Input: What Is The Difference Between Term Life And Universal Life Insurance?

Output: Some differences between Term and Universal Life are : 1 -RRB- Term rates are locked in for a set number of years . Universal life rates may be locked in for life -LRB- but not always -RRB- . 2 -RRB- Term rates are based on cost of insurance . Universal Life rates are based on costs of insurance and interest rates . 3 -RRB- Term rates must be paid within at least two months of the due date , or the policy will lapse . Universal rates may possibly be paid by cash value within the policy -LRB- but not always -RRB- . 4 -RRB- Term policies do not have any cash value . Universal Life policies may have cash value -LRB- but not always -RRB- . 5 -RRB- Term policies are pretty inflexible . Universal Life policies have much more flexibility .


Input: Is Hurricane Damage Covered In Home Insurance?

Output: It depends on where you live and the type of policy you have . In certain states you have to purchase separate Wind/Hail coverage so hurricane coverage is not included . In Virginia , wind/hail coverage is included in most policies unless you live near the coast . Coastal policies typically excluded wind/hail coverage or they will have a separate deductible . For example , you may have a $ 1,000 standard deductible but a 1 % - 5 % named storm or hurricane deductible . A percentage deductible is a big difference so make sure you are aware of what your policy includes .


Input: What Is The Weight Limit For Health Insurance?

Output: Under the Afforable Care Act , you can not be declined for health insurance due to a pre-existing condition or other health-related issue including being overweight . You have the option to secure a bronze , silver , gold , or platinum level plan - please note , not every carrier offers a plan under each level -LRB- e.g. company XYZ may only offer bronze , silver , and gold plans , but not platinum plans -RRB- . Individuals under age 30 also have the option of securing a catastrophic plan . If you qualify for a subsidy , you would want to look into plans ON the health insurance exchanges . If you do n't qualify for one , you may want to look into plans OFF the exchanges as you will generally have more options available to you . I always recommend consulting with an experienced broker if you 're looking for coverage or want to review your existing insurance to see if a better option is available . We have an in-depth knowledge of products from many different carriers and can help you determine the plan that 's going to best serve your needs and your budget . Please let me know if I can be of further assistance . Thanks very much .


Input: What Is Basis In Retirement Plan?

Output: Since a tax qualified plan defers taxation until money is withdrawn there is no cost basis . Or to put it another way the basis is $ 0 . All funds coming out will be taxed as ordinary income when received . If funds are rolled over to an IRA those funds when received will be taxed as ordinary income .


Input: What Is Basis In Retirement Plan?

Output: The term `` basis '' means the sum of your personal after tax contributions . If you have basis in an existing pension plan you will receive your basis back income tax free . You will only be taxed on pre-tax contributions and the interest earned . Poeple who have a non-contributory retirement plan do not have any basis in the plan .


Input: Can I Get Life Insurance For My Parents?

Output: You can get a small amount of life insurance for your parents for final expense needs . If you want a larger amount , you would need to show that you share a financial relationship with them , and would suffer financially from their deaths . E.g. . If you live with them or they live with you .


Input: Can I Get Life Insurance For My Parents?

Output: Yes , but it depends on the circumstances as to why you would need to purchase life insurance on your parents . If you would be financially responsible to pay for their final expenses at their deaths , certainly yes . You would be able to purchase enough life insurance to cover those expenses with their knowledge and permission . If you are financially dependent upon their income then yes you could purchase a policy with their knowledge and permission . If the reason is just pure financial gain then no you would not be able to purchase life insurance with or without their permission .


Input: Can I Get Life Insurance For My Parents?

Output: Yes you can get life insurance for your parents . You will need their permission to insure them , but since you would have insurable interest you can take out and own a policy . Note : In Canada , when you transfer ownership there is usually a deemed disposition . In other words a taxable gain is triggered . This does not apply in certain family situations . Which creates a planning opportunity for generational wealth transfer . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community .


Input: Can I Get Life Insurance For My Parents?

Output: Two parts to the yes on this questions . First is you need to let them know you are going to do that and get their permission . Second is , apart from final funeral expense coverage , you would have to show an insurable interest , meaning some financial dependence upon them . If , for example , they are paying you each month , or lending you money , that would be an insurable interest . If you have no relationship with them , then you could not get a policy on them , but they could get a policy on themselves to benefit you . This would , of course , in any event , depend upon their own insurability , meaning mostly their own health . Thank you . GARY LANE .


Input: What Insurance Companies Can I Get For Under $200 Or Less?

Output: It is not the insurance company that will determine if you can get a policy under $ 200 . It is your age , health , the type of policy you get , and the face amount of the policy . Visit one of the websites on this site that offers `` instant quotes '' , and input some different face amounts and policy types to see if you can find one with a premium that low . Then call that website to confirm if you qualify for it . Sometimes we have even lower priced options that are too hard to plug into a quote engine . If you get the right agent , it will always be to your advantage to talk to them and let them shop for you .


Input: How To Write A Letter To Cancel Auto Insurance?

Output: That is a great question ! Basically all that you will need to do is write a note that tells them that you would like to cancel the insurance that you have with them , policy #xxxxxxx , effective as of whatever date that you would like for it to end , and sign and date it . You will also want to make sure that you are paid up through that date , and that they do n't owe you money for excess premium paid . I hope that it is safe to assume that you have found other coverage before you do that . Take a look at your policy , or call your agent , just to be certain that there is n't a 30 day notice required , okay ? Thanks for asking !


Input: Why Should You Plan For Retirement?

Output: Actually there arent a lot of people who do plan for retirement . Retirement is coming whether you plan for it or not . Many people , through lack of planning , can not afford to retire so they work until they can not work any longer . Rather than enjoying their golden years , they struggle to stay gainfully employed when the market place doesnt value them very much . Finally , they become dependent . They must depend on relatives or the state . No , you dont need to plan ; you can be overwhelmed by it later .


Input: Why Should You Plan For Retirement?

Output: Retirement can thought of as a time of change . It is more than your job and paycheck stopping or the selling of your company . Retirement It is a event or at the very least transition . What happens if you do not plan and simply fly by the seat of your pants ? You probably will have income problems or end up paying more tax because of the lack of planning . There is of course the non monetary side . What are you going to do with the rest of you life after `` retirement ? . No plan then you may not like how things turn out . If you have more questions you can contact me . Start with my web site www.jpw.ca if you prefer .


Input: When Is A Retirement Plan Top Heavy?

Output: A top-heavy plan is one that benefits company officers , owners , employee shareholders , etc. and/or key employees . If a qualified plan becomes top-heavy , there are top heavy tests that ensure the other employees receive fair to equal treatment with similar benefits under the plan . In general , the basic definition of a top heavy defined contribution plan is when total account balances of key employees exceed 60 % of the total retirement accounts .


Input: Who Regulates Long Term Care Insurance?

Output: The State Departments of Insurance -LRB- DOI -RRB- regulate and oversee long-term care insurance sold and administered in each state . The General Accounting Office of the federal government -LRB- GAO -RRB- works in concert with the National Association of Insurance Commissioners -LRB- NAIC -RRB- to monitor the activities of the State DOI , and audit their work as it relates to payment of claims by individual insurance carriers , rate changes and approvals , and sales practices . In 2008 , the GAO released a report `` State Oversight of Rate Setting and Claims Settlement Practices '' involving 10 sample states on the topicand reported the following : `` Regulators in the 10 states GAO reviewed oversee claims settlement practices by monitoring consumer complaints and conducting examinations in an effort to ensure that companies are complying with standards . Claims settlement standards in these states largely focus on timely investigation and payment of claims and prompt communication with consumers , but the standards adopted and how states define timeliness vary notably across the states . Regulators told GAO that reviewing consumer complaints is one of the primary methods for monitoring companies compliance with state standards . In addition to monitoring complaints , these regulators also said that they use examinations of company practices to identify any violations in standards that may require further action . Finally , state regulators in 6 of the 10 states in GAOs review reported that their states are considering additional protections related to claims settlement . For example , regulators in several states said that their states were considering an independent review process for consumers appealing claims denials . Such an addition may be useful as some regulators said that they lack authority to resolve complaints where , for example , the company and consumer disagree on a factual matter , such as a consumers eligibility for benefits . '' Each state has a DOI website which includes a subsection on long-term care insurance sold in that state . Their Internet addresses are usually something like www.insurance . -LSB- abbreviation of state , like ` AZ ' -RSB- . gov.They can also be googled '' -LSB- Name of state -RSB- State Department of Insurance '' .


Input: What Does Cash Value Mean On Life Insurance?

Output: A permanent life insurance policy is where you will find cash value . In your policy it is often called a non-forfeiture value . The permanent policy is designed to offer a death benefit throughout life for a set premium . While not all policies guarantee the premium the policy premium includes money that is accumulating to offset the death benefit as the age of the insured increases . At any time that there is cash value in the policy the company is willing to give you that cash value in exchange for taking away their responsibility to pay the death claim .


Input: What Does Cash Value Mean On Life Insurance?

Output: Cash value on a life insurance policy is the amount that the policy would be worth if it were cancelled at the point that the cash value was determined . Every carrier and policy is different . The cash value may still be subject to some fees or other charges when the policy is terminated . To know all of the coverages and exclusions afforded under the policy you should read it completely or contact your local agent to have them go over the policy with you .


Input: What Does Cash Value Mean On Life Insurance?

Output: Permanent forms of cash value life can accumulate cash via premiums and credited earnings from interest rates , indices or equity and bond instruments in separate sub accounts offerings . Permanent forms of cash value life insurance are participating whole life , current assumption universal life , indexed universal life and variable universal life .


Input: What Does Cash Value Mean On Life Insurance?

Output: That is a great question ! Simply put , there are two values to your whole life policy - the face value , or death benefit , which is what the policy would pay should you pass -LRB- minus fees or loans -RRB- , and the cash value . The cash value is the amount of money that accumulates within the policy as it grows . This is the amount that you can borrow from , or the amount -LRB- minus loans or fees -RRB- that the company would pay out to you should you surrender the policy . There is no cash value in a term life policy . I hope that helps - thanks for asking !


Input: What Does Cash Value Mean On Life Insurance?

Output: When you have whole life insurance it is designed so that you are building more and more cash in it each year . When a whole-life policy gets to maturity -LRB- called the endowment year -RRB- you are actually self insured . Your cash value is the same as your death benefit at that point . You can use the cash value while you are living by giving yourself low-interest loans against the cash value of your policy . You are not required to pay these loans back if you do n't want to since the cash in your policy is what guarantees the loans . The cash value is not in addition to your death benefit , it actually is part of the death benefit on whole-life policies . The remainder -LRB- cash value subtracted from the death benefit -RRB- is the remaining insured amount .


Input: What Does Cash Value Mean On Life Insurance?

Output: That is a great question ! One of the best things about whole life insurance is that as you pay into the policy , the cash begins to pile up in it , and is there in the event that you need to borrow from it . It is different from the surrender value , which is the amount that you would receive were you to surrender the policy . I hope that helps , thanks for asking !


Input: What Does Cash Value Mean On Life Insurance?

Output: A permanent life insurance policy has two elements , the cost of insurance in a given year , and an accumulation fund to reduce the impact of increased premiums for insurance as you get older . The company will give you the accumulated amount as cash value anytime you are willing to stop holding them to their promise to pay the death benefit .


Input: Can Life Insurance Proceeds Be Garnished?

Output: While I am not an attorney and can not speak for every situation , in most cases life insurance proceeds are protect from creditors and probate.There may be some situations that could result in garnishment however in most cases the answer would be no . Check with your attorney to verify your particular situation .


Input: Does Aflac Offer Disability Insurance?

Output: To the best of my knowledge AFLAC does not offer a true disability policy . There policies are primarily supplemental , designed to pay in addition to any other coverage you may have . These policies are very good but are more limited than a true disability policy You might consider a combination of both disability insurance and a supplement to help pay for any elimination period or extra bills and lost wages you may incur .


Input: Does Aflac Offer Disability Insurance?

Output: Yes , AFLAC does have disability insurance in their portfolio of supplementary insurance products . Most commonly people are offered AFLAC coverage through their place of employment though consumers can go directly to AFLAC for coverage . There are two types of disability insurance ; Short Term and Long Term Disability . The general industry standard is that a short term disability plan pays benefits for up to 6-months and long term policies cover much longer periods of disability . AFLAC takes more of a hybrid approach in their disability product that gives an individual options that can extend beyond the time period normally associated with short term disability policies but at the same time not going as far as most long term disability policies will cover . Disability insurance can be very important as we have about a 1 out 3 chance of being disabled for some period during our working years . However , not all disability insurance policies are created equal or offer the same value propositions . The convenience of buying at the workplace and paying through payroll deduction can be very attractive , this is no guarantee though that it is really the best fit for your individual needs . If you are serious about insuring your paycheck you would be well served to explore both AFLAC and other options you can obtain in the marketplace . Also , just because your employer allows an AFLAC agent to come into your workplace and sell you insurance does n't mean that your employer has gone through any process of determining if these products are a good value for you . The reason is that you are paying for it with your money so it 's a `` let the buyer beware '' situation and is totally different than the process your employer goes through when looking for group health insurance for their employees . In that case the employer is financially involved and they go through an extensive shopping and comparison process before deciding on the best health insurance option to offer their employees . This is not to say that AFLAC does not have good products or that they have n't helped many customers over the years - they have . But , at the same time , massive advertising and branding campaigns combined with very aggressive sales tactics are no guarantee of being the best value .


Input: How Do Fixed Annuity Companies Make Money?

Output: Companies which offer Fixed Annuities & Fixed Indexed Annuities make money in several different strategies depending on the product . Some annuities have caps . The company will make money from interest earned over the cap . Other annuity products have spreads or fees meaning they will take a % which is set at the time the contract is taken . Others will have participation rates meaning you participate or get a % of the interest which was earned . There are a few other ways as well . if you have a specific question about an annuity you are looking at , do not hesitate to call your Broker or reach out to me .


Input: Can I Buy Auto Insurance Without Owning A Car?

Output: It would be different for every state . In Michigan we have something called Non-Owner coverage . This would be the coverage you would need if you did not own a vehicle and it covers your liability when you 're driving someone else 's vehicle . However , the vehicle that you are driving would still need to have current registration and current insurance on it by the owner of the vehicle for your non-owner coverage to be valid .


Input: What Is Enhanced Annuities?

Output: Enhanced annuities are lifetime annuities that pay a higher than normal income to annuity holders because the the annuitants have poor health . Because the annuitants have lower life expectancies , their annuities are able to pay them more each month , as it is anticipated that the monthly payments will not reasonably last as long as for those in good health .


Input: Does Health Insurance Cover Flu Shots?

Output: The Affordable Care Act -LRB- Obamacare -RRB- mandated many preventive benefits for adults and children , including flu shots . Typically , any deductible , copay or coinsurance is waived for qualified preventive benefits . This would apply to both individual and group medical plans . Before getting the shot , however , it is wise to quickly consult your agent/broker to verify your benefits for the specific shot you are receiving . If you do not currently have health insurance , you can easily and quickly purchase a plan from an experienced broker or a reputable health insurance website that offers free online quotes with no obligation . Exchange plans will not require any medical questions to be answered .


Input: Does Health Insurance Cover Flu Shots?

Output: Most health insurance plans will cover preventive care , including flu shots . Some plans will have restrictions on immunizations and will only cover these shots if you are under age 6 . Optional immunizations for older children and adults may not be covered by your plan . Many plans will cover flu shots if you are in a high risk group . High risk individuals include children , elderly and those with compromised immune systems .


Input: Is Renters Insurance Legally Required?

Output: Under an individual lease or rental agreement it could be required by the landlord which would make it legally required . As of today and to the best of my knowledge there are not any state or federal regulations on the books or in the works that require a person to renters insurance . Always contact a local agent to find out more about the requirements within your geographic location .


Input: What Medicare Prescription Drug Plan Is Best?

Output: There is no universal `` best '' Part D prescription drug plan . You do want a plan though that `` best '' suits your needs and objectives . For instance , you want a plan that will provide coverage for prescription drugs that you are already taking , or might be expecting to take due to a condition you currently have . You can check this easily on the Medicare.gov website - Find health & drug plans , which will check a plan formulary -LRB- list of covered drugs -RRB- for you . You may also want a plan that uses a pharmacy network convenient for you , and a plan that optimally meets your budget and planned usage needs . While Medicare.gov provides the information and ability to enroll online , you may be better served to get assistance from a licensed insurance agent authorized to sell Part D plans .


Input: Does Home Insurance Cover Drainage?

Output: Home insurance covers damages . An all risk homeowners policy covers many perils , however it specifically excludes some . Among these exclusions in most policies is earth movement and intrusion of water from outside the residence . Homeowners insurance does not cover wear and tear to any component of the house , including the drainage . For example , if a drainage pipe were damaged in a fire , it would be covered . If the same pipe failed , it probably would not be covered . Incidentally the damage caused by the failed drainage pipe might be covered .


Input: Can A Child Get Life Insurance For A Parent?

Output: Can a child get life insurance for an adult ? It will depend on the age of the child as an insurance contract requirestheowner of the policy be of legal age . If younger than 18 or without court recognitionmaking the minor able to contract as an adult , it wouldnot be allowed . Of legal age and with the consent of the parent who will be the insured , not a problem .


Input: Can A Child Get Life Insurance For A Parent?

Output: Yes , a child can get life insurance for a parent . The parent must sign the application and do the exam , if an exam is required . If there is no exam required , the application process often involves a phone interview , and the parent must be able to answer the interview questions on their own . If you support your parent in any way , you can get a policy to help reimburse you after your parent passes . If you do not financially support your parent , you are still eligible to get your parent a small final expense policy . Contact an online final expense life insurance agency to get prices and types of policies available . It is a great thing you are doing ; all the best to you and your parent .


Input: Why Does Health Insurance Go Up?

Output: Health insurance premiums are driven by claims . When medical claims increase due to inflation and utilization premiums must also rise accordingly . Your health insurance premiums can not be adjusted simply because of your own claims but rather for claims of your assigned group . Under Obamacare health insurance premiums will rise dramatically due to the new mandated coverages .


Input: How Can I Save Money For Retirement?

Output: That is an excellent question ! There are several really good ways to start your retirement planning , and I will tell you that the sooner you start , the easier it is . If your employer offers a retirement plan where they will match your contribution , or match a percentage , do it ! They are giving you `` free '' money . If they offer an HSA -LRB- Health savings Account -RRB- , contribute to that also.By contributing regularly and often to these accounts , you will have a good start to having an affordable retirement . There are definitely other things that you could do , and it would require far more conversation and space than we have here . If you would like more information , feel free to contact me , ok ? Thanks for asking !


Input: How Can I Save Money For Retirement?

Output: You can not save for retirement without shifting some of your current income into savings . Many equate retirement planning with stock picking . In reality it is all about asset shifting . Participate in your employer sponsored retirement program , if available . If there are any programs that match your contributions save the maximum amount that will be matched . Then start a maximum contribution IRA if you are less than 40 years old . If you are over 50 start a maximum contribution Roth IRA . Denying yourself a little now is much better than having to deny yourself much when you retire .


Input: How Can I Save Money For Retirement?

Output: The best way to start saving for retirement is to keep it simple . Self discipline is key to long term saving . Always strive to pay yourself first . Most people fail by paying bills and spending first , then try to save what is left at the end of the month . Most people have more month than money with this tactic . Take 10 % -20 % of your weekly pay and set it aside for retirement savings . You will be amazed at how fast it will multiple when you start the investing process . Good luck !


Input: Should I Get Health Insurance Through Work?

Output: Most employers that offer health insurance are offering a group plan . There are rarely any qualifications for the coverage . The premium may be subsidized by your employer but there is normally some savings in the fact that it is group coverage . Your employer will probably deduct the premiums from your paycheck which will reduce your withholding and FICA taxes .


Input: Does Medicare Part A Cover Prescription Drugs?

Output: No , Medicare Part A does not cover prescription drugs unless they are part of inpatient treatment in a hospital or skilled nursing care facility . A limited number of outpatient prescription drugs are covered by Medicare Part B , and most prescribed drugs are covered by Medicare Part D . A Medicare Advantage Plan -LRB- Part C -RRB- also includes prescription drug coverage .


Input: Does Estate Tax Apply To Life Insurance?

Output: Yes , estate tax does apply to life insurance . In 2012 , if the size of your estate -LRB- with life insurance proceeds included -RRB- exceeds $ 5,250,000 , estate tax would have to be paid on the excess at a top rate of 35 % . Some people take care of estate taxes by buying a life insurance policy to pay them . Some use an Irrevocable Life Insurance Trust -LRB- ILIT -RRB- to own and be beneficiary of the policy . There is so much expertise needed in transactions like this that we hire a professional who understands both life insurance and tax strategies for large cases . Make sure you get the best advice possible to help preserve your hard earned estate .


Input: Does Estate Tax Apply To Life Insurance?

Output: That is a great question ! The answer lies in the size of the estate that you will leave behind . If you are leaving less than the 5.25 Million dollar threshold , then you do n't have to worry . I 'd suggest that you consult a good tax attorney , or estate planner , and have them help you set up a plan to avoid it in any event . There are several ways to do that , and those people can help . thank you for asking !


Input: Does Estate Tax Apply To Life Insurance?

Output: The unified credit for married couple exceeds 10 million , so in theory an estate with less than 10 million including life insurance shouldnt pay federal estate taxes . There is still state exposure that could expose the death benefit proceeds to state tax since most states do not use the federal threshold in the unified credit . Consult your tax attorney before moving forward with any purchase or retitling of assets .


Input: Who Is The Insured In A Life Insurance Policy?

Output: The Insured in the life insurance policy is the person whose life is being insured . If the Insured person would pass away , the policy would pay the death benefit to the person or persons named as the beneficiary . The Insured will often own his/her own policy , but the Insured and Owner can be two different people . The Owner gets to choose the beneficiary and make changes to the policy .


Input: Why Is Renters Insurance So Important?

Output: Renters insurance will help protect you and your family from potential financial hardship due to a covered accident that you are deemed responsible for . Without renters insurance if a person visiting you is hurt while at your premise you may be responsible for their medical expenses and other costs . Renters insurance will typically provide personally liability coverage and personal property protection along with some loss of use coverage . Contact a local agent to discuss coverage availability and cost within your geographic location .


Input: What Is The Best Life Insurance Policy To Buy?

Output: The absolute best life insurance policy to buy is the one with the highest face amount at the lowest premium on the day you die . Unfortunately , none of us know what daythat will be . Therefore , contact a trusted life insurance broker to help you find the best product at the best price for YOUR unique situation .


Input: What Is The Best Life Insurance Policy To Buy?

Output: Tough question , because , believe it or not , life insurance is used for a variety of reasons . There are a variety of types and features of insurance policies because everyone 's situation is different . Consider this analogy . If you walk into a local Home Depot and ask the clerk up front what the best tool to buy is , he wo n't be able to give you a specific answer until he asks you a few more questions , like `` What are you trying to build/fix ? '' `` How big is the project ? '' `` What is your desired price range ? '' Life insurance is the same . Before we can direct you down which aisle to look or what tool to grab , we need to know what you are trying to accomplish . So finding a trusted professional in your local area is like finding that very helpful , knowledgeable clerk in the store who will help you confidently make your purchase !


Input: What Is The Best Life Insurance Policy To Buy?

Output: There is no one best life insurance for everyone . Different products are created for different needs , and different companies design products for different types of clients . Even different financial professionals have different impressions about what type of life insurance to get , based on how they see it plugging into your overall portfolio . It sounds confusing , but when you have a conversation with a life insurance agent who is watching out for your best interests , what you need becomes clear . Sometimes your best policy is determined by the limited choices you may have due to your age or health . Sometimes your budget steers you to your best life insurance . This may sound like a vague answer , but that is only because life insurance is designed for different niches . Until I know your need , I can not know how to answer correctly . But once I do know that , you may find choices and prices you never thought possible .


Input: What Is The Best Life Insurance Policy To Buy?

Output: That is a great question , but a really hard one to answer . Without knowing what your specific goals for the policy are , -LRB- income replacement , cash value growth , debt coverage , a legacy to leave behind , or simply covering funeral expenses -RRB- it 's really difficult to give you a specific answer . I 'd tell you this - if you are looking for a policy that will cover your funeral expenses , leave something behind , or to draw money from , look for a whole life policy . If you are looking for short term coverage , say to cover college debt , buy a term life policy . If money is tight , and you are looking to cover expenses and hopefully leave some behind , get a mix of whole and term life policies , to fit your needs and budget . A good agent will walk you through this . If you need help , drop me a line , ok ? Thanks for asking !


Input: What Is The Best Life Insurance Policy To Buy?

Output: What is the best life insurance policy to buy ? The one that fits your needs the best . The best policy is the one that works in your budget so you will continue to make payments and keep the policy in force . The problem for most people buying insurance is the storm of people telling them they 've made the wrong choice . The best policy for you is the one you keep in force and is there when you need it .


Input: What Is The Best Life Insurance Policy To Buy?

Output: The best life insurance policy to buy is the one that best serves the needs you want to have met in the event you passed away . It could be all term insurance , all permanent insurance , or a combination of the two . For example , if you have a mortgage you want paid off , you may want to purchase a term insurance policy with a face amount large enough to cover the remaining balance and long enough to cover it til it 's scheduled to be paid off . So if there 's 18 years left on the mortage , you would want to look at a 20-year term policy . If you 're buying insurance for estate planning purposes , you may want to consider permanent insurance to pay a claim at any point in time regardless of when death occurs . Many people often need a mix of the two . I would recommend consulting with an independent life insurance agent who can work with you on a personal level and help you determine what coverage is appropriate and suitable for your needs and budget and get it placed in force - there 's no cost to using an independent agent -LRB- they do not charge fees for their services -RRB- . I hope the information is helpful - please feel free to contact me for assistance with your life insurance coverage needs , including quotes and life insurance needs analysis , and if you have any other questions . Thanks very much .


Input: What Is The Best Life Insurance Policy To Buy?

Output: There are a variety of life insurance policies that can fulfill indemnification , income and inheritance planning scenarios , but client suitability is the first order of business to establish the product fit for the consumer . You need to establish your personal profile , risk tolerance and economic goals . If your goals are to indemnify you beneficiaries from financial loss , is that exposure temporary or permanent . If your goal is tax advantaged retirement income , is your time line at least 15 years long ? If you define yourself on the basis of risk and reward , then the varying crediting methods need to match your risk tolerance : Par whole life and current assumption universal life use interest rates . Indexed universal life use both domestic and foreign indices . Variable universal life uses separate sub accounts with access to equities and bond instruments .


Input: What Is The Best Life Insurance Policy To Buy?

Output: Life insurance is all about mathematics . With hundreds of years experience and millions of lives the companies know pretty well how many people are going to die out of a certain age group within a 12 month period of time . This is the basis for all life insurance and every policy is an adjustment of this information . The fundamental thing that is being adjusted is the length of coverage and the guarantee that the premium will remain level .


Input: What Info Is Needed For Renters Insurance?

Output: There is an old expression regarding personal insurance : Whatever the coverage remember your really insuring people . The idea is that you can underwrite insurance including renters insurance from such items as amount of insurance , location , prior losses , amount of liability coverage and such , but behind every policy is a person . So , you can expect that most companies today use rating algorithms that include the items mentioned above as insurance score -LRB- a variation of credit scores -RRB- , your age , whether you have vicious dogs , occupation and whether the property will be occupied by you during the day etc. . Typically , it is an inexpensive policy and as such there really is not a lot of money in the commission nor expense factor of the company . What that means is that it is underwritten by class and one policy is not much different than the other . My recommendation to you is to start with your auto insurer . I frequently find the pricing of renters policy nearly all offset by the savings you get from having both with the same company . To give you an example here in the Atlanta area a 25,000 contents renters policy might be $ 150 per year , while the amount of credit for having it with the same company on your auto policy might be as much as $ 125 .


Input: Can I Put My Elderly Parent On My Health Insurance?

Output: No . An elderly parent should be qualified for Medicare . With the affordable options available with Medicare Advantage it really does not make sense to put an older person on your health insurance . Even if you could the premium would be totally unaffordable for most people . A Medicare Advantage plan in most area 's will offer more extensive coverage at a fraction of the cost .


Input: Do Fixed Annuities Have A Death Benefit?

Output: All annuities can designate a beneficiary . Once an annuity starts paying a lifetime income , the option selected will determine if there is any death benefit payable . The basic option is a lifetime income and while this benefit will pay until the annuitant dies , there isnt any benefit for a beneficiary . However , there are options for having the benefit cover the lives of two individuals , or last a specific period of time . These would result in either a continuation of benefits for the beneficiary .


Input: Will Renters Insurance Cover A Trampoline?

Output: Having a trampoline is a liability issue . Most property polices will exclude the use of a trampoline so if you are wanting to own a trampoline I highly suggest you search out an independent agent who can locate you an insurance carrier that would consider the use of a trampoline .


Input: Will Renters Insurance Cover Vandalism?

Output: Vandalism is a common covered peril listed in most property policies including Renters ' . It is always a good idea to discuss your policies terms and conditions with your Insurance Professional in order to better understand your particular coverage benefits and options . That is also a great opportunity to ask about any additional discount benefits available .


Input: Does Home Insurance Cover Injury?

Output: If a homeowner is liable to an injury of another party then under the personal liability section of your homeowners policy there would becoverage Any potential injury needs to be discussed with your agent andinsurancecompany to determine if there iscoveragefor the injury you may have caused .


Input: How To Plan For Retirement In Your 20S?

Output: The day you start working is the day you pay yourself first . Paying yourself first is retirement planning . And what you save to day will determine how you live tomorrow . If your employer sponsors a defined -LRB- tax deductible -RRB- contribution plan like a 401 -LRB- k -RRB- with employer matching contributions , fund it to the match . Take the tax savings and fund a minimum death benefit life insurance - TAMRA compliant policy that has different crediting methods . You need to start thinking about retiring at age 70 , living to age 100 without Social Security .


Input: Can A Person With Lupus Get Life Insurance?

Output: There are two types of Lupus - systemic and non-systemic . Most insurance companies will decline systemic Lupus , but there are several that will accept people with non-systemic Lupus . Often , these plans may be graded , meaning you would n't get the full benefit immediately , but after a few years it would be full value . There are also guaranteed issue insurance plans that can provide some coverage . A licensed broker can help you find a plan that will be the best for your situation .


Input: Can A Person With Lupus Get Life Insurance?

Output: That is a great question . As the fine folks above me have said , your luck at finding a policy may depend upon your Lupus . I really think that finding an experienced independent agent can make the difference for you . An independent agent can shop several companies for you , and find a better fit . The problem for you will lie in the Guaranteed issue policies , if that is the route you end up having to take . Some can be pricey , and the trick is to find the shortest grade with the highest possible return for you during it . If you would like some more help , please contact me , and I 'll make some time to go over this privately with you . Good luck , and thanks for asking !


Input: Can A Person With Lupus Get Life Insurance?

Output: Yes . I have done it . It takes some diligence and finesse . The key is finding an underwriter with a very high comfort level with this condition . The fact of the matter is that different insurance companies have preferences for underwriting different kinds of risks . The distributor I use must have a very strong connections with companies that like to underwrite lupus . Once I have this leverage , I have to make sure that all the quote data I collect is thorough and accurate . If the client is willing to work with me , and go through full disclosure , and cooperate with obtaining medical records , then we can put together a very strong case that you are not only eligible for coverage , but that underwriting guidelines could and should be applied aggressively .


Input: Can A Person With Lupus Get Life Insurance?

Output: Life insurance is based upon the law of large numbers . Hundreds of thousands of people have died with Lupus . From that experience companies can evaluate the effect that Lupus has on individuals . The medical information available to an underwriter will help them categorize the extent of the risk . The company actuary will have determined the statistical risk . In combination a premium can be developed for all but the most extreme risks .


Input: Can A Person With Lupus Get Life Insurance?

Output: An individual with systemic lupus -LRB- SLE -RRB- that has been in remission for an extended period of time can possibly get a table rated policy , depending on their full medical history . This would be a medically underwritten policy , and not graded -LRB- rather , it would pay 100 % of the death benefit from day one for death by any reason except suicide in the first two years -RRB- . If a medically underwritten policy is unavailable , they can get simplified or guaranteed issue life insurance , which would probably be graded in the first few years of the policy . The less common types of lupus -LRB- discoid , drug-induced , and neonatal lupus -RRB- are generally less serious , and can have normal life insurance ratings .


Input: Is Life Insurance Ever Deductible?

Output: Yes , in addition , certain charitable giving situations allow for a tax deduction of the premium paid on the policy as a charitable deduction . For example , you may wish to endow your church for $ 50,000 upon your death . You would make the Church 's 501 -LRB- c -RRB- 3 Charity , the Irrevocable Beneficiary and Owner of your policy and you would be the insured and Payor of the plan . Since you have no interest in the cash value or benefit your premium payments would be considered deductible under the Charitable Giving Deduction on your returns . As always , Insurance agents do not give tax or legal advice , always verify suggestions or comments with your Tax Adviser , CPA or Attorney .


Input: Is Life Insurance Ever Deductible?

Output: No , a personal income tax deduction is not allowed where the taxpayer is the policy owner or beneficiary . A business can not do so either where the business is owner and beneficiary . Business owners who wish to obtain a deduction for their business while obtaining life insurance often do so indirectly through other arrangements that use life insurance such as bonus plans , pension plans or group term life plans . In limited circumstances , one may be able to take a charitable deduction for premium paid on a life policy where the charity is the owner and beneficiary . This is for general planning information only - consult with a tax adviser for tax advice for your situation .


Input: Is Life Insurance Ever Deductible?

Output: Yes . Certain qualified plans , with their inherentdeductability can use whole life insurance and universal life insurance . Doing so will subject the participant to the economic benefit tax , but it may be financially viable . There are specific plans such as 412i and 419af6 death benefit only plans that have taxdeductabilityand can include life insurance .


Input: How To Get Medicare At Age 62?

Output: You can indeed qualify for Medicare at age 62 ... as long as you are totally and permanently disabled under Social Security rules . If you have been disabled and on SSDI for 2 years you qualify for Medicare . If you have ESRD or ALS you can also qualify for SSDI and Medicare at age 62


Input: Is It Ethical To Force People To Have Health Insurance?

Output: Ethics is a big debate on many laws not just health insurance . Unfortunately like so many laws ethics can vary since so many people these days have a different code of ethics . With that being said the law is you must have health insurance or be penalized for not having the coverage .


Input: Is It Ethical To Force People To Have Health Insurance?

Output: You ask a philosophical question in a practical environment . My personal opinion is that it is not ethical to force a person to purchase any product or service . The counterpart to that though is that it is not ethical for someone to expect others to pay their health care expenses . In a perfect world everyone would act responsibly , a part of which is managing life 's risks , one of which is your health care needs , both present and future . As experience has shown us , not everyone acts responsibly and every individual has their own idea on what an acceptable level of risk is for them . A health insurance plan with a $ 10,000 deductible would be of no concern to Bill Gates or Donald Trump , that same degree of financial exposure would be a financial catastrophe for a minimum wage worker . Other people are philosophically opposed to the concept of health insurance and others just do n't have enough regard for their fellow citizens that they feel any guilt about passing their burdens off onto their neighbors . Our society is struggling with this issue and will be for years to come . What you must come to grips with is that as of 2014 you now are in a legalenvironment which does essentially require that you have health insurance . Fortunately , at this time , it is not a criminal offense to not have health insurance and you are only subject to a mild -LRB- but growing over time -RRB- penalty for being uninsured .


Input: How Do I Know How Much Renters Insurance I Need?

Output: Renters Insurance typically provides coverage for personal property/contents and for liability -LRB- including medical payments -RRB- . The higher the liability and medical payments coverage limits you choose , the better . These days lawsuits are all too common and having high liability limits will help protect you . As far as contents/personal property coverage goes ; all of your , `` stuff , '' has value . Add up what you think it is all worth and that amount should be your limit . Let 's say you rent an apartment , imagine flipping the building upside down and shaking it.Everything that falls out of your apartment is what you should assign a value to.This can be an estimate , you do n't need to go overboard searching through receipts . Typical renters policies I issuecontain $ 15,000-30 ,000 of contents/personal property coverage.Of course the values vary drastically depending on if you are for example , a college student or a50 year old CEO who rents .


Input: What Is A Company Retirement Plan?

Output: A company retirement plan can be many things . It may be a matching 401K program or actually a defined benefit plan , which are not as common any more . An experienced full-time financial planner -LRB- NOT a part-timer , inexperienced broker or media personality -RRB- can easily review the best options with you . It 's worth contacting them for a free consultation .


Input: What does it mean when you have a insurance policy that says cash value 8000 and face value 16000?

Output: Generally , whole life and some universal life policies have a cash value as the policy ages . This is the amount of cash available for loan . If you look at a current illustration which can be obtained from the insurance company , you will see that the cash value and surrender value will be the same in later years . The face value is the death benefit which will be paid minus any borrowing of the cash value . If you do decide to borrow , make sure you understand how that will affect the policy and premiums in later years .


Input: What does it mean when you have a insurance policy that says cash value 8000 and face value 16000?

Output: The cash value is the amount of money available for you to borrow from . If you would terminate your policy , this would be approximately the amount of cash value you would receive , minus any surrender charges and fees . The face amount of $ 16,000 is the amount your beneficiary would receive if you would pass away .


Input: What does it mean when you have a insurance policy that says cash value 8000 and face value 16000?

Output: I just want to point out that it is the cash value that allows the company to pay the death benefit regardless of when it occurs . One way you can look at this is that the company has already accumulated half of the death benefit . They are willing to give you half of the death benefit now rather than wait and pay the death claim later . If there wasnt a cash value , there couldnt be a level death benefit for a level premium .


Input: What does it mean when you have a insurance policy that says cash value 8000 and face value 16000?

Output: The face amount of the policy is the monies to be paid out to the beneficiary in the event of the insured 's death during the life of the policy . The cash value inside of the policy is an amount available for the policyowner to borrow from . As per the question , the $ 16,000 is the amount that will be paid to the policy 's beneficiary upon the death of the insured . The $ 8,000 is the cash value - an amount that the policyowner can borrow from while the insured is living . The program at hand is a form of permanent coverage . Permanent life insurance programs have cash value building inside the policies - term insurance does not build cash value . There are two primary types of permanent coverage - universal and whole life . When the policyowner borrows from the cash value , he/she is creating a loan . But with any loan , there is an interest rate attached because you are expected to repay the loan back to the insurance company . If the insured dies with an outstanding loan against the policy , the death benefit paid out will then be the face amount less the outstanding loan value and any remaining interest attached to the loan .


Input: What does it mean when you have a insurance policy that says cash value 8000 and face value 16000?

Output: It sounds like you own a whole life or universal life policy , which can get confusing . The face value is the death benefit , in your case $ 160,000 . If you died , your beneficiary would receive $ 160,000 and no more . The $ 8,000 cash value melts to zero value in that case.The cash value isa kind of forced `` sideaccount `` within your life policy that is realized by you only if you surrender the policy or borrow against it , which can then reduce your death benefit by the amount of debt owed.If you need cash , you can borrow against the $ 8,000 and pay interest , but then any indebtedness would be deducted at time of death from the $ 160,000 . $ 160,000 seems like a very low amount of life insurance these days . Most experts recommend 10x your annual income assuming you have debts or people depending upon that income . For example , a healthy 40 year old can buy $ 500,000 worth of 20 year level term life insurance for less than $ 33 per month .


Input: What does it mean when you have a insurance policy that says cash value 8000 and face value 16000?

Output: Great question ! The `` face value '' is the amount that would be paid to the beneficiary , minus any loan amounts or unpaid premiums . The `` cash value '' is the amount that could be borrowed or received upon surrender of the policy . The cash value will usually be less than the face value of the policy until very long after you 've had it , in most cases.If you have more questions , please feel free to contact me . Thanks for asking !


Input: How To Offer Health Insurance To Employees?

Output: Group health insurance quotes are based on the size of your business , the industrys SIC code , age of employees , and average employee health -LRB- except in Maryland , which requires no medical underwriting -RRB- . There are no instant online quotes for group health insurance for these reasons . You can secure the quotes and buy the plan through an independent agent . Given the complexities and the number of moving parts involved in group coverage , you want to work with someone who has a strong background in group coverage .


Input: Why Is Life Insurance Not Taxed?

Output: In general terms , the death benefit proceeds are paid to the beneficiaries of life insurance policy tax free . There may be some tax exposure in business and estate scenarios . But the government made a decision quite some time ago that life insurance presented a social good that warranted the tax preference .


Input: Why Is Life Insurance Not Taxed?

Output: As best as I can understand it , the core reason for not taxing life insurance is that the tax perks give people an extra reason to buy the product . Free money , has quite an appeal . With an income tax free benefit and the potential for tax-deferred cash growth and tax-free distributions , life insurance represents a lot of free money . It is very much in the government self-interest to have people purchase life insurance . Think about how high the demand for government benefits would be if families did not have private money to sustain themselves when a dear loved one was lost ? How about all the businesses that would fail with the subsequent increase in unemployment if businesses didnt sure against the loss of partners and key employees ? And dont forget all the charities that do tremendous political , spiritual , medical , and civic work for the nation . If you reduce the amount of life policies that are gifted to these groups , many would have a very hard time surviving .


Input: Why Is Life Insurance Not Taxed?

Output: When Congress created an income tax in 1913 , it exempted life insurance because life insurance was seen as a safety net for widows and orphans . Life insurance has expanded in its uses since then , from protecting businesses if a key employee dies , to being part of a financial plan for high wealth individuals . But at its core , life insurance protects people and businesses from financial loss as a result of death . And death is still one area that people hate to see exploited .


Input: Does The Irs Take Money From Life Insurance?

Output: In general , life insurance proceeds paid directly to your named beneficiary are not taxable nor are they attachable by creditors . Assuming your beneficiary invests the proceeds , then any interest or income that is drived from that investment will then , of course , be taxable and the responsibility of your beneficiary .


Input: Does The Irs Take Money From Life Insurance?

Output: In general life insurance proceeds are income tax free when left to a beneficiary . Avoid naming your estate as the beneficiary unless you have a trust in place.Life insurance proceedscan be taxed if left to an estate withouta trust . I highly recommend using an experienced agent or advisor to avoid costly mistakes to your beneficiaries in the future .


Input: Does The Irs Take Money From Life Insurance?

Output: Life insurance proceeds are income tax free meaning the IRS can not take money out of the death benefit paid out to the beneficiary . There are situations where the value of the death benefit can be included in the calculations of the estate for estate tax purposes . People generally use life insurance trusts when setting up the policy for estate planning purposes .


Input: How Can I Get Health Insurance?

Output: Since the open enrollment period has passed , I believe your only option would be short term health insurance , just to get you buy until the end of this year . The availability of short term health insurance will vary depending on what state you live in . Feel free to email me with your city , state , and zip code and I may be able to point you in the right direction . My email is WEBSITELINK


Input: What Company Has The Cheapest Homeowners Insurance?

Output: Cheapest Homeowners Insurance ? One must be cautious when proceeding ; the term may be frightening to many ! What will you be missing by finding the ` Cheapest Homeowners Insurance ' ? Will the carrier not include some necessary endorsements rendering the policy useless should you have a related claim ? If you are qualified to compare one policy with another , you may wish to contact 10 companies and obtain a quote . Insurance carriers file their rates based on prior experience specific to each zip code . It is impossible to say which carrier has the cheapest rates without having a specific zip code . If you do n't feel that you are qualified to compare policies , you should contact a qualified brokerage who will have access to multiple companies and will be able to give you exactly what you want . If you are truly looking for the ` cheapest premium ' , we recommend purchasing the best policy and then adjusting the deductible upwards to match the premium you wish to pay . This way , you 'll accept a little risk but be properly insured without taking any short cuts . For assistance in California , Arizona & Nevada ; you may click on : WEBSITELINK For other States , you should search for a brokerage house that does n't charge any fees and places you directly with major carriers ; this is the best way to get access to many companies and only speak with one individual .


Input: How To Save Money On Renters Insurance?

Output: The easiest way to save money on your insurance premium with lessening your coverage is to have all of your insurance policies with one carrier as most carriers provide a discount for having multiple policies with them . If this is not an option for you then there are only two other options . One is to lessen your coverage and the other is to shop around .


Input: When Can I Buy A Medicare Supplement Policy?

Output: Some companies will allow you to purchase a plan up to six months before turning 65 . You can purchase a Medicare Supplement any time during the year , as long as you can qualify health-wise , unless you are in a Medicare Advantage Plan . In that case it would be in your best interest to wait until the Open Enrollment period from October 15th thru December 7th .


Input: When Can I Buy A Medicare Supplement Policy?

Output: You have an automatic guaranteed right to purchase a Medicare supplement policy when you turn 65 or after you have been on Social Security disability income for 2 years . If you worked past 65 and were covered under an employer group health plan , you have an automatic right to purchase a supplement plan when your group coverage ends .


Input: Can I Switch Medigap Plans?

Output: You can switch your Medigap Plan at any point throughout the year . You do not have to wait for AEP -LRB- Annual Election Period from Oct. 15 - Dec 7 -RRB- . AEP only applies to Medicare Advantage and Prescription Drug Plans . If you are not in your Open Enrollment Period or another Guaranteed Issue situation , you 'll have to medically qualify for a new Medigap Plan . This means you have to answer health questions on the insurance application and then get approved through the medical underwriting department . To see if you are still in Open Enrollment or any other Guaranteed Issue situation , it is best to contact Medicare or an independent agent specializing in Medicare Supplement insurance . If you have to qualify medically for a new Medigap Plan , an independent agent can review your health history and let you know which insurance companies you may qualify with . There are many reasons why you may want to switch Medigap plans -LRB- lower premium , more benefits , less benefits -RRB- . Please feel free to read this article which gives a little more detail about changing your Medigap insurance . WEBSITELINK Thank you for reading my response . Please let me know if I can help you with your specific situation .


Input: Can I Switch Medigap Plans?

Output: Yes . You can apply for a new Medigap plan at any point during the year . People often change their Medigap plans for a number of reasons , the most common being : You want to reduce your expenses by securing a lower premium from a policy with the same benefits -LRB- purchasing a Plan F with company B and dropping the existing Plan F with company A -RRB- . - this is the most common reason why people change their Medigap plans . Medigap plans are standardized so the coverage under a plan F is the same regardless of the company it 's through . So often people want to look at lowering their premiums when their policy gets hit with a rate increase . You may not need/want all of the benefits you 're paying for or you need/want more benefits than you have under your existing plan . Please note , if you do not have a guaranteed-issue right to purchase a Medigap plan without any medical underwriting , you would have to answer the health questions on the application . Medigap plans are guaranteed renewable . So in the event you could not medically qualify for coverage under a new Medigap plan , you always have the option of keeping what you have . I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage , including quotes and plan comparisons , and if you have any other questions . Thanks very much .


Input: What Basics Do I Need To Know About Disability Insurance?

Output: The # 1 thing you need to know about disability insurance is that it is paycheck protection in times of prolonged sickness and injury . You need to select an elimination period . Most Americans have 90 days in cash reserves , so a 90 day elimination period is a consideration . When claims are filled and the elimination period satisfied , the benefits are paid tax free .


Input: Which Is Best Medigap Plan?

Output: The best Medigap plan is the one that meets your needs and budget . For some people , Medicare supplement plan F may be a good fit . Others may find that plan G works best for them or plan N. Compare plans and rates , consider your medical history and budget before enrolling .


Input: Is Critical Illness Insurance Worthwhile?

Output: Critical Illness policies can be looked at 2 different ways . One as long as you purchase a Critical Illness that covers 10 or more afflictions at a reasonable price that can not be cancelled before age 65 , that can be good . Second , its category of insurance sales is among the lowest . Even though 67 % of Americans will be diagnosed with a critical illness and survive it , very few own this type of policy .


Input: Is Critical Illness Insurance Worthwhile?

Output: If you are related to someone with a health history involving stroke , heart attack , cancer , Alzheimer 's , or other illnesses covered by a particular critical illness policy , the policy will be more worthwhile to you than to someone who is not related to someone with any of those maladies . That is because : 1 -RRB- you have seen firsthand how those illnesses can impact a family financially , and 2 -RRB- you may have a genetic predisposition to those health conditions . Critical illness insurance could be worthwhile for the peace of mind it gives you , as well as the increased chance of paying you a benefit when you need it most .


Input: Does Medicare Pay For Lucentis?

Output: To my knowledge , Lucentis is not yet on the approved list for Medicare prescription drug plans . It was not listed on the Medicare drug formulary finder which is a good indication is not covered . Lucentis is used to treat macular degeneration . In tests it has proven no more effective than Bevacizuman which is about $ 42 per dose vs $ 1600 for Lucentis .


Input: Is Xeloda Covered By Medicare?

Output: In this brochure , WEBSITELINK put out by Medicare in June of 2012 , the following information is noted : Oral Cancer Drugs : Medicare will help pay for some cancer drugs you take bymouth if the same drug is available in injectable form or is a prodrug . Capecitabine or Xeloda is included in this list .


Input: Will Poor People Have To Buy Health Insurance?

Output: The new health care legislation requires everyone to obtain health insurance , but not everyone will pay for health insurance . Starting in 2014 the Patient Protection and Affordable Care Act or Obamacare requires every American to have health care . You may not have to pay for health care in you economically demonstrate you can not pay by means testing . If you elect not to pay for health care , and by means testing can pay , youll be assessed a penalty at the time of filing your taxes .


Input: Does Medicare Cover Pulmonary Rehab?

Output: If you have a referral from your doctor , Medicare will cover a comprehensive pulmonary rehabilitation program for moderate to very severe chronic obstructive pulmonary disease -LRB- COPD -RRB- . The rehab may occur in a doctor 's office or a hospital outpatient setting that offers such programs . If you get the services in a doctor 's office you pay 20 % of the Medicare approved amount . If as a hospital outpatient , you pay a copay for each session . You also pay the Part B deductible .


Input: Can Auto Insurance Companies See My Driving Record?

Output: When you apply for auto insurance coverage with a carrier they pull your MVR record from your driver 's license information that you have provided . If the carrier is not able to secure your driving record information they may either decline providing coverage to you or possibly surcharge their base rates .


Input: Is Car Insurance Cheaper For Commute Or Pleasure?

Output: Depending on your carrier and your state laws but I have found that with some carriers the rate has no change . However as far as claims go With some carriers if you list it as commute only and then you are taking it for a pleasure drive and have an accident I have seen the carrier try to dispute the claim because it was listed as commute which means that was the only type of usethe auto was being used and then you used it for pleasure and they did n't want to play the claim because it was rated incorrectly . I would talk to you agent or carrier and ask them how they define commute . Most cases it is n't an issue but I would n't want to take the risk and have it rated commute when you using pleasure and have an issue when a claim arose


Input: Is Car Insurance Cheaper For Commute Or Pleasure?

Output: More commonly pleasure will get the lower rate but different insurance companies see this different ways according to the actuaries so with some pleasure is higher . There are other factors to take into consideration and that is how many people in the household . How many cars are there which also are rating factors .


Input: Is The Return Of Premium On Life Insurance Worth It?

Output: Return of premium life insurance has it 's place just like the other types of life insurance available out there . It does tend to be more pricey than other types of life insurance policy types out there . For a person that can afford to purchase a ROP policy in addition to a whole life policy could potentially benefit greatly from this type of policy . Contact a local agent to discuss the benefits and restrictions of the different types of life insurance policies out there .


Input: Is The Return Of Premium On Life Insurance Worth It?

Output: I will echo David 's comments too . ROP -LRB- Return of Premium -RRB- definitely has its place , but the cost is generally a bit more than other policies . Depending on the type of planning you are doing , there could potentially be different options to consider . If you 're looking at more involvedriders/policies , I would stretch past an insurance ` agent ' and find someone who is an actual advisor or planner . They typically have more dynamic resources to call upon to help give you a more customized answer . Great question ! Sheryl Brown / @AshBrokerage


Input: What Is A Good Life Insurance Company?

Output: A good life insurance company for you is the one that will give you the best rates . I mean , the bottom line is that you do not want to overpay for coverage , right ? Underwriting drives the purchase of life insurance . Which company will underwrite you most aggressively ? It has to be a company that has a sophisticated understanding of the risk you represent , and a comfort level with being aggressive in applying their underwriting guidelines . Lets suppose you unfortunately have diabetes . Your broker would have to find you a company that is very competitive in underwriting diabetics . The same applies for people who have hepatitis , and a cancer history , and heart disease , and who climb mountains , and who scuba dive , etc. . Companies vary widely in their willingness and capability for taking on different risks at a good price . And this can change over time . The company that was good for people who are overweight last year , may not be the best one this year . Not only that : even a company who is usually good for your underwriting risk , may not be the right company for you at this time . Like every other business , life insurance companies can have ebbs and flows in their level of service . They may be short-staffed . They may be experiencing a huge backlog of cases . There may be a merger or an acquisition in the wind which will affect their underwriting decisions . Then again , there could be factors that would work in your favor . A company may want to close out the year with an influx of good business , and make you an exceptional offer . Sometimes they make just want to make a business decision and take your case because they like it . If your broker prequalifies you properly , all these factors will be addressed . Youll be confident that youve chosen a good company .


Input: What Is A Good Life Insurance Company?

Output: A good life insurance company is one that will be there , and be able to pay your beneficiary , when you die . It is one that will use your premiums in a responsible fashion and , if you purchased Whole or Universal Life , generate as much cash value for you as possible . It will provide good customer service . This type of life insurance company usually has a high rating by one or more rating companies . Looking at those ratings and the accompanying financial data by AM Best , S&P , Moody 's and Fitch 's is the easiest way to determine a good life insurance company .


Input: Is Transamerica Life Insurance Good?

Output: Transamerica Life Insurance Company is highly rated and carries a variety of products . Transamerica America Family Markets offers a term life insurance product that provides living benefits , as well . To find competitive quotes for Transamerica and many other good life insurance companies , visit a website that provides instant life insurance quotes . That way you can compare prices all in one spot .


Input: How To Get Life Insurance Without A Medical Exam?

Output: To get life insurance without a medical exam , you first contact a life insurance agency that sells that type of policy . Then , depending on the policy , you fill out an application over the phone and sign it digitally , or on paper and fax or mail it to your agent . Some no exam policies will then require a phone interview . The person doing the interview will try to call you , and leave a number if they can not reach you , that you can call back at your convenience . Some no exam policies will order medical records from your doctor . Most often , that step is not required . When approved , most life insurance without a medical exam will draft your first premium and put it into effect as soon as it is approved . Some will let you pay the premium after you receive the policy in the mail . In addition to the above , there are some nonmedical life insurance policies that will do a phone interview with you and your agent to fill out the application and put the policy into effect all at the same time .


Input: How To Get Life Insurance Without A Medical Exam?

Output: The type of life insurance polices that do not require a medical exam are guaranteed issue life and simplified issue life . Guaranteed issue life are typically low face amount policies and most are graduated meaning the death benefit starts low and increases with time . A simplified issue policy usually requires a phone interview and still has medical questions . It just does not require a paramed exam for blood and urine . These policies typically issue faster than fully underwritten plans but are a bit more expensive due to increased risk from less information underwriting .


Input: Does My Auto Insurance Cover A Moving Truck?

Output: Great Qutestion . Generally personal car insurance does not cover a moving truck . Since a moving truck is consider a commercial vehicle . You can buy insurance from the moving company that rents you the truck . And always check with your current insurance compay for rules and regulation on that particular question .


Input: Is Long Term Healthcare Insurance Necessary?

Output: Any type of insurance involves risk , and a synonym for risk is `` chance '' . There is a chance that you may need long term care services someday . It could be because you had a surgery that requires extensive rehab , you were diagnosed with an illness that requires long term treatment , you got Alzheimer 's or dementia and could not be trusted alone , or you simply lost the strength to care for yourself . Whether or not you need to plan for that contingency probably depends on how drastically that would affect you . If you have very little income and assets , Medicaid will cover you when your assets have been spent down . If you have a very large amount of income and assets , you may be able to pay for the care yourself . It is those in the middle who have the most to consider . For some , long term healthcare will be necessary when they look at the big picture . For others , it wo n't . it is really impossible to answer that question for anyone else .


Input: Can I Borrow Against My Life Insurance?

Output: That is a great question ! If the following things are in place , then yes , you certainly can . - It must be a whole life policy . Term life policies have no cash value to borrow from , it 's part of the reason they are so cheap . - you must be the owner of the policy . - the policy must be in force for a few years . Typically , the first 2-3 years of your policy 's life the cash value is very small , as the premiums paid cover the cost of the insurance for the company . - the amount that you borrow falls within the limits set by the policy . Many companies will limit the amount that you can borrow , to limit the risk that the loan balance with interest does not allow the policy to go belly up . If you can meet all of these criteria , than chances are very good that you can have a tax free check in your hands in just a couple of days ! Thanks for asking !


Input: Can I Borrow Against My Life Insurance?

Output: When taking money from a Life Insurance Policy you need to consider the impact on your policy when you take a withdrawal or a loan . Both are available within your policy providing you have the cash value available . A withdrawal is taking money out of the cash value , with no intention of putting it back into the policy . The death benefit will be reduced in most cases as well as the remaining cash value . As long as the withdrawal is less than the money you have paid into the policy , there should not be a taxable event . If you do exceed the money you have paid in , then you will have to pay taxes on the amount over . On the other hand , a loan is a great option especially if you want to pay back the money taken . Look at your policy to understand the loan provisions . There is a fixed rate and most likely a variable rate . Depending how the policy credits money , and what the expected future growth might be , will determine which loan option may work best . Sometimes clients will take a withdrawal up to the cost basis , the premium you have paid in , then switch to a loan to minimize any tax burden . Like mentioned on the other comments , if you have a loan and the policy lapses , you will a potential taxable event which at the end of the current tax year , you will get the appropriate statement/form from the insurance company . Please consult your agent/broker prior to making any decisions .


Input: Can I Borrow Against My Life Insurance?

Output: The short answer to the question is YES , and depending on the type of policy this is a very good practice . I like to refer to this strategy as '' Financing Yourself To Wealth '' . You may borrow from the cash value of your life insurance policy providing you have sufficient funds available in the cash accumulation account of your policy . TERM life policies do not have a cash accumulation account and will not work for borrowing against the cash that has built up in your account . To learn more about these strategies visit me at WEBSITELINK


Input: Can I Borrow Against My Life Insurance?

Output: There are two types of life insurance : - 1 - Term Insurance - these typically do n't have cash value -LRB- some may have a return of premium at the end of the term -RRB- . 2 - Permanent Insurance - these include whole life , universal life , indexed universal life & variable life . These will typically have some level of cash value associated with them . The policies with cash value typically do have a loan provision -LRB- check with your agent or policy language -RRB- . Those policies with this provision will usually allow to borrow up to 80 % of the cash value . Word of caution ... if you borrow and do n't pay back any monies , the remaining cash value will be used to keep the policy active . When that cash value is exhausted the policy would lapse or you may receive a bill for a large amount to keep the policy going . This could also create a tax event on the monies you originally borrowed .


Input: Can I Save Money On My Health Insurance Premiums In The Marketplace?

Output: That is an excellent question ! You may very well , and it certainly does n't hurt to look . There are a lot of things that will determine the cost of your plan , but the www.healthcare.gov -LRB- Affordable Care Act/Obamacare -RRB- site allows you to shop without obligation to compare plans and options , and it tells you if there are discounts available to you . As a nation , we have already saved on our insurance costs , as the annual price increases normally associated with health care policies have slowed from annual 10 % + increases to under 5 % the last couple of years , in most markets . The increase on average here in Houston this year was about 4 % . Happy shopping , and thanks for asking !


Input: How Can I Lower My Auto Insurance Rates?

Output: There are a few different ways that you can lower your auto insurance rates . Possibility number one is lowering your coverage levels -LRB- not recommended as this can leave you exposed to greater liability -RRB- . Possibility number two if you have n't already done so combine your homeowners and auto coverage under one company -LRB- most offer multi-policy discounts -RRB- . Possibility number three is shopping around every company has it own levels of risk tolorence -LRB- if your confortable with your agent and the company that you are with already - it may be worth the extra cost for the peace of mind -RRB- .


Input: How Can I Lower My Auto Insurance Rates?

Output: If you are looking to lower your auto insurance rates , the first thing that I would suggest if you have a homeowners or renters policy and it is not with the same carrier as your auto insurance then you may want to purchase that coverage from your auto insurance carrier to be able to possibly get an additional discount for having multiple policies with the same carrier . You could also look into lowering your coverage amounts or raising your deductibles .


Input: How Can I Lower My Auto Insurance Rates?

Output: If you want to lower your insurance premium you could raise your deductibles for your comprehensive and collision coverages on your auto policy . Another way would be if you do not have your home owners and auto insurance coverage with the same carrier , you may be able to receive a discount on both policies if you swich both policies to the same carrier .


Input: How Can I Lower My Auto Insurance Rates?

Output: If you want to lower your auto insurance rates there are a few different things that you can do to achieve this . The first would be to raise your deductilbles if you have collision and other than collision -LRB- comprehensive -RRB- coverage on your vehicle . You could possibly lower your liability coverage amounts this could also lower your rates . Another way would be to have multiple policies with the same carrier .


Input: How Can I Lower My Auto Insurance Rates?

Output: There are short term ways or quick ways to lower your rates such as packaging a home or renters insurance policy with your auto insurance if your company has both . Rates these days are really driven by the company base rates and you individually . Some of the factors that will effect your rates is credit , your driving history , the length of time you have been insured , zip codes , age , marital status and your claim history . Many companies have rates in `` a black box '' so other factors at times are hard for agents to explain . If you have not done so I recommend contacting an independent agent so they can shop for you different companies and find which one fits best for you on both coverage and price . Good Luck


Input: Does Auto Insurance Follow The Vehicle Or The Driver?

Output: In general auto insurance follows the vehicle . For example if Bob loans his car to James and James has an accident with it , Bob 's insurance will be the primary insurance responding to the accident . If for for some reason Bob 's insurance turned was invalid or the damages were so large that his insurance was exhausted then James ' insurance would respond as a secondary coverage .


Input: Does Auto Insurance Follow The Vehicle Or The Driver?

Output: Automobile insurance follows the car in California . The car is rated on a number of factors but primary information is the household connected to the automobile . All the drivers in the household are covered by the policy unless excluded . Recently there was quite an expensive crash involving an excluded driver who resided in the household where the car was rated . This creates enormous difficulties for everyone .


Input: How Much Is Aflac Health Insurance?

Output: AFLAC is not traditional health insurance . They sell supplemtary insurance policies that cover specific events or conditions . Some of their policies cover accidents , critical illness , cancer and hospital confinement . The policies ususally run in the neighborhood of $ 20 to $ 40 dollars a month . As an illustration , the cancer policy provides a fixed dollar benefit if you are diagnosed with cancer such as $ 5,000 . If you have chemo you can a fixed dollar amount for eacy chemo treatmentlet 's say $ 350 . All AFLAC insurance policies pay you directly and not medical providers .


Input: How Does Auto Gap Insurance Work?

Output: Auto gap insurance is designed to reimburse you for the difference in the current value of the car and what you owe on the car , in the event there is a total loss . Since a car rapidly depreciates after you make the purchase , it is very possible -LRB- especially with little or no down-payment or trade-in -RRB- , that you will have this `` gap . '' Typically , the cost is not very expensive , and it can be taken out at the time you purchase the vehicle . You can also purchase a gap policy to cover your deductible , which will reduce your out-of-pocket costs . As an experienced car insurance broker , this coverage is often discussed with our customers . You can often buy coverage from your broker , lending institution or dealership .


Input: How Does Auto Gap Insurance Work?

Output: James is right on . This is typically going to be upsold heavily at the auto dealership . If it is not required by the financing company and you are interested in coverage you will often be better served to shop around rather than going with the policy the dealership offers you .


Input: How Does Auto Gap Insurance Work?

Output: Auto insurance Gap coverage is a physical damage coverage that pays the difference between the loan balance and the actual cash value of the vehicle If it is totaled . This coverage is usually purchased on leased vehicles , but can be purchased on conventionally financed vehicles also . Contact an agent before you purchase the car and coverage to have an idea what the coverage will cost . With that information you can compare at the dealership to decide if want it and if you can get a better price with your agent or the dealership .


Input: What Is The Cheapest Website For Car Insurance?

Output: The cheapest website for car insurance ? As an experienced car broker -LRB- 33 years -RRB- , naturally , I am biased to my own top-rated website . However , in fairness , there are many reputable and reliable websites that offer competitive prices . However , it 's important to utilize a resource that constantly updates information and provided accurate rates .


Input: Does Accidental Life Insurance Cover Heart Attack?

Output: Does accidental life insurance cover a heart attack ? No , as a heart attack is actually a medical event , not an accident , even if it happens without warning . Accidental life policies tend to be cheap because they are known as situational plans . That is , a certain situation has to happen a certain way creating the death for the plan to pay .


Input: Does Accidental Life Insurance Cover Heart Attack?

Output: No , accidental life insurance does not cover heart attack . It would most likely not even cover death due to an accident incurred while having a heart attack . If you have a pre-existing condition such as heart disease , it is important to get a policy that covers death due to illness as well as death by accident , which is what pure Life Insurance covers . Even if you can get $ 500,000 of accidental death coverage for the same price as $ 25,000 of life insurance , the life insurance is the better deal .


Input: Who Regulates Health Insurance In California?

Output: The California Department of Insurance -LRB- aka the California Insurance Commissioner 's Office -RRB- . If you are having problems with an insurer you can contact the department at 800-927-4357 if you are within the state of California or 213-897-8921 if you are outside of the state of California . You can also use their contact form , which can be found here : WEBSITELINK


Input: How Long Does A Ticket Stay On Your Driving Record For Insurance Companies To See?

Output: Minor traffic tickets usually just stay on your driving record for three years . More serious traffic violations can stay on your driving record for insurance companies to see for 10 years or more , even a lifetime . However , life insurance companies do not consider traffic tickets or violations that occurred before a certain amount of time . You should be able to get a Preferred rate now .


Input: At What Age Do I Apply For Medicare?

Output: If you are someone who has paid into Medicare for at least 10 years , or were a stay at home spouse whose husband or wife is eligible for Medicare , you apply at age 65 . If you are already receiving Social Security benefits at age 65 , you will be automatically enrolled in Medicare at age 65 .


Input: Will Homeowners Insurance Cover Shingles Blown Off Roof?

Output: A roof has a shorter life span than the rest of the house . As a result many insurance companies do not provide replacement coverage for a roof . Instead they determine the life of the roof and repair the roof under the policy using the cash value of the roof . If a $ 15000 roof has $ 5000 of damage and is midway through its life , you could expect a settlement that would help repair your roof but would not replace the roof .


Input: Will Homeowners Insurance Cover Shingles Blown Off Roof?

Output: That is a great question ! Check with your agent to be certain , but you should be covered for the repairs . How bad was the damage ? If it 's just a few shingles , and the estimate is less than your deductible amount , you are wiser to not file a claim , as you 'd end up paying for it anyway , and you will spare yourself the chance of an increased premium as a result of the filed claim . You also may have problems because of the reason for the lost shingles . Hurricane damage , or tornado damage may not be covered with out a rider , where you live . Best bet ? Get a repair estimate , compare it to your deductible amount , and proceed from there . Good luck , and thanks for asking !


Input: Will Homeowners Insurance Cover Shingles Blown Off Roof?

Output: It is always best to talk with your Insurance Professional about the terms and conditions of your policy , but generally speaking , wind damage is a covered peril in most Homeowners policies . Now , that having been said , in coastal areas , where states allow , insurance companies can apply coverage limitations or specific deductibles for damage caused by wind .


Input: Is Gerber Life Insurance A Good Deal?

Output: I find Gerber 's prices to be a good deal for children . Gerber also has a guaranteed issue policy that can come in handy for those who do not qualify for other policies . To compare rates of any of the Gerber plans or policies with other life insurance companies , you can go to a website that offers a variety of companies and input your state , date of birth , height , weight , tobacco status , and some medical information . While price is n't everything , it is nice to compare before making a decision .


Input: Is Gerber Life Insurance A Good Deal?

Output: It depends on what you call a good deal . If you are looking at starting a life insurance policy on your child to protect them incase of premature death or to guarantee options to buy more life insurance in the future , then Gerber is a nice policy . But with that being said I have to say that I strongly disagree with their latest run of TV commercials that promote buying their life insurance policy as a way to fund your child college . Again in my opinion when you look at the premium that you are paying , how long it will be paid and the cash value that is available when your child is ready to go to college , that statement borders on the line of lying . Funding college no , funding some college books is more like it . Everything really comes down to what are you buying the insurance policy for .


Input: Why Take Out Life Insurance On A Child?

Output: Taking out a life insurance policy on a child will provide a lower premium than what it will be when they are older and it provides insurability . Some policies after being issued willallow a child at different pre-assigned ages to increase the policy value without a medical exam and for only the cost of the premium for the extra coverage addedto the policy .


Input: Why Take Out Life Insurance On A Child?

Output: Losing a child myself , I HIGHLY recommend getting life insurance on your child . None of us wants to think of iosing a child , let alone plan on it but it definitely eliminates the financial burden if the unimaginable does happen . Life insurance is also so cheap for children and there are many different types you can get . The most common is a term policy which will last for a set number of years . 10 , 20 , 30 ... but then they expire and the cost of getting a whole life policy then is more expensive since the premiums go by age . I have a 20yr paid up policy on my children for $ 10k death benefit . I pay a very low amount for 20 years and they will have $ 10,000 coverage for the rest of their lives . The premium will never go up . Remember this , the best time to purchase life insurance is the younger and healthier you are !


Input: Why Take Out Life Insurance On A Child?

Output: Taking out life insurance on a child can be a good idea if there are diseases that run in your family , such as type 1 diabetes . By getting life insurance while they are young and healthy , you will pay a low premium and also be assured that they will be able to have life insurance at an affordable price for the rest of their lives . This is even if you buy Term Insurance or put a Child Rider on your own policy , as both of those choices usually allow you to convert the policy to permanent insurance , later on .


Input: When To Sign Up For Medicare Part A?

Output: For most people , Medicare Part A will come automatically on the 1st day of the month you turn age 65 . However , it is a good idea to go to the Social Security website at SSA.gov / medicare / or visit your local Social Security office to make sure . You should contact them 3 months prior to turning 65 . You will also want to sign up for Part B at the same time . If you are still working and on a group plan , your company may still offer benefits and you could delay your Part B. Medicare Part A & B do not cover all your medical expenses . A lot of people get a Medicare Supplement plan to cover the difference . With the right Medicare Supplement plan you could have very little out of pocket expenses . A independent agent that specializes in Medicare can be a big help in finding that plan that will best suit your needs .


Input: Will Home Insurance Claim Increase My Premium?

Output: A claim against your homeowners policy could affect subsequent premiums . You might be getting a discount for having been loss-free which would not be available next term . If the loss met certain prescribed levels it would make your home a substandard risk and the premium might be increased to reflect the increased risk . Actions taken on rates normally affect a policy for three years .


Input: Can I Keep My Car Without Insurance?

Output: You can keep your car without insurance . However , you can not drive it , which takes a lot of the fun away from owing a vehicle ! If you do not plan on insuring it , take the licence plates off the vehicle , and either store the car away or keep it so it is very secure . You would not want any small children -LRB- or animals -RRB- wanderingaroundand entering it .


Input: Is It Worth Getting Critical Illness Insurance?

Output: If you have a critical illness in your future , and will have received a lump sum of money to get you through that process of treatment and -LRB- hopefully -RRB- recovery , you will have thought it is worth it . No one knows the future . To some , having the knowledge that such a benefit would be provided if they are diagnosed with a life threatening illness , is worth it . To others , that is not such a big deal . Whether it is worth getting critical illness insurance or not is really a person decision . That being said , there are many more survivors of critical illnesses now than in the past . So it is a risk worth considering .


Input: Is It Worth Getting Critical Illness Insurance?

Output: There are two schools of thought here : 1 -RRB- . Have a quality health insurance plan in force and a long-term disability income policy . 2 -RRB- . Purchase good health insurance and supplemental critical illness plan . Option 2 will always be the less expensive of the two as a long term Disability Income policy is very expensive in most cases . Either way you go , if you have a stand-alone critical illness plan , you 'll be happy you had it if you have a major illness .


Input: Is Vital Stim Covered By Medicare?

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