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Cathy Hills

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Video — What Does Home Insurance Cover?
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Cathy Hills
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Video — What Costs Does Life Insurance Cover?
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Cathy Hills

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Video — What Does Home Insurance Cover?
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Video — What Costs Does Life Insurance Cover?
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Video — How Do I Make Life Insurance Claims
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Video — How Do I Make Life Insurance Claims

If you've lost a family member who carried life insurance, here are some key steps to follow. One, secure copies of the most recent policy, and two, send either a notarized copy of their death certificate or the original certificate to the insurance company, which you send depends on policy requirements. Track the documents when sending three. Talk to the company about the claim. After reviewing the policy language, your. Note any policy exclusions that apply to your situation. Four. Figure out how you want to set up payouts all at once or in regular smaller payments. Five. Keep personal records of the claim, copies of all related documents and notes, including any related case or claim numbers from phone calls.

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Video — How is Life Insurance Calculated?

How is life insurance calculated? Life insurance rates and coverage are calculated from quantifiable factors about you, such as are you filing singly, just you or jointly with a significant other? What is your age at the time of filing your current health and lifestyle? Also matter. Do you have any chronic or serious illnesses? What kind of lifestyle do you lead? Do you smoke? Does your weight impair your health? Do you participate in potentially life threatening hobbies? In addition, family medical history and your driving record may affect rates naturally, the length of the policy and amount of. Effects cost as well as do the way payments are structured. Do rates increase, decrease, or stay constant over time? It's worth understanding the details as lower premiums can provide major savings over time.

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Video — Fast Facts On Flood Insurance

Don't wait for a hundred year storm to learn about flood insurance. Here are some key facts. One, there's generally a 30 day delay before new flood insurance coverage is in force two. It's not just riverfront homes, one in five flood insurance claims are made from low risk areas. Three. Standard homeowners insurance will not cover floods. Fortunately there are solutions. Flood insurance is quite affordable. The Federal Emergency Management Agency says that annual flood insurance premiums can be as low as $112. You can purchase flood insurance from any insurance company that participates in the National Flood Insurance Program. You can supplement N F I P coverage with private insurance for additional coverage. Not having flood insurance is costly. Damage from that rising water could cost you thousands, even an additional loan on top of an existing mortgage. Visit flood smart.gov and talk to your agent to understand your options.

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Video — Collision Insurance Explained Visually

With collision coverage when your car hits an object like a tree, or another car your insurance company will pay for repairs to YOUR car. If you have a “deductible”, you’ve agreed to pay that much in repairs yourself first. Then your insurance pays up to the limits of your coverage which should equal the value of your car. Collision doesn’t cover: medical bills, theft, or car damage NOT caused by a collision.

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Video — How Will Your Reverse Mortgage Repayment Work?

Reverse mortgage loans are called based on these ‘maturity events’: All borrowers have died All borrowers have sold or conveyed title to the property The property is no longer the borrowers’ principal residence The borrower has failed to pay taxes or insurance, usually repeatedly, or the borrower is unable or has refused to maintain the property. Upon these maturity events, no additional funds may be advanced, and the loan principle, interest and fees are due and payable.

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Video — Can You Get A Reverse Mortgage With An Existing Mortgage?

You may qualify for a reverse mortgage even if you still owe on an existing mortgage on the home. If you take the loan, the reverse mortgage will take ‘first lien’ position, with priority claim on home equity. You may pay off an existing mortgage with the proceeds of a reverse mortgage; generally, all currently outstanding mortgages need to be paid off in full at the time the new reverse mortgage closes. Check the terms of an existing mortgage to understand any conditions related to early payoff.

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Video — How Does A Reverse Mortgage Affect Your Heirs?

Does A Reverse Mortgage Leave Home Value For Heirs Or Estate? When the home is sold or the owner dies, the principal, interest and other finance charges must be paid. All proceeds or equity beyond this belong to the borrower’s estate. Reverse mortgages do NOT encumber heirs or estates with debts. If you are inheriting an estate with a home involved in a reverse mortgage, contact the servicer of the loan with details of your situation to learn about your next steps.

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Video — How Do A Reverse Mortgage And Home Equity Loan Compare?

Reverse mortgages and home equity loans both use equity as collateral. Home equity loans do not have an age requirement; reverse mortgages require the owner be at least 62. HELOCs must be repaid over time - typically 5 or 10 years; Reverse mortgage payback is generally upon sale or borrower death. Rates on the two may be comparable, but borrowers should shop. Reverse mortgage closing costs are generally higher, but typically, these costs can be financed as part of the reverse mortgage loan.

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Cathy Hills
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Biography

Cathy has already established herself as a skilled and creative videographer and animator. With a passion for visual storytelling and a talent for bringing ideas to life, she has worked on a variety of projects for clients in a range of industries. When she's not busy behind the camera or working on animations, Cathy enjoys reading, history and travel.

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