/ Insurance

Insurance Questions

By Terry Savage

HSA Contributions

Answered on June 20, 2018

I currently purchase individual health insurance with a high deductible (Bronze plan) on the exchange. In the past I have been able to contribute to a health savings account to help cover my deductible. However in 2018 I will not be able to contribute to a HSA because my maximum annual deductible and other out-of-pocket…

Spike in Premiums for Long Term Insurance Policies

Answered on June 19, 2018

Terry, my wife and I purchased long term care insurance policies from Northwestern Mutual in 2009, and our premiums have been the same every month every since until...now. Starting in June, this company will be hiking premiums by a whopping 40% for Illinois residents on the anniversary of a policy purchase. Then, we're told this…

Variable Annuity conversion to Roth?

Answered on April 28, 2018

Hi Terry, I currently have a variable annuity. The sub-account's value is about $670,000. I have about five and a half years before I will turn on the income stream. At that time the step-up value will be $1,000,000. I'm contemplating converting this to a Roth. I'm estimating that the tax hit will be about…


Answered on April 27, 2018

Are fixed annuities good a product?

Long Term Care Insurance

Answered on April 03, 2018

What should I be careful of when looking for long term care insurance. I'm 70 years old.

Medicare supplement too expensive

Answered on March 07, 2018

My dad, age 92, has canceled his Medicare supplement because he says he can’t afford the $500 a month premium. Is there anyone who will do a supplement at his age? Thank you for any help



a personal
finance question