Integrity Financial Solutions Group

Fast Fact: “Minimum and Essential Coverage” is Health coverage that will meet the individual responsibility requirement.

Question: When are gift taxes due and who pays them? Answer: Gift taxes are due on certain transfers of wealth. If and when gift taxes are due, the donor is liable for them. The recipient of the gift is not taxed.

Point of Service (POS) plan is a type of Medicare Advantage HMO plan that allows members the ability to visit doctors and hospitals outside their network for some covered services, usually for a higher copayment or coinsurance.

With Life Insurance the “Death Benefit” is amount of money paid to the beneficiary when the policyholder dies. If loans are taken on these benefits, the payable amount will decrease. The amount of the benefit might also increase if there are more benefits payable when certain conditions are met.

The cost of a Medigap policy depends on which plan letter you choose and then varies by zip code, age, gender, and tobacco use.

Around 65% of adults that don’t have life insurance say they don’t know how to buy a policy or aren’t sure what life insurance is right for them.

Medigap plans and Medicare supplement insurance plans are the same things, just two different terms.

With Life Insurance the beneficiary is the individual who receives proceeds from a life insurance policy at the death of the insured. A beneficiary who is less than 18 years old must be represented by a legal guardian or a public official. Anyone can be named as a beneficiary.

The Medicare Annual Enrollment period has started? It runs from 10/15 through 12/7/2024. Please contact us for a no-cost consultation.

Fast Fact: The “Cash Surrender Value: is the cash amount you would get if you voluntarily terminate coverage before a policy becomes payable by death or maturity. The amount is the cash value stated in the policy, minus a surrender charge, any outstanding loans and interest on those loans. The cash value represents the savings component of a life insurance policy, since you can access the money relatively quickly if you need to.