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Why Do You Need A Retirement Plan? | Why do you need a retirement plan ? You do n't . Not having a plan is a plan in it 's self . You can do nothing for your retirement and hope that social programs are available to provide you food and shelter . OR you can plan , set aside and invest for your future and have a say in it . You do n't have to have anything , all having something does is give you a choice . |
Does Homeowners Insurance Cover Fences? | It may provided that your policy includes coverage for additional structures on your property . Talk to your insurance Professional about the particular terms and conditions of your policy and ask if this is included . In most cases , it is and the coverage is usually limited to 10 % of the current dwelling amount . Any loss settlement would , of course be subject to your property deductible. , |
What Is Included In Full Coverage Auto Insurance? | The full coverage portion of your auto insurance is Collision which covers your car in the event of an at fault accident . Comprehensive or Other than Collision covers your car for things like animal strikes , vandalism , tree limbs falling on your car , rocks thru your windshield , anything that is not a collision . Many policies also include towing . Some companies have a few other little bells and whistles . |
What Is Included In Full Coverage Auto Insurance? | Full coverage really is not the best choice for describing the coverage 's that are included with that term . What makes a policy have full coverage is that the insurance will pay for your loss minus the deductible you choose . Many people choose higher deductibles for comprehensive and collision of $ 1000 the after that amount you pay they pay the rest . In our area here in Montana most of the time there is only about 3.00 a month difference between a 100.00 deductible and 500.00 deductible it is much easier to come up with the 100 rather then 500 discuss your options with your local agent . Full coverage is meant to help you recover the cost if in the event of a loss less your deductible . |
Does Your Medicare Number Ever Change? | Your Medicare number will normally stay the same unless you request to change it . Also , it normally does not need to renewed or replaced , so if you get a call asking for your Medicare number for purposes of renewal , do not give out that information . If you have asked for a replacement , it will be done by a written request . Medicare numbers can change if the circumstances for how your are receiving Medicare have changed . E.g. . You were receiving Medicare through a spouse who passed away , and remarried and are now receiving Medicare through a new spouse . |
Can You Get A Medicare Card Online? | Once you sign up to receive Medicare benefits -LRB- this can be done online at the social security website , ssa.gov -RRB- , they will send you your Medicare card -LRB- it 's a red , white , and blue card -RRB- in the mail . I do n't believe they allow you to download one to print off . Mailing the card to you is the standard procedure . |
Can I Get Life Insurance When Pregnant? | It 's going to depend on what trimester of pregnancy the person is in . Usually the first two trimesters it is not a problem as long as there is a good record of prenatal care and things are considered to be a `` normal '' pregnancy . The third trimester can be a bit dicey as the closer the potential insured gets to delivery , the more a insurance carrier will want to wait . Your chances are pretty good if you are maintaing good health during the pregnancy and under a doctor 's care . Expect underwriting to go a bit longer than usual as doctor 's records will be asked for . Just do n't put it off till the third trimester if it is something you need to do . |
Can I Get Life Insurance When Pregnant? | I am not aware of any carrier that will issue a life insurance policy to a pregnant female . There are many risk factors to consider which make it impossible to properly price the risk of a life insurance policy on a woman that is pregnant . Every carrier I am aware of will not consider an application until the pregnancy has ended and the woman has been released from her doctor 's care . |
Can I Get Life Insurance When Pregnant? | If applying for a simplified issue policy that does not require exam , there are some carriers that will allow a woman to easily obtain life insurance while pregnant . However , she must be able to answer `` no '' to the question asking if surgery or hospitalization is anticipated for the near future . |
What Type Of Retirement Plan Is TRS? | The Teachers Retirement System -LRB- TRS -RRB- is a retirement plan for teachers by state , i.e. each state has their own plan with specific provisions and benefits . But it 's basically a defined contribution plan , generally through payroll deductions , so the contributions are pretax and accumulate tax deferred until retirement where distributions are taxed as ordinary income . |
Can You Buy Renters Insurance Online? | There are plenty of online options for purchasing renters insurance . Many people prefer to call a local independent insurance agency , however . The are several reasons . Completion of all the questions on the application often needs the assistance of a licensed Customer Service Representative in the specific State where the rented residence is located . Also , many feel more comfortable working with someone with whom they know . |
How Does A Split-Dollar Life Insurance Policy Work? | A split dollar life insurance policy is not a type of insurance , but a way of paying for and collecting on life insurance so that it benefits two parties , usually an employer and employee . The policy is taken out on the employee as a benefit , reward , and/or way to retain them . Premiums and benefits are `` split '' by the two parties . The way the split dollar life insurance policy works involves how premiums are paid , who owns the policy , and how to divide the death proceeds , cash values and/or dividends.There are two popular ways to structure split dollar life insurance . Both designate the employee as the Insured . 1 -RRB- Endorsement . The employer is the owner of the policy and endorses it so that some or all of the death benefit will go to the choice of beneficiary of the Insured , when the insured employee dies . 2 -RRB- Collateral Assignment . The employee owns the policy and collaterally assigns some of the death benefit to the employer as reimbursement for premiums paid . To find out the best way to structure split dollar life insurance for business or family purposes , it is important to have correct financial and legal advice . Call a reputable life insurance agent or agency to start working on your split dollar life insurance policy . |
How Long Can You Keep A Roth IRA? | One of the advantages of a Roth IRA is that there arent any mandatory distributions as there are with many other retirement programs . A Roth IRA can be passed to heirs without losing any of the value of the account . The Roth account provides unusual flexibility and used wisely can save a great deal of money in retirement . |
Can I Take A Life Insurance Policy Out On My Grandmother? | Can you take out a life insurance policy on your grandmother ? That question , like most on this website , can not be answered with a straight yes or no . If your grandmother lives with you and you share in her income and expenses , you should be able to take out a policy of at least $ 100,000 on your grandmother . If you are buying a policy so that you can pay for her funeral , you should be able to take out at least $ 15,000 on her . If neither of those are the case , you may not be allowed to take out a policy on your grandmother . It depends on the circumstances , the company , and the type of policy you are buying . Insurance fraud often involves people taking out life insurance on older persons who have a short life expectancy , by younger people who have no financial interest in the lives of the Insured . Life insurance companies each strive to prevent that type of fraud in their own way , and thus you will find different regulations involving whether or not a grandchild can take out a policy on a grandparent . Suffice it to say that if the cause is legitimate , it is usually OK to take a life insurance policy out on a grandmother . |
Can I Take A Life Insurance Policy Out On My Grandmother? | As long as your grandparent qualifies to be insured and is willing to go along with the process , including application and medical underwriting , and gives you permission , yes . There must be an `` insurable interest '' for a person to take out a life insurance policy on another person , and relatives generally fit that description . Your grandmother must qualify by being of an insurable age , usually under 85 , in some cases 80 or younger . |
What Is Mutual Whole Life Insurance? | A mutual life insurance company is owned by their policy holders who select a board of directors , generally by a proxy vote to operate the company on their behalf . Every year the board of directors generally declares a dividend which in turn is distributed pro rata to their policy holders . |
Is Leaking Roof Covered In Homeowners Insurance? | It may be depending upon the cause of the damage that is resulting in this leak . Talk to your Insurance Professional about the specific terms and conditions of your policy to better understand the coverage and limitations . In general , if the leak is the result of damage that is caused by a covered peril , they subject to your policy deductible , you more than likely have some coverage . |
What Is The Difference Between Life Assurance And Life Insurance? | It is just terminology , there is no real difference . Some companies like to use the word assurance because they feel it promotes a better image of the product . It all falls under the umbrella of insurance , they pay at the death of the insured and may build cash value . Do n't get confused with marketing terminology . |
What Is The Difference Between Life Assurance And Life Insurance? | Life Assurance is a term more commonly used in the United Kingdom , but it describes the same basic contract that is known as life insurance in the United States and elsewhere . Life insurance is a contract where a company and a policyholder agree that in exchange for a specified amount of money , the insurance company will provide a specified death benefit if death occurs during a specfied period of time . |
What Is The Difference Between Life Assurance And Life Insurance? | In Canada , you will see both Life Insurance companies and Life Insurance companies . As mentioned Assurance is UK English and Insurance is American English . Generally you the older Canadian companies tend to use the UK English and the newer use both . If you have further questions , please do not hesitate to contact me . |
When Are Annuities Used? | There are two basic types of annuities , immediate and deferred . Deferred annuities are used as money accumulation vehicles , since they are issued by insurance companies they have features and guarantees other investments can not match . These are of particular interest to self - employed -LRB- any age -RRB- , OR those within 10 to 15 years of retirement or already retired . Guaranteed Investment Annuities -LRB- GIAs -RRB- are similar to Guaranteed Investment Certificates -LRB- GICs -RRB- more information is available at www.GuaranteedInterest.ca In Canada , variable annuities are called segregated funds or seg funds they are similar to mutual funds . More information available at www.ProtectandGrow.ca Immediate annuities provide a guaranteed income stream in exchange for a lump sum premium . They are used as part of a retirement income strategy to provide stability.They are often used to build a guaranteed income to cover fixed expenses . If have assets that are generating interest income and you do not need access to all the capital during your lifetime , the `` insured annuity strategy '' is worth exploring . The objective is to increase your current after tax income while preserving your asset for your heirs . Not for everyone , but the results can be quite dramatic , so it is worth a look . Annuities can also be used to assist in a number of personal and corporate planning strategies , too numerous and complex to be cover here . In Canada , if you are over 65 , income from Interest from a prescribed non-registered annuity qualifies for the $ 2,000 pension tax credit . Note : Interest from a Guaranteed Interest Annuity -LRB- GIA -RRB- also qualifies . GIAs are like Guaranteed Investment Certificates -LRB- GICs -RRB- but the are issued by insurance companies . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . |
What Is The Meaning Of Retirement Annuities? | Payout annuities are often called retirement annuities or income annuities . There are many different variations or options available : term certain , life annuity , joint and last survivor , indexed , etc. . Essentially , you exchange a lump sum of money for an income stream . Annuities are an important part of your retirement income planning and can be complex . An independent insurance broker can help you find an annuity that is right for you . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . |
Will Car Insurance Pay For A Cracked Windshield? | A cracked windshield is covered under the comprehensive portion of your policy . This section is subject to a deductible so the company will replace the windshield and you must pay the deductible . Driving with a cracked windshield is dangerous so get this replaced soon . If the damage is slight many companies will provide repair coverage under the comprehensive portion and will waive the deductible . |
Will Car Insurance Pay For A Cracked Windshield? | Great question , and a great answer , provided that you have comprehensive coverage on your car . Yes damage is covered , and it is wise to look at what the repair will cost , and at your deductible . If the cost to repair it is less than the deductible , it may make more sense to skip filling a claim . You would have to pay the deductible amount before insurance starts paying anyway , and you can avoid possible rate increases down the road . Thanks for asking ! |
Does USAA Drug Test For Life Insurance? | Yes , all carriers require a urine and blood test when applying for life insurance . The lab results are reviewed to check for drug use along with other tests such as cholesterol , blood sugar , liver enzymes , etc. . There are guaranteed issue or simplified issue policies that may not require blood or urine samples , but there are questions asked about drug use on the application that must be answered . |
Does USAA Drug Test For Life Insurance? | Yes , any life insurance company that requires a blood test , urine test , or oral swab in order to get a life insurance policy will test for the presence of illegal drugs and cotinine -LRB- an indicator of cigarette use -RRB- . This is called a medically underwritten policy . If using a No Exam policy , they do not require an exam and do not test for drugs , although they will usually ask about drug use on the application . |
Does Homeowners Insurance Cover Arson? | Not if the insured or resident of the household is involved in the arson . If the previous is not the case then typically you would be covered . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . |
What Is A Renters Insurance Policy? | A renter 's insurance policy covers your personal property when you do not own the residence you occupy . It also covers your liability , medical payments to others , additional living expenses and numerous other items . Typically , the cost is fairly cheap and an experienced broker in your area can easily compare the best plans for you . |
What Is A Renters Insurance Policy? | Your property is not covered by the insurance carried by your landlord . The landlord is not responsible for your personal property . If someone is injured on the property that you rent , you could be included in the lawsuit . Where will you go if the property you rent is suddenly uninhabitable ? If someone breaks in and steals your jewelry , television , computer and coin collection , you might want it replaced . Sometimes a landlord requires that you carry a tenants policy . Those are a few reasons to have a tenants policy . |
Where Do I Get Disability Insurance? | where do I get disability insurance ? In Washington State , you 'd get it from me ! ;-RRB- What you would want to do is meet with an agent and go over your options , with a great deal of time spent on understanding the definitions of disability . With disability coverage , the definition is everything . Without a good definition , the premium may be cheap , but collecting on a claim may be hard . |
Is Life Insurance Required In Ohio? | As an experienced Ohio broker -LRB- 32 years of experience -RRB- , I 'll answer the question . No . That was simple ! You are not required to purchase life insurance in Ohio . For additional information regarding Ohio life insurance prices , consult an experienced broker who lives in Ohio and who is a FULL-TIME agent as opposed to a consultant , navigator or any other part-time position . An experienced agent/broker will shop the major carriers for you and provide expert advice in the state they are most familiar with ... Ohio ! |
Is Life Insurance Required In Ohio? | The State of Ohio does not require Ohio residents to purchase life insurance . They also do not require employers to provide life insurance . Life insurance is still a voluntary purchase in every state , and you are free to purchase the amount and type of policy you want , and that fits your budget . |
Is Life Insurance Required In Ohio? | As a stand alone financial issue life insurance is not required in Ohio or any other state except by court decree in a divorce settlement . Banks may require life insurance to indemnify them against loan defaults because of the death of a business owner or partner . Thus far the state has n't equated life insurance with healthcare as mandatory . |
Does My Homeowners Insurance Cover Lost Wedding Ring? | Great question . Generally no , your Homeowners ' policy will not cover for anything that is lost . This is referred to as `` Mysterious Disappearance '' in your policy documents and is usually listed as a specific exclusion . That having been said , you can certainly obtain coverage for such a loss by working with your insurance professional and asking that the item be insured specifically either as a rider which is attached to your Homeowners ' policy or as a stand alone separate policy . You will need to provide a current appraisal and the item would be insured to the stated amount on the appraisal . Such riders or separate policies -LRB- commonly referred to as `` Personal Inland Marine '' -RRB- include much broader coverage than does a standard Homeowners policy and will cover for such a loss . |
Does My Homeowners Insurance Cover Lost Wedding Ring? | Great answer by Tom . Remember even items covered under an endorsement may be subject to a deductible and possible exclusions . Many homeowners policies limit the amount of coverage provided for personal items . These items would typically be covered under an endorsement and as Tom had stated previously covered for a stated amount or an appraised value . |
What Is Social Security Disability Insurance Benefits? | If you are fortunate enough to be awarded `` disability status '' under Social Security your benefit amount is based on how long you have been paying into social security and will reflect what your `` retirement benefit '' would have been if you had contiued to be employable . Obviously you want to avoid having to be classified as `` disabled '' the younger you are because you will find it very difficult to be classified `` disabled '' and your benefit amount will be minimal |
Who Has The Best Critical Illness Insurance? | It 's difficult to assign a ranking to critical illness . There are several good companies representing the critical illness market . That being said , Assurity Life insurance company is a major player in this arena and our group plan offers employees the opportunity to secure critical illness insurance at a discount through them . |
Who Has The Best Critical Illness Insurance? | There are a lot of great companies out there when it comes to Critical Illness . Here are a few things you need to pay attention to . The first is the companies rating . This will help you determine the companies financial strength and the ability to pay claims . The second is know the features of the plan . Not all Critical Illness plans have the same benefits . Some offer a return of premium less any benefits paid , some have hospital indemnity and accident riders , and some have a larger scope of coverage for types of illnesses . A few of my favorite companies are Mutual of Omaha , Assurant Health , American General , and MetLife . Each company offers unique features and price points , but these are just a few that are out there . The last factor that needs to be taken into consideration is underwriting . If you have had Critical Illness before most companies will not accept you . However there are a few that will . |
How Do I Know What Health Insurance Is Right For Me? | In all honesty the best way to evaluate your options is through consulting with a knowledgable insurance broker . There are many different structuring options and a great deal of technical details that can be navigated by a consumer however I would relate such a undertaking with representing oneself in a court of law , or self-diagnosing/treating ones medical issues . That being said one can gain valuable insights by factoring in ones history of medical expenses over a several year time line , ones potential exposure level to unforeseen medical events , this should help you benchmark the minimum level of coverage . One should then do a basic cost-benefit analysis -LRB- factoring in the historical information the cost of the desired coverage and ones income -RRB- to eliminate options that would be to expensive or that would not be effective risk management tools . |
Will Annuity Rates Go Up? | Annuity Rates are directly tied to the Fed Funds Rate & to 10 Year Treasury Rates . Both of these are at historical lows at the moment . Most financial experts claim that interest rates should rise over the next 5 years . If this happens , Annuity Rates will rise as along with them . |
Will Annuity Rates Go Up? | It will all depend . Any vehicle that pays you an interest rate is tied to a certain index . The interest rate will change according to that index . Annuities set their rates based on what Insurance companies feel is a reasonable rate of return based on their investment portfolio . These rates are typically fixed for a certain period of time and traditionally have been better than what banks and CD 's have been able to offer . When shopping for an annuity to purchase check out the Insurance companies you wish to invest in and make a purchase based on what you like about the company and their investment strategies . |
What Happens When I Cancel My Whole Life Insurance? | I ca n't imagine why you would want to just cancel your Whole Life insurance policy ! You know that you have the option of replacing your current policy with another policy and have all the value of the current policy transferred to the new policy ? However as you asked what happens when you cancel a whole life policy - what happens is you no longer have the insurance . If the policy has grown sufficient cash value to cover the surrender fees and have an excess , you should be able to receive the remaining cash value at the time of cancellation . You really should talk with a qualified Insurance Adviser and find out what your options are and then decide how to proceed . |
What Happens When I Cancel My Whole Life Insurance? | When you cancel your Whole Life insurance you are given the option to take the cash value that has accumulated , or to turn your policy into a reduced paid up policy . If you choose the latter , you will not owe any more premiums but will still have some life insurance coverage . |
What Is Term UL Life Insurance? | Term UL is a hybrid of Term and Universal Life Insurance . Some liken it to UL with a secondary guarantee , while other contend that they are different in many ways . The main differences that consumers will notice is that Term UL is offered at older ages , and for longer `` terms '' than traditional Term Life Insurance . While shoppers might be able to find similar Universal Life policies with secondary guarantees , it is easier to compare Term UL with other Term products , and thus , they are popular among some age groups . Another difference is that Term UL usually automatically converts to regular UL at the end of the `` term '' . |
Where Can I Cash My Deceased Mother's Life Insurance Policy Check? | You should be able to cash your mother 's life insurance check at your own bank , or possibly the bank that issued the check . The bank may choose to just give you $ 100 and hold onto the check until it has cleared before giving you the remainder of the death benefit . |
When Is Variable Universal Life Insurance A Good Idea? | Variable universal life -LRB- VUL -RRB- is a security and like all securities has the potential to lose money . In general terms VUL can be an income consideration if the potential buyer is in a high tax bracket and has a risk tolerance tolerance with a long term view of the financial results . |
Can I Get Life Insurance If I Use Medical Marijuana? | You can easily get life insurance coverage but most companies will classify the premiums as a smoker . There are however more than few companies that will provide non smoker rates based on frequency . In order to work with the carrier to get the non smoker rates it is important to have your marijuana legally prescribed . |
Can I Get Life Insurance If I Use Medical Marijuana? | Absolutely you can implement life insurance as a medical marijuana user ! Medical marijuana may be used in a variety of ways . If you do in fact smoke it , you may well get a `` smoker '' rating , which is n't all that big of a deal in terms of premium pricing . It is a higher priced rating that non-smoker , but not a huge difference . If you ingest the buds or the oils then the smoker rating wo n't apply ... unless of course you use tobacco . |
Can I Get Life Insurance If I Use Medical Marijuana? | Yes , you can get life insurance if you use medical marijuana . If you are purchasing a medically underwritten policy -LRB- one that requires an exam and medical records -RRB- , the reason for needing the medical marijuana will enter into your rating and price . You will also most likely be charged smoker rates . |
What'S Medicare And Medicaid? | Very good question ! Medicaid is medical coverage provided by the government for people who can not afford it and they fall into the income bracket that the government has chosen . Medicare is provided by social security for the elderly or retired and you are eligible when you turn 65 years of age . |
Where Can I Buy Renters Insurance? | Any carrier or agent in your area that handles homeowners insurance will possibly also carry renters insurance . If you have an agent or carrier that you currently have other insurance coverage with check with them first as you may receivingdiscount on each of the policies that you have with them by having more than one policy with them . |
Where Can I Buy Renters Insurance? | Most insurance professionals wh specialize in meeting the insurance needs of individuals and families should be able to help you find and secure Renters Insurance . Talk with your licensed professional agent about the coverage options available and be sure to ask about the advantages of `` bundling '' your renters , car insurance and life insurance ot take advantage of discount offers and build a solid and custom insurance solution to meet your particular needs . |
How Much Is Family Health Insurance? | Family health insurance with an effective date of 1/1/2014 will be available on the Silver , Bronze , Platinum , and Gold policies on your State or Federal exchange . The costs will vary depending on how much deductible you choose and your age and the age of your spouse and the age of the children Can you get on www.healthcare.gov ? If so , you should be able to get a quote . If you prefer you can still get health insurance policies from companies like Humana or United Health care and you can just call their customer service number to get a quote |
What's Covered Under Homeowners Insurance? | Riot , explosion , vandilism , smoke , hail , aircraft , wind , and fire are the main things typically covered by a homeowners insurance policy . Please read your policy completely to know what is covered and what may be excluded by the policy or contact your local agent to have them go over the policy with you . |
Does Cobra Cover Disability Insurance? | The US Dept of Labor 's `` An Employee 's Guide to Health Benefits under COBRA The Consolidated Omnibus Budget Reconciliation Act of 1985 '' states the following : `` Life insurance is not considered ` medical care , ' nor are disability benefits ; and COBRA does not cover plans that provide only life insurance or disability benefits . '' Unfortunately , Disability Insurance is not covered by Cobra . |
Does Cobra Cover Disability Insurance? | Does Cobra cover disability insurance ? No , at this time Cobra continuance options do not include disability insurance . You may check with the disability carrier to see if you can continue the policy on an individual basis . Some plans allow for this , some plans do n't . It is important to read through your benefit booklets to see what is offered up to you upon separation of employment . Some things you can take with , some things you ca n't . |
Why Do Annuities Have A Bad Reputation? | An annuity provides something that no other financial product offers , a lifetime of income payments . Some planners think that they can do the same thing and will run projections to your age expectancy and predict a percentage of chance that the plan will work . They get a great deal in fees and commissions but criticize annuities because they hope to provide a higher monthly payout , however there arent any guarantees and what about living past your life expectance , half of the population does . |
Why Do Annuities Have A Bad Reputation? | Why do annuities have such a bad reputation ? Think of it in the same way people view certain breeds of dogs . Is it the dog that is truly bad or the owner who 's made it that way ? Annuities are a fine product that can work very well for most people with a variety of needs . Where problems occur is when the details inside the annuity are n't explained clearly and the fit is n't really right for the customer . |
Why Do Annuities Have A Bad Reputation? | Annuities have a bad reputation from persons that may not fully comprehend the advantages of owning an annuity . Also , some of these `` experts '' are compensated indirectly -LRB- or directly -RRB- by entities that compete against annuities . Hmmm . That 's a bit odd ! Regardless ... make up your own mind by consulting with an experienced financial planner with no bias . |
Why Do Annuities Have A Bad Reputation? | That is an excellent question ! As with most things , you have to look at them carefully , and see how they are best meant to be used . In most cases , the people that will talk the worst about that thing will have either misunderstood it , or not used it correctly . Because it did n't do as they expected , they talk bad about it , and give it a bad reputation . Annuities are a complex investment vehicle , and are not the best investment for everyone . Many people have learned this the wrong way , either because they did not understand what they were purchasing , or because it was not clearly explained to them . Some folks will disparage another form of investment if what they are trying to sell you pays them a salary , or a commission . It 's along the lines of the question '' Ever wonder why your stock broker/mutual fund manager drives a better car than you do , if he 's working with your money '' ? Annuities can be excellent retirement vehicles if they are the right vehicle for you . They can be very safe , and can provide a secure source of income . So if there is a bad reputation to them , it derives from being misinformed , or misused , and not because of the product itself . I hope that helps , thanks for asking ! |
Why Do Annuities Have A Bad Reputation? | In addition to Ed Harris comment on this , there has also been a few bad agents who have sold inappropriate annuities to individuals . That is why laws have been set up to make sure that an annuity is suitable for the individual . When you purchase an annuity you must fill out a suitability form . If the company see 's that the annuity is not suitable they will not issue the annuity . |
Can Married Children Stay On Parents Auto Insurance? | Generally married children can not be on the parents policy . What happens if you try to hide this `` material fact '' and you have an accident and now you need to file a claim ? Usually if you are on your `` parents '' policy the parent is the `` primary '' driver and you are a child that just drives your parents car sporadically . If you or your spouse have a vehicle and you have the car financed in your name and your parents are not on the note-can you say Red Flag ? |
Can Married Children Stay On Parents Auto Insurance? | There is some variance when it comes to specific details by generally yes they can as long as the parent maintains ownership interest in the automobile that is covered under the policy . The parent should be well advised of the fact that claims experience does effect rates with most carriers and as such claims made by adult children -- even if they are no longer included in a parent 's policy -- can affect future premiums for the parent . |
What Does Medicare Gap Insurance Cover? | In addition to what Bob has said , I would recommend picking up the excellent government booklet named Choosing a Medgap Policy . You can download it free from the Medicare website or order a paper copy free . Your Medicare Insurance broker can supply you with free copies of these as well . The chart on page 11 -LRB- of the 2012 version -RRB- makes it easier to understand what each Medicare Supplement Plan covers . The hardest thing for most people to accept at first is that the Lettered Plan is what makes the difference in your coverage NOT the brand of the insurance company you buy it from . People start out thinking that AARP 's plan is different from Gerber 's plan or Aetna 's plan . It 's hard for them to accept that the brand makes no difference . It 's the lettered plan that makes the difference . Once you choose which lettered plan you want , then you shop the different companies prices on the plan you choose . Your insurance broker should be able to show you the rates for all the companies that you want to consider . |
What Does Medicare Gap Insurance Cover? | Medicare gap insurance , Medicare supplement insurance , Medigap ... all the same . Like Kleenex and tissue , the terms are interchangeable . Medigap plan F is the easiest to explain . It covers everything approved by Medicare Part A and Part B but not paid by Medicare . Plan F covers deductibles , copay 's , coinsurance . Other plans -LRB- A - N -RRB- cover something less than F but most are comprehensive . Plan F is the most popular , purchased by about half of those who buy Medicare supplement plans . Plan G is next followed by plan N . The other plans are considerably less popular . |
Can A Business Deduct Life Insurance Premiums? | Life insurance is not deductible.That being said , life insurance can be part of the annual contribution in some tax deductible qualified defined contribution plans . Participating whole life can be up to 49.5 % and universal life can be up to 25 % of the annual contribution . There will be an economic benefit tax because of the death benefit itself is an extra item beyond the accumulating cash values . |
Does Insurance Cover A Home Health Aide? | Medicare and most health insurance plans will not cover a home health aid . There are government benefits available for veterans that may provide some funds to help pay for aid if you qualify . Some states have Medicaid waiver programs that could help . A good elder law attorney or financial planner who specializes in Medicaid and other benefit planning may be able to help you qualify for these benefits and protect your assets . |
How Are Group Health Insurance Rates Determined? | Health insurance issuers -LRB- i.e. , licensed entities -RRB- in the individual and small group markets must consider all enrollees in all non-grandfathered health plans issued in a particular state to be members of a single risk pool when developing rates and premiums for plan years -LRB- in the individual market , policy years -RRB- effective on or after Jan. 1 , 2014 . Each issuer must have one individual market pool and one small group market pool in each applicable state . States may choose to require issuers merge these pools . The final rule also requires : Each issuer in a state will have an index rate for each of the individual and small group pools for each plan year -LRB- policy year , in the individual market -RRB- . The index rate is based on the total combined claims costs for providing essential health benefits within the single risk pool . If there is not enough claims data available , issuers may use any reasonable source of claims data , including claims from grandfathered business . There may be market-wide adjustments for risk adjustment and reinsurance programs as well as Exchange user fees . Premium rates for a particular plan may vary from the market-wide index rate only by several enumerated factors . For example , issuers may modify the market-wide index rate at the individual plan level to adjust for administrative costs -LRB- other than Exchange user fees -RRB- , so long as actuarially justified . Plan-specific adjustments to the market-wide index rate must not reflect differences in health status or risk selection . Issuers are expected to use pooled allowable claims data as a basis for calculating the plan-specific actuarial value instead of using the HHS actuarial value calculator . Fair Health Insurance Premiums -LRB- applies to non-grandfathered plans -RRB- - Health insurance issuers may vary the premium rate charged to a specific non-grandfathered individual or small group from the rate established for that particular plan only based on the following factors : family size -LRB- individual or family -RRB- , geography -LRB- rating area -RRB- , age -LRB- within a ratio of 3:1 for adults -RRB- and tobacco use -LRB- within a ratio of 1.5:1 -RRB- . |
What Is Good Health Insurance For Pregnant Women? | I am glad that this question was asked . Now that the Affordable Care Act is in force you will be able to buy individual insurance that will cover maternity even if you are already pregnant . Prior to Jan. 1 , 2014 it was virtually impossible to find an individual policy to cover that . It was mostly found in a Group Health Insurance Plan from your employer . As long as you stick with one of the major insurance companies you will be fine . I would shop around and find the plan that makes sense to you but no matter who you but it from as long as it is a qualified health plan then the policy has to cover the 10 essential health care requirements . All you must figure out is deductible and coinsurance . If you pay a higher premium per month then you will have low or no deductibles , If you want a lower monthly payment then you may have higher copay 's and deductibles at the time of service . |
Does Homeowners Insurance Cover Damaged Jewelry? | Damage to jewelry typically would not be covered under a homeonwers policy . Lost or stolen jewelry is a coverage that is provided under most homeowners policies with specific limitations . Please read your policy completely to understand the coverage that is provided and any exclusions that may be contained within the policy or contact your local agent to have them go over the policy with you . |
Does Life Insurance Pay For Funeral? | The death benefit proceeds from life insurance are paid to the beneficiaries of the policy . The beneficiaries , unless otherwise directed , can spend the proceeds as they see fit . Generally final expenses like funeral costs fall upon the family , i.e. commonly the beneficiaries . Most beneficiaries pay outstanding debt , the number one use of life insurance death benefit proceeds . |
Does Life Insurance Pay For Funeral? | Yes , Life Insurance pays for funeral bills and any other expenses associated with final expense needs . The funeral life insurance policy can be purchased for any face amount with a relative or friend as the beneficiary , plus a collateral assignment to the funeral home . That way the funeral home will get what they are owed with the remainder going to your beneficiary . Having Life Insurance for funeral needs is handy because it not only can cover the funeral , but cemetery , transportation for special guests to get to the funeral , and other costs that are incurred upon death . In fact , the remainder of the death benefit can be used for anything at all that the beneficiary chooses to spend it on . |
Does Medicare Automatically Start At Age 65? | If you receive Social Security benefits at age 65 , Medicare automatically starts at age 65 . Medicare will automatically enroll you in Part A and Part B . If you are not yet receiving Social Security benefits , you can start still start receiving Medicare Part A and B , or you can keep Part A and opt out of Part B until your group coverage ends . |
What Does Auto Insurance Provide? | That really depends on the type of policy that you have and the endorsements that you have with it . Auto insurance typically at minimum protects you from some financial hardship in case of an accident . If you have liability only coverage this provides coverage to pay for injuries sustained by persons in the other vehicle and coverage for property damaged in the accident up to the limits carried . Full coverage typically includes collision coverage which provides for payment of damage to your vehicle in an accident up to limits carried and other than collision that provides for vandalism , theft , and other things listed within the policy up to the coverage limits . Always remember every policy is different . Read your policy over fully to determine what is covered and how or contact your local agent to go over the coverage of your policy . |
How Does A Medigap Policy Differe From A Long Term Care Policy? | A Medigap policy , also known as a Medicare Supplement policy is exactly that . It pays for many of the bills left over after Medicare has paid their share . However , they do n't normally pay anything if Medicare does n't pay first . Some Medigap plans also have some long term care benefits added . You should check with an insurance broker for your state to see what is offered where you are . Medicare only pays for a certain number of days in long-term care . Once those days are up , you are responsible for the rest of the bills . Long term care insurance is used to pay for this sort of situation . Normally , it will start paying a set number of days after you begin to need long term care , and continues until you have used up the money in the plan . Medicare and Medigap pay for the first part of your long term care , then LTC insurance takes over . |
What Is Critical Illness Life Insurance? | Critical Illness Insurance is a policy that will pay you a lump sum of money if you are diagnosed with a serious health condition . Some of the conditions that may be covered are stroke , advanced cancer , heart attack , MS , and Alzheimer 's . Some life insurance policies with living benefits will allow you to take out some of the death benefit in cash , so that you can combine your life insurance and critical insurance into one policy . |
What Is Critical Illness Life Insurance? | It is life insurance that will only pay if someone dies of specifically listed critical illnesses , such as cancer . It is usually substantially overpriced , since for not much more , you can usually obtain life insurance which will cover death from any illness . You should consult with an experience life insurance agent , who can discuss with you all the options available to you . Gary Lane , Agent , New York Life . 949 797 2424 . Thank you . |
What Is Critical Illness Life Insurance? | Just a guess , but it sounds like a life insurance policy with a critical illness rider . I would never suggest someone buy a life policy with a critical illness rider . There are so many drawbacks to this kind of arrangement , not the least of which is the tax treatment of the benefit . |
When Are You Eligible For Medicare At What Age? | Assuming you are referring to Part A , you become eligible to enroll when you are three months shy of your 65th birthday . If you are under age 65 and have a qualified disability , you can also apply . If you have end-stage renal disease -LRB- ESRD -RRB- you can also apply for Medicare benefits . You automatically get Part A if you receive benefits from Social Security or the Railroad Retirement Board . Part B is optional and has similar qualification requirements . An experienced broker and / or their qualified website can offer additional specific information and free quotes from the top companies . |
When Are You Eligible For Medicare At What Age? | Most people will become eligible for Medicare at age 65 , but you can enroll at a later date without penalty if you are covered under an employers group health insurance plan . You still want to enroll in Part A when you turn 65 , but you should consider postponing Part B until your group health coverage expires . |
What Does The Suffix On A Medicare Number Mean? | The suffixes on a Medicare number are codes that tell Medicare under whose Social Security number you are being given benefits , and your relationship to that person . It is called the Beneficiary Identification Code -LRB- BIC -RRB- . A Social Security number followed by A tells Medicare that the person filing is the retired or disabled worker who paid into the system and is drawing on his/her own Medicare benefits . B signifies the wife -LRB- over age 65 -RRB- of the primary Social Security number . To see what the entire list of suffixes visit this website : WEBSITELINK |
What Is FEGLI Life Insurance? | FEGLI life insurance is the life insurance provided to federal employees . FEGLI stands for Federal Employees Group Life Insurance . It is Term coverage equal to the salary of federal employees , rounded up to the next thousand , plus $ 2,000 . That is provided for free . Then there are three options from which to choose for additional coverage at group rates , paid by the employee . |
Can Car Insurance Rates Be Negotiated? | Not really , no . Insurance companies must file their rates and underwriting standards with your state 's Insurance Department . Once these are filed and approved , then the company must follow those guidelines and formulas when determining the rate they then offer you . Be sure that you are taking advantage of all the available discounts that your company offers in order to enjoy the best rate possible . |
Can Car Insurance Rates Be Negotiated? | That is a great question ! Not only can you , but you should ! It is never a bad idea to get competitors quotes , and see if your current company will match them , many will , especially if your driving record is good . You can also ask for discounts for multiple vehicles , policies , and drivers . You can also look into company discounts , AAA , or AARP discounts that may be available , if you only ask . Good luck , I hope you save a bundle ! Thanks for asking ! |
What Is Medicare Vs Medicare Advantage? | Medicare is a taxpayer funded health insurance plan -LRB- mostly -RRB- for people age 65 and older . Some people who are disabled and on Social Security can qualify for Medicare at younger ages . Medicare is a reimbursement medical program that does not have doctor or hospital networks . Medicare Advantage is a private health care system run by insurance carriers that sub-contract with Medicare to offer health insurance . Most Advantage plans have doctor and hospital networks and high out of pocket . They are great plans as long as you are healthy |
What Is Medicare Vs Medicare Advantage? | Medicare is a federally structured health insurance program for a specific population segment . There are four different ` parts ' to Medicare ; Part A , Part B , Part C and Part D . In the simplest terms , Part A deals with inpatient costs and typically is provided without additional cost to the beneficiary . Part B deals with the costs related with doctors and typically has a premium related to it . Part D is prescription drug coverage that is administered through private health insurers under strict regulation and has premiums associated . Part C is the Medicare Advantage you ask about . This is an insurance product that is administered through private health insurers under strict regulations through Centers for Medicare and Medicaid Services -LRB- CMS -RRB- and covers the same expenses as Parts A and B . In order to qualify for Medicare Advantage , you must be enrolled in both Medicare Part A and B. Medicare Advantage does not replace your Part A and B , instead it administers your health care under the guidance of CMS . All Medicare Advantage plans are required to provide at a minimum the same coverage as Original Medicare -LRB- Part A and B -RRB- , but most plans offer additional benefits . Many Medicare Advantage plans also offer prescription drug coverage -LRB- Part D -RRB- , some do not . Some Medicare Advantage plans have zero premium , some have premiums . |
How Does Someone Get Health Insurance? | That is a great question ! There are two good ways to apply for a health insurance policy . The best way is to go to the Affordable Care Act -LRB- Obamacare -RRB- site , WEBSITELINK and shop the plans there . I recommend doing this first , since the Act has a provision in it that allows for many people who qualify to receive discounts on the cost of the policy . These discounts may not be available through other online or private insurers , even for the same plans . The other route is to go to an agent who can help you find a policy that will work for you . Thanks for asking ! |
How Does Someone Get Health Insurance? | You can get health insurance by applying for coverage online . The easiest and most affordable way is to enroll through an experienced broker . There are no fees and you 'll save time , frustration , and perhaps money since you 'll be able to receive expert advice and unbiased information . You may also qualify for the new federal subsidy that could potentially pay 100 % of your premium . Live answer to your question provided by : Ed Harris - Health insurance broker with 33 years of experience and a top-rated website . |
How Does Someone Get Health Insurance? | There are essentially 3 ways a person gets health insurance coverage of some type in our country ; 1 -RRB- Health insurance through an employer based group plan where you or a spouse work 2 -RRB- Individual major medical insurance , purchased either inside or outside of the government marketplaces 3 -RRB- Government Entitlement Programs such as Medicaid , Medicare and other state and/or Federal programs An experienced and knowledgeable insurance broker representing multiple insurance carriers can guide you through the system for the first 2 options . And , yes , you can go online and shop and buy health insurance and you might be great at that . However , most people are n't comfortable with the complexities of shopping their own health insurance and health care reform has made telling the differences between health insurance plans more difficult than ever . So , get some free personal help from a person who understands your needs and your market area . |
What Do I Need To Know About Medicare Open Enrollment? | Your Medicare Supplement open enrollment is actually a one-time 6-month period that starts the first month that you are age 65 -LRB- or older -RRB- AND enrolled in Medicare Part B . This period gives you guaranteed issue rights to buy any Medicare Supplement policy in your area with no health restrictions . The Medicare Advantage -LRB- Part C -RRB- and Medicare Drug Plans -LRB- Part D -RRB- have an annual open enrollment that starts October 1st each year . With this open enrollment period you can compare plans beginning on October 1st . You can make changes beginning on October 15th and ending on December 7th . The plan changes take effect on January 1st . |
What Do I Need To Know About Medicare Open Enrollment? | I assume you are referring to the annual enrollment that occurs in Oct , Nov and Dec of each year . Open enrollment is a time when those with Medicare Advantage Plans -LRB- MAPD -RRB- and Medicare Part D -LRB- drug plans -RRB- can make a change in their coverage . There are few restrictions and generally no medical underwriting . If you have ESRD you can not enroll in a new MAPD plan . If you have original Medicare and a supplement -LRB- Medigap -RRB- plan , you can change plans at any time provided you are in good health . Some states allow you to change Medigap plans on your birthday or plan anniversary , but most states allow you to make changes only through medical underwriting . |
How Long Can Children Stay On Parents Health Insurance In Illinois? | Dependents are allowed to stay on the parents policy up to the age of 26 . After that , they must find their own policy which will shortly be attainable through the insurance marketplace . I would encourage you to work with a local agent regarding the marketplace as well as other options available . |
How Long Can Children Stay On Parents Health Insurance In Illinois? | Your children can remain on your health insurance plan until age 26 . After that they would need to apply for their own plan . Good news is ! They are eligible to obtain coverage through the marketplace and qualify for the SEP -LRB- Special Enrollment Period -RRB- . Depending on their income , they may also qualify for tax credit 's as well ! |
How Do I Check If My Car Insurance Is Valid? | I not certain what you mean by valid but , I would first suggest looking at your insurance card that you keep in your wallet or car . This will show the effect dates of your coverage . If you do not have your insurance card then call your local agent to have them look up your coverage dates for you . |
How Do I Check If My Car Insurance Is Valid? | The term `` valid '' might have a couple different meanings . The first might be whether or not your auto insurance policy is in force . Normally , if you have paid your premiums and you have not made any changes to your policy that would make you ineligible - your policy should be `` in-force '' . As previously stated , you need to check your insurance ID cards or policy delarations page to confirm the effective and expiration dates for your policy . The other situation where you might find the term `` valid '' is if you lease a vehicle . In this case , the bank or leaseholder , which is the actual owner of the vehicle might require you , the lessee , to carry minimum liability coverage on your insurance policy . A normal amount of liability coverage that you may be required to carry would be 100,000 / 300,000 / 100,000 with deductibles for comprehensive and collision no higher than $ 1,000 . If your policy affords coverage to meet these requirements , the leasing company would deem your coverage to be `` valid '' . Hope this helps . -- @MooneyInsurance |
Why Should One Buy Life Insurance? | If you love someone you need life insurance . Do you want your loved one to be forced to try to come up with money to pay the high cost of funeral and final expenses in a time of grief ? Can your spouse or loved ones afford to pay the debt you leave behind ? Do you want your spouse and children to be able to continue to live in the home you worked hard to provide ? If you have no debt , no wife or kids and no loved ones you still must be buried or cremated . You should at least have enough insurance or funds set aside for that ! |
Why Should One Buy Life Insurance? | One should buy life insurance for many reasons including , but not limited to : * It will allow youto provide for your family or loved ones after you are gone . * It will protect your home or your business if you were to die too young . * It can take care of your final expenses so that responsibility does not fall onto your survivors . |
When Is One Eligible For Medicare At What Age? | Normally , one is eligible for Medicare at age 65 . Enrollment for Part A is automatic based on prior employment . Persons under age 65 can be eligible if they qualify as disabled by Medicare . If one becomes disabled , they should apply to Medicare to determine if they qualify for Medicare . |
Is Etrade Good For Roth IRA? | A Roth IRA is not related to etrade in any direct way unless you simply have your Roth IRA as part of your etrade account . Let 's look at the basic definitions . A Roth IRA is an Individual Retirement Arrangement -LRB- see IRS Publication 590 -RRB- that is generally not taxed if you meet certain conditions . Your Roth IRA can contain a wide variety of financial products including stocks , bonds , mutual funds , CDs , annuities and much more . Etrade is generally considered an online discount stock brokerage service for self-directed investors . You can open a Roth IRA at thousands of institutions . One of those financial institutions is etrade . Whether that would be `` good '' is largely dependent on you and your choices of how you invest your Roth IRA funds . |
Can I Buy Auto Insurance Without A Driver'S License? | Yes , under certain circumstances you can purchase an auto policy without having a license . It is going to depend on several factors . Some companies will allow another licensed driver to be first named insured on an auto policy for a vehicle that you own . A comprehensive only policy may be an option as well . This will cover the vehicle for physical damage other than collision while it is stored . There is no liability coverage afforded with this sort of policy . If your license is suspended , I am aware of one company that will write a policy in your name . They then stipulate that your license be in good standing within 30 days of policy inception . Remember , companies offer different coverage and must operate under different rules from state to state . Talking to a broker is most likely your best bet . Good luck ! |