Life insurance can help you provide the extra cash that protects your estate from being gouged by estate taxes. This article shows you a couple of ways it can do this.

*Get cash for settling estate costs and preserving your holdings intact:

At your death, estate taxes are imposed on the value of what you own. If you’re married, these may be delayed until your spouse’s death. Other costs such as funeral expenses, debt settlement, and administration fees can add to the need to have cash.

Life insurance can supply this cash. Other than cash on hand, no asset can provide such a predictable and immediate influx of dollars to pay the costs of dying as can insurance.

Without available cash your estate may have to liquidate your investments or business interests to pay estate taxes. Such untimely liquidation can cause irreparable losses and opportunities. To maintain your estate’s investment holdings or business intact so they pass on to your children, you or your spouse may purchase insurance to alleviate having to liquidate those precious holdings.

If you’re married, survivorship life insurance generally is used to provide liquidity for final expenses when the second one of you dies.

*Make that charitable gift and still transfer your wealth to your children:

You can combine charitable giving with life insurance to make the donations you always wanted to. And you can do this without reducing the wealth you want to pass on to your beneficiaries. Here’s how it works…

You can – if you have the wealth – give a substantial lifetime gift of appreciated property to a qualified charity. This gifting generates a significant income tax deduction. With the income tax savings you get from this deduction, you can purchase life insurance whose proceeds at your death will replace the very wealth that you gave to charity. It’s like eating your cake and giving it away too.

*Foregoing ownership of life insurance will further reduce your estate taxes:

In both these examples, if you maintain ownership of the life insurance, then its death proceeds would be added to the value of your estate. This, in turn, would add to the estate tax on your estate. Realize that though life insurance proceeds are free of income tax, your ownership of the life insurance makes those proceeds part of the value to your estate – and therefore subject to estate tax at your death.

You can avoid that estate tax on those life insurance proceeds if you don’t own the life insurance. So you can eliminate ownership of that life insurance either by giving it away at least 3 years before your death or by having some other person or legal entity to purchase and own in the first place.

Without your ownership of the life insurance on you its proceeds can still be used for paying all those final expenses without adding those proceeds to your estate subject to estate tax. Trusts are common legal entities for purchasing and owning life insurance in such circumstance.

Source by Shane Flait

There are several types and classes of  life insurance beneficiaries and I’m going to do my best to explain each clearly and in an understandable way. There are three main types that you should understand as this is a very important part of your insurance contract.

Primary beneficiaries have the first claim to the proceeds of the life policy following the death of the insured. The owner of the policy (policyowner) may specify more than one primary beneficiary and how the proceeds are divided between each. There is no limit to the number of people that can be listed so if you have 5 children, list them all and tell the insurance company exactly how you want the money divided.

Secondary beneficiaries which are commonly know as, contingent beneficiaries have the second claim IF the primary dies BEFORE the person that is insured does. Contingent beneficiaries do not receive any proceeds from the death of the insured if the primary is still living. Many people make the mistake of listing a secondary beneficiary assuming that the money will be divided between the primary and secondary. This is obviously incorrect.

Tertiary beneficiaries, less commonly known are third in line and receive proceeds if the primary and secondary have predeceased the insured.

If none of the beneficiaries are still living at the time of the insured’s death or if no beneficiary was specified in the policy,  the proceeds will be paid to the insured’s estate (liabilities and assets left by the insured), automatically.

Beneficiary designations can be either revocable or irrevocable. The owner of the policy may change a revocable beneficiary without the beneficiary’s consent. An irrevocable beneficiary is one that once listed in the policy, cannot be changed without the beneficiary’s consent.

Per Capita and Per Stirpes are class designations used to cite a particular grouping to be beneficiary. This is commonly referred to as “all my children”.  When applying for life insurance it’s very important to specifically specify exactly how you want the proceeds of the policy to be divided to prevent any conflict that may arise after your death and to be sure that your final wishes are executed as desired.

Per Capita, which means “by the head”, distributes the proceeds evenly amond living named persons in the policy. Per Stirpes, with means “by the bloodline”, distributes benefits of a beneficiary that died before the insured’s heirs.

Policyowners can change beneficiaries at will unless a person has been listed as being irrevocable.

There are many types of insurance policies to choose from and it’s always best to make sure that you know what you’re getting into. Comparing the details of policies from different companies, side by side, is the best way to make certain that you are getting the fair end of the bargain and that your beneficiaries can be listed without restriction.

http://www.lifeinsurance4all.com is a free tool that you can use to instantly compare life insurance quotes from the nation’s top insurers.

Christy Love is a retired life insurance agent with over 30 years of experience in helping people protect what matters most… their families. As an Ezinearticles.com expert author, Christy enjoys sharing her knowledge of life insurance with the online community.

Article Source: http://EzineArticles.com/?expert=Christy_Love

Source by Christy Love

All insurance contracts are governed by the concept of ‘offer and acceptance’. This requires you to fill the proposal form and send it to the insurance company. Sometimes you are also required to attach a check for the premium amount, with the proposal form.

Your filling the proposal form and sending it to the insurance company is the ‘offer’ and when the insurance company accepts your proposal it is the ‘acceptance’ part of the concept. The amount you pay as premium is considered as the ‘consideration’ part of the contract. The concept of ‘legal capacity’ also applies to insurance contracts. It requires both the parties to be legally capable of entering a contract. Your insurance contract is based on ‘legal purpose’, which means that the contact is not meant for encouraging illegal activities. The other legal principles that govern the contracts are:

Principle of Indemnity:

This principle requires the insurer to pay an amount, not more than the actual loss suffered, in case of loss. The amount paid as claim by the insurance company should not be more than the sum assured in the insurance contract. The aim is to provide a claim amount that will help the claimant to regain the lost financial position. In some indemnity contracts, the amount payable by the insurance company is subject to the amount of actual loss. Some indemnity contracts also have a provision for the claim to be paid only if the actual loss exceeds a certain amount. For example, in an auto insurance contract of 3000 dollars, you would be eligible for the claim amount only if your actual loss exceeds 3000 dollars. In case, the actual loss amount is below 3000 dollars, you would be liable to bear all the costs.

Insurable Interest

In this insurance cover, the insurance contract covers only those properties or events specified at the time of investment. For example, if you live in your uncle’s house and apply for a homeowners’ insurance, the insurance company will reject the claim, since you are not the owner of the property and do not suffer any personal financial loss in case the house gets damaged.

Principle of Subrogation

The principle of subrogation enables the insured to claim the amount from the third party responsible for the loss. It allows the insurer to pursue legal methods to recover the amount of loss, which the company has paid the insured via the insurance claim. For example, if you get injured in a road accident, due to reckless driving of a third party, the insurance company will compensate your loss and will also sue the third party to recover the money paid as claim.

Doctrine of utmost good faith

This means that both the parties are expected to disclose any information, important to the contract. For example, when applying for life insurance, it is your duty to disclose any permanent ailments that you might have. Likewise, your insurer also is expected to be clear on the illnesses that are not covered under the contract.

Once you become familiar with the principles, you will be able to understand the scope of your insurance contract. This makes you independent of the insurance advisor.

Source by Joseph Kenny

The key to success with life insurance sales leads that are generated by a 3rd party lead company is to devise a plan of action. Most agents who use leads fail to handle them effectively enough to be profitable. Here are ten steps for an insurance agent to follow to make a profit with sales leads.

1. Select the type of life insurance sales leads you want. For instance, there are insurance sales leads that are generated by mail, fax, internet websites, etc. Each lead type has its advantages and disadvantages. Also, decide whether you want to work with exclusive life insurance sales leads, or shared sales leads.

2. Determine the quantity of leads you can afford to purchase over a 60-90 day period before you receive any commissions from your initial sales. Typically, underwriting, approving, and getting paid on a life insurance policy will take at least 60-90 days. Therefore, you will need to fund your lead purchases over this period of time before you have commissions to re-invest in leads from profits instead of your pockets.

3. Select a lead company with a reputation for generating responsive leads. Ideally, you should get references from an agent(s) who has experience working the leads generated by the company you’re considering. If references are not available, ask the lead company for several complimentary leads for you to experience first-hand how responsive they are,

4. Always follow-up with your leads quickly after receiving them, preferably within 1-2 hours. Sales leads become stale if they aren’t contacted immediately.

5. Use a follow-up phone script that quickly engages the sales lead in a professional yet friendly manner. Sales leads do not know who you are, and are quick to judge you by how you handle yourself in the first 15-20 seconds on the phone.

6. Close your lead effectively in a manner that allows the lead to decide to do business with you. Sales leads want you to advise them on what options they have, but they want to make the final purchase decision.

7. Have a step-by-step plan of action for your lead to follow to proceed once they have made a decision to purchase one of your recommendations. Your prospective policyholder should always be aware of the next step in the process.

8. Monitor the underwriting of the case to make sure it proceeds without problems or delays. Be sure to update your prospective policyholder often on the progress of underwriting their policy.

9. Deliver approved policies and complete all delivery requirements quickly so that you are paid. Be sure to maintain records of commission income vs. lead expense to track your profitability.

10. Always re-invest a portion of your commissions in additional life insurance sales leads to continue the selling cycle. Your program should be self-sustaining after the initial 60-90 days of selling to your leads.

Attempting to sell leads without a plan almost always results in frustration and wasted money on leads. However, these ten steps can provide a working outline for any insurance agent wanting to profit from selling life insurance sales leads

Source by John L Thomas

With commercial trucks cruising over the highways around the state and beyond, you might be without the benefit of some hours of deep sleep. There are sufficient vehicles that can cause you to be worry. You can’t ever be certain how safe they can be at any time. The prospect of a telephone call during the night time informing you associated with a truck’s mishap is superior to any stimulant to rid you of drowsiness. Of course, those are investments out of their vulnerable on the road. These are especially beyond your control. It will stay as such, unless you get a reliable a semi truck insurance policies each unit.

Much like being certain every property of strategic importance to your business is protected by insurance, it is usually important to do an identical with trucks. Three things help it become valuable: the driver, the truck itself, and then the cargo it’s always full of. If every one of these are affected by a mishap, you certainly will easily be in great trouble. While you’ll definitely cover any cost for a truck’s damages, you cannot reject the fact that drivers in addition to products may be the position. This is when important having a semi truck insurance is. With out them, you will end up deducting amounts from your very own company’s net gain. Thus, leaving your transport equipment without such coverage is indeed a poor business decision.

If you want to get the most affordable semi truck insurance rates for your truck, then simply prevent the sticking with things in mind:
1. Safety first – Keep your truck and all its parts, (tires, breaks, engine) in good working condition. Trucks that are residing in good condition typically receive lower premiums.
2. Pass the DOT inspection – You cannot get your semi truck insurance without meeting the requirements of this Department of Transportation.

3. Clean driving history – This can be the most common, but most effective way to lower premiums for any kind of auto insurance. However, for trucks, you may need to undergo certain trainings to qualify for insurance.
4. Get cargo insurance – This is a specific kind of insurance that may take care of the cargo with the truck in case of an accident. You can still find certain details to be talked about concerning this policy.
5. Keep previous records – Your insurance provider may ask if you have already applied for semi truck insurance in another company. They may also seek main reasons why you.

It’s possible you’ll approach a non specialist insurance vendor on your semi truck insurance. There are numerous formalities with your policy that could be small, but are vitally important. There are different insurance rules and laws of different governments and also the freight instructions for the truck should correspond to the species of insurance they’ve already. As an illustration, truck insurance may need specialized modifications if the truck shall be carrying specific freight which it for you to carry earlier.

Finally, an excellent Semi truck insurance coverage might also want to records protection should the trucks are carrying potentially toxic or dangerous materials. A mishap involving a commercial big rig transporting toxic materials can spell ecological disaster. To help minimize the opportunity damage brought by this example, insurance providers often have to spend millions to completely clean up spills and avoid ecological tragedies. Insurers also have to protect them clients from any lawsuits resulting from such incidents.

Source by clydehess

It is usually a smart proceed to safe your future with insurances. If car insurances are required to many States in the US, and then health insurances are just as vital. In Florida exclusively, there are so many insurance agencies that offer health securities for you personally and your family. To search out them, just look for them on the net or maybe if you might have much time to travel to the local insurance department, you can. You may also go straight to an insurance company of your choice.

For Florida Health Insurance Policies, we have an person or a family group health care coverage. There’s also dental insurances, short term medical insurance, Health lower price cards, student health insurance, heath savings accounts and the Medicare. For small business owners, there is an available small business health insurance for your employees.

Individual and family life coverage may be obtained in different premium rates depending on age of the family members. Most family health coverage look into the age of the littlest person in the family; the younger the child, the lesser premium you are going to pay. Having said that, if you are only after protecting yourself and your husband or wife, it might be a much better solution to use individual health coverage rather than buying a family insurance for the both of you.

The Florida dental insurance can be acquired at a monthly premium and would generally cover for almost all edges linked to dental health. A Short term health insurance in Florida in general handles for your health fees to get a certain period. A Florida Medical Discount Card alternatively may not be a complete option to the general protection of a final health insurance, but it will help you with paying for medications, eye care and some other medical services.

If parents already have their life coverage, students in Florida can also be engrossed in health insurance of their own. This type of insurance is actually good for those people who are in college and are members of the school varsity or any kind of hobby relevant activities. This type of insurance may cover for emergency room costs and assist with cost for minimal accidents.

Florida also provides Health Savings Accounts, which essentially make use of taxes to save for the health coverage and retirement bills. For the seniors, Florida presents them with Medicare health insurance. People who are younger than 65 years can certainly be covered by the Medicare, only when they can be shown to have medical conditions. Florida now offers health plan for small business employees and he loved ones of the employees, which may probably come as a family health insurance for employees.

There is a lot of affordable health insurance Florida can provide you with. You just need to be definitely patient to have the confindence to find them. It is advisable to learn that neither the cheapest nor the most expensive types of health coverage are the best to acquire. What is important is that the Health Coverage you could have would be able to present you with what you would need in the future.

You can expect the best info about Florida Health Insurance Plans and Affordable Health Insurance Florida. Additional information kindly visit the provided links.

Source by Alelie Pyton

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Millions of Americans each year are diagnosed with Diabetes, and almost everyone knows someone who is suffering from the life altering disease. More than 20 million Americans are living with Diabetes today. Diabetes is a metabolism disorder, and for people who have Diabetes the body has a problem breaking down and digesting food. This is because food that we eat is broken down into a sugar called Glucose, which is the main way a body fuels itself. The way that Glucose works is that it goes into the bloodstream through Insulin, which is a hormone that comes from the Pancreas. The Pancreas matches up the appropriate amount of Glucose to move the mood into our blood stream, but for people with Diabetes the Pancreas does not produce Insulin at all or produces very little. This causes the body to lose its main way of getting energy and fuel which is called Diabetes.

For the millions of people who are suffering from this Disease the costs can become very expensive for the monthly purchases of Insulin and other drugs needed to keep Diabetes under control, and for many people these costs are unaffordable. Diabetes is most common in adults over the age of 60, this is when most people are starting to retire. This is a problem because for people who are nearing retirement it may be very hard to find affordable health insurance. Affordable health insurance is so difficult to find for people who are around this age because many elderly people plan to wait until age 64 to be covered by Medicare. The problem with that is illnesses don’t wait for people to turn 64 to set in, for many people Diabetes can start much earlier and can cause huge financial problems if you do not have affordable health insurance.

Although Diabetes can be effectively managed medical supplies are necessary to follow and check glucose levels. The only problem with this is that it may cost hundreds of dollars in just a single month to check Glucose levels for one person. In recent studies it was found that people without affordable health insurance were more likely to mismanage their diabetes, which had debilitating consequences on thousands of lives. It was also found that adults without affordable health insurance were considered high-risk for developing complications due to the lack of treatment of diabetes. This is very dangerous seeing that the side effects and complications of Diabetes can be very severe and sometimes life threatening. With all these problems with health insurance in the United States it is really necessary to take a hard look at our health care system, and realize that in many areas the health care coverage system isn’t adequately covering Diabetes patients.

Source by Ronnie Hamilton

Disability insurance is one of the most overlooked types of insurance. People will provide insurance for their cars and their property, but they often overlook the risks of everyday life on their families. Disability insurance provides you with funds when you cannot work to help pay for your household expenditures.

Why do the majority of individuals pass by this kind of cover?

While there is no way to know, it is often thought that people have the idea that they will not get hurt and they will be able to work as long as they would like. Unfortunately, this does not occur for most individuals.

People become ill or are involved in accidents without any warning, which could devastate a family that is dependent on their family for financial stability.

Disability insurance is often purchased as part of life insurance coverage, but can be sold separately. This is often called total and permanent disability insurance. It gives you finance to take care of your expenses if you cannot work.

There are also some disability insurance plans that provide for temporary coverage, but this may also be provided by your health provider or your worker’s compensation (should you be hurt on the job). This type of temporary coverage is called income protection insurance.

Coverage Under Disability Insurance:

Coverage under disability insurance will range based on the policy you select to use. This type of insurance will range widely from lump sum payments to monthly payments. The payout will happen when you are unable to work. Yet, it often will take at least six months after you have been deemed to be unable to work again for the disability insurance to kick in.

When getting disability insurance, be sure to consider payments that occur over your lifetime as one of the best ways to manage financial goals when you cannot work. There may be lifetime limits on this type of insurance, and there may be restrictions on what type of disability will be qualified. For example, if you are unable to work at your current position, your insurance provider may not pay out unless you cannot work in any reasonable position.

Questions for Your Provider:

When talking to your provider for disability insurance, there are a number of questions to ask the provider to know what your policy will and will not provide.

* How do premiums change over time? Premiums for disability insurance will generally be the same throughout your life, but should be carefully considered against inflation.

* When are premiums paid? Some disability insurance companies allow you to choose how often you will make payment on your disability insurance. This is usually monthly or on a fortnightly routine.

* What restrictions are in place with insurance? The policy may have a specific amount that it will pay out as the maximum for your needs.

* What types of disability qualify for a claim?

These are just some of the questions you need to ask your disability insurance provider to get the best policy for you.

Ways to Save on Disability Insurance:

Disability insurance will range in price depending on the risks you have. For example, if you work in a position where there is more risk of you being hurt or injured severely, you may have to pay more for your insurance.

You may be able to lower the amount you pay in premiums on your disability insurance by combining the cost of this policy with others. There are several other types of insurance protection that could be included with your disability insurance. The most common type is life insurance.

It is also helpful to get quotes from several insurance companies to find out what the costs to you are for disability insurance. When comparing these types of insurance, be sure to compare like policies between companies. Also, lower or raise the cover amount to match your needs. While it is tempting to lower the amount you will receive at payout to get a lower payment on the insurance, this could be costly when you need to use those funds.

Beware Before Signing:

When it comes time to sign your disability insurance contract, read through it and understand all requirements, premiums, length of time as well as overall coverage. By law, it is required that the insurance company provide you with a thorough outline of what the policy provides. If you have questions about your policy, now is the best time to ask about it. Specifically request to discuss limits, costs and inflation.

Additional Coverage to Consider:

There are a few other kinds of cover you might want to think over as well as disability insurance. Trauma and critical illness insurance is one option which will provide you with a payout should you suddenly be diagnosed of an illness or injury (of qualified options.)

As mentioned, a life insurance policy is quite helpful in protecting your family from your death. Living expense insurance is also helpful as it will provide your family with daily living expenses when you are ill and will pay for daily living costs.

Source by Jo Thomas

Health insurance is a formal agreement to provide and/or pay for medical care. The health insurance policy describes what medical services are “covered” by the insurance company. As a testament to the importance of health insurance in many colleges and universities health insurance is mandatory for all full-time undergraduate and graduate students enrolled in 12 or more credits.

In recent years many small business owners have passed the cost of health care insurance on to their employees. When the employees can not afford the health insurance coverage under present government policy they are just out of luck.

Some colleges have contracted with Aetna Student Health and similar providers to provide a health insurance option. This type of group coverage can be obtained at lower cost. For many families health insurance is often not affordable or unavailable and health care costs claim a growing share of household budgets. Rising numbers of people are under insured or not insured at all as they just can not afford the insurance premiums.

As medical needs and bills mount many Americans, even those with chronic illnesses, skimp on prescription drugs and needed care, and experience poorly coordinated health care. Hard working citizens lack confidence that they will be able to afford high quality health care in the future.

Shopping for health care insurance is not always easy. Medical terms can be confusing. Before speaking with an insurance agent you should make sure you understand his or her language. Make sure you read an overview of health insurance companies to get a better idea of each provider’s identity. Medicare supplement insurance, commonly called Medigap or Medsup insurance, can help make up the difference between Medicare coverage and billed medical costs.

Medical expenses can be very costly, especially for those students entering the United States on a temporary basis. In addition, many health care providers at colleges and universities can deny treatment if a student does not provide appropriate records of international student insurance coverage.

Medicaid does not pay money to you; instead, it sends payments directly to your health care providers. You may also be asked to pay a small part of the cost (co-payment) for some medical services.

American women want children and are willing to pay for it, but the technology is not sufficiently refined to prevent all multiple gestation. Comparing pre-term birth and infant mortality rates in the US with any other country is truly apples and oranges, and of course, nothing skews longevity statistics like infant death. Some Americans, some reports argue, have too much health insurance. Typical plans cover things that they shouldn’t, creating the problem of over use and consumption, leading to higher costs for the insurance providers.

Employers should provide their employees with written notice of their right to continuation coverage both at the beginning of employment and as the employee is going out the door, generally a separate letter dealing with health insurance benefits is best. The notice must instruct the departing employee how to inform the health insurance carrier of the employee’s desire to continue coverage.

Employers are jettisoning health insurance because costs are out of control. Since 2001, premiums for family coverage have increased 78 percent, while wages have gone up 19 percent and inflation is up 17 percent.

Obama would require employers to either provide benefits or contribute to a fund that would provide coverage. McCain makes no such rules for employers or individuals. The issue of health insurance coverage and bringing the costs of medical care and services under control should be a prime presidential campaign issue.

The challenge facing American with health care and health care insurance is that the costs have gone beyond the reach of many millions of Americans. The candidate who can meet the challenge of creating a workable health care plan in America should have a major edge in reaching the Whitehouse.

Source by Gerald Greene

For people who have just lost their medical plans or for those who haven’t got healthcare plans, obtaining health coverage is extremely important during economy crisis. High medical cost is in fact a very heavy burden for anyone. Hence, you need to act fast to grab healthcare protection for yourself. How to be fast? Here are some useful steps for your guidance.

Step 1:

The most convenient and fastest way to obtain information is through internet. In today’s fast changing world, you can get insurance quotes quickly by surfing online. You are advised to look for websites which allow you to do thorough comparisons on different policies in order to make sure that you are getting the best deal.

Step 2:

Never make fast decision without evaluation. You are required to evaluate the policies by looking into the premiums, monthly payments, types of coverage, deductible, exclusion clauses, value added services, etc. Never obtain low cost policy which provides very limited treatment. You will be suffering more in future.

Step 3:

Once you have short listed the policy, you are advised to read the details of the policy carefully. Make sure you understand what the policy covers.

Step 4:

Determine which policy suits your needs most. Then submit your application online. In common, the insurance provider will contact you to confirm your detailed information. They may request a copy of medical report from you.

Step 5:

Make your payment to the insurance company once they inform you that you are eligible for the coverage. You are then required to pay online using credit card. Finally you can get your policy within a week.

Isn’t it fast to obtain healthcare plan in such as short period?

Source by Jeslyn Jessy

In order to purchase the right medical insurance contract, it is important to have a good understanding of how a stop loss or out of pocket maximum affects your expenses.  You should know what expenses it controls and what it does not limit, the 2 calculation methods and how the limit is applied to family contracts.

The 2  terms out of pocket maximum and stop loss are used interchangeably in the insurance industry.  Both terms will be used here.

The out of pocket maximum provision of a health care insurance policy is important because it restricts your medical expenses in the event that you have large medical bills.  Your medical insurance policy probably has a coinsurance provision that requires that you pay a percentage of medical bills once you have met your deductible.  Without the maximum out of pocket or stop loss provision, you could wind up paying 20% of a very large expense.  Fortunately most policies have maximum out of pocket provisions that protect the consumer.

Your out of pocket maximum provision will apply to a year’s worth of expenses.  The twelve months however, may start on the first of the year  or on your plan’s anniversary date.  You will have to ask your agent or review the policy’s documentation to determine when the twelve months starts for the purposes of calculating your out of pocket maximum.

There are also 2 methods of calculating your out of pocket maximum.  With one both the deductible and coinsurance are included in the calculation.  With the other only the coinsurance is included.

Not knowing how a plan calculates their stop loss can cause you to believe that a contract is better or worse than it actually is.  One contract may express its maximum out of pocket as $1500 and another may express its stop loss as $2500.  If both policies have deductibles and the one with the higher stated limit includes the deductible in its calculation but the other does not, you can be easily misled.

The term maximum out of pocket can be misleading because reaching the stated dollar amount it doesn’t mean that you will have no more medical bills for the rest of the 12 months.  Co-pays are usually not limited by your coinsurance limit or stop loss.  If your policy requires that you pay a co-pay for doctor visits you will probably continue paying those even after you have reached your out-of-pocket maximum.

If you buy a contract with other members of your family, it is important to know what your out of pocket maximum is for each family member as well as for the family as a whole.  Each family member may have a separate out of pocket maximum to meet.  All family members’ medical expenses may contribute to one family out of pocket maximum.  Each member may have a separate limit that not all have to meet if the family maximum out of pocket has been met earlier in the 12 months.

Knowing what a stop loss is and what it restricts is crucial if you want to select the best policy for yourself.  Ignoring this part of your contract can cause you to make poor comparisons or cause you to wind up with a large, unwanted and unexpected medical expense.

Source by Alston Balkcom

More often than not, people feel exceptionally safe inside apartments, and never care to think about the possibility of a theft or robbery attack. Though you may not like to even imagine about dreadful situations such as gas leakage and other accidents at your home, it is always wise to be prepared to encounter them. Apartment renters insurance is a good way to keep you protected, should such mishaps occur at your residence.

Not only do the Apartment renters’ insurance policies cover the damages and losses in case of robbery and accidents, but they also cover the damage done to others, if something goes wrong at your home too.

It covers the cost of legal defence, and keeps you financially safe from bearing any expenses due to such unexpected tragedies at your house. You may not really pay attention to such as long as everything is smooth, but you must remember that the losses incurred in these small accidents add up soon, and push you towards debts and financial crisis. Moreover, if you are wondering how much money you’d be required to spend out on these Apartment renters’ insurance policies, then stop worrying unnecessarily as these policies are quite affordable too.

You can also avail additional discounts with Apartment renters insurance coverage clubbed along with security means such as Dead bolt locks on all exterior entryways, Fire extinguishers, Sprinkler systems, Renters insurance combined with auto insurance and other similar programs.

Lastly, you must not forget that your landlord would have got proper insurance coverage for the property, but it will not help you in claiming for the damage done to your belongings inside the house. So stay protected with the help of these Apartment renters’ insurance policies, and don’t risk your precious belongings to natural calamities, thefts, accidents and robbery threats.

Source by Chad Fisher

Securing quality term or whole life insurance coverage is important, especially if there are people in your life whose financial stability depends on your income. Many financial experts even consider life insurance to be the foundation of sound financial planning. Find out six reasons why you should purchase whole life insurance or term life insurance to protect your family and loved ones.

1. Income for Dependents
If people in your life depend on your income for financial support, having a whole life insurance or term life insurance policy in place will protect them in the event of your death. Life insurance can replace your income for your dependents so they aren’t left bearing the financial burden of an income lost through death. This applies most often to parents with young children, but is also applicable to couples if the death of one partner would leave the survivor financially stricken. If your parents, adult children, or siblings are your dependents, life insurance can also provide replacement income to benefit them. And, if your surviving spouse or domestic partner’s government or employer-sponsored benefits will see a reduction after your death, having life insurance to replace your income can definitely be useful.

2. Coverage for Final Expenses
Funeral and burial costs can be expensive, but your life insurance can cover the costs. Carefully planned life insurance will also provide funds to cover mortgages and other expenses. Debts and medical expenses not covered by health insurance can also be covered by your life insurance. Life insurance offers protection to the dependents you leave behind, since it can sometimes be utilized as a cash resource.

3. Create Inheritance
Life insurance can allow you to create an inheritance for your immediate relatives or heirs. Even if you don’t have any other significant assets to pass onto your surviving family or loved ones, you can create an inheritance by naming your heirs as beneficiaries in your life insurance policy.

4. Pay Estate Taxes
Rather than leaving your surviving family to take a smaller inheritance or do away with some assets, have a quality life insurance policy in place so the benefits can pay estate taxes. Some life insurance plans provide tax free cash that can be used to pay estate taxes and death duties.

5. Create Source of Savings
Your life insurance can become a sort of savings plan since some types of insurance can create a cash value that is available for withdrawal upon the owner’s request. Another benefit of this “forced” savings plan is that the interest credited is tax deferred, and if the money is paid as a death claim, the interest can be tax exempt (www.iii.org).

6. Make Charitable Contribution
By naming a charity as a beneficiary of your life insurance, you can make a larger contribution than if you donated the cash equivalent of your policy’s premiums. Donating a term life insurance policy allows you to deduct the cost of the premiums from your taxes. And, if you donate a whole life policy, you can deduct the cash value of the policy and the cost of the whole life insurance premiums. In both cases, after you die, the charity you select gets the insurance policy proceeds.

Plan ahead and ensure that you have a quality life insurance plan in place to protect your family.

Source by Ryan Patterson

Today, medical expenses are so high and still increasing rapidly. If one of your family member get sick or injured, then it is necessary to visit hospital or doctor for availing medical facilities. There is possibility to make a frequent visits for medical facilities, because needs for healthcare always vary. This can easily put you to undue stress and financial strain and here is health insurance seems very important.

Family Health Optima is a unique health insurance plan for your family offered by Star Health Insurance. This is a single premium policy that covers your entire family’s health care needs, which means you do not need to pay the multiple premiums.

Hospitalization Cover-

It covers the insured person for in-patient hospitalization for a more than 24 hours hospitalization. Theses expenses include such as room rent, boarding expenses, nursing expenses, surgeon’s fees, consultant fees, specialist fees, anesthetists fees, cost of blood and oxygen, diagnostic expenses, cost of medicines and drugs, pacemaker, emergency ambulance charges, etc.

Pre and Post Hospitalization Cover-

Pre-hospitalization expenses are covered up to 30 days prior to hospitalization and post hospitalization calculated at 7% of the total hospitalization expenses, subject to maximum of Rs.5000/-

Eligibility Criteria-

Available for the any person aged between 5 months and 60 years residing in India can opt for this insurance.

Family Includes-

Family would mean proposer, spouse and dependent children up to 25 years of age who are financially dependent on their parents.

Discount-

A discount of 10% premium is permitted on the renewal of the policy, if there is no claim made in the immediately preceding year.

Other Benefits-

1. Cashless hospitalization facility is provided at more than 4000 network hospitals across India.

2. Premium paid by cheque/credit card towards this insurance is eligible for tax benefit under section 80D of the Income Tax Act,1961.

Source by Habibulla Antule

Are you in the process of moving to the Boston area? If you are, have you decided that you would like to buy a Boston condo? If so, you are definitely not alone. Each year, a large number of individuals who move to the Boston area consider buying their own condos. If you have reaffirmed your decision to buy a Boston condo, you may be working out all of the “kinks,” or be in the process of getting all of your arrangements in order. If that is what you are doing, have you started to examine insurance?

When it comes to owning a Boston condo, there are a large number of individuals who do not know whether or not they need to buy a Boston condo insurance policy. If you are in the mist of purchasing a condo, it is definitely something that you will want to examine. In fact, you might not only find that having insurance coverage for your Boston condo is recommended, but you may also find that it is required. Perhaps, the best way to determine whether or not condo insurance is required or is just optional is to contact your local Boston condo association for more information.

Although there is a good chance that you will be required to have condo insurance for your Boston condo, you might not actually be required to do so. Even if you aren’t legally forced to have condo insurance coverage, it is still advised that you do. In a way, condo insurance can be compared to renter’s insurance, although you are actually the owner of your condo not a renter. For instance, should your condo complex suffer wind damage from a storm and you have belongings that were damaged because of that wind, it is your responsibility to replace or repair your belongings. Unfortunately, there are too many condo owners who believe that their belongings would be taken care of or paid for by the condo association or the owner in charge of running the Boston condo complex. This is not how it works though.

If you are interested in obtaining condo insurance for your Boston condo, you will want to speak with an established insurance agent. These insurance agents can often be found locally or online, with a standard internet search. For the best quality of service, you are advised to approach the insurance company that handles your car insurance, should you have an insured vehicle. There are a large number of insurance companies, maybe just like yours, who offer coverage for a wide variety of different items, including condos, homes, and vehicles. No matter who you choose to seek condo insurance from, it is important that you do. As previously mentioned, without condo insurance for your Boston condo, it would then be your responsibility to pay for all repairs and replacements, without any help from an insurance company.

In addition to purchasing your own Boston condo insurance policy, you may also be required to contribute to another insurance policy. Most condo complex associations require that insurance coverage be carried for common grounds. These common grounds, such as picnic areas, swimming pools, and so on, are the grounds which you and the other condo owners own together. Depending on which Boston condo complex association you have to deal with, you may be required to pay this insurance on a yearly basis or in small increments each month. If you have yet to officially buy a Boston condo, this is an important question that you may want to ask ahead of time, before making your purchase offer.

Although having and knowing the important of Boston condo insurance is important, condo insurance isn’t the only thing that you will need to examine and prepare for, before buying a Boston condo. For more information on buying a condo in Boston, you are advised to examine www.ANTHJAMES.com.

Source by Anthony Longo

As subsidiary of WellPoint Businesses, Unicare Health Insurance has been in operation since the early 1990s. The company’s vision stands on the grounds of providing health care services with affordability specifically designed to manage financial security for customers and clients in the field of medical assistance and need. They have been providing health care and wellness products for employers and their employees and for families and individuals. They offer plans that ensure cost-effectiveness of medical products and services.

The official Unicare Health Insurance website offers links to various rating agencies to show potential customers and site visitors how their strengths and performance have been rated and measured. These agencies are A.M. Best, Fitch and Standard and Poors. If you want to read these ratings, you would have to register an account first with the rating agency before you may view their information. Though these ratings have been good, many other surveys have differed with their results. Comments and negative criticisms have been posted by unsatisfied customers who have had negative experiences regarding the company’s handling of insurance plans and other services.

Negative feedback regarding Unicare Health Insurance plans and products has been given, and usually they revolve around unavailability of physicians under certain plans, disclaiming medical fees supposedly covered by the company, customer service representatives being uninformed and inefficient in handling customer concerns, and many others closely related to these natures of complaint. In observing comments, one would definitely find that most are very violent and these really show the public’s dissatisfaction with the company. They have all complained that they did not get the medical assistance they were promised effectively, refusing to pay for various medications and operations. An example would be one customer’s complaint of how promised fees percentages to be covered by the company have been denied, thus costing him more. Surveys have been made, and figures have shown this generally. The figures are so bad, that 0% of a certain survey population based in the United States have stated that they were very satisfied, while 79% have claimed that they were very unsatisfied. These results must serve as warnings to those who seek for health insurance plans they could rely on for long-term servicing.

Of course, Unicare Health Insurance could also be credited for the positive features they promise. This includes their dedication to providing plans that are specifically suited for a particular customer’s needs and preferences, while giving affordable prices with them. Healthcare counselling and careful planning have been some of the other features they offer to add up to the company’s efficiency and positive service to the public. Another strength this company has is the ability to provide a wide range of products and plans concerning health care like disability, behavioural health, dental, and life insurance packages. Though the company has claimed this, the general public states that they have not seen such promises at work.

Search and view via the internet just how negative most comments about Unicare Health Insurance are. The company has its strengths as well, but most surveys have shown that these are still lacking. For obtaining the best information, contact an insurance agent and ask about the details of what this company really offers.

Source by Erin Williams

Payment Protection Insurance is the latest problem to hit the UK financial services sector. In recent months lenders have been very heavily fined by the Financial Services Authority for mis selling payment protection insurance.

It has come to light that many of the policies sold to customers who took out credit cards and loans with lenders were not paying out when the customer expected. As a result the process of selling the loans was looked at in greater scrutiny and it was discovered that many people were mis sold policies because:-

They were not told that the policy was available elsewhere from another provider

They were not told that the cover could be cheaper elsewhere

They were not told the details of the Policy

They were not told the exclusions in the policy

It was not investigated whether the cover was applicable to the applicant

It was not disclosed that commission would be earned by the lender

It was said that the loan and insurance came together

It was advised that the insurance was compulsory

In essence the insurance was not being sold as a benefit for the person taking the loan, but instead to earn huge commission for the lender.

Now this mis selling has come to light and major lenders have been fined huge sums of money it is now possible to reclaim money for a mis sold policy. Claims companies will professionally help you to recover your claim.

A professional claim company will often be a qualified solicitor, and will take on the case free of charge and only make a fee on recovery.

This is called no win no fee.

A success fee of up to 30% is only payable to the claims manager on recovery of a payment from the lender, so no recovery means no charge.

1. Money can be recovered in as little as 8 weeks. Imagine you could pay for Christmas this year on a recovered PPI insurance claim.

Source by Steve Thatcher

Motorists in the UK who drive diesel cars are more likely to fill up their vehicles with the wrong fuel, resulting in repair costs that could reach £5,000.

Nearly a third of insurance polices will not cover this accident though, according to the British Insurance Brokers’ Association (BIBA).

BIBA have revealed that of the 150,000 cases recorded each year, 95 per cent are because people are putting petrol into diesel cars, due to the wider diesel filler neck and narrow unleaded petrol pump nozzle.

Repair costs can range from £300 for a fuel drain, climbing to as much as £5,000 if serious damage has been to the engine when driving.  

BIBA carried out a survey that showed 30 per cent of the major insurers in the UK would refuse to pay out for this type of accident.

A spokesperson for BIBA said, “Putting the wrong fuel in often occurs on a Monday morning and Friday evening when drivers are preoccupied thinking about the week ahead or rushing home for the weekend. If the motorist were innocent, the insurance industry would normally treat this as an accidental damage claim, under a comprehensive insurance policy. However, if the policy is third party, fire and theft or contains incorrect fuelling exclusion, then the motorist is unlikely to be able to claim at all. We have also experienced motorcycle incorrect fuelling where the rider has been driving a company van or car during the week and then fuels his motorcycle for leisure activities at the weekend. Riders should speak to their Insurance broker as 57 per cent of motorcycle insurance policies don’t cover this kind of event.”

BIBA is urging drivers to purchase a sufficient policy from an insurance broker that protects them against such an occurrence, instead of buying an insurance policy based simply on price.

If a motorist does fill their car with the wrong fuel, BIBA have advised them not to start the engine of the vehicle and notify the break down service and petrol station immediately.

Insurers may be reluctant to pay out in cases where drivers have willingly driven their vehicle with the wrong fuel in it, because the policyholder may be deemed to have neglected their duty of care.

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Source by Rochelle Martinez

What is temporary auto insurance? Arizona residents may have a need for insurance that’s just for a short period of time. They can get temporary auto insurance for a few days, a week, a few weeks, a month, even just for a day.

Why would someone need insurance for a day?

If you need to move a vehicle that has been temporarily taken off the road, consider getting temporary auto insurance. Arizona Arizona companies can cover you for various types of temporary auto insurance Arizona Arizona coverage and for varying amounts of time.

Some people take their chances and move a vehicle without the proper insurance. This can be a big mistake. Sure, you could get away with it. You might not get stopped by police. You might not get into an accident. But what if something goes wrong?

It is illegal to drive without insurance in Arizona. It is illegal to drive without insurance in most places. If stopped, and you’re unable to provide proof of insurance or proof of financial responsibility that would exclude you from needing insurance, you will be subject to: fines, problems obtaining regular insurance in the future (you may be required to fill out an SR22 form), and you could have your license suspended as well as your vehicle towed.

Even worse than being stopped and being caught by authorities without adequate insurance would be: getting into an accident with another vehicle or causing damage to someone’s property with your vehicle. If you are deemed at fault, you could face a financial nightmare in temporary s of legal costs. In Arizona, you are required to carry $12,500.00 in bodily injury insurance for an individual and $25,000 total plus $7,500 for property damage. It’s a full vs limited tort state so people in an accident with you could also sue you for pain and suffering damages. A judge isn’t likely to look too kindly on someone who doesn’t follow the law with regard to insurance.

What about other insurance types?

While there is a law required for liability insurance, other temporary auto insurance Arizona (or elsewhere in Arizona), there aren’t laws regarding other types of insurance. You don’t need to buy collision insurance. You don’t need to buy comprehensive insurance. You also don’t need, by law, to cover yourself in case you’re in an accident with someone without insurance. But shouldn’t you at least consider it?

What are the recommended insurance coverage amounts?

There’s no single answer to the insurance recommendations. Most experts will agree that the bare minimum isn’t enough in the case of a serious crash. Because you’re signing up for temporary insurance coverage for a short period of time you might think you’re fine to go with the bare minimum. Don’t make this decision lightly. Definitely look at all the factors involved and potential for financial loss as well. Certain vehicles carry more risk of serious damage and certain seasons and driving conditions increase your risks as well. Think of how you’ll be using that vehicle. While it may not seem too risky to simply add liability at the bare minimum, hindsight is 20/20. Hopefully you won’t go back and analyze that decision with regrets.

The number of uninsured Arizona motorists are expected to be in the double digits, especially in the current economy where many people are having financial difficulties. Some have let their insurance policies lapse but do continue to drive their cars, SUVS, and trucks. If you’re in an accident with them, even if you’re just signing up for a one day policy for temporary auto insurance, Arizona drivers who are insured could wind up without reimbursement for their expenses because the accident happened with someone without coverage. Even if someone has the minimum coverage, what if your expenses are higher than that $12,500? Buying extra insurance coverage can put your mind at ease, even if it’s just for temporary auto insurance.

Arizona residents have a lot of options when it comes to where to buy insurance. Consumers who spend time doing a bit of homework can get a really great deal. Not only can you get competitive rates for your temporary insurance but you can also get more than your money’s worth. Even if you just need insurance for a month’s time, say, to put your heavy duty “winter” car on the road for the month with the heaviest snowfall, you could save money by shopping around for the best policy at the best price.

Source by Sharmaine Slagle

Texas Fire and Flood Claims Must be Paid on Time

In Texas, homeowner insurance claims are supposed to be taken care by the insurance companies on time. Of course, if they suspect arson, rightly or wrongly, they can extend these deadlines. The burden of proof for the amount of the claim is on the homeowner, however, and many times there is a delay caused by unmet request for receipts, an inventory or forms from the homeowner.

http://tlo2.tlc.state.tx.us/statutes/in.toc.htm gives the insurance company certain deadlines to acknowledge, investigate, and accept or reject a claim. First they must acknowledge receipt of the insurance claim, then they must start an investigation of the claim usually within 15 days.

When you turn in the information they request, like receipts and forms, then the insurance company has 15 days to accept of reject the claim. Once the claims validity and amount are established, the insurance company has 60 days to pay. Once they notify you that they will pay, they have 5 days in order to do so.

If your insurance provider is violating Texas insurance laws by delaying settlement unfairly, or if your insurance company is refusing to pay benefits that were promised under your policy or represented to you by their agent, then you should seek assistance from a qualified public insurance adjuster.

Public insurance Adjusters are experts on property loss estimations, work only for the insured, to document, negotiate and settle the claim at the highest amount called for in the policy. The check for underpriced or left out of the companies offer, and for this reason and other reasons, your settlement is often higher when a public adjuster is used.

Dwayne Hall is a licensed public adjuster in Texas, a veteran of Katrina, an accountant with an extensive knowledge of both construction and homeowners insurance policies. He has responded to and assisted with hundreds of fire and water damage claims, and is both a certified mold remediator and radon measurement provider. For more information, contact Dwayne at

www.PublicAdjusterNetwork.com

or call (903) 733-4664.

Source by Dwayne Hall