Input: Does my sister get the insurance policy that I carry on my mom when she passes?

Output: Yes , since your sister is the beneficiary of the policy , she will get the proceeds from your mother 's life insurance policy , even though you pay the premium . You may be the owner of the policy without knowing it ; if so , you can change the beneficiary to yourself . If you mother owns the policy , you could talk to her about changing the beneficiary to you . Whoever owns the policy is the one who can make that change .


Input: Who Is Universal Life Insurance For?

Output: Universal Life insurance works well for people who want lifelong coverage at the lowest possible price . GUL -LRB- Guaranteed Universal Life -RRB- can be guaranteed not to lapse to age 120 + at a level premium . Because GUL has very low cash value , the premium can be kept relatively low for permanent coverage . Indexed Universal Life is a good product for those who want a safe way to save up money for retirement income . Unlike GUL , IUL is used to create large amounts of cash value that can be borrowed tax deferred during retirement . So Universal Life really can work for almost anyone . It is flexible and can be adapted for a lifetime .


Input: What Is Medigap Select?

Output: Each Medigap plan can be offered as a `` select '' plan . The premiums for these plans are generally less than those of the traditional Medigap plans , however , they require you use in-network doctors and hospitals -LRB- much like how an HMO works -RRB- to receive full benefits -LRB- except in the case of an emergency -RRB- . If you use a provider outside of the network , you may be responsible for the co-insurance that is not covered under Original Medicare as long as you use a doctor/hospital that accepts Medicare , If you buy a select Medigap plan and decide you would rather have a standard Medigap plan , you can change it to the standard plan within 12 months of when you started the coverage . A common question with select plans is `` if I move , can I take my coverage with me ? . Under select Medigap plans , you would have a guaranteed-issue right to purchase a new Medigap plan which plans are available depends on your zip code as not every plan is available in a given location . If applying for a new Medigap plan via a guaranteed-issue right , you can apply as early as 60 calendar days and up to 63 days after your coverage ended to buy a plan . Under a standard plan , you can take the plan with you as they are guaranteed renewable and have no networks . I hope the information is helpful - please feel free to contact me for help , including quotes and plan comparisons , and if you have any other questions . Thanks very much .


Input: What Is Medigap Select?

Output: In addition to what Jason stated , I 'd also like to point out that not all insurance companies offer Medigap Select plans . In fact , the insurance companies that offer Medigap Select Plans often are the major companies advertising online . Their premiums are usually high and to make the Medigap Plan more ` affordable ' , they offer the Medigap Select . One of the great benefits of having a Medigap Plan is your freedom to choose any Medicare provider without the boundaries of a network . Getting a Medigap Select Plan will limit your freedom . While you may be happy with your local in-network hospital , if you want to see a cardiologist in a neighboring state , you 'll be out of luck on a Select Plan . There are dozens of insurance companies that offer Medigap Plans at affordable prices . I 've never had to offer my clients a Medigap Select Plan F , G or N because I 've always found them an affordable Medigap Policy by taking the time to shop the Medicare Supplement market .


Input: What Happens When You Cancel A Life Insurance Policy?

Output: When you cancel a life insurance policy , you no longer have life insurance . If you have a permanent policy and cancel the policy during the first years of the policy , a surrender charge will be deducted from the cash value you receive , and you most likely will not receive any cash value at all . However , you will not owe money to pay the surrender charge . Term life insurance does not have any surrender charges because there is no cash value .


Input: Does Weight Affect Health Insurance Premiums?

Output: Health insurance companies currently evaluate your height and weight and calculate your BMI -LRB- body metric index -RRB- to get an idea of your overall health . I have had clients that have had to pay a surcharge -LRB- additional premium -RRB- due to being overweight and several declined due to morbid obesity . I even had a client declined for being underweight . Excessive weight can lead to numerous physical and medical conditions . Some chronic , some life threatening . There is no such thing as a healthy fat person .


Input: What Is The Oldest Life Insurance Company?

Output: The oldest insurance company in the world isprobably Lloyd 's of London . In the US , the first life insurance company was First Presbyterian , a stock company . The firstmutuallife insurance company was the New England , now owned by MetLife .


Input: Is Renters Insurance Really Necessary?

Output: If you can afford a financial loss of your personal items and can easily repurchase what may have been lost due to a potential event such as fire , water , wind , theft and so on as there are many perils that are covered then renters insurance is not necessary . If you can absorb the costs of a potential law suit for bodily injury and/or property damage that can run well into the thousands or hundreds of thousands even if the suit is only alleged then renters insurance is not necessary . If you can pay your loss of use -LRB- substitute housing -RRB- if you are potentially displaced from your home for a loss as mentioned above then renters insurance is not necessary . If you said no to any of these you may wish to consider renters insurance . Renters insurance has to be the most affordable insurance on the market that covers so much for so little .


Input: Does A Health Insurance Blood Test Check For Smoking?

Output: I 'm not aware of any health insurance plans that require blood and/or urine tests to qualify for . That said , the information is usually available through past medical history and may be found in the MIB -LRB- Medical Information Bureau -RRB- or your current doctor 's chart notes . The risk for someone who is a smoker and omits that information , is a cancelled policy . Usually this would occur at the worst possible time , during the filing of a large claim . With smoking , some states do not apply the 2 year contestibility clause and consider a contract between the insurer and insured to never have existed , so premiums are refunded . While with health insurance you may not be tested for smoking , they reserve and you consent to the right for them to check your health history , so any doctor you 've told or any treatment you 've had the possibility would exist that there is a record of it .


Input: Does A Health Insurance Blood Test Check For Smoking?

Output: With the passage of the Affordable Health Care Act insurance companies do little if any underwriting of health insurance policies . That being said , failure to answer a question honestly is always grounds for denial of a claim so honest is the best policy . Health insurance carriers rarely ask for medical tests as a part of any underwriting procedure .


Input: Is There An Affordable Life Insurance Policy For My 93 Year Old Dad?

Output: I regret to say that I personally do not know of any life insurance companies that will issue a new policy to someone past age 90 . Most affordable final expense policies have an age limit of age 80 or 85 . Now is a good time to purchase a final expense policy for yourself , if you do n't have one yet .


Input: Which Retirement Plan Is Best For Small Business?

Output: The best retirement plan for a small business depends on many factors , including the profitability of the company , its future outlook , the liquidity of its assets , and the amount of funds available to be invested for future use . An experienced financial planner will be the ideal person to discuss and review your options , and make a recommendation that will provide future retirement income .


Input: Which Retirement Plan Is Best For Small Business?

Output: Which retirement plan is best for small business ? Personally , I like the SIMPLE retirement plan for use with small business . Why ? because it 's SIMPLE ! This IRS created plan is one of the most inexpensive plans out there for a small business . For the business owner the rules are simple and clear . NO testing , no ERISA planmath nonsense , no per head fees for all employees -LRB- including those that do n't participate -RRB- , in other words if you follow the IRS guidelines you save about $ 3k to $ 5k a year in administration fees . A simple involves matching -LRB- 3 % a minimum of 3 out of every 5 years or 1 % for those two years -RRB- employees who participate in the plan . While this may seem like a lot of moneyfor amatch . Think of it this way . You are rewarding your employees who stay with you , rather than a bunch of guys downtown who administer plans . Look closer into these retirement plans . They are easy to establish , easy to administer and extremely inexpensive to run .


Input: What Job Is Cheapest For Car Insurance?

Output: Great question ! Unless you are using the car for a business purpose , there usually is n't a reason for the rate to be different one way or the other . If you are using the car for business , then you really want to have it insured as a business vehicle , because if you are involved in an accident and the adjuster finds that you had been using it in a company capacity , your family coverage may not be accepted . I know of several cases where the magnetic advertisement on the car caused the claim to be denied . Thanks for asking !


Input: What Job Is Cheapest For Car Insurance?

Output: In California occupation is not a rating criterion . The cheapest Auto policy is one that a company issues for you on your car . This is particularly true if the policy is in force on the day you have an accident . This is even truer if the limits of the policy are adequate to take care of every aspect of the claim . Anything else is too expensive ; you can buy low limits , save a small amount and be a huge looser when you have an accident .


Input: What Does A Retirement Plan Administrator Do?

Output: The Retirement Plan Administrator typically is responsible for administering all aspects of the plan for the plan sponsor -LRB- normally a company sponsoring the plan -RRB- . Some of the duties include providing summary of the plan to participants , selecting investments for the plan , enrolling plan entrants in a timely manner . Most plan administrators will contract with a third party to help with all the responsibilities , including filing Form 5500 -LRB- like a tax return for retirement plans -RRB- and often the testing required by the government to make sure the plan is not discriminating higher income employees over the lower income employees .


Input: Does Metlife Offer Annuities?

Output: MetLife does offer fixed and variable annuities . Annuities are offered by hundreds of insurance companies and come in many types , offering different benefits to suit a wide variety of situations . It is always a good idea to work with a knowledgeable , independent insurance professional to see which annuity will best fit your individual needs .


Input: How Can I Get Auto Insurance With A Suspended License?

Output: Your license is suspended and you need to get auto insurance . The vast majority of car insurance companies do not offer coverage if you do not have a valid license . Working with an experienced broker -LRB- and our top-ranked websites -RRB- will help you find the most affordable options . Also , requesting a hardship exception from your state may allow you to drive in specific situations -LRB- with coverage of course ! -RRB- .


Input: How Can I Get Auto Insurance With A Suspended License?

Output: Great question ! There is some legwork you will have to do , but if you are willing to do it , you 'll have insurance . Find an independent agent -LRB- one not tied to a specific brand name -RRB- who can search for you . There are companies that will write you provisional policies , if you can complete whatever requirements need to be done to reinstate your license within a specified period , usually 30-45 days . Since your license has been suspended , expect that it will be more expensive for you , or very difficult to even get , a policy , especially onethat covers more than just liability . Good luck ! Thanks for asking !


Input: How Can I Get Auto Insurance With A Suspended License?

Output: You ca n't with any company that I know of , policy has to be issued to a licensed driver . With a suspended license , you are not licensed to drive . Sorry . Try to get your legal issue resolved and then look for an agent/broker that can get you a policy . Good luck .


Input: How Can I Get Auto Insurance With A Suspended License?

Output: In California drivers with suspended a suspended license often get a non-owner policy that is not attached to any vehicle in order to have their license issued . This covers only liability . There are many companies that will write this type of coverage .


Input: How Can I Get Auto Insurance With A Suspended License?

Output: If the license is suspended and a condition of regaining your licenses is to obtain insurance then several carriers will issue a SR-22 form and you can get the insurance . However if you just want insurance with no option of regaining your driving privileges then you can not purchase insurance coverage .


Input: What Are Life Insurance Dividend Options?

Output: Life insurance dividend options tell the insurance company what you want to do with the dividend that is paid on a participating policy . Options depend on the company , but the most common options are : - Paid-up additions - where divididends are used to purchase paid up additions - Accumulate at interest - dividends are placed into an account at the insurance company and they earn a specificed interest rate set by the company - Reduce premium - dividends are used to pay down the premium or cover the entire premium due if the dividend is large enough to cover the premium - Purchase one year term insurance - the dividend purchases term insurance to increase total death benefit - Cash - the policy holder is simply paid the dividend as a check


Input: How Do You Buy Car Insurance In Ohio?

Output: While you can purchase auto insurance through the mail or online , it is always best in my opinion , to purchase auto insurance through a local independent agent . An independent agent can help you shop several companies , find you not only the best rate , but can also provide sound advice based on your individual circumstances . A good agent can provide service ad help advocate any issues with the company . Contrary to what some would like you to believe , you do not save money on agent commissions by shopping online . A good agent can help you find the right coverage at the right price and provide the service you need .


Input: When Do You Pay Taxes On Annuities?

Output: It depends what type of Annuity it is and if the Annuity is in a Qualified Retirement Account or not . If it is in a Qualified account , like an IRA/401k/SEP , then any distribution is 100 % taxable . If it is a non-qualified account , then only withdrawals of the gain are taxed -LRB- as income -RRB- . But since Annuities use LIFO , the gain will be the first part of the Annuity that is distributed . The growth of a non-qualified Fixed Annuity is tax deferred . If it is an Immediate Annuity/Lifetime Annuity , then again it depends on the tax status . For a Qualified account 100 % of the distributions/income will be taxable . For non-qualified , a portion of the payments will be tax-free and considered a `` return of basis/premium '' .


Input: When Do You Pay Taxes On Annuities?

Output: A non-qualified annuity defers taxation until money is withdrawn . When money is withdrawn the gain on the policy is treated as ordinary income , while the money invested is merely a return and therefore not taxed . If the annuity is in an IRA it is fully taxed as ordinary income when it is withdrawn and may be subject to mandatory distributions and even tax penalties . If the annuity is in a Roth IRA and meets all the requirements it can be withdrawn free of any income tax .


Input: When Do You Pay Taxes On Annuities?

Output: You pay taxes , ordinary income taxes when you take distributions of gain in the policy . Tax deferral can be a powerful feature of an annuity over time . Paying taxes only when you use the gain in the contract can provide an advantage over traditional CDs which tax the CD owner regardless of whether they use the money or not .


Input: Can You Take Life Insurance Out On Anyone?

Output: No , you ca n't insurance out on anyone . There has to be an insurable interest and the insured -LRB- person being insured -RRB- must consent , sign the application , and go through the underwriting process . Insurance is often taken out on spouses , parents or business partners as a financial hardship may occur if one of these people passes unexpectedly .


Input: Can You Take Life Insurance Out On Anyone?

Output: Traditionally , Mr. Abrams answer is correct . Traditional Life Insurance carriers will only issue coverage based on insurable interest guidelines -LRB- these guidelines tend to be a little different based oneach individualcarrier but not dramatically different -RRB- . However , there is at least one specialty carrier who can issue a `` Stranger Owned '' Life Insurance policy -LRB- STOLI -RRB- . Lloyds of London is the carrier that we represent when it comes to this type of need . Please keep in mind that products are State specific and not all products are available in all States . It is also important to note that every situation is different and as such , coverage is considered on an individual basis . I hope this answer helped . Thank you , Don Hansen


Input: Who Regulates Auto Insurance In Michigan?

Output: In Michigan , Auto Insurance is regulated by the Department of Insurance and Financial Services , affectionately known as DFIS . They are responsible for directing and regulating the insurance companies , brokers , and agents in Michigan . You can access their portal on the michigan.gov website . Here you can find information on any company or agent in Michigan . They are not only in charge of auto insurance , but most other types of insurance , too . So , if you have a few years to spend , have a look around the site . There 's more information than you could imagine .


Input: What Do I Need To Know When Buying Life Insurance?

Output: This is a good question . It 's not really a matter of what you need to know but rather what you want in a plan . What are you looking to accomplish ? Do you want to just cover final expenses or do you want to make sure the house and cars are paid off if you expire . You are welcome to contact us if you live in a state that we are licensed in and we can help you decide and enroll in a plan .


Input: What Do I Need To Know When Buying Life Insurance?

Output: Here are three things you need to know when buying life insurance . 1 -RRB- You should know that -LRB- unless you are buying a simplified issue plan for which you are either approved or declined -RRB- , your premium may not be exactly as your agent quoted . 2 -RRB- You should know what guarantees your policy has . Is the premium locked in for x number of years ? Will the death benefit pay out at death at any age ? Etc. 3 -RRB- You should know that you have a month free look period to decide if you want to keep your policy , after it is issued . And if you pay anything before that , it can be refunded .


Input: What Do I Need To Know When Buying Life Insurance?

Output: When purchasing life insurance it is always best , in my opinion , to sit down with a good experienced reputable agent and discuss your needs . There are a variety of products . While price is a consideration it should never be the deciding factor . If a product seems a lot cheaper than other like products there is a reason that you probably will not know about until it is too late . Consider these factors : What is the purpose of the insurance ? Is it to cover a long term need such as final expenses , or a short term need such as a mortgage ? You should use permanent insurance such as whole life to cover a long term need . Term insurance comes in all kinds of packages . One year term , 5 , 10 , 20 , and 30 are the most common . There is level term and decreasing term . Level term the death benefit stays level , decreasing term the death benefit decreases . Term insurance can be renewable or non renewable . It can be convertible to whole life or non convertible . In some term policies the rate can be adjusted according to the companies mortality history , thus it allows for premium increase . Term insurance premiums go up at each renewal . As you can see there are a variety of factors involved when buying life insurance . Unless you know and really do a lot of research on the different policies you may not purchase the best product that will meet your goals . A good independent insurance agent who specializes in life insurance and represents multiple companies can help you find the right product for your individual situation .


Input: What Do I Need To Know When Buying Life Insurance?

Output: When purchasing life insurance , you need to know : 1 -RRB- That you are getting your policy with a secure company and reputable agent . 2 -RRB- The features of your policy and what they mean . 3 -RRB- What guarantees are included in your premium , return and coverage . 4 -RRB- Whether you qualify for that policy based on a thorough review of your health and other details . 5 -RRB- What type of policy best suits your financial needs .


Input: What Do I Need To Know When Buying Life Insurance?

Output: The most important thing to know when buying life insurance is the agent with whom you are dealing . A great agent will listen carefully to you , will provide you with solid financial information and will communicate clearly with you and the insurance company . His job is to help you determine the level of coverage that you need and then arrange policies that will take care of that need and still stay within your budget .


Input: Does Home Insurance Cover Arson?

Output: Fire is a covered peril in every homeowners policy . This is the most basic coverage available . If the fire is accidentally caused by the tenant it is covered . If the owner purposely burns down their insured property they are committing a crime . Even under those circumstances coverage might be extended to another insured .


Input: Does Home Insurance Cover Arson?

Output: Arson is a covered claim to a homeowner 's insurance policy . Your coverage will include damage to the home , other structures , the personal property -LRB- usually at replacement cost -RRB- , additional living expenses and other specific benefits along with scheduled property . I am assuming , of course , that the the policyholder was not involved in the act of arson .


Input: How Does Life Insurance Cash Value Work?

Output: Some life insurance policies have a value that can be taken if the policy is surrendered or that can be taken as a loan . The cash value of the policy typicaly accumulates over the lifetime of the policy . If money is taken out of the policy as a loan it typically will lessen the death benefit of the policy and normally requires you to repay the loan within a set period of time or other consequenses can arise by not repaying the loan . There can be fees involved in this process . Be aware there are many different policies out there . To find out more about the cash value availablity within your policy , read your policy completely or contact your local agent to have them explain the details of your policy .


Input: Can A 70 Year Old Get Term Life Insurance?

Output: Yes , you can purchase term life insurance if you have good health . There are a few carriers that offer term life at fairly reasonable prices . I personally just delivered a term life insurance policy on a healthy 74 year old that needed better rates than a whole life policy would have cost .


Input: Can A 70 Year Old Get Term Life Insurance?

Output: That is a great question ! I 'm a little puzzled as to why you would want one though , unless it 's because you 've looked into a whole life policy , and found them to be too expensive . There are a couple of companies that advertise a lot on tv that will issue you a policy , but it also will be very expensive , and will end when you turn 80 . If you live to be 80 and a day , you 've thrown away 10 years worth of money . It is really impossible to give you good guidance without knowing more about your situation . If you 'd like some help , please drop me a line , and I 'll see what we can do . Thanks for helping !


Input: Can A 70 Year Old Get Term Life Insurance?

Output: Yes you can but it will be expensive , even if you are in perfect health , you looking at 100 plumes a month and there might be restrictions . You can also get a final expense policy witch will cover all of your funeral needs and not leave that expense to your family .


Input: Can A 70 Year Old Get Term Life Insurance?

Output: A quick look in my manual shows that about the only new contract available to a person over 70 years old with my company is a single premium whole life . Term insurance is not issued after age 70 . The single premium whole life might be an interesting concept to consider as it allows you to make a single deposit now and take care of bequests or debts or final expenses when you pass .


Input: Can A 70 Year Old Get Term Life Insurance?

Output: There are far fewer companies that will offer term life insurance to a 70 year old person than to a 40 year old , but they do exist . Most often , at that age the policy is a universal life policy that is guaranteed not to lapse for x number of years at a guaranteed level premium . The rates are as low as term rates , and you have the option of dumping in more money to keep the policy in effect longer , which is an option you do not get with term insurance .


Input: Can A 70 Year Old Get Term Life Insurance?

Output: The short answer is `` yes '' , however at this age you may find it a much better alternative to purchase a permanent policy . First , someone 70 will generally have an objective of having coverage last for a lifetime instead of a period of time . Unless the 70 year old has borrowed money or some other situation that requires term , its probably a bad idea .


Input: Will Medicare Still Accept Paper Claims?

Output: As far as I know , Medicare does not accept paper claim forms . At least one source indicates there may be exceptions to the electronic claim rules . `` Small '' providers may be exempt from submitting electronic claims as may providers that have fewer than 10 Medicare claims per month . Check with your Medicare claims administrator for determination .


Input: How Much Is Car Insurance For A Volvo?

Output: Great Question a very nice car a Volvo . The cost to insure a Volvo depends on many factors like your driving record , your insurance history , your age , your driving experiance and what part of the country you live in . You can contact your local independent agent to shop around for you .


Input: Does Home Owners Insurance Cover Pool Damage?

Output: More than likely not . It would depend on the policy language , the cause of the pool causing the damage and the type of damage caused . This question would be best discussed with one of the claims adjusters of the company that you have the policy thru . As alway read your policy completely to know what is covered or what is excluded or call your local agent and have them explain the coverage and exclusions of the policy .


Input: Is Life Insurance Taxed In Indiana?

Output: Life insurance is not charged income tax in Indiana or any other state , as long as the beneficiary is a person . If the beneficiary is the estate , the proceeds will be subject to income tax . Also , interest paid on the face amount for cash value policies can be taxed . Federal and state estate taxes also are charged on the excess over the exempt amount .


Input: Is Life Insurance Taxed In Indiana?

Output: Yes possibly . Indiana has an inheritance tax that life insurance can be included in . Spouses are exempt , but most other kin and non-related persons to the insured could incur the inheritance tax . In Indiana the tax ranges from 1 to 20 % and is due 9 months after death .


Input: How Should A 30 Year Old Save For Retirement?

Output: Saving for retirement as a 30 year old you have an advantage over a 50 year old you have time . First thing to do is start saving regularly now . You should take advantage of tax deferral plans to get the full effect of compound growth . In Canada that mean Registered Retirement Savings Plans -LRB- RRSPs -RRB- and Tax-Free Saving Accounts -LRB- TFSAs -RRB- . If you have an employer that will contribute match your contributions take advantage - that is free money . Financial or retirement planner can help you determine what your specific portfolio should look like , depending on your risk tolerance and time horizon . Financial planning , Retirement planning and Estate planning are all integrated . What you do with one often affects the other . The first step in planning for a Good Retirement is to start saving regularly as early as you can . The challenge often is that retirement seems so far away that it is easy to put off . Now that you have started saving , what are you saving for ? Deciding what a successful retirement means to you can be quite challenging . What do you want to do for the rest of your life ? A lifestyle planner can help . There is some information on this topic under retirement on my website www.jpw.ca if you are interested . Now that you have a basic idea of what your successful retirement means , the numbers can be `` crunched '' . Your retirement or financial planner can fine tune your retirement planning to make what you want to happen , happen . What particular investment vehicles you should use , depends on your individual situation . Be sure to take advantage of retirement plans that are tax deferred -LRB- in Canada , RRSPs and TFSAs -RRB- . Tax deferral allows you to get the full effect of compound growth . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Does Renters Insurance Cover Theft On Vacation?

Output: Most renters policies provide for a percentage of your personal property to be covered away from your residence . In most cases a limit of 10 % of the personal property limit applies . If you suffer a loss to your property while away from the residence that limit will apply and a claim will be adjusted subject to the deductible . The property that you left behind will be covered whether you are home or not .


Input: Does Renters Insurance Cover Theft On Vacation?

Output: It is always best to discuss the terms and conditions of your policy with your Insurance Professional , but you will find that your policy will more than likely include extended coverage for your personal belongings outside your home . The coverage may be limited in a couple of ways , namely by capping the total amount to 10 % of your stated personal property amount . So if you have $ 50,000 of stated personal property on your policy , your coverage would be limited to $ 5,000 . Further , some policies include specific amounts or `` inside limits '' for certain categories of property . Things like jewelry , fire arms , photographic equipment and the like may be limited to a maximum settlement amount . Remember too that any loss settlement is subject to your policy deductible .


Input: What Is The Purpose Of A Disclosure Statement In Life Insurance Policies?

Output: Assuming the question is referring to a product disclosure : Most states require a disclosure statement in a life insurance policy as a consumer protection for the insured and the policy owner . The disclosure statement general attempts to clarify the provisions of the policy or product to prevent misinterpretation of the policy .


Input: What Is The Purpose Of A Disclosure Statement In Life Insurance Policies?

Output: Ironically , the purpose of a disclosure statement in life insurance policies is , partly , to describe the purpose and importance of the disclosure . The disclosure statement will state what the policy is intended to do , and what the policyholder 's responsibilities are . It will outline the coverage , cost , personal information of the insured , source of the insurance , and certification and maintenance of the policy .


Input: What Is Humana Gold Medicare?

Output: This is a good question . Humana Gold is a Medicare advantage plan . If you have Medicare parts A and B , you may qualify to apply . It is a very popular plan . Medicare advantage -LRB- Medicare part C -RRB- plans typically will give you more benefits than having Medicare alone .


Input: What Does Renewable Life Insurance Mean?

Output: A renewable policy is generally renewable for a specified period of time . During that period the insured can continue coverage regardless of health by paying the renewal premium . Renewal premiums are generally a great deal higher than the initial premium but might be a bargain if the insureds health has deteriorated in the meantime .


Input: What Does Renewable Life Insurance Mean?

Output: Renewable Life Insurance is life insurance that can be renewed when the policy ends . When the policy is renewed , coverage is extended for another set period of time at a higher rates . When annually renewable , the policy will be extended for one year at that price , then can be renewed the following year at a higher price if you so choose .


Input: Is Genworth Long Term Care Insurance Good?

Output: There are less than a dozen good companies remaining in the long term care insurance market . And half of those are excellent long term care insurance companies . Genworth is among the best , especially with its latest policy rendition . And if it means anything , your humble responder -LRB- me -RRB- owes Genworth .


Input: How To Roll Over 401K To Roth IRA?

Output: A 401 -LRB- k -RRB- is funded with before tax contributions . Income tax has not been paid on either the amount contributed to the plan , the employers contribution if any , or the gain the plan has realized . That income tax would need to be paid if the 401 -LRB- k -RRB- were rolled into a Roth IRA . The preferred method for any roll-over is a direct , trustee to trustee exchange . If you accept your 401 -LRB- k -RRB- in cash you must roll-over the amount quickly and carefully . See a licensed insurance agent to accomplish this roll-over .


Input: How Do You Get Life Insurance?

Output: To get life insurance , you first must determine what type of policy you want , and how much coverage you need . Sometimes people come to us with this all figured out , then find out that they do not qualify for that type of policy , or can not afford the face amount they have chosen . Therefore , it can be helpful to bring your financial data to your agent and work that out together . Once you decide what type of policy you want to apply for , the next step depends on the product you chose . If you want to apply for No Exam policy , you may be able to fill out a digital application and have your policy in effect within a few days . If you apply for a medically underwritten policy , you will first complete a fairly lengthy application . Some people choose to do this on their own , some with their agent , or others do it via phone interview with the life insurance company . Medically underwritten policies require taking an exam in your home or other place of your choice . This is usually done by a local paramed company . The insurance company may also order medical records from your doctors . Once the underwriter has all the required medical information , he/she will approve your policy at the rate for which you qualify . You accept your policy by signing some delivery paperwork and paying the first premium . You have a free look period to decide if you want to keep it . Once it is in effect , no one can take your life insurance policy away from you , as long as you continue to pay premiums in a timely manner .


Input: How Do You Get Life Insurance?

Output: You should work with an independent life insurance agent/broker to help you secure a policy . There are many moving parts to life insurance and many companies to compare . We can work with you to determine how much coverage is suitable to your needs and how long you should have the premium guarantees for -LRB- e.g. term vs. permanent -RRB- . Identifying which carrier will work best for your program can be a difficult path to navigate . The risk class a carrier assigns to your program is one of the most critical parts of life insurance -LRB- the risk class determines the premiums - the better the risk class , the lower the premiums and vice versa -RRB- . The risk class is determined by your medical history -LRB- and an exam for most programs -RRB- . It 's important to remember that every carrier has their own underwriting guidelines . Therefore , company ABC may offer you preferred plus , while company XYZ may offer you preferred -LRB- requiring higher premiums -RRB- .


Input: How Do You Get Life Insurance?

Output: You should work with an independent life insurance agent/broker to help you secure a policy . There are many moving parts to life insurance and many companies to compare . We can work with you to determine how much coverage is suitable to your needs and how long you should have the premium guarantees for -LRB- e.g. term vs. permanent -RRB- . Identifying which carrier will work best for your program can be a difficult path to navigate . The risk class a carrier assigns to your program is one of the most critical parts of life insurance -LRB- the risk class determines the premiums - the better the risk class , the lower the premiums and vice versa -RRB- . The risk class is determined by your medical history -LRB- and an exam for most programs -RRB- . It 's important to remember that every carrier has their own underwriting guidelines . Therefore , company ABC may offer you preferred plus , while company XYZ may offer you preferred -LRB- requiring higher premiums -RRB- . If you would like assistance with your life insurance needs , send me a private message by clicking on the `` contact me '' button under my profile picture or visit my website , www.TermInsuranceBrokers.com , for information -LRB- you can run instant quotes as well - we 're licensed in many states across the country -RRB- .


Input: How Do You Get Life Insurance?

Output: You can obtain Life Insurance in several ways as easy as going online to purchase . The way I would best recommend is speaking to someone who has knowledge and background in the industry . You are going to want to have an analysis of your personal situation so that all things can be taken into consideration . When making a choice please make sure that you purchase a policy with Living Benefits built into the policy . Do n't purchase the kind of life insurance you have to die to use .


Input: How Can I Reduce My Auto Insurance?

Output: You can reduce your auto insurance premiums in many ways . Of course , shopping through an experienced broker -LRB- or online through a respected website -RRB- may yield substantial savings . They do the shopping while you relax and do the saving ! Increasing your collision and comprehensive deductibles will lower your rate . There are many options that may be very cost-effective for you . Verify that you are receiving all discounts that you are entitled to by speaking to a broker . 55 and retired , good-student and low-mileage are just a few discounts that most carriers offer . Improve your driving record and/or credit . It will help ! And it may save you thousands of dollars instead of hundreds of dollars over your lifetime .


Input: How Can I Reduce My Auto Insurance?

Output: Everyone wants to pay less for car insurance but what you need to focus on is making sure you get the best value for your money . You can increase deductibles , lower liability coverage or reduce your policy to liability only but be careful before making any of these changes . Make sure you understand how much you would have to pay when you have an accident and then see if the savings makes sense for your situation .


Input: What Does Annuity Due Mean?

Output: The word , annuity probably dates back to Rome . The annua was an annual payment . There were some arrangements where the payment lasted the lifetime of the recipient . Tables for these payments were developed during the Roman Empire and used to compensate soldiers for their service . They received a life time of annual payments .


Input: What Does Annuity Due Mean?

Output: Most annuities are ordinary annuities - the payment -LRB- income payment -RRB- is paid at the end of the period . For example you invest in an income annuity today and one month later your monthly income starts . An annuity due requires payment at the beginning of the period . If you have further questions , you can contact me through this website or www.jpw.ca


Input: What Does Annuity Due Mean?

Output: That is a great question ! The definition of an annuity is '' any stream of payments that has a fixed total . '' When we use the word in our financial word , we are referring to an investment vehicle designed for providing a long lasting income stream . They are offered by insurance companies and other financial institutions , and are used to fund retirements , grants and trusts . Here 's a very simple description of how an annuity works : They are funded by a deposit , which then sits for a number of years gathering interest . After that period of time , the annuity begins paying out a set amount until either it runs out , the owner dies , or the owners spouse dies , depending upon how the annuity is structured . It guarantees that there will be an income that lasts as long as you do . Because they require that the deposit sit untouched for many years , an annuity may not be a good investment for some people . That deposit money can be taken out , but there are very costly penalties . As a result , regulations require that the seller sit down with you first and do what is called a `` suitability study . '' They will go over your financial situation , your retirement plans , and your goals . If it is found to not be `` suitable '' for you , they can not sell you one . This protects folks that may have need for that cash from being trapped into a losing investment . I hope that answers your question for you , if you 'd like more detail , I 'd be happy to help , feel free to contact me , okay ? Thanks for asking !


Input: Will Home Insurance Cover My Laptop?

Output: Discuss the specific terms and conditions of your Homeowners policy with your Insurance Professional , but it is likely that your policy will provide some coverage , albeit limited , for your laptop . Naturally any loss settlement would be subject to your policy deductible and there may be certain `` inside limits '' for laptops , computers , tablets , etc. that cap the amount of coverage and causes of loss .


Input: Does Home Insurance Cover Electrical Surges?

Output: Yes it does . If you suffer such a loss as a result of a direct or indirect lightening strike , for example , then any damage to your electrical system , well pump , appliances and even in some cases , lost food out of your freezer and refrigerator should be covered . This last one , of course , would be a result of a long term power outage .


Input: Why Is It Important To Have A Retirement Plan?

Output: Its extremely important to pay yourself first , which is the money mantra of retirement . Life expectancy is ever increasing , so your retirement period may be 30 years or more . Contributing to a retirement plan every year will determine your lifestyle in your golden years .


Input: Does Divorce Affect Life Insurance?

Output: Divorce does not automatically affect life insurance . Unless the policy owner makes changes to the policy , either by choice or court order , the policy will remain the same . That is why it is important to attend to your life insurance after a divorce , or your death benefit may go to the wrong person .


Input: Does Divorce Affect Life Insurance?

Output: Life insurance is a contract between an insurance company and the owner . The subject of the insurance , the insured , may be someone other than the owner . The owner is the person with the power to change the beneficiary . In a divorce settlement care should be taken to identify the owner of the insurance . Existing insurance is difficult to handle in a divorce settlement . When alimony and/or child support is involved it is often better to have the recipient of those payments purchase and own a policy of life insurance on the party paying the alimony or child support . By doing that all of the control over the policy is in the hands of the recipient , to include the power to change the beneficiary . The other major area of concern involving divorce and life insurance is company sponsored life insurance . Often this is overlooked and the intentions of the court and the desires of the beneficiary thwarted if ownership remains in the hands of the other party . The employee can merely call the HR department and changes the beneficiary to someone else .


Input: Does Divorce Affect Life Insurance?

Output: Divorce does affect life insurance but maybe not in the way you are asking your question . It does not affect your premiums or cost but it will affect other aspects of your policy . The first thing that needs to be addressed is the beneficiary . You may not want your ex to receive your life insurance proceeds . Next aspect to be examined is your face amount . Now that you are on your own , do you have the proper amount of life insurance for children , loved ones to cover debt , etc. ? Last is the term or type of policy . Are the premiums guaranteed for the proper amount of time ? I recommend sooner rather than later sitting down with your agent to address these needs before it becomes too late .


Input: Does Divorce Affect Life Insurance?

Output: Larry and Lee have good information . I will add one more thing . Sometimes you had a policy with your spouse where either you or your spouse were a secondary insured on their policy . You usually wo n't want to leave it that way . If you were the main insured , you are paying the extra premium to cover the rider of your ex-spouse . You might want to leave it if you are the beneficiary but you want to be aware of it and be aware of your options . If you are the rider on your ex-Spouse 's policy you have a bigger problem . You should take out new coverage on your own . Do not trust that your Spouse 's policy will always be there to cover you . There are a lot of variables here . Work with your insurance broker and get good advice .


Input: Does Divorce Affect Life Insurance?

Output: New York and some other states are known as `` divorce revocation states . '' There is a provision in the N.Y. Estates Powers and Trusts code that automatically revokes an ex-spouse as beneficiary of a life insurance policy . Under certain circumstances this little known provision can wreak havoc on the lives of a surviving parent and children when an ex-spouse dies . The law states that your spouse is automatically revoked as beneficiary of any life insurance policy as soon as you are divorced , even if you do n't want them to be . There is a way this can be addressed , but it requires that the policyholder take action . Let 's assume your husband has a $ 500,000 life insurance policy and you are the beneficiary . You are getting divorced and you both agree that you will work together on any issues involving your children . Your marriage is bad , but you still work together as parents . Your husband says that he will leave you as beneficiary of his life insurance policy until the kids are self supporting . If he just `` leaves '' you as the beneficiary , you will no longer be the beneficiary as soon as you divorce . The state of New York has determined that by the act of the divorce itself you are no longer legally his beneficiary . If he dies without having taken any action , the contingent beneficiary will get the proceeds , not you . In order to fix this , your now ex-husband needs to complete a beneficiary change form and make you the beneficiary again , this time listing your relationship as `` ex-spouse . '' It 's a small technicality but not addressing it could be financially catastrophic . By naming you as his beneficiary and ex-spouse after the divorce , you are now legally the beneficiary again . I saw one case where the wife `` took over '' her ex-husbands life insurance policy to make sure the policy stayed in effect and she remained the beneficiary . She had been paying the premium for many years when her ex-husband passed away . When she filed the death claim she was told that because the beneficiary designation predated the divorce she had been revoked as beneficiary . The benefit was paid to someone else . If you are divorced and you or your ex-spouse 's life insurance predates the divorce , it 's critical that you find out if yours is a divorce revocation state . If it is , update your beneficiaries . I apologize for the very long post , but there are many women -LRB- and men too ! -RRB- that need to be aware of this .


Input: Does Divorce Affect Life Insurance?

Output: +1 Larry 's answer . I will add that cash values in Life Insurance can also play a role . They can be considered an asset and the owner of the policy could be made to buy the other party out . Note the owner and the insured may not be the same person . On that note , a decree could also dictate who will be the owner of a policy going forward . Example : If I and my wife own policies on each other .


Input: Does Divorce Affect Life Insurance?

Output: Maybe better put as can Life insurance be effected by a divorce ? The answer is `` yes '' . The court can degree as part of the settlement that life insurance is maintained and beneficiary be illrevocable for a certain number of years . For example , say children are involved and support is required . The court could mandate that life insurance is carried for a certain number of years and that a trust for the children 's benefit be created upon death to continue support payments . So a life policy could be effected by divorce through legal process . One thing to consider as well is if no requirements are set by the courts , the last stated beneficiary would be the one to receive life insurance proceeds . So failure to change the beneficiary would result in a pay out to someone the insured no longer intended the proceeds to go to . A change of beneficiary form is easy to get and easy to use and becomes part of the policy once submitted to the insurance carrier . You can contact your agent or even the company directly for this form .


Input: How To Choose A Homeowners Insurance?

Output: That is a great question ! The best way to choose a policy is to do two things : Your homework , and the legwork . Ask around family and friends and see what they did , or did n't do when choosing theirs . If a family member has a similar sized home , ask what their policy covers , and costs . Have a good idea what the value of your things are - have serial numbers , models and makes , even pictures of things to establish value . Get comparable prices . List everything - clothes , appliances , lamps , everything that you would have to replace . Some companies , like State farm , will have a program that can help you do this , and store the information for you . Then do the legwork - find a good agent , and compare prices . Talk about deductibles , and replacement value . When you are comfortable , then buy . If you need help , please feel free to contact me , okay ? Thanks for asking !


Input: How To Choose A Homeowners Insurance?

Output: The most important step in choosing a homeowners policy is to select a trusted insurance agent . If you dont have such an agent seek recommendations from friends , colleagues and neighbors . A trusted agent will listen to you , provide sound financial advice and communicate clearly with you and with the insurance company . Setting the limits of a homeowners policy is critical . Regardless of the premium , if the coverage is inadequate to meet a claim you will not be pleased .


Input: How To Choose A Homeowners Insurance?

Output: Naturally start by having an open and honest discussion with your Licensed Insurance Professional about coverage options that are available to you . Insurance is a participatory sport , though , so it is wise and proper that you do your own `` due diligence '' research as well . Look for a company with a solid and long track record and sound financials . Will that company be around if you need to use the coverage they sell you ? Look for a company and an Agent that takes the time to fully review and inspect your property and bases their recommended coverage on a current Reconstruction Analysis to be sure that you have the right coverage to start . Finally , talk to your Insurance Professional about any available discounts for which you may be eligible .


Input: Can Someone On Disability Get Life Insurance?

Output: Disability insurance is based on morbidity events . If the morbidity event doesnt have inherent mortality debits or negative implications , then life insurance , a mortality product can still secured all other things being equal . That means a disability caused by an injury that has recovery prospects has a better opportunity than a disability caused by a disease that is ongoing as an example .


Input: Can Someone On Disability Get Life Insurance?

Output: Yes you can get life insurance , you just will not be able to get the disability waiver of premium rider . The type of policy , premium , and face amount might depend on the reason for your disability . You could get anywhere from Standard or even Preferred Rates to having to go with a higher premium Guaranteed Issue policy


Input: How Much Does Health Insurance Go Up Each Year?

Output: Prior to 2014 it was reasonable to anticipate annual increases in group and individual health insurance in the high single digits to low teen 's range . Though , of course , these are just generalized averages and a host of other factors could move rates higher or , in rarer instances , lower . We have already seen the base cost of health insurance increase fairly substantially in 2014 due to the implementation of the requirements of the Affordable Care Act -LRB- ObamaCare -RRB- . The effect was especially pronounced in the individual health insurance market of almost every state due to the mandatory addition of new benefits , the move to the community rating approach , the elimination of underwriting and adjusting rates for risk , and making all policies guaranteed to be issued without pre-existing condition limitations or exclusions . In mid-2014 we are just now beginning to receive health insurance companies filings for their proposed 2015 rates . While the rate filings vary from state to state and from insurance carrier to insurance carrier , individual health insurance rate increases in the teens to 25 % or more are being reported in many areas across the nation . In some limited instances though , you are seeing some filings requesting rate reductions but these are pretty rare . Therefore , most people should be prepared to see their rates for individual health insurance increase meaningfully again in 2015 , though this effect may be hidden to some extent for those persons who qualify for premium tax subsidies through the government health insurance marketplaces . Many small business groups are also seeing substantial rate increases in their renewal actions for the 2014-2015 benefit year . Increases of 20 % to 40 % are not uncommon .


Input: How Much Does Health Insurance Go Up Each Year?

Output: The increase in premium on a health insurance plan will be different for everyone because we each have different insurance companies we use , different plans -LRB- catastrophic , bronze , silver , gold , and platinum level plans -RRB- , live in different areas , etc. . Factors such as claims history from the prior year , the service area , the cost of care in a given area , and many others go into the rate increase determination by each carrier . There 's no specific percentage or dollar amount that a plan will always go up by . For example , a carrier may have a 2 % increase one year , no increase the next year , and a 6 % increase the year after that . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any further questions . Thanks very much .


Input: How Does Cancer Insurance Work?

Output: Cancer insurance is used to help pay for non-covered and out of pocket items under your major medical plan . These things will include your deductibles and copay , as well as some treatment disallowed under major medical . Some cancer plans are reimbursement policies while others pay a lump sum cash benefit on first diagnosis .


Input: Things To Look At When Buying Health Insurance?

Output: Excellent question ! You essentially have 3 main variations on the theme when purchasing ObamaCare compliant major medical insurance ; 1 -RRB- Conventional plan designs with office visit & prescription copays and lower deductibles -LRB- pretty pricey these days -RRB- 2 -RRB- High deductible health insurance plans designed to work with a Health Savings Account -LRB- HSA -RRB- or a Health Reimbursement Arrangement -LRB- HRA -RRB- - becoming more common . 3 -RRB- Plans that fall in between , here you may see a plan with office visit copays and a high deductible applying to everything else , plans with prescription copays and a high deductible applying to everything else , or plans with more moderate deductible levels with all services subject to the plan 's deductible and co-insurance requirements but that also do n't meet the IRS requirements for being an HSA eligible plan . Simple , right ? First , determine if the doctors , hospitals and pharmacies you want to use are in-network providers for the plan you are interested in . Second , review you health and your history of health care consumption . Your needs and usage at 27 will probably be much different than when you are 47 . Try to pick a plan that you believe will meet your needs in the coming year at the best value . Determine if the plan you are interested in allows for direct access to specialists or whether it requires you to be referred out by your primary care physician first . Neither approach is bad but you should understand how you are supposed to access care in order to maximize your benefits and minimize your costs . Ask what your coverage is when you are outside of your immediate area . Increasingly you may find that you only have emergency care outside of a plan 's `` service area '' or perhaps no coverage at all . Do you have special needs ? A chronic illness or injury that requires ongoing treatment or expensive prescription medication requires extra homework . For example , some health plan 's pharmacy benefits cover HIV/AIDS medications at the lowest level -LRB- to them , highest for you -RRB- possible . Finally , compare monthly premiums . The lowest monthly cost , while always attractive , many not really be the lowest annual cost for you once you factor in some or all of the issues I have pointed out above . It may be worth another $ 50 a month in premiums to have a prescription copay instead of a deductible of up to $ 6300 to meet before your expensive medication is covered .


Input: What Is A 457 Retirement Plan?

Output: 457 deferred compensation plans that allow pretax contributions . The earnings accumulate tax deferred and allow you a catch up contribution of $ 5,500 you are age 50 or older . 457 -LRB- b -RRB- deferred compensation plans that are available in government and non-government organizations under 501 -LRB- c -RRB- . 2013 contribution limits are $ 17,500 .


Input: Can I Go To The ER Without Health Insurance?

Output: Yes , you sure can . How they will treat you when you get there is a different question . Most hospitals will treat you whether you have health insurance or not . There are some , however , that may not . In that case , they would send you you to the hospital that will treat you . It also depends on what you need . If it 's something minor , you may wait or they may send you to a different hospital . If it 's critical , they will either treat you there or stabilize you to go to a different hospital . Either way , they will bill you for their services and , the more serious the case , the more it will cost . If you 're considering going to the Emergency Room , you should take a moment and think about whether that 's the right place to go . There are many Urgent Care centers that can help you with more minor issues like fevers , sprained ankles , and minor injuries . You 'll probably get treated more quickly and it 'll cost a lot less .


Input: How Cheap Is Renters Insurance?

Output: Renters Insurance can be purchased for as little as $ 8/mo . . Make sure to purchase a policy with replacement cost for your belongings . The coverage typically adds 10 % -20 % to the policy cost , but it makes sure your belongings are replaced with a new item equivalent rather than being depreciated in value due to age .


Input: Does Home Insurance Cover Structural Damage?

Output: Structural damage may be covered under your homeowners policy . Coverage is going to depend a lot on the cause of the damage and also the coverages that offered by your your homeowners policy . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: Will Medicare Cover Hospice In A Nursing Home?

Output: Yes ! Depending on your condition , you may get hospice care in a Medicare-approved hospice facility , hospital , nursing home , or other long-term care facility . The hospice benefit with Medicare allows you and your family to stay together in the comfort of your home unless you need care in an inpatient facility . If the hospice team determines that you need inpatient care , the hospice team will make the arrangements for your stay . Hospice care is intended for people with 6 months or less to live if the disease runs its normal course . You can get hospice care for two 90-day benefit periods , followed by an unlimited number of 60-day benefit periods . A benefit period starts the day you begin to get hospice care and it ends when your 90-day or 60-day period ends . You have the right to change providers only once during each benefit period At the start of each period , the hospice medical director or other hospice doctor must re-certify that youre terminally ill , so you can continue to get hospice care . If you live longer than 6 months , you can still get hospice care , as long as the hospice medical director or other hospice doctor re-certifies that you 're terminally ill . You can read more details about Hospice Care & Medicare on my blog at WEBSITELINK


Input: What Does The Bible Say About Life Insurance?

Output: I am certainly not a scholar and can say I do not know the bible like I should however I can safely say the bible does not talk about Life Insurance by that name . There are many versus and scriptures however that talk about managing your money , staying out of debt , lending money , etc. . . There is nothing wrong with taking care of loved ones or your obligations to cover your expenses when you pass away . There are ways you can have to benefit paid out as to prevent or at least minimize what I refer to as the `` lottery syndrome '' which is someone receiving a large sum of monies when they have not earned them . There is no respect for that money and therefor will and has been spent unwisely . If you need more information , I can refer some books for you to read which draw upon scripture and managing your monies .


Input: What Does The Bible Say About Life Insurance?

Output: Life insurance was not in existence at the time the Bible was written , but there are verses that could relate to the concept of life insurance . Prov . 13:22 a `` A good man leaves an inheritance to his children 's children . . '' 1 Tim 5:8 `` But if anyone does not provide for his relatives , and especially for the members of his household , he has denied the faith ... '' Life insurance is a financial vehicle , as are savings accounts , money markets , stock markets , etc. . The Bible has a lot to say about money ; it is up to you and God to determine what is right for you .


Input: Is My Life Insurance Policy Part Of My Estate?

Output: Yes , the death benefit that your beneficiary would receive is considered part of the value of your estate . If you passed away leaving a surviving spouse , your spouse would not have to pay any federal estate tax , regardless of the size of your estate . If no spouse is surviving at the time of death , there is a 5.25 million dollar exemption , plus any exemptions remaining from when the first spouse died . Only the amount beyond that exemption is taxed . State estate taxes have their own exemptions and regulations , depending on the state .


Input: Is Giving My Life Insurance Policy Away To A Charity A Good Idea?

Output: The idea of giving life insurance proceeds to your favorite charity can be a noble idea . If there are no loved ones or business interest that would suffer a financial loss at your death , a charity can be a wonderful idea for these tax free proceeds . Be sure and seek advice from your attorney or speak to the charities accountant department to be sure you list the beneficiary properly on the policy to help them avoid unnecessary taxation of the charity . Congratulations on your noble idea .


Input: Is Giving My Life Insurance Policy Away To A Charity A Good Idea?

Output: Video Transcript : Hello everyone , I 'm Steve Savant , syndicated financial columnist and host of the weekly online talk show Steve Savant 's Money : The Name of The Game . I 'm answering questions from insurancelibrary.com , and today 's question is : is giving my life insurance policy to a charity a good idea ? Well , first of all , do you have a charity that qualifies as a non profit under the IRS rules ? Second of all , is this a charity that you want to see go into perpetuity ? Third of all , if your contract is existing and you really do n't need it anymore , you do n't need it for yourself , you do n't need it for you beneficiaries , maybe your children or grandchildren , you could gift your policy to the charity . Some people will also write a policy on themselves from day one and have the charity own it . It really depends upon what you 're trying to get done , but if you 're trying to see your organization go into perpetuity and you no longer need an existing contract , this is a really good option for you to look at . A charity , you can gift your life insurance to the charity of your choice , and just make sure that it 's IRS approved . Well , that 's our consumer question for the day . If you have any questions , just submit them to www.insurancelibrary.com .


Input: Can You Pay Health Insurance Premiums With An HSA?

Output: To simplify the answer yes . A Health Savings Account is used to pay health insurance premiums , medical expenses , and any other expense incurred medically . dont confuse with Flexible Spending Account where if you dont use the money you lose the money in the account .


Input: Can You Pay Health Insurance Premiums With An HSA?

Output: An HSA is one of the most affordable types of health insurance plans available to individuals and families . Typically , you pay premiums to the insurance company -LRB- a high-deductible health plan -RRB- and you can make optional deposits into your side account -LRB- The HSA -RRB- . The savings portion should be used to pay for qualified medical , dental and visionexpenses , so you can take advantage of the tax deduction . Shopping for the best options through an experienced broker will save time and money . And maybe aggravation too !


Input: Does Life Insurance Pay Medical Bills?

Output: The great thing about life insurance is that the beneficiary receives the money proceeds tax free and can spend them on anything they wish including medical bills . If you purchase a cash value life insurance plan such as whole life insurance or universal life insurance , you can borrow from your cash value tax free and use the money for medical bills or anything else you desire . You may also purchase a rider on most all types of life insurance plans that can give you proceeds to be used in case of a critical illness and that money can also be used for mounting medical bills . So , the simple answer to your question would be yes , you can use life insurance to pay medical bills if you so desire .


Input: Does Life Insurance Pay Medical Bills?

Output: Unless one has life insurance with `` living benefits '' , the death benefit is paid out upon the death of the insured person , and the beneficiary may use the life insurance proceeds as they wish . They might use it to pay medical bills , burial expenses , to pay off a mortgage , or invest it for future needs . Life insurance with living benefits allows the insured person to use some of the money that would normally have been paid out at his/her death , to use while he/she is still alive , under some circumstances . If the policy includes a benefit for critical illness , this can be used to pay medical bills for some critical illnesses such as heart attack or certain types of cancer . A chronic illness living benefit provides cash for expenses incurred when unable to do two or more ADL 's .


Input: Does Life Insurance Pay Medical Bills?

Output: I will be dating myself by saying this , but life insurance is the silly putty of financial products . It can do just about anything . So yes , if you have cash value life insurance you can use the funds for a medical bill that has come to you unexpectedly . You can use your cash values for any purpose you choose , which is a blessing and a curse . The blessing is you can use the cash values for any emergency . The curse is what you define as an emergency .


Input: Can I Get Life Insurance After Open Heart Surgery?

Output: It is pretty easy to get a simplified issue life insurance policy after having a coronary bypass . And as the name says , you are guaranteed to qualify for a guaranteed issue policy . If you want more than $ 50,000 of coverage , whether you qualify for that amount will depend on the age at which you had your open heart surgery , how many vessels were involved , whether there were any blockages later , and how your stress tests results are now . If you smoke or have other health conditions , such as diabetes , you most likely will be declined for this type of medically underwritten policy . But if you were at an older age when you had your heart surgery , it was effective and not too extensive , there is a good chance that you can get the amount of coverage you desire .


Input: Can I Get Life Insurance After Open Heart Surgery?

Output: That is an excellent question ! Yes , you can . And depending upon how long ago your surgery was , and how complication free you have been since , it should not prevent you from finding a good , affordable policy . If it has been more recent , you may find that the policies are more expensive , and come with a period called a `` grade '' that reduces your death benefit during that grade period . Your best bet is to find an agent who will look into finding you a policy that is right for you . If you would like to contact me , I 'd be glad to help . Thanks for asking !


Input: Can I Get Life Insurance After Open Heart Surgery?

Output: Yes , you can ! I have done it for people . Heres a quick testimonial : a man contacted me who needed life insurance to indemnify a business loan . He had had open heart surgery several years before , and was having a really tough time getting an offer . I developed a portfolio of quote information about him , and went to market on his behalf . It didnt take too long to find out what the chief obstacle for him was : inconsistent follow-ups . The surgery had taken place in another state , and there he had a cardiologist he liked . However , he had since moved , and had not yet found a replacement physician . So he didnt bother to get a follow up . No underwriter in his right mind could make an offer without knowing his current status . I was able to persuade him that I had a good chance of getting an offer if he had good follow-ups . -LRB- Of course , from a medical point of view , he should have had follow-ups anyway . -RRB- He went ahead and connected with a local cardiologist , and had all the necessary testing done . The results were good enough to get him a decent offer , and his business loan came through . A happy ending .


Input: Can I Get Life Insurance After Open Heart Surgery?

Output: After heart surgery , yes you can get life insurance . To start , there are what we call guaranteed issue policies which can give you a basic burial policy . A big question is what kind of surgery was it ? If you just had a stint put in , and it was about a year or more ago , you can apply for Life Insurance . If the surgery was more serious , then you may have to stick with a guaranteed issue . The more time that passes without incident from the surgery , the better chances you have of getting a policy . Keep in mind , the premium will be higher than if you did not have a surgery . I would contact your broker , fill out a questionnaire and see what your options are .


Input: How Much Are Life Insurance Rates?

Output: Life insurance rates will vary widely depending on several factors : age , gender , amount of coverage , length of coverage and health rating . There are different types of policies depending on your needs , such as term insurance , whole life and universal life . Rates may range from a few dollars a month to thousands per month depending on your situation and what you want to accomplish with insurance . Discuss your situation with a knowledgeable independent advisor who can help you navigate the many options .


Input: How Much Are Life Insurance Rates?

Output: There are two sets of rates for the cost of insurance : current company practice and contractual guarantees . Contractual guarantees hedge the current company pricing practices in case they miscalculate their assumptions . Both of those sets of rates are dependent upon the life insurance companys actuarial assessment of life expectancy and their profitability targets . Life expectancy is based on gender , age , health condition and lifestyle behaviors like motor vehicle violations , recreational activities and hazardous vocations .


Input: How Much Are Life Insurance Rates?

Output: Life insurance rates are determined by several factors , such as your age , sex , and health status . What you first need to decide is which type of life insurance works the best for you . Some of the most common options are : Whole life , Term life , and Universal life . Rates will also vary based on which insurance company you decide to go with . I recommend getting a life policy with a company that you know and trust , since you will probably be keeping the policy for several years .


Input: How Much Are Life Insurance Rates?

Output: Life insurance rates are calculated as a certain cost per thousand dollars of life insurance . E.g. . If the factor is $ 1.00 per thousand , a person could get $ 100,000 of life insurance for $ 500 per year , plus an annual fee . The cost per thousand varies greatly between smokers and nonsmokers , young and old , short terms and long terms , and the health rating for which the applicant qualifies .


Input: How To Get Cash Value Of Life Insurance?

Output: To find out how much cash value is in your life insurance policy , you can order a current illustration from your agent , or directly from the life insurance company from which your policy is issued . If you want to literally get the cash value from your life insurance policy , you can borrow from your policy , or you could surrender your policy . Taking a loan against your policy will keep the death benefit intact , as long as you follow the guidelines . If you surrender your policy , you will get all the available cash value , but you will also lose your death benefit protection . It is always a good idea to cover the options with a qualified agent in taking this step . Even if your original agent is no longer around , you can enlist another agent to explain your options and help you avoid some costly mistakes .


Input: How To Get Cash Value Of Life Insurance?

Output: There are a few ways to get your money from whole Life . Of course , you can surrender your policy and get its full cash value , but then you would have no life insurance , so this is not recommended . You can borrow against your policy and later pay it back . Or you could borrow against it , never pay it back , keep the money tax free , but lower your death benefit by that amount . A capable agent can review with you all the options and also the best policies to buy to give you these options . New York Life even provides a way of retiring on a pension , with your life insurance policy . Gary Lane , Agent , New York Life , 949 797 2424 . Please Call me . Thank you .


Input: When Does Medicare Part D Start?

Output: You must enroll in Part D when you turn 65 or qualify for Medicare . You have the three months before , the month of , and three months after you turn 65 to enroll in a plan . The plans are administered through private insurance companies under the supervision of Medicare . If you fail to enroll when you are eligible you will be penalized by Medicare for each month you do not have creditable coverage . You may enroll in a plan or change your plan each year from October 15th through December 7th .


Input: Why Do I Need Universal Life Insurance?

Output: You may not need Universal Life Insurance . If you have a temporary need and want a large policy for the lowest possible price , Term Life Insurance would probably work best . If you want a small final expense policy , Whole Life is easiest to get , and comes in the smallest face amounts . Where you may choose Universal Life is if you want a low cost permanent product of a substantial face amount but with little to no cash value -LRB- GUL -RRB- , or if you want to use your life insurance as a type of investment along with death benefit -LRB- VUL or IUL -RRB- .


Input: Why Do I Need Universal Life Insurance?

Output: You do not need any particular life insurance product . You need to establish your financial profile , risk tolerance and economic goals . If universal life is to be part of that based on product suitability , then so be it . There are four types of universal life products : current assumption , index , variable and guaranteed universal life . The first three should be explored for tax advantaged , supplemental retirement income scenarios and the last one for permanent coverage to indemnify your beneficiaries .


Input: Why Do I Need Universal Life Insurance?

Output: Universal Life is a unique product . The advantages of a Universal Life Policy are : Flexible Premiums , you can put more into the policy to act as a savings and enhance cash accumulation . You can skip payments as long as there is enough in the cash value to continue the insurance . You can decrease the face amount or increase the face amount -LRB- as long as your health qualifies -RRB- . It has a competitive interest rate . It is a good way to get a lot of insurance for a lower premium than whole Life . The disadvantages : It must be funded properly . Because you can skip or put less into the policy than the Target Premium , the policy could lose its death benefit . Picture a bucket of money . The bucket has a hole in it and it is dripping . If the water -LRB- money -RRB- going into the bucket is greater than the water going out of the bucket , you are OK . But if you do not have enough going into the bucket and it is draining faster than being filled , then the water will eventually run out . When that happens the insurance will cease . Universal Life is a good product , but not for everyone .


Input: Why Do I Need Universal Life Insurance?

Output: Simply put , term life insurance , whole-life life insurance , universal life insurance and annuities etc. are very important things to think about to protect your financial future . Generally , speaking the best time to think about these products is when you are talking to a licensed insurance agent and you can think them over together . All of these products , or a combination of these products , may suit your individual needs . I work for a few companies that offer high-cash value products that can be used for various business ventures or personal wealth-building opportunities , if set up properly . Therefore , when considering any of these insurance products it is usually best to meet with an agent so they can help you figure out which products you need , can afford and find out if you qualify for them .


Input: Why Do I Need Universal Life Insurance?

Output: Why do I need a universal life insurance policy ? Usually because you want a stable premium and can not afford a true whole life product to insure yourself . You are looking for a longer period of time to be covered than a term policy can offer . I would hope that if a person chooses UL , that they choose guaranteed universal life as that guarantee makes a UL a more stable product .


Input: Can A 65 Year Old Get Term Life Insurance?

Output: Yes . A 65 year old still qualifies for 10 year term ,15 year term , 20 year term , and 25 year term lengths . There are multiple carriers that will write 10 , 15 , and 20 year options and I know one carrier that will go up to a 25 year term .


Input: Can A 65 Year Old Get Term Life Insurance?

Output: Yes , a 65 year old can get term life insurance . Some policies are pure term , others are a hybrid of term and universal life so they can be extended . You can also get universal life with the premium locked in for a certain number of years . If you pick term insurance , be sure that you do not need the coverage past the years in the term , because it will be difficult to get a new policy after that term ends .


Input: Can A 65 Year Old Get Term Life Insurance?

Output: Yes , as long as the health is still good a 65 year old can still purchase term life insurance . There are still several life insurance companies that will underwrite up to an 80 year old for term life for a higher premium and good health . As Peggy mentioned also to consider looking at a term and UL hybrid policy at age 65 .


Input: What Type Of Life Insurance Is Best For Me?

Output: Determining product suitability is a process that includes risk assessment , financial goals and establishing a timeline based on life expectancy . Once this discovery process determines the potential policy owners needs and financial profile then you can purchase life insurance based on you needs and product suitability .


Input: What Type Of Life Insurance Is Best For Me?

Output: If you have a temporary need , Term Life Insurance may be best . If you want life insurance to cover your final expenses associated with funeral , Permanent Life is usually best . If you want to use Life Insurance for business purposes , you can use Term to cover key employees , or you can use Permanent to create a business succession plan with liquidity , or many other options for many other business purposes . If you have a serious health problem , your choices will be limited . If you can get one that is not graded , that will be best for you . If not , then the best one is the one you can get .


Input: Does Life Insurance Know If You Smoke?

Output: When you apply for life insurance , the insurance company will ask about smoking on the application . If you take a No Exam policy , they will ask you about smoking in the phone interview . And if you are applying for a medically underwritten policy , they will test for nicotine in your blood and/or urine . If medical records are ordered and a history of smoking is noted in your medical records , they will take that into consideration , as well .


Input: Does Life Insurance Know If You Smoke?

Output: It depends , who else knows that you smoke ? Does your doctor ? Does your health insurance plan ? Auto Insurance ? If there is a written record of you smoking it more than probable that it will be inside the MIB -LRB- Medical information Bureau -RRB- and it will come up during the underwriting phase . There 's the MIB and your doctor 's chart notes that would be reviewed . Also depending on your state where they do n't apply the contestability rules towards smoking . My state for example waives the two year contestability clause specifically for not declaring if a insured is a smoker or not . What that means is premium paid is returned and no contract was created .


Input: Does Life Insurance Know If You Smoke?

Output: The life insurance company will definitely know if you smoke because that is something you disclose to them . To fail to do so would amount to insurance fraud which is subject to fines and possible imprisonment . When applying for life insurance you want to get the best rate that you actually qualify for . Do not get a policy by withholding or falseifing information . You will not often come out ahead . If you have an agent ever tell you to sign an application that has known wrong information , you should report the agent to your state 's department of insurance . He is putting your financial security at risk by trying to make a quick and easy sale .


Input: Does Life Insurance Know If You Smoke?

Output: If you begin smoking after the policy is issued then the answer is no . Most companies have a question on the application regarding smoking and depending on the policy you are purchasing they may require a blood urine or saliva test and will check for smoking before issuing a policy . If you lie an an application and you die within two years and the company finds out then your policy will not pay the death benefit . This is considered insurance fraud .


Input: How To Get Health Insurance As A College Student?

Output: First , check with your college 's office of student affairs or administration and see if they have a student health insurance plan . Due to the requirements of ObamaCare many of these plans have been cancelled or are being phased out but some do still exist . Next , you can be covered as a dependent on your parent 's health insurance policy until age 26 so if you have recently lost or will be losing coverage when you start school you could possibly be added onto their plan . Regarding true major medical individual health insurance you are pretty well locked out until the next open enrollment period starting on November 15th and the earliest you could be covered would be January 1 , 2015 . This is unless you have what is called a change of life status event -LRB- marriage , divorce , child birth or adoption , losing other coverage -RRB- in which case you have a 60-day time frame to apply for individual health insurance coverage . If you are in good health and coverage for any pre-existing health conditions is not a major concern for you then the best solution for immediate coverage would be to apply for a short term medical insurance policy . These policies are pretty affordable and depending upon the insurance carrier they may issue a policy that runs for a period just short of one year and you can often reapply for coverage . If you reside in Tennessee , Arkansas or Mississippi contact me and I 'll be happy to help you out with this . If you reside in another state seek out a health insurance broker or go online and do a search for Short Term Medical . Assurant Health and United Healthcare/Golden Rule have pretty good short term policies and , of course , you would want to check with the Blue Cross/Blue Shield plan in your state . Other than Medicaid that pretty well sums up your options as a student .


Input: How Much Does Renters Liability Insurance Cost?

Output: Renters insurance is typically one of the lowest cost insurances out there . Most renter will pay from $ 7/mo or up . The best thing to do is to have your auto and renters insurance with the same company . Most companies will offer you a discount by having both policies with them and in some cases the discount makes the renters insurance nearly free . Call your local agent today to find out what is available in your area and how affordable the coverage is .


Input: How To Be Medicare Certified?

Output: When yuo speak of being `` medicare certified '' you are usually speaking of the fact that there are two classes of medicare sales people-those that sell medicare selling that is unregulated by the Centers for Medicare and Medicaid Services vs. those that do sell Medicare advantage . To be `` medicare certified '' you have to take the AHIP exam -LRB- American Health Insurance Portablity Act -RRB- . It is both time consuming and expensive . This year when I finally completed the certification I had 24 hours invested in just the recertification . Then CMS regulates Medicare Advantage sales people like we are crooks whereas the Medicare Supplement sales people are allowed to go unregulated . I assume you realize you have to have a valid insurance license for theState you reside in .


Input: Is Water Heater Damage Covered By Homeowners Insurance?

Output: Some water damage is covered , while others are not . If the water damage is the result of a burst water pipe in your house then the policy will probably cover repairs . If the source of the water is outside your home , as in a flood , coverage is excluded unless you have a flood policy . If the source of water is a back-up in the sewer it can be covered in your homeowners policy if you purchase the appropriate additional coverage .


Input: Are Life Insurance Proceeds Protected From Creditors In Indiana?

Output: When a beneficiary in Indiana collects the death benefit from a life insurance policy upon the death of the insured person , the life insurance proceeds are protected from creditors in Indiana . Creditors could go after the life insurance proceeds if the beneficiary was a co-signer to the debts of the Insured . They could also collect on the life insurance money if the beneficiary was left to the estate .


Input: What Does The Medicare Suffix T Mean?

Output: The Medicare suffix T means that the person is entitled to Medicare Part A but not to retirement and survivor 's or Railroad Retirement insurance . It also applies to those who are entitled to receive Part A for having end stage renal disease .


Input: Why Should I Open A Roth IRA?

Output: Any step made to accumulate money for retirement is a step in the right direction . The money accumulated in a Roth IRA can be withdrawn after 5 years income tax free and without the additional 10 % penalty tax if you are over 59.5 years old , have become disabled or are using the money for a first time home purchase . Additional advantages of a Roth IRA are that there will not be a minimum distribution required when you reach age 70.5 , and there are superior estate tax opportunities .


Input: Why Should I Open A Roth IRA?

Output: That is a great question ! There are several reasons why opening a Roth makes sense . The first is that the minimum distribution and withdrawal requirements are much less strict than in traditional IRA 's , and can have beneficiaries to receive the balances when you pass . This type of IRA will allow you to take money out without penalties under the right circumstances where a traditional IRA wo n't . They are also great to have because they are not taxable income when you do start taking cash from them . The funding for your Roth is done after-tax , and the earnings are also tax favored , making this a great investment vehicle . I hope that helps , thanks for asking !


Input: Does My Small Business Have To Offer Health Insurance?

Output: No . The employer mandate provisions of the Affordable Care Act -LRB- ObamaCare -RRB- apply to employers with 50 or more full-time/full-time equivalent employees . So , if your company has 20 full time employees and 6 part-time employees that probably translates into the equivalent of 23 full time employees and places you well below the threshold where you have to provide employee health insurance or be subject to the employer mandate tax penalty . If you need to attract and retain quality employees and reduce turnover then it may well be in your self interest as a small business to offer group health insurance to your employees . However , with the introduction of the Affordable Care Act 's health insurance marketplaces and premium tax subsidies to help persons between 100 % and 400 % of the Federal Poverty Level purchase individual health insurance the small business owner 's decision in this regard is more complicated now . If your workforce is largely lower income and you are asking or would be asking your employees to pay a significant portion of the cost of group health insurance it is possible you are actually doing your employees and their dependents a disservice by providing group health insurance as this effectively blocks them from purchasing subsidized individual health insurance in the government health insurance marketplaces . There is some analysis required and business philosophy decisions to be made by the small business owner in making the decision as to whether offering group health insurance is the best course of action in todays environment . You should seek out the services of an experienced health insurance broker who is well educated on the Affordable Care Act to help you make this decision . I am a 30 year industry veteran and Chartered Benefit Consultant , if I can be of assistance to you in this matter please feel free to contact me .


Input: How Does Medigap Work?

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


Input: Is Medicare Supplemental Insurance Worth It?

Output: Medicare supplemental insurance can be a financial lifeline for most people . Medicare Part A and Part B only cover about 80 % of approved charges . This can leave you owing many thousands of dollars and there is no cap on your out of pocket . Medicare supplemental insurance plans allow you to decide how much risk you are willing to accept . The most popular plans will reduce your financial obligation to less than $ 500 per year .


Input: What Does Legal Expenses Cover On Home Insurance?

Output: In most policies this is a promise by the insurance company to pay up to the limit in the policy any amount of money for which you are liable because of bodily injury or property damage . There are limitations on this coverage and you should check your policy and confirm things with your agent . This coverage includes legal defense .