Latest Updates: insurance coverage RSS

  • Why do employers carry life insurance on their employees that name them as the beneficiary?

    I believe the term for this type of is called paupers , it allows the employer to receive funds should the employee die. The employer usually has coverage well above what the employee has elected to be covered for and that goes to the family. Some employers carry a separate claim, so the employee is worth more dead than alive to them… Why is this type of legal or needed?
    from what I have read, this is not only held on key employees, but on all employees regardless of position. Great insights though, look forward to reading more.
    what bothers me, is that employers set limits on how much an employee can insure themself for, and they (the employer) have no limit. They place themself in a higher regard for loss than that of the famiy. What if the employee is the sole worker in the home, taking care of their family. The impact to the family is higher than that of the company, it is not like you can run right out and find an alternative source of income and employers can find a person to replace the employee in a matter of hours.

     

  • My car is fully paid for, and I wonder what auto insurance coverage would be the less expensive and good?

    My car is fully paid for, and I wonder what coverage would be the less expensive and good enough to get in state of California?
    1-Liability only?
    2-Liability plus collision?
    3-Full coverage?
    4-Any other type?
    Regards,
    Mo.

     

  • Auto Insurance coverage on a crunched door by a driver who drove away?

    If the car door was slammed by a passing car and damaged, crushed a little and bent, difficult to close the door, does insurance cover something like this?
    What kinds of things does insurance over, if the person who did it, drove away?

     

  • Homeowners insurance–who decides coverage amounts? Me or the insurance company?

    Hello, all–I am shopping for for our home, and it has been confusing to say the least. It is an average home built in an area where there are considerations like hurricanes (Texas Coast), and the home has been insured consistently for the past year. We have not had any claims. Regarding mortgage, there is not an "official" mortgage, as the home was owner-financed through relatives.

    How are amounts decided? I realize that we are in a high-risk area as far as insurance is concerned, but it seems that the companies I have spoken to have given me high numbers in coverage and price without asking what I would like. Is this just the way works, or should I be asking for choices?

    Sorry if these questions sound stupid, but I am just overwhelmed by this process!

     

  • How much life insurance coverage should a life-long bachelor w/ no children buy?

    I will be 33-years old next month. I have no , no dependents and I do not anticipate ever getting married. How much coverage do I need to pay for my final burial expenses? Please give me a range. I don’t need an exact figure. Thanks.

     

  • My HOA has a blanket insurance policy that has a $10,000 deduct. What other coverage do I need?

    I’m trying to buy supplemental for my townhouse. My association has a blanket policy that cover the structure, however nothing inside the house is covered. Their deductible is ,000. What other do I need and approximately how much personal property coverage would I need for a 3 bedroom/2 bath townhouse?

     

  • i am looking for a medical insurance which doubles as life insurance. any suggestions?

    i am married with 1 child. male, 40 yrs old. don’t smoke, don’t drink. i want to invest in my future and i think is the way. i am looking for an to safeguard my savings intended for my wife and daughter’s future. i don’t want my life savings to be used and depleted to pay for medical expenses should i need medical attention. can anyone suggest a reputable company i may be able to inquire with? by the way, i am self employed.

     

  • are self storage facilities allowed to require you to use their insurance?

    I have and it covers self storage units. However, the storage facility requires me to pay extra to use THEIR . Is that allowed? Other facilities only required me to prove I had some .

     

  • Insurance Adjusters question Homeowners Insurance? Slab Leak causing Foundation to raise? need steps.?

    1) I have researched to find many claims have been paid that cover slab repair when the cause was proven as a result of water damage.
    2) My leak under the slab is the cause of the slab damage, raising it in the center
    3) My question is what steps should I take prior to repair, to make sure the damage is documented & my slab is repaired by my .
    4) The slab leak is on my, I see that, but the damage it caused should be covered.
    5) The cause of the slab damage is the water leak under the slab
    which raised the foundation
    6) As an adjuster, what steps should I take to ensure the damage is insured and covered?

    Thanks

     

  • Whole life vs. term–can you prove higher return with whole life?

    Someone posted a question about whole life vs. term and someone claimed they could prove whole life had equal or better return than buying term and investing the difference in the stock market but the question was closed before the answer was completed. Here’s another chance for the whole-life apologists. My contention is that high fees and commissions on whole life will overwhelm any investment advantage. I also want to see this demonstrated for middle-class people, not multi-millionaires who get huge benefits from tax shelters.

    Assumptions:

    20% marginal income tax rate (15% federal, 5% state)
    Buying insurance at age 30 and stopping/cashing out at 65
    Stock market return is 10% per year and profits are taxed each year at long-term capital gains tax rate.
    Difference in invested at start of each year.
    Reasonable amount of –0,000, or 0,000 or so, not several million.

    Any advertisements or links to scams will be reported for abuse.
    Like I expected, the whole-life apologists are attacking my assumptions. First, that I shouldn’t end the policy at 65. I’m assuming my kids are grown then, and surviving spouse will have Social Security (maybe), a home, and other assets to survive on. If it’s more beneficial to convert the policy to an annuity at 65 and save taxes on my (presumably reduced) income, I will consider that possibility, just give me some facts.

    Someone said dividends are taxed at a higher rate than long-term capital gains, but I think that’s wrong. Regardless, the rates on either are pretty low and I don’t see that as a major factor.

    Someone else said would be a loser if my health failed before 65. If that’s the case then I’ll admit I’m comparing apples and oranges. Is there that doesn’t expire as long as you pay the , or does mean you’ll lose coverage at the first sign that you’re odds of collecting are higher than average?

     

  • Homeowners Insurance coverage?

    1. Does the company need to notify you if there are changes available? IE: 18 months ago when we signed up the lowest deductible for wind/hail damage was 2%. Now it goes as low as 0. After the hail hit our house.

    2. We have 5 cracks across the front of our house due to hail. will cover the entire front. There is one large crack at the rear. They will use undamaged siding from the front to repair the back.

     

  • Which provides better health Insurance coverage? Traditional Medical Coverage or Short-Term Medical Coverage?

    I just transitioned from a student to a worker! In school, my university provided services to me so it was not a big deal. However now I have to look for one myself. My employer says that I can select any type of plan I want and he will pay 50% of it, subject to a 0 per month cap.
    I have never fallen sick, touch wood, and have never used .
    So, for a person who seldomly visits a doctor, which is better. Traditional: $ 70 per month 00 deductible 00 max. annual out of pocket. Roughly 30% Co-Payments an most of the services.
    Short Term: $ 30 per month 0 deductible 00 max. annual out of pocket. Roughly 30% Co-Payments an most of the services.
    Traditional +s: No need to pay in bulk, includes dental, vision and life.
    Short Term +s: Low premium, deductable and Annual OOP.
    Traditional -s: High Premium, deductable, Annual OOP and Co-Payments.
    Short Term -s: Need to buy every 6 months, no dent. no life.

     

  • My father is not in the best health and needs health insurance and life insurance, how can I help with this?

    He is in his late 50s and has not been taking good care of himslef. He has high blood pressure, but does not keep up with his doctor appointments. He lives with my sister and her husband, but they cant make him go.

    He works for a company that does not have medical benefits, or life coverage for their employees. He will not leave this employer.

    What can I do to get him cheap (but good) health , and also life ? He wont pay for his life , and if I want to get it on him, I will have to pay it myself -I can’t afford anything much – but I need to have something on him to cover basic costs if something should happen to him.

     

  • How does an eBay seller get insurance for their product?

    I need full for the products I am selling. I need product, damage control, and postal insurance. Is there an all in one deal anywhere? I know buyers can obtain insurance on some products through ebay, but can sellers too while it’s shipped to the buyer. Can Paypal or eBay cover it?

     

  • What insurance coverage is critical for a business that has little to no customer traffic?

    When a business does most of its work online or in the clients location, what plans apply? Is necessary for the office even if clients rarely come to the office?

     

  • How to get life insurance/income protection insurance with a possible chronic illness?

    I have consulted my GP with as yet undiagnosed symptoms which may be Multiple Sclerosis (just my opinion). A life insurer has deferred my application for six months while the symptoms are checked out. The symptoms aren’t painful and receding. How can I handle this situation to both get treatment and without committing fraud or falling foul of a preexisting condition clause?
    I should add that I am resident in the UK with its National Health Service.

     

  • How much health insurance coverage do I get as a military spouse?

    I am a newly married Air Force wife. I am currently enrolled for TriCare North Standard coverage for . Does anybody out there have TriCare North Standard coverage and know what the whole package is like? I heard that if i go to any military base medical facility, all my would be free. What if I were to have a doctor’s appointment off-base? Also, does this cover dental costs too? I am just trying to fully grasp what me does and does not cover so I can be prepared in the future.

     

  • Who places the amount of personal property insurance coverage on a homeowners policy?

    Is it based on a percentage of the "dwelling" coverage? I have 7,000 on my home and 4,000 on my personal property. It sounds outrageously high to me, when compared to the home itself. I know that I never gave anyone that figure.

     

  • motorcycle insurance?

    i was upset that said they would only give me 12 month coverage for my motorcycle but they allow you to get 6 month coverage for your truck and you drive that year round and a cycle for only 5-6 months out of the year. thats backwards. thats BS! anyways..i thought about paying the full 12 month amount because you save a little money doing it but this time i going to just do the month to month. has anyone ever payed the month to month then when the riding season ends (like here in Wisconsin at the end of October) cancel your policy? i dont like paying for for something when its not in use at all.

     

  • Pit bulls in NJ and homeowners insurance coverage….?

    My brother-in-law has two pit bulls, and we live in NJ. He was recently notified by his home owners that they do not cover them and once his policy runs out they are not renewing…Can anyone that has these dogs and an that covers them please let me know. Thank you.

     
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