A history of heart disease won’t necessarily flatline your chances of obtaining life insurance at reasonable rates, insurance experts say, provided you have the condition under control and you’re following doctor’s orders.

Take “Jeff” for instance. Obese and a smoker, he needed a bypass and a couple stents to keep his arteries open. His doctor told him to lose 100 pounds and kick the habit if he wanted to live, relates his insurer, Ryan Pinney, a brokerage director with Pinney Insurance Center Inc. in Roseville, Calif. Jeff lost 140 pounds, stopped smoking and takes his cholesterol medicine faithfully.

“I was able to get him life insurance at a preferred rate,” Pinney says. “He’s healthier now than he was back then.” A preferred rate would cost around $60 for the same policy that would cost $100 at a standard rate, he says.

Dr. Robert Pokorski, chief medical strategist for The Hartford’s Individual Life Division, says in general, life insurance can be offered six months after bypass, angioplasty, or use of stents, usually at a small to moderate additional premium.

Whether one is insurable depends on the type and severity of the heart disease, their age, their lifestyle habits and if they’re healthy now, Pokorski says.

“For someone with congestive heart failure, it is nearly impossible to get insurance,” Pinney concedes. “The doctor is saying this person is going to die soon.”

Pokorski says children born with an atrial septal defect (hole between the upper chambers of the heart) could get insurance at the same premium as a healthy child because it is corrected via surgery. In the event the defect cannot be corrected, the child can still get life insurance, but the insurer would charge a higher premium.

He says higher premiums are usually required for adults with coronary heart disease as well. The premium would go up even more if the person is overweight, smokes or is a diabetic. Pinney says a standard $100 policy could now cost as much as $400 to $600 a month.

If you were turned down for life insurance in the past because of heart problems, Pokorski encourages you to try again as insurance companies are responding to medical advances. “The premium charged at the time you were accepted would be based on your risk going forward, not on your risk in the past,” he says.

Heart disease by the numbers

Although the death rate has dropped 29.2 percent from 1996 to 2006, heart disease continues to claim millions of American lives every year, according to the American Heart Association and Centers for Disease Control and Prevention. Here are some of the latest statistics.

 Heart disease is the No. 1 cause of death in the U.S.

26 percent of all 2.4 million deaths in the U.S. in 2006 were caused by cardiovascular disease. This comes to 1 in every 2.9 deaths.

Women make up 50 percent of the total number of deaths caused by a heart attack.

2,300 Americans die of cardiovascular disease every day.

470,000 Americans had a recurring heart attack in 2010.

631,636 of Americans died of heart disease in 2006.

785,000 of Americans had a new coronary heart attack in 2010.

7,235,000 inpatient cardiovascular disease operations and procedures were conducted in 2006.

In 2010, the estimated direct and indirect cots of cardiovascular disease and strokes in the U.S. was $316.4 billion.

Yet we still don’t take care of ourselves, according to the latest estimates.

18.3: Percent of U.S. women 18 and older who smoke.

23.1: Percent of men 18 and older who smoke.

33.6: Percent of U.S. adults ages 20 or older with hypertension from 2003 to 2006.

51: Percent of U.S. adults responding to a survey who said they do no vigorous activity or have an exercise routine.

66.3: Percent of U.S. adults 20 or older who are overweight or obese.

This article originally published on www.lifequotes.com.

Source by Life Quotes, Inc

Ready?  Here are the top four which make up 37% of the total workers’ compensation market in California.

State Compensation Fund
American Home Assurance – AIG
Zurich
Zenith

YOU BETTER KEEP READING –
Are you insured with any of these carriers?  Chances are at least some of you reading this are insured with these carriers.  They are all large, somewhat reputable, carriers but did you know NONE of these are usually the most competitive?  At least one of them has superior service.  Do you know which one that is?  These are the carriers that have the most market share.  That means 37% of businesses in California are insured with these carriers, over a third of California businesses.

The top three most competitive carriers only insure a total of 3.7% of the market.  Do you think you are insured with one of those?  Chances are that you are not.  Do you know who they are?

Statistics are great because they support what we tell our clients all the time – we can save you money 98% of the time.  We get prospective clients all the time asking us how we know we can save them money without knowing much about their business.  It is because we have been in business for twelve years and we just simply do. We could not offer our service with a zero cost factor if we could not perform.  The other reason and probably more important is that we save companies money because of statistics such as these, finding the 3.7% that have found the hot market is hard and rare, even if we do – there is still money on the table – we just can’t save them 50% but perhaps it is just 10%.  The rest of the businesses that are not aware of the availability of savings are jeopardizing their companies’ assets by over spending.  You do not have to spend more to get more.  You do not usually even have to change agents or carriers.  But, you do have to be open to the possibility that there is something better out there.

Here is another kicker for you.  This is just workers’ compensation.  Which is usually a heated discussion for most business owners, most pay more attention to this line of insurance – the property and liability insurance is a whole other issue where most businesses are over paying by even more.   You just don’t know it.  It pays to be knowledgeable.

Workers’ compensation rates are expected to go up in July, do you know where the hot markets will be then.

Now, let’s have some fun – take the poll below – is everyone reading this in the 3.7% somewhere in between or in the 37% group?  If you email me directly I will tell you if you are with the top 4 most competitive carriers.  

2007 statistics from the CDOI

Do you think you have found the most competitive workers comp carrier?(online surveys)

Source by Andrea Luoni

DeSoto County Supervisors, concerned about a local mental health care agency’s ability to handle a staggering caseload, will have a new mental health care provider in August – when the county’s contract with current provider Communicare expires.

Board of Supervisors President Bill Russell said the move to sign an agreement with Region IV Mental Health Services is a step in the right direction.

“We don’t want to disparage Communicare,” Russell said. “Communicare did what they could do. These people (Region IV) are a couple of steps beyond.”

Russell the new company will provide a “revolutionary approach” to mental health care for hundreds of DeSoto Countians at the same cost now provided by Communicare, which is approximately $200,000 a year.

“The is a really big deal,” Russell said.

DeSoto County is presently a part of the Region II mental health region as assigned by the Mississippi Department of Mental Health. Even though the county is not contiguous to the northeast Mississipi counties of Prentiss, Tippah, Tishomingo and Alcorn, DeSoto and all other 81 counties in Mississippi can direct their resources to the region in which they wish to belong.

Communicare, headquartered in Oxford, has been under contract with DeSoto County to provide mental health evaluations for DeSoto County jail inmates, juvenile offenders, individuals in a court-ordered drug program and those suffering from substance abuse issues for the past 15 years.

Russell said Region IV will be able to help provide badly needed follow-up care for hundreds of individuals who are not adequately having their mental health care needs met.

According to Russell, mental health care for inmates housed at the DeSoto County Jail will be also provided on a more accessible basis and, for the first time, case workers will be placed throughout the school system to help with the mental health care needs of young adolescent offenders.

DeSoto County Administrator Michael Garriga said the decision not to renew Communicare’s contract was not an easy one.

“I think what we’ve discovered is that Region IV provides a very progressive array of services,” Garriga said. “Typically what we have here in DeSoto County is general outpatient therapy. We have gotten so big we have so many specialty needs now.”

Garriga said lack of resources on the part of Communicare didn’t allow proper follow-up care.

“We just felt like DeSoto County’s needs weren’t addressed correctly,” Garriga said. “We’ve toured (Region IV) facilities and looked at the progressive mental health care they provide. We’ve had meetings with their leadership. Their levels of services are more intensive for individuals who don’t have private insurance to meet their health care needs. They (Region IV) try to take a more proactive approach with their case follow-up and making sure that the patients don’t get off their meds so there is not a revolving door with the patients.”

Garriga said the county will assist Region IV in finding a location to house their local clinic.

Even though the contract with Communicare ends in August, Garriga said Region 4 would begin full-time operations in DeSoto County on Oct. 1.

“There will be a transition period,” Garriga said. “We will try to find them a location so they can establish a client base. I think it’s a very positive step for the county.”

The larger issue involves housing and treating mental patients who have no other alternative than to be housed at the DeSoto County Jail.

On Monday, DeSoto County Sheriff Bill Rasco said there were 12 mental patients being housed in a separate wing of the jail.

Rasco is among those leading the effort to find a more suitable alternative for housing of mental patients other than at the overcrowded county jail and acknowledges that the jail is no place for mental patients.

Meanwhile, Communicare officials in Hernando said Monday they had not been made aware of the contract’s termination by their supervisors in Oxford.

Communicare staff, which include seven therapists and four case managers, currently see more than 800 people a month, down from 1,000 a month two months ago.

Many clients are referred elsewhere due to the heavy caseload.

Charlie Spearman, Sr., executive director of Region IV, said his agency looked forward to serving the mental health care needs of DeSoto County, especially those situations involving juveniles.

Region IV has a staff of 280 who serve the four-county region in northeast Mississippi. Spearman said his agency planned to fully staff the Hernando office in addition to operating an acute hospitalization program.

“We’ll also provide mental health care therapists to all the schools and case managers to act as a liaison between schools and parents,” Spearman said. “We’ll also do day treatment programs or two-hour pull-outs aimed at working with children with emotional and behavioral programs as referred principals and teachers.”

Spearman said those programs are aimed at preventing mental problems later in life.

“The sooner you can get to them the better off they’ll be,” Spearman said. “We start seeing children as young as 4.”

Spearman is hopeful the push in the state Legislature for regional crisis centers will be successful so that patients can be referred to those centers if needed.

“We know it will take a little time to get the office up and running,” he said. “We are very excited about the opportunity to serve the needs of the people in DeSoto County.”

Source by Health Insurance

If all of our neighbors would just drive even less, we’d get lower auto insurance rates.

And that could be in the process of happening. When Americans spend less time on the road, the frequency of auto accidents declines. And when auto accidents go down, so do claims on auto insurance. That gets the ball rolling: When auto insurance companies see their costs on claims declining steadily, they typically respond to market conditions by lowering their auto insurance quotes and, ultimately auto insurance rates in a bid to stay competitive. And voila!, we write smaller checks for our auto insurance premiums.

With run-away gas prices, Americans are already driving less. The Federal Highway Administration (FHWA) reported in May 2008 that Americans are driving at “historic lows.” The estimated “vehicle miles traveled,” or VMT, for March 2008 fell 4.3 percent compared to March 2007, making it the sharpest dip for any month since the FHWA began tracking traffic-volume trends in 1942. Want to follow driving trends? The FHWA publishes monthly “Traffic Volume Trends.”

When auto accident claims go down, auto insurance companies can usually respond fairly quickly. To adjust premiums, they must file new auto insurance rates with every state in which they operate. They can file new auto insurance rates any time they want to respond to market conditions, and many states offer a “file and use” system, where auto insurance companies can file new auto insurance rates and begin using them immediately without prior approval from the state insurance department. Some states even have a “use and file” system, so insurers can implement new auto insurance rates and then officially file them shortly thereafter. This way auto insurance companies can begin passing on savings (or increases) right away.

The nation’s largest auto insurance companies are the first to see trends in accidents and claims payments due to the sheer volume of their claims data. For example, State Farm, the nation’s largest auto insurance company, handles about 19 million auto insurance claims a year (that’s a little over 17 claims per minute, all day, every day).

Robert Passmore, Director of Personal Lines for Property Casualty Insurers Association of America (PCIAA), an industry trade group, says, “This is where you see competition kick in.” He notes that if you live in a state that requires “prior approval,” it would take a longer time to see rate reductions. That means Californians and New Yorkers could be tapping their toes waiting for auto insurance rate reductions while everyone else pockets savings.

Auto insurance companies also note that auto insurance rates have been holding steady or declining over the past few years anyway. For example, State Farm customers in all states have seen rate reductions between Jan. 1, 2004, and Dec. 31, 2007, and customers in 39 of those states saw double-digit percentage rate decreases. (State Farm policyholders in New Jersey got the biggest drop of 29.19 percent.)

Passmore cautions that other factors could offset the trend in reduced driving  specifically, medical costs from bodily injury claims, legal costs relating to claims disputes and repair costs that are, for now, rising faster than the rate at which auto accident claims are going down.

Darn those repair, medical and legal costs! If it weren’t for those, drivers could already be seeing lower auto insurance rates (as we sit at home). However, auto insurance companies generally agree that if we see significant auto accident reductions, lower auto insurance rates won’t be too far behind.

Perhaps at the $6-a-gallon mark?

Will reduced driving mean lower auto insurance rates?

Insure.com asked the nation’s top auto insurance companies whether high gas prices and reduced driving are translating to lower auto insurance rates yet. Here are their answers.

State Farm spokesperson Dick Luedke notes that State Farm auto insurance rates have been on the decline nationwide since 2004, but reduced auto accident claims are not yet leading directly to further auto insurance rate reductions: “Our actuaries look at claims data not just to see the recent past, but also to see what might change the future, like gas prices.”

Luedke says there’s no hard and fast rule as to what level of auto accident reduction would spark lower auto insurance rates, but says, “If we saw a reduction as big as 10 percent in accident frequency, we would have reacted long before that.”

Allstate spokesperson Kate Hollcraft says, “We have just recently seen a decline in automobile claim frequency and if this continues through the summer months, we would probably be able to attribute it to a rise in fuel costs.”

Progressive spokesperson Leah Knapp says, “We don’t speculate about future rate changes, but it would be accurate to say that we continuously review market and business conditions, including monitoring losses, so that we can ensure our policies are accurately priced everywhere we do business. When our analysis suggests our rates require adjustment, we may seek to either raise or lower rates accordingly.”

Nationwide Vice President & Policyholder, Standard Auto Product & Pricing, Larry Thursby, observes that “customers are having fewer accidents.” But he notes it’s been that way for a couple of years due to a variety of factors, like an aging population that becomes safer drivers, graduated licensing laws for teens and crackdowns in drunk driving. In addition, potential auto insurance rate reductions due to accident frequency are being offset by inflation in the usual suspects: medical and hospital costs, repair costs and legal costs.

Thursby says that Nationwide has been passing along cost savings by offering guaranteed renewability, lower surcharges and broader “forgiveness” for accidents, fender-benders and minor violations.

Source by Amy Danise

When you are an international student studying in the US, it can be a bit confusing with the new culture and possibly even a new language. Often the simplest things can be difficult to get the hang of. Things like car insurance can be a whole new challenge when you aren`t familiar with the process or the rules.

If you`ll be driving in the country you plan to study in, you will want to have car insurance. Most students are on a budget anyway and having to deal with the cost of an accident, no matter how minor is usually a big dent in the budget, particularly if you were at fault.

– Look for a car insurance provider that doesn’t penalize international students. Many companies will insist on a minimum of 3 years US driving experience in order to qualify for lower rates and higher coverage. Since the majority of international students have little or no experience driving in the States, they will end up paying more for less coverage. A very few insurance companies will count foreign driving experience and offer lower rates and deductibles.

– While liability is the minimum requirement by law, it`s a good idea to find out how much more you`ll pay for collision insurance, as well as comprehensive. Liability covers your passengers or property that you damage in an accident, collision will cover repairs to your vehicle if you crash, even if the accident was your fault. Comprehensive insurance is meant to help you recover your financial losses if the vehicle is stolen or destroyed by means other than a car accident.

– Keep the age of your vehicle in mind. Older cars usually aren`t worth insuring for anything more than liability, since you would be better off replacing the vehicle than repairing it in most cases. Newer cars will need to be insured for more since it`s usually far cheaper to repair them than buy a new vehicle. The general rule of thumb is that a car older than 1989 should carry liability only.

– Look for fixed rates. Some car insurance companies will let you sign up for 6 months or 12 months, where your rates will not go up, even if you have an accident during that time. Obviously, the longer the term, the better.

– Make sure you have an up-to-date international driver`s license. This will allow you to drive both in your home country and in the US. Most international students have no need for an American driver`s license, so an international one should be fine. Just be sure that it is good for at least six months after your stay ends so you`ll be able to get the best car insurance possible.

– Bring all paperwork that could be necessary with you when you apply for car insurance. You`ll need proof that you haven`t had an accident in the previous 18-36 months for the best rates. All driving related paperwork will help you out when applying for car insurance and can drastically cut the waiting time, as well, since you won`t be trying to get your papers from your home country.

Car insurance for international students might be a bit tricky, but it mainly comes down to doing some research to find which companies will give you a break, even if you haven`t been driving in the States for the past three years. The prices and amount of coverage should be fair and not hiked up just because you are only temporarily in the country.

Source by Amy Nutt

If it’s about saving money, we are all very much interested. But it’s important to remember that the lowest insurance rates are not necessarily the best. Never purchase car insurance from a company who offers ridiculously low rates. We should be aware that sometimes, these “discount offers” can be a trick and will cost you more in the long run. So here are a few of the legit car insurance discounts that you can rely on and be assured that are not concealing large amount of problems.

DEFENSIVE DRIVING DISCOUNT– It could also save you money if you let your teen take a DRIVER’S EDUCATION COURSE or learn from professional instructors as most insurers offer discounts for teens that have successfully completed this course and signed an agreement about safe driving style to avoid tickets. This course teaches you some driving techniques to avoid accidents. Auto insurance companies believe that this course helps you become more aware of what is happening on the road.

GOOD STUDENT DISCOUNT– The classic discount is the good student discount. Most auto insurers believe that good students make responsible drivers so they give 5-10% premium discount if your kid has grade point average of at least B, staying out of trouble, or if your child goes to college or university as this means that they are leaving home.

CAR INSURANCE FOR TEACHERS– A person’s occupation actually plays a much larger role in determining auto premium. Most auto insurance providers offer up to 30% discounts to teachers. This will save you hundreds of dollars each year. Teachers are eligible for auto insurance discounts because teachers are simply less likely to file a claim or be involved in a collision. Teachers are known to be patient, cautious, and often live near their workplace. Most auto insurance companies believe that teachers are great drivers.

LOYALTY DISCOUNT– This is if you’ve been with your auto insurance company for a long period of time, especially if you’ve been accident-free for a number of years.

AUTO INSURANCE FOR SENIOR CITIZENS– As we get older, the need, desire, and ability to drive a car often times begins to diminish. This less time spent on the car leads to a massive saving on your auto insurance premium.

MILITARY AUTO INSURANCE– Although the discount varies from company to company, it’s safe to say that all major auto insurance providers offer at least 15% discounts to show appreciation to these men and women who risk their lives everyday to protect the people at home and abroad.  Veterans and members of the Reserves are also eligible for the same discounts. These discounts can also be extended to cover the other drivers in your family, which can be crucial when you aren’t always home to deal with issues yourself.

MULTIPLE CAR DISCOUNTS– The cost of insuring two cars can be the same or less expensive as insuring one. The more cars you insure, the bigger discount you’ll get. Most companies give at least 25% discount when insuring multiple cars. Multiple discount can not only be attained if you have 2 or more cars but this can also be enjoyed if you’re covered by a family plan that covers your entire family e.g. you, your spouse, and your kids in your house who are at their driving age. Typically, companies will only provide coverage to your children until they get 25 so even if they’re still living with you when they reach 25, they already have to obtain their own individual policy.

The discount also varies depending on the make and model of your car.  You may contact your insurance company first before purchasing a new car to inquire about their multiple car discounts. You can also shop around to get the best deal possible.

SAFETY ADDITION DISCOUNTS– Adding more airbags or getting new brakes can be a great way to add safety features to your car. Auto insurance companies really like it when you take matters into your own hands and improve your safety. If you’ve made any safety additions to your car then you need to see if you can get credit for doing so. Let the insurance company know that you’re taking control.

DISCOUNTS FOR ECO-FRIENDLY VEHICLES– Hybrid drivers represent less of a claims risk to insurers, and they are consequently rewarded with lower premiums. When you examine the profile of hybrid drivers, it becomes clearer why insurers favor these drivers. Most of them have a higher level of education, married, between ages 41-60, and have higher levels of income. (71% of them earn more than $100, 000).

There are surely a lot of discounts that you can choose from. All you need to do is invest your time in getting as many auto insurance quotes as possible and compare them. It may be time-consuming, but absolutely something that you’ll be thankful you did once you or your loved-ones get into car trouble.

Source by 247 Auto Insurance Quotes

New York health insurance for the self-employed is geared toward people who work for themselves, or as sub-contractors, running an assortment of businesses and services in various industrial or service sectors. Often, these individuals make a modest income and have various health insurance needs; therefore, there is no specific self-employed health insurance coverage. Many of these entrepreneurs think outside the box, so having insurance coverage that meets their health insurance needs is extremely important, especially when their health care needs include family.

New York health insurance providers can offer self-employed individuals and small business owners a selection of health insurance coverage, which can be broken down to cover the following self-employed insurance situations. If you work as a self-employed one man/woman business, and don’t see your business growing and adding new employees in the future, a simple individual health insurance policy would probably work best. If you are working as a self-employed business owner that can see new employees added in the future, temporary health insurance coverage might be the best option for the present.

If you were a self-employed business owner who employs between two and fifty employees, you would benefit and qualify for a self-employment group health insurance plan. Although there are other situations, such as a business run by a husband and wife team, health insurance plan in New York can be tailored to suit the individual business owner’s exact requirements. As a self-employed individual, one of the main things to keep in mind is that health insurance coverage should never be considered after-the-fact. Unfortunately, as a self-employed individual, solely responsible for your own income source, if you happen to fall ill, have an accident, or cannot work for an extended period, you are not covered for health insurance coverage if you don’t purchase adequate low cost health insurance for self-employed people.

As with all states, in New York there are different health insurance laws governing small businesses and the self-employed; therefore, all small businesses are eligible to purchase New York small business health insurance. All New York insurance providers must offer the self-employed health insurance coverage with similar benefits to those provided in the small business insurance policies.

Source by blogster

The open enrollment period when you can sign up for a Medicare supplement insurance policy (more commonly known as a Medigap policy) lasts for only six months. If you forget to enroll during this time period, the insurance company may be able to charge you more, or may even refuse to cover you, based on your pre-existing health conditions.

Medigap Plans were set up to help you pay some of the expenses that are not covered by Medicare. These policies are sold by private insurance companies and are intended to supplement the Original Medicare Plan coverage. If you are in the Original Medicare Plan and you have a Medigap policy, then both your Medicare and your Medigap will pay their share of your covered health care expenses.

The benefits to having a Medigap policy include: Reduced out-of-pocket costs, Freedom to choose your own doctors, hospitals, and other health care providers, and Coverage for Medicare’s deductibles and co-payments.

If you are interested in purchasing a Medigap policy, the best time to do it is during your Medigap open enrollment period. Your open enrollment period lasts for six months and begins on the first day of the month in which you have reached age 65 or older and you enrolled in Medicare Part B.

From the moment you enroll in Part B, your Medigap open enrollment period begins and can not be changed. Within this six month period of open enrollment, insurance companies are not allowed to use medical underwriting. This is good news for anyone desiring to enroll in a Medigap plan. During this time an insurance company must sell you any Medigap policy they offer. The insurance company cannot make you wait for your coverage to begin and they can’t add extra charges because of any health problems, past or present.

It is important that you don’t procrastinate if you are going to enroll. While you are allowed to apply early, prior to when your Medicare Supplement open enrollment period starts, the rules change once your open enrollment period ends. If you are trying to apply after your open enrollment period, an insurance company is allowed to use medical underwriting to approve your coverage and to set the price for your policy. Also, once you are approved, you will likely have fewer choices.

Under certain specific situations, you still have the right to purchase Medigap insurance even when your open enrollment has expired. In these specific circumstances, guaranteed issue rights, or Medigap protections, are granted. If you fall in this category, insurance companies are required by law to offer you Medigap insurance and cannot exclude you because of existing health problems.

One other option you have is to enroll in a Medicare Advantage plan. Medicare Advantage Plans are health plan options (like HMOs and PPOs) approved by Medicare and run by private companies. These plans are part of the Medicare Program and are sometimes called “Part C” or “MA plans.” Medicare pays an amount for your care every month to these private health plans. Medicare Advantage Plans must follow rules set by Medicare. Medicare Advantage Plans are not supplemental insurance.

The best advice is to enroll in a Medicare Part B, and the Medigap plan of your choice, shortly after you turn 65. Then go enjoy your retirement years with peace of mind, knowing that you’re covered should any health problems arise.

Source by Wiley Long

Senior healthcare consultants (SHC) are one of the leading providers of supplementary health policies for senior citizens (age 65+).

They would distribute their products & services through independent agents. They have a history of generating excellent agents to help & guide the seniors in terms of the dynamic Medicare services.

They are known for interacting with the seniors & analyzing their specific needs to perfection. Senior Healthcare Consultants are real quick to ascertain the reasons associated with medical problems & suggest good remedies that go well with the mounting costs. Senior Healthcare Consultants also have to offer some lucrative opportunities that are well supported by their dynamic people & new age systems.

Senior Healthcare Consultants Customer support

Senior Healthcare Consultants promise to serve all customers with their utmost commitment & effectiveness:

The Presentation

The Senior Healthcare Consultants agent would visit you to deliver an informal presentation of the benefits that would come to you through their supplementary health programs.

The Selling Process

The Senior Healthcare Consultants agents would assure that by signing on the paper work you would still have a couple of weeks to decide on it. You would certainly feel at ease since you’re still not under any real obligation.

The Operation

They are always aimed at offering quality products through their 50-member team of Senior Healthcare consultants. Their job is to explain the benefits of their programs as well as the necessity of such products in your life.

Senior Healthcare Consultants are helping in spreading products which are of highest demand in the market. That is one good reason why the economic ups & downs are not affecting the earnings of late. Senior Healthcare Consultants are hoping to broaden up their customer-base by 3 times during the next decade. They are truly spreading their operations through out the United States in order to meet the current market demands. 

Source by Evan T Smith

There are three main options or ways to fund the Buy-Sell Agreement. I’m sure you won’t be surprised to find that most Buy-Sell Agreements are paid out using life insurance. In fact, the first two funding options deal with available options using life insurance:

1. The criss cross option
Under this option the life insurance is owned and paid for by the partner out of after tax income. In other words, life insurance are purchased and paid for by the partner or shareholder on each other’s life and the owners are the beneficiary. This is the primary and traditional method of structuring a buy-sell agreement and for sole proprietors and partners and it is the only option available for unincorporated businesses. Under the criss cross option, policies can be co-owned and paid for by split dollar arrangements.

2. Split dollar funding option
The second option to fund buy-sell agreement is split dollar funding option that is the pre-determined agreement between employer and employee on how to fund life insurance premiums. Split dollar funding became popular to fund several important functions.

a) Key man insurance and award.
b) Employee buy-out.
c) Corporate buy-sell agreements between shareholders and used as the incentive for a business to accommodate a split dollar buy-sell agreement
i) The premium payment creates unequal contributions due to extreme differences in the ages of the partners, or employees buy out the owner.
ii) If the employee is the son or daughter of the owner, it allows the siblings and heirs to be compensated in cash for their share of the business interest.
iii) It is particularly attractive in closely held corporations due to the lower corporate tax rate. This is not available to partners where the tax advantage is considerably less advantageous.

Whole life policy containing cash values is the best choice for life insurance used for buy-sell agreements.

3. Corporate repurchase and corporate redemption method
The third funding option for buy-sell agreements is the corporate repurchase or corporate redemption method. This is used solely by corporations, who may also use the criss-cross method. The corporate repurchase or corporate redemption method may be funded in one of two ways:

a) Cross-purchase agreement:
This technique is funded by tax free dividends. It provides for corporations:
i. To own the required amount of insurance on the lives of the shareholders.
ii. To pay the premiums.
iii. To be the named beneficiaries.

b) Corporate buy-back of shares.
Premiums of insurance are paid by the corporation.

I hope this information will help. If you need more information of the above subject, please visit my home page at:

Kyle J. Norton
http://lifeanddisabitityinsuranceunderwriter.blogspot.com/
http://businessinsurance15.blogspot.com/

http://medicaladvisorjournals.blogspot.com
All rights reserved. Any reproducing of this article must have all the links intact.

Source by Kyle J. Norton

Let’s look at why more life agents are prospecting with life insurance sales leads As a life insurance agent, your primary goal is to earn income from the sale of life insurance products to prospects who want your products. The key word is “want” your products.

Too many agents compile a list of potential customers and “chase” them with the idea of reviewing their personal or family insurance program. This method does create new customers by the sheer numbers of prospects approached. According to documented survey results, for every 100 prospects contacted to review their insurance or financial plan, only 1 new customer is gained.

The reason these prospecting numbers are so poor is because the majority of prospects in a compiled list, who fit your demographic target market, may not need to review their insurance programs for any number of reasons. Perhaps they already have an agent, or they just changed their program, or they just don’t want to review it. Whatever the reason, the majority of names on your compiled list of prospects will not do business with you.

On the other hand, if you choose to contact prospects who have demonstrated that they actually want what you have to sell, your prospecting numbers will look a lot different. For example, agents experienced in using life insurance sales leads as their prospects are usually generating 25 new customers for every 100 leads contacted. That’s a big difference compared to chasing a compiled list of prospects.

The reason for the production increase is the fact that insurance sales leads are individuals who have “raised their hands” and have requested an agent contact them to discuss life insurance. Instead of chasing prospects, the agent is helping prospects who “want” to talk about life insurance, for whatever reason. By using leads, you transform yourself from being a pesky salesman to an expert consultant.

In future articles, we’ll discuss the mechanics of how to work with life insurance sales leads to gain 25 new customers for every 100 leads contacted. You may also get tips on insurance sales leads at http://lifeinsurancesalesleadsguide

Source by John L Thomas

When searching for home and auto insurance, a consumer has many options as to who to do business with.  Television commercials and online advertisements abound in today’s society.  Everyone needs insurance, and insurance companies are battling for clients

In the world of insurance agents, there are two types of agents:  captive agents and independent agents.

Captive insurance agents represent one company and independent insurance agents represent multiple companies.  The largest and most well-known insurance companies (All State, Farmers, American Family) go only through their own “captive” agents.  Other well known but less known insurance companies (Met Life, Travelers, Hartford, Progressive, etc) go through independent insurance agents.

When you walk into an office of a captive insurance agent, he/she will quote you with the one company that they carry.  When you walk into an office of an independent insurance agent, he/she will shop all the companies that he/she represents and set you up with the company that matches you the best in terms of lowest rates and best coverages.

The insurance market is very complex.  When looking for a rate quote, there are numerous factors which these companies must consider.  Because some companies look at different factors in different ways, insurance rates can greatly vary for one person between different companies.

For example, let’s say that Suzie wants an auto insurance quote.  She has a pretty good driving record.  She has not had any major violations in the past few years.  Two years ago, when she was at college and would travel to her parents’ home and back on the weekends, she picked up two defective vehicle tickets.

The officer could have given her speeding tickets, but he reduced them down for her.

When Suzie went to get an insurance rate quote, she found that most insurance companies will give her higher insurance rates because of those two tickets.  She would have to pay hundreds of more dollars each year.   As her agent continued searching for her, he found an insurance company that would not rate her higher because of the tickets.  This particular company does not rate ‘defective vehicles’ as anything abnormal, thus though she had two tickets, she had access to the very lowest rates the company had to offer and she was able to save hundreds of dollars each year.

If Suzie had gone to an agent who was captive, he would have set her up with the one rate that he had to offer.  She would have missed out on the money that she was going to save.

The more proactive the insurance agent is, the more he can search for ways to save his clients money.  It is a good idea to not only seek an independent insurance agent, but a very proactive insurance agent.   Understanding the difference between these two types of insurance  agents can save you a lot of money on your insurance.   colorado insurance insurance

Source by Jared Ullrich

Ford hasn’t always had the best relationship with the United Autoworkers Union (UAW). Back in 2007, the company’s employee healthcare costs were eating up the carmaker’s meager profits. After posting quarter after quarter of disappointing earnings, stockholders were putting the big squeeze on America’s pioneer of the modern automobile. That was before economists noticed (or perhaps, acknowledged) that sub-prime mortgages were a bad thing.

To dig out from under its messy employee obligation to provide ongoing, long-term healthcare to its retirees, Ford reluctantly agreed to begin depositing cash into a trust fund that would be administered and operated by UAW once $6.5 billion piles up. By New Years’ Day, Ford had not only met the monetary benchmark, but exceeded it by another half-mil.

“The transfer of these health care liabilities to the VEBA trust is the culmination of several years of work and will significantly improve our competitiveness in the United States,” Ford CFO Lewis Booth said in a statement. “We also have shown confidence in our liquidity …by pre-paying $500 million of debt.”

At the time the arrangement was made, Ford’s public tone was far less positive when it came to its future outlook. Its cars were considered tired, quality suffered and continuous public spats between Henry Ford’s great grandchildren (who held controlling public interest and managed the company) and the stockholders were routinely covered in national headlines. Now the company has not only rebounded, refusing to accept any part of a public government bailout that its peers would later have to extend payment on, but Ford has become a trend-setter in automotive design. Can industry analysts expect the automaker to extend its leadership into the boardrooms of health insurers as well?

When a company or large organization becomes a self-insured entity, the company is assumed to have amassed enough financial liquidity to assume its own risk and the financial risk associated with its employees’ health insurance. In Ford’s case, the company accepted responsibility for its retiree’s healthcare in a long-term buy-out agreement so management could reduce its workforce quickly and stave off continued losses.

Traditionally, only public / government businesses had the financial pull and employee base to justify funding its own health insurance plan. But as planned federal healthcare reforms become law, self-insurance may be more common among smaller corporations and those not typically self-insured today. That’s because one of the most controversial provisions in the Senate’s health reform plan provides for broad new taxes on commercial insurance companies.

The nation’s biggest insurance companies unabashedly admit that such surcharges, fees and other new costs bourne out of the reform bill will be passed on to their customers. Some analysts say small and mid-sized businesses, already heavily stung by the economic meltdown and slow recovery, may take a look at alternative ways of offering insurance as a way of cutting costs, without eliminating the benefit altogether.

The self-insured movement is already taking hold, especially in sales-driven companies that have seen their profits plummet like Ford’s:

“In the last several years, our health maintenance organization (HMO) costs have increased rapidly even as our sales plateaued and we let some employees go,” writes one Indianapolis manufacturing CFO recently on his personal blog. “We switched to self- insurance with an associated stop-loss policy. We calculate that savings will be around $80,000 to $100,000 yearly. We also added wellness benefits and incentives to keep our 1,600 employees and their spouses healthy.”

With top lawmakers advocating that any healthcare reform that passes must include the ability for individuals and businesses to purchase insurance from across state lines and voluntarily pool together to get preferred rates on insurance plans, your next open enrollment period could very well include the option to keep your health insurance inside the confines of your cubicle walls.

Source by Michael Brewer

Recently to Anhui Wind Star car customers may have found, Anhui Wind Star recently launched a unique value-added Service – “Car insurance treasure” extended warranty. Consumption In the purchase of New car The same time, be able to buy a new car repair service contract, vehicle maintenance service contract shall Vehicle Start date of service, up to 48 months or 100,000 km / 120,000 km mileage.

Why consumers to buy “motor insurance treasure” extended warranty then? “Motor insurance treasure” extended warranty is a manufacturers warranty extension, is the protection after the manufacturer warranty. The vast number of consumers, the vehicles are high-end consumer goods, with the increase of the useful life of vehicles have problems and risks and costs increase. In many cases, vehicles are often the fault occurred in the past had emerged after the manufacturer warranty on the car this large consumer goods, consumers will have self-Cut Pocket To pay high maintenance costs. Take for instance major parts replacement, replacement of vehicles of different brands Engine Cost from 22,000 to 100,000 range; replacement Air conditioning Compressor The cost from 2,300 to 10,000; replacement Transmission The cost from 12,000 to 68,000 factory warranty ranging from … high maintenance costs caused consumers “affordable car repair can not afford cars,” the situation, the majority of vehicle owners can only hope that is not bad or other serious problems . With Toyota Camry and Reiz models, for example, if consumers buy the car of 6900 yuan Platinum Program, we can guarantee 48 months / 100,000 km mileage peace of mind driving, and maintenance costs prior to that inventory, whether cost-effective, consumers will have their own reckoning the answer. In addition, some car owners for the sake of a moment of cheap, non-formal maintenance point in the car repair, car repair can not guarantee the quality is not that easier to create the future Security Driving hazards, not worth the candle.

Extended warranty for the majority of consumers really what benefit it? Buy Anhui Wind Star’s “car insurance treasure” extended warranty service, consumers can easily enjoy: 1. Less costly: consumers buying the “car insurance treasure” extended warranty, the vehicle in normal Maintenance And all appear to use extended warranty services are the maintenance costs, repair parts and labor costs no matter how high, direct payments by the service contract, consumers do not have to pay extra maintenance costs; In addition, the warranty from the manufacturer of the first maximum reimbursement per day from 800 trailer fees. 2. More peace of mind: consumers of the problem, as long as a national customer service phone call, be authorized to confirm that they can go in any factory authorized repair station for maintenance, by the highly original strict Train And experienced professional technicians carry out maintenance on the car, so that owners of the maintenance process and the results are more at ease. 3. More choices: “car insurance Po” provides platinum, gold, silver of the three schemes, the three planned maintenance of vehicles in different areas, with different fees. Consumers can type and the actual car by car to choose the most appropriate extension of the scheme itself, which will warranty the consumer rights and choice in their own hands. 4. More hedge: “car insurance treasure” can be attendant transfer, if consumers in the extended warranty sale of the vehicle changed hands, this vehicle will be higher than the market price of similar Used Cars The price of the vehicle can play a role in preservation, and has extended warranty vehicle sold for less time. By the CGA Group subsidiary Anhui Wind Star exclusive launch of the “car insurance treasure” extended warranty service to solve your worries, not only save substantial maintenance costs, but also enjoy the professional Vehicle Maintenance Station to provide maintenance services, protect the interests of consumers, while making regular maintenance resources are effectively and fully utilized, can be described best of both worlds.

Extended warranty now in China is still a new concept, in fact, extend the warranty in Europe and the United States has a history of more than 40 years, extended the concept of security has gained recognition abroad. Foreign automobile extended warranty insurance rates about 60%, many car buyers to purchase new vehicles will also take the initiative to purchase vehicles to extend the warranty. Buy extended warranty has become a lot of foreign consumer habits into the daily consumption, retail sale from the roadside Bread Machine to the car dealer sell the car, will sell the hardware at the same time provide extended warranty service. China’s consumer market, consumers over the years is the formation of stereotype: warranty service should be free of charge. In fact, there are all of the manufacturers warranty costs, the longer the warranty period, the higher the cost. Manufacturers in the sale of hardware products, has all of the costs are the costs into the hardware. Consumers to buy hardware with a longer warranty period, the actual consumption in hard. From this perspective, the introduction of extended warranty is the warranty services, the actual consumption of power returned to the consumers, by consumers themselves to make a decision.

Source by vivi

Construction sites are one of the most dangerous places available and different harms are present. With just one wrong move, you can expect different accidents to happen that can provide you with tons of damages that you will need to pay for.

One solution for this problem will be to acquire a construction liability insurance which insures you whenever any accidents occur that result to the damage of properties and the acquisition of certain injuries.

With comprehensive liability insurance for construction, coverage is at a much wider scope since it will include tenants, sole proprietors, organizations, and business partners. Most of the times, mortgage companies will require contractors to present a certificate of a construction insurance before they are allowed to remodel or even repair homes that is why a liability insurance is of great importance.

A sufficient amount of construction liability is usually purchased by a contractor so that they can easily pay residential and commercial properties whenever they inflict damages. Subcontractors on the other hand are already required to have their own liability insurance which should exempt the general contractor from the damages that have been caused by hired construction helpers.

The amount of the coverage of the insurance you will be purchasing should depend mainly on the size of the construction project you will be contracting. This means if you are specializing in large commercial construction projects, you might consider buying an insurance that is worth millions.

Insurance for construction liability is definitely important as accidents and damages can be easily acquired in most construction sites. Through acquiring the right construction insurance for your project, your project will be a lot safer and more efficient.

Source by littlecg123

Due to the ever growing inflation, people have started saving money on everything. They have even neglected the benefits of health insurance and not invested in it. What they ignore is that now affordable individual health insurance is available and many are taking its advantage.

The insurance plans are not just affordable, but you can actually save money by getting your health insured. If you have joined some health insurance, only use a doctor’s service who works for your plan.

You must go for all the tax deductions suggested on the health insurance. All the health insurance premiums would be deducted from a self employed person and for the people in employer-based policy; the portion they pay for health insurance payment would be deducted.

Always consider the long term effects of you insurance plans. The plans with less insurance premium and more up-front expenses would get expensive in the long run.

Only go for an emergency room when it is really an urgent case. The co-pay for the emergency case is much more than usual appointment.

The rates for an employer or an organization based group health insurance are comparatively lesser. You might want to take these to get an affordable individual health insurance. You can save money on the taxable income by asking your employer to pay for the premium. This would reduce your payment on taxable total pay.

You can also use the online pharmacies to save money on the prescription medication of health insurance. The online pharmacies supply medicines for 90 days, unlike the conventional pharmacies which only supply for 30 days for the same amount.

Source by Alan Lim

A common business use of term life insurance has been the buy sell agreement. It’s especially useful in small businesses or partnerships where the death of one person can significantly affect the continuing functioning of the business at hand. Let’s look at the buy sell agreement and how affordable term life rates address the underlying insurance need in such as scenario.

Let’s face it…one of the few ways to get ahead in the U.S. is to start your own small business. The average size of companies in the U.S. is between 3-5 people. The big headlines may be for large corporations (and recently, their layoffs) but the engine of this country is small business. The two or three person corporation, partnership, or LLC is very common especially for younger companies. In such a company, each partner typically has to wear many hats and the the loss of any partner would significantly affect the ability of the company to remain an ongoing concern. There’s also the contractual obligations and contracts that bind the partners together in the first place. What happens if one partner passes away.

This is where buy sell comes into play. Essentially a buy sell agreement is between the partners or owners of the company. It states that if one person passes away, the other person will buy out their stake in the company. Since this can be large sums of money, the best way to do this is with life insurance. Term life insurance is so inexpensive that it provides a simple and effective means to providing the cash needed so that the surviving partner can buy out the deceased partner’s share of the company. In this case, the beneficiary of the term life policy would be the other partner. It’s important with life insurance to have an insurable interest. This means that you have some vested interest in another person. The partnership or company ownership establishes this interest.

The reason for a buy-sell is pretty obvious. Let’s take an example. Let’s say that two partners have opened a company together. It’s a straight partnership with 50/50 ownership. They both put in $75K each to start the company which was a large investment for both individuals. The unforeseen happens and one partner passes away. Now what? Most partnership contracts and/or incorporation papers deal with what happens when one partner no longer wants to participate or passes away. It usually involves the other partner(s) “buying out” the shares of the leaving or deceased partner. At a minimum, the surviving partner above must now come up with another $75K. He/she may not have this amount or coming up with this amount of money suddenly will put a severe financial burden on him/her. Or worse yet, what if the person cannot come up with the $75K? There may be surviving family members who require that the contract be fulfilled and the deceased partner’s share be purchased with the money going to the surviving family or the deceased’s estate.

It’s best to avoid these issues altogether with a simple buy sell agreement based on term life insurance. Term is cheap life insurance so it makes it very easy to these issues. You can look at term life insurance on an individual basis and even as a small group (business term life insurance). The latter may offer better rates and more flexible underwriting requirements. We would be happy to run both options to see what makes the most sense. You can request this service with our fast life insurance quote form.

Source by Dennis Jarvis

If you own a daycare facility then you will require daycare insurance. Your home daycare insurance will provide cover against any kind of property damage or even physical injury caused to the children within the premises of your daycare facility. The home daycare insurance policies are different for licensed facility and unlicensed facility.

If you are operating an unlicensed facility, then in all probability, your homeowner policy will not provide coverage for your daycare facility. There are several insurance companies who include the option of providing selective or limited home daycare insurance within a homeowners or condominium insurance policy without any extra premium while there are others who will charge you additional premium for the same. Before you look for insurance, check with company who has provided you with homeowners insurance and find out if they are providing daycare cover under the current policy.

On the other hand, if you are operating from a licensed facility then you will have to purchase a business policy that will provide the required coverage for your daycare facility. One of the important reasons why you should go for a separate policy is because not all the policies provide child abuse coverage.

Types of Home Daycare Insurance

There are basically three types of liability policy and they are:

1. Homeowner Insurance or renters insurance: These policies will provide you coverage for childcare within the premises but no child abuse coverage.

2. General liability insurance policy: This insurance policy will provide coverage for childcare in the premises or the facility and also cover field trips as well as child abuse at no extra cost.
3. Professional Liability/Errors and Omissions insurance: This policy will provide you with the maximum coverage possible within a home daycare insurance policy. Apart from the standard or general coverage, this insurance will provide coverage for negligence in child care. Some of the aspects covered under this policy include:

1. Anywhere between $50,000 and $100,000 for child abuse
2. Personal injury
3. Accidents in the swimming pool on the premises and even off the premises
4. Field trips
5. Auto liability related to transportation for the children
6. Medical expenses due to accidents can be anywhere from $5,000 to $20,000 per child
7. Accidental death on premises

The home daycare insurance will also cover legal costs if parents sued you on the basis of injury or sickness caused to their child. One of the important things that you need to be aware of is the insuring forms. There are two types of insuring forms: an occurrence form and claims made forms. It is always advisable to choose the occurrence form as it will cover a claim that is reported even after your policy expires.

The bottom line is that daycare insurance is essential to protect your business and your own interest.

Source by Christine Groth

What is COLOSSUS? The name sounds ominous, like something you should stay away from. This is the name of the computer program used by part of the insurance industry to systemize and minimize the amount of the settlement on your personal injury case. COLOSSUS is the program used by Allstate Insurance Company. TEACH is the State Farm version.

Almost all insurance companies use a computer program. Thi program is used for the purpose of helping the insurance company their money. This is done by having uniform settlements with the data to support it. This is so they don’t get sued for bad faith. The insurance adjuster simply enters the data into the program. The program gives the adjuster a range that a case can be settled in. An attorney, by making sure all the data is given to the adjuster and outlining that data, can ensure that these numbers are as high as possible.

Settling an auto accident ase is much more difficult now than it was in th 1980’s. The facts of the case and the injuries involved would be evaluated by an adjuster using their experience, training, education and common sense. The accident was discussed between the adjuster and the attorney. An offer was usually made that was three times the specials (the total of medical bills and lost wages).

In the late 1980’s to early 1990’s the insurance industry retained a consulting firm by the name of the McKinsey Corporation, to review the claims evaluation and payment procedure. The three major insurance companies all developed separate computer programs with the purpose of making their claims department more profitable. Around this time a small technology firm in Australia created a computer program called COLOSSUS.

The insurance industry purchased the program and has used it in the payment of claims, to reduce the amount paid on claims and to increase profits. McKinsey approved of this and was retained by each insurance company to set the values of COLOSSUS, which ultimately determines the value of the offers made on automobile accident cases.

More than 50% of the insurance industry uses COLOSSUS to evaluate automobile accident claims. COLOSSUS gives less credibility to the so called soft tissue claims or non-demonstrable injuries. There is a bias toward these injuries being faked or considered malingering. This is because of the subjective nature of these complaints. A demonstrable injury, like a broken arm, is deemed more credible by the program. The information the program considers is determined by the insurance company. Not me. Not you.

Most insurance companies are using programs similar to COLOSSUS as well as COLOSSUS as a means to determine the value on claims made by auto accident victims. The days of meeting with an adjuster and discussing a claim and coming up with a fair settlement value are over. Computer programs are used to make the value of the claims lower and equal across the board. These computer programs have over 10,000 potential entries for any single case. These entries include doctors, treatments, diagnosis, employment and medications. The list goes on. They look at personal information. They even look at the geographic area where the case would go to trial. The reason they look at the area is that some counties in Kentucky have histories of giving bigger awards than others. Your settlement will be affected by this.

Each insurance company has its own protocol for the information that is entered into the COLOSSUS program by the insurance adjuster. The attorney must assist COLOSSUS in reaching an adequate assessment of the claim by providing as much data or information as possible to the insurance adjuster. That is another reason why it is vital your attorney has all the facts and details available on your case. This will help increase the odds of you achieving a fair and reasonable settlement.

Life Insurance Settlement. Over the years I have paid many a claim upon the death of my clients. Everything always goes smoothly for me in these cases. The carrier usually wants proof of death and they also want to be assured that the beneficiary is who s/he claims to be. When a beneficiary calls to let me know of the death of an insured I always try to make it to the funeral. I also set up an appointment to help them get paid as quickly as possible. I advise them of the requirements of the life insurance company at that point.

To make certain that I don’t miss anything I confirm everything with the claims department of the company before I go on the appointment. I then advise them that I will call from the beneficiaries home or place of business to to make certain all will goes well. As long as all the requirements are met the proceeds will be paid in a very short period of time. Most of my time on the field I was with the Northwestern Mutual Life Insurance Company, now Northwestern Mutual Financial Network. Because they are so thorough at the time of application for the policy when the time comes to pay it takes about one week.

There are several choices an insured has when it comes to the payment of proceeds.

One Lump Sum

More often than not the proceeds of the policy is paid in one lump sum. If the policy is small that is fine. When the policy is for a large amount I don’t recommend payment in this manner. It is much better to provide an income rather than a lump sum. Income can be paid in many different ways. There are many options.

Interest Income Option

Putting a large sum of money into the hands of one who is not used to handling large sums can result in waste. As a result the intentions of the insured goes for naught. His or her plan is not achieved. The beneficiary of the policy can leave the principal with the company just taking the interest earned at intervals. The principal remains in tact until you decide to take it.

Fixed Amount Income Option

The beneficiary has the option of taking the money in the form of a fixed income. The insured can stipulate that this is how it should be paid or s/he can leave that up to those who receive the money. S/he may say, “pay out $x per month to my family, named person or persons, until the proceeds are exhausted”. The actual amount paid is usually considerably more than the lump sum death benefit itself.

Fixed Period Income

This option is similar to the fixed amount option in that the amount paid out is the same. You say to the life insurance company – “pay this money to them in equal amounts over the next 10 years”, for example.

Life Income Option

Some people may choose to have life insurance proceeds paid in life income form. This is particularly effective when dealing with large amounts. There are several life income options.

You can have income paid for life but when the beneficiary dies no more income is paid. This is a way of providing the largest life income but I see it as a gamble. I much prefer to have the beneficiary take an income for life but with a certain, or guaranteed period. Let us say the person receiving the income wants a life income 20 years certain. The income will be paid for as long as the beneficiary lives but if s/he dies after 5 years, for example, the income still must be paid out to an heir for an additional 15 years. 20 years certain was an example you may choose 5 years, 10 years, or 15 years certain.

More details: Life”>http://www.lifeinsurancehub.net/LifeInsuranceSettlement.html”>Life Insurance Settlement

Source by Donald Lusan