Almost everyone who has insurances has heard about free insurance quotes. These quotes are typically offered by an insurance company to its potential member prior to registration. These quotes should be considered first before you purchase the insurance.

Generally, the purpose of free insurance quotes is to give you information about the benefit covered by the insurance. Without proper knowledge about this coverage, you may not get the most out of your insurance coverage. For instance, your employee had filed a lawsuit against your company for negligence. In the end, your company will end up bankrupt. Hence, assuring that your insurance covers all possible future loss is very crucial and this can be achieved through free quotes.

Obviously, these free quotes can be acquired without a cost. Hence, there is no risk if you get one. With this knowledge, you can take advantages of these quotes to ease your mind about a particular insurance company. Free insurance quotes are a friend that you should be familiarized with.

Free insurance quotes do not force you to purchase a certain insurance coverage. It rather gives advices so that you can choose a certain insurance coverage that will suit your business and/or family much quicker and easier. The free insurance quotes also give you a peace of mind that the insurance you choose is the best choice for you and your family.

Everyone knows that insurance company offers different kinds of coverage with different rates. With this information, finding the right insurance company for you can be a little bit of a hassle. With the introduction of free insurance quotes, things are now different from before. Finding the right insurance company has become much convenient unlike in the past. With free insurance quotes, you may compare different insurance coverage and their price, saving you much time and effort. In addition, you can reduce your time and effort spend on searching for the insurance company that best fits you if you take free insurance quotes online and in multiple.

Furthermore, the free insurance quotes give you idea of the possible insurance coverage that best suits your budget. As you gather more quotes, you will find possible ways to save up on premium insurance. Keep in mind that insurance companies compete to attract more costumers. In order to do so, they offer different discounts now and then. So, read as much free insurance quotes as you can so that you can make a well-informed decision.

Life insurance policy provisions. Most of us tend not to pay sufficient attention to the details of a life insurance policy until someone dies or until we are in dire need of some cash. The thinking goes something like this. My husband is dead, he did mention that he had some life insurance, I wonder how much? I do need some cash, how does the insurance company pay out the policy proceeds? Was I named as beneficiary or were our children named? These are just a few of the questions that may come to mind. Let us find out what your policy does in this type of situation.

The Policy Contract

One of the most important provisions of your life insurance policy is the contract itself. This states that upon the death of the insured a certain sum will be paid to a named beneficiary. In family situations the proceeds are usually paid to the spouse or adult child. In business situations the death benefit will be payable to the business itself, a partner or shareholders. This sum of money can be paid in one lump sum or in income form.

Another important contractual agreement is the incontestability clause which simply states that if, for example, you give the life insurance company any false information they have the right to withdraw the policy or contest it upon death. There is a limited period in which this policy can be contested, usually 2 years.

This incontestability clause also applies to suicide as well. If an applicant buys a policy with the express intent of committing suicide they can forget about it. If suicide is committed within the contestability period the amount paid will be limited to premiums paid plus interest. If suicide occurs after the contestability period, usually 2 years, the life insurance company will pay the full sum.

Another provision in your policy worth your consideration is the misstatement of age clause. If you misstate your age on your application form the amount paid upon death will be limited to the amount of coverage your premium would have bought at the correct age.

Ownership Of The Document

The owner of the life insurance policy is usually the applicant even if the coverage is on another persons life. A parent would own a policy on a child, a spouse may own a policy on his or her partner, a business may own insurance on a partner, shareholder or employee. Whenever the insured is of age, is not a minor, this person must approve of the policy being purchased on his or her life. This insured must complete the medical part of the application and sign it.

Premium Payment And Reinstatement

The owner of the policy is required to pay the premiums at the required time whether it be monthly, quarterly, semi-annually or yearly. Failure to do so will put the policy in a state of lapse after 31 days. If premiums are paid annually, for example, and the insured should die after one month the beneficiary will receive the balance of the years premium together with the face amount of the policy.

If the policy goes into a state of lapse it may be reinstated by paying the missed premiums or by redating the policy. If the owner chooses to redate s/he should be aware that this action may put him or her into a higher premium rate as s/he will be older. The company may also require a medical exam in order to put the life insurance policy back in force.

Beneficiaries

There are 3 levels of beneficiaries in your life insurance policy. First there is the primary beneficiary. This is the person to whom the proceeds of the policy will be paid. If the primary beneficiary should die before the insured and if the insured has not changed or named someone else as beneficiary before his or her death the benefits will be paid to a named contingent beneficiary.

As a safety net you also can name what is commonly referred to as further payees. In other words, if the primary beneficiary as well as the contingent should die before the insured the proceeds would go to further payees, as per the contract.

These general policy provisions may apply to all life insurance policies. If, however, your policy is a permanent one there are additional provisions that would apply.

Want to learn more? Go to: http://www.lifeinsurancehub.net/lifeinsurance-1.html

Source by Donald Lusan

Getting family or individual healthcare coverage can be scary if you are one of those who have always been insured by their company’s coverage. Below is you will find a tested procedure insurance agents use to help their clients find the right policy for their needs.

The 3 insurance aspects to focus on are price, coverage and the strength of the carrier.

Company- Your medical care insurance company should be strong financially and so you know that they have the money to pay your healthcare bills.

Quality of cover – The healthcare cover must cover you well. It should cover physicians, hospitals, labs and prescriptions. It should also have medical professionals and hospitals in their networks that are convenient to you.

Price- Your medical plan must be priced fairly relative to the benefits provided.

The basic procedure we use is to:

Determine which individual or family medical companies are worthy of being considered.

Determine which insurance plans offered by those health companies offer good coverage

Determine which policies have the best monthly cost relative to the healthcare insurance benefits provided

Health Insurance Companies

An individual healthcare insurance carrier should have good AM Best ratings and be in good standing with your state’s insurance department. You may also want to do a Yahoo! search for complaints.

You might search for “Mega Life and Health complaints” before completing an application with that or any other company. Every health care insurance carrier has some unhappy customers just by virtue of the volume of clients they have. However, a be warned if the complaints are too numerous.

One more thing to be concerned with is how much they pay in benefits as a percentage of the premium they take in. A quality company will spend about 80% of the money they take in to pay for their clients’ healthcare procedures.

Coverage – What does your medical care insurance plan pay for?

There are two important aspects of health care cover. One is the procedures that they pay for. The other is the network’s list of medical professionals that the insurance coverage includes.

Covered Healthcare Procedures

Your healthcare policy should cover you well and the hospital and should have a good lifetime maximum benefit. I suggest at least five million in insurance. You should read through your insurance plan’s outline of coverage or official brochure to see how doctors, hospitals and medicines are covered.

Health Care Insurance Exclusions and Limitations

Most if not all health insurance plans will have a list of procedures and services that are not covered. Most of the items in this section are reasonable and are included in the contracts of other companies also. Insurance plans typically will not cover cosmetic surgery for example. However, there are often exclusions that you might discover in one carrier’s plan but not in another plan. Pregnancy cover is one example of this. Generally insurance policies will not cover the costs of a normal pregnancy. The ones that do usually cost more when compared to otherwise similar policies that don’t pay for pregnancy. The exclusions and limitations section of your policy or its brochure should be read carefully before you commit to purchasing any healthcare insurance plan.

medical Insurance Provider Lists

Knowing which physicians are in your medical insurance coverage’s network is important for obvious reasons. You might be able to find a list of doctor’s who accept a given insurance plan online or by calling your medical insurance broker.

Premiums – Finding the best affordable medical policy

It is easy to compare individual medical care insurance premiums, but it is more difficult to make sure you’re getting good coverage for your dollars.

Comparing Health Care Insurance Plans

Not until you have crossed out the policies on your list that have poor benefits and/or a lousy list of medical professionals should you start comparing the prices of the policies

The Best Medical Care Insurance Coverage for the Money

The right medical insurance protection when an average person is considered, may not be the best plan for you. Often the best coverage is overpriced and does not offer coverage that justifies the extra that it costs. Make sure that any plan you decide to own is:

Provided by a good medical insurer

Will cover your health needs well

Is affordable

Source by Alston Balkcom

Insurance products often play a crucial role in the business process of small business establishments. Actually small businesses with their lack of large fund and comparatively lesser exposure to bigger markets are more prone to risks. Whether in respect of manpower or in relation to property they are vulnerable to higher risks and often burgeoning liabilities. These aspects altogether pose greater risk for the whole business process. In the growing number of startups and small business establishment that continued to grow at a rapid speed, business insurance products are likely to find far bigger audience. Let us have a quick look at some specific solutions with which business insurance brokers can help small business with.

General liability insurance

This type of insurance policy covers damage done to the owner, employees, business products, raw materials or any third party products or personnel. There is hardly any small business house that does not need such cover to stay clear of the financial risk involved in such damage.

Property insurance

It is the second most important insurance required by any business. Property refers to the real estate, equipment, inventory or tools, office furniture and equipments, etc. This policy typically covers these business properties from incidents like fire, smoke, theft, vandalism, etc. For any small business destruction of property can lead to irremediable loss or disastrous consequences for the business and so they need this insurance most.

Insurance for the business owner

The life, safety and well-being of the owner of a small business are most crucial for the continuation of the business process and this insurance with a bundle of coverage for the owner protects the business. Typically, this insurance includes business interruption insurance, property insurance, vehicle insurance, liability insurance and crime insurance.

Commercial automobile insurance

This type of insurance covers the commercial vehicles owned by a company or business. From goods carrying trucks to cars and vehicles for transportation of employees, all types of vehicles owned by the business and used for commercial purposes come under this insurance coverage.

Worker’s compensation

This is an insurance that helps provide compensation to the employees injured in the workplace. The insurance coverage includes wage for the absent period during recovery and medical compensation. By agreeing to the coverage of this insurance, an employee actually leave his legal right to sue the employer for the injury he suffered.

Professional liability insurance

This type of insurance covers the liabilities caused by business process errors or faulty service or breach of contract or any amount of incorrect professional service that have been unappreciated on the part of customer or receiver of the service. It is different from the general liability insurance in this regard that here shortcoming in professional service is insured to provide customer peace of mind against the money spent on their desired service.

Key personnel insurance

Every small business irrevocably depends on the decision makers sitting at the helm of the business or key professionals whose technical collaboration proves to be invaluable for the company. Insurance protection against these crucial people is a part and parcel of business insurance coverage. This insurance is commonly called as key personnel insurance.

Source by Danny Marcott

The agency contract will spell out clearly the express authority, which is granted to an insurance professional by the insurance company.  The agency relationship, which binds the insurance company, can also be created by using implied authority, apparent authority and ratification.

Express Authority

This type of authority is the simplest to understand because it is specifically spelled out under the agency contract and granted to the insurance agent.  An example would be giving the insurance agent authority to describe appropriate coverages.

Not many legal questions arise in regard to express authority. This type of authority is easily identified from the terms of the agency contract.

Implied Authority

One enters into the “gray” area of agency law when dealing with implied authority.  An agent has authority to act on the insurance company’s behalf when he/she reasonably believes that such authority has been given.  For example, the insurance company cannot possible list out all details of the express authority given to the agent.  Thus, implied authority is evident.  This authority is granted by the insurance company to the agent but is not written in the contract.  Probably the best example of implied authority is the use of a conditional receipt.  When the agent accepts a check from an applicant for insurance, he/she is binding the carrier to make every effort, within reason, to insure the applicant.

Apparent Authority

This authority creates a legal minefield for both the agent and the insurance company.  The best way to explain the abuse of apparent authority is to use an illustration.

Agent Herb works for the Prairie Mutual Life Insurance Company for four months.  Due to lack of production, agent Herb’s contract is terminated.  Agent Herb keeps all company materials.  Agent Herb sells a policy to Hal.  Hal relies on the apparent authority placed in Herb by Prairie Mutual.

Ratification

At times, insurance professionals sell products which they are not licensed to sell.  In these situations, the insurance company is not obligated to honor the insurance professional’s acts.  However, if the company does issue the policy, this is called ratification.  Ratification is simply the validation of an unauthorized act.

Ratification needs five elements:

1.   The person (insurance professional) who performed the act must have purported to act on behalf of the principal   (the insurance company).

2.   The insurance professional must have represented himself/herself as an agent of the insurance company.

3.   The client must have believed he/she was dealing with an authorized agent of the insurance company.

4.   Only the principal in whose name the action was taken can ratify the agents action.

5.   The principal must ratify the entire transaction not just parts.

Four Legal Implications of Agency

The agency contract between an agent and an insurance company includes four legal implications.

1.    The agent represents the interests of the insurance company.  This means that the   agent’s legal responsibility and obligation are to the insurance company not to a potential client.  We will discuss these agent obligations a bit later.

2.   The agent is given power to act on behalf of the insurance company.  The agent can create legal liability for the insurance company under the insurance contract.

3.   The acts of the insurance agent are considered acts of the insurance company.  When a debit agent collects premiums, this is considered collection by the insurance company.

4.   Knowledge of the insurance agent is considered to be knowledge of the insurance company.  If the agent has knowledge of health matters pertinent to the issuance of insurance, it is assumed that this information is also available to the carrier.

New Hampshire Insurance Continuing Education

Insurance Continuing Education

Source by edward hulse

If you are in the process of purchasing your first home in New Jersey, it is important to educate yourself on homeowners insurance before you are about to close escrow. While you have found the perfect home and a lender to provide you with the capital to purchase the home, you have yet to bind homeowner insurance New Jersey. By comparing coverage options and educating yourself on what exactly New Jersey homeowners’ insurance covers, you will be able to find an affordable policy that provides you with peace of mind and comprehensive coverage. Because purchasing a home is perhaps the largest investment you will make in your lifetime, you must take proactive steps to ensure the investment is protected against common perils.

Mortgage lenders will require borrowers to bind fire insurance at the least. While most lenders only require traditional homeowners insurance, some will also require borrowers to bind flood insurance if they are found to be in a flood zone. It is important to research what type of insurance policies you are required to carry before your close of escrow approaches.

Dwelling coverage is the only coverage within your homeowner insurance New Jersey policy that will concern the lender. You will need to inquire what dwelling limits the lender requires you to carry. While you are allowed to carry higher than the required limits, lenders will not approve coverage that is lower than what the lender requests. Dwelling limits on your home insurance policy are designed to pay to rebuild or repair your property in the event of a covered loss. Covered losses include fire, theft vandalism, smoke damage, windstorm damage, and hailstorms.

Borrowers should consult a local contractor to determine an adequate amount of coverage based on the square footage and quality of the property. The dwelling coverage does not include the value of the land because the land cannot be destroyed, therefore your insurance coverage will not technically match your loan amount. In some circumstances, home insurance companies will offer extended replacement cost coverage that will provide additional amount coverage to factor in inflation of costs of services and building materials. Consult your lender to determine whether or not you are required to choose an insurance provider who includes extended replacement cost within the contract.

Buying a home can be a stressful situation if you do not walk into the process prepared. Dot all of your Is and cross all of your Ts so that your loan closing can be as seamless as possible. By receiving quotes from multiple insurance companies and receiving insurance advice from licensed agents in New Jersey, you can obtain the knowledge you need to build a comprehensive policy that covers your home and satisfies your lender.

Source by Brenda Fullwerth

Health insurance confuses most of us—oh ya!  We are lost between not having enough of the right information, having too much differing information, and not understanding the information we have.  What do I need?  What can I afford?  Will I be covered in case of…?  Where to turn?  Help is at hand through your independent insurance agent, he or she has the experience to help.

For example, Blue Advantage, a PPO, allows you to pick a doctor, hospital, and specialist in your area.  You decide who you want for regular health management, and who will provide care should a serious health care issue arise.  Benefits and deductibles are offered in variable options to suit individual situations.  A network team is available with online resources and to assist in health management for chronic health problems.  This plan offers the most flexibility, including individual coverage for a child.  Blue Options has decidedly lower premiums and allows the holder to combine a high deductable with an individual health support plan.  You are covered for major medical, and preventative care costs are covered 100%.  These are critical matters for everyone, so contact an independent insurance agent for guidelines and considerations for these and other plans.

Your agent will be familiar with all the factors you need to weigh.  Some issues to evaluate are where you are in respect to life style, age, health, family, employment, retirement, and of course budget.  Your agent will help you compare plans, options, and benefits.

A review of the terms will make it easier to get started.  Understand the differences in PPO, HMO, and HSA’s, a tax-free health savings account to cover out of pocket medical expenses.   Become familiar with individual and family plans, high and low deductibles, and co-pay and co-insurance to make the process of choosing a health plan easier.

Blue Cross Blue Shield of North Carolina, offered through Osborne Insurance Services, Inc., provides coverage to match all its clients’ requirements.  With BCBSNC you can quickly and easily enroll to take advantage of customized programs.  You will discover discounts on health related products and services and become a self-advocate for improved health and better health care.  You will be able to make some preliminary choices with the comprehensive information on their website.  Terms and rates are clearly explained as are your options.  Check out their website to de-mystify health insurance; confusion will become understanding.

Source by Groshan Fabiola

Saving your company from ruins due to worker misclassification

Executive Summary

Over the years, full-time employees in the United States have enjoyed the fruits of long-term employment benefits where a good majority of the baby-boomers practically worked for a single employer until retirement.  However, business circumstances have lead to a new trend in the industry over the last 2 decades where companies have adopted a contingent workforce comprising of independent contractors in almost every industry, including IT or Information Technology.

From the business perspective, this was welcomed and embraced by employers who saw opportunities to enhance their bottomline due to perceived or realized cost savings from this new industry practice.  The use of these contingent workforce enabled high scalability for companies to wind-up or wind-down resourcing depending on business demands.  Add to that the realized benefits due to decrease in amount of employment taxes and costs of employee benefits, and exempting the companies from responsibilities under the traditional labor laws.

However, as years pass by, the concept of contingent workforce was so over-used which can lead to significant risk exposure for companies who misclassify independent contractors.  This was obviously attributed to their lack of understanding on the underlying differences between an independent contractor and an employee.  The grey area had since grown much wider and complicated as interested parties took notice of it and started asking the right questions.

While most companies understood that such worker misclassification have penalties such as increased tax liabilities, this is just the icing and not the cake.  Some employers have not yet considered the full devastating impact of other problems it can bring to them such as unpaid benefits, attorneys and court fees, etc.  To sum it all up, the total business impact of worker misclassification can actually cost these companies their whole business.

However, proactive initiatives by companies to conduct third-party audits bring in good value to their organizations.  This is especially so in order to understand better and mitigate risks involved in employing these independent contractors.  In the recent years, we can take a look at actual cases related to workers misclassification and gain a deeper insight on the complexity of the issues, and how your company can avoid the pitfalls of erring companies in the business.

FedEx: A Case of Independent Contractor Misclassification

The company received a bad news from the Internal Revenue Service (IRS) on December 22, 2007 with regards to independent contractor misclassification issue.  The IRS has assessed approximately $319 million in back taxes by FedEx for tax year 2002 due to misclassifying a great number of FedEx Ground/Home Delivery drivers as “independent contractors” instead of as employees.  FedEx has disclosed this decision of the IRS in its recent filing with the US Securities and Exchange Commission.  The $319 million assessed liability was only for 1 tax year, you must understand, and it can still increase when the IRS start looking at their other tax years for similar infractions.  Class action lawsuits against FedEx have also increased in number around the country, and over 50 lawsuits were consolidated at a federal court in South Bend, IN.  The class action involving around 14,000 current FedEx Ground/Home Delivery drivers nationwide may still grow with inclusion of additional 10,000 former drivers.  In California, FedEx’s position was further challenged as the California Supreme Court released its decision on the case Estrada vs. FedEx which affirmed an Appeals Court ruling that FedEx Ground/Home Delivery drivers were indeed misclassified as independent contractors instead of as employees of the company.

While FedEx has been largely considered as the common example for worker misclassification, it used to be Microsoft Corporation who carried that bill for a while back then.  Sometime in the late 1980s, the company employed around 1,000 workers under the category of independent contractors.  As part of their processes and procedures, those workers signed an agreement that affirms their being independent contractors, and that they were not entitled to the company’s Benefits Program for employees.  The IRS conducted an audit on the company during the 1989 to1990 tax year, and found that those workers classified by the company as independent contractors should actually be employees.  The IRS findings were based on Microsoft’s inherent ability to “exercise direction and control” over the services performed by those workers.  Thus, Microsoft decided to comply and paid employment (back) taxes for the workers and even hired some of those workers as employees.  However, Microsoft’s woes did not end there when a group of those former “independent contractors”, now employees, demanded for benefits that they could have enjoyed during the specific period they were classified as independent contractors.  While the company disputed the claims, around 8 of those employees sued Microsoft (Vizcaino vs. Microsoft) for the right to participate in the Benefits Plans.  Microsoft settled the suit in December 2007 in the amount of $97 million.

Looking at the two examples above, the issues resulting to worker misclassification infractions were not new at all.  And they illustrate the continuing legal trend in the industry with regards to worker misclassification.  Problems continue to hound the conflicting interpretations of the legislation and the ambiguous guidelines followed by federal and state agencies to enforce the law on worker misclassification.  In September 12, 2007, then Sen. Barack Obama introduced Senate Bill 2044 known as the Independent Contractor Proper Classification Act of 2007.  The bill is still pending in the senate, and related bills were also introduced such as HR 6111 and S.3648.  With the proponent of the bill now sitting as President of the United States, it may not be long before S.2044 becomes a landmark legislation that will affect all industries using and benefiting from contingent workforce.

So, who are the Independent Contractors?  Who are the Employees?

In distinguishing between an independent contractor against an employee, the degree of “control and direction” over the worker plays a key part.  This particularly with regards to the degree of control exercised by the employer over the manner and means that service is to be performed by the worker.  A real independent contractor is a master craftsman, they are qualified experts in their trade, with verifiable professional credentials and do not need any degree of “control” over their manner and means to perform their services.

Employees, however, would usually require basic to advanced training or instructions on how to perform their work assignment.  This also includes instructions on designated hours of work, production rate, and the work area assignment among others.  Potential risks happen when the employer’s degree of control over the work output (per independent contractor relationship) crosses the line over the manner and means of performance of the work output (showing an employee relationship).  Not all members of employer’s supervising team are appreciative of those salient nuances which can really be ambiguous especially during times of tight deadlines to meet.

It is when these dividing lines merge or the distinction blurs, such can easily fall prey to scrutinizing eyes of the independent contractors themselves, the employees, or other interested parties such as federal or state agencies, union organizers, labor lawyers, etc. which may lead to further scrutiny.  And when these parties identify that a company may be misclassifying workers, they will make allegations of an employee relationship violation resulting to aggravated risks on the part of the employer.

Among the things often looked at in this case are the degree of control exerted by the company over the worker’s time and work hours, the degree of assistance given by the company’s employees to the independent contractors to perform their services, and the company’s control over the means or methods used to perform the work.  That is, the way to complete a work assignment versus concern only for the final output.  This is further aggravated where the so-called “independent contractors” are provided training by the company.  Depending on pending circumstances and contributing factors, the company will be liable for violation of the law concerning employment of independent contractors.

Impending Liability: Sword of Damocles?

Numerous studies showed that the US government was losing hundreds of millions of dollars in taxes annually due to this worker misclassification practices in various industries.  This lead to intense deliberations in the legislative bodies and new bills introduced to remedy the problem.  While deliberations are still going on, let us revisit what can be the potential risks carried by non-compliant companies:

1. Back taxes, with both employee and employer contributions.
2. Cost of settlement for benefits that should have been enjoyed by affected workers had they been considered employees.
3. Pension contributions or profit shares that should have been enjoyed by affected workers.
4. Penalties from federal and state agencies plus accrued interests over the years covered in the violations.
5. Intentional misclassification of independent contractors which can lead to punitive or triple damages.
6. Encouragement of potential union organization efforts by affected workers.

While we cannot guarantee that nobody will challenge any company’s efforts to comply with proper worker classification legislations, what happened to FedEx and Microsoft were just sneak peeks of a potential upsurge on these cases that may come in view of the expected $1.58 trillion dollars budget deficit of the US government for the year 2009.

How can you protect your business?

It is true that, no matter how much you comply, it is still possible that someone or somebody will challenge you for a variety of reasons – trivial or otherwise.  Even the experts believe that the issues on worker misclassification will continue to exist not necessarily due to employers’ misgivings but also because of the changing legislations concerning the matter which opens new avenues for debates.  Be that as it may, the sure thing is that there will continue to be a need for careful and factual interpretations of these laws and their impact to the business.

Today, a lot of employers have limited appreciation of what processes do they have in place for properly classifying their workers, or how their current independent contractors are providing services to their company.  The first thing they needed to do to review their existing policies for worker classification.  While their staff may be able to follow what is already written on the policy manuals, interpreting the ambiguities of various legislations for worker classification is usually not these companies’ core competencies which open the door for potentials risks to happen.

The IRS has Section 530 Relief Requirements for those employers who engage independent contractors’ services.  Obviously, the burden of proof rests on the employers to support their qualifications to avail of the relief under Section 530.  Taking into consideration the broad interpretations on each of the three (3) requirement areas, even an employer who complied having “Reasonable Basis” can still fail under Substantive Consistency or Reporting Consistency.  The margin of error is too narrow to allow for uninformed decisions on the part of the employers.  There can be so much at stake for too little to make as benefits for taking the risks.  You must always refer back to the courts’ notion about the “duck.”

We can lay down a few steps for companies like yours to consider in regards to employing independent contractors in your organization:

1. Be sure to apply appropriate government guidelines. Many federal and state agencies provide basic tests that are applied during a tax audit.  Follow the guidelines as completely as you can when engaging independent contractors in your organizations.  A lot of these audit guidelines are public information and may be found on the agency’s website.  But be careful about the making ambiguous interpretations, and be sure to ask or qualify your interpretations as necessary.
2. Only use independent contractors with an established business already. Select independent contractors who have a good list of multiple clients serviced over the years, and which can be verified or validated.  Require your prospective independent contractors to present supporting documents such as client references, professional licenses, marketing materials, and proof of insurance before signing them up for services you require.
3. As possible, only use independent contractors who provide services which are not integral to your core business. Never engage independent contractors for services that are similarly performed by your regular employees.  Doing so will be indicative of staff augmentation instead of a defined project allowed for contracting.
4. Be sure to create and execute proper contracts with each independent contractor for each engagement. Make sure that the contractual agreement you sign with an independent contractor clearly defines the relationship of both parties to each other.  Engage the services of an expert to review your contracts to ensure that you are compliant to federal and state government guidelines.  Remember that each state may have varying guidelines that you need to comply with.  It must be that your contract presents a business-to-business transaction and veer away from any employer-employee language that hints about supervision or management of the worker.  The contract must include a Statement of Work that details the contractor’s actual deliverables (work output) and subject to acceptance by your company.  You should also include Non-Disclosure Agreements in contracting, and the standard provisions about Intellectual Property Protection on the contract itself.
5. So as not to lose track of compliance, be sure to address worker classification for all projects that you do. Be mindful that even while you deal with a real independent contractor, your compliance can be diminished due to the ambiguity of your project scope and definitions.  To remedy this, having an expert eye to review your documents can save you all the trouble in the near future.  Problems may not happen now, but it does not mean they will not happen at all if you miss out on current compliance requirements.
6. Always maintain audit files / records as references to support your worker classification decisions. In classifying workers as independent contractors, be sure to support this with as much documentation that you can have – from evaluation of competencies, customer references, proof of concept, etc.  With the process in place, you can be well prepared to support your worker classification decisions in case of an audit.  The more supporting documentation and processes you have, the more credibility you have in the eyes of the auditors.
7. Make it a rule never to engage a former W2 employee of your company as a 1099 independent contractor. This is the most common mistake committed by a lot of companies today.  This is highly risky because more often than not, these workers are re-engaged to perform similar work that they used to do as W2 employees.  It will for your best interest to instead engage a real independent contractor with excellent track record of delivering your required services.  The difference can save you the trouble supporting your worker classification decisions during an audit later on.
8. Explore about outsourcing your compliance assistance. Ensuring defensible compliance to 1099 independent contractor legislations require resources and strong expertise.  The ever changing legislations both on federal and state levels continue to pose challenges for companies to ensure a worry-free path to compliance.  Engaging the help of experts improves your confidence on compliance and weed out potential risks.  Further, where an independent contractor engagement is not feasible, there may still be other means to acquire the talents you require for your projects minus the compliance risks.
9. Be a good citizen of the country, and make no compromise about it. This country has offered your company great opportunities to do business and improve the lives of those who work with you.  Be a model citizen and pay your taxes honestly.  Cutting corners to save thousands or millions may actually cost you three-folds or more in the near future.  And being a good American is your best contribution to our industry and our society at large.

Source by Lito Reyed

According to the Social Security Administration, 3 from the 10 workers out there have a pretty good chance of becoming disabled at some point. If you might be one of those individuals, would you be prepared to support the financial percussions that might appear in this kind of situation? Unless you have other financial sources that you can use to pay your mortgage or other monthly financial obligations, it probably be good idea to purchase short-term disability insurance.

The injuries which are work related are usually being covered under worker’s compensation. Of course, as you might have guessed already, off-duty injuries are not. It may very well pay a percentage of your monthly income or a rate which will have to be paid on a weekly basis. Employers might offer short-term disability insurance from 6 weeks to 2 years, with a restriction of how much you are able to receive in a certain period of time. For you to be eligible, you will have to be working for a particular period of time. Employer group coverage might even be offered to you free at costs.

If by any chance, your employer will not offer you any coverage, or you just simply want to buy some additional coverage, you might consider buying individual short-term disability insurance. Unlike employer coverage, individual insurance coverage will be limited depending on your health. Beside this, individual insurance coverage is usually in many situations more expensive. Individual coverage too just like employer coverage normally will offer you coverage up to 2 years. With this type of insurance you are able to determine the percentage of your own monthly income which you might want to reimburse.

As you might noticed by now there are advantages and disadvantages when it comes to short-term disability insurance and you are the only one who can know which is the right decision to make.

Source by Willis J. Watson

What is it about car insurance claim forms that turn normally rational people into gibbering wrecks incapable of thinking, let alone driving, in a straight line?

Like the motorist who wrote, “The accident happened because I had one eye on the lorry in front, one eye on the pedestrian and the other on the car behind.” Or the woman who observed on her claim form: “The gentleman behind me struck me on the backside. He then went to rest in a bush with just his rear end showing. ” And how about this for skewed logic: “No one was to blame for the accident… but it would never have happened if the other driver had been alert.”

Of course these are the minor masterpieces of nonsense that cheer up the day of hard-pressed insurance processors. But what about those run of the mill forms, which may not be quite so hilarious, but rather tragically inadequate accounts of an incident?

Every year thousands of people risk higher insurance premiums or even legal action and compensation claims, simply because they don’t collect adequate evidence at the scene of the accident. Their car may not have been too seriously damaged, but their bank balance and reputation certainly could be. But now help is at hand for all of us in the shape of the UK’s very first accident camera kit, Crashmate®.

It comes in a neat roll up case that fits easily into the glove compartment and contains absolutely everything you need in the event of a car accident to get your side of the story correct down to the last centimetre. The beauty of Crashmate® is that it understands even the slightest shunt can put a normally levelheaded motorist into a bit of a spin. So there’s a handy step-by-step guide to what you need to do, including what information to give and collect.

One very neat trick is the chance to pre-fill forms for your own insurance details which you then simply tear off and hand over if needed. There are also forms for third party information, witnesses, police attendance and so on. And because few of us are expert draughtsmen – a comprehensive selection of road layout diagrams that just have to be completed with vehicle positions. The kit even includes a handy pen and pencil.

But the real pièce de résistance is the opportunity to collect some watertight visual evidence thanks to a 12 exposure disposable camera kit and tape measure. They say the camera never lies, and certainly any insurance company is likely to be paying up a lot earlier if you can actually show such things as vehicle positioning, road markings, signage, weather conditions, obstructions and damage.

Source by Sue Glenn

Shopping for a medical insurance is no longer a luxury; a medical insurance is considered by many as a need. Everyone sees the health insurance as their protection and their safety net in case something happens to them in the foreseeable future and a medical emergency may cost them all of their savings. This is the reason why health insurance will always be a hot topic in any health policy discussions and a silent topic for many families who are contemplating about their life, their health and their future.

Though it may seem that insurance should be present for any individual or the family, it is not suggested for a person to get the first insurance contract offered at the table. There should be some form of research and deliberations involved so that the perfect match can be sourced.

There are a number of things to consider and the cost and the coverage are just two of the considerations that should be taken into mind by the interested family or person who may want to have his safety net and protection. And speaking of coverage, the coverage is the main difference that differentiates one type of medical insurance from the other. There are four general types of health insurance according to its promised coverage. The list includes the indemnity insurance, the HMO or the health maintenance organization, the PPO or the preferred provider organization and the POS or the point of service-type of health insurance. Almost every major health insurance plan provider will have any of these plans like Blue Cross, and it is imperative that the interested person should know the differences to get the best match.

The following will be a discussion of the different health insurance plan:

•    The indemnity insurance or the fee-for-service. This is the most common plan taken by most people. This kind of plan will pay for almost health-related costs though it will not pay for preventive care. Physical exams that a person can take are not covered in this plan and the person will have to pay for that separately. It should be remembered too that in this kind of health insurance plan, total cost is not covered. The coverage will be a certain portion of the billed amount.

•    The health maintenance organization.  This is provided by the major health insurance plan providers like Blue Cross. This type of insurance covers for almost all the health care needs of the patient- from checkups to hospitalization. But there will be a minimal co-payment that will start at low $5 to as high as $40.

•    The preferred provider organization. The insurance provider will provide the consumer with the ‘preferred providers’ and the consumer will pay a minimal fee once he visits any on the list. The person will be given the chance to select the doctor but he should be prepared to pay out for the bulk of the cost.

•    The point of service. The person will have two choices here- to use the plan the way HMO is used or you can use this as an indemnity plan.

Knowing these things make shopping for a health insurance plan both easy and convenient. At least when a person contacts his chosen provider say Blue Cross, he can save on time and immediately take the plan that suits his needs.

Source by Shieldon

In this article today I would like to discuss several tips, tricks, and techniques that you can use to make sure that you are able to continue paying your bills if your income stops due to an illness.

The recession that started in late 2008 and has continued into 2010 has made it particularly hard for many Americans to get by. Even for those of us who are lucky enough to still have a job, the cost of everything seems to be rising from day to day making it harder to make ends meet. What would you do if you suddenly found yourself out of work because of an illness that you have no control over? That’s what I’d like to talk about today.

In my opinion, everybody should have disability insurance yet hardly anybody ever talks about it. First of all, what is disability insurance? Quite simply it is insurance that pays you when you become disabled and can no longer work.

What makes a good disability insurance policy? Well let’s talk about that… the first thing you need is a policy that covers at least 40% or better yet 60% of your take-home pay. When I say take-home pay I mean the actual money you take-home. The benefits that you get from disability policies are usually tax-free. The more money your disability policy pays out the better, but the more money it pays out, the more expensive the policy will be so a good rule of thumb is 40 to 60% of which will need to live.

If you’ve already planned for your retirement then you don’t need to factor that in to your disability policy. Therefore you only need your policy to cover you during your working life. If however, you have not factored in or began saving for retirement, then make sure your policy pays out enough money for you to save for retirement as well.

Next, make sure your policy has as short a waiting period as is possible before you begin receiving benefits. The shorter a waiting period, generally speaking, the higher price policy will be so here is a fun little strategy that can save you money…

Purchase a policy that has a 90 to 120 day waiting period. I realize that is 3 to 4 months and many people can’t afford to wait 3 to 4 months in order to start receiving benefits. The trick here is to save up yourself right now 3 to 4 months worth of living expenses and that may be cheaper than the extra expense of premiums you will pay over time buying a disability policy with a shorter payout period.

So there you have several tips, tricks, and techniques that just about anybody can use to make sure your bills continue to get paid even if you lose your job due to a sudden and unexpected illness. A little planning in advance can go a long way and save you a lot of heartache and misery.

Source by J.P. Morton

You made it happen, you became a pilot.  From the guys that fly commercial jets, to the weekend warriors taking their buddies to the remote fishing spot, you are all part of the special fraternity, that elite group of pilots.  While your backgrounds and reasons for flying may be different, you all need to protect your investment by purchasing Pilot Insurance.

By considering these 4 factors when shopping for pilots insurance, you can successfully navigate common aircraft insurance pitfalls, and choose the provider that meets your needs.

1. A Pilot-Centric Insurance Provider

When looking for pilot insurance, it is important to choose a company that understands pilots and their unique needs.  Don’t get lumped into that catchall ‘pilot-category’ by working with a company that doesn’t specialize in airplane insurance.  By choosing a specialized Pilot Insurance company, you get a plan tailored to your specific piloting practices and lifestyle.  This will allow you to lower your premiums while ensuring that you, your passengers, and your loved-ones are truly covered.

2. Direct Writer Pilot Insurance Company

Seek out a direct writer company instead of an independent agent when shopping for pilots insurance.  Direct writer companies employ non-commissioned professionals who specialize in their company’s aircraft insurance policies.  Remember, pilot insurance policies are non-standardized, so it is imperative that you deal with a professional intimately familiar with the nuances of the many coverages and policies available today.

3. Availability of Discounts

While choosing a pilot insurance plan tailored specifically to your needs is the first step to lowering your premiums, additional discounts are out there.  Look for aircraft insurance companies that offer programs that reward pilots for participating in training designed to improver their piloting skills.  Participation in these programs can lower your premiums by 5-10%, and many pilot insurance providers offer multiple programs that can be combined for significant discounts.

4. High A.M. Best Rating

An airplane insurance company’s A.M. Best rating is a measure of the company’s financial strength and its ability to pay claims.  Ranging from A++ to F, why put your future in jeopardy by working with any pilot insurance company without a ‘Superior’ rating?

Remember, you took the steps necessary to earn your pilots license. If you take the time to carefully consider these 4 factors when shopping for Pilot Insurance, you can be rest assured that you did your due diligence in selecting a policy and provider that meets your needs.

Source by George Murphy

Stay-at-home moms still go outside, walk across the street and drive a car. They are subject to the same day to day risks of any person, but many do not consider that anything could ever happen to them.

You don’t like to think about dying and leaving your family behind, but the possibility always exists that an unexpected event can cut your life short. In the case of tragedy, you know that your loved ones will struggle. Making sure they do not have financial worries on top of their grief is the only responsible thing to do.

Term life insurance is so inexpensive that there is never a reason to leave your family unprotected. A policy for yourself and your husband can cost as little as $20-30 per month for a policy as large as $200,000, and can bring enormous peace of mind.

In the event that one of you is killed in an accident or succumbs to unexpected illness, the surviving spouse will have to raise the children and cope with the finances alone. They will also have to deal with the ever rising cost of funeral arrangements and burial.

Term life insurance pays out a lump sum to the designated beneficiary upon the death of the insured, and most funeral homes and banks will extend credit for burial and living expenses on receipt of confirmation that such a policy was in force.

Your husband would be able to take time off from his job to grieve and care for your children, and afford good childcare for when he had to return to work. He might also be able to hire help for the things you usually took care of, such as household matters such as cleaning and cooking.

Term life insurance for stay-at-home moms is generally inexpensive, as they are usually fairly young and healthy, and not prone to high risk activities. If insurance is available through the husband’s job, it will be even cheaper.

The wage earner should typically be insured for 5-10 times the annual salary, and a stay-at home mom for about a quarter that amount. If you can afford more and expect the employment with the particular company to last, purchase as much as possible. Group insurance is the cheapest you can find.

If employment is subject to change without notice, consider purchasing additional term life insurance from another source. This is a good use for a portion of your income tax refund if you receive one, as you can pay off the policy in full and be covered for 10 or more years without having to worry about monthly premiums.

Once you have purchased term life insurance, make duplicate copies of all paperwork and place one set where it will be easy to hand in case the worst happens. You don’t want to be searching for it if you end up needing it. Place the other copy in a safe deposit box in case of fire or other incident that could destroy the first copy.

Life insurance is an unpleasant necessity, but it is immeasurably better to have it and not need it than to meet with tragedy and leave your loved ones struggling to make ends meet.

Source by Rayven Perkins

If you’re shopping for insurance, you’re probably thinking about your own property. Most policies are—quite sensibly—purchased to make certain that individuals who have their homes or apartments destroyed in fires are able to recover financially. These policies also make certain that families aren’t left out in the cold if they lose their homes, one of the most terrifying consequences of such a devastating event. Fire liability insurance extends this type of protection to those around you. It’s not pure altruism, however, as you are at more risk than you may think if you have a house fire.

The most important thing in the event of a house fire is that there are no casualties. If that is the case, there will still be a lot to handle. Your home will likely be uninhabitable for a time. You’ll also find that your possessions, even those that don’t burn, will likely be destroyed. Fire liability insurance doesn’t help you replace any of this. It helps you to avoid what amounts to being attacked from your flank at one of the most vulnerable points you’re likely to face in your entire life.

Fires are events that can realistically take down an entire city block, or much more. There have been historical fires that have eliminated entire cities. Wildfires often burn thousands of acres, and are sometimes started by fires at individual houses. With all of this potential damage, fire liability insurance provides a way to mitigate your risk. If your fire takes out the neighbor’s garage, you’ll be covered for their damages. If this doesn’t seem that important to you, you may want to consider how much it would mean to your neighbor. Oftentimes, a fire that starts in a single-family home becomes a multi-family disaster.

Fire liability insurance is a good addition to your home coverage. If you’re a renter, this may already be part of your policy. Renters face the greatest hazard from these events. Not only do renters typically have less money on hand, they can also potentially destroy many apartments nearby their own through no fault of their own. Fault or not, your neighbors may expect—perhaps justly—that you reimburse them and your insurance will make sure that this doesn’t destroy your financially. For renters and homeowners alike, this insurance coverage is a very sensible and affordable movse to make.

Source by Ross Quade

The reasons for buying any kind of life insurance are always personal. What makes perfect sense for one person may not add up for another. For example, a 65-year-old man wants to buy a million dollar life insurance policy. He doesn’t have to insure against lost income. He doesn’t need to pay off his home. He just wants to leave behind a large amount of money for his family. It’s his dream. Since he can afford it, it’s his choice.

Life insurance usually is intended to maintain a family’s lifestyle in the event that one or both of a family’s wage earners dies prematurely. Most seniors do not have to worry about this. The vast majority are no longer providing for their children. Many have already paid off their homes or have sold them for a profit and moved into a more affordable housing. The traditional reasons for life insurance may not apply, but some untraditional ones may.

Some seniors are concerned with final expenses—funeral and burial costs. These costs have risen dramatically in the last decade or so. Some seniors who thought they had saved enough for final expenses or had a small life insurance policy to cover them are finding that they might come up short. They can take out final expense policies. Generally small, some final expense policies do not require a physical. They are known as “guaranteed acceptance” policies.

To minimize risk on the guaranteed acceptance policies, insurance companies often require a two-year waiting period before paying full death benefits when the death is from natural causes. This is to prevent the writing of “deathbed” policies that insure patients who are terminally ill. If the insured dies within the first two years of the policy, most insurance companies will pay the beneficiary the premium amounts plus interest as a death benefit, but not the full face value. Accidental death—from an automobile accident, for example—is covered as soon as the policy is written.

Another unconventional type of policy is the single-premium life insurance policy. The premium is paid upfront in a lump sum and covers the policyholder until death. Depending on the age of the policy holder, the death benefit can be two or more times the amount of the single premium. Since life insurance death benefits usually are exempt from estate taxes, many seniors use a single-premium life insurance policy as a tool to pass on wealth to their heirs tax-free.

Some single-premium policies can include a provision to pay for certain kinds of medical care, such as nursing home care or hospice care. In this sense, the policy functions as a kind of long term care insurance. Any money remaining in the death benefit at the time of the policyholder’s death is passed on to the beneficiary.

Most seniors do not need life insurance for the traditional purpose of income replacement, but some seniors decide that life insurance is a tool that can help them realize their final goals and dreams.

Source by Bradley Steffens

Many business owners have taken proper steps to insure against property loss and injury claims, the more traditional forms of commercial insurance coverage. However, they may have overlooked protecting themselves against claims of professional negligence.

Errors and Omissions (E&O) insurance, also known as Professional Liability insurance, protects organizations or individuals against claims of financial loss due to negligence in the delivery of professional services. Professional liability related to errors or omissions, whether actual or merely perceived are not covered by General Liability insurance. (General Liability essentially covers claims of bodily injury or property damage.)

As the business climate grows more complex, so do the insurance needs of business owners, regardless of whether they employ hundreds of consultants or operate as a sole proprietorship out of their home. Errors and omissions insurance coverage is critical and it protects businesses in two vital areas: legal defense fees and settlement expenses.

Most E&O policies will cover defense costs, which, even if the allegations are found invalid, can cost tens of thousands of dollars. For many small businesses and individuals, high legal defense costs could lead to serious financial strain or even bankruptcy.

Who’s at risk?

Professionals who most commonly need E&O insurance include doctors, lawyers, engineers and consultants. However, there are a handful of businesses in which E&O coverage is often overlooked, these include advertising agencies, Web hosting companies, service providers, Web and graphic designers, and other Internet-based service companies. Nearly every organization that provides a professional service to a client for a fee has E&O exposure, and because professional requirements are typically undefined in legal terms, Professional Liability insurance shields businesses from the unforeseen.

In some cases, subcontractors may be required by the client to provide proof of General and Professional Liability insurance. Any business that provides specialized service or performs work on a project that is critically important to the client’s business, will want to insure themselves against E&O claims. This risk opens the contracted business to potential litigation. If a client perceives a task was not carried out as promised, they can file claims on several issues, including:

* Software or system failures that cause a client to lose profits
* Failure to perform duties
* Loss of client data
* Copyright infringement on Web site and software development
* Failure to meet pre-determined benchmarks on specific projects

While quality control can reduce the risk of errors and omissions, no company has complete immunity to it. Even with the best and brightest employees serving on the frontline, mistakes will happen and if the client feels the service was not completed as promised, if it costs the client money, or damages their reputation, then the company could be at risk of E&O litigation.

Ensuring the policy meets the company’s needs

Costs for errors and omissions insurance coverage vary significantly. Many factors are taken into account such as, the type of business, the type of services provided, the location, claim history, and size of the business. The competition among insurance providers, however, works to the business owner’s advantage, and the process for receiving an E&O insurance quote, cost comparison and detailed policy information should be fairly simple.

While the process will vary, some insurance company underwriters will ask for copies of contracts and descriptions of quality control procedures, while other underwriters may simply request an application be completed. When searching for an E&O insurance quote or reviewing a policy there are several key features to be mindful of:

* Coverage should include legal defense costs.

* Both W2 employees and 1099 subcontractors should be covered – the company should be protected against claims from work performed by 1099 subcontractors on the company’s behalf. In many cases, however, 1099 personnel are not covered and would need their own errors and omissions insurance coverage.

* Optional coverage for allegations of copyright and intellectual property infringement – this protects the company from claims alleging copyright infraction. Intellectual property infringement coverage is particularly important for software, systems or processes, as they are the most widely known “intellectual properties.”

* Personal injury coverage such as claims of libel, slander and invasion of privacy

* Worldwide coverage – this covers incidents regardless of where they originate.

Defending a claim

In the event a claim is filed, E&O insurance will adequately prepare the company to defend its case. It will pay for a strong legal defense and potentially save a small business or individual from severe debt. Unfortunately, laws and legal precedents that govern the technology industry are still under development, which often puts IT professionals in unknown legal territory.

However, while mistakes are bound to happen, there are a few steps businesses can take to mitigate claims:

* Have a written contract detailing what service will be provided, what is not included and the fees for delivering that service

* Communicate throughout the entire job; give the client realistic expectations upfront and provide regular status updates

* Implement quality control procedures, and regularly conduct audits to ensure the procedures are being adequately executed

Once the contract is written, be sure it contains very specific information, including:

* Limits of liability – the dollar amount per occurrence of liability

* A section detailing the services the company will be providing

A written contract is one way businesses and individuals can protect themselves, however E&O insurance will provide an extra layer of protection against the unknown and unexpected. Defending a claim is costly and time consuming. Regardless of whether a suit is deemed unreasonable, attorney fees will still need to be paid. In some instances, costs for defending a case can exceed the cost of a resulting settlement. E&O insurance covers attorney fees, any settlement costs that may result, and allows the business owner to continue operating without fear of potentially having to face bankruptcy or a mountain of debt.

Source by James Cochran

Medicare Supplement Plans are being purchased by droves of Seniors who are turning 65 and enrolling in Medicare for the first time.  This is mostly due to the great financial health of the companies offering these policies, fabulous customer service, and affordable Medicare Supplement Plan prices.  While many different companies offer the same exact Medicare supplement plans and benefits, many people appreciate quality and know the strong brand name strong companies.

Aetna Medicare supplement plans are highly desirable because Aetna has an “A” rating by A.M. Best, which is a well known rating agency.  This is a fine demonstration of financial health and all but ensures Aetna will be providing great service for years to come.  Aetna has a strong brand and many seniors have had an Aetna health insurance policy at some point throughout their career and are familiar with the company.   In addition, most doctors like working with Aetna as they are a top rated company with great medical provider support.

One of the most important factors to consider when purchasing a Medicare Supplement Plan is the customer service provided by the insurance company.  Aetna Medicare supplement plans have great customer service, which is important because almost all seniors will discover they will have billing issues at some point.  As we age it is important to make sure we purchase quality insurance to alleviate stress and eliminate financial burden.  Doctors offices often make mistakes and it is important to carry a quality Medicare supplement insurance policy that will pay the bills on time, and with no hassle!

Aetna Medicare Supplement plans are offered in many states, and most people find them to be a very affordable option.  In addition, while some companies may provide “teaser” rates that increase dramatically after a few years, Aetna’s prices hold steady and only increase slightly to keep up with inflation.  This is one of the reasons Aetna has a high customer satisfaction rate and why thousands of seniors are very happy with their decision to purchase an Aetna Medicare Supplement plan.

Medicare Supplement plans are standardized by the Center for Medicare Services.  Aetna offers only standardized plans to Seniors over the age of 65.  When choosing the best Medicare Supplement Plan, make sure to consider Plan F as it is the most comprehensive and most popular plan available.  Seniors who purchase Medicare Supplemental Plan F rarely pay for any medical expenses and have peace of mind knowing they have the best coverage money can buy.

Aetna is one of many companies that offer Medicare Supplement plans.  It is very important to consult an insurance broker that carriers every company before purchasing a policy as Medicare plans are changing all the time and their expert advice is free.  Please do not hesitate to contact a specialist or national insurance broker if you would like to compare all Medicare plans and prices.

Source by Tyra Phillips

his may be their spouse, who will use the funds as a means of support for the remainder of their own life, or, in the case of younger individuals the beneficiaries are often dependent children who will need funding for their education and support before reaching adulthood.

These kinds of policies are an especially good hedge against the accidental death of a family’s primary provider. It is not uncommon for a husband to have a policy with his wife as a beneficiary and for the wife, in turn, to have coverage naming the husband to receive her policy’s value. However, as people age, they often find fewer reasons to maintain such coverage, which can, over the life of the policy, become a financial burden. Given that fact, there are actually times when it makes more sense to sell your life insurance policy and to benefit immediately from the cash reward. For instance:

• Your intended beneficiary precedes you in death and there is no one else you want to name or feel you have a responsibility to name.

• The premiums become more than you can afford after retirement when most people find themselves living on a fixed income.

• You need access to the funds to maintain the standard of living to which you are accustomed or to improve your current standard of living.

• The money generated from the sale of the policy is required to cover pressing bills.

• You find yourself in a situation of needing long-term care and need an infusion of cash.

• You believe the value of the policy could be used to generate income via another type of investment.

• You simply change your mind about wanting or needing the coverage.

Under any of these circumstances, or for others that may apply, senior life settlements can be the best possible course of action. By selling your life insurance policy on a secondary market, you can receive a lump sum of cash and benefit immediately by re-using the funds as you see fit.

In the past the only options available for life insurance settlements were:

• selling the policy back to the issuing institution for a pre-agreed cash surrender value written into the terms of the cover. Generally the amount is quite low.

• allowing the policy to lapse thus freeing yourself of the burden of paying the premiums but also losing the value of all the premiums already paid.

• collecting the value of the policy via the death of the insured individual.

Now, however, seniors can work through life settlement brokers who will offer a fair price for the value of the policy. Generally some requirements must be met, for instance, the policy holder must be a U.S citizen, 65 years or older, and must have been paying on the policy for a set number of years. Normally, there is no difficulty in meeting the requirements, however, and companies provide insurance professionals to counsel with the policy holder and to explain each step of the procedure. Often the sale and payment can be accomplished in a matter of days.

The insurance industry is built on evaluations of risk. Life insurance policies are generally sold to young people who fear that others will suffer financially in the event of their deaths. Senior citizens and retired individuals whose children and loved ones are already established suffer less from these fears and may truly need the financial value in their policies for their own economic well being. In these circumstances, it not only makes sense to sell your life insurance policy, it can make a real difference in the quality of your “golden years.”

Source by Dave Rich

Monoline workers compensation is a type of insurance protection that provides the workers compensation for healthcare in the event of injury in the course of work; obviously all that comes to the staff members for a rather high price, for mandatory relinquishment of their privileges to sue their employer for the tort of negligence. By doing this, the staff members get a guaranteed but restricted protection for any injury that takes place while working for their company. Its laws differ from one state to another. Like everything, this kind of insurance does have its ups and downs. In accordance with the insurance type, regular repayments replacing the salary in case a staff has been injured while at the job and payments for the expense fulfilled by the employee for the hospital costs are granted. As we can notice, this acts precisely like a disability insurance policy and a medical insurance policy simultaneously. If the personnel is killed during employment, the dependants of the worker will be offered the death benefits just like a life insurance plan. Punitive damages and general damages for discomfort and suffering don’t join the listing of the insurance plan.

The governmental compensation legislation resembles a two-edged blade, with advantages both for the workers in addition to the employers. In accordance with the law of this insurance type, a schedule showing the money and kind of the compensation to be granted to the employee by the employers dependenting upon the type of injuries sustained is drawn. As per this law, the companies can buy an insurance plan against such situations. A statutory scheme usually provides a fixed sum relying on the kind of the injury to the employee. Relying on the extent of the injury the payment varies. In the case of losing an arm while at work, the scheme pays a significant money as the employee can still discover a task with his impairment, and is not technically completely disabled. This doesn’t come under the reality that the employee will have a tough time to find a task with simply one arm. The major minus points in the statutory compensation law is that the employer can drop handicapped staff members who are supposed to be provided “light responsibility” stating that their company does not have any “light task” positions to be taken.

Similar to each and every legislation, the monoline workers compensation rule is likewise lagging behind when numerous new additions need to be generated to support the employee against being exploited by the employer. This forces the heartbroken staff members back to the court houses to push their needs against their employers. Visiting the courts in fact does not do much great to the employee as it doesn’t award the employees the correct amount of compensation for the hardships the staff members have been through and will be going through in the future. This occurs extremely rarely, this insurance does its best to see that the workers are taken care of very well even if the unexpected happens. Legal professionals and attorneys who are professionals in this type of insurance coverage will help examine your situation.

Source by Chang Biscoe