insurance policy

Iowa woman fakes neighbor’s death for life insurance: feds

Now the 37-year-old Iowa woman has been sentenced to prison, authorities said.

Now the 37-year-old Iowa woman has been sentenced to prison, authorities said.

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A woman secretly added herself to her neighbor’s life insurance policy, then faked the Iowa neighbor’s death so she could steal death benefits, authorities said.

Kimberly Nicole Hollingshed, of Muscatine, fraudulently received about $100,139 from the life insurance company in April 2022, according to a March 9 news release from the U.S. Attorney’s Office for the Southern District of Iowa.

She used that money to buy a 2014 Buick Encore, a 2008 Jeep Liberty and a 2008 Hummer H3, according to Hollingshed’s plea agreement that she signed in November.

Now the 37-year-old woman has been sentenced to 24 months in prison on a count of wire fraud, court records show.

The defense attorney representing Hollingshed did not immediately respond to a request for comment from McClatchy News on March 10.

Federal authorities said Hollingshed accessed the neighbor’s life insurance policy in February 2022, then she added an online profile without her neighbor’s permission.

“With online account access, Hollingshed made changes to the victim’s policy and added herself as a policy beneficiary,” officials said.

Once Hollingshed was listed as a beneficiary, in April, authorities said she told the life insurance company that her neighbor died and started the process to claim her death benefits.

The insurance company required a copy of the woman’s death certificate before processing the claim, according to the plea agreement.

As her neighbor hadn’t actually died, the woman provided a forged Iowa certificate of death, prosecutors said. She started with a real death certificate belonging to a 96-year-old Iowa woman who died in 2017, but changed the name, cause of death, location of death and other details, according to court records.

The insurance company processed the claim, and the money was deposited into

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How going off-grid will affect your insurance

With consumers queueing up to go off-grid, there is one important thing that consumers should consider as well: how it affects your insurance.

With the increase in rolling blackouts, insurance companies are noticing an increase in claims for fire damage and if your equipment is not properly insured, you might have to pay for the damage from your own pocket.

“While we have come to accept the unfortunate reality of power supply interruptions, reports suggest that load shedding stage 2 or 3 could be guaranteed for the next two years. In this scenario, we are in for a bumpy ride,” says Lizo Mnguni, spokesperson for Old Mutual Insure.

He says many people decided to invest in alternative power supplies such as inverters, generators, UPS batteries and even solar power to keep the lights on, and solar has now become even more attractive given government’s recent introduction of a solar panel tax incentive for individuals.

“Many financial institutions offer finance for solar power, which makes it more easily accessible. If policyholders install such a system, we require that they inform us. The sum insured must be adequate, but many policyholders do not insure them at the correct value, which means that if they experience a loss, they would not be able to replace it with a new one because the insurer will pay out a lower amount.”

Mnguni says you must insure a movable power solution under the contents section of a policy and fixed or non-movable solutions, such as a UPS, under the building policy.

ALSO READ: Installing solar panels or generator? Beware of these expensive mistakes

Increase in fire claims

“We notice a trend of an increase in fire claims, likely from either heat emanating from the system, or incorrect installations. While the policyholder is entitled to use an

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The Most Confusing Car Insurance Terms Every Driver Should Learn

Photo:  Sawat Banyenngam (Shutterstock)

Photo: Sawat Banyenngam (Shutterstock)

When it comes to navigating new insurance policies, it’s easy to get lost in all the jargon that gets thrown your way. However, you should understand all the confusing terms in order to make the best decisions to protect your car and yourself. Whether you’re in the market for a new car or you need to navigate the insurance you already have, here are some of the top terms you need to know.

Top car insurance terms you should know

These are some of the most common car insurance terms to get a firmer grasp on, arranged in alphabetical order.

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An additional coverage to your insurance policy where your rate won’t go up as a result of your first at-fault accident. You may qualify for this additional coverage if you have five years of accident-free driving.

The amount it costs to replace damaged or stolen property, minus depreciation. You might also see it defined technically as “replacement cost less depreciation.” ACV doesn’t replace your property, but reimburses you for the item’s value at the time of loss.

A change to the basic policy contract. An amendment alters the policy, not to be confused with an endorsement, which adds to it.

A device that deters auto theft. This is useful to know because these devices may entitle you to a discount on your insurance premiums.

If an insurer considers you too high-risk (aka, high-cost) to cover, you must get coverage through a state-assigned risk plan. Unfortunately, these plans cost more than regular car insurance.

Someone who has an insurance policy. Means the same as an insured or policyholder.

A temporary agreement that a policy is in effect; this is used to protect the policyholder when it is not possible to issue or endorse the policy

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Non Owner Car Insurance Guide

Non-owner car insurance is for people who regularly drive cars they don’t own. This includes borrowing someone else’s car, driving rental cars and taking part in car-sharing services. If you have a valid driver’s license and don’t own a vehicle, non-owner car insurance may be a valuable policy to have.

What does a non-owner car insurance policy cover?

A non-owner car insurance policy covers the minimum requirements in your state. In New Jersey, that means liability insurance, personal injury protection (PIP) and uninsured motorist coverage.

Although you can buy more coverage, the minimum car insurance requirements for each coverage in New Jersey are:

  • Bodily injury liability insurance: $25,000 per person, $50,000 per accident.
  • Property damage liability insurance: $25,000 per accident.
  • PIP: $15,000 per person, per accident.
  • Uninsured motorist: Matches bodily injury and property damage liability limits.

There is no option for comprehensive or collision coverage under a named non-owner car insurance policy. These coverages will pay for damage to an owned vehicle listed on the policy. Since non-owner car insurance doesn’t cover a named vehicle, there is no physical damage coverage.

Who needs non-owner car insurance?

There are some situations when someone who doesn’t own their own car needs non-owner car insurance.

Keeping continuous coverage

When you go without car insurance — even if it’s because you temporarily don’t own a car — the gap in insurance can cause your rates to be higher when you get another vehicle. Buying a non-owner policy might help keep your car insurance rates low if you only plan to be without a car temporarily.

You regularly rent cars

Whether you’re renting from Hertz or Enterprise or using a service like Turo or Zipcar, it could be a good idea to get non-owner car insurance. Car-sharing and rental companies often

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Hundreds of thousands may lose Medicaid health insurance as rules change for renewal

HARRISBURG, Pa. (KDKA) – Over 3 million Pennsylvanians on Medicaid will have to reapply for continued coverage beginning April 1.

During the pandemic, those on Medicaid, state-provided health insurance for lower-income Pennsylvanians, did not have to reapply each year to determine their eligibility, but the federal government is ending that.

“Beginning April 1, when your annual renewal is up for your Medicaid insurance, you’ll be sent information to share information with us to see if you’re still eligible to receive Medicaid, and if you are, no problem, you’ll be continued,” said Department of Human Services Acting Secretary Val Arkoosh.

Arkoosh believes hundreds of thousands of Pennsylvanians could lose their health insurance.

“Probably around 620,000 may be making too much money now to qualify for Medicaid,” Arkoosh said.

Arkoosh hopes many of those now have jobs with employer-provided insurance, but, if not, she encourages people to contact Pennie, the state’s health insurance marketplace under the Affordable Care Act.

“We will hand them off to Pennie where people can get very good, very high quality plans at a very low cost in the Pennsylvania marketplace,” Arkoosh said.

Even if the parents are no longer eligible for Medicaid, their children might still qualify under CHIP, the Children’s Health Insurance Program.

“Every child in the commonwealth, no matter what their parent makes, is eligible to get a health insurance policy through the CHIP program. What differs is how much they’ll pay for that health insurance policy,” Arkoosh said.

Arkoosh says the income eligibility for Medicaid has not changed. If you’re single and earn less than $20,120, you’re still eligible. For a family of four, if your income is below $41,400, you’re eligible for this free medical insurance, but you must submit your renewal forms when received.

If you don’t respond or ignore the deadlines,

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How seniors can find the best no-exam life insurance

No-exam life insurance can provide coverage to seniors who might not otherwise qualify. 

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If you’re a senior, it’s not too late to get life insurance. Life insurance has many benefits for older adults, including covering end-of-life expenses, providing an inheritance for loved ones and giving you access to cash you can tap into while you’re alive (if you get a whole life policy).

No-exam life insurance is often best for seniors because they tend to have more health issues than younger people. Policies requiring a medical exam account for everything from your vital signs to pre-existing conditions (like heart problems or diabetes) when determining how risky you are to insure. The riskier you’re considered, the higher your premiums will be and the more likely you are to be denied a policy altogether.

No-exam life insurance is generally more expensive than other policies, but it essentially guarantees you’ll be covered. As an added perk, the approval process is simpler and faster because there are fewer steps. You might even be approved the same day you apply.

Start your search for a life insurance policy by getting a free price quote now or using the map below.

How seniors can find the best no-exam life insurance

To find the best no-exam policy for your needs, take the following steps:

1. Identify your goals

Pinpointing why you’re getting life insurance can help you zero in on the best policy. Your reasons might include:

  • Paying off outstanding debt, like a mortgage
  • Covering the cost of your funeral
  • Leaving an inheritance for your children and grandchildren

Identify what you want life insurance for so you know what type of policy to choose and how much coverage you’ll need. The more accurate your estimate, the likelier you are to ask only for the

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Is Life Insurance Taxable? Here’s Everything To Know.

As people grow older, life insurance is a topic that becomes more and more important, especially for people who have children or dependents. Life insurance is a method for helping the security of others once someone dies.

Some fast facts about life insurance includes:

  • Approximately 172 million Americans own life insurance.
  • 34% of Americans ages 18 to 24 report they own a life insurance policy.
  • 46% of Americans ages 25 to 44 have a life insurance policy.
  • 53% of Americans ages 45 to 64 have a life insurance policy.
  • 57% of Americans ages 65 and older have a life insurance policy.

With so many people holding life insurance policies, you might wonder: Is life insurance taxable? Read on to find out.

What is life insurance?

Life insurance is a contract between a policyholder and an insurance company through which the policy owner agrees to pay a designated beneficiary a sum of money in exchange for a life insurance premium upon the insured’s death.

Life insurance is an insurance product meant to provide financial security to that beneficiary after the policyholder passes away to help cover expenses such as funeral costs, outstanding debts and other living expenses. The amount of life insurance a person needs will depend on several factors, including income, debt and dependents.

Related: Busy Parents: Sign up for Life Insurance with This Speedy Provider

What makes a strong life insurance policy?

Several factors contribute to a strong life insurance policy, including:

  • Coverage amount: The policyholder should choose an adequate amount for their loved ones’ financial needs. When deciding upon coverage, the policyholder should consider the cost of living, funeral costs, outstanding debts and future expenses like college tuition.
  • Policy type: A policy should always meet the insured person’s needs. For example, if they want affordable coverage for a
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Here’s where you can get the cheapest car insurance in Utah

Sponsored: Which companies offer the cheapest car insurance?

(Adobe Stock) Which Companies Offer the Cheapest Car Insurance?

No matter where you are in life, it’s never a bad idea to cut expenses where you can, and that includes auto insurance. If you’re looking to cut your Utah car insurance premiums a little — or if you’ve just moved there and plan to change your policy — there are some key things to look for when it comes to finding the best cheap car insurance in Utah.

Which Companies Offer the Cheapest Car Insurance?

If you’re shopping around for a better car insurance premium in Utah, there’s some good news right out of the gate — the average motorist pays $1,386 per year for their car insurance — which is 9% less than the national averageas calculated by Ross Martin at The Zebra.

There’s even better news: depending on the company and coverage you decide to go with, your rates could be much cheaper than that. The Zebra has data on this as well: the cheapest company to buy car insurance from in Utah is Nationwide, at an average of $90 a month (or $1080 a year). GEICO came in second at $94 a month, and Progressive third at $104 a month.

Of course, which insurance company you choose isn’t the only factor that determines your premiums. Some companies rate better than others when it comes to having full coverage (liability and collision). While the three companies listed above still rank as the cheapest for ful coverage in Utah, other companies have low rates, too — State Farm comes in at $115 a month, while USAA clocks in at $112.

The not-so-good news is that these rates

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Experts Suggest Buying Multiple Life Insurance Policies

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Terms apply to offers listed on this page.

  • Not only can you have multiple life insurance policies, but you can purchase multiple at once.
  • Buying 20-year coverage and 30-year coverage at the same time can help as your savings grow.
  • Adding a 20-year policy whenever you have a child means it will last until they’re an adult.

While many believe each person can only have one life insurance policy (and one death benefit) in place, this common misconception couldn’t be further from the truth. Not only can you have multiple life insurance policies on yourself or your spouse or partner, but insurance agents maintain there are instances when you should have more than one policy.

This means you can keep whatever life insurance you have and still buy more coverage if you feel you need it. Heck, you can even purchase multiple life insurance policies at once. I talked to some life insurance experts to find out when it makes sense for individuals to have several life insurance policies.

See Insider’s picks for the best life insurance companies »

Buying life insurance to supplement workplace coverage

Steve Sanders, who serves as the senior vice president of life distribution at F&G, says that workplace life insurance coverage can be a great benefit to employees. However, it shouldn’t necessarily be the only coverage workers have in place.

For starters, Sanders says the total death benefit of workplace coverage tends to be limited

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