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What Information Do I Need For An Auto Insurance Quote? | You will need to provide the following information to receive an accurate auto quote : dates of birth of all drivers to be covered VIN numbers of vehicles to be covered Social Security number of primary insured and possibly other insureds amount of coverage you are seeking garaging address of vehicles milage of each driver to work and type of use for vehicle Motor vehicle history for all drivers to be covered | The factors that determine whether Medicare is primary or secondary are involved . E.g. For a business that has over 20 employees eligible for health insurance , Medicare is usually primary for those age 65 and older . If the business has under 20 employees , the employer 's plan is primary . You can go to this website to find out if Medicare is primary or secondary payer in your situation . WEBSITELINK . You could also call 1-800-MEDICARE to ask about specific situations . |
Will My Health Insurance Cover IVF? | Chances are slim . I 've been asked this question for 10 years and insurance carriers almost never cover it since it 's an elective treatment . However , some group plans will give aggressive discounts as long as the providers are in their network . Call the benefits verification hotline on the back of your insurance cards and ask the question . If your plan does cover it , take advantage of it and good luck :-RRB- Please click the `` Contact Me '' button on the left or run a personalized quote at : WEBSITELINK Also , you can call me anytime at : 561-320-2978 ... I would love to hear from you . | You can cancel at anytime . it is not the best idea to go with out insurance . If you are canceling because the car is not running or you no longer own the car and are looking for a replacement that is different . If your car is no longer working you can place just comprehensive coverage on it and no liability while it is disabled that way it has some protection on your car . But on the flip side . If you no longer own a car you can keep the insurance till you get a replacement car and be covered if you are borrowing someone 's car and they did n't pay their insurance . Also there is the option of non owned policy . Also when you start your insurance up again if you have gone more then 30 days with no coverage your rates increase for lack of proof of prior . Talk to your agent and see what works best for you . If you are canceling because of your budget talk to your agent and see what they can do to keep you covered and at a better rate . |
Why Buy Whole Life Insurance For A Child? | First , while no one likes to contemplate the passing of a young person , death has no respect for age . The cost of a funeral for an 8 year old is n't going to be any different than for an 80 year old . So , reason number 1 would be to protect you and your family from that unexpected expense . Life insurance rates are based upon life expectancy among other factors . Obviously the life expectancy for a normal child is expected to be several more decades which translates into many years for the life insurance company to invest those premium dollars before they eventually pay the death claim -LRB- assuming the policy is kept in force , sadly it 's not unusual for a child to become an adult and take over the policy and discontinue paying the premiums -RRB- . On a more positive note , a properly structured whole life insurance policy builds up cash value . The cash value accumulation of a whole life insurance policy from someone 's childhood until they reach retirement age can amount to a sizable asset depending upon the face value -LRB- death benefit amount -RRB- of the policy . In the ideal scenario you will leave your child with a paid up life insurance policy and a financial asset for their golden years . Decades from now your child probably wo n't remember many Christmas or birthday gifts they received from you but a good whole life insurance policy can truly be the gift that keeps on giving . | Not paying the premium is the most common way of making life insurance void . There is a one month grace period after the premium is due for a term policy . If not paid by the end of that month , the policy will lapse and would not pay out the death benefit if death occurred . Permanent policies can use cash value to pay the premium , but you need to set the policy up that way . Suicide will void a life insurance policy if it occurs during the first two years of the policy . So will death due to illnesses or other risk that were present and known about at the time of filling out the application , but were left out or lied about on purpose . For the policy to be void , death generally must occur within the first two years due to a cause related to those misrepresentations or omissions . |
Why Buy Whole Life Insurance For A Child? | This was once an extremely popular idea . A child can almost always qualify for life insurance , something that might not be true by occupation , avocation or health in the future . The premium will never be lower . It becomes a gift that a parent can pass to the child later in life that is often worth more than the premiums paid . It provides a death benefit in the event of premature death . Many parents prefer a limited payment whole life policy so that all the premiums are paid prior to gifting the policy to the young adult . | The cash value is the amount the insurance company would pay you today , after any surrender charges or loan payoffs , if you canceled your coverage . You can contact the servicing agent or the life insurance company direct requesting the current values of the policy . They should also be able to tell you the policy 's basis -LRB- premiums paid -RRB- . Any cash value received over basis is gain and subject to income tax . |
Why Buy Whole Life Insurance For A Child? | Why buy whole life for a child ? Well I guess I can tell you why I bought whole life for my kids . In no particular order or rank , I bought whole life because that is the cheapest if will ever be , those policies will become cornerstones of their financial lives . Much like buying a piece of property they now have something to build on . They have future guaranteed insurability with these policies as well What that means is they ca n't be told `` no '' by the insurance company , even if they are no longer insurable . Sort of like a stock option . And finally for this post if either of my kids were to die before me I would be devastated . I would be crushed as I have great kids . So insurance on them would help me get through their passing by paying bills that still need to be paid . I am planning for their future living with these policies and accepting the aspect of the possibility of their early passing and the help they would provide . I could never imagine having an argument with a spouse over what headstone to buy . Whole life on a child is an investment in their future , not just their death . | Do you really want to do business with a company you personally never heard of and have to ask about ? Or would you be safer and rather do business with a company that is America 's Oldest , Largest , and Highest Rated Life Insurer ? New York Life has been providing Life Insurance to Americans for about 160 years ! Please call me and I can answer your questions about the great advantages of New York Life Insurance . Is n't that what you want for your family ? |
Why Buy Whole Life Insurance For A Child? | Buying Whole Life Insurance for a child is first , for the obvious , to provide a death benefit in case of death . You may think this is not necessary , however from my personal experience with losing a child of 17 years , a small death benefit was great to off set the loss of income during our grieving . The second , is many parents or grandparents like to provide a `` gift of Life '' to the kids using Whole Life Insurance since it does grow cash value which can be used in the future for several expenses such as college education , helping to purchase a first home , etc. . If you have a specific question for your child or grandchild , do not hesitate to ask . There are many ways to design a plan to meet your families needs . | Life insurance is all mathematics . A senior is closer to their end of life than a young person so obviously the risk is much greater . In addition to the increased mortality in a seniors current age group there are also fewer years to collect money to pay death benefits as life expectancy is also closer . However , it is still cheaper than trying to fill the economic whole created by death and should be considered as long as companies will accept you . |
How Much Is Car Insurance For A New Female Driver? | Your going to have to contact your local independent agent to get some quotes for you . It is not going to be cheap , but if you maintain a good record when you turn 25 your premiums will change . If you decide to become insured under your parents policy have them inquire their independent insurance agent about an umbrella policy , or personal excess liabilty . They will be shocked at how cheap a $ 1 million dollar policy costs , which will help protect their home , retirement , etc. . Best of luck ! | The beneficiary is either someone to whom the insured is obligated or someone that the insured loves . The beneficiary is someone whose loss will be tempered when the insured dies . The relationship between the insured and the beneficiary is present at the time the policy starts . It isnt necessarily there at the time of death . Checking to make sure the beneficiary is correct is extremely important . It isnt unusual for ex-spouses to be the beneficiary when the insured did not intend that to be the case . |
Need Cheap Home Owners Insurance? | A home is typically the largest purchase one makes . And like most products in the marketplace , one can find a cheap home or an expensive home . The same goes for homeowners insurance . If you are trying to meet only a mortgage company 's requirement for insurance , you can go pretty cheap . If on the other hand you want an insurance company to pay for ALL the damages incurred in a claim , refurnish your home , put you up in another home while your home is being repaired , defend you in court when you have been sued , it might cost you a little more for your insurance . Your best bet to obtain the best value is talk to a professional to help evaluate your needs relative to your wants and budget . | Skin cancer screenings are not part of the list of covered screenings . If a doctor deemed an exam to diagnose cancer medically necessary , the exam would be covered . Medicare only covers about 80 % of healthcare expenses . You may therefore want to consider adding a Medicare supplement plan to cover all or a portion of the other 20 % . The idea of having a supplement plan to go with your Part A & Part B coverage is that it helps you create a very predictable healthcare expense structure . I hope the information is helpful - please feel free to contact me for help with your program and if you have any other questions . Thanks very much . |
Need Cheap Home Owners Insurance? | A home is one of the largest assets that you will probably own . If you want cheap coverage you will want a policy that pays as much as possible when you have a claim . The annual premium is immaterial if you have a fire , wind or other damage to your home . A trusted insurance agent will listen to you , provide sound financial advice and communicate clearly with you and the insurance company . The agent will help you select appropriate limits so you can be satisfied when you have a claim . | Auto insurance is designed to cover your automobile . In my experience personal property would not be covered by your auto policy . Coverage could be provided from your homeowners insurance policy or renters policy . Be careful to have the off-premises theft coverage included in your homeowners or renters policy or coverage would not be provided for theft that occurs away from your home . |
Does Home Owners Insurance Cover Personal Injury? | Personal injury is very broad . Home owners insurance provides liability coverage for people that are injured on your property where you are found responsible for their injury -LRB- be aware there are some exclusions -RRB- . As far as your own injury most policy do include medical payments if you are injured during a covered loss . Every policy is different please read over your policy completely to know what coverage it provides or call your local agent to have them go over your policy with you to explain the coverage offered in it . | That is a great question ! No one can force you to do anything that your heart is set on doing . That said , they can make it very uncomfortable for you , and this is the case with the health insurance . The idea is that the more people that have insurance , the less the rest of us have to pay for the treatment of the uninsured . So there are penalties for not being insured that increase over time . It comes down to which option is least uncomfortable for you - being insured against the inevitable sickness or injury , or paying the fines for not having it , and the medical costs you will incur . Thank you for asking ! |
Does Home Owners Insurance Cover Personal Injury? | If by personal injury you mean libel , slander , defamation of character , etc , then the answer is a resounding maybe ! Some homeowners policies include coverage for defense of charges of personal injury in the liability portion of the policy , some policies offer it as an option and some do n't offer it at all . Under those circumstances , coverage may be afforded under a personal umbrella liability policy . Check with your insurance professional . | Video Transcript : Today 's question is , `` How many life insurance policies can I have ? '' Well , actually you can have as many as you want as long as the death benefit does n't exceed the justification issue , which is the companies will say , `` We think that your exposure on your life is worth , '' let 's say a million dollars . So if you have four or five policies and they total up to a million and as long as it did not exceed what they call financial justification you can multiple policies and many people do . But remember , the total amount of insurance on all these policies are going to be shown on the application . And so when you take the total , as long as it does n't exceed what they believe is your economic justification , it does n't exceed it , you 'll be able to get as much insurance as you want up to that limit . |
Will Medicare Supplements Disappear Due To A Single Payer System? | No , Medicare has been a single payer system for years . If anything , with possible cuts to some Medicare Advantage Plans , Medicare Supplements will become more popular . There is talk about changing the structure of some of the better plans to allow for more copay 's . Supposedly a person paying for a comprehensive Medicare supplement plan is `` over utilizing '' Medicare . But Medicare Supplements are here to stay . | Roughly 50 million people are covered by Medicare out of a population in the 330 million range so that is about 15 % of the population . You did n't ask , but about 70 million are covered by Medicaid . That means roughly a third of the population is covered by taxpayer funded government health insurance . |
Will Private Health Insurance Cover Pre Existing Conditions? | Great question ! One of the biggest changes from the Affordable Care Act was the shelving of the `` pre-existing condition '' exception that health insurers used to deny coverage . They are no longer allowed to deny you coverage . That does n't mean that all plans cover all things equally though , so I would recommend that you find a good agent to help walk you through the process to find a policy that is a good fit for you . A bonus ? The Act also eliminated lifetime caps on benefits . If you need help , please feel free to contact me , I 'm happy to help . Thanks for asking ! | Body Mass Index -LRB- BMI -RRB- does impact the premium for life insurance . BMI or simply the height and weight of the proposed life insured is a key factor in preferred risk guidelines . Favorable height and weight combinations can mean preferred rates . Average combinations will mean standard rates as a starting point for underwriting . Unfavorable combinations may mean substandard rates at best . Height and weight charts can vary significantly by life insurer . An independent life insurance professional can survey a wide variety of insurers to help you select the best ones to apply with for the best possible outcome . |
Will Private Health Insurance Cover Pre Existing Conditions? | Private health insurance covers pre-existing conditions ... most of the time ! I 'll explain : When applying for coverage during Open Enrollment -LRB- assuming it is a qualified Exchange or Off-Exchange plan -RRB- , pre-existing conditions are covered and there will be no waiting period or surcharge applied . As an experienced health insurance broker -LRB- 33 years -RRB- , this issue is often discussed with customers and on our top-ranked websites . However , non-compliant plans , such as short-term policies , do not cover pre-existing conditions . If you miss Open Enrollment , these temporary plans are popular options . | When someone is looking for a low risk asset , universal life insurance can be an adequate savings plan for their goals . There is a specific design that should be followed to ensure optimal cash value performance , and this mostly involves minimizing the death benefit on the policy relative to the incoming premium . |
Will Private Health Insurance Cover Pre Existing Conditions? | It depends on the plan benefits . Effective 1/1/2014 private health insurance carriers can no longer deny applicants due to pre existing medical conditions , but that does n't mean the covered services fall under the benefit details . Make sure to verify your benefits before enrolling in a plan to make sure your pre existing condition -LRB- s -RRB- are covered appropriately . | There is no single company that consistently has the best rates . It 's going to depend on where you live , the age of your home , what condition it is in and whether or not you have had any claims in the past . Companies have different tolerances for different types of risk . You will have to shop around with a few different companies or go to a broker in order to fin the best rate . |
Does Allstate Have Homeowners Insurance? | Yes . Allstate offers multiple lines of insurance . Home , auto , business and life . If you are interested in getting Allstate insurance you should also consider bundling another product with it . The reason I say this is you can get a multi-line discount through Allstate that is pretty good . I am not an Allstate agent , but I have faced some serious competition from them due to the multi-line discount they offer . HOWEVER , I still must recommend contacting an independent agent to shop around for you . There are usually some regional carriers that can offer better prices with better coverage . | Medicaid is a state administered program . Each state has a different list of drugs that are covered . The state publishes a list of covered drugs which you can access on their website . Your physician might have the latitude to use Botox whether it appears on the list or not depending upon your unique medical condition . Your physician will certainly know what procedures and medications are covered . |
What Happens When Term Life Insurance Ends? | When term life insurance ends , the premium rises drastically or the policy simply ends . When the premium rises at the end of the term , it is no longer locked in and can raise annually . Rather than wait for the term to end and the premium to jump up , you might want to look into converting your policy to permanent life insurance . Whether you convert your policy to permanent before the term ends , or pay the new annually renewable premium at the end of the term , your premium will be substantially higher . But by converting you can lock in your premium for a longer period of time . | It 'll be different for each person . There 's no one carrier who offers better rates than everyone else . This is because there are many factors that go into the premium calculations for life insurance 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 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 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 program and if you have any further questions . Thanks very much . |
What Happens When Term Life Insurance Ends? | One of two things happens at the end of the term of term life insurance depending on the contract . One is the policy simply cancels and nothing else will happen . Second are more common is you will experience a steep premium increase usually 7 to 10 times the price . Some policies allow you to convert to a permanent whole life plan but could be expensive or you can just purchase another term life insurance plan assuming your health is still OK . | Like everything else , it depends on who you believe . Some projections say Medicare will run out of money in 2024 while others say it will happen as soon as 2016 . Here are facts . Every year since 2008 Medicare has spent more money than they have in the `` trust fund '' . They ca n't keep this up forever . |
What Happens When Term Life Insurance Ends? | Depends on the company , but either way , not good . Either they end the policy and you are left with no coverage , or they continue it , but at a grossly higher premium . Best idea is to get permanent life insurance . That way continue to pay a fixed premium and you continue to be covered , never losing your money as you would if you ended term life . See your experienced agent . GARY LANE . Thank you . | That is a great question ! The latest statistics I saw showed that roughly 70 % of us will need long term care at some point , so it definitely makes sense to prepare for it . How to do that will depend a lot upon how your retirement planning has been , or is being , done . There are some insurance policies that will combine the two policies , and there are several annuity products that will double or triple your payout , should you need the care . There are some companies that will write stand alone LTC policies . Which is the best choice for you ? That will depend upon a lot of things . Can you afford another policy ? LTC policies are being restructured , and have gotten much more expensive , as time has passed and insurance companies have found them to be much less profitable than originally thought . Congress passed a law that went into effect in 2010 that allows any funds pulled from a retirement vehicle that are earmarked for long term care to be free from income tax requirements , so if you have annuities or retirement funds that can be set aside for this purpose , and still have funds to live on , then maybe not . I 'd advise you to speak with someone that you can trust to look at where you are now financially , and where your retirement plan is , before recommending purchasing a policy of any kind . And be sure that you read the fine print , okay ? Many policies allow the early payment of benefits for LTC , but there are often fees , penalties , and tax consequences that can really make it a questionable if not down right bad , thing to do . Thanks for asking ! |
Can You Register A Car In Washington With Out Of State Insurance? | Auto insurance is regulated from state to state . Insurance would be obtained in the same state that the vehicle is registered in . You would change your insurance to a policy issued in Washington . | In California an insurance company has 60 days from the date your coverage is bound to complete their underwriting on your home and accept or deny coverage . Once it passes 60 days they can not cancel coverage until renewal unless you willfully misrepresented information or the policy cancels due to non-pay . |
Is A Pension A Qualified Retirement Plan? | Yes a pension is a qualified plan . Meaning you have not paid taxes on that money , so when you begin to take disbursements , it will be taxable @ your current income bracket . If you have not taken any distributions , you will be required to take a Required Minimum Distribution , or `` RMD '' , the year following your 70 & 6 months birthday.If you want to pass that money on to a beneficiary rather than use the money yourself . You can convert that fund to a Roth IRA , pay the tax now , & pass the money on to your beneficiaries later on.No RMD required in a Roth IRA . A living trust is the best instrument to insure that your wishes are carried out to the letter . A will is simply instructions to the probate court . | The cost of Part B Medicare in 2013 is $ 104.90 per month for most people . Medicare recipients with higher incomes are charged more . The highest premium that can be paid for Medicare Part B is $ 335.70 per month for those with incomes over $ 214,000 . The deductible does not vary based on income . The deductible is $ 147 per year . |
Can I Borrow On My Life Insurance? | A permanent life insurance policy -LRB- most commonly whole life -RRB- develops cash values to enable the policy to provide a level death benefit for a level premium for the whole life . The company will allow you to borrow against those cash values . They are guaranteed in the contract . The loan does not require anything except your request . You need not complete an application . The loan need not be repaid in any scheduled way . At death the loan will be repaid which will reduce the death benefit by that amount . There are permanent policies where the cash value is not guaranteed . These are most commonly called universal life or variable life policies . While similar provisions apply there is possibility that a loan will exhaust the value of the policy in which case the policy will lapse . | The short answer is no . Medicare will not run out of money . Any government program will never run dry as long as DC has the ability to print money . But since 2008 Medicare has paid out more every year than it has in the trust fund . Some projections say the trust fund will run dry by 2024 while others as soon as 2016 |
Can I Borrow On My Life Insurance? | Great question ! You can borrow from your policy if it has built up enough cash value . This typically takes a few years to start building a borrowable amount . The first couple of years repays the costs of the policy , and than it will start generating cash . The amount that you borrow will be charged interest , and if the loan balance becomes too large , it may cause the cancellation of your policy . Contact your agent to determine your cash value , and borrowable amount available to you . Thanks for asking ! | Yes , most people who have had a heart attack and get life insurance . If you were under age 40 when you had your heart attack , you may need to settle for guaranteed issue or simplified issue life insurance . If your heart attack was at an older age , your heart function is still good , you have addressed any issues that led to the heart attack -LRB- CAD , diet , etc -RRB- , and several years have passed since having the heart attack , you should be able to get a medically underwritten policy . If you have just suffered your heart attack , your choices will be limited to graded policies for a few years . But you can get life insurance in most states . |
Can I Borrow On My Life Insurance? | If you have some form of Permanent Life Insurance such as traditional Whole Life , come form of Universal Life or a Variable Life product to name a few examples , then these are products that not only provide a death benefit when you die , but also build cash value so long as you live and pay the premium . If you have a form of permanent coverage then , you may depending on the specific terms and conditions of your policy , be able to borrow from that accumulated cash . Remember a couple of key things about this . The Insurance Company will begin to charge interest on the amount borrowed so paying it back sooner rather than later protects the integrity of the plan much better . Further , if you die with an outstanding loan balance , the balance will be subtracted from the death benefit paid to your beneficiary . | It is hard to answer specifically , but safe to say that a 17 year old wil pay more than a 37 year old insuring the same bike , the same way with the same driving history . Similar to car insurance , a younger , less experienced bikler will gelerally pay more than an older more experienced one . |
Can I Borrow On My Life Insurance? | First it depends on the type of policy you have . If it is a term policy then the answer is no . If it is a cash value policy i.e. whole life , universal life , indexed universal life , then the answer should be yes over time . Most cash value policies take 5 to 7 years to build a cash value because of cost of insurance that must be covered in those first years . To borrow , you need to stay on a percentage basis that will not allow the policy to lapse and cancel unless you intend to repay the loan in a short time period . I recommend having your agent or insurance company run some illustrations of different amounts to keep your policy in force.Otherwise you are actually defeating your own purpose for the plan . | When your Term Life Insurance ends , the price of the Term coverage usually jumps way up in price . After this , the rate can go up every year , so most people choose to get a new policy . However , they must be medically able to get a new policy , and their rates will be based on their new age , usually causing the new policy to cost substantially more than the one whose term just ended . If health has declined since purchasing the original Term policy , it may be a good idea to convert the Term insurance to permanent . This must be done within a certain time frame . The new rates will be based on current age , and the product that you can convert to may not be the product that you would prefer . But converting does not require evidence of good health , so is a good way to get coverage when other doors are closed . |
Can I Borrow On My Life Insurance? | You can only borrow money from a life insurance policy if it 's a policy that builds cash value - a permanent life insurance program . Permanent life insurance includes both Universal and Whole life insurance programs . Term life insurance does not build cash value and therefore there 's nothing to borrow from . The maximum amount you can borrow is up to the current surrender or loan value cited in the policy at the time you want to borrow from the cash value . Keep in mind , when you borrow money from the cash value , you are creating a loan against the policy -LRB- the funds are expected to be paid back and , much like you do when borrowing from a bank , an interest rate is being charged on the borrowed monies -RRB- . If the insured dies with an outstanding loan , the carrier will deduct the outstanding amount and any interest charges from the death benefit and give the difference to the beneficiary . Consult with your agent before borrowing from the cash value to find out what will happen when you create a loan against the policy and what you 're responsible for . | Whether you are in North Dakota or South Florida , the best place to buy auto insurance is from a trusted insurance agent . If you dont have a relationship with an agent get recommendations from friends , colleagues or neighbors . A good agent will listen to you , give you sound financial advice and communicate accurately with you and the company . The most important thing that the agent will do is recommend limits . Listen to the recommendations . Having adequate insurance at the time of claim is the most important thing . It is much more important than saving a few pennies . |
Can I Borrow On My Life Insurance? | 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 . | Yes , in most cases if the accident is caused by a covered event possibly less the policy deductible . Please remember every policy is different . Please read your policy completely to understand the coverage provided and exclutions that there may be or contact your local agent to have them go over the policy with you . |
Does Homeowners Insurance Cover Yard Damage? | Depending on your carrier there is some coverage for trees and shrubs and debris removal . I would recommend that you contact your local agent or read the coverage 's in your policy . The trees and shrubs coverage usually is not a very high amount of coverage but usually you have some coverage with most policies depending on your stes guidelines and also your carriers policy terms | If you have a PPO health insurance plan you have in-network benefits as well as out-of-network benefits . This means that if you are traveling out of your home state you will have benefits which are most likely out-of-network benefits . Out-of-networks benefits are less than in-network benefits . For example your deductible may be $ 500 in-network and $ 1,000 out-of-network . In addition your co-insurance might be 20 % in-network but 50 % out of network . The annual out-of-pocket maximum would be higher also . |
Can Schizophrenics Get Life Insurance? | Schizophrenics can get life insurance through some simplified issue -LRB- no exam or medical records needed -RRB- , and all guaranteed policies -LRB- no health or risk questions asked at all -RRB- , provided that they meet the age requirements . Life insurance that requires an exam and medical records would not be available to a person with schizophrenia except in the mildest of cases . | Typically any licensed driver can operate your vehicle and be protected by your insurance policy , as coverage is vehicle primary . However , some policies have reduced coverage for permissive use , sometimes to the state minimum levels of liability . Make sure you read your policy and/or talk to your agent about your specific coverage and state regulations . |
When Is Medicare Secondary Payer? | If you are still working and your employer allows you to stay on the group coverage and you are 65 and enroll into Medicare then your group insurance is primary and medicare is secondary . What if you have medicare and medicaid-medicare pays first . What if you have retired and you have coverage through the group plan-Medicare pays first . What if you are disabled but your spouse is still working and you are covered by the grou plan-if fewer than 100 employees - Medicare pays first-if more than 100 employees-the group plan pays first . What if you have End Stage Renal Disease-during the first 30 months the group plan pays first and medicare secondary ; afgter 30 months Medicare pays first and the group plan is secondary . If you have End Stage Renal Disease AND Cobra - first 30 months Cobra is primary and medicare is seondary and after first 30 months Medicare is primary and Cobra is secondary . If your case is not shown just ask if your case is preimary or secondary on the internet | Is disability insurance deductible for taxes ? Depends on your situation . If you are an employee who has their disability coverage through a payroll deduction program , it can be deducted for taxes through their payroll plan . Self employed individuals can also deduct disability insurance from their taxes . Please note , in either case when you deduct premium , the benefit becomes taxable income . |
How Do I Cancel My Whole Life Insurance? | It would be a good idea to talk to the agent who sold you your Whole Life insurance policy , if he/she is still around , before making the decision to cancel your policy . If together you can not find a way to make it an affordable asset for you to keep , your agent can assist you in cancelling it and possibly finding you alternative coverage that better fits your situation . | Medicare may cover some cancer drugs taken by mouth IF the same drug is available in an injectable form or is a prodrug . Xeloda is included this list . However , you will typically see these drugs covered under a stand-alone Part D prescription drug plan - you would need to check your plan 's formulary to see if this specific drug is covered and at what tier it would fall under . |
How Do I Cancel My Whole Life Insurance? | You can cancel by calling the carrier . It 's ashame to cancel , since that defeats the purpose of a `` whole life '' policy . Be sure to you 're aware of the implications . For example , there may be surrender charges or tax implications if you have a `` participating '' policy -LRB- in which you receive shares of the company 's operating profits -RRB- . You may have cash value in your policy from which you could borrow money -LRB- maybe that would enable you to KEEP your policy -RRB- . Bottom line : if you cancel , ask about the implications of your particular policy . | The Health & Life Insurance Exam , if you are referring to entering into the financial and insurance services as a career , is not very hard IF you , in my opinion , take the classroom 2 day course along with the materials you will receive . The area which you will need to concentrate more on is the law side of insurance . The rest is pretty easy . |
How Do I Cancel My Whole Life Insurance? | First step , make sure you have the necessary coverage in place to indemnify your beneficiaries , who are exposed to economic liabilities you have generated before canceling your policy . Assuming you have real reasons to cancel your coverage ; be advised that any gain in the whole life policy with be treated as an ordinary income tax event in the year that the policy is surrendered . You may also suffer a net premium loss , which is more than likely not recoverable . With all that covered you can contact the service desk of the carrier and they will send you the necessary surrender documents to process the policy termination . | When you are changing employers , you will be forced off of your group health insurance through your old employer . You will then have several options : 1 -RRB- Go on COBRA - you will be required to pay 102 % of the health insurance premium . Your employer usually paid for a portion of the premium so you will now be paying your portion , your employer 's portion , plus the 2 % overage . Please note , you can only stay on COBRA up to 18 months . 2 -RRB- You will have a qualifying event for a special enrollment period to buy a new individual health insurance policy . Under this scenario , the ACA grants you 2 months from your group coverage termination date to buy an individual plan . 3 -RRB- Join your new employer 's group health insurance plan . Please note , as many employers require a term period of employment before you can go on their group plan , you may want to consider going on COBRA or buying an individual plan -LRB- traditional coverage or a short term health plan -RRB- as an interim measure . I hope the information is helpful - please feel free to contact me for help , including quotes and plan comparisons , and if you have any other questions . Thanks very much . |
Does Car Insurance Cover A Bicycle Accident? | That is a good question . Car insurance covers bicycle accident . Let say you were driving at night and hit a person on his bicycle and he is injured . Your auto insuranc would cover the bicycle damage and the person on the bike if he or she gets hurt . Good question . | The short answer is yes , you can buy life insurance after cancer . The type , amount and terms depends on the cancer itselfand how long you have been cancer free after your last treatment . To get into the standard ratings after breast cancer practically all carriers will want to see you cancer free for 10 years . Anything less than10 yearswill be a higher risk policy of either rated premiums or graduated benefits . |
Will Homeowners Insurance Cover A Hot Tub? | Homeowners insurance will cover a hot tub for the same perils of the policy as the rest of your property . If the hot tub is connected to your home this would fall in as part of your dwelling coverage . If the hot tub is free standing outside then this would fall under other structure coverage . | You can borrow against any life insurance policy that has a cash value built up in it . This can be Whole Life , Universal Life , or Indexed Universal Life -LRB- IUL -RRB- . Some people use IUL by putting a large amount of money into the policy while they are younger , then borrowing from their policy when they are older for an income stream during retirement . |
When Is Life Insurance Subject To Estate Tax? | Life insurance is subject to estate tax when it brings the value of the estate -LRB- all assets , including the life insurance death benefit -RRB- over the exempted amount . Only the value of the estate that exceeds the exemption is subject to estate tax . The federal exemption for 2014 is $ 5,340,000 . However , some states collect state estate or inheritance tax with smaller exemptions . Life insurance proceeds are not included in the value of the estate when the life insurance policy is owned by a properly set up Irrevocable Life Insurance Trust . The ILIT must hold the trust at least three years before death of the insured . | If you have an existing life insurance policy , and years later decide to take up skydiving as a hobby or part of a job , skydiving will not affect your life insurance at all . If you have skydived in the past and plan to skydive again , or have definite plans to skydive in the future , you will need to pay a flat extra to cover your skydiving , or else attach a rider that will exclude skydiving as a cause of death for your policy coverage . |
When Is Life Insurance Subject To Estate Tax? | In Canada , if life insurance is paid to a named beneficiary , then the death benefit is not considered part of your estate and bypasses probate . Probate fees vary buy province . In Nova Scotia probate fees for example are : First $ 10,000 - $ 83 $ 10,000 to $ 25,000 - $ 209 $ 25,001 to $ 50,000 - $ 438 $ 50,000 to $ 100,000 - $ 973 Over $ 100,000 - $ 973 + 1.645 % of amount in excess of $ 100,000 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 . | I have never seen any exclusion for pregnancy . Most people on Medicare are beyond child bearing years . If a person who is younger and receiving Medicare because of disability gets pregnant the pregnancy would most likely be covered the same as any illness . Under the new PPACA law pregnancy is required to be covered for all female applicants of health insurance . |
When Is Life Insurance Subject To Estate Tax? | In short , when it 's part of the calculation of the estate . The IRS code permits a unified tax credit to pass a certain value of property to a spouse without having to pay a tax . When you exceed that value -LRB- a taxable estate -RRB- , a tax is applied that must be paid within 9 months of death . If the decedent is single , the tax is due accordingly . If the decedent is married , the tax is due after the second death -LRB- death of the spouse -RRB- . A common course of action people take to minimize the estate taxes they will be subject to is creating an irrevocable life insurance trust -LRB- ILIT -RRB- . An ILIT is a legal document set up to distribute life insurance proceeds in a specific manner , depending on how the trust is designed . These trusts receive special tax consideration from the IRS that is not given to life insurance policies that would otherwise be owned by a natural person or revocable trust . Since the trust is irrevocable , the terms of the trust can not be changed . An ILIT can offer many substantial advantages to protect life insurance proceeds and help you distribute your property to your children at the least possible cost . Any life insurance policy you buy will require the same premium whether you put the policy in the trust or keep it outside of the trust . If you put the policy in the trust , the death benefit is not included in the calculation of the size of the estate - a substantial tax savings and key advantage in the estate planning process . If you keep the policy outside of the trust -LRB- e.g. , as owned by a natural person or a revocable trust -RRB- , the proceeds will be included in calculating the size of the estate you may inadvertently increase the size of the estate , and be subject to paying much higher estate taxes before any of the property can be distributed to your children or other beneficiaries . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . | Investing in annuities has become very popular over the last decade . There are many types of annuities -LRB- fixed , variable , immediate etc. . . -RRB- so it is critical to find the insurers that are the safest and give you a policy that is suitable to your needs . A full-time broker or financial planner that is active in the business is your best resource . The more experience they have is a bonus amd they can shop and explain your best options . |
Who Do I Complain To About My Health Insurance Company? | I suggest that if you have a complaint or grievance with your health insurer , that you contact your State Insurance Department to file a complaint . Your State Insurance Department will be able to handle it , or at least direct your type of complaint to the right authority . Of course , these sorts of complaint filings are long and drawn out and can take anywhere from 90 days to 3 years . So , you might be better off trying to work with your insurer first and exhaust all of those procedures before going to the authorities . That way , if the insurer is being malicious or faulty , you have more evidence to support your complaint . And depending on the type of grievance you have , all insurer 's have appeals and grievance processes to resolve issues and avoid any legal battle -LRB- or bad reputation backlash with consumers -RRB- . If you have an insurance agent , take it to them first and have them help you file any paperwork with the insurer . If you do n't have an agent , you can contact the insurer yourself . But , definitely exhaust those option first , then go to your State Insurance Department . If they are unhelpful , then you could always go to the federal Department of Health and Human Services and/or Consumer Protection Agency . | This really depends on your specific situation . However , term insurance cost the least amount when you are young and healthy . Another factor to consider is that generally , the older you get , the more health problems you accumulate . Many clients have health concerns that will not allow them to purchase insurance . Unfortunately , when many clients encounter health issues in their lives it causes them to consider purchasing life insurance . Depending on their specific health situation , they might get coverage but usually at a higher rating . |
How To Get The Best Homeowners Insurance Rates? | The very best Homeowners Insurance rates , for the most part , are enjoyed by homeowners who maintain their property and their credit scores . As best as you can , keep your property free from potential hazards , install a monitored alarm system and be sure that your roof , as well as electrical , plumbing and HVAC systems are replaced or upgraded as needed . Finally , talk to your Insurance Professional about available discounts especially for bundling your car insurance and other coverage with the same company . | Hospice Care is designed to aid people with terminal illness to live comfortably . With this focus on comfort specially trained professionals can provide care in the home or in a hospice facility . Respite care is available to give support / time off to caregivers -LRB- many times are Family members -RRB- |
How To Get The Best Homeowners Insurance Rates? | Unless you are buying a homeowners policy purely to satisfy a requirement , looking for the lowest premium might not be wise . An uncovered loss can be a tremendous shock to your finances and that is really the purpose of the policy . If you are looking to just drive down premium , take the highest deductible that the company will write . Everything else that will drive down the premium will cost more than you will realize in reduced premiums . | When you die , the life insurance policy will pay the face amount of your policy to your beneficiary . If you have more than one beneficiary , it will be split among them in the percentages you stated in your policy . They can take it in a lump sum , or they can choose to received payments made to them at regular intervals until the death benefit is depleted . |
How To Pick A Medicare Plan? | If you are looking for a Medicare Supplement Policy -LRB- Medigap -RRB- , there are a few ways to find a Plan . When looking for a Medicare Supplement policy , an independent insurance agent will be able to shop the market and show you what is available in your area . Independent agents are not employed by insurance companies . This means they contract with many insurance companies allowing them to find the lowest premiums available . Their flexibility also means they can help you locate an insurance company based on a health condition as well . You can contact the insurance carrier directly in some cases . While this may seem convenient , it is often more expensive and you wo n't have an agent to help you with annual rate reviews . Captive agents work for one insurance company and can only offer Medicare Supplement insurance products from that company . Premiums can vary . What 's important to note is that you do n't have any choices because the captive agent ca n't shop the Medicare insurance market for you . Researching on the internet is an option , but can be time consuming . Also keep in mind that most insurance companies do not make their premiums available to the public and will only work with a licensed insurance agent . If you are considering a Medicare Supplement Policy -LRB- Medigap Plan -RRB- , you 'll want to make sure whoever you choose to work with will take the time to find out what plan will work well for you . Most people choose Plan F because it covers all Medicare approved bills and they do n't have to worry about deductibles , co-pays , co-insurance or excess charges . Lately , Plan G has been popular because it works just like Plan F after meeting the annual Part B deductible of $ 147 -LRB- 2014 -RRB- . Plan G 's premium is often lower than Plan F , making it more affordable for some . These are not the only Medigap Plans ... there are eight other Plans to choose from ... that is why it is wise to speak to an agent who specializes in Medicare Supplement insurance . Thank you for taking the time to read my reply . Please feel free to contact me if I can be of further assistance . | Annuities of all types are insurance contracts written by insurance companies . The death benefit of an annuity is usually the accumulated value of the contract but it passes to beneficiaries in the same way that life insurance proceeds pass . Taxation of the proceeds is another matter and you should consult with an accountant concerning about that . |
How To Pick A Medicare Plan? | Work with an independent Medicare insurance broker who can work with you on a personal level to help you determine which structure is best for your specific needs -LRB- MA or MAPD vs. Original Medicare + Medigap or Medigap and Part D -RRB- . Depending on cost tolerance , I generally suggest to my clients securing a Medicare supplement -LRB- Medigap -RRB- plan and a standalone Part D prescription drug plan to go with your Original Medicare coverage -LRB- Part A & Part B -RRB- . The advantage of this course of action is that it creates a very predictable healthcare expense structure instead of taking on the risk of receiving a massive bill for a hospital visit , procedure , examination , etc. . I hope the information is helpful - please feel free to contact me for assistance with your Medicare program and if you have any other questions . Thanks very much . | Medicare Part B covers medically necessary DME -LRB- durable medical equipment -RRB- which would include things like wheelchairs and walkers . Your doctor will need to prescribe the walker and complete a CMN -LRB- certificate of medical need -RRB- and submit to Medicare . To minimize your out of pocket costs , use a Medicare approved provider that accepts assignment . |
How Does Life Insurance Make Profit? | A life insurance company is like a bank in that it makes a profit from the services that it provides . State regulators assure that companies admitted in their states are not making inordinate profits . Much like a bank they bring together people with similar needs . They provide services to determine how to share the risk that affects all of them , death , collision , fire or something else . | This gets a little tricky as most companies will extend liability coverage if you are at fault and injury someone in an accident . What wo n't be covered is the time it takes to repair the rental car if you damage it . For example if the rental car cost $ 50 per day and it takes 60 days to get the car fixed the potential charge for the lose of use of the vehicle could be $ 3000 out of your pocket . |
How Does Life Insurance Make Profit? | That is a great question ! Insurance companies make profits much like banks do . They make money off of the products that they sell - all of the policies or annuities will have fees attached to them , that they can profit from . They also make money off the investments that they make while holding your money . They invest in things , just like we do . They can also make money by selling off or buying corporate assets , or divisions , much like corporations do . I hope that helps , thanks for asking ! | Each company will have their own format for their policy numbers . Some use letters and numbers , while others will use a long series of numbers . If you are unsure , the best advise would be to call the insurance company you believe the policy belongs to and ask if it is one of their numbers . |
Does Health Insurance Cover Root Canal? | A root canal is not covered under your health insurance plan . However , a dental insurance plan may offer some coverage , depending on the benefits you have . Although coverage on private plans may be somewhat limited for a root canal , grouppoliciesmay provide broader options . Good luck because getting a root canal is about as much fun as having ... well , youknow ... a root canal ! | That is a great question ! I 'm not sure what annuity you have , or the details of it , so that 's a tough question to answer . If your cash flow is good enough that you do not need to touch the annuity for the length of the surrender period , then it is safe . If it pays you an interest rate that is higher than the inflation rate , then it 's safe . If it is with a reliable company that can afford to pay you out , then it 's safe . If you answered negatively to any of those things , then you may have trouble . If you 'd like to contact me with specifics , I can answer you a little better . Thanks for asking ! |
What Is A Life Insurance Endowment Policy? | A life endowment policy is a policy that guarantees that the guaranteed cash value will equal the face amount of the policy at at specified time . A whole life policy is an Endowment at 100 . Another example a $ 100,000 Endowment at age 65 plan would have a guaranteed cash value at age 65 of $ 100,000 plus any accumulated dividends . They were once quite popular , because of the guarantees and tax advantaged growth . New product advancements and changing tax laws have caused few -LRB- if any -RRB- companies to even issue them . -LRB- In Canada at least -RRB- . The notable exception are Whole Life policies which endow at age 100 -LRB- The face amount equals the guaranteed cash value -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 . | It may . It will really depend on the cause of the sprinkler release in the first place . 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 A Life Insurance Endowment Policy? | That is a great question ! When your policy endows , it pays out , or the cash value has equaled the face value of the policy . For example , a policy that endows at age 100 will give the policy owner the option of taking the face value of the policy in cash at that point , or leaving the policy in force until such time as it is needed . I hope that helps ! Thanks for asking ! | I agree with Matt . Taking a two day course , in addition to the study materials , is very helpful for passing the Life and Health exam which qualifies you to be a licensed Life and Health Insurance Agent . They will show you some sample questions so that you can get comfortable , and also point out the areas where questions will most likely be asked . |
What Is A Life Insurance Endowment Policy? | Permanent life insurance policies are endowment policies . They all have an endowment date . That is the date when the face amount and cash value will be equal . It is also the date that the policy terminates . Short term endowments were quite popular savings programs in the past but are not as popular as they once were . However , if you want a specific amount of money by a specific date , an endowment contract might be the answer because it will complete itself if you dont survive to that date . | The best type of retirement plan is one that you will follow working towards your goal . Depending on your age , when you plan to retire and how much money you need to maintain the living standard you desire , will determine the best way to meet your goal . How you feel about market risk and the volatility which happens will also need to be taken into account . If you have a 401 -LRB- k -RRB- , that is a start especially if your employer is matching . This is free money to you . |
Who Is Eligible For Medicare Part B Coverage? | Individuals who reside in the United States and Puerto Rico who are eligible for premium free Medicare Part A are automatically enrolled in Medicare Part B . You can notify Medicare to not enroll if you choose . Medicare Part B is voluntary and has a premium . There is also and penalty associated with not enrolling when you are eligible without creditible coverage . A person who is not eligble for premium free Part A but is a citizen of the United States or a legal Permanent Resident that has lived in the United States for the previous 5 continuousyears is also eligible for Medicare Part B . | The best way to buy anything -LRB- including Insurance -RRB- is to know what you want before you start looking . You should sit down and discuss your insurance needs with a professional so that you can identify exactly what you need . A young man who is single in his 20 's has a different insurance need than a young man of 35 with a stay at home wife and 2 small children . What you dont want is to be sold a policy that doesnt address what your needs and wants are -LRB- do you want a lot of coverae for the least amount of money or do you want to build cash value in your policy -RRB- . Take the time upfront to identify your needs and then you can choose the best plan for your family based on amount , price and coverages . |
Does Medicare Part B Cover Diabetic Supplies? | Medicare Part B covers some diabetic supplies , including blood glucose testing monitors , blood glucose test strips , lancets , lancet devices , and glucose control solutions . People with diabetes may receive shoe inserts to prevent foot sores , and some may even receive therapeutic shoes . Medicare Part D covers syringes and other supplies associated with the administration of insulin . | Term life insurance is sold by agents who work alone from home or in a small office , agencies that employ several to many agents , online agents and agencies , mailers , and some life insurance companies that sell it direct to the consumer online . You can buy Term Life Insurance in many places . The key is to make sure you are medically qualified and getting the best price . To do that , it is best to go through an agent . |
Can People With Epilepsy Get Life Insurance? | Yes . Epilepsy is a disorder of the brain and nervous system involving repeated random seizures that occur without warning . If you have been diagnosed with epilepsy and are trying to purchase life insurance , the severity of the disease can have an effect on the rates you pay . Life insurance companies will want to know a number of factors to make an accurate risk assessment including : 1 . What age were you diagnosed with epilepsy ? 2 . Do you have Grand Mal , Petite , or Focal seizures ? 3 . When was your most recent seizure ? How many have you had in the last year , 2 years , 5 years , etc. ? 4 . Have you ever been hospitalized for epilepsy ? 5 . Are you taking prescription medication to control symptoms ? 6 . Are you a smoker or tobacco user ? 7 . What is your height/weight ? 8 . Any other co-morbid conditions such as diabetes , obesity , heart disease , etc ? If you have been diagnosed with epilepsy , you should NOT apply with multiple companies at the same time - this can work against you as it will act as a sort of red flag for the insurance companies -LRB- they will see that you 've applied for multiple carriers and what the outcomes were during the MIB check -LRB- Medical Information Bureau -RRB- -RRB- . The more companies that give you a table rating or decline coverage on a formal application , the less likely you are to get a better offer . I highly recommend consulting with an experienced life insurance broker who can shop your medical profile informally . I hope the information is helpful - please feel free to contact me for help and if you need any other questions . Thanks very much . | There are a limited group of insurance companies left in the long term care market place . Premium prices vary between those carriers , but generally , they 're within a reasonable spread of each other . Contract definitions are the most important part of product due diligence with morbidity product lines like long term care . It 's important to seek out online experts who sell the top companies and can explain the policy provisions to your understanding . A leading long term care insurance company is Genworth . |
Can People With Epilepsy Get Life Insurance? | Yes , people with epilepsy can get life insurance . If you have not had a seizure in the past 2-5 years , you may even be able to get standard rate , depending on the type of epilepsy you have . If you are looking for a policy of $ 50,000 or less , you would probably be better off using a simplified issue policy -LRB- one that does not need an exam -RRB- . If you are looking for a policy of $ 100,000 or more , then you will probably want to try to get a medically underwritten policy , which will require better control of your epilepsy , but also will take into account some variables that a simplified issue policy may simply reject . Contact an agency that specializes in impaired risk , so that you can shop among carriers that are good for persons with health conditions . Epilepsy does not have to make you uninsurable . You just have to look at the right place to find an affordable policy . | The fine for not having health insurance in 2014 will be $ 95 for an adult . This is actually a tax , and not a fine . The IRS can attempt to recover the tax if you do not pay it . The $ 95 amount will increase after one year and continue to increase . This new tax is part of The Affordable Care Act , President Obama 's marquis accomplishment so far . |
Can People With Epilepsy Get Life Insurance? | Generally individuals with epilepsy or seizure disorder can obtain life insurance assuming they do not have other conditions that would lead to a decline of coverage . Most good independent agents with have access to multiple carriers that will offer coverage . There are questionnaires available that will give the underwriter a more complete picture of your illness and that will allow the agent to shop your case for the best result . | No , Medicare does not cover the Omnipod insulin pump . It does cover the minimed insulin pump . Many who have had good results with the Omnipod pump have had to switch to another insulin system when they went on Medicare in order to have this part of their health care covered by insurance . |
Can People With Epilepsy Get Life Insurance? | That is a great question ! Many people feel that they will be denied coverage if they have an issue with their health , and often do n't even try to get it , so I am very glad that you asked . Unlike health insurance -LRB- where until the passing of the Affordable Care Act , or Obamacare , as it is sometimes called -RRB- you could be denied , life insurance has policies for everyone . I would suggest that in your case , you contact an independent agent , -LRB- one not tied to a single brand name -RRB- who can help you shop for one that works best for you . You should not have a problem finding a policy that will work for you . Contact me if you need help , okay ? Thanks for asking ! | Great question . It all depends on the stituation . If you buy a life policy and did not smoke and started to smoke after you purchase the policy . It would be okay . If you lied on the application and you died from smoking issues the insurance company will look at the claim and investigage it more . |
Does Primerica Sell Whole Life Insurance? | No . Primerica is one of the companies that sells only term life insurance . Many people believe that you should only buy term and invest the difference so that by the end of the term -LRB- usually 20-years -RRB- you will be wealthy from your investments and no longer need life insurance . | The best Medicare supplement plan is something you will have to decide on your own . Medicare supplement plans are standardized . Medicare supplement plans are assigned a letter from A to N and each plan has specific benefits as set by Medicare . Plan F is the most popular plan . All plan F 's are identical in every way except for price . Over 90 % of my clients want value and pick a plan OTHER THAN plan F . You should pick a plan that fits your needs and budget . |
Do I Need To Carry My Medicare Card? | If you are on Medicare and are currently covered by Medicare parts A & B then you should always have the card in your wallet . You need it anytime you go to the doctor or hospital . If you are covered by Medicare Part C -LRB- Medicare Advantage -RRB- you do not need to carry your Medicare card because your private health insurance company takes the place of Medicare . | There are too many variables that need to be factored into the equation to determine the cost of life insurance for any one person : Gender , smoking status , health , family history , recreational activity , driving record , substance abuse and prescriptions to name a few . |
Do I Need To Carry My Medicare Card? | For protection against medical identity theft , you should consider leaving your Medicare card at home . Instead , carry a copy of your Medicare card with you and blot out the last 4 digits of your Social Security Number . Leave your original Medicare card at home and carry the duplicate . You can read about Medicare identity theft and ways to protect yourself by reading the following article . WEBSITELINK | PCIP Health Insurance refers to the pre-existing health insurance issues that has certainly helped to bring the confusion of the health insurance industry we see today . Even if ObamaCare does not survive the requirement that all individuals have access to coverage is sure to survive . Should the `` hard heads '' that contribute to their lack of good health have to pay for their diagnosis - sure . But what about the individual that has health insurance issues that are genetic ? It is not fair that they have to face the possibility of bankruptcy because the insurance companies fail to offer coverage |
Can Other People Drive My Car Under My Insurance? | If a person is not listed on the same policy as you they are not covered by the policy just because they are driving your vehicle . Auto insurance typically follows the driver not the vehicle . This means if someone drives your vehicle and they have their own insurance coverage their insurance carrier would be the first to pay for claims from a covered accident that the driver was involved in . If the person driving the vehicle with your permission does not have insurance coverage then your insurance coverage would pick up in the event of a covered accident . | To purchase car insurance contact your trusted insurance agent . If you dont have an agent , get referrals from your friends , colleagues or neighbors . A good insurance agent will listen , provide sound advice , take accurate information and answer your questions . When you meet with the agent carefully weigh the recommendations provided . The real test of the policy will be when a claim is made . You want to make sure that you have adequate coverage . At the time of claim , the price becomes meaningless . |
How To Check Medicare Eligibility For Providers? | How to check medicare eligibility for providers . The first thing you need is medicare part a & part b . If you have that than you have a choice to stay with original medicare or you can choose a medicare advantage plan . You can choose any provider you want to with part a & b , however the most important thing you want to look out for when choosing a plan is if your doctor and hospital is in the network . Than you want to look at if your medication is covered . | Life insurance will pay for suicide if the suicide occurs after the first two years of most policies . If someone is purchasing the policy with the desperate idea of paying off debts or providing for someone else through their death , that two year waiting period will usually discourage that , or give them some time to find other rational solutions . |
What Is Face Value Of Life Insurance? | The face value of life insurance is the original amount of coverage purchased . In term insurance , this is usually the same as what is paid out at death of the Insured . In permanent insurance , the death benefit may be higher or lower than the original face value , due to loans taken from the policy , or due to earnings within the policy that caused the death benefit to grow . | Most general dentistry services are excluded by original Medicare , this would include implants . Dental implants may be done for cosmetic reasons or as a more permanent alternative to a bridge or partial plate . Ask your dentist if there are discounts for paying in cash any time you need extensive dental work . |
What Is Face Value Of Life Insurance? | The face value of life insurance is the original amount of coverage purchased , minus any loans , or adding cash value that accumulates beyond the original face amount . In term insurance , the face value is usually the same as what is paid out at death of the Insured , or the `` death benefit '' . In permanent insurance , the face value may be higher or lower than the original face value . | An important thing to know is what they do n't ask you but do check . For instance , insurance companies will check : Your MIB -LRB- medical insurance bureau -RRB- to see if you have applied with other companies and if you have been declined . You MVD report -LRB- Motor Vehicle Department -RRB- to see if you have any outstanding tickets , felonies , or dui 's . Your Pharmacy Report to see what medications you have been prescribed by Doctors . Make sure you answer the above questions honestly on the applications as the underwriters will be checking this information . |
What Is Face Value Of Life Insurance? | The face value of a life insurance policy is the amount of money paid to the designated beneficiary after proving the death occurred with a valid death certificate . In most cases these proceeds paid to your beneficiary are tax free . The face amount is paid only if premiums are current and no exclusions apply at time of death . | A qualified long term care insurance policy is one that has some tax advantages over a non-qualified LTC policy . Your premiums are tax deductible , up to a limit set forth by the IRS . And the benefits you receive are not taxed , you need to ever use your policy to pay for your long term care needs . |
What Is Face Value Of Life Insurance? | The face value -LRB- face amount -RRB- of life insurance is the amount of the proceeds to be paid out when the insured of a policy dies . If you have a term insurance policy , this proceed amount to be paid to the beneficiary is equal to the face amount . If you have a permanent life insurance policy with cash value , the proceeds to be paid out will be the face amount less any loans against the policy . | No . Term life insurance can be purchased with simplified or full underwriting . It can offer annual renewable or guaranteed level coverage periods like 5 , 10 , 15 , 20 , 30 and a few at 40 year . -LRB- The longer the coverage period the more age becomes a factor and based on age , companies limit the length of coverage . -RRB- Some term life insurance includes convertibility clauses to extend coverage and offer living benefits either embedded in the policy or as an additional rider . |
Does Home Insurance Cover Flood Damage? | Generally speaking NO ... virtually all carriers who use any part of an ISO homeowners insurance contract will exclude flood . Flood insurance is underwritten and priced by the government through FEMA . There are several carriers who write flood insurance and there should n't be any real variance to the pricing between the carriers . Even if you do n't think your home or business would ever flood , check out the cost of flood insurance . You might be surprised how cheap it actually is ... I know what I 'm talking about on this topic . My office had 7 feet of water in it after back to back 100 years storms hit my area back in 2010 . I did n't have flood insurance -LRB- dumb agent I know -RRB- and had to come out of pocket to rebuild my unit . I have flood insurance now ... costs me about $ 350 a year !! | The best way to buy a Medigap Policy is through a licensed independent agent who specializes in Medicare Supplement insurance . We work closely with you to make sure you understand the benefits associated with Medigap Plans and how they work for you . Independent agents are not employed by insurance companies . Instead , we have contracts with multiple carriers that allow us to shop the Medigap market and find you the best price for the Medigap Plan you desire . Some people like to avoid insurance agents and do the work themselves , but with Medigap insurance that is not going to save you time or money . Most insurance companies will not provide their insurance premium information to the public . The carriers who do share their premiums with you will , often times , be much more expensive . I have done a fair share of helping people move from their expensive Medigap premium to a lower one while still keeping their same exact benefits . Most of the time they had no idea there were other insurance companies available to them . If I can help you with your Medigap insurance needs , please feel free to call me at 1-888-411-1329 or visit www.remedigap.com . |
Can You Receive Disability Insurance And Social Security Disability? | Yes , you can receive Disability Insurance and Social Security Disability Insurance at the same time . The Disability Insurance supplements the Social Security Disability benefit received , allowing the insured person to receive a higher total disability benefit -LRB- % of income replaced -RRB- than just receiving either insurance benefit on its own . | When you rent a car you are responsible for any accident you might have with the car and are also responsible to return the car to the agency in the same condition as when you rented it . While the insurance offered by the rental company may be overpriced they do not do any of the underwriting and investigation of the driver that a normal insurance company will do . That makes their selection process less critical and their prices higher . The advantage of the insurance that they offer is that you can return the automobile or tell the company where the automobile is located and the insurance that you purchased from them will complete your contract with the rental company -LRB- that is not a legal opinion , just an observation . -RRB- The coverage on your current automobile extends to a car that you have rented . If you have inadequate coverage on your private automobile you will have inadequate coverage on the rental car . If you are involved in an accident the rental company will try to keep the meter running on the rental agreement if you dont have their insurance . |
What Interest Rates Are Annuities Paying? | Current interest rates for deferred annuities vary , but the leading 5 year guaranteed interest rate is around 2.95 % , the 10 year rate is 3.25 % . The 35 basis point spread for twice the holding period is n't enough to tie up your money for that length of time , especially during times of rising rates . Rate changes occur often , so always check the latest rats at an annuity brokerage shop for a listing of annuity rates . | The percentage of life insurance claims denied would be less than 1 % . The reasons for denial are only a couple . First the most common reason for denialis a suicide which is committed within the first two years of the policy in force . Suicide is excluded within the first two years of practically every policy . This protects the insurance company from someone suicidal purchasing a policy while in this state of mind . Second is fraud committed within the first two years . If someone has a illness that would cause a prudent individual to seek medical attention and did not then passed away from this affliction within the first two years . The insurance company would consider this a misrepresentation of health on the application and deny the claim . In today 's information age this is getting more difficult for an individual to get away with . |
How To Sign Up For Medicare Part B Online? | Go to WEBSITELINK to apply for Medicare online . This page is the government page to apply for Medicare online . You can not use this page is you want to activate your social security at the same time . This page is for Medicare online enrollment only . If you already have Medicare Part A and want to sign up for Medicare Part B you should call Social Security at -LRB-800-RRB- 772-1213 to activate your Part B coverage . | True life insurance policies -LRB- not AD&D -RRB- pay a benefit regardless of the cause of death . In some cases the policy will refund premiums vs. paying the face amount , especially if death occurs during the contestable period . Suicide during the first 2 years the policy is in effect is a common situation where premiums paid will be refunded vs. paying the face amount . |
What Is Medicare Plus Blue? | It 's the name of a Medicare Advantage plan - I believe it 's offered by blue cross / blue shield of michigan -LRB- as cited on google search -RRB- . Due to CMS regulations , you would need to contact an agent licensed and certified to sell the plan -LRB- or the carrier directly -RRB- to get specific plan information . | Is long term care insurance worth it ? Well , most people who purchase long term care do so for a couple of reasons . First the idea of spending down their assets to gain public assistance does n't appeal . Second , they know the Long Term Care Insurance will protect their assets allowing them to receive care covered by their insurance rather than the sale of their assets . |
Is A Non Us Citizen Eligible For Medicare? | A non US citizen may be able to purchase Medicare . Residents are allowed to purchase Medicare if they have not qualified to receive it when they turn 65 . There are premiums for part A and part B . If the person is not in the country legally then they would not be able to . | The face value of life insurance is the original amount of coverage purchased . In term insurance , this is usually the same as what is paid out at death of the Insured . In permanent insurance , the death benefit may be higher or lower than the original face value , due to loans taken from the policy , or due to earnings within the policy that caused the death benefit to grow . |
How Much Does Medigap F Cost? | Medigap rates vary considerably by zip code , age , tobacco use and plan . 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 . 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 . 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 | There are several ways to qualify for Medicare . The most obvious is to reach age 65 and have worked ten years during which you paid the Medicare tax . You must reside in the United States or its territories . You can also qualify for Medicare if you are disabled and receiving benefits under Social Security or the Railroad Retirement Board . You can also qualify if you have End Stage Renal Disease -LRB- ESRD -RRB- or Lou Gehrigs disease ALS . If you 're getting disability income from Social Security or the Railroad Retirement Board -LRB- RRB -RRB- , youre eligible for Medicare Part A -LRB- Hospital Insurance -RRB- and Part B -LRB- Medical Insurance -RRB- starting the 25th month you get the benefits . In those cases your enrollment will be automatic . There are exceptions which may apply to you and you should consult with Medicare about your situation . There isnt coverage if you are outside the USA or are in jail or prison . |
When To Stop Paying For Term Life Insurance? | 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 . | We have life insurance as consumers because we want to be able to leave our dependents , businesses , lenders , and charities in good shape -LRB- at least , not in financial devastation -RRB- in the event of our death . We gave life insurance as a legal and valued product in our nation because it allows individuals to care for their own , rather than leave them impoverished and needing the government to support them . |
When To Stop Paying For Term Life Insurance? | When do you stop paying for term insurance ? When you decide that you no longer need the coverage and wish to discontinue it . While it is nice to provide written notice of cancelation to the company , mainly in the case of getting unused premium refunded , it is not necessary . You can just let a policy lapse if you desire . | Term Life Insurance does not usually decrease in value . There are some products that will reduce the face amount at the END of the term . But the face amount stays level during the years of the term . It is very difficult to find traditional `` decreasing term '' policies from life insurance companies , where the face amount decreases every year . |
How Much Is Medicare Part D Penalty? | This penalty is 1 % per month of the national average set by Medicare . Generally this is around $ 35 . This is added each month you do not sign up when you were eligible and did not have creditable coverage from a group or other plan and it never goes away . We suggest picking up a low premium Part D plan even if you do n't currently have any prescriptions . Those penalties will add up over time . | I have to assume your laptop was probably stolen if you are wishing to file a claim with your homeowners insurance carrier . If this is the case your insurance company would have a claims phone number you can call to open a claim . A report will be taken and then coverage will be determined . Keep in mind your homeowners insurance policy will have a deductible that will need to be met before the insurance company will pay out . |
How Much Is Medicare Part D Penalty? | Based on the current Medicare Part D penalty formula , -LRB- using Rusty 's example -RRB- if you waited 36 months to buy your penalty TAX would be $ 12.60 per month in addition to your Medicare Part D premium . This is a tax , not a surcharge that goes to the insurance carrier that issues your Part D coverage . | What is a variable universal life policy ? A VUL is a type of universal life policy that has it 's investment pool in the stock market . Universal life normally consists of an insurance account and an investment account that make up the guts of the policy . Any funds collected above the cost of insurance are deposited in the investment account . Later on , those funds are used to help reduce the actual cost of insurance as Universal life is basically term insurance with an investment account . Variable UL is simply the same thing except the investment account is now based in market securities -LRB- usually mutual funds -RRB- which present the opportunity of higher returns . Be aware with the higher returns there also comes greater risk . A VUL should never be purchased and forgotten about . Chances are it wo n't be there if that 's what the purchaser does . A VUL requires oversight and adjustments over time to get the best use out of it . |
How Much Is Medicare Part D Penalty? | I would add this to be clear . It 's 1 % per month . So if you go without creditable coverage and no Part D plan for 3 years -LRB- 36 months -RRB- ; your penalty will be 36 % on top of your Part D premium . That penalty is administered by CMS , so it can not be escaped . Each carrier will notify CMS that they are covering you when you sign up . CMS will notify them of your penalty and it will be applied to your premiums . | Great question . And the answer depends on what you mean by floor damage . Because there are situations that would be covered and situations that would not . For example if there is water overflow of an appliance that soaks a wood floor and destroys it you are likely covered . If the concrete floor in the basement cracks from settling over time , you will not be covered . If a wood floor has to be replaced due to poor workmanship , you are not covered . When in doubt , it is best to report a claim and have a claims specialist determine how the policy language relates to your specific situation . And of course consult your insurance professional to advocate on our behalf . |
Why Does Dave Ramsey Not Like Whole Life Insurance? | There have been a long line of financial entertainers and celebrities who have jumped on the `` I hate all types of permanent life insurance '' bandwagon . The gist of all their criticisms has at its core a misunderstanding of how whole life can work . They tell their followers that investing in equities will create more money than accumulating money in life insurance will create . A closer objective look with realistic assumptions may tell a different story , especially when looking at it from a big-picture perspective . But as always , you have to evaluate this debate with your particular situation in mind . | Aviva Life and Annuity Company is based in Des Moines , Iowa . They were the the number one ranked life insurance company for sales of indexed life insurance products in the third quarter of 2012 . In addition to indexed universal life , the company also offers term life and universal life insurance . |
Why Does Dave Ramsey Not Like Whole Life Insurance? | Life Insurance is always about the number of people of a given age that will die in a 12 month period of time . Every life insurance policy manipulates the same data . Where things change is over the word guarantee . The criticism of whole life insurance is that it guarantees conservative growth for the underlying reserve which guarantees a level death benefit in exchange for a level premium . There are several techniques that the companies have used to address this issue for people who want less guarantees and more opportunity to rise -LRB- and fall -RRB- with the market . These policies rise and fall in popularity based upon market performance . In the end a policyholder is faced with determining who they are going to entrust with their financial future . Market timing then becomes the greater risk as a person must assume the risk that the securities might not have the anticipated value at some specific point in the futurethe day that they need it . | That is an excellent question ! The answer is that you can , but you will need to be very careful . If not done correctly , you become liable for taxes on the entire amount that you transfer . If this is a sizable IRA that you are rolling over , you may see your bracket jump for a year , and pay out a lot of unwanted tax . Please consult with an advisor or tax attorney before making the change , okay ? Thanks for asking ! |
Why Does Dave Ramsey Not Like Whole Life Insurance? | My company is endorsed by Dave Ramsey so I never get this question since our company only sells term life insurance , mutual funds , and annuities . We first help our families with a financial plan that takes a snapshot at where they are now financially and then we attack their debt including their mortgage . Since most of my clients are underinsured with higher price whole life coverage.We get them the right amount of protection for 20 to 30 years that will pay off their debt and replace an income for the beneficiaries for at least 10 years . Then we look at their present saving and retirement plans and help them to get the most out of their savings program . It 's simple ! | You do . If you decide to lease a car , part of the leasing agreement will be that you obtain and maintain full coverage , namely both Comprehensive and Collision coverage for any covered physical damage to the car itself , as well as Liability coverage . Remember that the Leasing Company owns the car so they want to make sure that their interest is protected and they do that by requiring that you show proof that you have your own car insurance policy . |
Which One Is The Best Life Insurance Company? | There are many blue chip , highly rated life insurance companies with significant financial strength and claims paying ability . There are many competitive product life insurance companies that continually rank high on the sales spreadsheets of brokerage outlets . There are life insurance companies that are benevolent in underwriting impaired risk . So its impossible to rate any one carrier as the best U.S. life insurance company . | One of the benefits of life insurance is that the death benefit received by the beneficiary is not included in taxable income . Should the insurance company issue the death benefit in `` checkbook '' form , where the beneficiary receives a checking account in lieu of a lump sum , the insurance company would pay a small interest rate on the funds held on deposit . This interest would be taxable , but not the death benefit . |
What Is Extra Ordinary Life Insurance? | Extraordinary -LRB- Extra Ordinary -RRB- Life insurance is a brand used by at least one or two life insurance companies . It is not a type of life insurance , but rather a specific product offered by these companies . We would need to know the company in order to know how to answer this question . | Tenants are responsible for the property and everything that happens on the property . Most people can not afford a judgment from a personal injury or property damage law suit . Most people can not afford to see all their belongings go up in smoke . Your landlord is not responsible for any loss of your personal property or a liability claim . Since you can not afford to take that sort of loss , I suggest that you purchase a renters policy from a trusted agent . |
How Many Employers Offer Long Term Care Insurance? | Virtually none offer it . It is a shame . That is why we have it available to you in the individual market . There are a vast variety of plans available , with numerous choices of amounts covered , years covered , waiting periods , whether home care is included , and the amounts . Gary Lane 714 422 9616 . Thank you . | Medicare Advantage plans are probably never going away , but you can expect continued changes in the availability of such plans over the next few years . Congress has been steadily reducing funding for these private insurance plans . Reduced funding has been accelerated because of Obamacare . Expect fewer choices , smaller networks , higher premiums , higher copay 's and higher out of pocket going forward . |
What Is Risk Pool Health Insurance? | Prior to 01/2014 there was a Federal Health Insurance Pool in which people who were denied health insurance would be accepted . This way everyone could purchase health insurance coverage even if they had a preexisting medical condition . Since the ACA now mandates the ALL health insurance carriers must accept everyone there is no longer a need for a health insurance pool and the plans have been dissolved . | When you purchase renter 's insurance , it will cover your personal contents up to a specified amount . There will , of course , be other coverages included . It 's important to discuss with the agent/broker the amount of coverage that is most suitable on your property and `` replacement cost ? as a rider . By adding this rider , your property will not be depreciated if an approved claim is paid . |
What To Look Out For When Buying Life Insurance? | The biggest things I would recommend to look out for when buying life insurance are the guarantees and the qualification requirements . When people express their disillusionment and frustration with a previous life insurance experience , it is usually because they applied for a policy for which they were obviously not qualified , or they purchased a policy they did not understand . A good life insurance agent can help immensely in avoiding declines and the purchase of products that do not do what you wanted them to do . | A renters policy can be bound in a matter of minutes . Discuss this with an agent . Select the appropriate amount of coverage for your personal property and personal injury and property damage liability . There are options which might need to be considered but most policies written in my office only take a few minutes . |
What To Look Out For When Buying Life Insurance? | 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 . | All Americans will be required to have health insurance , but not all will pay for health insurance . The health care legislation is based on means testing , so the poor wont pay anything and the middle class could have subsidies . Because it is a federal program , all shortfall of the legislation will be paid be federal tax payers , i.e. only half the country . Starting in 2014 Obamacare will be operational . Its success or failure will drive the 2014 midterm elections . |
What Are Medicare Excess Charges? | Excess charges occur when you use a provider that does not accept assignment of benefits . In those situations your provider is required to file your claim with Medicare . The provider is allowed to collect amounts in excess of the allowable charge by Medicare . Only 2 Medigap plans will cover excess charges . | It depends on many factors including where you live , your age , the type of coverage you need and what specific carrier you prefer to be insured with . An experienced independent health insurance broker and/or a reputable and reliable website can provide specific rates , coverage details and an application so you can easily purchase the best available policy . After 2014 , existing medical conditions will not be considered in the underwriting of your policy . You may also be eligible for a federal tax subsidy that could potentially reduce your premium . |
Is A Fixed Indexed Annuity A Good Idea For Seniors? | Fixed annuities can definitely be a great idea for seniors . The set payout creates a known , predictable income stream that helps supplement a senior 's other retirement income . They are low-risk and generate a guaranteed interest rate return . There are immediate and deferred fixed annuities and they are set up through insurance companies . If you 're already at the retirement age , you may want to consider an immediate annuity . If you 're in younger years , then a deferred annuity may be more preferable . An immediate fixed annuity makes fixed payments starting when the annuity is established that are determined by your age and the size of your annuity -LRB- how much money you put into it -RRB- . A deferred annuity accumulates over time . If you would like to look into fixed annuities in further detail and see what interest rates are available in today 's market from a number of different carriers , please send me an e-mail via the contact me button next to my name . I have an agent in my office that has a strong background in fixed annuities and can help get your program set up . I hope the information is helpful - please feel free to contact me with any other questions as well . Thanks very much . | Retirement is a swamp for many . Most people spend more time preparing for an evening out with their spouse than they do for their own retirement . The evening lasts four hours and their retirement could last 30 to 50 years . If you havent started saving for retirement you need to start . Send me a note and I will give you some ideas about a saving rate . |
Is A Fixed Indexed Annuity A Good Idea For Seniors? | Fixed annuities are finding increased acceptance among seniors . Guarantees are important to seniors who are concerned with any loss in their investments . The fixed annuity gives safety for the rest of the life of the senior . Fixed annuities are being purchased to provide a boost to the income of the senior after they reach an older age . This compensates for inflation . Should death occur before this deferred annuity starts its payments the principle in the annuity would pass to the heirs in accordance with the beneficiary provisions . | Normally , you can not deduct auto insurance from your taxes . If you are self-employed or own a business , a car used for that business can have expenses deducted with certain limitations . To fully deduct insurance and other expenses on a vehicle , it must be used 100 % for business purposes . If it is used for both personal and business , it becomes more complicated . With the simplest way , a flat amount per mile can be deducted for all business usage . The second way is to keep track of ALL expenses associated with the vehicle including gas , repairs , and insurance , as well as exact records about miles for business and personal use . The percentage of total miles used for business is the percentage of total expenses that can be deducted . Caution should always be used taking business deductions such as vehicle expenses and home office expenses as the rules are very strict and those types of deductions can increase the likelihood of an audit . |
Is A Fixed Indexed Annuity A Good Idea For Seniors? | That is a great question ! They can be , a great investment , depending upon your financial situation . An agent will do what is called a `` suitability study '' with you to determine whether an annuity is right for you . The suitability study is designed to see if the investment in an annuity is a safe investment for you to make - is it financially safe , will it meet your retirement needs , and does it fall within the tolerable amount of risk that you are comfortable with . Annuities are not very flexible for a period of time when it comes to the money that you invest . There are large fees and penalties , and much damage done to the earnings potential if you need to take back money from your annuity in the first years of the contract . This period is called the `` surrender period '' , and may last as long as 10 years . That makes an annuity something that should be seriously considered only if you have some safeguards in place , and have a good cash flow . That said , if it is a suitable investment , then it can be a terrific one to make . Annuities can guarantee an income that you ca n't outlive , and with our increasing lifespans that is a great thing to have ! There are some really good annuity products out there , and the indexed ones have some great earning potential and guarantees . If there are specific questions that you have , feel free to contact me , I 'm happy to help . Thanks for asking ! | If you 're pregnant during the disability insurance underwriting process , then you will receive an exclusion for anything pertaining to pregnancy . After you 've had a normal childbirth , you can apply to have the exclusion removed . As long as you had no complications , it 's pretty easy to get the exclusion removed . But if you 're hoping to get DI coverage in case the pregnancy does n't go well , then that wo n't work . |
What Is A Contingent Owner On A Life Insurance Policy? | A contingent owner on a life insurance policy is the person who would own the policy if the primary owner died . Contingent owners are only used when the primary owner is not also the insured person . The owner is the one who stipulate the beneficiary , method of payment , and all decisions regarding the policy . So if the primary owner would pass away , the contingent owner would make those decisions . | Most insurance companies will have a second inspection criteria . It normally requires you to get a contractor that will agree that there is damage , and provide a written , detailed estimate of those damages to the insurance company . They should then provide a second adjuster to inspect the damage with your contractor . Worst case , you can contact your state Department of Insurance . They should be able to help . They are free and part of their role is consumer protection . |
What Is Non-Participating Whole Life Insurance? | Non participating whole life is a level guaranteed premium to a fixed age to the maturity date of the contract , generally from age 100 to age 121 . Non participating means there are no annual or terminal dividends generated by the policy . The crediting method is generally interest rate driven . | Medicare Part B is all the outpatient charges , the doctors , the lab work , the outpatient surgery , etc. . You may wan to pay all these costs out your abundance of cash flow but most of us would be bankrupted if we did not have Part B . When was the last time you had outpatient surgery and what did it cost . When I had cataract surgery it was done as outpatient and since most of the surgery today is done outpatient unless the procedure requires you being hospitalized for the minimal out of pocket expense Part B costs it is a good investment |
What Is Non-Participating Whole Life Insurance? | Non-participating whole life insurance is very straightforward coverage . Your premiums are fixed and guaranteed for life . You pay your premium for the policy and at whatever point in time death occurs , the policy pays out a death benefit . As with any permanent life policy , it does build cash value that you can borrow against , however these policies do not pay any dividends that can normally be used to reduce your premiums , secure paid up additions -LRB- increasing your total death benefit -RRB- , or making a payment to the policyowner . Only participating whole life policies can pay dividends . I hope the information is helpful - please feel free to contact me for assistance with your life insurance needs , including quotes and policy comparisons , and if you have any other questions . Thanks very much . | Your employer must provide you with a COBRA election form within 14 days of departing from your job for reasons other than gross misconduct . You have 60 days to decide if you want to purchase coverage under COBRA . If you do , follow the instructions provided on the form given to you by your employer . |
What Is Non-Participating Whole Life Insurance? | That is a great question ! Many insurers are regular corporations , and some are mutual or fraternal organizations . As they make money , as in any corporation , there are dividends that may be paid . Mutual insurers are a lot like mutual funds , -LRB- I am simplifying this tremendously -RRB- in that they will generally pay those dividends , as each policy holder is a shareholder in the company . The ones that pay are `` participating '' ; the ones that do n't are `` non-participating . '' Unfortunately , there are far less participating companies than non-participating . I hope that helps , thanks for asking ! | Yes indeed , life insurance will cover skydiving . You must be very careful and approach the right company . Insurance carriers have varying degrees of expertise in underwriting different risks . There are some who are very proficient in underwriting adventurous hobbies in general , and skydiving in particular . Your broker must guide you through a complete prequalification process so that all pertinent details are disclosed . Once an underwriter feels he has been provided with the whole story , he is comfortable in being lenient in his rate assessment . |
What Is Non-Participating Whole Life Insurance? | Non-parcipitating whole life insurance is insurance under which the insured is not entitled to share in the divisible surplus of the company . Everything is set when a non-participating policy is taken out and nothing can be changed : death benefits , premiums and cash surrender values are all determined when the policy is purchased . | That 's a great question ! Back when life insurance became popular , it did n't take long for some people to figure out that they could insure someone without their knowing about it , and then make friendly wagers on the life expectancy of that someone , with the policy benefit as the prize . To prevent that from happening anymore , the insurance industry -LRB- goaded by the gambling authorities -RRB- set into place a rule requiring that there be an `` insurable interest '' in the person you want to insure . So to purchase a policy on someone else , you will need to show that their passing will cost you , financially , or emotionally . They will need to either be immediate family , or someone that by passing causes you to suffer a financial loss that is insurable . You will also need their consent , if they are not a minor , as they will have to be in agreement with the policy terms , and provide signatures , and health information . As long as you can satisfy those requirements , you should be good to go ! Thanks for asking ! |
Can We Switch Home Insurance? | Homeowners insurance like auto insurance can typically be cancelled with a carrier at any time and picked up a new carrier on the same date . Most local agents will provide you with a price for coverage and assist you with the cancellation of your coverage with your current carrier at your request . | There are rules on deductions or the business expensing of disability insurance premiums . If your business fits the IRS approved criteria , the company can deduct the premium . Keep in mind that deducting disability premiums also re-characterizes the benefits as taxable as ordinary income at the policy beneficiary 's effective tax bracket rate . The good news is you can cover up to 80 % of your compensation . |
Is Cancer Covered Under Disability Insurance? | Disability income plans pay as long as you meet the definition of disability , regardless of the disabling condition . If you are unable to work for any reason , illness or accident , and meet the policy definition that qualifies you for benefit , the carrier will pay your monthly benefit until you recover , die or exhaust your benefits . | In most cases yes , if the broken TV is a result of a lightning strike or other covered peril . The key here would be your deductible . If you have a $ 500 deductible and it will cost $ 600 to replace your TV why turn it in ? Your insurance rates may go up and you end up losing money . Any time you have a question regarding coverage always call your agent first . He can help you decide if it is worth turning in . |
When Is Life Insurance Included In The Gross Estate? | In general terms , life insurance proceeds are included in the estate when owned personally . This may or may not present a problem depending upon the exemption in the state of residency . The federal unified credit is over 5 million for an individual . But if federal or state transfer taxes are a concern , you may consider an irrevocable life insurance trust as your policy owner . Consult an attorney before assigning or changing ownership of personal property . | Term life insurance has a definitive ending . If you purchase 20 year term insurance it will end in 20 years . Other types of life insurance include Universal Life , Indexed Universal Life and Whole Life and each of these would be considered a type of permanent life insurance . Universal Life insurance can last your entire life if structured correctly . Universal Life can have a flexible premium which will allow the excess of premium above the actual cost of insurance to be credited to the cash value of the policy . Interest is credited to the cash value each month , adding to the cash value , once policy expenses are taken out . The interest percentage is set by the insurance company . Using the same flexible premium concept , when you determine the amount of interest to be credited to the policy by referencing a financial index such as the S&P 500 , it is an Indexed Universal Life -LRB- IUL -RRB- policy . No money is actually invested in the referenced stock market . The IUL can be designed to build up a large cash value over the years and that cash value grows tax deferred . If you need cash along the way , you can get a loan against your policy and use it for your own needs . Many people use an IUL to build cash value for college expenses or to supplement their retirement income . Whole Life insurance policies generally offer fixed premiums . In a participating whole life policy , the cash value inside the policy increases as the insurance company provides dividends based on the overall return on its investments . Earnings beyond those required to cover policy expenses go to the policy 's cash reserve from which you can borrow against during life 's journey or to supplement retirement income . |
What Is Group Registered Retirement Savings Plan? | In Canada a group Registered Retirement Savings is simply a company sponsored RRSP . It is covered by the same legislation as an individual plan . In most cases the company -LRB- employer -RRB- is making a contribution to the plan and / or paying some or all of the administration costs . It is often used as as substitute and sometimes as an addition to a company pension plan . If you would like to work with a local Retirement Planner , you could start with a Google search . For example if you search for : retirement planner Halifax or retirement planning Halifax , my name along with several others will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . | If there is any coverage at all it would fall under liability . This means your landlord is going to sue you for the damages of which your insurance provider will have to step up and defend at the very least . The insurance carrier will then make a determination if there is coverage . My question is , did the landlord allow you to have the dog ? |
Does Scuba Diving Affect Life Insurance? | Yes , scuba diving can affect life insurance rates . Recreational scuba diving less than 50 feet does not affect rates at all with many life insurance companies , so that if you are able to get the best rating based on your health , your diving will not bring that rating down . Some will allow the best or Preferred rating for divers who are experienced and do not exceed a depth of 75 ' . Being a certified diver and/or diving only in a club or with an instructor helps get the best rates . When dives are over 75 ' or the diver does cave diving , rescue diving or diving alone in remote areas , the scuba diving can bring rates down to Standard , add a flat extra , or even cause a decline . Agents familiar with this type of policy can get all the pertinent details from you and find out ahead of time which company has the best price for your particular type of scuba diving . | If you are age 65 or older , you can purchase a Medigap Plan any time you are enrolled in Medicare Part A and Medicare Part B . If you are under age 65 there may be some additional conditions . If you are age 65 + and enroll in a Medigap Plan within 6 months of getting Medicare Part B , your coverage is guaranteed . |
Can I Get Health Insurance With Fibromyalgia? | Under the Afforable Care Act , you can not be declined for health insurance due to a pre-existing condition or other health-related issue . You have the option to secure a bronze , silver , gold , or platinum level plan - please note , not every carrier offers a plan under each level -LRB- e.g. company XYZ may only offer bronze , silver , and gold plans , but not platinum plans -RRB- . Individuals under age 30 also have the option of securing a catastrophic plan . If you qualify for a subsidy , you would want to look into plans ON the health insurance exchanges . If you do n't qualify for one , you may want to look into plans OFF the exchanges as you will generally have more options available to you . I always recommend consulting with an experienced broker if you 're looking for coverage or want to review your existing insurance to see if a better option is available . Insurance brokers have an in-depth knowledge of products from many different carriers and can help you determine the plan that 's going to best serve your needs and your budget . Please let me know if I can be of further assistance . Thanks very much . | There are two main retirement plans : qualified and non-qualified . Qualified plans allow for participates to borrow from their plans at a stated interest rate . But just keep in mind that if you change jobs the plan may call for you to pay back the loan before you transfer it to another . Non-qualified plans that use annuities or life insurance are generally individually owned . Annuities may allow a withdrawal -LRB- not a loan -RRB- without surrender charges , but are subject to tax on the gain and a 10 % penalty if youre under age 59 . Permanent life Insurance allows borrowing at an interest rate and may not , if the policy has performed , require the loan to be repaid . |