Life Insurance: Do You Need It?

Many people are skittish about life insurance, because they feel that it is useless, or it makes them face their mortality, or they may arrogantly think that they won’t die. But let me reassure you, life insurance is not only useful, but also essential if you’re young or old, or have a young family. Life Insurance should definitely be one piece of your financial portfolio.

BENEFITS OF LIFE INSURANCE

1)Protects your family – If you should die prematurely a life insurance policy will give your young family and spouse a financial buffer. The lost income can be devastating.
2)For children and young adults – accidents are a leading cause of death.
3)As you get older – it can help to defer funeral costs.

Life Insurance can help fill the gaps when you or someone you love passes away, as well as, helping to eliminate the stress and uncertainty of their future.

TYPES OF LIFE INSURANCE

There are different types of insurance, which can fit each individual’s needs and situations. The different types and explanation of each are as follows:

Term Life Insurance – Term life gives you coverage for a particular period of time. (Builds No Cash Value)

Whole Life Insurance – Whole Life can give you protection for your entire life at a fixed rate. Whole Life builds up cash values, and in some cases, paid dividends.

Universal Life Insurance – Universal Life gives you more flexibility -- allowing you to adjust your premiums and to increase or decrease your death benefit.

Accident Insurance – Accident Insurance gives your family an income in the event of your accidental death.

To conclude, when I was younger, I felt that life insurance was a waste of my money. But that changed when I seen the results of what happens when a father of three young children died unexpectedly. He had no insurance to care for his three children. Not only did his wife and children have to deal emotionally with their loss, but it also left them financially crippled. From that moment on, I realized the importance of Life Insurance and what it can bring to my family – a financial safety net, and for me, peace of mind.

About the Author:
Vickie J Scanlon has a BBA degree in Administrative Management and Marketing. Visit her site at: http://www.myaffiliateplace.biz for free tools, articles, affiliate opportunities, ebooks, and insurance info
Free quotes on auto, life, homeowners, health, business insurance at: http://www.myaffiliateplace.biz/Affiliate_Netquote
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How to Shop for Individual Health Insurance

If you find yourself in the position of shopping for an individual health insurance policy, there are certain things you'll want to keep in mind. Whether you are coming out of a job that covered you before, or are at the end of your COBRA benefits, or simply have never had coverage before there are things you can do to get coverage on yourself and your loved ones.

The basic thing to know is that if you have a shot a group health insurance, whether through a job or an association you're a member of, that is usually much more affordable than buying individual health insurance on your own. First you need to figure out your health insurance goals; in other words, what are you after? If you're young, healthy as a horse, no dependents and not attempting Mt. Everest next week, you may want to opt for a policy that covers only the catastrophes, and cover the rest out-of-pocket. On the flip side of that, if you're the sole bread winner with a family to support, the scenario is different.

The basic choices you'll have are Fee-for-Service, Managed Care Plans, and Association-based health insurance. Fee-for-service is the traditional indemnity plan, harder to acquire, more expensive, but usually great coverage. Managed care plans include most HMO's and PPO's. These offer lower costs but your choices are somewhat limited. Another way to get insured is through a group or association you may already be a member of, such as professional, religious or trade organizations. Often they may offer health insurance. It's worth checking out, as sometimes you can strike gold in this vein.

Things to consider when you're looking for any policy are what's covered on this plan, how much are the monthly premiums, what is the yearly out-of-pocket, what is the deductible, how much are office visits, does it cover preventative medicine, vision, dental? And I'm sure you can come up with many of your own. Sit down before you go shopping and make a list of your needs and wants, and decide in advance what you're willing to give to get. Be aware that once you start getting quotes they can vary as much as 50% for the same person! Remember, you're shopping, and nobody's making you do anything. If one insurer isn't cutting it, move on to another. If you're coming at this cold and have no good recommendations it may be wise to use a broker who represents several companies, as he or she wil be more likely to find the best policy for you, as opposed to selling the company they work for.

Shopping for individual health insurance can be frustrating and time-consuming, but if you come armed with facts you'll be able to navigate this highly competitive and ever-changing field.

Copyright 2005 Keith Thompson

About the author:
Keith Thompson is the webmaster at http://www.health-insurance.giftsforbiz.com, a site geared toward helping you find great individual health insurance!
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Insurance For Life...and Death.

Most people think of life insurance when it comes to having insurance in the event of death; however, life insurance isn't the only insurance that's nice to have when death is involved. People normally purchase life insurance policies for themselves; however, what happens if the death of another person is your fault? If the person died due to an accident caused by something on your property or an automobile accident, in which you were at fault, having an adequate homeowner's insurance policy or car insurance policy.

In America, all 50 states require some form of car insurance or proof of financial responsibility. It's the law, and most people comply. Yet, the amount of car insurance varies from state to state, and the damages that occur during a car accident usually cost more to repair than the minimum requirements for car insurance. If you should be involved in a car accident that results in the death of another person, and you are the driver at fault, your state's minimum car insurance requirements may not be enough to cover the damages. When this is the case, you can bet lawsuits will be filed.

The same applies to accidents caused by something on your property resulting in death. You and your spouse might know to skip that wobbly step on the way up to your front door, but your visitors may not, and if a fall results in death, the family of the victim will go knocking at your homeowner's insurance company's door. If there's not enough insurance to cover damages - and there usually isn't since homeowner's insurance isn't often required - they'll probably go knocking at an attorney's door next.

Instead of thinking about what you can get away with in the present, think about what situations you want to avoid in the future. Purchase more than the minimum amount of car insurance required, and purchase homeowner's insurance even if it isn't required.

About the Author:
Elizabeth Newberry
Find Affordable car Insurance Companies Home Owners Insurance Texas Online Car Insurance Quote
Submitted: 2006-09-27
Article Source: GoArticles

The Benefits of Auto Insurance

An auto insurance policy is an agreement between individuals and the insurer for automobiles. The insured person pays a certain premium as insurance and the insurance company, in turn, promises to support financial losses involving vehicles as long as the policy lasts. Auto insurance is compulsory in most states, and the insurance has different types of benefits or coverage.

Some of the components of auto insurance are bodily injury liability, property damage liability, medical payments coverage, uninsured or underinsured motorist coverage, comprehensive coverage, and collision coverage. A typical policy features the aforementioned six benefits. Bodily injury liability covers legal costs and personal injury claims filed against you if someone is killed or injured in your automobile and you are found to be at fault. Property damage liability deals with legal costs and other damage claims, in case there is damage to another person's property by means of your vehicle.

Medical payments coverage assists in paying medical expenses, even if the insured person is injured in somebody else's vehicle. Uninsured or underinsured motorist coverage protects against expenses incurred as a result of an accident that is caused by another individual who is either uninsured or who has inadequate insurance coverage. In comprehensive coverage, insurance is for vehicles that are damaged because of theft or natural calamities. Here, the insurance amount is paid for repair or replacement of vehicles. Collision coverage is mainly for vehicles in which damage occurred due to collision with other vehicles, objects, or even persons.

Auto insurance policies allow premium discounts for theft devices or for owning more than one policy with the same insurer. An added advantage is the provision for extending coverage to others driving your car with your permission.

About the Author:
Peter Emerson
Auto Insurance Companies provides detailed information on Auto Insurance Companies, Types of Auto Insurance Companies, Top Auto Insurance Companies, Auto Insurance Company Ratings and more. Auto Insurance Companies is affiliated with Car Insurance Policies.
Article Submitted On: September 19, 2006
Article Source: http://EzineArticles.com/

Making Sure You Get The Best Life Insurance Quote Online

Like most other industries, life insurance companies have created a major presence online. You can now do most of the "ground work" online when you are looking for life insurance quotes.

The first thing you need to do is to decide what type of life insurance you are looking for. Then you need to seek no-obligation quotes from several companies that offer what you are looking for. The premiums will often vary significantly from one company to another, so little research can end up saving you a lot of money,

Here are a few helpful hints to assist you with your online research:

- Make sure that you get the right information about various life insurance categories. For example, whether it is temporary or permanent, either short term or long term, and is clear about it. Do they have comparable features and rates which will help you determine the right life insurance that is compatible with your needs.

- Are they helpful in guiding you towards finding what you need? This is when you need to assesss their customer ervice standards. Are they industry accredited? How long have they been in business?

- They should provide "plain language" explanations of their products to assist your decision, and not hide the details in a long and confusing document full of fine print.

- All reputable companies have permanently available internet information services, toll free numbers to call, and preferably sign up services available online as well. The best ones even have goog old fashion humans to speak to when you call!

- They should ensure that all the information you have given are safely protected. Using it only for providing your quote and should never be shared to a third party.

Life insurance can be a confusing subject for most people, so here are a few tips to help ensure that you end up with the policy that fits in with you particular circumstances.

- You should have a thorough review of your life insurance policy regularly, especially if you have sudden changes in ersonal conditions, health and your financial matters.

- Joint policies can be tricky, and need special attention. What happens in the event of a claim? Is the joint policy holder left uninsured, and liable to steep premium increases? Often it's better to keep policies seperate in order to avoid these possibilities.

- Check into the usefulness of a critical illness policy as well. It is usually much cheaper to combine critical illness with your life policy, than adding it on later. Illness can often be more financially debilitating than a death.

- Be aware of the tax relief incentives, but don't let the tax benefits blind you to the reason for actually having a life policy. First and foremost the policy is to protect your family in a time of need, and any tax benefits should be treated purely as a secondary bonus.

- Always ensure that you policy is worded so that the benefits go directly to the beneficiaries and not to your estate. The tax benefits are significant, no to mention avoiding the delays that could occur. Your insurance company should either write this into the policy or have the necessary documentation for you to do so.

- It is highly recommended that you talk to an independent adviser, to ensure you get the peace of mind from knowing that you are purchasing the right policy at the right price to adequately protection for your family.

These are some of the things you should know if you are applying for insurance online. Always remember that not all insurance companies online are legitimate, and to be very wary of any offer that looks too good to be true. Some simple research will soon tell you whether you are dealing with a reputable company or not. If you are still in doubt, take your business elsewhere.

About the Author:
David Neelhy is a regular contributing author to at Insurance Quotes Home & Auto Visit there today for the latest Insurance Quote updates. Get all David's latest Insurance Quote articles by going to InsuranceQuotesHomeAuto.com/articles
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Types of Life Insurance

There are different types of life insurance policies available. Shop around and compare policies to ensure that you receive the best deal possible. This sounds obvious, however, there are dozens of different types of life cover plans available and it is important that you select the right one for your circumstances.

Life Insurance is insurance that provides protection against the economic loss caused by the death of the person insured. There are several types of Life Insurance, each having different characteristics. Some of the key types of Life Insurance are: Term Life, Whole Life, Burial Insurance, Survivorship Life, Universal Life, and Variable Life Insurance. Outlined below is a useful description of each type:

Term Life Insurance

Term Life Insurance is the lowest cost and simplest product available. Term insurance is a life insurance contract that provides protection for a limited number of years. The death benefit is only payable if death occurs during the agreed-upon term. There are various types of Term Insurance Life Policies:

Level Term Life Insurance

means that your premiums are set at a level at the beginning of the contract and do not move up or down. The sum assured will remain the same throughout the term.

Increasing term insurance

This is a fixed term policy where the sum assured will increase, either by a set percentage or by the Retail price index (RPI) throughout the policy term. Your premiums remain level throughout the term if the sum assured rises by a set percentage, or will rise according to the RPI if the sum assured does the same.

Renewable term insurance

This is policy lasting for a smaller period, usually five years, which can be renewed, although the sum assured cannot be increased, whilst the premiums will increase with age.

Renewable increasable term insurance

is the same as above but provides for an increasing sum assured.

Convertible term insurance

provides the option to convert parts of the sum assured to whole of life, endowment or further term assurance without further medical evidence.

Decreasing term insurance

is where the sum assured decreases over time; hence, the premiums are set lower. This is commonly used to cover a mortgage.

Whole Life Insurance

Life insurance that remains in force during the insured's entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance also builds a savings element (called the cash value) as a result of the level premium approach to funding the death benefit.

Burial Insurance

Burial Insurance, or Final Expense Life Insurance, is essentially a whole life product with small face values. The application process is simple and does not have the associated medical requirements of other policy types. This type of life insurance is also referred to as a simplified issue or guaranteed issue policy.

Survivorship Life Insurance

A type of whole life insurance which insures two people and pays benefits only after the second person dies. It is generally designed to provide funds to pay estate taxes.

Universal Life Insurance

An unbundled whole life insurance product in which the mortality, investment, and expense factors used to calculate premium rates and cash values are expressed separately in the policy. In a universal life insurance policy, any applicable expense charges are deducted from the premium and the remainder of the premium is then credited to the policy's cash value. Each month the insurer deducts the mortality costs from the cash value and credits the remainder of the cash value with interest.

Variable Life Insurance

A form of whole life insurance under which the death benefit and the cash value of the policy fluctuate according to the investment performance of a separate account fund. Most variable life insurance policies guarantee that the death benefit will not fall below a specified minimum. A minimum cash value is seldom guaranteed.

You may freely reprint this article provided the author's biography remains intact:

About the Author:
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
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Auto insurance, reduce costs but maintain protection

Auto insurance is a legal requirement in every US state and Canadian province. Costs are continuing to rise. How can you reduce some of these expenses and still get the best coverage?

First, get multiple quotes from the Internet and your neighborhood broker. You can shop for different types of quotes from a direct-sell insurance companies and offline and online brokers.

Auto insurance that is cheapest isn’t always the smartest move. Ask yourself, is the company financially secure? Are they reputable and will they pay out if you have to make a claim.

The first piece of the policy is almost always liability insurance. If you only have minimum liability coverage and you injure someone, their attorney can go after your personal assets. Many insurers feel that minimum liability is a gamble. In fact, that is why it is often only a little more money for more protection.

Auto insurance varies on car types. Coverage for a sports car is very different from insuring the family sedan or mini-van.

If you are looking to buy a car, consider buying a car that "looks good" to insurance companies. For instance, insurance companies know what kinds of cars are prone to problems. They also know what kinds of cars are most often stolen. If you haven't purchased your car yet, find out what cars make this "good list" among auto insurers.

Consider how much coverage you really need to buy and the price each of these coverages will pay. Think about collision and comprehensive coverage, which is how much you will be reimbursed for the loss or destruction of your vehicle. Are you carrying $30,000 worth of collision coverage for a $12,000 vehicle?

If your car was totaled, would you be able to afford to replace it? If not, you will want comprehensive and collision coverage.

The decision to buy this coverage is usually based on the value of your car. Guidelines usually suggest that if your car is worth less than $2,000, it won't be worth it to buy comprehensive and collision.

If you own a $50,000 car though, it would most certainly be worth it to pay an extra $200 annually or so to insure that your car will be replaced if you get in a serious accident.

If you’re driving a used car from 10 years ago, dropping collision and/or comprehensive coverage can usually give big savings.

Run through various scenarios such as if I totaled someone else's car, will my insurance cover it? How much will I have to pay out of my own pocket?

Paying a higher deductible can also keep your policy costs down. Remember, the deductible is what you pay out of own pocket when making a claim.

Buying a low mileage car and insuring with a good driving record, will all help bring insurance rates down. Don’t speed, don’t drink and drive and you’ll save.

Single, young males under the age of 25 get the short end of the stick in this deal so if you fall into this category make up for this price increase by purchasing a more sensible vehicle. Consider delaying the purchase of that cherry red Mustang until after you’re 26 and married.

Keep yourself adequately covered. You can get away with having the bare minimums required by each state to keep you in compliance with state laws, but that may not be enough to protect your assets if you have a major incident.

Insurance experts recommend that you review your insurance policy often and thoroughly.

Many insurance companies offer discounts for anti-theft devices and advanced driver-training courses.

About the author:
Auto-insurancenews.com by Drew Harris is a one-stop-shop website for those looking for everything related to Auto Insurance. Multiple pages of resources, referrals , tools and expert advice. http://www.auto-insurancenews.com
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Life Insurance - think about it.

Not everyone needs life insurance. If you don't have any debts or maybe only minimal ones which would be covered by your disposable assets should you die, then you're fine. Not everyone has dependants and as long as there would be enough funds to settle your affairs and pay for your funeral, then you wouldn't be leaving your next of kin any headaches.

Not too many people are in this position though. Most have people who depend on them. If you're the main breadwinner of the family, have you considered what would become of them if you were no longer there to provide their needs? There would be the mortgage to pay, plus any other loans and commitments. Then there's the upkeep on the home, expenses such as running a car, holidays and maybe school fees and support through college to fund. Even if your "other half" earns a salary, it's a lot to take on. Some thought and provision now could save a lot of heartache later on.

The definition of life insurance is a policy which will pay out an amount of money on your death.

A term insurance policy is just that. It covers you for period, or term, of your life. It may be the term of your mortgage, or maybe the term which you expect your children to need financial support. In the event of your death within that term, there would be a lump sum, or maybe a series of smaller sums, for your dependants to draw on for their support and to maintain their standard of living. There is no actual cash value to these insurance policies; they simply expire at the end of the term.

A whole of life policy is one which, once purchased, will continue until your death. It is necessary to keep up the premiums or the policy may lapse, but the policy does have some cash value, should you decide that the cover is no longer necessary.

Many people take out this simple cover when they're older and feel that they'd like to leave enough money for their family to be able to cover funeral costs.

Another use for this insurance is for people who realise that their estate is going to attract inheritance tax. By doing some careful calculations, it may be possible to work out the approximate amount of tax which would be due on their death and taking out a whole of life policy to cover this amount. This could save their next of kin from having to sell any property left to them simply to pay the inheritance tax. If the policy is written "in trust", then the payout should be excluded from inheritance tax. The benefit should be easily available, enabling the family to attend to the tax side of the estate efficiently. If you were going down this route, it would be advisable to take some financial advice. Inheritance tax planning needs some thought, but whole of life insurance is a tool often used.

Back to term insurance. Level term insurance might be taken out to cover the term of a mortgage. It is often used in conjunction with an interest only mortgage, where your capital amount remains constant. Both the premium and the sum insured stay the same throughout the term. This type of insurance would also be suitable for family protection.

A decreasing term policy is useful if you have a repayment mortgage, where the capital amount owing on your property reduces over time. The actual cover reduces in line with the mortgage balance and because the insurer would actually pay out far less should your death occur towards the end of the term, these policies are cheaper to purchase.

There are other term policies out there - pension term and increasing term being just two of them.

If you're looking for more information, the internet's the place to look. Don't search for an individual insurer though. A broker will have the facility to search out some quotes for you from a range of suppliers. They also have a wealth of experience and will be able to offer some sound advice.

Don't delay though. It's really very easy to arrange some simple, uncomplicated cover and it's well worth thinking about.

About the Author:
Michael Challiner
Life Insurance Broker provides great articles based around life insurance quotes.
Submitted: 2006-09-27
Article Source: GoArticles

Biker On a Budget? Go For Cheap Motorcycle Insurance

Insuring your vehicle is a must, and that's a fact. While in general motorcycles may be considered budget vehicles, they still need to be protected by some sort of financial shield if you intend to get the most out of them as an owner. If you're strapped for cash and worried that you won't be able to afford good insurance for your budget vehicle, never fear: more and more insurance outfits are offering cheap motorcycle insurance.

We could safely say that the rise in number of cheap motorcycle insurance plans is due to the annual rise in the number of registered motorcycles. The U.S. National Highway Traffic Safety Administration (NHTSA)'s latest "Hurt Report" claims that between 1995 and 2004, the number of registered motorcycles has increased by 48%. Bikes may be the quintessential "bad boy" vehicle, and yet more and more people are seeing the appeal in owning one!

An interesting thing discovered by the Motorcycle Industry Council (MIC), which is also mentioned in the 2004 Hurt Report, is that there has been a remarkable increase in the number of motorcycle owners above the age of 40. In tandem with this information, the NHTSA's Fatality Analysis Reporting System (FARS) shows that there has been a marked increase in fatalities among motorcycle owners aged 40 and above. Overall, the number of accident fatalities has been increasing yearly. This culminated in a total of 4,008 fatalities in 2004, from 3,714 in 2003.

There's no need to debate this: one of the very first things your new bike will need is insurance. But how to get one if you're on a tight budget?

Here's a simple first step: go online. Lots of insurance companies are offering affordable rates for basic insurance packages, and give out quotes that are friendly toward people of all income brackets. If you have the option to go for a custom package, stick to the basics: look for a coverage that would cover the costs incurred in worst case scenarios. This would be a real favor not only to you and your vehicle, but also to your family and friends, whom you allow to ride your vehicle from time to time. Getting a good insurance plan would show that you are a responsible vehicle owner. But getting a good and yet cheap motorcycle insurance plan would prove that you are not only responsible: you're smart with your money too!

About the Author:
GSET Publishing
Motorcycle-coverage.com provides you with information on cheap motorcycle insurance, quotes, progressive insurance and more to help you make an informed decision about your motorcycle insurance.
Content Provider: http://www.my-articles.com

Automotive Insurance Rates Affected by Your Town?

The area in which you live does impact the cost of you automotive insurance. It may seem a bit unfair, but it’s true. Locations that have higher crime rates tend to also have higher automotive insurance rates.

Of course, there probably aren’t too many people out there who are willing to shop for a new home in a completely new area, put their houses up for sale, and leave town just to save money on automotive insurance, and that’s completely understandable. That’s why we’re going to offer some tips on how you can possibly lower the cost of your automotive insurance and keep your home.

First, take a look at your vehicle. Was it expensive? Is it flashy? Is it a vehicle that many people would love to drive but can’t afford? If so, your vehicle is at risk for being stolen or burglarized. Vehicles that aren’t at risk for being stolen or burglarized tend to get lower automotive insurance rates. Consider trading your flashy car in for a more subtle ride.

Then, and this is especially important for those of you who aren’t willing to trade your cars in, take a look at your safety components. Do you have any kind of anti-theft system for your vehicle? Having one of these will not only protect your car from being stolen, but it will also protect your valuables inside, i.e., some crook won’t come along and break the window to get your CD collection. This means your automotive insurance rates could be lower since your insurance company won’t have to worry too much about replacing windows.

Finally, take a look at where you park your vehicle. On the side of the street? In a back alley? Consider parking your vehicle in a safe, well-lit, and guarded parking garage. Your insurance company will appreciate your effort to protect your car, and they might just reward you with lower automotive insurance rates.

About the Author:
Elizabeth Newberry
Get An Instant Auto Insurance Quote
Home Insurance Houston
Issouri Car Insurance
Article Submitted On: September 19, 2006
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So What's Life Insurance All About?

LIFE ASSURANCE
Life insurance (also called Life Assurance) is a way of financially protecting your family should you die.

The most frequent reasons people take out life cover are to pay off debts upon their death - such as a mortgage - or to provide a lump sum payment when they die to their dependents (thus ensuring their dependents are financially secure).

Usually sold as a single or joint life policy, there are many different types of life insurance contracts available.

CRITICAL ILLNESS
Also known as 'Serious Illness Insurance', this contract pays out a tax-free lump sum if you are diagnosed with one of a number of specified 'critical' illnesses during the term of the policy (eg heart attack or stroke - see list below).

The lump sum payment can be used for anything you want but most people use it to provide an income if they become too ill to continue working. Other uses may be to pay off a debt, such as a mortgage, or if necessary, adapt your home.

Most companies offer policies which cover you for death and critical illness, though it should be noted that normally the policy will cease if you claim on the critical illness aspect (ie you will no longer have life cover).

What should I consider when selecting a Life Insurance policy?
The sum insured
Calculate how much money would be needed in the event of your death to pay off all your debts plus how much income your dependents would require to continue the same lifestyle they currently enjoy.

Or, for a more generalised guide then, consider insuring your life for between 5 and 10 times your current net salary after tax.

If you are using life insurance to cover the repayment of a mortgage, the initial sum insured must equal the value currently outstanding on your mortgage.

The Policy Term
Once you have decided on the value of cover you need, the next step is to decide how long you wish to be covered by the insurance.

In other circumstances, the Term is a personal decision but your age should be an important influence. You should note that the minimum Term is usually 5 years and most people select a Term between 10 and 25 years.

Do you want the sum insured to be increased automatically in line with inflation ie an "indexed" policy?
Indexation is an optional extra and your monthly premiums will increase each year in line with the adjustment made by your Insurance Company.

Life policies that provide an increasing sum insured are called 'Increasing Term Insurance'; policies that provide a constant sum insured are known as 'Level Term Insurance'.

Finally, you should always read the Key Features Document for a Life Insurance policy to ensure you understand exactly what you will be insured for and any restrictions that may apply. (eg a common restriction is death caused by being involved in a hazardous pursuit.)

About the Author:
Jason is Head of Business Development for Protection Insurance a specialist Insurance Website. To get a FREE no obligation Life Insurance , visit us now.
Article Source: Articles Directory.net

Tips To Avoid Car Insurance Premium Increases & Becoming Assigned Risk

Below are some tips to reduce your auto insurance bill, prevent substantial premium increases and avoid becoming assigned risk.

Claim Reports: You know about credit reports, you should also know about claim reports. C.L.U.E.® (Comprehensive Loss Underwriting Exchange), is a claim report service provided by ChoicePoint, Inc. ChoicePoint, Inc. states on their web site "C.L.U.E. is a claim history information exchange that enables insurance companies to access prior claim information in the underwriting and rating process. C.L.U.E. Personal Property reports contain up to five years of personal property claims matching the search criteria submitted by the inquiring insurance company. Data provided in C.L.U.E. reports includes policy information such as name, date of birth and policy number, and claim information such as date of loss, type of loss and amounts paid."

Tip: C.L.U.E. reports contain information on claims history by a residence address. Just like credit reports, a C.L.U.E. report may have errors. It is advisable to obtain a copy of your C.L.U.E. report at ChoiceTrust.com to check your report for errors.

Credit reports: Insurance companies are now looking at credit reports to determine future premiums. They have determined that people with better credit scores have fewer claims. Consequently, if you have a poor credit report you may find yourself paying more for car insurance.

Tip: Always make at least the minimum payment for your bills on time, particularly your insurance bill.

Glass Coverage: Most auto insurance salespeople recommend "full" glass coverage for an additional premium, when you purchase collision coverage for your car. They remind you how much it costs to replace all your windows if broken by a vandal. What they do not tell you, and it is unlikely that they would even know (I would only trust the answer from an underwriter, not a sales representative), is whether your insurance company will use a previous glass claim to increase your future premium and whether they will report your glass claims to C.L.U.E.

Some insurance companies will report glass claims to C.L.U.E. and then use these claims to raise your premium or even worse, cancel your car insurance policy making you assigned risk with a substantial premium increase. Allstate notified me that after four claims in less than five years, they terminated my auto insurance policy and then offered to sell me coverage in their Indemnity Company with a shocking premium increase. These claims consisted of two claims for a broken windshield, one for a stolen and recovered car and one accident.

I had a sports car and had to endure a total premium increase over a period of four years of approximately $12,000 and remain claim free before I became eligible for coverage outside of the assigned risk pool. I wrote a letter to the president of Allstate complaining that they should not have considered my glass claims when canceling my car insurance because the glass claims were made under a separate part of the policy for which I paid a separate and additional premium. Allstate responded in a letter stating "Although this claim activity does not indicate that you were directly at fault in each loss, the frequency and severity of the above losses was not within our range of acceptability. After careful review, I regret to inform you that we cannot reverse our original decision regarding the above policy. We have however continued to offer coverage in our Indemnity Company."

Tip: Check with the underwriting department of your insurance company to see if they will consider glass claims when assessing premiums or if they report glass claims to C.L.U.E. If yes, do not make a glass claim. The two windshields which Allstate provided me with were aftermarket windshields which would have cost me less than $300 each. During the last 30 years of my driving history, I have experienced two broken front windshields, one broken rear windshield and two broken side windows. While the financial risk of totaling a car can be substantial, the financial risk of replacing a windshield is comparatively insignificant. It does not make sense to file a glass claim if it will increase your premium. You may even want to decline this coverage altogether and save the premium.

Tip for leased vehicles: Some lease agreements require that the car be returned with an OEM windshield. If you lease a car and replace a front windshield using your "full" glass coverage, insist that the insurance company provide you with an OEM windshield from the manufacturer. If you pay for the windshield yourself, check your lease agreement carefully to see if you must use an OEM windshield from the manufacturer or if you can use an aftermarket windshield. Some people with leased cars who have replaced a windshield with an aftermarket windshield are shocked, when they return their car, to find that the leasing company is charging them $800 for a new OEM windshield, even though the aftermarket windshield is in perfect condition.

Car Rental & Towing Coverage: While it may be a good idea to have this coverage, it is not always a good idea to use it. Some people have realized that this coverage is not just available when an accident has occurred. For instance, some people have used the car rental coverage when their car was in a repair shop or the towing coverage when their car broke down on the road. As with glass coverage, using this coverage may be the same as filing a claim.

Tip: Check with the underwriting department of your insurance company to see if they will consider rental or towing claims when assessing premiums or if they report these claims to C.L.U.E. If yes, do not use car rental or towing coverage unless you have had an accident, in which case it will be part of the accident claim. If you are concerned about towing costs when your car breaks down, you can buy one of the roadside assistance memberships such as the one available from AAA which provides additional benefits not provided by your automobile insurance policy.

About the author:
Philip Franckel manages HURT911® at http://www.HURT911.org an Accident and Injury Research web site.
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High Cost For Health Insurance If You Are Self-employed

One of the greatest uncertainties in life is falling sick or being disabled with no money in your pocket, especially if you are self-employed. This uncertainty can be overcome by a health insurance which is a system in which the insurer, usually a private company or government owned company pays the medical expenses of the insured, if the insured falls sick or gets in an accident due to covered causes. In return the insured has to pay a monthly premium to the insurance company.

Self-employed include farmers, contractors and small business owners, freelance writers, lawyers etc. There are some factors that separate self employed health insurance from ordinary health insurance.

Cost - Self-employed health insurance is costlier than the one´s provided through an employer (like a company). This is because in larger groups the cost of insurance gets distributed as compared to smaller groups. This is one of the reason people are reluctant to go for self employment. There are ways and means to reduce this cost which will be detailed subsequently.

Tax Benefit - Fortunately the self-employed health insurance premium is 100% tax deductible.

Reducing Costs - The best way to reduce this cost is to go for family cover in your spouse group insurance through his/her company (that is if your spouse is working). Another way is if you employ between 2 to 50 people, you can go for group insurance. If you are leaving a corporate job you can opt for COBRA (Consolidated Omnibus Budget Reconciliation Act). COBRA is a law that makes it mandatory for your employer to provide the option of retaining membership in their health insurance plan. However you will have to pay the entire monthly premium part which was paid by your company earlier. You may be surprised at the high cost of the premium which may run up to 500$ a month.

Temporary Health Insurance - If you are planning to remain self employed for a small period of time and plan to join another company later, you can opt for a temporary insurance. This is the cheapest type of health insurance available today. However annually the premium keeps increasing as you grow older.

If you have none of the above ways to reduce insurance cost then the only way is to go for standard individual policy. As mentioned earlier they are usually costly but are very important for insuring the future.

About the Author:
Keith George always writes about valuable news & reviews. A related resource is Self-employed Health Insurance Further information can be found at Questions & Answers
Submitted: 2006-08-07
Article Source: GoArticles

What Does a Health Insurance Broker Do?

Those seeking to understand who is involved in the nebulous system that is contemporary American healthcare will discover a wide variety of individuals, each with unique roles. One such role is that of the health insurance broker, also known as an "independent agent" or "health insurance agent." This article seeks to shed some light on who the health insurance broker is, what they do and, ultimately, what role they play in the selection of health insurance policies.

A health insurance broker's job is to provide clients with the most appropriate health insurance policy. Authorized by specific insurance companies to act on their behalf, the broker essentially guides clients through the process of selecting a policy for themselves or for employees. A broker makes his living (and demographics show the broker is usually a "he") off commissions - sometimes as much as 15%. The rates quoted by broker or by direct contact with insurance provider will be the same because, if the insurance company is contacted directly, the person who makes the sale (known as a "captive agent") will collect the same commission a broker would collect. Some states even mandate the use of insurance brokers.

In most instances, an individual seeking to be a licensed health insurance broker must take a series of courses then take and pass one or more examinations. Once licensed, a state or employer may require health insurance brokers to take additional classes. Because policies and laws change constantly, a broker involved in continuing education will be more current on applicable law and guidelines and, ideally, better prepared to assist clients. Each state makes its own laws to govern the practices of insurance brokers. While no two states have the same law, increasingly states are recognizing licenses granted in other states. This allows brokers to move without retaking examinations or to operate in more than one state simultaneously.

An individual going into their first day of work as a licensed health insurance broker tends to be older than the average person entering into a given area of employment. This is because the typical health insurance broker has transferred into the industry, usually from a sales position in another healthcare field - hospital equipment sales, for example. An individual with a sales background tends to be comfortable with the demands of the job - like providing excellent customer services, working to maintain a client base, and living on a commission-based salary.

While many come into the health care broker industry having worked professionally in other fields, some do enter the field directly after getting a university diploma. Those coming straight from college are likely to have majored in business or sales. In some cases, health insurance brokerage houses will directly mentor undergraduates - and even offer tuition assistance or loan pay-back plans - provided the undergraduate agrees to work for the brokerage house for a pre-determined number of years.

Active health insurance brokers have the option of joining the National Association of Health Underwriters (NAHU) and the umbrella organization of the American Insurance Association (AIA). Both organizations have ethical guidelines that must be followed to maintain membership in good standing. A health insurance broker must divide a typical day between two general tasks: meeting with current and potential clients and fulfilling administrative duties. The broker acts as an agent on behalf of the insurance companies in his or her portfolio, so administrative duties include processing claims, cutting checks and delivering payment. The meetings will be with current clients, to ensure they are being kept abreast of all changes or trends, or potential clients, to present options with the hopes of generating additional business.

Some hire administrative assistance to help but the salary is usually taken from an insurance broker's earnings. It is usually only the seasoned veterans (who may earn over $100,000 annually) who hire help, rather than those relatively new to the industry (who often earn about $40,000 annually).

The health insurance broker functions as the liaison between insurance company and policyholder, but the nature of the industry is changing. Access to the Internet is available to a tremendous number of Americans and, with online access, consumers are more aware than ever before of the healthcare options available to them. This means that any potential client, if they have done their research, will be aware of a variety of policy offerings. Because not every agent is licensed by every company, a broker may not be able to offer the policy that interests a given client. This places the burden on the broker to be aware of all policies available and to be able to present comparable offerings to those that they may not be able to sell.

Just as the Internet has empowered consumers, so has it empowered health insurance brokers. When once the task of acting as conduit between insurance company and policyholder required long administrative hours, computers now allow broker and insurance company to instantly transfer information. Still, time saved by computer must be made up by competing for a limited and educated client base. The new technology has in part driven a trend towards specialization: brokers are marketing themselves as specialists in a given industry. One might be the specialist in non-profit health insurance while another may specialize in the travel industry. This allows brokers to be aware not just of policy options but also of the typical wants, needs and budgets of a given industry.

What directions technology will propel the industry will be revealed only with time. One thing that remains clear is that Americans do not want to worry about their health coverage and will look to experts for help securing the best service at the right price.

About the Author:
Kurt Stammberger is VP, Marketing at Healthia Inc. Healthia provides its researched content free to the Internet community. For more articles call toll-free 877-296-3805 or visit Insurance Brokers
Content Provider: http://www.my-articles.com

Car Crash Insurance

A car crash is a serious situation that involves a lot of people, beginning with the car owners who have been involved in the accident, the police, the judicial system, and the insurance firms that cover car crash victims.

Like all cases where insurance is required, car crash insurance involves much analysis and many negotiations that involve many complex matters and therefore require the expertise of a personal injury lawyer.

In case of a car crash, most insurance companies do their best to reduce the amount that is payable to the victim, pinning the blame on negligent driving or some other fault of the driver. It is therefore very important for any car crash victim to approach a car crash insurance firm to get proper compensation.

Often car crash victims try to be smart by taking cases into their own hands by studying the law and intrinsically trusting the insurance company. However, what one needs to remember in such a case is that knowing about something is different than applying it. Application of the knowledge and using it skillfully is the domain of attorneys. Also, one needs to remember that the insurance company is interested in safeguarding its own interest and, as a result, may mislead the car crash victim into accepting a claim lower than what they are eligible for.

One needs also to remember that statistics have proved that cases represented by experienced and skilled car crash attorneys have fetched the victims a very high compensation. Sometimes, the compensation has been two or even three times more than in the case of those fought by the victims themselves.

It is very important for victims of car crash to obtain professional help from attorneys when car crash insurance is involved. A good attorney may be one's best bet for getting the claim that one deserves from the insurance firm, even if the attorney appears to charge high rates.

About the Author:
Kent Pinkerton
Car Crash provides detailed information on Car Crash, Drunk Driving Car Crash, Fatal Car Crashes, Car Crash Articles and more. Car Crash is affiliated with Car Accident Lawsuits.
Article Submitted On: September 19, 2006
Article Source: http://EzineArticles.com/

Car Insurance Rates: Can You Lower Them?

Car insurance rates are prohibitive nowadays. Many families really struggle to pay the car insurance bill each month. And car insurance rates vary all the time. So if car insurance cost is an issue for you, what can you do about it?

The car insurance industry is a massive industry. It is also a highly competitive one, and car insurance rates vary over time as car insurance companies compete for business. Car insurance rates are often highly fluid.

It is entirely possible to lower the cost of your auto insurance rates by altering your behaviour, and you can do this by having a better understanding of how the rates are assessed.

Car insurance rates are based on an assessment of risk. Whilst insurance companies vary their rates to compete with other insurance companies, they also vary their rates based on their assessment of the risk posed by a particular driver driving a particular car. They do this because there is no point in buying business with low car insurance rates and then insuring high risk drivers at these rates. This is a recipe for losing money.

So, if you lower your risk, you lower your car insurance. How do you lower your risk? Well there’s a number of ways that your own driving and car behaviour can affect your car insurance rates.

Have a look at the car you drive. Is it suitable for your current needs? If not then would it be worthwhile to consider a change?

Different cars attract different auto insurance rates. Sports cars, high powered cars and cars at greater risk of theft attract higher rates. How long have you had your car and would it be wise to think about another one that would be cheaper to insure and more useful to you?

Are you a safe driver? Do you stick to the speed limit? Are you at risk of other driving offences? Many people do not think about some of the consequences of speeding tickets and driving offences until after they have seen their subsequent car insurance bill.

Your risk profile is a direct result of your driving record. A clean driving record and you will be rewarded by cheaper rates. A poor driving record and you will be penalised, usually for quite a while.

Are you willing to attend driver training courses? Many car insurance companies offer specific discounts for drivers who have attended a course. Why? Lower risk.

Are you willing to drive less? Could you car pool or use public transport to get to work? Car insurance companies look at the amount of driving their clients do when assessing their car insurance rates. Why? Lower risk. Less miles driven equals less risk. And you’ll save on other car costs too.

So if auto insurance costs are an issue for you and your family there are things you can do. These are just a few of those things, there are many more. Car insurance rates are not set in stone.

About the Author:
For a website about Car Insurance visit Peter's Website Car Insurance Answers and find out about Car Insurance as well as Cheap Car Insurance and more, including Online Car Insurance Quotes, UK Car Insurance, Car Insurance Rates and Car Insurance Quotes.
Article Source: Articles Directory.net

Ways to Save on Car Insurance

The American economy is sucking a lot of money out of consumers’ pockets due to high gas prices and the general increase in every other consumer good from food to clothing that is associated with high oil prices. However, there is good news on the horizon, and that is that auto insurance rates are being reduced. Despite this reduction, there are several things you should keep in mind when shopping for car insurance to ensure you receive the best rate and coverage for you and your vehicle.

Tip #1 Shop Around
There are so many different auto insurers out there you might think it difficult to find the best insurance at the lowest prices. However, don’t despair because all you have to do is shop around. The easiest way to do this is to go online and search all your favorite car insurers in order to receive a fast and free online quote. Then, you can simply compare the services and prices of the insurers and make the best choice for you. Spending a little time on research might save you hundreds of dollars on car insurance.

Tip #2 Look for the Discounts
You may not have known this, but many auto insurers provide discounts to drivers for good driving behavior and other reasons as well. So, ask about the discounts available through various insurance providers and consider how many you would qualify for. More than likely if you qualify for one or two then your rates could easily drop several hundred dollars per year.

Tip #3 Maintain Your Credit
Unbeknownst to you, your credit score affects your car insurance rate. As a result, you should be sure to maintain your credit score as high as possible in order to not only receive the benefits of good credit, but also to pay lower car insurance premiums. It is really worthwhile, and something you will benefit from economically.

These tips are great ways for you as a consumer to take your car insurance needs into your own hands and find the best provider with the lowest rates and most coverage. When you start doing the research, you will be amazed how much money you can save as well as how many more benefits you can receive. Go ahead and start saving on your auto insurance today, there is no reason to wait.

About the author:
“It is time that we the people stand up and declare we will not be overtaken by the car dealers, but rather we will take the car dealers by storm. Researching the cars is not enough; we need a way to research the dealers themselves." - Dennis James
At Car Dealer Check you can read independent car dealer reviews written by car buyers for car buyers.
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GE Mortgage Insurance Issues Statement on SP CreditWatch

RALEIGH, N.C., June 27 /U.S. Newswire/ -- GE Mortgage Insurance today released the following statement in response to the decision by Standard and Poor's to put GE Mortgage Insurance on CreditWatch:

S&P made its decision despite the fact that our capital position has never been stronger.

The S&P action is based on a change in S&P's rating methodology, not on any change in the financial condition of GE Mortgage Insurance. S&P noted that changes within its rating criteria "now limit the rating support for a strategically important subsidiary to one notch below the parent's rating" unless there is a significant explicit support agreement from a higher rated parent. We believe we have such an agreement from GE Capital, which is rated AAA by Standard & Poor's. Our implicit and explicit support from GE Capital has not changed.

GE Mortgage Insurance always has been one of the strongest capitalized participants in the mortgage insurance industry and continues to hold capital well in excess of S&P "AAA" requirements. In fact, we have operated with the lowest Risk to Capital Ratio (the industry measure of capitalization given a company's portfolio of risk) in the industry for the last five years.

The other two rating agencies, Moody's and Fitch, continue to recognize the unmatched financial strength of GE Mortgage Insurance. Both agencies recently reaffirmed their ratings for the company at "AAA," their highest levels.

We appreciate the fact that Standard & Poor's sees GE Mortgage Insurance as having "strong fundamentals" and "very strong earnings and market position, extremely strong capitalization, and deep and experienced management." Those factors make it clear why GE Insurance includes credit enhancements such as mortgage insurance in its vision for the future.

GE Mortgage Insurance (Web site: http://www.gemortgageinsurance.com) is part of GE Insurance, a global family of insurance and reinsurance businesses with $13.6 billion in premiums and assets of $188 billion. GE Insurance provides life insurance, retirement income products, property and casualty insurance, risk prevention services, mortgage insurance, and selective financial guarantee insurance. GE Insurance is part of General Electric Company, a diversified services, technology and manufacturing company with operations worldwide.

http://www.usnewswire.com/

About the author:
Contact: Terry Souers of GE Mortgage Insurance, 919-846-4459 or terry.souers@ge.com
Press Release
Article Source: Articles Directory.net

Quick Tips to Lower Auto Insurance Rates...

Auto insurance rates are composed of dozens of different variables and while that may add to your confusion, it also allows many chances to find lower rates. By following the tips below you will be able to better tailor your policy to your needs while also saving as much on your premiums as possible.

Increase your deductibles: You can choose to increase your comprehensive and collision deductibles. Many policies are issued with a standard $250 or $500 deductible on these physical damage components. Calculate the savings you will have if you raise these deductibles to $1000. If raising your deductible saves you $125 every 6 months, it would take you two years for you to break even in the event of a claim. Determine if this is an acceptable risk to you.

Get older or get married: Most car insurance policies offer lower rates to older drivers. It's simply a matter of time before your reach 18, 21, or 25 years old and become eligible for these discounts. You can also get married. Married customers can combine their 2 policies into one to save money and married couples are usually offered a lower rate due to their decreased risk of accidents.

Take defensive driving classes: AARP, AAA and other agencies offer defensive driving classes. Check with your insurance company and see if they offer an additional discount for completing a defensive driving class. Even if they do not, the knowledge you gain from attending the class can be an invaluable asset to your driving ability.

Make sure your distance to work is accurate: If you change your job, work from home, or retire, make sure you notify your insurance company. Your rate is calculated partly on the number of miles you drive to work each day and if you are improperly classified you may be paying more money than necessary.

Shop online for your insurance: Online insurance companies offer some of the most competitive rates available today. Shopping online is easy and allows you access to a large number of companies competing for your business. By spending 10 minutes online you may be able to save $100 - $500 a year or more on your car insurance. You can find out how much you can save online by clicking the link below and getting your free quote today.

Please note that this description/explanation is intended only as a guideline. Contact your licensed agent for more information.

About the Author:
Peter Andrues has helped hundreds of people save money on their Car Insurance. Would you like to save $451.00 on your Car Insurance and get $50 in FREE GAS???. Stop by http://DiscountOnlineQuotes.com
Submitted: 2006-08-06
Article Source: GoArticles