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What Should Everyone Know About Annuities? | Tax deferred annuities have differing crediting methods to offer savers and investors alternative options within the product line . Tax deferral can be an attractive economic value with potential prospects in high tax brackets with mid to long term financial goals . Fixed rate annuities are especially attractive to savers as an alternative to bank CDs . | Term Life Insurance provides benefits only upon the death of the insured individual during the `` term '' . There are many reasons why a individual may chose to purchase a term policy instead of a whole life policy . The answer to your question is tied into the reasons why a individual purchased the coverage . Level Term Life Insurance policies generally have set periods of time -LRB- 10,20,30 years -RRB- where they will provide benefits , with level term premiums and benefits never change during the `` term '' or period of time that the individual is covered . There are also increasing/decreasing term life policies that are used to address different needs . The most common example would be a individual being contractually obligated to purchase decreasing term life when obtaining a mortgage . The policy would start out with death benefits equal to the mortgage , and decrease as the individual payed of the mortgage . The end result would be both the policy and the mortgage balance decreasing to $ 0 by the end of the period . |
Will Renters Insurance Cover Car Damage? | Did the home or apartment you are renting cause the damage to your car ? Renter 's insurance is designed to protect the household effects you have housed in the home or apartment that you are renting . Outside of some `` liability '' claim that may be within your questiion that I do not understand I think the answer to your question is answered by the very design and purpose of the `` renter 's insurance policy . | There are life insurance policies that can take a very long time to get , and there are policies that can take a very short time to get . The difference is how much is required during underwriting and how fast or slow the people working on your application are moving . While rare , No Exam life insurance exists that can literally be applied for , approved and issued within an hour . Most No Exam life insurance policies take a few days or more , depending on whether they also order medical records , and depending on how fast that particular life insurance company processes their No Exam policies . If the agent or agency you used is nonresponsive , this can also hold things up . Policies that require medical underwriting can take much longer . If you are in good health and utilize a `` quick '' app like many carriers offer , you will often need to do a long phone interview , but this can cut down your chances of the life insurance company ordering medical records . Having to wait on doctor 's offices providing medical records to the insurance carrier is the major cause of extended time during underwriting , so if that step is avoided , the process will go much faster . If your policy does require medical records to be approved -LRB- most policies requiring an exam do require medical records if a health condition exists -RRB- , you can help speed it up by calling your doctor 's office or perhaps even obtaining your medical records yourself . Also , be sure to list on your application ALL the doctors you have seen in the past 5 years , or any physicians that were involved in your diagnosis . Being able to order those from the start , rather than having the underwriter find out about them through reading one set of records and THEN having to order those additional records , can shave weeks to months off of the time it takes to put your policy in effect . Finally , if you are need to take a medical exam , take it as soon as possible . Much of the rest of the process revolves around that , so getting that out of the way quickly could help you have a policy in your hands within one month . |
How Much Does A Medigap Plan Cost? | Medigap insurance plan rates vary considerably by zip code , age , tobacco use and plan . The older you are the higher your Medicare supplement rate will be . The exception is for those who are under age 65 and on disability and Medicare . In most states rates for under age 65 are astronomical . Many carriers offer competitive rates from age 65 to 74 . Above age 74 some plans -LRB- surprisingly -RRB- become more competitive while others less so . Tobacco use often adds 20 % to the rate but can be more , depending on the carrier . Plan F is the most expensive -LRB- and most popular -RRB- followed by D or G -LRB- depending on your state -RRB- , N then Hi F . You can generally find a site that offers `` instant Medigap quotes '' but keep in mind the most competitive rates are usually not illustrated online . #MedigapPlanFRates #MedicareSupplementPlanFRates #GeorgiaMedigapPlanFRates #GeorgiaMedicareSupplementPlanFRates #GeorgiaMedicarePlans #GaMedigapQuotes | Excellent question and one about which there is much confusion these days . As a general rule , most health insurance policies do not cover routine eye exams -LRB- this would be different from an eye exam required to diagnose and/or treat a medical condition like Macular Degeneration -RRB- . Many employers and a growing number of individuals insure their vision care needs through separate Vision Insurance policies that do cover eye exams , lenses , frames , contact lenses , etc. . Where things get more confusing , and sometimes frustrating for the consumer , is in understanding some of the new benefits mandated by the Affordable Care Act -LRB- ObamaCare -RRB- . One of these mandatory benefits is that coverage for pediatric vision and dental be included in health insurance policies sold on or after January 1 , 2014 . So , you may be paying for a vision benefit that only your children can use and if you have no children you are paying for a benefit you , as an adult , can not use . The consumer should not assume that even if their new ObamaCare compliant policy is in place that this will translate into effective coverage for your dependent children . Each insurance carrier has designed their benefit plans differently in regard to the vision & dental requirements . Some make it an upfront benefit similar to vision insurance coverage you may have seen in the past while others require that the major medical plan 's deductible be met before such services would be reimbursed . So , if you have a Bronze plan with a $ 6000 deductible you technically have some vision coverage for dependent children but no effective coverage until you have met the $ 6000 deductible first . Buyer beware is my advice and the consumer should carefully research this benefit area in the various health insurance options you might be considering . This is another example of where an experienced and knowledgeable health insurance broker can be invaluable in helping you select the health insurance plan best suited to your needs and budget . |
How Much Does A Medigap Plan Cost? | Medigap plan costs -LRB- rates -RRB- are determined by zip code , age , gender , tobacco use , plan selected and most important of all , the carrier . Medigap plan F may vary by a factor of 2 between the highest and lowest cost . It is not unusual here in Georgia to see rates ranging from $ 140 to $ 265 for plan F . When you pay more you do n't get more , you simply paid too much . | The guarantees for fixed annuities are made by the insurance company offering the annuity . When you purchase an annuity , you are purchasing a contract in which the obligations of each party -LRB- you and the insurance company -RRB- are spelled out . Their obligation is to set and honor the guarantees in the contract . |
What Is A Rider On A Life Insurance Policy? | A rider is more than just someone that rides a horse . A rider in lifeinsurance is something that goes along with the basic policy . Most common riders are Waiver of Premium and Child rider in life insurance . Waiver of Premium rider refers to the avoidance of life insurance fees during a critical illness , as an example . Adding a rider is a way to sweeten the terms of a policy for an increase to the monthly premium . | When you buy a home insurance policy , its not a contract for life . If you are unhappy with your current coverage , you can easily switch to a new home insurance company . Before making this move , there are just a few things you need to do beforehand . The first thing you should do is review your current insurance policy . See when it is scheduled to end as well as if there are any costs for ending your contract early . For example , if you cancel a prepaid policy , some companies give you your unearned premium payments back while others will not . Check to see if it makes more financial sense to cancel the policy or just wait for it to expire . When you decide to make a move , you can contact your new insurance company and ask them to set up your new policy . You will need to fill out a short application to set up your coverage . When you submit your application , be sure to include your insurance premium as well . You wont be covered until after the insurance company receives your premium payment . Once your new policy is up and running , you can cancel your old policy . Call up your old company and tell them you want to end your coverage . They will mail you a document telling you your coverage is over and will also return any money they might owe you . After you finish cancelling your policy , you have finished switching home insurance companies . |
What Is A Rider On A Life Insurance Policy? | A particular rider that has been gaining momentum recently and changing how people view life insurance is known as an Accelerated Death Benefit rider . This rider allows the insured to access their own death benefit while they are alive . Typically this rider is enacted after the insured has a long-term care type event and requires assistance with activities of daily living . | Everybody ! Just about everyone is going to need life insurance at some point in their lives.When you 're a child , many parents look into buying a small whole life policy with future increase option riders -LRB- periodic allowance to increase the face amount of the policy in their adult years - generally this can be done 8 times beginning at age 25 -RRB- as there is no medical exam , given their age . When you 're an adult , you 'll likely have a mortgage for a house , loans for cars , credit card debt , medical bills , burial expenses , etc. , that you would like to have paid off in the event of your death so your family does n't suffer financially due to the lost income . Another common use is income replacement so your family can maintain their current lifestyle rather than having to make dramatic changes . Many people may also buy a life insurance policy for estate planning purposes . If you 're looking to buy life insurance , consult with an experienced life insurance broker who can help you determine how much coverage is suitable to meet your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
What Is A Rider On A Life Insurance Policy? | A rider on a life insurance policy is an added benefit to chasis of the traditional death benefit . A return of premium , child rider or a waiver of premium are all additional benefits that increase your coverage and also increase your premium . Make sure that your agent discloses any and all riders on your policy to make sure they are right for you and your family . | In short , yes . A person with bipolar disorder or manic depression has a type of mood disorder with wide swings between extreme elation and severe depression . Before engaging in the formal underwriting process , a life insurance professional would need to collect some information up front : Was this a single episode ? Was the episode brief in nature or did it continue for some time ? What triggered the episode ? Is it still ongoing ? Is it likely to recur ? When did treatment end ? Is medication still required ? The answers to these questions will help the life insurance professional determine the best way to shop the case for the best possible outcome since insurable cases may result in different offers from different insurers . Be sure to deal with a life insurance professional with access to many insurers and with experience in handling complex underwriting matters . |
How Much Is Whole Life Insurance? | Just like all kinds of life insurance the price you pay for whole life will depend on your age , gender , health history , etc. but in addition your selection of whole life policy needs to be based on your purpose for it . Do you want it for maximum cash build up ? For dividends ? For death benefit only ? Your agent will show you many options even within the same company . | Medicare Part D is the Medicare coverage designed specifically to cover the prescription drug needs of Medicare enrollees . There are a wide variety of Medicare Part D policies available from different insurance carriers and their costs , benefit structures , participating pharmacies and prescription formularies -LRB- the list of approved prescription drugs that they cover -RRB- do vary so you will want to shop around . Medicare Advantage plans , which are Medicare managed care plans , generally combine prescription drug coverage with their total package of benefits and so enrolling in a Medicare Advantage plan and taking out Medicare Part D coverage are mutually exclusive propositions . |
Does Home Insurance Cover Fence Damage? | The fence is included in most homeowners plans . Since fences can vary widely in cost there is a possibility that the fence would need to be individually valued in the policy . For normal fencing the claim might fall near or below the deductible which would make filing a claim to be futile . If you lose all or part of a fence get an estimate and call you agent before you report the loss to the claims department . The changes in your next years premium for having filed the claim could make it advantageous to forgo making the claim . | Yoga is not covered by health insurance . Some companies may offer a discount program with certain fitness facilities , but would not pay for you to take yoga . I hope the input is helpful - please feel free to contact me with any other questions or if I can be of help with your program . Thanks very much |
Does Home Insurance Cover Fence Damage? | Homeowner 's can cover damage to a fence , whether it is a wooden , metal or any other type . If not attached to the dwelling , it may fall under another part of a standard policy including `` other structures . '' Typically , you have 10 % -20 % of the amount on your dwelling covered for other structures . | That is a great question ! If you are the beneficiary , then you are the only one who can file the claim to receive the death benefit . Contact the insurance company , and file a claim . They will send you a form that needs to be completed , and sent back , along with a copy of the death certificate . Once the claim has been processed , the funds are released . I hope that helps . Thanks for asking ! |
How To Find Someone's Auto Insurance Information? | Unless you are talking about your own insurance policy , short of asking the person that you are referring to ; you would not be able to find this out . Privacy laws for insurance companies and there personnel are very strict . People involved involved in the insurance industry are bound by many of the same rules as other service professionals . | Most Medicare Supplement plans do not include prescription coverage . Only some of the old , no longer offered plans include it . If prescription drug coverage is a concern , a stand alone prescription drug plan can be used as well as a Medicare Supplement policy . Another alternative may be a Medicare Advantage plan that includes drug coverage . Be sure to consult with an agent certified to represent Medicare Advantage plans . There are some significant differences between a supplemental plan and a Medicare Advantage plan . |
Is Medicare Advantage Better Than Medigap? | That is a great question ! As Jason said , both plans have their positives , and negatives . The Medigap plans can cost more , but have better coverage . The Advantage plans are generally cheaper , but can change , and become a disadvantage . They are also the focus of cuts under the Affordable Care Act -LRB- Obamacare -RRB- designed to reduce overpayments and administrative costs . There were several large physicians organizations that grumbled about that , and they threatened to drop or cut back services . Whether they actually will , who knows . It might be safer to keep to Medigap . Thanks for asking ! | It is impossible to say what life insurance generally costs because the rates are so different for each policy . The ads that give a rate usually are basing it on a 10 year Term policy for an extremely healthy person , and that can be as low as $ 10/month for a 25 year old male purchasing $ 250,000 of 10 year Term life insurance . Bump the applicant 's age to 55 and the price quadruples to $ 40/month . Drop his health from the best class to Standard and the rate nearly double again . Let 's say the 55 year old man gets nervous about buying 10 year Term at that age and opts for permanent coverage . The lowest price for $ 250,000 of no lapse Universal Life at for a 55 year old man rated Standard is approx $ 320/mo . As you can see , so many things affect the price . But it is very easy to compare quotes for yourself by going to a website quote engine that offers free and instant quotes . Some , like ours , will even ballpark quotes with certain health conditions , but it is always best to call to talk to someone when you have a health condition , so that you can get an accurate rate . |
Is Medicare Advantage Better Than Medigap? | It depends on your specific situation and what you want out of your health insurance plan . I will give you some pros and cons to both . Medicare Advantage - 1 . The monthly premium is $ 0 per month or very low . 2 . However , the max out of pocket per year can be as high as $ 6,700 . 3 . Has a network that changes all the time . You need to see doctors and hospitals within that network . 4 . Has co-insurance , c0-pays and deductibles . Medigap Plans - -LRB- also known as Medicare Supplement Plans -RRB- 1 . Has a monthly premium . -LRB- the amount will depend on which plan you choose -RRB- 2 . The max out of pocket is $ 0 or very little . -LRB- some find it much easier to budget a monthly premium knowing they will never get stuck with a giant bill -RRB- 3 . No Network - You can go to any doctor or hospital in any state you want . If they take Medicare they will take your Medigap Plan regardless of who the carrier is . 4 . Has zero or very small co-pays , deductibles and co-insurance . 5 . The benefits can never change with a Medigap Plan . 6 . Medigap Plans are guaranteed renewable which means as long as you pay the monthly premium it can never be canceled on you . You can visit our website for more information . I would be happy to answer any questions you have . | Usually sold by mail these policies offer life insurance without a medical exam . Sometimes they include three or four health related questions . These policies offer ease of application and protection . The amounts offered are generally quite restricted but could make a significant difference in the plans of some people . The thing to remember is that this ease and protection comes at a price . The protection offered by companies providing standard insurance is generally a great deal less expensive . |
Is Medicare Advantage Better Than Medigap? | For some people Medicare Advantage plans are an excellent senior health insurance solution . I believe at last count we were in the 13 to 14 million seniors participating in Medicare Advantage plans . As with most every choice in life there are tradeoffs involved . Medicare Advantage plans are essentially HMO plans for Medicare eligible seniors . They offer a broad , comprehensive range of benefits and value added services and wrap everything up in one package . The flip side to Medicare Advantage plans is that their enrollees operate within the plan ` scontracted network of providers to receive their care . This does , by necessity , impose some restrictions on their member 's choices in doctors , hospitals , pharmacies , etc. , and this environment is not for everyone . That said , changes in the American health care system , some but not all prompted by ObamaCare , are also working in ways that make it more challenging for traditional Medicare enrollees to find and/or keep health care providers that accept Medicare . So , whichever way a senior citizen decides to go they will probably be faced with some difficult choices and compromises . Medicare Advantage plans vary from one insurance carrier to another . One ca n't objectively say that Medicare Advantage plans are , as a class , a better or worse choice than traditional Medicare plans . That is a determination that each individual has to make for themselves based upon their perceptions of their present and future needs . Certainly Medicare Advantage plans are an option that a senior citizen should consider but the important thing is that people have a choice . | Clark Howard is an out spoken opponent of annuities . He has several online videos and / content pieces on the topic . In one of Clark 's online video rants against Allianz he says , `` There 's almost never a circumstance that an annuity is called for . '' Check out the URL below : WEBSITELINK |
Is Medicare Advantage Better Than Medigap? | It depends upon your situation . Medigap plans are on average more expensive than Medicare Advantage plans . However , they tend to cover more costs that you may incur . It is important to discuss with your insurance broker your current situation . Your current health , financial situation , and the plans that are offered in your area all influence whether you should get a Medigap or Medicare Advantage policy . | Asking a life insurance agent how much life insurance costs is like asking a realtor how much a house costs . Which house ? Which life insurance plan ? There are entirely too many variables to answer that question . First is what is the need for life insurance and is there an insurable interest ? In other words , does someone lose financially or become saddled with your debt at your death ? Next are the underwriting questions to determine an accurate quote . We need your sex , age , build , health status , health history , life style , occupation , net worth , residence , and length of term or type of plan . It can vary over 14 rating classes as to which premium class you qualify for . I suggest using an experienced independent life insurance broker to shop the market to find the best product at the best price for your unique situation . |
Is Medicare Advantage Better Than Medigap? | Each type has it 's pros and cons . Medigap plans -LRB- commonly known as Medicare supplement plans -RRB- work with Original Medicare -LRB- Parts A & B -RRB- to fill the `` gaps '' that it does n't cover . Original Medicare covers about 80 % of your healthcare expenses . A Medigap plan can cover a portion or all of the other 20 % , depending on which one you get . That 's a BIG pro . You also are n't restricted to networks , you do n't need referrals to see specialists , any doctor that accepts Medicare will accept the Medigap plan , you can apply for a different plan at any point throughout the year -LRB- if you want a different carrier or different benefits -RRB- , and they are guaranteed renewable!The only con is that it typically costs more than an Advantage plan . Advantage plans can be a lot cheaper , but have more restrictions and limitations than a Medigap plan does . The big attraction with them is the cost factor as the premiums are very cheap and some plans even feature a $ 0 premium - they can also include drug coverage -LRB- you have to buy a stand-alone part D prescription drug plan if you want prescription coverage when you have a Medigap plan -RRB- . Some of the drawbacks are that you can have network restrictions , the plan coverage can change each year , your doctor can choose to no longer accept that specific plan , you 're locked in to that plan for a year and can only change it during the annual enrollment period -LRB- Oct 15-Dec 7 of each year -RRB- or if you qualify for a special enrollment period . Please note , regardless of which type of coverage , you must have both Part A & Part B and continue paying your Part B premiums -LRB- even though Advantage plans work in place of Original Medicare - Medigap plans work with Original Medicare -RRB- . Please let me know if I can be of further assistance . Thanks very much . | Variable annuities can be good investments . But there is no guarantee that you will earn the rate of return you expect or what was earned in the past . Past performance does not guarantee future results . Allow a full-time -LRB- not part-time -RRB- financial planner or broker discuss and review your best options . It will be the best investment you ever made . |
Does The IRS Tax Life Insurance? | The IRS does not tax most life insurance with income tax . If a cash value policy is a Modified Endowment Contract , the cash value is taxed . And if there is interest paid to a beneficiary because they are receiving their life insurance proceeds on a payment plan , the interest is taxed . Also , money left to the estate is taxed . But as a general rule , if money is life to a person as beneficiary , that person does not pay income tax on the life insurance received . Estate taxes do apply to life insurance , if the amount of the estate is above the exempted amount . | The key features unique to Annuities are : # 1 interest earned is not taxed throughout the accumulation period . # 2 . Distributions are fully guaranteed and have multiple options such as period certain , lifetime of the annuitant among others # 3 . Unlike qualified plans such as an IRA , an annuity owner can also chose to not take distributions and let the funds in the annuity pass directly to their beneficiary . Other products have some of the features of annuities however only annuities combine the features outlined here . . |
Can You Add A Parent To Your Health Insurance? | This is a good question . I have not seen this being possible for plans although I can not speak for all plans . However , I have sold many plans and many types of plans . You may have the option to get your parent their own individual plan . Cost would depend on factors such as age , height , weight , etc. . A broker can help you with your options . | Life insurance proceeds take from a couple weeks to a couple months to get , on average . The Departments of Insurance in the 50 United States regulate and observe the amount of time it takes for payments to be made . However , claims go faster if the paperwork is all in order , you have a certified death certificate sent with the claim forms , and all the information is correct . |
What Information Do I Need To Get Auto Insurance? | To secure auto insurance coverage with a carrier you will need your personal information -LRB- of course -RRB- , the VIN number of the vehicle that you are seeking to get insurance coverage for , an estimate of your mileage to work -LRB- at least one way -RRB- , the personal information of any other drivers in the household unless they already have their own auto insurance coverage , and money for the first payment . This is the minimum information required . | Responsibility for injury or damage resulting from the ownership of a car and the risk of damage to the car itself begins when you take title . In Massachusetts , you are required to have the required liability insurance before the car can be operated on the roads of the Commonwealth . |
Can I Buy A Life Insurance Policy On My Parents? | You can purchase life insurance coverage on anyone you share an economic insurable interest , including parents . Of course , they need to sign as the policy insured on the application and have to be mentally competent to do so . Life insurance policies held between different family generations are quite common . | Term life insurance , if paid each month , can continue for decades , but rates will escalate after the set number of years of the term . Whole Life , or cash value life insurance , if paid each month , or if paid from cash accumulation , or if prepaid , will continue until death . Many policies will end at a certain age , usually around age 120 , but will then pay the amount of the policy in full , as if death had occurred . You should discuss this with an experience Life Agent . We deal with these issues all the time . Thank you . GARY LANE . |
Can I Buy A Life Insurance Policy On My Parents? | This is a very common question . The answer is yes . Let me give you an example of what one of my clients did . It was very thoughtful . My client is a woman in her 30s . She is very devoted to her mother , who is in her 60s . Her mother took great care of her when she was growing up , and now she wanted to pay your mother back . She makes sure her mother lacks for nothing . She bought her a house , and pays her monthly bills . She bought her a car . She treats her to vacations . Her whole attitude is that my mother took great care of me , and now that I have the money , Im going to take great care of her . Of course , all the money she is spending now on her mother , is money she can not spend on herself and her own future . She is basically depleting her retirement fund for her mothers care . She came to me and basically said that she would like to get reimbursed at some point for the money she is spending on her mother . She will happily provide for her mother as long as a mother is alive ; however , when she dies , she would like to have an insurance benefit paid to her to replenish her own retirement fund . The goal was to get a life insurance company to offer a policy on her mother for that reason . And I did it . It took some digging , but I did find a life insurance company to buy into that concept . They did set a limit on the face amount , but it was reasonable as far as what my client wanted to accomplish . Certainly a win-win situation . | The presence of spider veins may mean a more serious condition such as DVT -LRB- deep vein thrombosis -RRB- . Surface veins , those that can be visible just under the skin , carry blood to your deeper veins that reside in the muscle . If these veins become weak or strained , they may contribute to venous disease . Have your doctor determine if your spider veins are merely unsightly or if there is an underlying medical condition . |
Is A Lump Sum Life Insurance Payment Taxable? | If you 're referring to you receiving a lump sum proceed from a life insurance death benefit , the answer is generally no . If you 're referring to a lump sum surrender of cash values from a life insurance company , then there may be anordinaryincometaxable event on all gain in the policy . | Yes , scuba diving is something that underwriters look closely at when evaluating your life insurance rates . The depth of the dives , how often you dive , where you dive , whether you are in a club , whether you are a rescue diver ; these are just some of the variables in getting life insurance as a scuba diver . Most scuba divers can get good rates and still get a policy that will not exclude scuba diving as a cause of death . |
Is A Lump Sum Life Insurance Payment Taxable? | As the other contributor stated , there are no income taxes owed on a lump sum of life insurance paid out to a beneficiary , in most instances . If the beneficiary is the estate , or if there is no beneficiary listed , the proceeds will be left to the estate and taxes will be charged . | When you take an exam for a life insurance policy , one of the common tests they conduct is a urine test . Each company tests for a set of markers -LRB- the exact markers may vary by carrier -RRB- , but each of them check for nicotine - the presence of nicotine indicates to the carrier the use of tobacco products . The type of tobacco product being used does matter though - a couple of carriers will offer a non-smoker rate -LRB- saving you thousands of dollars over the life of a policy , regardless of term or permanent insurance -RRB- if you only use cigars or chewing tobacco -LRB- some smokeless tobacco -RRB- , and not cigarettes . Prudential is known as somewhat of a `` go to '' company in the agent circles for people who only use the aforementioned types of tobacco . Cigarettes are considered smoker status across the board for underwriting purposes . Please note , when completing an application -LRB- even for a non-medical product -RRB- and falsify information -LRB- e.g. saying you do n't smoke and it 's discovered that you do -RRB- , the carrier can rescind the policy - it 's important to be honest with the carrier so you do n't run the risk of losing your coverage . Most carriers will require at least a 12 month period from the point of the last use of tobacco before considering non-smoker risk classes . Consult with an experienced broker before applying for coverage to discuss the benefit structure that will be most suitable for your needs - we can compare the rates from multiple carriers to see which will offer you the lowest rates for your medical history . Please feel free to contact me for further assistance . Thanks very much . |
Is A Lump Sum Life Insurance Payment Taxable? | In most cases , no . Life insurance proceeds are normally received income tax free by the beneficiary . There are situations where the proceeds can be taxable such as with employer owned life insurance where certain requirements to make the proceeds non taxable are not met . Or in the case of policies that have three different parties to the contract - insured , owner and beneficiary are different - insurance proceeds might become taxable . | yes . you can buy what is called a named operator -LRB- aka non-owners -RRB- auto insurance policy . It covers you in any non-owned vehicle you drive . however , a named operator policy does not cover the vehicle that you are driving -LRB- meaning no comprehensive or collision coverage is offered -RRB- . A named operator policy only offers liability coverage , medical coverage and uninsured motorist coverage . as an alternative , some states also have what is called a broad form named driver policy . It is very similar to a named operators policy , but with some minor differences . |
Should Roommates Get Separate Renters Insurance? | Roommates should have separate tenant insurance policies . There is no `` insurable interest '' in the property of the other on which to base a legal basis to pay a claim . Moreover , liability of the one without insurance will be uninsured and there are no legal means available to a policyholder to assume liability or transfer rights under a policy . | Can you get life insurance if you are diabetic ? Yes , you can , but a diabetic with excellent control at best could expect to pay a standard premium . While that sounds bad or not fair , when I began my insurance career 25 years ago the answer to this question was simply `` no '' . It has only been recent that insurance carriers began to offer policies to diabetics as diabetes is so unpredictable risk wise . |
Should Roommates Get Separate Renters Insurance? | For the most part , yes , roommates should buy their own policies . It is always a good idea to talk to your Insurance Professional about the specific laws in your state and terms and conditions of your contract . However , having your pwn policies means that in the event of a loss , there would be less liklihood of having to try to determine which of you owned what . | Life insurance is not usually mandatory or by law such as car insurance and now health insurance . The exception would be if you were ordered by a judge in a court case such as a divorce or child custody case . The other situation causing life insurance would be a contractual agreement . Some examples of a contractual life insurance agreement would be a secured loan or a business partnership agreement known as `` buy sell life insurance '' . Other than these types of special arrangements life insurance is not considered mandatory , but if someone you care about depends on you for care or finances then out of responsibility you should carry life insurance . Remember life insurance is not for you , it is for them . |
Should Roommates Get Separate Renters Insurance? | There isnt a legal definition for roommate . The person who needs to have a renters policy is the person whose name is on the lease and who has personal property on the premises . The personal property of a roommate is not covered by the policy although it is difficult to establish who owns what . The only person who must have the liability protection is the person on the lease . | Life insurance dividends are paid on par life insurance plans . Most par plans are some form of permanent life insurance but term policies can pay dividends as well . Dividends result from the insurance carrier `` overcharging '' you so any dividend is considered a return of premium and is normally not subject to taxation . |
Will Homeowners Insurance Cover Broken Sewer Pipe? | Broken sewer pipes are not normally covered by a homeowners policy . The peril that probably broke the pipe is earth movement which is excluded . Flooding could have contributed but it is doubtful that the pipe was damaged by fire or lightning . If you think that you have a claim , though , discuss it with your agent or with the claims department . | There are several life insurance companies that issue to age 90 . Here are just some of the bigger players : American General , Aviva , AXA , Genworth , ING , John Hancock , Lincoln Benefit Life , MetLife , Minnesota Life , New York Life , Principle National , Prudential , security Mutual of NY and Transamerica . Not all products issue to age 90 , but the list identifies at least one product . |
Will Homeowners Insurance Cover Broken Sewer Pipe? | More than likely no , there would be no coverage in your Homeowners ' policy . Fore the most part , if a pipe like that were to be damaged , it would be due to earth movement , which is an excluded peril in your Homeowners policy . That having been said , talk to your Insurance Professional because you can usually endorse your homeowners policy to include such a loss cause . Now also remember that if the pipe was damaged because a truck happened to drive over the area and cause the earth to compact causing the pipe to break , then the contractor and his insurance company would be responsible for the repair . | The domestic riding of a motor cycle in itself should not affect your ability to secure life insurance coverage as any other potential insured . However , motor cycle racing is a hazardous recreation and vocation subject underwriting flat extras . Also multiple motor cycle moving violations or DUIs , a subject rarely addressed in questions life this , could actually cost the potential insured more money than a convention car owner with the same motor vehicle report . |
When Is Life Insurance Part Of An Estate? | There are a few reasons why life insurance proceeds would become part of the estate . The first reason was the estate was the beneficiary . This is not wise unless a trust has been established . This will tie up the life proceeds in probate and can make them taxable when they should be income tax free . The second common reason is the beneficiaries preceded the insured in death and there was no living contingent beneficiary . The third most common reason is an older life policy that the beneficiary has not been kept up to date . This is an example of why consumers need life brokers to stay in touch and keep these policies up to date for the sake of the beneficiaries . | On average , Auto insurance in Ohio is near the lowest in the nation . Ohio averages $ 648 for auto insurance for 6 months , which is nearly $ 200 less than the national average . -LRB- WEBSITELINK -RRB- There are a number of reasons , however , that YOUR rates may be higher . The obvious factors of driving record , type of car , your age and gender , and where you liveplay a role . However , some other factors are credit score , length of time with a previous insurer , and even education/occupation can help determine which risk category you fall into . Another factor to consider is the amount of coverage you are receiving for the premium you are paying . The more coverage you have , the higher your payment will be . However , you should remember that minimum coverage is just that : MINIMUM . It likely would n't be enough to pay if you were sued for causing a serious accident . |
When Is Life Insurance Part Of An Estate? | First of all , you really need to talk to an estate planning attorney about this . We insurance guys know a lot about estate planning , but when there is a lot on the line , you need to consult with the expert . Plus , frankly , unless we have a special professional liability policy to cover this area , we dont have the insurance protection needed to cover our mistakes . One other point : make sure the attorney with whom you speak is a specialist in estate planning . Not real estate , not commercial law , not litigation . You want to get the best advice possible . Too much money is involved to speak with someone who only has a general knowledge of the field . Having said that , I can offer the following : If you designate yourself as the owner , could the benefit amount be included in your state ? Yes . If you designate the estate as the beneficiary , could the benefit amount be included in your estate ? Yes . If the beneficiary predeceases you , could the benefit amount end up in your estate ? Yes . Now : can you avoid these issues ? Yes . Could you use a trust as a tool for doing so ? Yes . Do you have a choice among different kinds of trusts ? Yes . Can you see why you need to talk to an expert on estate law to make a final decision here ? There are a number of routes to take . Whatever route you choose , you still need your broker to audit your policy on a regular basis . He or she needs to make sure it continues to meet your original expectations . If you do use a trust , a policy audit will definitely be beneficial to your trustee . That person could have legal liability if the insurance policy underperforms . A policy audit could head off trouble . | If you are talking about a denial to an application for long term care insurance , there are several steps you can take : 1 -RRB- Find out the reason for the denial . 2 -RRB- If the reason is a mistake -LRB- e.g. your medical records say you were diagnosed with CHF but they later found out you did not have CHF -RRB- , get a letter from your doctor succinctly explaining that , along with correct medical records , if possible . 3 -RRB- If the reason was high blood pressure at the insurance exam , high cholesterol on their labs , etc , offer to pay for a blood pressure reading at your doctor 's office , or a new blood test . Declines for any type of insurance are usually final , but sometimes you can reverse them . Using an agency that has lots of experience with impaired risk cases helps . |
When Is Life Insurance Part Of An Estate? | When the owner of a life insurance policy dies , and he/she is also the Insured , the proceeds of that policy are considered part of his/her estate . If the beneficiary of the policy is a spouse , that money passes to the spouse tax free . If there is no surviving spouse , the money is subject to estate taxes , but only if the value of the entire estate exceeds a certain amount . If the money is left to an ILIT -LRB- irrevocable life insurance trust -RRB- that was properly set up years before the death of the Insured , then those proceeds are not considered part of the estate . | The only reason to have a life insurance policy is because you owe money or you love someone . The debt part is easy as many creditors require that you carry life insurance to repay the loan should you die prematurely . The love part is really basic . If you dont care , then dont buy life insurance . It might have some investment benefits but ultimately it is designed to ease the lives of those who will suffer when you pass away . |
When Is Life Insurance Part Of An Estate? | Life insurance becomes part of the estate if none of the beneficiaries are able to be found . This is one of the reasons it is important to keep your life insurance policies up to date . If you purchased the insurance through an agent , make sure to keep them informed of any changes in your choices . It will make everything easier for the people you leave behind . | Yes , unless they are guaranteed to stay `` level '' , life insurance premiums can increase . One of the biggest factors on how much life insurance costs , is the length of time for which you lock in your premiums . E.g. . If you buy a 10 year level term policy , the premium will be relatively low , but will only stay the same for 10 years . After that , the premium will increase drastically . However , if you buy a permanent policy with guaranteed level premiums , the initial premium will be higher , but you will never experience a rate increase . When you are approved for a life insurance policy , you will see right at the front of the printed policy how long your premium is guaranteed to stay level , and at what point the premiums could/will increase . If you are nearing a point in your policy where your premiums will go up , you might want to take care of that now , as you may have options now that will not be available after the premium increase takes effect . |
When Is Life Insurance Part Of An Estate? | Life insurance benefits are income tax free , but they can be included in the calculation of your taxable estate for estate tax purposes.The life insurance proceed amount is included in your gross estate if the proceeds are paid to the estate - this can happen if the named beneficiaries predecease the insured or if the estate is named the beneficiary directly . A life insurance trust can help keep the proceeds out of the calculation of the estate - the trust would become the owner and beneficiary of the policy and control how the monies are paid out . | A deductible is the amount you must pay before your benefits `` kick in '' and begin paying -LRB- for most services - some benefits , such as preventive care , provide coverage immedicately -RRB- . The deductible amount varies by plan . For example , under the new Affordable Care Act , a catastrophic plan may feature a $ 6,350 deductible , a bronze plan may feature a $ 5,000 deductible , a silver plan may feature a $ 3,000 deductible , a gold plan may feature a $ 2,000 deductible , and a platinum plan may feature a $ 0 deductible . These figures are not the same for all plans on each metal level . |
Who Sells Long Term Care Insurance? | There is a small inventory of long term care insurance companies left in the market place . While there are other companies these appear to be the real players in Long term care insurance : Mutual of Omaha , John Hancock , Med America , Trans america and Genworth . keep in mind that some long term care insurance riders are attached to life and annuity contracts as a supplement to elder care for seniors . | Much like homeowners insurance , renters insurance will provide some limited coverage for jewelry stemming from a covered loss . If the coverage amount is not enough within the policy you may have to schedule the ring to get the proper level of coverage . Please read your policy completely to know what coverage is offered and what exclusions there may be or contact your local agent to have them go over the policy with you . |
Who Sells Long Term Care Insurance? | The agents who sell Long Term Care Insurance are licensed in Health Insurance . However , many life insurance companies also sell Long Term Care Insurance , and many agents who specialize in Life Insurance also sell Long Term Care Insurance . You can input `` Long Term Care Insurance Quotes '' in a search engine to bring up a list of companies and how to reach them , or a broker who sells their products . | You will be financially exposed for any liability claims and any damage to your home that is not covered by someone else 's liability coverage . If you have a mortgage your lender may require you to pay the premium for coverage that they are able to secure for the property if you do not obtain coverage on your own -LRB- typically within 30 days -RRB- . |
Why Are Medigap Policies Standardized? | The rules for Medigap policies are established by the federal government even though the policies are sold through private health insurance companies . The long and short of why they were designed to be standardized is because they are SUPPLEMENT plans to Original Medicare and work WITH your Part A & Part B coverage . They do not provide the coverage in place of it -LRB- the ones that do would be Medicare Advantage programs which operate in similar fashion to traditional under 65 health plans -RRB- . I hope the information is helpful - if you have any other questions regarding Medigap plans and or need quotes for coverage , please feel free to contact me . Thanks veyr much . | Generally speaking Twinrix is considered an outpatient drug thus covered under Medicare Part D. Assuming the beneficiary has a Part D plan with Twinrix on the formulary , the drug -LRB- vaccine -RRB- would be covered according to the terms and conditions of the specific Part D Plan and would be subject to deductibles and co-pays per the plan . You can get Part Dplan information for all plans available in your countyat WEBSITELINK , or by contacting a local advocate or a broker . Feel free to ask a follow up question . All the best . Mark |
Is Homeowners Insurance Increasing? | That is a great question ! Unfortunately , they probably are . The price for homeowners depends in part upon the cost of building and repairing homes near you , so as construction costs rise , so do premiums . The price can also rise if a number of claims have been filed near you , and if the company is trying to recapture lost profits . Your best bet is to contact a local agent who can help you compare prices , and see if there is one that might be more affordable . You can always gamble and raise your deductible also . Thank you for asking ! | No it is not a legal requirement . Many lenders however will require mortgage life insurance to protect themselves . Also , there have been cases where a judge has required a divorced spouse to carry life insurance to cover a mortgage or protect minor children although these cases would depend on the situation . As a general rule however , you are not legally required to carry mortgage insurance . |
Is Homeowners Insurance Increasing? | On average they are . Of course rates can vary state to state and region to region within those states depending upon the type of risk that may be more prevalant . Coastal areas are more susceptible to wind and hurricane losses whereas inland plains states might have to deal more with tornadoes or wildfires . Flooding can occur anywhere and though that is not covered by standard Homeowners policies , homeowners who happen to own property in a higher risk flood zone will be required to purchase Flood Insurance , thus increasing their insurance costs . Climate change has certainly affected the frequency and severity of certain weather patterns and that has had a direct impact on property losses and therefore insurance premiums . | In most cases , yes chewing tobacco is viewed by the majority of life insurance companies the same as smoking . Nicotine is the key addictive ingredient that causes a higher rating . Therefore , nicotine gum and patches are rated as well . Life insurance companies typically double or triple rates based on nicotine use . However , there are a few carriers that under certain circumstances will underwrite you at a non tobacco rate . feel free to contact me if you have any further questions . I am always glad to help . |
Is Homeowners Insurance Increasing? | Rates depend upon individual states . They could be moving one way or another in your state . However , your individual policy may be increasing for some other reasons . These havent anything to do with the states rates . The fire rating for you home may have changed based on industry evaluation of homes in your area . Your policy might have a provision that increases some coverage every year to compensate for the increased cost of reconstruction . Your home has undoubtedly aged a year and your policy probably adjusts for that . On an individual basis , a paid claim can affect your premium . | Yes a sole proprietor can deduct disability insurance premiums from income for income tax purposes . If you choose to do this , it 's important to keep in mind that the benefits paid by the policy if on claim will be received as taxable income and you will need to pay income taxes on the benefits received . If instead you choose not to deduct the premiums , then the benefits can be received income tax free . |
Why Get Disability Income Insurance? | We need disability insurance so that we can continue receiving a paycheck should an illness or disability strike . If you became ill or disabled , how long do you think you could sustain your lifestyle without a paycheck ? For most Americans , the typical answer is about 6 months . We dont think twice about insuring our cars , homes , boats or health , but we forget that our most important asset is our PAYCHECK . Disability insurance is a fancy way of saying paycheck protection . | Regardless of whether or not a life insurance agency advertises cheap life insurance , the reality is that all life insurance companies must charge you the same price , no matter where you purchased the policy from . However , there are some factors that enter into whether you will find a cheaper policy at one agency over another . Some of these agencies ' methods are positive , and some are negative . Here are some examples of both . Positive 1 -RRB- The insurance agency takes all your health details and shops among multiple carriers to find the one that will issue your policy at the cheapest price . 2 -RRB- The insurance agency will sell you a policy that suits your need , not pressuring you to buy a more expensive policy just because it makes them more money . 3 -RRB- The insurance agent will go to bat for you if you are rated unfairly , and strive to help you resolve that , or find you another policy , if possible . Negative 1 -RRB- The insurance agency offers you a short term policy , or accidental death policy , just to make the sale . They do this whether or not that type of policy best suits your need . 2 -RRB- The insurance agency neglects to ask pertinent health details and then offers you a cheap policy . Or else they ask health details but still claim to be able to get you impossibly low rates , often out of ignorance . Ironically , to get the cheapest life insurance , you need a life insurance agent who is `` valuable '' . Go to someone you trust to listen to you , who will shop your case among multiple carriers to find your best price , and who will not sell you something worthless just to save off a few dollars and make the sale . That way you will have a policy of value at the most affordable price . |
Why Get Disability Income Insurance? | The biggest reason to get Disability Income insurance is so that you can keep income coming in at a time when you need it most . Suffering a disability of any duration can be a traumatic and costly experience . To have the added financial pressure of no income coming in can make it much more difficult . Getting Disability Income Insurance will at least partially protect you from that added stress by paying you up to 80 % of your income while being unable to work . | A police report is often very difficult to obtain . In many jurisdictions the policy will respond only to accidents involving bodily injury . These jurisdictions often have a report request on their website . However , with the widespread use of smart phones , you can snap pictures at every conceivable angle and establish the loss quite clearly . |
When Does A Life Insurance Policy Endow? | A life insurance policy endows when the guaranteed cash value equals the initial face amount . The typical policy may endow at age 100 or for policies using the latest mortality table , they may endow at age 121 . Bear in mind that a life insurance policy 's premium schedule may differ from the endowment year . In other words , a policy may have a premium paying period of 10 or 20 years or age 65 yet the endowment will still be later . | I was a stay at home mom for 13 years , and most of us moms make that choice because we want our children to have the best and most trusted care possible . If you were to pass , no one could replace you . But you would want your husband to find the next best possible caregiver for your child -LRB- ren -RRB- . The benefits from a life insurance policy could help him do that . |
When Is A Whole Life Insurance Policy Paid Up? | A whole life insurance referenced as being paid up means that the policy is self-sustaining because of the size of the cash value relative to the face amount and the interest and dividends earned can keep the policy going forever without the need for any more premium payments to keep it going . The policy uses the cash value to pay the premiums for the policy . If you borrow from the cash value for a `` paid up '' policy , you can affect its ability to keep the policy going without paying more premiums . In short , you can make a `` paid up '' policy no longer paid up - you may have to start paying premiums again . Some policies are specifically designed to stop premium payments after a certain number of years -LRB- e.g. a 10 pay , 20 pay , pay to age 65 -RRB- . You 're paying more in premium per year , but the overall sum total that you pay over a given time -LRB- e.g. compared to paying a lower premium for 35 years -RRB- can offer savings in the long run . I hope the information is helpful - please feel free to contact me if you have any questions . Thanks very much . | Life Assurance is a term more commonly used in the United Kingdom , but it describes the same basic contract that is known as life insurance in the United States and elsewhere . Life insurance is a contract where a company and a policyholder agree that in exchange for a specified amount of money , the insurance company will provide a specified death benefit if death occurs during a specfied period of time . |
When Is A Whole Life Insurance Policy Paid Up? | It depends does not really sound like much of an answer . It really does depend on the type of plan you have chosen . Some plans are guaranteed paid up after a number of years for example 20 years , at age 65 or 100 It would be stated in the policy contract . If the policy is participating -LRB- with dividends -RRB- then you maybe able to use dividends to reduce or pay premiums . -LRB- Dividends are not guaranteed -RRB- 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 . | The policy owner can determine the current cash value of their life insurance policy by contacting the servicing agent or the life insurer directly . The annual statement you receive from the insurance company will have the contact information for both listed . It will also have the cash value as of the policy anniversary date . That value may not adequately reflect the current cash value but it may give you an idea . You can also request a current inforce projection and full statement of policy costs and values when asking for the cash value . |
Can I Be Denied Medigap Insurance? | If you apply for Medigap coverage during your initial enrollment period -LRB- usually at age 65 -RRB- you can not be denied coverage . Also , there are specified guaranteed issue situations where a carrier can not deny your application . These situations include losing an Advantage plan , losing your employer group health insurance plan -LRB- past age 65 -RRB- or if your current Medigap carrier exits the market or goes bankrupt . Outside of specified guaranteed issue situations , you can buy a Medigap plan at any time subject to medical underwriting . | A homeowners policy covers damage from severe weather . It does not pay for weathering . Many insurance companies adjust claims for the roof differently than from the rest of the building . Even if the loss to a roof is the result of a storm , the company will normally adjust the claim on a depreciated value . This is because roofs have a limited life span . |
Can I Get Car Insurance For Just 1 Month? | Yes . There are some regional carriers that can provide short-term car insurance . This is used when someone is borrowing a friends car , or for a long term rental . I do not recommend purchasing a six month policy then cancelling it after one month . The reason I do n't recommend this is that insurance companies want to know if you canceled a policy early on applications . If you are applying for insurance in the future and answer honestly -LRB- which you should do -RRB- , then it will cause your rates to go up , or could cause the underwriters to decline your risk . I hope this helps . | A state approved voluntary plan for Disability Insurance is offered by the State of California . Employers in California may use the State Plan or a Voluntary Plan to cover their employees . Contact the Employment Development Dept for the State of California for details and options for your Disability coverage . |
When Should I Get Long Term Disability Insurance? | There are schools of thought that purchasing long term care insurance -LRB- LTCi -RRB- early on when youre healthy is the ideal time to buy LTCi . Conventional wisdom is no later than age 50 when the potential morbidity events begin to increase and at age 62 for price considerations . Establishing a long term care insurance policy is part of defensive retirement planning and should be a high priority based on life expectancy and the average cost for extended care during your senior years . | Yes ! Humana does offer Medigap plans . Of the 11 different plans in the marketplace , Humana offers Medigap plans A , B , C , F , G , K , L , N , and High-deductible F - please note , not every medigap plan may be available and may not be sold in every area . Medigap plans are the same from every company because they 're standardized by the government . The only difference between the coverage from each carrier is the price they charge for it . Price quotes are determined by the quoted plan -LRB- s -RRB- , your age , zip code , any tobacco usage , and marital status -LRB- some carriers offer rate discounts if married and if spouses applying together -RRB- . It 's important to compare the rates from every available option in your area -LRB- including Humana and every other insurer offering Medigap plans in your zip code -RRB- so you can secure your desired Medigap plan at the lowest possible cost . If you need quotes for Humana 's Medigap plans -LRB- as well as those from other carriers to compare to as well -RRB- , please give me a call at 888-972-0024 - that connects to my office directly -LRB- not an automated system -RRB- . You can also send me an e-mail by clicking on the `` contact me '' button next to my name . I hope the information is helpful - please feel free to contact me for help with any other questions as well . Thanks very much . |
Does My Spouse Need To Be On My Auto Insurance? | To the best of my knowledgein Wisconsin all licensed drivers within the household must be listed on your policy unless they have their own policy . Each state has it 's own regulations about auto insurance coverage and regulations change from time to time . I would recommend that you contact your local agent to find out what the requirements are within your geographic area . | Liberty Mutual hasrentalcar coverage available as part of their policy . Liberty Mutual has both options of extending a Liberty Mutual policy to arentalcar or the option of rental car reimbursement . This would be best discussed with a Liberty Mutual agent as to the terms and conditions of rental car coverage or rental car reimbursement . |
Is It A Law That You Have To Have Health Insurance? | When you filed your federal tax return for 2014 -- sometime before April 15 , 2014 -- you may have realized for the first time that failure to have purchased health insurance in 2014 subjected you to a special tax penalty , known to tax lawyers as a `` shared responsibility payment . '' Last year , 2014 , was the first year for which tax penalties were assessed for failure to obtain health insurance . You will be assessed a similar penalty for the present tax year , 2015 , unless you purchase insurance for this year . Normally , you would be required to purchase insurance by February 15 - the end of the open enrollment period for the year . However , if you can claim that you were not aware of the tax penalties until recently , applicable regulations extend that deadline and allow you to purchase insurance up to April 30 , 2015 . The tax penalties for not obtaining health insurance are significant , and they are going up in 2015 . For example , a single person with income of $ 40,000 , paid a penalty of about $ 300 in 2014 , but in 2015 the penalty would be about $ 600 . A married couple with two children and joint income of $ 70,000 , paid a penalty of about $ 500 in 2014 , but in 2015 the penalty would be almost $ 1,000 . You can take advantage of this special extended enrollment opportunity through Covered California , the health insurance marketplace established by the State of California under the Affordable Care Act to make it easier for Californians to shop for , compare and purchase private health insurance . Depending upon your income , you may qualify for subsidies that will reduce the cost of health insurance to you and your family . You have a number of insurance options available to you through Covered California . In general , you can purchase a bronze , silver , gold or platinum policy -- the bronze policies have lower co-pays and premiums , but also offer more limited coverage and higher deductibles . Platinum policies are more expensive and offer greater coverage . Silver and gold policies fall between . Depending upon where you live , you can purchase policies from the following private insurers on the Covered California marketplace : Anthem , Blue Shield , Chinese Community Health Plan , Health Net , Kaiser Permanente , LA Care , Molina Healthcare , Sharp Health Plan , Valley Health and Western Health Advantage . If you do not wish to purchase insurance through Covered California , you may still take advantage of the extended enrollment period through April 30 . Private insurers have been authorized to extend enrollment to April 30 -LRB- from the normal cut-off of February 15 -RRB- to those Californians who had not been aware of the tax penalties for failure to purchase insurance . Insurers are not obligated to extend the standard enrollment period , but a number of them have , including Kaiser Permanente , Anthem , and Blue Shield . However , please note that if you qualify for subsidized health coverage , the subsidies are only available if you purchase your health policy on the Covered California market . Two additional quick notes : If you qualify for Medi-Cal , you may apply at any time . You are not subject to the April 30 - or any other -- application deadline . And if you are the subject of certain major changes in your life -LRB- for example , loss of health coverage through your employment , marriage , move to California -RRB- , you may enroll in an insurance program after such event . However , in all other circumstances , if you want to avoid paying a tax penalty when you file your taxes next year , take advantage of this special enrollment extension and purchase an eligible health insurance policy by April 30 , 2015 . | The simple formula is take add up all of your debt . Your mortgage , auto loans , student loans , credit cards , etc. whatever would have to be paid . If you have children , the cost of their education . Then take ten times your income for your loved one to invest and replace your income with the interest off of the lump sum invested . For a `` stay at home '' parent you need to calculate the cost of replacing them , meaning child care , housekeeper , cook , someone to run errands . You know the things we take for granite . Add the totals along with the time period and you should be very close to having the face amount and term needed on your term life insurance . If you need more help contact a trusted life insurance broker to walk you through it . Almost all of us are free for our advice . |
Is It A Law That You Have To Have Health Insurance? | The Patient Portability and Affordable Care Act -LRB- PPACA -RRB- commonly known as Obamacare is not a law that you have to have health insurance . It does require insurance companies to allow you to join an insurance plan regardless of your past health history . This would be extremely expensive for the insurance companies if only sick people joined the plans and healthy people did not . Because of this , a tax was set up to encourage everyone to join a plan . If you do not sign up for a health plan by March 31 , then you will owe a tax on your income tax next year equal to 1 % of your income or $ 95 dollars , whichever is more . More importantly though , if you do not sign up for health insurance , you wo n't have health insurance . Even the healthiest person could contract an illness or injury and need medical care . With medical expenses getting higher every year , paying a few hundred dollars each month to ensure that you wo n't have to pay thousands unexpectedly is a good trade off . The deadline is approaching quickly , so please contact a local broker and sign up for health insurance . | Not at this time . Medicare could face some changes down the road however . Do not let the political scare tactics of either party cause you undo concern . At the same time it is good to keep informed of any changes and if you disagree with those changes then contact your congressman . |
Much Does Auto Insurance Increase After Speeding Ticket? | A speeding ticket will not always increase your auto insurance rate . For example , the insurer may check your driving record every 2-3 years . in those instances , you may have a few years of retaining specific discounts before there is a rate change . Of course , the carrier may check the record annually . It is also possible the ticket has no impact on your rates . Each company is different with separate sets of underwriting guidelines . When applying for a new policy , a recent ticket will have a bigger impact . Since the underwriting department bases your premium on your current driving record , it will likely impact the rate you are offered . | Yes , The Balanced Budget act of 1997 loosened the guidelines a bit to allow a nurse practitioner the ability bill medicare separately and independently from a physician as long as certain criteria are being met . 1 . They are considered physicians ' services when furnished by an allopathic or osteopathic physician . 2 . Services are provided by a person that meets the definition of a nurse practitioner . 3 . They are not otherwise excluded from coverage by law . 4 . Services are performed in collaboration with a physician . 5 . State law must allow the services to be performed by a nurse practitioner . |
Will My Health Insurance Cover A Breast Pump? | Check with your company but I would say no in most cases . Breast Pumps are not a medically necessary item , they are more of a convenience and really not that expensive anyway . If there is a medical necessity then it is possible your company would approve the breast pump . | You generally need at least 2 qualified people to get group insurance . Qualified meaning employees . If you 're asking because of pre-existing conditions , remember that pre-existing conditions wo n't matter anymore starting January 1 , 2014 due to healthcare reform . The other advantage of group insurance is that you pay the premium with pre-tax dollars , but again , you must submit documentation proving employee status . |
Will My Health Insurance Cover A Breast Pump? | In 2014 , The Affordable Care Act will increase the preventive coverage that must be provided on health insurance plans . Breast-feeding counseling and presumably education will be covered . Coverage on the actual pump seems to vary.It is best to contact your broker that represents the policy and he/she can quickly determine benefits . | There is no uniform health insurance system in Europe , each nation has it 's own system . On the whole , European nations have taken a more socialized approach to financing health care than we have in the United States -LRB- though ObamaCare is kind of changing that -RRB- . In Switzerland you are mandated to purchase private health insurance . In Britain they have the National Health Service that provides health insurance for the masses while at the same time having a growing private health insurance and health care delivery system for the people who can afford to operate outside of the national system -LRB- the class system remains alive and well in England and many European nations -RRB- . Some European systems give the illusion of being `` free '' but people are really paying for their care in the form of higher taxes and rationing of care along with price controls on healthcare providers . While there are things we Americans can learn from the European experience , the Europeans have hardly achieved perfection when it comes to health care and health insurance . |
Is Pneumonia Shot Covered By Medicare? | Yes , a pneumonia shot is covered by Medicare Part B for anyone receiving Medicare . Pneumococcal shots are usually only needed once in a lifetime to prevent pneumonia . If you doctor does n't accept assignment , you may have to pay an additional fee for the doctor 's services , but not for the shot itself . | Yes , unless you are independently wealthy and do not care about the amount of money that you spend out of pocket should you become sick or injured . Health insurance will at least provide you with a partial cap on the amount of money that you spend out of pocket . Normally this amount is called the deductible and co-pay ; many of the cost beyond this will be paid by the policy up to the policy limits . 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 . |
What Is Medicare Voucher System? | The Medicare voucher system gained some attention during the last election when Paul Ryan talked about ways to make Medicare more accessible to beneficiaries . It is no different from the current system in that you have a choice between original Medicare or a privatized Medicare Advantage plan funded -LRB- in part -RRB- by Medicare . | This is a very broad question . It depends on your age , sex , health , the amount of coverage you need , and the length of time you need the term coverage for . I 've seen policies ranging from $ 15/month to $ 1500/month . Each situation is different , and there is no one company that will give everyone the best rate . Speak to your local insurance broker , and they will find the best deal for you . |
How Much Will A Million Dollar Life Insurance Policy Cost? | I would n't be able to provide a figure for your without knowing more about what coverage structure you 're looking for and your medical history . The cost -LRB- premium -RRB- for a $ 1,000,000 life insurance policy depends on a number of factors so it will be different for everyone . These factors include their age , gender , how long they want the coverage for -LRB- 10 , 15 , 20 , 25 , or 30 year term insurance vs. permanent insurance -RRB- , and their risk classification -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 on a 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 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 independent life insurance broker who can work with you on a personal level and help determine which carrier will be able to offer you the desired coverage at the lowest possible cost . Online `` instant quotes '' only provide input based on teh factors entered in , but not necessarily what you will qualify for - this is why talking to an agent is critical for providing the most accurate information for you . I hope the information is helpful - please feel free to contact me for assistance with your coverage , including quotes and policy comparisons , and if you have any other questions . Thanks very much . | In addition to the two excellent reasons Neil gave , I would add that a young person might want to buy Long Term Care insurance if you have a family history of rheumatoid arthritis , multiple sclerosis , diabetes , or other health conditions that increase the chances of needing long term care in the future . It is nearly impossible to get long term care insurance after being diagnosed with some diseases . Getting the coverage while you can is a good idea with any type of insurance that relies on medical underwriting , as Long Term Care insurance does . |
How Much Will A Million Dollar Life Insurance Policy Cost? | The premium for a million dollar policy will depend on your age , gender , tobacco status , health , build , and certain risk factors . It also depends on how long the premium is locked in . E.g. . The cost for a permanent policy would be more than for a term policy , because the premium is locked in for life . You can use a quote engine offering `` instant '' quotes to input some different variables to see what a million dollar policy could cost for you or others . Please converse with an agent by phone , email , or in person before purchasing your policy . Getting with the right company is important with a policy this large , because there is a lot to be saved when you get the lowest premium . | To be the beneficiary of a life insurance policy means that you would receive the life insurance proceeds if the insured person passed away . Primary beneficiaries are the person or persons who are `` first in line '' for the death benefit . The policy owner picks the beneficiaries , and if there are more than one , the policy owner determines what percent goes to each person . If there are two primary beneficiaries and one dies before the insured person dies , the other primary beneficiary gets the entire death benefit . Contingent beneficiaries can be named in case none of the primary beneficiaries are longer alive when the insured person passes . |
How Long Are Medicare Cards Valid For? | Medicare cards are valid for as long as you have them . In the United States , Medicare cards do not have an expiration date . If you lose them , you can order a replacement Medicare card . But other than for that purpose , there is not a need to order a new Medicare card . | Not at all . However , as was said above , there are applications for life insurance which would ask abotu STD 's . Still , the major one life insurance comapanies are most concerned with remains AIDS/HIV . Also DMV records and such depending on your age . However , if you have gotten treated for Herpes and there is something on paper ata doctor 's office saying as much , it MIGHT pop up on the medical records check that a life insurance company might do . Just an FYI . |
Which Health Insurance To Buy? | The health insurance plan you should buy is the one that is most suitable for your specific needs . It 's true ! Different plans are available in different parts of the country - plus , we all have our own preferences and cost tolerances . The cost of a plan will vary from person to person as we each can be of a different age , live in a different area , some may use tobacco products and some do n't , and you may or may not qualify for a subsidy that can reduce your premium . Under the Affordable Care Act , you have the options for bronze , silver , gold , and platinum level plans -LRB- as you go up in metal , the price goes up , but provides better benefits -RRB- - some areas also have a catastrophic plan available . In addition , your age is a big factor as well . The younger you are , the cheaper your premium - the older you are , the higher your premium . Also , if you use tobacco products , your premium can be increased up to 50 % as well . All of the plans offer good coverage . A silver or gold plan are your middle of the road type of plans because they provide strong coverage at an affordable price . I always recommend consulting with an experienced health insurance broker before you apply for anything . We can help you determine the plan that 's going to be most suitable for your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . | Illegal immigrants may not be the issue here . The issue is more likely life insurance on foreign nationals , which in some circumstances can be achieved . The country of the foreign national is a critical component to consider as each life insurance company has differing rules of engagement with each country . |
Why should I buy insurance from an agent rather than directly from the insurance company? | It is my opinion that the agent plays a more important role than the company . The agent is the one who will advise you on setting limits . When you have a claim those limits will determine how much of the claim will be paid by the insurance company . The advice of an agent is very important . | Medicare Part B covers certain doctor 's services , outpatient care , medical supplies including medical equipment , some preventative services such as flu shots , ambulance , mental health , and limited outpatient prescription drugs . There is a co-pay required for benefits received under Medicare Part B. Medicare supplement plans can cover the co-pay and pay for things that Medicare Part A and B do not cover . |
Why should I buy insurance from an agent rather than directly from the insurance company? | The simply answer is that an experienced independent insurance broker works for you and your interests for free . We have access to multiple carriers and can shop unbiased for your best option to meet your unique needs . If you purchase direct from an insurance company , you get one best option and chances are not your best option . The companies you are familiar with advertise and market heavily . That cost is passed on to you as a consumer . Brokers have access to companies you are not familiar with who do not have large marketing budgets and ultimately have more affordable premiums for the same coverage . | Bank Owned Life Insurance or BOLI is a form of Key Man life insurance . It is implemented and owned by the financial institution that it protects . BOLI policies are written on the lives of employees and the beneficiary is the financial institution , which also pays the premiums . Only financial institutions such as banks , brokerage firms , mortgage lenders , credit unions etc , offer bank-owned life insurance . |
Why should I buy insurance from an agent rather than directly from the insurance company? | This is an outstanding question ! It goes to the heart of how best to protect your family , and sort through all of the choices out there . It can be scary trying to figure out who has the ` best deal ' and since most people do n't understand a lot about insurance , how not to get taken . I think it is fair to say also that people do n't have a high opinion of insurance to begin with , so agents are n't seemingly much better . So why not just choose a policy from an on-line company or name brand company ? Here 's what I 'd say to you . I have always done business as much by my feel for the person as by their product . If my server does n't care about me or my meal , I do n't go back to the restaurant , or I only order carryout from them . If a bagger at the grocery store just throws my groceries haphazardly into the bags , I 'll look for a different line every time . I want to know that the person I 'm dealing with cares about me , and my business . I also want to know that I have some flexibility - if they 're the only bagger or server , I wo n't go back to those places . An independent agent can offer more options than a name brand office agent would . The name brand can only offer that companies policies , and prices . If their policy is the best one , and I feel the agent truly cares about me and my needs , I 'll buy from them . Chances are though , I 've met with at least one other independent agent -LRB- one not tied to a single brand name - I myself work with several -RRB- to shop prices and coverage before deciding . Again , how they presented themselves to me as they worked for my business was as much a consideration for me as the policy details . If I did n't feel like they cared about anything but the sale , I 'd leave , and thank them for their time . When the time comes that I need help -LRB- and it inevitably does -RRB- I want someone who cares and jumps to help , not someone who has to hunt to figure out who I am . i guess for me , I want a relationship with my business people , -LRB- and my clients -RRB- not just a transaction . I hope that helps you , and I thank you for asking ! | Accidental death and dismemberment is conditional coverage . In other words in order to pay out , things have to happen a certain way . First , death from natural causes do not cause payout . Second , death from an accident has to occur within a certain time window . A person injured in a car accident holds on for 91 days before passing . Unfortunately , the policy died the day before as it had a 90 window for payment occur . The reason AD&D is inexpensive to purchase is the probability of payout is low . Regular life insurance pay upon death by accident or natural causes . |
Why should I buy insurance from an agent rather than directly from the insurance company? | If a particular product that you need is offered by both direct and agency channels , you certainly are free to choose . However , and of course I am a bit biased because I am a Lisenced Insurance Professional who has served his clients and community for 30 years , it is my opinion that taking advantage of the professional services , advice and counsel offered by a local agent adds value and better protects you and your famil from dangerous gaps in coverage . | How can one `` cash in '' a life insurance policy depends on who you are in relation to the policy . If you are the Owner of the policy you can contact the issuing company and request assistance in surrendering the policy - that is if you want to terminate the policy and collect whatever cash value it might have . So it must have accumulated cash value enough to offset the surrender charges or there will be nothing to `` cash in '' on . Another option if you are the Owner is to take a policy loan or a partial surrender of the amount of cash value the policy has accumulated . This you can do without terminating the policy . If you are the Beneficiary , the Insured must have died in order for you to `` cash in '' . To do that you will need to produce the death certificate and present it to the insurance company along with proof that you are indeed the Beneficiary . Payment of the death benefit is the longest process of the options listed above . Taking a policy loan is the fastest way to get cash from your policy . And a total surrender will usually take just a little longer than a policy loan . |
Why should I buy insurance from an agent rather than directly from the insurance company? | With many companies , an agent is required before they will take your application . And many people get declined , get a policy they did not understand , or pay more than they need to pay when they decide to apply on their own . It does not cost any more premium to use an agent , and the services an agent provides can be very valuable . There is one more reason to use an agent to apply for a policy . When an agent points you to the most affordable life insurance for your health and age , your agent will not make any income from that advice unless you apply through him/her . Obviously , agents can not make a living just giving out free advice . And again , it costs no more for you to apply through the agent - in fact , it could save you a lot of time , money , and frustration to let your agent guide you through the application process . Thank you for asking - that was a great question . | The premium for a renters policy has two basic elements . The first is the property to be covered -LRB- amount , and location . -RRB- The second is liability . The liability section could be the most critical as it protects you from the greatest threat , lawsuit . Inventory your personal property and insure for the cost of replacing that . Determine how much liability insurance you need . Your agent should be a great help here . You will probably be pleasantly surprised by the cost of the policy . |
Why should I buy insurance from an agent rather than directly from the insurance company? | When you buy from a company you 'll get acceptable advice , I have little doubt . What you wo n't likely get is advice from someone who knows where you live on a personal basis . You 'll also probably never get to speak to the same person twice because service by the company is n't assigned to one person but a phone boiler room full of inbound call clerks . You 're not likely to get advice that is based upon actual experience but is learned from the sterile depictions in a text book . In a nutshell , it is hard to make a call center accountable when something goes wrong with your coverage . On the other hand , I learn to help you avoid problems when I also get to experience the problems our customers encounter . In effect you get the collective experience of 1000 's of my customers . Plus , no phone clerk has the incentive I have to help you get insurance right ! We 're certainly not perfect but an agent might be the best thing that comes with a policy . By the way , the Ohio Dept of Insurance has just come out publicly with a recommendation to buy insurance from an agent . I happen to agree . | Theft is generally covered under your auto policy . There may be some occasions where a vehicle is considered personal property under your homeowners but this is rare . If you think there are special circumstances then it is best to check with your agent but as a rule the answer to your question is no . |
Why should I buy insurance from an agent rather than directly from the insurance company? | I always recommend using an independent insurance agent who can compare multiple insurance companies instead of just one carrier . Agents who work for a specific carrier are known as `` captive agents '' and must apply through that carrier before they can look at other companies -LRB- and usually they can only look at other carriers if they were declined by the first company -RRB- . There 's no extra cost to using an independent agent versus calling the carrier directly and you get all of the added services at no charge -LRB- instead of getting a random customer service representative to try to answer your questions . Through an agent , you can speak with the same person for all your questions and get any input that you need . Applying through an agent can save you tons of time , aggravation , and frustration through the application process - and of course , they can save you a lot of money by determining for you which insurance company may offer the coverage at the lowest possible cost . Often times when you try to ask 10 different people for help , you can have too much information thrown at you and the process can become confusing . When you 're looking for coverage , stick with an agent who you feel is knowledgeable , experienced , and will help you determine how much coverage is suitable to your needs and which carrier will offer it at the lowest possible cost based on your medical history . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much . | I view indexed universal life insurance as more of a savings vehicle than an investment . Investments are subject to market risk and can lose money if the market -LRB- stock , real estate , bonds , etc. -RRB- declines . Indexed universal life offers protection from downside risk and upside potential for growth . This means that if your policy is indexed to the S & P , your money is not invested in the S & P , but the S & P is only used as a gauge of how much interest to credit to your policy . If the S & P increases 10 % for the year , then 10 % interest is credited to your policy . If the S & P goes down 20 % for the year , then you get a 0 % - 2 % return for the year -LRB- depending on your policy specifics -RRB- . Insurance charges are subtracted from your policy 's cash value , so even if you get a 0 % interest credit for the year , your cash value may decline slightly . However , depending on your age and health , the fees may be less in your life insurance policy than many other financial vehicles . The benefits of life insurance as a cash accumulation vehicles far outweigh other financial vehicles . In summary , if you are looking for a `` safe '' place to grow your money with no market risk , protection from taxes , and accessibility to your money , Indexed Universal Life Insurance is a great option to learn about . |
Why should I buy insurance from an agent rather than directly from the insurance company? | First of all , an experienced agent will be able to ask the right questions to make sure the client is getting the right face amount of insurance instead of just guessing the right amount . Secondly , by having a trusted agent will make any future changes or additions to a financial plan to keep the client on track . The career agent is interested in the client 's needs and does not look at the client as just a sale . Ronald G Hinch , www.hinchfinancialgroup.com , 843450-9879 . | Most life insurance policies with a face amount over $ 100,000 require a physical , while most policies with a face amount under $ 25,000 do not require a physical . However , there are exceptions to both , and often you have a choice whether or not you want to get a policy that requires a physical exam . |
How Does Borrowing Against Your Life Insurance Work? | For permanent life insurance , the policy owner has the right to borrow from the cash value subject to the terms in the contract . So , the owner can borrow life insurance cash values , even prior to age 59-1/2 , without a tax penalty as it is not a distribution . Loans will reduce the policys death benefit and cash value available for use . But use care here since if the policy lapses or is surrendered in full while there is an outstanding loan the amount of the outstanding loan is taxable to the extent that the policy 's gross cash value exceeds the policy owner 's basis -LRB- sum of premiums paid -RRB- in the contract . Policies that have a cash surrender value and have been in force for awhile have a maximum loanable value of close to the cash surrender value . Your annual statement may also have the value for loan purposes . Policies vary widely and there are many factors to consider . The best way to get a current value is to contact your life insurance professional or the insurance company directly . | 401K plans have been one of the primary ways people who work save for retirement . It is what is known as a qualified plan meaning that it is subject to government enforced rules and regulations regarding how money goes into it , how much can go in , how it comes out and how much at one time . Employers offer these plans and agree to put in a certain amount -LRB- in some cases , not all -RRB- so that an employee can grow their nest egg while working . The funds grow tax deferred -LRB- no taxes due till funds are distributed to employee -RRB- , typically have options as to where you will invest them and traditionally accumulate over time . You can ask your employer about their 401K plan if they offer one . You usually have to work with them for a few months or a year before you beome eligible to join . |
How Does Borrowing Against Your Life Insurance Work? | Borrowing money from a permanent cash value life insurance policy has a few considerations : the loan interest rate , the surrender charges and the performance of the crediting method . Policy loan costs will vary from policy to policy , i.e. zero net loans , wash loans , spread loans , direct recognition loans and participating loans . Surrender charges in the early years can be punitive resulting in reduced access to the account value . The performance of the crediting method also impacts the policy : interest rate crediting , indexed crediting and separate sub account crediting or debiting , i.e. you could lose money . | When renting a home , the home owner needs to have Landlords Insurance to provide coverage for the Dwelling and Premises Liability . The renter needs to buy Renters Insurance to provide coverage for Personal Property & Family Liability . Although both the Landlords policy and the Renters policy are not required by law , it is advisable to be covered in the event of a claim . Many large property management companies and property owners do require tenants to purchase Renters Insurance as a condition to the Rental Agreement ; the reason for this is to avoid lengthy and cumbersome legal issues in the event of a claim attributable to negligence . For a small premium the Renters Insurance provides the tenant with Family Liability coverage which will offer defense and payout damages up to the policy limit . Liability coverage will offer protection for negligence that may lead to a claim -LRB- i.e. accidental fire , smoke , water damage etc. . . -RRB- |
How Much Is Gerber Life Insurance? | Gerber Life Insurance Company carries a number of different types of life insurance plans . Therefore , the cost will vary depending on the type of policy , as well as the age of the applicant . You can go to the Gerber Life website to get a quote for the plan that you choose . Keep in mind that there are other No Exam life insurance policies that can be compared to Gerber 's prices to be sure that you are getting the best deal . | Life insurance death benefits pass from your companyto your beneficiary . If you owe money to someone they can only take action if you withdraw money from the policy . The death benefit is someone elses property . It could be that your beneficiarys creditor might take action upon their receipt of the proceeds . |
What Are The Best Life Insurance Policies? | That is a great question ! The answer though , really depends upon what you want the policy to do for you . If you need it to cover a debt , like a mortgage , or college loans , or to increase your coverage while your kids are small , then maybe a term policy is the way to go . If you want to be certain that you are covered no matter how long you live , or think that one day you might need to access some quick , no questions asked cash , then maybe a whole life policy would be better . I 'd really need to talk to you and get more information before I could tell you for certain . I do appreciate you asking though ! | Health insurance can start immediately , depending on the type of policy . I 'll answer your question quickly and accurately . Short-term plans can be approved within 24 hours ... or instantly , depending n the carrier . They are not considered Obamacare plans . Otherwise , when you apply for Exchange plans under Open Enrollment , the effective date depends upon when you apply . Of course , getting the lowest rate is , of course , important . LIVE answer provided by : Ed Harris - Premier Health Insurance Broker for 33 years and owner of several top-rated websites . |
What Are The Best Life Insurance Policies? | The best life insurance policy is the one that is in force and will pay the death benefit on the day that you die . You will never get a better deal than that . If you know what day that will be we might be able to save a few dollars by selecting a policy that would expire the following day but not many of us have that prerogative . | It is extremely difficult to contest a life insurance beneficiary . A life insurance policy is not subject to probate . That means that there isnt a court supervising the distribution of proceeds . However , a probate court could be petitioned , If the owner of the policy was mentally incapacitated when the beneficiary was designated . Some courts might hear a petition based upon remarriage , adoption or other major life changing events not being recognized by the owner . |
What Are The Best Life Insurance Policies? | The best life insurance policies are the ones that work best for peoples ' needs . All life insurance policies pay upon death , but there are many differences beyond that . Some are designed to accumulate cash value that you can use for expenses later in life , or that will pay your premiums later . These are permanent policies that , if properly managed , will pay out when you die , or at age 100 , whichever comes first . Some are designed to simply pay if you die within a certain number of years . They have no cash value and if you pass away after the term ends , you are not covered . Some are in between . They are n't designed to earn lots of cash value , but they are set up so that they will not end before death , even if you would live to be over 100 years old . If you want a policy to pay for your funeral expenses , the best policy for you is probably one of the permanent policies . If you want a policy that to cover your mortgage that should be paid off in 15 years , you may find 15 year term life insurance to be your best choice . If you have a combination of needs , you can even get a combination of policies . A good life insurance agent can sort through the options to find the life insurance that is best for you . | 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 . |
Does Renters Insurance Cover Tornado Damage? | Damage caused to your personal belongings in your place of residence covered by renters insurance caused by a tornado typically would be covered less your deductible up to the policy limits . To know what coverage is offered by your policy and what exclusions there may be , please read your policy completely or contact your local agent to have them go over the policy with you . | This is a good Question . Medicare was designed for individuals 65 and older or individuals under 65 with certain disabilities . Made up of part a and b. Medicaid is income based , also known as public aid and is more intended for people with very low income . Medicaid pays for most medical services . |
Does Renters Insurance Cover Tornado Damage? | Great question ! I sincerely hope that you are n't asking because you have had that happen to you . In most cases the damage should be covered , but you will want to ensure that it is by reading the exclusions , but again , it usually is covered . If I can help in any way , please contact me . Thanks for asking ! | People that are classified as Type 1 Diabetics can get life insurance . There are many factors that contribute to qualifying for coverage . There are life insurances companies that are also more benevolent in their underwriting protocols and premium pricing than the standard market . Health history and current medical conditional are critical components to an underwriting offer . |
Does Renters Insurance Cover Tornado Damage? | In the event of a tornado your renters insurance should typically provide coverage for your personal items less your deductible . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . | Every insurance company and policy is different but in general if you have a vehicle that sustains a total loss , the insurance company will issue you a check for the actual cash value -LRB- ACV -RRB- of the vehicle minus your deductible . What is ACV and how does the insurance company calculate this amount ? They will take the amount to replace your vehicle and depreciate that amount based on age and condition . Basically , it 's the amount that you could get if you sold the vehicle on your own . Here are some common sites that insurance companies will use to calculate the value : WEBSITELINK WEBSITELINK You might also want to check out Ebay because you can look at what similar vehicles sold for in your area . And this should give you a real good estimate for the amount you should expect to receive from the insurance company . And in the end , the more homework you do , the more money you can save . |
My daughter was diagnosed with scoliosis and I have Aflac insurance. Can I receive benefits? | The first answer would be `` no '' as these policies are for the named insured . That said , without seeing what you 've purchased from Aflac , I ca n't for certain say `` no '' . It will depend on what policies you have taken out and what triggers a payout . If you 've insured your daughter under any policy , it would n't hurt to call the carrier and ask the question . | Backdating an effective date means coverage was effective from that date forward and as a common practice , it is prohibited by carriers . There are controlled situations where they may permit backdating . One is where there is a `` statement of no loss '' but it is risky business for the carrier if you are a new customer . We accept a `` statement of no loss '' when reinstating coverage but only with the permission of the carrier and the form is their requirement not ours . If an agency is willing to backdate without the carrier he/she has probably violated carrier rules and/or state law . |
My daughter was diagnosed with scoliosis and I have Aflac insurance. Can I receive benefits? | I will assume that your daughter is covered as a dependent under your AFLAC policy . AFLAC is not major medical health insurance , it is a supplement to major medical insurance designed to pay directly to the policyholder as opposed to a health care provider . AFLAC 's policies are designed to deal with specific types of situations such as a critical illness -LRB- which they spell out specifically what conditions qualify as a critical illness -RRB- , cancer , short term disability , hospital indemnity plans , accidents and life insurance . Other than the slight chance of a short term disability policy coming into play or some aspects of a hospital indemnity policy if your daughter was covered and met the contract terms for being hospitalized and/or disabled , I do not believe there will be circumstances where an AFLAC policy would pay out for a person diagnosed with Scoliosis . | You can use your life insurance for the cash value when there is enough cash value accumulated to borrow from . Unless you paid in a large lump sum at the start , it usually takes some years to accumulate a substantial amount of cash value . If you are not using the policy for cash value , then the face amount is paid upon death . |
My Husband Just Broke His Arm, Can I Get Insurance To Cover It? | Is this a serious question ? Really ? Insurance -LRB- in general -RRB- is designed to protect you and `` put you back in relatively the same place you were BEFORE an event happened -RRB- for UNSEEN incidents . Since the arm is already broken , the event has already taken place ... so , you CAN NOT purchase insurance that would cover the broken arm . Put another way ... would you want to insure your house if the kitchen was on fire ? Of course not . What if a tornado was coming and on the ground ... would you want to insure the mobilehome ? You can buy insurance now to protect his OTHER arm , but , I 'm afraid this one is on you . | Since you already did the right thing and notified your insurance company , my advice is to let them handle it . I am not exactly sure what the other party is referring to when they talk about `` points '' . Generally this term is used when one is talking about one 's DMV driving record , not insurance . |
My Husband Just Broke His Arm, Can I Get Insurance To Cover It? | Short answer ? no . But because we need 50 words to answer questions , this should be used to discuss what happens if this does occur and it does all over the country every day . A hospital will treat a broken arm , but it will also `` bill '' for a broken arm so it becomes a matter if the person can afford to pay the cost of the service . While we read about hospitals `` writing off '' care every day , understand that if you have the ability to pay , you will , or you will be subject to any other item you fail to pay on . This means collections and garnishment of wages is a real possibility . If you are in this situation , talk to the hospital billing department and see what they will work with you on . Many will set up billing plans and work with you , but you never know . Insurance takes care of the unknown , that is the whole idea behind it . While rolling the dice and going without may seem profitable , it just takes one situation to wipe out any savings and possibly take everything . | The cash surrender value of a life insurance policy is the value you would receive before any taxes if you cashed in or surrendered the policy . Typically cash surrender value is generated in whole life and universal life policies . A build up of a cash reserve is necessary for level premium insurance to work . In Canada , you can attract taxation if 1 . You surrender a policy and the cash level exceeds the adjusted cost base of the policy , 2 . Borrow and the amount borrowed exceeds the adjustment cost base of the policy 3 . Transfer ownership -LRB- in most cases -RRB- Alternatively , if you wanted to access the cash value you could borrow for a bank using the policy as collateral . I suggest you contact a local insurance broker for assistance . 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 . |
What Can I Do If I Am Turned Down For Life Insurance? | If you are turned down for life insurance , a good first step is to find out the reason for the decline . That will help you know if it is something that can be appealed or corrected , or give you solid information to take with you when looking for another policy . A good impaired risk agent can be of immense help after a decline . | The passage of the Balanced Budget Act of 1997 is when Medicare Part + Choice , or Medicare Part C , was created . At this time , the choice was given to purchase Medicare Part C -LRB- Advantage Plans -RRB- in addition to traditional Part A and B. Medicare Part C is offered and administered through private insurance companies and and regulated by Medicare . |
What Can I Do If I Am Turned Down For Life Insurance? | The life insurance industry is a huge segment of the financial sector with hundreds of companies that compete for business . A declination from one carrier may not be a declination for another . After a declination It 's prudent to shop for life insurance companies that are known impaired risk carriers . And keep in mind that you can always shop simplified or guaranteed issue if conventional underwriting fails . | You can own a home without having homeowners insurance but more than likely you will need to maintain the coverage as a requirement of your mortgage contract . Most mortgage companies require `` Hazard Insurance '' to protect their investment in your home . If you fail to maintain `` Hazard Insurance '' , or commonly known as homeowners insurance , the mortgage company will put `` forced insurance '' on your home . The forced insurance policy will be much more expensive and will have inferior coverage . Some are even considered a `` single interest '' policy . This means that the mortgage company is the only beneficiary under the policy -LRB- you get nothing -RRB- . We do not recommend owning a home without homeowners insurance . For many people their home is their largest asset and you should protect it . |
How To Get Health Insurance To Pay For Rhinoplasty? | Rhinoplasty , or a `` nose job '' as most people know it , is standardly classified as a cosmetic procedure . Just because you want to look more like Paris Hilton or Brad Pitt is not a medical problem -LRB- it may be a sign you have some other problem but not a medical one -RRB- . Cosmetic surgical procedures are rarely covered by health insurance plans and whenthey areit is generally for a reconstructive purpose after a illness or injury . Patients who go to their doctor and present themselves with a serious breathing problem associated with their nasal cavities and who get a determination of medical necessity may get approval from their health insurance carrier for surgery to correct the breathing problem . And , as a side effect of this surgical procedure they may get what amounts to a nose job . People and some physicians do game the system with this approach and you should anticipate having to clear a pretty high bar for your health insurance carrier to approve this procedure . | Scoliosis is an abnormal curvature of the spine . There are many ways to treat and manage scoliosis including but not limited to braces , physical therapy , chiropractic treatment , osteopathic treatment , casting and as a last resort , surgery . If the condition can not be effectively treated with less invasive treatment , your health insurance carrier should cover surgical intervention . |
Who Sells The Cheapest Term Life Insurance? | This is a very subjective question . There is no one company who has the most affordable rates . There are just too many factors involved to narrow it to one company . Depending on policy type , age , location , build , health status , lifestyle , face amount and terms it can vary between husband , wife and child . I recommend using an experienced independent broker to professionally shop the market to find you the best rate for your unique situation . | Some folks purchase temporary life insurance rather than whole life , either because they have a very temporary need , or feel they do not want to use life insurance as a financial tool . When they do that , they frequently purchase a policy that will last only for ten years , if they pay the premium each year , and do not want it to change . This is called ten year level term . After ten years , if they are alive , they will probably need to start over again and get level term , now at a higher rate , or whole life . With the product I have , New York Life offers a ten year level term , but also offers an annually renewal policy , which works out about the same over ten years . The hope is that and the expectation should be , that the policy holder decides during those ten years or earlier , to convert their term policy to a permanent whole life policy , which builds up cash value and can be borrowed against . Let 's talk . Gary Lane , Registered Representative , New York Life . 949 797 2424 . Thank you . |
Who Sells The Cheapest Term Life Insurance? | The real question is who can give you the lowest rate for the highest coverage , right ? Our brokerage provides Living Benefits , which is something new to the industry . Life insurance can now be bought with no need to die to get paid ! Life insurance can cover disability , chronic care , chronic illness , terminal illness . Through PFA and written by National Life Group and Life Insurance of the Southwest , the rates are lower and the coverage includes many other benefits at no extra charge . Love to help you . Thank you . GARY LANE . | Primarily drugs and nicotine . They will also screen for any other abnormalities that could affect your health depending on the amount of the policy . Insurance companies do this to insure that they rate the policy properly . Life insurance rates are based on average mortality , in other words , your expected life span . Since tobacco and drug use have an adverse effect on your life span , companies charge an extra premium to compensate . |
Who Sells The Cheapest Term Life Insurance? | If you have excellent health , you will get the cheapest term life insurance by using a company who prides themselves on having the best `` preferred '' rates . If you have poor health , your best rate may not be term at all , as not many companies offer term life insurance to those with poor health . I use the above examples to show how there is no one life insurance company that offers the cheapest rates for everyone . Contacting a broker will help you find the most affordable rate for you . | The only people who need renters insurance are people with a liability exposure that they can not handle or own property they can not afford to replace . The exception would be if the landlord of the unit being rented required that the tenant have a renters policy as a condition for renting the unit . |
How Does A Car Insurance Quote Work? | In California the auto quote is based on the declarations of the car owner . If the underwriter determines that the drivers record doesnt match the declarations , or that the car doesnt match the declarations they either adjust the premium or decline the car . The presence of a quote doesnt obligate the insurance company to provide the coverage at the price quoted . It is an indication based upon the declarations given . | The first thing you need to do is to refer to the bylaws of your condominiumassociation . These should stipulate the requirements of coverage for unit owners . It will also give you an idea of what is and is not covered by the master policy that the association carries -LRB- assuming that they have a master policy , as not all do . -RRB- Next , you would need to find an agent / broker that can place an HO-6 -LRB- Homeowner Insurance specifically designed for condominiums -RRB- for you . Also , if you have a mortgage on the unit , your lender may require you to carry coverage of certain limit to protect their interest , or they may force place coverage on your loan -LRB- this is usually expensive and only protects their loan amount and not your liability or contents . -RRB- Make sure you consider loss assessment coverage for any special assessments that may arise from the condominium association . Hope this helps . |
When To Use Irrevocable Life Insurance Trust? | An Irrevocable Life Insurance Trust takes the value of the policy out of the estate of the policy owner , and makes the trust the owner of the policy . So you may want to use an ILIT when it is so important to you to protect the value of that policy , that you are willing to turn it over to someone else to control . Some times when this might be appropriate are when your estate goes over the exempted limit for inheritance or estate taxes when the life insurance proceeds are added into the value of your estate , or if you want to protect your policy from paying nursing home costs -LRB- but the ILIT would have to be set up years ahead of that event -RRB- . | That is a question that should be discussed with your Insurance Professional so that coverage can be customized to meet your specific needs . In general , however , Physical Damage coverage , which includes both Comprehensive and Collision should be in place for a newer car . If your company offers optional coverage extensionse such as the guaranteed use of original market parts , new car replacement or GAP protection for leased cars , these might be worth considering . Liability protection is the next element . This is coverage that protects you and your financial assets in the event that you are held legally responsible for damage to someone else 's property or bodily injury . Most states require a meinmum amount of liability coverage , but it is important to consider what your financial exposure actually is and then decide onteh amount of protection that is right for you . |
When To Use Irrevocable Life Insurance Trust? | 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- . | Most people will go on Medicare when they turn age 65 . Medicare Part A which covers hospital care should come automatically . Then you need to decide if you need Medicare Part B . If you are retired then you need Medicare Part B which covers doctors and tests . If you are still working then check with your benefits department to see if the company offers a plan or if you should get Part B and a Medicare Supplement Plan . Medicare Part A & B only covers about 80 % of the cost of care so it 's a good idea to look at getting a Medicare Supplement Plan to cover the difference . An independent agent that specializes in Medicare can be a big help in understanding your options and reviewing the plans with you . |
How Much Is Car Insurance For A 16 Year Old In Florida? | Like other States , Florida auto insurance pricing depends on many factors , including coverage limits ... which is a major item to consider . Too many people buy minimum or low limits of liability coverage which really covers a policyholder for very little , in the event of an even a two-car at-fault accident . In the first year of driving , for a new driver ... aged sixteen or seventeen , you will find that statistically , they will be involved in an at-fault accident . Though cost is obviously a huge factor in many families , the exposure warrants a hard look of consideration for purchasing relatively high limits of liability insurance . Call several independent agencies in your area for more specifics and some pricing quotes at different coverage limit levels . They will help you decide . Keep in mind your exposure . If someone gets seriously hurt as a result of an at-fault accident , should the insurance limits of liability be exceeded , you could be paying out-of-pocket for the rest of loss . It has ruined people financially . Answered on October 11 , 2013 WEBSITELINK WEBSITELINK | I disagree with my colleague some this.The claims transaction should be handled on the merits of the claim , not whether you continue coverage or not . . Many states have Fair Claims Settlement statues that have to be complied with because they are the law . Many states require that you are able to receive prorated cancellation . In the event you owe more to the company then you owe additional premium . Or , they have been paid in advance and owe you a return premium for the unused portion of your premium . Many folks switch insurers because the service they expected has not happened as it should have . This is a very common event . After all the claim disposition of the claim is what you are paying your premiums for . Lastly , many Insurance departments take an inventory of the number of complaints that each insurer has during some period usually the calendar year . Go to your insurance departments website and you should be able to discern whose reputation is great and those who are not . |
Should I Buy Long Term Care Insurance In This Economy? | Should you buy long-term care insurance in this economy . The most important factor is `` your '' economy . That is , if your business is insulated from some of the recent economic problems we have been facing , it should not have as big of an impact on your decision compared to most others . However , if you are concerned about your income in the next 5-15 years , this should be taken into account . Of course , you can always start with a lower amount of coverage to keep premiums lower . | Unfortunately there is n't a one-size-fits-all answer to this . Individual insurance rates vary widely due to many factors including age , height/weight , current health status , tobacco usage . They also vary widely between insurance carriers and states . Insurance rates are set after approval by your state department of insurance . Insurance carriers must get approval for the rates and rate increases that they propose . After they are set , there is n't a way to get cheaper rates . This is important to understand because health insurance professionals can provide you with valuable information at no additional cost . The best source of information is through a local health insurance professional that contracts with multiple insurance carriers . |
Is Health Insurance Exempt From Social Security Tax? | Social security taxes are collected through payroll deductions and appear on your pay stub as FICA . Both employees and employers pay the tax based upon a percentage of income . The percentages change as income increases . Group health insurance premiums funded by employers do not count as income , and are not subject to FICA taxation . Employees typically elect to pay their portion of healthcare premiums using pretax elections , which reduces reported income and the amount of FICA taxes paid . | When the premium goes up at the end of a Term life insurance policy is a good time to stop paying the premium . From that point on it will continue to go up in price annually , so unless the Insured person is very ill and does not plan on surviving for many more years , it will become cost prohibitive to keep paying that premium . It would be better to convert the Term policy to a permanent one before the premium goes up , because the conversion is not possible after that . If you are going to pay a higher premium , why not pay it for a permanent policy via a conversion , rather than one that will go up each year . |
Which Is The Best Life Insurance To Have? | The best life insurance policy to have or to purchase is the policy that meets the needs of your specific goals at the best price in the market . I highly recommend using an experienced independent life insurance broker that represents more than 10 carriers to professionally shop the market to find that best plan at your best rate . | Setting up a personal retirement plan first starts with your frame of mind . Are you committed to following a plan , as close as possible , to get to your end goal ? If you answer yes , then you are ready to move forward . First , grab all your different accounts which you have monies in . This will include your checking & saving , and money market accounts and retirement accounts including IRA 's & your 401 -LRB- k -RRB- if you have it through your employment . If you do n't have these type of accounts , it is ok . You just need to know where you are to start . The idea is to figure out how much you can start to realistically set aside every month or year . Then start to do this and stick with it . Once you get this habit established , you will need to know how much you need to retire . This number can be humbling however do not let it get you down . You have to have a goal to get to . At this point , I would recommend sitting down with a professional who can help you make some wise choices as there are several vehicles available but are not all created the same . Working with someone can and will help you to stay accountable to yourself striving to reach your end goal . Reach out to me if you have any additional questions . |
Which Is The Best Life Insurance To Have? | The best life insurance policy is the one that is in force on the day that you die . If it expired the day before it was an expensive mistake . The cheapest is probably the policy scheduled to expire the day after you die . Since few of us know when we will die , we probably need to plan to have coverage over the time frame that covers our obligations . Many of those obligations might be on-going in which case permanent insurance is the best policy . | Medicare Part B does not cover the insulin prescription itself - that can be covered by prescription drug coverage under a stand-alone Part D plan . An exception to this to have insulin covered under Part B is when insulin is administered via a medically necessary insulin pump - under this scenario , an external insulin pump and the insulin may be covered as durable medical equipment . Part B can cover certain diabetic test supplies as durable medical equipment -LRB- DMEs -RRB- such as glucose testing monitors , test strips , lancet devices , and lancets . Medicare would pay for 80 % of Part B covered expenses - you would be responsible for the other 20 % . A Medigap plan can cover the other 20 % of expenses for you . If you 're looking for a Medigap plan or are interested in seeing if a lower rate is available compared to your existing plan -LRB- Medigap plans are standardized -RRB- , please feel free to contact me for help . Thanks very much . |
How Much Does Health Insurance Cost At Age 62? | It varies from person to person . Your age , where you live , if you use tobacco products , and if you qualify for a subsidy to reduce your premium will determine how much a good policy is going to cost . Under the Affordable Care Act , you have the options for bronze , silver , gold , and platinum level plans -LRB- as you go up in metal , the price goes up , but provides better benefits -RRB- - some areas also have a catastrophic plan available . In addition , your age is a big factor as well . The younger you are , the cheaper your premium - the older you are , the higher your premium . Also , if you use tobacco products , your premium can be increased up to 50 % as well . All of the plans offer good coverage . A silver or gold plan are your middle of the road type of plans because they provide strong coverage at an affordable price . I always recommend consulting with an experienced health insurance broker before you apply for anything . We can help you determine the plan that 's going to be most suitable for your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . | Unless you chose to opt out when you were first eligible , you will be automatically enrolled in Part B . You will receive information from Medicare and given a choice of opting out . Do not opt out unless you are covered under a group plan . When you receive your card it should have both part A and part B listed . If it does not then call 1-800-Medicare or your local Social Security office and they will make suure you are enrolled . |
How Much Does Health Insurance Cost At Age 62? | There is no single answer to your question . Health insurance rates will vary depending upon your state of residence , the health insurance carrier you are looking at , the health insurance plan you are considering and quite probably your tobacco use status . With those things said , for a person at age 62 enrolling in individual health insurance you should not be surprised to see rates in the $ 400 to $ 800 per month range as just general ballpark estimates . | Life insurance is offered for temporary and permanent protection against the economic liabilities and future obligations of the policy insured : term and permanent life insurance . Term life insurance can generally be purchased in five year increments like 5 , 10 , 15 , 20 & 30 years . Most permanent life insurance can be purchased to cover the inured to age 121 . Permanent life insurance has five basic product lines : participating whole life , guaranteed universal life , current assumption universal life , indexed universal life and variable universal life . You need to determine whether your financial liabilities and future obligations are temporary or permanent . You 'll need to establish whether permanent life insurance is for protection or tax advantaged income . A personal financial profile should assess your risk tolerance , money goals and your life expectancy . This will aid you in selecting the right product for your financial needs . |
Can I Apply For Life Insurance While Pregnant? | You can still get Life Insurance while pregnant . Talk to your agent about how to go about doing so . They will know what carriers might be more open to writing a policy . Other factors will play like health history , height and weight , and is this a high risk pregnancy . | This is a major reason people choose Whole Life over Term . You can not borrow against Term Life Insurance . It builds no cash value and ends at the end of the stated term . With Whole Life , you build cash value , which accumulates over time and never changes its premium . If you need the cash , for any reason , you can borrow against it , with a small interest charge , and , if you choose , never pay it back . The amount then is taken from the Death Benefit . There is no income tax payable for the money you take out of your policy for this loan . Thank you . GARY LANE . |
Can I Apply For Life Insurance While Pregnant? | Yes , you can apply for life insurance while pregnant . Some companies will restrict issuing life insurance to the first one or two trimesters , but it can be purchased in all three trimesters as long as weight and other health factors meet the qualifications to be approved for a policy . | Only individuals who are securities licensed can provide an answer to this question due to regulations surrounding variable products . I would recommend contacting an agent who is securities licensed to get any needed input regarding variable universal life -LRB- VUL -RRB- - they can compare it other insurance programs such as whole life and guaranteed universal life . |
What Is Auto Insurance Comprehensive Coverage? | Comprehensive otherwise known as Other Than Collision : This optional coverage is selected by the insured and is indicated on the Declarations Page . It pays the insured for any direct loss of or damage to the auto if the loss is caused by : a. Missiles or Falling Objects b. Fire c. Theft or Larceny d. Explosion or Earthquake e. Windstorm f. Hail , Water or Flood g. Malicious Mischief or Vandalism h. Riot or Civil Commotion i. Contact with Bird or Animal j. Breakage of Glass | The face value of a life insurance policy is the death benefit amount at issue and with certain life insurance policies the face amount can growth either by the increasing death benefit option or the cash values increasing to such as extent that the Defra corridor pushes up the face amount . |