Most people are generally covered under the group health plans provided by their own employer or by the spouse’s employer. Whichever way, coverage provided under the group insurance programs not only serves to control the medical expenses of employees, but also provides them with the security and peace of mind, which goes a long way in ensuring their loyalty towards the company.
Group plans can be broadly classified under small employer plans and large employer group plans. Texas government has made some provisions for the small employer group plans in that they do have to have to cover state mandated benefits that are to be covered by the large employer companies.
It is also important to point out that it is not mandatory for the employers to provide group health coverage. Also, the companies are not required to pay the premiums on behalf of their employees.
Small Employers Group Plans: To benefit from the small employers plans, the company should have between two to fifty employees. Another thing is that they should be full time employees putting in at least 30 hours of work every week. Part time or contractual employees are not eligible under this plan.
Large Employers Group Plans: To benefit from these plans, the company should have more than fifty employees. Also, another precondition is that the company should not be self funded or funded through organizations such as the churches, trade unions or any other professional organizations.
Being covered under the group plan makes sense because of the large number of employees involved. This is beneficial in the sense that the insurance company can give more coverage at reduced costs. Also, you can choose your priorities in your own group plan and another set of priorities in the plan of your spouse if he or she is also being covered through group plans that cover spouses also.
Monday, July 12, 2010
Standard Life Insurance Company – What Is Standard Life Insurance?
Standard life insurance is the title given to most life insurance policies that are issued with standard rates. Health status along with credit are two factors that determine whether an insured is a standard risk or a sub-standard risk for life insurance. Some life insurance companies will issue policies on people with health problems but will give them a higher table rate than the standard rate. There are companies that exist just for the purpose of insuring the non-standard risk. The premiums are much higher because of the risk.
The majority of the life insurance companies are standard life insurance companies that use the table rating method for adverse risks. When you apply for life insurance your application is sent to an underwriter. The underwriter examines all of the details on the application. It is the underwriter’s job to determine the risk factor and table rate for each applicant. There are several resources available to underwriters about your medical history. One such resource is called the medical insurance bureau. This is an organization that provides medical information to life insurance companies. The MIB will not always have your medical details but the bureau will be able to provide dates and times along with the nature of an illness and injury. Disclosing accurate medical history on you application is critical. Do not omit health history because that is a red flag to an underwriter and may cause your application to be rejected.
It is best to purchase as much life insurance as possible at the youngest possible age. The rates are low and most of the time you will receive standard life insurance rates. Most of the companies online offer standard life insurance rates. Some companies have preferred rates that are even lower than the standard. Standard Life Insurance Companies are common. Most companies will take a trial application on special risk applicants. This is an excellent way to see if you qualify for standard life insurance. You are not obligated to put any money down on a trail application until you are accepted by the insurance company.
The majority of the life insurance companies are standard life insurance companies that use the table rating method for adverse risks. When you apply for life insurance your application is sent to an underwriter. The underwriter examines all of the details on the application. It is the underwriter’s job to determine the risk factor and table rate for each applicant. There are several resources available to underwriters about your medical history. One such resource is called the medical insurance bureau. This is an organization that provides medical information to life insurance companies. The MIB will not always have your medical details but the bureau will be able to provide dates and times along with the nature of an illness and injury. Disclosing accurate medical history on you application is critical. Do not omit health history because that is a red flag to an underwriter and may cause your application to be rejected.
It is best to purchase as much life insurance as possible at the youngest possible age. The rates are low and most of the time you will receive standard life insurance rates. Most of the companies online offer standard life insurance rates. Some companies have preferred rates that are even lower than the standard. Standard Life Insurance Companies are common. Most companies will take a trial application on special risk applicants. This is an excellent way to see if you qualify for standard life insurance. You are not obligated to put any money down on a trail application until you are accepted by the insurance company.
Shopping Online For Car Insurance
Right now there are many companies all trying to get you to buy their particular insurance plan for your car. From quacking ducks to talking lizards, there is an overabundance of advertisements, all done with the intent to get you sign up for their company.
But which one is right for you?
One of the better solutions that I found is to go online and compare the different automotive insurance policies. That way, it is easy to find one that fits your particular situation. In addition, I have found that utilizing the Internet is the best way to save money.
Before you go out and buy from the first company that offers you a car insurance policy, it is important that you understand which items are important for protecting you and your assets.
As you probably know most insurance policies look the same. So it is important to understand both the company and your unique situation.
First you should decide the maximum amount that you can use to pay for your insurance. This step means a careful analysis of your budget. It is a question of how much you can afford.
This leads to our second item for consideration. How much do you need to cover? For people that have a lot of assets, it is vital that they get enough insurance to personally protect their money in case of a catastrophic accident.
Many penny pinchers elect to get the lowest coverage. While it important to save money, it is equally important to prevent one accident from wiping you out. The funny thing is that even if you do elect for lower coverage, you wind up not saving that much money.
The next step is to check out the individual car insurance companies. As a result, it is vital that you get quotes from at least five different auto insurance companies. The method that I use is to go online and compare some of the top companies that show up. Here is a brief list of companies that offer top-rated car insurance:
• 21st Century Insurance
• Geico
• USAA
• Safeco Insurance
• MetLife Auto
• Liberty Mutual
• AllState
• Unitrin Direct
• eSurance
• Progressive
• State Farm
• AIG Auto Insurance
• GMAC Insurance
• Nationwide
• Eastwood
• Amica
• AAA
Once you find quotes from different companies, you should create a strategy of the various costs involved with purchasing car insurance. This includes deductibles, collision, comprehensive, and the total costs. For each company, try to get quotes on different levels of coverage. That way, you can develop an accurate portrayal of the price for each car insurance quote.
The final step is to understand how much each company will cover. While you might save money from one particular company, they might offer little to no coverage in case you get into an accident. While you might save some cash in the short term, the long term consequences could be disastrous.
When you have done your analysis, you will have a list of companies that offer quality insurance at an affordable price. With a little effort and research, you can properly cover yourself within your budget requirements.
But which one is right for you?
One of the better solutions that I found is to go online and compare the different automotive insurance policies. That way, it is easy to find one that fits your particular situation. In addition, I have found that utilizing the Internet is the best way to save money.
Before you go out and buy from the first company that offers you a car insurance policy, it is important that you understand which items are important for protecting you and your assets.
As you probably know most insurance policies look the same. So it is important to understand both the company and your unique situation.
First you should decide the maximum amount that you can use to pay for your insurance. This step means a careful analysis of your budget. It is a question of how much you can afford.
This leads to our second item for consideration. How much do you need to cover? For people that have a lot of assets, it is vital that they get enough insurance to personally protect their money in case of a catastrophic accident.
Many penny pinchers elect to get the lowest coverage. While it important to save money, it is equally important to prevent one accident from wiping you out. The funny thing is that even if you do elect for lower coverage, you wind up not saving that much money.
The next step is to check out the individual car insurance companies. As a result, it is vital that you get quotes from at least five different auto insurance companies. The method that I use is to go online and compare some of the top companies that show up. Here is a brief list of companies that offer top-rated car insurance:
• 21st Century Insurance
• Geico
• USAA
• Safeco Insurance
• MetLife Auto
• Liberty Mutual
• AllState
• Unitrin Direct
• eSurance
• Progressive
• State Farm
• AIG Auto Insurance
• GMAC Insurance
• Nationwide
• Eastwood
• Amica
• AAA
Once you find quotes from different companies, you should create a strategy of the various costs involved with purchasing car insurance. This includes deductibles, collision, comprehensive, and the total costs. For each company, try to get quotes on different levels of coverage. That way, you can develop an accurate portrayal of the price for each car insurance quote.
The final step is to understand how much each company will cover. While you might save money from one particular company, they might offer little to no coverage in case you get into an accident. While you might save some cash in the short term, the long term consequences could be disastrous.
When you have done your analysis, you will have a list of companies that offer quality insurance at an affordable price. With a little effort and research, you can properly cover yourself within your budget requirements.
Term Life Insurance - Most Times It's All You Need
Term life insurance is a temporary life insurance covering specific period of time. In this type of policy the insured or the owner pays a premium for a period. The insurance company provides monetary benefit to the beneficiary in case of death of the insured during that period. It is the cheapest type of life insurance available to the general public. Usually the benefit received on death of the insured is income tax free.
There are four parties in term life insurance. The owner is the one who pays the premium. The Insured is the one on whose death, a death benefit(face value) will go to the beneficiary. The beneficiary is one who will receive the proceeds of insurance on death of the insured. The insurer is the company providing the insurance. Premium is the monthly or periodic payment made by the owner to the insurance company.
For instance, Amanda pays monthly 50 dollars to ABC Company for insuring the life of Bill (her husband) for a period of 10 years. In case Bill dies during the 10 years, ABC company will pay 6000$ to Jack (son of Bill and Amanda). Here the insured is Bill, the owner of the policy is Amanda, the beneficiary is Jack and the insurer is ABC Company. The premium is 50$ and the face value of the insurance is 6000$. In case Bill does not die during the 10 years, ABC Company will not be liable to pay any money to any of the parties involved. Often the owner and the insured are same. That is a person buys a policy to cover his own death and nominates a beneficiary.
Term life insurance is a legal contract with terms and conditions and assumed risks. Sometimes there are special provisions like suicide terms wherein on suicide of the insured there is no benefit accrued to the beneficiary. Term life insurance is based on two concepts, theory of diminishing responsibility and Buy Term and Invest the Difference (BTID). In Term life insurance the responsibility or liability of the insuring company reduces as the policy reaches its maturity. Term life insurance is the cheapest type of insurance policy available because there is no cash value at the end of the period. Studies have shown that the mortality rate in term life insurance policies is as low as 1%. Hence the concept of BTID. Rather than going for permanent life insurance (where on the expiry of period the owner will accrue some cash benefit and there is a savings component in it) it is considered cheaper to buy term life insurance and take care of the savings components by investing in other areas. With the present market giving good returns on investment, buying a term life insurance is a more attractive option than permanent life insurance. Term life insurance is available for a period of 5, 10, 20 years etc. As the age of the insured increases the premium increases. The premium is calculated based on mortality rate which is usually dependent on age, sex and whether the person uses tobacco. Most companies provide annual renewable term where in the term can renewed annually however the premium increases annually.
There are four parties in term life insurance. The owner is the one who pays the premium. The Insured is the one on whose death, a death benefit(face value) will go to the beneficiary. The beneficiary is one who will receive the proceeds of insurance on death of the insured. The insurer is the company providing the insurance. Premium is the monthly or periodic payment made by the owner to the insurance company.
For instance, Amanda pays monthly 50 dollars to ABC Company for insuring the life of Bill (her husband) for a period of 10 years. In case Bill dies during the 10 years, ABC company will pay 6000$ to Jack (son of Bill and Amanda). Here the insured is Bill, the owner of the policy is Amanda, the beneficiary is Jack and the insurer is ABC Company. The premium is 50$ and the face value of the insurance is 6000$. In case Bill does not die during the 10 years, ABC Company will not be liable to pay any money to any of the parties involved. Often the owner and the insured are same. That is a person buys a policy to cover his own death and nominates a beneficiary.
Term life insurance is a legal contract with terms and conditions and assumed risks. Sometimes there are special provisions like suicide terms wherein on suicide of the insured there is no benefit accrued to the beneficiary. Term life insurance is based on two concepts, theory of diminishing responsibility and Buy Term and Invest the Difference (BTID). In Term life insurance the responsibility or liability of the insuring company reduces as the policy reaches its maturity. Term life insurance is the cheapest type of insurance policy available because there is no cash value at the end of the period. Studies have shown that the mortality rate in term life insurance policies is as low as 1%. Hence the concept of BTID. Rather than going for permanent life insurance (where on the expiry of period the owner will accrue some cash benefit and there is a savings component in it) it is considered cheaper to buy term life insurance and take care of the savings components by investing in other areas. With the present market giving good returns on investment, buying a term life insurance is a more attractive option than permanent life insurance. Term life insurance is available for a period of 5, 10, 20 years etc. As the age of the insured increases the premium increases. The premium is calculated based on mortality rate which is usually dependent on age, sex and whether the person uses tobacco. Most companies provide annual renewable term where in the term can renewed annually however the premium increases annually.
Tips On Homeowners Insurance Simplified
If you are a human being that lives somewhere, you probably should have some sort of homeowners insurance coverage. Regardless of whether you rent an apartment unit, condominium, own a house, acreage or even a town house, not being sufficiently covered can lead to great financial loss difficult to recover from. You home is the greatest financial investment you will ever make, not to mention all the money you spend on furnishings and items contributing to the liveability of your home.
Every adult needs some form of homeowners insurance coverage. It's never a bad idea to get a free online homeowner insurance quote or two. This will enable you to compare rates and coverages to tailor a policy that is suitable for you and your contentment.
If you are not sure what homeowners insurance coverage is, it is a policy you get in exchange for an annual premium that provides protection for your dwelling, personal property and any lawsuits that you are held responsible for. Habitually there are 4 underlying or basic types of homeowners insurance coverage.
Types Of Homeowners coverage In Reference To Insurance ;
1) Dwelling Coverage : Provides payment for needed repairs or cost of replacement for your home, as well as to detached units and structures on your property, due to damages caused by fire, water, lightning strikes and other disasters. Examples of detached structures predominantly include tool sheds, barn and garages. Usually excludes damage caused by earthquakes and selected natural disasters.
2) Basic Liability : Provides protection to you against lawsuits resulting from accidents occurring on your property you may be held responsible for. Damage to others or their property inflicted by your dog or children. Also covers you for damage, injuries or bodily harm to others caused by you on or off your property.
3) Personal Property : Provides protection for the contents of your home, such as furnishings, clothing, sports equipment, electronics, appliances and other personal belongings. Collectors items such as artwork and jewellry customarily are not included and require a seperate policy if you wish to have them insured.
4) Living Expenses : This type of homeowners insurance coverage provides payment of expenses incurred in case of temporary relocation due to repairs being done to your home, such as motels.
The above mentioned are just basic descriptions of what may be covered by a policy, a homeowner insurance quote will provide you with further detailed information regarding protection.
The premiums will vary in rate from person to person, and will depend on certain situations. Free homeowners insurance quotes will also touch on this subject. There is much to cover, but it is important for you to understand what your home owners insurance policy includes.
Some Factors Considered to Determine A Premium ;
- Crime rate in the area you reside
- How old your home is
- Square footage
- Distance to nearest fire hydrant
- Type of home and how may levels
- Do you own a dog, and what kind
- Property value
- Does your municipality or community have its own fire dept.
- Type of heating system
- Type of locks on doors and windows, alarm system and security devices
- Is the area you live in at risk of natural disasters
- Previous claims
- Condition of plumbing, roof and electrical
- Replacement costs
and more. Before taking any action, it would be wise to consult a professional regarding any coverage premium and how it is determined.
Like with any other type of protection, there is usually a deductible to be paid whenever making a claim, and in regards to this, homeowners insurance coverage does not exclude itself. Ordinarily, the higher the deductible you choose to go with, the lower your premium will be.
Every adult needs some form of homeowners insurance coverage. It's never a bad idea to get a free online homeowner insurance quote or two. This will enable you to compare rates and coverages to tailor a policy that is suitable for you and your contentment.
If you are not sure what homeowners insurance coverage is, it is a policy you get in exchange for an annual premium that provides protection for your dwelling, personal property and any lawsuits that you are held responsible for. Habitually there are 4 underlying or basic types of homeowners insurance coverage.
Types Of Homeowners coverage In Reference To Insurance ;
1) Dwelling Coverage : Provides payment for needed repairs or cost of replacement for your home, as well as to detached units and structures on your property, due to damages caused by fire, water, lightning strikes and other disasters. Examples of detached structures predominantly include tool sheds, barn and garages. Usually excludes damage caused by earthquakes and selected natural disasters.
2) Basic Liability : Provides protection to you against lawsuits resulting from accidents occurring on your property you may be held responsible for. Damage to others or their property inflicted by your dog or children. Also covers you for damage, injuries or bodily harm to others caused by you on or off your property.
3) Personal Property : Provides protection for the contents of your home, such as furnishings, clothing, sports equipment, electronics, appliances and other personal belongings. Collectors items such as artwork and jewellry customarily are not included and require a seperate policy if you wish to have them insured.
4) Living Expenses : This type of homeowners insurance coverage provides payment of expenses incurred in case of temporary relocation due to repairs being done to your home, such as motels.
The above mentioned are just basic descriptions of what may be covered by a policy, a homeowner insurance quote will provide you with further detailed information regarding protection.
The premiums will vary in rate from person to person, and will depend on certain situations. Free homeowners insurance quotes will also touch on this subject. There is much to cover, but it is important for you to understand what your home owners insurance policy includes.
Some Factors Considered to Determine A Premium ;
- Crime rate in the area you reside
- How old your home is
- Square footage
- Distance to nearest fire hydrant
- Type of home and how may levels
- Do you own a dog, and what kind
- Property value
- Does your municipality or community have its own fire dept.
- Type of heating system
- Type of locks on doors and windows, alarm system and security devices
- Is the area you live in at risk of natural disasters
- Previous claims
- Condition of plumbing, roof and electrical
- Replacement costs
and more. Before taking any action, it would be wise to consult a professional regarding any coverage premium and how it is determined.
Like with any other type of protection, there is usually a deductible to be paid whenever making a claim, and in regards to this, homeowners insurance coverage does not exclude itself. Ordinarily, the higher the deductible you choose to go with, the lower your premium will be.
Top 5 Jobs Which Require Life Insurance
Life insurance is an important aspect of everyone’s lives and is something which everyone will have to face at some point in time throughout their lives. This point may come sooner rather than later for some individuals because of the job they perform on a daily basis.
While some individuals start everyday by putting on their suits and racing to get to the coffee shop for their morning coffee, others are strapping on their work boots and preparing themselves for a day of excruciatingly hard labor. As scary as it may sound, there are many individuals who are willing to put their lives in danger every single day when they get up and go to work.
The following is a list of the top 5 jobs which are considered to be the most dangerous jobs in the world. Individuals who perform these jobs are highly recommended to have a life insurance plan incase (god forbid) anything goes wrong on any given day. These are the 5 occupations which made the list:
1. Police/Detectives – Police Officers face life threatening situations almost everyday. They are highly trained to defend themselves and are equipped with protective equipment at all times. Life insurance and disability insurance are crucial for individuals working in the field of policing.
2. Airplane Pilots – Believe it or not, airplane pilots require life insurance because they are dealing with such powerful machines which have been known to have mechanical glitches. Airplane pilots are also highly trained in their field to make sure they do their best to fly safely.
3. Construction Workers – Construction workers are somewhat unappreciated for the amount of hard work they do everyday. They not only put their lives in danger from all the machinery they are expected to operate, but they also face many factors which will affect their health in the long run. Overexposure to sun, heat and excessive lifting are just a few of these factors.
4. Farm Workers – Much like construction workers, farm workers are at high risk of injury or death due to the fact that they are constantly operating heavy machinery. There are hundreds of farm work related deaths a years and thousands of injuries for individuals working in farm fields. Life insurance and disability insurance are important for individuals in this occupation.
5. Fire Fighters – It is a known fact that fire fighters put their lives on the line everyday to save the lives of others. Knowing the potential consequences and performing the job anyways indicates that these workers deserve the highest level of respect from others. Individuals who have chosen careers in firefighting are also likely to have a life insurance policy.
Is your job dangerous? Is your life on the line everyday? Maybe not, but there are many other factors other than your occupation which may indicate you need life insurance. Life insurance is a plan which will ensure your loved ones are taken care of incase anything happens to you. Wouldn’t you like to know your family would be looked after should this type of situation occur?
While some individuals start everyday by putting on their suits and racing to get to the coffee shop for their morning coffee, others are strapping on their work boots and preparing themselves for a day of excruciatingly hard labor. As scary as it may sound, there are many individuals who are willing to put their lives in danger every single day when they get up and go to work.
The following is a list of the top 5 jobs which are considered to be the most dangerous jobs in the world. Individuals who perform these jobs are highly recommended to have a life insurance plan incase (god forbid) anything goes wrong on any given day. These are the 5 occupations which made the list:
1. Police/Detectives – Police Officers face life threatening situations almost everyday. They are highly trained to defend themselves and are equipped with protective equipment at all times. Life insurance and disability insurance are crucial for individuals working in the field of policing.
2. Airplane Pilots – Believe it or not, airplane pilots require life insurance because they are dealing with such powerful machines which have been known to have mechanical glitches. Airplane pilots are also highly trained in their field to make sure they do their best to fly safely.
3. Construction Workers – Construction workers are somewhat unappreciated for the amount of hard work they do everyday. They not only put their lives in danger from all the machinery they are expected to operate, but they also face many factors which will affect their health in the long run. Overexposure to sun, heat and excessive lifting are just a few of these factors.
4. Farm Workers – Much like construction workers, farm workers are at high risk of injury or death due to the fact that they are constantly operating heavy machinery. There are hundreds of farm work related deaths a years and thousands of injuries for individuals working in farm fields. Life insurance and disability insurance are important for individuals in this occupation.
5. Fire Fighters – It is a known fact that fire fighters put their lives on the line everyday to save the lives of others. Knowing the potential consequences and performing the job anyways indicates that these workers deserve the highest level of respect from others. Individuals who have chosen careers in firefighting are also likely to have a life insurance policy.
Is your job dangerous? Is your life on the line everyday? Maybe not, but there are many other factors other than your occupation which may indicate you need life insurance. Life insurance is a plan which will ensure your loved ones are taken care of incase anything happens to you. Wouldn’t you like to know your family would be looked after should this type of situation occur?
Top 10 tips to save money on your car insurance
If you’re fed up paying too much for your car insurance duck2water (www.duck2watercarinsurance.co.uk) have put together the top ten ways you can reduce your premium without reducing the level of cover:
1.Buy online
Buying online can save you time and money. Companies who spend millions of pounds on advertising or run large call centres have to cover these costs somewhere, and they do so by adding these costs onto the price of your insurance premium. Although online insurers do have overheads, they are much less than high street and telephone insurers, which means they can offer car insurance at up to 60% cheaper than other companies.
2.Drive a cheap and less powerful car
Car insurance companies calculate their premiums on the basis of the car engine size, the probability that it will get stolen and the cost of repairing it. Although smaller cars such as Ford Fiesta’s and Renault 5’s are more prone to being stolen than larger saloon cars, they are cheaper to repair or replace and are therefore cheaper to insure.
3.Build up a ‘no claims history’
Car insurance companies give discounts for safe drivers with a good no claims record. By building up your no claims history you can benefit from a reduction (up to 60%) off your premium, and this discount can be transferred from company to company.
4.Increase your car security
More security means lower risk for your insurance company and you can benefit from cheaper rates by locking your car in a garage a night, or installing an insurance company approved immobiliser or tracker.
5.Increase your voluntary excess
By deciding to pay a higher excess it also means you’re less likely to make a small claim on your insurance and are therefore considered a lower risk.
6.Obtain more driving qualifications
The Pass Plus qualification costs between £100-150 and involves taking lessons in different driving conditions such as at night and on the motorway. By becoming a more skilled and experienced driver most insurance companies reward their customers by reducing their premium. As a result, the qualification usually pays for itself within the first year of qualifying. Another option is the advanced driving test, but this can take much more time to pass than the Pass Plus.
7.Use your car less
Clearly, the more you use your car the higher the probability is that you’ll be involved in an accident. As a result people who travel hundreds of miles every week are likely to have a higher car insurance premium.
8.Don’t get on the wrong side of the law
Insurance companies don’t like motoring convictions as they mean a driver is seen as a higher risk. Certain motoring convictions are considered worse than others, for example drink driving offences mean that your premium will be double the usual rate.
9.Reduce the number of people under your policy
The more people on your insurance the more you’ll have to pay. So, if possible try to have as few drivers on your policy as feasible.
10.Live in the countryside
As a general rule, the further you live away from a city the cheaper your car insurance is likely to be. By living in the city your car is more likely to be stolen or be involved in car accident. You can save up to 50% on your car insurance by moving from the city to a rural location.
1.Buy online
Buying online can save you time and money. Companies who spend millions of pounds on advertising or run large call centres have to cover these costs somewhere, and they do so by adding these costs onto the price of your insurance premium. Although online insurers do have overheads, they are much less than high street and telephone insurers, which means they can offer car insurance at up to 60% cheaper than other companies.
2.Drive a cheap and less powerful car
Car insurance companies calculate their premiums on the basis of the car engine size, the probability that it will get stolen and the cost of repairing it. Although smaller cars such as Ford Fiesta’s and Renault 5’s are more prone to being stolen than larger saloon cars, they are cheaper to repair or replace and are therefore cheaper to insure.
3.Build up a ‘no claims history’
Car insurance companies give discounts for safe drivers with a good no claims record. By building up your no claims history you can benefit from a reduction (up to 60%) off your premium, and this discount can be transferred from company to company.
4.Increase your car security
More security means lower risk for your insurance company and you can benefit from cheaper rates by locking your car in a garage a night, or installing an insurance company approved immobiliser or tracker.
5.Increase your voluntary excess
By deciding to pay a higher excess it also means you’re less likely to make a small claim on your insurance and are therefore considered a lower risk.
6.Obtain more driving qualifications
The Pass Plus qualification costs between £100-150 and involves taking lessons in different driving conditions such as at night and on the motorway. By becoming a more skilled and experienced driver most insurance companies reward their customers by reducing their premium. As a result, the qualification usually pays for itself within the first year of qualifying. Another option is the advanced driving test, but this can take much more time to pass than the Pass Plus.
7.Use your car less
Clearly, the more you use your car the higher the probability is that you’ll be involved in an accident. As a result people who travel hundreds of miles every week are likely to have a higher car insurance premium.
8.Don’t get on the wrong side of the law
Insurance companies don’t like motoring convictions as they mean a driver is seen as a higher risk. Certain motoring convictions are considered worse than others, for example drink driving offences mean that your premium will be double the usual rate.
9.Reduce the number of people under your policy
The more people on your insurance the more you’ll have to pay. So, if possible try to have as few drivers on your policy as feasible.
10.Live in the countryside
As a general rule, the further you live away from a city the cheaper your car insurance is likely to be. By living in the city your car is more likely to be stolen or be involved in car accident. You can save up to 50% on your car insurance by moving from the city to a rural location.
Travel Insurance rates
Probably the biggest factors when calculating travel insurance premiums is the length of the cover required. If you are taking a two-week vacation, there is a much lower risk than if you are making a yearlong voyage around the world. That said, there are many annual travel insurance policies that cover all the trips you make in a single year and if you make more than a couple of separate trips, annual protection may work out cheaper. Often family protection policies are not too much more expensive than a single person’s policy so if you get the whole family insured together you are also likely to save.
Another big factor is where you are travelling. While some countries represent more health risks, as they are more dangerous, it is also a fact that poorer countries often have far lower medical costs so insurance tends to be highest for travellers in North America and Europe, with the US specifically recognised as having high health care costs. If you plan special high-risk activities such as skiing or mountain climbing you will either need separate insurance for this occasion, or to have the activity specifically added to your policy, as there is a good chance it will be excluded.
Insurance premiums are calculated according to several risk factors. These are the factors identified by the insurance company as most likely to have an impact on the insured against risk occurring. Insurance is a significant cost associated with the item insured and should not be rushed into. It is always a good idea to shop around for the best price available. Insurance premiums will vary considerably from insurer to insurer so do your homework.
Look up the various insurance companies you are interested in and ask them for a quote. They can usually give you a rough estimate fairly quickly and even more exact quotes should also be possible if you provide more details and wait. You should also look up insurers online and get instant quotes from their website. This is a very fast and effective way of shopping around. You will get a good idea of what prices to expect. You can also experiment with the quotation websites to see what effect it makes to your premium price if you select different options. With all insurance policies you will have a number of options that affect the price of the policy. Therefore you should think about these options and if there are risks that you do not wish to cover then let the insurer know as your premium should become cheaper.
You should also try to make sure you do not double insure. It is a principle of insurance that you cannot benefit from the insured event’s occurrence. So you cannot get paid twice even if you have two insurance policies. So if a risk is already covered by one policy, again let your insurer know so they can remove it from their calculation.
Another big factor is where you are travelling. While some countries represent more health risks, as they are more dangerous, it is also a fact that poorer countries often have far lower medical costs so insurance tends to be highest for travellers in North America and Europe, with the US specifically recognised as having high health care costs. If you plan special high-risk activities such as skiing or mountain climbing you will either need separate insurance for this occasion, or to have the activity specifically added to your policy, as there is a good chance it will be excluded.
Insurance premiums are calculated according to several risk factors. These are the factors identified by the insurance company as most likely to have an impact on the insured against risk occurring. Insurance is a significant cost associated with the item insured and should not be rushed into. It is always a good idea to shop around for the best price available. Insurance premiums will vary considerably from insurer to insurer so do your homework.
Look up the various insurance companies you are interested in and ask them for a quote. They can usually give you a rough estimate fairly quickly and even more exact quotes should also be possible if you provide more details and wait. You should also look up insurers online and get instant quotes from their website. This is a very fast and effective way of shopping around. You will get a good idea of what prices to expect. You can also experiment with the quotation websites to see what effect it makes to your premium price if you select different options. With all insurance policies you will have a number of options that affect the price of the policy. Therefore you should think about these options and if there are risks that you do not wish to cover then let the insurer know as your premium should become cheaper.
You should also try to make sure you do not double insure. It is a principle of insurance that you cannot benefit from the insured event’s occurrence. So you cannot get paid twice even if you have two insurance policies. So if a risk is already covered by one policy, again let your insurer know so they can remove it from their calculation.
Tips To Help You Lower Health Insurance Costs
Health insurance- whether provided by your employer or purchased by you-can be both expensive and complex. To better understand your options and control your health insurance costs, consider these tips and suggestions from the National Association of Insurance Commissioners (NAIC), a voluntary organization of state insurance regulatory officials:
Know Your Options
• Married couples in situations where both spouses are offered health insurance through their jobs should compare the coverage and costs (premiums, co-pays and deductibles) to determine which policy is best for the family.
• Always stay in-network when possible, making sure to get referrals and pre-certifications as required by your plan.
• Keep all receipts for medical services, whether in- or out-of-network. In the event you exceed your deductible, you may qualify to take a tax deduction for out-of-pocket medical bills.
• Consider opening a Flexible Spending Account (FSA), if your employer offers one, which allows you to set aside pretax dollars for out-of-pocket medical expenses.
• If you lose or change jobs, be aware of your rights to continue your group health coverage from your old employer for up to 18 months (though you have to pay the premiums), as provided under COBRA (the Consolidated Omnibus Budget Reconciliation Act).
Health Insurance Tips for
Different Life Stages
The NAIC's consumer Web site, Insure U, (www.InsureUonline. org), explains the different types of health insurance and gives focused tips to consumers based on their likely needs in different life stages. For example:
• Young singles who may not yet have a full-time job that offers health benefits should be aware that in some states, single adult dependents may be able to continue to get health coverage for an extended period (ranging from up to 25 to 30 years old) under their parents' health insurance policies.
• Young couples expecting a child should make sure they register their newborn with their health insurance provider within the deadline required.
• Established families with children should consider Flexible Spending Accounts if available to help pay for common childhood medical problems such as allergy tests, braces and replacements for lost eyeglasses, retainers and the like, which are often not covered by basic health insurance.
• Empty nesters/seniors who are under 65 and no longer employed, but whose COBRA benefits have run out, should research high-deductible medical plans. At this life stage, consumers may want to evaluate whether long-term care insurance makes sense for them.
Know Your Options
• Married couples in situations where both spouses are offered health insurance through their jobs should compare the coverage and costs (premiums, co-pays and deductibles) to determine which policy is best for the family.
• Always stay in-network when possible, making sure to get referrals and pre-certifications as required by your plan.
• Keep all receipts for medical services, whether in- or out-of-network. In the event you exceed your deductible, you may qualify to take a tax deduction for out-of-pocket medical bills.
• Consider opening a Flexible Spending Account (FSA), if your employer offers one, which allows you to set aside pretax dollars for out-of-pocket medical expenses.
• If you lose or change jobs, be aware of your rights to continue your group health coverage from your old employer for up to 18 months (though you have to pay the premiums), as provided under COBRA (the Consolidated Omnibus Budget Reconciliation Act).
Health Insurance Tips for
Different Life Stages
The NAIC's consumer Web site, Insure U, (www.InsureUonline. org), explains the different types of health insurance and gives focused tips to consumers based on their likely needs in different life stages. For example:
• Young singles who may not yet have a full-time job that offers health benefits should be aware that in some states, single adult dependents may be able to continue to get health coverage for an extended period (ranging from up to 25 to 30 years old) under their parents' health insurance policies.
• Young couples expecting a child should make sure they register their newborn with their health insurance provider within the deadline required.
• Established families with children should consider Flexible Spending Accounts if available to help pay for common childhood medical problems such as allergy tests, braces and replacements for lost eyeglasses, retainers and the like, which are often not covered by basic health insurance.
• Empty nesters/seniors who are under 65 and no longer employed, but whose COBRA benefits have run out, should research high-deductible medical plans. At this life stage, consumers may want to evaluate whether long-term care insurance makes sense for them.
Travel Insurance – do I need insurance for a holiday in the UK?
Last week my wife and I booked a two centre holiday on the Scottish Isles. Seven days on Skye and then a ferry over to Steornabhagh for a further seven days on the Isle of Lewis. Wonderful scenery, plenty of walks and masses of peace and quiet.
You could have blown me over when my local travel agent assumed that I wanted travel insurance for an additional £27.50. Not on your Nellie the Lock Ness monster, I thought. Who needs travel insurance for a holiday in Britain? The National Health Service is free and in an emergency, my son could drive up and bring us home.
Later in the relaxing setting of my sitting room I got to thinking …………..
Holiday misfortunes don't only happen abroad. So with my pessimistic hat on, I made a note of the risks:
Some rotter might steal our luggage
Last week I bought an all singing and dancing digital camera especially for the trip. Got it on the Internet. I might lose it whilst away.
If either of us were hospitalised we wouldn't want to be marooned on Skye. We'd want to transfer to our local hospital in Warwickshire.
My wife's parents are getting on. God forbid, but I'd have to cancel the holiday if something happened to them just before we're due to go.
One of us could be taken ill before we depart and we'd be forced to cancel. As the ferries and the hotels were non-cancellable, we'd lose everything we'd paid.
There may be a major delay at the ferry going over to the Isle of Lewis. Besides the inconvenience, we have to arrange an extra overnight stay on Skye.
One of us might be called up for jury service.
Then it struck me. If I were holidaying in the Britain, my existing Home and Contents policy might cover me for loss of my camera or luggage. I dug out the policy document. Lucky I did. I was only insured for “personal possessions” if they were listed and as I'd just bought my digital camera I hadn't got round to listing it as a valuable item on my policy.
Another aspect struck me. I'd lose my no claims discount if I made a holiday related claim on my Home & Contents policy. That wouldn't be a good idea. I've got a ten year claims free record that policy and it still cost me £310 a year. I jotted down a another note – remember, when the policy comes up for renewal, see if I could get it cheaper on the Internet.
By now a travel policy at £27.50 for was looking worthwhile after all.
Now my wife says I'm a bit of an old skin flint. So keep up the image! I know, get back online and check out the travel agents' policy at £27.50. Is it competitive?
Not all the web sites I surfed could offer me a single trip travel policy for a holiday within the UK but within ten minutes I'd found what I wanted - and a saving of over £10!
Time to study the small print to confirm I had the cover I wanted. Great, all the risks I had noted were covered. The insurer would even pay out £30 if my ferry was delayed for up to 12 hours and then give me the option to cancel my trip to the Isle of Lewis and get my money back.
Now what wouldn't they pay for? I wasn't covered if my holiday was for less than two nights or my hotel was less than 25 miles away from home. I also had to meet the first £30 of any claim. Seemed fair to me.
The decision was made. Simply type in my credit card details and I was insured in a CLICK.
Peace of mind restored!
You could have blown me over when my local travel agent assumed that I wanted travel insurance for an additional £27.50. Not on your Nellie the Lock Ness monster, I thought. Who needs travel insurance for a holiday in Britain? The National Health Service is free and in an emergency, my son could drive up and bring us home.
Later in the relaxing setting of my sitting room I got to thinking …………..
Holiday misfortunes don't only happen abroad. So with my pessimistic hat on, I made a note of the risks:
Some rotter might steal our luggage
Last week I bought an all singing and dancing digital camera especially for the trip. Got it on the Internet. I might lose it whilst away.
If either of us were hospitalised we wouldn't want to be marooned on Skye. We'd want to transfer to our local hospital in Warwickshire.
My wife's parents are getting on. God forbid, but I'd have to cancel the holiday if something happened to them just before we're due to go.
One of us could be taken ill before we depart and we'd be forced to cancel. As the ferries and the hotels were non-cancellable, we'd lose everything we'd paid.
There may be a major delay at the ferry going over to the Isle of Lewis. Besides the inconvenience, we have to arrange an extra overnight stay on Skye.
One of us might be called up for jury service.
Then it struck me. If I were holidaying in the Britain, my existing Home and Contents policy might cover me for loss of my camera or luggage. I dug out the policy document. Lucky I did. I was only insured for “personal possessions” if they were listed and as I'd just bought my digital camera I hadn't got round to listing it as a valuable item on my policy.
Another aspect struck me. I'd lose my no claims discount if I made a holiday related claim on my Home & Contents policy. That wouldn't be a good idea. I've got a ten year claims free record that policy and it still cost me £310 a year. I jotted down a another note – remember, when the policy comes up for renewal, see if I could get it cheaper on the Internet.
By now a travel policy at £27.50 for was looking worthwhile after all.
Now my wife says I'm a bit of an old skin flint. So keep up the image! I know, get back online and check out the travel agents' policy at £27.50. Is it competitive?
Not all the web sites I surfed could offer me a single trip travel policy for a holiday within the UK but within ten minutes I'd found what I wanted - and a saving of over £10!
Time to study the small print to confirm I had the cover I wanted. Great, all the risks I had noted were covered. The insurer would even pay out £30 if my ferry was delayed for up to 12 hours and then give me the option to cancel my trip to the Isle of Lewis and get my money back.
Now what wouldn't they pay for? I wasn't covered if my holiday was for less than two nights or my hotel was less than 25 miles away from home. I also had to meet the first £30 of any claim. Seemed fair to me.
The decision was made. Simply type in my credit card details and I was insured in a CLICK.
Peace of mind restored!
The Truth About Health Insurance & Free Clinics
An increasing number of individuals face every day without the convenience of health insurance. Whether it be a job that fails to provide coverage, a lack of employment altogether or simply a lack of funds to pay for health insurance, many individuals are forced to search for alternative options when it comes to healthcare.
The good news for individuals without health insurance is that many hospitals now offer convenient payment plans for treatments and/or surgical procedures. By signing an agreement with the billing office, some patients are now able to undergo treatment or have surgery that would otherwise be unavailable due to a lack of health insurance coverage.
Another option is free clinics, which are located throughout America and offer low or no cost treatment to both children and adults. This type of clinic generally provides routine check-ups, immunizations and is equipped to treat common ailments. For more serious injuries or sickness, free clinics may refer patients to an emergency care facility such as a hospital.
The most effective way to locate the nearest free clinic is to contact the local health department. As many expect, free clinics are very busy and appointments may be the best way to receive prompt treatment. If an emergency arises, a free clinic may be able to assist the patient with general care or may need to direct them to a nearby emergency room. There is always the possibility of receiving medical treatment as a walk-in patient, but an appointment is best.
Individuals who seek health insurance, but do not have a job that provides this service, may be able to obtain coverage through any major insurance provider. In many cases, this is the only option for individuals who are self-employed or continue to make a living as an entrepreneur. In addition, certain companies provide temporary coverage, which lasts 6-12 months, and is specifically designed, for individuals who are temporarily in between jobs. This type of coverage is very affordable and may be the perfect answer for anyone who finds themselves suddenly without coverage.
The information in this article is to be used for informational purposes only. It is not intended to be used in conjunction with, or in place of, professional medical advice. Patients who feel that they require ongoing care, which free clinics may or may not be able to provide, should consult their nearest hospital or medical center for proper diagnosis and treatments of their ailment.
The good news for individuals without health insurance is that many hospitals now offer convenient payment plans for treatments and/or surgical procedures. By signing an agreement with the billing office, some patients are now able to undergo treatment or have surgery that would otherwise be unavailable due to a lack of health insurance coverage.
Another option is free clinics, which are located throughout America and offer low or no cost treatment to both children and adults. This type of clinic generally provides routine check-ups, immunizations and is equipped to treat common ailments. For more serious injuries or sickness, free clinics may refer patients to an emergency care facility such as a hospital.
The most effective way to locate the nearest free clinic is to contact the local health department. As many expect, free clinics are very busy and appointments may be the best way to receive prompt treatment. If an emergency arises, a free clinic may be able to assist the patient with general care or may need to direct them to a nearby emergency room. There is always the possibility of receiving medical treatment as a walk-in patient, but an appointment is best.
Individuals who seek health insurance, but do not have a job that provides this service, may be able to obtain coverage through any major insurance provider. In many cases, this is the only option for individuals who are self-employed or continue to make a living as an entrepreneur. In addition, certain companies provide temporary coverage, which lasts 6-12 months, and is specifically designed, for individuals who are temporarily in between jobs. This type of coverage is very affordable and may be the perfect answer for anyone who finds themselves suddenly without coverage.
The information in this article is to be used for informational purposes only. It is not intended to be used in conjunction with, or in place of, professional medical advice. Patients who feel that they require ongoing care, which free clinics may or may not be able to provide, should consult their nearest hospital or medical center for proper diagnosis and treatments of their ailment.
The Tough Task Of Being A Life Insurance Agent
Life insurance agents have a very challenging occupation. To be a life insurance agent, you must be able to combine the gentle and responsive nature of a friend with the cold and almost ruthless salesmanship of a hardened professional. The best life insurance agents are able to make this tough job look effortless, but making a good living in this field is more like a walk on a tightrope than like a walk in the park.
Selling people life insurance seems innately difficult, because it is no easy task to talk somebody into spending the remainder of his or her life paying money for something that won’t benefit anybody until after he or she is dead. Some policies are more flexible, allowing for some liquidity so the beneficiaries can access a portion of the money during the customer’s lifetime, but other kinds of policies often make the complete sum of accumulated money untouchable until the customer is deceased. This makes many people reticent to invest in a life insurance policy when they could easily put that money into a potentially more lucrative and certainly more flexible portfolio of stock or mutual fund investments. A good life insurance agent must be able to express to these kinds of potential customers why life insurance is a better choice than the other fiscal options available, and being able to do so requires not only very firm conviction under pressure but a talent for articulation and persuasion as well.
Most salesmen and saleswomen are able to walk away as soon as the customer has signed on the dotted line, but being a life insurance agent requires a substantial degree of involvement with the customer all the way until the point in time when the money is paid out to the beneficiaries. Once a customer has purchased a life insurance policy, the agent’s job is far from over, which has quite a bit to do with how agents attract potential clients. Today, life insurance agents get a large percentage of their business through word of mouth referrals. This makes it absolutely imperative for an agent to keep up relationships with all of his or her clients.
To keep up a strong relationship with his or her customers so that they will send over their friends and neighbors to take out policies as well, a life insurance agent must be in contact with his or her clients on a regular basis just to check in. If a problem does arise, the agent must be responsive and quick to act in order to keep the customer’s confidence, because confidence translates into referrals. Given that being a life insurance agent requires a strong bond between agent and client, it is little wonder then that many life insurance salespeople are starting to branch out into other areas of financial planning as well. By being able to offer a customer a variety of services, the agents are maximizing their own efficiency and earning potential while also increasing their customers’ satisfaction.
Selling people life insurance seems innately difficult, because it is no easy task to talk somebody into spending the remainder of his or her life paying money for something that won’t benefit anybody until after he or she is dead. Some policies are more flexible, allowing for some liquidity so the beneficiaries can access a portion of the money during the customer’s lifetime, but other kinds of policies often make the complete sum of accumulated money untouchable until the customer is deceased. This makes many people reticent to invest in a life insurance policy when they could easily put that money into a potentially more lucrative and certainly more flexible portfolio of stock or mutual fund investments. A good life insurance agent must be able to express to these kinds of potential customers why life insurance is a better choice than the other fiscal options available, and being able to do so requires not only very firm conviction under pressure but a talent for articulation and persuasion as well.
Most salesmen and saleswomen are able to walk away as soon as the customer has signed on the dotted line, but being a life insurance agent requires a substantial degree of involvement with the customer all the way until the point in time when the money is paid out to the beneficiaries. Once a customer has purchased a life insurance policy, the agent’s job is far from over, which has quite a bit to do with how agents attract potential clients. Today, life insurance agents get a large percentage of their business through word of mouth referrals. This makes it absolutely imperative for an agent to keep up relationships with all of his or her clients.
To keep up a strong relationship with his or her customers so that they will send over their friends and neighbors to take out policies as well, a life insurance agent must be in contact with his or her clients on a regular basis just to check in. If a problem does arise, the agent must be responsive and quick to act in order to keep the customer’s confidence, because confidence translates into referrals. Given that being a life insurance agent requires a strong bond between agent and client, it is little wonder then that many life insurance salespeople are starting to branch out into other areas of financial planning as well. By being able to offer a customer a variety of services, the agents are maximizing their own efficiency and earning potential while also increasing their customers’ satisfaction.
The Salvage Truth - Boat Insurance Buying Tips
The water may be your element. You may find the sea quite stirring yet in here you find your own serenity. Yes, the mere sight of the vast sea may stir in you quite a number of various emotional responses. Not a few of people from all walks of life are motivated to build their dream houses near the beach where an overlooking view of the sea is possible. Of course, there are also those who truly enjoy riding on a boat. Some would even resort to buying and owning their own craft such as a yacht or motor boat. These sea vessels are not only bought and owned for the sole purpose of joyride or sea adventures but they are also employed for business reasons.
1. Boat Insurance - Just Like Car Insurance
It is wise to secure boat insurance for security reasons. You may never know what may happen to you and your boat’s occupants when it fares out into the vast sea. Cases of theft, salvage, and natural disasters are some of the problems you may be faced with and they can be truly irritating on one’s part. It may be a real challenge to be looking for the best boat insurance that will cover all of your needs and demands. Remember to be smart. Be inquisitive. Make the right choice with your boat insurance.
2. One Size Does Not Fit All
Each of the types of the sea vessels requires different boat insurance policies. It is best for you to conduct a thorough research before contacting any insurer. Go for the advice of friends and colleagues. Ask them which boat insurance provider will best satisfy you.
3. Know Your Insurer Well
Boat insurance can be procured from either an independent insurance agent or from a direct marine insurance specialist. The purchase of boat insurance from either of the two proves to be a good and wise move. It is necessary to be buying the boat insurance policy from none other than a reputable agent or provider in order to save yourself from the annoying possibilities of scam.
4. Use the Laymen’s Terms in All Business Affairs
Always listen well to the boat insurance agent. Treat the conversation as you would to a daily discourse. And if you come across some unfamiliar terms, ask for an explanation in the language you will best understand. It is important to know what your boat insurance policy will cover as well as those that will not be covered. If you see some loopholes, then be inquisitive.
5. Look Over Coverage Closely
It is best to secure that your boat insurance policy will work out to be not just fine, but it will be perfect to cater to all your claims. Essential coverage includes salvage recovery, accidental damage, fire, flood, and storm damage, theft, vandalism or malicious acts, liability cover, and most importantly, an easy access to a 24-hour helpline in case of emergency.
6. The Agreed Value versus the Actual Cash Value
These two are the choices in terms of the mode of payment on the boat insurance policy that a boater will want to avail. However, it is the depreciation that sets the difference between the two. For the Agreed Value Policy, the boater will have to pay more for the boat insurance. In the event of total loss, the insurer will not only pay you but will also replace most items with new ones. On the other hand, the Actual Cash Value costs less yet in the event of loss, the insurer will only be paying the actual cash amount that is at hand during the time of the property’s loss. This mode is best for clients who don’t really give a deal about total loss and for least expensive purchased boats.
7. The Salvage Truth
In case you have decided to stick with the Agreed Value boat insurance policy, then make sure that you do stay away from those that limit salvage coverage. Salvage coverage policy ensures the payment to the salvor for saving the boat from danger or by bringing it to a repair yard. You would want a handsome amount to fix the damages done to your property and surely enough you would not want some deductions from the agreed value just because some payments are to be made to the salvage costs. Definitely, this scheme of payment will leave your budget short for some of the repairs that you will need.
1. Boat Insurance - Just Like Car Insurance
It is wise to secure boat insurance for security reasons. You may never know what may happen to you and your boat’s occupants when it fares out into the vast sea. Cases of theft, salvage, and natural disasters are some of the problems you may be faced with and they can be truly irritating on one’s part. It may be a real challenge to be looking for the best boat insurance that will cover all of your needs and demands. Remember to be smart. Be inquisitive. Make the right choice with your boat insurance.
2. One Size Does Not Fit All
Each of the types of the sea vessels requires different boat insurance policies. It is best for you to conduct a thorough research before contacting any insurer. Go for the advice of friends and colleagues. Ask them which boat insurance provider will best satisfy you.
3. Know Your Insurer Well
Boat insurance can be procured from either an independent insurance agent or from a direct marine insurance specialist. The purchase of boat insurance from either of the two proves to be a good and wise move. It is necessary to be buying the boat insurance policy from none other than a reputable agent or provider in order to save yourself from the annoying possibilities of scam.
4. Use the Laymen’s Terms in All Business Affairs
Always listen well to the boat insurance agent. Treat the conversation as you would to a daily discourse. And if you come across some unfamiliar terms, ask for an explanation in the language you will best understand. It is important to know what your boat insurance policy will cover as well as those that will not be covered. If you see some loopholes, then be inquisitive.
5. Look Over Coverage Closely
It is best to secure that your boat insurance policy will work out to be not just fine, but it will be perfect to cater to all your claims. Essential coverage includes salvage recovery, accidental damage, fire, flood, and storm damage, theft, vandalism or malicious acts, liability cover, and most importantly, an easy access to a 24-hour helpline in case of emergency.
6. The Agreed Value versus the Actual Cash Value
These two are the choices in terms of the mode of payment on the boat insurance policy that a boater will want to avail. However, it is the depreciation that sets the difference between the two. For the Agreed Value Policy, the boater will have to pay more for the boat insurance. In the event of total loss, the insurer will not only pay you but will also replace most items with new ones. On the other hand, the Actual Cash Value costs less yet in the event of loss, the insurer will only be paying the actual cash amount that is at hand during the time of the property’s loss. This mode is best for clients who don’t really give a deal about total loss and for least expensive purchased boats.
7. The Salvage Truth
In case you have decided to stick with the Agreed Value boat insurance policy, then make sure that you do stay away from those that limit salvage coverage. Salvage coverage policy ensures the payment to the salvor for saving the boat from danger or by bringing it to a repair yard. You would want a handsome amount to fix the damages done to your property and surely enough you would not want some deductions from the agreed value just because some payments are to be made to the salvage costs. Definitely, this scheme of payment will leave your budget short for some of the repairs that you will need.
UK Mortgage Insurance - Need for Mortgage Insurance
Insurance is a great way to safeguard your self from the uncertainties in life. Mortgage Payment Protection Insurance is designed to protect you from getting into debt or missing the mortgage payments due to unemployment. If you are living in a country like UK mortgage insurance is extremely important to protect your self from getting into ever increasing debt. In case you are not able to make the mortgage payments on account of various reasons like unemployment due to ill health or old age etc, having the Mortgage Payment Protection Insurance or mortgage insurance really helps.
Earlier, the government used to pay the interest on the mortgage if you were unemployed. In the UK mortgage insurance was recommended by the government to the home owners. For millions of people in UK mortgage insurance is now becoming an essential part of their financial planning.
In UK mortgage insurance was brought into the market as a substitute to government help. The intention is to cover the mortgage payments in case of non-ability of the insured to make the monthly mortgage payments. Just like any other policy, the insurer has to pay a monthly premium depending upon the mortgage amount. In case of unemployment, the mortgage insurance company will make the payments on your behalf. There a many mortgage insurance policies available in the market. Many UK mortgage companies provide you with mortgage insurance. If you want to go for a mortgage insurance of your choice, then you can approach another mortgage insurance broker independently.
Choosing the right mortgage insurance.
There are many mortgage insurance policies available in the market. Choose the one that suits your needs and requirements perfectly. A mortgage insurance policy that covers a wide range of circumstances for accepting claims should ideally be picked. The mortgage insurance companies offer all kinds of covers like life insurance, handicap, ailment and severe illness.
The mortgage insurance policy should be carefully scrutinized. Read the fine print and understand the terms and conditions of the policy properly. There can be various conditions and clauses under which the mortgage insurance company is not liable to pay. Majority of the mortgage insurance companies do not pay out in the initial three months. Even afterwards, most of the mortgage insurance companies take around 60 days for a payout. So you will have to make arrangements for the mortgage payment during that period. Some UK mortgage insurance companies take around 90 to 120 days for a payout. Such mortgage insurance companies can be avoided.
The Premium
The premium for a mortgage insurance policy depends on the clauses and conditions it has. In the UK mortgage insurance quotes vary from £2.45 to £9 per £100 of the covered amount. The Association of British Insurers recommends a premium of £4.50 per £100 of the amount covered under the mortgage insurance. There are various deals and offers from the mortgage insurance companies all year around so you should do some research work before choosing a mortgage insurance policy.
Some mortgage companies offer a complimentary mortgage insurance policy along with the mortgage. Many people take the offer as they don’t have to pay any premium during the initial period. Although it might be beneficial to some extent, it should not be the deciding factor for choosing a mortgage insurance policy.
Earlier, the government used to pay the interest on the mortgage if you were unemployed. In the UK mortgage insurance was recommended by the government to the home owners. For millions of people in UK mortgage insurance is now becoming an essential part of their financial planning.
In UK mortgage insurance was brought into the market as a substitute to government help. The intention is to cover the mortgage payments in case of non-ability of the insured to make the monthly mortgage payments. Just like any other policy, the insurer has to pay a monthly premium depending upon the mortgage amount. In case of unemployment, the mortgage insurance company will make the payments on your behalf. There a many mortgage insurance policies available in the market. Many UK mortgage companies provide you with mortgage insurance. If you want to go for a mortgage insurance of your choice, then you can approach another mortgage insurance broker independently.
Choosing the right mortgage insurance.
There are many mortgage insurance policies available in the market. Choose the one that suits your needs and requirements perfectly. A mortgage insurance policy that covers a wide range of circumstances for accepting claims should ideally be picked. The mortgage insurance companies offer all kinds of covers like life insurance, handicap, ailment and severe illness.
The mortgage insurance policy should be carefully scrutinized. Read the fine print and understand the terms and conditions of the policy properly. There can be various conditions and clauses under which the mortgage insurance company is not liable to pay. Majority of the mortgage insurance companies do not pay out in the initial three months. Even afterwards, most of the mortgage insurance companies take around 60 days for a payout. So you will have to make arrangements for the mortgage payment during that period. Some UK mortgage insurance companies take around 90 to 120 days for a payout. Such mortgage insurance companies can be avoided.
The Premium
The premium for a mortgage insurance policy depends on the clauses and conditions it has. In the UK mortgage insurance quotes vary from £2.45 to £9 per £100 of the covered amount. The Association of British Insurers recommends a premium of £4.50 per £100 of the amount covered under the mortgage insurance. There are various deals and offers from the mortgage insurance companies all year around so you should do some research work before choosing a mortgage insurance policy.
Some mortgage companies offer a complimentary mortgage insurance policy along with the mortgage. Many people take the offer as they don’t have to pay any premium during the initial period. Although it might be beneficial to some extent, it should not be the deciding factor for choosing a mortgage insurance policy.
Why This Lawyer Says You Should Buy Car Insurance From An Independent Broker
I don't sell car insurance, but as a lawyer practicing in the field of personal injury I frequently see people suffer because they have the wrong insurance coverage. Often, this happens because they purchased directly from an insurance company instead of an independent broker.
Many of my clients who have been seriously hurt in a car accident were struck by someone who had no insurance or only the minimum liability insurance coverage, which is $25,000 in New York and much less in many other states. Unfortunately, many of my clients were sold insurance policies with liability limits of $100,000 or $300,000, but were not sold matching uninsured and underinsured coverage.
Just this week, yet another new client had this problem. My client was a pedestrian crossing the street when she was struck by a car which fled the scene. The driver was caught shortly after leaving the accident, but the owner of the car only has the New York State minimum liability insurance of $25,000 and my client has serious injuries consisting of many broken bones including a fractured arm, leg and skull.
My client owns a car with liability insurance limits of $300,000, but she purchased the insurance from GEICO whose salesperson didn't sell her underinsured coverage. GEICO does not use independent insurance brokers, but sells insurance directly to consumers through in-house sales agents.
For a small fee, my client could have purchased underinsured coverage of $300,000 which would have allowed her to recover $300,000 for her injuries instead of $25,000. Ironically, she did not need the $300,000 liability coverage to protect her assets. However, since you cannot buy underinsured coverage higher than your liability coverage, I would have advised her to purchase $300,000 liability coverage for the sole purpose of being able to purchase $300,000 underinsured coverage.
I have had many clients in this situation who lost their jobs because of serious injuries and incurred substantial debt. If they had matching underinsured coverage, the additional money available to pay their claim would would be a big help to pay their bills and get their life back together.
Underinsured motorist coverage will pay you money from your own automobile insurance policy if you have been hurt in a car accident by someone who was negligent for causing your injury and who had less liability insurance coverage than you did. Uninsured motorist coverage will pay you when the other car did not have any insurance coverage or the identity of the other car is unknown.
Underinsured and uninsured coverage is inexpensive and usually available in limits that match your liability insurance coverage. It is not available in amounts greater than your liability insurance coverage.
Underinsured and uninsured coverage is so important that a couple of states now require coverage limits matching your liability insurance limits, unless you decline the coverage in writing. Several years ago, I suggested to several New York State senators that they enact a similar law in New York.
I have also seen many clients who were not sold the maximum medical payments insurance, which costs me only $2.01 per month on my car insurance policy. This is particularly important for people who do not have a good health insurance policy. It is also beneficial for passengers who do not have health insurance.
Why should you buy car insurance through an independent insurance broker? The courts have defined the reason. There have been several "malpractice" lawsuits against insurance companies for failure to offer underinsured and uninsured motorists coverage limits matching the liability limits. However, when the insurance company sells directly to consumers, these cases have gone in favor of the insurance companies. The courts found that when a consumer buys insurance directly from an insurance company, rather than an insurance broker, the consumer is only buying insurance and is not paying for advice.
When you buy auto insurance from an independent insurance broker who represents several different insurance companies, you get the advantage of an insurance professional who can evaluate your needs and advise you accordingly. Additionally, only an independent insurance broker can provide you with a choice of insurance companies and premiums, so you get the best coverage at the lowest price.
Whether you buy your car insurance directly from an insurance company or through an independent insurance broker, always make sure that you purchase matching uninsured and underinsured motorist coverage and the maximum medical payment benefits.
Many of my clients who have been seriously hurt in a car accident were struck by someone who had no insurance or only the minimum liability insurance coverage, which is $25,000 in New York and much less in many other states. Unfortunately, many of my clients were sold insurance policies with liability limits of $100,000 or $300,000, but were not sold matching uninsured and underinsured coverage.
Just this week, yet another new client had this problem. My client was a pedestrian crossing the street when she was struck by a car which fled the scene. The driver was caught shortly after leaving the accident, but the owner of the car only has the New York State minimum liability insurance of $25,000 and my client has serious injuries consisting of many broken bones including a fractured arm, leg and skull.
My client owns a car with liability insurance limits of $300,000, but she purchased the insurance from GEICO whose salesperson didn't sell her underinsured coverage. GEICO does not use independent insurance brokers, but sells insurance directly to consumers through in-house sales agents.
For a small fee, my client could have purchased underinsured coverage of $300,000 which would have allowed her to recover $300,000 for her injuries instead of $25,000. Ironically, she did not need the $300,000 liability coverage to protect her assets. However, since you cannot buy underinsured coverage higher than your liability coverage, I would have advised her to purchase $300,000 liability coverage for the sole purpose of being able to purchase $300,000 underinsured coverage.
I have had many clients in this situation who lost their jobs because of serious injuries and incurred substantial debt. If they had matching underinsured coverage, the additional money available to pay their claim would would be a big help to pay their bills and get their life back together.
Underinsured motorist coverage will pay you money from your own automobile insurance policy if you have been hurt in a car accident by someone who was negligent for causing your injury and who had less liability insurance coverage than you did. Uninsured motorist coverage will pay you when the other car did not have any insurance coverage or the identity of the other car is unknown.
Underinsured and uninsured coverage is inexpensive and usually available in limits that match your liability insurance coverage. It is not available in amounts greater than your liability insurance coverage.
Underinsured and uninsured coverage is so important that a couple of states now require coverage limits matching your liability insurance limits, unless you decline the coverage in writing. Several years ago, I suggested to several New York State senators that they enact a similar law in New York.
I have also seen many clients who were not sold the maximum medical payments insurance, which costs me only $2.01 per month on my car insurance policy. This is particularly important for people who do not have a good health insurance policy. It is also beneficial for passengers who do not have health insurance.
Why should you buy car insurance through an independent insurance broker? The courts have defined the reason. There have been several "malpractice" lawsuits against insurance companies for failure to offer underinsured and uninsured motorists coverage limits matching the liability limits. However, when the insurance company sells directly to consumers, these cases have gone in favor of the insurance companies. The courts found that when a consumer buys insurance directly from an insurance company, rather than an insurance broker, the consumer is only buying insurance and is not paying for advice.
When you buy auto insurance from an independent insurance broker who represents several different insurance companies, you get the advantage of an insurance professional who can evaluate your needs and advise you accordingly. Additionally, only an independent insurance broker can provide you with a choice of insurance companies and premiums, so you get the best coverage at the lowest price.
Whether you buy your car insurance directly from an insurance company or through an independent insurance broker, always make sure that you purchase matching uninsured and underinsured motorist coverage and the maximum medical payment benefits.
What Is An IRA?
It's important to start saving early for retirement. The good news is, even if you already have a 401(k) at work, you can give your savings a boost with an Individual Retirement Account (IRA). An IRA, which combines the benefits of compound interest and tax savings, is available to anyone who earns a taxable income. You can open an IRA at virtually any financial institution, including your bank, and opening fees are typically lower than other investment accounts.
While opening an IRA is relatively easy, figuring out what type is best for you can be confusing.
There are two types of IRAs-traditional and Roth. With a traditional IRA, your earnings are taxed when you start making withdrawals, and you generally incur a penalty if you withdraw money before age 591/2. With a Roth IRA, you can withdraw your earnings tax-free after age 591/2 as long as you've had the account for at least five years. In other words, earnings from a traditional IRA are tax deferred, while Roth IRA earnings are tax exempt.
Another important difference is that you must begin taking withdrawals from a traditional IRA at age 701/2. There is no mandatory distribution age with a Roth, but there are income restrictions. Single filers with adjusted gross income of $110,000 or more and couples whose joint return is $160,000 or more cannot open a Roth. Traditional IRAs, on the other hand, have no income restrictions.
That explains a little about the money you take out of an IRA, but what about the money you put in? Contributions to a traditional IRA may be tax deductible depending on your income level, but if you're eligible to participate in your employer's retirement plan, you may not be able to deduct all of your contributions. On the other hand, Roth IRA contributions are never tax deductible, but earnings are tax-free if part of a qualified distribution.
The federal government imposes new IRA contribution limits each year. It's generally a good idea to make the maximum contribution. The good news is, contribution limits have gone up since 2002 and continue to increase, so there's never been a better time to open an IRA.
While opening an IRA is relatively easy, figuring out what type is best for you can be confusing.
There are two types of IRAs-traditional and Roth. With a traditional IRA, your earnings are taxed when you start making withdrawals, and you generally incur a penalty if you withdraw money before age 591/2. With a Roth IRA, you can withdraw your earnings tax-free after age 591/2 as long as you've had the account for at least five years. In other words, earnings from a traditional IRA are tax deferred, while Roth IRA earnings are tax exempt.
Another important difference is that you must begin taking withdrawals from a traditional IRA at age 701/2. There is no mandatory distribution age with a Roth, but there are income restrictions. Single filers with adjusted gross income of $110,000 or more and couples whose joint return is $160,000 or more cannot open a Roth. Traditional IRAs, on the other hand, have no income restrictions.
That explains a little about the money you take out of an IRA, but what about the money you put in? Contributions to a traditional IRA may be tax deductible depending on your income level, but if you're eligible to participate in your employer's retirement plan, you may not be able to deduct all of your contributions. On the other hand, Roth IRA contributions are never tax deductible, but earnings are tax-free if part of a qualified distribution.
The federal government imposes new IRA contribution limits each year. It's generally a good idea to make the maximum contribution. The good news is, contribution limits have gone up since 2002 and continue to increase, so there's never been a better time to open an IRA.
Water, Water Everywhere
Floods can happen without warning. Even if you don't live near a river, one heavy rainstorm can change everything. Floods can happen anywhere, according to the Federal Emergency Management Agency.
Floods occur whenever rain, melting snow or even a dam break produces more water than the land can readily absorb. Use the following tips from the CPCU Society to protect your family and belongings from floods:
• Keep an up-to-date home inventory and other important papers in a secure place. If you must evacuate, take these items with you. Also, keep exact copies in a place away from home, such as a bank safety-deposit box.
• Utility services may be disrupted during floods. Stock non-perishable food that requires little or no cooking. Buy bottled water or prepare jugs for filling with water.
• Check portable radios and flashlights. Make sure you have new batteries on hand.
• Keep your car's gas tank filled. Also, keep oil and gas tanks for your home heating system filled. This will help keep them from coming loose and causing damage to the foundation.
• Leave immediately when authorities tell you to evacuate. Delay can trap you without an escape route. Because flooding changes the way areas and landmarks look, you can become disoriented easily.
• Do not walk or drive through flowing water. As little as six inches of fast-moving water can knock down an adult.
• Be alert to downed electrical wires and gas leaks. Electricity travels through water, so report downed wires as soon as possible. Before using electrical devices and heating and air-conditioning equipment, have a trained professional check them. The damage may not be obvious if the equipment was under water or exposed to moisture.
• Contact your insurance representative as soon as possible. Document the damage with photos. Keep evidence of damage and loss for the claims adjuster.
Standard homeowners insurance does not cover flood damage; however, special flood insurance covers this risk. Flood insurance pays for covered losses quickly. Government loans and grants may take some time and not cover what was lost. Your insurance agent can give you coverage information or a no-obligation quote.
Floods occur whenever rain, melting snow or even a dam break produces more water than the land can readily absorb. Use the following tips from the CPCU Society to protect your family and belongings from floods:
• Keep an up-to-date home inventory and other important papers in a secure place. If you must evacuate, take these items with you. Also, keep exact copies in a place away from home, such as a bank safety-deposit box.
• Utility services may be disrupted during floods. Stock non-perishable food that requires little or no cooking. Buy bottled water or prepare jugs for filling with water.
• Check portable radios and flashlights. Make sure you have new batteries on hand.
• Keep your car's gas tank filled. Also, keep oil and gas tanks for your home heating system filled. This will help keep them from coming loose and causing damage to the foundation.
• Leave immediately when authorities tell you to evacuate. Delay can trap you without an escape route. Because flooding changes the way areas and landmarks look, you can become disoriented easily.
• Do not walk or drive through flowing water. As little as six inches of fast-moving water can knock down an adult.
• Be alert to downed electrical wires and gas leaks. Electricity travels through water, so report downed wires as soon as possible. Before using electrical devices and heating and air-conditioning equipment, have a trained professional check them. The damage may not be obvious if the equipment was under water or exposed to moisture.
• Contact your insurance representative as soon as possible. Document the damage with photos. Keep evidence of damage and loss for the claims adjuster.
Standard homeowners insurance does not cover flood damage; however, special flood insurance covers this risk. Flood insurance pays for covered losses quickly. Government loans and grants may take some time and not cover what was lost. Your insurance agent can give you coverage information or a no-obligation quote.
Whole Life Insurance Tips
Before deciding which kind of life insurance policy is best for you, you must know the key aspects of whole life insurance and how it will be beneficial for you. With a whole life insurance policy you can make your loved ones financially secure in the event of your death. Simply speaking, life insurance helps your loved ones by paying them upon your death.
What is whole life insurance?
Whole life insurance is a permanent life insurance, which covers your whole life with timely premium payments as long as you live.
With increase level of premiums and cash values, this life insurance policy will be the best choice for long-term goals. The amount of guaranteed cash values could provide money to help during emergencies or temporary needs.
Features of Whole Life Insurance
1. Premiums generally are level and payable for life: In the starting premiums will be little higher than a term life insurance but as you go elder, the less expensive will be your annual premiums.
2. Dividends: Dividends are not guaranteed with whole life insurance but there is a chance of earning dividends.
3. Guaranteed Cash Values: In case of term life insurance, there are no cash values but with whole life insurance some money will be stored as cash values. If you give up the policy, accumulated guaranteed cash values would be yours. You can even take loan against your whole life insurance policy.
Before signing up with a whole life insurance policy, you should ask following questions to the agent appointed by Whole Life Insurance Company.
1. Which insurance is best for me, Whole Life Insurance or term life insurance?
2. How much coverage do I need?
3. How and how much discount can I get?
4. What are your Standard & Poor’s ratings?
You must consider following aspects while choosing a Whole Life Insurance Company.
1. Expenses and commissions.
2. Guaranteed cash value.
3. Dividends and interest.
4. How do they adjust the death benefit?
You can get any necessary information from online life insurance companies with the help of fast online Internet access. Fast online Internet access and web sites available make you easily compare and get Whole life insurance online quotes.
What is whole life insurance?
Whole life insurance is a permanent life insurance, which covers your whole life with timely premium payments as long as you live.
With increase level of premiums and cash values, this life insurance policy will be the best choice for long-term goals. The amount of guaranteed cash values could provide money to help during emergencies or temporary needs.
Features of Whole Life Insurance
1. Premiums generally are level and payable for life: In the starting premiums will be little higher than a term life insurance but as you go elder, the less expensive will be your annual premiums.
2. Dividends: Dividends are not guaranteed with whole life insurance but there is a chance of earning dividends.
3. Guaranteed Cash Values: In case of term life insurance, there are no cash values but with whole life insurance some money will be stored as cash values. If you give up the policy, accumulated guaranteed cash values would be yours. You can even take loan against your whole life insurance policy.
Before signing up with a whole life insurance policy, you should ask following questions to the agent appointed by Whole Life Insurance Company.
1. Which insurance is best for me, Whole Life Insurance or term life insurance?
2. How much coverage do I need?
3. How and how much discount can I get?
4. What are your Standard & Poor’s ratings?
You must consider following aspects while choosing a Whole Life Insurance Company.
1. Expenses and commissions.
2. Guaranteed cash value.
3. Dividends and interest.
4. How do they adjust the death benefit?
You can get any necessary information from online life insurance companies with the help of fast online Internet access. Fast online Internet access and web sites available make you easily compare and get Whole life insurance online quotes.
Why Families Shouldn't be Without Term Life Insurance
My father died when I was nine. He left behind my mother and four children aged between seventeen years and nine and no money. Sure I missed him but at nine I didn't really have much idea about death or loss. I know it sounds selfish but what I really missed was our old lifestyle. We had to move house because we lived in a company house and couldn't stay there anymore. We had to give up our car because that was provided by the company too. All we could afford was a run down council house. It was small and cramped and didn't have much in the way of fences so we felt we had neighbours right on top of us. This was all salt to the wound of our grief, all these niggly things that had now become our life. I don't know why my father didn't take out life insurance, all I know is that he didn't and we bore the consequences of that decision for a long time.
It has made me wonder why so many people roll their eyes when the words 'life insurance' are uttered out loud. Sure I can understand not wanting to contemplate a scenario that would require you or your family to actually need it but that is no excuse for ignoring it altogether and not planning ahead. Imagine, just for a moment, your family’s life if the worst was to happen and you didn’t have life insurance?
The purpose of life insurance is to guarantee an income to your spouse and children if you were no longer able to contribute to their welfare like you do now. Think about it, if something were to happen to you, could your family afford to live in your current home? Would there be enough money to maintain their current lifestyle? Would the cost of a funeral become a burden? Would your spouse be able to support your family easily? Or would the stress and grief and financial burden of loosing you cause unendurable hardship for them?
Maybe you think that because you have saved and invested wisely and setup a solid foundation that despite missing you, your family would be OK financially. The reality is that it is unlikely. This is particularly true for families with young children. This is often a time where families are still struggling to become established and often debts are high, savings low, caring for children is costly and income may not be at its peak or perhaps one partner is out of the workforce to care for the children. Of course, it is this time when funds are often stretched that life insurance is most needed but often that very fact puts families off from the regular commitment of insurance premiums.
But the good news is that it makes you a good candidate for term life insurance because it is the most inexpensive form of life insurance around. The premiums for term life insurance are worked out based on your age and health and is usually purchased in terms of a specific number of years – 1, 5, 10, 20 or whatever period you would prefer. The upshot is that term life insurance has the highest coverage for the lowest premiums.
While term insurance is not ideal for older individuals as prices go up substantially with age, it is the a great solution for younger couples or families who have high debts including mortgages, life expenses and dependants. The insurance can cover you while your children grow and the mortgage is paid off. By the time the policy expires you will more than likely have invested, paid off your major debts and no longer have dependants.
So Who Needs to be Covered with a Life Insurance Policy? Given that insurance is really about income protection – providing funds when you can't – you would normally cover whoever is contributing to the family finances. So first up, make sure the primary income earner is covered. If this income disappeared then you want to make sure the ongoing family needs are covered.
But don't stop there. If your spouse looks after the children full-time and something were to happen to them, how would you fund childcare? Insurance could cover that additional cost. So if any secondary income is relied on to cover expenses either through income or an unpaid contribution then that person should also have an insurance policy.
Do you need to get life insurance for your children? Generally, this is only advised if you can't afford funeral expenses (generally about $5000). Otherwise, there is no reason for children to be insured as they do not contribute to the family income.
Having life insurance not only gives you peace of mind knowing your family will be taken care of after you or your spouse has gone, it may well be one of the best financial decisions your family could make.
It has made me wonder why so many people roll their eyes when the words 'life insurance' are uttered out loud. Sure I can understand not wanting to contemplate a scenario that would require you or your family to actually need it but that is no excuse for ignoring it altogether and not planning ahead. Imagine, just for a moment, your family’s life if the worst was to happen and you didn’t have life insurance?
The purpose of life insurance is to guarantee an income to your spouse and children if you were no longer able to contribute to their welfare like you do now. Think about it, if something were to happen to you, could your family afford to live in your current home? Would there be enough money to maintain their current lifestyle? Would the cost of a funeral become a burden? Would your spouse be able to support your family easily? Or would the stress and grief and financial burden of loosing you cause unendurable hardship for them?
Maybe you think that because you have saved and invested wisely and setup a solid foundation that despite missing you, your family would be OK financially. The reality is that it is unlikely. This is particularly true for families with young children. This is often a time where families are still struggling to become established and often debts are high, savings low, caring for children is costly and income may not be at its peak or perhaps one partner is out of the workforce to care for the children. Of course, it is this time when funds are often stretched that life insurance is most needed but often that very fact puts families off from the regular commitment of insurance premiums.
But the good news is that it makes you a good candidate for term life insurance because it is the most inexpensive form of life insurance around. The premiums for term life insurance are worked out based on your age and health and is usually purchased in terms of a specific number of years – 1, 5, 10, 20 or whatever period you would prefer. The upshot is that term life insurance has the highest coverage for the lowest premiums.
While term insurance is not ideal for older individuals as prices go up substantially with age, it is the a great solution for younger couples or families who have high debts including mortgages, life expenses and dependants. The insurance can cover you while your children grow and the mortgage is paid off. By the time the policy expires you will more than likely have invested, paid off your major debts and no longer have dependants.
So Who Needs to be Covered with a Life Insurance Policy? Given that insurance is really about income protection – providing funds when you can't – you would normally cover whoever is contributing to the family finances. So first up, make sure the primary income earner is covered. If this income disappeared then you want to make sure the ongoing family needs are covered.
But don't stop there. If your spouse looks after the children full-time and something were to happen to them, how would you fund childcare? Insurance could cover that additional cost. So if any secondary income is relied on to cover expenses either through income or an unpaid contribution then that person should also have an insurance policy.
Do you need to get life insurance for your children? Generally, this is only advised if you can't afford funeral expenses (generally about $5000). Otherwise, there is no reason for children to be insured as they do not contribute to the family income.
Having life insurance not only gives you peace of mind knowing your family will be taken care of after you or your spouse has gone, it may well be one of the best financial decisions your family could make.
Why Buy Travel Insurance?
When you choose to travel, you take the risk of lost luggage, flight cancellations, reservation cancellations, theft and many other situations which may cause anxiety. Planning a vacation is stressful enough without having to worry about something going horribly wrong. Purchasing travel insurance will ensure that you are compensated if anything goes wrong on your trip. When trying to determine whether or not to purchase travel insurance, keep in mind the points listed below which may make your decision much easier.
Many forms of travel insurance will cover you in the following areas:
1. Medical Emergencies – Travel insurance will provide you with financial help should you encounter a medical emergency while traveling. If you become ill or are injured while on vacation, your travel insurance will provide you coverage in both situations.
2. Cancellations or Delays – If for any reason (beyond your control) your trip is cancelled or delayed your travel insurance will provide you with financial coverage. This includes coverage if your airline goes bankrupt or out of service. Your travel insurance will either compensate you for the money you lost or provide you with new means of transportation.
3. Theft – If anything belonging to you is stolen while you are on vacation, your travel insurance will provide you with financial assistance to replace the items which were stolen.
4. Damage or Loss of Personal Property – This is likely to happen while on vacation. If your luggage is lost or damaged while on vacation, your travel insurance will definitely cover at least some percentage of the property that is missing. Depending on the insurance plan, it may financially cover all the items that are missing.
5. Lost Passport – If you lose your passport or it is stolen while you are on vacation, travel insurance will provide you with the means to get a temporary one. Your travel insurance company will inform you on how to get in contact with your country embassy so that you can arrange to receive a temporary passport.
Depending on the insurance plan you choose, you may be fully or partially covered in the areas listed above. Choose your policy according to what you think the possibility will be that you will require the assistance on your trip.
For many vacationers, travel insurance eliminates any worry that an unforeseen circumstance may arise in which you do not have the money or means to take care of.
Travel insurance helps you relax and enjoy your trip without agonizing over things that may or may not go wrong. Relaxing and enjoying? Isn’t that why you planned the vacation in the first place?
Many forms of travel insurance will cover you in the following areas:
1. Medical Emergencies – Travel insurance will provide you with financial help should you encounter a medical emergency while traveling. If you become ill or are injured while on vacation, your travel insurance will provide you coverage in both situations.
2. Cancellations or Delays – If for any reason (beyond your control) your trip is cancelled or delayed your travel insurance will provide you with financial coverage. This includes coverage if your airline goes bankrupt or out of service. Your travel insurance will either compensate you for the money you lost or provide you with new means of transportation.
3. Theft – If anything belonging to you is stolen while you are on vacation, your travel insurance will provide you with financial assistance to replace the items which were stolen.
4. Damage or Loss of Personal Property – This is likely to happen while on vacation. If your luggage is lost or damaged while on vacation, your travel insurance will definitely cover at least some percentage of the property that is missing. Depending on the insurance plan, it may financially cover all the items that are missing.
5. Lost Passport – If you lose your passport or it is stolen while you are on vacation, travel insurance will provide you with the means to get a temporary one. Your travel insurance company will inform you on how to get in contact with your country embassy so that you can arrange to receive a temporary passport.
Depending on the insurance plan you choose, you may be fully or partially covered in the areas listed above. Choose your policy according to what you think the possibility will be that you will require the assistance on your trip.
For many vacationers, travel insurance eliminates any worry that an unforeseen circumstance may arise in which you do not have the money or means to take care of.
Travel insurance helps you relax and enjoy your trip without agonizing over things that may or may not go wrong. Relaxing and enjoying? Isn’t that why you planned the vacation in the first place?
Why Should You Shop Around for Auto Insurance?
Does buying from the most expensive company mean you are buying the best coverage? Generally, a good deal is a state of mind. As long as you are happy, with the amount of coverage, you have and how much you paid for it, you got a good deal. For each person, the amount of coverage they need and what they can afford to spend is usually a different amount.
The main reason drivers overpay on their insurance is they do not shop around. CarInsurance.com offers an easy way to shop around. They do compare the pricing of several auto insurance quotes. Knowing how much coverage you need will help you select an insurance company. This is one of the best ways for consumers to maximize what they get for their insurance premiums.
Insurance is a highly competitive business. There are thousands of insurers offering policies to consumers. Each consumer's goal should be to find a financially solid company that offers a fair price along with superior customer service. How do you know which company can provide such a combination of both good pricing and customer service? One way is to talking to friends, relatives, and business associates. Ask people you know and respect what insurance company they use. Ask if they are pleased with how their company handles claims.
The insurance industry is highly regulated. It is important to do business with a company that is licensed by the state in which you live. Another factor of the strength a company has is its A.M. Best Company rating. You want to be comfortable knowing that in the event of a claim your company will be there for you. A.M. Best Company is the industry leader providing ratings and financial information for insurance companies.
How do you know what to expect from your insurance company? Your insurance company and its representatives should be able to answer your questions. They should be able to help you determine what coverage and limits you should carry based on your needs. They should handle any claims fairly, efficiently and quickly. You should feel comfortable with both the insurance company that you select and the insurance agent or company representative that you will be working with. Your insurance professional should take the time to understand your insurance needs and answer all of your questions to your satisfaction.
Now is the time for your fingers to punch their way to a quick rate analysis and view the ratings at the same time.
The main reason drivers overpay on their insurance is they do not shop around. CarInsurance.com offers an easy way to shop around. They do compare the pricing of several auto insurance quotes. Knowing how much coverage you need will help you select an insurance company. This is one of the best ways for consumers to maximize what they get for their insurance premiums.
Insurance is a highly competitive business. There are thousands of insurers offering policies to consumers. Each consumer's goal should be to find a financially solid company that offers a fair price along with superior customer service. How do you know which company can provide such a combination of both good pricing and customer service? One way is to talking to friends, relatives, and business associates. Ask people you know and respect what insurance company they use. Ask if they are pleased with how their company handles claims.
The insurance industry is highly regulated. It is important to do business with a company that is licensed by the state in which you live. Another factor of the strength a company has is its A.M. Best Company rating. You want to be comfortable knowing that in the event of a claim your company will be there for you. A.M. Best Company is the industry leader providing ratings and financial information for insurance companies.
How do you know what to expect from your insurance company? Your insurance company and its representatives should be able to answer your questions. They should be able to help you determine what coverage and limits you should carry based on your needs. They should handle any claims fairly, efficiently and quickly. You should feel comfortable with both the insurance company that you select and the insurance agent or company representative that you will be working with. Your insurance professional should take the time to understand your insurance needs and answer all of your questions to your satisfaction.
Now is the time for your fingers to punch their way to a quick rate analysis and view the ratings at the same time.
Would You Like To Save Big Money On Your Auto Insurance And Reduce Your Risk Of Auto Theft?
With the rising price of gas, skyrocketing health care costs, etc... Americans are feeling the economic crunch. Lets put some money back in your pocket right now and lets take a bite out of auto theft.
The best part is
(1) You don’t have to switch insurance carriers.
(2) Local auto dealers charge $299-$499 for this same service (real price should be $25-$30)- What a ripoff! (Note dealers also charge $200-$1000 for replacement headlights when you can buy headlight cleaner and restorer for under $20).
(3) You can easily purchase it direct from the manufacturer below cost right through the internet!
Police departments, insurance companies, AAA Auto Club, Motor Week, Speedvision TV, and leading consumer groups and publications all recommend window etching as a strong theft deterrent and a great investment.
The top 10 most stolen autos:
1. Toyota Camry
2. Honda Accord
3. Oldsmobile Cutlass
4. Honda Civic
5. Jeep Cherokee
6. Chevrolet trucks
7. Toyota Corolla
8. Chevrolet Caprice
9. Ford Taurus
10. Ford trucks
Did you know that every 19 minutes a car is stolen in this country! Vehicles equipped with a visible theft deterrent system are 4 times less likely to be stolen. Auto etching uses a strong caustic to etch vin #'s and other registered numbers into your car windows (glass is the third most valuable item after plastic headlights and air bags that professional thieves look for - these items are then resold on Ebay and elsewhere by these thieves for quick cash). 95% of thefts are by professional car thieves.
Chemical auto etching is a safe process. No damage is done to the vehicle and it can be professionally done. It is very affordable as its actual costis 70 – 85% less than auto dealer’s charge and has many benefits:
1) It has been proven to enhances vehicle value at resale.
2) INSURANCE DISCOUNTS OF UP TO 35% OR MORE!*
3) No mechanical parts to break down or need repair.
4) SAVE MONEY AND HAVE PEACE OF MIND! – 9 out of 10 auto thefts are by professionals who will not take a car with traceable numbers.
One of the most cost effective security steps is having a security number etched on each window. Start saving big on your insurance today! Auto etch, like headlight cleaner and restorer, is a bonafide product backed and used by the police in every state. It is guaranteed to save you far more than it costs, has numerous benefits, And you can undercut the dealer and buy it without paying their ridiculous prices ($200-$600+)! For more information on Auto etch and/or similar products like headlight restoration kits contact the author below or look up auto etch on the internet. * Insurance discounts can vary by state and by carrier.
The best part is
(1) You don’t have to switch insurance carriers.
(2) Local auto dealers charge $299-$499 for this same service (real price should be $25-$30)- What a ripoff! (Note dealers also charge $200-$1000 for replacement headlights when you can buy headlight cleaner and restorer for under $20).
(3) You can easily purchase it direct from the manufacturer below cost right through the internet!
Police departments, insurance companies, AAA Auto Club, Motor Week, Speedvision TV, and leading consumer groups and publications all recommend window etching as a strong theft deterrent and a great investment.
The top 10 most stolen autos:
1. Toyota Camry
2. Honda Accord
3. Oldsmobile Cutlass
4. Honda Civic
5. Jeep Cherokee
6. Chevrolet trucks
7. Toyota Corolla
8. Chevrolet Caprice
9. Ford Taurus
10. Ford trucks
Did you know that every 19 minutes a car is stolen in this country! Vehicles equipped with a visible theft deterrent system are 4 times less likely to be stolen. Auto etching uses a strong caustic to etch vin #'s and other registered numbers into your car windows (glass is the third most valuable item after plastic headlights and air bags that professional thieves look for - these items are then resold on Ebay and elsewhere by these thieves for quick cash). 95% of thefts are by professional car thieves.
Chemical auto etching is a safe process. No damage is done to the vehicle and it can be professionally done. It is very affordable as its actual costis 70 – 85% less than auto dealer’s charge and has many benefits:
1) It has been proven to enhances vehicle value at resale.
2) INSURANCE DISCOUNTS OF UP TO 35% OR MORE!*
3) No mechanical parts to break down or need repair.
4) SAVE MONEY AND HAVE PEACE OF MIND! – 9 out of 10 auto thefts are by professionals who will not take a car with traceable numbers.
One of the most cost effective security steps is having a security number etched on each window. Start saving big on your insurance today! Auto etch, like headlight cleaner and restorer, is a bonafide product backed and used by the police in every state. It is guaranteed to save you far more than it costs, has numerous benefits, And you can undercut the dealer and buy it without paying their ridiculous prices ($200-$600+)! For more information on Auto etch and/or similar products like headlight restoration kits contact the author below or look up auto etch on the internet. * Insurance discounts can vary by state and by carrier.
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