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  • 1. What things can I do to reduce my auto insurance costs? Views: 81
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    Terms of Use: You may not realize it, but the insurance rates you pay for your car can vary dramatically depending on the insurance company, agent or broker you choose, the coverages you request and the kind of car you drive. Listed below are a number of things you can do right now to lower your insurance costs. 1. COMPARISON SHOP . Prices for the same coverage can vary by hundreds of dollars, so it pays to shop around. Ask your friends, check the yellow pages or call your state insurance   More...
  • 2. Is a divorced spouse entitled to COBRA coverage from their former spouses’ group health plan? Views: 67
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    Terms of Use: Under COBRA, participants, covered spouses and dependent children may continue their plan coverage for a limited time when they would otherwise lose coverage due to a particular event, such as divorce (or legal separation). A covered employee’s spouse who would lose coverage due to a divorce may elect continuation coverage under the plan for a maximum of 36 months. A qualified beneficiary must notify the plan administrator of a qualifying event within 60 days after divorce or legal  More...
  • 3. How much disability insurance do I need? Views: 47
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    Terms of Use: You need enough coverage to provide you with sufficient income to live on until you are able to return to work or receive other financial resources (retirement, social security, etc.). The benefits you purchase through a disability policy are quoted as monthly income that you receive if disabled. Consider your monthly income after taxes as the base amount you would need. Also pay attention to the premium amount. If you have other sources of income, that should be considered i  More...
  • 4. Can I get disability benefits from Social Security? Views: 45
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    Terms of Use To qualify for Social Security disability benefits, you must have worked long enough in jobs covered by Social Security (usually 10 years). Then, you must have a medical condition that meets Social Security's definition of disability. People who are severely disabled may be eligible for monthly benefits. Both the Social Security program and the Supplemental Security Income program provide a monthly income for people with severe disabilities. However, the non-medical eligibility   More...
  • 5. When can an insurance company consider my vehicle to be totaled and how is the market value determined? Views: 43
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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...
  • 6. How much auto insurance do I need? Views: 39
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    Terms of Use: Almost every state requires you to buy a minimum amount of liability coverage. Chances are that you will need more liability insurance than the state requires because accidents cost more than the minimum limits defined by each state. If you’re found legally responsible for damages that are more than your insurance covers, you will have to pay the difference out of your own pocket. These costs could literally wipe you out financially! The Insurance Information Institute (I.I.I.) rec  More...
  • 7. Saving money on health care Views: 37
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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 change docto  More...
  • 8. What steps can I take to lower my homeowners insurance? Views: 35
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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...
  • 9. Who is entitled to benefits under COBRA? Views: 34
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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...
  • 10. Does Medicare or Medicaid cover long-term care cost? Views: 34
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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 and n  More...
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