Stated simply, the amount of life insurance needed depends on your income and your financial responsibilities to your dependents. The amount can be determined by considering the amount that would be required for final expenses, mortgage and debts, education costs, family income and taxes and estate costs. In the process, you would consider Social ...
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What kind of health insurance coverage is available?
There are many situations that call for the purchase of individual health insurance coverage. An individual or family may need coverage because they are not covered under a group insurance plan. They may need coverage because they have not met a waiting period to be covered under group insurance. They may need coverage because they are not working ...
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If I pay off my mortgage, refinance or pay off a home equity loan, who do I need to notify?
In the past few years there has been a flurry of refinance activity. Home equity loans and home equity lines of credit are very popular. If you pay off a mortgage or take a new loan, the interest of the financial organization must be added or deleted. The insurance company or agent is often not notified when a loan obligation is satisfied. ...
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What coverage is available under the homeowner’s policy for identity theft?
Identity theft coverage can be added to the homeowner's policy to cover the cost associated with clearing your record. Limits available range from $2,500 to $25,000 at annual costs from $10 to $35. ...
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What discounts or credits apply for protective devices and alarms?
Home policies provide rate credits for smoke alarms, deadbolt locks, fire extinguishers, central station monitored burglar and fire alarms, and sprinkler systems. Make sure your agent or company are giving you the proper credits. ...
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I have a finished basement with a sump pump. Will my policy respond to damage if the sump pump malfunctions or overflows?
Many homeowner's policies exclude water damage for water or waterborne material that backs up through sewers or drains or overflows or is discharged from a sump pump or related equipment. Flood, ground, or surface water are also excluded. A separate endorsement is available to provide coverage for water back-up of sewers and drains and sump pump ...
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Property values and construction costs have increased in the past few years. How do I know if the coverage amount under my homeowner’s policy is adequate?
You should insure your home for full replacement cost of the structure. Construction costs have increased dramatically in this decade. Your home should be evaluated and any improvements you have made should be considered. Some policies provide a dwelling replacement extension of 20-50% above the dwelling limits shown on the policy. You should ...
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What is the mature driver improvement course and how do I qualify?
Pennsylvania law provides a 5% discount for drivers 55 and older who successfully complete a mature driver improvement course approved by PENNDOT. All drivers on the policy who are age 55 or older must have completed the course in order for the reduction to be granted. A certificate is provided by the course provider and must be provided to the ...
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