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How Expensive Is Vacant Home Insurance? | Like many other forms of property insurance that can of course vary based upon location , proximity to fire services and coverage amount . However , one thing is certain . The premium cost to insure a vacant dwelling is significantly greater than the cost to insure an occupied dwelling due to the increased risk and exposure associated with such a property . |
Can You Get The Cash Value Of A Life Insurance Policy? | Yes , you can get an illustration to show how much cash value is in your life insurance , by simply asking the company through which your policy is issued . Or , if you want to spend the cash value , you can take out a loan from your policy , or cash the policy in . If you take a loan against it and then pay it back with interest , you will maintain the death benefit of the policy . If you cash it in , or surrender the policy , you will not longer have any death benefit protection . |
When Does It Make Sense To Buy Whole Life Insurance? | There are two people for whom whole life insurance makes a lot of sense : 1 . Those who have a permanent need for death benefit -LRB- there can be a myriad of reasons for why someone might need permanent death benefit -RRB- 2 . Those who would like to add a low risk asset to their portfolio that is very market neutral . |
When Does It Make Sense To Buy Whole Life Insurance? | The need to purchase a whole life insurance policy is based on your specific need . Whole life as the name suggests is a life insurance policy designed to have a death benefit that lasts your entire life regardless of age of death . Whole life insurance has evolved into what some consider the Swiss Army knife of life insurance policies . The cash value can be built up and used as a tax free retirement vehicle , a child 's college fund or future savings in life . Whole life insurance riders can cover terminal illness , critical illness , long term care needs or even some disability payments . Just be cautious when purchasing a whole life insurance policy . They can be rather expensive policies . |
What Does Life Insurance Surrender Value Mean? | Life insurance surrender value is the amount paid to the policyholder if they decide to terminate the policy before the death of the insured person , or before the policy matures . Only cash value life insurance policies , such as Whole Life or Index Universal Life , will have a surrender value . The surrender value is the cash value of the policy , minus expenses and fees . |
What Does Life Insurance Surrender Value Mean? | Cash surrender value pertains to the asset value or `` living value '' of permanent life insurance policies . Permanent life insurance is designed to pay a death benefit to last a lifetime , regardless of when you die . The premium is higher than term because it has to last longer and build a cash reserve to help keep the premium level . The cash reserve means the insurance company can offer a cash value to the owner that grows over time . At any given point in time , the cash surrender value is the amount that the insurer will pay the owner if the owner cancels the policy . In the first few years , it is not uncommon for that value to be zero . |
What Life Insurance Should I Buy? | To answer the question , `` What life insurance should I buy '' , certain criteria must be known first . For example , what is your primary objective for owning life insurance ? Do you want to have a tax sheltered and safe vehicle for wealth growth ? If the only purpose is to protect your loved ones from debt liabilities for a certain period of time should you die , probably a term insurance will be appropriate . However if you want insurance that will last your entire life and provide income or a legacy for your loved ones then Whole Life is what you need . |
What Life Insurance Should I Buy? | Product suitability is a priority when purchasing savings , investments and insurance products.Life insurance is no exception . Your need to first determine your financial liabilities and future obligations , then determine if they are temporary or permanent . That determination will help you decide between term life insurance and permanent life insurance . |
What Life Insurance Should I Buy? | You can peruse prices , use life insurance calculators , and discuss the type and amount of life insurance to get with your spouse and others . But I have found that after all this preparation , many people call in and find that their health restricts them from all but a few choices . So while it is helpful and important to get general information about life insurance , you can only know what life insurance is best for you by talking to an informed life insurance agent . |
Does Life Insurance Really Pay? | All life insurance companies do pay their death claims . There are no exceptions to that . But when you buy your life insurance you need to make sure you are buying the kind you really need . ForInsttance , if you buy 20-year term life insurance it will only pay if you die in the next 20-years . If you live longer , it 's over . |
Does Life Insurance Really Pay? | That is a great question ! I think that it is a shame that we even have to ask anymore if companies are honest ... In all the policies I 've ever written , only one did not pay out the whole amount , and that was because they thought there was some false answers on the application . They still paid back everything that had ever been paid in , plus some interest . There are a great many companies that are honest , and do the right thing . If you want to see how honest yours is , go to your State 's Department of Insurance site , and look at the complaints filed . If you are in the process of deciding whether life insurance is right for you , please contact me , and we 'll discuss your concerns privately . Thank you for asking ! |
Does Life Insurance Really Pay? | Yes , life insurance really pays . Your question strikes a chord because beneficiaries really do feel that way when they get the check for life insurance proceeds after a loved one dies . `` It really paid ! '' And the main object of their gratitude is for the person who thought to buy that policy for their benefit . |
Does Life Insurance Really Pay? | Life Insurance is a legal contract . You have one obligation , pay the premium . The company has a primary obligation , deliver the death benefit . There are other obligations for the companies but to answer the question . The company must do their part , if you do yours . |
Does Life Insurance Really Pay? | Yes , life insurance pays . However , if you commit suicide during the first two years , it will only repay the premium plus interest , so do n't think of doing that . Otherwise , for a death that is insured against , yes your family or friends will collect the payment . Unless the company is substandard , they will actually come to you and deliver a check . Those few substandard operations will try to get the payment to be placed into another policy , for the beneficiary , so they do not have to pay it all out . But they can not require that , and most companies will not even try to do that . The check is theirs and they are encouraged to take it immediately , and place it in a safe place , or if they choose , spend it right away ! Thank you . GARY LANE . |
Does Life Insurance Really Pay? | My father passed away recently at age 84 , and a policy that he had gotten at age 16 , paid . My mom said it was a poignant time for her . Steps you are taking now can show your love , and benefit those you leave behind , far into the future . |
Does Life Insurance Really Pay? | Yes , Life Insurance carriers make good on their contracts all the time . If an individual had a life insurance policy in force and dies , his or her family will receive the death benefit proceeds . The insurance carriers will look for information about the cause of death . If no foul play or false reports a death benefit claim will be paid . It is important to be open and honest when filling out an application . Do not hide the fact if you are a smoker or have a family history of depression . We respect your privacy . It is always better to disclose this information upfront . After the ` two year ' contestability period , if you stopped smoking for more than one year and have no other health issues you should renegotiate the cost of insurance with the insurance carrier . It could end of saving you money over the length of your contract . The point is do not avoid purchasing life insurance or lie on the application because you smoke or have high blood pressure . You can always go back and renegotiate the cost of insurance . By misrepresenting information about yourself on the application you could put your family at risk in the event of death and a claim not being paid . |
Does Life Insurance Really Pay? | Yes life insurance does pay.When you buy a policy that you plan on holding on to for 10 , 15 , 20 years or longer . You are entering into a long term relationship with this company . While rates and fees are important , the most improtant factor should be the strength of the company . You want it to be around so it can pay the claims . |
Is there a limit to what insurance will pay for minor damage (scratches on a rear bumper) on a 2002 vehicle? | When you file a claim the insurance company will determine the amount of damage . They policy will pay up to that amount . If you feel that the amount is inadequate you are entitled to appeal the adjusters decision . Usually the company that makes the estimate is ready to do the work and many companies will guarantee that work for a period for a period of time . |
Is there a limit to what insurance will pay for minor damage (scratches on a rear bumper) on a 2002 vehicle? | Any settlement would be subject to your deductible , regardless of whether the damage was caused by another car , a stationary object or a human being -LRB- Collision -RRB- or by a falling object , hitting an animal or the like -LRB- Comperhensive -RRB- . Beyond the deductible , the settlement amount will be adjusted between the repair shop and the claim professional . |
Is there a limit to what insurance will pay for minor damage (scratches on a rear bumper) on a 2002 vehicle? | When you say -LRB- limit -RRB- or -LRB- minor amount -RRB- that would be payed out -LRB- in this case a bumper -RRB- that would be under the coverage for property damage on the policy . When you say -LRB- Minor -RRB- amount that ca n't be determined unless looked at by repair shop and the Adjuster to determine and agreed upon an amount to repair or replace the damage 's . In addition if the cost to repair or replace the bumper is more then the book value of the car then it would considered a total loss and a check would be cut for the Market value of the vehicle at the time of the accident . |
What Is A Medigap Plan? | Medigap plans -LRB- commonly referred to as Medicare supplement plans -RRB- are designed to help seniors who want high quality healthcare and are on Medicare , cover the gap between what hospitals and doctors charge for their services and what Medicare will pay.Health insurance is constantly changing , which can make finding the right plan for you very strenuous . Supplementing your Original Medicare coverage -LRB- Medicare Parts A & B -RRB- with a Medicare Supplement plan will help you create a very predictable expense structure for your healthcare and allow you to see any doctor you want that accepts Medicare . Any doctor that accepts Medicare will also accept your Medicare Supplement plan . There are 10 different Medicare supplement plans and they are all standardized , meaning a plan F from company A and a plan F from company B feature the EXACT same benefits . The 10 different plans available are plans A , B , C , D , F , G , K , L , M , and N -LRB- a high-deductible plan F is also available that features a $ 2,140 deductible in 2014 - the trade-off being a substantially reduced premium -RRB- . Each plan offers certain benefits some more comprehensive than others . Each plan must cover a core set of benefits -LRB- also known as the basic benefits -RRB- . The basic benefits are : 1 -RRB- Medicare Part A coinsurance plus coverage for 365 additional days after Medicare benefits are used up . 2 -RRB- Medicare Part B coinsurance or copayment 3 -RRB- First 3 pints of blood 4 -RRB- Part A hospice care coinsurance or copayment There 's a total of 9 benefits that can be secured . The other 5 benefits available under a Medigap plan are : 1 -RRB- Skilled Nursing Facility Care coinsurance 2 -RRB- Medicare Part A deductible 3 -RRB- Medicare Part B deductible 4 -RRB- Medicare Part B excess charges 5 -RRB- Foreign travel emergency -LRB- up to plan limits -RRB- Each plan features a different structure , Each plan covers a different combination of these 9 benefits -LRB- some of the plans feature coinsurance or copayments for certain benefits -RRB- . If cost is not a major factor for you , Plan F will be the recommended choice because it covers all 9 benefits at 100 % - it 's the most popular plan by far . If you 're looking to keep your costs down , but still have very comprehensive coverage , you may want to look at plans C , G , and N as well . When you 're looking to buy a Medigap plan , you should consult with an independent Medigap insurance agent to review the plans in detail to see which one will best serve your needs , help you identify all of the carriers offering Medigap plans in your zip code , and which one will be able to offer the coverage to you at the lowest cost -LRB- the plans are standardized so the biggest difference between them is price - the benefits are exactly the same regardless of the carrier you have the Medigap plan through -RRB- . I hope the information is helpful - please feel free to contact me for assistance with your Medigap coverage needs , including quotes and plan comparisons , and if you have any other questions . Thanks very much . |
What Is A Disability Insurance Plan? | A disability insurance plan pays you an agreed upon monthly amount for a period of time that you are disabled . Definitions for disabled vary and this is extremely important . Most policies provide benefits after a period of time passes . Most policies limit the time that benefits will be paid . |
What Is A Disability Insurance Plan? | That is a great question ! Disability insurance is a great way to `` protect your paycheck '' . The way that it works is if you are sick or injured , and are disabled to where it prevents you from working , then after a specified amount of time , the policy begins to pay you a specified amount . The specifics can vary quite a bit , so look around , and have a good agent guide you , but this is a great thing to have , especially if you work in a hazardous job , area , or are prone to illness . Thanks for asking ! |
What Is A Disability Insurance Plan? | A disability insurance plan is a contract wherein the insurance company agrees to pay you a set sum of cash during the time you are `` disabled '' . You pay a monthly premium to get this protection . Depending on the wording of your policies and the features you choose , the policy could pay a large % of what your paycheck might have been simply because , e.g. , you are unable to concentrate on your work due to symptoms of MS or side effects of being on pain medication . The other extreme is that your policy would not pay unless you can not perform any job , even if you were a scientist but still able to work at a fast food restaurant . As David said , the definition of `` disabled '' is important . Use a knowledgeable agent to be sure you get a Disability Insurance plan that provides the level of protection you 'd like at the lowest possible price . |
Who Has The Best Homeowners Insurance Rates In Florida? | I would be cautious in looking only at the rates , especially in Florida . As an adjuster I can tell you that all policies are NOT the same . When reviewing a policy be sure to read everything carefully paying special attention to the declarations page as well as anything that your agent asks you to initial or sign . For example there are several policies that will exclude water damage and other policies that state the insurance company is going to make any repairs to your home in the event of a loss . |
Does Health Insurance End The Day You Turn 26? | If you are on your parents ' health insurance plan you can stay on that plan until you turn 26 under the Affordable Care Act . Prior to turning 26 you will receive notification from your health plan that you will be terminated when you turn 26 . When you turn 26 you will have three options : If your parent 's plan is an employer sponsored group plan you will be offered COBRA . This would be the same plan you currently have with an administrative fee attached of 2 % if the employer has more than 20 employees and up to 10 % if the employer has under20 employees . If you are on an indivdual/family plan you will be offered a choice of plans from your exisitng health insurance plan . Your third choice is to find your own health insurance plan with the carriers offering individual plans in your state . |
When Should I Purchase Long Term Care Insurance? | You should purchase Long Term Care Insurance when you can still qualify for it . The underwriting is stricter , in some ways , than Life Insurance , so it is best to buy your policy before age related health conditions start to creep up on you . Also , rates are lower when you purchase your policy before age 60 . |
When Should I Purchase Long Term Care Insurance? | Most advisers introduce their prospects and clients to long term care at age 50 . But in reality , most people purchase long term care in their early 60s . But you may want to consider buying it earlier when your healthy and young , especially if your family has a predisposition to disease and/or a history of nursing home confinement . |
Can I Keep My Ex Husband On My Health Insurance? | Typically , you can not keep an ex-spouse on a health insurance policy . And why would you want to . If you divorced him , I would assume you would like to cut all financial ties . Regardless , he can purchase a private health insurance plan and get his own coverage . An experienced broker can help him find the best options . |
Who Qualifies For Life Insurance? | Because life insurance is all about statistics companies can provide life insurance for individuals in a wide range of health . There are some who can not obtain coverage because their longevity is in immediate risk , however , many who consider themselves uninsurable actually can obtain coverage . When life expectancy is not very long , the premium for the coverage is going to be quite high . |
Who Qualifies For Life Insurance? | Most people qualify for life insurance . There are many different types of polices that range from those with the strictest underwriting -LRB- those have the potential to have the lowest price -RRB- to those that have no medical requirements at all -LRB- those have the potentially highest price per thousand dollars of insurance -RRB- . Due to all these choices , there is a policy out there for nearly everyone . |
Is A Deferred Compensation Plan A Retirement Plan? | Deferred compensation plans are generally an additional executive retirement plan when a qualified plan contributions have reached their maximum . Although the employer ca n't deduct the plan until the employee 's retirement date , the plan generally has a vesting schedule that can be a golden handcuff to the key executive to stay on until it 's fully vested . The plans accumulate tax deferred and are taxable as ordinary income during distributions . |
Why Does My Health Insurance Go Up? | What people pay for their health insurance increases as they get older . The reason for this is that as you get older , the average person typically needs/uses more health care resources . For example , when you 're young and healthy , most people only go see the doctor when they have an injury . When you 're in your 50 's and 60 's , the body changes and needs more maintenance and observation . Older persons generally go to the doctor on a routine basis every year . Carriers also change their rates periodically because they have to have the funds available to pay claims . If they have an increase in claims one year , they will likely have a premium increase on their policies the next . I always recommend people consult with an experienced health insurance broker - we have an in-depth knowledge of a wide range of products available in the marketplace and can help you find the health plan that 's going to be most suitable to your needs and your budget . Please feel free to contact me for help . Thanks very much . |
Why Does My Health Insurance Go Up? | Ever year , rates increase due to mortatlity tables . Simply put , we get older each year . As we age , our health deteriorates . We see more medical issues as we age . Thats one of the reasons premiums increase . Its best to shop around prior to your renewal date to get the best option for you . |
Can Creditors Get Life Insurance Money? | If the insured person passes away with outstanding debts , and the beneficiary of the policy is his/her estate , creditors can attempt to get life insurance money to repay those debts . If the beneficiary is a person , the person is safe from the insured person 's creditors , unless the beneficiary is a co-signer to the deceased 's debts . |
Can Creditors Get Life Insurance Money? | I life insurance policy is a contract that operates outside of probate . Debtors present obligations to probate . The only way that life insurance proceeds would be used to satisfy debtors is when the beneficiary has died or the beneficiary was the estate . There are ways that a debtor can secure their debt with life insurance and many do that . Mortgage companies can not secure debt with a life insurance policy , their recourse is the residence . |
Can Creditors Get Life Insurance Money? | Ill tell you one way they can : by making them the beneficiary on your policy . Its a common mistake , and it can be costly . When men and women go into business for themselves , they often take out a bank loan to jumpstart the enterprise . Many lending institutions require life insurance to be in force on the borrower . They simply do not want to have to chase the heirs or estate custodians in case their client unfortunately dies before the loan is paid up . The question is , how can you arrange for them to get only the amount that is due on the loan at the time of death ? You may take out $ 1 million loan initially , but seven years down the road you may owe only $ 750,000 . How do you prevent them from getting the entire million dollars of benefit ? One very effective way of accomplishing this is through the use of a collateral assignment . As soon as the policy is put into force , the owner signs an agreement signing over the benefit to the lender . But , the agreement is careful to stipulate that only the outstanding amount of the loan would be payable . This is how it would work : the estate of the insured files a claim . The insurance carrier sees from their file that a collateral assignment has been executed . They then contact the lender for proof of the outstanding amount . Once that proof is provided , they are sent a check . The beneficiary gets the rest . The lender gets only what they are due , as they should . But I think you can see the trouble that could be caused if you made the lender the beneficiary . They would get the entire amount of the benefit even if they are not owed that much ! The collateral assignment is a neat little tool that is not complicated and can be executed in a day . But it goes along way towards securing your life insurance benefit for both your creditors and your beneficiaries . |
Is Xgeva Covered By Medicare? | XGEVA -LRB- also known as denosumab -RRB- is an FDA-approved prescription medicine used to prevent serious bone problems in patients with bone metastases from solid tumors that is covered under Medicare Part B . An estimated 70 % of Medicare beneficiaries with supplemental coverage pay no out of pocket cost forXGEVA , other than possible costs associated withoffice visit , physician , staff , or administrative charges associated with administering the drug . For those who do not have complete covered , the drug manufacturer offers assistance , known as First Step . Details can be found at WEBSITELINK |
Is Xgeva Covered By Medicare? | XGEVA -LRB- also known as denosumab -RRB- is an FDA-approved prescription medicine used to prevent serious bone problems in patients with bone metastases from solid tumors that is covered under Medicare Part B . An estimated 70 % of Medicare beneficiaries with supplemental coverage pay no out of pocket cost forXGEVA , other than possible costs assocaited withoffice visit , physician , staff , or administrative charges associated with administering the drug . For those who do not have complete covered , the drug manufacturer offers assistance , known as First Step . Details can be found at WEBSITELINK |
Does Medicare Cover Osteopathy? | Osteopathic treatment can be covered by Medicare in certain situations . Osteopathic care must be deemed medically necessary , the same standard of care required for ANY medical treatment . The treatment must be recommended by a medical doctor as part of CDM -LRB- Chronic Disease Management -RRB- . Your care generally must be coordinated under a team approach . |
How Much Is Life Insurance For A 18 Year Old? | It 's going to depend on a number of factors including whether the 18 year old is a male or female , their medical history , height/weight profile , any tobacco usage , the amount of coverage you 're looking to secure and how long you want it guaranteed for . Many individuals look at securing a guaranteed universal life or whole life policy for an individual at such a young age as they can reasonably expect to live for a long time , meaning the rates are much much lower than someone who is in their 30 's , 50 's , 60 's , etc. , where the number of years of remaining life expectancy would be less . Consult with an independent insurance agent/broker to see what plans are available and what structure would be best suitable to meet your needs . You can send me a private message by clicking on the `` contact me '' button if you would like assistance with your and your family 's life insurance needs . |
Is Annuity Inheritance Taxable? | Generally speaking , yes , inheritance from an Annuity is taxable . It can be subject to all normal federal and state taxes that are applicable to inheritance . This can vary depending on your federal tax situation and your state & local tax laws . If you have inherited or expect to inherit Annuity proceeds you should speak with a CPA or Tax Attorney . |
How Many Americans Have Renters Insurance? | Not sure , but I bet not enough . Unless you rent from a complex or building owner who requires you to carry such coverage , unfortunately , Renters Insurance is one of those things that far too many folks do n't really think about . Bottom line is this : if you own personal property and have some sort of Liability exposure -LRB- which we all do -RRB- andyou are renting your home , you need Renters Insurance . Be sure to talk to your Insurance Professional today if you can . |
How Does Deductible Work On Home Insurance? | When you have a claim the initial settlement will be based on the actual cash value of the property lost . The deductible is applied on property losses and other listed losses but not liability nor medical payments . The company will then pay the part of the loss that exceeds the deductibles . They will normally only apply one deductible per occurrence . |
How Does Deductible Work On Home Insurance? | When and if you put in a claim for home owners insurance . What ever the pay out on the claim it will be minus your deductible therefore make sure you have the deductible saved up for that rainy day if and when needed . If you not sure contact your agent and ask the general question to be more clear on what your inquiry is about . |
How Does Deductible Work On Home Insurance? | Great question ! The deductible on your homeowners works exactly the same way that it does on your health or auto insurance policies . Whatever amount the deductible is , that amount you are accountable for first . Often people will opt for a higher deductible to keep the monthly cost low , and as long as they have a savings fund to cover the higher amount , or are blessed to not have to file a claim , that is a great strategy . On the flip side , if that is n't the case , and a claim is filed , that higher deductible can be a real problem . It is very important to find a level where the deductible is affordable , as well as the policy . Thanks for asking ! |
Is Variable Annuity A Good Investment? | Product suitability for each client is important . You need to establish a personal financial profile that includes a risk tolerance assessment , your financial goals and a life expectancy review . A non-qualified variable annuity is a security and an insurance product that accumulates tax deferred with a guaranteed interest rate account and separate sub accounts with using equities and bonds . Variable annuities are generally expensive , so the value proposition has been called into question by many advisers . The inventory of variable annuities is significant and you may want to review the Morning Star reports on any variable annuity you may be considering . Variable annuities can lose money , so make sure your risk tolerance fits the product . |
Does Medicare Cover Knee Walkers? | Knee walkers can be a covered expense under Medicare if your doctor approves the equipment . As with any DME -LRB- durable medical equipment -RRB- purchase you should use a Medicare approved supplier that accepts Medicare assignment . Providers that do not accept assignment can balance bill you which will substantially increase your OOP expenses . |
Does Medicare Cover Knee Walkers? | As a rule , yes . If they are medically necessary they should be covered as durable medical equipment under Medicare Part B. Your doctor would have to prescribe them and he would generally get approval from Medicare . You would be responsible for 20 % of the Medicare approved amount . |
Can A Health Insurance Company Cancel My Policy? | Generally the answer will be `` No '' as long as you make your premium payments on time . In the era of health care reform the health insurance company is more restricted than ever before in how they both can issue and terminate policies with their customers . Essentially , you would have to be found guilty of fraud or misrepresentation in your application to reach the level where the insurance carrier could terminate a person for reasons other than non-payment of premium . Another , more benign situation , where a given insurance carrier may have to initiate policy termination is when the policyholder moves outside of the geographic area served by that carrier 's health plan . In this event the policyholder would have a change of life status event allowing them to enroll in another health insurance plan in their new location . |
Does Medicare Part D Cover Zofran? | It depends on the Part D plan you have . Since it was first introduced as a medication to reduce chemo-induced nausea , Zofran -LRB- ondansetron -RRB- has quickly become a standard anti-nausea medication for non-chemo use as well . Because of this , more plans are now paying for the medication although often they will have a limit on the number of tablets you can have per refill or per month . |
Does Borrowing Against Your Life Insurance Policy Work? | First of all , cash value life insurance is a bundled product and a bad investment . You should always separate your life insurance from any savings or investing that you are doing . Remember , life insurance is only there to protect your assets , pay off any remaining debt , and replace an income for your spouse . With this said , borrowing from a cash value policy means that you are borrowing from yourself and paying interest on the money that is saved in the policy . At the same time , your death benefit will decrease dollar for dollar by the money that you borrowed from your cash value . Now , you are paying the same premium for less insurance . Therefore , the benefits derived from borrowing from a life insurance policy will only be on the side of the insurance company . |
Does Borrowing Against Your Life Insurance Policy Work? | Are you kidding me ? You can say that for all individuals from all income levels , with different concerns that a term policy or a spousal trust would always be a better option ? First of all anyone who qualifies any insurance policy structuring by referencing the total population of current and potential policy holders and does not give you a mixed message then they do not fully understand or do not care to fully answer the question as to the benefits or drawbacks of a policy -LRB- assuming that they are not basing their statement in the fact that the policy structuring will be eliminated/or significantly compromised by federal regulations -RRB- . First of all I am including Indexed Universal Life under the whole life product line , some professionals like to clearly separate the different options , which can serve a purpose . However I will assume a limited working knowledge of life insurance structuring regarding the average consumer who would be asking this as the first question that they would like to address once they take a seat in ones office . That being said most people who have not been educated or taught themselves the life insurance market are only familiar with Term and Whole . At very least it is a good place to start as those looking for final expense plans have no interest and are not going to benefit from hearing about all of the whole life policy structurings , and a individual who is trying to figure out how they can reduce estate taxes , avoid taxes for surpassing federal and possible state gifting limits they do n't have any interest in term life and are probably going to be using life insurance along with setting up a or several trusts to help them meet their need . If you already have a standard whole life policy and your goal when purchasing the policy was maximizing distributions to beneficiaries than I would say that the majority of policy holders that fit into that criteria would be best off leveraging the equity in their policy to meet their `` borrowing '' needs . This is also assuming that the policy has been in force long enough to establish a respectable cash value -LRB- depending on the policy , the premiums paid and the interest rates a rough estimate would be 8 years from the policy issue before you would consider borrowing from the policy except for in a emergency -RRB- . Basically the most efficient way to borrow from such a policy would be using the cash value in the policy as collateral -LRB- as you would a car or a house -RRB- on a bank loan . This will give you the most options to shop around for the best interest rates and will simplify the entire process for you . Right now Indexed Universal Life policies are dominating the market . They can be a little more complex and confusing . However they are seeing such widespread growth because of their interest rate structuring , and because they serve as fantastic duel purpose policies . By purchasing a policy with a face amount that is appropriate for your needs but far less then you had initially had in mind the policy will accumulate a significant cash value that can be used as a college fund , a retirement fund , or many other situations . One would generally want to plan on contributing to the policy for a specific amount of time before they will be requiring the distributions . But the amount of time you will want to give the policy to grow the cash value will depend on your needs , if you want to use if to provide a extra $ 40,000 annually to supplement your post retirement stream financial goals for 20 years then it will probably have to grow for about 25 years . If on the other hand you are just looking to find the most beneficial way to structure a college fund that will only be making distributions for 4-6 years then one can achieve this in a far smaller time frame , by the way I personally have funded my daughters higher expense costs from a IUL policy and I think that they are very often the best option , a professional with your best interest motivating their actions will always look into the options run calculations and then present you with your options and empirically show evidence that supports their value statement and product comparison . That 's all I am going to say except if one does not believe in cash value policies then what do they purpose as a better way to maximize transfers of wealth . - Christopher J. Lawrence Christopher@Lawrence-Financial-Consulting.com |
Does Borrowing Against Your Life Insurance Policy Work? | Borrowing from existing cash value life insurance can work . Youll need an in force ledger from the life insurance company illustrating the policy loan including the interest charged to borrow your money . If you dont pay the interest charge it will cannibalize cash values to make the interest rate payment . There are several policy loan interest charging methods : Zero net cost loans , wash loans , spread loans , direct recognition loans and participating loans . Keep in mind that tax free policy loans are predicated on the policy remaining in force for the life of the policy insured . |
When Must I File For Medicare? | When you turn age 65 you are automatically enrolled in Medicare Part A and Part B . You can refuse either part if you wish , but refusing Part A will disenroll you from Social Security . If you are covered under an employer group health insurance plan you probably do n't need Part B. |
How Are Retirement Annuities Taxed? | Retirement Annuities are generally annuities held in qualified retirement plans . Contributions are deductible . When qualified plan distributions are paid to the plan participant , the entire amount is taxed . Non-qualified annuities used as retirement plans are taxed on gain , but not on basis or original contributions . Original contributions are not deductible . |
How Are Retirement Annuities Taxed? | Generally speaking a retirement annuity has had all growth tax deferred . It is this growth that would be taxed when withdrawals are made , regardless of when that would be . If the annuity is funding an IRA all of the distribution would be taxable income and there could be a 10 % income tax penalty if the money is withdrawn prior to age50 .5 . If the annuity is funding a Roth IRA the distribution is entirely tax free if the contract has been held for five years and the participant is older than 50.5 . |
Can You Change Your Medigap Plan? | You can change your Medigap Plan at any point throughout the year . You do not have to wait for AEP -LRB- Annual Election Period from Oct. 15 - Dec 7 -RRB- . The Annual Election Period only applies to Medicare Advantage and Prescription Drug Plans . You 'll have to medically qualify for a new Medigap Plan if you are not in your Open Enrollment Period or other Guaranteed Issue situation . To medically qualify , you have to answer health questions on the insurance application and then get approved through the medical underwriting department . It is best to contact Medicare or an independent agent specializing in Medicare Supplement insurance to see if you are still in Open Enrollment or a Guaranteed Issue situation . If you have to medically qualify for a new Medigap Plan , an independent agent can review your health history and help determine which insurance companies are best suited for your situation . There are several reasons why you may want to change your Medigap plan -LRB- lower premium , more benefits , less benefits -RRB- . The main reason people want to change is usually because of price . Over time , premiums increase and what you may be paying for Plan F may be very different from your neighbor . Although Medigap plan benefits are standardized , the price is not . An independent agent specializing in Medicare Supplement insurance can provide quotes for your Medigap Plan so you can compare it to what you 're currently paying . Please feel free to read this article which gives a little more detail about changing your Medigap insurance . WEBSITELINK Thank you for reading my response . Please let me know if I can help you with your specific situation . |
How To Purchase Short Term Disability Insurance Online? | To purchase short term disability insurance online , you must find an insurance agency that sells products from Assurity and/or Mutual of Omaha . Those are the only two companies that I am aware of that sell individual short term disability policies . You can not buy from the companies directly , so get in touch with a website or local agency where someone can assist you with the purchase . |
How Much Does Health Insurance Cost For A 20 Year Old? | there is no universal answer to your question . The monthly premium for a 20 year old will vary from state to state , vary based upon the health plan design you enroll in , and in the individual market could also be impacted by whether you are a tobacco user . With those caveats , a ballpark estimate in mid-2014 for the monthly premium for a 20 year old non-smoker wouldbe somewhere in the $ 90 's to $ 175 range . |
How Much Does Health Insurance Cost For A 20 Year Old? | How much your health insurance costs is going to depend on several factors : your age , where you live -LRB- your zip code -RRB- , what metal level plan you want , and which carrier your policy will be with - you can also lower your cost of coverage if you qualify for a subsidy . Under the new Affordable Care Act , you have a range of options from each carrier . The four main types of plans are named after metals : bronze , silver , gold , and platinum -LRB- bronze provides the least coverage , but the lowest premiums , and platinum provides the most coverage , but the highest premiums -RRB- . An independent health insurance agent/broker can help you find the plan that 's most suitable for you . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any other questions . Thanks very much . |
How Much Does Health Insurance Cost For A 20 Year Old? | Although this seems like a simple question there are a lot of variables : Where does the 20 year old live ? How does he/she use health care ? What type of health insurance , HMO or PPO ? What metal tier ? Bronze , Gold , Silver or Platinum The best way to answer your question is to suggest that you talk to a licensed and certified health insurance agent . The agent will ask you a number of questions and obtain quotes from various health insurance carriers . The simple answer is health insurance should cost between $ 200 and $ 350 a month . |
Will My Auto Insurance Cover Me In Canada? | Discuss the coverage terms and conditions of your policy with your Insurance Professional in order to fully understand how your policy works in a case like this . However , most US Auto Insurance policies will cover you in all 50 states and US Territories and Canada . You may need to carry a card issued to certify the coverage you have while driving in Canada , but as your Insurance Professional about this . |
What Does It Mean To Assign Life Insurance? | A life insurance assignment means that the death benefit is `` assigned '' or transferred for a period of time to either an individual or institution . For example , one might assign benefits to a bank or other lender to protect against the insured 's premature death . Usually , this assignment would be revoked once the underlying risk has been eliminated . |
What Does It Mean To Assign Life Insurance? | Great question ! An `` assignment '' allows you to promise over the benefits of your policy . there are a couple of reasons why you might want to do this . Most commonly , you 've purchased to policy for a child who now is well enough off to be able to care for themselves and can assume responsibility for the policy and its payments . You would assign the ownership of the policy to them , and at that point they take over the payments , and you relinquish any rights to the policy , beneficiary choice , etc. . Another popular reason is to ensure that your funeral arrangements are what you wish for them to be . You can go to some funeral homes , and `` prepay `` for your service and thethings needed for your burial . You will need to take your beneficiary along , as they will need to sign also , but when the time comes , the funeral home is paid out of the policy , and there are no unpleasant `` hat passing '' problems . If you would like more information , please contact me , I 'm happy to help . Thanks for asking ! |
What Does It Mean To Assign Life Insurance? | There are actually two common but different ways to assign life insurance . The first way to assign is with assigning the beneficiary for a temporary purpose . An example would be a financial institution loaning a substantial amount of money may require a person to assign them as beneficiary until the loan is repaid . Once this loan is repaid the assignment of beneficiary would go back to the original beneficiary , unless specifically changed again by the policy owner . The second common practice of assignment of life insurance is to assign a new owner of a policy . This is most common with cash value life insurance which a parent or grandparent purchased on a minor child . A minor can not own a policy with financial decisions , so an adult , usually parent or grandparent , will be owner until the child becomes an adult . The assign is made from the parent or previous owner to the insured child as the new owner . |
What Does It Mean To Assign Life Insurance? | There are two types of assignment relative to life insurance . 1 -RRB- Absolute assignment . This is when the owner of the policy transfers ownership to another person , including all the rights to change the policy . E.g. . An absolute assignment might be used when parents have life insurance on their children , and wants their children to assume ownership of their own policies when they become adults . 2 -RRB- Collateral assignment . This is when a life insurance policy is used as temporary security for a loan . An assignment form usually is attached to the life insurance policy , authorizing the lender to collect the amount owed to them , should the insured person -LRB- borrower -RRB- pass away . The remainder goes to the Insured 's beneficiary named on the policy . |
Can I Cancel My Employer Health Insurance? | In most cases there are two times when you can cancel your employer health insurance : during your employer 's open enrollment , and in the event of a qualifying life event . Your employer has an open enrollment once per plan year . You can make changes to your elections during this time . Changes become effective in the new plan year . You can make changes outside the open enrollment if you have a qualifying life event . The changes must be consistent with the life event . Life events that may allow you to cancel coverage are a change in residence , change in martial status -LRB- divorce -RRB- , death of spouse or child , a change employment for a dependent that gains coverage . |
Will Insurance Give Me A New Car? | Depending on the specific terms and conditions of your policy , it might , but you need to talk this over with your Insurance Professional . Most policies settle losses on an `` Actual Cash Value '' or `` Depreciated Value '' basis meaning that settlement for a total loss would be based upon the book value of the car . Some companies offer optional new car replacement coverage which would then pay for a new car of similar make and model . Other policies , usually covering collector or classic cars will pay based upon an agreed value for the car , in many cases predetermined by an appraisal at the time of application . |
Will Insurance Give Me A New Car? | The answer is sometimes , it might . Normally the idea of insurance is to replace the loss with a similar vehicle -LRB- age , condition etc. -RRB- Some companies , however , do replace an automobile that is recently purchased -LRB- usually one year or less -RRB- with a new car . This feature may be limited to select clients . |
What Happens If Homeowners Insurance Lapses? | Several things can happen if you lapse your homeowners insurance . If you carry a loan on your home your lender can force place insurance at usually a significantly higher rate simply because it is a requirement of your loan that you carry homeowners insurance . Also lapsing your homeowners insurance can make it very difficult to obtain a new policy since many carriers will not take a client who has a lapse . |
Does State Farm Auto Insurance Cover Hail Damage? | I am not a representative of State Farm as I am an independent agent . However , with that being said , State Farm can OFFER the ability to cover hail damage . Every insurance company that can protect your personal auto is able to provide coverage for hail damage . You are looking for a coverage called Other-than-collision -LRB- OTC -RRB- or sometimes called comprehensive coverage . This coverage is often called all-risk -LRB- a misnomer -RRB- or open-peril coverage . What the heck does that mean ? It means that comprehensive covers EVERYTHING to your auto UNLESS it says it will not cover it . This is actually very robust as a coverage because its impossible to list everything that can happen to a car for exclusions , so you can have coverage for the random things that happen to your car . If you look at your policy for OTC , nowhere does it mention that it will exclude -LRB- not cover -RRB- hail damage . This is good ; it means you can file a claim for OTC to repair hail damage to your auto . Here are a few things to understand about OTC with regards to hail damage : You have to pay your deductible for the repairs . Most often , this means that the insurance company will pay you all the money to get the car fixed EXCEPT for your deductible , which you then pay to the repair company that fixed you car . So if $ 3,000 worth of repairs was needed to fix your car from hail damage , and you have a $ 500 deductible , then the insurance company will give you $ 2500 -LRB- $ 3,000 - $ 500 deductible -RRB- so you can pay your $ 3,000 repair bill . The claim settlement might happen in another way , but the logic is still the same . Your OTC will pay the actual cash value of the car if the repairs are over a certain threshold -LRB- which is determined individually for each car -RRB- to make the car usable again . The company can literally scrap the car and pay you for it instead of repairing the hail damage . Keep this in mind for when determining if you want to file a claim as some cars arent worth much but could be in EXCELLENT condition for driving . You dont want to lose your car because you filed a claim for cosmetic damage , or keep the car and get a salvage title . Talk to your agent to make sure you have OTC . Make sure that the deductible is an amount you can afford to pay in a reasonable amount of time . Its no good to have a $ 500 , $ 1000 , or $ 2,000 deductible for OTC if you can not get the money or put yourself in a poor financial position for 30 + days because of it . Sometimes paying the extra $ 5-10 per month for a lower deductible makes sense in households strapped for cash . |
Is Life Insurance Mandatory? | Life insurance is not usually mandatory or by law such as car insurance and now health insurance . The exception would be if you were ordered by a judge in a court case such as a divorce or child custody case . The other situation causing life insurance would be a contractual agreement . Some examples of a contractual life insurance agreement would be a secured loan or a business partnership agreement known as `` buy sell life insurance '' . Other than these types of special arrangements life insurance is not considered mandatory , but if someone you care about depends on you for care or finances then out of responsibility you should carry life insurance . Remember life insurance is not for you , it is for them . |
Is Life Insurance Mandatory? | Purchasing life insurance is not mandatory , unless it is stipulated in a contract you sign or a loan that you take out . Of course , the insurance company will also decide if you have an insurable interest , allowing you to purchase coverage . But in the vast majority of situations , buying life insurance is not mandatory . |
Is Life Insurance Mandatory? | Is life insurance manditory ? Not in the same sense that health insurance will be next year . You will not be required to carry life insurance or face tax fines if you do n't . What this question brings up is should you carry life insurance ? My answer would be yes if there 's someone who cares enough about you to deal with your things when you 're gone . Do n't compound your loss to them . |
Do Insurance Companies Look At Psychiatric Records? | In respect to life insurance , underwriters are most concerned with conditions that impair or prevent a potential insured from completing daily tasks , interactions and living . In the event that your answers to the medical questionnaire on insurance application , attending physician statement & recordsor results from a insurance examindicate that you are being treated through therapy or medication , the underwriters will first seek clarification through your agent . Depending on the severity of the condition , the course of treatment and time elapsed since last episode or event related to your condition , the underwriter may not have much concern and thus not require additional information . Simply put mild conditions such as milddepression , anxiety or stress treated by counseling and low dose medicine may not require deep underwriting depending on the age of the insured and history of condition . More significant conditions , for example schizophrenia , treated with significant medication and therapy , will require additional records from treating physicians to ensure that the insured fits within their risk parameters . In your case , grief counselingcan soundambiguous ; if it were for the loss of a loved one , the absence of whom is not preventing your daily living , it should not require additional review . If the on the other hand , it is being used to cope with another traumatic event , additional questions or requests may be posed by the underwriters . A letter from your treating psychiatrist highlighting your improvements from treatment will help mitigate the need for additional information . In order to ensure that you get the best underwriting class , I suggest that you work with an independent agent that works with multiple carriers as different carriers each have their own points of view on various healthy issues . Additionally , question your insurance agent ! Ask them what experience , if any , have they had with placing business on clients such as yourself . At the end of the day , the most experienced agents will get the best underwriting results for their clients with the least disruption and scrutiny of one 's private issues . Please feel free to contact me to discuss your facts in order to give you more accurate information . |
Do Insurance Companies Look At Psychiatric Records? | Whether or not an insurance company will look at your psychiatric records after seeing a grief counselor for four years will partly depend on the type of policy you get , and the face amount . If you are applying for a small nonmed , final expense policy , it is doubtful that your psychiatric records will be reviewed . The exception might be if you had a hospitalization for depression , suicide attempt , or went on Disability for depression within recent years . Even then , there are some policies that will cover you without review of your medical records . Others will be more investigative . If you are applying for a medically underwritten policy of a face amount over $ 250,000 , and if you are also on medication for depression , I anticipate that many companies would order your psychiatric records . Some wo n't . If they do , they are bound by HIPAA laws to keep them confidential , and simple grief counseling that has not caused hospitalization , suicide attempt , or disability will usually not interfere with your ability to get life insurance . Using an experienced impaired risk life insurance agent who is able to choose the best policy from among many companies will be your best option , especially if you desire that your records not be reviewed . |
Do Insurance Companies Look At Psychiatric Records? | I can answer on behalf of disability insurance companies Yes , disability insurance carriers to ask to look at your psychiatric and counseling records if they see that youve answered yes to seeing a counselor on your application . For anyone who says no , but something pops up on their script check , they will ask for the records at that time as well . Its common for a psychiatric release form to be included with a HIPPA in the initial application . Please note that having seen a counselor or psychiatrist does not mean that youll have a mental health exclusion , but depending on your history and the records , its a possibility . |
What Does Disability Insurance Protect? | Disability Insurance protects your paycheck . Only people who draw an income can purchase Disability Insurance , and the benefit you can get is based on your income . If you were injured and unable to go to work , or got an illness that caused you to be off of work , or had complications in childbirth that kept you from going back to work as planned , Disability Insurance will pay a large % of your paycheck to you in cash each week . You can use this money just as you would have used the paycheck you earned through your job . So in essence , DI also protects your family , your home , and your lifestyle . |
What Does Disability Insurance Protect? | That is a great question ! I 'm glad that you asked . Disability insurance basically protects your income from disappearing if you become disabled , and unable to work for a period of time . While it wo n't completely cover your lost paycheck , it can cover a good portion of it , and if there is a workman 's comp payment also , you can probably get by without too much hardship . A disability plan makes great sense if you work in a career where it is a good likelihood that you could sustain an injury that would keep you out of work for several months , or if you live paycheck to paycheck and would be in serious financial hardship if an injury or illness were to strike . I hope that helps , thanks for asking ! |
What Does Disability Insurance Protect? | Disability Insurance protects your income . It protects your family from the extreme hardship they might experience if you were to lose your job due to disability . It protects your lifestyle , as much as it can be protected , after experiencing a serious illness or injury . It protects your creditors , your credit score , your integrity , your dignity , and your peace of mind . |
Is Knee Replacement Surgery Covered By Medicare? | Knee replacement surgery is normally a Medicare covered expense assuming the surgery is considered medically necessary and you are a good candidate for joint replacement . The cost of knee replacement is usually around $ 45,000 but the Medicare allowance is in the $ 11,000 range . If you have a good Medigap plan your share will be significantly less . |
Can I Buy Critical Illness Insurance For My Spouse? | You can , as long as your spouse is healthy enough to qualify for a critical illness plan . Medical underwriting , while not as strict as is required for individual major medical insurance , looks at your medical history and in some cases , also your family history . In most cases if you have had one of the covered conditions such as stroke , heart attack or cancer your application for critical illness coverage will be denied . |
Does Globe Life Insurance Ever Have Cash Value? | Globe Whole Life insurance does have some cash value ; Globe Term Life insurance does not . You can contact the life insurance company to ask for an illustration that shows how much cash value will be in the policy in the future . If they are unable to provide that , it will be shown on the policy when you get it . |
Who Does Mobile Home Insurance? | There are many companies that provide insurance for mobile homes . If you check the yellow pages in your telephone book -LRB- if you can remember what that is , -RRB- you should be able to find agents that handle mobile homes . You can also find the information by doing an on-line search . If you contact most insurance agents they can provide you with motile home coverage . It is not an unusual policy to find . |
What Is The Primary Purpose Of Life Insurance? | The purpose of insurance , in general , is to provide economic protection against losses that may be incurred due to a chance happening or event . An insurance policy provides this protection by accumulating funds to meet those uncertain losses . Human life value , which is what Life insurance protects , is what a person would earn , or what it would cost to replace the services of that person , in the future . The primary purpose of life insurance is to conserve and protect human life value so that others will not be too negatively affected economically in the event of the insured person 's death . |
What Is The Primary Purpose Of Life Insurance? | I tend to agree with Larry . Life Insurance primary intention is to provide a tax-free death benefit to beneficiaries upon death of the insured . You need to understand this part of Life Insurance before looking at all the benefits provided . Life Insurance can provide supplemental income to meet any need if funded correctly . Life Insurance is one of the only vehicles that can provide tax-free income , a tax-free death benefit ! Life Insurance is used by businesses for buy-sell situations , key employee needs , executive retirement plans , etc. . When the Life Insurance is funded correctly , which by the way , it is my experience that most agents do not do , it will become a true asset designed to meet your future needs . |
What Is The Primary Purpose Of Life Insurance? | Or , in other words , to provide an income-tax-free lump sum of money to the beneficiary upon the death of the insured . I 'm supposed to provide at least 50 words to make the answer acceptable , so I 'll just add that there may be other useful riders on a life policy , but keep the planning focus on the face amount or `` death benefit '' . |
What Is The Primary Purpose Of Life Insurance? | What is the primary purpose of life insurance ? What everthe policy owner wants it to be . Every purpose can be different . While dating myself a little bit by saying this . . Life insurance is the silly putty of financial products . It is a product that has many forms and can be used in many ways . One person 's primary purpose may be someone else 's 5th choice . It 's not unheard of to start a first time client meeting with the question `` what do you want your life insurance to do ? '' |
What Is The Primary Purpose Of Life Insurance? | Life insurance was invented to protect family members and business associates from financial exposure at the untimely death of the wage earners or partners to indemnify their beneficiaries from the proceeds of the policy . Those proceeds may have tax advantaged features depending on the ownership of the policy . |
What Are The Risks Of A Fixed Annuity? | What are the risks of a fixed annuity ? Well the biggest risk is `` inflation '' risk . That is the money being saved in an annuity is not earning enough to keep pace with or be ahead of inflation . Annuities purchased from financially strong companies do n't suffer some of the other risks involved with investing . Actually annuities tend to be very safe choices and as such are not strong return choices , but that is always the side effect of safe investing . For many the idea of putting their retirement money at risk of loss is too much and so annuities become good choices for them . |
What Are The Risks Of A Fixed Annuity? | That is a great question ! I 'm pleased to hear you ask it , as it is really important to understand the risks of investing before you make that investment . The good thing about a fixed annuity is that you know exactly what your return will be . The risk lies in what if that interest rate you will receive does not keep up with inflation over the life of the annuity ? Inflation is best described in the amount of rising costs you pay for everyday things . If your annuity pays 1 % , but the price of milk and gas goes up 3 % , yes , you will have an increase of 1 % in your annuity value , but it will only pay for 98 % of what it would buy today . You would in effect be losing 2 cents on every dollar you put into the annuity . It is important to work with a good advisor , who can help you find an annuity that will give you a rate that is sufficient , or that provides built in adjustments . If you need help , please feel free to drop me a line , okay ? I 'm happy to help . Thanks for asking ! |
What Are The Risks Of A Fixed Annuity? | The main risk people face with fixed annuities is the buying power of the payments you receive because they do not have a cost of living adjustment -LRB- COLA -RRB- built in . Annuities offering COLAs are available , but generally require a higher premium to account for the increase in payments . How the annuity is structured is very important . You have a number of options to choose from when creating the annuity that will influence your monthly distributions . If the policy is set up to only make payments while you are living -LRB- a single-life annuity -RRB- , then once you die the payments cease and whatever funds were paid into the annuity are not returned . You can also structure the distributions to continue until the spouse dies -LRB- a joint life annuity -RRB- . Another structure or to force payments to continue for a specified number of years -LRB- and go to a tertiary beneficiary - e.g. your kids -RRB- . The drawback of a period certain annuity is you can run the risk of outliving the annuity -LRB- e.g. you 're 65 years old and you have a 15 year period certain annuity that makes payments to you until age 80 . If you live to 81 , you will no longer have those funds to depend on each month . -RRB- . It 's important to consult with an experienced annuity broker who can discuss your situation with you on a personal level and help you create an annuity that will best serve your needs . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
What Are The Risks Of A Fixed Annuity? | The largest risk of a fixed annuity is the loss of buying power . Safety of principal and guaranteed payments is the strong suit of an annuity . An annuity forms the base to protect the retirement income stream . There are certain predictable expenses such as food , shelter and clothing which can be addressed with an annuity . Inflation can erode the buying power of the annuity over time . |
Does Renters Insurance Protect The Home Owner? | Renters insurance purchased by thetenanthas liability protection coverage for that tenant . Should the tenant commit a wrongful act for example liketheirdog bit a friend the tenants insurance mostlikelywill respond . If the tenant has no insurance the next person up the chain to be sued is the homeowner . So in thatscenariothe renters insurance does offer a level of protection to the homeowner . |
Does Renters Insurance Protect The Home Owner? | Some tenant 's policies will allow the building owner to be an additional insured on a policy . This may offer some protection to the landlord , but it would be unwise to rely on this liability coverage . Building owners should look into a dwelling fire or possibly a businessowner 's policy to protect themselves and their assets . |
What Is High Value Home Insurance? | There are certain insurance companies out there that specialize in the `` Luxury home '' market . Some the value must start at $ 750,000 and some are at $ 1,000,000 but then they give you much higher limits on things fine art , jewelry , wine collection , sewer back-up , etc. . Fireman 's Fund , ACE and Chubb are three such companies that have these policies . |
Why Purchase Critical Illness Insurance? | Critical Illness Insurance can cover medical co-pays , transportation to treatment centers , child care , etc. . People often think their medical plans will cover more than hospital and medical expenses , but they dont . Critical Illness Insurance , unlike DI , is perfect for high-risk jobs , non-working spouses , active military and the self-employed . Without the burden of extra bills , you can focus on healing . |
Why Purchase Critical Illness Insurance? | One reason to purchase Critical Illness Insurance would be to set your mind at ease if you were to be diagnosed with a serious illness . For persons who have gone through that with a family member , both that experience and the fear of having the genes for that illness , can eat at them . Knowing that there would be a pool of money to use if that fear materialized , can be very comforting . |
Why Purchase Critical Illness Insurance? | If you have a health history of critical illness in your family , you should consider securing critical illness insurance . If older relatives have critical illness the resulted in assisted living or nursing home confinement , you should consider securing critical illness insurance . If you have indications that you may be susceptible to a disease , you should consider critical illness insurance , while your health condition is reasonably good . |