Input: How Much Is The Average Life Insurance Payout?

Output: There is an old 2002 report posted on LIMRA the cited less than $ 90,000 death benefit for all types of life insurance which included group , individual , children and final expense polices . Each life insurance company posts their average size of the death benefit face amount , which even among the larger and more prolific life insurance companies is under $ 200,000 .


Input: Can You Claim Blood Tests On Medicare?

Output: You can claim blood tests if the tests were medically necessary to diagnose or monitor a health condition , and if the testing was done by someone is enrolled in Medicare . If done on an inpatient basis , it is covered by Part A . If done on an outpatient basis , it is covered by Part B . If the test was done for preventative purposes , it will not be covered by Medicare . If you have a Medicare Advantage Plan , it may cover blood tests not covered by Part A or B.


Input: Can A Person Have Two Life Insurance Policies?

Output: Can a person have two life insurance policies ? Yes , a person can have multiple policies if they choose to , even with different carriers . A newer trend for insureds is buying a smaller face amount of whole life insurance and doing the balance of insurance in term insurance .


Input: Can A Person Have Two Life Insurance Policies?

Output: A person can have two , four , six or many more policies . Often , persons purchase policies at different times for different needs . However , sometimes , it is not wise to continue to purchase small policies every few years . Although affordability is certainly a concern , economies of scale must also be considered . An experienced broker with a respected website can quickly shop different companies and review with you the best method to cover your life insurance needs .


Input: Can A Person Have Two Life Insurance Policies?

Output: A person can have two or more different life insurance policies . When you fill out the application for the second -LRB- or third or fourth -RRB- life insurance policy , the application will ask if you have any existing insurance . The reason they do this is to ascertain the total amount of coverage you will have . While you can have as many policies as you want , there is a limit on the dollar amount of coverage , based on your income and assets . On an average , most people can get about 20 times their annual income in life insurance protection .


Input: How Much Should I Pay In Renters Insurance?

Output: If you are just purchasing renters insurance in order to satisfy the apartment complex 's requirements , you should expect to pay under $ 200 per year . If you are looking for added protection for your belongings , jewelry , and increased liability protection it should still be under $ 400 . Renters insurance tends to be very inexpensive because you are not insuring the building .


Input: Why Can

Output: Why can ? A simple question , but yet , so complex ! Why can someone do this or why can someone do that ? I have often pondered for hours to come up with the answer . And I believe , after years of thought-provoking consultation with friends and relatives ... I have the answer to the question `` Why can ? '' The answer ? Why not ?


Input: Where Do Americans Get Their Health Insurance?

Output: If you 're self-employed , you 're generally getting your health insurance coverage from one of two places , the individual market or your spouse 's group coverage , if available . Individual health plans can be purchased on or off the health insurance exchanges . If you qualify for a subsidy , you would want to look at health insurance ON the exchanges - subsidies can only be used for on-exchange policies . Your employer may also have a group health insurance plan available to you - you would generally need to talk to your HR representative to get information on plan availability .


Input: Why Should Health Insurance Be A Right?

Output: An excellent question that touches on both philosophy and current politics in our nation . In the context of the rights enumerated in the U.S constitution and the natural rights of man historically there is no right to health insurance . In the grand sweep of human history health insurance is a late arrival on the world stage and mankind existed without it for millennia . As health insurance is only a financial mechanism designed to transfer risk by spreading it out over a larger pool of payers it is difficult for me to construe this as an inherent right . By that argument we should all have the right to car or homeowners or pet insurance . This is where I think many people make the mistake of confusing health care with health insurance . Health care , however primitive , has been around for thousands of years and yet Ibelieve most objective thinking people would agree that there has never been an intrinsic right to health care itself . Health insurance , in my opinion , should be viewed as , at best , a social obligation that an individual owes to their society to eliminate or at least minimize the burdens they might place on their fellow citizens and at least what a person should do in their own self interest to protect themselves against serious illness or injury . But whether it is a social obligation or an act of self interest it clearly does not fall into the same category as freedom of speech , religion , to peaceably assemble or petition the government for redress of grievances . To me , it seems that the argument that health insurance is a right is merely anattempt by some -LRB- however well intentioned -RRB- to construct a system that by its very nature centralizes control over the individual and may actually impinge upon their true rights by taking from some to give to others . An ever expanding social contract leads to ever expanding expense which serves to distort the functioning of a society built upon a premise of self reliance first and charity second .


Input: Can You Get Long Term Care Insurance With A Pre Existing Condition?

Output: You can get Long Term Care with some pre-existing conditions , but not all of them . Some types of pre-existing conditions are viewed by long term care underwriters as more apt to need long term care in the future than others . Some of these are stroke , MS , diabetes with side effects , dementia , and rheumatoid arthritis . These can cause a decline . Osteoporosis , depression , and other mild conditions can affect ratings and price . On the other hand , some pre-existing conditions that can cause a decline for life insurance will not affect long term care insurance at all . Contact a broker who carries a variety of long term care choices to see if your pre-existing condition will enable you to buy a long term care insurance policy at an affordable price .


Input: Is Lightning Damage Covered By Renters Insurance?

Output: Lightning is a covered peril of renters insurance so if lightning for example causes a fire that destroys your personal items you would be covered . If you are referring to a electrical surge to something like your TV or computer there would be a limitation of coverage 's depending on the carrier .


Input: Does Nationwide Have Health Insurance?

Output: Nationwide does not underwrite and issue health insurance plans under their own brand name . In some states Nationwide will have marketing arrangements with health insurance carriers and will offer their major medical plans to Nationwide policyholders . These are the same plan you could buy if you purchased from an independent agent or direct from the issuing carrier .


Input: How Much Home Insurance Is Needed?

Output: The amount of coverage carried on a home is determined by the cost to replace the building and contents and the requirements of your lender . In California lenders can not require coverage in excess of the cost of replacement but when prices rise lenders sometimes pressure homeowners to carry more coverage to protect their investment . The insurance company will require an independent evaluation of the reconstruction cost and your agent is the best person to help you . There has been a great deal of discussion concerning catastrophic losses where neighborhoods or communities are destroyed . The problem then is a shortage of material and contractors to restore damaged dwellings . In these circumstances building costs can escalate quickly . If you sense that you might be in such a potential situation be sure to discuss that with your agent .


Input: How Much Home Insurance Is Needed?

Output: You should follow the old adage , `` Expect the worst and hope for the best , '' when insuring your property . For home owners insurance you should have enough coverage in the case of a catastrophic loss -LRB- i.e. you lose everything -RRB- . You will want to take into account how much it would cost to rebuild your home , anysurroundingstructures -LRB- like a garage -RRB- and all of your personal property you will have to replace . On top of that , you will need to take into consideration the loss of use factor , which is how much will it cost you to stay elsewhere while your home is being rebuilt . In summary : add up the following four items 1 . cost to rebuild house 2 . cost to rebuild surrounding structures 3 . cost to replace personal property 4 . cost to stay elsewhere for an extended period of time


Input: Why Are Annuities So Expensive?

Output: The insurance company issuing the annuity is accepting a very great risk , a lifetime of monthly payments . Annuitants tend to live longer than non-annuitants and that is a factor . The other expenses of the insurance company have more to do with the accumulation phase and represent the costs of dealing in different investment programs . There are some annuities with little to no load in which case you can get the benefits of an annuity without any fees or charges .


Input: Why Are Annuities So Expensive?

Output: That is a great question ! As an answer for you , I 'd point out that there are many different annuity products out there , and like mutual funds , some have higher expenses than others . It is wise to shop around , and learn what fees and expenses will be attached to the annuity , and its riders . That said , insurance companies determine cost based on risk , and when you add a guaranteed income payout rider to your annuity , the risk of you receiving a payout that exceeds what you paid in id pretty good , so the companies will charge you more . Just like life insurance for a smoker is higher , as their health risks are higher than a non-smokers are . I always advise that you speak with an advisor that you can trust before making any investments , as they all have pros and cons to consider . If you contact me , I 'll walk you through this in a little more detail . Thanks for asking !


Input: Why Are Annuities So Expensive?

Output: Nearly all savings and investment product lines have expenses attached to them , annuities are no exception . But there are many types of annuities and their policy expense loads vary dramatically . Tax deferred annuities have differing crediting methods like interest rate crediting , indexed crediting or separate sub account crediting/debiting . Each of these has their own expense loads . But keep in mind that annuity expenses are often times tied to benefits not found in traditional savings and investment vehicles . So , is the price tag worth the benefit ? That is a product suitability issue .


Input: What To Look For When Getting Renters Insurance?

Output: While there might be small variations , most insurance companies offer similar policies . The coverages are adapted to your situation and cover most conceivable situations . If the policy is an `` all-risk '' policy , any exclusions are well defined and clearly identified . The cost is not prohibitive but many delay purchase because it is n't required . The company will only pay a loss when the policy is in force .


Input: What To Look For When Getting Renters Insurance?

Output: The easy answer is that you want as high a liability limit as possible because you are protecting yourself against lawsuits . Generally there are generally multiple units attached to yours which means more exposure if something happens in your apartment and spills over into others . Liability is also very cheap . You also want enough personal property coverage and full replacement value .


Input: Where To Buy Homeowners Insurance?

Output: Depending on your state there are many options . There are some carriers that are strictly online but unless you understand insurance coverage 's you might want to talk to a local agent . You also can call any carrier that is in your state and they can recommend an agent that is close to you . Having a local agent can be helpful when it comes to understanding the coverage 's that you need to protect your assets . If you are having trouble finding a carrier or an agent you can also contact your states insurance commissioners office and they can tell what carriers are available and help guide you .


Input: Do I Need Critical Illness Insurance In South Dakota?

Output: `` Need '' is not word I would apply to critical illness insurance in South Dakota , or any state . Critical illness is not an inevitable event , such as death may cause the need for life insurance , and it critical illness insurance does not contribute for years , such as long term care insurance does . It does help by paying a lump sum of money to someone stricken with a life threatening illness . With the prevalence of cancer and heart disease in our nation , that risk is higher than ever , and the treatments are more effective , so that critical illness insurance can indeed be a `` life saver '' of sorts .


Input: How To Plan For Retirement If Self Employed?

Output: Self employed can use traditional IRAs or Roth IRAs if the annual contributions are under $ 6000 . But if your income is high you may be able to annually contribute as much as $ 51000 . Your first need to determine your tax bracket , your risk tolerance and your life expectancy . to establish the type of investments and deductible qualified plans that may be available for your situation .


Input: Why Are Medicare And Medicaid Important?

Output: Both are important especially to 65 and older market as well as individuals who are considered handicapped as well . Medicaid is a State and federal program that allows individuals with limited resources , Cash , assets , etc and have to fulfill the need of the state and federal guidelines to be approved under Medicaid can use this as a supplement to pay for what Medicare does not pay for . If you want further clarification you are welcome to review my profile page and contact me . `` From an Agency that truly cares ''


Input: If I backed into a car illegally parked behind a obviously refrigderated who is at fault?

Output: That 's a great question ! I hate to be the bearer of bad news , but my bet is parked illegally or not , since you were the one that caused the damage , it is going to most likely be your fault . You may get lucky and your lawyer may be able to argue out of it , but generally the one who causes the damage is liable , regardless of the circumstances . Good luck ! Thanks for asking .


Input: How Old Do I Have To Be To Get Medicare?

Output: Most people sign up when they 're turning 65 - this is your initial open enrollment period . It starts the 3 months before the month you turn 65 through the 3rd month after you turn 65 . If you 're outside of this window , you will have to wait to sign up until the general enrollment period opens up for Part B -LRB- January 1-March 31 of each year -RRB- , unless you qualify for a special enrollment period . Other situations where you can be eligible for Medicare are if you 're under 65 and on social security disability -LRB- need to be on it for at least 24 months -RRB- , or have end-stage renal disease . Please let me know if I can be of further assistance . Thanks very much .


Input: How Old Do I Have To Be To Get Medicare?

Output: Medicare Part A and Part B is provided by the federal government for Americans who are 65 and older who have worked and paid Social Security taxes into the system . Medicare is also available to people under the age of 65 that have certain disabilities and people with End-Stage Renal Disease -LRB- ESRD -RRB- . If you continue to work and get your health insurance through your employer you may not need to enroll in Medicare when you turn 65 .


Input: How Old Do I Have To Be To Get Medicare?

Output: That is a great question ! While there are some circumstances that will allow you to enroll earlier , the vast majority of people sign up when they become eligible at age 65 . There is a 6 month window that runs from before your actual birthday to shortly after . Most people will enroll when they sign up for Social Security . Thank you for asking !


Input: How Expensive Is Disability Insurance?

Output: As Ted mentioned , the premium is determined by numerous parts of a policy , including your benefit amount , elimination period , added riders , your occupation , etc. . When you choose an agent , he or she should be able to show you several different quotes . If you find a policy that you like , but it 's too expensive , be open with your agent about the amount you 're willing to pay . Your agent can adjust the policy to meet premium amount you desire . It will however , weaken the coverage , so keep that in mind .


Input: How Expensive Is Disability Insurance?

Output: It depends on a lot of factors . Age , benefit request , elimination period , type of employment , the area you live in , your health , and the company you choose . Check with a good independent agent familiar with disability insurance . A good agent will be able to find you a plan that best meets your needs .


Input: How Much Is Life Insurance In Georgia?

Output: To find the cost of life insurance in Georgia , you can go to an online quote engine that allows you to choose the state of Georgia when selecting your quote . An instant life insurance quoter will allow you to change some of the variables so that you can compare prices for different term lengths and face amounts .


Input: How Much Is Life Insurance In Georgia?

Output: There are several online life insurance brokerage portals that maintain extensive search engines to display premium comparisons between the leading life insurance companies in the U.S. . The data input requires the state you live in to generate quotes.With the exception of the state of New York , the premiums differ little from state to state .


Input: How Much Is Renters Insurance A Month?

Output: It depends on how much Personal Property you have , and how many additional coverages you opt for . But for an average Renters policy in my agency they are usually somewhere between $ 10-20 a month . Some people spend that much on coffee in a day , but do n't even consider protecting their personal belongings !


Input: Does Medicare Part D Cover Humira?

Output: Remember that Part D Drug Coverage is provided through private carriers , such as United Healthcare , Humana , etc. . . so the formularies may vary . So the answer is - have your agent check formularies of various companies to see where you might get the best deal . Having said that , in most cases , it will probably be covered , but in Tier 5 which means that you 'll pay 33 % of the cost .


Input: How Secure Is Life Insurance?

Output: Life insurance companies are very secure . Because of tight regulations they are ultra conservative with their investment strategy . Banks are insured through FDIC . Life insurance companies are insured through very large reinsurance companies which are some of the wealthiest companies in the world . Companies like Munich Re , Swiss Re , Berkshire Hathaway , Hannover Re and Lloyds of London are the 5 largest . There is no worry when dealing with `` A '' rated life insurance companies .


Input: How Secure Is Life Insurance?

Output: Life insurance companies are heavily regulated . They are also historically very secure . During the Great Depression , while banks were failing , life insurance policies were still paying out . When a life insurance company is bought by another , the purchasing company must honor the guarantees of the policies that are inherited . And there are state insurance pools to secure up to a certain face amount if an insurance company would be unable to meet its obligations .


Input: Where Do You Buy Annuities?

Output: Annuities can be purchased from three distribution channels : career , brokerage and company direct . Generally speaking , career and company direct sell their proprietary annuity products . Historically these offerings have not been as competitive as brokerage distribution channels , who offer many annuity products posted on spreadsheets for consumer review .


Input: Where Do You Buy Annuities?

Output: You buy annuities through licensed life insurance agents . If the annuity is variable , the agent must have some securities licenses in order to be able to sell it to you . If the annuity is fixed or indexed , an agent with a license in Life insurance can sell you that type of annuity .


Input: When Does Medicare Cover Dental Work?

Output: Unfortunately , no dental work is covered either by Medicare or Medicare supplemental insurance . Our experience is that individual dental plans are usually not a good buy as they are expensive , have waiting periods for many procedures and have relatively low maximum payments . However , if you are still employed many group plans do offer coverage that may make sense for you .


Input: Who Needs Life Insurance Coverage?

Output: Who `` needs '' life insurance coverage ? Anyone who has someone who would be financially adversely affected by their demise . That would include anyone upon whom the burden of final expenses would fall . This would also include creditors who would bear the unpaid balances on loans . A person who wants to leave a donation or legacy to a person or organization , but whose estate would fall short of the amount desired to be passed on would also fall into the category of one who needs life insurance coverage .


Input: Who Needs Life Insurance Coverage?

Output: Life insurance can be used for many purposes : business succession , estate planning , charitable giving , key person coverage , etc. . Because it has so many great features , life insurance works well for many financial endeavors . But those who really need life insurance are those who have people who need them , who they would leave behind . Unless they have been able to save up hundreds of thousands of dollars in a short period of time , most people with spouses and/or children need life insurance .


Input: Who Needs Life Insurance Coverage?

Output: Many people need life insurance . Studies show that many people know that they need life insurance . People who love someone else need life insurance to ease the pain of a premature death . People who owe money need life insurance to fulfill their obligations . People who are looking to the future need life insurance to protect their ability to obtain coverage . My favorite though , is wives need life insurance . They are so very important in a family and widowers have such a difficult time when they lose their wife .


Input: Who Needs Life Insurance Coverage?

Output: That is a great question ! There are some people that do n't need life insurance , and it is quicker to list them than it is to list everybody else . You do not need life insurance if you can provide for your funeral expenses -LRB- or are n't going to have any -RRB- , leave no debts , and support your surviving family and/or business with money and estate planning that you 've already provided . If that is you , and you have a large cash balance set aside for your passing , then you do not need life insurance . If you are like the rest of us , and have a desire to provide for those we leave behind , or may have difficulty leaving a legacy , paying off our debts , or paying for our funeral expenses , then life insurance is a blessing . Thank you for asking !


Input: Is Homeowners Insurance The Same As Fire Insurance?

Output: Yes and no . Homeowners insurance protects you from fire , windstorm , hail , and a multitude of other perils . It also covers you for liability , theft , and medical payments if someone is injured on your property . A basic Fire policy is a form of Homeowners insurance but it is much more limited in its coverage .


Input: Does Globe Life Insurance Have Cash Value?

Output: Globe Whole Life insurance does have some cash value ; Globe Term Life insurance does not . You can contact the life insurance company to ask for an illustration that shows how much cash value will be in the policy in the future . If they are unable to provide that , it will be shown on the policy when you get it .


Input: Does Globe Life Insurance Have Cash Value?

Output: It depends on the policy . If it is a Whole Life then it would build some cash value . Any time you purchase insurance it is important to know what you are buying . This is why I suggest buying from an experienced local agent . The average person does not read the fine print when receiving mail or TV solicitations . As a result they think they purchased Whole Life , for example , and later found out it was Term , after the term ran out and they are 86 years old with no insurance . Plus with a local agent your are going to get local service , not speaking with someone over the phone who may not be aware of your circumstances .


Input: Who Sells Renters Insurance?

Output: The majority of insurance companies out there will offer renters insurance . To find out who and toobtaincompetitiverates I highly suggest you contact an independent agent who works with multiplecarriers An Independent agent can then shop for you renters insurance to obtain the mostcompetitivepremiums and coverage 's .


Input: Who Sells Renters Insurance?

Output: The best place to buy renters insurance is from a trusted insurance agent . If you dont have an agent , ask colleagues , friends or neighbors for a recommendation . The agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . Setting limits is the most important part of this process and this is where your agent will give you the most assistance .


Input: How Much Does Auto Insurance Cover?

Output: Most States have a mandatory liability law that means the State prescribes the MINIMUM amount that is required to drive on their highways . This limits varies by State - in Texas , the minimum is $ 30,000 Bodily Injury per person , $ 60,000 Bodily Injury per accident and $ 25,000 Property Damage per accident . You should carry enough liability protection to protect your assets but only YOU can decide what is enough . If I told you $ 100,000 and you were sued for $ 300,000 ... $ 100,000 would NOT be enough . Better to HAVE it and not NEED it than to NEED it and not HAVE it . Other coverages provide protection for your car . In some States , you can by Uninsured Motorist coverage to protect you from an uninsured motorist . Some States -LRB- Michigan comes to mind -RRB- are No Fault states ... and that 's a completely different can of worms .


Input: What Is A Keyman Life Insurance Policy?

Output: A Key Man Life Insurance policy is life insurance that covers the life of key persons in a business . These are employees who represent the top producers and/or leadership in the company , and who would take some time to replace . Key Person insurance provides money to keep the business in the black while this new key employee is found . Key Man Life Insurance can be Term or Permanent , and it can be owned by the business or by the employer .


Input: What Is An Abn Medicare?

Output: Medicare ABN is a form offered up by medical providers when there is reason to believe Medicare will not pay for the treatment or device . When you are given the form you are expected to sign , acknowledging that , if Medicare denies the claim you are responsible for paying 100 % of the bill , usually in advance .


Input: What Is An Abn Medicare?

Output: ABN stays for Advanced Benificiary Notice of Noncoverage . A doctor or Medcare provide may give you an ABN if they believe Medicare may not pay for the service you require . The ABN lists the services and items that Medicare isn ; ' t expected to pay for , an estimate of their cost and what Medicare may not pay for them . There are 3 options for you to choose from on the ABN form . 1 . You want the item or service , the provider may ask you to pay for them but you want a claim submitted to Medicare . The claim may be denied , you may be responsible to pay the provider but you can file an appeal to Medicare . Option 2 : You want the items or service but you do not want the provider to make a claim to Medicare . You may be asked to pay for the items or serivce now . Since the provider did not file a cliam to Medicare you can not file an appeal . Option 3 : You do not want the item or servce trhat may not be paid for by Medicare .


Input: Why Is Health Insurance Employer Based?

Output: Employer based health insurance -LRB- a.k.a. group health insurance -RRB- is health insurance a business owns and offers to its employees . The business generally pays for a percentage of the premiums with the employees paying the rest . It 's often offered as a means of attracting people to come work from them . Group health insurance quotes are based on the size of your business , the industrys SIC code , age of employees , and average employee health -LRB- except in Maryland , which requires no medical underwriting -RRB- . There are no instant online quotes for group health insurance for these reasons . To get a quote for group coverage , you 'll want to contact a health insurance agent - working with an independent one will allow you to shop for quotes from multiple companies in one place . Having too many `` hands in the cookie jar '' can sometimes make things confusing . Feel free to contact me with any questions .


Input: Why Is Health Insurance Employer Based?

Output: Great question ! The benefits package was designed to attract and keep the better employee . Often , when pay rates are the same the addition of benefits , like health insurance , would be the difference between whom you chose to work for . Unfortunately , I think that over the next few years you will see more and more employers push their employees towards the Government marketplace by reducing or eliminating their offering of insurance coverage . By doing this , they will tell you that you will be getting a `` bigger paycheck '' while transferring the company 's expense and risk to you , the employee . I read recently that there were conservative estimates of trillions of dollars of profit for companies in this move , so I ca n't see them waiting too long to make that happen . In some cases , it will be cheaper for the employee , but no one is certain what percentage of the workforce will benefit . Thanks for asking !


Input: What Does It Mean To Be Covered By A Retirement Plan At Work?

Output: Many companies have employer sponsored defined contribution plans like a 401 -LRB- k -RRB- offered to their employees , some even auto enroll . These plans have pretax contributions and accumulate tax deferred . Some employers actually match a portion of their employees contribution further enhancing the employees retirement account . Having a retirement account at work can help you save something every paycheck .


Input: Is There A Limit On How Much Life Insurance I Can Purchase?

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 I got this question . It says , `` Is there a limit on how much life insurance I can purchase ? '' Well , let 's say I 'm going to purchase it on myself , and I need to be able to use financial justification . Financial justification simply means that I have to be able to verify and validate the reason I have coverage . And if I have huge income and I have a massive amount of assets and I 'm looking at a future date on which I think I will die based on my life expectancy , then I can go all the way up to those limits . Sooner or later , I 'm going to hit a limit because I will not be able to justify it . So , can you buy it on as much as you want ? The answer is no . You have to always base your thinking on what do I need to cover all my liabilities , my taxes , and transfer issues at death , and when do I think I 'm going to die . Those are the numbers I 'm looking for at whatever inflation rate of return that I use as my reference point . Well , that 's our consumer question for today . If you have any questions , just submit them to www.insurancelibrary.com .


Input: Is There A Limit On How Much Life Insurance I Can Purchase?

Output: Yes , there is a limit on how much life insurance can be purchased by one person . That limit is based on income , assets , debts , and age . Generally speaking , young adults can purchase approximate 25 times their annual income in life insurance coverage , while seniors can purchase about 10 times their annual income . However , assets enter heavily into the calculation for seniors , so that even if a person in their 70 's is living off Social Security , they could qualify for over $ 1,000,000 of life insurance if they have many assets . The company you purchase your policy from can make a difference in how much life insurance you qualify for . So it never hurts to shop from a broker who can help you get the most coverage .


Input: Is There A Limit On How Much Life Insurance I Can Purchase?

Output: Sure . Financial institutions always set limits on the money they make available . For example , banks limit how much money they will lend you for a mortgage or business loan . Credit card companies limit the amount of credit they will extend you . Venture-capital firms limit the amount of money they will invest in your company . Life insurance companies generally look at your cash flow , debt , and net worth . Pretty basic stuff . Things get exciting when you have exceptional needs . For example , how much money insurance will they let you buy on a minor child ? Or an elder parent ? Or a former spouse ? Certainly , there are limits in all these situations . But the negotiations about the maximum available becomes interesting .


Input: How Does Roth 401K Affect Take Home Pay?

Output: That is a great question ! One of the best things about a Roth IRA is that you fund it with after-tax dollars . That means unlike your health insurance or 401k deductions that come out of your paycheck before taxes are figured , what you put into your Roth is already taxed . The benefit there is that when you start taking money out of it in retirement , you do n't have to pay taxes on it then . This can be a terriffic blessing ! I hope that helps , thanks for asking !


Input: How Does Roth 401K Affect Take Home Pay?

Output: A Roth 401k would be funded with `` after tax '' dollars . Your earnings would have already had taxes deducted prior to funding your Roth 401k . The advantage of a Roth -LRB- vs. traditional 401k -RRB- is your account grows and distributes tax free as long as your contributions have been invested for at least 5 years and you are at least 59 1/2 when distributions begin . A traditional 401k is funded from `` pre-tax '' dollars . Your take home pay will be higher , but you will pay taxes on the money you take out during retirement at what ever your tax rate is at that time . Most people do not have the same level of deductions during their retirement years so you will need to look at your own situation to determine whether a pre-tax or post-tax 401k is best for you . One thing is for sure , if you can afford to pay the taxes now while you are putting money into your Roth 401k , you 'll be thrilled when you pull money out during retirement tax free .


Input: What Is The Purpose Of Surrender Charges In A Deferred Annuity?

Output: That is a great question ! Whenever you deposit money into an account , be it at your bank , credit union , or annuity fund , that money does n't just sit there in a box labelled `` you '' . The financial institution immediately takes the money from the `` you '' box , and uses it to cover their expenses , pay out someone else , or invest it to make their profits . When you take that money out early , it costs them , as they were planning on it being there until the annuitization phase of your annuity was scheduled to begin . Now they have to scramble to get the money back into the `` you '' box . That often costs them money from the interest they were earning by using the money you 'd put in your `` box '' . To recapture some of their loss , and to act as an incentive to deter you from pulling out your `` box '' early , they assess the surrender charges . You will notice that they are highest at the beginning of your annuity , and decrease as time goes on . That is because the longer your money stays with them , the more likely it is that they 've earned what they needed to to repay your money with it 's promised interest . Does that help ? I hope so , feel free to contact me if it does n't , okay ? Thanks for asking !


Input: What Is The Purpose Of Surrender Charges In A Deferred Annuity?

Output: The insurance company sells an annuity as a long term cash accumulation instrument with the ultimate intention being to produce a lifetime income to the annuitant . Each annuity is structured so that the assets of the company can meet the promises that have been made in the contract . To do that they invest in things that have varying maturity dates . That plan of investment is reflected in the surrender fee . To take a bond for example that will mature in five years and cash it in early the company will realize a loss of earnings . The same thing happens when you buy a Certificate of Deposit .


Input: Will Medicare Pay For Plastic Surgery?

Output: Medicare does not generally cover plastic surgery for cosmetic reasons . Medicare will cover plastic surgery if it to restore a part of the body damaged due to injury , or to regain function of a malformed body part . It will also pay for breast prosthesis after mastectomy for breast cancer .


Input: Does Homeowners Insurance Cover Foundation Issues?

Output: Unless the issue is caused by a covered peril your homeowners insurance would not pay for any of the repairs to correct the foundation issues . A foundation issue is typically considered a maintainance issue . Please read your policy completely to know what is covered and what exclusions there may be or contact your local agent to have them go over the policy with you .


Input: What Is Group Health Insurance?

Output: Group health insurance is health insurance policies businesses own and offer coverage under the plan to its employees . The business generally pays for a percentage of the premiums with the employees paying the rest . It 's often offered as a means of attracting people to come work from them . Group health insurance quotes are based on the size of your business , the industrys SIC code , age of employees , and average employee health -LRB- except in Maryland , which requires no medical underwriting -RRB- . There are no instant online quotes for group health insurance for these reasons . To get a quote for group coverage , you 'll want to contact an experienced health insurance broker because there are a large number of moving parts and details in group plans . Working with an independent broker will allow you to shop for quotes from multiple companies in one place and they can help you review and compare plans to determine which option will be most suitable for your business and its employees . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Does State Farm Offer Long Term Disability Insurance?

Output: Yes , State Farm does offer Long Term Disability Insurance under the name , `` Disability Income Insurance '' . State Farm also offersMortgage Disability Income Insurance and Individual Credit Disability Income Insurance . You would need to contact a State Farm agent to apply for this coverage .


Input: What Licenses Are Needed To Sell A Variable Annuity?

Output: You must have a Series 6 license , which is administered by FINRA and is also known as a limited-investment securities license . A Series 6 allows you to sell packaged investment products such as mutual funds and variable annuities . Additionally , the Series 63 , overseen by North American Securities Administrators Association , is a required license in most states . You should also be licensed as an insurance producer with a life qualification . A Series 7 license , administered by FINRA can also work for variable annuities . Always check with FINRA and your state insurance commissioner 's office to confirm requirements .


Input: How To Apply For Part B Medicare Online?

Output: To apply for Medicare Part B online , you can go to the website medicare.gov . There you will find explanations about what to apply for , when to apply , and how to apply for it . Then you will be directed to an online form that you can use to submit your application electronically .


Input: Will Doctors Stop Taking Medicare?

Output: It is highly unlikely that doctors will stop taking Medicare patients . The pool of Medicare patients is constantly growing as baby boomers age in . Medicare is a guaranteed source of payment for doctors . Some doctors may no longer participate in Medicare Advantage plans as cost reductions and govt requirement shrink the number of network providers .


Input: Why Is Home Insurance Going Up?

Output: There are several different reasons home insurance rates increase . Most carriers would probably tell you that at least a portion of their increases are linked to weather/natural disaster related claims increases over the past few years . I often hear from clients in Wisconsin -LRB- our location -RRB- thinking they should not have to pay more for insurance due to the carrier having more lossesfrom fires out west , or hurricanes on the coast.Clients say they did not have a claim so why should they pay more?This debate will rage on but I doubt much will change . Insurance carriers are a business and when they pay out more in claims , due to bad weather or what have you , they have to make up for the difference ; increasing premiums . They spread risk around to remain competetive , trying to balance out higher risk states/locationswith lower risk states/locations . Average premiums on a state to state level often reflect this -LRB- for example , Florida is often ranked number one for premium cost primarily due to the high risk of weather related claims -RRB- . Another common reason carriers provide for increasing prmeiumsis to keep pace with inflation , many policies offer inflation guard to keep pace with estimated values . What is the take away here ? Home insurance is WORTH IT ! Protect your home and investment , likely your most expensive one ! Talk to an independent agent today !


Input: Can Private Disability Insurance Be Garnished?

Output: Whether private disability insurance can be garnished depends on the state in which you live . However , if you put your disability insurance payments in a bank account with other funds , the bank account can be garnished . So it is a good idea to keep those funds separate . Also , if you owe child support or back payments on a bill , even disability insurance payments can usually be garnished .


Input: What Is The Face Value Of A Term Life Insurance Policy?

Output: The face value of a term life insurance policy is referring to the death benefit . It is the amount of money that the beneficiary will receive at the time of death claim of the insured on the term life insurance policy . Usually these face amounts are set at a guaranteed amount for the entire term of the policy .


Input: What Is The Face Value Of A Term Life Insurance Policy?

Output: The face value of a life insurance policy is the amount that the beneficiary would receive if the insured person passed away . People select the face value of their policy at the time when they purchase the policy . It is also called the death benefit , face amount , or coverage amount .


Input: What Is The Face Value Of A Term Life Insurance Policy?

Output: The face value is the obligation of the insurance company should the insured die during the term of the policy . It is stated on the declarations of the policy . Regardless of the time the policy has been in force or the sum of the premiums paid the company is obligated to pay that amount to the beneficiaries that the insured selected .


Input: How Much Is Insurance On A Box Truck?

Output: There is no way to answer this general question but I can provide you some guidance . If this is a commercial use vehicle the vehicle will be rated on where it is operated , how it is operated , radius of operations , and the industry it serves . Then we 'll need to know the coverage required . Commercial vehicles have the same coverages as you will find on a personal auto policy . A vehicle insured as I suggest for business with full coverage and used as a service vehicle , will cost from 3-7 % of its value new each year for the liability and physical damage coverage . I just insured a 2014 work van used for service by a property owner and a value of $ 33,000 MSRP new and the insurance cost was under $ 1,100 a year for $ 1 Mil CSL Liability and UM/UIM , $ 5,000 Med and $ 500 comp and coll deductibles in Ciincinnati . Use as a guide only . Your mileage may vary .


Input: What Bariatric Surgery Does Medicare Cover?

Output: Medicare provides coverage for some bariatric surgical procedures -LRB- such as a gastric bypass -RRB- . For Medicare to cover the procedure , you must meet certain conditions related to obesity . You 'll likely want to review your coverage before getting the procedure done to look at the cost you may be responsible for -LRB- e.g. do you have Medicare Part A & B , a Medicare supplement plan , etc. -RRB- . I recommend consulting with an independent insurance agent/broker , if you want to review your options to add a Medicare supplement -LRB- Medigap -RRB- plan to your Original Medicare -LRB- Parts A & B -RRB- coverage .


Input: What Is A Medicare Plan J?

Output: Plan J is a Medicare supplement plan that used to be available in the Medigap marketplace - in short , it was a plan F that included prescription drug coverage . In June 2010 , rules regarding Medicare supplement plans were restructured and supplement plans could no longer include prescription drug coverage . Therefore , plans E , H , I , and J were no longer available for purchase . To get a similar plan structure today , you need to purchase a plan F and a stand-alone Part D prescription drug plan . If you have an existing one that was already in force before the changes , you can keep it as Medicare supplement plans are guaranteed renewable .


Input: How Many Life Insurance Policies Can A Person Have?

Output: I am working on a case right now in which my client has applied for 11 policies . Here is the breakdown : He is a partner in one business with two other fellows . They have just completed a buy-sell agreement and are funding the agreement with life insurance . Per the advice of their accountant and their attorney , they are purchasing several policies to cover both the current and the anticipated future value of the business . One policy will be owned by the business , and four other policies will be owned by a trust . That gives us five policies so far . My client is also a partner in a second business , with another fellow . They are following the same funding strategy . That business will own one policy , and the trust will own an additional four . Our count is now up to 10 policies . But these policies take care only of business needs . My client is also married with children . He needs life insurance for family protection . So he is purchasing yet another policy for their benefit . That gives us 11 . The underwriter is fine with this set up . My client can justify the need for all policies financially . All policies have been deemed appropriate with regard to the financial needs of the business and the financial needs of his family . And you know what ? He could buy more if he wanted to . Lets suppose he supported a number of charities . They could be religious , or social service , or political . He could take out a separate policy for each of their benefit . Five charities , five more policies . But we have another consideration . What if his net worth is over $ 5 million , and he wants to preserve his estate for his heirs ? What if he wants to avoid forcing his family to liquidate his assets just to pay Uncle Sams estate tax bill ? He could buy life insurance to cover the tax bill . Another policy . We are not done yet :-RRB- . What if his parents were financially dependent on him . It happens . What if his premature demise would put them in financial straits ? He could buy life insurance on himself for their benefit , so they could be well taken care of . Do you realize that in this scenario , this one client could take out 20 or so policies ? And it would all be financially justified and appropriate . How do you like that ? Would you like to keep learning ? Read my blog : planrisklive.com


Input: How Many Life Insurance Policies Can A Person Have?

Output: You can have as many as you want or can afford as long as the total amount of inurance is deemed reasonable by the issueing companies . A single person making $ 15,000 a year may have a heard time convincing the insurance company he has a need or can afford $ 10,000,000 in life insurance . Otherwise there are no rules governing how many policies you can have


Input: How Many Life Insurance Policies Can A Person Have?

Output: There is no limit on the number of policies that one may have on one 's life . However , there is a limit on the total amount of coverage -LRB- death benefit -RRB- on one 's life . Depending on insurer , for insureds under 40 it can be up to 25 times one 's earned income . The multiple is less at older ages .


Input: How Many Life Insurance Policies Can A Person Have?

Output: There is no limit on how many life insurance policies someone can have , as long as the sum of all the face amounts is within what can be justified financially . When you apply for a new policy , the insurance company will ask what existing coverage you have , as well as if you plan to replace any of your current policies . That is partly so they can determine your sum total of life insurance . On average , most people can get about 20 times their annual income in life insurance , but it can be far more or far less depending on age , net worth , and other factors .


Input: How Many Life Insurance Policies Can A Person Have?

Output: You can have several life insurance polices , but it 's the collective amount of total death benefit that ultimately hits a threshold of financial justification . You 're only worth so much and when that threshold is met , you 're ability to purchase additional life insurance is generally limited . Keep in mind that you also have to establish insurable interest between the policy insured and the policy beneficiaries .


Input: Can I Take Out A Life Insurance Policy On My Father?

Output: Yes , you can take out a life insurance on your father if your father consents to it and if the amount is considered financially justifiable . Your father will need to sign the application as the Insured even if you own the policy . If he owns the policy , he can get as much life insurance as his income supports . If you own the policy , you can get as much as is needed for his final expenses . If you want to purchase more than that on your father , you will most likely need to show that you receive some financial support from your father that would be lost if he were to pass , or that you contribute to his support and would get some of that back through life insurance .


Input: Can A Term Life Insurance Policy Be Cashed Out?

Output: Probably your term policy can not be cashed out . There are term life policies that do develop a small amount of cash value ; however , these policies often have restrictions as to when and how the policy can be surrendered for cash . If you want cash value in your life insurance program then speak to a licensed life insurance agent about permanent life insurance .


Input: Can A Term Life Insurance Policy Be Cashed Out?

Output: No unfortunately there is no cash value built up to `` cash out '' . Term life insurance is essentially `` renting '' coverage for a specific period of time such as covering a mortgage . The permanent or cash value plans such as whole life or universal life insurance builds cash value through `` owning '' the insurance plan and can be `` cashed out '' among a lot of other options .


Input: Why Have A Retirement Plan?

Output: Having a retirement plan is simply paying yourself first . The monies you sent aside for retirement today will determine your lifestyle tomorrow and whether or not those years will be your golden years . If you 're in a high tax bracket , you should consider a qualified plan , either individual or at work -LRB- if it 's offered . -RRB-


Input: What Companies Sell Hybrid Annuities?

Output: That depends on what you mean by a `` hybrid '' annuity . usually , a hybrid annuity is an annuity that combines Long Term Care Insurance benefits with it . Currently , Lincoln Financial , Genworth , and Mutual of Omaha all have Annuity/LTCI combo products . I would suggest using an independent annuity expert to help you shop the market and find which one fits your situation best .


Input: Can I Have Two Annuities?

Output: That is a great question ! Yes , you can have more than one annuity . With insurance , you can be limited in the amount of insurance coverage that you want , based upon your income . With annuities , you can have as many as you wish , as long as it is `` suitable '' for you tocontinue purchasingthem . The suitability is based upon your cash flow , asset liquidity , and your age , among other things . In most cases , your money will be tied up for quite a while , and as long as that 's not an issue for you , you can continue buying them . I hope that helps , thanks for asking !


Input: Can I Have Two Annuities?

Output: Yes , you can have more than one annuity . This can happen sometimes when an individual will purchase an annuity and then later came into a sum of money . Rather than just leave the money sitting in a checking account , it can be used to purchase additional annuities . In other cases , you might choose a different payment schedule to help with different expenses . An individual might purchase one annuity with monthly payments to handle their every day living expenses and purchase one with annual payments to provide a larger annual payment . For example if your home is paid off , you might have a small annual annuity to provide payments for property taxes and homeowners insurance premium payment .


Input: Can I Have Two Annuities?

Output: Yes , you can have two or more annuities . Unlike life insurance , you do not have to qualify financially for the sum total of the face amounts of each annuity . Annuities are a way of growing your money and distributing it to you . So you can get as many annuities as you have money to put into them .


Input: Can I Have Two Annuities?

Output: The total annuity dollar amount ultimately will have a limitation . Annuities are mortality products . So the annuity company has risk if the amount is too high for their retention . But can you have multiple annuity polices . There are tax advantaged strategies that use multiple annuity policies called annuity laddering , combining different annuities and/or time periods .


Input: Can I Have Two Annuities?

Output: You can have as many annuities as you want as long as they meet suitability requirements . Never tie up all of your funds into any long term investment or savings vehicle . Maintain a liquid account for emergencies . Keep in mind that annuities are designed for long term savings , primarily retirement funding . If you need to surrender an annuity prior to age 59 and 1/2 there may be tax penalties . Also most annuities have surrender charges if funds are taken out too soon . Before purchasing an annuity check the length of time the surrender charges apply and make sure you find them acceptable and appropriate for your needs .


Input: Is Life Insurance Subject To Inheritance Tax?

Output: If states have inheritance taxes , yes , life insurance proceeds are subject to those . The death benefit of a life insurance policy is also subject to federal estate taxes . This year , 5.25 million dollars is exempt from federal estate taxes . Each state has their own guidelines as to what is exempt from state estate , or inheritance , taxes .


Input: Is Life Insurance Subject To Inheritance Tax?

Output: One of the great things about life insurance is that the death benefit in NOT taxed when paid to a beneficiary that is a person . That is when the beneficiary is NOT an estate , which may then be distributed to beneficiaries . If the death benefit goes to an estate and is then distributed , then it may be taxed as inheritance or may be subject to estate tax if the total estate exceeds the threshold for estate tax . Typically death benefit paid to individuals are not considered as income or inheritance for the purposes of taxation .


Input: How To Find Out Who The Beneficiary Is On A Life Insurance Policy?

Output: You can call your policy 's agent or the carrier directly to find out the current beneficiary structure on the policy . This information can only be released to the policyowner and only the policyowner can make changes to the beneficiary structure , if desired . If the policyowner wants to change the beneficiary , they only need to fill out a simple change of beneficiary form and submit it to the carrier - this can only be done while the insured is living , once they have passed away , no changes are allowed and the proceeds will be paid out as cited in the policy . You want to make sure you do n't create any tax implications to the proceeds when you make those changes -LRB- e.g. violating the `` goodman triangle '' -RRB- - you should discuss changes with your policy 's agent before making any changes to ensure everything is in good order .


Input: How To Find Out Who The Beneficiary Is On A Life Insurance Policy?

Output: Calling the life insurance company through which your policy was issued is the most sure way to find out who is named as beneficiary on the policy . You can do this while the Insured is still alive , or after death . If the insured person is still alive and wants to change his/her beneficiary , it can be done with a simple form .


Input: How To Find Out Who The Beneficiary Is On A Life Insurance Policy?

Output: In order to find out who the original beneficiary is on a life insurance policy , you can refer to the policy itself . In order to determine who is the current beneficiary you would need to check with the insurance company . The company will release this information to the owner of the policy or his/her representative . You agent or broker should be able to assist you . I should point out that in Canada you can name a beneficiary of a life insurance policy in your will . Since that can cause potential issue is is not often recommended . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: How To Find Out Who The Beneficiary Is On A Life Insurance Policy?

Output: If you know who the life insurance company is , it is a simple phone call by either the policyholder , if still alive or a family member . Usually the insurance company will want to know your relationship to the policyholder so they do n't randomly inform people of others beneficiaries . If a change needs to be made to the beneficiary while the policyholder is still alive and in sound mind , it is just a simple form to make the change .


Input: What Medigap Policy Is Best?

Output: The best Medigap policy is the one that fits your needs and budget . For some it might be plan F. Most select Medicare supplement plan F because that is the only one that is presented to them . Plan F pays 100 % of approved Medicare Part A and Part B expenses . What is better than that ? One that delivers more value is better . That is why over 90 % of my clients do NOT buy Medigap plan F .


Input: What Are Some Characteristics Of Whole Life Insurance?

Output: Whole Life , also called Permanent Life , will last for the rest of your life , so long as you pay your premiums . Unlike Term Life , which lasts for a specific predetermined number of years , at a guaranteed rate . Whole life will not go up in price and will not go down in coverage amount . It accumulates cash value , from which you are able to borrow funds , for such things as college , home down payment , or even retirement , or whatever else you desire . With the accumulation in a quality policy , you can fund your retirement , as a substitute for a pension . Thank you . GARY LANE .


Input: What Are Some Characteristics Of Whole Life Insurance?

Output: A whole life policy provides a level death benefit for a level premium over the entire life of the individual . Most whole life policies actually endow and return the face amount at a given age . Whole life insurance provides the cheapest life insurance available for one reason . It is in force when death occurs . The percentage of claims paid on term policies is understandably quite low . The problem with whole life is that the premium required might cause a person to purchase less than an adequate amount of life insurance . A combination of whole life and term insurance can usually maximize coverage and minimize cost .


Input: What Are Some Characteristics Of Whole Life Insurance?

Output: This is a great question and I appreciate the opportunity to offer some answers ! Whole Life Insurance has a lot of benefits ! For one it is highly customizable in the way it may be funded . It can be set up to be funded in as little as 11 annual payments , or paid for monthly over the life of the insured up to age 100 . Whole Life policies have a Guaranteed cash accumulation feature where a guaranteed interest is paid into a cash value portion of the policy , which then becomes a liquid asset accessible at the will of the owner of the policy . The interest -LRB- as well as dividends in participating policies -RRB- is paid into the cash value Tax-FREE . And a policy may be `` over-funded '' up to about 300 % , which of course will increase the tax-free interest growth rate . In a participating policy where dividends are paid in , the dividends may be used to purchase additional insurance . This increases not only the death benefit without ever taking another medical exam or even answering questions , but also increases the dividends paid ! Whole life insurance does not expire . It remains in force -LRB- as long as the premiums are paid up -RRB- until the insured dies , the owner decides to surrender the policy -LRB- for the cash value -RRB- , or the insured reaches the age of endowment . The age of endowment varies with the policy , but may be age 95 , 99 , 100 , or now days may be as high as age 121 . When that happens the entire value of the policy is handed over to the owner of the policy . Income tax free . When paid , the death benefit passes to the beneficiary -LRB- ies -RRB- income tax free . Another option available with Whole Life Insurance is the ability to use the cash value and then to take loans from the policy death benefit to supplement retirement income ! This can be set up to be paid out monthly , quarterly or annually ... and these payments are , again , Tax-free ! So to sum up , Whole Life Insurance does not expire regardless of the possible declining health of the insured and provides a death benefit to beneficiaries that is transferred tax-free . Whole Life grows Cash Value , Tax-Free , which is a liquid asset that may be used for any purpose the owner wishes , and may be accessed without incurring a taxable event by means of a policy loan . With participating policies the cash value can increase by means of guaranteed interest and dividends , which may be used to buy additional insurance with no medical requirements . The premiums are set at the beginning of the policy and are guaranteed not to increase for any reason . And the entire premium may be paid in as little as 11 annual payments , spread out over the lifetime of the insured , or set up to be paid over a 15 , 20 or 30 year period determined by the the owner of the policy . And Whole Life Insurance may be used to supplement retirement income as a tax-free cash stream .


Input: What Are Some Characteristics Of Whole Life Insurance?

Output: Whole life insurance is a great vehicle for planning for the future . The premiums and death benefit remain fixed and guaranteed for life while the policy can build cash value at a great rate - this structure is known as a non-participating whole life policy . The other type is called participating whole life policy . These policies can pay out dividends which can be used in several ways : 1 -RRB- Decrease the premium - the premium would eventually hit $ 0 at some point and the policy would , in essence , be self-sustaining meaning the dividend is equal to or greater than the premium for the program -LRB- if greater , the difference can be used to increase the cash value or increase the death benefit . 2 -RRB- Purchasing paid-up additions - these additions increase the face amount of the policy . 3 -RRB- Increase the cash value at a faster rate . The question of whether whole life insurance makes sense for you depends on the need for the coverage . If you want to use it in the form of a retirement vehicle , you would want to take out the policy when you 're young to give it time to grow . If you are buying purely for the death benefit , I recommend you look at purchasing a Guaranteed Universal Life policy -LRB- these policies maximize the death benefit and minimize the premium as they do n't focus on the build-up of cash value -RRB- . If you only need the coverage for a set amount of time -LRB- e.g. 20 years -RRB- , then you may want to look into term life insurance . While whole life has many advantages , it is also the most expensive form of life insurance . Consult with an independent insurance broker to see which program will best serve your needs . Brokers can look at a variety of options from multiple carriers rather than just one . Send me a private message on here if you 'd like assistance with your program .


Input: Is Long Term Care Insurance Deductible For Federal Taxes?

Output: Tax qualified Long Term Care policies are considered a medical expense and the premiums are treated the same as other medical bills , in regard to federal tax deductions . If Long Term Care policy holder is self employed , 100 % of the premium is tax deductible , up to the premium limits set for by the IRS for each age of policy holder .


Input: When Is The Best Time To Buy Annuities?

Output: The are three basic tax deferred annuity crediting methods : interest rate crediting , indice crediting and separate accounts using equity and bond investments : Once you determine your risk tolerance , and time horizon for distributions , you can prepare to purchase one of these types of annuities for income during retirement .


Input: How Much Is Health Insurance For A Family Of 3?

Output: Health insurance for a family of three can cost between $ 100 per month and $ 1,000 per month or quite a bit more . Rates are much different from one state to another . And of course , you may qualify for a federal tax subsidy through a State Exchange -LRB- in 2014 -RRB- that would reduce your premium . An experienced broker can quickly shop all of the best options for you and show you the lowest prices . That is your best choice for determining the cost .


Input: Can I Terminate My Health Insurance At Any Time?

Output: Yes you can . The question is , do you know what 's going to happen tomorrow?That is what insurance is for , to protect you and your family 's tomorrow . If you break an arm or leg and go to the emergency room , without insurance how would you pay the bill ? Just makes sense to have coverage .


Input: What Does Long Term Care Insurance Mean?

Output: Long term care insurance is coverage that pays for personal care needs and other related chronic care services for individuals who are limited in their abilities to perform the activities of daily living -LRB- two or more -RRB- . Activities of Daily Living -LRB- ADLs -RRB- include eating , bathing , toileting , dressing , moving between a chair and the bed , and remaining continent . The policy typically pays for care that is provided in the individuals home , in an assisted living facility , or in a nursing home . Long term care insurance is available on an individual or a group basis .


Input: Why Would I Buy Whole Life Insurance?

Output: Participating whole life insuarnce can be an excellent supplimental retirement alternative for conservative savers who desire tax deferred accumulation and potentially tax free distributions . To maximize the cash values , the design of the policy needs to use a low base amount with a term rider and paid up additions rider . Some use participating whole life inusrance for death benefit , but many advisors alternatively use guaranteed universal life .


Input: Why Would I Buy Whole Life Insurance?

Output: Believe it or not , there are some people out there who are very happy they bought whole life insurance :-RRB- . I can think of two in particular . These fellows are both in their late 50s . They have been in business together for over 30 years . As a matter of fact , they grew up together . They run a very successful catering business . They each bought a whole life policy when they were first starting out in their career . They each had just gotten married , and were intent on starting a family and growing a thriving business together . The each qualified for one of the best underwriting classes , and were prepared to make a commitment to keep paying the premium . They each chose a blue-chip company with a history of paying big dividends consistently . Now fast forward 30 years . As you might imagine , there is a ton of money inside those policies . And it keeps growing . The guaranteed interest rate is better than anything else you can find . The size of the dividends are also extremely competitive for a conservative product . They each were smart in managing their money . They have other funds available for emergencies , for growing their business , for recreation , etc. . So they can just let their insurance account value grow and grow . When the time is right , they can draw down a pretty significant cash flow . And you know what ? If worked out correctly , they wont have to pay a dime of taxes on that money ! If they do have an emergency , then the cash in that account can be available within days . No credit check , no hassle . Again , with the proper guidance , they can avoid taxation and still secure the survivor benefit needed . In the case of these two successful gentlemen , whole life worked out just fine .


Input: What If I Can't Afford Health Insurance In 2014?

Output: I would encourage you not to assume that you can not afford health insurance coverage . You can still obtain quotes from companies that have historically provided individual policies and they will continue to do so and you may find a better fit for your needs by calling Humana or Golden Rule -LRB- UHC -RRB- or your local insurance agent can assist you . If you fail to have coverage the rules after 03/31/2014 is you must pay the fine . One of the objectives of the ACA is stop individuals that do not have coverage failing to pay into the health care system .


Input: Can Annuities Be Paid Monthly?

Output: Some annuities can be paid on a monthly basis . The premiums accumulate and draw interest until the annuitization phase , when you begin drawing out the money as income . Single premium immediate annuities can NOT be paid monthly . But there are several types that CAN be paid monthly . A good agent can help match you with the right annuity for your situation .


Input: When Is Open Season For Federal Life Insurance?

Output: You can change your coverage only when you have a `` life event '' which includes marriage , divorce , death of a spouse , or adoption of an eligible child . During this `` life event , you can enroll or increase coverage in Basic , Option A , up to five multiples of Option B , and/or upp to five multiples of Option C . You must submit an SF2817 to your human resources office within 60 days after the life event . The last `` open season '' was in 2004 and none are scheduled


Input: What Does American Income Life Insurance Do?

Output: AIL is one of many life insurance companies that sell life insurance to worksites and to individuals . They are a captive agent company which means they hire newly licensed agents and train them . Their agents only offer the products from the AIL company . AIL generates leads by giving employees of businesses a small temporary life insurance policy for free in order to set a meeting with you for the purpose of selling you additional insurance . As with all insurance companies , shop the rates of what they are offering you with a number of companies BEFORE you sign up to see how they compare on price and policy features .


Input: Does Renters Insurance Cover My Cell Phone?

Output: Renters insurance policies will typically provide some limited coverage for electronic items up to the policy limits and usually less your deductible . In most cases your cell phones value will be less than the deductible on the policy . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: How Would You Find Out Who Is The Fiduciary Of Your Retirement Plan?

Output: Assuming youre not addressing individual retirement plans like IRAs and SEPs , your annual statement should include your 408 -LRB- b -RRB- -LRB- 2 -RRB- fees -LRB- including admin fees -RRB- and you compliance statement 404 -LRB- c -RRB- which should cite your administrator who has fiduciary responsibilities for your plan . You also should be able to find out who is the fiduciary of your plan through your companys human resource department


Input: How Old Do You Have To Be To Buy Long Term Care Insurance?

Output: There is no specific age at which you can or can not buy Long Term Care insurance , however for most people the cost of Long Term Care insurance is not much cheaper for those under the age of 40 . For most people , the age at which time they begin to seriously consider a Long Term Care insurance is around someone 's mid 50 's .


Input: How To Find A Lost Life Insurance Policy?

Output: One good place to start is your state department of insurance . Many states have now established policy locater services . Another resource is the carrier from which the insured bought other policies . People frequently buy life insurance from the same company that provided their home and auto coverages . And , as mentioned by my colleagues , you have the Medical Information Bureau -LRB- WEBSITELINK as well as private locater services .


Input: How To Find A Lost Life Insurance Policy?

Output: If you are looking for your own life insurance policy , you can get a new copy simply by calling the company through which it was purchased . They can find it by your personal information . If you are looking for the policy that belonged to someone who passed away , you can do the same thing , if you know the company from which they bought it . If not , try contacting an agent or agency who might have sold it to that person . If all else fails , the policy should be turned over to unclaimed property after a few years .


Input: How To Find A Lost Life Insurance Policy?

Output: There is an easy way to find a lost life insurance policy through the MIB policy locator service . They collect data from almost all U.S. life insurance companies and the database has over 190 million records . The service can also tell you to which carriers applications have been submitted to . It cost on average $ 75 to obtain the report which you can order online or by mail .


Input: Does Allstate Offer Renters Insurance?

Output: Yes , Allstate offers renters insurance . Here is a link to their website for renters insurance : WEBSITELINK . I would suggest shopping around as well with the other companies like State Farm , American Family , etc. . Who is your automobile insurance with ? If you ask your company about renters there may be a discount for you as you can bundle different coverage 's that you need .


Input: Who Is Eligible For Medigap?

Output: You must have Medicare Part A and Part B to be eligible for a Medigap plan . But eligibility alone does not guarantee coverage . If you apply during your initial enrollment period you can apply for any plan with any carrier and coverage is guaranteed . After that you must submit evidence of insurability unless you are applying during a guaranteed issue period .


Input: Is It Ever Too Late To Plan For Retirement?

Output: Yes , procrastination can have a significant impact on your retirement lifestyle and taint your golden years . But that being said , something is better than nothing , so saving now is important . You may want to consider working until age 70 to maximize Social Security benefits and give yourself more time to save .


Input: What Kind Of Account Is A Roth IRA?

Output: That is a great question ! A Roth IRA is an Individual retirement Account that is designed to allow you to contribute up to $ 5500 -LRB- $ 6500 if you are 50 or over -RRB- a year for your retirement . It is an excellent vehicle for saving for your retirement , since the money that you put into it is after-tax money , making the money that you pull for retirement tax free . you can continue to contribute to this account for as long as you 'd like , and there is no requirement for when , or how much , you need to withdraw from it . If you would like to discuss how this kind of account might work for you , please feel free to contact me , and I 'll go over it with you . Thanks for asking !


Input: What Type Of Renters Insurance Should I Get?

Output: In order to advise as to what type of coverage 's to obtain I would ask you a series of questions to help determine your needs . Basically how much of your personal property do you wish to insure . Do you have any high value or unique items . Also how much inassets do you wish to protect in the event of a law suit . These are just a few questions that would be asked .


Input: Does Home Insurance Go Up?

Output: Home insurance rates can fluctuate each year depending on industry trends from the past few years . If you live in an area that has been hit by catastrophic storms or fires in the last couple years then chances are your entire area will see increases . The opposite is true as well ; if your area and terrain are low risk then you may see decreases year over year . Keep in mind that over time the cost to rebuild your home increases regardless , just as the cost for everything else in life increases .


Input: How To Check If Your Health Insurance Is Active?

Output: To learn if your health insurance policy is active , call your insurance professional or your carrier directly . They will ask your policy number , if you do not know your policy number your personal information recorded on your application will suffice . I can not stress enough the value of a personal relationship with a local insurance broker . This highly trained professional is in the business of looking out for you . They stay in contact , informing you of recent industry updates that may affect you and your family . You never pay for this service . While you can bypass the insurance professional and buy your own insurance plan , this is not a good idea . You wo n't know what you 've purchased until you need it and the bills start pouring in or you discover you do n't have the coverage you thought you had ; or both . I hope this response has been helpful . .


Input: How Much Does Medigap Pay?

Output: That is a question only you can answer . Consider this . Medicare has two parts . Part A -LRB- hospital -RRB- and Part B -LRB- outpatient -RRB- . Medicare only pays about 80 % of the cost of your care , you pay the other 20 % . Your financial responsibility is unlimited . If you are comfortable with paying large deductibles for hospital admission and 20 % of outpatient charges you may not need a Medigap plan . The per admission Medicare Part A deductible is $ 1184 . The Part B annual deductible is $ 147 followed by 80 % coinsurance . -LRB- Medicare pays 80 % , you pay the balance -RRB- .


Input: What Type Of Insurance Is Disability Insurance?

Output: Disability insurance is a form of health insurance designed to protect your income in the event of a covered sickness or accident . Unlike life insurance it provides a living benefit . Disability insurance is not utilized by individuals the way it should be , especially inyoungeryears . If you do not have it through your employer then you need to consider disability coverage .


Input: What Type Of Insurance Is Disability Insurance?

Output: Disability insurance is paycheck protection , but it can also cover retirement contributions . In general terms disability benefits can generate 60 % of your earned income tax free or if your company pays for it and deducts , generate 80 % of your income , but its taxable . Then in addition to protecting your earnings , you can cover your annual contributions to your qualified retirement plan . Businesses can purchase business overhead , key person and even bank loan protection .


Input: What Type Of Insurance Is Disability Insurance?

Output: Disability Insurance kicks in once a person has been declared disabled by the definition of the Insurance company offering coverage . Typically a disabled person has trouble with returning to full time work in their chosen profession . The definitions for Disabled vary but once a person qualifies they can receive a portion of their income based on how the policy was set up . Sometimes this type of insurance is purchased by an individual , sometimes by a company for its employees . Social Security even offers a disability benefit .


Input: What Are The Benefits Of A Retirement Plan?

Output: The benefits of a retirement plan can directly impact your lifestyle in your golden years . It can not only fund basic living expenses , but may also provide extra travel opportunities and assisted living when you need help later on as an elderly senior . Retirement funding is all about paying yourself first .


Input: How To Estimate Renters Insurance?

Output: Renters insurance the first step you need to do is look at all your belonging tv clothes and personal items and look at what the replacement value is what it would cost if you lost everything and had to buy it all over again . Many do not realize of how much it would cost to replace most of our things since we have gather all that stuff over the years . Granted you ca n't put a price or a value on something such as photographs and things that your child made you but your other things can be quite costly to replace . The average renters contents to replace is30 to 40 thousand if you have to replace everything . As far as the cost of a policy goes the average 100 to 140 a year . Depending on your Liability limits . and if it is a full replacement cost for the coverage of your contents


Input: Does Health Insurance Cover Mole Removal?

Output: If the mole is non-cancerous , most health insurance policies will not cover removal . Health insurance plans cover most `` medically necessary '' conditions and SOME cosmetic procedures . Removal of a mole strictly for cosmetic reasons will most likely result in a claim that is denied . Examples of cosmetic procedures that may be covered include reconstructive surgery to repair damage caused by injury . Breast reconstructive surgery following removal of a cancerous growth is another example .


Input: What Companies Buy Annuities?

Output: Assuming this question is addressing literally means companies purchasing annuities , there are a couple of talking points here . If a company owes an annuity , i.e. an artificial entity , they may be purchasing it for the interest rate , which is generally higher than bank CDs or possibly for their retirement accounts .


Input: What Is The Biggest Mistake Self Employed People Make When Getting Health Insurance?

Output: Self-employed health insurance can be very affordable , if you shop the right way . A big mistake made by small business owners is that they either incorrectly calculate their federal subsidy , or choose a policy that appears to very inexpensive , but ultimately becomes extremely expensive because of higher-than anticipated premiums and high out-of-pocket costs that were not initially understood or explained . An experienced broker can review all Exchange plans -LRB- Platinum , Gold , Silver , Bronze , and Catastrophic -RRB- , determine the correct subsidy , explain Health Savings Accounts -LRB- HSAs -RRB- and determine if they the tax benefits and low premiums would be beneficial . Also , accurate calculation of the federal subsidy is critical , and it 's important that a broker offer his/her expertise so you do n't owe an unexpected tax bill in the Spring . The ACA Legislation has changed the scope of US healthcare , and professional expert and unbiased guidance is always recommended . And each year , new plans and carriers become available on state and federal Marketplaces . The SHOP Marketplace is also available for small business owners . IMPORTANT : This question was answered by Edward Harris , one of the premier health insurance brokers in the US , and owner of majormedicalhealth.com , which provided free online quotes and the lowest rates from top-rated companies .


Input: What Is The Biggest Mistake Self Employed People Make When Getting Health Insurance?

Output: Not seeking out the help of a health insurance professional who can show them health plans both on and off of the government health insurance marketplaces would be Number 1 . The second biggest mistake is focusing solely on the monthly premium . It is no secret now that health insurance has gotten substantially more expensive for most people . What is not discussed as much is that really understanding what you are buying when you purchase a heath insurance policy has become much more complicated . Even if you are at an income level where you qualify for a subsidy of your monthly premium , and possibly cost sharing reduction , through the government health insurance marketplace , that does n't mean the most people will understand what they are enrolling in from the information they see on the government web site . As this is a decision that is extremely hard to change once it is made , you need to do your homework before you buy . Are the doctors , hospitals and pharmacies you want to use in-network providers with the plan you are considering ? Does the plan offer out-of-network coverage if you want to use a health care provider outside the network ? Do you have to get a referral from your Primary Care Physician before you can see a specialist ? Are the prescription drugs you are taking included in the insurance company 's prescription drug formulary ? And , if so , at what level are these medications covered and might you be required to go back and try other medications -LRB- even ones you have tried in the past and found not as effective as your current medication -RRB- before your current medication would be covered ? If you need access to the services of a nationally recognized facility such as M.D. Anderson or The Mayo Clinic would they be covered and , if they are , what steps would you have to go through to gain access to them ? If you do n't know the answer to all these questions and many more you are not really in the position of being an informed buyer and that 's why you need professional guidance from an experienced insurance broker . At today 's premium levels it is easy to settle for the lowest possible cost plan and just hope for the best . However , this could be a big mistake . Sometimes a relative small difference in monthly premium costs for a more expensive plan can save you hundreds or thousands of dollars in out-of-pocket expenses when you start needing health care services . This is something you need to think through before you purchase your health insurance coverage .


Input: What Is The Biggest Mistake Self Employed People Make When Getting Health Insurance?

Output: Not using a broker . You are likely an expert in your field , which is why you started a business . However , there are many aspects to running a business that have nothing to do with your industry , for which you will need the advice of a professional . A licensed insurance agent will save you time and money because , at zero cost to you , the agent will do all the research to find you the best health plan that suits your particular need . This will free you from scouring the various insurance companies and their numerous plans , hoping you are making the right choice . Your agent will inform you about subsidies you may qualify for and they will continue to keep you informed of changes that affect your coverage year to year . Although many people may have the same health insurance plan , not every plan is right for every person . An agent will be able to help you design a benefit plan and explain what coverage you have so there are no unwelcome surprises . Good luck !


Input: What Is The Biggest Mistake Self Employed People Make When Getting Health Insurance?

Output: The biggest mistake self employed people is in reporting annual income . Interestingly , men tend to understate and women tend to overstate ! For purposes of Obamacare subsidy , the premium you pay and the policy coverage is driven by age , household size , location and income . The government is paying part of your premium and if they give you too much subsidy , at tax time they take it back on your tax return . This could leave you owing a lot of money . It is vital to report accurately and to report income changes in timely way . For the best results , connect with an agent in your local area . This person will review your subsidy with you annually and can assist you during the year .


Input: Is Disability Insurance Worth Buying?

Output: The only time disability insurance is worth buying is when you become disabled . Otherwise it is a waste of money . The catch is no one knows when they can or will become disabled it is an absolute must in your financial planning . Statistically we are 8 times more likely to become disabled than to die at an earlier age . Disability insurance for those whose greatest asset is their ability to earn money is a must .


Input: How Long Does It Take To Sign Up For Medicare?

Output: The application process for individuals applying under their initial open enrollment period can be completed on the social security website , ssa.gov . If you 're applying under a special enrollment period , I would recommend completing the paperwork at your local social security administration office . It can generally take about 3-4 weeks for the paperwork to be processed and for you to receive your Medicare card -LRB- sometimes longer depending on their volume and time of the year -RRB- .


Input: What Is The Cheapest Health Insurance Plan?

Output: The cheapest health insurance plan is a `` short-term '' or `` temporary '' policy . Typically , it is designed to provide approximately 1-6 months of benefits and does not cover pre-existing conditions . However , it is ideal for graduating students , persons with seasonal employment , workers that are laid off or anyone waiting for Medicare benefits to start . Rates can be as low as $ 25 per month for younger persons and under $ 100 for a family , depending on age and zip code . As an experienced broker , we shop for the best rates from the top-rated carriers , so you can get the best pricing and be approved within 24 hours .


Input: Does Roth IRA Have Early Withdrawal Penalty?

Output: A withdrawal can be made from a Roth IRA without incurring any income tax or penalty to a point . If you have held the contract for more than five years and have passed age 59.5 , or are disabled distributions are income tax free . If you are using the funds for education , there isnt the 10 % penalty . You can withdraw the total of your contributions without income tax or the 10 % penalty .


Input: How Much Does A Pool Raise Homeowners Insurance?

Output: In and of itself , a pool wo n't necessarily have an affect on your Home Insurance premiums . Unless you construct a more elaborite oasis for your family that may include a cabana , changing room and storage building that might require an increase in the `` Other Structures '' coverage in your homeowners policy , you should n't notice a change . However , with the addition of a pool , you do increase your personal liability exposure so be sure to talk to your insurance professional about your coverage options . It is always a great idea to look for extra protection in the form of a Personal Umbrella Liability policy .


Input: What Is YRT Life Insurance?

Output: YRT Life Insurance stands for Yearly Renewable Term Life Insurance . This is life insurance that must be renewed each year , and for which the price may go up each year . Some YRT policies require a new exam and qualification to be renewed for the next year , and some do not .


Input: What Is YRT Life Insurance?

Output: YRT means Yearly Renewable Term . So it 's a Term insurance good for one year and guaranteed renewable . That is up to a certain age , usually 80 years . However the premium does go up every year as dictated by the mortality table . So if a person in their 20s starts a YRT the premium may actually Not increase on the 2nd or 3rd year - or at least not more than a couple dollars . But if a person in their 40s or 50 starts a YRT you can count on the premium increasing significantly each year it is renewed . That 's just how Term works .


Input: Does Home Insurance Cover Broken Windows?

Output: A broken window may be covered by a homeowners insurance policy depending on what broke the window . If an object flew through the window or a vandal broke the window this would be covered minus your deductible . Of course there are other perils that could be covered as well . Just keep in mind your deductible does apply and more often then not if the window is the only damage the window is probably less then your deductible .


Input: Who Has The Best Permanent Life Insurance?

Output: Who has the best permanent life insurance ? Well , the answer is similar to which medical school is the best one ? The answer is the one that accepts you . The good thing for consumers is their is a large number of `` best '' companies to work with . They have the financial ratings and history to be among the best out there . It really comes down to who will take you at the best price you 're willing to pay . These companies underwrite to the market they want . You may find one company offers a better deal because you fit their ideal client model . For somebody else ? Maybe not .


Input: Who Has The Best Permanent Life Insurance?

Output: Getting insurance you can afford is the first step . If you can not afford it , you will eventually cancel it . Second , go with a company that provides quality coverage , lots of benefits , at a good price . We have a product exclusive to our brokerage , through one of America 's oldest carriers , which provides not only a death benefit , but a variety of living benefits , saving you large sums of money and allowing you to have only one policy for a variety of protections . If you become disable , ill , chronically or terminally , it allows you to receive up to 90 % of your death benefits while you are living . You can use it for experimental drugs anywhere on Earth . Is n't this the type of protection you really want ? I am eager to help anyone , anywhere , with this type of coverage and provide all the details . Love to hear from you all . Thank you . Gary Lane . 714 422 9616 .