There are many different types of insurance cover that are designed to protect us, our loved ones, and even our belongings these days, and the insurance industry makes a fortune from consumers that are keen to try and cover every eventuality when it comes to finances. One hugely popular type of insurance cover is known as life insurance, and the purpose of this type of cover is to provide peace of mind and protection for the family of the policyholder in the event that the policyholder dies unexpectedly during the term of the policy. If the policyholder passes away due to a reason other than those listed as exclusions in the policy then the family or beneficiary will receive a lump sum payment.

Life insurance is particularly important if the policyholder is also one of the main income earners, and this is because the death would not only mean grief for those left behind, but would also mean the loss of a main income, which could otherwise result in those left behind being unable to cope financially. This is turn could lead to real financial hardship, and could even result in the family losing the home due to being unable to keep up with repayments.

There are a number of options available when it comes to getting life insurance cover, and the two main types of cover are term life insurance and whole of life insurance. The first one is the cheaper option, and there are some very competitive deals on offer with term cover. As the name suggests this form of cover provides protection for a specified term, which is often fifteen years. Once the term expires you are no longer covered and your payments will cease. You will then need to look at taking out cover again. Often people opt for this type of cover because it is the cheaper option and very straightforward.

Whole of life cover will suit those who are able to pay a little more to enjoy the increased security of having cover in place for the whole of their lives. However, this type of cover is more expensive, and therefore you will need to determine whether you can afford the additional premiums in order for the extra level of cover. Whole of life cover is also available with an investment element, and like term cover there are a number of exclusions so you should ensure that you read the small print carefully before you make any commitment.

There are a number of things that you need to bear in mind when you are looking for any type of life insurance cover. The first is to ensure that you take out an adequate level of cover, as the payout will need to provide financial stability to those left behind and therefore needs to be for an adequate amount. Also, remember that the cost of cover can vary from one provider to another, so make sure that you compare different policies from a range of providers to get the best deal at an affordable price.

Source by Peter Kenny

In Europe there are a lot of safety options for cars that feature both standard and additional equipment. But it’s not the same in the US. What are the reasons for that? Some insurance specialists think that it’s the lack of tort reform that puts auto insurance in the US into such a situation.

But what is a tort reform in the first place and what it has to do with auto insurance? Tort reform is a general term that refers to a change in the US civil justice framework that is required to provide a limitation of tort litigation and damage. If the reform will be applied then the negative effects litigation has on the economy will be significantly reduced.

In order to make the significance of this reform a bit clearer, here’s an example. There are a lot of advanced technologies available for installing into your vehicle. Things like side curtain airbags, special glass, obstacle detection systems, rear camera system, advanced seat belts and numerous other features are very common in the European market and often come as a standard setting for new vehicle. But even if this equipment is made in the US, it is still exported since it’s not that simple to introduce these features into American cars. But why is that so, you might ask? Well, it may come as a surprise for you put if studying the question in details it turns out that our own court system and litigious society are the main reasons for these technologies to have a hard time penetrating the domestic market.

The thing is that installing these add-ons into a typical car automatically gives a possibility for litigation, so it’s much simple for the auto dealers and auto insurance providers to neglect these features than try to seek regulations in the legislation. That is why the tort reform is required to modify the legal system itself, and this will allow for new technologies to be introduced to the market faster and much easier than now. Who will want to provide coverage for such an auto when the customer can sue the company for not providing a regulatory base and failing to cover such equipment to the right extent? Of course, no-one.

The U.S. Class Action Fairness Act of 2005 may be a good step towards an overall tort reform since it transferred class-action lawsuits from the jurisdiction of state courts, which eliminates a large part of state litigation. There are two major points that tort reform advocates see in this Act:

1. Lowers the risk of an out-of-state defendant to face excessive verdicts, and reduces the amount of settlements that can be otherwise exceeded by local venues.

2. Introduces new procedures for reviewing coupon settlements, reducing attorney’s fees that can be often labeled as “excessive”.

This Act thus significantly lowers the litigation amounts and can ultimately lead to a decrease in auto insurance rates. Nevertheless, there’s a need in a real tort reform for the auto insurance industry to work more effectively and allow new technologies to be introduced without the risk of court trials from unhappy customers.

Source by David Mayer

Recently, a few people I met decisively would not install an alarm system at home. Especially, they would not pay $30/month for monitoring. The reason they provided made me think and research. Now, really, why would one pay $30/month to an alarm monitoring company? If there is loss, insurance would cover. My research and reasoning resulted in the following:

Monitored Alarm system vs. Insurance Coverage

1. Robbery – attempt to take something of value from another person by use of force, threats or intimidation.

a) Preventative measures (security system):
Whether it is residential or commercial property, a panic (or holdup) button can help. Without making it obvious to the criminal, one can have police show up in minutes.

b) Reactive measures (insurance policy):
If police is not there and you do not have an alarm system to help you, do nor risk your life. Valuable goods are not worth your life. Moreover, if your property and belongings are insured, there is a great potential to get those covered by insurance.
Make sure you keep all necessary paper work to prove your loss. Always call police after the criminal is gone. It is also good to have a video surveillance system in action.

2. Burglary – unlawful entry to commit a theft.

a) Preventative measures (monitored alarm system):
Sound of alarm system often makes burglars retreat in panic. In fact, warning stickers on windows and doors often keep burglars out of your premises. However, there are smart burglars who know ins and outs security systems and are prepared for these challenges.

Make sure your alarm system is smarter that those.

b) Reactive measures (insurance coverage):
Hopefully, you are not trapped inside your premises when a burglar comes. It is always better to have an armed and monitored alarm system in place – you can arm it even when you stay inside.
Insurance would cover some loss. Again, make sure you have all the paper work, call police and make a report.

3. Fire – in any circumstance is devastating.

a) Preventative measures (fire alarm system):
In most cases, a properly installed alarm system with fire monitoring will notify fire station before it is too late?
Damage to property is possible but usually insignificant. Smoke, CO, gas and heat detectors are required to notify fire station in time;
An alarm system that makes early notice of fire allows time to evacuate and/or stop the fire.

b) Reactive measures (insurance policy):
If there was no fire alarm monitoring in place, the fire truck would come almost always too late.
Insurance companies usually cover the loss of up to maximum allowed limits. The owner needs to have a proof of purchase and appropriate value estimates with the company. It would also cover repair of your and neighbours property.

To summarize: A monitored alarm system and an insurance policy should work together as one. The goal of alarm system is to prevent or send early alert of an incident. Insurance policies are designed to cover losses that could not be prevented. Combining the two, brings you piece of mind that you deserve.

Source by Alfa Security

Disability Insurance is an important means of protection against huge financial losses due to illness or injury. Whether you’re a professional, business owner or an employee, you pay into this disability protection every month in the event something happens to prevent you from making a living. Ironically, when you do become disabled, many insurance companies have a hard time making good on the claims, and all too often, deserving individuals are denied benefits.

Whether it is a percentage of income or a set amount, most disabled men and women will have to fight to get all the money they need and deserve. Cutting through the red tape can be time consuming and difficult. Contacting an experienced disability insurance claims lawyer can save you time, money and headaches and help alleviate unfair insurance practices. Bringing a law suit against insurance companies who deny rightful disability claims can be a necessary step in improving or maintaining quality of life for you and your family. The lawyers at David Share Associates will fight to get you the money you need when you need it.

If the insurance company does make you a monetary offer, and you suspect you may be entitled to a greater amount, it is always a good idea to have an experienced lawyer look over your policy.
When a disability claim is denied, the insurance company may be held
responsible for breach of contract or bad faith .

Breach of Contract

When a breach of contract suit is filed, the disabled plaintiff claims that the insurance company is not following through with contractual duties. Policyholders may collect benefits due plus incidental damages. In order to win a breach of contract claim, the disability lawyer must demonstrate to the court that his client is in fact disabled under the stipulations of the policy, and also that the insurance company wrongly denied benefits. Because the contract language can be elaborate and convoluted, it is important to have an experienced disability insurance litigator on your side.

Bad Faith

A bad faith claim against an insurance company states that the insurance company failed to “act in good faith” when evaluating the clients disability claim. By law, insurance companies must demonstrate good faith through fair and comprehensive attention and evaluation of each claim. A disabled client’s lawyer must prove to the court that the insurance company denied the benefits claim, or paid out an inadequate amount, for unfounded reasons. A bad faith lawsuit can result in payment of denied benefits, interest, damages and lawyer’s fees.

Infliction of Emotional Distress and Fraud

After a disability lawyer effectively shows the insurance company acted in bad faith, he or she may then make a claim that the client suffered emotional distress due to the insurance companies denial of the claim. With an emotional distress claim, a disabled policyholder may ask for punitive or exemplary damages above and beyond the disability award.
Statutes of Limitation
Your rights to fight against a denial of benefits may expire after a certain period of time. If you believe that an insurance company has wrongfully denied your disability insurance claim you should contact David Share Associates as soon as possible.

Source by Jacob Solomon

Getting life insurance if you have cancer is undeniably challenging but it is not impossible. Your probability of getting coverage depends, to a large extent, on the type, grade, and stage of the disease. The treatment plan also plays a big role because it determines the curability of the cancer. For example, certain types of illnesses like skin cancer is considered as a very low-risk condition by most cancer life insurance companies. In fact, they consider it so inconsequential that skin cancer history might not even have an effect on premiums.

Meanwhile, patients with treatable types of prostate and breast cancer might still fall under the “standard” category. However, the best scenario for high-risk diseases such as colon cancer and leukemia is that it will fall into the “high substandard” category. Some patients will also be declined depending on the life insurance company. Individuals whose cancer has metastasized have a very slim chance of getting coverage.

Majority of cancer life insurance companies do not want to provide a policy for people still undergoing treatment. And depending on the type of condition involved, life insurers might also ask for a “temporary flat” or a surcharge to your plan. These premiums might be expensive but it will also disappear over time, usually between two to five years.

Should You Get a Cancer Life Insurance Broker?

A good life insurance agent can help you find a reputable insurance institution that can offer coverage. In many instances though, cancer patients should look into a broker whose specialty include finding cancer life insurance policies. These brokers are familiar with the various policy requirements of different companies.

Most of them will already know the specific concerns of underwriters and they can provide an immediate answer to that. In addition, cancer life insurance brokers who have been in the business for some time already have a good network. These relationships can benefit you in your search for a cancer life insurance policy.

The end result is, your application is given to the companies who will view your medical history most favourably. You’re able get the best price quotes and the lowest premiums. However, while this might sound like good news for many cancer survivors, it is also crucial to exercise precaution. Make sure that the broker you get has a license and then check the financial stability of the company before you buy the policy.

Tips to Get Cancer Life Insurance Coverage

It is important to get all appropriate medical files before you apply for the policy. Everything from the treatment record to the first pathology result should be compiled. This will help the underwriter get a complete picture of your health and cancer history. Likewise, it will significantly reduce delays in the process because the underwriter will ask for these records from you anyway.

It is also a good idea to get a checkup prior to your cancer life insurance application. If you haven’t been back for a year, then the insurer is not likely to give you a policy without seeing the state of your health at the time you apply.

Source by Sam Decausta

If you have never been a motor vehicle accident that resulted in having to file a suit against the at-fault driver, then you still have time to learn: Don’t screw up your auto accident settlement.  That may seem harsh, but sometimes you can innocently mess up your chances of receiving what you should in the settlement.

I asked a group of folks for what they had learned when they went through the auto accident settlement process.  The advice covered what to do at the accident scene, what and how to document everything, how to deal with the other guy’s insurance company, and when it may be time to hire an attorney.

Here are the top 10 bits of hard-earned wisdom:

1. While at the accident scene: call for medical assistance immediately if anyone is injured. Remain at the scene of the accident. 2. Get information concerning the time, place, date, location, as well as the other driver’s auto license number and driver’s license name and number. Write everything down!!! Get names and phone numbers of witnesses and passengers.

3. Take pictures at the scene of the accident…of everything; your vehicle, the other vehicle involved, the area the accident happened in, and any personal property that may have been damaged in your vehicle. If the police are there, point out what is damaged to them or to the witnesses.

4. Contact your insurance company and be sure to get the claim number assigned to the case. If the police are called, get a copy of the report and DO NOT sign or admit any guilt.

5. DO NOT ADMIT CAUSE. Don’t admit to doing anything. Even if you think it was your fault, don’t say it to anyone at the scene of the accident.

6. Document everything. If you miss work or school, document the days you missed, the reasons why you missed, and what that day was worth to you financially. Have it signed by someone in authority at work or school.

7. Be sure, if you are injured, to seek medical attention. Keep a journal and record the names, addresses, and phone numbers of doctors, hospitals and clinics. Record the date and reason for each office visit. Make an entry every day in the journal describing any sort of physical, mental or emotional problem you experience which may have been caused by the accident.8. If the other driver’s insurance company contacts you, do not respond. Send their correspondence to your insurance company or attorney, and let them respond on your behalf.

9. Don’t settle for just whatever the insurance company tells you they will pay for the damages to your vehicle or property.10. If there is a significant amount of money involved, consider hiring a lawyer.

Here’s what a couple of folks learned, in their own words:

“I was in an auto accident 3 years ago and I got a settlement. It was not as much as I should have received, but I got all I could. The one thing I learned is that since my major medical insurance paid my medical bills, they had a lien on my settlement. If I had not taken the person to court that was at fault, my major medical insurance company would have gotten the settlement instead of me. Consult with a car accident attorney as soon after an accident as possible so that you know your rights.”

“One thing I have learned from being in an auto accident is that one must remain firm with the other driver’s insurance company. They will try to play games and push time limits etc. Stay on them. Keep track of the times you called and who you spoke to. Then if you have to file a complaint with the Department of Insurance (which we did) or seek the assistance of an attorney, then you have proof of your attempts to communicate and their unwillingness to help.”

If you will follow the advice of those who have “been there done that” then there’s a good chance you won’t screw up your auto accident settlement.

Source by C.L. Hendricks

Like health insurance is very vital to one and all, so is disability insurance. Disability insurance provides cover for occupational hazards that might cause you to have some unexpected accidents while at work. It also provides benefits if you become sick while at work. While companies take good efforts towards ensuring the safety of its employees, there are possibilities of accidents while at work. In such a case, if an employee is not able to report for work due to disability from some injury or illness while at work, disability insurance is provided to compensate for loss of income due to absence. Though disability insurance is typically not equivalent to monthly income, it is provided to cover financial burden while being away from work.

When the expected time of disability is approximately a year or so, social security benefits are given to the person. You become eligible for this if you cannot return to active employment in the entire tenure of leave that is availed due to the disability. The law in the United States has mandated employer-paid disability in every state. The insurance premium is taken from your pay and the insurance covers you in case of any disability. You must know of the various aspects of disability insurance before choosing from the two types of disability insurance plans that are available.

A short-term disability insurance plan is useful for coverage that lasts for a maximum duration of two years. The usual duration of waiting for compensation to begin is approximately around 2 weeks. A long-term disability insurance plan as the name indicates will provide disability coverage for a longer duration of time and in some cases have been approved to be paid throughout the life of the individual. However, these take many weeks to begin and in some cases might take even some months to kick off.

As there are two types of disability insurance plans based on the tenure of coverage, there are also differences in the type of protection the insurance plan offers. Protection is provided as a clause in the insurance plan so that the incapability to get to work during disability should not be a hindrance to you in any way. The two types of protection features are non-cancelable and guaranteed renewable. By non-cancelable clause you get protected from cancellation of the policy for any reasons apart from non-payment of premiums. With such a policy, you will ensure that there is no possibility of losing out on disability benefits. A guaranteed renewable policy ensures that the benefits provided to you will continue every year. The premiums for providing the benefits every year will remain the same and will only increase if there is a general increase of the premium within the bracket.

Although there are several choices while selecting disability insurance, the basic features of each one of them will remain the same. Make sure that you discuss each and every option provided to you in the policy you are choosing so that you will not be in for any surprise if it comes to claiming the benefits of the insurance policy in the unfortunate event of any disability due to illness or injury. It is best to thoroughly research your options in order to safeguard yourself and your family.

Source by Dana B. Smith

As a senior citizen, you may find yourself in a health insurance crisis – no longer covered by an employer’s health insurance policy but needing health insurance more than you ever did before. Of course, Medicare covers some of your medical expenses, but how can you get the best rate on health insurance to cover the gaps Medicare leaves?

What Medicare Covers

Once you are 65 years old, you’re eligible to enroll in Medicare. Medicare can include several programs:

* Medicare Part A, which helps cover inpatient hospital care, nursing home care, hospice care, and some home health care. Most people pay for this coverage through taxes, so they do not pay a deductible or monthly premium.

* Medicare Part B, which helps cover doctors’ services, outpatient hospital care, medical equipment, physical and occupational therapy and some home health care. Most people pay an annual deductible and a monthly premium for this health plan.

* Medicare Part C, Medicare Advantage Plan, which offers you more choices among health plans and extends your benefits.

* Medicare Part D, prescription drug coverage.

In addition, you may need MediGap coverage, which is health insurance that covers what Medicare does not.

Affordable Health Insurance for Senior Citizens

As you can see, health insurance for senior citizens can be confusing. Fortunately, insurance comparison websites can help you gain a clear picture of what health insurance you need, as well as help you find that insurance at a reasonable rate.

All you need to do is go to an insurance comparison website and complete a simple form with information about yourself and your insurance needs. Once you submit the form, you will soon receive quotes for affordable health insurance from multiple A-rated insurance companies. And at the best insurance comparison websites, insurance professionals are standing by to talk with you and answer any health insurance questions you have. (See link below.)

Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get health insurance quotes for senior citizens from top-rated companies and see how much you can save. You can also get more insurance tips there.

Source by ryan@thesatellitetvguide.com

Best Low Life Insurance Premium Quotes Websites List -A Report on Cheap Term Life Insurance
People leave always search for the best life insurance schemes take cover loud finest cost to reduce the burden of the installment.Most of the insurance companies realize the compulsion of the kin and they are donation different kind of policies with affordable premium value to controversy the financial background of the customers. Visit here http://reducelifeinsurancecosts.blogspot.com

The term life insurance policy carries inordinately downcast premium value than the whole force insurance policies. The term life insurance policies and have many other options to blunt the premium by selecting junior coverage and a lower incorporate of the term.Many insurance companies will not even test your health conditions, if the comrade is selecting the construe life insurance meaning with a short span. Otherwise the premium value consign be set on depending on the health condition of the person.The exemplify life insurance can be taken through the period of ten, twenty or thirty years, as you opt to take. The premium of the policy depends on the coverage and the span of the distinguish life insurance.

The term life insurance is powerfully higher quality due to it is toward for many reasons as well as the coverage for the family of the insured person. In addition to the after-death benefits the term agility insurance is more valuable for the protection of the person.It can also body utilized for the buy & dish out agreements, credit guarantee, and benefit plans. If the insured person does not pass away during the term, he will get back the face weight of the policy through an additional mazuma for his dash in the later years.The term life insurance policies are cheaper than the unexpurgated force insurance policies. The coverage of the term insurance policy will be minor than the faultless force policy however it is more beneficial to the insured individual as in fact as his family.The term happening policy covers the life of the insured person besides some times the person may be well-informed even after the expiry of the policy term. direction such cases the insured person can receive the face notability of the insurance.The renewable term life insurance can also be picked with an affordable best value. This type of policy is having the facility to renew for another extended period, regardless of the establish and health condition of the insured person. Visit here http://reducelifeinsurancecosts.blogspot.com

Source by Divya gupta

Looking for a good a dental plan? Here’s how to buy a dental plan online from a top-rated company and get the very best price.

Dental Plan

A dental plan, sometimes called a discount dental plan, is a service whereby members get access to a network of participating dentists and dental specialists who provide their services at a discount. These plans offer a simple and affordable alternative to dental insurance, and are available to individuals, families, groups, and businesses.

Dental Plan vs. Dental Insurance

Unlike dental insurance, dental plans have no pre-existing conditions, no annual limits on coverage, no health restrictions, and no paperwork to deal with. Many plans even cover cosmetic dentistry which most insurance plans do not cover.

Dental Plan Benefits

Some plans let you choose from more than 30 dental plans and more than 100,000 dentists and dental specialists (see link below).

Plans start at less than $80 a year, and you’ll receive discounts from 10% to 60% on dental procedures including cosmetic dentistry.

After you join a discount dental plan you can see a dentist within one to three days, and most plans offer 24-hour, toll-free customer support.

Dental Plan Coverage

Dental plans cover most dental procedures including the following:

* Preventative and restorative care such as check-ups, cleanings, fillings, and crowns.

* Orthodontics and prosthodontic procedures like retainers, braces, dentures, and bridges.

* Endodontic and peridontal procedures such as root canals, root planing, gum surgery, and scaling.

* Cosmetic procedures such as teeth whitening, and veneers.

Visit http://www.LowerRateQuotes.com/dental-plans.html or click on the following link to view dental plans or to buy a dental plan online from an A-rated company. You can get more dental plan tips in their Articles section.

Source by ryan@thesatellitetvguide.com

If you are considering buying a home, its important to understand the insurance that is required. In Florida, you typically need three types of policies including, hazard insurance, wind insurance, and flood insurance. The first two types, hazard and wind, are typically quoted in one premium. While the rates for these two spiked in 2004 and 2005, they have came down significantly since then. However, flood insurance is a different matter and requires further discussion.

The National Flood insurance Program (NFIP) is federally subsidized and administered by the Federal Emergency Management Agency (FEMA). Some key aspects fo NFIP are:

1. Properties across the United States are rated by FEMA and assigned to specific zones based on the properties elevation. For example, AE, V, ZX, etc. Flood zone x is the best. This means that flood insurance is not required in order to obtain most types of financing. However, many people purchase it anyway.

2. In addition to the flood zone, certain areas along the coast are designated to be in “Coastal Barrier Resource Zones” (CBRA). Properties in CBRA zones are not eligible for FEMA Flood insurance. They are third party companies that will provide coverage, but these are very expensive.

3. The majority of flood insurance in the United States is underwritten by the Federal Government. This is a tax payer subsidized program and insurance rates are typically below true economic costs. For example, if a property qualifies for FEMA flood, the premium for any property would typically be less than $1000 per year.

4. FEMA Flood insurance is NOT AVAILABLE in Coastal Barrier Zones regardless of the flood elevation. This is significant, especially for buyers that will be obtaining financing.

5. The alternative to FEMA flood insurance is to purchase coverage from a private insurer. These policies are typically very expensive and price prohibitive for most buyers.

6. If a property is in a flood zone other than X and located in a CBRA zone, you will not be able to obtain conventional or government assisted financing. These means you will either need to pay cash or limit your search to exclude these homes.

If you buy a home, make sure that you determine the flood zone prior to getting too far along in the process. You don’t want to pay for inspections, appraisals, and other expensive items only to find out that the property doesn’t qualify for financing or that your flood insurance premiums will be expensive.

The good news is that there are many homes available that don’t require flood insurance. Practically speaking, buyers should concentrate on these and forget about the perils associated with those located in CBRA zones or flood prone areas. A good real estate broker will be able to point you in the right direction. However, if you do decide to purchase in a CBRA flood zone, make sure the price is discounted to account for the additional risks.

Source by Tim Shepard

Your health is the most important thing in your life.  It is the source of your life, which includes your wealth, your well-being, as well as the people who are important in your life.

If or when you ever come across a situation where illness strikes you or members of your family or loved ones, you want to make sure every option is available to help you.  Nowadays, many options exist. However, it is up to you to make the choice of what you feel fits best for you.

Insurance coverage is very important.  Based on your age, health status, and other important factors, finding the right coverage may be challenging.

Private insurance versus medicare insurance are usually the most common choices for the disabled and the elderly.  Below are a few factors that should be considered.

Cost:

Private Insurance: Varies depending on insurance company Medicare: May have slight changes every year.  Checkout 2010 Medicare & Medicaid premiums.

Coverage:

HMO – Doctors and medical service providers must be chosen within the HMO network.

PPO – Doctors and medical service providers may be chosen in or out of the PPO network.   Medicare – Medicare covers individuals who are 65 years or older, individuals with disabilities, and those who have end stage renal disease.  For more informatiion on coverage details, please visit Medicare.gov or checkout Medicare’s 2010 changes.

Benefits and Disadvantages:

According to an article by The Commonwealth Fund, “private insurance holders are actually less satisfied with health care and more concerned about costs than Medicare beneficiaries.”  Their studies show a higher percentage of satisfaction with Medicare despite the higher cost.  Due to the 2010 increase in Medicare costs, many patients (the elderly in particular), are already changing their Medicare plans to private insurance.

The elderly have a greater need of health insurance due to their increased risk of illnesses and chronic disease. Therefore, finding the answers to the above questions and weighing them carefully should be considered before making a decision.

Source by Karla May

They have an investment value in addition to a life cover for you. The policy holder is issued a certain number of units which are linked to an investment product and have a daily NAV system, quite similar to the working for a mutual fund”.

Sanjay knew how mutual funds worked, but he wanted to understand where the amount would be invested.

“The investment avenues could be equity/debt/liquid funds etc depending on the fund chosen by the investor. Of course, they also carry an insurance value and a life cover for the investor.

Hence, it covers both investments and insurance without the hassles of having to monitor it, and it enables a systematic investment for the client as well” explained Chanakya.

It sounded like the perfect product to Sanjay, but he was the kind of person who did his own research before opting for an investment. After a lot of study, this is what Sanjay found out about ULIPS:-

Types of ULIPS

Broadly, ULIPs are categorized based on the final objective they wish to achieve, and they are:-

1. Wealth Creation

Designed to invest in the equity or debt markets and generate a steady return over a long period of time.

2. Child plans

With the objective of saving for a child’s future, these plans have outflows at predefined intervals to meet those specific goals.

3. Retirement/Pension funds

Pension funds are designed to serve as a cushion for old age, wherein an amount is invested on a regular basis for some period of time. Upon maturity, the investor can buy an annuity fund which will pay back a monthly amount, sort of like a pension, which can be used for managing the day to day expenses.

Advantages of ULIPS

The benefits of opting for a ULIP are:-

1. It provides benefits of insurance as well as investments, thus packing in more features in single product.

2. Convenience of investing and not difficult to manage.

3. Enables goal based investing for specific purposes.

4. Number of free Switches allowed in a year gives flexibility of investing in equity/debt etc. along with multiple fund options.

5. Tax benefit under section 80C for amounts invested.

He now knew the pros and cons of investing in ULIP and by this regard, it seemed beneficial to split the two products rather than looking for a ‘one size fits all’ option.

Even though Mutual Funds offer a lot of simplicity and flexibility in terms of investment options and withdrawal, they simply cannot provide the risk covering capabilities of a ULIP. For long term investors ULIP can be the best available investment avenue. However it is the investor who needs to choose what is best for him depending on his/her financial goals.

The investment space is filled with options and you should look at them, identify your financial needs and then choose the right product.

Source: http://www.basearticles.com/Article/248897/What-is-a-ULIP-and-Why-You-Should-Avoid-Them.html

Source by Ritika Shah

Every truck driver has more than enough experience to be aware of the hazards associated with bad weather, but it is good to be aware of road conditions that may exist in different types of inclement weather and how to respond to those conditions. After all, being prepared for the weather will save time on the road and prevent any kind of loss that will require coverage by your truck insurance.

To begin with, it is important to always be aware of weather conditions along the route. Have alternative routes available in case extreme weather will make it difficult or impossible to take the original route. Listen to local radio and information from other drivers on CB.

Rain
Hydroplaning can occur when there is water on the road, but even a light rain can be quite dangerous. When the road first becomes wet, the oils that have collected are lifted, creating an extremely slick film across the surface of the road. In addition to this, small amounts of water act as a leveling agent, smoothing the normally rough surface of the road, which reduces traction by approximately 30%.
-Visibility can be improved by turning on lights and defroster.
-Avoid sudden changes in speed.
-Try to drive in the tracks of the vehicle ahead of you.
-Puddles often hide deep potholes.
-If the truck begins to hydroplane, keep the steering wheel straight and take your foot off the gas. Do not hit the brakes or try to steer. As the truck slows, it will settle back onto the road.

Flooding
Do not attempt to drive through a flooded roadway. While trucks have a greater weight to handle deeper and stronger waters, there is an increased chance of the floodwater turning the trailer against the momentum of the truck or causing the rig to overturn. If there is a flash flood, Abandon the truck and move to high ground.

Fog
-If you see fog ahead, slow down before entering the fog.

-Use low beam headlights in conjunction with fog lights.
-Turn on defroster and windshield wipers.
-Be alert for slow moving or stopped vehicles ahead.
-It is often helpful to roll down your windows so you can hear other vehicles.
-Stay on the right of the road.
-If the fog is too heavy pull as far off the road to the right as you can without endangering the truck and wait for the fog to lift.

Snow and Ice
-Be aware that bridges and overpasses freeze first.
-Keep the windows clear.
-Maintain a steady and slow speed.
-Be cautious when using brakes.
-Antilock brakes work best when constant, firm pressure is applied. If necessary, push the brake pedal all the way to the floor.
-Remember that your braking area will be between three and twelve times greater than normal.
-If the tires become stuck in snow, straighten the wheels and accelerate slowly. Use sand or cinders under the tires to gain friction.
-In the event of a blizzard, stay in the truck. Leave a window partially open. Make sure that exhaust pipes are clear of snow. Run the engine and heater for ten minutes every hour.

High Winds
During strong winds, remain aware of the movement of your trailer. Also be aware of other drivers around you. Wind conditions can cause smaller vehicles to be sucked under the trailer.

Tornadoes
Never try to outrun a tornado. If a tornado is near, leave the truck and find shelter. If no shelter is available, lay flat in a ditch or depression.

Thunderstorms
Your truck is the safest place during a thunderstorm. When parking, stay away from trees. Watch for down power lines and trees.

Hurricanes
Your route should never pass anywhere near a hurricane watch. Hurricanes approach slowly enough that you should always have time to alter your route.

Source by Joe Trzepla

UK car insurers have reported an increase in the number of individuals providing incorrect or false details when they take out an insurance policy. Telling a few fibs in order to lower the price of car insurance premiums may seem like an easy way to save money but fudging the facts can end up being costly in the long term.

Several different factors can increase or decrease the price of an insurance policy. For example, a car that is parked in a garage may cost less to insure than one parked on the street. It might seem like a good idea to stretch the truth about such a detail but in reality this would constitute as insurance fraud which holds serious financial and legal implications.

Fraud is committed when a false insurance claim is submitted or an insurance application is completed using untrue or incomplete information, even down to finer details such as your contact details.

Other common occurrences of fraud include not disclosing driving convictions or previous claims, not telling insurers about modifications that affect a car’s safety or value, or providing a false address to where the car is stored.

If you are applying for an insurance policy using the internet or over the telephone then pay attention to details and make sure all the information you provide in noted correctly. It is possible for omissions to happen accidentally and you might not even realise some of your details are incorrect unless you double check everything.

Forgetting to disclose information doesn’t necessarily get you off the hook so make sure you don’t unintentionally commit fraud. Check the finer details and remember to inform your insurance provider of any changes to your address, name or other important policy information.

Car insurance scams are also something to be aware of. Professional fraudsters try to dupe insurance providers out of thousands of pounds in a variety of ways.

A classic maneuver by scam artists is to cut in front of your vehicle and then brake sharply, causing you to crash into the rear end of their vehicle. You appear to be the driver at fault and must file a claim with your insurance company to pay for treatment of any alleged injuries as well as repair of the other vehicle.

In order to protect yourself from car insurance fraud keep a disposable camera, pen and some paper in your glove box so you can accurately account for any accidents you are involved in.

Photographs are particularly useful when trying to protect yourself against insurance scams and if you are involved in an accident, whether you think it is staged or not, try to record as much information as you can about all details of the situation.

If you think you’ve witnessed car insurance fraud then contact you insurance provider immediately and you may want to contact the police as well.

Source by vicky.cochrane.uk@googlemail.com

Don’t be fooled by its name—social security disability insurance is unlike most other insurance policies. A wage replacement income for eligible individuals paid for by the Federal Insurance Contributions Act, SSDI does not require you to spend any time comparing multiple quotes online to find the cheapest premium. Instead of you having to pay for the service, FICA takes care of it.

If you have worked and paid FICA taxes, then you could be eligible for social security disability insurance. Your family will prosper from attractive benefits if you ever become disabled or pass away.

Eligibility requirements for social security disability insurance include:

1. You have paid your dues by paying FICA taxes for an extended period of time
2. You have earned a minimum of $1,090 and paid FICA taxes in a three-month period
3. You can earn a total of four work credits in one year
4. The number of work credits needed to qualify for social security disability insurance depends on your age when you become disabled

Contact your Social Security office to find the exact ages and work credits needed to qualify for social security disability insurance. Although it’s a rewarding service, the application process can take up to six months to go through. On top of that, you’ll have to wait a full five months after you become disabled for your beneficiary to see any of your assets.

Get Expert Help with Social Security Disability Insurance

Don’t just assume that social security disability insurance is like other insurance policies. The process to acquire it is completely different, so contact your Social Security office today to help steer you in the right direction.

Staff contribution: Rafael Onak

Source by Tom Lustina

Keeping health insurance after a layoff without government assistance would eat up 72 cents of every dollar of unemployment benefits for average Kansas workers and their families.

And the expiration of such assistance in the federal stimulus act threatens to push millions of laid-off workers nationwide into the ranks of the uninsured.

Those are the conclusions of a new report by Families USA, a Washington-based nonprofit, nonpartisan group that advocates for health consumers.

The report, which will be released today in Washington, expresses concern over the expiration of a health-insurance benefit — funded by federal stimulus dollars — for workers laid off between March and December of this year.

Ordinarily, workers who leave a job can continue to receive coverage from their former employer’s insurance plan under a law known as “COBRA” — the Consolidated Omnibus Budget Reconciliation Act.

But COBRA coverage is expensive because the displaced worker has to pay the full premium, including what had been the employer’s share of the cost.

Under the federal economic stimulus bill, the government agreed to pick up 65 percent of the cost of COBRA coverage for as much as nine months for workers displaced by the ongoing economic recession.

But eligibility expired Monday for the first workers to get the COBRA assistance, those who joined the program in March.

And, as the law is currently framed, workers laid off after Dec. 31 will not receive any government help with their COBRA costs.

An estimated 7 million laid-off workers nationwide took advantage of the COBRA-assistance offer.

The exact number of Kansans affected is not available. Federal and state labor, insurance and tax officials could not provide a state-by-state breakdown.

Cost to laid-off Kansans

Families USA analyzed how losing the government assistance will affect individual families.

According to its report, the average cost of insuring a family through COBRA is $369 a month with the government subsidy.

Without it, that cost rises to an average of $1,054 a month — a $685 difference.

The average unemployment benefit in Kansas is $1,465, meaning that without the COBRA subsidy, health insurance alone would consume 71.9 percent of an unemployed family’s income, Families USA calculated.

Ending the subsidy will mean “putting continued health coverage out of reach for most families,” Families USA concluded.

Congress is considering a bill to extend the COBRA subsidy, said Molly Haase, an aide to Sen. Pat Roberts, R-Kan.

Sen. Sherrod Brown, D-Ohio, has introduced Senate Bill 2730 to extend COBRA subsidy eligibility through June 20, 2010.

The bill also would reduce the unemployed worker’s co-payment from 35 percent to 25 percent and extend benefit eligibility from nine months to 15 months, Haase said.

The bill is before the Senate Finance Committee, she said.

Losing the government benefit would make it extremely difficult — in many cases impossible — for laid-off Kansans to continue to provide health coverage for their families, said Bob Brewer, Midwest director for the Society of Professional Engineering Employees in Aerospace.

In Kansas, layoffs of SPEEA’s workers didn’t start until October, so its members will continue to receive benefits for several more months, Brewer said.

However, he added that he expects more layoffs in early 2010 at Boeing and Spirit AeroSystems, and he hopes the COBRA subsidy will be reinstated in time for those workers to continue coverage.

Clinics already burdened

An increase in uninsured Kansans would put more pressure on already heavily burdened low-cost clinics in Wichita.

Dave Sanford, executive director of GraceMed in Wichita, said his clinic is already seeing a rise in patients that is outstripping its ability to get enough providers to serve them.

Even with COBRA subsidies available, many displaced workers are “basically rolling the dice, hoping they don’t have a catastrophic problem until they get called back or they get another job,” he said.

For now, GraceMed is dealing with the crunch by setting appointment times for people with more urgent health problems and extending the wait to get an appointment for routine care, Sanford said.

The clinic also is trying to find doctors willing to moonlight at the clinic in the evenings and on weekends, he said.

People who find their COBRA expiring can comparison shop to try to find a lower-cost policy, said Bob Hanson of the state Insurance Department.

The department maintains a list of insurers licensed to sell medical coverage in Kansas at www.ksinsurance.org/consumers/majmed.htm.

The department also is warning consumers to be wary of companies marketing health plans that seem unrealistically cheap, Hanson said.

“Many companies writing very limited health policies, or noninsurance discount plans, are finding a market for those desperate for low-cost insurance,” Hanson said.

Source by Health Insurance

We recently represented two clients involved in a car accident. We sat down in our office with the driver and passenger. We asked the driver what type of insurance policy he had purchased, and specifically whether he had purchased “full tort” and whether he had purchased “uninsured motorist coverage.” Our driver client told us that he thought he purchased “full coverage” but beyond that he had no idea what we were talking about. The passenger in the car lived with his grandmother who owned her own car and had it insured. The passenger client did not own his own car. The accident occurred when the driver of another car crossed over the center line of traffic and hit the car in which our two clients were traveling, head on, causing injuries to both of them.

The other driver, (the “at fault” driver), was uninsured, which meant that he did not carry auto insurance coverage on his car. He was also “judgment proof” meaning that even if we went to court and obtained a judgment against him, he owned no property or had no other insurance which could pay the court judgment.

As it turned out, our client who was the driver client had purchased an automobile insurance policy which was “limited tort.” He also did not purchase “uninsured motorist coverage.” Our passenger client’s grandmother had purchased a full tort policy and had purchased uninsured motorist coverage. We were therefore able to make a claim for the passenger, but not for the driver.

Why? In Pennsylvania, when purchasing an auto insurance policy, there are numerous options to consider. Insurance companies are willing to sell you an insurance policy, but they don’t go on to explain which coverages are better and which coverages are worse.

By far, there are four major parts of your auto insurance policy that you must understand: liability coverage, uninsured motorist coverage (UM), underinsured motorist coverage (UIM) and full tort/limited tort coverage.

Liability insurance protects you and your assets if you cause injury to someone else in a car accident where you are at fault. Your insurance company will defend you, and will hire an attorney for you, at no cost to you, if a lawsuit is filed against you, in order to pay the injured person up to the limit of the liability coverage that you purchased.

Full tort coverage means that you and your family members have unlimited access to the court system to seek compensation for personal injuries from a car wreck. Limited tort means that for a lower premium, usually about $100-$200 less per year, you and your family members have a very limited access to the court system if you are claiming compensation for personal injuries following a car wreck. In real terms, if a person who has purchased limited tort coverage does not have debilitating and disabling injuries, e.g.; broken bones requiring surgical repair, herniated disks in the spine requiring surgical repair, then they have no claim. There are very few exceptions to limited tort coverage. Full tort coverage is not limiting at all. Full tort coverage is the better coverage, hands down, and should be the only choice when purchasing auto insurance in Pennsylvania. When the insurance agent or the insurance company has you sign on documents requesting either full tort or limited tort coverage you have to specifically sign for the coverage you want. Our recommendation is absolutely to purchase full tort coverage. Make sure that you sign the proper portion of the form the agent or insurance company provides you for full tort coverage. The form can be somewhat confusing and therefore it is crucial when signing the form that you know what you are purchasing. Or course, if you have any questions about what or where to sign, we’ll help you.

Liability coverage is usually listed on your auto insurance policy declaration page as “bodily injury” coverage, and is reflected as follows: $15,000/$30,000.

When bodily injury coverage is expressed that way it means that you have purchased liability coverage in the amount of $15,000 “per person” injured in the accident. The $30,000 number means that there is $30,000 available in total for any number of people who were involved in a car accident who are seeking a claim against you. So, for instance, if there are three people involved in the accident, and you were at fault in the accident, and all three people have filed suit against you, the most any one person could get from your insurance policy would be $15,000, and all three of the injured people would have to divide the $30,000 in available liability coverage from your policy. A $15,000/$30,000 policy is the minimal amount that can be written in Pennsylvania. Of course, you can ask for and purchase much higher aggregates of coverage by requesting that from your agent or insurance company. In this example, if any one person’s injuries exceeded $15,000 in value, (in other words if the jury awarded the injured person an amount of money that exceeded $15,000), or if the entire claim of all the people involved in the accident exceeded $30,000, you would be responsible for the amount that your insurance policy did not cover you for in liability coverage.

How about uninsured motorist coverage? That protects you and your family in the event you or your family members are injured in a car wreck by an “uninsured motorist.” An uninsured motorist is the bad guy/at fault driver described at the top of this article. An uninsured motorist may also defined as a drunk driver who doesn’t carry his own coverage, or by a hit-and-run driver who flees to scene of an accident. Therefore, if you purchased uninsured motorist coverage on your car insurance policy, your insurance company steps into the shoes of the at fault driver and you can make a claim for compensation for your injuries and damages up to the limits of the amount of coverage that you purchased in UM benefits.

How much coverage in uninsured motorist coverage should you purchase? As much as you can afford and as much as the insurance company will sell you! Having UM coverage is one very important way that you can protect yourself and your family in a car accident case. It can assure you that the medical bills and future expenses caused by injuries from an uninsured driver can be paid for. And here is the big surprise. You can buy very large amounts of UM coverage from your insurance company for a very small amount of money. Why won’t insurance companies tell you this? Because they don’t make a lot of money on the insurance premiums for UM coverage, but it is a great coverage for you. Consider the fact that by some estimates close to 50% of the driving population in or around Philadelphia is uninsured. That means if you or your family members are involved in a car accident, you stand a very high chance of being injured by someone who is uninsured.

How about underinsured motorist coverage? UIM coverage protects you and your family in the event the at fault driver did not carry enough insurance coverage. Let’s say the at fault driver had a $15,000/$30,000 liability policy. And, let’s say you and your family members all had injuries that exceeded $30,000 in value. Under that scenario, you would be able to collect $30,000 in coverage from the at fault driver’s insurance policy ($15,000 maximum per person) and then you would be able to make a claim against your own insurance company for UIM benefits up to the amount that you purchased in UIM benefits. The same rules apply in terms of how much UIM coverage you should purchase as with UM coverage. Buy as much as you can afford and as much as the insurance company will sell you. It is a very inexpensive purchase for you, the insurance company doesn’t make a lot of money on that coverage, and they don’t tell you about how valuable it is.

UM and UIM coverage is not mandatory in Pennsylvania. It is optional. That means when you are sold an insurance policy in Pennsylvania unless you ask for this coverage, you won’t be able to get it. The insurance company or the agent will simply have you sign a form stating that you “waived” the coverage. Don’t waive UM or UIM coverage. And make sure you complete the form and sign off for UM and UIM coverage.

The same is true with full tort coverage. Unless you know to ask for that coverage the agent or the insurance company probably won’t offer to sell you that coverage. Instead, they will have you sign a form saying that you “waive” full tort coverage, and instead they will have you sign off on and purchase limited tort coverage. You don’t want limited tort coverage. You want full tort coverage.

There are other coverages that are also available when you purchase an insurance policy in Pennsylvania. None of them are as important as the ones that we just discussed. However, you should also be aware that under Pennsylvania law, your auto insurance policy covers medical expenses for you or your family members who are injured in a car accident. The minimal amount of medical coverage is $5,000, but you can also purchase higher amounts. It is always a good idea to purchase additional amounts of medical coverage, but you should also keep in mind if you have health insurance benefits your health insurance benefits will come into play in the event your $5,000 in medical coverage is “exhausted” or paid out. Medical benefit coverage is mandatory in Pennsylvania, meaning the insurance company must sell you at least $5,000 in medical benefits.

Income loss benefits provides coverage for lost wages in the event you miss time from work following an accident. This is an optional coverage. The insurance company does not have to sell it to you. Again, you have to know to ask for this coverage. Pennsylvania law permits reimbursement of 80% of your gross income, typically up to $5,000 in income loss benefits. You can purchase higher amounts if you ask the insurance company or the insurance agent to sell you higher amounts of income loss benefits.

Collision coverage and comprehensive coverage are also optional. Collision coverage allows you to be reimbursed the “book’ value of your car if damaged in an accident. Comprehensive coverage is the insurance benefit on your policy that allowed you to be paid for the value of your car if it is stolen. Both of these coverages carry deductibles, meaning that if you have a $500 deductible and the “book” value of your vehicle is $1,000 your insurance company will pay you $500. Raising the deductible on your collision and comprehensive coverage will lower your premium.

Rental coverage is also optional. Typically your insurance company will sell you rental coverage at something like $25 per day. What they don’t tell you is that if your car is in the shop for repairs for more than approximately 30 days they won’t pay you for the additional days that you are using a rental car. For this reason, we advise all of our clients to do their very best to limit the use of a rental car following a car accident.

Source by Stuart Carpey

Car insurance companies are often well aware of trends that are occurring that may affect their risk exposure, and texting while driving is proving to be quite a deadly combination.  With over 160 million cell phone users in the United States alone, the potential to be involved in an accident with a distracted driver is incredibly high.  In fact, it is so high that car insurance providers are struggling to develop a plan that will help protect them from an onslaught of accident claims.

Many car insurance companies have determined that one of the most important ways to combat distracted driving is to support the efforts of various law enforcement agencies.  Legislators are rushing to create laws against texting while driving, and most car insurance providers think that it simply cannot come soon enough.  Recent studies by the Department of Transportation suggest that as any as 2600 deaths and 330,000 injuries have been the result of cell phone using drivers.  These staggering numbers are quite concerning and action is needed as soon as possible.

Some car insurance companies have begun advertising campaigns that strongly discourage the use of cell phones while driving, but there really is no way to tell if the effort is accomplishing anything.  Few customers realize that the ever increasing number of accidents is only going to cause insurance companies to pay for more costly claims.  Higher risk for car insurance companies almost always means higher rates and premiums for consumers.

Although the most troubling side effect of a strong incidence of texting while driving incidence is the injuries and deaths caused, the fact that many people are going to be facing much higher car insurance costs is fairly negative as well.  In other words, any efforts to reduce or eliminate cell phone distractions will actually help decrease the cost of car insurance.

Source by Frank Topol

Benefits for the jobless are not welfare!

Even in these hard economic times, a lot of folks get confused about unemployment benefits and just exactly what they are.  Some people don’t claim benefits at first because they’re too proud to take a “handout.”  This is not a handout!  It’s insurance.  If you crashed your car, you would let the insurance company pay.  If you had to be hospitalized, you would let the insurance company pay.  When you lose your job, you should let the “insurance company” pay because you have been paying into “the policy.”

A post by a guest blogger on my own blog, “Health insurance for the unemployed,” got me thinking about insurance in general.  We use the word all the time with little concept of what it really is.

The best way to think about insurance is as gambling in reverse.  If bet money in a casino, you’re betting (foolishly since every game in there is rigged against you) that your luck will be better than the casino’s system.  When you buy insurance, you’re hedging against bad luck.  If you die before your life insurance policy expires, you win — lucky you!  

Insurance spreads risk.  That’s all it does.  When 1,000 people buy an auto insurance policy for $1,000 a year, that gives the insurance company $1 million to play with to pay for damages in accidents caused by policy holders.  If the total damage caused by those accidents is under a million bucks, the insurance company makes a profit, and the people who bought the policies don’t lose their shirts.  Everybody wins except the responsible drivers who buy the policies and never have accidents (That was me back when I had a car, and boy did I resent it!  That’s part of the reason I don’t drive anymore).  Fair, right?  

Unemployment insurance is the same darn thing.  Everyone pays into it when they have a job.  Those people who lose their jobs and collect are like the people who die before their life insurance policy expires — the “lucky” ones.

My advice to any proud person out there who does not want to collect unemployment is this:  <b>Take the money!</b>  There is nothing to be ashamed about in collecting your unemployment insurance benefit.

Source by Chuck Lin