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How Much Does A Whole Life Insurance Policy Typically Cost? | The simple answer to this question is : It Depends . :-RRB- It depends on a variety of factors , including : How much death benefit you would like . Your health status . Your age . The company you would buy it from . The features you would elect inside the policy . There are several types of Life Insurance coverage for a person to choose from , each with its own features and own purpose . In general , for a stated amount of death benefit coverage , monthly or annual premiums for a Whole Life policy are higher than a Term Life policy , but it would be faulty to compare those types of policies just based on monthly premium . Do n't make the mistake of comparing those types of policies just based on monthly premium . Speak with a knowledgeable professional about your goals and how life insurance may fit in so that you can make the best decision for your situation . | As there is No one best Life policy , So many variables determine what is the best Life policy for your specific needs . For example : term policy vs. whole life policy , final expense policy , budget , what is the planned use of the funds created by the policy etc. . . |
How Much Does Universal Life Insurance Cost? | All life insurance costs are based upon life expectancy , earnings and overhead . These in combination result in the cost for one year of coverage . When the period to be protected is longer than one year then there must be consideration given to the total cost of coverage and the earnings the company could anticipate . This is where you get a premium for a 10 , 20 , or 30 year term policy . Permanent insurance does not have a termination date and as a result must consider every conceivable coverage cost and establish a program where the earnings of the policy will be sufficient to meet those obligations as they arise . Whole Life is the traditional way to handle this issue and the company designs a plan that will provide a level amount of protection for the remainder of the insureds life in exchange for a level premium . A universal life policy differs from the whole life policy in that the earnings are not guaranteed . The company maintains a separate fund . This fund will have earnings that are different from the general fund . If the earnings are greater the cost of the policy will be lower , reflecting the earnings . Because the earnings are not guaranteed they change from year to year . This affects the companys ability to pay the full death claim . Each company issues an annual statement that shows the values and projected values . The insured can reduce or increase premiums at their own discretion . | Yes , in most cases . Insurance follows the driver . It is always good to check with your agent however , since state laws may vary and the type of policy you have may have limitations . In most cases however you will be covered if you are driving someones car . |
How Much Does Universal Life Insurance Cost? | The cost of a any Life insurance policy depends on the amount of coverage you want plus how quickly you want the cash account to grow and factored in with how long the insurance company determines that you will live and pay the premiums . Usually $ 15 is about the lowest premium and the sky is the limit on the upper end . Asking such a general question like that is the same as asking how much does a car cost ? Lot 's of variables . | The definition of Disability Insurance is an insurance product that provides supplementary income to persons who are unable to work for a period of time due to a disability . Disability insurance pays a monthly cash benefit to persons who have suffered an illness or injury that prevents them from working at their job for an extended period of time . |
How Much Does Universal Life Insurance Cost? | Universal Life Insurance usually costs more than Term Life Insurance , because it covers the insured person to an older age . Universal Life may also have cash value , which is a feature that usually commands a higher premium . However , Universal Life can be paid up by paying premiums a set number of years , and when you look at the amount of Term premiums paid over one 's lifetime , Universal Life may end up being cheaper . | Most life insurance companies will delay issue of a life insurance policy to a felon until some time after incarceration and/or probation have been served . Guaranteed life insurance policies do not have that requirement , and the guidelines for some products are definitely stricter than others . Contact an agency that sells multiple products , both medically underwritten and simplified issue , to find your best life insurance rates with a felony . |
How Much Does Universal Life Insurance Cost? | The answer to this question is the same as for all types of life insurance . It depends on the amount of coverage , the age and rate class of the applicant , and what you want the policy to do . The unique nature of universal life allows for a range of premium , which provides a bit of flexibility not easily duplicated in other types of permanent life insurance . | Personal automobile insurance is car insurance in general . Personal automobile insurance can cover just liability or you can cover your own car as well with physical damage . Auto insurance is required by law and there are state minimum coverage limits vary by state . Personal automobile insurance will cover autos owned by individuals instead of a commercial auto policy that covers commercial autos . |
How Much Does Universal Life Insurance Cost? | How much coverage are you looking for ? There are many companies that offer universal life insurance , however , the products can vary substantially between carriers . The first thing you want to find out is which products are guaranteed universal life programs , meaning even if the cash value hit $ 0 , the policy will still pay a death benefit as long as you keep paying your premiums . Current assumption -LRB- non-guaranteed -RRB- universal life programs can seem great on paper and may offer a lower premium that Guaranteed Universal Life policies , but carry a lot of risk - if the cash value hits $ 0 under these programs , then the policy crashes and you 're left with no benefits . You would subsequently have to keep paying more and more into the policy at higher amounts to keep it going . There 's many factors that go into the premium calculations for life insurance to say what universal life insurance will cost - it will be different for every person due to a number of factors including their age , amount of coverage they want , how long they want the coverage for , their risk classification , and other factors . When comparing policies from each carrier , the first thing you need to understand and determine is the risk classification you qualify for because the risk class determines the premiums . Also , not every carrier is going to offer the same risk class for a given medical history - they each have different underwriting guidelines , meaning company A could offer standard to a given profile and another carrier may be able to offer preferred . You should always consult with an experienced life insurance broker BEFORE applying for ANY coverage . Brokers can shop the case for you among a number of insurance companies to see which one will work best for your program and help you structure a policy that will best serve your needs and your 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 . | In order to convert a 401 -LRB- K -RRB- to a Roth IRA you must pay income tax on the entire amount of the 401 -LRB- K. -RRB- The Roth deals with after tax dollars and the 401 -LRB- k -RRB- has only untaxed dollars , unless there are excess contributions allowed which are made with after tax dollars . There are times when this is a very smart move , though , and should not be discounted . In the long run , the Roth IRA is received income tax free which might be a greater benefit . |
How Much Does Universal Life Insurance Cost? | Universal Life Insurance is an insurance Policy that gives you the option to contribute or adjust payments during a specific term . It is low priced and a great benefit for the policy holder due to the option . Universal Life Insurance has all the benefits and riders of a whole life policy . some Universal Life Policy have a cash value accumulation , and an increased benefit , so , EX : If you have a 100k policy and its paying 63.00 a month the forst year as the year may come to maybe 25 years later depending on age when the policy first opened the benefitamount can be one half more or maybe double . | Life insurance is often assigned to a lender to secure a debt . In that event , the insurance company will pay the lender before paying anything to the beneficiary . Otherwise the beneficiary receives the proceeds and can dispose of the money in any legal manner that they wish . Life insurance proceeds are used to pay off debts every day . |
Can Term Life Insurance Be Extended? | Can term life insurance be extended ? It depends on what you mean by extended ? Many level term policies do not end after the level period ends . These policies can be extended on as annual increasing premium term policies . This extension will cost much more than the original policy cost as rates are based on current age . A term policy can not be extended past it 's contracted enddate as that would violate insurance laws about policies . | You should have life insurance if you want to provide a financial benefit for someone who would suffer financially from your death . This could be a family member , a business partner , or some person to whom you owe money . You should also have life insurance if you want to make it easier for your family to take care of your funeral and burial or cremation . Life insurance pays quickly without having to go through probate , enabling final expense bills to be paid with that one check . |
Can Term Life Insurance Be Extended? | Some policies offer a Guaranteed Insurability Rider that allows you to obtain additional life insurance at certain dates , regardless of health . Also , new `` Term-UL '' products combine features of Term and Universal Life , giving you more flexibility than just Term life insurance . Regardless of how life insurance is extended , it almost always costs more than the original rate . The exception would be if your risk lessened and you are able to qualify for a new policy at a better rating than you originally had . | According to the 2012-2013 `` Sourcebook for Long-term Care insurance Information '' , published by the American Association for Long-Term Care Insurance -LRB- AALTCI -RRB- , there are some 40 insurance companies with 14,000 or more `` covered lives '' . Genworth Life currently hasthe largest number of total covered lives.Second is John Hancock.Unum and MetLife are third and fourth , but they no longer actively market LTC insurance . Fifth is Continental Casualty which only sells group LTCi . |
Can Term Life Insurance Be Extended? | Typically , term life insurance policies have a guaranteed number of years that the death benefit remains level and the premium does not change . That would be regardless of any change in your health . And of course , you can terminate a term policy at any time . At the end of the term , you may have aguaranteedrenewalrate that is quite high although you can attempt to qualify for a lower rate . You can also -LRB- depending on the policy -RRB- convert to apermanentplan . | Applying for extra help with Medicare is commonly called Low Income Subsidy -LRB- LIS -RRB- . In order to apply for that coverage one typically has to go to the county office that processes the needs for low income individuals . Some of the insurance companies also employ social workers professionals that can assist with the process of applying and are trained to do so when completing the health screening visits |
How Long Does A Life Insurance Claim Take? | In most cases , it may take as little as a week or two to receive death proceeds of a life insurance policy from the time the insurer receives a claim form and the death certificate . Some insurers may take a little longer . In the event of death in the first two policy years , the insurer will need more time to investigate the claim as death occurred within the two year contestability period of the policy . | It depends if your financial liabilities and obligations are temporary or permanent . Term life insurance generally covers a time certain period where financial exposure exists for the beneficiaries of the policy insured . But that exposure can be ongoing well into retirement and sometimes have estate transfer consequences that can impact heirs . That 's when you need permanent life insurance . |
What Happens When I Cancel Life Insurance? | When you cancel your Life Insurance policy , you are not only giving up the coverage you purchased but you may also be giving up your insurability and cost of insurance . When you applied for the coverage you are considering cancelling , you went through underwriting to determine if you are `` insurable '' . While you are insured , if your health was to deteriorate , the insurance company still maintains the coverage you have . If after cancelling your policy , your health starts to suffer , then when you try to reapply for another Life Insurance policy , you may not be insurable and at best you will have to pay more in premium . Plus consider you will be older which also increases your premium . I recommend that you talk to your broker/agent first to discuss your situation and see the alternatives you have . | There are a variety of annuities . Fixed annuities offer guaranteed interest for the life of the contract . They offer a lifetime of monthly payments , regardless of how old you become . It is pretty difficult to get anything that will do that . Other annuities can be a bit less guaranteed in exchange for an opportunity to participate in market based products ; however many of these have spectacular guarantees as well . |
What Happens When I Cancel Life Insurance? | Your coverage ends . When you 're cancelling a term life insurance policy , that 's the end of it . They do not have any cash value . A carrier may return a pro-rated portion of the last premium payment if you canceled it before it lapses , but that will vary by carrier . Most people will just not pay the premium and allow the policy to lapse on its own . If you 're terminating a permanent policy -LRB- universal or whole life -RRB- , there will generally be cash value in the policy to be collected - the cash value is subject to surrender charges if they have not been zeroed out yet -LRB- this depends upon the structure of the policy and how long it 's been in force -RRB- . | Many carriers will not provide renters/homeowners insurance coverage if the insured has a trampoline on the property that is covered . 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 . |
Does Medicare Part B Cover Shingles Vaccine? | Unfortunately no , Medicare Part B does not cover the shingles vaccine . This vaccine is generally covered under a Part D prescription drug plan - most Part D plans will cover vaccine shots needed to prevent illness such as the flu shot or shingles shot . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . | The resultant damage from your leak will likely be covered if it is caused by something other than wear & tear . Wear & tear is excluded under most homeowners insurance policies . If lightning strikes the roof and you have an Ho-3 insurance policy , it will cover the damage to the roof and the leak damage . Always check with your independent insurance agent for specific coverage options that your policy has . |
Does Medicare Part B Cover Shingles Vaccine? | Medicare Part A and Part B do not cover the shingles vaccine . The vaccine is covered under Part D , prescription drug coverage . Contact your drug plan to see what your co-pay would be for the shingles vaccine . Medicare Part B will cover a yearly flu shot and the pneumonia vaccine . | By paying your Social Security taxes you are paying for the right to receive Social Security Disability -LRB- SSDI -RRB- benefits if you were to become disabled . The criteria for receiving Social Security benefits may be stricter than the criteria for a private Disability insurance policy , and the amount of benefit received is less than you can get with most individual Disability insurance policies . |
How Do You Buy Renters Insurance? | Select an agent you can trust . Your friends and colleagues can usually provide you with recommendations . Provide the agent with all the information requested . Dont underestimate the value of your personal property . Follow the agents recommendation and take the highest liability limit possible . Make sure the agent transmits that information to the company . Make sure the policy is exactly what you ordered . | That is a great question ! If you can afford to contribute to both your Roth IRA and your 401k , then by all means do so ! What a great way to provide for your retirement . You can contribute $ 5500 per year -LRB- $ 6500 if you are 50 + -RRB- to your Roth , and $ 17,500 in your 401k . Ideally , you contribute the max to your 401k , especially if your employer matches , and then fund your Roth , to ensure that you have some tax free income to balance the taxed income from the 401k . What a great question ! Thanks for asking ! |
Why Do Kids Need Health Insurance? | Kids , like anyone else , are at risk of life 's unexpectedhappenings . In order to protect ourselves and our families from financial loss due to these unexpected events ... it is vital to have proper health insurance in place . Also , it has always been a major benefit to have good health insurance to receive the best carepossible . | The rating you get when applying for life insurance while having Hepatitis B or Hepatitis C depends on a number of factors . Have you had a liver biopsy ? If so , did it show fibrosis or cirrhosis ? Did you try treatment ? If so , was it successful ? What are your liver lab values ? These and other questions make a big difference in whether you can get q medically underwritten policy , and what you will be rated . If you are unable to get a medically underwritten policy , there are a number of No Exam policies that cover Hep C. Find an agency that specializes in impaired risk to help you sort through the choices and find one that works for you . |
Why Do Kids Need Health Insurance? | Kids need health insurance for many reasons . Perhaps one of the most important reasons is to protect against a catastrophic illness or accident that could cost tens or thousands of dollars in expenses . Without insurance , most of those expenses will have to be paid by the insured or his/her parents . Also , preventive expenses are covered at 100 % and the treatment to children is critical to continue their good health . | The death benefit is usually income tax free to the beneficiary . The reason why I say usually is because there are a few circumstances where the benefit would be taxable . If the death benefit is paid out in installment payments and is gaining interest , the beneficiary would have to pay taxes on the interest earned . The beneficiary of a life insurance policy receives a lump sum of money from the insurance company that is not included as income . The applicant does not pay any taxes on their premium payments as well . Life insurance also skips probate court . Probate court is the court that deals with distribution of assets after one passes . Most individuals have their assets tied up in probate from six months to over two years . Walt Disney passed away in 1966 his estate is still in probate . Nobody has access to the individuals estate until it has gone through the probate court . Life insurance bypasses the probate process and goes to the beneficiary income tax free in most cases . |
Does Private Disability Insurance Work? | Yes , private disability insurance does work . When a disability occurs , it pays you part of your income as designated in the policy . If you have disability insurance through work or receive Social Security disability insurance , it supplements that to give you a greater percent of your income . I have spoken with many people looking for life insurance who have developed MS , diabetes and other health conditions who are very grateful that they have private disability insurance income coming in . | There are carriers in Montana that can cover you with a suspended license . Some carriers in other states may have different guidelines but many will write it . If you are required to get an SR22 so you can get your license back after you have your license back the carrier will adjust your rates with a valid license . |
Does Private Disability Insurance Work? | Provate disability insurance is paycheck protection against sickness or injury . While health insurance covers expenses and bills incurred for hospitalization , disability benefits pay you a monthly income generally tax free . Most Americans only have 90 days in cash reserves , so disability insurance is important . Make sure you have income ready to go for the unexpected events that occur in life . | A person that would be able to take out a life insurance policy on you would have to have a vested interest in your death . Examples would be an immediatefamily member , a caretaker , a business partner or a key man to a company would have a true loss if you were to die . No one however can take a policy out on you without your knowledge and consent . You must be underwritten regardless who pays the premiums . No one without a vested interest would be able to take out a life policy regardless . |
Can I Get My Own Health Insurance? | Yes and it 's easier now than ever . Individual plans have no exclusions for pre-existing conditions for the under 65 health insurance plans . Many insurance carriers offer all kinds of different plans . You have a lot of options . For people age 65 & older they can even get their own health insurance . A lot of people get Medicare Supplement insurance to go along with Medicare Part A & B . It covers a lot of what Part A & B does n't cover . The best thing to do is to contact an independent agent that specializes in health insurance . They will be able to show you all the plans that are available and help match the best plan with your needs . | Assuming you mean lifetime income you cant outlive : single premium immediate annuities with the option to distribute regular payments for the life of the annuitant or deferred annuities that are annuitized for the life of the annuitant can be construed as a living annuity . |
Is An Indexed Annuity A Fixed Annuity? | Is an indexed annuity a fixed annuity ? No , not usually unless provisions exist within the indexed annuity to mimic a fixed annuity . With a fixed annuity you 're provided a set interest rate for the year from the insurance company . It is up to the company to come through as they 've committed themselves for that outcome . An index annuity on the other hand , has potential for a variety of returns established by the policy owner . A return could be as high as 10 % for a year or zero percentage based on how the individual creates the policy . | Your policy may provide some limited coverage for your ring under it 's standard terms and conditions . However , keep in mind that the loss would be subject to your property deductible AND the coverage may be limited to specific causes of loss . Talk to your insurance professional about either a jewelry rider or stand-alone policy for your valuables . The coverage is usually much broader in that it includes loss due to , well , loss . A Homeowners policy does not provide coverage for items that are just lost . However this `` mysterious disappearance '' is usually covered under a rider or separate valuable items policy . In addition , there is usually no deductible applied . |
Is An Indexed Annuity A Fixed Annuity? | A fixed annuity is a contract issued by an insurance company . In that contract the owner is not really required to do anything except make at least one deposit . The insurance company guarantees everything else . The insurance company will accumulate money in the annuity , if it is deferred , and guarantees that the money will receive a guaranteed amount of interest each year . Currently there are a great number of fixed annuities in force with interest rates far in excess of the interest rates offered to new customers . The company guarantees those rates for as long as the contract is in force . These guarantees continue into the annuitization phase when the company will return to the annuitant an amount of money guaranteed by a formula inside the contract and will make those payments until the annuitant passes away , or even beyond in many cases . Everything is guaranteed by the company . In contrast a variable annuity has few guarantees . The owner can choose into which funds the deposits will be invested and can often select to maintain that control even when the policy is annuitizing . This results in uneven results both during accumulation and annuitization . Sometimes that works for the benefit of the annuitant , but it could work against the annuitant if the underlying securities fail to perform . Incidentally it takes someone with a variable annuity license to sell this product . An indexed annuity is somewhere in between these extremes . The money that accumulates in the contract usually has a guaranteed minimum level of interest . This is often 0 which can be a great deal better than a significant minus number . The amount of interest credited to the account is linked by the insurance company to one of the leading indexes . The Dow Jones Average is one index . The Standard and Poors index is another . The company uses these indexes to set the interest that will be credited to the account . Normally the index annuity does not receive the exact interest rate indicated by the index . There will either be a ceiling above which the insurance company will not go or the interest rate is modified by a factor . For example if the S&P went up 10 % , depending upon the contract , the indexed annuity might pay 7 % or 70 % of the index according to the contract . However it might pay 5 % because there is a 5 % ceiling on the interest the company will pay . The index annuity is attractive because it allows the annuitant to participate in the results of the market without ever actually holding shares of stock . It has upside potential but it doesnt have any downside risk . During a rising market we would expect the index annuity to do quite well , However , it might not do as well as the Variable Annuity . During a down market it will not lose money , however a Variable Annuity can lose money . At the same time the Fixed Annuity will continue to earn its guaranteed rate of interest and may even raise its interest rate from time to time , but everything is guaranteed . | The first thing to keep in mind when it comes to Medicare Supplement plans is that there is a certain number of plans available . Companies can choose which ones to offer -LRB- A , B , C , D , etc -RRB- but the plans are standard for the insurance industry . The insured needs to look at -LRB- 1 -RRB- the company offering the plan because claims will be handled by customer service and you want to be comfortable calling in if you have questions -LRB- 2 -RRB- reputation of insurer , hoping they have a good reputation in the insurance industry and -LRB- 3 -RRB- a good agent who can be a real help if you ever need assistance with your policy . These plans make sense for Medicare recipients to help them control out of pocket costs . |
Is An Indexed Annuity A Fixed Annuity? | That is a great question . And the answer is no sir , they are very different . With a fixed annuity , you are guaranteed a rate of interest that will be paid on your annuity . On the indexed one , the interest rate will vary , based upon the performance of the index that the rate is tied to . That interest rate will also be influenced by whatever cap rates , participation rates , and crediting strategy is chosen . With the fixed annuity , you have the certainty of knowing the end result , with the indexed product , it 's anybody 's guess . I hope that helps , thanks for asking ! | Life insurance pays directly to the beneficiary or beneficiaries upon the death of the insured . Property -LRB- such as a car or a record collection -RRB- , assets -LRB- such asstock or a bank account -RRB- , dependent children -LRB- whose custody would need to be settled -RRB- are all matters you would take care of with a will . Life insurance will pay according to the policy regardless of any mention in a will . |
Renters Insurance Is It Required? | The majority of landlords require their tenants to have renters insurance with a lease provision . No state law requires renters insurance , aside from a few local laws pertaining to people with certain breeds of dogs who must maintain liability insurance . But it 's certainly a good idea to have , because one break-in or fire would devastate you . Renters insurance replaces your property in a matter of days , as opposed to the years you 'd have to work to replace one thing at a time as you can afford it . | To determine what Life insurance is best for you contact an Independent agent who will listen and can recommend the most options for the best coverage/premiums based on your specific needs . It is time well spent , having this conversation to determine to determine what is the best fit for you and your specific needs . |
Renters Insurance Is It Required? | It can be by the property owner , which is perfectly reasonable . The property owner wants to lease space to responsible individuals to be sure , ut they also want to make sure that they are well protected in the event that one of their tenants does something that causes injury to someone else or damage to the rented space . | A fence is consider an other structure and is covered by a homeowners policy but the question would be by what loss . If the fence blew down in a wind storm or destroyed by fire or was even a result ofvandalismyou would have coverage minus your deductible . However if the fend is just old , wore out and falling over this would not be a covered peril of your policy . Also keep in mind , fences are often shared so your insurance would be responsible for half the fence and your neighbor the other half . |
Renters Insurance Is It Required? | While the state doesnt require it , your landlord might . The landlord wants to know that you can take care of a lawsuit that comes from your living in his unit . He also wants you to know that your personal property isnt his responsibility . Even if his building burns and in the process your property is destroyed , he isnt responsible for your property . | An employer , that is a S Corporation , is allowed to deduct employer contributions for health insurance for employees . The employer can not deduct health insurance premiums for stockholders that own more than 5 % of the stock in the corporation . Stockholders health insurance premiums are passed over to the individual stockholders and taken as a direct tax deduction on the 1040 form . The net effect is the same . |
How Will Health Insurance Change In 2014? | I do n't think anybody has the answer to that question . My assumption is that the benefits wo n't change much for 2 reasons : 1 -RRB- The Affordable Care Act mandated certain benefits - so those have to stay 2 -RRB- The other non-mandated benefits have always been a part of health insurance -LRB- hospitalization , ER , Dr Visits , etc -RRB- . Open enrollment starts Nov 15 , 2014 - so you can find out from your broker/agent then . I wonder how much the premiums will change . Seemingly they would go up since not enough `` young & healthy '' people applied for coverage to offset the claims made by everybody else . However , I understand that the carriers will have to determine 2015 rates before they have all the data . So it 's anybody 's guess . | Yes , you can cancel life insurance at any time . With Term insurance there is no penalty for cancelling at any time , except for losing the coverage . With Whole or Universal Life , there is a surrender charge in the first years of the policy that will be deducted from any cash value you might have gotten back . If there is no cash value , you simply lose the policy . Keep in mind that , unless you paid extra at the start , the first years of the policy do not generally accumulate cash value as quickly as later . Talk over cancellation of your Whole or Universal Life with an agent who can explain the consequences and options for keeping it in some form . You may find that cancelling is not want to do , after all . Or you may have affirmation that you are doing the right thing . |
Is My Life Insurance Taxable? | Life insurance is not taxable for income tax in most situations . A Term life insurance death benefit that is paid to a beneficiary in a lump sum , and does not put the estate over 5.25 M , would not incur estate or income taxes . If there is some interest earned on the death benefit due to being paid in installments , if the owner of the policy transferred the policy ownership to someone else before death , if the estate is over the exempted limit , or if the beneficiary of the policy is the estate , then there may be some taxes charged . Contact a tax attorney for specific situations . | That is a great question ! If you mean like by looking at your license plate , the answer is no . If you do n't have proof of insurance when they pull you over though , you 'd better hope mightily that you do n't live in one of the states that allows officers to check the national insurance database . Either way , if you do n't have insurance when you are caught , you will pay dearly for it , and if you did , but could n't prove it , you are most likely still going to have to pay a fine . Good luck , and thanks for asking ! |
Is My Life Insurance Taxable? | Life insurance benefits are not taxable to the beneficiary generally . However , if the amount of the estate passing to that beneficiary is large enough , they may become taxable . This is very rarely the case , and can usually be dealt with by the proper planning with an appropriate trust . The need for that is only if over 5.34 million dollars . However , in any event , you should talk with both your life insurance agent and your estate planning consultant . I would be glad to assist you with both . GARY LANE . garylane@cox.net . 714 422 9616 . | The major disadvantages of a fixed annuity are : the accumulation is set at a fixed interest rate and does not always keep pace with changes in the market . The owner of the annuity doesnt have any control over the investments that underlie the annuity . When the annuity is converted to lifetime income all control over the value of the annuity is released . These can be seen as disadvantages or advantages depending upon the need of the consumer . |
Does Home Insurance Cover Laptop Damage? | It depends on your home policy , and what happened to the laptop . Your home policy protects your property against certain risks . If your laptop was stolen you may have coverage , but if you dropped it or spilled a drink on it that would not be covered on your home policy . In most cases though , your deductible is going to exceed the value of the laptop regardless of what caused the loss . Furthermore , you should try and protect your loss history . If your decuctible is $ 1,000 and it costs $ 1,200 to replace the laptop , your compensation will only be $ 200 . This may not be worth filing the claim as you may lose discounts for a clean loss history and the increased cost of insurance may not be worth it . | The time to shop for insurance is before you visit the dealer . Contact your agent and ask for a quote . Armed with that information you have a vital piece before you start negotiating fora particular vehicle . When you decide on which vehicle you want first it is possible that you might select a vehicle that is significantly more expensive to insure . |
How Much Will Insurance Pay For My Totaled Car? | That can vary but one way to begin to understand the possible settlement is to research your car 's book value through sources like NADA or Kelly Blue Book , both of which have on line sites that are very good and easy to use . Once you have that information , another good rule of thumb to know is that an insurance company will `` total '' a car when the damage cost to repair begins to approach the book value . Usually at about the time the repair cost hits about 70 % of the book value , the likelihood that the adjuster will determine the car to be a total loss becomes very great . In many cases then , as a guideline , figure a settlement offer to be about 70 % of the average book value of your car . This is a guide of course , your claims professional will make the final determination . | Medicare Benefits are started automatically the first day of the month you turn 65 if you are already getting benefits from Social Security or the Railroad Retirement Board . Youll get your red , white and blue Medicare card in the mail 3 months before your 65th birthday . If youre not getting Social Security or Railroad Retirement Board and youre close to 65 , youll need to sign up . You can contact Social Security 3 months before you turn 65 , the month of your 65 birthday and 3 months after the month you turn 65 . Generally you wont pay a premium for Part A ; Part B will be deducted out of your Social Security Benefits and is based on your income . If you are still covered by your employers insurance you can decline your Part B coverage and save yourself that cost and apply later when your employer coverage ends . Once you have Medicare there are 2 main ways to get your Medicare coverage , there is Original Medicare or Medicare Advantage Plans . To keep thing simple if you chose Original Medicare you must buy a Part D Prescription Drug Coverage and you may also want to purchase Medicare Supplement Insurance -LRB- Medigap -RRB- policy . One thing to remember is that all Medigap policys with the same letter are identical in coverage the only difference is the price they charge you so shop around with a broker that represents multiple companies . If you chose Medicare Advantage its very similar to employer insurance where you have to see doctors that accept the insurance and there are small co-pays . Most Advantage plans include Medicare prescription drug coverage -LRB- Part D -RRB- and have low and sometimes no monthly premiums . |
How Can I Switch My Auto Insurance To Progressive? | You would have to contact an agent that is appointed with the carrier that you are seeking to sign up with . Auto insurance is an at will product . This means that you are able to change carriers for your coverage at any point that you wish , any premium that was paid and not used should be refunded by the carrier . | The `` bottom line '' cost of shingles would vary depending on the severity of your condition , your insurance benefits , and where you seek treatment . Most forms of shingles , which have been known to reoccur for years in some cases , are treated with medications . As long as you are insured , the cost for your treatment would be equal to the cost of your doctor visits combined with the copayment for your medications . If you are uninsured , you can find a doctor to see you for less than $ 60 in most cases , or consider trying telemedicine , where a visit can cost $ 30 or less . Once your medication has been prescribed , try www.GoodRx.com to find the lowest priced available in your local area for the medication you need . For a minor case of shingles , you can often be treated for less than $ 100 total . Major cases , that reoccur for years , can cost many times that amount . |
What Is Average Cost Of Long Term Care Insurance? | There really is no average cost of any type of insurance since there are many rating factors such as age , health , zip code , amount of coverage , etc. . With Long Term Care , many policies give a 40 % discount if both spouses are covered . I 've seen policies range from $ 80/mo to $ 400/mo . So I have 2 things that I might advise ... 1 -RRB- . Speak to a licensed agent to get a quote 2 -RRB- . Buy as much Long Term Care as is affordable . This is definitely a case of `` some is better than none . '' | When and if you put in a claim for home owners insurance . What ever the pay out on the claim it will be minus your deductible therefore make sure you have the deductible saved up for that rainy day if and when needed . If you not sure contact your agent and ask the general question to be more clear on what your inquiry is about . |
What Is Medicare Part T? | There is no part of Medicare titled Part T. Medicare consists of 4 main parts - A , B , C , and D . There are also 10 Medigap plans -LRB- a.k.a. Medicare supplement plans -RRB- - A , B , C , D , F , G , K , L , M , and N. Are you perhaps referring to your Medicare claim number ? Your claim number is your social security number plus a letter . The letter T is one of the common ending characters to a claim number . If you have a claim number ending in `` T '' , it designates that you are either uninsured , but entitled to Part A or are fully insured and have elected to only take Part A. I hope that answers your question . Please let me know if I can be of further assistance . Thanks very much . | `` Begin your search with the end in mind '' . Identify what you are looking for a life insurance policy to do . Then you can narrow your search and focus on those companies that offer what you want . The internet is great at assisting us all in our searches . A knowledgable Insurance Agent is your best bet for discovering which policy best fits your needs . Look for an agent who is not more interested in selling you a product than they are in making sure you end up with exactly what you were looking for . |
Does Health Insurance Test For Smoking? | At this time -LRB- May 2014 -RRB- insurance carriers are operating on the honor system for people to report whether they are tobacco users or not . So , unlike the case when you may be applying for certain levels of life insurance , you are not required to take a physical exam where blood or saliva may be taken to test for nicotine . Technically , the Affordable Care Act does allow for a premium adjustment for tobacco usage . In practical terms many health insurance carriers recognize that enforcement of this provision is impractical and so whether a health insurance carrier chooses to apply the allowable rate adjustment for tobacco use varies from insurance carrier to insurance carrier . Some are factoring in an assumed amount of tobacco usage in their base rates and applying a uniform rate to tobacco users and non-users alike . Other carriers are adjusting their rates to account for tobacco use though they may not choose to apply the maximum load allowed under the law . This is an issue you should discuss with your insurance agent when shopping for coverage as it may guide you in your selection of an insurance carrier . Just to be clear , if there is a tobacco use question on your application and you provide a misleading answer this is technically fraudulent and could have repercussions if it is uncovered . | -- > Normal 0 Basic homeowners policies provide coverage in three general areas . They agree to indemnify you for the cost to repair or replace your home or your personal property should it be damaged or destroyed . They agree to indemnify you for your increased expenses should your home be damaged or destroyed and you are required to live somewhere else while your home is being repaired . They agree to provide you a legal defense and pay some or all of certain civil judgments should something you do or fail to do injure or damage someone . Obviously each area has its own limitations which are outlined in 40-50 pages of words some of which are subject to legal interpretations but for the most part this is the type of coverage you will find in most homeowners ' policies . |
How Is Medigap Different From Medicare? | Medigap policies are the `` original '' standardized Medicare plans that are offered by insurance companies . They are different plans labeled as A through N that have different co-insurance and/or deductibles depending on which plan you choose . They are different from the Medicare Advantage plans . Medicare Part A and B combined pays 80 percent of doctor and hospital bills therefore there is a 20 percent gap which is why the Medicare policies are called Medigap policies . They are Medicare policies and do not differ from Medicare . | Life insurance has a two year review period . During that time any company has the right to cancel a policy and issue a refund , if the insured lied in any material manner on the application , or commits suicide . After two years , the company is bound and unless the policy specifically excludes death by drugs , which almost never is the case , the company is obligated to pay , even for a suicide . If you have a drug problem , however , is n't it wise to try to deal with it quickly and protect your health and your family ? Gary Lane , Registered Representative and Agent , New York Life , 949 797 2424 . Thank you . |
How Does 21st Century Auto Insurance Rate? | 21st Century auto insurance is very popular in many states . Although their rates are typically , not the lowest in that particular area , they are a reputable company . Some of the major car insurance companies other than 21st Century are Progressive , Geico , State Farm , Allstate Esurance , Nationwide , Liberty Mutual and Travelers . An experienced broker or a reputable national website can offer you multiple free quotes from top-rated companies and allow you to apply online , in most situations . | There are hundreds of life insurance companies in the United States -LRB- down from thousands of companies in the late 80 's -RRB- . They are ranked by agency ratings , revenue , number of employees , customer satisfaction , and other ways . As brokers , we all have some that we like better than others . But that is our opinion , and our choices may not be based on your criteria . You can look at ratings from AM Best , S&P , and other agencies to see which are rated highest . Then read about other details that may mean a lot to you . When it comes down to applying , you will want to go with one that has the best price for you , while still being a good company . |
Who Should Get Disability Insurance? | The ideal person that needs disability insurance is the person that 's most valuable asset is their ability to earn a living . If someone needs a steady paycheck in order to pay their normal living expenses , this is a prime candidate for disability insurance . You are 8 times more likely to become disabled from an injury or illness than to die . | Great question . Insurance lingo can be very confusing , especially when shopping and trying to compare prices . Here are a few words that can cause some confusion , and how us agents usually mean them . 1 . QUOTE = the price we think you will get based on what you told us . If you are looking for a medically underwritten policy and were not asked many health details , chances are that quote is not very accurate . You can also tell if someone is following a script . There are so many nuances in each person 's situation , that if you find an agent who quotes you more by experience and knowledge than `` if a , then b '' , my opinion is that you will get a more accurate quote and end up with a better rate . 2 . RATE = the price you actually end up paying . Another word is PREMIUM . This is your cost after all the underwriting has been done and your final rate has been determined by the insurance company . 3 . RATING = this refers to the health rating . Examples are Preferred , Standard , Table C . It is what you are rated after the underwriter reviews all your health information . I hope that helps . Feel free to contact me or post any more questions you might have . |
Who Should Get Disability Insurance? | Anyone who would not be able to get along without the income from their job for over 3 months should have Long Term Disability Insurance . That is the type of policy that will protect you and your dependents from being devastated by a new , long term or permanent disability , and the resulting loss of income . | Seriously ? If you are Warren Buffet or Bill Gates or some other super rich person then you probably have no realistic reason to save for retirement . If , however , you are like the 99 % of other people in the world then unless your plan is to commit suicide after your last day at work you need to be thinking about how you are going to afford to live for the years and perhaps decades after you stop working . Social Security retirement benefits are highly unlikely to come close to replacing your income during your working years and Social Security was never intended to be a person 's sole source of retirement income . In addition , the financial viability of Social Security itself is being seriously questioned so it may not be there in the amount you would have expected and in the worst case scenario may not be there for you at all . For this reason a person needs to be saving money and investing it over the course of their working life in order to build up a financial nest egg for their retirement years . When you retire from your job your working income will cease , your expenses will not . |
How Much Does A Life Insurance Agent Make A Year? | Life insurance agents can make a very good income . Over a period of years but keep in mind this agent would spend a lot of time in study and different schools to be able to do his job efficiently . He or she will keep this train of thought thru out his career so with that said a good hearted agent will make a very good income . | In Ohio , upon receipt of a written proof of loss , the insurer must pay death claims immediately -LRB- most states interpret this to be within 30 days . -RRB- Check your state law to verify . If there is no beneficiary named in the policy , the death proceeds are paid to the estate of the insured . An insurer can not delay the payment of a death claim until the settlement of the estate of the insured has been completed . |
How Much Is The Average Cost Of Life Insurance? | That is a great question ! Unfortunately , there is no `` average cost '' that I can honestly give you . Life insurance is like a tailored suit . Each person is built differently , so my suit most likely wo n't fit the average person , any more than yours probably would . Since life insurance costs are based upon your personal health situation , age and gender , the rate is tailored to you . There are companies that issue policies that charge a flat rate by age , but they also tend to increase those costs every few years , and end your coverage the day you turn 80 . Please speak with an agent who can give you some specific numbers for you to look at . Thank you for asking ! | Medicare Advantage plans can be a an HMO or PPO . However , Medicare Advantage/HMO/PPO mean almost the same thing once you are on Medicare , meaning they are all a Medicare Advantage plan . One of the common statements from people turning 65 is , `` I want a PPO '' , because that is what they knew before they went on Medicare . However , it means something way different now that they are on Medicare . A Medicare Supplement is the only plan that does n't have a network and that gives you the greatest flexibility in deciding who you go see for care . |
How Much Is The Average Cost Of Life Insurance? | There 's many factors that go into the premium calculations for life insurance to say what an average life insurance policy costs - it will be different for every person due to a number of factors including their age , gender , amount of coverage they want , how long they want the coverage for -LRB- guaranteed to age 90 , 95 , 100 , 121 , etc. -RRB- , and their riskclassification -LRB- determined by the medical history -RRB- . The risk classification is the MOST critical factor in determining the cost -LRB- premium -RRB- of a life insurance policy . The risk class depends ona number of factors including whether you 're male or female , your medical history , height/weight profile , any tobacco usage , and other factors . Please keep in mind - every carrier has their own set of underwriting guidelines and mortality tables , and each may offer a different risk class for a given medical profile - e.g. company A may offer preferred -LRB- featuring lower rates -RRB- and company B may only offer standard -LRB- featuring higher rates -RRB- . I would suggest consulting with an experienced life insurance broker who can work with you on a personal level and help determine what coverage is appropriate/suitable for your needs and budget and which carrier will work best for your program . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much . | Purchasing long term care insurance at a young age and when youre healthy may be a consideration , if your family has a predisposition to chronic illness or a history of nursing home confinement . Many financial advisers begin addressing long term care insurance with their clients around age 50 , but many Americans purchasing behaviors begin in their early 60s . |
How Much Is The Average Cost Of Life Insurance? | The average rating people get for life insurance is Standard . From that , you can determine the average cost for persons of different ages . Keep in mind that the average cost for an 80 year old is going to be much different than the average cost for a 20 year old . As will the average cost for someone with diabetes as compared with someone with perfect health . The length of the term , or whether the policy is a permanent policy , have a great effect on the premium , as well . It is a good idea to go into a life insurance sale with your top dollar that you can spend , in mind . Then see if you can get a policy that suits your needs for a premium a little lower than that . Something is better than nothing , and by consulting with an honest and knowledgeable agent , most people can find coverage at a price they can afford . | Why is Whole Life insurance good ? Ah - where to begin ? There are so many good things about Whole Life ! I like the points Larry made above here , and the points that DM Rozek made . So rather than restate those points I 'll start by saying that your best Whole Life policies are with the strongest , oldest , Mutual insurance companies that pay dividends to the policy holders . There is no cash value at all with Term insurance so that 's a definite advantage of Whole Life . Beyond the other points mentioned above by the other contributors , what I like to help my clients understand is the `` infinite banking '' uses , or the `` interest arbitrage '' strategies that Whole Life insurance makes possible . The cash value of Whole Life is a liquid asset that can be used without incurring a taxable event by means of a policy loan . The interest on policy loans is almost always lower than the interest and dividends paid into policy cash value . And when you have a policy with a mutual company that offers non-direct recognition loans your cash value continues to accumulate compounded as though the loan was never taken . And when borrowing from your cash value yo are n't locked into a repayment schedule as you are with a bank . |
What's Covered In Homeowners Insurance? | Let me add a few comments here on how the coverages are usually presented on a Declaration page of a Homeowners policy . First there is the party being insured and who the company is that is providing the insurance . Then there is a specific term for the coverage to begin and end . Then there are many ways to then itemize the coverage , but here are some basics . The policy is usually divided into two Sections . Section I deals with property insurance and Section II Liability Insurance , so within the section I coverages there are usually four parts Coverages A , B , C , D. Coverage A is the Dwelling Coverage . This can be sold on an Actual cash value basis -LRB- very infrequently , but watch out for it -RRB- usually on a 100 % of the dollar value of the estimated cost to replace the house itself . This is often difficult for consumers to understand , but no one really cares about the market value . What is important is the replacement cost and replacing one house destroyed is usually a lot more expensive then building one new in a subdivision . Make sure you have enough coverage . This is not an exact science so many companies offer extensions to increase the coverage beyond the stated value . Next is Coverage B : These are the other structures appurtenant , outbuildings , fences , Gazebos unattached garages etc. . Coverage C is usually Personal Property or Contents Coverage . This is very important to understand : You want replacement cost coverage not Actual Cash Value , ACV . The easiest way to think of this is the ten your old large and 200 lb TV . The ACV is going to be next to nothing . There is no continuing interest in buying that type TV anywhere . But replacing it with a new TV with light weight plasma features is what you want . Coverage D is Additional Living Expense . This can be stated two different ways or a mixture of the two . Some companies list a maximum dollar limit available . Others list a maximum time limit and still others list a maximum time limit and dollar limit . This covers the additional cost of living elsewhere while your home is reconstructed . It can also come into play if a Governmental authority wo n't let you near your home for safety reasons -LRB- i.e. forced evacuation form an impending hurricane -RRB- . This coverage does not pick up the cost of things you would normally pay out of pocket , but the additional things and costs necessary to keep your household going while your home is repaired . The next set of coverages comprise Section II or liability coverage . Coverage E is very broad and covers such things as an injury to a child by your dog , or an inadvertent collapse of you deck with guests on it etc. . Coverage E then is is sold in increments of 100,000 usually . The difference in price from say 300,000 to 500,000 is usually only a few dollars a year . If you have an umbrella policy , you may be required to carry a minimum of 500,000 in coverage . Coverage F is Medical payments coverage . This is usually quite nominal and is used to cover minor incidents where fault may not be much of an issue , but you feel obliged to pay for the medical bill . For example a neighbor picks up your mail for you while you are gone and trips on your garden hose . The injuries are not serious , but do require a couple stitches . The limit is low because the much more serious incidents would require negligence or absolute liability and would fall under Coverage E. I hope this helps . If you are in AZ.CA , TX , MO , or GA we 'll be glad to assist you with placing your homeowners coverage . | I agree with Jeff , Mark and Jerry 's answers , but I would like to add a bit more . Life insurance also will not pay a benefit if the death occurred in a commission of a crime and in some cases any act of war , such as militaryservice This is why the military provides its own coverage for our servicemen and women . I have seen some policies that also wo n't pay if the death was the result of an insurrection or riot . Basically , if you tell the truth on the application , you are not a current member of the armed forces serving in a war zone , and you are not a criminal , you should be okay ! |
What's Covered In Homeowners Insurance? | -- > Normal 0 Basic homeowners policies provide coverage in three general areas . They agree to indemnify you for the cost to repair or replace your home or your personal property should it be damaged or destroyed . They agree to indemnify you for your increased expenses should your home be damaged or destroyed and you are required to live somewhere else while your home is being repaired . They agree to provide you a legal defense and pay some or all of certain civil judgments should something you do or fail to do injure or damage someone . Obviously each area has its own limitations which are outlined in 40-50 pages of words some of which are subject to legal interpretations but for the most part this is the type of coverage you will find in most homeowners ' policies . | If you are age 65 and have begun receiving Social Security benefits , you will automatically be signed up for Medicare Part A and B . You can sign up for an Advantage Plan or get Medicare Part D -LRB- or other letters -RRB- at that time , as well . You sign up for Medicare by visiting your local Social Security office , going to Medicare.gov -LRB- where you will be directed to a website where you can sign up -RRB- , or calling 1-800-MEDICARE . |
What Is The Role Of Health Insurance Exchange? | The role of the Health Insurance Exchange -LRB- Marketplace -RRB- is to provide individuals , families and small businesses with affordable quality healthcare coverage from top-rated companies . A federal subsidy will help lower premiums for many consumers . Experienced brokers are your best resource for finding the best rates , calculating subsidies and recommending the most suitable plan . LIVE answer provided by : Ed Harris - Premier national health insurance broker since 1980 and owner of several top-ranked healthcare websites . | It varies depending on the company and type of coverage . With most policies you ca n't file the claim until you have a certified death certificate . That can take from 2-days to 45-days to get . Then most life insurance companies will pay the claim within 30-days of receiving the death certificate and claim form . Some companies that specialize in funeral insurance coverage pay the claim within 48-hours with no death certificate needed . If you die within 2-years of taking out the policy , it will be contestible and that will slow down the claim process . |
What Auto Insurance Coverage Is Recommended? | The value of auto insurance is discovered when you have a claim . The premium is not an appropriate measure of value , particularly if you are facing a claim that exceeds the limits of your policy . I inform my customers of the maximum amount of coverage the company is willing to assume . We discuss the possibility of a very large claim . I recommend that each take as much coverage as they can possibly afford . I never discourage anyone from taking on maximum physical damage coverages either . No one is happy when either there isnt any money to fix their car or the deductible is so high that the insurance company hardly contributes . | Mortgage Life to protect your love ones from the burden of a mortgage can be accomplished in a couple of ways . You can purchase a policy from your bank or mortgage company that will pay off your obligation to them in the event of your death . The amount of the policy will be paid to the bank and your family and loved ones will not have that mortgage as a burden . The other option is to purchase a Term Life Policy through an independent agent that compares the best companies for this type of protection . The main benefits of a Term Life Policy is that the death benefit will not decrease during the life or term of the policy . The other benefit is that the death benefit is paid to your beneficiary and they decide where the money is distributed . Your family and/or loved on can pay off the house and use additional funds for final expenses or other considerations . You should compare both options . The term life policy is more flexible but both should be considered . Mortgage disability insurance can be purchased as separate policy through your bank or some insurance companies . Disability income is paid at a maximum per month depending on your state . They will compare what you receive from other sources , such as your employer or personal policy , and determine the maximum amount of payment that your can receive . You can add disability income additions or riders to your term life policy for the amount of your monthly mortgage payment and get the convenience of one payment . The cost of these policies and riders are dependent on the amount of monthly payment needed , the length of time the payments continue , your occupation , and the amount of time between when the disability starts and when the payments start . Check with your agent to determine how the program works for you . |
What Auto Insurance Coverage Is Recommended? | That is a great question ! A lot of the answer will depend upon your State required minimum coverage , and your budget . In Texas , the minimum amount of insurance that you can have is 30/60/25 , or $ 30,000 per person , per accident ; $ 60,000 maximum paid per accident ; and $ 25,000 for property damage . This is the bare minimum , and $ 25,000 does n't pay for much , if one or both cars are totaled . We recommend 100/300/100 as suitable coverage . That amount is typically more than enough , but ultimately it will be your budget that sets the amount of coverage for you . Contact a local agent , and find out what will work for you , okay ? Thanks for asking ! | It may . Typically it would be by providing a discount for both policies if they are with the same carrier . Other than that I personally can not think of any other way that your car insurance would affect your motorcycle insurance . If your policies are not with the same carrier now , I would suggest talking with your local agent to find out if you could possibly get both of your policies under the same carrier . |
Does Renters Insurance Cover Pest Infestation? | Renters insurance much like homeowners insurance will typically exclude coverage for pests -LRB- vermin -RRB- . 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 . | Minimum limits are 30/60/25 . In my opinion , those limits are never enough . We suggest 50/100/100 as your liability limit to avoid any possibility of lawsuit . the price difference is not very much and it always easier to come up $ 10-15 rather than get sued and have to come up with $ 10,000 to 30,000 . We have had several customers who are being sued because we did not want to push the higher limits . Its not always about how much money the agent is going to get in commission . We want to avoid you any hassles . |
What Percentage Of Renters Have Renters Insurance? | I do n't know of any studies out there that have provided the information that you are asking for . In my limited experience , I wouldmake a guess that the number is somewhere around 30 % or less . This is really concerning as renters insurance is typically very low cost . What happens if there is a fire in your building in another apartment and this in turn causes damage to your apartment making it unlivable ? Ifyou had renters insurance you would typically have funds available to find another place to reside and funds to replace any personal items that may have been damaged . Remember every carrier and every policy is different . Read your policy completely to understand the coverage offered and the exclusions that it may have . | If you were denied , health insurance the question we must ask is why were you denied coverage ? Depending on the reason and/or reasons why you were denied coverage , the next steps that you would take would be to look to obtain coverage through a different carrier or seek out a guaranteed issuance plan . |
Does Home Insurance Cover Lightning Strikes? | Generally speaking , yes , a standard `` all risk '' Homeowners policy would cover damage resulting from a lightening strike . Certainly damage to your house itself , but also that caused by the sudden electrical surge through either power or cable lines that might damage or destroy appliances or other components would all be covered under your homeowners ' policy . IN addition , if the electrical storm knocks your poer out and you arein teh dark for several days , in many cases your homeowners ' policy would also pay to replace lost food items out of your regrigeratorand freezer . | This depends on the stipulations of the mortgage disability insurance . The cost for this benefits is often quite high for the benefit afforded when purchased through a lender . However if are uninsurable than this may be the only way that you can get coverage to ensure that your mortgage is paid if you are too sick or hurt to work and earn money to pay your mortgage . |
Do I Need A Will If I Have Life Insurance? | Life insurance pays directly to the beneficiary or beneficiaries upon the death of the insured . Property -LRB- such as a car or a record collection -RRB- , assets -LRB- such asstock or a bank account -RRB- , dependent children -LRB- whose custody would need to be settled -RRB- are all matters you would take care of with a will . Life insurance will pay according to the policy regardless of any mention in a will . | The first step is to getting life insurance with cancer , is to contact a good impaired risk life insurance agency/agent that carries a range of products . Cancer life insurance policies change as the years from diagnosis increase . People who are first diagnosed/treated will need to start with guaranteed issue insurance , but then after a year or two of being cancer/treatment free , they can likely qualify for a simplified issue policy at a slightly lower rate . Some types and stages of cancer can be medically underwritten shortly after treatment ; some will never be able to qualify for a medically underwritten policy . Using a knowledgeable agent who carries an assortment of policies will save you time . It will also help preserve your sense of dignity and well being . |
Do I Need A Will If I Have Life Insurance? | Life insurance is an indemnification insurance product that pays death benefit proceeds to the policy beneficiaries at the death of the policy insured . A will is a legal document directing the post mortem wishes of the decedent is regards to the dispersal of assets , child custody and general intent or testament of its author . You need life insurance if you have financial liabilities that could burden your beneficiaries . You need a will to direct your overall wishes in the event of your death . | As an example , under ERISA -LRB- Employees Retirement Income Security Account -RRB- of 1974 , employers can sponsored defined benefit and/or contributions . They usually outsource the money management to a third parties . Some employer sponsors also match some portion of the employee 's annual contribution . They 're also responsible for the compliance under qualified plan regulations . |
What Kind Of Health Insurance Is Best? | The best type of health insurance really depends on your circumstances . For example , generally healthy individuals with additional cash on hand are often best suited by High Deductible Health Insurance Plans as they can cover the high deductible if in the rare chance they should require considerable health care . The deductible acts as a stop loss against their total risk of expense exposure . Individuals with less cash on hand , and or those with medical conditions that require more frequent trips to the doctor are generally better suited by Managed Health Care systems like Heath Maintenance Organizations or Preferred Provider Organizations with low deductibles and/or co-pays . | A life insurance company can be a stock or mutual company . But the real operations of a life insurance company is built upon the practical theory of the law of large numbers and actuarial probability . Generally speaking , the percentage of death claims each year are very small compared to all the policy holders of any one company . That spread between the living and those who died is mortality profitability . |
How Much Is Life Insurance If You Smoke? | If you smoke cigarettes , Life Insurance rates run approximate three times what they would be for a nonsmoker . With very competitive smoker rates , the difference is not quite as much ; with a health condition combined with smoking , the difference in premiums could be much higher . Smoking an occasional cigar does not have much effect on rates at all , however . And even a daily cigar can qualify for nonsmoker rates with a few companies . Unfortunately , there is no break for those who are social cigarette smokers except that can be rated Preferred Smoker if their other health and risk factors are Preferred . | Anyone who has an insurable interest can be a beneficiary . For example , your spouse , child even grandparents . Brothers and sisters . A loan as a collateral assignment if necessary . It could be a business who depends on your activity to support the business or a business owner . Your Estate and Charities can be beneficiaries . Your neighbors can not . People who do not have anything to lose from your death generally can not such as strangers . This is a simple approach to your question . If you have someone specifically you are thinking about , contact your agent/broker . Feel free to reach out to the agents on this forum as well . |
How Much Is Life Insurance If You Smoke? | The short answer : Much more expensive than if you did n't ! Rates for smokers tend to be twice -LRB- or more -RRB- as expensive as rates for non-smokers . Some life insurance companies are better suited to smokers than others , so keep this in mind if you are shopping for a policy . An independent agent who has access to a wide variety of carriers can find you the best rates for your particular situation . | For the most part , yes , but there are differences . Some term plans pay participating dividends to reduce the total cost of your coverage . Others have conversion options which can be helpful if you need coverage beyond the expiring term and are no longer insurable . Waiver of premium provisions should also be considered especially in light of conversion . |
How Does Life Insurance Payout? | Life insurance can be paid out in a lump sum , or it can be paid out in regular payments over a set period of time . If paid out in payments , interest is added to what the beneficiary gets , to compensate for the insurance company being able to hang onto the proceeds of the policy longer . | The coverages provided by a Medigap -LRB- Medicare Supplement -RRB- are standardized and the broadest coverage is on Plan F . If you want any doctor , anywhere , anytime this is the plan for you . Though the plans are standardized , the premiums will vary from carrier to carrier and from state to state . When you 're looking at a carrier , consider also any of the special terms that they offer . For example , my state , Florida , the carrier Florida Blue -LRB- Blue Cross/Blue Shield -RRB- offers to retain you present age on your pricing for renewals . This can have a big impact on your cost over time . This means that if you sign up at 65 with them , they keep charging you at the 65 year old rate as you get older . This can be a significant savings over time ! |
How Does Life Insurance Payout? | Upon the death of the policy insured , the policy owner and/or the policy beneficiary notify the life insurance company . The company sends their death claim form upon request . Once the form is filled out , the certificate of death and newspaper obituary are mailed to the life insurance company and the proceeds are generally received 30 to 60 days later . | There are literally hundreds of insurance companies that sell term life insurance . There are as many types of term policies and premium rates as there are life insurance companies . It can be a very confusing maze to get the right product at the best price for your unique situation . I recommend finding an experienced independent life insurance broker to professionally shop the market for you . Practically all of us offer free services and are compensated by the insurance carrier . |
Whats Bad About Annuities? | What 's bad about annuities ? Well , it all depends on your point of view . Some will see aspects of annuities as favorable or unfavorable . There is n't a consensus . The negatives that come to the top of my head is the surrender tables , that is if you want to exit or cash out the annuity before it has had time to work . Most annuities have long surrender tables which makes them not so liquid . The other negative might be market return . Because annuities are n't really considered risky , their returns tend not to be flashy . Little risk , little reward . | A typical Homeowners ' Policy provides coverage for your dwelling and personal property along with liability protection . Furniture would be covered under the personal property portion of the policy and subject to all the terms and conditions of your policy as well as the policy deductible . It is best to talk to your Insurance Professional about all of the elements of your policy . |
Whats Bad About Annuities? | There are tax deferred and immediate annuities that are not a good value proposition , just as there are quality annuity polices offered by quality companies . Annuities in and of themselves are not bad , there just a product . To determine if annuities are right for you need to establish a financial profile that includes a risk tolerance test , discovers your effective tax bracket and your goals . There are excellent annuities with crediting method using interest rates , indices and separate sub accounts . | Allstatehomeownersinsurance is written on a special form HO3 policy . This means everything is covered what is not specifically excluded from the policy . Most common perils would be earthquake and flood . I recommend to speak with a local Allstate agent if you desire more specifics on how an Allstatehomeowners policy can protect you . |
Does A Claim Affect Home Insurance? | It can , yes . Many companies offer a `` Claim Free '' discount if you have not filed a claim is say , 5 years . If you do suffer a loss and then have to file a claim , it is more than likely that if your company had been providing such a discount , that discount would be removed at your next renewal causing your premium to increase . Other companies may apply a surcharge based upon the type of claim you filed which would also affect your premium . | Yes , you can stay on your parents ' health insurance plan until age 26 . After this point , you will have to secure coverage under a separate plan . You can secure coverage through an individual plan purchased on or off the health insurance exchanges . You may also have the option of group insurance through your employer if they offer it . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
How To Qualify For Both Medicare And Medicaid? | To qualify for Medicare , you must have paid into Medicare taxes , be age 65 -LRB- or if under age 65 , have been receiving Social Security Disability for 2 years -RRB- , or have ESRD or ALS in some circumstances . To qualify for Medicaid , you must have very low income and very low assets . | A homeowners policy pays for damages caused by specified perils . The list of perils is lengthy ; however , damage caused by birds and insects isnt covered under the standard forms . I am assuming that woodpeckers pose a threat to your house . You might check with your agent on how you can deal with this problem . |
When Can You Change Home Insurance? | Home Insurance can be changed at any time . A homeowner can cancel his or her insurance at any time and purchase a policy from another carrier . The unearned portion of paid premium will be returned to the Insured in an expeditious manner . A bank or mortgage company is not permitted to require a homeowner to purchase insurance from any specific insurance company . For homes not insurable under Preferred Home Insurance Programs , there are some Sub-Standard Programs which will accept homes which are not in the best of repair or which are declared a high risk to carriers , in the absence of an insurance market for the home , most States have a Fair Plan which will accept the risk sometimes on a Fire Only basis . There is a link available providing 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 | No , Medicare does not pay for LPC 's , or Licensed Professional Counselors , at this point in time . Legislation has been proposed to include payment for LPC 's under Medicare part B . As of now , only Licensed Clinical Social Workers , PhD Psychologists , and Psychiatrists are able to be reimbursed by Medicare for persons needing counseling . |
How Does Home Insurance Treat Hail Damage That Occurred When A Previous Owner Lived There? | Covered homeowners claims are those occurring during the policy term . The responsible insurer would be that which was in place at the time the damage occurred . If the seller does not want to cooperate and simply report the loss to his insurer at the time , it becomes time to call an attorney . | The basic principal is that the entire premium is paid in advance of the period of insurance . However , companies have been granted permission to accept payments in installments . The fundamental remains the same , however , and that is the premium must be paid in advance . Companies will send out renewal notices to current policyholders with enough of a lead time that if payment isnt received the policy can be cancelled at the end of the policy term . |
How Does Home Insurance Treat Hail Damage That Occurred When A Previous Owner Lived There? | Most states require that disclosure forms be filled out by the seller , indicating any damage that happened to the property while they owned it . If your state requires such a disclosure , you have legal recourse against the seller for fraudlently filling out the disclosure . If the damage happened in the last year , while the previous owner owned the home , you can probably still have them go back to the insurance they had at the time and file a claim . It 's not unheard of . If it 's been over a year your only recourse would likely be small claims court of a lawsuit . If a realtor helped you buy the home , it might be worth discussing this with them as , if you have a disclosure they can probably help make it clear to the seller that they should not have lied on the disclosure . | There may be two questions here , death benefit proceeds and cash values in life insurance policy . Every state jurisdiction is different and you should seek legal counsel before deciding the best course of action . But in general terms , unless your domiciled state says otherwise or has cash value limitations , you personally owned life insurance cash values are protected . Death benefit proceeds received before or after six months of bankruptcy filing could be at risk and characterized as bankruptcy property . |
Does Renters Insurance Cover Fire Damage? | Loss as a result of fire to personal property is covered . If you are the culprit that starts the fire and have legal liability for the fire , the liability section may provide coverage . If someone else is responsible for the fire the renters policy will not pay for the damages to the building itself . | Medicare covers procedures and treatment that are considered medically necessary . Assisted living does not meet the criteria of what is considered medically necessary . If you are in need of skilled nursing care , such as the administration of infusion therapy or other medications , Medicare may cover at least a portion of the cost of nursing care . |
Does Renters Insurance Cover Fire Damage? | If you are fortunate enough to have purchased a Renters ' Insurance policy when you started leasing your home , then yes , in most cases your personal property would be covered for loss by fire . In fact , protection from fire loss is one of the more standard perils that is included in a Renters ' , Condo unit owner 's or Homeowners ' policy . | Is life insurance manditory ? Not in the same sense that health insurance will be next year . You will not be required to carry life insurance or face tax fines if you do n't . What this question brings up is should you carry life insurance ? My answer would be yes if there 's someone who cares enough about you to deal with your things when you 're gone . Do n't compound your loss to them . |
Does Renters Insurance Cover Fire Damage? | Great question ! If you are living in an apartment that is damaged by fire , and have renters insurance , you are covered in almost all cases . Water damage if the fire was next door , or smoke damage are usually also covered . Some cases , you may even be covered for the cost of staying somewhere while the damage is assessed . If you need any more help , please feel free to contact me , I 'm happy to help . Thanks for asking ! | That is a great question ! There are a million people that will line up to help you put together a plan . Some will honestly want to help you , and some will look at you like a wolf looks at a fat , three-legged sheep . Please be careful , and go with someone that comes with high recommendations . Here 's what you can do to get started . Take a few minutes , and decide what retirement looks like to you . Are you fishing , travelling , working , not working , debt free ? Now take a look at your current financial status . What do you need to do between here , and retirement to make that happen ? I tell people that if you want to live at your current standard of living in retirement , then you will want to have squirreled away between 8-10 times what your current salary is . If you want to live better than you are now , then you 've really got to get started . Once you 've got an idea of what you need to save , then you can talk to your HR person at work about company match 401k , or other programs they might offer ; You can talk to your insurance agent or banker and get some ideas , or you can find an advisor that can help you take a look at how to make your vision of retirement a comfortable reality . I hope that gives you an idea , feel free to drop me a line if you need help , ok ? Thanks for asking ! |
Why Is Health Insurance Cost Rising? | There are numerous factors involved in the rising cost of health insurance and one could write a book about them . Some of the most important factors are ; 1 -RRB- Health care costs continue to rise . Whether it is hospital services , physician care , prescription drugs or virtually any health care service you can name , their costs continue to rise from one year to the next . Health insurance rates are merely a reflection of the underlying costs of the health care services their policies cover . 2 -RRB- Obamacare Taxes and Fees - buried in your health insurance premiums are taxes and fees that were created by the `` Affordable Care Act '' . Some are direct such as a reinsurance fee that was over $ 5 per covered person per month in 2014 and is to be used to offset losses that insurance companies may incur from enrolling too many unhealthy members now that ObamaCare has prohibited underwriting for risk and pre-existing conditions exclusions , to the medical device tax that adds to the cost of a wide variety of medical devices such as artificial hip joints . These increased costs are , of course , passed on to the consumer . 3 -RRB- Changes to how health insurance policies can be rated and issued - ObamaCare requires that health insurance policies be `` guaranteed issue '' -LRB- a person ca n't be declined for coverage -RRB- and that no pre-existing condition exclusions , limitations or waiting periods are allowed . This literally means that a person can be terminally ill or about to give birth and if they enroll during the annual open enrollment period or a special election period they are guaranteed to get coverage . Obviously , taking on a claim that can range from thousands of dollars to a million or more when the insurance company in turn may receive only a tiny fraction of that amount in premium payments from the sick or injured person creates a shortfall that has to be made up through higher premiums for other insured persons . 4 -RRB- Increasing consumption of health care services . As the American population ages -LRB- with the Baby Boom generation moving into its retirement years -RRB- they naturally consume more health care services of all types . With the barriers to access to health insurance being removed and Medicaid eligibility expansion this also increases the consumption of health care services . A basic law of economics is that increased demand for something with a limited supply -LRB- there are only so many doctors , hospitals , etc. -RRB- will lead to higher prices . While this is not a comprehensive list of the factors driving health insurance costs higher , these are some of the key ingredients . | Table B on your life insurance means that you had some type of risk factor that caused you to be charged a little more than Standard rates . You could have been rated table B due to weight , or a health condition , or some other type of risk factor . With most companies , one table rating adds 25 % of the Standard rate onto the Standard price . So a table B would cause your rate to be about 50 % higher than Standard -LRB- table B is the same as table 2 -RRB- . The table rating for some companies adds more than 25 % , for some companies it adds less than 25 % , and some add it onto a rate other than Standard . While no one likes to pay a higher rate , table ratings are really a very good thing because they allow you to get a policy even though you can not qualify for the Standard rating . |
What Is Life Insurance Death Benefit? | Life insurance death benefit is generally a tax free lump sum proceed distributed to the beneficiaries of a life insurance policy on the death of the policy insured . Life insurance death benefit indemnifies family members , business associates or charitable organizations at the demise of the insured of the policy . | Medicare will cover some aspects of Alzheimer 's care . It depends on many situations . Diagnosis and doctor treatment should be a covered expense under Medicare . Prescription drugs designed to treat Alzheimer 's may be covered under your Medicare Part D . In patient care in a hospital or SNF may also be a covered expense as well as rehab and hospice . Your doctor is in a position to advise you on these items . |
What Is Life Insurance Death Benefit? | The life insurance death benefit is the amount that is left to the beneficiary of the life insurance policy upon the death of the insured person . It is also called the face amount of the policy . The death benefit is at least the amount applied for unless loans were taken and not repaid . | Many financial companies offer Roth IRA plans . The difference between various Roth IRA plans is the investment vehicle being used . Some plans will offer variable products where the return on the investment will depend upon the performance of a group of securities while others offer the absolute security of guaranteed interest . |
Why Would I Need Life Insurance? | Why would you need life insurance . Maybe you do n't . Perhaps , in the event of your death -LRB- not premature or unexpected of course -RRB- , your spouse and dependents will be financially self-sufficient , you will not have any estate taxes and there will be no additional financial concerns -LRB- such as loss or reduction of pension payments -RRB- . However , if you do n't meet that criteria , maybe a quick meeting with a broker will help you realize how cheap life insurance has become ! | One of the best reasons why people buy life insurance is because there the proceeds are not subject to income taxes . There are situations where the benefits can be subject to estate taxes or a certain setup can result in gift tax consequences . The most well-known situation is what 's commonly referred to as the `` Goodman Triangle '' -LRB- named after a court case -RRB- . This is when the policyowner , the insured , and the beneficiary are three different parties -LRB- e.g. a husband is the policyowner , the wife is the insured , and the kids are the beneficiaries -RRB- . When structuring the policy , you want to have two of the three parts being the same person/entity -LRB- e.g. policyowner and insured are the same person and beneficiary is different or policyowner and beneficiary and the same person and insured is different -RRB- . If a policy is owned by a trust such as an Irrevocable Life Insurance Trust -LRB- ILIT -RRB- , the insured and beneficiary will be the trust and the insured will be the person who 's life the trust was created for . I hope the information is helpful - please feel free to contact me for help and if you have any questions . Thanks very much . |
Homeowners Insurance On New Build Not Recognized By Post Office. How Do I Get A Quote? | This can happen , for example , any time a new development is being built but the street has not been processed and accepted by the Postal Service . Here in Connecticut , I have not found this to be a huge problem . The property on which your new home sits in fact has some designated identifying lot number assigned to it and recorded in your Town or City offices . If mail is the problem , you can always set up a Post Office Box so that you will receive your insurance documents in good order . I had personal experience with this many years back and it really did not take long for the wheels of the USPS to move their process along . | That is a question only you can answer . Consider this . Medicare has two parts . Part A -LRB- hospital -RRB- and Part B -LRB- outpatient -RRB- . Medicare only pays about 80 % of the cost of your care , you pay the other 20 % . Your financial responsibility is unlimited . If you are comfortable with paying large deductibles for hospital admission and 20 % of outpatient charges you may not need a Medigap plan . The per admission Medicare Part A deductible is $ 1184 . The Part B annual deductible is $ 147 followed by 80 % coinsurance . -LRB- Medicare pays 80 % , you pay the balance -RRB- . |
How Much Will Medicare Pay For Home Health Care? | Medicare does not cover respite care or home health care . If you have a need for medical services by a nurse , therapist , physician assistant or a doctor , Medicare may pay for these professional services on as needed basis . Check with your doctor to learn which professional services should be covered by Medicare . | That depends on who you ask and your personal situation . Term life insurance can provide you with larger amounts of coverage at a lower cost but is only active for a set period of time . Whole life on the other hand will technically be considered paid up at age 100 or 121 typically and will normally build some cash value over time . There are many more reasons for each type . Please contact a local agent to discuss your specific needs and wants out of a policy so that they can provide you with the best options that they have available . |
How To Buy Disability Insurance? | To buy Disability Insurance , start by going to a reputable agent who can guide you through the process . You can save a lot of money , and get the features that will most benefit you , by having an experienced guide to lead your through the Disability Insurance maze . You can find agents online by using search engines , or in the Yellow Pages . If you also want Life or Health Insurance , you can find often Disability Insurance in the same place . The process entails filling out an application , taking a free life insurance exam in your home , and then you usually just sit back and wait to be approved . | You should have a life insurance policy if there is someone in your life who would be hurt financially by your death , or if you want to make things easier for those who are left behind . You can also use life insurance to give to charity , pass an estate on to your descendants , or create a way for a business partner or family member to carry on your business . There are so many reasons to have life insurance . Some are personal , some are practical . It might help to envision you as being the recipient of someone else 's life insurance benefit , in order to visualize how having a policy on yourself might be of benefit to others . |
How To Buy Disability Insurance? | Disability insurance is part of defensive planning . You need to establish your elimination or waiting period and the length of coverage . Most working Americans have around 90 days of cash reserves , so 90 days would be a consideration for a waiting period . If you can afford long term care to age 65 , you should secure the coverage . But if it 's unaffordable , at least consider short term disability.The are several online brokerage companies that specialize in disability insurance and offer the most competitive carriers in the market . | There are many scenarios when the use of an irrevocable life insurance trust can be helpful . As the name says , it 's an irrevocable trust . Once the grantor contributes an item to the trust -LRB- e.g. life insurance death benefits -RRB- , they can not make any changes to the terms of the trust or take anything back out of it . It 's commonly used for estate planning purposes . When an ILIT is the owner and beneficiary of a life insurance policy , the death benefits wo n't be included in the calculation of the gross estate of the insured - when life insurance is paid to an individual , they are included in the insured 's taxable estate . Another common scenario is to control how proceeds are distributed to minors , or in some cases a financially irresponsible adult . For example , you have an individual who is not yet a legal adult and stands to inherit a substantial amount of money from the death of the insured -LRB- e.g. parent -RRB- . An ILIT can be set up to have a percentage paid out at age 21 , then another percentage at age 25 , and the rest at age 30 -LRB- or whatever alternate payout structure is desired when the ILIT is set up -RRB- . |
How Much Does The Average Person Pay For A Life Insurance Policy? | The cost of Life insurance is dependent upon your health , vocation , smoking status and coverage period of your Survivor 's need for cash upon your death . Term plans are very inexpensive because very few insureds die during the coverage period . Permanent plans are more expensive because 100 % of the Surviving beneficiaries will receive its death benefit . Company Actuaries determine the rates for coverages using statistical information matching risk of death of an insured during the coverage period of the plan . | A whole life insurance policy is good for your whole life . You can pay for it in a lump sum , or pay premiums for the rest of your life , or somewhere in between -LRB- e.g. pay premiums to age 65 -RRB- . As long as sufficient premiums are paid and you have not borrowed money without paying it back with interest , your policy will stay in effect for your whole life . |
How Much Does The Average Person Pay For A Life Insurance Policy? | How much does the average person pay for life insurance ? Based on my 32 years in the business as a broker -LRB- and there is no right or best answer -RRB- , I would estimate between $ 15 and $ 150 per month . This is , of course , `` per person . '' Term policies are much cheaper than permanent policies and of course that would impact the amount each person pays . And ... each person has different amounts of coverage they carry . You can purchase term coverage for under $ 100 per year depending on age and face amount . But because of economies of scale , that may not be such a good idea . You may be able to double the coverage for slightly more . Quite simply , there will be tremendous variations in the amount that consumers pay for their coverage . A fully-licensed -LRB- full-time -RRB- broker will help you find the lowest prices . | If you have a traditional IRA , anyone can convert to a Roth IRA . He is the rub however , because the traditional IRA is tax-deferred and the ROTH IRA is pre-taxed , you will have to pay taxes on the amount you with to convert to the Roth . There may be strategies available which can help you to pay for that tax , through bonus which may be received on certain Fixed Indexed Annuities . If you are considering Converting a traditional IRA into a Roth , I recommend you call your adviser or reach out to me . |
How Much Does The Average Person Pay For A Life Insurance Policy? | Life insurance premiums are priced by gender , health condition , smoking status , amount of death benefit and the length in time of coverage . Male and female that are 25 years old and in super preferred health can pay $ 75 - $ 85 a year for ten year term life insurance for $ 100,000 worth of coverage . | The first step is to define the purpose of the insurance . What are you protecting ? if it is income , how much would your family need to replace your lost income , provide for education , retirement and other major expenditures ? Some needs may be finite and others may be lifelong . Term life insurance is ideal to meet temporary needs while permanent -LRB- cash value -RRB- life insurance is best for lifetime needs . It is not unusual to have a combination of products to meet a combination of needs . |
What Does Medicare Cover For Home Health Services? | Medicare does cover Home Health Care , BUT only if : its ordered by a Medicare approved physician AND the person in incapable of leaving the home AND services are rendered by a Medicare approved provider AND the person requires more than just assistance with activities of daily living -LRB- eating , bathing , dressing , toileting , functional mobility -RRB- . Medicare will not pay for services performed by immediate relatives or members of a patients household . Medicare does not pay for Assisted Living or Adult Day Care . If these conditions are met , Medicare will generally cover medical services in the home as ordered by a Medicare approved physician . | Life Insurance is always about the number of people of a given age that will die in a 12 month period of time . Every life insurance policy manipulates the same data . Where things change is over the word guarantee . The criticism of whole life insurance is that it guarantees conservative growth for the underlying reserve which guarantees a level death benefit in exchange for a level premium . There are several techniques that the companies have used to address this issue for people who want less guarantees and more opportunity to rise -LRB- and fall -RRB- with the market . These policies rise and fall in popularity based upon market performance . In the end a policyholder is faced with determining who they are going to entrust with their financial future . Market timing then becomes the greater risk as a person must assume the risk that the securities might not have the anticipated value at some specific point in the futurethe day that they need it . |
When Can I Remove Spouse From Health Insurance? | If you are covered under an individual policy you should be able to drop them from the coverage at any time during the year . The termination would generally be for the first of the coming month as your insurance carrier may decline to do a retroactive termination of coverage due to the possibility of recent unreported claims . You should note though that in today 's environment dropping your spouse from your individual coverage could leave your spouse uninsured until the next open enrollment period , which this year begins on November 15th for an earliest effective date of coverage of January 1 , 2015 . If your spouse is becoming eligible for Medicare then you will want to time the termination of the spouse 's coverage to match with the effective date of their coverage under Medicare . If you are covered under a group health insurance plan and you a having your portion of your health insurance premiums taken out of your paycheck on a pre-tax basis then your employer has a Section 125 plan in place and this restricts changes an employee can make to their enrollment status outside of the group 's open enrollment period . A change of life status event as defined under IRS regulations would have to occur for you to remove your spouse from coverage outside of the open enrollment period . | This is more of a maintenance issue and would not be covered under most policies . The standard homeowners policy covers you for direct physical damage to property which is sudden and accidental in nature . If the Stab-Lok panel does malfunction and cause damage to your property , the ensuing damages would be covered . Homeowners insurance is not intended to assist with the maintenance of the home and its systems . |
Is My Home Insurance Tax Deductible? | This is a question better asked of a Tax Professional , of course . Generally speaking they are not , however , there maybe situationswhere it may be possible for at least a portion of the premium . This is where you must consult your tax professional . There are circumstances where a home office is set up , where a portion of home expenses , including insurance MAY be tax deductible . These regulations change regularly so always use the knowledge of your tax professional with regard to Federal and State tax regulations . | Assuming the question is addressing an indemnification need , there are two items to establish from the get go . Can you economically justify the face amount youre applying for and is there insurable interest between the insured and the beneficiaries ? The second step is to create a personal financial profile , develop a risk tolerance point of reference and your economic goals . These will assist you in the type of life insurance you should consider . |
Is My Home Insurance Tax Deductible? | Based on my knowledge and education thus far I would say that it is not , but I am not a tax accountant . Please speek with your tax advisor to be provided with the most current and up to date information regarding whether or not a expense that you have is deductible in your current tax year or not . | Health insurance is designed to make benefit payments to medical providers . It does not replace income . Short term disability replaces income . You would need to have a policy in force prior to conception to qualify for maternity leave benefits . If you are eligible for FMLA protections , your employer must continue your health insurance benefits on the same basis as if you were working . You would have to continue making premium payments , or risk losing coverage . |
When Was The First Auto Insurance Policy Written? | The first auto insurance policy was written -LRB- presumably -RRB- in the 1900s and from one of the first insurers active in the property and casualty market . At that time , policies were simplified , limited , cheap and covered a fraction of what policies cover today . Now , you have a much wider choice of carriers and a much broader choice of coverage when you pick out and shop for a policy . | A very broad group of Property Insurance Policy Forms are referred to as `` Fire Insurance '' in large part because that is the first common covered peril listed in these policies . A `` Homeowners '' policy is sometimes referred to as this or as a `` Hazard Insurance '' Policys well . Homeowners however is specifically coverage for single family dwellings that are the primary residence of the property owner . |
What Is A 5 Year Term Life Insurance Policy? | As mentioned above , a 5 year term insurance is an insurance policy that is in force for 5 years then expires . It is designed for a short term need and or specifically for the purpose of converting to a Whole Life policy within that 5 year period . Most Term policies are `` convertible '' to permanent insurance and some companies limit the type of permanent insurance their term policies may be converted to . In `` converting '' a term to a permanent policy what happens is the face amount of the Term , or a portion of that amount is converted to a Whole Life or Universal life policy without the insured having to undergo additional medical testing or underwriting . The premiums paid to the Term policy are not credited to the new permanent policy and the new premium will be based on the current age of the insured . | Several things can happen if you lapse your homeowners insurance . If you carry a loan on your home your lender can force place insurance at usually a significantly higher rate simply because it is a requirement of your loan that you carry homeowners insurance . Also lapsing your homeowners insurance can make it very difficult to obtain a new policy since many carriers will not take a client who has a lapse . |
What Is A 5 Year Term Life Insurance Policy? | What is a 5 year term policy ? As the name suggest it is a policy that covers you for a specified amount for a specified premium for a period of 5 years . Typically the policy renews at a higher premium at the end of each 5 year period . You should check to see if the renewal is guaranteed and if so at what premium.If there is a possibility you will need permanent coverage you should check into what conversion options are available . If you are in the market for coverage , an independent agent / broker can help you find the right policy at the right price . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . | If you are receiving Social Security benefits at age 65 , you will be signed up for Medicare Part A and Part B automatically . When you get the packet in the mail , you will have a form that you can use to turn down Part B . At this time you can also opt out of Part A , but it is free and covers very expensive hospitalization costs , so you would be advised to keep it , or have very other good health insurance if you turned it down . If you are not yet receiving Social Security benefits at age 65 , it is not mandatory to apply for Medicare Part A or B at that time . However , it is again , advisable to at least get Part A . |
What Is A 5 Year Term Life Insurance Policy? | A 5 year Term Life Insurance policy has the rate locked in for 5 years . In my experience , the premiums for 5 year Term policies often exceed the premiums for 10 year Term , because there are far fewer companies that offer 5 year Term . If you purchase a 10 year Term policy and only want to keep it 5 years , you can simply cancel it after 5 years with no penalty . | Amerigroup is not Medicare ; Medicare is provided through the Social Security Administration . But Amerigroup is a Fortune 500 company that coordinates services for individuals in publicly funded health care programs , including Medicare and Medicaid . They sell Medicare Advantage Plans to cover expenses that are not covered by original Medicare . |
What Is A 5 Year Term Life Insurance Policy? | Great question ! This is a type of policy that fills a short term need - in this case 5 years . Term policies ' coverage stops at the end of that period . It then has to be renewed , and becomes much more expensive , so carefully consider what you want it for . Some good uses for this type of policy ? You need coverage , but at this point ca n't afford a whole life policy . Or you want to cover your child 's ' college expenses for the time they will be in school . If you would like more detail , please feel free to contact me , I 'm happy to help . Thanks for asking ! | Participating whole life insurance is manufactured by a mutual company where the policy holders own the company and elect board members who annual declare a dividend . A dividend is a return of unused premium and is not guaranteed . However , there are guaranteed cash values and death benefit that are contractual apart from the dividends as long as the stated and scheduled premium is paid . |
What Is A 5 Year Term Life Insurance Policy? | Term policies last for a specific number of years so long as you pay the premium . In this case , it would be for five years . After that the policy would end . You would then have to reshop the policy to get the best price , assuming your health remains good enough to qualify . That is why you should buy a longer term policy or a whole life permanent policy . Thank you . GARY LANE | NO , the IRS can not take your Life Insurance . When you die , the beneficiary will receive the death benefit . The IRS will go after the estate to pay any taxes that were owed from the deceased . Probate is the place anyone who is owed money by a person who is deceased , can go and make a claim for some of the estate . As a recipient of a Life Insurance death benefit , you receive the benefit direct from the life insurance company avoiding any probate . |
What Is A 5 Year Term Life Insurance Policy? | Just as the name sounds , a 5 year term insurance policy only guarantees the premiums will remain the same for the first 5 years - after that the policy becomes annually renewable and the premiums will increase each year -LRB- based on age -RRB- . Many companies feature a minimum 10 year policy and the rates are often cheaper to secure a 10 year term policy than a 5 year policy . Term life insurance guarantees the premiums will remain fixed for a specific number of years -LRB- 5 , 10 , 15 , 20 , 25 , or 30 years -RRB- . Once the initial period of premium guarantee expires , the program changes to either annual renewable term insurance with premiums increasing each year -LRB- based on age -RRB- or the premiums remain the same and the death benefit decreases each year -LRB- this structure is commonly seen on term insurance that is featured on a universal life chassis -RRB- . | That question never has a simple answer . There are just too many factors to consider in order to correctly price a life insurance policy . The main factors are type of life insurance , term length , face amount , age , build , lifestyle , health status , income , residence , occupation and net worth just to name a few . I recommend using an independent life insurance broker to help you find the best policy and price for your unique situation . |
What Is A 5 Year Term Life Insurance Policy? | Terms if bought for a specific number of years ' coverage . If you pay the premium on a five year term , it lass five years and then ends . If you want more , you have to shop for another policy at that time . It makes sense then to buy a longer term or a permanent whole life policy . Thank you . GARY LANE . | Most people dont enjoy paying their auto insurance premiums each and every month ! So , they often look forward to scheduled rate decreases , such as at the age of 25 . Why do car insurance rates decrease at this age ? Well , because the majority of crash claims are filed by young -LRB- ages 16 through 24 -RRB- and older drivers . As a driver matures , they become less likely to become involved in a crash according to statistics , so to offer an incentive for drivers to stay with a particular insurance company , discounts are often offered at the age of 25 . While it is generally true that auto insurance rates will decrease at the age of 25 , it isnt always the case . Drivers can expect their car insurance rates to decline at the age of 25 assuming the following remain constant - their driving history , incident history , and the make and model of their car . If all of these factors remain the same , male drivers can expect a premium discount as high as 20 % , while female drivers can expect a 12-15 % discount on their rate . Keep in mind that the above discount ranges are averages ; there isnt currently a standard amount of deduction that can be expected ; rate decreases will depend not only on the drivers history , but the insurance company , the type of coverage selected and the overall state of the economy . |
Who Can Be On Your Auto Insurance Policy? | Typically the people that can be listed on your auto insurance policy include any immediate family that are licensed drivers that reside in the same premise , any licensed drivers that you are the legal guardian of , and possibly a co-cohabitant within the same premise . Please contact a local agent to discuss coverage availability and pricing within your area . | Different companies and different states have different nomenclature for coverages . What this typically means is limit that coverage extends to another higher limit in the event of a total loss exceeding the Coverage A -LRB- homeowner Dwelling limit -RRB- . If you have a replacement value of say 400,000 on the house , then the maximum that would normally be paid for replacing the house would be $ 400,000 . But setting the value of replacement is not exact science and is also a moving target . If your home is destroyed by a fire it may be possible to rebuild within that 400,000 limit . But suppose the the city you live in is ripped apart by a tornado . Now there could be escalating costs of material and labor . What the extension does is give you an extension to another limit if needed . The extensions are usually sold in percentage increments such as 25 % ,50 % or even 100 % . So , back to the 400,000 coverage on the house . If 25 % extension then the limit of coverage is increased to a maximum of 500,000 -LRB- 400,000 X 1.25 -RRB- I hope that helps . If you live in one of the following states I would be glad to assist you : AZ , CA , MO , TX and GA. -LRB- call 1.866-933-4372 -RRB- otherwise seek out an Independent agent in your area who represents sever companies . Jack Heller , CPCU |
How To Calculate How Much Homeowners Insurance You Need? | The best way to calculate how much homeowner 's insurance you need is to do an estimated replacement cost on your home . This takes about 5 minutes and it involves determining the square footage of your home along with many other calculations . A licensed broker can quickly calculate the needed information and provide a free quote for the entire policy package . | In my opinion the best Medigap insurance plan is the one that delivers the most value for the premium charged . Usually it is any plan OTHER THAN Medigap plan F. Medigap Plan F is the most expensive -LRB- and most popular -RRB- but it also pays the highest commission to the agent . Most of my clients are satisfied with the premium savings and value they receive from Medigap plan G or plan N. #GeorgiaMedicarePlans |
Is Home Insurance Part Of Closing Cost? | If the premium for a homeowners policy is in an escrow closing that will be noted in the papers you sign . If you are responsible to provide the insurance , outside of the closing , the lender will normally require evidence of insurance at or before closing . This can create difficulties when you refinance in the middle of the year and move from a loan with an escrow account to one without an escrow account . If you fail to notify the insurance company the premium notice goes to the wrong place and it can lead to a policy lapse which is a major headache !! | Typically not . Motorized lawn and garden tools are covered , but motorized vehicles for either road or off road use are not . ATV 's , motorcycles , boats and PWC 's and RV 's should be covered under a separate policy . These policies are readily available and offer special coverages that are not typically offered in automobile policies , for example . Replacement guarantees , custom detailing , riding gear and so on in many cases are included . Some companies offer multi policy discounts so it is wise to shop around . |
When Does A Life Insurance Policy Mature? | It depends on how the policy was designed . A whole life insurance policy matures when it pays out a death benefit on policies that have no stated maturity date . Otherwise , the policy will indicate a maturity date which , on many whole life policies , may be age 95 , 98 , 100 , 120 , etc. . The issue with a policy that matures while the insured is still alive is that the maturity benefit will be taxable as the cash is constructively received at that point . Many policies in recent years have maturity extension riders or policy provisions which can extend maturity to prevent such an unwelcome situation so check your policy . Death benefits are normally received income tax-free but a living maturity is income taxable to the extent of gain in the contract to the policy-owner . If maturity is approaching and such riders are not present , insurers have been known to agree , upon request , to continue the policy extra-contractually . Contact an experienced life insurance professional for assistance . | No one is required to offer health insurance , but employers are strongly encouraged to offer it as a way of attracting people to come work for them . Depending on how many employees there are for a given company , the employer may be subject to employer shared responsibility payments -LRB- in short , a penalty -RRB- if they do n't offer group coverage and meet enrollment requirements . Employers also often offer group health insurance because they can get certain tax deductions and tax credits for doing so and enrolling employees . |
When Does A Life Insurance Policy Mature? | Life Insurance Policies can mature at the end of coverage as with term life insurance , a limited indemnification product . Term can be extended with a conversation provision in the policy in the case the coverage is necessary beyond the original time period . Maturated dates on permanent policies extend out to age 121 and some use the phrase , life of the insured . | I can not speak to nation wide because I am not appointed with them , however , I can say that the comprehensive form -LRB- other than collision -RRB- does cover water damage from floods . There is a caveat : if you live in an area that is susceptible to hurricanes or floods frequently there might be a sub-limit or exclusion to flood damage . You will have to examine your policy to make sure you do have flood coverage under your comprehensive section if you live in such an area . |
How Can I Be Sure My 401(k) Will Still Be There For Me In Retirement In 30 Years? | King Solomon had a keen insight into exactly what you are asking . In Proverbs 6:6 -8 we read , Go to the ant , you sluggard ; consider its ways and be wise ! It has no commander , no overseer or ruler , yet it stores its provisions in summer and gathers its food at harvest . Ants have done this for millennia . Of course they havent the benefit of the internet and financial pundits but they spend their days preparing for the days to come . In another place King Solomon spoke of those who would not leave the safety of their home for fear of what might happen . Again , that doesnt work either . | Yes , you can use HSA -LRB- Health Savings Account -RRB- funds for long term care insurance premiums . Tax Qualified -LRB- TQ -RRB- long term care insurance is viewed as a medical expense by the IRS . HSA funds can thus be used for long term care premiums , in addition to other qualified medical expense , for a tax deductible contribution . |
How Can I Be Sure My 401(k) Will Still Be There For Me In Retirement In 30 Years? | It 's a good question brought about by being pounded with doom and gloom that seems to dominate the media . The chances of what you think happening are pretty limited as there is much oversight of financial products here in the United States . That said , you can contribute up to the matching limit and go elsewhere to invest money for the future . The big thing is the future is coming whether you invest or not . When it gets here , you 'll have saved money or not . If you do n't trust your employer 's plan , and I am not saying that is crazy or wrong , do something else as an individual and get into the habit of saving . There are a huge amount of choices out there you can do . They all have different risks involved and tax consequences . Find what makes you comfortable enough that you will do it for the next 30 years . Cheers . | In Canada , when you borrow against your life insurance policy the amount you can borrow in stated in the life insurance policy . Important to remember , when you ask for a loan quote , to ask what if any of the amount borrowed will be taxable . Borrowing against a policy directly from the insurance company is considered a `` deemed disposition '' and can trigger a taxable event . When / if you repay the amount you receive a `` tax credit '' . Borrowing directly is private . If you use the policy as collateral from a bank , the loan is not a `` deemed disposition '' and therefore does not trigger a taxable event . The amount you can borrow varies , however , guidelines range from 50 % to 90 % depending on the type of policy and investment . There are consequence and alternatives to borrowing they should be discussed with a good local agent to ensure that you are informed . On a planning note , there are a number of strategies , that leverage individual and corporate borrowing . If you have further questions , contact me . If you are in Nova Scotia , you can request a complimentary strategy session at www.jpw.ca . |
How Can I Be Sure My 401(k) Will Still Be There For Me In Retirement In 30 Years? | That is a really good question ! And trust me , you 're not the only one asking it ... There are really very few certainties in life , but we all seek to find as many as possible . Knowing that we have a safely protected retirement certainly ranks up near the top . While we can not guarantee that our retirement fund will last , there are some things that you can do to help ensure it : 1 . -RRB- Have a clear picture of what retirement means to you - does it mean travelling and dining out often ? If so , your fund will need to be large enough to accommodate that . If it looks more like fishing and working part time , then perhaps your fund can be a little more modest , and still be fine . But if you do not know , `` People without vision perish , '' as the Proverb goes . 2 . -RRB- Pay close attention to how your 401k is performing . If you do n't know what it is doing , you are right to worry . While I do not recommend knee jerk reactions to losses , trends are worth paying attention to , especially if they are negative , precipitous , and lengthy . 3 . -RRB- Know your spending habits . Have a very good grip on your budget process , and where you can squeeze out a little more to invest . Having good habits and keeping debt low entering retirement helps with the life of your investment also . 4 . -RRB- Do not put all of your eggs in one basket , or as you more commonly hear , diversify . Start a Roth IRA to balance out your taxable 401k ; Purchase an annuity or two to ensure a steady income stream that will not run out . Purchase some property that you can earn an income from during retirement ; invest in bonds and low maintenance mutual funds . 5 . -RRB- Plan for the inevitable medical expenses that come with age . The Law allows for a dedicated retirement account used exclusively for health care to be non-taxable , if health issues are likely , start one . Look at a life insurance policy that includes living benefit provisions , or look into long term care protection . If your company offers an HSA , enroll , and start paying into it . 6 . -RRB- Save , save , save . Find high yield savings accounts , and be certain to have an emergency account . Having one allows you to be able to not have to make withdrawals from your retirement funds , or acquire more debt . Having one allows you to be able to make investments that otherwise would only be dreams . The best way to alleviate worry is to trust ; Faith in the One who provides for us , and being a good steward of what we 're given allows us to sleep at night . Hopefully there are ideas here that will help you . Please feel free to contact me if you would like a more personal analysis of where you sit . A great question , and one I 'm glad that you asked . Thanks ! | If you are in need of information on homeowner 's insurance in Iowa , give me a call or send me an email . Many companies offer the similar coverage as many of their contracts are written off the same template . There are some variations in coverage and coverage options which may apply to your personal situation . Trevor Toft State Bank Agency 7122754512 sbagency@schallertel.net |