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  • 1. When can an insurance company consider my vehicle to be totaled and how is the market value determined? Views: 37
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    Terms of Use: Your car will be considered to be totaled by the insurance company any time, usually when the costs to repair the vehicle exceeds the costs to replace it. If your vehicle is considered to be totaled, you can expect to receive the vehicle's market value. There are several standard guidelines for determining the market value of your car for insurance purposes. You and your insurer can refer to the Blue Book, which lists the depreciated value of all new and used cars. One Blue Book is  More...
  • 2. Saving money on health care Views: 32
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    Terms of Use It's estimated that each year on average Americans spend roughly $8,000 per person on health care. Without putting your health on the line, it's good to know where you can reduce medical costs: 1. Generic drugs: Always ask whether the prescription drug your doctor recommends is available in a generic form. Generic drugs can cost 15-50 percent less than name brands, saving you and your insurance company money. 2. Avoid unnecessary tests and visits . If you move or cha  More...
  • 3. Where can I buy auto insurance? Views: 24
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    Terms of Use You can buy insurance through an insurance agent that represents one or more companies or directly through the insurance companies that sell policies using their own employees. Buying directly will generally not save you any money. When looking for an insurance agent or company, consult your state insurance department , the yellow pages of your phone book, and most importantly friends and relatives to find out who they have their insurance through and their level of satisfaction. S  More...
  • 4. Does Medicare or Medicaid cover long-term care cost? Views: 22
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    Terms of Use Medicare is a federal program that pays for health care for people over age 65 and for people under age 65 with disabilities. Many people assume Medicare will pay for their long-term care expenses, but in fact, Medicare only covers a small portion of the country's long-term care bill. It covers the cost of some skilled care in approved nursing homes or in your home, but only in certain situations. For example, for nursing facility care Medicare covers on average 20 days a  More...
  • 5. How does Social Security define what is considered to be disabled? Views: 18
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    Terms of Use The definition of disability in the Social Security law is a strict one. To be eligible for benefits, a person must be unable to do any kind of substantial gainful work because of a physical or mental impairment (or a combination of impairments), which is expected either: to last at least 12 months, or to end in death. If, because of a medical condition, a person cannot do the work that they performed in the past, then age, education, and past work experience must be considere  More...
  • 6. What things should I consider when selecting an insurance company? Views: 16
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    Terms of Use About 1,700 companies in the United States sell life insurance. While some consumers prefer to buy policies directly from a company, most people buy life insurance through agents or brokers. Before purchasing a policy, check the company's financial condition. Make sure that the company you buy from is financially stable so you know they will be around to pay any claims. The following companies rate insurance company strength: A.M. Best Company, Inc. Ambest Rd. Oldwick, NJ  More...
  • 7. Who is entitled to benefits under COBRA? Views: 16
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    Terms of Use There are 3 elements to qualifying for COBRA benefits. COBRA establishes specific criteria for plans, qualified beneficiaries, and qualifying events: Plan Coverage Group health plans for employers with 20 or more employees on more than 50 percent of its typical business days in the previous calendar year must provide COBRA continuation coverage. Both full and part-time employees are counted to determine whether a plan is subject to COBRA. Each part-time employee counts as a fracti  More...
  • 8. What should I do if I have a dispute with my insurance provider about what is covered and what is not? Views: 15
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    Terms of Use It is not that unusual to have a dispute with your health insurance provider about what they will cover and what they will not. To work through these situations we have provided the following steps for consideration when resolving these types of issues. What ever tactic you opt to take, it always pays to speak with the insurance company before you incur any costs and get the potential expenses pre-approved. In addition, if you do have a dispute, be prepared to be persistent and do  More...
  • 9. What is long-term care insurance and how is it different from disability insurance? Views: 15
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    Terms of Use Long-term Care Insurance Long-term care insurance is a protection plan that pays you a set amount when you can no longer live independently . It can help pay your nursing home costs, your assisted living costs, even your costs when you are disabled and confined to your home. Whenever you can't perform some of the essential activities of daily living - eating, bathing, getting out of bed, going to the bathroom, walking, dressing yourself, etc. - your long-term care insuranc  More...
  • 10. What steps can I take to lower my homeowners insurance? Views: 15
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    Terms of Use: 1. BE SURE TO SHOP AROUND. It'll take a few phone calls, but they could save you a good sum of money. Ask your friends, check the yellow pages or call your state insurance department. Also check consumer guides, insurance agents and companies. This will give you an idea of price ranges and tell you which companies or agents have the lowest prices. But don't consider price alone. The insurer you select should offer both a fair price and excellent service. Quality service may co  More...
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