Input: Which Health Insurance Is Best?

Output: The best health insurance is the kind that is best for you . There 's a difference between which plan is going to offer you the most comprehensive coverage and which plan is most suitable for your needs and budget . In short , it 's different for everyone . Under the Affordable Care Act , there are four main benefit levels - bronze , silver , gold , and platinum . Platinum plans are going to provide the most comprehensive benefits , but will also feature the highest premiums . Not everyone will be able to afford a platinum plan , which is why bronze , silver , and gold are available as well . The idea being to reduce your premium , you take on a little more risk - meaning you 're willing to take on a higher deductible , higher coinsurance/copayment , etc. to keep your premiums down . You may also want to see if group coverage is available through your employer . Group coverage can provide many benefits as well , such as lower premiums -LRB- the employer contributes to a percentage of the premiums for each employees plan -RRB- - the trade-off to keep in mind is that for group plans , if you left the company or your employment was terminated , you lose the coverage . An individual plan will stay with you wherever you go . I would advise consulting with an experienced health insurance broker regarding your specific situation so you can review a wide range of options - an experienced broker can help you determine the plan that will best serve your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much !


Input: How Much Is Auto Insurance?

Output: The premium charged for auto insurance is computed differently depending upon the state . In California the rate is based on the year , make and model of the vehicle and its intended use . It is further based upon the annual mileage for the vehicle . It is also based on the driving records of all the members of the household where the auto is insured . There are other considerations but those are the major factors .


Input: Are Annuities Exempt From Creditors In California?

Output: In many states , Annuities are exempt from creditors up to a certain dollar limit . But this varies from state to state . It can also be very situation specific . It is best to consult with a lawyer who is familiar with CAs estate laws . Especially if this is a main concern when making the purchase .


Input: What Do I Need To Plan For Retirement?

Output: That is an excellent question !!!! We could spend a whole lot of time on this , but I 'll break it down to three things . The first : Decide how you want your retirement to look . Travel , quiet home living , move somewhere , what do you want to do to spend your days ? Second , determine what that future will cost you . How well prepared for that future are you today ? How long do you have to make funding it a reality ? What kind of ground do you have to cover to ensure that it can happen the way that you envision it ? The third : Put together a plan that gets you there , or as close to there , as possible . That plan has to account for your risk tolerance , safe financial living in the meantime , and the ability to create the income that you will need . Spend a little time and put together for yourselves a snapshot of where you are , and where you want to be . Once you have that , find an advisor that you can trust , and get started making your dream a reality . If you want to spend a little more time on the details , please feel free to drop me a line , I 'd be happy to help you . Thank you for asking !


Input: What Are The Disadvantage Of Annuities?

Output: The main disadvantage of Annuities is that your money is not 100 % liquid until your term is over . Some annuities have more liquidity than others ; most offer 10 % yearly penalty free liquidity . Some offer up to 20 % yearly liquidity , while some just offer 5 % . Most deferred annuities allow complete liquidity in the event of a terminal illness or a Long Term Care need . This is why it is important to work with an experienced independent agent who can evaluate your needs and help you find the right product for your situation . Another commonly cited disadvantage are `` high fees '' . But in fact , only Variable Annuities automatically include fees . But the fees do tend to be high in most peoples opinion . It is important to remember that a `` disadvantage '' all depends on perspective and what your needs are .


Input: What Is The Best Life Insurance Policy For Me?

Output: Most people find that they purchase multiple life insurance policies during their lifetime . Having the appropriate coverage at the time of death is a critical matter that requires the counsel of a trusted life insurance agent . The type of policy that the agent will recommend will vary depending on how long the funds will be required . Some insurance will be needed for your entire life . Life insurance exists to help those you love through a very difficult time . Selecting policies , limits and features requires the assistance of a knowledgeable agent .


Input: What Is The Best Life Insurance Policy For Me?

Output: The best Life Insurance is the Insurance in force when you die . That being said , it all depends on your individual situation . There is no one best plan . You have to consider a number of factors such as age , income , debts , family situation , and your personal goals . A good independent life insurance agent can help you find the best plan for you .


Input: Does Health Insurance Premium Increase?

Output: Health insurance premiums do not increase during the plan year . However , there are a variety of reasons why the premium may increase -LRB- or decrease -RRB- from one year to the next . If an insurance company feels that the benefits that they are offering with a specific plan are costing them more than they expected , they may raise the rates for the same plan for the next year . Conversely , if the benefits are costing them less than expected , they can lower the rate to encourage more people to sign up for that option . The main reason your rates are likely to go up each year however is that you are getting older . The older a person is , the more likely they will need to use more benefits . The Affordable Care Act allows insurance companies to charge up to three times more for older members on a plan than for younger members .


Input: How To Get Life Insurance For Someone Else?

Output: To get life insurance for someone else , the other person needs to know that you are getting the policy , agree to it , and sign the application . Then they must participate in the underwriting process , whether that be take an exam , do a phone interview , or provide access to medical records , if needed . Some policies do not require any exam , medical records or phone interview . You can make yourself the Owner of the policy if you have an insurable interest in the Insured person . I.e. . You provide or pay for some of their care , you have loaned them money , they live with you , etc. . Or they can own their own policy . Either one of you can pay for it .


Input: Will My Health Insurance Cover Gastric Bypass?

Output: Gastric bypass and other forms of bariatric surgery intended to promote weight loss may be covered by your health insurance plan . Those who are morbidly obese and have tried other forms of weight loss without success may be approved for gastric bypass . Your doctor must document your condition and history and certify that you are healthy enough to survive surgery .


Input: What Is The Main Purpose Of Life Insurance?

Output: The main purpose of life insurance is to protect your family or business from the costs associated with your death . When a funeral causes relatives to have to pool their resources to pay for it , that is a purpose where life insurance could have helped . When a business must be sold to an outside party because a relative can not afford to buy it , that is a purpose where life insurance could have helped . When a family must go on welfare because the breadwinner passed away , that is a purposed where life insurance could have helped .


Input: Does Renters Insurance Cover Lost Food During A Power Outage?

Output: Renters insurance like homeowners insurance will typically provide some coverage for food loss due to interruption of electrical service or mechanical breakdown . The dollar amounts of this coverage canvary from company or policy to policy . Always read over your policy completely to know what coverages it provides or call your local agent to discuss the specific coverages offered in your policy .


Input: Does Medicare Cover Incontinence Supplies?

Output: Unfortunately , Medicare does not pay for incontinence supplies such as adult diapers and bed pads . If the insured person is in a hospital or skilled nursing facility , those items will be covered under Medicare Part A.Otherwise , Part B will not cover them due them not being classified as durable medical equipment .


Input: Can You Buy Motorcycle Insurance For 1 Month?

Output: Would you buy that coverage if they charged you the equivalent of six months premium ? Issuing a policy for a month is as expensive as issuing coverage for a year . The cost of insurance is calculated using an assumption that the policy will last the length of the term , be it six months or a year . That is why a `` short-rate '' table exists to calculate the premium earned when a policy is cancelled before the end of the policy term . A short rate is recognition of the administrative burden and the cost is passed along in the premium you are charged . You can buy a policy on a six month term or for a year and then just cancel it but do n't expect the actual cost for a month of insurance to be equal to 1/6th of 1/12th of the premium . It is likely to be much higher . But it is possible to end up with coverage for one month . You just may not like the premium charge when you 're done with the coverage .


Input: How Long Will Medicare Pay For A SNF?

Output: Original Medicare includes coverage as an inpatient in a SNF -LRB- skilled nursing facility -RRB- . If you qualify for coverage , Medicare will cover the full cost of care for up to 20 days . For days 21 through 100 , Medicare will pay a portion of the cost and you will be responsible for a daily copay . -LRB- $ 148 in 2013 -RRB-


Input: What Do You Pay For Renters Insurance?

Output: The premium for a renters policy is based on its two essential elements , the amount of personal property that is at risk and the limit the company will be asked to defend you in the event of a lawsuit . The location , age and construction of the unit being rented will be considered in rating the policy and there might be underwriting considerations that would disqualify you for coverage .


Input: Does Homeowners Insurance Cover Raccoon Damage?

Output: Homeowner policies generally exclude damage arising from '' ... birds , vermin , rodents , insects or domestic animals . '' A raccoon is not any one of those items , accordingly I would sayraccoon damage iscovered . However the policy language of your policy is the deciding factor . I hope I 've answered your question . If not , feel free to call , fax or email me . Kevin P. Foley , CPA , CPCU PFT&K Insurance Brokers T 877-414-2031 F 877-405-3025 E kpfoley -LSB- at -RSB- kpfoley -LSB- dot -RSB- com W www -LSB- dot -RSB- kpfoley -LSB- dot -RSB- com


Input: When Should Long Term Care Insurance Be Purchased?

Output: A good time to purchase Long Term Care Insurance is before age 60 , simply because rates are lower the younger you are . Also , the chances of having a health condition are lower the younger you are , which in turn affects rates or even your ability to get Long Term Care insurance at all .


Input: How To Use PPO Health Insurance?

Output: PPO stands for Preferred Provider Organization and is today the most common provider network arrangement associated with most health insurance plans and is the least restrictive on the actions of its subscribers/members . In simplest terms the health insurance carrier negotiates a payment contract with a medical system that makes it 's affiliated physicians , facilities and other providers the `` in-network '' providers where people who enroll in that insurance company 's products will receive the highest level of benefits/coverage . Generally PPO 's allow their members to directly access the health care system at any level and as long as you are using a provider who is in the PPO network the member receives the higher in-network level of benefits . This means that there is little or no gatekeeper mechanism in place that requires the member to receive a referral from their primary care physician in order to see a specialist or obtain other more complex medical services . For the consumer to effectively use PPO health insurance they should learn how to determine whothe in-network providers are for their health plan -LRB- most easily done by going online to the insurance company 's web site -RRB- and to use those providers for their health care needs . A word of caution , this is a time of rapid change and , in many cases , consolidation of physician 's practices in the world of health care . As such , physicians and other health care service providers are shifting around at an unprecedented level . So , just because you remember Doctor X as being in a certain provider network from 2 or 3 years ago is no guarantee that they are in the same relationship today . It is up to the consumer in the PPO environment to make sure they are using an in-network provider and they should verify this before receiving services from a health care provider .


Input: Is It Possible To Get Car Insurance Over The Phone?

Output: Yes . Some of the agencies out there like Geico , that utilize a direct write system , close the deals over the phone . While you can get an online quote , you have to speak to an underwriter who will run your MVR and adjust the annual premium . With an independent agency , like the one I am with , we can do almost everything over the phone . The only other requirement is a signature on the applications/discounts/waivers . These signatures , however , do not require an actual meeting , it can be done via e-mail or fax . I hope this helps .


Input: Which Company Offers The Best Disability Insurance?

Output: There are many insurance companies that offer affordable disability insurance policies . Some of them include Mass Mutual , Hartford , Berkshire and Principal . Of course , there are many other very reliable and reputable insurers . A full-time broker or financial planner is the best resource for information and they can also shop for the best prices when you are ready to pursue this type of coverage .


Input: Which Company Offers The Best Disability Insurance?

Output: The best disability policy for you is the policy that meets your needs in time of claim with the most affordable premium at time of purchase . There are a lot of companies that have disability products . It is more about having the right amount of benefit , elimination period and for the proper time limits than the company . I highly recommend using an experienced broker with access to multiple companies to shop for the best coverage at the best rate to meet you unique needs .


Input: Does Car Insurance Give You Credit?

Output: Having automobile coverage does not help your credit score . It does n't hurt your credit score either unless you fail to pay a past due balance as requested by your company and then it probably would be reported to the credit bureau when the balance goes into collection .


Input: Does Car Insurance Give You Credit?

Output: If you mean does it help your credit rating then I would say no . It does show financial responsibility and any one who drives needs to carry car insurance or a financial responsibility bond , even if you do not own a car . This is a protection for you in the event you are in a law suite and also for the other person who may be injured as well as anyone riding with you .


Input: Does Car Insurance Give You Credit?

Output: I am assuming that this question is asking if having automobile insurance helps a persons credit score . Based on my education and my experience so far in the industry , I would say no it does help build your credit score . To the best of my knowledge insurance carriers do not directly provide any financial information to the credit agencies .


Input: How Long Does It Usually Take To Get A Life Insurance Check?

Output: You will usually receive your check within a couple weeks of submitting proof of death to the insurance company in the event of a death claim as long as their are no reasons to dispute the claim . If you are surrendering your policy or taking a loan then again two to three weeks after mailing the paperwork would be normal .


Input: Home Prices Are Down So Why Not Insurance?

Output: Home prices do not reflect the cost of reconstruction . Insurance is there to rebuild your home if it is damaged . Most claims are not total losses . It is always the rebuilding process that is expensive . It is expensive to make a kitchen that has been damaged by fire look like it never happened .


Input: Home Prices Are Down So Why Not Insurance?

Output: A lot of factors go in to the cost of insuring a home . The market value of a house is not one of them . Some of the major factors of the cost of insurance are : 1 -RRB- the cost to rebuild the home in the event of a total loss . -LRB- Building materials , labor ... -RRB- Although home prices have decreased in much of the country the cost of building homes has not necessarily decreased . 2 -RRB- the likelihood of a loss in that area -LRB- proximity to brush fire and fire departments , likelihood of a natural disaster , number of break-ins ... -RRB- 3 -RRB- prior claims filed on that house or by the person seeking insurance 4 -RRB- value of the contents inside the house .


Input: Home Prices Are Down So Why Not Insurance?

Output: Market value has no bearing on replacement cost to rebuild your home . In many areas of the country with the hit on the economy homes can actually be purchased for less then the cost to build . If insurance companies only paid on market value many people would find themselves tens of thousands if not hundreds of thousands dollars short if there was a total loss .


Input: What's A 403 B Retirement Plan?

Output: A 403 -LRB- b -RRB- plan is a tax-advantaged retirement savings plan under Economic Growth and Tax Relief Reconciliation Act of 2001 for public education organizations , some 501 -LRB- c -RRB- -LRB- 3 -RRB- organizations -RRB- , cooperative hospitals , and self-employed ministers . Employee salary deferrals into a 403 -LRB- b -RRB- plan are made pretax and they grow tax-deferred with distributions taxable when withdrawn from the plan . 403 -LRB- b -RRB- plans were also called tax-sheltered annuity .


Input: How Much Does An Annuity Pay Per Month?

Output: How much does an annuity pay per month will depend on the amount of money that is put into the annuity and the growth rate . The higher the amount funding the annuity , the higher the payout . If you are referring to an annuity with an income rider , this vehicle will pay out a percentage of the income account , depending on the annuitant 's age when they turn on the income stream . An annuity is a excellent way to protect yourself from outliving your retirement savings .


Input: How Much Does An Annuity Pay Per Month?

Output: There are many factors that go into determine what an annuity will payout per month . The primary factor is the type of annuity you have . Additionally , there are usually options associated with the payout of an annuity , so answering your question without more information is not possible . If you are considering an annuity payment , be sure to compare all of your options . Here are some general factors that go into determining annuity payments -LRB- not all apply to each type of annuity and payout option -RRB- : The amount put into the annuity The growth of the annuity over time The age of the person -LRB- s -RRB- at the time annuity payments begin The age of the spouse if a joint payout applies The length of time the payments are guaranteed to last


Input: What Is The Disadvantage Of A Fixed Annuity?

Output: That is a great question ! While a fixed annuity has a lot of great things going for it , there are a couple of things that you do need to look out for . The first is your liquidity . With any deferred annuity there is a period of time where the money you 've set aside to fund it can not be touched without incurring hefty fees , or damaging your earnings potential . If you suspect that you might need to access that cash at any point , then maybe an annuity might not be the right vehicle for you . The second involves the rate of return that you are promised off the annuity . Will the rate be enough after fees to outpace inflation and provide a return that is comparable to another investment vehicle ? If not , then again this might not be the best investment vehicle . As far as safe investments go , fixed annuities are among the best , but please be sure to really think it over , and work with a trusted adviser before purchasing one . Please make sure that it ia a suitable vehicle for you . I hope that helps , thanks for asking !


Input: What Is The Disadvantage Of A Fixed Annuity?

Output: A fixed annuity is a contract guaranteed by an insurance company . Insurance companies have failed although there are a lot of safety stops to preclude that . The benefit is contractual and is generally not adjusted by the cost of living . Your benefit could become less adequate with the passage of time . A fixed annuity may be currently paying one rate of interest , however the company is obligated to pay a lower rate of interest and that could become the situation .


Input: How Often Do You Pay Homeowners Insurance?

Output: Homeowners Insurance also known as Home Insurance or Hazard Insurance is an annual policy issued for a term of 12 months . Although the majority of homeowners pay their insurance in full annually , most insurance plans have more frequent payment plans designed to alleviate the stress of payment in full once a year . It is important to note that it is usual and customary to charge a billing fee for payment options other than paying by one single payment once a year . We provide an online format to obtain a quote and buy home insurance online in multiple States ; it may be used by Escrow/Closing Professionals , Mortgage Professionals , Real Estate Agents and directly by Consumers . An exemplary online experience for all ! WEBSITELINK


Input: How Often Do You Pay Homeowners Insurance?

Output: Depending on the company , there are a number of payment options available.Personally , I offer monthly , quarterly , annual , or every other month options . If you have a mortgage on your house , you can also set up escrow payments , which means you pay the mortgage company and they pay your insurance out of an escrow account . I would recommend checking with an insurance professional to review your options .


Input: How Big Is The US Life Insurance Industry?

Output: The U.S. life insurance industry is huge . The U.S. market has more than $ 18.4 trillion of life insurance protection via individual policies and group plans . The life insurance industry has $ 4.8 trillion in the U.S. economy and is one of the largest government bond holders in the world .


Input: How Much Does Home Insurance Increase After A Claim?

Output: Home Insurance contracts differ in all States ; they are all governed by the Department/Division of Insurance dictating exactly how to abide by the rules of the particular State . Once abiding by the rules of each State , carriers also have differences in handling claims and policy adjustments thereafter . In States where a Claims Free discount is allowed , the discount will be removed on the following renewal if a claim has been filed , there may also be a claims surcharge assessed in addition . Some carriers have allowances for small claims below a certain pay out whereby the insured would lose the Claims Free discount but not be assessed a further surcharge.Since it will be close to impossible to get a clear answer to this question , the following is the best rule of thumb for policyholders : DO NOT USE YOUR INSURANCE POLICY AS A CHECK BOOK ! Property Insurance is meant to protect the insured against unforeseen and unaffordable sudden & accidental perils . The home should always be well maintained and display pride of ownership for ` preferred ' risks . For example , if due to high winds a branch would be blown off a tree and simply break a window or damage a few roof tiles , this is typically not what one would purchase insurance for ; on the other hand , if there is an unforeseen electrical fault causing a house fire or perhaps the occurrence of a devastating storm , this is where insurance becomes an essential part of the recovery process . Insurance contracts are designed with a Deductible ; the deductible is the amount deducted from a Claims Payout . The actual purpose of the Deductible is to reduce the carrier 's risk exposure to small claims , the lower the deductible , the higher the premium . Clients that purchase insurance with a higher deductible make a statement acknowledging that small claims will not be brought to the carrier thus prompting the carrier to accept a lower premium for a lower risk exposure . Once a claim is filed with a Home Insurance Carrier , a claims number is assigned and the claim is reported electronically to the National Claims Database -LRB- CLUE -RRB- . The purpose of this reporting process is for the industry to share information regarding the risk thereby deterring any dishonest practices in attempting to misrepresent risk to an alternate carrier at a future point . This is a great tool that has been used for many years preventing carriers from taking on adverse risk . The answer to this question was carefully orchestrated to provide a better understanding regarding the underwriting and claims process which would lead ultimately to premium assessment . It is strongly suggested that home owners fully understand this process and contact a licensed professional to answer any further questions regarding the process .


Input: What Is Loss Of Use In Renters Insurance?

Output: Loss of use for renters insurance is basically the same as loss of use for homeowners insurance . In layman 's terms it means that the premise that is covered is unihabitable for a period of time due to a covered loss . Under these circumstances the insurance carrier will typically provide the insured with monitary compensation to secure another premise for a specified period of timeor up to the policy limits until the covered premise is deemed habitable again or the insured has secured another premise . Please read your policy completely to understand the coverage provided and any limitations that there may be .


Input: Does Auto Insurance Cover Uhaul?

Output: All personal auto insurance policies will have a vehicle weight limit for the vehicles they cover . While most will cover the policyholder in other vehicles , the coverage will not apply in vehicles that exceed that weight limit . You will need to read your specific policy to know exactly which Uhaul trucks would be covered . It may be only the smaller ones or it may be none at all .


Input: Does Auto Insurance Cover Uhaul?

Output: The liability coverage of your personal auto policy extends to the U-Haul trailer you have rented . The physical damage coverage does not . You will need to insure the trailer with the U-Haul people . Check with your agent if you have a question involving rental of a truck . There might be limitations on that .


Input: Why Was Universal Life Insurance Created?

Output: I think it was created to solve some very real problems with life insurance at the time , which was in the 70s and 80s . Up to that point whole life insurance was the only permanent product available . This product can be expensive because of the strong guarantees it provides . Many people would be willing to pay less for weaker guarantees , and so that makes the product uncompetitive . Whole life is also a fixed premium product . Even if you have deviations in cash flow , you have to stick to the payment schedule in order to retain your coverage . That can be an obstacle for people who fund their premium out of business proceeds , which can go up and down . One of the best revisions to this product has been the recent inclusion of a lifetime guarantee . You can basically lock into rates for the rest of your life . It wont develop much cash , but it really solves the problem of paying the lowest premium on a guaranteed basis forever . In this way kind of functions as a permanent term insurance . Comparatively low rates , but no risk of renewing at a crazy-high rate .


Input: Why Was Universal Life Insurance Created?

Output: The original intent of the development of universal life insurance -LRB- UL -RRB- was to offer an integrated planning product as an alternative to buy term and invest the difference . UL provided this alternative with the tax favored treatment of conventional permanent life insurance with an interest rate crediting method that was very popular in the 1980s high interest rate environment .


Input: Why Was Universal Life Insurance Created?

Output: Originally there was whole life insurance -LRB- steady payments each month along with cash value increasing -RRB- and term insurance -LRB- strictly insurance protection only -RRB- . At one time there were insurance companies focusing on `` buy term and invest the difference '' which was an attempt to capitalize on the lower cost of term insurance and yet having cash values growing at market rates . Univeral Life Insurance is a combintation of the two uniting lower cost term insurance with an internal vehicle that will grow invested cash at various interest rates . It has its place in the insurance world .


Input: How To Apply For Social Security Disability Insurance?

Output: To apply for Social Security Disability Insurance you must contact your local social security office . You should also make sure that you are eligible for social security disability , the requirements are : 1 . You must have been disabled for at least five months 2 . You must have a disability that is expected to last one year or more , or result in your death 3 . You must be unable to perform the material and substantial duties of any occupation for which you are appropriately trained and/or licensed .


Input: Is Homeowners Insurance A Waste Of Money?

Output: People buy insurance because they can not bear the risk alone . Only a relatively small percentage of policyholders will incur a large claim in a given year , however , none of them could afford to bear that claim alone . Unfortunately I can not tell when you will have a claim and advise you to buy a policy because you will be having a claim soon . Actually most people buy a homeowners policy because their lender requires it , however , it is a very good deal , particularly if you do have that major claim .


Input: Is Homeowners Insurance A Waste Of Money?

Output: That is a great question ! A lot of people have a hard time with the concept of insurance . I 'm young , nothing will happen to me ! Or I 'm a good driver , why do I need insurance ? But inevitably things do happen . You can be the best driver ever , but that does n't mean the teenager texting in the car behind you is ; or that something can go wrong , and you 're laid up in the hospital . Homeowners is the same way . No one thinks that things will go wrong with their house , why would I want it ? Insurance is there to protect you when things do go wrong . You would not think the insurance was a waste of money when you got the check to replace your belongings , or the one that allows you to pay for the hotel rooms that you are forced into when your home is damaged . Insurance is only a waste of money when you drastically undervalue it . Please consider it as protection , and not a waste . Thanks for asking !


Input: Is Homeowners Insurance A Waste Of Money?

Output: There is one insurance policy that is guaranteed to pay a benefit and that is Life Insurance . Unless you have a mortgage that will require you to have Homeowners insurance , then if you have enough liquid resources -LRB- cash -RRB- to completely rebuild you home in the event it is destroyed then you probably do n't need insurance . If you have enough resources available to pay a lawsuit settlement , then you probably do n't need insurance . If you ca n't answer yes to both of those questions , then no , Homeowners Insurance is not a waste of money .


Input: Can I Get My Own Car Insurance At 17?

Output: You may be able to with a small number of carriers , but based on my education and experience in the industry up to this point I would say the you would not be able to secure your own insurance coverage at seventeen . The legally recognized age for being an adult is currently eighteen which means that if you are not eighteen then someone else is responsible for you until you turn eighteen .


Input: Is Long Term Care Insurance Payments Tax Deductible?

Output: Eligible premiums paid for tax-qualified long term care insurance can be applied toward meeting the 7.5 % floor for medical expense deductions on your federal income tax return . The amount of eligible long term care premium that can be applied to the 7.5 % floor depends on your age . The IRS publishes a table and adjusts the amount for inflation . The benefit payments from a tax-qualified long term care insurance policy are not considered taxable income to the recipient , up to a per diem limit . The per diem limit , which is adjusted annually for inflation , is $ 320 for 2013 . The preceding is for general information and planning purposes only and may not be relied upon as tax advice . You must consult with a tax adviser for more as it applies to your situation .


Input: Why Is Home Insurance So Expensive In Wisconsin?

Output: Rates for homeowners insurance policies are based on the risk exposure and claims activity that a carrier has experienced . Almost all carriers within the United States have experienced an increase in premiums over the years due to the number of claims payouts from covered claims caused natural disasters and other covered incidents . I have seen questions from people all across the country that are asking about the cause of insurance premium increases . It is truely the unfortunate side effect of insurance that attempts to spread the financial risk across the many .


Input: Can You Borrow Money From Renters Insurance?

Output: No Renters Insurance does not have cash value . Renters Insurance is designed to replace your personal property in the event of a covered loss subject to a deductible . There is no savings feature that would provide for any type of loan . The policy will provide cash for additional living expenses if you must leave your apartment due to a covered loss .


Input: Can You Borrow Money From Renters Insurance?

Output: Because of the short duration of the policy there arent any reserves in a renter 's policy . You can not borrow from a renter 's policy . The only type of insurance that does develop cash value , and thereby the ability to borrow money , is a permanent life insurance plan . Discuss this with a professional life insurance agent .


Input: Does Asthma Affect Life Insurance?

Output: Mild , seasonal asthma that has been under control for many years will generally not have an impact on life insurance rates . Moderate asthma with occasional attacks and requiring daily medication will generally raise rates a little . Severe asthma requiring continual steroid treatment and exhibiting recent , frequent attacks can raise life insurance premiums significantly . If smoking or COPD is involved along with severe asthma , it could result in a decline .


Input: Can I Get Life Insurance If I Have Taken Drugs?

Output: If you have taken drugs over 10 years ago but have never had to have treatment or have not had any infractions due to drug use , your history of drug use may only affect your premium slightly , or possibly not at all . If your last drug use was more recent , you can still get simplified issue life insurance if you have not used drugs in the past two years . And finally , there is guaranteed issue life insurance for those who are currently using drugs .


Input: Can I Get Life Insurance If I Have Taken Drugs?

Output: Peggy is correct . I would also add the type of drug abused has a lot of barring on underwriting decisions . If you abused prescription drugs that are FDA regulated the underwriters are more forgiving on risk after 10 years . However , if you abused cocaine , heroine , meth , etc. these drugs are usually `` cut '' with unknown substance . This is viewed as a much higher risk by underwriters . The `` cut '' can cause more damage to the body than the actual drug . Therefore , in most cases these cases are declined from underwritten plans .


Input: Is Mortgage Insurance And Homeowners Insurance The Same Thing?

Output: No , not really . Mortgage Insurance is usually a type of Life Insurance , customarily term , that is designed to cover an amount needed to pay off a mortgage n the event that the Homeowner dies . Homeowners ' Insurance on the other hand is coverage that protectes your home from covered perils such as fire , wind , theft , etc. .


Input: Who Has The Best Health Insurance In Ohio?

Output: The best health insurance in Ohio is typically provided by one of the major companies in the state . These carriers are Anthem Blue Cross , UnitedHealthcare , Aetna , Medical Mutual or Humana . SummaCare offers policies in the Northern portion of the state . Healthspan -LRB- formerly Kaiser -RRB- is also available on the Exchanges . So how do you get the best health insurance prices in Ohio ? Perhaps I 'm a bit biased , since I 'm an experienced broker located here in Ohio with one of the premier websites . www.ohioquotes.com will help you easily enroll and find the best rates on the Exchange Marketplace . Of course , the key to getting the best rates from top companies is to have an expert shop and compare for you , help with calculating your federal subsidy -LRB- if you qualify -RRB- and helping with enrollment to the Ohio Health Exchange . Healthcare has significantly changed in the last few years with the passage of The Affordable Care Act . Policies are different and benefits have been revamped . It 's worth your time to utilize a broker to help you properly calculate the federal subsidy and determine the best available plans .


Input: Can My Auto Insurance Company Cancel My Policy?

Output: Yes , they can , but there needs to be a solid reason to do so . For the most part , and this one is the most obvious , a policy can be cancelled for non payment of premium . Now by non payment , that includes one simply not paying the required premium within the grace period -LRB- if there is one -RRB- or bouncing a check for payment and then failing to pay the premium owed and any returned check service fees imposed . Another reason for non renewal can be that the insured just does not meet the underwriting standards of the company as they have been filed with the State Insurance Department . This can be anything from too many minor moving violationtickets or accidents to more serious cases that result in the suspension of one 's license . Unless the reason for cancellation is non payment of premium on a policy that has NO grace period beyond the due date , the insurance company is required to notify in advance of their cancellation action . The number of days in advance can vary by state , but typically it is 30 days .


Input: What Is The Best Car To Buy For Insurance?

Output: I am not clear on the question . If you are referring to price alone it really depends allot on the individual information of the consumer but a Corolla has a decent insurance price . Just my opinion , you should really talk to your local agent . Speaking of my personalopinionIbelievethe best car to buy is the one you want .


Input: What Is The Role Of A Life Insurance Underwriter?

Output: A life insurance underwriter assesses the medical condition of the proposed insured as well as beneficiary election and financial justification . Overall insurance justification establishes whether the amount of coverage and the beneficiaries of the application are warranted before moving forward in the underwriting process . The paramount issue is here is the economic loss suffered by beneficiaries at the death of the insured . The medical information of the proposed insured contains the attending physicians statements , the insurance exam results , prescription medications and the application answers to determine an underwriting offer . The collection of this data can be a time consuming process from 4-6 weeks .


Input: What Is The Role Of A Life Insurance Underwriter?

Output: The role of a life insurance underwriter is to evaluate and determine the degree of risk involved in issuing life insurance policies to persons applying for life insurance at their company . This could involve simply looking at the MIB and pharmacy record -LRB- for simplified issue , nonmed policies -RRB- all the way to reviewing hundreds of pages of medical records , tax returns , and/or inspection reports for very large policies . The underwriters ' role is to make sure that the insurance company they work for does not lose excessive amounts of money by charging too little , but does not lose business by charging too much . Underwriters are a very important part of a reputable and secure life insurance company .


Input: What Is The Role Of A Life Insurance Underwriter?

Output: An actuary takes years of statistics and projects life expectancies for every age . From this information a standard rate is developed . The underwriter reviews the information provided on an insurance application . The purpose of this procedure is to decide how close to standard a specific risk is . The underwriter will make a determination upon which the company will either decline a risk or make an offer to insure . In the vast majority of cases the policies are issued at standard rates but the underwriter might adjust the offer either increasing or decreasing the premium as is warranted .


Input: How Do I Choose The Right Health Insurance Plan?

Output: Congratulations ! You have asked the question that millions of Americans are struggling with and will be struggling with for years to come . Without being self-serving to my industry , find yourself an experienced and well qualified health insurance agent to shop the market for you and to explain the fine details of the options available to you . The Affordable Care Act -LRB- ObamaCare -RRB- has accomplished what many thought impossible - making health insurance more expensive and even more complicated to understand than it already was . Buying health insurance online , whether it 's through the government marketplaces or private sites , is not like shopping around for the best deal on a hotel room or an airplane ticket . You will encounter a bizarre world of seemingly similar looking insurance products with wildly different prices or similarly priced products with wildly different benefit designs . I guide people through this maze and it really does n't matter if they have a 10th grade education or a PhD , they are amazed at the subtle differences I have to point out that make the real differences in the health insurance products they purchase . For example , one insurance carrier here in Tennessee offers identical insurance products in the government marketplace but has three different PPO network options attached to them . The average person would look at these products , determine that the benefits are the same and so why not pick the one with the lowest monthly premium ? What they have painfully learned later is that they have enrolled in a health plan with a very narrow network of doctors , hospitals and pharmacies . The hospital a few miles from their house that they assumed was in-network because it is part of the overall health system they have been familiar with in the past turns out not to be included in this narrow network product and instead they may have to go across town or to another county -LRB- in more rural areas -RRB- to go to an in-network hospital . Another major carrier uses terms like `` Local Preferred '' and `` National Preferred '' to differentiate their products . A quick scan of the benefit summaries reveals only slight differences in office visit & prescription copays , deductibles and out-of-pocket maximums but unless you really dig deep you wo n't be able to figure out one limits your pharmacy choices significantly while the other does not . Other insurance companies whose plans people have been familiar with and even enrolled in for years have found that these company 's products have transformed into products that now require primary care referrals for visits to specialists and other services or that they provide little or no coverage outside of their immediate geographic area . Just this week I spent about 3 hours explaining his different options to a man in his early 30 's who is smart enough to run his own business and who has been my customer for 6 years . The next morning he had his mother call me so I could explain the same things to her so she could help him feel good about his final decision . This is the reality of what the average consumer is now faced with in today 's health insurance marketplace . My advice , it 's a jungle out there . Do n't go in without a trained guide and beware of these so called `` navigators '' and `` assistants '' they are unlicensed , poorly trained -LRB- perhaps good intentioned -RRB- individuals who can do little more than read the same material on a computer that you can see .


Input: Does Renters Insurance Cover Flood?

Output: Flood is one of the leading causes of property loss in the United States . The problem is so great that the Federal Government has a program to provide that coverage . Private insurers , normally exclude damage caused by water entering the residence from the outside and in particular by flood . Your current insurance agent can probably give you specific information about the flood program in your area .


Input: Does Renters Insurance Cover Flood?

Output: Renters insurance will not cover flood damage . Neither will homeowners insurance . Flood insurance is a completely separate policy that is regulated by the federal government . Flood policies can be a little pricey . Depending on you geographic location if you are a homeowner you may be required by your lending institution to carry flood insurance . Renters on the other hand would not be required to carry such coverage unless specified by the rental agreement .


Input: Does Renters Insurance Cover Flood?

Output: To have flood covered by any type of renters or homeowners coverage , you must have a special flood policy . Your homeowners and renters will cover water damage due to sewer backup , burst pipes , or rain damage from a leaking roof , it will not cover flood . There is a special Federal Flood Insurance program you can look in to if you live in a flood zone .


Input: Why Do You Need Home Insurance?

Output: Most people buy home insurance because it is required by their mortgage company . A home is often the largest single investment made by a family . It also represents the largest risk that a family can assume . Anyone injured on your property can sue you for personal liability or property damage . You are vulnerable . The home is often your largest asset . If the house were to be destroyed , your loss would be substantial . Since you depend upon your home as a place to live , if it were destroyed there would be considerable additional expenses to find suitable lodging . There are many other reasons but it just makes common sense to insure such a significant asset .


Input: How Much Life Insurance Does A Soldier Have?

Output: Soldiers are automatically enrolled in the VA 's group life insurance plan -LRB- SGLI -RRB- at a face amount of $ 400,000 . There is a low cost charge to the individual being insured . If the soldier does not want that much , he/she can choose to reduce the face amount . There are also some options to insure his/her family .


Input: How To Submit A Home Insurance Claim?

Output: You are going to have to determine what caused the damages and submit a claim appropriately . For example there may be water damage of a broken pipe or water damage form a flood . both are water damage but both are not typically covered under the homeowners policy . A broken pipe from say a freeze loss would be typically covered . A flood from a nearby stream would not be covered . In property insurance you may have contents to list and produce a notice of loss . Such an inventory is hard to do after the damage occurs . for that reason we recommend keeping an inventory of your important household goods away form your premises in a safe place .


Input: Is There A Deductible On Renters Insurance?

Output: There is no deductible on Section II of your Renters Insurance Policy ; Section II applies to Personal Liability and Medical Payments to Others , both of which do not require a deductible . If you are purchasing Renters Insurance primarily to provide Personal Liability coverage required by your landlord or simply for the personal protection of your assets from a liability exposure , you will be best served by purchasing a policy with the maximum available deductible . The lowest renters insurance policy premium will be generated by selecting the maximum deductible amount on the policy ; however , the deductible only applies to the Personal Contents -LRB- physical loss -RRB- . It is important to review your policy as there are variations from State to State ; however , Renters Insurance is referred to as a Homeowners Form HO-4 or Renters Form . In most geographic areas , Stillwater Insurance generates the lowest premium for this type of coverage and the policy is available online . You may obtain a Free Renters Insurance Quote and Buy your Renters Insurance Policy Online at : WEBSITELINK Stillwater Insurance , formerly Fidelity National Insurance Group , is an admitted carrier , authorized and licensed in all 50 States .


Input: Is There A Deductible On Renters Insurance?

Output: There isnt a deductible if you are sued . When property is damaged as a result of a covered peril -LRB- fire , windstorm , etc. -RRB- the company will apply the stated deductible to the settlement of a claim . The purpose of the deductible is to reduce the number of claims by eliminating the small , inconsequential losses . In reducing the number of claims the cost of the insurance is reduced . The company usually will offer several deductibles to choose . You can tell by the premium change the effect that these smaller claims have on the cost of insurance . A deductible is much like self-insuring . It allows you , the policyholder to assume a portion of every loss in order to reduce the cost . The higher the deductible the closer you become to catastrophic insurance . As a principle , it is wise to assume as much of the risk yourself as you can reasonably afford to reap the benefit of a lower premium .


Input: Is There A Deductible On Renters Insurance?

Output: The property coverage portion of your renters insurance policy will have a deductible , yes . Upon settlement of a covered claim , that settlement will therefore be subject to that deductible as well as the other terms and conditions of your policy . Talk to your insurance professional about your coverage and settlement options .


Input: Can I Get Out Of State Car Insurance?

Output: If you live in one state and are fortunate enough to also own a vacation home in another , and you choose to have a car registered in state for your use while you are there , then it is possible , if not required that you have a car insurance policy in that state . Most if not all states require car insurance in order to register a car for use on public access roads and highways and in most cases , that insurance must be obtained in the state in which the car is registered . Honestly that is the only circumstance I can think of where you may have insurance on a car from another state which is not where you primarily reside .


Input: Can I Get Out Of State Car Insurance?

Output: Based on my education and experience so far in the industry , I would say no . Auto insurance is based on your garaging zip code therefor you could only purchase insurance from a carrier that is licensed within your state . Now if you are asking if you can purchase auto insurance from a carrier that is not physically located within your state then the answer would be yea , a carrier could be physically located outside of your state but still be licensed to sell insurance within your state .


Input: What Is Best Retirement Plan For A Small Business?

Output: Each business owner needs to determine which retirement plan is suitable for their organization . If the sole proprietor is also the only employee , with limited contributions an IRA may suffice . But if an IRA contribution is too low , an SEP IRA may be a better option . For employers who have several employees , a 401 -LRB- k -RRB- may serve the organization by offering such a plan as an employee recruiting and retention tool .


Input: What Is Graded Death Benefit Whole Life Insurance?

Output: Graded Benefit Whole Life Insurance is whole life insurance that pays a reduced benefit during the first one to three years , then pays the full death benefit after that . E.g. . If death occurred during year one or two , it may pay back all you paid in , plus 10 % . If death occurred during year three or afterwards , it would pay the beneficiary the whole death benefit . Different policies are graded a different number of years , and each carrier has their own criteria for how much is paid back during the graded years . Most graded benefit whole life policies are only graded for natural death . I.e. death due to illness or old age . They usually pay 100 % of the death benefit from day one for accidental death . Guaranteed issue whole life policies are graded , and some simplified issue policies are graded . Simplified issue policies are those that do not require an exam . The biggest thing to watch out for with graded whole life insurance is whether the premium stays level for life . Some graded whole life policies have premiums that go up at regular intervals . With some , the company may raise the premiums at any time , as long as they do so for everyone owning that type of policy . If you anticipate living longer than a few years , it is best to buy a graded benefit whole life policy where the premium will stay level for the rest of your life . Please feel free to contact me at any time if you would like to see whether you qualify for an immediate benefit policy , or to get some competitive quotes for several graded benefit policies that have the price locked in for life .


Input: What Is Graded Death Benefit Whole Life Insurance?

Output: That is a great question ! If you are looking at whole life insurance policies , you want to look at whether the policy is an `` immediate issue '' policy , or one that is a `` graded -LRB- or `` modified '' -RRB- '' policy . An immediate issue policy is one that goes into effect as soon as the underwriting is approved , the policy is issued , and the first payment received -LRB- in some States the policy may be honored if the company issued the policy , and the payment had not yet been received -RRB- . These policies are most often written for people with great health , or people with minor health issues , as determined by that company 's underwriters . -LRB- A good independent agent can help you find the best fit . -RRB- A graded or modified policy will be issued to folks that have more significant health issues , or by companies that are mass marketing the policy - like AARP or Mutual of Omaha 's `` guaranteed everyone qualifies '' policies that you see on TV or that arrive in your mailbox . These policies will all have a period of time where the desired face value -LRB- and typically it is very small - often not more than $ 10,000 -RRB- is not paid out unless the insured dies an accidental death -LRB- as strictly defined by the insurer -RRB- . Typically any health related passing will result in a payment only of the amount you 've paid into the policy , and some amount of interest . This period is generally 2-3 years . -LRB- Again , an independent agent can help sort through companies to help you find the best grade for you . -RRB- So an `` everyone is guaranteed '' policy like AARP offers will somewhere in the small print tell you that the policy has a graded or modified benefit period of ___ years and during that period a death resulting from natural causes will result in the return of premiums paid plus __ % interest . This is done to help limit their cost over the entirety of the risk classes they will be insuring . The other companies that offer this type of policy are doing it based upon your specific health issues , and the increased risk to your mortality . For example , someone who has no diabetes , or that has controlled their disease with a regimen like Metformin will usually be a certain immediate issue candidate . Someone whose diabetes went unchecked for a while , and is on an insulin program will more often than not be issued a graded/modified policy . If that unchecked diabetes has led to complications like amputations , diabetic coma , or neuropathy , you can usually expect the more expensive guaranteed issue policy to be your only option . Again , a good agent can help you find the best fit for you . You can expect to pay less for the immediate issue policy , more for the graded policy , and most for the guaranteed issue policy . I hope that answers all of your questions , and if not , please do n't hesitate to reach out and contact me , I 'd be more than happy to spend some time answering whatever questions or concerns that you may have . Thank you for asking !


Input: What Is Graded Death Benefit Whole Life Insurance?

Output: Graded death benefit whole life insurance is permanent coverage that features an alternative structure in the first 2 or 3 years of the policy -LRB- depending on the insurance company -RRB- . The program will feature one of two graded benefit methods . 1 -RRB- Return of premium - if death occurs during the graded period , any premiums paid into the policy is given to the beneficiary . If death occurs under accidental means , then the full benefit is still payable . After the graded period has expired , the full benefit is payable regardless of whether death occurs due to illness or injury . Some carriers may offer interest on your premiums if the insured passes away during the graded period - be sure to review your policy to see if it 's under your policy . The return of premium structure is more commonly seen under graded benefit whole life policies . 2 -RRB- Reduced death benefit - if death occurs during the graded period , the coverage will payout a specific percentage of the death benefit , depending on which year during the graded period death occurs . For example , if death occurs during the first year of the policy , the carrier only pays 30 % or 35 % of the death benefit -LRB- depending on the carrier -RRB- - 70 % or 75 % if death occurs during year 2 . If death occurs under accidental means during the graded period , then the full benefit is payable . After the graded period has expired , the full benefit is payable regardless of whether death occurs by illness or injury . Under final expense policies -LRB- another name for small whole life policies with face amounts of $ 25,000 or less -RRB- , the responses to the health questions determine whether you will qualify for a level benefit -LRB- immediate full coverage -RRB- or a graded benefit . Typically , to qualify for a level benefit , all the health questions have to be answered no . Please note , just because you may not be able to answer all health questions no for one carrier 's program , does n't mean you would n't be able to answer no to all questions for a different carrier . Each insurance company has their own questions that they ask so one carrier may be able to consider a level benefit where another may not . The wording to the questions is critical to pay attention to . If you ca n't qualify for traditional final expense coverage , you always have the option for GUARANTEED ISSUE whole life . These programs do not ask any health questions whatsoever . They will feature the return of premium graded period . When buying any whole life insurance policy , be sure to remember 2 things : 1 -RRB- Do the premiums remain the same for the entire life of the policy ? - Some policies feature banded premium - meaning they go up every 5 years . They may be cheaper up front during the first couple years , but can cost significantly more over the long run . 2 -RRB- What age does the coverage carry you to ? - Some policies will only carry you to age 80 or to age 90 - and if you live beyond that age , your policy automatically terminates . It 's best to set yourself up with something that guarantees the coverage will remain in place for life -LRB- as long as you continue to pay your premiums of course -RRB- . I always suggest consulting with an independent agent who can shop the case for you and compare multiple insurance policies with your medical history to make sure you 're getting the desired coverage at the lowest possible cost . There is no cost to doing so . If you 'd like some help gathering the most accurate quotes and securing the coverage at the lowest cost , please send me an e-mail via the contact me button next to my name with your name and contact information to reach you at . I hope the information is helpful - thanks very much .


Input: What Is Graded Death Benefit Whole Life Insurance?

Output: Graded death benefit life insurance occupies the space between so-called `` normal policies '' and `` guaranteed issue life '' insurance , where anyone can get coverage without any medical questions or questions about lifestyle , travel , etc. . Usually , a graded benefit policy will be an `` accident only '' policy for 2 years and then a part or all the death benefit would be paid depending upon the carrier .


Input: How To File A Claim On Renters Insurance?

Output: In order to file a claim on your renters insurance you simply need to call the company you have the insurance with . No different then filing an auto insurance claim . The insurance carrier that you have your renters insurance with will take the information and assign a claim adjuster to work with you on your particular claim .


Input: What Is Key Life Insurance?

Output: Key Life Insurance , often called Key Man or Key Person Life Insurance , is a policy that is taken out on a `` key '' employee of a business . The business usually pays for the policy and receives the benefits so that it has the funds to look for a new employee and not suffer financially in the interim , if that key employee should pass .


Input: What Is Key Life Insurance?

Output: Key Life Insurance , often referred to as Key man or Key person Life Insurance is usually purchased by business The business is the beneficiary to receive funds to aid in the transition in the event of the Key employee 's death .


Input: What Is Key Life Insurance?

Output: Many business owners purchase life insurance on their key personnel or business partners . Some businesses use life insurance in deferred compensation plans to fund executive compensation . Key personnel can be any employee that impacts the company , i.e. from rainmakers to the top admin person who runs the firm .


Input: How Will Medicare Cuts Affect Patients?

Output: Medicare cuts hurt everyone , patients and providers alike . When Congress reduces funding for Medicare that means you have fewer choices , are expected to pay higher premiums , copay 's , deductibles and out of pocket . Congress also seeks to limit the amount they pay providers for services rendered . When this happens fewer doctors will take on new patients and stretch out the time between appointments .


Input: Can Anyone Buy A Life Insurance Policy On Someone Else?

Output: In order to take a policy out on another individual you must have some sort of insurable interest . A family member , an employer , a creditor , are all examples of insurable interest . The party being insured must also have knowledge and approve of the insurance and sign the application .


Input: What Is The Lowest Cost Auto Insurance?

Output: The lowest cost auto insurance will depend on where you live , the car you drive , your driving record and the coverage you want . Shopping for the lowest rate is handled best by an experienced broker . You can quickly compare the best prices online , apply for coverage quickly and utilize low down-payment options . You want great coverage at the lowest rates and it certainly is possible .


Input: How Does One Get Renters Insurance?

Output: To get renters insurance you must contact an agent who is licensed to sell Property and Casualty insurance . Any agent who sells home and auto insurance is licensed to sell renters insurance . You should seek out an agent who will show you policies from numerous carriers so you can determine which carrier is the best match for you .


Input: How To File A Claim With Renters Insurance?

Output: The whole issue of filing a claim presents a problem . Property claims are actually rare . Property insurers traditionally give either premium discounts or deductible discounts based on the period of time the policy has been claims-free . It is possible that a small claim would result in a loss of these discounts and the actual out-of-pocket expenses that you experience would be more than the amount recovered . There is also the matter of mitigation which means that you can often contain the expense of a claim . This might cost you but your net out of pocket expenses might be reduced . The bottom line is to know your agent , know your deductible , and make sure both of you know the discounts you might already be receiving , before you call that 800 number . If the house is on fire , dont wait !


Input: How Is Car Insurance Quote Calculated?

Output: There are a lot of factors used when calculating auto insurance rates . Each company has their own formula for calculating rates . Factors they use include age , gender , location , marital status , driving record , credit rating , type and value of vehicle , residential status -LRB- owner vs renter -RRB- , and prior insurance coverage , and claims history all can factor into the rate .


Input: How Are Variable Annuity Withdrawals Taxed?

Output: In Canada , variable annuities are called segregated for seg funds . They are similar to mutual funds , but because they are issued by insurance companies there are differences including maturity and death benefit guarantees . Withdrawals from a segregated fund are taxed differently depending on the underlying units , the gain could be taxed as a capital gain , interest or dividend income . You would need to confirm with the issuer to be certain . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me .


Input: Can I Cash Out My Life Insurance?

Output: If there is cash value in your life insurance , and it is of a value more than any loans or fees or surrender charges that would need to be paid , you can cash it out . There are other options for your policy , as well , such as reducing the face amount so that you no longer have to pay premiums on the policy . Or taking a loan from your policy . Or taking dividends as cash . Before you give up a permanent policy that has built up cash value , you should explore these other options .


Input: What Is Non Participating Whole Life Insurance?

Output: Non-participating whole life insurance is very straightforward coverage . Your premiums are fixed and guaranteed for life . You pay your premium for the policy and at whatever point in time death occurs , the policy pays out a death benefit . As with any permanent life policy , it does build cash value that you can borrow against , however these policies do not pay any dividends that can normally be used to reduce your premiums , secure paid up additions -LRB- increasing your total death benefit -RRB- , or making a payment to the policyowner . Only participating whole life policies can pay dividends . I hope the information is helpful - please feel free to contact me for assistance with your life insurance needs , including quotes and policy comparisons , and if you have any other questions . Thanks very much .


Input: What Is Non Participating Whole Life Insurance?

Output: That is a great question ! Many insurers are regular corporations , and some are mutual or fraternal organizations . As they make money , as in any corporation , there are dividends that may be paid . Mutual insurers are a lot like mutual funds , -LRB- I am simplifying this tremendously -RRB- in that they will generally pay those dividends , as each policy holder is a shareholder in the company . The ones that pay are `` participating '' ; the ones that do n't are `` non-participating . '' Unfortunately , there are far less participating companies than non-participating . I hope that helps , thanks for asking !


Input: How Does Group Universal Life Insurance Work?

Output: Group Universal Life is offered to employees by businesses . Some employers pay for the coverage ; in other businesses , the insurance is voluntary and paid for solely by employees . Group Universal Life Insurance policies -LRB- GULP -RRB- are permanent and can accumulate cash value . As such , they are usually portable , so that employees can take their coverage with them when they leave their jobs .


Input: Does All State Renters Insurance Cover Flood?

Output: Flood insurance is handled through the Federal government only and sold through insurance carriers . Renters insurance as well as homeowners insurance does not cover flood damage of any kind . You must purchase flood insurance as a seperate policy . Contact a local agent to find out availabity for this coverage within your area .


Input: I Am Disabled When Do I Get Medicare?

Output: Disabled individuals may qualify for Medicare subject to certain conditions . You must meet the Social Security definition of disability and , in most cases , have received SSDI checks for 2 years . Specific medical conditions , such as ESRD -LRB- end stage renal disease -RRB- may qualify you for immediate Medicare benefits . Medicare Advantage plans will not offer coverage if you have ESRD .


Input: Is Life Insurance Considered Community Property In Connecticut?

Output: Connecticut is not a community property state , so life insurance would not be considered community property there . There may be additional state rules regarding assets owned by married couples , but community property is not one of them . Assets like life insurance , specifically cash value life insurance can often be subject to negotiation regarding splitting values between parties during divorce .


Input: Does Medicare Part D Cover Diabetic Supplies?

Output: Medicare Part D does cover some diabetic supplies . Part D will cover supplies that are used for administration of insulin -LRB- syringes , needles , alcohol swabs , gauze and inhaled insulin devices -RRB- . Medicare Part B covers diabetic supplies such as blood glucose monitors , test strips , lancet devices , and lancets .


Input: Where Can I Find Cheap Car Insurance For An 18 Year Old?

Output: There 's no doubt about it . Car insurance for teenage drivers is expensive ! New drivers are 5 times more likely to have an accident . The good news is there are ways to lower your cost without sacrificing coverage . The biggest mistake I see parents make is reducing coverage when they add their son or daughter . If your child has an accident the parents will be sued , not the child . If you are going buy a car for your child buy an older vehicle and stay away from sport cars . A Mustang GT is not a good option for lowering your cost . If you are not going to buy a vehicle and have more drivers than cars , then you can list your child as an `` occasional driver '' . Most companies also offer Good Student Discounts and a discount for completing driver 's education so make sure you inquire about both of these for additional savings .


Input: Where Can I Find Cheap Car Insurance For An 18 Year Old?

Output: Cheap car insurance rates for an 18 year-old are sometimes possible . As an experienced broker with 33 years of experience , our job is to find the lowest rates offered by the most reputable carriers . But the coverage you have on the vehicle is critical . While low liability limits and high deductibles may result in affordable prices , it is important to understand what the `` sweet spot '' is when picking the right policy .


Input: Where Can I Find Cheap Car Insurance For An 18 Year Old?

Output: This is a very complicated subject . In California all the drivers in a household are included on an auto policy . Parents dont want the additional expense of insuring their cars with an inexperienced driver in the household . Some purchase a car and place the car in the 18 year olds name . They then buy the cheapest auto insurance with just the bare legal limits . The problem arises when the inexperienced driver injures others in an accident and the injured party starts suing . The lawyers will not stop at the limits of the policy purchased for the 18 year old . I have seen them even go after grandparents who loaned money to the 18 year old . Your only recourse is the low limit policy purchased for the car . The rest of the lawsuit comes after everything that you own . It is usually cheaper to include the inexperienced driver on the family policy . If you add another car you can isolate the expense to that car but at least you can have the advantages of discounts and perhaps save yourself from bankruptcy down the road .


Input: Does My Husband Have To Be On My Auto Insurance If He Doesn't Drive The Car?

Output: Here in CT , a licensed driver needs to be either rated or excluded on an auto policy . The tough part is that although this can work in many situations , a spousal situation is not one of them . It may be possible if each of you have a car registered in your own name and insured on separate policies , this you really neeed to check with your Insurance Professional


Input: Does My Husband Have To Be On My Auto Insurance If He Doesn't Drive The Car?

Output: I understand it 's hard when you have a driver with , shall we say , a less than stellar driving record . Most companies , however , will want your husband to be named on your auto insurance policy . Over the years they 've realized that people drive the cars that they own whether they 're insured on a policy or not . It 's just the reality of the situation . However , that does n't mean that your rates have to be sky-high , as you put it . There are some pointers I can give you to help minimize the impact . Your husband can get his own insurance separate from yours . If his record is bad enough that he has be placed with a non standard -LRB- high risk -RRB- company , you can still have a policy through a standard company . As long as he has insurance , he does n't have to be listed as a driver on your policy . Whether you choose to have him get his own policy or list him on yours , list him on a car that does n't have physical damage coverage -LRB- comp and collision -RRB- . Physical damage coverage on a non standard policy can cost big dollars , as much as 75 % of the total cost of the insurance . Track his driving record . Any violation will eventually drop off for rating purposes . Most minor violations will drop off after two years , at fault accidents will usually drop off after three years , and major violations -LRB- DUI etc. -RRB- will drop off after five years . As soon as he 's eligible to be insured through a standard carrier , list him . Many people do n't realize this and continue to pay non standard rates even after they 're eligible . I 'll preface this last point by saying I do n't recommend it . Some companies can exclude a driver . In so doing they 're not rated on the policy and they 're record does n't matter . But realize that there is no coverage if they get into an accident , even if they 're driving a car on the policy . Once again , I do not recommend this . From time to time I see a driver that has a problem driving safely . They routinely get tickets and have accidents . Some will even just stop carrying insurance because it 's so expensive but do n't seem to see the correlation between their driving and their insurance rates . If he will , get him into a safe driving program . If he wo n't , you 'll probably be dealing with this for a long time . Good luck .


Input: Is Long Term Care Insurance A Good Purchase?

Output: Long Term Care Insurance is a good purchase if there is a risk of needing nursing home , assisted living , or home health care in your future . My father waited too long to get long term care insurance , and no longer qualified for it . It would have been nice to have that extra income to help my mom care for him . There are so many ways that people can be laid up , and hospitals are reluctant to allow people to stay too long . So long term care insurance can be a very good purchase for helping those who need the care , and for those who give it .


Input: Is Long Term Care Insurance A Good Purchase?

Output: The # 1 risk in retirement is human longevity . The longer we live , the odds become higher that we will need assisted or living and/or nursing home confinement . The costs for care are ever increasing , so it 's important to protect your retirement income from the economic eroding affects of long term care costs .


Input: How Much Is Homeowners Insurance Deductible?

Output: That really can vary depending on the insurance company or value of your home . Many older policies in Connecticut for example have a $ 250 or $ 500 deductible . But in many cases , insurance companies are now issuing policies with a minimum deductible of $ 1,000 . Larger more expensive homes may be covered on a policy that includes a $ 2500 or higher deductible .


Input: How To Save A Lot Of Money For Retirement?

Output: Be frugal , try not to waste too much of your money on unnecessary things , buy what you can comfortably afford , pay off your credit cards and all of your other bills in full every month , put money away , and invest wisely . Time is a great friend for you because of the power of compounding interest . If you start saving money at a younger age , it can grow much more money in interest over those extra years and yield more money for you in your retirement years . It can be helpful to consult with a financial planner that can help guide you on managing your monies wisely . I would also recommend reading some books and articles that provide valuable tips on saving for retirement - there are a number of good ones out there . I hope the information is helpful - please feel free to contact me for assistance with your program and if you have any other questions . Thanks very much .


Input: Can I Get Health Insurance With A Pre Existing Condition In New Hampshire?

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


Input: Where Can I Find Renters Insurance?

Output: To find renters insurance look no further than your trusted insurance agent . If you dont have an agent , get recommendations from friends , colleagues and neighbors . An agent should listen to you , offer sound financial advice , and communicate clearly with you and the insurance company . The most important thing that the agent will do is advise you on appropriate limits . If your policy doesnt meet your expectations when there is a claim , nothing else matters .


Input: How To Switch From Medicare To Medicaid?

Output: Medicare is administred by the federal government wheras Medicaid is administered by your State . You must go to the county office that processes request for medicaid and low income subsidy to apply for medicaid . Typically you would retain Medicare as primary carrier and if you are approved for Medicaid it becomes secondary and pays the copays and deductibles


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

Output: No , in order to get a life insurance policy on someone else , you need to have an insurable interest in them . To put it another way , their death must cause you financial hardship in order for you to receive money for their death . If the other person is a close relative , just the emotional impact of their death is considered insurable interest , to a point .


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

Output: No , not really . In order to take out a life insurance policy on someone , you must have an `` insurable interest '' in that person . In a partnership business situation , for example , insurable interest is shared between the partners . Since the business would be affected by the passing of any partner , most likely having a financial impact , partners can arrange life insurance protection on each other to mitigate that impact should anyone die prematurely .


Input: How To Evaluate Disability Insurance?

Output: To evaluate Disability Insurance , you want to be sure to compare similar plans so that you are comparing `` apples to apples '' price-wise . You most likely want to include `` own occupation '' so that you can be paid if you can not perform your own job , not just any job . You will want a `` residual '' benefit in case you can work some , but not as many hours as before , or not produce as much as before in the hours that you work , or not make as much for what you do accomplish , due to your disability . You want to make sure it lasts as long as you would want , and that you most likely will have enough resources on hand to get you through whatever elimination period you select .


Input: Is Jewelry Covered Under Renters Insurance?

Output: Most renters insurance policies provide some limited coverage for jewelry less your 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: How Long Do Annuities Last?

Output: All annuities should be purchased as ultimate income products . Distributions can take the form of withdrawals , period certain like 10 or 20 year payouts and even lifetime income you ca n't outlive . If you annuitized your deferred annuity with the life only option , it will generate income for the rest of your life .


Input: Can Disability Insurance Be Garnished?

Output: While Disability Insurance may be exempt from garnishment in your state , if your funds are comingled with your other funds in your bank account , it is possible for your bank account to be garnished . So it is a good idea to set up a separate bank account for your Disability benefits . If you are ordered by the court to pay child support , or have unpaid bills , then your Disability Insurance proceeds may be subject to garnishment .


Input: Can I Get Life Insurance If I Have Had A Stroke?

Output: Getting life insurance after having a stroke is challenging , but usually can be done . If the stroke has been over two years ago , there are a number of simplified issue policies that will offer coverage . If the stroke was within one or two years , guaranteed issue policies will cover stroke , if available in your state . Most of these types of policies have a minimum issue age of 40-50 years old . For simplified issue , you must be able to do ADL 's indpendently ; for guaranteed issue , you do not . If the stroke was very mild and not repeat problems , some medically underwritten policies are available . Consult an agent or agency experienced in impaired risk life insurance to shop the policy for you .


Input: Can I Get Life Insurance If I Have Had A Stroke?

Output: Guaranteed and simplified issued may be available by several life insurance companies for depending how long ago the potential insured experienced a stroke and how severe it was . Depending upon the insureds history and the severity of the stroke , fully underwritten policies may be an option to explore .


Input: Will I Have To Pay Taxes On Life Insurance?

Output: There are no taxes for owning a life insurance policy . If it increases in value , there are no reporting requirements . However , if you surrender the policy and the amount you receive exceeds the total of premiums paid , then you have taxable income . If you die , your beneficiaries will not have to pay income tax on the proceeds , however , the proceeds are includable in the estate/inheritance calculations which could generate a tax liability . There are other conditions where tax could be imposed but generally speaking life insurance proceeds escape taxation .


Input: Will I Have To Pay Taxes On Life Insurance?

Output: Most life insurance benefits do not necessitate paying income taxes . If you are the owner or beneficiary of a policy where the cash value is over the amount paid in , you may need to pay taxes on the gain . Federal estate taxes , and possibly state estate taxes -LRB- depending on where you live -RRB- may be charged on the portion of the estate value above the exempted amount , when there is not a surviving spouse . The federal exemption is 5.25 million dollars . The exceptions above represent a small percentage of life insurance policies . Life insurance is especially appealing because no tax is paid on most policies , ever .


Input: Can I Transfer My Car Insurance To A Rental Car?

Output: Most automobile policies extend coverage from a covered automobile to a rental . The terms and limits of your policy apply . In some cases state rules might mandate slightly different coverage in which case your policy will adjust . Rental companies offer coverage that allows you to report the damage and walk away . That could be an advantage .


Input: How To Set Up A Personal Retirement Plan?

Output: There are many options for funding retirement . But here are the two tributaries of thought . The first thing you should determine is your effective tax bracket . If your tax bracket is high you may want to consider a qualified plan like a 401 -LRB- k -RRB- , especially if your employer offers a contribution match . But if your effective tax bracket is small and you have no employer sponsored plan , then a non qualified retirement alternative that uses life insurance or annuities should be a consideration .


Input: How To Set Up A Personal Retirement Plan?

Output: First determine your retirement plan should be qualified or non-qualified . Are you a business owner or an individual ? Are you or your business in a high tax bracket ? How long do you think youll contribute to the plan and what amounts will you contribute ? Then you need to establish a personal financial profile that includes risk assessment , financial goals and a life expectancy report . After you have completed this list , you can determine which qualified plan to use .


Input: Is There Medicaid Or Medigap To Help With Medicare Payouts?

Output: Absolutely !! There are Medicare Supplements offered through private insurance companies like Humana and Aetna that will help pay some of the costs not covered by Original Medicare or some supplements like a Plan F that covers everything that Medicare does not cover except of course prescription drugs . You still need a Part D prescription drug plan . The cost for a Medigap or a Medicare supplement can range from $ 50.00 to $ 350.00 at age 65 depending on the level of coverage you would like.Open enrollment which allows you to move in and out of these plans is Oct 15 to Dec 7th every year . Another option is getting a Medicare Advantage Plan , which is also offered by private insurance companies but most of the time there are plans available with a $ 0.00 monthly premium in addition to what they already take out of your check for part B. Instead of paying 20 % like Medicare , you pay low or no co-pays when you seek medical services . There are usually no deductibles on a Medicare Advantage Plan either . For more info please visit : rocoinsurance.com/medicare-products.html


Input: What Do You Need In Renters Insurance?

Output: A renters Insurance policy does two things . First , it provides coverage for the physical damage or loss of your personal property from either named or broadly implied perils . So you would need to have an idea of the value of your belongings . Second , it provides liability protection for anything that you may be responsible or legally liable for . Injury to another person or damage to their property are examples .


Input: When Is Open Enrollment For Medicare B?

Output: You can enroll in Medicare Part B when you turn 65 , when you have a special enrollment period -LRB- e.g. you 're 65 or older and coming off of group coverage -RRB- , or during the general enrollment period -LRB- January 1-March 31 of each year -RRB- . Please note , when you enroll in Part B during the general enrollment period , your effective date for the coverage will be July 1st . You may also be eligible for Part B under age 65 if you 're on social security disability or have a specific medical condition -LRB- e.g. ESRD or ALS -RRB- and meet eligibility requirements . Please note , if you do n't enroll in Part B when you 're first eligible and you do n't have a special enrollment period available to you , you may be subject to a late enrollment penalty -LRB- premium can go up 10 % for each full 12-month period that you could have enrolled in Part B , but did not -RRB- . When you enroll in Part B , you also activate your 6-month open enrollment period to purchase a Medigap plan to cover the gaps in original Medicare -LRB- Parts A & B -RRB- with NO MEDICAL UNDERWRITING ! This is the best time to buy one if you do n't want to create an extremely predictable healthcare expense structure . Please feel free to contact me for further assistance . Thanks very much .


Input: When Is Open Enrollment For Medicare B?

Output: Your initial open enrollment period for Medicare Part B occurs when you 're turning 65 years old . It 's a 7-month window that starts 3 months before your birth month and ends 3 months after . If you enroll in during the 3 months prior to your birth month , then your effective date will be the 1st of your birth month . If you enroll during your birth month , your effective date will be the 1st day of the following month . If you enroll 1 month after you turn 65 , then your effective date will be 2 months after you sign up . If you enroll 2 months or 3 months after you turn 65 , then your effective date will be 3 months after you sign up . To avoid being hit with any delays , it is ideal to sign up during the 3 months prior to your birth month so it starts the month you turn 65 . Note - when you enroll in Medicare Part B , it activates your 6-month open enrollment period to buy a Medicare Supplement -LRB- Medigap -RRB- policy . Medigap plans covers what Medicare Part B does n't cover . This is the best time to buy a Medigap plan because you can secure any Medigap plan without any medical underwriting . This means that you can buy a plan regardless of what your medical history is . You also have the `` general enrollment period '' available to you if you do not sign up when you first turned 65 . This enrollment period for Medicare Part B occurs from January 1st through March 31st of each year . During this time , you can sign up for Medicare Part B if you did not do so when you turned 65 and do not have a special enrollment period available to you . Please note , if you sign up during the general enrollment period for Medicare Part B , the effective date for the coverage will be July 1st . You may also be subject to a late enrollment penalty if you enroll in Medicare Part B after your initial open enrollment period - calculated as a 10 % penalty for each 12-month period you could have had Part B and went without it . You may also have a `` special enrollment period '' available to you . A common scenario when this occurs is when someone comes off of group coverage through an employer . The effective date of your Medicare Part B coverage would be the first of the following month after you sign up . I hope the information is helpful - please feel free to contact me for help with your Medicare Supplement plan needs and if you have any other questions . Thanks very much .


Input: Will Health Insurance Pay For Dental Work?

Output: The short answer is generally no , that 's what Dental insurance is for . However , there are several caveats to this . First , the Affordable Care act does require pediatric dental coverage as part of the offer the health insurance plans have to make , so there is now some dental coverage for your children available in health insurance . Check with your current carrier to get the details . Secondly , there is a difference between , check up , filling a cavity , teeth clean etc. and an actual medical condition . For example , if your jaw was broken in a fall and it damaged some of your teeth in the process . Your health carrier may cover some or all of it because it is injury related and part of a larger issue . or is you have a cancer that destroys part of your jaw and teeth , again this is a medical issue and not just a dental one and your carrier may cover some of the medical expenses .


Input: Can I Add My Son To My Policy For His Car If I Am Not On The Title?

Output: Insurance always follows the vehicle so the owner of the vehicle has to maintain insurance in his or her name . If your son 's car is solely titled to him he would need to obtain a separate insurance policy . If your son still lives with you , you want to add him as a resident driver and have him add you as a resident driver on his policy . Depending on your insurance company if you are both insured with the same company the company wil cross reference policies to secure a multi-car discount .


Input: What Is An Average Cost For Renters Insurance?

Output: Great question ! The cost of your policy can vary based on a lot of things . The size and age of the apartment complex , what the crime rates are around it , and where it is located -LRB- City/state/zip code -RRB- as well as the size of your family and the estimated cost of your belongings . I 'd recommend going online for price comparisons , or contacting an agent who can help you find a policy for you . I 'd be happy to help if you need , feel free to contact me . Thanks for asking !


Input: What Is An Average Cost For Renters Insurance?

Output: Renters insurance cost varies from state to state and even zip code to zip code . In the State of Texas we are seeing an average of $ 20 per month . Some times less and some times more but I highly advise you getting this coverage . Most people do n't realize their renters insurance covers anything stolen from their vehicle that is not connected to the auto .


Input: Who Is The Guarantor On Health Insurance?

Output: Your question does not have an easy or simple answer . When you receive treatment from a medical provider you accept financial responsibility for claims not paid by your health insurance carrier . The health insurance company is a guarantor of sorts -LRB- if you have a fully insured plan -RRB- but there may also be other carriers backing them up . With self funded health insurance your employer or union is the guarantor and they may have reinsurance in place to back them .


Input: What Is A Life Insurance Trust Fund?

Output: A Life Insurance Trust Fund is a trust that holds a life insurance policy or policies . The fund actually does not hold cash except what exists in the policy , and the only cash paid into it is to pay the premiums of the policy and cover any expenses the trust may incur . It is upon the death of the Grantor-Insured that the death benefit is paid to the trust and distributed according to the terms set forth in the trust .


Input: What Is Waiting Period In Disability Insurance?

Output: Disability Insurance is intended to provide coverage in the event of a disability that prohibits a person from being able to work . The understanding for this type of policy is that a certain amount of time must elapse to prove disability . That is called the waiting period . It is expected that the insured will cover their own expenses until the waiting period has expired and benefits can begin .


Input: What Is Waiting Period In Disability Insurance?

Output: The elimination period is basicallythe policy deductible and is usually the number of days from the onset of disability for which no benefits are payable . Typical waiting periods are 30 , 90 or 180 days , though some policies do have 365 day waiting periods . The longer the waiting period , the cheaper the policy .


Input: What Is American Life Insurance?

Output: Since 2011 , American Life Insurance Company , also known as ALICO , has been a part of MetLife , the largest life insurance company in the US . It was acquired from AIG . It is a big , US based global life insurance company with a focus in Asia . Since then , some non strategic parts of the company in theCaribbeanwere sold to Pan-American Life .