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Can You Claim On Two Life Insurance Policies? | It would be pointless to have more than one life insurance policy if the beneficiaries could only claim on one . So yes , as Peggy said above here a beneficiary may file claims on as many policies they are named as beneficiary on . Now if you are the owner of multiple `` cash value '' policies such as Whole Life or Universal Life and there is cash value accumulated in them , you may also take loans or surrender value from as many as you own and have cash values in . Life insurance is a vehicle for benefits . It 's kind of like having more than one car or truck . If they 're yours you can drive whichever one you want . |
Can You Claim On Two Life Insurance Policies? | Yes , you can claim on two life insurance policies . A person can have as many life insurance policies as they are financially qualified to have , and their beneficiary can collect on however many life insurance policies that were left for them . Sometimes people take our several types of policies , or with different companies . It does not matter ; you can claim on two or more policies . |
Is It Better To Get Life Insurance When You'Re Young? | If you are healthy and have no other risk factors , it is cheaper to get life insurance while you are young . It is also a good time to lock in premiums before you have any health conditions . Young people often feel as though nothing serious can happen to them , but cancer , diabetes , heart disease and accidents can strike at any age . What seemed like a big monthly payment when you take out the policy , will look like peanuts to you in the future . |
Is It Better To Get Life Insurance When You'Re Young? | It is always a good idea to purchase cash value life insurance while you 're young and healthy . Think of it as buying a piece of undeveloped property . You can buy it cheaply and as you hold onto it the value increases over time . Whole life is a valuable asset that works best with a lot of time to work . What really is good about whole life is later in life , when you 're not so young and not so healthy . They ca n't take it back , end it or raise the price . Believe me , as a 53 year old with major health issues the most secure financial tool I own is my whole life insurance . My health as of late , would probably make me uninsurable , so having taken care of that as a younger much healthier man , was one of the smartest things I 've ever done . Also term insurance as you hit your 60 's is not the same product price wise as your 30 's was . It is very expensive and many people in thier 60 's are now looking for low cost term insurance for the next 30 years and are n't finding it . Later in life , term insurance has a way of making whole life purchased at a much younger age a real bargin . |
Can I Write Off Homeowners Insurance On A Rental? | If you own a home that is used as a Rental ; you would declare your Rental Income on a separate schedule on your income taxes . On the same reporting form , you will deduct expenses including property tax , insurance and any other deductible expenses . In this case , you would not have a Homeowners Insurance Policy , the policy should be a Landlords Package Policy instead meant for a tenant occupied property . If you do not carry the correct form of insurance , it is essential that you cancel your policy and purchase the correct form - insurance forms are not transferrable . This is a veryserious topic ; as you would expect , in the event of a disastrous claim , the insurance company will review your policy form and follow the coverage and definitions to calculate whether or not you are insured and how to proceed with the claims handling . There is a link available providing an online format to obtain a quote and buy landlords insurance online in multiple States ; may be used by Escrow Professionals , Mortgage Professionals and directly by Consumers . An exemplary online experience for all ! WEBSITELINK |
Can People On Ssi Get Life Insurance? | Yes , people on SSI can get life insurance . All that matters is that they apply for a policy within their means , and are medically able to qualify for the policy . With the vast number of choices of life insurance out there , a good agent can ask them the proper questions to help narrow that down very quickly and find the best rate and policy for the SSI recipient . |
What Is Needed For A Homeowners Insurance Quote? | For a home Insurance quote usually the agent can pull most info off of the assesor site for your county , usually what is mainly needed is what the customer considers market value , personal belongiongs , any special additions you have added , the most recent roof year , name , DOB , address , if you have been cancelled prior or had prior losses , what the floors consist of , as well as the inside and outside walls , garage type , basement condition/status . |
What Is Needed For A Homeowners Insurance Quote? | Talk to your Insurance Professional about the location of the house and about the particulars of the structure . Ask them to complete a Reconstruction Analysis for the dwelling . They 'll need to know the size and style of the building along with any special or particular features including fire places , alarm systems , HVAV systems etc. . If the roof has been replaced , knowing when is important because there may be discopunts available . Likewise , discounts may be available for upgraded electrical , plumbing or HVAC systems . |
What Is Needed For A Homeowners Insurance Quote? | The insurance company will want to know exactly what they would have to replace should your home go up in smoke , or be lost to another covered peril . Your description of the property will be the starting point to adjust a claim . Make sure that the insurance agent gathers accurate information ; you will have to approve the information that is sent to the company . |
What Is Needed For A Homeowners Insurance Quote? | Insurance underwriters will be underwriting the insure do , the property and its characteristics , the available fire protection in your community , and proximity to known hazards . You should be prepared to give your personal information and be able to describe the home , it 's style of construction , it 's age or when built , and the age of heat , AC , electrical system , plumbing and roof along with other typical improvements or major maintenance . Indicate whether you have qualifying alarm systems and other protective devices . It helps to have present coverage info in hand to provide coverage dates for accurate rating . The more you can help answer rating and qualification questions , the better . |
What Is Needed For A Homeowners Insurance Quote? | Insurance underwriters will be underwriting the insured , the property and its characteristics , the available fire protection in your community , and proximity to known hazards . You should be prepared to give your personal information and be able to describe the home , it 's style of construction , it 's age or when built , and the age of heat , AC , electrical system , plumbing and roof along with other typical improvements or major maintenance . Indicate whether you have qualifying alarm systems and other protective devices . It helps to have present coverage info in hand to provide coverage dates for accurate rating . The more you can help answer rating and qualification questions , the better . |
What Is An Economatic Life Insurance Policy? | Economatic life insurance , also called economy life insurance , is a combination of whole and term life insurance . Thedividends paid by theparticipatingwhole life go toward changing the term coverage to whole life , so that by the end of a set number of years , the goal is that theentire policy is whole life . |
What Is An Economatic Life Insurance Policy? | The life insurance industry lacks severe uniformity in its semantics , so that being said Im addressing the question within the realm of a few possibilities . Economatic Life Insurance is sometimes defined as a participating whole life policy with a term rider to decrease the premium cost to the policy payer . In days gone by it was the method of monthly premium via a bank draft . |
Can I Have Medicare And Private Insurance? | Yes , you may purchase private insurance in addition to receiving Medicare , and you will not lose your Medicare for doing so . However , you may find that your private medical insurance becomes your primary payer , and that your Medicare fills in the gaps of what your private insurance does not pay . If you do not want to pay for your primary health insurance out of pocket , getting one of the Medicare supplement plans may be the way to go . |
How Much Do You Get From Life Insurance? | If you are the owner of the policy , you are able choose the amount of life insurance that you want to go to your beneficiary . It is called the face amount of the policy . When paid out , it is called the death benefit . As the owner , you do not get anything from the policy unless you have Whole or Universal Life , from which you can take cash value as a loan or surrender ; or Return of Premium Term Life , which pays back all the premiums if you live past the end of the term . |
How Much Do You Get From Life Insurance? | Depends on what the face amount of the policy is . If the life insurance is for $ 500,000 of coverage , the carrier pays out $ 500,000 to the beneficiary when the insured dies , income tax-free . If you have permanent coverage with cash value and there 's a loan on the policy , the carrier will take out the loan amount and any interest to be paid from the proceeds payout and give the balance to the beneficiary . |
How Does Voluntary Life Insurance Work? | Voluntary life insurance is coverage that you purchase at work , and pay for using a payroll deduction . You can only make post tax deductions for these programs . It is different than group coverage that is paid by your employer , and individual policies you might buy directly from an agent . The primary advantage is access . The underwriting criteria may be more lenient , and you may have access to a licensed agent at work to help you choose the right options . |
How Does Homeowners Insurance Work After A Fire? | If your home is burned , your need to file a claim . Most companies provide a toll free number . If you suspect arson you must notify the police . You must provide police and company with any relevant witnesses . You must then cooperate with your insurance company . The company will arrange temporary living conditions if your property can not be used . You must make sure that your house is secured against further loss . You must provide the insurance company with a list of items which were lost , normally within 60 days . The company has the right to get plans and specifications from you and other details concerning the loss . Photographs of the building and contents become invaluable under these circumstances . The adjuster will then work with contractors to repair the damage to the residence and will make an estimate of the actual cash value of the personal property . There objectives will be to get you back into your home as quickly as possible . |
How Is Medicare Advantage Funded? | As you may know , there are many advantage plans with extremely low premiums , which makes this a popular question . Medicare advantage plans are actually funded by medicare , which was funded originally by taxes taken from your paycheck and monthly part B premiums . When you join an advantage plan , you transfer these payments to the advantage plan . |
How Is Medicare Advantage Funded? | Medicare Advantage plans are similar to traditional major medical plans in that they have copay 's and deductibles . But the difference stops there . Most Advantage plans have networks . Some networks are local while others are regional . Some Advantage plans only include coverage if you are treated by a network provider while others will include out of network coverage but with a higher -LRB- and usually separate -RRB- deductible , higher copay 's and higher out of pocket . Exceptions are made to the out of network penalty for true medical emergencies . Make sure you understand all details of the policy , especially your out of pocket maximum . The out of pocket limit does not include non-network benefits or Rx . It also does not include any non-covered medical treatment . In most areas less than half the doctors accept ANY Medicare Advantage plans . Even if your doctor does accept Advantage patients they may not participate in your particular plan . |
How Is Medicare Advantage Funded? | When you go on a Medicare Advantage plan , you are opting out of Medicare a & b for the time you are enrolled in the Part C Advantage Plan . Since Medicare does not have the liability of insuring you , they pay most of your premium for you . It 's estimated that they pay around $ 800 monthly to the insurance company that you choose . You pay little or no premium to the company plus your Part B premium . |
Can You Get Life Insurance With Epilepsy? | Epilepsy is a disorder of the brain and nervous system involving repeated random seizures that occur without warning . If you have been diagnosed with epilepsy and are trying to purchase life insurance , the severity of the disease can have an effect on the rates you pay . Life insurance companies will want to know a number of factors to make an accurate risk assessment including : 1 . What age were you diagnosed with epilepsy ? 2 . Do you have Grand Mal , Petite , or Focal seizures ? 3 . When was your most recent seizure ? How many have you had in the last year , 2 years , 5 years , etc. ? 4 . Have you ever been hospitalized for epilepsy ? 5 . Are you taking prescription medication to control symptoms ? 6 . Are you a smoker or tobacco user ? 7 . What is your height/weight ? 8 . Any other co-morbid conditions such as diabetes , obesity , heart disease , etc ? If you have been diagnosed with epilepsy , you should not apply with multiple companies at the same time - this can work against you as it will act as a sort of red flag for the insurance companies -LRB- they will see that you 've applied for multiple carriers and what the outcomes were during the MIB check -LRB- Medical Information Bureau -RRB- -RRB- . The more companies that give you a table rating or decline coverage on a formal application , the less likely you are to get a better offer . You need the help of an independent life insurance agent that can shop your medical profile informally . We specialize in high risk life insurance and make sure you are getting the best possible offer - we 're licensed in many states around the country . Send me a message if we can be of assistance securing a policy for you - my contact information is available on my profile . |
Can You Get Life Insurance With Epilepsy? | Yes you can in most cases , although you will pay a higher price than a `` standard '' risk would at the same age . When you find an independent life agent that you feel comfortable with , give as much information as you have such at date first diagnosed , all medications that you currently take whether or not they involve this disease . The agent will then be able to guide you and give some alternatives depending on how much coverage you wish to purchase . |
Is Car Insurance Cheaper If You Are Unemployed? | It may . Be employed or unemployed is typically not a factor that is used in determination of your auto insurance premiums . Your rate could be effected because your driving would be modified from driving to work to pleasure driving . Depending on how this used in the equation that generates your rate . You could potentially experience a rate decrease or even an increase . |
How Does A Life Insurance Company Operate? | A life insurance company can be a stock or mutual company . But the real operations of a life insurance company is built upon the practical theory of the law of large numbers and actuarial probability . Generally speaking , the percentage of death claims each year are very small compared to all the policy holders of any one company . That spread between the living and those who died is mortality profitability . |
What Is The Cost Of Medigap Plans? | Medigap premiums are billed according to a number of factors . Most plans consider your gender , age , zip code and plan design in setting the initial rate . Some plans also assess a surcharge for tobacco usage and others will rate extra for obesity . Medigap is the best way to reduce your out of pocket costs . |
How Do I Purchase Homeowners Insurance? | It simple really . Contact a broker like myself who is licensed in your state and start the process . You will need all the information on your home such as square footage , foundation type , year built , security system , how many fireplaces , story 's , attached garage , etc , and your agent or broker will help guide you the rest of the way . |
Do I Need More Insurance Than Medicare? | As a general rule , Medicare only pays about 80 % of approved Part A and Part B claims . The Medicare Part A deductible for 2013 is $ 1184 . If you did not have a Medigap plan you would be responsible for paying this before Medicare pays a dime . The Medicare Part B deductible for 2013 is $ 147 . This is your responsibility unless you had a Medicare supplement plan that pays that deductible . After the deductible is satisfied , Medicare pays 80 % of the claim and you are responsible for the other 20 % . |
Which Medicare Prescription Drug Plan To Choose? | Medicare Part D drug plans are not mandated coverage but for most seniors , they are a necessity . Choosing a Medicare drug plan can be one of the most confusing and complicated things you will do when turning 65 . You need to pick a drug plan that meets your needs and budget . |
Will My Insurance Cover Me Driving Another Car? | Yes , in most cases . Insurance follows the driver . It is always good to check with your agent however , since state laws may vary and the type of policy you have may have limitations . In most cases however you will be covered if you are driving someones car . |
How Much Does A One Million Dollar Life Insurance Policy Cost? | Video Transcript : How much is $ 1 million life insurance policy ? Are we using term life insurance or are we using permanent life insurance ? That 's going to dictate how long the coverage is going to need . Am I a male or a female ? Am I a smoker or a nonsmoker ? What 's my medical history like ? What is the para-med exam result that I have to take for the application ? I need to incorporate all those issues into what the price tag 's going to be for $ 1 million coverage , as well as , think about this ; you 're going to have to also add on , do you have a hazardous vocation ? That could be another additional price tag on top of your premium . If you have recreational issues , like I like to scuba dive or mountain climb , those also are incorporated into your price tag . If you 're looking for $ 1 million of coverage and you can answer all of those questions , you can come up with whose got the most competitive price tag throughout the life insurance carrier market . |
How Much Does A One Million Dollar Life Insurance Policy Cost? | The cost of $ 1,000,000 of life insurance will vary widely , and depend on such factors as your age , gender , health , and other risk factors . It will also depend on how long you lock in the premium for your policy . E.g. . If you buy $ 1,000,000 of 10 year term insurance , the premium will be much lower than if you purchase $ 1,000,000 of 30 year insurance . However , then you may need to purchase a new policy in 10 years , at your older age and possibly worse health . So it may be more cost effective to lock it in longer when you make your first purchase . To see what a $ 1,000,000 policy might cost for you , visit a website that offers instant quotes . Some , like ours , will even let you put in some health factors . You can change the term , age , etc to see what $ 1,000,000 would cost for all types of people and policies . |
When Does A Life Insurance Not Pay Out? | It is rare for a life insurance policy to not pay out . The main things that could cause life insurance to not pay out are : 1 -RRB- The cause of death is suicide during the first two years or the policy . As I sadly found out from one of the policies I sold , this even applies to suicide committed by a child included on a child rider . 2 -RRB- Death was cause by something that was exempted -LRB- e.g. if the policy had an exclusion for death caused while piloting a plane , or from acts of war -RRB- . 3 -RRB- Withholding or misrepresentation about risk on the original application -LRB- e.g. if someone had just been diagnosed with cancer and answered `` no '' to the cancer question on the application -RRB- . If death occurs during the first two years of the policy , the insurance company will investigate to see that the application was filled out correctly , review the phone interview if there was one , etc. . Minor errors or omissions will be corrected by adjusting the premium . If the withheld or incorrect information would have caused the person to be uninsurable , the life insurance will not pay out . |
Is Long Term Care Insurance A Medical Expense? | Yes , Long Term Care Insurance can be claimed as a medical expense on tax returns . If you are self employed you can deduct the entire LTC premium up to the limits set . If you are an individual filing a tax return for LTC premiums that you -LRB- and not your employer -RRB- paid , you can include the cost of Long Term Care premiums in with your other medical expenses . |
What Is A Registered Retirement Plan? | A Registered Retirement Plan is a plan that as the name suggests is designed for retirement savings . The usual attributes include deductibility of contributions and tax deferred grow while in the plan . Withdrawals from the plan are usually taxable . There are different types of plans available . In Canada for example , Registered Retirement Savings Plans -LRB- RRSP -RRB- are available on an individual or group basis . You can make the contributions for you own plan or to a plan for your spouse -LRB- It is an irrevocable gift -RRB- . Registered Pension Plans are also available with the employer making some or all of the contributions . In addition , the Tax Free Savings Account -LRB- TFSA -RRB- does not offer tax deductibility of contributions , however the funds grow tax free and the withdrawals do not attract taxation . If you would like to work with a local Retirement Planner , you could start with a Google search . For example , if you search for : retirement planner Halifax or retirement planning Halifax , my name , along with several others , will come up . You can use the same method to find Retirement Planners in your community . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . |
How Much Does Car Insurance Go Up After A Claim? | Car insurance does not always go up after a claim . If it is an at-fault accident , unless you have a `` forgiven '' clause , the premium will increase . But non at-fault accidents , including when your vehicle was parked should not impact prices . Comprehensive claims such as glass breakage may not increase your rates either . However , each carrier has different underwriting guidelines , so it is best to check with a broker for specific advice . |
How To File A Medicare Claim Electronically? | In most cases , you do not need to file a claim to Medicare , as doctors/hospitals are required to file these claims for you in a timely manner for Medicare-covered services and supplies . If , however , your doctor has not filed a claim , you can contact them and ask them to do so or call Medicare at 1-800-MEDICARE . If it is close to the time limit -LRB- 12 months -RRB- and your doctor has not filed the claim , you can do so using Medicare 's Patient Request for Medicare Payment Form -LRB- CMS-1490S -RRB- . WEBSITELINK |
Can Auto Insurance Be Transferred? | Generally , an insurance policy can not be transferred or assigned . Every personal auto policy I can remember reading prohibits assignment of the policy without the written consent of the insurance carrier . That makes sense because the carrier has a right to choose their customers and since it is their money providing the coverage , they have a right to consider any change of risk . As a general rule it makes more sense for a new policy to be written because even if the carrier consents to the change the new insured inherits the record of that policy including all the claims and payment history . If the coverage is being transferred between a spouse to another spouse after a death , the companies are not in the habit of denying the request to change the first named insured . Otherwise , per the ISO Personal Auto Policy , `` Assignment of this policy will not be valid unless we give our written consent . '' The answer is no but there is a pathway to a `` yes '' if the carrier consents in writing . |
Can Auto Insurance Be Transferred? | An automobile policy is a legal contract . Most policies stipulate that there can not be a change of interest in the policy unless the company consents to the change . Most companies will undergo a complete underwriting process if other drivers are now driving the vehicle . The normal exception is the death of the insured . |
Will Medicare Pay For Ambulance Service? | Medicare will pay for ambulance services that are medically necessary . If you are in need of urgent medical care and need a medical transport company to take you to the hospital , those services are covered by Medicare Part B . The biggest issue Medicare beneficiaries face with ambulance charges are in dealing with providers that do not accept Medicare assignment . The excess charges are not covered by Medicare . |
Is My Child Covered By My Auto Insurance? | Auto insurance follows the car not the driver or occupant . If your child is unlicensed and operating the car , the provisions of the policy would remain in effect . If your child is an occupant in the car and is hurt in an accident for which the driver of your car is at fault , there can be limited coverage for his medical care . If the driver of the other car is determined to be at fault your childs medical cost will ultimately be paid by the other driver . If your child is struck by a motor vehicle while a pedestrian there can be limited medical coverage . |
How To Locate Life Insurance Policy For Deceased? | I will tell you finding a life insurance policy without knowing the insurance company 's name is a bit like finding a needle in a haystack . After doing the obvious of going through old papers to find some clue , there are a couple of websites to try . The first place to try that is freeis the NAIC , National Association of Insurance , their website : WEBSITELINK can put you in touch with your states Department of Insurance or DOI , to see if they have a life insurance was policy filed under the insureds name in the state . Not all policies are filed unfortunately . If you do n't have any luck there then try onethat does charge a search fee of approximately $ 75.00 by the MIB Solutions website WEBSITELINK . Good luck ! |
How To Locate Life Insurance Policy For Deceased? | After checking all the deceased records , try former employers . When all other resources are exhausted there is a fee-based service available through MIB Solutions ' Policy Locator Service.You can find an online application and more information about the fee , eligibility to use the service and requirementsat WEBSITELINK Good luck ! |
How To Locate Life Insurance Policy For Deceased? | To locate a life insurance policy for a deceased person , you first should try to find the policy itself . If it is not stored in the deceased person 's files or if you can not find a record of it anywhere , see if a sibling or parent or child might recall the company through which it was purchased . If you can find the company , then all it takes is a phone call to the company toget the get the claim paid . |
How Does The Basic Concept Of Insurance Apply To Health Care? | Insurance is all about the law of large numbers and risk sharing . Health insurance is designed primarily to cover your major health care expenses while you should be prepared to pay out of pocket for routine items . Consider this . If your car insurance policy covered tires , brakes and oil changes , no one but the wealthy could afford such a policy . One reason why health insurance is expensive is because people EXPECT it to cover everything , including `` routine maintenance '' |
Is Annuity A Liquid Asset? | To qualify as a liquid asset a product must have a ready market and if the product is sold there should not be any depreciation in price . An annuity fits all of these with the exception that a deferred annuity might have a surrender charge -LRB- much like an early withdrawal penalty -RRB- that would reduce the value of the annuity . Most companies will handle the surrender of an annuity within a few business days . |
How Long Does It Take To Get A Life Insurance Claim Check? | Getting a life insurance claim check usually just takes a week or two after the life insurance company receives what they need to process the claim . This usually requires that you fill out a death claim form , plus send a certified death certificate . Either you or the funeral home can order the death certificate , and it often takes a few weeks to arrive . |
What Are The Differences Between Homeowners And Renters Insurance? | The forms used differ somewhat , however , the major difference is that a homeowners policy covers the residence and the renters -LRB- tenants -RRB- policy does not . They both cover personal property and liability . The homeowners form is required when you are the owner of the building . You should have one or the other . |
Can I Switch Car Insurance Anytime? | You can change your car insurance anytime you want . If you have pre-paid , you will get a partial refund from your current insurance company -LRB- minus the portion they have already earned for the period of time they insured you . -RRB- However , if you have other insurance and your car with the same company , you are probably getting a discount for having multiple insurance policies with that company . In this case , you will want to ensure that you wo n't pay more on one policy by moving your car insurance to another company . |
Can I Switch Car Insurance Anytime? | People cancel car insurance often . Notify the agent who wrote the original policy that you want to cancel coverage . An endorsement will be sent to you showing the termination of coverage along with either a bill for premium that has been earned or a refund of excess premium . Often people change carriers without fully evaluating the impact on their entire insurance program , something requiring caution . |
Who Offers 30 Year Term Life Insurance? | Here are a few of the 30 year guaranteed term life insurance companies : American General , American National , Ameritas , Aviva , Banner , Lincoln Benefit , Lincoln National , MetLife Investors , Nationwide , Principal , Protective , Pruco , Savings Bank , Security MTlNY , Transmerica , United Omaha . There are other companies who have guaranteed universal life that can be configured to perform like a 30 year term life insurance . Keep in mind that there are age limitations to 30 year guaranteed term life insurance . |
Who Offers 30 Year Term Life Insurance? | There are many carriers who offer 30 year Term Life Insurance . Most often you must be under age 50 to qualify for it . Try a website with instant life insurance quotes to see if you can get 30 year Term Life Insurance quotes . If you get a quote , you can get it . |
How To Plan For Life After Retirement? | How to plan for life after retirement requires that you determine what retirement success means to you and then determine what you need to do to fund it . Your successful retirement includes : healthy aging , family relationships , meaningful activities , spirituality , a balanced life plan and more . A lifestyle planner can help you if you are interested in more detail . -LRB- Some offer online programs -RRB- There is also more information on retirement planning available on my website www.jpw.ca . Your financial planning questions may include : How much money will I need to retire ? How long will my money last ? When can I retire ? What about my business ? What is my optimum product and asset mix ? Do I want to leave a legacy ? and more . Retirement planning is extremely easy to continuously put off . The earlier you start the better . If you are within 10 years of retirement or slowing down , then it is time to get serious . The first step is to take the first step with your retirement or financial planner . If you would like to work with a local Retirement Planner , you could start with a Google search . For example if you search for , retirement planner Halifax or retirement planning Halifax , my name along with several others will come up . It will be the same in your community . If you have further questions , or feel I could be of assistance , please do not hesitate to contact me . |
Can You Annuitize A Fixed Annuity? | Yes - to annuitize an annuity means you are electing to start receiving monthly payments from your annuity . When the annuity is created , you have options on how you would like it paid out -LRB- immediate annuity vs. deferred annuity and whether you want to receive those for a certain number of years or continue on for life -RRB- . I hope the information is helpful - please feel free to contact me for help setting up an annuity and if you have any other questions . Thanks very much . |
Can You Annuitize A Fixed Annuity? | That is a great question ! Every annuity , whether it be a fixed , variable , or indexed annuity will have an annuitizing phase . That simply means that after it has sat for the allotted time accruing earnings , that it reaches the point where it begins to pay out to you . When you purchased your annuity , you would have set the time periodthatthe payments would continue for . Ask your agent to review those details with you , so that you will have an idea of what you can expect to receive for income . I hope it 's a bundle ! Thanks for asking ! |
What Is No Claim Bonus In Health Insurance? | A No Claims bonus is something that is more common with car insurance than health insurance . Think of it as the `` Good Hands Discount '' that good drivers receive , in the form of lower monthly premium payments , in exchange for not having accidents or other driving problems . While a No Claim Bonus is available in some other countries , and did exist in the U.S. in the past , such a practice is no longer allowed under regulations contained in the Afford Care Act that state insurance companies can not charge different premiums to people based on their health or claims history . |
What Are Immediate Annuities? | When you look into an Annuity you have a variety of ways to fund it . You can make monthly payments , you can make a lump sum payment and you can make lump sum to start off and add to it . In an Immediate Annuity you can make a lump sum payment , annuitize it and begin to receive monthly payments . People who want to have a steady monthly payment tend to utilize this type of annuity so they can get regular payments from the insurer . |
What Are Immediate Annuities? | Immediate annuities are annuities for which you pay a lump sum up front , in order to get regular payments made back to you over a long period of time . These payments to you begin almost immediately , thus , the name . Immediate annuities are often purchased upon retirement as a source of orderly income during the retirement years . |
How Much Does Auto Insurance Cost For A Teenager? | Teenagers historically are much more likely to experience a claim than more experienced drivers . If you are just getting your license for the first time , you may be viewed similarly to a youthful driver by insurance carriers . Some carriers will assign the highest risk driver to the highest value vehicle , some will rely on an agent getting the driver assignment information from the customer . This can have a large impact on premium along with other factors . So talk to a broker about who the best carrier is for you . |
How Much Does Auto Insurance Cost For A Teenager? | Auto insurance rates for teenagers are much higher than rates for adults because of their lack of experience driving . However , there are several ways to reduce a young driver 's prices . Having a clean driving record , with no tickets or accidents could make a tremendous difference . Nearly all carriers offer a good student discount which can also substantially reduce the premium . Shopping and comparing always is a god idea . An experienced broker can help determine the best options to help bring your prices down . LIVE answer provided by : Ed Harris - Premier Car Insurance broker for 33 years and owner of several top-rated national auto insurance consumer websites . |
How Much Does Auto Insurance Cost For A Teenager? | In California a driver is not penalized for being a teenager directly . Instead all drivers with limited experience are rated together in three to four year increments . They are not differentiated by sex either . It is obvious that other states rate on age which illustrates that insurance premiums are regulated by states and reflect the thinking in the states . In California the insurance formula was set by constitutional amendment . |
Is Life Insurance Exempt From Creditors In Utah? | In the state of Utah death benefit proceeds are exempt from creditors as long as the proceeds are paid to either the spouse or a child of the insured and the policy was in force for more than one year . Cash surrender values are protected from both bankruptcies and non-bankruptcies with the exception of monies placed into the contract one year prior to the creditor claim . |
Is Life Insurance Exempt From Creditors In Utah? | Generally speaking , life insurance is exempt from creditors in Utah if the beneficiary is a person . If the beneficiary is the estate , then creditors can try to collect on the unpaid debt owed them from the life insurance proceeds . But they can not take the life insurance benefit from an individual who received it as a beneficiary , unless that person co-signed the debt . |
Who Should Get Long Term Disability Insurance? | Anyone who earns a living and wants to protect their paycheck should get disability insurance . The statistical odds of becoming disabled during your working life are too great to ignore . The average disability period is 30 months ; the average emergency cash reserve is 90 days . And it is highly recommended that you also insurance your retirement contributions as well . |
Who Should Get Long Term Disability Insurance? | If your family relies on your paycheck to pay the bills , you should have long term disability insurance . If being disabled for more than 30 days would put your home , utilities , health insurance , or your ability to feed your family in jeopardy , you should have long term disability insurance . Most people purchase long term disability insurance even to protect their standard of living . |
When Did Car Insurance Become Mandatory? | In California we have a financial responsibility law . It requires that a driver be able to cover all the costs which result from an accident . While it doesnt require insurance , that is the most economical manner to handle it . Many drivers look at insurance as a tax . It is certainly far from that . It is in the public interest that drivers be financial capable to repair any damage that they create . In California the state has made a certain set of limits as the mandatory minimums . These limits would not adequately protect a driver if they were involved in a serious accident . |
Will Health Insurance Be Taxed In 2014? | Individuals will not be taxed on health insurance . Employers will have various taxes over the few years . There will be a $ 63 fee per covered person that the employer will have to pay starting in 2014 . It is likely that many employers will pass this cost on to employees in various ways . The `` Cadillac Tax '' on high-end employer-provided health insurance will be become effective until 2018 . At that time , plans costing more than $ 10,200 for individual plans and $ 27,500 for family plans will face a 40 % excise tax . Most employers are expected to reduce benefits on these `` luxury '' policies to avoid the tax . |
Will Health Insurance Be Taxed In 2014? | There is a `` net investment tax '' of 3.8 % that is levied on `` individuals , trusts and estates '' . Then each year when the individual files their tax returns the tax preparer is reponsible for completing the form that documents if the individual has credible health insurance coverage . If not , then the individual has to pay `` the fine '' which is a tax . Now that ObamaCare is on the ropes and apparently going down for the count perhaps some sanity can be returned back into the health insurance industry |
Will Medicare Pay For A Hip Replacement? | Medicare will pay for hip replacements , if medically necessary . Ca n't say which is # 1 and which is # 2 , but hip and knee replacements and cataracts are the the first things people get when they become eligible for Medicare . If you are anticipating a hip replacement , sign on for for original Medicare and a Medicare supplement . If you go the Advantage route you will pay $ 2000 - $ 3000 OOP . |
What Is Guaranteed Acceptance Life Insurance? | Guaranteed acceptance or guaranteed Issue insurance is a policy that is guaranteed you will qualify for regardless of your health condition . You are not required to take any medical exam , but usually you will have to answer just a few basic medical history questions . These policies do NOT guaranteed you will qualify if you are past the age limit however , which is typically either 80 or 85 . And there are usually some restrictions on benefit payouts within the first couple years . |
What Is Guaranteed Acceptance Life Insurance? | Guaranteed acceptance in general means you do not have to take a medical exam to qualify . There are two basic types . Individual guaranteed acceptance , the kind you may get in the mail or from an agent , is going to be for a lower death benefit , usually around $ 5k to $ 50k . It will not pay within the first two years , but only return premium plus interest . After two years , it will pay as any other policy . The other basic type is group insurance , where members of a group can qualify without a medical exam , as long as a specific number of them apply . they may be able to get higher death benefits , usually around $ 150k . If you want a higher benefit , you will have to take a medical exam , and quality , either way . Thank you . GARY LANE . |
What Is Guaranteed Acceptance Life Insurance? | That is an excellent question ! This kind of policy is generally one marketed to people who can not get a policy otherwise . There are typically few if any health questions , and about the only thing you need to have to purchase it is a valid ID , and the money . These policies are riskier for the insurer , so they hedge their bet by creating a `` graded '' or `` modified '' period at the beginning of the policy where the return if you die from any reason other than strictly defined accident is a return of what you paid in , plus some interest . These policies are for smaller face values , and are more expensive also . They are a great vehicle for someone who has issues that would otherwise make them uninsurable , but not the best fit for someone in good health . Please contact me if you would like to discuss this further , I 'm happy to help . Thanks for asking ! |
What Is Guaranteed Acceptance Life Insurance? | Guaranteed issue policies are , in essence , a `` last resort '' type of measure for buying life insurance as they generally feature some of the highest rates in the market . The medical histories for individuals who purchase these have conditions that make them uninsurable for traditionally underwritten programs , such as cancer -LRB- when current in the body and treatment not yet completed -RRB- . Also , these programs are limited to small amounts of life insurance - generally a maximum death benefit of $ 25,000 under a single policy with most companies . The structure of a `` graded '' death benefit mentioned above is generally a return of premiums paid into the program if death occurs in the first 2 years , unless death is accidental -LRB- in which the full benefit would be payable -RRB- - the full benefit is payable beginning in year 3 of the policy . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
What Is Guaranteed Acceptance Life Insurance? | As the name implies , this type of life insurance is always available as coverage . Although it does not take effect during the first 2 years except for accident . If death does occur during the first 2 years , then all premiums plus interest are returned to the policy owner . While not as economical as so-called `` regular '' coverage , it may be an excellent last alternative . |
What Coverage Do I Need For Homeowners Insurance? | In order to keep your mortgage company satisfied , you will need to have the dwelling coverage equal to the cost that it would take to rebuild your house if it were ever destroyed . Other than dwelling coverage , you will want liability coverage , personal property coverage , and additional living expenses coverage . |
When Can I Get Obamacare Health Insurance? | Obamacare health insurance -LRB- if you want to call it that -RRB- is available in 2014 under The Affordable Care Act . No person can be denied for medical reasons and federal tax subsidies will be available to many consumers to help pay premiums . Recent health care reform changes have resulted in 100 % preventive benefits and expanded dependent coverage . Open Enrollment begins in October so it 's just about time to compare your options through an experienced broker or a reputable health insurance website . |
Does Health Insurance Cover Essure? | Essure is a medical procedure that is used by women for birth control purposes . A device is implanted into the fallopian tubes and there has been some women that has found it to be satisfactory while others have found it unacceptable . This procedural details can be found in great detail on the internet if you want more details |
Does Homeowners Insurance Cover Damage From A Water Leak? | If a water leak has been occurring over a long period of time generally there is no coverage . This is seen as a preventable maintenance issue which falls under a homeowners duty to maintain . If the leak was sudden and caused water damage you should have coverage . I would advised you contact your local agent to discuss the specifics of your potential loss . |
What Does Long Term Healthcare Insurance Cover? | What does long term care cover ? Well , Long Term Care picks up the non-medical cost of care involved for a person . Medical insurance or Medicare/Medicaid cover medical treatment for specific things . Long term care covers the cost in the daily upkeep for a person . Not so much in treating an illness directly but more assistance with daily life activities . |
What Does Long Term Healthcare Insurance Cover? | I believe you are referring to Long Term Care Insurance . There are a variety of different long term policies from many insurance companies . Most policies sold today are comprehensive and offer a daily benefit that can be used in your home , adult day service centers , hospice care , respite care , assisted living facilities and Alzheimer 's special care facilities and nursing homes . In a home setting , comprehensive polices generally cover skilled nursing care , occupational , speech , physical and rehabilitation therapy . You can also get help with personal care , such as bathing and dressing . In order to receive long term care expense reimbursement , you need to qualify . Generally , that means the failure of the insured to perform 2 out of 6 of the activities of daily living -LRB- ADLs -RRB- . There is also an `` elimination period '' after which the benefits begin . Policies vary in what they actually cover and there is much you should know about long term care and you need to find a qualified insurance agent near you that can help you understand it . |
Can I Make Medicare Payments Online? | Some carriers have the ability to collect Medicare supplement premiums or Advantage premiums via an online link but those are in the minority . Most Medigap and Advantage carriers prefer to set up an automatic bank draft for the convenience of collecting your premium on a monthly basis . All are glad to bill you quarterly , semi-annually or annually . |
How Much Does Medicare Pay For Xrays? | Medicare Part B normally covers X-rays that are considered medically necessary . Dental X-rays , unless performed due to injury to the mouth , are generally not a covered expense . If you need X-rays while admitted to the hospital as an inpatient your X-rays should be covered under Medicare Part A . If the radiologist is not on staff their charges may fall under Part B . |
What Is The Enrollment Period For Medicare Part D? | When you first enroll in Medicare Part B you have 60 days to pick a Part D drug plan . If you have a drug plan that is part of a Medicare Advantage plan , and you lose your Advantage coverage -LRB- such as moving out of the service area -RRB- you have 60 days to pick a new plan . Part D annual enrollment runs from October 15 to December 7 . |
Does Health Insurance Cover Chiropractors? | Some health insurance policies will pay for visits to a chiropractor . Health insurance plans vary greatly from plan to plan , company to company and state to state . To know if your plan provides this coverage you need to read your policy completely to find out what is covered or excluded or give your local agent a call and ask them . |
What Is Proof Of Homeowners Insurance? | If you need to provide proof or Homeowners ' Insurance , usually to a bank or other mortgage company , they are looking for a copy of the Declaration Sheet or other such certificate of documentation that your Insurance Professional will be able to provide . If you are closing on a loan , they may also need a receipt showing that the policy is fully paid . |
What Is Proof Of Homeowners Insurance? | Proof of insurance is a document prepared either by the agent representing the company or the company itself . There are some standard forms ; however , most companies use the declaration page of the policy as evidence of insurance . These are provided to lenders and others who might have an interest in the property insured . |
When Is Private Health Insurance Worth It? | Private health insurance is not an investment so its ' difficult to say when it is `` worth '' it . However , there will be many times when a consumer receives a substantially higher amount of benefits compared to the premiums they pay . I suppose it is `` worth it '' at that time . However , the alternative means you have no health problems . That 's really a bargain ! |
When Is Private Health Insurance Worth It? | When you use it ! When you are paying premiums and do not use your insurance it is hard to see the value . However , the first time you end up in the Hospital with a $ 300,000 hospital bill you realize that it is not such a bad deal . If you are healthy , my recommendation is an HSA qualified plan . You save money and are covered for those catastrophic events . |
How Exactly Is Medicare Advantage Affected By Obamacare? | Obamacare reduces funding for Medicare by more than $ 700 billion between now and 2020 . This means Medicare beneficiaries will pay higher premiums , higher copay 's and deductibles and more out of pocket . The reduced funding means fewer Medicare Advantage plans from fewer carriers . When you can find a plan expect it to cost more . |
What Is A Fully Paid-Up Life Insurance Policy? | A fully paid up life insurance policy is one in which the premiums are paid up , or paid in full . At that point , the insurance company is liable for paying the death benefit , and you do not need to pay any more premiums to keep the policy in effect . |
What Is A Fully Paid-Up Life Insurance Policy? | A fully paid up life insurance policy is simply the full amount of the . policy paid up contrary to monthly payments through the years of policy . If someone wanted a 500,000 policy and calculating the rates which rely on age and rating , the pay a one time payment maybe 150,000 , but , again depending on age , and rating . No more premiums are payed . For this I specialize in modified endowment policies but not exactly the average endowments . The policy is a secure policy aimed to preserve wealth and save on taxes . |
What Is A Fully Paid-Up Life Insurance Policy? | A fully paid up life insurance policy means that no premiums are necessary to keep the policy in force . Depending on how the policy was built , the paid up status may be sometime in the future because you are paying more premium initially . Or the paid up status could be immediate . Whole Life Insurance often times has a paid option during the premium paying years . You might see on an illustration a paid up column meaning that is the death benefit you can get if you stop paying premium at that time . |
What Should I Cover With Renters Insurance? | Everything that you consider valuable that is beyond your normal financial means of replacing -LRB- normally your deductible amount for the policy -RRB- any individual items that are above $ 500 should be brought to the attention of your agent to find out if they need to be covered thru an endorsement on the policy . Read your policy completely to understand the coverage provided and any exclusions that there may be . |
Does Health Insurance Cover Skin Removal Surgery? | It will depend upon your medical situation ; 1 -RRB- No Scenario -LRB- the most likely -RRB- - the skin removal is for cosmetic purposes . This is generally understood to extend to persons who have meaningful weight loss that leaves them with excess skin . So , you may have done the right thing by losing a lot of weight but you may have to reconcile yourself to living longer with a flabbier body or privately pay for cosmetic surgery . 2 -RRB- Yes Scenario -LRB- uncommon but not rare -RRB- - where medically necessary criteria are met . There are circumstances where there can be recurring health problems caused by skin overhang -LRB- yeast infections , sores and rashes , infections , etc. -RRB- that can be remedied or mitigated by removing the overhanging skin , a Panniculectomy . This is not the same procedure as what is commonly referred to as a `` tummy tuck . '' The Punniculectomy only removes the overhanging skin and does not address the stretching of abdominal muscle that can also occur and which is commonly addressed in the `` tummy tuck '' procedure . As such , depending upon the terms of your policy and how a claim is coded I can foresee the situation where both procedures are performed -LRB- if the doctors went on and did the more invasive abdominal muscle procedures while `` they were in there '' and this was done with your prior consent or request -RRB- and part of the procedureis covered by the policy and the other part being deemed for cosmetic purposesand not being covered . |
What Is An Example Of A Defined Contribution Retirement Plan? | An example of a defined contribution plan is a 401 -LRB- k -RRB- , employer sponsored retirement plan under ERISA , Employee Retirement Income Security Act of 1974 . The pretax contributions accumulate tax deferred and some employers match a portion of the employee 's contribution , further enhancing the overall benefit . In addition , plan participants over age 50 can contribute additional monies beyond the annual set contribution limitations . |
How Much Commission Does An Auto Insurance Agent Make? | Depending on the carrier who is paying the agent the average is 10 to 15 % for your auto or home policies . But on business policies it can be higher . Now Life and health that is a complete different story I do not write this type of policy but I was told it is a much higher commission |
Is An Annuity Guaranteed For Life? | Is an annuity guaranteed for life ? Well you may be an annuity payout and the short answer is yes . You can not outlive an immediate annuity that pays you a stream of income for your life . You can even establish guarantee windows that will continue to pay a payout after you 've passed . they are called period certain payouts . But yes , you can not outlive an annuity payout . |
Is An Annuity Guaranteed For Life? | Tax deferred annuities have three crediting methods , no of which is guaranteed for life because interest rates can change , indexed performance can wane and separate sub accounts can lose money . However , if you annuitize the policy balance for life only , it will generate guaranteed life time income you ca n't outlive . |
Why Would My Health Insurance Send Me A Check? | A health insurance company would send you a check for a number of reasons . It could be a refund of an over-payment you made . It could also be because of an error made by the insurer and they are correcting it . It could also be the result of favorable claim results where -LRB- by law -RRB- , they may have to return some premium . Or , they just like you ! Probably not that reason . |
Why Would My Health Insurance Send Me A Check? | Do you remember how much you paid as premium to your insurer ? The check you have received might , in all probability , the excess amount you have been billed for . Now that that they have rectified their mistake by sending you the refund check . Please also check if your insurance company has decided to offer you a claim which might have been assessed in your favor , but that might be the remote reason as insurance companies very seldom decide on this favorably . However , you should check it with your insurer first . |