Input: Does Term Life Insurance Have Cash Value?

Output: There are term policies that accumulate cash value . Most do not . Those that do accumulate cash value do so to provide an end of term cushion or incentive . The product with which I am most familiar uses the accumulated cash value to offset the steep increase in premiums for the years following completion of the term . This could be valuable if the insureds life expectancy is short and the need for insurance remains .


Input: Does Term Life Insurance Have Cash Value?

Output: Yes , some do . Back in the olden days they were term policies in which dividends were paid . They date back almost to the days of the covered wagon and are probably just as rare :-RRB- Today we have term products with a return of premium feature . The idea is that if you outlive the term guarantee , you get all your premium back . Of course , you have to pay a lot more premium for this added benefit . Is it worth it ? It all depends on your ability to save on the side and reimburse yourself from your own fund . But it also depends on your philosophy regarding life insurance . Ive always maintained that cash value is secondary in life insurance . The primary value of this product is the survivor benefit . The exact amount of money your heirs need is provided exactly when they need it . And every dollar of that benefit costs pennies in premium . It is quite a deal . If on top of that , do you want to grow some cash on a tax-favored basis , go for it . But just make sure that the survivor benefit remains intact .


Input: Does Term Life Insurance Have Cash Value?

Output: No , term life is pure insurance . I compare it to renting an apartment . You live there but you have no equity . Term is good for a young family with a large insurance need . It can help pay a mortgage or other debts if you die prematurely . Term insurance is generally lower priced than whole life , initially , but when you look at the costs over time a whole life policy is far less expensive and will be available when you are likely to need it most . I always recommend a combination of whole life and term depending on the needs of my clients .


Input: Does Term Life Insurance Have Cash Value?

Output: I would recommend a Term policy with a return of premium provision -LRB- ROP -RRB- if you wish to accumulate a cash surrender value . In most cases you are not allowed to borrow against the reserve , rather it is refunded to you when you surrender your policy based on the provisions in your policy


Input: Does Term Life Insurance Have Cash Value?

Output: Some term life insurance plans do accumulate a residual value but not in the traditional sense of a `` whole life '' or permanent form of life insurance . Term life insurance plans that have a return of premium provision -LRB- ROP -RRB- accumulate cash surrender value . You are usually not allowed to borrow against the reserve , but it is refunded to you at policy surrender according to the provisions in your policy .


Input: Who Needs Life Insurance The Most?

Output: The people who need life insurance the most are the survivors . These are those who remain after you die . I assume that you love these people . While they dont need a life insurance policy , they need the money that the life insurance would have brought . They need basic necessities and they need time to recover from the shock of losing you . You dont need life insurance , they do .


Input: Who Needs Life Insurance The Most?

Output: Those who need life insurance the most fall in two categories . 1 -RRB- Those who owe somebody . 2 -RRB- Those who love somebody . If you fall in one of those categories you need life insurance . I can not even begin to tell all the stories I have seen of a loved one passing on leaving the rest of the family decimated without income . To me life insurance is one of the true selfless acts of love one could show their family . I recommend every have this discussion with your family and your agent about your need for life insurance .


Input: Who Needs Life Insurance The Most?

Output: That is a great question , and one that I am frequently asked . It 's easier to tell you who does n't need life insurance , than it is who does . There is a much smaller group who do n't . If you have a fund set aside that you will not need to touch during your lifetime for your funeral expenses and final debts , along with a funded plan to provide your equivalent yearly income for your survivors , you do n't need life insurance . Since the vast majority of Americans do n't fit that category , life insurance is probably a good idea . The idea behind the insurance is that you do not leave those behind as financially hurt by your passing as they are emotionally . I hope that helps , thanks for asking !


Input: Does Life Insurance Earn Interest?

Output: Does Life Insurance earn interest ? There is one other way , other than the 2 answers given by Peggy Mace or Steve Savant , this is the interest that a Life insurance Company will pay on the death claim , from the date of death . This interest could accumulate if thee had been an investigation , or if the claim payment was delayed .


Input: Does Life Insurance Earn Interest?

Output: One of the crediting methods of life insurance is interest accumulation . Interest is generally credited after the policy expenses have been deducted from the cash value account . There are other crediting methods that use indices , both domestic and foreign as well as equities and bonds in separate sub accounts in variable life products .


Input: Does Life Insurance Earn Interest?

Output: If you purchase a permanent policy such as Universal Life , Whole Life , or Indexed Universal Life , the life insurance policy will earn interest . It will have a guaranteed interest rate and an interest rate that it `` could '' earn , which is higher than the guaranteed interest rate . Term life insurance does not earn interest .


Input: What Is Medicare Supplement Plan J?

Output: I found your question to be really interesting . In some states Plan J has been discontiued . In researching your question I found an `` advisor '' on line that emphatically states , '' if you still have this type of policy you should change '' . Then it appears that the Plan J policy has a $ 2000 deductible that has to be paid before any benefits are paid . If this policy has a $ 2000 deductible then I tend to agree with the `` on-line advisor '' and you need to change to a policy that is more commonly sold by the main line companies involved in the medicare supplement business


Input: What Is Medicare Supplement Plan J?

Output: Medicare Supplement Plan J was a good plan , however , it is no longer offered in any state . Medicare Supplement Insurance Plans can not vary by state . If they stop offering Plan J in one state then they stop in all states . Any person who still has a Plan J can keep that plan the rest of their life if they would like . However , with no new premium coming in from new customers the only way insurance companies can deal with rising healthcare costs will be to raise the premiums on Plan J . It would make sense for someone with Plan J to compare plans to see what is available . Plan F is the most similar to Plan J but Plan G is also something to consider .


Input: What Qualifies As An Erisa Qualified Retirement Plan?

Output: On September 2 , 1974 the Employee Retirement Income Security Act became law . The law was to establish financial disclosure of fees , standards for fiduciaries and provide guidance for plan participants . Recently 408 -LRB- b -RRB- -LRB- 2 -RRB- was added to shore up the full disclosure of plan costs . Plans developed under ERISA like 401 -LRB- k -RRB- s permit tax deductible contributions and tax deferred accumulation with distributions taxable as ordinary income .


Input: Can A 21 Year Old Get Life Insurance?

Output: Yes . The premiums for coverage depend on a number of factors including whether the 21 year old is a male or female , his/her medical history , height/weight profile , any tobacco usage , the amount of coverage the policyowner is looking to secure and how long he/she wants it guaranteed for . Many individuals look at securing a guaranteed universal life or whole life policy for an individual at such a young age as they can reasonably expect to live for a long time , meaning the rates are much much lower than someone who is in their 30 's , 50 's , 60 's , etc. , where the number of years of remaining life expectancy would be less . With such low rates at a young age , guaranteeing the premiums and death benefit for life is very affordable . Consult with an independent insurance agent/broker to see what plans are available and what structure would be best suitable to meet your needs . You can send me a private message by clicking on the `` contact me '' button if you would like assistance with your and your family 's life insurance needs .


Input: Can A 21 Year Old Get Life Insurance?

Output: Yes , you can and in general terms life insurance is a financial risk management product that the earlier in life one purchases it the lower the cost will be . Without getting too technical there are essentially two types of life insurance ; term life insurance and permanent life insurance -LRB- often referred to as whole or universal types of permanent life insurance -RRB- . Term life insurance will be the least expensive and as it 's name implies it covers you for a fixed term or period of time -LRB- usually 10 , 20 or 30 years -RRB- . Whole life insurance policies are generally designed to cover you throughout life and until death . Whole life insurance policies are more expensive but they often offer features such a cash build up , the ability to be paid up in full over a certain period of time but continue in force until the policy holder 's death . Most people purchase a mix of these two types of policies to cover their differing needs throughout different stages of their lives . For example , you will probably have a need for more life insurance during your working years when you are getting married , having children , have a mortgage and other financial obligations that you want to protect your survivor 's from if you were to pass away during that stage of life . Having a large amount of financial protection with lower cost term insurance for these years is an approach used by many people . They then often compliment the term policy with a lesser amount of permanent life insurance to make sure that if the pass away in old age that their funeral expenses and any outstanding debts are taken care of and that they perhaps leave an inheiritance to their spouse , children and/or grandchildren .


Input: Can A 21 Year Old Get Life Insurance?

Output: Yes a 21 year old can get life insurance . Of course there are qualification questions but in most cases there should be no problem obtaining life insurance . I have helped many young people around your age obtain life insurance . The premiums are great due to your age . I recommend you contact a local independent agent who can shop multiple carriers to find you the right product at the best rate to fit your needs .


Input: Can A 21 Year Old Get Life Insurance?

Output: Of course , a 21 year old can get life insurance and the amount should be determined by who is dependent on him for income if he dies prematurely . If he is not married and has little debt or mortgage then he may only need a burial policy . As a financial advisor , I only recommend term protection which is the lowest cost of all life insurance . A 21 year old who is working has a great opportunity because he is so young to begin saving in a roth ira and this will lessen his need for more life insurance in the future . Along with this he must not get himself into debt .


Input: Can A 21 Year Old Get Life Insurance?

Output: Why do you ask ? It 's an odd question . Have you heard otherwise that 21 year olds ca n't get life insurance ? Is there something about you that is unusual for your age ? Are you distinguishing 21 from 20 or 22 ? It is hard to answer your question without knowing what prompted it .


Input: Can A 21 Year Old Get Life Insurance?

Output: In most cases , yes a 21 year old can purchase life insurance . But just like anyone purchasing life insurance first there has to be a need in order to establish a face amount . Who will be in a financial loss if you die today ? It could be from a funeral expense , to a debt repaid to someone who counts on your income . Next is insurability . Not all 21 year olds can qualify for life coverage . There are always a number of factors to consider . Underwriters look at build , life style , occupation andlocation just to name a few . I recommend contacting an independent life insurance broker to find the best product for your unique situation .


Input: What Auto Insurance Does Not Do A Credit Check?

Output: Nearly all carriers use credit in underwriting . The only variable is what sorts of events they rate on and how important it is to the rating process . Many will overlook credit , although Effective Coverage works with at least one auto insurance company in Texas who does not do a credit check for auto insurance .


Input: What If A Life Insurance Company Goes Bankrupt?

Output: Life insurance companies nearly always merge with another company , or are bought by another company , before they get to the point of bankruptcy . State regulators are very strict with life insurance companies to help ensure that policy owners are protected . If a life insurance company would go bankrupt , states have guaranty funds that can pay the death benefit up to a limit .


Input: What If A Life Insurance Company Goes Bankrupt?

Output: A life insurance company , operating in your state is regulated by at least two state departments of insurance . These agencies monitor the financial health of each insurance company that they admit to do business in their state . If a company appears to be in difficulty the commissioner in your state becomes very active in conserving the assets of the company to make sure that they can keep their promises . Most states have formal arrangements that obligate other companies to assist in helping a failing company keep their promises .


Input: What Is A Tax Qualified Long Term Care Insurance Plan?

Output: A tax qualified long term care insurance plan is one that is able to have the premiums deducted as a medical expense , and benefits received income tax free . Tax qualified plans have some requirements in regard to triggers and what is offered , that non qualified plans do not . Most long term care insurance sold today is tax qualified -LRB- TQ -RRB- .


Input: How Do You Cancel Aviva Life Insurance?

Output: Yes , you can cancel Aviva life insurance . Call Aviva at1 .800.800.9882 or send them a secure email at their website : WEBSITELINK . You might want to talk this over with your agent beforehand , to make sure that cancelling the policy is in your best interest .


Input: Does Renters Insurance Cover Loss Of Belongings Due To Bed Bugs?

Output: A homeowners policy is designed to pay for damages to your residence . The list of perils that the company insures against is lengthy but insects are specifically excluded in most policies . Eradication of bed bugs is not a covered loss under the policy . It is certainly a condition that should be corrected .


Input: How Much Life Insurance Can I Get Without A Medical Exam?

Output: The most Life Insurance I have heard of being able to get without a medical exam is $ 500,000 in one policy . However , you can purchase more than one life insurance policy without a medical exam . It would not be difficult to purchase $ 1,000,000 of No Exam life insurance by purchasing 3 policies .


Input: How Much Life Insurance Can I Get Without A Medical Exam?

Output: It depends on the insurer and the type of life insurance , but I personally have not seen any amounts larger then $ 250,000 without a medical exam . However typically you will find that most insurers are uncomfortable with underwriting such large policies without a medical exam . Most often it will be about 1/5th to 1/3rd that amount . However there are certain variables that may come into play depending on the situation .


Input: How Much Life Insurance Can I Get Without A Medical Exam?

Output: There are policies that offer up to $ 350,000 without any exam at all , and up to $ 1,000,000 with just a paramed exam that does not include a blood sample . Some will take an oral swab in place of blood test . If you take two or more No Exam policies with different companies , you can get a pretty large amount of coverage with no exam at all .


Input: Can Debtors Collect Life Insurance?

Output: A debtor can collect on the proceeds of a life insurance policy if that party is the beneficiary of a policy . It can depend on what state you reside in as to whether your life insurance proceeds can be exempt , if you are beneficiary because of statues you should not have any problems . The Creditor would have to know also that the policy existed to be able to pursue the debt in this manner . There are state and federal statues regarding creditors rights in insurance . Insurance was developed to protect against contingencies that might financially interfere with the proceeds that were set up for someones loved ones .


Input: Can Debtors Collect Life Insurance?

Output: Debtors who are collecting on a debt left by the insured person who died , can not collect it from the life insurance left to the beneficiary , unless the beneficiary was co-signer on the debt . If the debt was incurred by the beneficiary , then debtors can come after the life insurance that the beneficiary collected upon the death of the Insured .


Input: Do I Need Part C Of Medicare?

Output: You do n't `` need '' Medicare Part C , but you may choose to have it as your Medicare coverage . Medicare Part C is really known as the Medicare Advantage Plan . It acts like an HMO or PPO . Part C combines your Original Medicare Part A -LRB- hospital -RRB- and Part B -LRB- medical -RRB- , and usually Part D -LRB- drugs -RRB- . It 's important to note that if you have Medicare Part C -LRB- Medicare Advantage Plan -RRB- , you do n't need a Medigap Policy and ca n't be sold one to help supplement your health care . You can only purchase a Medigap Policy -LRB- Medicare Supplement insurance -RRB- , if you are still on Original Medicare Part A and Part B . There are a lot of moving parts to Medicare . Please let me know if I can be of further assistance .


Input: Do I Need Part C Of Medicare?

Output: Part C is not a requirement of Medicare . It is often referred to as Medicare Advantage . A Medicare Advantage plan can have Part D -LRB- prescription drugs -RRB- included in the coverage , a Medigap Policy can not . You must have Medicare part A -LRB- hospital -RRB- and Medicare part B -LRB- medical -RRB- to enroll in a Medicare Advantage plan or a Medigap Policy -LRB- Medicare Supplement -RRB- .


Input: Do I Need Part C Of Medicare?

Output: Medicare Part C is a catch-all for Medicare Advantage plans . When you enroll in an MA plan you are no longer in original Medicare but rather are in a `` privatized '' Medicare system . So you either have original Medicare -LRB- Part A and/or Part B -RRB- or you have an MA plan , but you do not have both .


Input: Will Car Insurance Cover Car Seat?

Output: Car insurance will , for the most part , cover for physical loss or damage to your car for a fairly wide rage of causes . This is , however , for the most part limited to the car as it came off the manufacturer 's line including any components that are permanently installed . So , if your car has a car seat that was permanently installed by the manufacturer , then it would be covered as part of the car . If , however , as in most cases , it is portable and installed by use of the belt system , then the car policy would provide no coverage . You would , however find coverage for it as personal property under your Homeowners , Condo Unit Owners ' or Rental Insurance policy .


Input: Why Contribute To A Retirement Plan?

Output: Contributing to a retirement plan is basically paying yourself first . Contribution to a qualified retirement plan is paying your self first and giving yourself a tax deduction and some plans have employer matched contributions . Paying yourself today will determine how you live tomorrow .


Input: When Can You Switch Homeowners Insurance?

Output: Most insurers will allow you to cancel coverage and replace coverage at any time . The company whose policy is being cancelled may charge either a minimum earned premium or a `` short rate '' cancellation but they will refund the balance of the paid premium . Mortgage companies work with this routinely . In summary you should determine the price on the new policy and then determine the cost , if any , of canceling the existing policy before making a decision .


Input: Where Can I Find Health Insurance Quotes?

Output: There are many sites where you can get instant health insurance quotes online . When you visit a page that provides online quotes , you follow the prompts on the screen . When it comes to health insurance , I always recommend consulting with an experienced broker because of all of the moving parts involved and it can be difficult for some to compare plans.You can run instant health quotes on my website if you 'd like -LRB- link available on my profile page -RRB- as well as other types including life , disablity , senior insurance , etc.Please let me know if I can be of further assistance . Thanks very much .


Input: Where Can I Find Health Insurance Quotes?

Output: Health insurance quotes are provided by may resources including experienced brokers and their top-rated websites . With more than 33 years as a health insurance broker , that 's what we do best . We shop for consumers so they can save . There are other ways to get quotes , including directly through the carrier -LRB- you do not get a lower rate -RRB- or through the . gov Exchange website ... assuming it is working !


Input: What Is Aetna Medicare Advantage Plan?

Output: This is a Medicare Advantage Plan offered by Aetna . Several companies offer Medicare Advantage Plans . Medicare Advantage Plans are compensated by Medicare to administer claims . They will pay instead of Medicare . As a result most Medicare Advantage Plans offer more benefits than Original Medicare . There is also far less out of pocket exposure . Medicare Advantage Plans , unlike Original Medicare , will have a network of doctors that you must utilize , similar to the networks under most group plans .


Input: What Is The Smallest Life Insurance Policy You Can Get?

Output: The smallest life insurance policy I know of has a $ 1,000 face amount . The policies with very small face amounts are almost always `` no exam '' policies , and are generally geared toward final expense needs . Medically underwritten policies that require an exam usually have a minimum face amount of $ 50,000 to $ 100,000 or more .


Input: Does My Homeowners Insurance Cover My Cell Phone?

Output: Your cell phone is personal property . Your homeowner 's policy covers personal property . Claims are adjusted and you might be offered less than the replacement cost . The company would be responsible to pay the adjusted value minus the deductible . You might find that you would n't get any payment .


Input: Does My Homeowners Insurance Cover My Cell Phone?

Output: Great question ! Your phone should be covered , especially if it was damaged or stolen while in your home . The bigger question is what will they give you for it - if your policy pays `` actual cost '' , you may not get much for the phone , especially if it is an older model phone . If your policy pays `` replacement value '' , they will pay for the cost to replace the phone . The even bigger question ? Does your phone cost more than what your deductible is ? If not , you are better off just buying a new phone , and not filing a claim . If you need help , please feel free to contact me . Thanks for asking !


Input: Does Homeowners Insurance Cover Renters?

Output: If someone is paying you to live in one or more rooms of the home that you occupy and insure , most homeowners policies exclude coverage on their personal property . The person renting from you certainly hasnt a legal ground for coverage . The renter can purchase an individual renters policy to provide coverage for their own personal property .


Input: Does Homeowners Insurance Cover Renters?

Output: A Homeowners '' Insurance policy form specifically provides coverage provided that the property is the primary residence of the named insured and property owner . Thus , if you decide to live elsewhere and rent your property , your Homeowners policy might not provide any coverage for you should anything occur . It would not under any circumstances provide coverage for your tenants . Best to discuss this with your Insurance Professional .


Input: Who Is The Cheapest Home Insurance?

Output: The cheapest homeowners policy is the one that pays all of the damages that you sustain -LRB- minus the deductible -RRB- when you have a claim . Anything less than that is expensive . It isnt the premium that matters ; it is the limits of coverage . A good agent will make sure that the limits match your needs so that when a claim happens there is adequate coverage .


Input: What Happens When My Life Insurance Policy Matures?

Output: If by matures you mean the end of the policy period , like the end of 20 year term life insurance policy , without converting it to a permanent policy coverage is terminated . If by matures you mean a permanent policy that endows at age 100 or age 121 , then there are a couple of scenarios . Unless otherwise stated in the policy , coverage ends on the maturity date . All policy loans of cash value , whether internal and/or borrowed out are recharterized as phantom income and the gain is taxed as ordinary at the effective tax bracket rate of the policy owner .


Input: What Life Insurance Companies Have Failed?

Output: Insurance companies are regulated by individual states . States provide guarantee associations which keep coverage in force as long as premiums are paid or there is cash value . This is often accomplished by transferring policies to another insurance company . The policy terms could allow that the policy be terminated . If this is happening to you right now , continue making premium payments to keep coverage in force .


Input: What Life Insurance Companies Have Failed?

Output: I could not personally answer every life insurance company that has failed recently . However , I can tell you that roughly 80 life insurance companies have failed in the last 40 years , so not all that often . When a life insurance company fails it goes into receivership versus bankruptcy . This process is handled by the courts that take the companies remaining assets to pay claims on a percentage basis to policy holders . Next to be paid would be creditors of the business on a percentage basis . Last to be paid would be the agency and agents themselves . Usually at this point the funds have all been dispersed and if the agents were advanced commissions , they too would repay the company by court order .


Input: What Does Renters Insurance Cover?

Output: A renters insurance policy will typically provide coverage for your personal property less your policy deductible in the event of a covered loss -LRB- fire , smoke , and lightning to name a few -RRB- . Liability coverage is normally also part of the policy that may provide coverage in the event that someone is hurt while in your rented premise that you are deemed responsible for . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: What Does Renters Insurance Cover?

Output: If you apartment was on fire and all your personal belongings were gone , where will you stay temporally ? Renters insurance will provide you with temporal hotel accommodation . If you were having a party at your apartment and one your guest slips and falls on your wet kitchen floor and breaks their hip and ambulance came took them to hospital and the medical bill is $ 28,000 . Now who do think is responsible for that ? YOU my friend ! Let say you loaded you car with your personal stuff worth say $ 5000 going on vacation to Florida . You car overheats at point and caught on fire and both your car and its content are gone . Assuming you have physical damage insurance on your car , your car insurance company with replace the fair market value of vehicle minus any applicable deductible . They will not replace your vehicle content of $ 5000 . If you had renters insurance for your apartment , they will cover your personal stuff in vehicle .


Input: What Is Custom Whole Life Insurance?

Output: Custom whole life insurance is a company specific product that allows you to select how many years you will pay on your whole life policy before it will be paid up . If the premium paying period is shortened the premium deposits will be increased , however , the cash value will increase more swiftly , lowering the cost for insurance and ultimately the cost for owning the policy . A single premium whole life insurance policy is , from that perspective , the least expensive policy that you can purchase .


Input: Can The IRS Levy Life Insurance Proceeds?

Output: Once constructive receipt of life insurance proceeds enter the beneficiaries account , it becomes an asset . If the IRS levies the account , the life insurance funds are commingled with the other funds in the accounts and can be collected . It important for beneficiaries to remain unencumbered with financial liabilities , especially when they may be receiving life insurance proceeds .


Input: What Are Life Insurance Gains?

Output: When money is taken out of an existing life insurance policy and the amount taken exceeds the total of premiums paid it is considered a gain and can be taxed as such . In such a situation the insured will often borrow the money from the policy . There may be additional tax considerations


Input: Does Medicare Pay For Avonex?

Output: Yes , Medicare does pay for Avonex for treatment for Multiple Sclerosis . However , there is a copay , so expenses for Avonex can still be quite high for the insured person with MS. There are some prescription assistance programs that can be used to assist in paying for the copay associated with Avonex . See WEBSITELINK for more information .


Input: How Many People Own Life Insurance?

Output: This stats are taken from LIMRA : Thirty percent of U.S. households have no life insurance at all ; only 44 percent have individual life insurance . Fifty percent of U.S. households -LRB- 58 million -RRB- say they need more life insurance . The average amount of coverage for U.S. adults has declined to -LRB- 167,000 -RRB- , down $ 30,000 from the average coverage in 2004 . While 4 in 10 households with children under 18 now include a mother who is either the sole or primary earner for her family yet , among women who have life insurance , their coverage is only 69 percent of the average coverage on men .


Input: Do I Need Homeowners Insurance In A Condo?

Output: Your HOA policy will only cover a portion of your actual risk . HOA 's may cover walls out and sometimes the entire until but what HOA 's do not cover is your personal property , potential loss assessments and your own personal liability which is the biggie . Condo polices are very inexpensive and offer a whole lot of protection . Plus if you obtain your policy from your auto carrier you may receive additional discounts on your auto policy .


Input: Does Long Term Care Insurance Pay For Nursing Home?

Output: Yes , Long Term Care Insurance can pay for nursing home expenses , or for extended care offered by assisted living , or even in home services , in some situations . Long Term Care Insurance kicks in when the insured person meets certain triggers -LRB- inability to do two or more activities of daily living such as showering or dressing without assistance , cognitive impairment , and/or the care is ordered by a doctor -RRB- . Payments can go directly to the nursing home or place providing that care , or the payment can go to the insured person , who in turn pays the source of his/her care .


Input: Can You Deduct Homeowners Insurance On A Rental Property?

Output: This is more of a question for a tax adviser , however based on my knowledge the answer would be yes , insurance on a rental property would be a deductible expense in most situations . Any business can deduct business expenses paid . Since rental property is a source of income , any expenses related to that property would be deductible .


Input: When Does A Widow Qualify For Medicare?

Output: A widow will qualify for Medicare when they turn age 65 . This assumes the widow or the spouse worked and is a US citizen or permanent resident of the United States . The person would get Medicare Part A & B plus they should consider a Medicare Supplement Plan -LRB- Medigap Plan -RRB- . Medicare Part A is typically free and covers hospital care . Medicare Part B has a premium of around $ 105 per month for most people which covers doctors and tests . Medicare Supplement Plans can vary based on which plan and what state a person lives in . For more information or to run a Medicare Supplement quote visit our website .


Input: Is My Life Insurance Safe?

Output: Life insurance companies are highly regulated by the states in which they do business . Historically , life insurance companies have been very safe and very reliable for paying claims . There are also life insurance state pools that provide a safety net if a life insurance company would default on its contracts . Typically , if a life insurance company struggles , it is bought by another company and all the policy contractual agreements are honored by the new company .


Input: What Is A Medicare Levy?

Output: If you are a senior with a high income -LRB- above $ 85,000 for those filing their tax return as single , above $ 170,000 for those married filing jointly -RRB- , you will pay a surcharge in addition to your standard Medicare Part B premium -LRB- $ 104.90 in 2014 -RRB- . The penalty you pay varies depending on your modified adjusted gross income -LRB- MAGI -RRB- from two years prior .


Input: Is An Annuity A Qualified Retirement Plan?

Output: Is an annuity a qualified retirement plan ? NO . An annuity can be `` used '' in or as part of a qualified retirement plan . An annuity on it 's own is not a qualified retirement plan . Where people get confused terminology wise is when they have a product -LRB- like an annuity -RRB- in their retirement plan , so they consider the annuity to `` be '' the retirement plan . The easiest way to think of retirement plans is they are a box , that stuff goes into . A qualified retirement plan is a box that you can put stocks , bonds , mutual funds and annuities into . The `` box '' is what makes them `` qualified . ''


Input: Is An Annuity A Qualified Retirement Plan?

Output: An annuity is inherently a non-qualified insurance product . A qualifies plan is generally an ERISA -LRB- The Employee Retirement Income Security Act of 1974 -RRB- sanctioned retirement plan like an employer sponsored 401 -LRB- k -RRB- or an individual plan like an IRA . You can fund a qualified plan with an annuity , but all distributions from the annuity in the qualified plan , including basis , are taxable as ordinary income .


Input: Does Aetna Student Health Insurance Cover Dental?

Output: Most student health plans provide limited benefits and are overpriced . For about the same premium you can usually get a true major medical plan . Student health plans usually include benefits centered around the student health center and possibly an affiliation with a local hospital . Pre-existing conditions may not be covered at all or there will be a delay of up to 12 months before they are considered a covered expense . Also the health policies have an expiration date , usually coinciding with the school year . Dental benefits , if included , are most likely limited to treating injury to your teeth .


Input: Does Aetna Student Health Insurance Cover Dental?

Output: It depends on the policy , but you can add it on to most policies . Some of the policies will have it included since most health plans are a `` plan '' that has set features including deductibles , copays , etc so look at all of the features and determine which fits what you need .


Input: When Not To File A Car Insurance Claim?

Output: If there is no one else involved in the accident and the cost to repair the damage is within your means to pay , PAY IT out of pocket ! Do n't put marks on your insurance history unless you have to . Save your insurance for the large losses -LRB- lets hope you never have a large loss -RRB- . Too often the loss of discounts , rewards , and surcharges exceed the cost of the cost of the repair . Customers get upset out it later and wished they had asked before . Good question and my advice be sure you have insurance with a company that has an agent that you can trust to ask questions , just like this !


Input: When Not To File A Car Insurance Claim?

Output: This is a question you should always consult with your agent when a situation arises . Your agent should be able to properly advise you on the pros and cons of filing a claim for any given situation which will provide you with enough information to make an informed decision on whether or not to file a claim .


Input: When Not To File A Car Insurance Claim?

Output: Filing a car insurance claim for minor issues could result in an increase in what you pay , so you do want to consider a few things before you file a claim . 1 -RRB- Is this claim something I can pay for on my own ? If the answer to this is yes , you may be better off paying it and not filing a claim . 2 -RRB- How much is my deductible ? If your deductible is $ 500 , and the damage to your car is $ 700 to repair , you are still going to pay the majority of the cost yourself . You should try to pay the entire amount , and not get your insurance involved . 3 -RRB- Was someone else responsible for the damage ? If someone else caused the damage , it is very possible that THEIR insurance will need to pay for the damage . In this case , you have two options : contact their insurance and file your claim against their insurance , or file a claim with your insurance , and explain that the other driver was at fault . Your insurance will then pay your claim , but will seek repayment from the other driver .


Input: When Not To File A Car Insurance Claim?

Output: Generally speaking , if it is a minor physical damage loss to your car , namely somethingwhere the repair amount falls under your Comprehensive or Collision Deductible , you may want to think about not filing a claim . In all cases , however , discuss your options with your Insurance Professional . Keep in mind that if you have `` Full Glass '' coverage and/or Roadside assistance -LRB- Towing -RRB- , these are not subject to your deductible so they are worth filing . Again , your Insurance Professional is your best resource . Insurance companies review policies for both the size of claims paidand the frequency that claims are reported . Both can affect your rates down the line .


Input: How Much Does A Long Term Care Insurance Policy Cost?

Output: We 've entered into a new phase of the development for covering the risk of having to pay for long-term care costs and therefore , a new phase of designing coverage . The consumer does n't have to pay a fortune for at least some coverage , but expectations over how much risk one can afford to transfer to an insurance company may require some reality therapy.A base plan for a couple can cost around $ 3,000 - $ 5,000 per year depending on age . The design is simple : a fixed pool of money with as much access to it -LRB- maximum daily or monthly benefit -RRB- that one can afford . There is no accommodation for inflation and no riders , except perhaps the `` monthly home care '' rider which if not part of the contract should be added . It does n't cost much as a rider . The pool should be around $ 300,000 , if possible.A value plan for a couple can cost between $ 5,000 and $ 7,000 per year . The design includes the lowest cost inflation rider , monthly home care rider -LRB- if not included in the base plan -RRB- and maybe survivor waiver of premium . The pool of money to pay care costs and daily/monthly access to it should be as much as can reasonably afforded.A premium plan -LRB- which we used to illustrate routinely five years ago -RRB- for a couple can run from $ 9,000 - $ 14,000 / yr . depending on which combination of bells and whistles you want and can afford . This design would include one of the automatic annual 5 % compounded or simple benefit increase riders . Available riders could include shared-care , spousal waiver of premium , 0-day elimination for home care , non-forfeiture rider , and/or return of premium . Other riders , depending on the carrier , may be available . NOTE : This design is most likely to experience in force premium increases over time due to the uncapped benefit increase rider.For a single person , drop the above range of numbers down $ 1,000 for the base plan , $ 2,000 for the value plan , and $ 3,000 - $ 4,000 for the premium plan.These are all VERY ROUND numbers . The point is that columns and articles in the press recently have only looked at the old way of thinking about long-term care . It 's pointless to dredge up old statements by insurance companies which at the time reflected their ignorance of a -RRB- how many people would actually use their policies , b -RRB- how many would keep them in force if premiums rose - the lapse ratio is 1-2 % , about the lowest in the insurance industry - adjusting their benefits to stay in the game , and c -RRB- how few people would buy long-term care insurance - the percentage of Americans owning their own coverage is about 7-8 % and holding.The probability of needing to pay for some or all of the costs of extended professional care at home or in a facility is still relatively high as we live longer , but not necessarily better . No LTC insurance policy can promise to pay all care costs , but is anyone going to be turn away a payment from an insurance company that covers half of those costs?Some coverage is better than none .


Input: Is Long Term Care Insurance Premium Deductible?

Output: Your long term care insurance premium is deductible if you have a qualified -LRB- TQ -RRB- long term care insurance policy . That is because the US government now recognizes LTC premiums as a medical expense . If you have a non-qualified long term care insurance policy , the premium is not tax deductible .


Input: Does Renters Insurance Cover No Heat?

Output: No , under the provisions of a typical renters insurance policy no heat in the apartment or rented premise would not be covered by the policy . If you have an equipment breakdown endorsement on your policy the cost of repair to the heating unit may be covered possibly less your policy deductible . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: Does Term Life Insurance Expire?

Output: I know of some folks who bought 5 year term and still are paying after 9 years to keep it . That is just silly because the rates go up to be ridiculous . The smart thing to do is to get another term policy if you can , at least for 5 years more , and hopefully convert it during that time to whole life where the rates never go up . You need to talk with a professional . Call please . Gary Lane , Registered Representative , New York Life , 949 797 2424 . Thank you .


Input: Does Term Life Insurance Expire?

Output: Term life insurance policies do eventually expire . Some expire at the end of the term . Some become annually renewable term policies at the end of the term , then expire some years after that . Whether or not your term policy expires , the price usually becomes unaffordable at the end of the term you originally took out . It is better to convert your policy to permanent insurance before your term ends , if you have that option . With many term policies , converting them to permanent will allow you to lock in a premium for the rest of your life .


Input: Does Term Life Insurance Expire?

Output: When you first purchased your term life insurance policy , one of the options you designated was the term length -LRB- 10 , 15 , 20 , 25 , or 30 years -RRB- in which the premium would remain locked in place for and could not increase . At the end of the designated term length premium guarantee period , the policy will do one of two things : 1 -RRB- the premiums will begin to increase each year by a substantial margin -LRB- based on age -RRB- 2 -RRB- the premiums will remain the same , but the death benefit will rapidly decrease -LRB- this method is only used on some term policies that are issued on a universal life chassis -RRB- What you will commonly see is the first method . For example , if you purchased a 20 year term policy and outlive the 20 year period , the premiums will start increasing in year 21 . Since the premiums will keep going up and up , most people replace the term policy with a new life insurance policy -LRB- term or permanent - depending on need and age -RRB- to create a new premium guarantee period . Note - the new policy will feature a higher rate structure -LRB- for the same coverage structure -RRB- as your older and due to any changes in health history - to accommodate this , you can adjust the face amount or length of coverage to reduce the premium of the policy . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much .


Input: Does Term Life Insurance Expire?

Output: That is a great question ! Term life insurance is defined exactly by the name . The policy is active for the defined length of the term , at which point it expires , and your coverage ends . Most policies will state specifically the end date - 5,10 , 15 , or 20 years most commonly . The policies advertised so heavily by companies like AAA , AARP , and others will end the day you turn 80 . Sometimes that point is obscured by marketing or fine print , and many elders find out too late what they 'd purchased . The only other way your term policy will end is if you miss payments . Please check with a trustworthy agent before you purchase anything . I hope that helps , thanks for asking !


Input: Does Term Life Insurance Expire?

Output: Most of the competitive individual term life policies these days provide for a guaranteed level premium period of between 10-30 years . At the end of the level period , if the coverage does n't terminate automatically , the premium usually increases so significantly , most policyholders do n't renew it . The coverage should be converted to a permanent policy before that time -LRB- while in the conversion period -RRB- or , if you are still insurable , work with a life insurance professional to find a new policy . Keep in mind that term eventually is not available due to age or insurability reasons . Buy permanent coverage as soon as possible to prevent your coverage terminating before you do .


Input: Does Term Life Insurance Expire?

Output: It ends once the term is up . If it is a 15 year term , you are no longer covered after that time frame is up . The best thing to do is to purchase a permanent life policy at a young age although most people do n't always understand that . Most will see that permanent is more expensive than term initially , but never consider the fact that they will either have to convert that policy to a permanent policy or buy one later on both of which will cost substantially more than if the purchased a permanent policy in the first place . They often do n't consider that they may no longer be insurable and ca n't purchase a life policy due to some medical condition .


Input: Does Term Life Insurance Expire?

Output: Term insurance will expire at some point in time as term policies are closed contracts which have a beginning and an end . With newer term policies the end comes between the ages of 90 to 95 . Many of the older term policies written end between the ages of 70 and 80 . If you have an older term policy , check to see when the policy ends and if there is a conversion option if you need coverage longer than you previously thought you would . As Jerry mentioned most term policies written currently have level premium periods of 5-30 years , but still have a life after in most cases . The cost after the level period expires will be much higher and increase every year after until the policy ends .


Input: Does Term Life Insurance Expire?

Output: As long as you pay the required premium , the term life policy will not expire until the end of the term . Even at the end of the term , most term policies are renewable on annual basis . Term life policies are guaranteed level with many companies so be sure you look at the policy premiums for the term you are looking for .


Input: Does Homeowners Insurance Cover Dry Rot?

Output: The best way to look when filing a claim on your home is to ask this question . Was the damage sudden and/or accidental . Dry Rot is something that happens over a period of time and really falls on the homeowners as part of maintenance of his or her property . As we like to call , Pride of Ownership . So in other words dry rot is not a covered peril .


Input: Does Homeowners Insurance Cover Dry Rot?

Output: I am going to have to give you the boring insurance agent answer : You need to check your policy and the perils -LRB- cause of loss -RRB- too see if your policy does indeed cover the loss . There are many home insurance policies and I can not comment on your policy , coverage and so on . However , I will say in my opinion this is a maintenance isse and would not be covered on your home insurance policy . It does get frustrating as a homeowner because you can not see everything but we are still responsible for the upkeep and maintenance of our property . Heck I recently had a hail storm in my area and had to put in a claim on my home and found I had dry rot on some window frames and had to deal with this issue myself .


Input: When Should I Buy Long-Term Health Care Insurance?

Output: Stand alone long term care insurance policies can be very expensive and generally are not a fixed premium so may well go up over time . When you purchase long term care as a rider on a whole life policy you will get the lowest premium rate for it that is available . So really then the best time to buy long term insurance is when you 're buying a whole life policy . If you already have a whole life policy without the LTC rider , you could either buy an additional policy or exchange your current policy for a new one and add the LTC rider .


Input: When Should I Buy Long-Term Health Care Insurance?

Output: A good time to buy Long Term Care insurance is before you have a serious health condition . LTC rates are based on health , especially the type of ailments that are more common among older people , such as crippling arthritis or stroke . Since the chances of one 's health deteriorating greatly increases in one 's 50 's and 60 's , it is a good idea to purchase Long Term Care Insurance in one 's 50 's , while you can lock in a good rate .


Input: When Are Annuities Taxed?

Output: Non-qualified tax deferred annuities that have gain in their contract will pay ordinary income tax on the distributions , whether by withdrawals , period certain payouts or life only annuitization . Distributions of basis are tax free . You only pay taxes on an annuity when distributions are made or at the death of the annuitant .


Input: When Are Annuities Taxed?

Output: Annuities are taxed when benefits are distributed . If the annuity is a part of a Roth IRA or Roth 403 -LRB- b -RRB- the benefit is tax free if the contract is at least five years old and the annuitant is 59.5 years old . Tax treatment of other annuities depends on the portion of the annuity that was purchased with after-taxed dollars , in which case the taxation is on the interest earned . If the annuity is inside an IRA or 403 -LRB- b -RRB- it will be taxed as ordinary income .


Input: What Are The Best Annuities To Buy?

Output: To determine whether an annuity is best for you , you need to establish a personal financial profile that includes a risk tolerance assessment and your life expectancy . Annuities have three basic crediting methodologies : fixed interest rate crediting , indice crediting and separate sub account crediting or debiting . The second item to determine is your effective tax rate . Once you have established these two parameters , financial profile and tax bracket you can review the top ranked annuities that are suitable for you .


Input: Can I Sell My Whole Life Insurance Policy?

Output: Life settlement companies may be interested in buying your whole life insurance policy . Generally , the insured person must have very advanced age or poor health for them to consider such a purchase . There are other options , such as having a relative pick up the premiums , setting up your policy to fund the premium , or cashing it in for surrender value . Contact someone you trust for assistance in making this decision .


Input: Can I Sell My Whole Life Insurance Policy?

Output: Could be . Just make sure you know what youre gaining , and what youre losing . What if you sell it , and then need coverage again ? Would you be eligible , considering your medical condition and lifestyle ? Of course , you do understand the price would be higher simply because youre older than when you had taken out that policy originally . What about the cash value of the policy ? That might be higher than the selling price . Think about that . Do your research . Also remember that with whole life insurance , you would be parting with a product that gives just about the best guarantees around . Guaranteed premium . Guaranteed death benefit . And guaranteed cash value . Take a quick survey of the marketplace and see if any of other product gives you a better rate of return on the guaranteed cash . Having said all this , if you are dead set on selling the policy , you have to find a good settlement company with whom to do business . They are a dime a dozen . Get a referral to some good ones . Interview them . Let them compete for your business . What is the most one would pay ? You should know that they will underwrite you . Your age and medical condition are key . They will not take all comers . Older , and frankly sicker , insureds are their preference . You may not even be eligible . If that is the case , look again at your life insurance options . You might be able to get better value from a guaranteed universal life product . Would you like to keep learning ? Check my blog : planrisklive.com .


Input: Can I Sell My Whole Life Insurance Policy?

Output: That is a great question ! There are companies out there that make a living off of other people 's hardships , and there are certainly ones that would buy your policy . I have to ask you why you are even considering this . They will not pay you near the face value , and you will be without coverage if you sell it . If you need cash , have you considered taking a loan out of the cash value ? Your coverage continues , and the process of getting the cash is very simple , and quick . Please consider talking this decision over with someone before acting upon it , okay ? Thanks for asking !


Input: Is Aflac Long Term Care Insurance?

Output: Aflac is not long term care insurance . Aflac stands for American Family Life Assurance of Columbus , and the company sells a number of types of policies to groups and individuals . They do not carry a specific long term care insurance policy , although a few of their policies cover conditions that can lead to the need for long term care .


Input: Is Life Insurance Taxed In Texas?

Output: Life insurance in Texas is not taxed for income tax , in most situations . Life insurance proceeds do fall under the value of the estate if the policy owner is the deceased , and the one with the estate . If his/her spouse is no longer alive , federal estate taxes will be charged on the excess about the exempted amount , which is $ 5,250,000 in 2013 . Texas does not have a state estate tax at this time .


Input: Is Military Retirement A Qualified Plan?

Output: No , military retirement is not a qualified plan . It does not offer a vesting schedule for early retirees , it does not require membership in the Pension Benefit Guaranty Corp , and the money received through their retirement plan is considered wages and not pension monies . Therefore , the retirement plan offered by the military is non-qualified .


Input: Is A 401K Qualified Or Nonqualified?

Output: 401 -LRB- k -RRB- refers to the section in the Internal Revenue Code -LRB- IRC -RRB- that permits employers to establish defined contribution plans for their employees . These plans qualify for special treatment under the IRC . Basically money can be contributed to a 401 -LRB- k -RRB- before it is taxed . This reduces the amount of currently taxed income . The money held in the 401 -LRB- k -RRB- can grow without incurring taxation . However , when funds are removed from the 401 -LRB- k -RRB- plan , the proceeds will be taxed as ordinary income except a contribution of after-tax income .


Input: Can I Add My Father To My Health Insurance?

Output: You would n't be able to add a parent to your health insurance plan because there are only certain dependents that are allowed to be added to your health plan - your spouse and your children/step-children . Since you can no longer be declined for health insurance due to a pre-existing condition or other health-related issue , your parents would be able to secure their own health insurance coverage . They may have group health insurance available through their employer if they 're still working . If they 're 65 or older , they would have Medicare as an option as well . I hope that helps answer your question . Please feel free to contact me for further assistance . Thanks very much .


Input: Can I Add My Father To My Health Insurance?

Output: Can you add your father onto your health insurance plan ? In most all cases the answer would be no . It will depend on what your plan allows in the dependent section . That would be where you start your review of this question . At this time I do not know of any plan that will allow a person to enroll as a dependent their parent .


Input: Does Everyone Get Medicare At Age 65?

Output: Everyone who is a legal resident of the United States and has paid into Medicare taxes for at least 10 years , will get Medicare at age 65 . If the person has not worked outside the home that long , they can get Medicare when they and their qualified spouse turn 65 .


Input: What Life Insurance Is The Best To Buy?

Output: Any life insurance agent who would tell you that there is only one best kind of life insurance to buy for every situation , is the kind of agent you should take with a grain of salt . The reason life insurance companies create so many types of policies is partly because of demand . Some products simply accomplish a certain purpose better than others . A reputable life insurance agent will visit with you to help you determine the best type of policy or policies to accomplish your financial goals and protect your loved ones . And in the process of that visit , you may save money by not throwing it after something you do n't need or want , too .


Input: What Life Insurance Is The Best To Buy?

Output: The best kind of life insurance to buy is custom fit for a specific purpose . Begin with clearly identifying your need for the insurance . Next , identify the duration you may need the policy or policies . Third , work to make sure it makes sound budget sense . Last , be sure to review your policy often as you needs might change ; what might have been best for you last year , may have changed by now .


Input: Does Dave Ramsey Recommend Long Term Care Insurance?

Output: Daves approach is to eliminate debt and self-insure for extended care . The value proposition of long term care has been questioned long before Dave addressed it . And Internet posting appear to confirm his self-insure approach with a little latitude that there may be exceptions to the rule . Daves debt reduction strategies are renowned for helping people get out of debt and stay on plan .


Input: Does Renters Insurance Cover Storm Damage?

Output: Yes , renters insurance would typically cover storm damage possibly less your deductible unless this type of damage was listed as an exclusion in the policy . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you .


Input: Can I Claim X Rays On Medicare?

Output: X-rays , CT scans , MRI and most diagnostic imaging tests are a covered item under Medicare Part B -LRB- and sometimes A -RRB- . Your doctor must have evaluated you personally and ordered the test as part of his or her diagnostic procedure . The imaging facility , clinic or doctors office will bill Medicare directly .


Input: What Term Life Insurance Should I Get?

Output: If you are asking what length of term life insurance to get , that depends on the need for which you are purchasing the policy . Generally , it is a good idea to lock in your rate for as long a term as possible , because no one knows what their health will be the next time they apply . Also , age makes a big difference in premiums , especially in men and those who need to add on table ratings due to a health condition . However , if you are buying life insurance to pay off a mortgage for which only 7 years are left , getting a short term policy makes more sense .


Input: What Term Life Insurance Should I Get?

Output: Product suitability for each proposed insured and the policy owner is very important , but bottom line the price rules the day . There are provisional nuisances that are important life convertibility to permanent insurance as one example . Gender , age , smoking status and health condition are personal factors that enter into the purchase decision . Some companies are more benevolent with impairments that others . Claims paying ability is very important , so a high ranked company is desirable .


Input: Can A Nursing Home Take Your Life Insurance Policy?

Output: There are limits on how much cash value can be in a Whole or Universal Life insurance policy in order to not exceed Medicaid asset guidelines . Term life insurance is not counted as an asset at all , since there is no cash value in Term insurance . If you do have a permanent policy with thousands of dollars of cash value , you have a number of choices . You can transfer ownership , but if entering a nursing home now , that will not protect it . You can possibly change it to a funeral policy , which is allowed . Or you can legally use the cash value to pay for nursing home care while holding onto some of the base coverage . Your social worker and life insurance agent can work together to make this the most favorable situation for you .


Input: Does Your Insurance Cover A Car You Just Bought?

Output: This will depend on if it is an additional vehicle or a replacement vehicle and how your policy treats replacement and/or additional vehicles . Only a reading of your policy can provide you with the specifics . Some policies automatically extend liability coverages to additional vehicles for a specified period of time . Some policies may provide physical damage coverage for a limited time.There is really no way to tell without referring to your contract of insurance . A competent knowledgeable agent or broker should be able to do this for you .


Input: Why Do I Need Medicare Part C?

Output: You may not need Medicare Part C. Medicare Part C has evolved into what is now referred to as Medicare Advantage plans . With an Advantage plan you are in a privatized Medicare system run by insurance carriers . Most Advantage plans have networks with strict penalties if you use a non-par provider and considerably more out of pocket than with original Medicare and a supplement plan .


Input: Does Medicare Cover Gym Memberships?

Output: Original Medicare does not cover gym memberships . Medicare Advantage Plans and some Medicare Supplements do ! This is one of the value added features of many Medicare Advantage Plans . If you want to be able to have a gym membership paid for look at the Medicare Advantage Plans in your ares .


Input: Can Medicaid Take A Life Insurance Policy?

Output: Medicaid allows persons going through a Medicaid spend down to hold onto a certain number of assets -LRB- $ 2,000 for an individual , much higher for a couple . -RRB- $ 1,500 of life insurance cash value in one policy is allowed in addition to that $ 2,000 limit . Let 's assume you are a widowed female in a nursing facility and your private funds are dwindling , so you are getting ready to go on Medicaid to pay your living and health care expenses . You have a life insurance policy with $ 10,000 cash value . What will happen to it ? 1 -RRB- You are allowed a final expense policy , so you could possibly assign that over to a funeral home or put it in a irrevocable trust to be used for funeral expenses . This would most likely be a feasible choice if the face amount of the policy is $ 15,000 or under . 2 -RRB- If the face amount is much larger than the cash value , you might be allowed to take a loan against your policy to get the cash value under the allowed amount , then use the loan to pay for your nursing home costs . That way you can still preserve your policy , even though you will be paying interest on the loan . 3 -RRB- In this example , there is no spouse , but if there was , you could transfer the ownership of the policy to your spouse , as long as it was compliant with Medicaid rules . If you have a disabled child , the policy could be transferred to a trust for them . 4 -RRB- You could convert your life insurance policy to a Long Term Care Benefit Plan that will enable you to keep a portion of the death benefit while legally using the policy to pay for your long term care costs . 5 -RRB- You could liquidate the policy and spend the cash on purchasing an allowable funeral policy or on your medical care .


Input: Does The SEC Regulate Annuities?

Output: Tax deferred annuities have three crediting methods : interest rate crediting , indexed crediting and separate sub accounts that use equity and bond and bond investments . Separate accounts in variable annuities are a registered security and fall under the jurisdiction of FINRA as well as the department of insurance in the state of issue .


Input: Is It Easy To Sell Life Insurance?

Output: I would have to say that it is not easy to sell life insurance unless you are gifted in a number of areas . A good life insurance agent must be a good listener as well as an articulate talker ; as good at handling written communication as at handling numbers ; have some medical knowledge in addition to financial knowledge ; be caring but professional . On top of that , you need the funds and training to get your feet on the ground and become successful . For the person who has all that in one package , selling life insurance could be easy . For most people , it is hard work .


Input: Is It Easy To Sell Life Insurance?

Output: Customers can not feel or taste life insurance . Life insurance rarely makes people laugh and fortunately it doesnt make them fat either . Life insurance is not tangible . Death is not a popular subject . Tolstoy wrote a novel about the death of man to illustrate who unaccustomed we are to dealing with that reality . However , on the other hand delivering a death benefit to a grieving family is very rewarding and motivates many of us . Everyone else visiting the grieving family comes with bills or condolences , we come with cash !


Input: Is It Easy To Sell Life Insurance?

Output: Life insurance is not easy to sell as many people have preconceived notions about insurance . Even though life insurance is something that almost everyone needs or wants , people often procrastinate on the life insurance purchase . It can be one of the most important financial decisions a family will make , but often it is put on the back burner . A big reason is that people overestimate the cost by 3 times the price . If people take the time to look into life insurance , they will find that it may be less expensive and an easier process than they think .


Input: How Do I Know If I Need Medigap Insurance?

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


Input: Is Long Term Care Insurance A Good Idea?

Output: Long term care insurance is a good idea if you have an estate to protect . Nursing home costs are very high and you will be required to liquidate assets in order to pay for them . If you have a long term care policy , the policy will pay those costs .


Input: Which Health Insurance Is Most Popular?

Output: Having worked in the health insurance business for over 35 years I can tell you the most popular health insurance plan is usually the one that delivers the least value and does n't work well when you need it the most . Popular plans have doctor and Rx copay 's but often only cover a few drugs . Popular plans have a lot of moving parts and an unpredictable maximum out of pocket .


Input: Which Health Insurance Is Most Popular?

Output: It depends on where you live and what you mean by most popular . Some area 's have local HMO 's that are very popular in that area . As far as size United Health Care insures more people worldwide than any other company . Anthem / Blue Cross Blue Shield , Aetna , Humana are also large companies on a national level that are very popular .


Input: What Is The Best Health Insurance In Kentucky?

Output: This question can not be answered without more detail . Where you live , the health services you use , and what providers you prefer must be taken into account . While the Kynect exchange is the easiest in the country to use , the number of options available requires a great amount of research or knowledge to truly find the best coverage for an individual . A navigator or connector can provide information , but only agents and brokers can recommend specific policies , and there is no additional cost for this service . You can find navigators , connectors , and agents by clicking on the Assistors button at the top of the page within Kynect .


Input: How Much Should I Invest In Annuities?

Output: It depends on your circumstances . Never invest all of your funds in one vehicle . You need to keep some funds in liquid sources and then diversify the rest according to your individual circumstances , goals and comfort level . Whatever vehicle you choose to do this , invest as much as possible but make sure you understand the limitations and accessibility factors involved . A good independent agent or financial adviser can help you


Input: Can Health Insurance Be Denied For Pre Existing Condition?

Output: No and yes . Under the requirements of the Affordable Care Act -LRB- ObamaCare -RRB- anyone applying for major medical health insurance coverage after January 1 , 2014 can not be denied coverage for a pre-existing health condition . Insurance coverage is guaranteed to be issued and must cover pre-existing conditions immediately . However , this does require that you enroll for individual health insurance coverage during the mandated open enrollment period which for 2014 ended on March 31st . If you failed to enroll during the open enrollment period then you can not apply for major medical insurance coverage until the next open enrollment period which begins on November 15th for an effective date of coverage of January 1 , 2015 at the earliest . The only exceptions to this part of the law are for what are referred to as `` Change of Life Status Events '' such as marriage , divorce , losing other health insurance coverage , or having or adopting a child -LRB- as the most common examples -RRB- . For the remainder of 2014 the only options available to persons who failed to enroll during the open enrollment period would be Short Term Medical insurance or perhaps a limited benefit/indemnity policy . However , these policies do still have some underwriting question associated with them that could result in your being declined for coverage . Also , these types of health plans do not cover pre-existing health conditions and do not meet the criteria under the Affordable Care Act for being major medical coverage . Therefore , you would be subject to the individual mandate tax penalty even if you do take out one of these types of policies .


Input: Is Life Insurance Exempt From Creditors?

Output: If the creditor is going after money owed by the insured person who passed away , the life insurance is exempt from creditors if the beneficiary of the policy was a person . Creditors can not take the life insurance proceeds from a beneficiary unless the beneficiary co-signed the debt with the insured person , or has debts of their own for which creditors are seeking payment .


Input: Can I Add My Mother To My Health Insurance?

Output: You would typically not add your mother to your health insurance plan - additions are generally limited to spouse and children . There is not a savings in premium , so you 're not missing anything there . I understand you might be trying to include her in a family deductible , but if you fill out an application , you 'll notice that there is not a spot where you could enter `` mother '' .


Input: Can BMI Affect Life Insurance?

Output: Body Mass Index -LRB- BMI -RRB- does impact the premium for life insurance . BMI or simply the height and weight of the proposed life insured is a key factor in preferred risk guidelines . Favorable height and weight combinations can mean preferred rates . Average combinations will mean standard rates as a starting point for underwriting . Unfavorable combinations may mean substandard rates at best . Height and weight charts can vary significantly by life insurer . An independent life insurance professional can survey a wide variety of insurers to help you select the best ones to apply with for the best possible outcome .


Input: Can BMI Affect Life Insurance?

Output: Although Body Mass Index -LRB- BMI -RRB- is not one of the primary underwriting factors , it is directly connected to the Height and Weight parameters which are always primary items that are asked on an application for health insurance . An applicant that has a higher than normal BMI would be assumed to be overweight ; whereas an applicant with a lower than normal BMI would be assumed to be under nourished . Both of these situations would be deemed as a greater than normal risk to carrier ; should this condition exist , the applicant may be better off with an non-underwritten -LRB- guaranteed issue -RRB- life insurance policy . For a health insurance quote and/or application , you may follow the link : WEBSITELINK


Input: Can BMI Affect Life Insurance?

Output: BMI -LRB- Body Mass Index -RRB- numbers between 18 and 50 are the outer minimum and maximum parameters of what most life insurance companies will cover with a medically underwritten policy . If a person is extremely underweight or malnourished -LRB- BMI under 18.5 -RRB- or morbidly obese -LRB- BMI over 40 -RRB- , there are simplified issue policies for nearly every BMI , depending on one 's age and state of residence . For those with normal BMI , life insurance rates will be in the Preferred range as long as everything else is Preferred . For those who are overweight , the BMI will be part of the determination in what rating to give , along with other health factors .


Input: What Is The Monthly Cost For Medicare Part D?

Output: Since Medicare Part D plan are sold by different companies and in different options , the prices vary . You can anticipate a cost of approx $ 25 to $ 100/month in my area , depending on the bells and whistles of the plan . This can be higher or lower based on where you live .


Input: Will Homeowners Insurance CoverA Retaining Wall?

Output: HO-3 homeowner policies have coverage for `` adjacent sturcture '' . The question is how is this wall constructed and how does it influence the coverages of the policy . Is it a `` retaining wall '' designed to protect the house in some fashion ? When the home is first insured the company will send an inspector to view the property . If that `` retaining wall '' is interfering with the safety of the home they will refuse to cover the property .


Input: Will Homeowners Insurance CoverA Retaining Wall?

Output: Normally retaining walls are not included as part of the standard coverages in a homeowners policy . Your homeowners policy was designed to protect your home so that you have a place to live . It was n't designed to protect things that are n't part of the building . Now , there are optional coverages that some companies will offer and there may be coverage for a retaining wall in certain situations . It really depends upon your specific policy and what happened to the wall . Coverage is usually triggered by a specific event that is sudden and accidental . Settling of the wall is not a sudden occurrence and would n't normally be covered . However , if your wall is damaged by a storm or a fire , there may be coverage . Find an agent you can trust and they can help you figure out the best way to protect your property .


Input: What Should I Pay For Renters Insurance?

Output: I just wrote a renters policy and the annual premium was $ 92 / year . While that is on the low side , it does illustrate that the cost of a renters policy is not significant . However the cost of not having a renters policy can be significant . A lawsuit can bankrupts you . A fire can destroy everything that you own . If you are forced to move out you might find that alternative housing is significantly more expensive .


Input: Who Buys Fixed Annuities?

Output: That is a great question ! One of the biggest considerations in selling annuities is the clients aversion to risk . Some people are gamblers by nature , and have a high tolerance for risk . Some are not so tolerant , but are willing to take some chances , if they feel the odds are good , and have a more moderate risk tolerance . Some people are not tolerant at all . They want to know that their investment is ironclad , and know exactly what it will return . Fixed annuities are ideal vehicles for this type of person . There is little risk , and the returns are defined clearly . They are regularly purchased in plans that need to deliver clearly defined returns for that same reason . I hope that helps , thanks for asking !


Input: What Is Centers For Medicare And Medicaid?

Output: The Centers for Medicare & Medicaid Services -LRB- also known as CMS -RRB- is a US Department of Health & Human Service agency . They are responsible for running several federal health care programs with Medicare and Medicaid being the 2 main programs . Medicare is a federal health insurance program that you are eligible for at age 65 or if you qualify from a disability . Medicaid is a federal and state run program . It provides health care services for certain individuals who qualify based on their income .


Input: Why Should You Have Health Insurance?

Output: The purpose of health insurance is to protect yourself financially in the event of a catastrophic event by shifting the risk to a third party -LRB- the insurance company -RRB- . This way you 're only paying a small amount of money and not stuck with a bill for 10s of thousands of dollars , if not 100s of thousands of dollars . Would you rather pay a small amount of the bill or take on the risk of paying the entire thing yourself ? For example , if you have a health insurance plan and broke your leg and needed to have a $ 100,000 surgicaloperation , you may only be responsible for a few thousand dollars of it -LRB- e.g. yourdeductible or coinsurance -RRB- , as opposed to being responsible for paying the entire bill yourself . How many people could afford to write a check for that amount without liquidating all of their assets ? Many health plans will provide additional benefits as well , such as coverage for preventive care , routine doctor visits , prescription drugs , etc. . I always recommend people consult with an experienced broker - we have an in-depth knowledge of a wide range of products available in the marketplace and can help you find the health plan that 's going to be most suitable to your needs and your budget . Please let me know if I can be of assistance . Thanks very much .


Input: Can Life Insurance Be Transferred To Another Company?

Output: Life insurance can be exchanged tax free from one company to another via the 1035 section of the code that permits this type of transfer . Keep in mind that not all life insurance companies receive policies that have policy loans outstanding from other life insurance companies for exchange purposes .


Input: Does Car Insurance Cover All Vehicles I Drive?

Output: There is a misconception out there suggesting that your insurance covers you for any vehicle you drive . In reality the insurance travels with the vehicle . So , if you were to let a friend drive your vehicle and they were in an accident - you and your insurance company will be responsible and it will count against your policy . Depending on the severity of the accident , your insurance company could then go after your friend and their insurance .


Input: When Can You Borrow From Whole Life Insurance?

Output: In Canada , you can borrow from your whole life policy as soon as there is a cash value in the policy . If you pay the annual premium that could be day 2 of the policy . Important to remember that if the amount borrowed exceed the adjusted cost base of the policy it with trigger a taxable policy gain . 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: When Can You Borrow From Whole Life Insurance?

Output: You can borrow money from a life insurance policy if it 's a policy that builds cash value - a permanent life insurance program . Permanent life insurance includes both Universal and Whole life insurance programs . Term life insurance does not build cash value and therefore there 's nothing to borrow from . The maximum amount you can borrow is up to the current surrender or loan value cited in the policy at the time you want to borrow from the cash value . Keep in mind , when you borrow money from the cash value , you are creating a loan against the policy -LRB- the funds are expected to be paid back and , much like you do when borrowing from a bank , an interest rate is being charged on the borrowed monies -RRB- . If the insured dies with an outstanding loan , the carrier will deduct the outstanding amount and any interest charges from the death benefit and give the difference to the beneficiary . Consult with your agent before borrowing from the cash value to find out what will happen when you create a loan against the policy and what you 're responsible for . I hope the information is helpful - please feel free to contact me for help and if you have nay other questions . Thanks very much .


Input: When Can You Borrow From Whole Life Insurance?

Output: As you build up equity , you can borrow against it in your permanent life insurance policy . This is one of the great benefits of permanent life insurance ! Generally , it takes about two years to reach this point , as the initial year 's premiums help defray the cost of setting up the policy . You can decide never to pay back the loan , and it is yours tax free to keep , but it will lower the death benefit , so do so only if necessary or pay it back if you can . Thank you . GARY LANE .


Input: When Can You Borrow From Whole Life Insurance?

Output: You can borrow against a whole life policy when the cash value is in the positive range . You should look at your illustration pages to see the year the excess cash begins to show value . Most whole life insurance policies reach this threshold between years 5 and 7 depending on how the agent set up at or near target price . I would consult with your agent or customer service on not borrowing too much cash value and lapse your policy .


Input: Can You Drive A Car Without Insurance On It?

Output: You can drive a car without insurance on it . A big car . A small car . A vehicle that is red , blue or green . But do you want to ? Unless your policy `` follows '' the vehicle and places insurance on it , you may not be covered . Make sure you 're covered by working with an experienced broker that can save you money .


Input: Can You Drive A Car Without Insurance On It?

Output: That is an excellent question ! How lucky are you ? If you think that you can drive without being pulled over , or without getting into any kind of accident , then maybe you can . If you do n't think you are the lucky type , then you are smart . Getting caught uninsured behind the wheel is one of the worst things that you can do to yourself . The fines are stiff , and there is often jail time , and it is extremely difficult if not impossible to get affordable insurance for a long time afterwards . In short ? No , you can not . Thanks for asking !


Input: Can You Drive A Car Without Insurance On It?

Output: You can drive a car without insurance on it . It should run just fine . However if you are pulled over by a police officer , or become involved in a car accident you could get into plenty of legal and financial trouble . Driving an uninsured car is against the law . Any vehicle damage , or medical bills caused by the accident may become your sole responsibility . Buy insurance before driving the car .


Input: Which Private Health Insurance Is Good?

Output: A `` Good '' insurance carrier or plan really depends on your individual situation . However , as a broker of 9 years I 've found that using these three methods help me find my clients what 's good for them : Use Top RatedCarriers -LRB- Humana , UnitedHealthOne , Cigna , Aetna etc -RRB- Listen to my prospects needs Shop all the carriers for the best benefits at the lowest rate my client qualifies for Follow those simple rules and you should end up with `` Good '' coverage .


Input: Is TMJ Covered By Obamacare

Output: There is nothing in the Obamacare regulations that require an insurance company to cover TMJ . As has been the case in the past , at this point , very few , if any , insurance providers offer health insurance that provides any coverage at all for TMJ . There may be a handful of policies out there that do not exclude this condition , but I have yet to find one in any of the states I 've ever practiced .


Input: Is TMJ Covered By Obamacare

Output: I 've yet to find an insurance policy , on or off exchange , that covers TMJ . In my 10 year career I 've always seen TMJ written into the exclusions and limitations of each plan . Regardless of new guarantee issue policies , TMJ is still considered an excluded condition under most plans in the US .


Input: Who Offers Medigap Insurance?

Output: Many `` big name '' carriers including Blue Cross , Mutual of Omaha and United Healthcare offer Medigap insurance in almost every state . If you want real value you should consider some of the smaller carriers . For example , in Georgia and Tennessee you can often save $ 300 or more by picking someone other than the big name carriers .


Input: Can Health Insurance Deny For Pre Existing Conditions?

Output: The timing of this question is very interesting . The open enrollment period for policies covered under the Affordable Care Act closes today - March 31 , 2014 . Beginning tomorrow , April 1 of 2014 , anyone with a preexisting health condition must wait until the next open enrollment period to enroll in a plan . Coverage would begin on January 1 , 2015 .


Input: Can Health Insurance Deny For Pre Existing Conditions?

Output: Health insurance , if purchased through and Exchange -LRB- An experienced broker will help you enroll -RRB- will not require any medical questions to be answered and all pre-existing conditions will be covered . You may also be eligible for an Obamacare federal tax subsidy . However , many off-Exchange plans , such as short-term coverage , do not cover pre-existing conditions and medical questions will be asked .


Input: What Does Homeowners Insurance Cost In Massachusetts?

Output: Boy , there should be quite a few different answers to this question . However , in the spirit of trying to answer any rational insurance question with a rational response , Ill do my best . Price is an important consideration but so arent the reasons you are considering the purchase of insurance in the first place . Is it to repair and REPLACE any damage to your home or other personal property you own ? Is it to cover the additional cost of living in temporary quarters should your home be damaged or destroyed ? Is it to provide defense and payment should you be found responsible for injuring someone or damaging their property ? Depending on the age , location , and condition of your home as well as the cost to build or rebuild it , a reasonable approximation would be $ 2-3 per thousand per year . If it is any more or less than that , you may want to take a harder look at it .


Input: What Does Medicare Cover For Eyeglasses?

Output: Medicare is not designed to cover routine eye exams or corrective lenses . You may want to consider a supplemental policy which may make payments for exams and provide discounts for glasses , contact lenses , etc. . Eye exams and certain corrective intraocular lenses may be covered if needed to correct an underlying medical condition such as glaucoma , and cataracts .


Input: What Does Medicare Cover For Eyeglasses?

Output: Medicare does n't pay for glasses . In short , you will need to secure coverage under a separate vision insurance plan to receive benefits for glasses , contacts , and other routine services . Part B can provide coverage for some preventive and diagnostic eye exams for people at high-risk of certain conditions -LRB- e.g. diagnosing retinopathy in diabetics or mascular degeneration for age-related conditions -RRB- . You can check out the medicare.gov website for more specific information regarding condition/risk requirements for Medicare to pay benefits .


Input: Do Medigap Plans Cover Prescription Drugs?

Output: No , by law , Medigap Plans are not allowed to offer Prescription drug coverage within the plan . You would want to get Part D to cover prescription drugs . It actually works out better -LRB- for most people -RRB- that the plans are different . The reason is our medication needs can change from year to year so by having a Part D it allows the individual to change the prescription plan without changing their Medigap Plan .


Input: Do Medigap Plans Cover Prescription Drugs?

Output: Medigap does not include prescription drug coverage . As Bill noted , you would need to purchase a separate Part D prescription plan . It 's best to get the Part D plan when you are in your initial Open Enrollment Period . If you do not have continuous creditable drug coverage , you will be penalized and charged a fee on top of your Part D premium .


Input: Do Medigap Plans Cover Prescription Drugs?

Output: No . In today 's marketplace , if you have/want to purchase a Medigap plan and want prescription drug coverage , you would need to enroll in a stand-alone Part D plan . These can be set-up during the annual enrollment period -LRB- AEP -RRB- or if/when you have a special enrollment period -LRB- SEP -RRB- such as new to Medicare . Up until a few years ago , Medigap plans did offer prescription coverage under plans E , H , I , and J. Changes were made to the law that forced these plans to be taken off the market and would require you to buy prescription coverage through a stand-alone plan . If you purchased one of these plans before they were removed from the marketplace , you could keep them . Please feel free to contact me for help and if you have any other questions . Thanks very much .


Input: Who Sells Immediate Annuities?

Output: To find an agency that sells immediate annuities , you can go to a website or local life insurance agency that advertises them , or call to ask if they sell them . Immediate annuities are contracts between the person buying the annuity and the insurance company . Therefore , they are sold by agents who represent insurance companies .


Input: What Does Basic Homeowners Insurance Cover?

Output: A standard homeowners policy should include the following coverages : A. Dwelling B . Other Structures C. Personal Property D. Loss of Use E. Personal Liability F. Medical Payments Some carriers and states use different wording for these coverages from time to time and virtually every insurance carrier adds their own bells and whistles -LRB- some of which are very valuable and must have coverages -RRB- to make up their specific policies . Contact your local independent agent to discuss your home specifically and what coverages you need for your situation .


Input: Why does it cost more to insure an employee who's paid more, for doing the same job with the same risk as an employee who's paid less?

Output: That is a great question , with a very simple answer - while the risks for both employees are the same , the cost of covering their losses is n't . To replace the salary of the higher paid employee will obviously cost more than the lesser paid employee . Workman 's comp and disability pay a percentage of your pay , so the higher priced guy costs more . I hope that helps , thanks for asking !


Input: Why does it cost more to insure an employee who's paid more, for doing the same job with the same risk as an employee who's paid less?

Output: The workers compensation benefit payable to a more highly compensated individual is greater than the benefit paid to a lower paid individual . The same is true for disability insurance . The premium is general the rate times the benefit . The greater the benefit the higher the premium . All of this is dependent upon the calculation for the benefit .


Input: Who Needs Life Insurance And Why?

Output: Anyone who has a family that they care about needs life insurance . If you have a business partner , your partner needs you to life insurance . Life insurance cover your debts , replaces lost income and pays your obligations after you are gone . If you have no assets or debts , and no family , or simply do n't care about fulfilling your responsibility after you are dead , you probably have no need for life insurance .