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Do I Need Medigap If I Have Medicare Advantage? | You are not allowed to have both a Medigap and Medicare Advantage plan . Even if you were , you do n't need both . When you enroll in a Medicare Advantage plan you are essentially in a privatized Medicare plan . Your claims are handled by the insurance carrier . Claims are filed with the carrier , not Medicare . Any issues you have are handled by your carrier . If you have original Medicare , you should consider a Medigap plan to limit your out of pocket exposure . In this arrangement your provider files the claim for you with Medicare who adjudicates the claim then sends it on to your Medigap carrier . |
What Is A 1035 Exchange From Life Insurance To An Annuity? | A 1035 exchange is an IRS code section that allows a tax free transfer of cash vales from one annuity policy to another annuity policy or a life insurance policy to an annuity policy . This is also an opportunity to transfer basis in a policy as well for future use . You can not use section 1035 to transfer cash values from an annuity policy to a life insurance policy . |
How Do You Become Eligible For Medicare? | Most people become eligible for Medicare at age 65 but there are some situations where someone under 65 can receive Medicare , as well . 1 -RRB- If you have a disability and have been receiving SSDI for more than 24 months , you will automatically be enrolled in Medicare in the 25th month . 2 -RRB- If you have been diagnosed with End Stage Renal Disease , are on kidney dialysis or had a kidney transplant , and a number of other qualifying factors , you are eligible to receive Medicare . Speak to a representative for details as there are many qualifications involved . 3 -RRB- You have ALS and have enrolled for SSDI . Note : Railroad workers will have some different stipulations . For all of the above , contact Social Security at 800-772-1213 for accurate and up to date information . |
Does Renters Insurance Cover The House? | If you are renting a house , the renters insurance that you purchase may cover damage to the house for which you are held liable under the liabnilty protection portion of your policy . For example , if say you use a faulty extension cord that is found to be the cause of a fire which damages the house , then your loiability coverage wil be used to pay for those damages . Remember to be sure to have enough liability protection ion your renters ' poplicy . Most folks focus on having enough presonal property coverage to protect the things they own . Remember that if you do anything to damage your rental home or unit , you are responsible for the repair of those damages . |
Can Life Insurance Policies Be Contested? | Life insurance has a two year contestable period after which it is extremely difficult for life insurance policies to be contested . Even during the first two years , the insurance company can only deny coverage for material misstatements -LRB- information that was withheld from , or misstated on , the application that is serious enough that it would have caused the policy to be altered or denied -RRB- . Other things that might cause a life insurance policy to be contested are questions as to whether the policy was in force at the time of death , or death as the result of suspicious circumstances -LRB- e.g.suspected suicide in the first two years , or murder of the insured by a beneficiary -RRB- . Most life insurance policies will never be contested because death will occur after the two year period . For those that are contested , very few ever result in the death benefit not being paid . |
What Exactly Does Medicare Supplement F Cover? | Medicare Supplemental Plan F covers 100 % of what Medicare does n't cover . Keep in mind , when you have Supplemental -LRB- AKA Medigap -RRB- Plans , Medicare is your primary insurance provider . For medically necessary procedures , Medicare Parts A -LRB- Hospital -RRB- and B -LRB- Doctors -RRB- provides good coverage , but still leaves folks on Medicare with a lot of out of pocket exposure . The Plan F pays for everything that Medicare does n't pay . However , if Medicare determines that the medical procedure you received was n't medically necessary , they wo n't pay anything nor will the Supplement Plan -LRB- regardless of who you get your supplemental plan with -RRB- . |
What Does The Letter On My Medicare Card Mean? | The letter on your Medicare card signifies the category that is qualifying you to receive Social Security benefits . The letters are a code to let Medicare know if you qualified for your benefits based on your own work history and taxes , whether you are eligible due to Medicare because you were disabled , or a number of other reasons . |
Is A Roth Ira A Tax Deferred Retirement Plan? | Most Roth IRAs are deferred plans . There is a special IRS code for retirement plans that are funded with after-tax dollars . This is the description of a Roth IRA . The money that you put into the account has already been taxed so it is not taxed in the future . The interest on the money is not taxed either . When you withdraw funds from a Roth IRA , those funds will come to you income tax free if you meet certain conditions . It is not a short term plan . It requires patience but it is a well-guarded secret . |
What Is The Penalty For Not Having Car Insurance In California? | If you get pulled over and fail to show proof of insurance when it is requested , you can be fined up to $ 800 . If you get into an accident and do not have insurance , you can have your license suspended , your car impounded and be fined . Be sure to obey the law and get insurance or some other form of Evidence of Financial Responsibility . |
How Much Life Insurance Does A Stay At Home Mom Need? | Do you have children ? Do you have a mortgage ? Do you have any income ? Are you planning on insuring yourself , while a spouse works and insures himself ? Do the kids need to pay for college ? These are all factors . If you are married , then what would it take to replace your services to your husband and kids , meaning for child care , cleaning , food preparation , and the things a spouse might have to otherwise pay for ? Typically the amount for such a situation is in the area of $ 300K . Thank you . GARY LANE . |
Where Can I Get Health Insurance In Georgia? | Several carriers write major medical insurance in Georgia , including Aetna , Blue Cross , Humana , Cigna , Kaiser and United . Each carrier has their strong points and weaknesses . Some offer plans that do not cover brand Rx or will only cover generics and a few brand name drugs . Currently -LRB- 2013 -RRB- there are no plans that include maternity benefits , and no carriers that offer child only coverage . I suggest you talk to a local agent that is familiar with several carriers and can explain the benefit of each . |
How Much Does A Life Insurance Wholesaler Make? | A wholesaler with good work ethic andorganizationalskills with a large life insurance company in the brokerage market should be making $ 120,000 - $ 150,000 minimum with the potential to make upwards of $ 250,000 . |
What Is Flexible Life Insurance? | Flexible Life Insurance is the old moniker for universal life -LRB- UL -RRB- . The adjective flexible was applied to UL because you could alter the premium and the death benefit within the parameters of the product line . That flexible was a consumer draw in light of the static and unalterable whole life insurance policy . |
What Is The Blackout Period In Life Insurance? | There is no blackout period in life insurance . The term , `` blackout period '' refers to the period of time when a widow or widower are left without income because they can not draw on their deceased spouse 's Social Security benefits -LRB- due to their children no longer being dependents , and the surviving spouse not yet old enough to draw on their own Social Security -RRB- . Some survivors use life insurance proceeds as income during this time . |
What Is Good Homeowners Insurance? | A good homeowners policy will protect you and your home . I would recommend a policy that has replacement cost , liability protection and depending where you live you might need earthquake , flood , mechanical breakdown and coverage for water back up . So a good homeowners policy has a variety of coverage options and you should seek a good Independent Agent . |
Does Homeowners Insurance Cover Pest Removal? | The short answer is no in most situations . Almost all homeowners insurance policies provide an exclusion for vermin -LRB- which would include bugs and animals -RRB- . 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 The Federal Employee Retirement Plan? | The is the federal employees retirement system for federal government employees . Most of these plans are defined benefit retirement plans , but some offer defined contribution plans , which are becoming more popular . Federal pensions are under current scrutiny . |
Does Kentucky Tax Life Insurance Benefits? | Kentucky does not charge income tax on life insurance benefits if they are left to a person , rather than the estate . If life insurance goes through probate , it will be taxed . Life insurance benefits are charged Kentucky inheritance taxes , with varying degrees of exemptions given to different types of heirs . They are also subject to federal estate taxes if of a sufficient amount , and in the estate of the last remaining spouse . |
Is Long Term Care Insurance Benefits Taxable? | Payments of long-term care claims by an insurance company are generally not taxable as regular income . However , the policy title page must clearly state that the policy is a `` tax-qualified long-term care insurance policy '' or `` TQ '' . Some carriers still sell `` non-tax-qualified '' long-term care policies -LRB- NTQ -RRB- in which the benefits may be taxable as regular income . The reasoning is that NTQ policies are more generous in qualifying someone to go on claim and that other policy features may provide a broader range of care . Whether those attributes would offset the possible taxation of the benefit is debatable . Most long-term care policies today are `` TQ '' . |
How Is Life Insurance Used In Estate Planning? | Life insurance provides cash at the time of death . Estate planning involves distributing assets at the time of death . Often the estate needs liquidity so that key assets do not have to be sold to pay debtors or taxes . In other cases , the business should pass to one heir and yet the parents might want to provide equally for other heirs . There are as many problems as there are families and life insurance can solve many estate problems . |
How To Qualify For Long Term Disability Insurance? | To qualify for Long Term Disability Insurance , you must earn an income and be of favorable enough health that you can qualify medically for the Disability Insurance policy . There are also some age guidelines . The process of qualifying includes filling out an application and taking an exam , just as you would if applying for life insurance . Once the underwriting review is complete , the premium is set , the policy is issued , and you put it into effect by paying the first premium . |
Will Renters Insurance Cover My Iphone? | Renters insurance is designed to cover sudden and accidental losses of named perils . Examples of named perils are fire , theft , lightning and vandalism . Your iPhone is considered personal property and would be covered by named perils on the policy . Check your deductible before filing a claim because the standard deductible is $ 500 so it may not make sense to file a claim . |
How To Get Life Insurance After Being Denied? | You can still get life insurance . Which plan will depend on the reason for denial . There are some plans that do not ask if you have ever been denied insurance . If you can answer the rest of the health questions with a no answer you can get the insurance . I have a couple plans that ask no health questions at all . Just because you are denied insurance by one company does not mean you can not get insurance through another . |
Who Started Medicare Advantage? | The federal government started Medicare Advantage . In 1997 , the Balanced Budget Act gave Medicare recipients the option of receiving their benefits through private health plans , called `` Medicare + Choice '' or Medicare `` Part C. '' The named changed to Medicare Advantage when the Medicare Prescription Drug , Improvement and Modernization Act of 2003 added prescription drug coverage to Part C . |
What The Difference Between Medigap And Medicare Advantage? | Medigap and Medicare Advantage are as different as apples and oranges . Medigap , also known as Medicare supplement , is designed to work in conjunction with original Medicare . Your original Medicare plan has no networks but does have deductibles and coinsurance that can leave you owing several thousand dollars . Medicare Advantage -LRB- formerly known as Medicare Part C -RRB- is a privately managed Medicare benefit offered by insurance carriers . With Medicare Advantage plans you have network providers , lower premiums than Medigap , and significantly higher out of pocket . |
How Much Home Insurance Should You Have? | All home insurance carriers have replacement cost estimators designed to calculate replacement value of a home in the event of a catastrophe . Carriers do n't look at purchase price , appraised value or taxable value when calculating replacement cost . Often I have a customer tell me that their home is n't worth what we have it insured for or they could rebuilt it for less money . But they rarely factor the cost of replacing a home after a catastrophe when material and labor costs skyrocket . |
Does Renters Insurance Cover Stolen Jewelry? | Most renters insurance provides some limited coverage for jewelry within the policy . Normally the amount of coverage provided by the policy is subject to the policy 's deductible . If you have a piece of jewelry that is valued at five hundred dollars or more you should talk to your agent aboout having that piece scheduled on an endorsement on the policy to provide the coverage that you need . |
Which Life Insurance Premiums Are Tax Deductible? | Many premiums of insurance policies are tax deductible as a business expense . Life Insurance , disability insurance but deductions will have to be repaid , health . insurance only if used for medical expenses , and more pertaining to business expense only . Employers who take out insurance on the employees or as a group will receive the tax break but the beneficiaries will receive the benefits tax free . |
Can You Get Car Insurance Over The Internet? | You can purchase car insurance on the internet . In fact , online auto insurance sales has been increasing every year . There are any experienced online brokers -LRB- such as myself -RRB- that offer the lowest available prices from top-rated companies . High-risk and preferred drivers can obtain very low rates by shopping the right way ! |
How To Decide How Much Renters Insurance To Get? | To decide how much renters insurance to get you should sit down and do an inventory of everything you have that you would have to replace if there was a flood or fire . Be sure and figure the replacement cost of the property you own and not what you think it is worth . Also be sure and stipulate that you want a replacement value policy . |
What Is American General Life And Accident Insurance Company? | American General Life and Accident Insurance Company -LRB- AGLA -RRB- merged with American General Life Insurance Company -LRB- AGL -RRB- on January 1 , 2013 . At this time , no policies are issued by American General Life and Accident Insurance Company . American General life insurance products , accidental death policies , and annuities are now all written under the American General Life Insurance Company -LRB- AGL -RRB- . |
How Much Is A Medicare Levy Surcharge? | If you are a senior with a high income you will pay a surcharge in addition to your Medicare Part B premium . The penalty you pay varies depending on your income from two years prior . In 2013 your total Part B premium could range from $ 147 to $ 386 monthly . |
Will Insurance Cover Me If I Rent A Car From My Brother? | Are you renting your brother 's pickup for personal or business purpose ? If for personal use , your policy will be excess based to your brother policy . For example , if there is an accident , your brother 's policy will go first and if limits are exhausted , your insurance will provide coverage on the top of your brother 's policy limits . If you rent the truck for the business purpose , make sure you have Hired/Non-Owned coverage endorsement on your business liability coverage or commercial auto policy . This coverage usually runs at $ 100 - $ 200 per year and provide a great deal of coverage for cars you borrow , rent or hire to use in business . You can compare personal and business liability and auto insurance quotes on WEBSITELINK |
What Is A Retirement Plan Sponsored By An Employer? | Generally an employer sponsored qualified retirement plan under ERISA -LRB- Employee Retirement Income Security Act of 1974 . -RRB- can be a defined benefit or contribution plan . Most employer sponsored plans today are defined contributions plans like a 401 -LRB- k -RRB- that permits pretax contributions , tax deferral accumulations and distributions taxed as ordinary income . |
Why Is Term Life Insurance The Best Type? | Term Life Insurance is not the best type of life insurance for every situation . We get regular calls from people who thought they would only need life insurance for a temporary period of time . However , now they are thinking ahead to their final years , and worried about where the money will come from to bury them . If the need is not permanent , however , Term Life Insurance is best for its relatively low price tag . |
Does Obamacare Take From Medicare? | Obamacare decreases funding for Medicare by more than $ 700 billion between now and 2020 . The cuts will be used to fund rebates for those under age 65 who either do not have insurance now or will be purchasing health insurance through the health insurance exchange -LRB- now called the marketplace -RRB- . The subsidies are for low income individuals . |
Can Annuities Be Inherited? | Most definately yes that is one of the main strengths of annuities is the easy money transfers to the beneficiary . You have complete piece of mind that your heirs will inherit your money . This in many cases does away with potential probate courts and its cost . They can be changed should one of yours heirs passes before you . |
How Much Is New York Car Insurance? | New York auto insurance premiums vary throughout the state . Rates downstate and in the five boroughs tend to be higher than upstate . It all depends on your coverage limits , credit score , ticket/accident activity and if there has been any lapse in coverage . If you are interested in a quote , I have a variety of auto insurance carriers in New York . Contact me at [email protected] . |
Why Is My Car Insurance Claim Being Investigated? | Hard to answer such a question without any details . But in general , I would n't worry too much about it . Fraud is so out of control , that they have to investigate certain claims . During the claims process , companies have their set of `` red flags '' that triggers further investigation . As long as you have nothing to hide , you should n't worry about it too much . They may ask for things such as : - bank statements - proof of residency - receipt from last oil change - etc. , etc. , etc. . Sometimes innocent minor things can trigger a red flag , and it ends up being no big deal . Other times , fraud is suspected . And sometimes , a high dollar amount of loss can trigger an investigation simply for due diligence . So do n't sweat it . If you have nothing to hide , give them what they want and you should be fine . |
Can A Deferred Annuity Be Surrendered? | Can a deferred annuity be surrendered ? Short answer is yes , but before deciding to surrender you need to check to see if there are any surrender penalties involved . In many cases annuities can have a ten year long surrender window . Also there may be tax implications in the surrender depending on how long you 've had it and if you 're liquidating vs. transferring . |
How To Sign Up For Medigap? | The best way to buy a Medigap plan is to do it through an independent broker who can compare multiple options to find you the desired plan at the lowest possible cost -LRB- brokers do not charge any fees for their services -RRB- - I can help you with this as my background is in senior life and health insurance -LRB- including Medigap plans -RRB- . If you 're new to Medicare , you have a 6-month initial enrollment period where you can sign up for any Medigap plan from any carrier without any medical underwriting , meaning they are guaranteed issue . Give me a call and I will help you get your Medigap plan set up . Thanks very much . |
Can I Get Car Insurance Online? | Yes the internet is flooded with thousands of insurance companies , insurance brokers , agents offering auto insurance rates online . It just takes a few minutes and few clicks on the mouse . The best thing about getting auto insurance is the competition among the carriers . Because of such competition , many of them offer the cheapest auto insurance rates for you . Shopping for the best auto insurance rates on the internet allows you the option whether or not to talk to an agent as well . Make sure when online have your old policy ready so you can refer to it for some of the questions you will have to answer . When buying a policy online or offline make sure you fully disclose your driving record . In some States while youre at it , check your credit score . Some auto insurance companies will not run your driving record at the time of purchase but they will run it on the back end and once they find out about your driving history and your credit , your rates will increase . So do the research before you buy . |
How To Buy Term Life Insurance? | Term Life Insurance can be purchased from any company for it is life insurance except that term insurance is only for a specified period of 10 , 15 , 25 , or 30 years depending on policy . Term insurance cost less but does not build a cash value and is not until the life of the policyholder . However , term insurance is still a great benefit . I also specialize in term insurance . I know of many other coverages that are added to term policies in order to make then more unique and beneficial such as child riders and other income options . |
Can Diabetics Get Long Term Care Insurance? | Diabetics can get Long Term Care Insurance under some conditions . They key for people with diabetes to getting Long Term Care Insurance , Disability Insurance , or Life Insurance is diabetic CONTROL . If you have a history of A1C under 8 and no side effects from your diabetes , getting a traditional long term care policy is possible . However , some LTC policies do exclude the use of insulin , regardless of control . |
Can I Change My Home Insurance At Any Time? | Unless you have some sort of special agreement with your lender or other party , homeowners insurance is an at will product . This means that you can normally change carriers at any time that you wish . Find a local agent and carrier that you are comfortable with and verify that you are getting the coverages that you need or want before changing carriers or agents . |
What Do You Pay For Health Insurance? | That 's a great question ! With your health insurance there are usually 3 parts that you pay - The premium , the deductible , and the co-pay . The premium is the amount that you pay monthly for the insurance . The deductible and co-pay are portions of the cost of the medical service that you share with the insurance company . The cost of your premium will normally increase with a low deductible , and decrease as you accept a greater part of the cost with a higher deductible . The actual cost of what you will pay will depend upon the company , policy , and amount of deductible and co-pay that you choose . When open enrollment comes back around this fall , go to the Affordable Care Act -LRB- Obamacare -RRB- site , and see if you can qualify for a subsidized policy on the site . Millions have found that they can get affordable coverage there . Thank you for asking ! |
How Can I Get Health Insurance Online In Texas? | Recommend that you go to www.healthcare.gov but if you did not have an application started by March 31st or if you are not eligible for a Special Enrollment Period you may have to wait till regular annual open enrollment which is in November . Feel free to contact me if you have any questions ! |
What Is The Average Cost For Renters Insurance? | That is going to depend on many factors . Some of these factors are geography , age of the building , construction of the building , number of untis , alarm and fire systems within the complex and many others . During my time of handling this type of insurance in my opion I would say that the average is around seven to twenty dollars per thousand dollars of coverage for your personal property . |
How To Deduct Long Term Care Insurance From Taxes? | Very generally speaking , if you are an individual who is paying your own long term care premiums , you would add the premiums to your other medical expenses for that year , and itemize those medical expenses as you would normally do . If you are self employed , you are allowed to deduct 100 % of your long term care premiums as a business expense . There are many additions and variations of this , but this is how to deduct long term care insurance in two situations . |
What Are Bonus Annuities? | Tax deferred annuities have differing crediting methods : interest rate crediting , indexed crediting and separate sub account crediting and debiting , i.e. you could lose money . But in addition to crediting methods , some annuities actually credited a one year bonus at the beginning of the terms of the annuity . That bonus is generally applicable for the guaranteed income rider or vested over the contract period of the annuity . |
Where To Invest 401K After Retirement? | That is a great question ! A really great question , and if there were just one great answer , everyone would be doing it , and there would be no seniors living in poverty -LRB- 55 % of all Seniors live at or below poverty level , according to the 2012 Census -RRB- . To give you an answer that would work for you , I 'd need to know what assets you have , where they are located , how liquid they are , what your risk tolerance is , what your retirement goals are , how your insurance protection is , your health and your spouses health status , and more . To give you a generic answer ? Somewhere where the bulk is protected yet fairly liquid , with the opportunity to draw a steady income from in the best tax advantaged way . If you would like to contact me with more specifics , I 'd be happy to give you some better advice . Thanks for asking ! |
Will Homeowners Insurance Cover Wet Basement? | This depends on the cause . If water is seeping though the walls , it typically is not covered as that would be considered maintenance . If the water is due to flood , it would only be covered under a flood policy . If the damage was due to a busted pipe or water heater , it would normally be covered . Repairs for common damp basements are not covered by homeowners insurance . |
How Long Can I Be On My Parents Health Insurance? | Under the Affordable Care Act , if your plan covers children , you can add or keep your children on your health insurance policy until they turn 26 years old . There is one temporary exception : Until 2014 , `` grandfathered '' group plans do not have to offer dependent coverage up to age 26 if a young adult is eligible for group coverage outside their parents plan . Also , I would check with the state in which you live . For example , Florida enacted legislation in 2008 that allows dependent children to continue their dependent coverage up to the end of the calendar year in which they turn 30 years old , based on eligibility guidelines . |
What Do I Need To Get A Home Insurance Quote? | It is pretty easy to obtain a quote . Be prepared with the proper address of the property . Pretty detailed information about the house is available in public municipal records , but be prepared tosupply your agent with details : The construction year of the house , where it is in relation to a hydrant or other year round water supply , if the house has special features . Also , tellyour agent if the house has a security alarm.With some companies , it may be beneficial to you if there have been recent upgrades made to the roof , HVAC , plumbing or electrical systems . |
Does Charles Schwab Offer Life Insurance? | Charles Schwab offers life insurance from other carriers . On their website they state : `` Charles Schwab & Co. , Inc. -LRB- ` Schwab ' -RRB- , in association with the Small Business Insurance Agency , Inc. -LRB- ` SBIA ' -RRB- , provides customers with access to term life insurance issued by leading insurance companies . Schwab and SBIA are licensed insurance agencies . '' |
How To Bury Someone With No Life Insurance? | It is a challenge to come up with the money to bury someone who does not have life insurance or cash saved up for that event . Even with good intentions , savings can become depleted , putting family and friends in a difficult position . Most of the clients we 've had who have been involved in that type of situation , said they have taken up a collection among the family to bury their deceased relative . However , there are a few sources where you can help supplement funeral and burial costs . Social Security will pay a lump sum of $ 255 for a funeral if the deceased person qualified for SS benefits . Veterans can be buried for free in one of the nation 's 131 national cemeteries , and there are burial funds available for some eligible veterans . Read the criteria for receiving these benefits here : h WEBSITELINK Funeral homes like to be paid quickly , but you could reimburse those who donated after holding a sale of the deceased person 's belongings . Or perhaps memorials given could be applied toward the burial costs . Keep in mind that you can take out a policy on a parent , grandparent or other person for whom the costs of burial might fall on your shoulders . They just have to agree to and sign the policy . Perhaps if they understand the hardship being uninsured can put on their loved ones , they might consent to taking this step . |
What Is FIO In Disability Insurance? | FIO in Disability Insurance stands for Future Income Options . A future income option rider allows the insured person to purchase additional disability insurance as their income grows in their career , without having to qualify for it through medical underwriting . Being able to get additional coverage at the rates while having good health can be a huge benefit . |
Is Long Term Care Insurance Subject To ERISA? | Yes , Group Long Term Care Insurance is subject to ERISA , the Employment Retirement Income Security Act of 1974 . As Baby Boomers age and more long term care policies are being used , ERISA will come into play more and more in deciding what is a legitimate long term care claim . |
What Does Life Insurance Cover? | Life insurance covers death by any reason -LRB- except suicide in the first two years -RRB- . That is whether death occurs by accident , illness , or `` old age '' . There may be some exclusions as death due to an act of war , or death that occurs during the act of committing a felony . Life Insurance covers a person -LRB- called the Insured -RRB- , and when the Insured dies , it pays the face amount of the life insurance to the Beneficiary . |
Can People With Ms Get Long Term Care Insurance? | People with MS can not get traditional long term care policies , but some people with multiple sclerosis can get life insurance policies with `` living benefits '' that will provide money for extended care needs . Also , there are riders on some traditional life insurance polices that allow the death benefit to be used for long term care type needs while the insured person is still alive . When MS is very mild , it may be possible to purchase a life insurance policy with that type of rider . |
Can Car Insurance Be Cancelled? | Yes , It can be cancelled by the insured or the carrier can cancell or non-renew your policy for various reasons . Auto insurance is an at will product for the insured , which means that the insured could cancell the policy at any time that they wish . Please make certain that you secure coverage with another carrier before cancelling coverage with your current carrier to protect yourself properly . |
How Much Does The Average Person Pay For Life Insurance? | The cost of Life insurance is dependent upon your health , vocation , smoking status and coverage period of your Survivor 's need for cash upon your death . Term plans are very inexpensive because very few insureds die during the coverage period . Permanent plans are more expensive because 100 % of the Surviving beneficiaries will receive its death benefit . Company Actuaries determine the rates for coverages using statistical information matching risk of death of an insured during the coverage period of the plan . |
How Old Do I Need To Be To Get Critical Illness Insurance? | Some carriers will issue critical illness policies on children , but usually only as a dependent , not the primary insured . As a general rule anyone age 19 or older can apply for a critical illness policy . Not all critical illness policies are alike . Be sure to get one that is health insurance , and not a rider to a life insurance plan . |
How Much Is NYS Disability Insurance? | The charge that can be made to employees receiving Disability Insurance under the New York Disability Benefits Law , to help offset the rate the employers pay , is 1/2 of 1 % or 60 cents per week , whichever is lower . The maximum of 60 cents per week applies even if the employee is working two or more jobs . |
How Do You Plan Your Retirement? | Retirement planning is paying yourself first . Whether you use a qualified plan or non-qualified plan you need to determine your tax bracket . And if you 're investing in the market , you need to determine your risk tolerance . Plans have differing contribution limits , so you need to establish the amount of contributions , when will you retire and your life expectancy . |
What Is Home Insurance Dwelling Coverage? | Generally speaking , there are three elements included in a Homeowners ' Policy . The first is dwelling coverage . This covers damage to the building , your home . The second is Personal Property coverage which covers damage or loss of your personal belongings whether inside or outside of your home . The third is Liability coverage which protects you in the event you do something that causes damage to someone else 's property or injury to another person . |
How To Get Group Health Insurance For Self Employed? | Technically you ca n't in all but a few states . To form a group under the regulations of virtually all states you have to have an employer-employee relationship which at a minimum requires two people , the employer and at least one common law employee -LRB- generally a W2 status employee -RRB- . Colorado and Delaware do appear to be states that make provisions for a self-employed person to purchase health insurance on agroup contract basis . This is one of the issues the Affordable Care Act essentially dealt with beginning on January 1 , 2014 when it 's provisions eliminated pre-existing condition exclusions and being declined for coverage in the individual and group marketplaces . So , other than the fact that the open enrollment season concluded on March 31st , 2014 there is now no legal prohibition preventing a self-employed person from getting individual health insurance . This does not mean , however , that states have changed their individual laws regarding eligibility for group contracts and to the best of my knowledge no states have changed their policies in this regard . There are still a few industry association group health plans in existence but they have become increasingly rare over the years . For most self-employed persons reading this answer your best option and generally your only option will be to purchase individual health insurance . |
Can You Use Life Insurance As Collateral? | Yes , you can use life insurance as collateral . Many lenders require purchase of Term life insurance as collateral for individuals to obtain small business loans . The insured person and lender simply sign a collateral assignment form that assigns to the lender the amount of life insurance that is needed to cover repayment of the loan . The remainder of the death benefit is paid to the beneficiary of the borrower 's choice . Sometimes business use life insurance on a key employee to obtain business expansion loans . |
What Does Dave Ramsey Say About Long Term Care Insurance? | In an article by Dave Ramsey published on Nov 13 , 2012 , for FOXBusiness , Dave answers the question , `` Is there a point where you can self-insure for long term care needs without a policy ? '' His advice is that , unless you have $ 20M in liquid assets and have $ 2M to $ 3M to set aside for long term care , go ahead and transfer that risk to a long term care insurance policy that you purchase by age 60 . |
Is Geico A Good Home Insurance Company? | -- > Normal 0 -- > -- > Im not sure I can agree with the statement The lowest premium will be afforded to those that purchase home insurance direct from a carrier . There are just too many variables for one to draw that conclusion . Homeowners policies are not identical , they consist of 40-50 pages of numbers and words most insurance buyers have little interest in reading , until there is a claim . To determine what many of the words mean , you must refer to court cases and rulings , which are not part of the policy . Buying insurance is easy but buying the proper insurance is a complicated process . Insurance buyers need a competent professional intermediary ; someone with knows the ups , downs , ins and outs of securing and maintaining the proper insurance coverage under the most favorable terms . I have little confidence that intermediary would be someone sitting at a computer terminal in some far off place who knows nothing about me or my community . You may be better off with your local insurance professional . |
How To Make Car Insurance Quotes Cheaper? | A great deal of information used in an auto quote is automated . The program knows who the drivers are in the household , what cars are registered to the address and the losses and driving records are easily obtained . In California we also get the estimated annual mileage for every vehicle . It is very difficult to manipulate the data as so much is public information . |
How To Reinstate A Life Insurance Policy? | A few points to remember here : 1 -RRB- initially , reinstatement does not require medical underwriting . This is your incentive to move quickly in case your health has changed . 2 -RRB- after this initial phase , medical underwriting may be required . You will then have to determine whether or not this carrier would give you the best deal . Perhaps another carrier would make a better offer . |
Who Assumes The Risk In A Variable Annuity? | In Canada , variable annuities are often referred to as segregated funds or seg funds . They are similar to mutual funds , but since they are issued by insurance companies that have certain maturity and death benefits guarantees . Some even include locking in or resetting of the guarantees to `` lock in '' market gain . The insurance company does provide some guarantees , however , any amount that is allocated to a segregated fund is invested at the risk of the policy owner and may increase or decrease in value . A description of the key features of the segregated fund policy issued by the insurance company is contained in the information folder . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . |
Will My Health Insurance Work In Europe? | Excellent question ! You should check the basic terms of coverage in your health insurance policy and a call to customer service might not be a bad idea . As with everything else in health insurance these days , things are changing rapidly . It comes as a surprise to many people that their individual or group health insurance may not provide coverage outside of the United States . Internal policies vary between health insurance carriers and they could even vary depending upon your employer and whether they have designed such coverage into their group health plan . You would be safest to start out with the assumption that you are not covered and that you would want to purchase a specialty policy to cover you during the term of visit outside of the UnitedStates . The length and purpose of your stay may also have a bearing on your coverage . Going to Bermuda for two weeks on vacation may be viewed far differently than going on a 6-month mission to Nigeria for example . An insurance broker or travel agent should be able to tell you more about these policies . |
How Are Premiums Invested In A Fixed Annuity? | In a fixed annuity the funds are invested in the general account of the insurance company . These funds are invested so that the company can make the future payments that are promised . Companies often offer alternatives to their fixed account . These range all the way to a variable account where the owner of the annuity can select specific funds . |
Is Velcade Covered By Medicare? | Velcade is used to treat Multiple Myeloma and Mantle Cell Myeloma . In most situations , Velcade is administered in your doctors office or clinic and would be covered under Medicare Part B . If you have Medicare supplement plan F your share for the drug would be $ 0 . Other plans would require cost sharing . |
What Does A Life Insurance Urine Test Test For? | Urinalysis -LRB- UA -RRB- is used by life insurance companies to detect presence of disease when applying for medically underwritten policies . Urine tests used can point to the possibility of kidney disease , UTI , diabetes , liver disease , inflammation , even cancer . Sometimes excessive exercise or dieting can affect the HOS , so try to drink a lot of water , avoid alcohol , eat balanced meals , and avoid excessive exercise in the days before your urine test . Life insurance also uses urine to test for drug and tobacco use . If you use opoids -LRB- codeine , morphine , methadone , etc -RRB- for pain , or marijuana for medical or recreational use , explain that on your application or to the examiner collecting your urine sample . And keep in mind that cotinine -LRB- a metabolite of nicotine that is detected in urine and blood -RRB- can stay in the body for a long time after using tobacco . It is best to disclose all health conditions , medications , and tobacco use to your agent ahead of time , rather than have it be a surprise on your life insurance exam . That way you can be matched with the company that will give you the best rate , your underwriter will rate you as good as possible due to your honesty , and your policy will pay out if something happens to you . |
How Much Disability Insurance Can You Buy? | How much disability insurance can you buy ? Well , here 's a secret that not many people know about . Normally , if you have group insurance and individual disabiliy insurance , it 's a combination between the two till you hit 70 % of your income.So if your group covers 60 % of your income , your individual will top out at 10 % . Now , if you have no group disability in place when you purchase individual , you can get up to 70 % in income covered . Then if you join a group plan , the two combine and can push the total well over 100 % of your income . So if you know kids finishing college or advanced schooling , get them to consider disability now ! before they go to work . |
What Percentage Of Americans Have A Retirement Plan? | Back in 2010 a report cited in the New York Times said that 75 % of those nearing retirement , i.e. baby boomers , had an average of $ 30,000 in their retirement accounts . Almost half will by on an unsustainable food budget of $ 5 per person . Social Security for the middle class will be the main retirement income source . |
How Much Life Insurance Do I Need And What Kind? | The amount and type of life insurance you need depends on what you want your life insurance to accomplish . If it is for a temporary need such as getting your kids through college or paying off your house , a Term policy is a reasonably priced way of getting that amount of coverage . If you want to pay for your funeral , a smaller , Whole Life or Guaranteed No Lapse Universal Life policy would be a better choice . You should work with an agent you trust to consider your needs , and who will shop among multiple choices to find your best price for the best policy to suit those needs . |
What Is The Best Medicare Supplement Plan? | The best Medicare Supplement Plans in my opinion are Plans G and N. With Plan G you only have one small deductible to meet -LRB- $ 166 -RRB- and there are no copays for a doctor office visit . Rates are very competitive with Plan G among insurance today companies today . Plan N can save you money on your monthly premium if you are comfortable paying a small co-pay of $ 20 for some doctor office visits . There is a $ 50 co-pay for an Emergency Room visit that does not result in an inpatient hospital admission . Plan N has one of the lowest premiums of any of the Medicare Supplements that offer comprehensive coverage for the gaps in your Medicare Part A & B coverage . |
Can Obese People Get Life Insurance? | An obese person may be able to get life insurance depending on their exact height , weight , and other health issues -LRB- if any -RRB- . Insurance companies have guidelines that they use to rate a person and these ratings dictate the premium that you will pay . A substandard rating will pay a higher premium than a preferred rating . It is important to discuss your overall health profile with a knowledgeable advisor who can provide guidance on the possibility of obtaining life insurance and what company will provide the best offer for your unique circumstances . |
What Are The Top Rated Term Life Insurance Companies? | There 's hundreds and hundred 's of life insurance companies in the marketplace and there are many carriers that have a superior financial rating -LRB- `` A '' , `` A + '' , or `` A + + '' rating -RRB- . Some of the big name companies with superior ratings that feature competitive rates in the term life insurance marketplace are Banner Life , MetLife , American General , Lincoln National , Genworth , Ohio National , Principal National , just to name a few . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
Will Medicare Pay For Colonoscopy Screening? | Medicare will cover a colonoscopy screening one every 2 years if you 're considered to be at high risk for colon cancer . If your doctor accepts assignment , Medicare would cover the screening at 100 % -LRB- you pay nothing -RRB- . If your doctor does not accept assignment , then Medicare will cover 80 % of the expenses . You would be responsible for the other 20 % and the part B deductible may apply.A Medigap plan F can cover the other 20 % of expenses and part B deductible if your doctor does n't accept assignment . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
Do I Need Medicare Part B With Tricare? | Tricare , formerly known as CHAMPUS , provides civilian benefits for military personnel , and their dependents . Tricare for Life -LRB- TFL -RRB- was designed to offer secondary coverage to Medicare for all who have Medicare Part A and Part B . There are very few ways one can have Tricare without having Part B . Here is a helpful link to explain TFL and Medicare . WEBSITELINK |
Can You Take Out Life Insurance On A Grandparent? | Yes , you can take out a life insurance policy on a grandparent in many situations . If you are contributing to your grandparent 's living expenses or health care through money or services , or if your grandparent lives with you , there will be no problem with purchasing life insurance for your grandparent . If you are not contributing to your grandparent 's financial situation , you still should be able to purchase a final expense policy -LRB- under $ 100,000 -RRB- for your grandparent . When purchasing simplified issue final expense insurance , it is often easier to purchase the policy if your grandparent is the owner of their own policy . It does not matter so much who is the payer . |
Does Home Insurance Cover Liability? | Most home owners insurance policies have liability built into the policy . Usually , the limits can be raised to $ 1,000,000 . Considering that the average premises liability award in 2008 was $ 848,702 , having high limits of liability is a good idea . As I 've said in other posts , I highly recommend an `` umbrella '' policy to increase your limits of liability . |
Can I Have Multiple Home Insurance Policies? | You can have multiple homes and a separate policy for each home ; or , you can have one home and a separate policy covering distinct lines of risk . The first answer is self evident . The second answer needs a bit of clarification . The basic principal of indemnity means that you will be restored to your original position before the accident . This means you are not supposed to profit from an accident when an insurance company indemnifies you . So , you will not be able to profit by having multiple policies on one home for the same coverage . This type of fraud is specifically dealt with in the terms of the policy . However , you could theoretically get physical damage coverage through Insurance Company A and liability/medical payment protection through Insurance Coverage B . This would create a multiple policy coverage for one home . I hope this helps . |
How Do You Verify Health Insurance? | Health insurance can only be verified by contacting a policy holders insurance company to confirm a policy remains active . The simple fact of someone carrying an insurance card can not be taken as verification they are covered , let alone how their benefits may work , or what portion of a bill the patient should be responsible for paying . |
What Does Car Insurance Lapse Mean? | A lapse in coverage is what is meant , meaning that the policy is cancelled . This can occur for many reasons such as non payment of premium on the part of the insured or the cancellation or non renewal pf the policy by the insurance company . A lapse in coverage will , in many states , be reported to the Department of Motor Vehicles and may result in a fine and the suspension of the car 's registration . |
Who Uses Long Term Care Insurance? | People who use long term insurance as a benefit -LRB- current policyholders -RRB- are those who satisfy the triggers that enable them to collect on it . These include being unable to do two or three ADL 's -LRB- bathing , dressing , etc independently -RRB- and/or cognitive impairment . Most policies now require that the expectation of need for that care will last at least 90 days . |
What Is Medigap Supplemental Insurance? | Medigap or Medicare Supplement insurance is private health insurance established to help supplement Original Medicare Part A and Part B. Meaning , it will help pay some of the health care costs not covered by Original Medicare -LRB- co-pays , deductibles , co-insurance -RRB- . When you have a Medigap Policy , Medicare will pay it 's share of Medicare approved amounts for your covered health care costs . Then your Medigap -LRB- Medicare Supplement insurance -RRB- pays its share . There are 10 standardized Medigap Plans -LRB- A , B , C , D , F , G , K , L , M , N -RRB- with varying benefits . Plan F is the most popular because it covers all Medicare approved charges and you do not have to pay any co-pays , deductibles or co-insurance . Plan G acts just like Plan F after you 've satisfied the small annual Part B deductible of $ 147 -LRB- 2014 -RRB- . WEBSITELINK Please feel free to contact me regarding your specific situation . In just a matter of minutes , I can provide you with Medigap benefit and quote information to help you make an informed decision . |
Where Does Life Insurance Go On A Tax Return? | This is a very broad question . If you mean Death Benefit Payments , then they are usually tax free . If you are supposed to be taxed , then the Insurance Company will send you a 1099 to include with your taxes and regular W2 . If you have not received a 1099 then you should owe no tax . If you have received a 1099 give it to your accountant or enter it into your tax software . |
How Much Should I Be Paying For Disability Insurance? | If you are paying for a personal individual disability policy you want to pay for it from your personal checking account . The reason is with today 's tax laws it will not be tax deductible or a business expense unless you are paying for employees . The good news is since you pay premiums with after tax dollars , if you become disable , your benefits are drawn tax free to you . |
What Is The Best Medicare Option? | Medicare Part A is automatic once you turn age 65 . Medicare Part B is also an automatic enrollment unless you opt out or choose to delay your coverage . Beyond that your choice is to keep traditional Medicare -LRB- Part A and Part B -RRB- and purchase a Medicare supplement plan , or enroll in a Medicare Advantage plan . Advantage plans are a form of privatized Medicare that is managed by insurance carriers . |
How To File A Claim With Home Insurance? | You file a claim for homeowner 's insurance with your broker . Once the claim has occurred , you will need to provide specific information regarding what happened , the extent of damage , the cause of damage and if there is a risk of additional damage . Generally , a claims adjuster or other personaffiliatedwith the insurer will be in contact you . |
How Much Should I Expect To Pay For Disability Insurance? | Depending upon your gender , age , nonsmoking status and good health condition you should be ready to pay 5 to 8 % of your compensation . This estimation is based on whether you pay the premium after tax for a tax free benefit of up to 60 % of your compensation or pay the premium pretax for a taxable benefit up to 80 % of your compensation , provided that you have ability to use the premium as a legitimate business deduction . |
Who Can Get USAA Car Insurance? | Their recent T.V. commercials are pretty good , with the people of all ages , who state that they have a USAA policy through various military service and family connections . The first level of those who are eligible for their policies are active , retired and/or enlisted U.S. military personnel . Also eligible are Officer Candidate personnel , such as ROTC and other military service candidate programs . Additionally , the adult -LRB- 18 + age -RRB- children of parents who either had or currently have a USAA auto or home product and widows or widowers of former USAA auto and home policyholders are eligible . |
Will Companies Drop Health Insurance Because Of Obamacare? | No , statistically around 99 % large companies in the US -LRB- 200 + employees -RRB- offer health benefits , about 96 % of medium companies -LRB- 50-199 employees -RRB- offer health benefits , and about 92 % of small companies -LRB- < 49 employees -RRB- offer health benefits . There may be a significant impact on the small employer statistics as state and federal exchanges become available . However I can confidently say that any such statistical shift in the small employer health benefits market will most likely be a short term -LRB- perhaps 3-5 year -RRB- variation that will in time reflect a very small impact in the % of small businesses offering health benefits . The complex structuring options and technical details will render the small business exchanges as effective at delivering optimal results as online tax software is in helping someone who is not well versed in accounting manage pay-roll and state/federal tax obligations/deductions . Also the businesses who do not provide meaningful benefit programs to their employees will find it hard to compete with the other companies who are able to leverage such programs to provide them with a distinct competitive advantage . That being said the exchanges will revolutionize the marketplace of individual health insurance policies . |
Can Health Insurance Charge More For Smokers? | Health insurance absolutely can charge more for smokers . In fact , under Healthcare Reform , the ONLY things for which carriers can charge more are age , location and smoking . Smoking was going to be a 50 % increase . That 's HUGE rate increase , but it ought to give you an idea of the claims that occur as a result of smoking . However , just recently Health & Human services stated they ca n't figure out how to logistically charge more for smoking at this time , so for the 1st year of Healthcare Reform , they are NOT going to charge more for smoking , which could end up raising the rates for everyone else . So again , prior to Healthcare Reform you will pay an increase . But as of 1/1/14 , no rate increase - at least for the 1st year . |
Subsets and Splits