A life insurance policy is a contract between you and an insurance company. In exchange for regular payments, called insurance premiums, the insurer pays out money after you die. This money goes to the people you choose as life insurance beneficiaries — usually children, a spouse or other family members.

Yes, you can apply for Medicare even if you are still working. Medicare eligibility is based on age or if you have a disability or a certain health condition such as end stage renal disease (ESRD) or Lou Gehrig’s Disease (ALS), not on employment status.

If you are 65 or older, you are eligible for Medicare and can enroll during the Initial Enrollment Period (IEP), which begins three months before the you turn 65, the month you turn 65, and ends three months after you turn 65.

You won’t lose your Original Medicare, Part A and Part B coverage if you move to another state. However, if you have a Medicare Advantage plan or a stand-alone Medicare prescription drug plan, you should tell the plan before you move. Typically these plans won’t cover you in another state.