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Frequently Asked Questions

Dental

Crowns are consider “Major” and you will need to review your policy.  Generally only a portion is covered – usually around 60%.

Typically if you sign-up by the 14th of the month, your coverage will start on the first day of the following month with no waiting period. 

Vision

Typically if you sign-up by the 14th of the month, your coverage will start on the first day of the following month with no waiting period. 

Yes – you will still get the allowable amount and usually they cover 20% of the amount above the allowable.

Life

If anyone depends on you for their financial well-being, then you need life insurance. Even though you don’t have a spouse you may have other individuals you want to take care of. At minimum you may want to purchase enough insurance to cover any debts you have, funeral costs and final expenses.

Money taken from your insurance policy through a loan or withdrawal is generally received income tax-free and should not affect the taxation of your Social Security Benefits.

Annuity

Money taken from an annuity that is considered taxable is taxable as ordinary income and must be considered in determining taxation on your Social Security benefits.

Yes – although you get the same tax-deferred savings under your IRA as you would an annuity, it still makes sense to consider an Annuity for your IRA money.  Annuities can offer a guaranteed interest rate during the accumulation phase.  More importantly, an annuity can provide a guaranteed income for your lifetime.

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