Input: Do I Really Need A Medigap Policy?

Output: If you have plenty of money to back you up if you run up large medical bills you do n't HAVE to have a Medicare Supplement policy . You can always take your chances and self insuring for the what ifs . Actually the hi-deductible Plan F is designed for that same purpose . You can protect yourself just in the event of large bills .


Input: How Much Can I Borrow From My Life Insurance?

Output: The amount of money you can borrow from your cash value life insurance policy depends upon several items . Was the policy designed for cash accumulation or death benefit coverage ? What was the crediting method : interest rates , indice returns or separate subaccount performance ? How long has the policy been in force and are there surrender charges that apply when taking out loans ? And speaking of charges , what is the loan cost for borrowing from your policy . All these items should be addressed before borrowing from your policy . So , order an in force ledger to determine what you have then another in force ledger that demonstrates how much you can borrow and still keep the policy in force .


Input: How Much Can I Borrow From My Life Insurance?

Output: This assumes you own a permanent form of cash value life insurance : participating whole life or current assumption universal life that uses differing crediting methods . Participating whole life uses spread loans and direct recognition loans . Universal life uses zero net cost loans , wash loans , spread loans and participating loans -LRB- indexed universal life . -RRB- The cash value account and the surrender cash value account holds the answer to the amount you can borrow , but keep in mind that borrowing can reduce your death benefit coverage and may have tax ramifications if the policy lapses , is surrendered or matures .


Input: How Much Can I Borrow From My Life Insurance?

Output: Only permanent life insurance has non-forfeiture provisions . These are required in order to borrow money from a policy . The general purpose for these funds is to allow the policy to provide a level death benefit for a level premium . At any time , the company will give you those funds if you surrender your policy . They also allow you to borrow a significant percentage of the funds as a loan . There is nominal interest paid to the company for this loan but it can be taken without explanation . The death benefit is reduced by the amount of any outstanding debt .


Input: How Much Can I Borrow From My Life Insurance?

Output: In general , policies that have a cash surrender value and have been inforce for awhile have a maximum loanable value of close to the surrender value . Your annual statement may also have the value for loan purposes . Policies vary widely and there are many factors to consider . The best way to get a current value is to contact your agent or the insurance company directly .


Input: How Much Can I Borrow From My Life Insurance?

Output: That is a great question ! When you look at your policy paperwork , you will see a bunch of numbers in the `` cash value '' section . This cash value is the amount in your policy that is available for you to borrow . There may be limitations on how much of that money they will allow you to borrow , so please contact your agent , or the company , and find out how much would be available for you . There is an interest rate on what you borrow , and it is wise to know what that amount is also . Please remember that whatever amount remains unpaid at the time that you pass will be subtracted from what the company pays your beneficiary ; and that if the borrowed amount and interest becomes too big , it can cause the policy to end , so be careful , okay ? Contact me if you need help , and thanks for asking !


Input: Who Regulates Disability Insurance Companies?

Output: Disability insurance is regulated by each states department of insurance . All disability insurance companies must file and obtain approval from the department of insurance . Each company may have additional proprietary procedures that regulate definitions of disability within their retention and auto binding reinsurance pools .


Input: How To Shop For Home Owner Insurance?

Output: Shop for a trusted insurance agent first . Let the agent help you . If you dont have an agent ask friends , colleagues and neighbors for recommendations . A good insurance agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . The agent will provide guidance in setting the limits of the policy . Regardless of the premium , a policy that doesnt cover a loss adequately is just too expensive . Dont fall into the trap of thinking that premium is the most important thing , proper limits are much more important .


Input: How Does Renters Insurance Benefit The Landlord?

Output: That is a great question ! The landlord needs to provide a safe environment for the tenants , and carries insurance on the property . To help protect the property manager/complex from a higher liability , your renters policy helps take some of that liability off of their shoulders . If you damage the apartment , or someone is injured in your apartment , your policy covers some or all of that claim , and not the landlords . Thanks for asking !


Input: How Does Renters Insurance Benefit The Landlord?

Output: Renters insurance protects the landlord in the event someone is injured on his property at the fault of the tenant . Even though the fault is the tenants , the landlord can still be named in a lawsuit . Requiring a tenant to carry renters insurance provides liability coverage which would pay first , thus reducing or eliminating any exposure to the landlord , depending on the amount of the settlement .


Input: What Is The Difference Between An ETF And A Mutual Fund?

Output: In Canada , an EFT -LRB- Exchange Traded Fund -RRB- and a Mutual Fund are similar , but there are differences . This is an overview only . Mutual funds are actively traded by investment managers . They set a strategy and buy and sell stocks and more to achieve a return . An EFT reflects the performance of an index the S&P 500 or the S&P / TSX Composite for example . Note : There are some mutual funds and segregated funds -LRB- variable annuities -RRB- that hold EFTs as investments . If you have further questions , or if you feel that I could be of assistance , please do not hesitate to contact me . Mutual funds are often used as part of a retirement plan . If you would like to work with a local Retirement Planner , you could start with a Google search . For example , if you search for : retirement planner Halifax or retirement planning Halifax , my name , along with several others , will come up . You can use the same method to find Retirement Planners in your community .


Input: When Should I Get Disability Insurance?

Output: You should secure disability coverage as soon as you begin working full time . Disability insurance is paycheck protection . Most Americans have 90 days in cash reserves , so a disability could be financially devastating . The odds of experiencing a disability event are much higher than death , so its an important part of defensive planning .


Input: Does Comprehensive Auto Insurance Cover Hitting Deer?

Output: Yes , your Comprehensive coverage covers any animal strike , falling trees , rocks , vandalism , anything other than a collision . Since an animal is not considered an inanimate object , an animal strike is covered under the comprehensive portion of your auto policy . Collision covers a collision with trees , other auto 's or other vehicles , and other inanimate objects .


Input: When Should I Drop Term Life Insurance?

Output: When Term insurance enters the annually renewable period , there is no good reason to hang onto it , unless you only have need for coverage for another year , or if you are terminally ill . Those premiums are going to continue to go up every year , so it 's best to bite the bullet and get a new policy now . If your policy has not yet reached the end of the term , you could check to see if you can convert it to a permanent policy . If you are going to pay higher rates soon , anyway , it is far better to pay them for a permanent policy . Converting does not ask any health questions , so can be done with a simple form and is an excellent way to extend coverage if your health has declined since you took out your Term policy .


Input: When Should I Drop Term Life Insurance?

Output: Unless your financial reasons for originally purchasing term life insurance have are no longer a reality , you should continue your coverage . If your financial liabilities are ongoing you may want to consider converting your term life insurance to permanent life insurance if the existing policy permits .


Input: Does Renters Insurance Cover Aquariums?

Output: I can not see an exclusion for aquariums . There is an exclusion for the fish inside the aquarium . Those fish are not covered . The damage to the aquarium would have to be from a listed peril but on most renters policies the list is comprehensive . The only reservation that I would have would be a leaking aquarium . Damage caused by leaks that are not sudden is not always covered .


Input: Does Renters Insurance Cover Aquariums?

Output: Great question ! The aquarium itself , and the equipment to keep it running should fall under your coverage , but where you may find it not covered would be the things inside the aquarium . Your insurance company will not be too likely to replace your expensive coral , or the value of the fish you put into the aquarium . You will also want to specifically ask about the coverage should it break , and the water cause damage that could be claimed . I have had friends that have had riders added to their policies to cover their elaborate salt water setups , and happily paid the extra cost . I hope that helps . Thank you for asking !


Input: Is Variable Universal Life Insurance Worth It?

Output: Variable universal life insurance ; -LRB- VUL -RRB- may be a risk based policy . I say maybe a risk policy ; because you could elect to fund the fixed account , but the expense loads are so costly , that would be a mistake and not worth it . Many consumers , who purchase VUL , fund their sub-accounts ; which has market risk . It seems antithetical to purchase a risk based policy to insure proper coverage . That being said , VUL may be a consideration for long term investors who are suitable for risk and are looking for the additional tax advantaged features . If the VUL policy is designed with the lowest TAMRA compliant death benefit and kept in force for the life of the insured , it can be an alternative investment option .


Input: Is Variable Universal Life Insurance Worth It?

Output: Is variable universal life worth it ? It 's going to depend on the individual who purchases it . Variable Universal Life has many `` moving parts '' that require attention . This is not a purchase and put in the drawer policy . It requires `` management '' by the individual who purchases it . These policies may require rebalancing and/or changing funding options within the choices . Anyone who purchases a VUL should have a good understanding of investment risk and what it requires for the best possible outcome . For me personally , I am not a fan of VUL as I feel some things in a portfolio should be boring , safe and consistent and offer a reasonable return . I feel traditional old fashioned whole life offers that to an individual . It becomes a personal question of how much RISK a person should have . For me , my whole life respresents a boring financial product , one that did ` nt go backwards in 2008 , when all my exciting ones did . Personally , I want something that is steady , along with something else that has more risk but greater return possibilities . Again personally speaking , I do n't feel insurance should ever be an `` at risk '' product . Just me , old school , sorry .


Input: How Long Is Short Term Disability Insurance?

Output: There are several short term disability policies that generally cover up to two years on employer sponsored group benefit plans . You can also purchase a short term individual disability insurance policy , some cover up to five years . It is recommended , that if nothing else , you buy short term disability insurance if your employer does n't offer it .


Input: Is A Medicare Card A Social Security Card?

Output: No , a Medicare card is different . You can expect to receive a card in the mail prior to the month in which you turn 65 . At that time you will be advised about the features and benefits . You will also be instructed on how to pay for Part B . If you do not receive a card when you turn 65 you should contact www . medicare.gov for instructions .


Input: What Does A Life Insurance Urine Test Look For?

Output: Primarily drugs and nicotine . They will also screen for any other abnormalities that could affect your health depending on the amount of the policy . Insurance companies do this to insure that they rate the policy properly . Life insurance rates are based on average mortality , in other words , your expected life span . Since tobacco and drug use have an adverse effect on your life span , companies charge an extra premium to compensate .


Input: Why Would A Landlord Require Renters Insurance?

Output: While I am not sure a landlord can require renters insurance asa condition for a lease , it is in his interests as well as your for such a policy to be in force . There is often a misconception that the Landlord is responsible for the tenants personal property located inside a rental unit . To reduce the confusion the landlord might be asking for you to carry a policy that clearly provides coverage for your personal property while located in his rented premisis .


Input: Why Would A Landlord Require Renters Insurance?

Output: In my experience , landlords , or their lawyers , require tenants to provide insurance for a number of reasons . First , it shows the tenant is prudent and responsible . Most will agree it is prudent and responsible for any residential or commercial tenant to maintain adequate property and liability insurance . Before most insurance companies issue an insurance policy , they screen potential insureds to make sure they are responsible citizens and have reasonably good credit . If someone is able to secure insurance coverage , a landlord would have some assurance the tenant has passed those tests . In addition , if a tenant 's negligence causes injury or damage to the landlord 's property or injury or damage to other tenants or guests in the building , the tenant may be ultimately responsible to indemnify the damaged parties . To have some assurance the tenant has the resources to back up that obligation , the landlord often requires the tenant secure specific amounts and types of insurance .


Input: Can Car Insurance Overlap?

Output: Certainly , but you do not want this situation as most policies contain a ` other insurance ' clause in them and this could create problems you do not need in the event of a loss/claim occurringin the ` overlap ' period . Follow the cancellation procedures outlined in the policy you desire to cancel and have no gap between the cancelled policy and the replacement policy . DO NOT RELY ON A NEW BROKER OR AGENT TO CANCEL YOUR EXISTING POLICY WITHOUT GETTING DOCUMENTATION IN WRITING THEY ARE SENDING APPROPRIATE CANCELLATION DOCUMENTS AND EVIDENCE TO YOUR CURRENT CARRIER . Remember , the contract is between you and your current carrier and only you -LRB- the named insured -RRB- can request cancellation of your policy . Also be aware that ` auto pay ' or ` EFT ' payment modes on an existing policy may not be terminated immediately and your account may be ` swept ' for a premium due within the next 21 to 30 days . Make sure your auto pay or EFT plan is terminated asap -LRB- and get evidence -RRB- when your policy is cancelled .


Input: Can Car Insurance Overlap?

Output: Car insurance should not overlap and there is not a good reason why it ever should . You can not collect on two claims for the same incident . So , for example , if your new auto insurance policy is effective on the first day of the month , your previous policy should be cancelled effective the same day . Naturally , you should be certain you are officially approved and you have reviewed the new coverage before terminating any other coverage .


Input: What Is A 10 Year Term Life Insurance?

Output: A ten year term life insurance policy is one that -LRB- usually -RRB- stays the same price for 10 years . After that 10 year period of level premiums , the price jumps way up , or the policy simply ends . Some 10 year term policies offer the option to convert to permanent insurance before the 10 years end .


Input: What Is A 10 Year Term Life Insurance?

Output: Some folks purchase temporary life insurance rather than whole life , either because they have a very temporary need , or feel they do not want to use life insurance as a financial tool . When they do that , they frequently purchase a policy that will last only for ten years , if they pay the premium each year , and do not want it to change . This is called ten year level term . After ten years , if they are alive , they will probably need to start over again and get level term , now at a higher rate , or whole life . With the product I have , New York Life offers a ten year level term , but also offers an annually renewal policy , which works out about the same over ten years . The hope is that and the expectation should be , that the policy holder decides during those ten years or earlier , to convert their term policy to a permanent whole life policy , which builds up cash value and can be borrowed against . Let 's talk . Gary Lane , Registered Representative , New York Life . 949 797 2424 . Thank you .


Input: Can Group Health Insurance Be Denied?

Output: Employer based Group health plans are considered guaranteed issue , and can not deny coverage to any individual . Some plans can impose waiting periods on certain pre-existing conditions , but no more then a year . If the employer does not really have a group plan but just pays for a series of individual plans , there could be a possibility of denial based on underwriting


Input: Can Group Health Insurance Be Denied?

Output: Are you asking in reference to whether setting up a group health plan can be denied or can a claim by someone under a group health plan be denied ? Setting up a group health plan is considered guaranteed issue , but typically certain requirements are necessary to do so . For guaranteed issue status , most companies would require at least 10 people to be active under the plan -LRB- some may go to 5 as a minimum -RRB- . Whether you 're viewed as a small business or large business is essential to understand as well as they require different things for underwriting and the programs available feature varying benefit structures . Group health insurance quotes can vary greatly on these and other factors such as type of plan -LRB- HSA , HMO , PPO , etc. -RRB- - there are no online instant quotes for this type of coverage . These types of quotes are based on the size of your business , the industrys SIC code , age of employees , and average employee health -LRB- although some states may not require medical underwriting -RRB- . There are no instant online quotes for group health insurance . To secure a quote , you will need to consult with a health insurance agent -LRB- with a background in group health insurance -RRB- . I would suggest consulting with an independent agent who can shop the case for you and compare options from multiple companies . In regards to the second part of my initial clarification question , if you 're asking whether a claim can be denied if you belong to a group health plan , the answer is yes . A claim can be denied just like an individual plan if the service completed was not deemed to be medically necessary -LRB- e.g. elective cosmetic surgery -RRB- . It 's important to review the benefits under your health plan . If you 'd like some help gathering the most accurate quotes and securing the coverage at the lowest cost , please send me an e-mail via the contact me button next to my name with your name and contact information to reach you at . We have an agent in our group who has a strong background in group health plans . I hope the information is helpful - thanks very much .


Input: What Does Medicare Plan A Cover?

Output: Medicare Supplement Plan A is required to be offered by all insurance companies who offer Medicare supplement plans . This plan covers 100 % of the basic benefits that can be offered by insurance companies under a Medicare supplement plan and is suitable for individuals on a budget who want to have a little more coverage than what Medicare Part A and Part B provides . Medicare Supplement Plan A Covered Benefits : 1 -RRB- Medicare Part A coinsurance plus coverage for 365 additional days after Medicare benefits are used up 2 -RRB- Medicare Part B coinsurance or copayment 3 -RRB- First 3 pints of blood 4 -RRB- Part A hospice care coinsurance or copayment Benefits not covered : 1 -RRB- Skilled Nursing Facility Care coinsurance 2 -RRB- Medicare Part A deductible 3 -RRB- Medicare Part B deductible 4 -RRB- Medicare Part B excess charges 5 -RRB- Foreign travel emergency -LRB- up to plan limits -RRB- Medicare supplement plans can be purchased through an insurance agent/broker .


Input: Can I Change Renters Insurance?

Output: You can change renter 's insurance . Simply contact a local broker and inform them you would like a quote on new coverage . They can compare affordable options and help you apply for a new policy . Once issues , you can cancel your existing coverage . You can also terminate your policy without buying new coverage .


Input: How Much Commission Does A Life Insurance Agent Make On A Policy?

Output: This is a great question . The answer is simple . Brokers/agent 's get paid a percentage of the premium you pay . That percentage varies depending on the type of life insurance and how that particular broker/agent is set up with an insurance company . For term insurance , a 20-30 year term can pay a broker/agent upwards to 120 % while a 10-15 will be lower . Permanent insurance such as Whole Life & Universal Life may pay the same as term or much lower , again depending on the company . Keep in mind that insurance companies do not start making a profit until about the 14th month or so . If you have more specific questions , do mot hesitate to ask .


Input: How Much Commission Does A Life Insurance Agent Make On A Policy?

Output: That is a great question ! Most insurance agents do not work on a salary , they are paid based upon what they sell . Each type of policy pays a different amount of commission , and different companiescan pay the same agent a different amount for the same policy . The commission is a percentage of whatever your policy would cost for a year . So if the policy costs you $ 1000 for a year , and the agent receives their commission at say , 80 % , then they would receive $ 800 for selling you that policy . There may , or may not be residual money paid to the agent after that , it again depends upon the company , and the policy sold . If you need more detail , please feel free to contact me , I 'd be happy to help . Thanks for asking !


Input: How Much Commission Does A Life Insurance Agent Make On A Policy?

Output: When a Term policy is sold , the insurance company pays out from 50 % to over 100 % of the first year premium for commissions . With Term insurance , if there are any commissions paid after the first year , they are very small . Permanent insurance pays out a residual commission each year that the policy is in effect . It should be noted that it is not just the agent who gets the commission paid by the carrier . If there is a general agency/brokerage involved -LRB- as there usually is -RRB- , they get a cut . If the agent works for an agency or office , they will probably get a cut . So what the agent earns depends on whether he/she is independent and/or works directly with the carrier , or whether he/she is part of a team that places the policy and shares the commission .


Input: What Is A Medicare CTM?

Output: Medicare CTM stands for Medicare Complaints Tracking Module . It was developed by the Centers for Medicare and Medicaid Services -LRB- CMS -RRB- as a repository for complaints made about Medicare Part C and Medicare Part D. CTM was developed to capture , track and resolve complaints against Part C and Part D Medicare .


Input: Does Health Insurance Cover Adderall?

Output: Adderall is an amphetamine salt based medication used for treating ADHD and narcolepsy . Adderall is a class II narcotic and can be addictive . There are also a number of side effects that can be quite unpleasant . The medication is classified as a tier 3 drug . Your carrier may require step therapy before approving the medication .


Input: Does Health Insurance Cover Adderall?

Output: Adderall is covered by most health insurance plans . As a health insurance broker with more than 33 years of experience , this type of question is very commonly asked . An `` Exchange '' policy will provide benefits for the drug and the expenses of treatment , although a deductible or copay may apply . However , short-term plans will often exclude pre-existing conditions , and therefore Adderall would not be covered on this type of plan .


Input: Does Health Insurance Cover Adderall?

Output: Adderall is a type of prescription and would therefore be covered under your health plan 's prescription drug coverage . Which tier level it may fall under can vary from plan-to-plan , meaning how much you pay for the prescription may be higher under some plans and lower under others . Tiers are generally broken down in to 4 or 5 categories - some combination of preferred generics , non-preferred generics , preferred brand-name drugs , non-preferred brand-name drugs , and specialty drugs -LRB- some plans classify preferred and non-preferred specialty drugs -RRB- . If you 're unsure , you can contact the carrier -LRB- or your agent -RRB- to find out if that specific prescription will be covered by your health plan and/or what portion of the expense they cover and what your portion of the expense would be -LRB- your copayment or coinsurance -RRB- .


Input: When Does Medicare Pay For Home Health Care?

Output: Medicare offers very limited skilled nursing benefits for care after discharge from a hospital . Medicare does not cover any custodial or intermediate care at home , or care in a long term care facility . To qualify for Medicare Benefits you must have been admitted to the hospital at least three days not counting date of discharge , and need skilled care related to the reason you were admitted to the hospital . Medicare will not cover more than 100 days in a facility and will only provide limited benefits at home .


Input: Can I Buy Insurance For A Car I Don't Own?

Output: You can not be listed as the named insured if you do not own the vehicle however , you can pay for the insurance . The car insurance policy has to be taken out by the owner of the vehicle but anyone can pay for the insurance . You can set up the policy with your bank account .


Input: What Company Has The Cheapest Home Insurance In Minnesota?

Output: That is a good question ! As you are likely aware , Home insurance rates in MN have seen steady increases over the past year and a half . This is due to the substantial amount of weather related claims we have had here in the last 5 years . I personally represent over a dozen companies and I really ca n't say that one is going to have a better rate than the other . In fact , most of these companies will no longer write a stand alone Home insurance policy . They are requiring that you also place your Auto insurance with them . This can be beneficial to you as there are additional discounts that would apply to both policies if they are packaged together with the same company . Your best bet is to contact an independent agent and have them put together some quotes for you . You can then compare coverage and price and make an informed decision .


Input: What Company Has The Cheapest Home Insurance In Minnesota?

Output: Do n't just stop with independent agents . They ca n't give you access to the wonderful captive companies out there ! I work for American National and we offer a program called cashback where we return 25 % of your premium after 3 years of claim-free record ... and it continues each and every year claim free ! If you want more info call me , Brad @ 651.300.0788


Input: Why Is Disability Insurance Needed?

Output: Disability Insurance protects your paycheck should you become sick or disabled . For most people , if you 're unable to work , a savings account can only last for so long . Disability Insurance will pay a percentage of your income for a pre-determined amount of time -LRB- many times up to age 67 -RRB- . According to the Social Security Administration , one in three Americans between ages 35 and 65 will become disabled for more than 90 days at some point in their career .


Input: Why Is Disability Insurance Needed?

Output: Disability Insurance is needed for most people to provide income for them and/or their families if they were to become disabled for over a few months . Some businesses use Disability Insurance to keep their businesses viable if one of their key employees should become disabled . Disability Insurance can replace over half the income lost by the employee becoming disabled , which is a tremendous need for most workers .


Input: Does High Cholesterol Affect Life Insurance?

Output: Yes , in most cases high cholesterol does effect the classification a person receives when applying for life insurance . However , companies do look at high cholesterol differently as they do not across the board class the same way for it . If working with an agent and you know you cholesterol score have them research which companies treat your score favorably . There can be quite a swing in classifications and cost depending on the company . I have moved several `` standard ratings '' because of cholesterol ratios to `` Preferred '' simply by their underwriting standards . Some underwrite cholesterol tightly , others not so much .


Input: Does High Cholesterol Affect Life Insurance?

Output: High cholesterol can affect life insurance in a few different ways . Is it high , but normal with medication ? Then you just need a carrier who will accept that , and there are a number of them . Is it high , even with medication ? Some people do run naturally run high ; then we have to prove that abnormal is normal for you . That can be done . Is it high , and related to other abnormalities , such as heart disease ? Under those circumstances we need to get details on the composite picture of your health . Even , unfortunately , with serious medical conditions , you could qualify for coverage , and the price could be higher than standard . You would have coverage , and that is the bottom line .


Input: Does High Cholesterol Affect Life Insurance?

Output: High cholesterol can affect life insurance rates . It will have even more impact if you have other health conditions that are exacerbated by high cholesterol -LRB- like coronary artery disease -RRB- , or if other health conditions are contributing to your high cholesterol -LRB- like anxiety , liver disease , diabetes , or uncontrolled sleep apnea -RRB- . For health and life insurance reasons , it is a good idea to take whatever steps that you need to take to get your cholesterol in an acceptable range .


Input: Does High Cholesterol Affect Life Insurance?

Output: High cholesterol isnt normal . Standard rates are based upon an assumption that you are normal . There is as great deal of information that can guide an underwriter on how to adjust the premium for the increased risk that your case represents . Some companies have a wider ranger for normal than others and some have done extensive studies on certain health conditions . These companies might be better suited to provide you with life insurance at a reasonable rate .


Input: Does High Cholesterol Affect Life Insurance?

Output: Yes , high cholesterol can affect life insurance . It can raise rates , or even cause a decline , if cholesterol is very high . Even more significant than high cholesterol is the ratio of total cholesterol to good cholesterol . To find your ratio , divide your total cholesterol number by your HDL -LRB- `` good '' cholesterol -RRB- number . If your ratio is over 8 , you might want to get on cholesterol lowering medication before applying for a policy .


Input: Why Are My Auto Insurance Quotes So High?

Output: If you live in California your automobile insurance rate is governed by a few variables . The rating factors are , the year , make and model of the car , ages of the drivers , the driving record of all the members of the household , the loss record on members of the household , the annual mileage , and the location of the household . Insurance companies compile statistics and must prove to the insurance commissioner the rate that they are charging . Ultimately , the reason that rates are so high is a reflection of claims . It is not a moral issue it is a financial issue .


Input: Which Life Insurance Is Better Whole Or Term?

Output: Both types of policies are good , but for different reasons . there are generally 2 types of insurance needs , permanent needs -LRB- last expense or burial benefit -RRB- , and temporary needs -LRB- mortgage cancellation insurance , college funding for you children , rent continuation for your family -RRB- . I generally find that most people have a need for both types , a solid foundation of permanent insurance that will take care of forever and term insurance that will take care of the needs that disappear as we get older . I would consult your life insurance agent and let him do a needs analysis for you . Some websites for these companies will allow you to complete this needs analysis online for yourself , and then elect to call an agent to your house or business .


Input: Which Life Insurance Is Better Whole Or Term?

Output: Better depends on your specific needs . Term insurance is finite . It has an expiration date . If the term expires before you do , and you still have a need for life insurance , that was not a good choice . Permanent life insurance is better for long term needs such as estate liquidity or charitable bequests .


Input: Which Life Insurance Is Better Whole Or Term?

Output: Which is better whole life or term ? Depends on what you want to use it for ? Just reading the names of the two products should help you figure out which does better for your need . Do you have a short term need where you need coverage for a while , but not past a certain time ? Term is a great solution . Do you need lifetime coverage ? For your whole life possibly ? Well whole life is a great solution for coverage for your whole life .


Input: Who Will Buy My Life Insurance?

Output: Most people buy their own life insurance . You can be the Owner , Insured , and Payer for your own policy . That way you have the ability to make any changes to the beneficiary , and you can also make sure your policy stays in effect by paying the premiums on time . However , if you wish , your partner or parents could by life insurance for you . If you have children or grandchildren who want to buy you a final expense policy , that can work , too .


Input: Who Will Buy My Life Insurance?

Output: If you are looking to sell a cash value policy friends and family is a great place to start . There are also companies that purchase life insurance polices called life settlement companies and viatical companies . A life settlement company is used mainly by seniors needing cash to live . A life settlement company will usually give you more than the cash value of the policy is worth but less than the face amount . They recover the difference by leaving the senior as theinsured and the company becomes the beneficiary . A viatical companyis used by seniors and the terminally ill . The main difference of the two is a viatical companyis alife settlement company with multiple investors that invest capital for the promise of big returns due to shortened death cycles .


Input: Which Annuity Is Right For Me?

Output: You have to establish product suitability before deciding on any product , much less an annuity , which should be purchased as an ultimate income product . Product suitability is based on your personal financial profile , risk tolerance and economic goals . Those three areas comprise the fundamental approach to selecting the right annuity . Annuities use differing crediting methods such as interest rates , indices -LRB- both domestic and foreign -RRB- and separate sub accounts that use equities and bond allocations .


Input: What Is A Group Universal Life Insurance Policy?

Output: Group universal life is similar to individual universal life . Group policies involve the plan sponsor , often an employer , holding the master policy while the individual participants receive a certificate of insurance . It is a convenient and voluntary way to acquire cash value life insurance through the workplace . Usually the employee pays all premiums in which case all benefits would be immediately and fully vested . At employment termination portability features in these products generally allow for coverage to be taken by the participant as an individual policy .


Input: Does My Health Insurance Cover MRI?

Output: Most health insurance plans will cover diagnostic testing including X-ray , CT and MRI exams . The exam must be medically necessary , ordered by your doctor . In some cases you must use a network facility in order for the MRI to be covered . Most MRI exams are subject to your major medical deductible .


Input: At What Age Should You Take Out Long Term Care Insurance?

Output: Traditionally , you should start considering long term care at age 50 , but purchase it no later than around age 60 . If your family has a history of critical illness during their old age , you may want to secure long term care earlier while youre healthy and the price tag is inexpensive . If your family has inordinate longevity , you may want to secure coverage to protect your later retirement period .


Input: How To Invest In Annuities?

Output: Product suitability is very important and one of the items of suitability is a establishing a risk tolerance assessment . Non-qualified deferred annuities have three basic crediting methods : fixed interest rate crediting in an annuity , indice crediting in index annuity and crediting or sometimes debiting in separate sub accounts in variable annuities . Was you determine which crediting method fits your risk tolerance , then you should decide how long your annuity position should be and does the policy have any benefits for maintaining it in force .


Input: If I Have A Medical Condition Can I Get Disability Insurance?

Output: Whether you can get Disability Insurance with a medical condition -LRB- or whether the policy will exclude that medical condition -RRB- depends on the type of health condition you have . Some health conditions are more prone to causing a person to eventually become disabled than others , and therefore more likely to be excluded or denied , while others will not have much effect on the policy .


Input: If I Have A Medical Condition Can I Get Disability Insurance?

Output: Yes , there is a chance you can receive individual disability insurance through the impaired risk market -LRB- Assurity , Mutual of Omaha , Lloyds of London , etc. -RRB- . If you have a pre-existing medical condition , such as diabetes , anxiety , sleep apnea or even some forms of cancer , you can still receive insurance , though it will have a shorter benefit period , and most likely an exclusion for your particular illness .


Input: Is Life Insurance Worth Getting?

Output: Yes , Yes , Yes . Life insurance can help provide for those left behind after your passing . The proceeds of the policy can help pay off debts that you had n't paid off yet , provide money for your children 's education , allow for your family members to have a period of morning without the burden of financial concerns . Please contact a local agent to discuss your coverage needs , concerns for those you would leave behind , and the pricing associated with the different policy types .


Input: Does Medicare Pay For Bunion Surgery?

Output: Generally Medicare only pays for basic foot care if a person is diabetic . If there is a medical necessity it may pay for other foot issues however . Usually bunions are something that is performed in a Podiatrist office . Your Podiatrist should know if the procedure he is recommending is covered by Medicare . Make sure you ask him .


Input: How To Create Your Own Retirement Plan?

Output: As with most plans , ideally first determine the end goal - what does a successful retirement look like to you . Understanding what your objectives are will help you when deciding what direction to take and how much is needed for funding . When designing a retirement plan , taxation is an important factor , you want to take full advantage of the `` miracle of compound interest '' by using tax sheltered growth . Also whether or not contributions are deductible is also a consideration . What about taxation of the income received at retirement . . You will find additional information on my website www.jpw.ca If you would like to work with a local Retirement Planner , you could start with a Google search . For example if you search for : retirement planner Halifax or retirement planning Halifax , my name along with several others will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Who Qualifies For Medicare Benefits?

Output: People who have paid Medicare taxes for at least 40 quarters qualify for free Medicare Part A. However , people who have not paid in can still purchase Medicare Part A , if they are legal residents of the US . Also , some others can get Medicare : people who have been disabled for 2 years or more , some persons with end stage renal disease , and some with ALS .


Input: Can I Switch Auto Insurance At Any Time?

Output: You can switch auto insurance at any time . With more than 33 years of experience as a car insurance broker , I see this happen every day . Usually , the broker or company can be contacted to terminate coverage . Keep in mind that it 's important not to let the prior policy lapse if you are changing companies . Also , it 's important that a new policy be approved by the underwriter , as well as the broker !


Input: Can I Switch Auto Insurance At Any Time?

Output: You can cancel insurance coverage at any time ; just notify your insurance company . If you are approved you can start insurance at any time . The combination of stopping one policy and starting another is normally seamless . The company that is currently insuring your car will return any unused premium . Some companies cancel policies pro-rata , others use short-rate cancellations .


Input: Can I Switch Auto Insurance At Any Time?

Output: Yes , of course , you can switch car insurance at any time during your policy period . Be sure to check to see if your company surcharges for mid term cancellations , because you do n't want surprises . And if you are going to replace your carrier , be sure that the new insurance is in place BEFORE you cancel your existing policy to avoid any costly gaps in coverage .


Input: Is Medicare Worth It?

Output: Without Medicare , health care costs for older or disabled persons would be very high priced . With Medicare to offset them , the costs are relatively reasonable . Even with the costs of Medicare going up , the premiums are very low compared to what you would pay for health insurance in the private sector .


Input: What Constitutes A Group For Health Insurance?

Output: There 's several different answers . Group health benefits are normally benefits for the employees of a company , the company employees being `` the group '' . Sometimes there may be a `` group `` catagory on your individual insurance card and in that case , it is simply a catagory for identification for the insurance company or vendor . For an example group number 2563 may be code for a specific state .


Input: What Constitutes A Group For Health Insurance?

Output: What constitutes a group for health insurance ? It may vary from state to state as to what defines a group . Usually what is n't considered a `` group '' are people joining together for the primary purose of obtaining insurance . Since states are involved in the process , I will cite mine . In my state a `` group '' can go down to 1 person . Yep , a group of one . That said , in order to get covered , the group must show that it is a group for tax purposes and the individual must dervive 75 % of their income from the business .


Input: Can Anyone Get A Life Insurance Policy On You?

Output: Not everyone can get a life insurance policy on you , but a lot of people can . The list includes : your spouse , parent , child , brother , sister , grandparent , business partner , employer , and favorite charity . It could also include your banker , and investors in your company . Of course , you as the insured must agree to being covered . Also : former spouses and business partners can keep the policies they have on you !


Input: Can Anyone Get A Life Insurance Policy On You?

Output: No , not anyone can take a life insurance policy on you . They must have a financial relationship to you , or be a very close relative . E.g. Someone to whom you owe a large amount of money could take out a life insurance policy on you , so that they would get paid if you passed away . However , you would have to agree to the policy , and sign the application , in order for them to take out the policy .


Input: Can Anyone Get A Life Insurance Policy On You?

Output: There has to be what is called Insurable Interest . This means there is a relationship with that person or company . In other words , if your an adult , over 18 years of age , your parents might want to have a policy with you as the insured . The Insurable Interest is established as a parent however like previously said , you have to sign the application being fully aware . A company you work for might want to get a policy on you , referred as a key person insurance . This protects the company from lost revenue due to your death . Being an employee in this instance is the Insurable Interest . Talk with a Broker/Agent about your specific situation to get a better understanding .


Input: Can You Double Up On Health Insurance?

Output: Doubling up on health insurance holds no benefit to the insured . The only way to add benefit to your existing health insurance program is to purchase supplement insurance plans that fill the gaps your plan does n't cover . Popular supplement plans include accident and critical illness cash plans with benefit amounts at or above the out-of-pocket maximum of your health plan . Also , dental & vision insurance is an often sought supplement where most health plans do n't provide benefits . Lastly , indemnity plans with 1st dollar benefits can be an asset to a high deductible health plan to cover the upfront costs associated with an illness .


Input: What Is Non-Participating Term Life Insurance?

Output: That is a great question ! Life insurance policies are designated `` participating '' , or `` non-participating '' . The terms refer to the payments of dividends from the insurance company to you , to be applied to your policy . In a non-participating policy , there is no dividend payment arrangement . In a participating policy , you may or may not receive a dividend payment , it is solely up to the discretion of the company as to whether it pays one or not , and if so , how large that payment is . I hope that helps , thank you for asking !


Input: What Is Non-Participating Term Life Insurance?

Output: Non-participating term life insurance is term life insurance that simply pays out the original death benefit if you die while the policy is in effect . It will not pay dividends while you are still alive , and the death benefit will not increase by virtue of the company sharing their profits with you . I do n't know of any term policies that are participating .


Input: Does PPI Cover Life Insurance?

Output: PPI covers repayment of loans such as car loans , mortgages , credit and store cards , and personal loans in the event that the borrower becomes unemployed or disabled . It does not pay life insurance premiums if unemployed or disabled . There is a disability rider that can be added onto a life insurance policy to pay the premium in the event of disability .


Input: Is Renters Insurance Worth Having?

Output: As with any insurance it is considered by many as worthless if they never need it , but that one time that you do need it ; it is worth every penny you ever spent for it . How much would it cost you to replace everything that you own if you experienced a fire other covered peril ? Would you have the money necessary to secure another place to live ? Would you be able to pay the medical bills for a vistor to your premise that is injured while on your premise ? This is just a small portion of the coverages provided by renters insurance .


Input: Is Renters Insurance Worth Having?

Output: `` Worth '' having something really is based upon one 's own point of view and circumstances . As an insurance professional who is responsible for providing advice and service to my clients , frankly I believe that dollar for dollar , Renters Insurancecan be invaluable and is certainly `` worth '' the cost . Look , you work hard to obtain the things you buy , so obviously , you have already made the decision that these things are `` worth '' having . If you came home one day and your apartment or the house you were renting was completey destroyed and all those personal items that you valued were gone , I suspect you would not be questionning the worth of your renters ' policy .


Input: Is Renters Insurance Worth Having?

Output: Insurance is away to transfer a risk from yourself to a pool of people with similar exposures . If the loss of your personal property would create a significant risk to your net worth , you might consider transfering that risk to a pool of other people . For some people the value of their property that is contained in a rented unit is insignificant and they would not suffer too much . For others , loss of their personal property would be a financial disaster . If value is measured in dollars and cents , you would have to endure a loss and claim to make a renters policy a value . You might enjoy a great deal of peace of mind if you know that a fire would not destroy your accumulated assets .


Input: What To Ask When Buying Disability Insurance?

Output: When buying Disability Insurance , ask if it will pay you a benefit if you are unable to perform your own job , or any job . The feature is called `` own occupation '' . Purchase the policy that will allow you to collect if unable to perform your own occupation , if you can afford to do so . Ask if it will pay for `` partial '' or `` residual '' disability . Residual benefits are more comprehensive than partial . Ask if it is guaranteed renewable or non-cancellable . Only non-cancellable locks in premiums . Ask how long the coverage will last . You want it to last to age 65 , if you can afford it . Ask how long the elimination period is . You will need to have that much in reserves to get you through that waiting period until your benefit kicks in . Ask about the rating of the company . You want a secure company to make sure your benefit is paid if needed . Ask if it includes a cost of living rider and/or a rider that will allow you to get an increase in coverage in the future . Both will help your policy keep up with your career and inflation . Ask if there are any exclusions . There are other questions you could ask , but those cover some important things to look at when buying Disability Insurance .


Input: Can You Opt Out Of Health Insurance?

Output: If you are lucky enough to work for an employer who pays 100 % of the employee rate for the group health insurance they offer -LRB- pretty rare these days -RRB- then standard group contracts require all eligible employees to be enrolled . So , in that circumstance you might get health insurance coverage whether you want it or not . If you have to contribute towards the cost of the health insurance provided by your employer then you have the right to waive participating in your employer 's group health plan . I will presume , though , that your question is really about the `` Individual Mandate '' provision of the Affordable Care Act -LRB- ObamaCare -RRB- and its requirement starting on January 1 , 2014 that a person have health insurance coverage that meets the minimum essential benefit requirements under the law or be subject to the `` Shared Responsibility Payment '' -LRB- does n't that sound better than tax penalty ? -RRB- on your income taxes . ObamaCare does give you the choice of either getting health insurance coverage or going without coverage and potentially being subject to a tax penalty . In that sense you can opt out of having health insurance coverage . But wait there 's more ! The Affordable Care Act provides for persons in certain situations or who are members of certain groups to be exempt from the individual mandate requirement . Some examples are ; 1 -RRB- If the cost of coverage for you is more than 8 % of your annual household income 2 -RRB- If your annual income is below the threshold where you have to file personal income taxes 3 -RRB- If you qualify for a `` hardship '' exemption -LRB- this can be an escape route for many people -RRB- 4 -RRB- If you have had a gap in being covered of less than 3 months during the tax year 5 -RRB- Members of religious groups that object to coverage on religious grounds 6 -RRB- Members of non-profit religious organizations where members share costs 7 -RRB- Prison inmates 8 -RRB- Non U.S. citizens 9 -RRB- Native American tribe members 10 -RRB- Year long residents of U.S. territories such as Puerto Rico and Guam What could be more simple ? I hope this helps answer your question .


Input: Can I Buy 1 Month Of Auto Insurance?

Output: There are carriers that sell just one month policies It depends on the state that you live in . I know that Hallmark insurance based out of texas has this type of policy . otherwise you are stuck with a 6 month policy paying month to month . There are advantages to one month policies however they literally are 30 day policies and after 30 day there is no coverage . As to buying a 6 month policy you can still pay monthly and have a grace period on your billing before it cancels your insurance card will say 6 month on it and you do n't have to get a new insurance card every month . I do not know if any other carrier offers this . I would check with hallmark if that is the type of policy you are looking for you can find them at hallmarkinsco.com hope that helps


Input: Why Buy Life Insurance At A Young Age?

Output: Young and healthy people pay less for insurance coverage . If you have a spouse or children , you want to make sure they are financially taken care of if something happened to you . If you do n't have a spouse or children , you can use life insurance as a safer way to invest money and watch it grow over a longer period of time . The longer you wait , the more time you have lost and the more money you pay .


Input: Why Buy Life Insurance At A Young Age?

Output: When youre young you generally in good health and the cost of insurance is very cheap . That being said , youll still need to justify the amount of coverage and the insurable interest between the insured and the beneficiaries of the life insurance policy . A nonsmoking male or female , age 25 and in the best health category will pay around $ 85 a year for ten year term life insurance .


Input: Why Buy Life Insurance At A Young Age?

Output: Why buy life insurance at a young age ? Psst . . cause you wo n't always be young . Locking in your cost at a early age that does n't increase as time goes by is a pretty good deal . Buying young allows you to use time to your advantage in both the cost and growth of your life policy .


Input: Who Buys Disability Insurance?

Output: A person should consider buying disability insurance if he/she would suffer a financial hardship if an illness or accident were to interrupt or stop his/her earned income . This broad answer to the question would seem to include almost everyone who works and earns an income , certainly with some exceptions . Some people are provided this coverage from their employer , others who are self-employed -LRB- for example -RRB- would not be covered by a work-place plan . There are several ways to obtain coverage , which a trained professional insurance advisor would help sort through .


Input: Who Buys Disability Insurance?

Output: Along with private individuals , as mentioned above , business owners purchase DI as well . The benefit covers utilities , employee salaries , rent , etc. . Also , if a company relies on a specific employee , or if they 'd lose a substantial amount of income if one employee could no longer work , Key Person or Key Man Disability Insurance can be purchased . The benefit would be paid to the company to offset the cost of hiring another employee , or to help with revenue while the employee recovers .


Input: What Is Attained Age In Life Insurance?

Output: We have wonderful jargon in our profession ! Attained age is used in the context of a life insurance policy that has already been issued and simply refers to the age the insured is now as opposed to the age of the insured when the policy was issued . Life insurance rates are , among other things , age-based . Thus , terms were developed over time to describe age in a life insurance contract in a variety of contexts .


Input: Does Riding A Motorcycle Affect Life Insurance?

Output: The domestic riding of a motor cycle in itself should not affect your ability to secure life insurance coverage as any other potential insured . However , motor cycle racing is a hazardous recreation and vocation subject underwriting flat extras . Also multiple motor cycle moving violations or DUIs , a subject rarely addressed in questions life this , could actually cost the potential insured more money than a convention car owner with the same motor vehicle report .


Input: Does Riding A Motorcycle Affect Life Insurance?

Output: Riding a motorcycle could affect your life insurance . When underwriting a policy and determining your rate , the type of lifestyle you live andhazardoussports and hobbies could impact pricing . However , once the policy is approved and issued , and you haveacceptedthe terms , driving amotorcycle should not in any way impact the policy you purchased .


Input: Does Riding A Motorcycle Affect Life Insurance?

Output: Riding a motorcycle does not affect your life insurance rates . Only a bad driving record -LRB- or riding record in the case of motorcycles . -RRB- if you race motorcycles it can affect your rates or even acceptance with many companies . Thank you for asking about riding a motorcycle and not driving a motorcycle . It makes me cringe when people say `` I DRIVE a motorcycle . ''


Input: Does My Homeowners Insurance Cover Renters?

Output: A homeowners policy under normal circumstances will not cover a tenants personal provide or provide any loss of use for that tenant . It is highly recommended to have all tenants secure renters insurance upon renting a premise . This not only protects the tenant but can also help provide some protection for the landlord . Please read your policy completely to understand the coverage provided and what exclusions there may be .


Input: Does My Homeowners Insurance Cover Renters?

Output: If you are renting a room in the house that you occupy , a homeowner 's policy would not provide coverage for the personal property of the renter . It would not provide liability coverage for the renter either . If a loss occurs caused by a covered peril the structure would be repaired and your property would be indemnified -LRB- big important word -RRB- but the property of your renter would not .


Input: What Does Full Life Insurance Mean?

Output: Full life insurance sounds like another name for Whole Life Insurance . It is life insurance that last for a full lifetime , or for a whole lifetime . It could also be a reference to a policy that has been paid up in full , but that is not a normal title for a paid up policy .


Input: Will Homeowners Insurance Cover Spoiled Food?

Output: It may . If the food spoilage was caused by a covered loss to your home - such as a power failure . Your food loss may be covered up to the dollar amount specified within the policy possibly less your deductible . Please remember every policy is different . Read your policy completely to understand what coverage it provides and what exclusions it may contain .


Input: How Does Index Universal Life Insurance Work?

Output: Index Universal Life Insurance allows you to allocate cash value in the policy to either a fixed account , an equity index account , or both . You are guaranteed not to lose your principal , even if the market drops . But your earnings are capped at lower than what you might earn if you were willing to risk the principal in a variable product . IUL is popular for those who want life insurance , want to take some advantage of the market , and do not want the risk of losing their investment .


Input: I Fractured My Wriest On The Last Day Under One Health Insurance, Started New Insurance The Next Day. Which Insurance Will Coverage Remaining Treatment?

Output: Assuming this is n't a Workers Compensation claim but an individual or group medical insurance claim then the torch has been passed to your new insurance plan on the date your coverage went into effect with them . If it is an ObamaCare compliant plan then it must cover any pre-existing condition immediately with no exclusions or waiting periods . If you are on a group major medical plan you will want to get a deductible credit form from your new insurance carrier and a deductible report from your previous insurance carrier and submit this to your new insurance carrier so that any amounts you have met towards your deductible in 2014 under your previous carrier will be credited against your deductible under your new plan for the remainder of 2014 -LRB- most health insurance plans track your deductible on a calendar basis regardless of what your company 's contract year basis is or your start date is -RRB- . Otherwise you will find yourself starting over with a brand new deductible exposure and if any or all of the treatment you are scheduled to receive is subject to your plan 's deductible you may find yourself on the hook for a lot of extra expense . The big issue when you are moving from one insurance carrier to another in the midst of treatment like you are describing is making sure that your health care providers are in-network providers with your new insurance plan and also making sure that there are n't any pre-certification or referral requirements that you have to comply with under your new plan . This is an area I 've seen a lot of people get caught up in the insurance bureaucracy and ending up incurring higher out-of-pocket expenses than might have otherwise been the case . So , while I know you probably do n't feel like dealing with these issues at this time , you would be wise to investigate them before proceeding with any further treatment .


Input: What Does Medicare Cover On Dental?

Output: That is a great question ! Unfortunately , the answer is not much . In fact , to be brutally honest , not much of anything . Some emergency procedures may be covered , but generally there will be a need for a separate dental plan if you want to have any kind of dental work done . My suggestion is to go to the Affordable Care Act -LRB- Obamacare -RRB- website , WEBSITELINK and look for a dental plan there . The policies found there can be purchased very cheaply , and it is very likely that you will qualify for help paying for it , if you purchase it through that exchange . Good luck , and thanks for asking !


Input: What Does Medicare Cover On Dental?

Output: Routine checkups and other common dental services would not be covered by Medicare . Medicare may cover some procedures under certain conditions -LRB- e.g. you had to go to the emergency room and it was medically necessary to repair something in your mouth immediately -RRB- - you can check with Medicare if you 're not sure if a given procedure would be covered . You would need to add a separate dental insurance plan to provide coverage for routine services . 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 Private Disability Insurance Cover Pregnancy?

Output: Private Disability Insurance covers time off for complications of pregnancy , but not time off for the pregnancy or childbirth itself . This is true for both private Short Term Disability coverage and private Long Term Disability coverage . Only Group Short Term Disability -LRB- `` sick leave '' -RRB- covers normal pregnancy without time off due to complications .


Input: Is Borrowing Against Life Insurance A Good Idea?

Output: If the cash value is large enough and the policy can be sustained after taking the planned policy loan , it may be a better alternative to taking conventional loans from a bank . The idea is that you are borrowing some of the cash value of a policy you own . Some policies are better than others - check the cost of taking a policy loan . For example , some policies might charge you 5 % in loan interest but only credit the loaned portion of policy cash value with 3 % . The rate of loan interest may vary over time as well . Thus , the net cost of borrowing may be a few percentage points . Over time , this might add sufficient drag to your policy to make it difficult to sustain . You can pay loan interest as you go but most people choose to add the interest to the policy loan . You can repay the loan or have the loan deducted from the death benefit when you die . As long as the policy does not lapse , the policy loans are income tax free . If the policy lapses , the borrowed amounts taken in the past to the extent of gain in the contract will be subject to income tax in the year of lapse . Your life insurance professional can help you manage your policy to take advantage of the valuable policy feature without unintended consequences .


Input: Is Borrowing Against Life Insurance A Good Idea?

Output: Is borrowing against a policy a good idea ? Yes , it can be , it can depend though . Keeping the policy in force is important as it creates some tax advantages on the funds borrowed as you are essentially taking a part of your death benefit early for use elsewhere . Where borrowing against your life insurance is a good idea is in what steps you have to take to do compared to other avenues . Have you ever sat in a bank office cubicle while someone else decides if your need is worthy enough ? How they have to decide if your need fits ? A great thing about borrowing against your value is you simply make a call and the money is wired to your bank account . You are not asked to explain your need , your need is not subjected to review by somebody else . Simply put , what you want to do with those funds is not subject to the approval of somebody else .


Input: Is Borrowing Against Life Insurance A Good Idea?

Output: Borrowing against life insurance policies can be a good idea and many policies are designed to provide cash to use for college funding , retirement income , or emergencies . Some policies , especially Indexed Universal Life Insurance , have a loan option where the borrowed money comes from the insurance company 's general account . This allows your money to stay in your account earning uninterrupted compound interest . This is a great way to build wealth by using `` other people 's money '' . As noted above , your policy must not lapse to maintain the tax advantages of this strategy .


Input: When To Buy Medicare Supplemental Insurance?

Output: When you first sign up for Medicare , usually at age 65 , you should buy Medicare supplement coverage when you go on Part B . If you buy a supplement plan within 6 months of your Part B eligibility you do not have to provide evidence of insurability . After that period you must answer health questions .


Input: When To Buy Medicare Supplemental Insurance?

Output: If you are already on Medicare part A and B and havent a supplemental plan you should start shopping for a plan . There is an open enrollment period and that will allow you access if you have existing health concerns . If you qualify you can start a plan outside the open enrollment period .


Input: How Do You Cancel Auto Insurance?

Output: Car insurance can be cancelled in a variety of ways . Perhaps the easiest way is to contact your broker , who will explain what information is needed and how to expedite the termination . You can also contact your insurer directly -LRB- customer service -RRB- and request a cancellation . They will process the request by phone or inform you the quickest way to cancel .


Input: How Do You Cancel Auto Insurance?

Output: Great Question ! Assuming that you want to cancel it because you have found a cheaper policy , as soon as you 've started coverage on the new policy , call your agent for the old one , and tell them that you want to cancel . There may be a form that you need to fill out for them , or they may need something in writing , depending upon the company.It should not be a problem for you to drop that policy . Thank you for asking !


Input: How To Find Life Insurance Policy For Deceased?

Output: In addition to what David and Peggy stated , you can also pay to run a search with the Medical Information Bureau . The last time I referred someone to it , I believe it cost around $ 75.00 to do . Before paying for this service though I would exhaust the ideas from David and Peggy .


Input: How To Find Life Insurance Policy For Deceased?

Output: In addition to the great list of suggestions David gave , I would add to ask relatives . You might also look through old checkbook registers to see if any checks were made out to life insurance companies . If you are unable to locate any policies , states may list those death benefits as unclaimed property in a couple of years .


Input: How To Find Life Insurance Policy For Deceased?

Output: This can be a really tough task , as I know you 're probably finding out . The first places to start are with their insurance agent and their financial advisor . That 's where most people purchase their life insurance and , if they 're good , they 'll have a list of their policies , even if they 're with another company . Be sure to ask them where they were insured before them , they may have purchased life insurance from a previous agent or advisor . Follow this trail back as far as you can . Also check with their former employer , they may have life insurance there . The other place to inquire is with the state insurance department . Some states will have information such as this . Check anyplace they may have stored documents : a safe , a file drawer , a safe deposit box , a storage unit , and , yes , the basement . Lastly , you can Google lost life insurance policies . There is so much information on the web , you may find something . Good luck , and keep looking .


Input: Can you switch auto insurance at any time?

Output: This is a common question most people have and the answer is yes , you can switch your insurance at any time . There is no mandate which states that you can not switch your insurance but the question is should you switch your insurance ? There are several things you want to consider before switching your auto insurance . The most common reason people switch their insurance is because of price . You will find that most states file insurance rates in January and June . So keep in mind depending on when you decide to switch your policy you could be hitting a price increase or decrease depending on what the state has filed . Switching your insurance once or even several times could actually hurt you . Companies are beginning to offer discounts such as loyalty discounts which dont kick in until you have been with them for so many years . Even though you may be saving $ 50 - $ 100 switching to another carrier you could be losing a lot more than that by not staying with your current insurance company . You may find loyalty discounts to range from 5 % -20 % depending on the company which could save you hundreds of dollars . But every situation is different so be sure to consider when your switching your insurance and what discounts you may or may not be losing .


Input: Can you switch auto insurance at any time?

Output: You can switch your auto policy at any time . The most popular motivation to switch insurance carriers is price . People are looking for the best price for there insurance all the time . Other reasons to switch would be a new car purchase or moving to a new state . Switching carriers is easy and there are many to choose from . Shopping your auto insurance around is a great idea to compare prices . Using and agent can help you find insurance carriers that you normally would not have access to but going direct to and insurer online is also beneficial cutting out a middle man and getting quotes instantly . Be sure to check the term dates , is it six months or a year policy ? This can effect the way you compare the premiums . You will want to match your old coverage with your new quotes . Make sure the coverages are the same or similar this can prevent a coverage gap where you thought you had coverage . If you new vehicle is n't so new any more you may want to lower the amount of coverage on a particular vehicle . This can help lower your premium on the new policy or you can amend you current one . So while you can switch you insurer at any time do your research and make sure that it works in your favor .


Input: Who Is Eligible For Medicare Safety Net?

Output: Medicare Safety Nets provide additional relief to Medicare recipients in Australia who incur higher than usual medical costs . Under the Original Safety Net , a rebate is provided when a threshold is reached for out-of-pocket medical services . Under the Extended Safety Net , Concession cardholders and families eligible for Family Tax Benefit -LRB- Part A -RRB- can receive 80 % of out-of-pocket costs or the EMSN benefit for out-of-hospital services -LRB- whichever is lower -RRB- when a threshold is met . To obtain the thresholds and see if you are eligible , call Medicare General Enquiries 132 022 any time of the day or night , 24 hours per day .


Input: Who Gets The 401K Loan Interest?

Output: When you take a loan from your 401 -LRB- k -RRB- , as you know , you start to incur interest on the loan amount . The beautiful thing here is when you pay your loan back , you are paying yourself back the interest . So in the long run , it is to your benefit to make sure you pay that loan off plus interest . Remember , if the account is closed , and you get a check for the remaining balance , you will end up having a tax consequence to deal with this year .


Input: Does Irrevocable Life Insurance Trust Work?

Output: Of course an irrevocable life insurance trust `` works '' for some things but not for other things . It depends what you are setting the trust up to do . One use is to pass money to beneficiaries and protect the funds from Medicaid or other creditors . If the trust is set up 5-years or more in advance , the money is protected by the trust and will pay to the beneficiaries upon your death .


Input: What Health Insurance Companies Do A Drug Test?

Output: Assuming the question is addressing an underwriting procedure , most major medical plans do not request blood , urine or body fluid specimens for testing . An exception would be for individuals who have a `` flag '' in their file for previous underwriting discrepancies such as illicit drug , alcohol or tobacco use . Another example is someone who had a history of high cholesterol counts and could not produce recent numbers .


Input: How Long Does It Take To Buy Auto Insurance?

Output: It does not take long to buy auto insurance . Within minutes , you can review the best rates , apply , get approved and drive your vehicle . As experienced brokers with top-rated websites , we try to shop for the best prices for consumers so you pay less , and receive the most benefits available .


Input: How Long Does It Take To Buy Auto Insurance?

Output: It does n't really take that long at all these days . Whether you are working with your Insurance Professional or an on line source , certain questions will need to be answered and information provided . This would include your full name and address , date of birth , drivers ' license number and in many cases your social security number as well . The particulars about the car including the year , make model and vehicle identification number will be needed as well . Next , the coverage is chosen and the price determined . The proposal can be taken to application in a matter of minutes , the premium paid and the coverage bound . All in all , provided all of the required information is provided , this can beaccomplished in well under a half an hour allowing time for questions .


Input: How Much Should Disability Insurance Cost?

Output: Disability insurance is paycheck protection against your inability to work because of sickness and injury . The cost for disability coverage can be between 3 and 5 % of your annual compensation depending upon your gender , age , smoking status , health history and current medical condition . It also factors in your vocation , duration of coverage and elimination period , which all factor into the premium .


Input: How Much Should Disability Insurance Cost?

Output: If you are buying supplemental disability insurance to provide more disability coverage than you get at your place of employment , the cost can be as low as 1 % of your salary . If you are buying an individual , stand alone policy with many bells and whistles , the cost can be 5 + % of your salary .


Input: How Much Should Disability Insurance Cost?

Output: A rule of thumb for hos much Disability Insurance should cost is 1-3 % of your annual income . However , if you are young and in excellent health , it will cost much less than if you are older . At the same time , being older increases your chances of becoming disabled . So it could be worth far more than 3 % of your annual income to get sufficient DI coverage at an older age .


Input: Can You Have More Than One Roth IRA?

Output: Sure you can . The Roth is just another way the government and Wall Street can get control of some of your wealth . The Roth has limits where other financial instruments do not , like cash value whole life insurance . You can only contribute $ 5,500 a year to a Roth if you make less than $ 181,000 a year if you 're married and less than $ 114,000 if you are single . The government and Wall Street are in the business of confiscating your wealth from you and diverting it towards their coffers . The more you defer , postpone and separate yourself from your income , the more fees and commissions Wall Street gets to collect .


Input: What Is The Best Car Insurance For Young Adults?

Output: Car insurance rates for young adults do not have to be expensive . I have written several national articles on this topic . By utilizing available discounts and properly shopping , you can reduce your rate by as much as 30 % -60 % . Naturally , rates will be different based on where you live and the type of car you drive . Shop the right way and use the free services of a broker and you will pay much less !


Input: What Is The Best Car Insurance For Young Adults?

Output: The best car insurance for young adults is the one that pays for damages and injury that occur in an auto accident . That is really the only valid criteria . The key is that the policy has appropriate limits so you dont get left with a claim that you can not pay because your insurance was inadequate . This is particularly important in the area of bodily injury and property damage .


Input: When Was Car Insurance Created?

Output: The best answer that I was able to locate is fromaskdeb.com . Here it is : Car insurance polices actually evolved from maritime insurance hundreds of years earlier . The policies were to cover any losses and damages that might occur to property that was transported by ship . When the automobile was invented , these marine policies acted as a blueprint for car insurance . The first car insurance policy offered only liability coverage to protect any property that might be damaged by a motor vehicle . This first policy was written by an English insurance company back in 1895 . In the U.S. , the first liability car insurance policy was not written until 1898 and the first policy holder was a Dr. Truman J. Martin . It wasnt until 1927 that Massachusetts became the first state in the U.S. to pass the first mandatory insurance law .


Input: Will Medicare Pay For A Home Health Aide?

Output: Home health care is a covered expense under Medicare Part B . You must be under a doctor 's care and have a need for medical services provided by a licensed medical practitioner . Your doctor must certify that you need in home care and the home health care agency must be approved by Medicare .


Input: What Happens To Life Insurance If There Is No Beneficiary?

Output: Please do not let this happen ! You want life insurance to provide benefits to those you love . And it avoids the time and expense of probate . But if you do not have a beneficiary , or they all die before you , the funds go into your estate , and thus into probate court , taking a large percentage for the state and legal fees , along with time , as much as years or at least months . Just name several sets of contingent beneficiaries to prevent this . I always make sure my clients take this step to protect their assets . It is what a good agent will always do . Gary Lane , 949 797 2424 . New York Life Agent .


Input: What Happens To Life Insurance If There Is No Beneficiary?

Output: If there is no beneficiary , the proceeds of the life insurance policy will go into the estate of the policy owner , and be counted as an asset . The money will go through probate , along with all the applicable taxes and fees . By contrast , if the money is left to a person or group , the life insurance benefit will bypass probate .


Input: When Do I Have To Start Buying Health Insurance?

Output: According to the Affordable Care Act , you must have health insurance by Jan 1st , 2014 . The plans that you can choose from will be available to look at and purchase starting October 1st , 2013 . I suggest that you work with a licensed insurance agent so you 'll have the most choice and will get the best plan at the most affordable price .


Input: Is Medicare For Older People?

Output: Medicare was originally established for older people , but then later added disabled people as eligible for Medicare coverage , as well . People who can get Medicare now are those who are age 65 , those who have been on Social Security Disability for two years , and some people with ALS or ESRD .


Input: What Does Public Health Insurance Option Mean?

Output: The so-called public health insurance option was an idea floated around when Obamacare laws were being crafted . The idea was the federal government would provide a plan , similar to Medicare , for individuals to consider in addition to private health insurance plans . The public option never got off the ground as it was deemed too expensive .


Input: Does State Farm Offer Short Term Disability Insurance?

Output: State Farm does not offer private Short Term Disability Insurance . At this time , the only carriers that I am aware of that offer that type of coverage are Mutual of Omaha and Assurity . State Farm does offer long term Disability Income Insurance , Mortgage Disability Income Insurance , Individual Credit Disability Insurance , and Group Disability Insurance .


Input: Does State Farm Offer Short Term Disability Insurance?

Output: This depends on what you consider short term ! Most short term disability polices we use are designed to pay someone between 3-12 months of benefits if they were to become disabled . After that a long term policy is used . The last time I checked State Farm 's shortest benefit period is 12 months in duration . So if you are looking for something that will pay you for less than 12 months , say 3 months , you would need to use another company . Feel free to contact me with any questions !


Input: What Is A Good Homeowners Insurance?

Output: A good homeowners insurance policy is one that pays a claim in a timely manner . That means that it is a policy with appropriate limits -LRB- enough to cover the loss . -RRB- That means that it is a policy that is in force at the time of loss . That means that the company standing behind the policy has a good reputation , particularly in adjusting claims . Generally , it means that it is a policy written for you by a competent agent who is established and respected in your community .


Input: Is Car Insurance Money Taxable?

Output: That is a great question ! Generally speaking , if you are in an accident , or your car is stolen and the insurance company sends you a check for the costs , that money is n't taxable . Since you are making payments for the insurance coverage , the settlement is seen as reimbursement for your expenses . That said , if you are listing the car insurance as a business expense , then there may be a tax liability . I hope that helps . Thanks for asking !


Input: Is Car Insurance Money Taxable?

Output: I am not an accountant . Casualty losses are a deductible expense on your form 1040 . Insurance company payments are recovery for casualty losses . If you have received a large insurance settlement , I suggest you contact your CPA . If you have had some car repairs done and the insurance company has paid all of some of the expenses , I doubt that will represent any taxable event .


Input: Which Homeowners Insurance Is Cheapest?

Output: The cheapest homeowners policy is one that gives the maximum reimbursement when you have a claim . Regardless of the monthly cost , having inadequate homeowners coverage can be devastating when there is a claim . That is the reason you have the policy . Since lenders and insurers generally fix the amount of coverage as the amount required to replace the building , there is not a lot that can be done to affect that part of the premium . However , there is also a liability section that receives scant attention . The cheapest thing to do is to select the highest limit you can possibly afford . A lawsuit could force you into bankruptcy . Be protected .


Input: Does Smoking Affect Life Insurance Rates?

Output: Yes , smoking or tobacco use is probably one of the main increases in life insurance premiums . Most life insurance companies will increase premiums over 200 % to 300 % over a non-tobacco applicant with exact health status . Tobacco is viewed as a much higher risk , as we know it will shorten a human 's life by several years . Be aware that using nicotine patches or gum is rated the same as tobacco use . There are a few carriers that will consider non-tobacco rates for an occasional cigar or pipe smoker . Consult an experienced life insurance broker for help with those carriers . Most carriers are now rating tobacco rates for marijuana and vapor cigs as well . Again consult with a professional broker to find the best carrier for your unique situation .


Input: Does Smoking Affect Life Insurance Rates?

Output: Yes , smoking affects life insurance rates but how much depends on other health and lifestyle factors . In general , the premium for term life insurance for people in their thirties and forties is three times more for tobacco users than for non tobacco users . The factor widens on older individuals . The kind of smoking or tobacco use affects rates , too . In recent years , a few innovative insurance companies have been offering non tobacco rates to cigar smokers and users of smokeless tobacco making their tobacco class rates effectively cigarette user rates . Celebratory cigar use e.g. once or twice a year at weddings , may even qualify at such innovative insurance companies for preferred non tobacco premium rates .


Input: Does A Company Have To Offer A Retirement Plan?

Output: A company does n't have to offer a retirement plan . But employee recruitment and retention depends on the additional benefits offered . Many employers today try to offer defined contribution qualified plans like 401 -LRB- k -RRB- s as an inducement to hire on and stay with the company , especially when the employer matches contributions .


Input: Does A Company Have To Offer A Retirement Plan?

Output: In Canada , under current legislation , companies are not required to offer a retirement plan . The more enlightened employers do though . Companies should consider providing Retirement Plans not just because it is socially responsible , it is good business . Employees are usually a company 's greatest asset and replacing them cost money . Investing in a retirement plan can keep employees . If you would like to work with a local Retirement Planner , you could start with a Google search . For example , if you search for : retirement planner Halifax or retirement planning Halifax , my name , along with several others , will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Why Do Mortgage Companies Require Homeowners Insurance?

Output: Mortgage companies require homeowners insurance because they have an interest in the home . When you get a mortgage you are getting a secured loan , the security is in the form of collateral , which happens to be the house . If the house is destroyed so is the collateral that the loan is based upon . A mortgagee will require that it be the loss payee on the home in the event it is destroyed . If the home is destroyed , the insurance company will pay out to the mortgagee , but you will be entitled to any payment that is above the outstanding loan . I hope this helps .


Input: How Much Is Health Insurance Yearly?

Output: This is a good question . Premium cost will depend on insurance company , age , height , weight , etc , etc. deductible , out of pocket maximums . At any rate , let 's say you find a plan and it is 150.00 per month , you would be looking at about $ 1,800 per year . Hope this helps .


Input: How Much Does Life Insurance Underwriters Make?

Output: Life insurance underwriters are generally paid on the basis of the amount of insurance they are permitted to underwrite , i.e. a $ 500,000 authority may define a `` junior '' underwriter who can make $ 50,000 to $ 75,000 . A senior underwriter with seasoned experience is going to make a six figure income . Senior underwriters who also are MDs can make considerably more ,


Input: Is Whole Life Insurance Worth Buying?

Output: Is Whole life insurance worth buying ? Well the answer is going to vary by the individual as people see worth differently . To me a decades old owner of whole life , all I can do is tell you why I purchased whole life . I liked the idea of owning the policy with a set price that can not be changed . I liked the terms of ownership did n't or could n't be changed over time . I like the steady boring returns to cash values that these policies produced . While my real estate , stock market and other investments have gone up and down , in many cases very dramatically , my boring whole life has done what it said it would . My whole life has NEVER gone backwards in value , it grows in good markets and bad ones . Is whole life the only thing you should purchase , well no . A good portfolio is a diverse portfolio . Whole life should be a part of it , but not all of it . Owning a whole life allows you to take risks elsewhere as you have a safety net .


Input: Is Whole Life Insurance Worth Buying?

Output: Please see my answer earlier today regarding types of life insurance . Whole Life is a well known and recommend policy . It is some firm 's flagship product , but it is the most expensive . I personally recommend Equity Indexed Universal Life . It is tied to the market , but only in going up , with a cap , but it does NOT go down if the market goes down , as it will . Talk with your agent . Premier Financial Alliance offers this product with full living benefits you do not have to die for to get paid on . GARY LANE . garylane@cox.net . 714 422 9616 . Thank you .


Input: Is Whole Life Insurance Worth Buying?

Output: A whole life insurance policy is the only policy that you can purchase that guarantees that the death benefit will remain level throughout your life and the only requirement on your part is payment of the premium which is also guaranteed to remain level for your entire life . In most cases the sum of premiums is significantly less than the death benefit making a whole life policy one of the most efficient ways to purchase life insurance .


Input: Can My Home Insurance Drop Me?

Output: An insurance carrier typicallyhas the right to cancel or non-renew a homeonwers insurance policy for a client , if that client is not following the parameters of the policy . Also if the policy holder has fraudulantly provided incorrect information when applying for the policy . Every carrier sets its own standards for its clients and if a clients falls outside those standards then they may chose to cancel or non-renew your policy normally with at least fifteen days notice .


Input: How To Run A Life Insurance Business?

Output: Running a life insurance business takes dedication you will need a plan for funding your business if you do n't have the funding you will need to do a lot of research you can pay someone or you can do it yourself , you will need to study to keep up with the trends learn your target market do your marketing or pay someone to do that it is best to be able to focus on the client and let youroffice help do the rest.Wehope you success if I can help let me know .


Input: How To Run A Life Insurance Business?

Output: When you 're looking at running a successful life insurance business there are a couple of things that come into play . Where are you going to get your leads from , what companies and contract levels are you going to offer , how are you going to recruit agents , are you going to have a physical office or is it going to be web based . We are helping individuals like yourself understand what is needs with an agency builder blueprint course . we openly share all of our systems , pattern , questionaries ' , where to get leads , how to recruit agents and most importantly the back end math to help you become profitable . Please let me know if you would like more information on what we have to offer .


Input: How Much Does Disability Insurance Cost For Individuals?

Output: The average cost of disability insurance is between 1 % and 3 % of one 's annual income . 1 % can buy a policy to supplement a group disability policy , or to possibly get a very basic standalone policy . 3 % should get a person of good health a policy with all the bells and whistles .


Input: Does Car Insurance Ever Go Down?

Output: Sure it can . There are many factors that determine the final price of a car insurance policy . Certainly your driving record and history are important factors and , with many companies , so is your credit score . But there are other discounts that may be available depending on the company . Most companies offer discounts ofor insuring more than one car . In some cases , that discount gets deeper the more cars you insure . Liklewise , companies discount their car insurance if you also insure your home . Otheres apply an additional discount if you also insure your motorcycle , Boat or RV and others include a discount if you also have Life Insurance . Ask your insurance professional and you may be pleasantly surprised .


Input: How To Set Up A Retirement Plan For A Small Business?

Output: Sometimes the set up costs and ongoing maintenance expense can be prohibitive for a small business to install a qualified plan . A couple of considerations can help determine the selection of either a qualified or non-qualified plan , cost being the biggest item . The business owners tax bracket may warrant a individual qualified plan or an employer sponsored plan like a 401 -LRB- k -RRB- as an employer recruitment and retention benefit . There are many options to choose from depending upon the economic characteristics of the business .


Input: Can Illegal Aliens Get Car Insurance?

Output: I ca n't speak for all states but in California the state I operate in yes , illegal aliens are able to obtain auto insurance . The state believes they would rather have people driving on the roads insured . As an agent this is not a required question to offer a policy . All anyone has to do is have a foreign licensee and they are good to go .


Input: What Is Long Term Care Disability Insurance?

Output: Long Term Care and Disability Insurance are two separate policies . Long Term Care Insurance pays for skilled care when covered persons can no longer care for themselves . Disability Insurance pays the covered person cash if they can no longer work due to an illness or injury . Long Term Disability -LRB- without the word care inserted -RRB- is Disability Insurance that is designed for persons who are unable to work for an extended period of time -LRB- generally , a minimum of three months -RRB- .


Input: Does Nationwide Offer Renters Insurance?

Output: Yes , indeed Nationwide does offer Renters Insurance . We have represented Nationwide in Connecticut since 1985 and regularly discuss the need for Renters Insurance with our clients who have that sort of need . The coverage is comprehensive and we work to customize a plan to best suit our clients need for protection at a reasonable and affordable price .