Health Care

A Living Benefit in a life insurance policy is a rider in which it provides the insured with an early payment in the event that a terminal illness or injury occurs. The payment is generally a portion of the policy's face amount. A Living Benefit can also be referred to as an "Accelerated Death Benefit".

The insurance company underwriter is the insurance company guaranteeing to pay for the losses insured against, as it is outlined in the insurance policy.
Also an underwriter is the person who assesses and classifies the potential degree of risk that a proposed insured represents to determine whether a person is a super preferred risk, preferred risk, standard risk or substandard risk.

Homeowners coverage helps limit your financial losses if your house or its contents are damaged, destroyed, or stolen, for a budgetable yearly premium. If you are adequately insured, homeowners insurance shifts the bulk of the liability exposure to the insurance company. Depending on your policy, if your possessions are lost or damaged by fire, theft, vandalism, storm or another covered disaster, your homeowners insurance can help replace, rebuild or repair the asset. It can also pay damages if someone is hurt while on your property. Generally, flood damage is not covered under homeowners policies and must be purchased separately as a seperate rider.

In many states, it is illegal to drive a car without proof of insurance. Car Insurance accident statistics show over 12 million cars are involved in accidents. If you are at fault in an accident in which someone is injured, either a passenger in your car, a pedestrian, or an occupant in another car, your potential liability can be financially devastating.

A Revocable Beneficiary is a beneficiary named within a life insurance policy in which the owner reserves the right to revoke or change the beneficiary designation.

A Variable Annuity is an investment contract issued by a life insurance company designed to offer continuous income through participation in a mutual fund portfolio. The life insurance aspect of the contract provides tax benefits as well as a death benefit as an additional benefit.

No. You are not taxes on the amount of the insurance premiums for health, accidents or hospitalization paid by your employer for you your spouse or your dependents.

No. The medical insurance payments that your husband's former employer is paying for you as a surviving spouse is not taxable to you. It is considered as atreatment as a continuation of your husband's tax free fringe benefit package.

Continuing coverage rules apply to small employers who in the previous calendar year had more than 20 employees on a typical day.
If your former employer had more than 20 employees on a typical day then your former employer cannot deny you COBRA coverage because your wife has a group health plan.
COBRA is continuing coverage for health plans that is offered a employee upon his or her leaving a company.
Usually the COBRA coverage can last up to 18 months. Generally, The cost of the COBRA coverage will be paid by the employee.