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Does Medicare Cover Co-Pays? | Original Medicare Part A & Medicare Part B does not cover co-pays , deductibles or coinsurance . In fact , it covers only about 80 % of your healthcare costs . The remaining 20 % is your responsibility and is limitless unless you have a Medicare Supplement Plan -LRB- Medigap Plan -RRB- . Depending on which Medicare Supplement Plan you have it can pay all or most of those costs . For more information about Medicare or to Compare Medicare Supplement Plans instantly online visit our website at SummitMedigap.com . |
Medicare Part A covers hospital coinsurance and skilled nursing facility coinsurance. Medicare Part B covers physician coinsurance and outpatient coinsurance. Medicare Part D covers prescription drug coinsurance. Medigap plans can cover some or all of the coinsurance charges depending on the plan you have. Medicare Advantage plans are HMO's or PPO's and cover coinsurance according to the plan you have. |
Does Auto Insurance Decrease At Age 25? | Auto insurance policies typically have a reduced rating classification for drivers at the renewal following their 25th birthday . This primarily adjusts the rating from a previously youthful class to an adult class , and usually comes out to be a slightly lower rate than before . Depending on the company , there are a few other ways to get adult classification , for example if you were married . |
In many cases the rate will decrease after you reach age 25. Each insurance company sets their own standards as to how they will be rated. While most insurance companies will give you a break on rates after you reach age 25 there are some that will not. Contact a local agent and they can compare rates with several different insurance companies to find one that will be better suited to meet your needs. |
Is Health Insurance Elastic Or Inelastic? | I believe that health insurance is neither elastic or inelastic . The amount of insurance most people purchase has little to do with the actual cost of the coverage . In most cases the person making the purchase decision is not the individual paying for the coverage . People can pay widely different amounts for the very same level of coverage . When the coverage is purchased through work the person 's employer is making a portion of the premium payments on behalf of the employee . Any remaining contribution is paid for by the employee using pretax payroll deductions . The IRS is then picking up a portion of the tab in the form of a tax subsidy . When individuals purchase coverage through a state exchange they may be eligible for premium and cost sharing subsidies . The subsidies are based upon the household 's income compared to the federal poverty level . |
Health insurance is inelastic because health insurance premiums correlate with the consumption of healthcare services ; the two are inseparable. You can not buy less health insurance or buy cheaper health insurance -LRB- within the same state -RRB- because the price of health insurance is tied to the cost of health care. Health insurance is also cannot be stored or saved for later use, so it must be purchased each year. These factors make health insurance an essential purchase, much like electricity or housing. |
How Much More Is Life Insurance For Smokers? | Unfortunately , smokers or tobacco rates as it is known in life insurance is expensive . The average life insurance company will increase premiums 2 or 3 times that of a non-tobacco user with equal health risk . . Please keep in mind that you may receive tobacco rates for cigarettes , cigars , chewing tobacco or dip snuff , marijuana , vapor cigs , nicotine patches and nicotine gum . You need to be nicotine free for at least one year with most life insurance carriers in order to qualify for non-tobacco rates . There are a few carriers that will consider non-tobacco rates on a person that smokes an occasional cigar , usually less than 12 per year , but you still must be nicotine free when applying . Be sure to research those procedures . |
The increase in premium that smokers pay for life insurance depends on how much life insurance they are buying, how old they are, and the type of policy they are buying. Nonsmokers can pay up to 20 % to 50 % less than smokers, but the difference can be higher. Using an agency that specializes in smoking life insurance can help smokers get the best possible rate. |
Does Obamacare Offer Medigap Insurance? | No and luckily it is not needed . Medicare along with Medigap Insurance works great . Obamacare or the Affordable Care Act impacts folks under age 65 and not on Medicare . However , in the Affordable Care Act they did have cuts to Medicare but other than that it is not related . The cuts to Medicare are estimated to be $ 700 billion . Getting a Medigap Plan is fairly easy if you work with an independent agent that specializes in it . You pay a monthly premium and then you have little to no out of pocket costs for medical expenses . There is also no network with Medigap Plans which means you can go to any doctor or hospital you want . No need for a referral to see a specialist either . The biggest thing about Medigap Plans is the benefits are not allowed to change from year to year . The Affordable Care Act -LRB- Obamacare -RRB- plans are constantly changing . |
Obamacare does not offer Medigap Insurance. Obamacare is designed to help Americans purchase health insurance policies that meet the new Affordable Care Act guidelines. Many of the policies on the exchange do offer Medigap plans to supplement and help pay for out-of-pocket costs not covered by health insurance. You can also purchase Medigap plans outside of the exchange. Medigap plans do not fall under the Affordable Care Act guidelines and are still available to be purchased as they were before the new laws went into effect. |
What Is Spousal Life Insurance? | Spousal life insurance is n't a special type of policy . Life insurance on spouses is a fundamental planning matter . In dual income families , it is important for both earners to consider life insurance to protect the income they each depend on as the lost of one or both would likely result in financial hardship . In the event of a stay at home spouse life insurance should be considered as the loss of that spouse may have a financial impact through new expenses such as day care . |
Spousal life insurance is life insurance taken out on your spouse so that you can receive the death benefit upon his or her death. Some people take out spousal life insurance as a way of ensuring that the death benefit will be available to them to use as they see fit. |
What Do Auto Insurance Agents Do? | Auto insurance agents are primarily tasked with the process of finding new clients for whom they can write insurance policies . Some auto insurance handle administrative duties like processing claims or policy changes , but this is very commonly shifted to support staff hired by the auto insurance agent so they can spend more time finding new clients . |
Great question! Insurance agents are the people that help you find the right policy for you, Then they collect the payments, and file claims for you. We are advocates, and consultants, and sometimes bounty hunters -LRB- that's not a good one, but you 'd be surprised how many people think that we make our living off of the commissions alone... -RRB-.
We are expected to know the ins and outs of the companies that we write for, The state insurance laws, and a ton of information about risk and protection. We have to be able to think quickly, and clearly, and be able to translate the complicated insurance speak into something that you can understand.
If you need help, please feel free to contact me, I'm happy to help. Thanks for asking! |
What Factors Should Be Considered When Purchasing Long Term Care Insurance? | Purchasing long term care insurance is a process that has many steps . Of course your budget will play a big role in the policy you ultimately buy . The assets you have , and expect to have in the future is critical along with the liquidity of those assets . As I have mentioned many times in previous questions -LRB- I guess that 's why I am an `` expert '' -RRB- your medical history will play a role in determining when and how much to purchase . This includes family history and any hazardous sports and hobbies you may engage in . A full-time experienced broker that specializes in this type of policy is your best resource . They can shop , explain and research your options . Although many folks claim to be experts , the full-time experienced agent/broker is invaluable . |
When purchasing long term care insurance, you should consider : 1 -RRB- The rating of the long term care insurance company, so that you can get the policy that has the chance of paying out when you need it to. 2 -RRB- The features of the policy, such as daily benefit, years of coverage, inflation rider, etc.. 3 -RRB- Health qualifications, so that you can get a policy that is as favorable as possible for your health. 4 -RRB- The price of the policy in relation to your income, so that you can comfortably afford it and not have to drop it in the future. |
How Much Does Home Insurance Cost Per Month In West Virginia? | According to Home Insurance LLC , the average annual home owners insurance premium in West Virginia is $ 875 . Please keep in mind that his average assumes that you live in an average priced home with average risk factors . Additional assessment of your specific home and risk factors may increase or decrease your annual premium . |
The cost of homeowners insurance is going to depend in large part on the replacement cost of the home and the limits of liability desired. Each carrier sets their own rates based on their own risk tolerance. Contact a local agent and they can compare rates with several carriers based on the information that you provide. |
When Should You Get Renters Insurance? | You need renters insurance when you have something to loose . That something could be more than your stuff . It could be the reasonable rent you have . If there were a fire , and you had to leave for another apartment , you might have to pay more rent . LOSS OF USE is a coverage built in to the policy . If you have to leave your 2 bedroom , second floor apartment where you pay $ 500 a month because of a fire , you can move into a similar apartment and if that similar apartment cost more , LOSS OF USE will pay for the extra -LRB- above $ 500 -RRB- rent . It will not pay for you to move into a four bedroom penthouse apartment . That 's not similar . If a friend or someone else visits , goes to the bathroom and slips on the floor they could get injured ... badly . A renters policy includes two important coverages : MEDICAL PAYMENTS and BODILY INJURY LIABILITY . MEDICAL PAYMENTS would pay hospital or doctor expenses necessary to treat your friend . The limit is usually $ 1,000 but you can buy more and it 's cheap . If your friend gets a lawyer and sues you , BODILY INJURY LIABILIYT will pay for an attorney to defend you AND pay the damages if you lose . The limits generally start at $ 100,000 , but check the price for higher limits as it also is cheap . Finally , there is your stuff . Maybe it 's used and worn and you do n't think it 's worth a lot . But if you had to go out and buy EVERYTHING all over again , it would be expensive . You can buy insurance that will replace your old stuff with new stuff . You just have to make sure you have REPLACEMENT COST COVERAGE . REMEMBER : Insurance does not cover everything for every imaginable kind of claim . There are limits and exclusions . They are generally the same from company to company . Find an agent you can talk to and ask questions . Good Luck Kevin P. Foley , CPA , CPCU PFT&K Insurance Brokers 877-414-2031 WEBSITELINK |
The answer here is some combination of `` as soon as possible '' and `` when it is convenient for you ''. Let's look at these a little more closely. As soon as possible means the moment you take possession of the property. While it is rare, it is possible that a previous tenant could have left behind an item which could make you responsible for injuries or damage it causes. And that would be a terrible thing to have to deal with. That aside, your landlord can only insure the residence. Anything contained in your belongings is your responsibility. Too often people think that someone else -LRB- like the landlord -RRB- has the responsibility for their stuff. Not true. So as soon as you can, get your insurance in place. It will eliminate any confusion about who is responsible for what. And it will give you a chance to evaluate how much coverage you really need. This is also true of your personal property. Too often people think that all `` important '' stuff happens at the residence. Not true. You probably have important stuff at work, at your friends, parent or neighbors place, in your car. So having a good understanding of where your important stuff is and ensuring it is covered is equally important. While it might be convenient to wait until |
What Does Renters Insurance Not Cover? | A few of the exclusions under a typical renters insurance policy are : a. property covered by any scheduled insurance ; b. animals , insects , birds , fish , worms and bees ; c. motor vehicles including their parts and equipment ; d. motorized vehicles including their parts and equipment , except those vehicles currently operational and used to service the insured premises ; e. aircraft , including their tires , parts and equipment ; f. property of roomers and boarders who are not insureds ; g. trees , plants , shrubs and lawns ; They are covered under the Incidental Coverage of this form ; and h. farm personal property . Please read your policy completely to understand the coverage provided and any exclusions that there may be . |
Like other personal property insurance policies, renters insurance will cover a a rather broad range of possible perils. You will find, however, that in many if not all cases in your state, there are two causes of loss that will be excluded from coverage. The first is damage caused by earth movement, any earth movement. This can include but not be limited to such things as erosion, sink holes and earth quakes. Talk to your insurance professional, however, about having this coverage endorsed onto your policy if you are concerned. The second is damage by Flood. There is no endorsement for this. Flood coverage is only available by purchasing a Flood Insurance policy. |
Will Getting Married Affect My Medicare? | No , Medicare is carried by the individual and will not be affected . The only way I know of that marriage would come into play would be to help a spouse receive Medicare benefits even though that spouse may not have the prerequisite employment time required . You may want to check with your Social Security office or Medicare regarding the rules in this regard . |
Getting married will have no effect on your Medicare. You already have Part A and B and any Medigap or Medicare Advantage plan you had prior to getting married remains exactly what it was. If you are on original Medicare and want to add a Medigap plan, you can do so at any time during the year. The annual enrollment period is not required for Medigap plans. If you are on Medicare Advantage you can only change plans during the annual enrollment period. |
Can You Take Out A Life Insurance Policy On A Stranger? | Being able to take life insurance out on a stranger puts people at risk for being the target of insurance fraud , such as money laundering or murder . Insurance companies have cracked down on this mightily by requiring that there is an insurable interest in order for someone to take out a policy on another , that the insured person gives their consent , and that agents report any suspicious activity in regard to fraud . |
No, you can not take a life insurance policy out on a stranger, unless perhaps they owed you money that would be paid back to you by the life insurance policy if they died. But then, they would not be a stranger, unless the loan was done through a third-party lender. |
Is It Mandatory To Have Renters Insurance? | It is generally only mandatory if your building owner requires Renters Insurance as a condition of your lease . That having been said , obtainig Renters Insurance is a very smart decision for the protection it provides you . If your furnishings for example , were destroyed in a fire that severely damaged the building , your landlord would not be providing you with any financial support for you to replace your belongings . Likewise , if somehow you caused damage to your apartment , the liability portion of your Renters Insurance would cover the repair . Without it , you would either have to pay out of pocket or lose all or a portion of your security deposit . |
It is not currently mandatory to have Renters Insurance here in Connecticut, but that may be the result of legislation that is pending. The State has been trying to pass an ordinance that would require all tenants to have Renters Insurance for quite some time. The insurance companies, of course, would have to comply by providing insurance to all, regardless of prior loss history, which makes the policy costly to the insurance companies and ultimately, to the insured. The insurance companies argue that such legislation would inhibit the insurance companies from being able to assess proper risk factors and consequently, charge adequate premiums. The tenants, of course, would have to pay for this coverage even if they do not need it or don't want it. The landlords, however, would be required to have insurance on the building, so there is a certain amount of indirect compulsion to have the tenants obtain the required coverage. The legislation has not passed yet, but is still pending. Renters Insurance, however, is very inexpensive and provides important coverage for loss of personal property due to fire, theft, vandalism and other circumstances. It also provides some liability coverage. It is a good idea anyway, to have Renters Insurance and your landlord would be wise to require it. |
How Much Does Homeowners Insurance Go Up With A Pool? | Assuming your pool is installed correctly , properly maintained with adequate safeguards in place , the presence of a pool should have little to no effect on your premium . Most policies limits on appurtenant structures -LRB- in-ground pools -RRB- or personal property -LRB- above ground pools -RRB- are more than adequate . In rare cases , when these limits must be increased , the additional premium should not be more than $ 50-100 a year . Diving boards , water slides and other accessories presenting unusual hazards may cause a problem . Some insurers simply refuse to write or renew policies with this type of exposure . In these cases , you could see a significant increase in premium coupled with more restrictive coverage . Checking with your insurance company or agent is something I would do prior to installing a pool . If you are not comfortable with the answer , get other opinions . There is no one size , fits all . |
Assuming your pool is installed correctly, properly maintained with adequate safeguards in place, installing a pool should have little to no effect on your premium. Most policies limits on appurtenant structures -LRB- in-ground pools -RRB- or personal property -LRB- above ground pools -RRB- are more than adequate. In rare cases, when these limits must be increased, the additional premium should not be more than $ 50-100 a year. Diving boards, water slides and other accessories presenting unusual hazards may cause a problem. Some insurers simply refuse to write or renew policies with this type of exposure. In these cases, you could see a significant increase in premium coupled with more restrictive coverage. Checking with your insurance company or agent is something I would do prior to installing a pool. If you are not comfortable with the answer, get other opinions. There is no one size, fits all. |
Will Annuity Rates Increase In 2014? | No one has a crystal ball nor the market clairvoyance to predict economic conditions of interest rates in the future . The only consideration is that there are historical trends , which can never be used as a predicable indicator . But they suggest that prolonged low interest rates generally give way to higher interest rates . The recent up tick in 10 year Treasuries may suggest the beginning of such a trend . Many advisers , who sell tax deferred fixed interest rate annuities are recommending short term policies in the present environment . |
Unfortunately no one can say for sure if annuity rates will increase for 2014. We can assume that if interest rates continue to increase than we will see annuity rates increase since they are interest sensitive investments. But we can not say with absolutely certainty that this will happen and we also do not know when it will happen or by how much rates will increase. |
What Level Of Life Insurance Do I Need? | When the word `` level '' is used in the context of life insurance , it usually refers to a guaranteed level premium , or guaranteed level face amount . This means that the premium or face amount will stay the same -LRB- level -RRB- for a set amount of time . I recommend getting a level premium and face amount for as long as possible . 30 years is reasonably priced level term insurance for younger to middle aged persons . |
The level of life insurance you need will depend on many factors. Your age, health, income, the amount of debt you have, whether you are married, have kids, how many dependents you have, and what they depend on you for. All these things should be discussed with a knowledgeable agent so that you can get the most for your money. There are many options and sometimes it takes some trial and error to find the best option for you. |
Why Is Auto Insurance Important To Have? | Auto insurance is important to have since it protects yourself , family members , passengers , and pedestrians in theeventof an accident involving any damage . Of course , your vehicle is also protected , as is the bank who may be financing your vehicle . You do n't have to carry auto insurance . Simply do n't drive a vehicle and it will be one less worry in your life ! I could n't do it though . |
Auto insurance is important to have because it helps protect you and your family against financial loss due to an accident. Auto insurance can help provide for damages to your vehicle, the other persons vehicle and aids in paying for possible medical expenses of persons involved in the accident. Auto insurance can also provide liability coverage if you are sued due to the accident. |
Is A Life Insurance Payout Considered Income? | Life insurance payouts are usually considered unearned income . As such , a life insurance payout is not subject to income tax . The new 3.8 % Medicare tax on unearned income excludes life insurance cash value . The Medicare tax also excludes life insurance proceeds that are not subject to income tax . |
For income tax purposes, life insurance payouts are usually not considered income. There are some exceptions, as when the payout is to a partner in a partnership, or to an investor in a business, when the partnership or business was owned by the insured. Then the payout might be taxable. If the estate is the recipient of the life insurance payout, the interest earned by the estate on the proceeds held in the estate is considered income and as such, taxable. |
Does Owning A Pitbull Raise Homeowners Insurance? | Most insurance companies do not surcharge for animals . Instead they exclude certain breeds , restrict payment on others and/or decline the property completely . Dog bites are a major problem for insurance companies and they are more likely to deny coverage and exclude coverage for certain breeds should you purchase the animal following the start of the policy . |
It depends on the insurance company and the state you live in. Pitbulls are a specific breed that many insurance companies don't like to see in the pits. Pitbulls have a bad reputation and tend to be aggressive. Even though they are great dogs when properly trained and taken care of, insurance companies do not like to take on that risk. If your state allows you to get insurance with a pitbull, there are some companies that will take you with an exclusion for the dog bite. What I mean by this is if your dog bites someone, your insurance will not cover it. However, if you do not have the dog bite exclusion and your pitbull bites someone, your homeowners insurance will cover it. Good luck getting insurance with a pitbull. Please click the `` Contact Me '' button on the left or run a personalized quote at : WEBSITELINK Also, you can call me anytime at : 561-320-2978 |
Can Annuities Be Willed? | Annuities are contracts . They identify a beneficiary to receive proceeds in the case of a premature death . The company is required to honor the beneficiary . If the beneficiary is the estate , or there is no surviving beneficiary , then the will can direct the disposition of the proceeds . Most of the time people who purchase annuities name living persons who survive them . |
In Canada, annuities can be wired or assigned. This enables the beneficiary to bypass probate. Assigning an annuity is effective upon the death of the policy holder. Wiring an annuity is effective upon the death of the policy holder and the survivor. The benefits of wiring or assigning an annuity is that the proceeds are not subject to the deceaseds estate and bypass probate. This is beneficial in large estates. 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. |
What insurance covers your car if an auto shop damage your engine? | If your vehicle is damaged as a result of negligence by the body shop -LRB- or authorized dealership -RRB- , your auto insurance policy will not provide reimbursement for any out-of-pocket expenses you incur . Your best option is to work directly with the body shop/dealership that did the repair work an attempt to work out am amicable solution agreeable to both parties . Damage to the engine can be potentially very expensive , and perhaps render your vehicle unfit and unsafe to drive . Hiring an attorney may be your next-best recourse if the offending party is uncooperative . Important Note : This answer was provided by Ed Harris , one of the nation 's premier car insurance brokers . Carinsurancezoom.org is the leading US trusted authority for providing the best car insurance rates from top-rated companies . |
If the damage to your engine was caused by a covered peril in your auto policy, then there may be coverage. However, you must remember that you do not own the shop and they do have insurance. Their insurance would pay for the damage to their property -LRB- the car in their shop -RRB- and the damage to your engine would be your responsibility. As such, even if your policy would pay, you should be prepared to repay your insurance company when they pay the shop. The exception to this would be if the damage was caused by a hit and run driver who has not been found. |
Can I Add A Non Family Member To My Car Insurance? | That is going to depend on the carrier that you are applying for auto coverage with . Many carriers would prefer that other drivers in the household that are not directly related have their own insurance policy , but some will accept other drivers being on the same policy even if they are not related as long as they reside in the same premise as the insured . Contact a local agent to find out about coverage availability and pricing in your area . |
That is going to depend on the carrier that you are applying for auto coverage with. Many carriers would prefer that other drivers in the household that are not directly related have their own insurance policy, but some will accept other drivers being on the same policy even if they are not related as long as they reside in the same premise as the insured. Contact a local agent to find out about coverage availability and pricing in your area. |
How Does Borrowing From Your 401K Work? | This is pretty simple actually . Borrowing from your 401 -LRB- k -RRB- involves filling out a form indicating how much you would like to borrow . If the money is available , they you will get a check in that amount . Because this is a loan , payments would most likely be set up taken from your current paycheck if you are working . There is interest you will pay back as well however you are paying yourself back . If you withdraw the funds , you may have a tax liability to pay for , fyi . |
Borrowing from your 401k works by taking a loan out on some of the funds that are in your account. You are supposed to pay back the loan with interest, and if you leave your job, the loan is supposed to be repaid immediately. However, you may be able to roll the 401k over into a similar plan at your new job. You should know the rules of the 401k loan before you take it, as they vary from one company to the next. |
Can Annuities Be Rolled Over? | In most cases yes . If the annuity is a qualified annuity then you must roll it into a qualified plan or risk being penalized . A non-qualified annuity can be rolled over into a different annuity if the new annuity is more suitable and contains greater advantages than the original annuity . |
Yes, 1035 rollover exchanges are permitted between annuities as well as between life insurance and annuities. The rollover must be in the same non-qualified or qualified category. The 1035 rollover rules allow for the transfer of basis or premiums free of taxable exchange. The rollover also includes the permission to transfer the earnings or accumulated cash values from one annuity to another. |
Who Is The Best Car Insurance Company For Young Drivers? | This will depend on what your definition of good is . If you are defining good as low rates , you will have to do some checking with local agents in area to find out about coverage availability and rates . If you are in Wisconsin the company that I work with at this time tends to have very good rates with young drivers in the household . |
The best car insurance company for young drivers will vary, depending on where you live, the type of car you drive, and your driving record. If you have existing coverage on your parents'policy, in most cases, it will be less expensive to add you to that policy rather than purchasing coverage separately. There are many reputable carriers that offer affordable options. To get the best rate, as stated earlier, utilize an experienced broker -LRB- and their website -RRB- to shop for the best offers. You 'll pay no fees and you 'll save time and money! |
What Is Health Insurance And How Does It Work? | Health insurance is a type of insurance coverage that pays for medical and surgical expenses caused by illness or bodily injury of the insured person . It can be purchased privately , provided by an employer , or , as in the case of Medicaid or Medicare , be provided by the government . Payments for medical services can either be paid by the health insurance company directly to the health care provider , or it can be paid to the insured person to reimburse them for payments made , or a combination of both . There generally is a deductible , which is the amount the insured person must pay for health care received until the insurance plan then starts to pay . And there is usually a co-pay , which is a % of the health care expenses incurred above the deductible , or else is paid for predefined services for which the deductible does not enter in . |
Health insurance is a way to share the risk of medical care. For a monthly premium you get access to the entire network of doctors, hospitals, clinics, labs, etc. that the insurance company uses. This allows you to use services at a pre-negotiated price. The insurance company acts like an agent gathering the claims and submitting them to a third party evaluator, usually an independent entity. The third party evaluator reviews the claim and determines the payment the provider is to receive for the service. The insurance company then pays the provider according to the payment schedule agreed upon in the contract. As a consumer you are able to utilize the services of the providers in the network and receive a significant discount on the cost of the medical services provided. Often this is 50 % or more off the `` published '' cost of the procedures. The insurance company acts like a broker gathering the claims and submitting them for approval. The insurance company does not provide the care, or directly pay the providers. Rember, you are sharing the risk with the insurance company. The insurance company has pooled thousands of people so that if there are a couple that have expensive claims, the many who are healthy help pay for the few that are unwell. |
Is Globe Life Insurance Good? | Globe Life and Accident Insurance Company has its home office in Oklahoma . The company is rated highly by AM Best at this date , so the products it carries are sound . Whether rates are competitive is something you can find out on your own by searching for instant life insurance quotes on the internet . |
Globe Life and Accident Insurance Company was rated A + by AM Best in 2012. This company, like every life insurance company, has their niche. Globe Life's niche is doing policies online and through the mail. While handy, they do not allow people to get as much life insurance as they might want, and going through medical underwriting can save many people money vs buying No Exam coverage online. Whether Globe Life Insurance is good for you depends on what you want and what you are willing to pay. |
How Much Does VA Health Insurance Cost? | You asked a very detailed and complicated question . Your first cost is , if you are a service connected veteran , was the days and months you spent in that `` foxhole '' or some distant country that separated you from your family and friends . However , you do not have to be `` service connected '' in order to obtain treatment by the VA. . You can go through a `` annual means '' testing at VA where you are required to provide `` financial details '' including if you do have health insurance . Then you can also be classified as a `` hardship case '' by disclosing financial information and the type of treatment you need . Generally your copays are $ 8 for medication ; outpatient copays are $ 15 for non = specialist and $ 50 for specialist . If you have to be admitted , your copay is the current year Medicare deductible which was $ 840 in 2003 and has been indexing each year and will be $ 2016 in 2014 |
VA Health Insurance -LRB- Veterans Administration -RRB- is free to qualified veterans. You must have served in the military, been honorably separated, and you must have submitted a claim for VA medical benefits. Keep in mind the VA system is extremely overcrowded and the wait times for care can be extremely long. |
What Is The Retirement Plan For A Congressman? | Before 1984 , Members of Congress received pensions that were based upon the Civil Service Retirement System . This is the same system used by other Federal employees . Members of Congress did not participate in the Social Security system . They were not eligible for social security benefits based upon their pay as Members of Congress . In 1983 Members of Congress and other federal employees , who were first hired after 1983 , were integrated into the Social Security System . Starting in 1984 all Members of Congress started participating in the Social Security System regardless of when they first entered Congress . Only those on the federal payroll prior to 1984 continue to participate in the Civil Service Retirement System . New Members of Congress since 1984 have participated in both Social Security and a new retirement program called the Federal Employees Retirement System . A Member of Congress can decline coverage in this program . Members elected prior to 1984 had the option of remaining on the Civil Service Retirement System or opting for the new Federal Employees Retirement System . The Civil Service Retirement program was not designed to be integrated with Social Security . The contributions and benefits from this program are much higher . When these benefits are combined with Social Security they can become substantial . Members of Congress can be covered under one of four different programs : 1 . Full coverage under Social Security and the old Civil Service Retirement System . 2 . An offset plan which includes both Social Security and the Civil Service Retirement System but the amount contributed to the CSRS is reduced by the amount paid into Social Security . 3 . The Federal Retirement System and Social Security 4 . Social Security alone . The pensions for Members of Congress are financed through a combination of contributions from the Congressman and from the Federal Governmenttheir employer . When they pay Social Security payroll taxes they pay the standard 6.2 % required of other employees . If they remained in the Civil Service Retirement System they pay an additional 7 % of their pay . If they opted for the Federal Retirement System they pay an additional .8 % of their pay . When they retire a Member of Congress can receive benefits in much the same way other federal employees do . They can file for and receive benefits under Social Security and they can apply for benefits under the retirement program they have adopted . The retirement benefit itself is based upon reaching at least age 62 and is a function of years of service and income in the highest three years of covered salary . The benefit generated under the Civil Service Retirement System is much greater than the benefit under the Federal Retirement System . By law , the benefit paid to a Member of Congress can not exceed eighty percent of the final pay of the Member of Congress . There are around 500 Members of Congress drawing pensions today . Their average pension in 2006 was under $ 35,000 . Members of Congress who elect an immediate annuity can also maintain the health insurance that they had as federal employees . Members of Congress that elect the FERS program are also eligible for a thrift savings program in which contributions are matched to a certain level . |
Congress has a defined benefit plan, the Public Employees Retirement System -LRB- PERS -RRB-, that is also available to state and county employees. It is a tax funded plan. Congress participates on the same basis as other employers. The members of Congress are not excluded from the rules that apply to other employees. |
Who Has The Best Auto Insurance Rates In California? | The best insurance rates buy coverage that is adequate to meet your needs when you have a claim . When you are involved in a collision you wont care how much you paid , you will care how much the company will pay on your behalf and for your loss . A good insurance agent is the key to the best auto insurance . The agent should listen to you , provide sound financial advice and communicate clearly with you and with the insurance company you both select . |
I would be cautious in looking only at the rates, especially in California. First, many companies will give preferred rates to new customers in order to get them as a client. The assumption is that clients will stay with a company, thus `` locking in '' a client base. -LRB- This is also why many companies WILL NOT write a new client if they have a client date of birth within 3 months of the application -RRB-. After the introductory period, the rates will often adjust upward for clients. The other thing to consider is that different companies have different levels of coverage. What you are paying in premiums, you may be getting in coverage. It may be worth it, or it may cost you if you don't have the coverage you need when you have an accident. Find a local agent that you are comfortable with and let them advise you on what policy best fits your needs. Do not be afraid to ask specific questions about coverage. Even if you don't have a specific example, ask what would happen if you did have a specific accident. How would the policy handle it? |
What Kind Of Retirement Plan Is Trs? | What kind of retirement plan is TRS ? A quick search reveals that TRS is short for teachers retirement system . These are state sponsored plans set up to provide retirement benefits for public school educators in their respective states . The plans themselves may be different in each state as well as different within each state as plans are altered at times for new hires . For example in my state there are currently three plans in action for the teachers retirement . The first was closed to new hires in 1977 and has about a 1000 teachers still working . The second was closed about a decade ago and is very different from the first and the third is still different from 1 or 2 . I expect a fourth to be introduced in the next 5 years . |
A Traditional Retirement System -LRB- TRS -RRB- is a retirement plan that is funded by the sponsor. Participants do not have individual accounts but the retirement benefit is calculated by a formula that generally incorporates years of service, age and/or age of retirement. Benefits are not vested upon separation of service but may be subject to a deferred compensation plan or pension payment. Sometimes TRS benefits are guaranteed, sometimes not. |
What Is Gerber Life Insurance For? | Gerber Life Insurance started in 1967 as a way of helping children and families protect their future through life insurance . They offer policies for babies , youths , adults , and seniors . One plan is specifically aimed at providing cash value to pay for college , and their Guaranteed Life plan is designed for final expenses . However , any of their plans can be used for any purpose that fits the needs of the insured . |
Gerber Life Insurance is for babies, children, and adults. The company carries both Term and Permanent life insurance, and offers a variety of face amounts and premiums to choose from. They even have one Type 2 diabetes plan that is available to persons up to age 80. Besides life insurance, Gerber also offers accidental death insurance and no-exam policies. |
Can One Person Have Multiple Life Insurance Policies? | A person can own as many Life Insurance policies as they desire if they qualify for the coverage and can pay for them . The biggest problem is that without proper counseling the policy may not fit the need that the person was purchasing the policy for . Many policies are put on the market to meet specific needs and because of the public knowledge a person may buy a policy that they thought meant one type of coverage when in actuality it was completely different coverage . Over my lifetime I have worked with persons who would buy term policies when in their mind they had mixed them up with policies which are paid up early , ie , ten pay life , etc. . I have met more than one individual who through the years had bought 10 year term thinking it was like ten pay life and that it would be paid up in ten years . I want to stress here that buying a Life Insurance policy without understanding all of its reasons for existence is like buying any auto with four wheels without knowing anything further . I would also like to point out that most Life Insurance policies have what is called a `` policy fee '' that is attached to the premium of the policy . What this means is that the company is charging fifty to sixty dollars per year for the administration of that policy and there is no coverage on that amount of the premium . I have had people want several smaller policies to avoid taking a medical . This also can be a mistake since most companies have discounts on the larger amounts of Life Insurance on an individual . In today 's life you can find an individual who has knowledge in all fields of finance . If that person is living up to the pledges made to become an agent they will educate the client and help them purchase the proper Life Insurance and investments without sales pressure . A good agent builds clients for a lifetime ! Allen D. `` Al '' Mitchell , Ph.D. , CLU , FLMI Author `` The Prophets Dollar '' second edition . |
Yes, one person can have multiple life insurance policies. Many people buy a variety of policies because different types of products best meet different types of needs, or simply because they want to diversify the companies with whom their life insurance is with. Insurance companies do not mind how many policies you have, as long as you can qualify for them financially. |
What Company Has The Cheapest Car Insurance In Montana? | Depending on which part of the state you live in the rates are quite competitive . A good example here in Kalispell the rates are lower then Columbia falls and Missouls but higher then Kila . It is important to compare rates with many carriers , also find an agent that you can trust and feel comfortable with . You can get quotes online but most of them are not as cheap as a local agent . A local agent can compare rates with many carriers and make sure that you are properly protected and also give you all the discounts that are available . doing an online only quote you could be missing out on a huge saving I recommend you call and agent . |
I agree with Jason. I had a client last week who was quoted with a carrier that was $ 300 a month with full coverage and had been with them for years. We were able to get them with another carrier for $ 60 a month with full coverage. It is very important to shop around or call an independent agent like my office. We compare rates with many different carriers to find you the best rates. If there is a problem we can help you with a claim or a replacement vehicle while your car is being repaired. We are there for our clients. If you ever have any questions feel free to call us at 1-866-933-4372. |
Why Is A Roth IRA Better Than A 401K? | A Roth IRA isnt better . A Roth IRA is different . Contributions for a 401 -LRB- K -RRB- reduce your current income tax . Contributions to a Roth IRA do not . Distributions from a 401 -LRB- K -RRB- are fully taxable as ordinary income . Distributions from a Roth IRA are not taxable at all . The limits to how much you can put into a 401 -LRB- K -RRB- are quite generous . The limits to contributions to a Roth IRA are restrictive . There are taxes and possible penalties if you withdraw money from a 401 -LRB- K -RRB- prior to age 59.5 . You can withdraw from the capital invested from a Roth IRA without tax consequences . There are advantages to both . |
A Roth IRA and a 401k are two very different animals. A 401k is an employer sponsored defined contribution plan under ERISA. A 401k is generally a participant controlled account that accumulates tax deferred and is taxable at ordinary income tax rates upon distributions. Many employers actually contribute to their employees 401k on the employees behalf as an additional benefit. A Roth IRA is an individual retirement vehicle that participates in qualified plan. It accumulates tax deferred and when distributions are generated no taxes are paid at ordinary income tax rates. Both the 401k and the Roth IRA are generally considered `` qualified '' plans, but the taxation is different. The 401k is taxed as ordinary income and the Roth IRA is not. |
Can Felons Buy Life Insurance? | Felons who are on probation or have had a felony within the past 2 + years can have a difficult time getting life insurance , other than guaranteed issue coverage . Even a felony within the past 10 years can prevent getting some simplified issue policies , although a medically underwritten policy will look at the details of the felony and approve or decline based on that . Contact an agency that carries a large variety of products to find the lowest price policy with a history of felony . |
The rule of thumb is anyone with a felony conviction in the past 7 years will not qualify for a traditional life insurance policy. Now, there are newer instant or rapid-issue products on the market that shorten the guideline to 3 years. The only life insurance policy I've ever come across that doesn't have a felony question is a graded death benefit life insurance policy. They are essentially guarantee issue plans with low death benefits payable after a defined waiting period of usually 2 years. If the insured dies within the waiting period the carrier usually pay back premiums plus interest. If you want more information on felonies and qualifying for insurance visit www.clminsure.com or call 561-320-2978 |
Does Suze Orman Recommend Long Term Care Insurance? | Yes , Suze Orman recommends long-term care insurance . In fact , she is the primary caregiver for her mother who lives with her in Florida . In an article written forSun Times Media , LLC , dated Sept. 4 , 2012 , she relates how difficult it has been taking care of her mother . Although Suze Orman had - and still has - the means from her business to take care of the costs of long-term care insurance , she reports that she tried and tried to get her mother to sign off on an LTCi application , but she refused to do it . Her mother said she would n't ever need it and that it would be a waste ofmoney . It costs approximately $ 25,000 / month for Suze to keep her mother at home and have the best quality care around the clock . That 's about average for 24/7 home care with skilled nursing . If Suze 's mom were to go into a Nursing Facility , the cost would be much less , but would still be from $ 7,000 - $ 12,000 per month , depending on whether she had a semi-private or private room . Suze indicated that as a young professional financial advisor , she saw `` clients who would spend all the money that they had earned over a lifetime on a long-term care stay . '' She advised that , `` If you can afford LTC insurance and you are in your early 50s or older , now is the time to look into getting it . '' But , she also cautions that if you ca n't , '' ... dont buy it because you will end up dropping it and wasting your money . '' She concludes her article with the irony of her own personal situation with regard to buying long-term care insurance . `` Over the years , I have had some health problems that are fine today . But , when I went to get my own LTC insurance policy two years ago I was denied for recent health reasons . If I had just gone one year earlier , that would not have been the case . '' -LRB- Suze Orman donated her fee for writing the article to Blue Planet Network , which aims to bring sustainable safe drinking water to people in rural communities around the world ; blueplanetnetwork.org . -RRB- |
At one time Suze Orman was a big proponent of long term care insurance. She understood the value of maintaining your assets and how important it was to protect them against the cost of assisted living and nursing home care. Then for some reason Suze turned on long term care insurance. She seems to be one of the leading personalities in the anti-long term care chorus. |
Is A Roth IRA A Qualified Retirement Plan? | A Roth IRA is a retirement plan , but is not qualified in the sense that you can not deduct your contributions into the plan . Roth IRAs accumulate tax deferred and distributions are tax free . Roth IRAs may be an option for individuals who are in a low tax bracket and have no employer sponsored retirement plan at work . |
That is an excellent question! Yes, the Roth IRA is a qualified retirement plan, it is just not a government sponsored plan like Social Security or Medicare would be. That means that it falls under the regulations governing it as a retirement plan, and the taxes on it, unlike non-qualified plans, when money is withdrawn from it. I hope that helps, thanks for asking! |
How Can A Self Employed Person Save For Retirement? | Start a percentage of profit in a savings account this might take sometime but will pay off later in being self employed means you like the freedom that comes with it . Do n't borrow money in most cases you are making enough money to run your business and live . So live below your means get help to evaluate where you are at you can get this help free most consultants or financial planners will get paid from the carrier not you . Dividend stocks and IUL life policies are good in this case and will help you earn tax free money later . I would invest in Land they are not making any more . Just say for example Hersey stock symbol -LRB- hsy -RRB- is a world dominator and has paid dividends as high as 7 dollars per share which a 10k dollar investment now could pay dividends of say 7-10k 15 years from now . |
A self-employed person can save for retirement the same way anyone else does, and perhaps the best way is to use a retirement plan that is dedicated to a specific goal. My favorite goal for a self-employed person is `` having my retirement paid for by my business ''. Using a retirement plan like a Roth 401k, you can maximize your contribution and take advantage of the power of compounding. In 2013, a person under 50 can contribute up to $ 17,500 to a Roth 401k and if you are over 50 you can contribute up to $ 23,000. If your business is profitable, you can roll the earnings over into the Roth 401k and continue to build your retirement with the full power of compounding. You do have to pay taxes on the money you put into the Roth 401k but you will have already paid taxes on that money when you paid taxes on your profits. You will pay no taxes on the earnings of the Roth 401k so they can continue to grow tax-free. If you have a traditional IRA, you can contribute up to $ 5,500 a year and if you are over age 50 you can contribute up to $ 6,500. However, a traditional IRA |
Can Home Insurance Companies Drop You? | Yes , but typically it takes some very substantive issue if the policy is more than 60 days into being in effect . On fairly modest basis you can see carriers withdraw from a state or territory because their loss experience may endanger the health of the overall insurer . Also there can be situations where an insurance department sees an ongoing impairment of the carrier and proceeds to cancel all policies for the carrier . This happened in Texas following Hurricane Ike . If the property is not properly maintained , there was misrepresentation or even sometimes because it would be against public policy to continue to provide liability insurance in the face known instrumentality of putting the public in danger . You see very infrequent last item because Insurance Departments often are involved in that regard . but you can see this happening with dangerous dogs etc. . There also can be changes in exposure that were no known at inception . For example a build up combustible brush near the property . So , it generally occurs because the frequency of loss is unsustainable over time . or the conditions are changing for the worse or the insurer now recognizes some information in a loss that was not previously known . |
Any insurance company can drop you. If your home is persistent in having claims or is in an area that has a high potential for losses, chances are you will be dropped by one or more insurance companies. All insurance companies are evaluated on the actuaries of the risk in the event of a catastrophic loss. If the insurance company can no longer afford to take the risk, they will drop the coverage. |
What Is The Best Retirement Plan? | Selecting the best retirement plan is determined by your personal financial profile . First consideration is whether the plan should be qualified or non-qualified . If your tax bracket is high and/or your employer matches some of your contributions , a qualified plan should be considered . If your tax bracket is low and your employment doesnt offer a match then non-qualified plan should be considered . Once you establish whether the plan should be qualified or non-qualified , then funding your retirement with the proper product is next . To do this you need to establish a personal financial profile that includes a risk tolerance assessment , your financial goals and a life expectancy review . |
The best retirement plan for you needs to be tailored to your financial goals. You need to determine whether you are going to fund a qualified or non qualified plan. You need to determine your retirement time horizon. How long and how much will you contribute? You need to establish your risk tolerance. What returns are you looking for and what is your risk to your contributions? You need to estimate your life expectancy. How many years will I live during retirement? These are a few factors that can assist you and your adviser is selecting the right retirement plan for you. |
Is Life Insurance Public Record? | Not in the sense that anyone can look up your coverage who isnt authorized to do so . The MIB and scripts records are available for authorized access for life insurance due diligence purposes and when applying for life insurance , the proposed insured is required to disclose total coverage . There are privacy protocols in place to ensure , as best one can in an information age , medical and personal financial records , including life insurance . |
Life insurance is not public record, however, if you are asking about obtaining someone elses life insurance policy or proving that someone had life insurance, those things can be public record. Also, if you are asking about the payment of a deceased persons life insurance benefit, those funds can be a matter of public record if the beneficiary was not a relative. |
What Happens When You Stop Paying Life Insurance? | Life insurance is a contract . Term life insurance is a contract based on the exchange of premiums for coverage . If you stop paying premiums and youre past the reinstatement period , youve lost coverage and may be required to re-qualify for coverage . Permanent forms of life insurance with accumulated cash values may be able to sustain the policy without premiums for a time . To determine if your policy will continue without payments , order an in force ledger from your company . In your request for an in force ledger , ask them to illustrate the nonpayment of premiums under current policy expenses . This will give you an idea how long the policy will stay in force . |
When you stop paying life insurance, your policy will go into a grace period -LRB- a month or so -RRB-. If the premium is not paid during the grace period, the policy will lapse. When the policy lapses, it will not pay the death benefit if the insured person dies. It is important to pay the premium as soon as possible before the grace period, or else it can even be cancelled. |
What Are The Best Ways To Save For Retirement? | What are the best ways to save for retirement ? Well , when I see this question and I do see it a lot I sort of answer it this way . The best ways to save for retirement is to get into the habit of saving for retirement . There are many ways to save for retirement , there is no best way , there are ways that work best for you , but again the big thing is to do it . |
The best ways to save for retirement are the ways that are suggested by your financial advisor after completing a financial profile. Different people have different financial goals, income levels, risk tolerances, and timelines. So it is important to use products and vehicles that are suitable to you as an individual. |
Who Governs Annuities? | If youre asking about all annuities , then here are two governing bodies for variable annuities : FINRA and the Department of Insurance . Variable products like variable annuities are registered products and come under the oversight of FINRAs jurisdiction . But because it is an annuity insurance product as well it falls under the department of insurance . Non FINRA annuities are governed by the Department of Insurance in each state . |
Annuities are governed by the state in which the annuity was sold. The governing body for annuities is the department of insurance. Each department of insurance sets its own rules and regulations for the sale of annuities within their particular state. Please be aware that any annuity sold across state lines is still governed by the department of insurance of the state it was sold in. |
Where Can You Rollover A 401K? | A 401k can be rolled over at most any bank , insurance , investment , financial firm in the country . The type of investment or annuity vehicle is actually the choice you must understand.That vehicle will get you different types of return on your money . Its very important to research where the 401k is rolled over which notifies the IRS or the rollover so it is not taxable . |
You can only roll a 401 -LRB- k -RRB- over to another qualified plan or an IRA. If you roll a 401 -LRB- k -RRB- over to another qualified plan, there are no tax consequences. If you roll a 401 -LRB- k -RRB- over to an IRA, there are tax consequences. You should consult a financial advisor when rolling over a 401 -LRB- k -RRB-. |
How Are Variable Annuities Insured? | A variable annuity is a security investment under FINRA and an insurance product under the department of Insurance of each state . Variable annuity separate sub accounts have equity and bond investments and can lose money . The guaranteed general account is a fixed interest rate which can vary . A variable annuity contract is not insured by any government agency . |
Variable Annuities are a security product and an insurance product. They are regulated by FINRA and the department of insurance. Variable annuities have two account types : the general interest rate account and the separate sub account that uses equity and bond investments. Variable annuities are protected by the guaranty fund in the event that the insurance company that issued the variable annuity fails. |
Which Medicare Supplement Plan Is Best For Me? | There are several factors to consider before making a decision for your senior Medicare needs : Foremost , will you be better off purchasing an insurance supplement , or is a Medicare Advantage plan better for you ? Those two solutions to solving your needs are different animals entirely , so make sure you educate yourself on the different advantages of each and look for only plans in your area . Some plans are county specific . Some supplements are area specific . This is one journey you do not want to take alone . So to help you make an informed decision with your agent , you of your power or attorney need to keep in mind the following items 1 . Are you eligible to change what you have ? 2 . What medications you take . 3 . How often do you go to the doctor ? 4 . How much risk are you willing to accept in return for lower premiums ? All insurance plans transfer some risk from the client to the insurance company . The less risk -LRB- deductibles and copay -RRB- on the client , the more premiums will be . Supplements that have the same letter name -LRB- PLan N , for example -RRB- theoretically cover the same items , so you should be shown what they do and do not cover , and be able to compare costs with other companies . 5 . Are you on assistance ? 6 . Are you under or over 65 ? When did you get part B ? 7 . What state and county do you live in ? 8 . Do you have extensive chronic illnesses ? 9 . Did you recently move , get married , get divorced , move in with family members ? 10 . What is the carriers financial rating and how long have they been in the Medicare Supplement or Medicare Advantage business ? These and other questions are ones I ask before making any recommendations to my clients . If you go to an independent broker who has many Medicare clients , he should have several choices to offer , as there are many companies that compete in this arena . It is n't an easy answer , hopefully the above questions will help you gather a checklist for your agent . If he or she does not ask many of these questions , or only has one solution , you might be better off to move on to a different agent |
Medicare supplement plans are standardized by the federal government. The only difference between Plan F with one company and Plan F with another is the monthly premiums you pay. So, when shopping make sure you are not over paying for the exact same benefits. Most people like Plan F because it covers the 20 % Medicare approved treatment doesn't, with NO co-pays or deductibles. If you are looking to save money and still have great coverage then Plan G is great, because the savings more than offsets the small annual deductible it doesn't cover, usually. The best way to find out which one is best for you is to contact an independent agent that represents all the major companies and let them help you navigate the choices. You will be glad you did. |
Do Long Term Care Insurance Premiums Increase? | Long Term Care Insurance Premiums can increase . Historically , rates have not increased often , or by much . There has been a larger increase in premiums recently due to higher than anticipated claims , and lower than anticipated interest rates . Long Term Care Insurance companies do all they can to keep their premiums from going up , but they also must do what is needed to keep their companies and existing policies viable . |
Yes, long-term care insurance premiums can increase over time. It is important to consider this when comparing policies, as well as the amount of premium increase that could occur. The amount of increase per year can vary widely between companies and between policies from the same company. When buying long-term care insurance, you can also lock in a level premium so that it will not increase. This may not always be a favorable option, as it is possible that premiums could stay the same over time, but become cost prohibitive compared to what you could have paid had the premium increased. |
Is Buying Long Term Care Insurance A Good Idea? | Most advisers begin addressing long term care insurance to their clients around age 50 . But the purchasing trend of long term care appears to be around age 60 . However , if youre family has a predisposition to disease , chronic hospitalization or nursing home confinement when theyre old , you may want to consider long term care insurance when youre young and healthy . You should purchase long term care for your retirement years . The statistics are significant that youll experience a need for assisted living or perhaps nursing home confinement . The average married couple spends $ 250,000 on medical and extended care during their retirement years . Securing long term care is important , especially when youre healthy and heading into your late fifties , early sixties . |
Is buying long term care a good idea? Well, it depends on your needs and your assets. The big thing long term care does is provide you a pool of money to help you choose what you want to have happen regarding your care. Without long term care coverage any situation that comes up where you need care, you 'll be faced with where ever will take you and quite possibly a reduction in assets to cover the cost. The idea of long term care being a good thing to buy depends on how solid your assets are and if you have a plan in place to cover your care. For some people spending down their assets to get public care is the way to go, but for others private care is a better way to go. Long term care really is a personal choice only the person needing the care can choose. |
Can Annuities Be Rolled Over To An IRA? | Non-qualified annuities can not be `` rolled over '' into a qualified plans . Now that 's not to say that proceeds from a surrendered annuity ca n't be used as a contribution into your qualified plans , but taxation and penalties could present a negative economic result for using those funds for a qualified retirement plan . Check with your tax consultant first before moving forward with your annuity . |
If youre addressing existing non-qualified annuity and you desire to use in funding an IRA, the following cautions are advised. Your name may be the same on the annuity as well as the IRA, but it reality, your changing ownership registration. If that happens your annuity, if effect, is being surrendered and that surrender will trigger an ordinary income tax event on the gain in the policy. If youre under age 59 an additional 10 % penalty will be assessed as well. And dont forget non-qualified annuity basis is tax free, by inserting it into an IRA ; you give up the tax free status of basis because all IRA distributions are an ordinary income tax event. Also keep in mind that IRAs have contribution limitations, $ 5,500 under age 50 and $ 6,500 over age 50. Most non-qualified annuities are larger than that. Before moving forward with any changes consult a tax adviser or CPA. |
What Is The Cost Of Homeowners Insurance In California? | Cost of homeowners insurance in California is based on location , replacement cost of the dwelling which would entail putting together all the characteristics of the home . Past claims experience and potential discounts you may qualify for . A California independent agent like myself could help you find the right insurance carrier at the right premium to fit your needs . |
The cost of Homeowners Insurance in California is determined by the risk that the insurance company is accepting. There are many variables that change the premium of a policy. For example, the home located in Los Angeles would be at a higher risk than the same home located in Santa Barbara. There are many other variables that affect premium. The construction of the home, the age of the home, prior claims, credit -LRB- yes, sometimes credit can affect your premium -RRB- and many other things. In Los Angeles you can expect to pay more than in Santa Barbara, but there are many other factors that would affect the premium. The only way to get a real idea of what it would cost is to obtain a quote. |
Who Is The Number One Life Insurance Company? | The number one life insurance company by assets and insurance in force is MetLife and its related companies . There are so many areas in ranking a life insurance company . John Hancock has the leading 5 year net investment yield . There are also six rating services that measure the financial strength and claims paying ability of many of the life insurance companies that do business in the U.S. : A.M Best , S&P , Moodys , Fitch , Weiss and Comdex . There are also product spreadsheets published by independent industry Intel groups that rank by premium cost , policy provisions and serving claims experience |
If you are asking the who is the largest life insurance company in the United States, it is MetLife, Inc.. If you are asking which insurance company has the highest rating, there are a number of life insurance carriers that share the top ratings with each rating company -LRB- AM Best, Fitch, S&P, and Moody's -RRB-. |
Is There A Limit To How Much Life Insurance You Can Buy? | The purchase of life insurance is predicated on financial justification to come up with a death benefit . If the justification amount can be certified the death benefit , the numbers can become quite large , over $ 100,000,000 . Many large insurance companies offer jumbo limits to 65 million . You can also justify life insurance coverage with the expected earnings -LRB- human value -RRB- for an individual to age 65 and use a multiplier to increase the death benefit amount . |
Video Transcript : Today's question is, `` Is there a limit to how much life insurance you can buy? '' Well, yes, there is a limit to how much life insurance you can buy, depending upon your budget, your justifying factors, and your earnings. Some people earn a hundred thousand dollars a year, and they're worth a million and a half, and they're looking at budgeting forty thousand dollars a year for life insurance. Well, that's not going to support a million and a half face amount at a premium of forty thousand dollars a year ; it's not going to work. They're just not going to be able to afford that. So it's not just what you earn ; it's what you're worth and how much you're willing to budget. But yes, there is a limit to how much you can buy based on budgeting, justifying factors, and earnings. |
Will Medicare Pay For Non Emergency Transportation? | Medicare can pay for non-emergency transportation if that form of transportation is needed to prevent endangerment of your health , and if you need to be transported to a place where your health can be diagnosed or treated . You might also be able to have Medicare cover non emergency transportation if you are confined to bed and that is the only way that you can be transported to get the medical care you need . |
Medicare is designed to cover medically necessary exams, diagnostic procedures and treatment. Home health care is usually a covered expense under Medicare. Non emergency transportation to a hospital or clinic is usually not a covered expense. If you are in need of emergency treatment, transport to a hospital or clinic is most likely a covered expense. |
When Do Medicare Advantage Cuts Begin? | Unless Congress changes their mind ... again ... Obamacare cuts to Medicare Advantage will continue in 2014 and later . Every year for the last few years Congress has cut funding in one way or another for Advantage plans . Future cuts will mean fewer Advantage plan choices , higher premiums , higher deductibles , higher copay 's and higher out of pocket . |
The cuts that you are referring to are part of the Affordable Care Act -LRB- Obamacare -RRB-. They are scheduled to begin in 2013, however, the insurance companies have been forced to make cuts prior to that. I am not sure exactly what cuts you are referring to but there have been some substantial cuts already. |
How Do I Get Medicare Part A And B? | To get Medicare Part A and B , most people have paid into Medicare through taxes for at least 40 quarters -LRB- 10 years -RRB- over the course of their working lives . They are either automatically enrolled on their 65th birthday , if they are receiving Social Security at that time . Or they enroll themselves in the 3 months before or after their 65th birthday . Others get Medicare Part A and B for being disabled for 2 years or having end stage renal disease or ALS . |
If you have worked the required amount of time then you should qualify for Medicare. You can pick up Medicare Part A and B at the Social Security office or you can go on line to Medicare.gov. Choose the option that best fits your situation. One thing to keep in mind is if you have not worked the required amount of time, you may still qualify for Medicare, you will just have to pay the premiums. |
How Much Is Renters Insurance Annually? | It varies depending on what coverages you have , as well as how much stuff you have . The average Renters policy is about $ 15 a month , but if you start adding on Jewelry Riders , Sewer Backup , Family Liability etc. the cost obviously can vary . Find a local agent , and discuss with them what is best for you . |
Renters insurance premiums will vary depending on many factors. Some of the factors are geographic area, the age of the structure, the amount of coverage, claims history for the individual and location, and credit history just to name a few. I have seen coverage be as low as $ 80/yr on 15000 of coverage. Contact your local agent for rates and coverage available within your area. |
Can You Be Denied Medigap Insurance? | Yes . If you do n't buy a Medigap plan during your initial open enrollment period -LRB- the 6-month window from your Medicare Part B effective date -RRB- , you can be subject to medical underwriting if you do not qualify for a special enrollment period . If you 're applying with medical underwriting , you have to answer the medical questions on a carrier 's application . Depending on the responses , they will approve or decline you . Keep in mind , each carrier has different health questions so some may work better for your medical history than others . The BEST TIME TO BUY a Medigap plan is during your initial open enrollment period because there is NO medical underwriting . This means that regardless of your health status , you can buy any Medigap plan from any carrier in your area , again , with NO medical underwriting ! I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . |
If you apply for Medigap coverage during your initial enrollment period -LRB- usually at age 65 -RRB- you can not be denied coverage. Also, there are specified guaranteed issue situations where a carrier can not deny your application. These situations include losing an Advantage plan, losing your employer group health insurance plan -LRB- past age 65 -RRB- or if your current Medigap carrier exits the market or goes bankrupt. Outside of specified guaranteed issue situations, you can buy a Medigap plan at any time subject to medical underwriting. |
Does Health Insurance Cover Getting Your Tubes Tied? | It greatly depends on the type of policy you have , & whether it is deemed medically necessary , or elective . You may be able to pay only co-pays if you have a group policy , or a percentage if you have an individual policy . Many supplemental policies such as Aflac , will actually pay you , a reimbursement , for each day in the hospital , Ambulance transpiration , & other procedures you may go through . Best to have your specific policy reviewed by a professional . |
It depends on which health insurance policy you have. It will not be covered under a major medical plan unless it is deemed medically necessary. The procedure would be covered under a maternity compromise plan or, if the compay doesn't have a maternity compromise plan, it would be covered under the prescription drug plan as long as the drugs involved are prescribed. |
What Is The Declaration Page Of A Homeowners Insurance Policy? | The Declarations Page -LRB- also referred to as the ` dec page ' -RRB- on a Homeowners policy is the title page which details the Named Insured , the Term of Coverage , the Insured Mailing & Property Address and the Limits of Coverage for each Section . If there is a mortgage on the property , the mortgagee should be listed on the declarations page ; this is particularly important because the insurance carrier will mail the ` Mortgagee Copy ' of the declarations page to the address listed with the account number listed being the reference to the mortgage company . Each insured person should check to make sure that this information is correct in order to avert unnecessary communication with the mortgage company . |
The Declaration page of a homeowners insurance policy is the page that outlines the coverage's of the policy. Usually this page will have been completed by your agent after a reconstruction analysis of your home. This page will state the stated amount of coverage for the Dwelling, Other Structures, Personal Property, Loss of Use coverage and Personal Liability coverage along with any coverage endorsements that have been purchased such as Water/Sewer Back up, Law and Ordinance, Earthquake, etc.. If you do not understand the coverage's of your policy I recommend you sit down with your agent and review the coverage's in detail. |
What Is Medicare Crossover Insurance? | Medicare crossover is not insurance . It is an electronic claim processing system used by Medicare providers to submit claims to Medicare . Once Medicare adjudicates the claim and approves it , the claim is sent to your Medigap carrier of record . This eliminates the need for your provider to file one claim with Medicare , another with your Medicare supplement provider . |
Medicare crossover insurance occurs when you have original Medicare and a Medicare supplement, also known as Medigap. When you see a medical provider -LRB- doctor, lab, hospital, clinic, etc -RRB- and have original Medicare your provider files your claim with Medicare. Once Medicare completes the adjudication process and approves the claim they transmit it to your Medigapp carrier by way of crossover. |
Does Your Child Need Life Insurance? | Getting life insurance for your child , in my opinion , is more important than ever before . With the advancement of medicine , there are many health conditions being diagnosed , and even tendencies toward health conditions are noted in medical records . While this is wonderful for saving lives , it can have a negative impact on insurability and life insurance rates . Getting life insurance for your child ensures that they will have a good life insurance rate for the rest of their lives . Even if you just put them on a child rider , they can convert the amount of the rider to 5 times that amount of life insurance when they become an adult . |
In the vast majority of cases, no, your child does not need life insurance. I always recommend that parents keep at least a small amount of coverage on a child until they are at least 18 or older, to help protect against the unthinkable. Aside from that one-time use type of coverage, children should be added to their parents'policies as a rider until they are able to be on their own, at which point they should be transitioned off to their own policies. |
What Can I Do With My Life Insurance? | It depends upon what type of life insurance you have . If its term or guaranteed universal life , then you options are limited to coverage or the sale of those polices in the settlement market depending on the date of issue , your age and life expectancy . If you have cash value permanent life insurance , you have the option to access the cash values via policy loans and maybe withdrawals tax free . |
You can borrow from cash value life insurance. There are policy loan charges that range from zero net cost loans to direct recognition loans, i.e. up to 350, sometimes 400 basis points. Other policy loan provisions include wash loans, spread loans and participation loans depending on what type of permanent cash value life insurance you own. You can also use life insurance as a collateral item for bank loans. Keep in mind that borrowing from your policy may affect its performance, so be careful. |
When Will Annuity Rates Go Up? | No one is a prognosticator in predicating when and if interest rates go up . But if annuity sales trends -LRB- five year guaranteed rate annuities -RRB- are any indication , then perhaps in five years or less -LRB- 2.95 % for five years . -RRB- Long term fixed interest rate annuities , currently at 3.25 % for ten years is too long if rates start moving up and your annuity has punitive surrender charges if you want to move . |
Annuity Rates are directly tied to the Fed Funds Rate & to 10 Year Treasury Rates. Both of these are at historical lows at the moment. Most financial experts claim that interest rates should rise over the next 5 years. If this happens, Annuity Rates will rise as along with them. |
Can Life Insurance Be A Tax Deduction? | In general terms life insurance can not be deductible personally or business . However , that being said , certain qualified plans allow for funding part of your annual plan contributions with life insurance : participating whole life insurance at 49.5 % and universal life insurance at 25 % of your annual contributions . You 'll have to pay an economic benefit tax , but it may economically viable to consider . |
Can life insurance be a tax deduction? Yes, it can. Depending on how your employer structures their group plan and if the employer is a for profit or not for profit entity, life insurance can be tax deductible. Usually when life insurance is part of a benefit package, the death benefit is not taxable as income to the employee, so long as they are still employed when they receive the benefit. |
What To Know When Filing A Homeowners Insurance Claim? | When filing a homeowner 's insurance claim , you should have good documentation and records of how the claim originated , what damage has resulted and what future damage is at risk . An adjuster is likely to meet you at your home to view and discuss the damage and often , issue a check at that time . |
Start by talking with your Insurance Professional about the specific terms and conditions of your policy. This will help you to better understand your coverage and what is required of you should you need to file a claim. Of course, if you are dealing with a loss that is the result of a covered peril as listed in your policy, be sure to contact your Insurance Professional as soon as possible. If you have a concern about a potential liability loss, these should be reported immediately as they involve a greater degree of risk. Your policy may also include a `` Fraud Section '' which provides information about how you can protect yourself from fraudulent activities. Scammers operate in all areas and you do have a responsibility to be vigilant about protecting your personal information and your home. The claims department of an insurance company is there to help you report any suspicious activity. |
Will My Homeowners Insurance Increase After A Claim? | It is entirely possible that your Homeowners Insurance may increase upon renewal as a result of claim activity . However , that having been said , it also depends upon the company and cirsumstances of the claim , the type of claim and amount paid for the loss and your long term history with the company . Always check with your insurance porofessional to understand your particular coverage , terms and conditions of the policy . |
That of course will depend upon the terms and conditions of your policy so it is best to talk to your Insurance Professional about this. Typically upon the renewal after a claim, it is possible that your company will assess a surcharge that may vary depending upon the nature of the claim. |
Why Should Landlords Require Renters Insurance? | A landlord can usually require tenants to carry their own renters insurance . Some States have regulations that must be satisfied first but most landlords can require it in the rental contract . The major purpose for the landlord is to provide a shield of sorts , from some or all liability associated with the rented dwelling , in the event of a loss to either property or persons . There are several obvious reasons concerning property and liability that make it important for both parties actually . For example , if a renter 's property was damaged by a covered peril , the renter might look to the landlord for recovery . However , absent the landlord 's liability in relation to the loss , the renter would not be reimbursed without their own renters policy in existence . Also , as another example , if a visitor was injured in the renter 's apartment , in the absence of a renters policy , the injured person might look to the landlord as the sole source of reimbursement for injuries , which , of course could be substantial in nature . The landlord certainly has a right to protect him or herself in this instance . It just makes good , logical sense ... all the way around ... for landlords to require tenants to carry renters insurance . |
To help the tenant and themselves. If the apartment building experiences a fire or tornado and the tenant losses everything, they will want to be able to replace the things they lost. Renters insurance provides this. Also, if while living in the apartment, the tenant is injured because of the condition of the apartment, the tenant could be liable for the injury if someone is injured. Renters insurance provides liability coverage for just this type of situation. If you would like a free quote, please press the button. |
Does South Dakota Require Auto Insurance? | All states require at least a minimum amount of liability coverage before you can legally drive a car . You do not have to have insurance coverage that will pay to repair or replace your own car but you do have to protect other people 's property that you might damage with your car . |
South Dakota does require auto insurance if you own or operate a vehicle. If you could give me a bit more information on your question I can help. Even if you do not own a vehicle there are non owner policies to help protect your financial responsibility as an operator of a motor vehicle. Hope this helps Frank |
What Is My Medicare Part B Premium? | For most people , your Medicare Part B premium is $ 105 per month and is normally deducted from your Social Security benefit payment . If you are considered a `` high income '' individual your Medicare Part B premium will be higher . The same is true for your Medicare Part D premium . If you are not receiving SS benefits Medicare will bill you on a quarterly basis . |
Your Medicare Part B premium will be one of the following : $ 104.90 per month -LRB- 2013 -RRB- $ 107.00 per month -LRB- 2014 -RRB- $ 121.80 per month -LRB- 2013 -RRB- $ 124.70 per month -LRB- 2014 -RRB- $ 335.70 per month -LRB- if your income is $ 85,000 or above -RRB- $ 376.95 per month -LRB- if your income is $ 107,000 or above -RRB- $ 509.70 per month -LRB- if your income is $ 160,000 or above -RRB- $ 566.10 per month -LRB- if your income is above $ 214,000 -RRB- You can also have a higher premium if you choose to receive Medicare Part B early -LRB- before age 65 -RRB-. This premium will be a percentage of the normal Part B premium based on the number of months you are receiving Medicare Part B early. |
Does Geico Provide Life Insurance? | Yes , Geico provides life insurance to its customers by referring such customers to my firm , LifeQuotes.com . At WEBSITELINK you can instantly comparerate quotesof 35 leading life companies ranging from $ 5,000 to $ 25 million . Our rating engine handles 30 common illnesses and customers are free to buy from any company shown . |
Geico provides Term life insurance through non-affiliated insurance companies. In other words, the life insurance is not underwritten by Geico ; Geico just helps you get it by referring you to a brokerage that carries quotes from multiple life insurance companies. The agency they refer you to is not owned by Geico. |
Can I Borrow Money From My Whole Life Insurance Policy? | Assuming you have accumulated cash values , the answer is yes . But there are strategies to access cash values . Dividends , which are classified as a return of unused premium , can be taken out free up to basis . Policy loans of gain is the another cash value option to consider . Most participating whole life insurance companies charge some form of interest spread on their policy loans . A few use the more expensive direct recognition policy loans . Before accessing your cash values , order an in force ledger to determine the status of your policy and an illustrated in force ledger displaying your dividend withdrawal or policy loan . |
If you have accumulated cash values you may be able to borrow -LRB- maybe withdraw -RRB- from your whole life policy. Assuming that your whole life policy is participating i.e. pays annual dividends, you can access them free up to basis. If you still need more money, you can borrow the policy gains via policy loans. Keep in mind that most participating whole life policies use spread loans and a few use direct recognition loans. |
Can A Learner Driver Get Car Insurance? | That is a great question ! In most cases , the learner is added to someone else 's policy as a driver until such time as they can get their own policy . Parents add their child as a driver on the vehicle , as it is generally cheaper than the policy for a teenager would be . Thanks for asking ! |
If you are a learner driver and have a learners permit, then yes you can purchase auto insurance. You would want to call your local agent to find out what is required for you to purchase the coverage that you want. If you are looking to purchase coverage for you and the driver you are taking lessons from then you would want to look into having a non-owned auto policy. |
Can Car Insurance Cover Repairs? | Car insurance will only cover repairs due to an accident or vandalism . If you want to get coverage for major car insurance repairs , that would be covered by a car warranty . These can be purchased at the time of purchase or at a later time through certain carriers . If you do look into this option , be sure to check the company reviews online and through the Better Business Bureau as there is a great deal of customer dissatisfaction with many of these companies . This would be a warranty and not insurance . |
There may be coverage for repairs under the Comprehensive portion of an auto policy if the damage is caused by something other than collision. For example, if a tree falls on the car, or a rock kicks up and cracks the windshield. Of course, the settlement would be subject to the deductible and the damage must be caused by a covered peril in the policy. If you want coverage for repairs due to normal wear and tear, then you need a Vehicle Service Contract. These are quite inexpensive and cover the mechanical breakdown of a vehicle. |
How Is Car Insurance Calculated? | There are many factors in determining rates for auto insurance . Age and experience of driver . Driving record . In some states your credit . Type of vehicle , Annual mileage , Coverage 's requested . Marital status . Location or garaging address . Occupation . These are just some of the many factors without getting into discounts that are taken into consideration for auto insurance rates . |
Car insurance rates are calculated based on the type of vehicles you drive, your driving record, the coverage you have, the number of polices you have with that carrier, and many other factors. The major carriers often offer the most competitive prices, although there can be a wide range of rates in a specific area. Your deductibles and liability limits will also greatly influence the cost of your policy. |
What Is The Most Affordable Health Insurance In Indiana? | There are many affordable health insurance plans in Indiana , thanks to the Affordable Care Act , also known as Obamacare . What reduces rates -LRB- often dramatically -RRB- , is the federal subsidy that is based on your household income . Often , this can generate financial help of $ 5,000 - $ 10,000 per year . And this money is automatically deducted from the premium . Anthem typically offers the the lowest rates , although Humana is competitive in many areas . Both individual and family plans are available along with coverage for small businesses . If household income is too high to qualify for a subsidy , off-Exchange plans can be purchased from the participating major carriers . Where do you get the best rates ? Typically , an experienced broker website will offer the lowest prices along with expert advice . There are never fees or charges for utilizing this type of assistance . I should know since I 'm an Indiana health insurance broker and have been in the business for 33 years . But it does n't seem that long ! |
The answer to your question depends on several factors. Your age, gender, Zip Code, tobacco use, height and weight and your overall health. There are websites such as WEBSITELINK where you can compare the types of plan most suited for you. There are probably over 300 health plans from various insurance companies that you can review. I suggest using an experienced agent or broker to assist you and answer your questions. |
Can You Park A Car On The Road Without Insurance? | You could , whether or not you will receive a citation for not having insurance on the vehicle is another question . You would have to find out what your community 's ordinances are pertaining to auto insurance and your states regulations for auto insurance . You are more likely to receive a citation for not have insurance when you are driving the vehicle . |
That is a great question! I 'd ask you a couple of things - how likely is it that no one will drive past it -LRB- including police officers -RRB-? If there is a chance that someone may come by and ding the car, or vandalize it, you may want to think about some coverage. If your car needs insurance to be registered, and have current plates, and there is a chance that you will get a ticket if it isn't, you may want to think about getting some insurance. Many companies offer a very inexpensive bare bones policy for non driven cars, I 'd suggest you ask your agent to look into one of those for you. Thanks for asking! |
What Does Medicare Cover For Vision? | Medicare Part B can provide coverage for some preventive and diagnostic eye exams for people at high-risk of certain conditions -LRB- e.g. diagnosing retinopathy in diabetics or mascular degeneration for age-related conditions -RRB- . However , Medicare does not cover routine eye exams for glasses or contacts . You can check out the medicare.gov website for more specific information regarding condition/risk requirements for Medicare to pay benefits . You will need to secure coverage under a separate vision insurance plan to receive benefits for glasses , contacts , and other routine services . |
Medicare covers testing for eye conditions if suspected -LRB- not as part of a routine exam -RRB-, treatment for eye conditions that are a result of illness or injury, intraocular lenses following cataract surgery, one pair of glasses after cataract surgery, glaucoma screening for those with risk factors, and eye prosthesis for absent or shrinking eye. For Medicare-covered eye conditions, Medicare will pay for 80 % and you will pay for 20 % of expenses. |
Can A Roth IRA Go Into A Trust? | The short answer is `` it depends on the type of Trust '' . If you are inquiring about a Revocable Living Trust the answer is `` yes '' . Spend the money and consult with a tax advisor who understands trusts and a financial advisor who understands trusts to get the most accurate answer . Best to you , Mark |
A Roth IRA can be funded by a variety of assets. Those funds can be deposited directly into the Roth IRA or they can be deposited into a trust and the trust delegated to make the deposits into the Roth IRA. The trustee of the trust need not be involved in the process. |
Is Health Insurance Before Taxes? | If you purchase your coverage through an employer , you may have the option to utilize a 125 plan to have pre-tax dollars withheld from your pay check to pay your premiums . However , for the vast majority of individuals purchasing their own coverage , insurance premiums are paid for with taxable dollars . One exception to this rule is anyone that is self employed , who is allowed to write off the cost of their health insurance on their tax return . However , even in such a case , the self employed individual must still FICA/self-employment taxes on these funds . |
Health insurance can be paid before or after taxes, depending on the situation. For example, in 2014, for the first time, some individuals were not charged any tax penalty for not having purchased health insurance. Therefore, in that circumstance, paying health insurance premiums with your own funds, before or after taxes, was completely voluntary. However, in many circumstances, paying health insurance premiums with your own funds, before or after taxes, is required. This is especially true if you have an employer who offers health insurance, and you choose to purchase insurance through that company. In that circumstance, you would pay your insurance premiums with funds that have already been taxed, and then take your taxes out of your paycheck along with taxes for other expenses. However, if you choose to purchase insurance through the federal or state exchange, or from a private company, in most circumstances, you would pay for your health insurance with funds that have not yet been taxed. Then, of course, you would take your taxes out of your paycheck along with taxes for other expenses. |
Can I Get Life Insurance If I Am Obese? | Yes , most people can get life insurance if they are obese . There are some policies that have no weight limit , although those policies are restricted by age , face amount , and the type of policy . Policies with no weight limits are especially good for those who are what is medically called , `` morbidly obese '' . There are other policies that have high weight limits , and those policies are well adapted to persons who are medically classified as `` obese '' . |
Can you get life insurance if you are obese? Yes, you can. However your options are limited and you may have to settle for a graded policy. Insurance companies don't like overweight people. Why? because historically, it is a factor for increased risk. So they charge more, up to a point. If height to weight ratios get too far out of proportion, underwriting stops. Options are limited because underwriting is more involved for an obese person. Medical history becomes important because many of the complications of obesity show up in the medical history. |
How To Get Health Insurance When Pregnant? | You may be able to get coverage through Medicaid . There are no open enrollment period restrictions for this program . However there are needs based criteria which are often extended for pregnant women . Each state has very different rules for who qualifies . Contact the Medicaid office in your county to see if you qualify . |
You can get health insurance coverage if you are pregnant. As an experienced broker with more than 33 years of experience, I have good news for you. During Open Enrollment, maternity benefits are included and a federal subsidy could substantially reduce your rate, depending on household income. There are many types of plans available with various types of benefits. It's important to allow a broker to help find the best plan options so you save time and money, and get enrolled in the best plan. |
What Is Reduced Paid Up Whole Life Insurance? | Reduced paid up whole life insurance is a policy for which the policy owner no longer wanted to pay premiums , but did not want to lose the death benefit . Rather than surrender the policy , or take the cash value , the policy owner decided to turn the policy into a reduced paid up whole life insurance policy . It has a lower death benefit than the original face amount of the policy , but requires no more premium payments and will pay out the stated , reduced benefit when death occurs . |
Reduced Paid Up Whole Life Insurance is a reduced amount of the original Whole Life insurance paid up completely. The amount of paid-up insurance is reduced because the paid-up amount is based on the cash value in the policy at the time the paid-up option is chosen. If you wanted to use the reduced Paid Up option because you no longer wanted to pay the premium, but wanted some coverage, you might find that the amount of insurance you get in exchange for the cash value in your policy is far less than you expected. If you want to quit paying premiums and get some coverage, it would be better to use the surrender option, and take the cash value in the policy. Then you can invest the cash value and get more money that way. Using the reduced Paid Up option simply because you have too much insurance for your budget and want to quit paying premiums is not advisable unless you are certain you no longer need that amount of insurance. |
How Long Does An Auto Insurance Claim Stay On Record? | Great Question . Usally a car claim stays on your insurance record for 5 years . Most insurance companies do not charge you for that accident if it is past 3 years . Some companies do not charge you for an accident if it is less than $ 1000 payout so check with your particular insurance company . |
This varies by company, state, and type of claim. Some companies never remove a claim from your file. Some will remove a claim after five years. Some will remove the minus from your driving record after three years. If there is just a small claim involved, with little or no money exchanged, the favorable result is that many insurance companies will not count that as a claim. |
Can I Get Disability Insurance If Already Pregnant? | Can you get disability insurance if you are already pregnant ? Yes , but not for the pregnancy . It is possible to get disability insurance while pregnant , but disability insurance plans use a pre-existing condition clause in the policy to prevent a person from going on immediate claim when they purchase the policy . |
Unfortunately, you can not get disability insurance while already pregnant. The pregnancy would be considered a pre-existing condition, as it would be a certain reason for the disability policy to pay out. As soon as your baby is born, you can apply for either long or short term disability insurance. |
Is A Psychologist Covered By Health Insurance? | The short answer to this question is `` some times . '' Psychology is usually is covered by most health insurance plans , but not always . It is also important to note that most insurance policies will have a limit on the number of visits that are covered each year , and that not all psychologists accept all health insurance policies . Before seeking care from a psychologist , you should make sure they accept your personal health insurance policy , and also contact your insurance provider or consult your policy to find out if there are any limits on the number of visits covered each calendar year . Some companies may also require you to see your primary care doctor in order to receive a referral to see a psychologist . If you do not yet have health coverage , I would encourage you to consult an independent licensed , certified health insurance agent that can review your situation and make a recommendation on which policy would be best for you based on your personal needs . |
If your psychologist is part of a mental health professional practice, is not an independent contractor and does not rent office space from your health insurer, then more than likely your health insurer covers your psychologist. Of course your psychologist must be deemed as an approved provider by your health insurer and you should always verify that your psychologist is an approved provider before rendering services. |
How Much Is Health Insurance In The USA? | Expensive . You can choose different plans with varying coverages , deductibles and benefits but the bottom line is that Health Insurance is very expensive . Insurance companies are constantly trying to create products that will not only fit the public 's need but are affordable . In the end health insurance is more expensive when you need it and do n't have it as medical care is enough to wreck your financial life . Be creative in your quotes and try to find an affordable solution , even if you ca n't have all the coverages available . |
Health insurance in the USA has rates that vary greatly based on many factors. Perhaps the largest factor is the cost of care in your area -LRB- e.g. the cost of hospital care is higher in some areas than others -RRB-. The type of coverage you select also matters greatly -LRB- e.g. a catastrophic plan costs less than a comprehensive plan -RRB-. Your age is also a huge factor. The average cost per person in 2014 was approximately $ 328 per month. The actual cost for you depends on the factors above. |
How Good Is Genworth Long Term Care Insurance? | There are not many long term care insurance companies -LRB- LTCi -RRB- left in the extended care market place . Perhaps there are a half a dozen worth your consideration . Genworth is one of the top LTCi companies in the U.S. . They generally rank well in annual premium cost against the competitors and offer excellent policy language in their contractual definitions . |
Genworth is a top rating carrier and one of the leading long term care providers in the U.S.. Their policies are very competitive and offer all the bells and whistles that the industry has to offer. But perhaps their strongest position in the LTC market is their claims paying ability. They have a history of staying on top of the market with reasonable rate increases that seem to always be below the industry standard. |
Is Medical Insurance Mandatory? | Starting in 2014 the Patient Protection and Affordable Care Act or Obamacare requires every American to have health care . You may not have to pay for health care in you economically demonstrate you can not pay by means testing . If you elect not to pay for health care , and by means testing can pay , youll be assessed a penalty at the time of filing your taxes . |
The answer to your question is `` No ''. Health insurance has always been a voluntary product except where government intervention requires an employer to offer health insurance as a condition of employment. While ObamaCare does require employers to offer health insurance to their employees it does not force an employee to use that coverage if they don't want to. An employee can decline coverage without being penalized. |
What Life Insurance Is Best Term Or Whole? | That is a matter of personal opinion . I would recommend whole life insurance first . Whole life insurance has a lot more going for it in the long run . It typically builds cash value , is set to active until age 125 -LRB- as of now -RRB- , and it also has other benefits depending on the carrier . Whole life insurance is typically the more costly option of the two types . Term life insurance will typically allow someone to secure higher dollar amounts in coverage but at a lessor cost than whole life insurance , but it remains active for a set period of time . Typically 10,20 , or 30 years . Most people opt for a combination of whole and term life insurance to meet their needs . Contact a local agent to discuss yours and your family 's coverage needs . |
That depends on who you ask and your personal situation. Term life insurance can provide you with larger amounts of coverage at a lower cost but is only active for a set period of time. Whole life on the other hand will technically be considered paid up at age 100 or 121 typically and will normally build some cash value over time. There are many more reasons for each type. Please contact a local agent to discuss your specific needs and wants out of a policy so that they can provide you with the best options that they have available. |
Can I Get Insurance On A Car That I Don't Own? | As long as you are an authorized driver of that vehicle and the vehicle 's owner has coverage on the vehicle and you reside at the same premise as the vehicle owner you should be able to secure liability coverage for yourself on that vehicle . Contact a local agent to find out more about coverage availability and pricing in your area . |
Yes, if you drive the car regularly then you want to get a Non-Owned auto policy. This is common for example if an elderly parent who does not drive owns the car but you use the car. Talk to a good local independent agent to find a competitive auto insurance plan that will meet your needs. |
Does Auto Insurance Cover Road Hazards? | That depends how you are defining road hazards . If you are referring to objects in the road , you are covered if you run over them or if they kick up from the road and hit your vehicle . Collision claims typically have a higher deductible than a comprehensive claim . Glass breakage is often covered with no out of pocket cost . |
I hope I understand your question correctly. I'm assuming you're asking if an auto insurance policy provides coverage if you hit a pothare on the road or something like that. If you hit a pothole or a road hazard of some kind, and you total your car, it should be covered under the comprehensive portion of your auto insurance policy. If you have a roadside assistance endorsement on your policy, you may be able to get help in towing your vehicle to a garage or repair facility. You may have to pay a deductible for the repair. If you have a good insurance agent, he/she can check on the specifics for your policy. |
Does Auto Insurance Have To Be In Your Name? | In Illinois , the vehicle one is driving must be insured or a fine may be imposed . So in that regard , no , the policy does not need to be in your name . However if you own the vehicle you are likely going to be legally responsible for any incident involving its use , so you would certainly want to be named on the insurance contract . |
Generally speaking, the answer is NO. You can still meet the financial responsibility that insurance is designed to provide by being a listed driver in a household. If you are in a domestic relationship and not married, you should probably have two names listed as first named insurers on the dec page of the policy. Laws are variable on your protection status. If you have an insurable interest due to owning a vehicle in the households, you may need to be listed to satisfy a lender. If you are not a named insured and not a legally recognized domestic partner, you may not have protection for every aspect of coverage so in the end it makes sense to be listed on the declaration page. This is less important for children of the insured living in the household due the defition of `` insured '' in the policy's. All of the latter should be confirmed by a licensed agent in your state of residences. |
How Much Renters Insurance Should You Buy? | There are two major divisions of coverage . The attention is normally focused on the personal property coverage , however the liability protection may be much more important . Select a policy that provides $ 300-500 ,000 in liablity coverage . This is where you could experience a major loss . The property portion should reflect the cost of actually replacing the contents of your rented home or apartment , should they be lost through a covered peril . |
You should ask yourself, How much can I afford to lose? That will give you a simple answer. However, most buyers of tenants insurance fail to recognize the problem of legal liability. If someone is injured while on your rented property, they will potentially sue you. The cost of defending a suit and paying the judgment could easily force a person into bankruptcy. While the personal property is important coverage for liability is even more important. So, buy what you need and take the highest liability option available. |
What Is Accident And Critical Illness Insurance? | In the United States , Accident and Critical Illness Insurance generally refers to two different types of policies . The first , Accidental Death Insurance , pays a lump sum benefit to the beneficiaries of those who suffer accidental death . Critical Illness Insurance pays a lump sum benefit to the insured person who is diagnosed with a serious health condition . |
Accident and critical illness insurance are two separate things. A critical illness policy pays a lump sum to the insured upon diagnosis and treatment of a specific list of covered conditions. An accident policy pays for injuries sustained in an accident and covers a more limited list of possible accidents than a general disability insurance policy. |
Does Life Insurance Count Net Worth? | If your question is about applying for life insurance , the answer is yes . An underwriter will want to know your net worth along with your annual income and time in your current occupation . This information is needed in addition to height , weight , age , place of residence , health , medical history and lifestyle . All of these factors are used to calculate your mortality . If your question is about counting life insurance as an asset in your net worth , the answer is maybe . If you have term life insurance , then no , the face amount is not counted as an asset . However if you have a cash value plan , yes the current cash value of your whole life or universal life insurance is part of a person 's net worth . . |
No, life insurance does not count in net worth. The cash value of a policy is excluded from gross estate for federal estate tax purposes, and does not count toward your net worth. If you are the beneficiary of a life insurance policy, the proceeds are not counted in your net worth. |
Does my sister get the insurance policy that I carry on my mom when she passes? | If you are talking about a life insurance policy that you are carrying on your mother ; the policy would typically pay the named beneficiary on the policy and the policy would no longer be active . To have your question answered more fully either contact the carrier of the policy in question or your local agent . |
The answer is maybe. Life insurance is personal property. Personal property has an owner. The owner can do whatever they want with their property. They can buy and sell, give away or gift. They can also bequeath or devise property to a person or organization. A sister can be considered an owner of life insurance on a sibling. On the other hand, a daughter can be considered the owner of the life insurance on a parent. It may be important to consider the state you live in and the state in which the life insurance policy was written. The laws vary by state. In Texas, a spouse can not be the owner of a life insurance policy on a parent unless they also have an insurable interest. An insurable interest means that the spouse, in this case, the daughter, has the potential for financial loss because the parent, mom in this case, does not have the financial means to cover the daughter financially after the death of mom. Financial means is measured by assets and income. If the daughter can not show the ability to cover expenses after the death of mom, she may not be named the owner of the policy. She can be the beneficiary but not the owner. This means that the sister, although the owner of the policy, would not be considered |
Who Is Universal Life Insurance For? | Universal Life insurance works well for people who want lifelong coverage at the lowest possible price . GUL -LRB- Guaranteed Universal Life -RRB- can be guaranteed not to lapse to age 120 + at a level premium . Because GUL has very low cash value , the premium can be kept relatively low for permanent coverage . Indexed Universal Life is a good product for those who want a safe way to save up money for retirement income . Unlike GUL , IUL is used to create large amounts of cash value that can be borrowed tax deferred during retirement . So Universal Life really can work for almost anyone . It is flexible and can be adapted for a lifetime . |
Universal Life Insurance is for persons who are looking for a low-cost permanent policy that does not accumulate cash value. It is for persons who want a policy that they can adjust to last a certain number of years, yet is flexible enough to possibly extend beyond that time. It is for persons who want a permanent policy but do not want to pay too much into it. |
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