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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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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-

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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

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 .

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 .

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 .

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 .

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

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 !

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 .

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 .

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 !

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 .

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 .

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

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 .

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 '' .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 . .

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 .

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 .