pays anything . The benefit of the high-deductible plan F is that it offers the insured a much lower monthly premium . There are 9 benefits available in Medigap plans : 1 -RRB- Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up 2 -RRB- Medicare Part B coinsurance or copayment 3 -RRB- First 3 pints of blood 4 -RRB- Part A hospice care coinsurance or copayment 5 -RRB- Skilled nursing facility care coinsurance 6 -RRB- Medicare Part A deductible 7 -RRB- Medicare Part B deductible 8 -RRB- Medicare Part B excess charges 9 -RRB- Foreign travel emergency -LRB- up to limits as cited in the plans -RRB- Each plan provides a percentage of coverage for the first 4 benefits . From there , each plan features some or all of the other 5 benefits . Plan F is the most comprehensive benefit as it covers all 9 benefits at 100 % . Plan G is almost identical as it covers 8 benefits at 100 % -LRB- the one it does n't cover is the Part B deductible . Plan N is also very competitive - as long as your primary care doctor accepts Medicare and assignment , your only other payment other than your premium would be the Part B deductible -LRB- $ 147 in 2014 -RRB- and a copay at the doctor 's office -LRB- up to $ 20 per visit -RRB- or hospital -LRB- up to $ 50 per visit -RRB- . I highly recommend downloading a copy of the Medigap guidebook on the Medicare.gov website - the guidebook is titled `` Choosing a Medigap Policy : A Guide to Health Insurance for People with Medicare . '' Agents will have this on hand as well - it 's required to be given to the proposed insured if they decide to apply for a plan . You can send me a private message if you 'd like me to e-mail it to you . I hope the information is helpful - please feel free to contact me for assistance with your coverage including plan quotes and comparisons . Thanks very much .


Input: Does Renters Insurance Cover Vehicle Damage?

Output: Renters insurance does not cover damage to vehicles . The vehicles insurance would cover what ever damage occurred . There is a slight possibility renters insurance would cover damage to a vehicle if for example you threw a baseball through the glass but even this on is a maybe . The vehicles comprehensive coverage would pick up this kind of damage .


Input: What Is Medicare's Phone Number?

Output: The phone number to contact medicare is 1-800-633-4227 , or it may just be easier to remember 1-800-MEDICARE . You can also visit the Medicare official website at www.medicare.gov . In my experience if you call the 800 telephone number earlier in the week you may experience longer than usual hold times .


Input: How Is Long Term Care Insurance Regulated?

Output: Long term care insurance is regulated the same as most all other types of insurance policies through your state in which you reside state Department of Insurance or DOI . Each DOI determines which insurance company can do business in their state and which policies are allowed to be marketed in the state . DOI also helps with consumer complaints to be sure claims are handled correctly and in a reasonable time .


Input: Can Felons Get Car Insurance?

Output: That is a really good question . It is going to be difficult , and may depend upon what your felony was . If it had to do with a car and there were intoxicants , or deaths , you may not find a company that will insure you . If your felony involved something that did n't involve a motor vehicle , and is deemed `` low risk '' , -LRB- mind you , it 's still a felony , and thus a high risk by any measure -RRB- then there may be a very high priced policy out there for you . Best bet ? Find an independent agent that is willing to look around for you . Good luck , and thanks for asking !


Input: Can You Have Medicare And Still Work?

Output: With the lagging economy and endless recession a lot of people continue working past age 65 -LRB- whether they want to or not -RRB- . Your earnings do not penalize your Medicare benefits . Unlike the penalty tax under Social Security for earned income , Medicare is not impacted . If you are covered by an employer health insurance plan and Medicare you may not need Part B or D .


Input: Who Offers Hybrid Annuities?

Output: The offerings will vary by State . In New Jersey , where I write most of my annuity business , and since my focus is on asset based long term care , I really like and recommend American Equity , and F&G Life , attaching the proper income riders that contain increased income for impairment .


Input: Who Offers Hybrid Annuities?

Output: Hybrid Annuity / Long Term Care products are offered by Lincoln Financial , Mutual of Omaha , Genworth , and John Hancock . However , the terms/features/rates of each product vary . So it is best to speak with an independent annuity expert who can evaluate your situation and help you decide which product is right for your situation .


Input: Is Car Insurance Mandatory In The US?

Output: In almost all of the states in the United States it is . As of the last time that I looked into this I believe it was forty-nine states out of fifty that required licensed drivers to have some form of automobile insurance coverage . There are three quick ways to find out your states requirements for auto insurance coverage . Contact a local agent , call or check the website of your states DMV , or check your states OCI -LRB- Insurance Commissioner -RRB- website .


Input: Is Car Insurance Mandatory In The US?

Output: Car Insurance is regulated not by the Federal Government but by each individual state government . Most if not all states require you to carry car insurance as a condition of registering your vehicle and operating it legally on public access roads and highways . The Federal Government has no authority to regulate these state requirements .


Input: Why Do We Need Renters Insurance?

Output: Great question ! Renters insurance is a good way to protect you from loss . If your rented home burns down , the landlords insurance covers his loss of the house , but not your things in the house when it burned . Renters insurance covers your investment in those things . If a burgler kicks in your apartment door , and steals all of your stuff , the complex 's insurance will cover only the cost of repairing the door . Unless you 've got a ton of money laying around to replace all of the things that were stolen , you 're out of luck . A good renters policy will help you get those things replaced . Look for a policy that offers `` replacement cost '' if possible . If you would like more information , please hit the contact me button , I 'd be glad to help . Thanks for asking !


Input: When Did Auto Insurance Became Mandatory In The Us?

Output: The requirement for licensed drivers to have automobile insurance started with Massachusetts in 1925 with almost all of the other states in the US to follow suit since then . Each state sets it 's own minimum coverage requirements and limits along with the vehicle registration requirements and fines/penalties for not having the required coverage .


Input: When Did Auto Insurance Became Mandatory In The Us?

Output: There isnt a federal requirement to have automobile insurance . This requirement is set by individual states . These requirements vary from state to state . States have taken this step to promote the general welfare of their citizens . A car is a lethal weapon that can cause untold mayhem . When all drivers are insured there is a way to address the needs of the innocent .


Input: Why Do Lenders Require Homeowners Insurance?

Output: Mortgage Lenders require that you show proof of Homeowners ' Insurance because they have an obvious insurable interest in your property . Much the same as auto finance lenders , mortgage companies want to be sure that should anything happen at your home while their loan is in effect , that there will be money available sufficient enough to handle any resulting repair costs .


Input: What Happens To Life Insurance When You Cancel?

Output: If the policy has cash value you would have the option of cashing the policy in for the surrender value of the policy , you can do nothing and the cash value will buy extended term insurance keeping the death benefit in force until the cash value is used up , or you can take a reduced paid up policy for whatever the cash value will buy . If you have term insurance the death benefit simply goes away .


Input: Can You Take Out A Life Insurance Plan On Anyone?

Output: There are situations where it is possible to purchase life insurance on an individual without their knowledge . Confidential life insurance is a specific product that is used in business situations as well as familial concerns where a divorce decree requires ongoing payments . Coverage is purchased by a third party with an insurable interest .


Input: Can You Take Out A Life Insurance Plan On Anyone?

Output: You can take out a life insurance plan on anyone with whom you have an insurable interest . This means that the life of that person represents a financial benefit to you , or on the converse , that the death of that person would cause you a financial loss . There is also a degree to which insurable interest is determined by `` a substantial interest engendered by love and affection if closely related by blood or by law . '' This might allow you take out a small life insurance policy on your grandparents , but unless you invest in the care of your grandparents , there would not be insurable interest to take out a large policy on them .


Input: Can You Take Out A Life Insurance Plan On Anyone?

Output: No , you can no longer take out an insurance policy on anyone and without their consent . Insurance companies look for an `` insurable interest '' between insured and the policy owner . An employer ca n't take a policy out on an employee without consent of the employee , even if an insurable interest is present .


Input: Why Term Insurance Over Whole Life?

Output: It 's not an either or , it 's do you need permanent or temporary life insurance ? If your financial , liabilities , future obligations and charitable intent is temporary , then buy term , if permanent then buy either whole life or guaranteed universal life . Life insurance products generally have maturity dates . permanent life insurance generally can extend to age 121 with some permanent polices using the phrase `` life of the policy insured . ''


Input: Why Term Insurance Over Whole Life?

Output: If you need a lot of coverage for a temporary need , Term is more cost effective , at least in the short run , than Whole Life . While Whole Life builds up cash values that can make it come out ahead of term in the end , not everyone can afford the amount of coverage they need in a permanent policy . Sometimes taking a combination of Term and Whole Life can be helpful to keep costs down , yet have enough coverage to get the protection you need , yet some coverage locked in for life .


Input: Can Life Insurance Companies See Medical Records?

Output: Yes , as part of the application you will sign a Health Insurance Portability and Accountability Ac -LRB- HIPAA -RRB- release as part of the application , which grants release of your medical records to the insurance companies and it 's agent . This allows the company to order your medical charts at it 's discretion for review .


Input: Can Life Insurance Companies See Medical Records?

Output: If you are applying for a policy with a company that does medical underwriting , and have a health condition for which they need additional information , the insurance company can request to see your medical records . There is usually a HIPAA form included with the application for you to give your permission , and some doctor 's offices require that you sign a separate form for release of your records to the life insurance company . If you do not have a health condition for which extra information is needed , the insurance company will not look at your medical records . That incurs a cost to them , so they only do so if necessary to issue you a fair health rating .


Input: Does Home Insurance Cover Bat Removal?

Output: No , that is generally not a covered peril . A homeowners policy would not cover any type of extermination , bats , bugs rats or otherwise . A homeowners policy is designed to cover natural perils such as fire , wind , hail etc. . Some homeowners policy will cover a broad range of perils but usually things like bats would be excluded . Check with your agent and make sure .


Input: Should I Do Long Term Disability Insurance?

Output: If you have to choose between buying short or long term disability insurance , most people select long term disability insurance . That is because most people can survive a few months of not having an income , but it is difficult for most people to go without their paycheck for many months or years . If you are trying to decide whether to buy any disability insurance at all , it depends on your income -LRB- whether your family depends on it -RRB- , your health and occupation -LRB- whether you qualify for a policy -RRB- , and the cost of the policy -LRB- whether you can afford it -RRB- . If you are living on minimum wage , buying long term disability insurance is not going to fit in your budget . If you are the breadwinner in your family , do n't have a large amount of savings , and have a moderate to good standard of living , it is almost essential to do long term disability insurance .


Input: Is There Car Insurance For Drivers Who Don't Own Vehicles?

Output: Yes there is coverage for a non-driver auto owner . Example grandpaw too old and slow to drive so he has his grandson who is of legal age or a friend or someone off the street with his permission . Coverage follows the auto and any occupants in the vehicle with owner permission . If someone steals the vehicle or takes it without permission there is still coverage on the car but there is none on the theif . That includes the bad boy grandson unless he happens to be living in the household


Input: Which Is The Best Life Insurance Company?

Output: The best life insurance policy is the one that is in force and pays the death claim when you die . Your beneficiaries will not know whether it was from New York Life or Podunk Life . Cash is cash . The key is to have a policy in force . The next key is to have sufficient coverage to meet your obligations and smooth over the loss those who love you will feel when you pass . An insurance agent is the person who can sit down and design a plan that will meet your needs .


Input: Which Is The Best Life Insurance Company?

Output: There are a lot of categories to be considered when stating which company is the best life insurance company . The things to look for in an insurance company are financial ratings at A - or better so you know they have the money to pay the claim to your beneficiary when the time comes . Also , state departments of insurance websites are good to see any complaint history as life insurance is a highly regulated industry . I find the best way is to talk to friends , family and coworkers about their experiences with their life insurance company . I am sure you will find the best life insurance company for you .


Input: Which Is The Best Life Insurance Company?

Output: I believe that answer is a firm New York Life . New York Life is America 's Oldest , Largest , Most Reliable , has the Universally Highest Ratings from Every Single One of the Financial Rating Services . They even declared an increased 8 % Dividend to their Policy Owners last week . They are the quickest to pay on Claims , usually within 7 days . Is n't that what you want for your family ?


Input: Which Is The Best Life Insurance Company?

Output: The best life insurance company is the one that pays your beneficiaries the promised amount when you die . At that point all discussion of price and cash value fades away . The fact is most life insurance companies do this every day . Your state insurance commissioner tries to make sure that those companies admitted to do business in your state keep their promises . Find a good agent , the agent will find a good company !


Input: Does Home Owners Insurance Cover A Lost Wedding Ring?

Output: Maybe yes , maybe partially , maybe no ! Most homeowners insurance policies do not cover loss or mysterious disappearance of jewelry . Those that do include the coverage in the basic policy generally include a low limit . What is typically required is optional coverage referred to as a personal articles floater . An appraisal or bill of sale is submitted to the insurance company , the item -LRB- s -RRB- are specifically itemized on the policy and premium is determined by the value . Coverage varies by insurance company so be sure to consult your agent .


Input: What Is Companion Life Insurance?

Output: Companion Life Insurance is the New York Life Insurance company for Mutual of Omaha . As a subsidiary of Mutual of Omaha Insurance Company , Companion Life Insurance Company offers a full line of individual and group life insurance products and annuities , just as Mutual of Omaha does in the other 49 states .


Input: How Does Medicaid Treat Annuities?

Output: Unless an annuity is set up exactly according to some specifications , Medicaid treats annuities as an asset . So if someone is applying for Medicaid while owning an annuity , they will need to spend down the cash value in the annuity to the allowable limit for holding onto cash assets .


Input: When To Cash In Annuities?

Output: Because of their deferred taxation it is quite popular to maintain annuities and make periodic withdrawals . At some point it will probably be wise to annuitize the annuity to make sure that you have a lifetime stream of income . Otherwise consider an annuity like other assets and either make withdrawals from them or cash them in as it is appropriate but seek tax advice .


Input: What Health Insurance Does Congress Have?

Output: Congress has a group plan that has specific coverage unique to its members . However , in 2014 , Congress -LRB- and Congressional employees -RRB- were scheduled to change to plans that the general public was going to receive . Lately , there has been some discussion about making exceptions for members of Congress . The concern was mainly many of their staff may not be able to afford Obamacare . Can you believe that ?


Input: What Is The Best Retirement Savings Plan?

Output: The best savings plan , not investment plan , is generally a product suitability item that needs to be profiled . The product suitability for participating whole life or current assumption universal life insurance , as an income source for retirement , is a long term saver with low to zero risk tolerance and no less than a fifteen year annual premium commitment . If designed to comply with TAMRA and maximum cash accumulation , these life insurance policies can deliver tax advantaged income as long as the policy is kept in force for the life of the insured .


Input: What Is The Best Retirement Savings Plan?

Output: What is the best retirement plan ? Anyone you happen to choose and consistently fund . There are a lot of `` prefect '' plans that go undone or unfunded or left as a last thing to do if there 's money left over ... . The habit of saving is the absolute BEST retirement plan a person can have ... Get the habit and the rest turns out OK . Without the habit , tax breaks , tax advantages and tax free does n't matter .


Input: What Is The Best Retirement Savings Plan?

Output: The best retirement plan is one that your employer gives you . It doesnt cost you anything . The next best retirement plan is one that defers all of the gain and charges no tax on the distribution . These plans are known as Roth plans . The next best retirement plan is one that allows you to deduct your contributions as you make them from your taxable income . It charges income tax on the entire distribution when you start taking it . These are all income tax plans regulated under the IRS regulations .


Input: Does Home Insurance Cover My Laptop?

Output: Yes depending on what happens to it . It is not going to cover it if it breaks , however if it is destroyed due to a covered peril such as fire or theft , then there is usually coverage for electronic equipment . There is usually an internal limit on what it would pay and sometimes a separate deductible .


Input: Why Is Long Term Care Insurance Needed?

Output: Long term care insurance is needed to protect assets and assertion . It is easy to have both slip away from you as you age . Long Term Care Insurance gives you the funds to pay for the care you want , so that you do n't have to spend your hard earned money on care you do n't want .


Input: Why Is Long Term Care Insurance Needed?

Output: The number risk to retirement is human longevity . Life expectancy is ever increasing with medical technology as well as better diet and exercise . But later on in your senior years you may need assisted home care and/or nursing home confinement . Long term care insurance can mitigate those costs , so you can keep more of your money .


Input: Is Medicare Prescription Drug Coverage Mandatory?

Output: That is a great question ! The answer is one of those , `` no , but you should '' answers . Like health insurance is n't mandatory , having it is very wise , and not having it has penalties . It iskind of like that with your prescription coverage . While it is n't mandatory to have , the cost of your prescriptions without it is often prohibitive . A prescription that Medicare covers may only cost you a couple of dollars , that without the coverage would cost $ 45-50 dollars or more . On a fixed income , and looking at stretching a retirement fund , I 'd wholeheartedly recommend that you enroll in the plan . Thanks for asking !


Input: Is Medicare Prescription Drug Coverage Mandatory?

Output: Medicare prescription drug coverage is not mandatory , but it is very wise to have a plan if you 're on Medicare . Please note , if you do not get prescription drug coverage when you are first eligible for Medicare , you may be subject to a late enrollment penalty if you decide to purchase it in the future instead -LRB- the penalty can be waived in certain instances such as if you are coming off of group coverage -RRB- . A great , very popular Medicare coverage structure to have is original Medicare -LRB- your Part A & Part B coverage -RRB- , a Medicare supplement plan -LRB- to cover the all or a portion of the gaps in original Medicare - 20 % of your health expenses -RRB- , and a standalone Part D plan to cover prescription drugs . I hope the information is helpful - please feel free to contact me for help with your Medicare supplement program and if you have any other questions . Thanks very much .