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Where To Complain About Home Insurance? | If you have an agent that you trust, start there. Insurance companies respond to complaints and you can usually reach the company by mail, email or in many cases, directly through the company website. The insurance commissioner in your state is also interested in your complaint. My recommendation is to approach the three levels that I mentioned one at a time, giving each sufficient time to respond. If you complain everywhere at once, it can cause a lot of confusion. |
What Is Aetna Life Insurance? | Aetna Life Insurance is a Final Expense type policy. Final Expense meaning a policy which gives you a lower face amount with minimal underwritting needed. $35k is the maximum death benefit you can get. There are 3 different plans available. A level plan, graded benefit plan, and a modified benefit plan. Even if you are not healthy, you may qualify for a policy. If you would like more information, please do not hesitate to contact me. Thank you. |
Is Life Insurance Taxable To The Beneficiary In Illinois? | Life insurance proceeds are not taxed. The proceeds are directed to the named beneficiary. This is also a great option for estate planning. Tangible assets depending on how it's structured, may be taxed. It's best to meet with a licensed professional to design a program that can eliminate taxes to be paid. Life insurance can offset any taxes to be paid. |
How Long Can You Keep A Child On Your Health Insurance? | One of the first changes to come from the passage of the Affordable Care Act (ObamaCare) when it was passed in March of 2010 was to extend the period of time that a child could be covered as a dependent under their parent's major medical insurance. Children can be covered under their parent's health plan up to age 26. The child does not have to be dependent uponthe parent and it does not matter if the child is employed and has coverage available through their job or if they are married and could be covered under their spouse's health insurance. |
What Does SR22 Insurance Cover? | An SR22 is nothing more than an administrative trail of the status of your auto insurance coverage. The form is filed because the State licensing agency has determined a need to be aware of the status of your coverage, usually due to failing to have insurance or having committed any of several offenses of driving laws. An SR22 is merely attached to your insurance record and your carrier agrees to submit status updates to your state bureau of motor vehicles. An SR22 does not provide any coverage. |
What The Cost Of Long Term Care Insurance? | Yes, Medicare covers DME supplies if they are prescribed by your doctor and are for use in your home rather than in a health care facility, long term rehab center, etc. In addition, Durable Medicare Equipment must be long lasting, used for a medical reason, and not useful to someone who is not sick or injured. |
Can Auto Insurance Companies Drop You? | It can vary a lot from one person to the next, and even what city and state you live in. In my area of the country (the mid-west) I would save an average person spends from $60 - $150 / month for full coverage car insurance. Your credit will play a role in your rate as well as your driving record and even what other drivers might have access to your car. |
What Is Face Value Of Life Insurance? | 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 doesn't 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. |
Where To Get The Best Health Insurance? | You can secure health insurance by enrolling in the Patient Protection and Affordable Care Act (PPACA) or Obamacare. Youll need to find out if your state sponsors one of the health exchanges. Not all states do. Enrollment starts October 1, 2013. You can also go online to see the listing of local medical agents who offer health care as part of their practice. |
What Is A Deductible For Health Insurance? | Car insurance rates on a 19 year-old will vary, depending on where you live, your driving record, the type of car you own and your coverage. It could be quite cheap or fairly expensive, if there are multiple violations. As an experienced broker, our job is to shop all of the top companies for customers and utilize our websites to research and compare the best choices. |
Why Is Long-Term Disability Insurance Important? | You're generally getting your health insurance coverage from one of two places, the individual market or your spouse's group coverage. If you qualify for a subsidy, you would want to look at health insurance ON the exchanges - subsidies can only be used for on-exchange policies. The first open enrollment period under the Affordable Care Act ended on March 31, 2014. If you're looking for an individual policy, you will need a special enrollment period (a qualifying "life-changing event") to purchase a plan outside the open enrollment period, otherwise you may be subject to paying a penalty. The penalty in 2014 is the greater of: 1) 1% of your yearly household income featuring a maximum penalty as the national average yearly premium for a bronze plan. 2) $95 per person for the year (If under age 18, then $47.50) featuring a maximum penalty per family of $285 under this method. The penalty figures will change in future years. Consulting with an experienced broker is always a great first step to learn more about plans available in your area and discuss and compare quotes. Please feel free to contact me for further assistance. Thanks very much. |
Does Homeowners Insurance Cover Legal Fees? | If you are sued for bodily injury or property damage, your homeowners policy will provide coverage up to the limits of the policy. In this process they will investigate and settle the claim. They are not required to provide a defense after they have paid an amount equal to the policy limit. This provides coverage for a person who is on your insured premises with your permission and is injured because of a condition on the premises or an activity that involves you, This also covers your domestic employees and animals although there may be limitations to the coverage on dogs. There is also limited coverage for other peoples property that is damaged by you. |
Who Qualifies For Life Insurance? | Because life insurance is all about statistics companies can provide life insurance for individuals in a wide range of health. There are some who cannot obtain coverage because their longevity is in immediate risk, however, many who consider themselves uninsurable actually can obtain coverage. When life expectancy is not very long, the premium for the coverage is going to be quite high. |
How Does A Whole Life Insurance Loan Work? | Health insurance for individuals is available from almost all major health insurance companies. The cost is based on many factors including your age, zip code, height/weight, smoking status and health conditions. Monthly rates could be as low as $22 for a young person covered on a short-term plan. However, the rate could also be several hundred dollars per month (or much more) if you were older and had some serious health issues. In 2014, health conditions will not be used in determining the rate you pay. Also, a federal tax subsidy will be available for those that qualify. State Exchange Marketplaces will be operational in each state. An experienced broker and also a very reputable website can provide specific prices and quickly determine the best plans for you. There is no cost or fees when a broker is used. Myself, like all other agents/brokers never charge any fee. |
Can Life Insurance Companies Check Medical Records? | Yes, absolutely they can. When you fill out an application, you give them permission to check your medical records, and unless your policy is extremely small, they certainly will check those records. That is the only way they can be sure they are not missing a major medical issue you were not frank about. Protect yourself. Be honest and get the coverage you need. If necessary, drop the amount, so long as you have coverage for your family. Thank you. GARY LANE. |
How Would You Calculate The Expected Return On A Life Insurance Policy? | Before you break out your HP12c calculator, consider this. Almost all proposals illustrate internal rate of return on both death benefit and cash values. If you have an existing life insurance policy you can order whats called an in force ledger and request the internal rate of return on both death benefit and cash values. |
What Happens If I Can't Get Homeowners Insurance? | Any Home or Auto insurance company can drop you. Home insurance is not guaranteed renewable. The company has a right to drop you or raise your premium at each renewal. This can be done because of claims experience, deterioration and maintenance of your home, or in some cases a company will pull out of an area or state completely. This happened in Florida because of the frequency of hurricanes. |
What Type Of Water Damage Is Covered By Homeowners Insurance? | Not all! Accidental discharge of water and its attendant damages is normally covered. This means when there is an accidental discharge of liquids or steam from the plumbing, heating or air-conditionaing the loss is a covered loss. It is very important to understand what is not covered. Flood is one of the most common causes of loss in the US and the homeowner's policy does not cover it. Water back up such as from a blocked sewer line is not a covered loss (some companies offer the coverage as an option.) When there is repeated or continuous seepage or leakage from a system in the house that is not covered. |
Can I Cancel My Health Insurance Without A Qualifying Event? | As long as it is not a group plan or a Medicare Advantage plan you can. An individual health plan or Medicare Supplement can be cancelled at any time. A group plan may require a qualifying event in order to make changes. A Medicare Advantage plan can only be changed during the annual Open Enrollment unless there i a qualifying event. |
Does Homeowners Insurance Cover A Lost Wedding Ring? | Not if the ring is not "scheduled" specifically for coverage as a rider to your Homeowners' policy. Homeowners covers your belongings for specific perils, as listed in the contract. If an item is "lost" or "mysteriously dissappears", these unfortunately are not covered perils in a Homeowners policy. If the ring is scheduled on a rider or insured separately on it's own such policy, then the lost ring's replacement would be covered. |
Can an employer charge higher rates to older employee? | How much does a New York Life agent make? Well it goes from zero to millions, depending on the agent. New York Life is a commission based company that pays agents for completed transactions in insurance and equity investments. Since the company is based in New York all commission payments are based on the State of New York's restrictions on commissions. So in many cases this means the New York Life agent makes less upfront on sales than other agents. Commission payments tend to be stretched out over time with the policy. |
How Does Homeowners Insurance Escrow Work? | It is always best to talk to your Insurance Professional about the specific terms and conditions of your policy. In general, a Homeowners policy will help you with damage that is caused by a "covered peril" as they are listed in your policy documents. There may be situations where the water damage to your interior walls but the repair of your roof may not be included. In general, Insurance does not pay for damage that is an ultimate result of wear and tear or neglect so it is always a good idea to look over your property as each season changes to see if anything needs attention. |
Which Car Insurance Company Is Best? | Car insurance companies that do business in your state are regulated by two state insurance commissioners, your state and the state where the company is domiciled. Your state commissioner is trying to allow companies to operate in your state that will keep their promises. The best auto insurance company is one that keeps its promises. |
Does Grange Auto Insurance Cover Rental Cars? | MetLife and its related companies have the most assets and life insurance in force than any other U.S. Company. John Hancock has the best five year net investment yield of U.S. carriers.There are life insurance companies who are the number one in several critical balance sheet items. |
Is Garage Door Covered By Homeowners Insurance? | A garage door is part of the dwelling so this means the garage door is covered by the same perils of the policy as the rest of the home minus your deductible. If it's attached to the home is part of the home. If it falls free then it's personal property and not dwelling. |
Who Regulates Variable Annuities? | Life insurance agents' wages vary widely in Illinois, as they do across the nation. If the agent has a lot of high wealth clients and can sell a large range of products, they can make hundreds of thousands of dollars. On the other hand, many agents in Illinois and other states are unable to make a living in that career. How much you make depends on hard you work, who you know, and getting some breaks. |
Can The IRS Seize Life Insurance Benefits? | When you purchase disability insurance through a website or a local agency, remember to ask for quotes from at least two carriers. Most agents have the means to receive quotes form multiple carries, so they can show you a few different options. Don't just pick the cheapest product. Listen to your agent when she explains the different riders and provisions so you receive the BEST policy, not the most inexpensive. |
What Is Mutual Whole Life Insurance? | A mutual life insurance company is owned by their policy holders who select a board of directors, generally by a proxy vote to operate the company on their behalf. Every year the board of directors generally declares a dividend which in turn is distributed pro rata to their policy holders. |
Is Life Insurance Considered Income? | No, life insurance is not usually considered income for income tax purposes. If you receive the death benefit in regular payments rather than a lump sum, the interest only will be considered income. There are some caveats to this, especially with cash value policies. But generally speaking, life insurance is not counted as income. |
What Is The Average Car Insurance Rate In Utah? | Auto insurance is priced based on several variables including: The type of car covered The age, gender, and marital status of the insured The coverage amounts elected by the insured For this reasons it's difficult to say exactly what you'd pay for coverage in any specific state However it is potentially noteworthy that Utah ranks number 12 within the nation for cheapest states in which to purchase auto insurance. This statistic comes from Bankrate. |
What Is Deferred Annuities? | Now that there is Open Enrollment for health insurance, here are the general guidelines. In 2014, Open Enrollment will run from 11/15/14 - 2/15/15. The earliest effective date will be 1/1/2015. There are certain events that will allow you to get health insurance outside of Open Enrollment. For example: If you lose employer coverage, if you have a change in your income, if you have a child, etc. |
What Is Covered With Renters Insurance? | Your coverage will vary from policy to policy and carrier to carrier. Typically a renters insurance policy will provide coverage for losses caused by fire, smoke, lightning, and other perils. It will also typically provide some monetary coverage for accidents that occur on your covered premise that you are deemed responsible for and money to secure another place of residence after being displaced by a covered loss. Remember every policy is different. Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you. |
Does Being Unemployed Affect Home Insurance? | $20 a month, if you have a serious accident and can't afford your $750 deductible it does not make any difference. I hope this helps. |
How Much Auto Insurance Should I Have? | I always recommend the highest limits of liability that you can afford. If you have a good insurance score, and a clean driving record, the premium difference between 50/100 (50k per person/100k per accident) and 100/300 will not be much relatively speaking. Also, it is a good idea to have a high limit of liability for property damage, such as $100,000. The national average vehicle liability award in 2008 was $326,628. That said, I always recommend at least 250/500 limits of liability. Additionally, I always recommend having an "umbrella policy" to increase your limits of liability. Ask your insurance agent for a quote on a $1,000,000 umbrella policy. Be sure to tell your agent of all properties or vehicles titled to you. |
What Is Philippine Prudential Life Insurance? | Philippine Prudential Life Insurance Company (Philippine Prudential) is a 100% Filipino owned financial services company. They offer endowment plans, whole life plans, group and permanent plans, healthcare coverage, education and pensions policies, and credit insurance. Philippine Prudential Life Insurance Company was established in 1963 and is headquartered in Pasig City, Philippines. |
Should I Do Long Term Disability Insurance? | High deductible health insurance plans (often referred to as "HSAs), are one of the cheapest types of medical policies available to individuals and families. They are offered in every state by most of the largest insurers. Rates can vary between $40 and $500 per month, depending on your age, where you live and the deductible and co-insurance you select. If you qualify for a federal subsidy under Obamacare, your premium will substantially reduce. |
How Much Should Long Term Care Insurance Cost? | Long term care insurance premiums will vary greatly according to age, health, features of the policy, and area in which the policy is purchased. However, you could look at the federal guidelines for how much premium can be exempted on income tax returns, to get a general guide for life insurance premiums. In 2013, they are: 40 and under: $360/single, $720/couple 41-50: $680/single, $1,360/couple 51-60: $1,360/single, $2,720/couple 61-70: $3,640/single, $7,280/couple 71 and up: $4,550/single, $9,100/couple |
What Does It Mean To Have A Deductible On Health Insurance? | Think of the deductible as a form of self insurance. In other words, the portion you'll pay before insurance begins to pay on claims. Health plans usually offer a choice of deductibles have a lower premium cost if you choose a higher deductible. A higher deductilbe means you accept more cost upfront for the use of a health plan in order to receive a lower premium cost. After the deductible has been met, usually you go into a phase called "co-insurance". Co-insurance is the phase where you and the insurance company split the bill for care. A co-insurance level may be 50-50, 60-40, 70-30 or other combinations depending on your plan. For example if you had a plan with a 80/20 coinsurance provison and a $500 deductible and a bill for $2500 for a service. How it would be split up is as follows. The first $500 of the bill is yours. Of the remaining $2000, the insurance company pays $1600 towards the bill and you have an additional $400. Please note: once you've met your deductible for the year, you will no longer be charged it for claims, Co-insurance would be next. Then once you've met your co-insurance limits, your claims for the balance of the year (not counting copays) are covered at 100%. |
What Is Retirement Survivors And Disability Insurance? | Retirement, Survivors, and Disability Insurance is a reference to three of the benefits that Social Security pays to those who have paid into Social Security taxes. The "retirement" part refers to Social Security income that people get when they retire. the "survivors" part refers to the Social Security income benefits paid to dependents of a qualified deceased person. And the "disability" part refers to Social Security Disability benefits disabled persons receive if they are qualified. |
Does My Life Insurance Cover Skydiving? | When you applied for the life policy you probably had to indicate if you were involved in skydiving. If at the time that you completed the application you answered that truthfully and the company did not exclude skydiving from your policy, you are probably covered. If there isnt an exclusion for skydiving and the policy is more than two years old, you are probably covered. The statements on an application are representations and must be factually correct to the best of your knowledge. |
What Is The Age Limit For Health Insurance? | The age to remember with health insurance is 26. Under the Affordable Care Act, children can stay on their parent/guardians health insurance until the age of 26 regardless of marriage status or enrollment in school. After the age of 26, the person must obtain their own insurance. Those under age 30 can obtain catastrophic insurance coverage for lower premiums than other ACA-compliant policies. With a catastrophic plan, preventive care is covered, but the individual is responsible for 100% of the cost up to the out-of-pocket maximum, which is $6,350 for individuals. |
What License Do I Need To Sell Disability Insurance? | The license needed for disability is a health insurance license. However, something just to consider, go ahead and get both your life and health insurance license. You will find that most clients in need of disability also will need life insurance and vice versa. Also, some states will not grant you reciprocity unless you have both your life and health license. You may wish to cross license in other states as you grow your practice and this will become an issue. It really doesn't cost much more or take too much more of your time to carry both license together. Good luck! |
Can A Term Life Insurance Policy Be Cashed Out? | Probably your term policy cannot be cashed out. There are term life policies that do develop a small amount of cash value; however, these policies often have restrictions as to when and how the policy can be surrendered for cash. If you want cash value in your life insurance program then speak to a licensed life insurance agent about permanent life insurance. |
Can I Drive My Parents Car With Their Insurance? | Tax deferred annuities have inherent financial value to those who are suitable to purchase the product. Any savings or investment vehicle can be misrepresented or misplaced in a financial plan. But that's a problem with the adviser, not the product. For those in high tax brackets or just someone who wants more than the banks are offering, annuities can make a real contribution to a retirement plan. |
Who Is The Best Auto Insurance Provider? | Because insurance is regulated by each state, there really is not only one answer to that question. Insurance companies are rated online for their financial strength, and customer satisfaction by several independent reporting agencies. My company posts our results on our website here: WEBSITELINK People choose different companies for different reasons, A friendly referral, price, or special features. What is most important to you? |
What Kind Of Insurance Is Needed For A Home Daycare? | Great question! One of great things about life insurance (as well as annuity contracts and IRA accounts) is the disposition is generally controlled by the beneficiary designation. Courts are very reluctant to interfere with a valid beneficiary designation. When do we see problems? When the account is not periodically reviewed and the beneficiary designation -- for example a parent is named and they have passed away but no new beneficiary has been named. Of course life insurance proceeds will generally become part of the probated estate when the estate is named as the beneficiary. Easy fix? Be sure to name primary and contingent beneficiaries and review them periodically! Hope that helps... |
How do I know when my car accident claim is complete? | That would depend on your state regulations. In most cases landlords will recommend renters insurance and their are a few that will require it as part of the lease agreement. Renters insurance is there to protect both you and the landlord. Remember if the apartment building or the home you are renting were to burn down the landlord is not responsible for the replacement of your personal property in most cases and they typically will not provide the funds to secure another residence. Renters insurance can help with both. Contact your local agent to find out about all of the coverage offered with renters insurance and any exclusions that there may be. |
Does The Car Insurance Cover The Driver Or The Car? | The rule of thumb with auto insurance is, it follows the driver first and the vehicle second. If you are driving a vehicle that is not yours your auto insurance will typically provide coverage for the accident first and then if the claim exceeds your coverage a claim could also be charged against the vehicle owners auto insurance coverage. |
When To Start Long Term Care Insurance? | Conventional wisdom is no later than age 50 when the potential morbidity events begin to increase and at age 62 for price considerations. Establishing a long term care insurance policy is part of defensive retirement planning and should be a high priority based on life expectancy and the average cost fo extended care during your senior years. |
What Is Covered Under Medigap? | The best life insurance in Delaware will be a plan that fits your age, health and needs. Some companies specialize in wonderful Whole Life insurance, but their Term policies are not competitive. Some offer outstanding Term rates, but don't even carry Whole Life. You need to visit with a knowledgeable agent to determine the best policy in Delaware for your personal profile and the type of policy that will work best for you. |
Where Can I Get Insurance Without A Car? | The average cost in the country for a health insurance plan (overall) is estimated to be about $328 per month - however, this is only reflective upon a silver level plan (not all 2014 state figure averages are available yet).While you can try to come up with an "average" cost, there's too many factors that go into premium pricing to say how in relation that compares to an individual as compared to the overall group. In short, an "average" premium is a rather useless figure to the individual. It's only representative to a large group - you could have people paying a small nominal amount (after factoring in subsidies) per month to several thousand dollars per month. Even for that there's a ton of information to sift through to get an accurate representation. Under the Affordable Care Act, you have the options for bronze, silver, gold, and platinum level plans (as you go up in metal, the price goes up, but provides better benefits) - some areas also have a catastrophic plan available. In addition, your age and zip codes are big factors as well. The younger you are, the cheaper your premium - the older you are, the higher your premium. Also, if you use tobacco products, your premium can be increased up to 50% as well. I always recommend consulting with an experienced broker regarding your personal health coverage. We can work with you to look at a wide range of options from many of the top carriers in the industry and find the plan that's going to be best suitable for your needs. Please let me know if I can be of further assistance. Thanks very much. |
Can I Get Sr22 Insurance Without Owning A Car? | When a whole life policy is purchased on a minor, it is called juvenile whole life. New York Life actually has a Family Policy which covers both parents and includes juveniles for free. You can also purchase an individual policy and add a juvenile to it as a Rider. The method I suggest is purchasing a whole life policy for a juvenile of their own. The cost is incredibly low, and it not only guarantees insurance, but insurability for a child that may develop any of numerous illnesses, as they get older or even as a child. Gary Lane, Registered Representative, New York Life, 949 797 2424. Thank you. |
Can You Stay On Parents Health Insurance If Married? | Auto insurance will cover cracked windshield under yourcomprehensivecoverage portion of your auto insurance policy minus your deductible. They type ofoccurrencescovered by comprehensive would befallingobjects, flying objects, (rock being the most common) vandalism, temperature changes. Discuss with your local agent about comprehensivecoverageand deductible optionsavailable to you. Comprehensive may have a zero deductible glass option. |
Can You Cancel A Whole Life Insurance Policy? | Well, yes, you can. Speak to your insurance professional about the pros and cons of cancelling before you decide, however. Keep in mind that depending on the contract, if by surrendering the policy you receive any cash proceeds that may have built up in the policy while it was in force, this could trigger a taxable event. That is why it is a good idea to speak with your professional agent and weigh you options carefully before choosing the course that best suits your needs. |
How Do I Notify Medicare Of A Death? | An employer cannot discriminate against an employee based upon their age (among a multitude of other factors). However, that does not necessarily mean that an older employee who compares what they are contributing towards their employer based health insurance with a younger co-worker of the same coverage level will find themselves paying the same amount. This may initially be perceived by the older employee as though they are being discriminated against but this is almost certainly not the case. If your employer's group health insurance rates are age based rates then there is a different rate for each year of age for a covered employee. The community rating requirements of ObamaCare have pushed many health insurance carriers towards this age rated basis though some health insurance carriers still develop a "composite" rate for a group after quoting them on an age rated basis (composite rates are one rate for every employee with Employee Only, Employee+Spouse, Employee+Child(ren) or Family coverage regardless of the employee's age). This is how things work under community rating. First of all, there can be no more than a 3 to 1 ratio between the rates for the youngest and oldest employees in the group. To keep things simple let's say the monthly rate for a 25 year old is $200 per month then the monthly rate for a 60 year old would be $600 per month. Then let's say that your employer pays 50% of the employee only rate which leaves the other 50% for the employee to pay. Under this scenario the 25 year old's cost would be $100 per month ($200 x 50%) and the 60 year old's share would be $300 per month ($600 x 50%). Even though the dollar amount paid by each employee differs significantly the employer is treating them the same in that the employer is contributing the same percentage amount towards each employee's coverage. Therefore, there is no discrimination. This is one of the effects of ObamaCare that is increasingly being seen by employees as their old health insurance plans and rate structures are being replaced by ObamaCare compliant plans and the new community rating method. |
Does Where You Live Affect Your Car Insurance Rates? | Anyone who has Medicare will have noticed their Medicare number is generally their social security number with a letter added on to the end. If you see the letter "T" in your Medicare number, this means you have both Medicare Parts A & B, but are not yet receiving social security benefits. |
Why Is It Important To Plan For Retirement Now? | The longer you plan for retirement, the beterchance you have of being able to retire. You never know what curve balls life is going to throw your way. Putting away money while you can is always the best strategy. Even if you go into retirement with no debt, it can take 70% of your pre-retirement income to maintain the lifestyle you want to lead. Starting now will give you time to reach your goals without having to sweat too much if you get sidetracked along the way. |
Who Writes Vacant Home Insurance? | There are many carriers that will write coverage for a vacant home. There are of course requirements/standards that the home must meet before a carrier will provide coverage. A carrier that is in my geographic location that I work with that provides this type of coverage is Foremost. I would suggest contacting local agents in your area to find out about availability and pricing in your area. |
How Much Is A Premium For Health Insurance? | A premium is the amount you pay to the insurance company in exchange for coverage under a given policy. When a certain type of claim is made, the insurance company is going to pay the claim instead of you up to the defined amounts as stated inside the policy - for health insurance, the policy may only state the carrier is going to cover a percentage of the claim/fixed dollar amount and you would pay the difference (your coinsurance or copayment amount) Unfortunately there's too many factors that go into premium pricing to say what an average plan costs. Your age is a big factor - the younger you are, the cheaper your premium - the older you are, the higher your premium. Also, if you use tobacco products, your premium can be increased up to 50% as well. If you're an individual buying on or off the exchange (and not securing group coverage through an employer), you need to consider the level plan you want. There are four metal plans: bronze, silver, gold, and platinum.Bronze plans generally cover about 60% of your healthcare expenses, Silver is 70%, Gold is 80%, and Platinum is 90%. So, in short, the better the benefits that you want to have, the higher the premium will be.There's also a catastrophic plan, but these are only available to individuals under age 30. If you qualify for a subsidy, the cost of your premium can be lowered as well - whether you qualify for one depends on your income. This is where an independent insurance agent can really help you. They can work with you to look at a wide range of options from many of the top carriers in the industry. |
Can I Use My Car Insurance To Rent A Car? | "No well-planned retirement should be without long term care (LTC) insurance. It is the very cornerstone of retirement security." - Suze Orman. Suze addresses LTC describes how to safeguard your financial future. This is one of the few areas Suze and the insurance industry agree on something. |
Which Disability Insurance Is Best? | Critical Illness Insurance pays a lump sum to someone who is diagnosed with a life threatening illness that has a major impact on their lives. Arthritis generally does not fall into this category, and I am not aware of that condition being list in a critical illness list of covered conditions. |
Is Health Insurance Mandatory? | It may less your deductible if you have a equipment breakdown endorsement on your policy or if the HVAC system was damaged due to a covered loss. Remember every policy is different. Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you. |
Why Is Life Insurance A Unilateral Contract? | Check with your state insurance commissioner for guidance in establishing a car insurance company. There will be capital requirements that might stop you from the venture. You may find that laws are more favorable in another state for establishing an insurance company; however, you still must meet the requirements in the state where you want to operate. |
What Is Auto Insurance Stacking? | There is no need to "fix" long-term care insurance because it is not broken. However, our current system of how we as a societyassist the growing number of elderly who may have no one to take care of them is in need of serious repair. Right now, if one cannot afford the cost of long-term care, they must become "indigent", that is to say, have less that about $2,000 in liquid assets and make less than $35/mo.(those numbers are adjusted annually and may not be accurate).Assets excluded from the equation are one's house, one's car, and approximately $91,000 in savings or checking for spousal support. If you have more than that you have to "spend down" in order to qualify for government assistance (Medicaid - in CA, Medical). The problem is thatthose programs are not well-funded and may not have sufficient funds when the current baby-boomer demographic hits the age when many will need expensive long-term care. The private sector provides a solution to this problem in selling long-term care insurance to the general public. However, while highly valuable, it is also highly priced. In fact, the middle class, for which it was originally designed to help, have been priced out of the market. Agents are challenged to come up with coverage that middle class folk can afford. The state and federal government's solution is Medicaid. However, without reform, Medicaid - a partnership between the federal government and the states - will likely run out of money within the next 10-15 years. No one wants that to happen, but no one is doing anything about it right now. A congressional commission has been meeting since the beginning of summer 2013 on the matter of long-term care and should be coming out soon with recommendations for confronting the problem of how we help our elderly die with dignity. |
How Much Home Insurance Is Needed? | The amount of coverage carried on a home is determined by the cost to replace the building and contents and the requirements of your lender. In California lenders cannot require coverage in excess of the cost of replacement but when prices rise lenders sometimes pressure homeowners to carry more coverage to protect their investment. The insurance company will require an independent evaluation of the reconstruction cost and your agent is the best person to help you. There has been a great deal of discussion concerning catastrophic losses where neighborhoods or communities are destroyed. The problem then is a shortage of material and contractors to restore damaged dwellings. In these circumstances building costs can escalate quickly. If you sense that you might be in such a potential situation be sure to discuss that with your agent. |
What Is Protected Under Renters Insurance? | A renters policy covers damage to your personal property located at the residence. This would include your clothing, furniture and most other things. This coverage has a specified limit. The policy also covers you should you be sued for an occurrence that qualifies for coverage. The suit must be seeking damages for bodily injury or property damage and must not be excluded by other provisions of the policy. This coverage has a specified limit. |
Who Regulates Life Insurance In North Dakota? | It would be best if you knew the current value of your personal property and the replacement cost of the same items. That way you can compare the premiums for the two types of coverage. The only other critical thing to know is the highest amount of liability insurance that you can afford. These issues can be handled smoothly by a competent insurance agent. |
Is Profit Sharing A Retirement Plan? | Medicare Part B covers virtually all outpatient expenses including doctor visits, X-ray, MRI, CT, outpatient surgery, ER, ambulance and lab work. Part B has an annual deductible of $147 (for 2013) and then Medicare pays 80% of approved charges, you pay the remaining balance. If you have a Medigap plan your liability may be $0 if you have plan F |
Should Renters Insurance Be Required? | Tax deferred annuities are ultimately purchased for retirement income, whether in qualified plans or not. A new trend among advisers is to have a foundational income stream that can generate cash flow for the life of the annuitant no matter how long they live. Portfolio percentages differ, but a rule of thumb is 25 to 33%. |
Can You Have Two Medicare Supplements? | No - only one Medicare supplement plan will pay after Medicare pays. If you try to have 2 Medicare supplement plans, you're spending extra money on the 2nd plan for no reason because it won't pay any benefits. Only one supplement plan will pay. The cost of 2 plans would also be more than having 1 Medigap plan F that covers all 9 benefits at 100%. I hope the information is helpful - please feel free to contact me for help and if you have any questions. Thanks very much. |
How Is AD&D Different From Life Insurance? | Life insurance pays the face amount of the policy to the beneficiary named in the policy. The policy does not pay the benefit until the insured person dies. Health insurance is used by the insured person while they are still alive, to pay for their medical care, both to prevent illness and to treat it. |
What Is Cash Surrender Value In Life Insurance? | Answers above are correct, but thought you might like to know that 1. The column that is usually titled "Account Value" is the cash value that is usually used by the carrier to determine the amount of loanable money the policyowner may borrow. 2. When the cash value in the "surrender value" column equals the "Account Value", it indicates that the surrender period or charges are no longer part of the cash value equation. However, if a loan is still outstanding, the surrender charge period could be over, but the loan would be reflected in a surrender charge lower than the account value. |
What Does Long Term Care Insurance Mean? | Long term care insurance is coverage that pays for personal care needs and other related chronic care services for individuals who are limited in their abilities to perform the activities of daily living (two or more). Activities of Daily Living (ADLs) include eating, bathing, toileting, dressing, moving between a chair and the bed, and remaining continent. The policy typically pays for care that is provided in the individuals home, in an assisted living facility, or in a nursing home. Long term care insurance is available on an individual or a group basis. |
Will Annuity Rates Go Up? | When the cause of the power surge is outside the residence, damage caused by that power surge is excluded from coverage in most homeowners policies. Most policies specifically exclude damage to tubes, transistors or similar electronic component. If the type of damage you have experienced is different, please contact your agent. |
Who Offers Purchased Life Annuities? | Original Medicare does not cover routine Hepatitis C screening, but it can cover screening if approved by Medicare due to signs or symptoms of Hepatitis C being present. In that case, the screening becomes diagnostic and can be covered by Medicare guidelines. Under Medicare Advantage PPO plans, routine Hepatitis C screening IS covered. |
Can Auto Insurance Be Transferred? | Generally, an insurance policy cannot be transferred or assigned. Every personal auto policy I can remember reading prohibits assignment of the policy without the written consent of the insurance carrier. That makes sense because the carrier has a right to choose their customers and since it is their money providing the coverage, they have a right to consider any change of risk. As a general rule it makes more sense for a new policy to be written because even if the carrier consents to the change the new insured inherits the record of that policy including all the claims and payment history. If the coverage is being transferred between a spouse to another spouse after a death, the companies are not in the habit of denying the request to change the first named insured. Otherwise, per the ISO Personal Auto Policy, "Assignment of this policy will not be valid unless we give our written consent." The answer is no but there is a pathway to a "yes" if the carrier consents in writing. |
Who To Buy Long Term Care Insurance From? | It is a good idea to buy Long Term Care Insurance from a broker that carries multiple companies, or an agency that uses an LTCI broker (like ours does). That way you can be sure you are getting the most competitive rate, and will have the expertise of an agent that knows what you will qualify for. They can also guide you to the most important features, so that you can get the ones you need but not overspend for options that do not add much value. |
Does Federal Government Offer Disability Insurance? | The federal government offers two programs Social Security Disability Insurance (SSDI) that is payroll deducted, so it is classified as an earned benefit and Supplemental Security Income (SSI) that is means tested by income and assets. |
Can Car Insurance Be In Your Parent's Name? | In general, no, home insurance will not cover wet rot. A homeowners policy is there to protect you from the sudden and accidental, not the ongoing. To file a claim, you have to be able to pinpoint what happened and when it happened. Wet rot describes a long time, ongoing circumstance. Your homeowners policy is designed to make you whole after an "occurrence". It's not designed to maintain your home. If you have a condition that could, potentially, damage your home, it's the homeowners responsibility to correct that condition to protect your home from future damage. This brings up the question of the cost of your homeowners insurance. Every claim impacts the loss ratio of your company and, ultimately, your rates. Want to control the cost of your homeowners insurance? Take a higher deductible and pay for the smaller things yourself. You'll save money in the long run. |
Can Employers Charge Smokers More For Health Insurance? | Yes. Application of a premium surcharge for tobacco users has become more common in recent years, primarily in larger groups who self-fund their employee benefits plans as the employer has much more control of the benefit plan design and rate structure than they do with fully insured plans. The Affordable Care Act (ACA), while doing away with pre-existing condition exclusions, does explicitly allow for the adjustment of rates for tobacco use. So, in that sense, tobacco users are the class of employees it is legal to discriminate or penalize for their personal behavior. The ACA is silent on the consumption of Marijuana which may present some interesting situations as more states move to allow the use of medical Marijuana or to legalize its recreational use. |
Why Would I Need A Medigap Policy? | Medicare Part A & Part B only covers about 80% of the cost of your healthcare. In addition, the 20% that you are responsible for does not have a limit. No max out of pocket or cap so if something major happens you could be left with a lot of very expensive medical bills. Millions of Americans age 65 and over buy a Medigap policy to cover what Medicare Part A & B does not. There are several plans to choose from but all Medigap Plans have a letter such as Plan F, Plan G, Plan J, etc. If it doesn't have a letter it's not a Medigap Policy. I would be happy to answer any other questions you have. |
Why Is Import Car Insurance More Expensive? | An employer can establish a defined contribution retirement plan in accordance with Internal Revenue Code 401(k.) The employer is responsible for the plan documents including definitions. While not required there may be some mention of key employees. If your plan has provisions like this, they would be in the plan document which is available from your employer. |
What Is The Difference Between Medicare Advantage And Medigap Insurance? | Once rain water hits the ground it is considered to be the peril "flood". If the water finds its way into the basement that is considered "seepage" and is excluded under most homeowners insurance policies. Some companies will consider coverage under the "water back-up of sewers and drains" coverage however that is pushing the limits. It will come down to the company and adjuster to decide coverage. |
Why Would BCBSTX Offer A Rider And A Rate Up For Migraines? | It is fairly common in many states to "rate up" and exclude a condition. While this does not always seem fair, it is legal and approved by the Department Of Insurance. Your recourse? There is an Open Enrollment in October for 2014 effective dates which should cover your pre-existing condition. Prior to that time, you could apply with another carrier to see if they would cover the condition, with an added charge. But of course, do not cancel your existing policy until you have written approval and have reviewed all provisions of the contract. I realize this was not the answer that solves your dilemma, but in 2014, you might have better luck, especially if you qualify for a federal subsidy. |
How Do I Get A Life Insurance License In Alabama? | If you have a license in another state, you can apply for a nonresident license in Alabama by using the NIPR (National Insurance Producer Registry). If you are starting your life insurance career in Alabama, you must study for the licensing test, pass it, pay the appropriate fees, and use your life insurance license in Alabama to benefit your life and the lives of others. |
Why Do You Need Disability Insurance? | If you were injured in an accident or had a debilitating illness that prevented you from working, how long can you go without a paycheck? How will you pay your bills? How will you pay for your health insurance? Most people do not have enough in savings to pay the bills in the event of an extended illness. If they do, chances are it will come at the expense of the kids college fund or retirement savings. |
Does Medicare Pay For Echocardiogram? | Yes! Medicare will cover an echocardiogram. Your doctor must order/prescribe one.An echocardiogram is covered under Medicare Part B. Medicare will pay for about 80% of the costs after the Part B deductible is met ($147 in 2014) - you would be responsible for the other 20% and the Part B deductible. Please note, when you first enroll in Medicare Part B, you open your 6-month initial open enrollment period to buy a Medicare supplement plan (a.k.a. Medigap plan) with NO MEDICAL UNDERWRITING!. A Medigap plan can cover the deductibles and a portion or all of the other 20% of expenses covered by Part B and features a number of other big advantages as well. An experienced broker can help find the plan that's most suitable for you and your budget. Please let me know if I can be of help. Thanks very much. |
Can An 80 Year Old Get Long Term Care Insurance? | The time to purchase Long Term Care is when you are healthy and in your fifties or sixties. I do not know of any company that will issue a Long Term Care Policy to an eighty year old and if there were the premium would be extremely high. There are some alternatives however. Some companies will offer Short Term Care or Home Health Care policies up to age 85. While not as comprehensive as a full Long Term Care policy they can help with the high cost of care when needed. There are also other planning solutions that can help. A Long Term Care Resource Planner can help find a solution. |
What Does A Life Insurance Blood Test Look For? | A life insurance blood test is mainly looking for signs of illness, nicotine, or drug use. Many people are unaware that they have a health condition when they apply for life insurance. Life insurance exams periodically expose type 2 diabetes or high cholesterol, and enable the applicant to be treated before serious damage results. And, of course, there are those who try to hide drug or nicotine usage. So those three things are the main thing a life insurance exam looks for. |
What Is A Good Renters Insurance Policy? | Suggest that you contact two independent agencies in reasonable proximity to your residence and ask them to get you quotes from several of the most well-known National insurance carriers, including but not limited to: Hartford, Travelers, Met and Safeco. That will give you a good idea of how to proceed. |
Will Obamacare Raise My Medicare Premium? | ObamaCare Insurance was to be structured in where the young applicants pay a higher rate than the elder applicants so as to have the young paying a higher premium than would be the case if they could just apply directly to an insurance company for the coverage. That shows what the incompetence level of the "designers" of ObamaCare was. We already know we have "social security" that was designed where the young would be paying into the system, each required to accumulate 40 quarters of premiums paid, and how many times have the "legislators" been required to make adjustments to social security to keep it solvent. As you can see your premiums would depend on where you fall in that scheme-ifyou are young your premiums would ber high, if elder your premiums lower. |
When Should I Get Disability Insurance? | You should secure disability coverage as soon as you begin working full time. Disability insurance is paycheck protection. Most Americans have 90 days in cash reserves, so a disability could be financially devastating. The odds of experiencing a disability event are much higher than death, so its an important part of defensive planning. |
How Many People Use Disability Insurance? | Outside of group disability benefit plans at work, individuals owning disability insurance is shockingly small when compared to the staggering statistical odds of a disability occurring once in your working lifetime causing you to be disabled an average of 30 months. Who has enough savings in this economy to cover that? Not many! |
Can Anyone Take Out A Life Insurance Policy On Anyone? | No. There must be insurable interest as defined by economic loss at the demise of the policy insured. If no such financial liability can been established the life insurance company will deny the application. Unrelated parties with no business nor personal economic relationship cannot take out a life insurance policy on someone else. |
Does Obamacare Cover Medigap? | No, Obamacare does not cover Medigap, or any other Medicare related expenses. In fact, Obamacare actually calls for over $700 BILLION in cuts to the Medicare system over its first ten years, a budgetary item that places the benefits available to our country's senior citizens at tremendous risk. The benefits of Obamacare are only available to those under the age of 65, which basically equates to this law taking money away from caring for our nation's seniors to secure coverage for younger individuals, at least those younger Americans that do not make enough income to cover the cost of coverage themselves. |
What Is Covered Under Home Insurance? | Home insurance is designed to cover sudden and accidental losses. Home insurance is not a maintenance policy and it does not cover long term damage or wear and tear. Home insurance provides coverage for your dwelling, other structures (fence, shed ect.), personal property and liability coverage. There are several optional coverages available including Water/Sewer Backup, Law and Ordinance, Earthquake, ect. You also want to make sure you purchase a Replacement Cost policy which will provide full value for your home, not a depreciated amount. |
Can I Use My Health Insurance In Another State? | You can use your health insurance in another state, it just depends on whether it will be considered in or out of network. If it is an emergency, most companies willtreat it as an I network claim. If it is for a random MD visit, then it will most likely be treated as out-of-network |
Will Renters Insurance Cover Stolen Cash? | Notifying the carrier is often critical. If that deadline is missed,it is possible that the next opportunity to add the newborn may be many months away...possibly during an Open Enrollment period. In some states, a "short-term" plan can be purchased. Although premiums are very inexpensive, most benefits are subject to a deductible and pre-existing conditions are not covered. This type of policy should only be considered once options provided by the previous question have been exhausted. |
Can I Get Car Insurance For My Kids? | I think your question may be a bit different than perceived by the earlier respondent. Are you asking if you fly to another location and rent a car is that covered as a temporary vehicle or not and then if it is a temporary vehicle does your own insurance apply or do you need to buy liability coverage at the rental counter. If I understand the question correctly the answer is that it depends . You may have coverage as a temporary substitute vehicle to the extent that you have coverage on the vehicle you are substituting for. I would suggest you discuss this issue with your agent, so he can review what exactly you have coverage for. Keep in mind that auto insurance in the US is typically limited to the US and Canada not Mexico so when you travel to another country be sure to go over your itinerary with your agent. Some countries like Mexico do not recognize US insurance as being valid. If you get to the rental counter in another country and forgot to review things with your agent then do this. Buy at least the minimum liability coverage they have required of the locals. |
Is Accidental Life Insurance Worth It? | Accidental death and dismemberment (AD&D) and accidental death benefit (ADB), either as a stand alone policy or as a rider on a life insurance policy, is inexpensive but I question its value. In some instances, it may make sense to the buyer. I don't follow industry sales data at this granular a level but I can safely say that it is neither offered nor sold as much as it was in the past when our economy was more industrial and agrarian than service oriented the way it is today. |