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Life Insurance Benefits

The reason why many decide to purchase life insurance is that it often helps them reach their financial goals. In some cases, life insurance can even provide individuals with benefits while they are still alive. Selecting the proper type of life insurance, however, can be challenging. Fortunately, an experienced estate planning attorney can help you obtain the best possible life insurance for your situation. This article will discuss some of the advantages (as well as disadvantages) involved with life insurance in an estate planning context. The Benefits of Life Insurance Life insurance offers some unique benefits, which include the following: After a person’s death, compensation from life insurance policies helps provide survivors with financial security. In comparison to other types of accounts like Roth IRAs, life insurance policies are not as restricted by tax requirements. This means that compensation administered after a person’s death is often tax-free. Another tax advantage provided by life insurance policies is that the value of the benefits grows at a tax-deferred rate while the insured is alive. Life insurance policies also offer the tax advantage that cash withdrawals up to the total of the life insurance policy can be made free of income tax. If [...]

2018-10-17T19:38:22+00:00Tags: , |

Advice if You are Denied Medicaid Benefits

People who are denied Medicaid or have their benefits terminated are frequently left confused and uncertain about how to proceed. Fortunately, there are some measures that a person in this situation can take to preserve his or her rights. This article will review some of the important steps that a person should take after being denied Medicaid. Request an Administrative Hearing A person who receives Medicaid should make sure to request an administrative hearing within 45 days after being denied Medicaid or having Medicaid terminated. To request an administrative hearing, a person must complete an administrative hearing request form (MSC 0443) and submit the document to to the Department of Human Services. Continue Receiving Benefits Request forms allow a person to keep the same Medicaid benefits while waiting for a hearing. This can be done by selecting this option on the hearing request form. It is important to note that a person must request to continue receiving benefits within 10 days of Medicaid being terminated. Many people benefit from this decision because the rate of Medicaid reimbursement is frequently less than the private pay rate. Prepare for the Hearing Before a Medicaid hearing, states are required to review applications and [...]

2018-04-11T18:38:54+00:00Tags: , , |