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Tuesday, September 16, 2014
Friday, September 12, 2014
Why Companies Need Contractors Liability Insurance
Regardless of if, you are a standard specialist or a
sub-contractor, contractors liability insurance is one kind of insurance
policy plan that you cannot afford to do company without. Not only will
almost all jobs require your company to provide proof of general
liability insurance before allowing it on their residence, but also
ignoring to protect your resources with this wide-ranging kind of
company insurance policy leaves you exposed to sometimes-catastrophic
obligations if incidents or accidents happen during a job.
Contractors liability insurance policy has a number of important types of insurance coverage, that jointly guarantee witnesses, customers, sub-contractors, and employees against these types of claims:
* Marketing Harm (i.e., libel and slander)
* Individual Injury
* Physical Injury
* Items and Completed Operations
* Property Damage
In every case, the contractors liability insurance contains legal and judgment costs caused by statements being registered against the covered specialist. This generally contains the other entire person's hospital costs, earnings lost, and all suffering and pain that could have been sustained.
Examples of the Types of Claims Covered
Advertising Injury
Such a claim is protected by many contractors' general liability policies, but it's probably one of the most rare to actually be registered. Marketing injury is defined as damage continual due to another person's use of slander or libel against the complainant. If you are a specialist, one example might be a sub-contractor submitting an claim against a standard specialist on the assumption that his professional reputation and earning potential has been damaged by damaging reviews and advertising started by the normal specialist.
Individual Injury
A couple of the more-common statements made against contractors, bodily injury and accidents statements happen anytime a third celebration (e.g. a customer or bystander) is unintentionally harmed on a job website as caused by negligence on the part of the specialist. Harm statements sometimes can include psychological and psychological injury that outcome from either irresponsible or purposeful acts by the accused.
Damage to Property
The most-prevalent claim observed on job websites, residence damage statements develop from damage or loss of residence because of the covered person's activities. Such actions might be either purposeful (whereby the harmed celebration may additionally submit an accidents claim for psychological and psychological injury) or random, and are occasionally registered due to loss or accidents that happen after the specialist has already completed the project. One common illustration of this would be a plumbing technician who is charged because water pipes he installed begin dripping and causing harm to the walls and flooring near them.
Products and Finished Services
Products and completed solutions insurance policy is very critical to contractors, because it contains the statements that happen should a client considers that a job was not done properly. This might be by way of a foundation that eventually divides or a wall that breaks at some point after a job has been finished.
Contractors liability insurance policy has a number of important types of insurance coverage, that jointly guarantee witnesses, customers, sub-contractors, and employees against these types of claims:
* Marketing Harm (i.e., libel and slander)
* Individual Injury
* Physical Injury
* Items and Completed Operations
* Property Damage
In every case, the contractors liability insurance contains legal and judgment costs caused by statements being registered against the covered specialist. This generally contains the other entire person's hospital costs, earnings lost, and all suffering and pain that could have been sustained.
Examples of the Types of Claims Covered
Advertising Injury
Such a claim is protected by many contractors' general liability policies, but it's probably one of the most rare to actually be registered. Marketing injury is defined as damage continual due to another person's use of slander or libel against the complainant. If you are a specialist, one example might be a sub-contractor submitting an claim against a standard specialist on the assumption that his professional reputation and earning potential has been damaged by damaging reviews and advertising started by the normal specialist.
Individual Injury
A couple of the more-common statements made against contractors, bodily injury and accidents statements happen anytime a third celebration (e.g. a customer or bystander) is unintentionally harmed on a job website as caused by negligence on the part of the specialist. Harm statements sometimes can include psychological and psychological injury that outcome from either irresponsible or purposeful acts by the accused.
Damage to Property
The most-prevalent claim observed on job websites, residence damage statements develop from damage or loss of residence because of the covered person's activities. Such actions might be either purposeful (whereby the harmed celebration may additionally submit an accidents claim for psychological and psychological injury) or random, and are occasionally registered due to loss or accidents that happen after the specialist has already completed the project. One common illustration of this would be a plumbing technician who is charged because water pipes he installed begin dripping and causing harm to the walls and flooring near them.
Products and Finished Services
Products and completed solutions insurance policy is very critical to contractors, because it contains the statements that happen should a client considers that a job was not done properly. This might be by way of a foundation that eventually divides or a wall that breaks at some point after a job has been finished.
We specialize in Contractor Insurance Liability and provide the
most liability coverage at extremely competitive prices. We cater to
both existing and new contractors for Insurance. Our quotes are provided
back to you within a few hours in most Cases. Read More on Contractors liability insurance
Article Source:
http://EzineArticles.com/?expert=Melissa_A_Henderson
What a Reliable Valuation Could Mean for Your Business Insurance Premium
Running a business requires plenty of time and dedication. It
also means that you need to have reliable business insurance. In order
to know exactly how much you need to insure your business for, it is
best to get a reliable valuation. This will not only help you to get
accurate business insurance but could help with your business insurance
premium in years to come.
How exactly does valuation work? Valuations are conducted by valuation companies and provide you with the overall value of your business as a whole. This will include all of the assets within it. The company that you choose to hire will go through an extensive process to make sure that they valuated each item and the property as a whole accurately. Once the valuation has been completed, you will be given the information and a certificate that has captured the findings. From here, you will be able to insure your business accurately.
Knowing how much your business is worth can greatly affect your business insurance premium. For all you know, you may be paying too much or too little for your insurance per month. If you are paying too much, you will be able to save money and put those extra savings back into the business. If you are paying too little, you will not be covered adequately by your insurance and, subsequently, they will not be able to pay out what you need were a problem to arise.
When you do decide to insure your business property, you will need to look at a variety of different aspects. You can choose to get an overall insurance to cover the business as a whole and also to insure specific aspects. The industry that you are in will determine exactly what you should insure in your business. Basic insurance will cover you for weather issues, theft and damage. In some cases, this insurance will be more than enough to cover all of your needs were you to run into any problems. However, if you do work in a specialized field, it is best to seek the advice of the professionals with regard to other insurance policies that you may need to take out in order to cover all of your assets. These policies may include:
Protecting your business and its assets should be your top priority, which is why you need to get business insurance that will cover every aspect. This is possible once you have had a comprehensive valuation.
How exactly does valuation work? Valuations are conducted by valuation companies and provide you with the overall value of your business as a whole. This will include all of the assets within it. The company that you choose to hire will go through an extensive process to make sure that they valuated each item and the property as a whole accurately. Once the valuation has been completed, you will be given the information and a certificate that has captured the findings. From here, you will be able to insure your business accurately.
Knowing how much your business is worth can greatly affect your business insurance premium. For all you know, you may be paying too much or too little for your insurance per month. If you are paying too much, you will be able to save money and put those extra savings back into the business. If you are paying too little, you will not be covered adequately by your insurance and, subsequently, they will not be able to pay out what you need were a problem to arise.
When you do decide to insure your business property, you will need to look at a variety of different aspects. You can choose to get an overall insurance to cover the business as a whole and also to insure specific aspects. The industry that you are in will determine exactly what you should insure in your business. Basic insurance will cover you for weather issues, theft and damage. In some cases, this insurance will be more than enough to cover all of your needs were you to run into any problems. However, if you do work in a specialized field, it is best to seek the advice of the professionals with regard to other insurance policies that you may need to take out in order to cover all of your assets. These policies may include:
- Crop insurance
- Earthquake insurance
- Boiler insurance
- Flood insurance
- Builders risk insurance
Protecting your business and its assets should be your top priority, which is why you need to get business insurance that will cover every aspect. This is possible once you have had a comprehensive valuation.
You need to come to a valuation company that can provide you with
an accurate assessment of your business. Here at Assetval, we can
provide you with that service. You can rest assured that once we have
completed your valuation, you will have all of the information that you
need to get accurate insurance. If you require any more information
about our services, you can contact us on 011 704 1785:
http://www.assetval.co.za/
Article Source:
http://EzineArticles.com/?expert=Kenneth_Nel
http://www.assetval.co.za/
Wellness and Financial Security
For the past decades up until now, wellness as an industry have
grown so much and have developed into several branches. An example would
be nutrition or food where grocery items such as precooked meat, pasta,
etc. are being labeled with their caloric value aside from the
expiration date. This is to make consumers aware of the nutrition that
they get when they consume a particular food. Some groceries even
included color coding where a red label means it contains a high amount
of a certain nutrient which is more than the needed percent daily
intake. On the other hand, green emphasizes balanced nutrition content.
People today are being more cautious about their health since they are exposed about certain diseases which can be seen through hundreds of television commercials and radio announcements as well as from publications such as newspapers and magazines. Most of these ads are sponsored by large drug companies that aim to sell their products to the public. Also, the commodity that is being sold can cost a lot compared to other brands and even much more expensive when put against generic brands. Let us be honest and ask ourselves why do we need to purchase and consume these drugs? Obviously the answer is "for wellness"
Health Insurance is a commodity that we pay through premiums which can be reimbursed when certain conditions such as illnesses occur. Some circumstances could need medical attention and having a policy to cover the costs will be able to save you from the risk of paying medical services out of your hard earned savings. Mason and Associates Insurance Services provides custom designed coverage that will surely meet your needs. Not only do they assist with small business health insurance, but as well as helping out a business in managing costs by designing a plan that meets the goal of the company. They do the leg work for financial security while you do the work for your health and physical well-being.
Another branch of the wellness industry is fitness, which can be again divided into little sub-parts. Two main sub-categories are totally different from each other, but can be incorporated in terms of use. The first sub-part is sports nutrition wherein food and drinks are used to enhance the performance of the person. And the second part is physical activity where the person is exposed to exercises such as resistance training, yoga, Zumba and even bodybuilding. The two categories when used in unison, becomes more effective in achieving your fitness goals.
People today are being more cautious about their health since they are exposed about certain diseases which can be seen through hundreds of television commercials and radio announcements as well as from publications such as newspapers and magazines. Most of these ads are sponsored by large drug companies that aim to sell their products to the public. Also, the commodity that is being sold can cost a lot compared to other brands and even much more expensive when put against generic brands. Let us be honest and ask ourselves why do we need to purchase and consume these drugs? Obviously the answer is "for wellness"
Health Insurance is a commodity that we pay through premiums which can be reimbursed when certain conditions such as illnesses occur. Some circumstances could need medical attention and having a policy to cover the costs will be able to save you from the risk of paying medical services out of your hard earned savings. Mason and Associates Insurance Services provides custom designed coverage that will surely meet your needs. Not only do they assist with small business health insurance, but as well as helping out a business in managing costs by designing a plan that meets the goal of the company. They do the leg work for financial security while you do the work for your health and physical well-being.
Another branch of the wellness industry is fitness, which can be again divided into little sub-parts. Two main sub-categories are totally different from each other, but can be incorporated in terms of use. The first sub-part is sports nutrition wherein food and drinks are used to enhance the performance of the person. And the second part is physical activity where the person is exposed to exercises such as resistance training, yoga, Zumba and even bodybuilding. The two categories when used in unison, becomes more effective in achieving your fitness goals.
Things You Probably Don't Know About Car Insurance
Auto insurance has been around for as long as people can
remember. Now that everybody knows how to choose a good company having
excellent reputation and strong financial condition, it seems that all
car owners can always purchase coverage from the right insurers. It is
indeed important to choose the best company you can get; you can do this
by conducting little online research to find information about any
particular company' claim ratio, customers satisfaction rating,
financial strength, available discounts, and more.
Nonetheless, there are other things that you probably don't know about auto insurance as briefly outlined in the following passages.
1. Women usually pay less premium fee
In most cases, men drive more aggressively than women do. One of the most important variables that determine your overall insurance premium is whether you are considered safe or high risk driver. The general assumption is that there are more male high-risk drivers than the female ones. As expected, any insurance company is extremely careful when checking your personal data including driving history. High risk driver are more likely to file claims or be involved in accidents either minor or major. Based on the assumption that high-risk category is mostly filled with men, insurer usually charges less premium fee to women.
2. Education level does have its roles in this industry, even when you are customer
Education level and professions are important variables to calculate insurance estimates. Some people consider this a discriminatory practice, and some states indeed ban the use of occupation and education level information as variables in determining insurance premium. However, it does not change the fact that it is the standard practice for years. Some insurers do not use such method, but others simply argue that occupation and schooling do play their roles, based on real statistics. It basically suggests that someone who has a college degree gets better bonus than a high school graduate receives. A bachelor also needs to pay more than someone with a master's degree, and so forth.
Occupation also matters. Some professions involve high stress levels, lack of sleep, frequent overtime working, etc; for car insurance company, such things can be easily related to high risk of accidents. Some of high-risk professions include lawyers, doctors, architects, salespeople, business owners, real estate brokers, etc. On the other hand, low-risk occupations may include scientist, artist, accountants, nurses, pilots, and teachers.
Regardless of your education level and occupation, please ask the company if certain discounts are available for certain professions and academic degree, too. If you don't have a college degree, simply go with the insurer that does not use this particular method. If you have any academic degree, however, it is good to take advantage and get the provided discounts.
3. Credit score is still a major factor
The use of credit score as variable to determine the price of premium fee that every customer has to pay every month is quite controversial. Some states prohibit insurers from using customers' credit information. This practice, however, is still very common. Your current credit score is used for predicting the level of your financial responsibility in the future. A bad credit score is a red flag indicating that you probably will not be able to pay the insurance premium fee in timely manner. This will result in more expensive premium; people with more money can often pay less. Such practice is illegal in some states including California, Massachusetts, and Hawaii.
4. Your money does not stay still
Similar to almost all financial institutions, auto insurance company wants to capitalize upon the already existing capital. In simpler words, the company takes your money and invest it but not on your behalf. The most difficult part of this process is of course attracting new customers. It has tough competition in the market, and your business probably has better deals with other companies in the area. To win the competition, every car insurer has to offer competitive prices yet not too cheap to anticipate payout that you may request in the future after filing claims. Once again, it takes some calculations to figure out the right premium for your particular risks. In most cases, auto insurance company only hopes to manage to reach break-even point from the money that you pay every month.
5. Different place, different price
Another major factor that helps determine premium fee is location or your address. Each state has its own rules about minimum liability coverage, traffic violations fines, etc. Moving to a different state, although not very far from your current address, can affect the premium too since the new location probably has different laws that affect coverage and it has different insurance companies in the existing market as well. Certain locations such as big cities may require you to pay more expensive premium especially if the city has high record of accidents, vehicle theft, etc.
6. Young and old pay most expensive premium
The youngest driver purchases coverage for the most expensive price. The premium will decline steadily until the driver turns 25. From this point, the premium will probably stay flat for quite a while, usually until the driver reaches 55. The premium will once again increase as the driver is old enough to be considered senior; the driver has to pay the most expensive price again at age 75.
Nonetheless, there are other things that you probably don't know about auto insurance as briefly outlined in the following passages.
1. Women usually pay less premium fee
In most cases, men drive more aggressively than women do. One of the most important variables that determine your overall insurance premium is whether you are considered safe or high risk driver. The general assumption is that there are more male high-risk drivers than the female ones. As expected, any insurance company is extremely careful when checking your personal data including driving history. High risk driver are more likely to file claims or be involved in accidents either minor or major. Based on the assumption that high-risk category is mostly filled with men, insurer usually charges less premium fee to women.
2. Education level does have its roles in this industry, even when you are customer
Education level and professions are important variables to calculate insurance estimates. Some people consider this a discriminatory practice, and some states indeed ban the use of occupation and education level information as variables in determining insurance premium. However, it does not change the fact that it is the standard practice for years. Some insurers do not use such method, but others simply argue that occupation and schooling do play their roles, based on real statistics. It basically suggests that someone who has a college degree gets better bonus than a high school graduate receives. A bachelor also needs to pay more than someone with a master's degree, and so forth.
Occupation also matters. Some professions involve high stress levels, lack of sleep, frequent overtime working, etc; for car insurance company, such things can be easily related to high risk of accidents. Some of high-risk professions include lawyers, doctors, architects, salespeople, business owners, real estate brokers, etc. On the other hand, low-risk occupations may include scientist, artist, accountants, nurses, pilots, and teachers.
Regardless of your education level and occupation, please ask the company if certain discounts are available for certain professions and academic degree, too. If you don't have a college degree, simply go with the insurer that does not use this particular method. If you have any academic degree, however, it is good to take advantage and get the provided discounts.
3. Credit score is still a major factor
The use of credit score as variable to determine the price of premium fee that every customer has to pay every month is quite controversial. Some states prohibit insurers from using customers' credit information. This practice, however, is still very common. Your current credit score is used for predicting the level of your financial responsibility in the future. A bad credit score is a red flag indicating that you probably will not be able to pay the insurance premium fee in timely manner. This will result in more expensive premium; people with more money can often pay less. Such practice is illegal in some states including California, Massachusetts, and Hawaii.
4. Your money does not stay still
Similar to almost all financial institutions, auto insurance company wants to capitalize upon the already existing capital. In simpler words, the company takes your money and invest it but not on your behalf. The most difficult part of this process is of course attracting new customers. It has tough competition in the market, and your business probably has better deals with other companies in the area. To win the competition, every car insurer has to offer competitive prices yet not too cheap to anticipate payout that you may request in the future after filing claims. Once again, it takes some calculations to figure out the right premium for your particular risks. In most cases, auto insurance company only hopes to manage to reach break-even point from the money that you pay every month.
5. Different place, different price
Another major factor that helps determine premium fee is location or your address. Each state has its own rules about minimum liability coverage, traffic violations fines, etc. Moving to a different state, although not very far from your current address, can affect the premium too since the new location probably has different laws that affect coverage and it has different insurance companies in the existing market as well. Certain locations such as big cities may require you to pay more expensive premium especially if the city has high record of accidents, vehicle theft, etc.
6. Young and old pay most expensive premium
The youngest driver purchases coverage for the most expensive price. The premium will decline steadily until the driver turns 25. From this point, the premium will probably stay flat for quite a while, usually until the driver reaches 55. The premium will once again increase as the driver is old enough to be considered senior; the driver has to pay the most expensive price again at age 75.
Insurance companies
do not actually hide the aforementioned information from customers. You
can always ask about many things to your company, or you can work with
an independent agent instead of a captive one. Insurance is a must-have
thing; no driver is allowed to drive without it. To make sure that you
purchase from the best insurance company, arm yourself with knowledge about how it works and ask helps from independent agent when you have to.
Article Source:
http://EzineArticles.com/?expert=Javier_V_Boix
5 Things to Check Before You Buy Family Holiday Insurance
When you go on a family holiday, one of the most important things
to organise before you set off is a decent family holiday insurance
policy. If something goes wrong on your travels, it can be the only
thing standing between you and a financial crisis. In some cases,
medical bills abroad can add up to thousands of pounds, even for minor
injuries, so it really is not worth taking the risk.
However, when you buy your policy, there are a number of areas you should look at very carefully so that you know exactly what you are covered for. Here are five key things to keep an eye out for.
1. What Activities Are Covered?
Family holiday insurance policies may provide cover for various activities that are common on holidays, such as swimming and snorkelling. However, when it comes to more extreme sports like skydiving or bungee jumping, you may find that you are not covered. If you then take part in one of these activities and injure yourself, you may have your claim for medical costs refused.
It is therefore essential that you know exactly which activities you are covered for when you travel. Check through the list carefully as you may be surprised: often, activities that you thought would be included may not be.
2. What Are the Per-Item Limits?
If you have cover for lost or stolen personal possessions, you will usually have a maximum amount, which may be in the region of £1,000 or maybe more. However, you should also check whether there is a maximum per-item limit, because this will often be lower. This means if you take an expensive item like a laptop, should it get stolen you will only be able to claim for the maximum per-item limit. You need to know whether the cover provided is enough, and if it is not, you may want to leave your expensive items at home.
3. Is It Cheaper to Get a Multi-Trip Policy?
If you are planning to have more than one family break this year, you may want to find out whether it is cheaper to get a multi-trip policy. If you travel abroad two or three times a year, it could work out less expensive - so do your sums before you purchase anything.
4. Are Pre-Existing Medical Conditions Covered?
Family holiday insurance policies often have exclusions when it comes to pre-existing medical conditions, so check what these are before you buy your policy. It may be that you cannot get cover for your condition, or you may need to pay extra.
5. Do You Need All the Cover?
Sometimes insurers provide different packages with different levels of cover. You should check the level of cover you really need before buying one. For example, the least expensive will often provide just medical expenses, and the more expensive may cover other events like cancellation cover and missed-departure cover. You have to ask yourself what is most suitable for your situation and choose a policy accordingly.
Family holiday insurance is one of the first things you should purchase when you plan a trip. However, make sure you are aware of all the details of a policy before you buy it, focusing especially on these five areas to help you find the most suitable one for your needs.
However, when you buy your policy, there are a number of areas you should look at very carefully so that you know exactly what you are covered for. Here are five key things to keep an eye out for.
1. What Activities Are Covered?
Family holiday insurance policies may provide cover for various activities that are common on holidays, such as swimming and snorkelling. However, when it comes to more extreme sports like skydiving or bungee jumping, you may find that you are not covered. If you then take part in one of these activities and injure yourself, you may have your claim for medical costs refused.
It is therefore essential that you know exactly which activities you are covered for when you travel. Check through the list carefully as you may be surprised: often, activities that you thought would be included may not be.
2. What Are the Per-Item Limits?
If you have cover for lost or stolen personal possessions, you will usually have a maximum amount, which may be in the region of £1,000 or maybe more. However, you should also check whether there is a maximum per-item limit, because this will often be lower. This means if you take an expensive item like a laptop, should it get stolen you will only be able to claim for the maximum per-item limit. You need to know whether the cover provided is enough, and if it is not, you may want to leave your expensive items at home.
3. Is It Cheaper to Get a Multi-Trip Policy?
If you are planning to have more than one family break this year, you may want to find out whether it is cheaper to get a multi-trip policy. If you travel abroad two or three times a year, it could work out less expensive - so do your sums before you purchase anything.
4. Are Pre-Existing Medical Conditions Covered?
Family holiday insurance policies often have exclusions when it comes to pre-existing medical conditions, so check what these are before you buy your policy. It may be that you cannot get cover for your condition, or you may need to pay extra.
5. Do You Need All the Cover?
Sometimes insurers provide different packages with different levels of cover. You should check the level of cover you really need before buying one. For example, the least expensive will often provide just medical expenses, and the more expensive may cover other events like cancellation cover and missed-departure cover. You have to ask yourself what is most suitable for your situation and choose a policy accordingly.
Family holiday insurance is one of the first things you should purchase when you plan a trip. However, make sure you are aware of all the details of a policy before you buy it, focusing especially on these five areas to help you find the most suitable one for your needs.
Patrick Chong is the Managing Director of Insuremore. We provide
low cost travel insurance and offer a range of policies including family holiday insurance,
annual, multi-trip and single-trip insurance. For all your travel cover
needs, Insuremore can help you in the quickest and most cost-efficient
way.
Article Source:
http://EzineArticles.com/?expert=Patrick_Chong
Things You Need to Know Before You Buy a Term Plan
Having dependants is a matter of responsibility and we need to
ensure that we take this up well. Earning enough financially, offering a
good quality of life and taking good care of your family dependants is
the major aspect of this responsibility.
But the responsibility does not just end here. You also need to ensure that the dependants in your family are also taken care of well and lead the same quality of life even in case you met with an unfortunate early death. So, we need to buy term insurance which will provide the necessary risk cover to deal with such situation. Buying any term insurance is not going to solve the problem and you need to be prudent while making a choice of term insurance plan.
To buy the right policy, you need to be aware of the following:
1) Do I need a risk cover?Term insurance is required if you have family members either children, spouse or parents who are dependent on you and you do not have enough savings to cover the cost of living for the family for the rest of life and any ongoing/future loan liabilities.
2) How much risk cover is adequate?
The higher the risk cover you choose the higher would be the premium on the plan. Be sure that the term cover you choose is adequate to help your family sustain the same quality of life as they are pursuing today. Thumb rule says that you should be covered for an amount that is 5-10 times the annual income.
3) Benefits of term life insurance
You need to be sure of term life insurance benefits before buying one. A term insurance is a pure vanilla insurance product that offers risk coverage in the event of an unfortunate death of the insured. Buying term life insurance is cheaper when compared to alternate insurance product like unit linked insurance policies (ULIP) and endowment policies. By paying a relatively small insurance premium, the risk coverage that can be obtained is much larger than for ULIPs. Like other life insurance policies, you also enjoy term insurance tax benefit.
4) Do I need additional cover beyond pure life cover?
A pure vanilla term plan offers risk cover only against death of the insured but there are other situations in life when a risk cover would be as important like suffering from critical illness or accident leading to permanent disability. There are riders that come with a term plan and if you think these riders will add value you can add it your term plan cover.
5) What is the right age to purchase a term insurance?
The earlier you buy a term plan, the better it is for you. If you have started earning it is advisable that you buy a term plan. Buying early gives you the benefit of lower premiums.
But the responsibility does not just end here. You also need to ensure that the dependants in your family are also taken care of well and lead the same quality of life even in case you met with an unfortunate early death. So, we need to buy term insurance which will provide the necessary risk cover to deal with such situation. Buying any term insurance is not going to solve the problem and you need to be prudent while making a choice of term insurance plan.
To buy the right policy, you need to be aware of the following:
1) Do I need a risk cover?Term insurance is required if you have family members either children, spouse or parents who are dependent on you and you do not have enough savings to cover the cost of living for the family for the rest of life and any ongoing/future loan liabilities.
2) How much risk cover is adequate?
The higher the risk cover you choose the higher would be the premium on the plan. Be sure that the term cover you choose is adequate to help your family sustain the same quality of life as they are pursuing today. Thumb rule says that you should be covered for an amount that is 5-10 times the annual income.
3) Benefits of term life insurance
You need to be sure of term life insurance benefits before buying one. A term insurance is a pure vanilla insurance product that offers risk coverage in the event of an unfortunate death of the insured. Buying term life insurance is cheaper when compared to alternate insurance product like unit linked insurance policies (ULIP) and endowment policies. By paying a relatively small insurance premium, the risk coverage that can be obtained is much larger than for ULIPs. Like other life insurance policies, you also enjoy term insurance tax benefit.
4) Do I need additional cover beyond pure life cover?
A pure vanilla term plan offers risk cover only against death of the insured but there are other situations in life when a risk cover would be as important like suffering from critical illness or accident leading to permanent disability. There are riders that come with a term plan and if you think these riders will add value you can add it your term plan cover.
5) What is the right age to purchase a term insurance?
The earlier you buy a term plan, the better it is for you. If you have started earning it is advisable that you buy a term plan. Buying early gives you the benefit of lower premiums.
Compare term insurance
plans online and get higher sum assured to cover your family at a
lowest cost. We provides best offers from leading insurers in India.
Article Source:
http://EzineArticles.com/?expert=Rajesh_Thakur_Singh
What You Need To Know About Discount Prescription Cards
If you have been in the dark about discount prescription cards, here is all the information that you need to know:
How the cards work
When you (the customer) make a purchase at a pharmacy, you present the card to the pharmacy and you are provided with a quote for the amount of money that you will save by making the purchase using the card.
Once you are given the information you have to decide on whether you want to make the purchase using the card or not. You should note that the savings are realized at the point of sale and not later through a rebate process.
People who are fit for the cards
The cards are ideal for everyone: whether you have insurance or not. Although, the cards are ideal for everyone, people without insurance usually attract larger discounts.
You don't have to kick yourself if you have insurance. This is because the cards are also beneficial to you even if you are insured; they allow you avoid high deductibles. You are also eligible for discounts that are not covered by your insurance policy.
Amount that you will save
The amount that you can save depends on a number of factors such as the drugs that you are purchasing and the issuer of the card.
In the best of situations, you can save up to 80% of the cost of the medications; however, the average discount is 15-20%. You should note that generic medications attract higher than average discounts.
How the cards make money
There are three main ways in which the cards make money:
Enrollment, annual or monthly fees: these fees are directly charged to the consumer. The fees can range from a few dollars to $100 per year. Although, this is one of the ways in which the cards make money, there are some cards that don't charge a fee. To save money, you should go for cards that are free.
Transaction fees: these are charged every time you use your card. Although, the fees come at the consumer's expense, they are minor and insignificant to the amount that you will save. Transaction fees are charged by every discount drug card.
Information sales: when you use your card, your information is collected by your card issuer. The information includes: your purchase history, name, and address.
When the card issuer collects the information, he/she sells it to marketers and the marketers use the information to market their products to you. You should note that the information cannot be used to harm you.
How the cards work
When you (the customer) make a purchase at a pharmacy, you present the card to the pharmacy and you are provided with a quote for the amount of money that you will save by making the purchase using the card.
Once you are given the information you have to decide on whether you want to make the purchase using the card or not. You should note that the savings are realized at the point of sale and not later through a rebate process.
People who are fit for the cards
The cards are ideal for everyone: whether you have insurance or not. Although, the cards are ideal for everyone, people without insurance usually attract larger discounts.
You don't have to kick yourself if you have insurance. This is because the cards are also beneficial to you even if you are insured; they allow you avoid high deductibles. You are also eligible for discounts that are not covered by your insurance policy.
Amount that you will save
The amount that you can save depends on a number of factors such as the drugs that you are purchasing and the issuer of the card.
In the best of situations, you can save up to 80% of the cost of the medications; however, the average discount is 15-20%. You should note that generic medications attract higher than average discounts.
How the cards make money
There are three main ways in which the cards make money:
Enrollment, annual or monthly fees: these fees are directly charged to the consumer. The fees can range from a few dollars to $100 per year. Although, this is one of the ways in which the cards make money, there are some cards that don't charge a fee. To save money, you should go for cards that are free.
Transaction fees: these are charged every time you use your card. Although, the fees come at the consumer's expense, they are minor and insignificant to the amount that you will save. Transaction fees are charged by every discount drug card.
Information sales: when you use your card, your information is collected by your card issuer. The information includes: your purchase history, name, and address.
When the card issuer collects the information, he/she sells it to marketers and the marketers use the information to market their products to you. You should note that the information cannot be used to harm you.
Visit our website to find more great information. You will also find drug savings and medication savings cards that will save you a lot of money.
Article Source:
http://EzineArticles.com/?expert=Duncan_Lancer
Your Career Success Is Up To You
Do you want a job or a career? When you have a job you get up and
go to work, perform whatever duties are required of you and collect a
paycheck. Many people who have jobs do so because they have to, not
because they want to.
When you have a job that pays you enough to cover your bills it is very hard to quit it. Many times our jobs means we have a J.O.B.(just over broke) position and although we work 40 plus hours a week we never seem to get by. This makes us slaves to our positions and keep us from looking to have something better. A job can keep you trapped in a position that is very hard to get away from.
A career is something else. It starts with knowing what you want to do each and every day. You prepare for what you will be doing each day by getting a good education. Then once you enter the field you want to work in you actually go to work each day enjoying what you do. You don't have a job: you have a hobby that you love doing and getting paid for each day.
I know this situation first hand. I have had more jobs than any of my friends. I would take a position, stay a few months and then move on because the jobs became boring, I wasn't making enough money, etc. I believed that the answer was in finding the right "job". What I found is when you pursue a career in an industry you want to be in, you can create the opportunity that will allow you to flourish at your work space.
Let me offer a few suggestions about pursuing a career;
1) Be true to yourself - know who you are, what you want and why you want it.
2) Do what you love, the money will follow - don't chase dollar bills. Refuse to work strictly for pay. Instead tap into your passion. Find out what you are willing to do for free and let money be the side benefit.
People who have great careers tend to love what they do. When you are in that category you smile every day and become very grateful for the position you have.
I think finding what you love and then making it work for you is the best career choice anyone can make.
Article Source:
http://EzineArticles.com/?expert=Jeffery_Davis
When you have a job that pays you enough to cover your bills it is very hard to quit it. Many times our jobs means we have a J.O.B.(just over broke) position and although we work 40 plus hours a week we never seem to get by. This makes us slaves to our positions and keep us from looking to have something better. A job can keep you trapped in a position that is very hard to get away from.
A career is something else. It starts with knowing what you want to do each and every day. You prepare for what you will be doing each day by getting a good education. Then once you enter the field you want to work in you actually go to work each day enjoying what you do. You don't have a job: you have a hobby that you love doing and getting paid for each day.
I know this situation first hand. I have had more jobs than any of my friends. I would take a position, stay a few months and then move on because the jobs became boring, I wasn't making enough money, etc. I believed that the answer was in finding the right "job". What I found is when you pursue a career in an industry you want to be in, you can create the opportunity that will allow you to flourish at your work space.
Let me offer a few suggestions about pursuing a career;
1) Be true to yourself - know who you are, what you want and why you want it.
2) Do what you love, the money will follow - don't chase dollar bills. Refuse to work strictly for pay. Instead tap into your passion. Find out what you are willing to do for free and let money be the side benefit.
People who have great careers tend to love what they do. When you are in that category you smile every day and become very grateful for the position you have.
I think finding what you love and then making it work for you is the best career choice anyone can make.
Commercial Insurance for Small Businesses Protects Investments
Small businesses truly are the backbone of the American economy.
In 2013, there were about 28 million small businesses in the U.S. It is
estimated that 50 percent of the working population, or about 120
million people, work for a small business. Additionally, they are
responsible for creating over 65 percent of new jobs since 1995.
Starting a small business is a good option for individuals who want to
work closely with their clients, obtain results without layers of
corporate bureaucracy, and reap the rewards of their hard work. However,
they require research, time, and capital; the Small Business
Administration estimates that it costs about $30,000 to start a
business. In addition to securing a workspace, necessary licenses, and
hiring workers, you should also include the cost of commercial insurance
policies to protect your investment in your startup budget, and take
measures to prevent being sued.
There are a number of different types of commercial insurance policies. The type of business you run will determine the types of policies that will best protect your investment. All businesses should have general liability insurance. If someone is injured by you, your product, your services, or one of your employees, this type of policy will provide you with a defense, and it will pay any damages associated with the alleged loss. Most businesses will benefit from protection offered by property insurance, which insures against the loss of the location, inventory, or equipment. These types of policies may also insure the property of your clients within your control. For example, if you own a watch repair business that burns down, destroying the watches you are repairing, your policy will cover the loss of the watches.
If your business involves transporting employees or equipment in vehicles, obtaining a commercial insurance auto policy is a wise decision. A commercial auto policy protects damage resulting from collisions. It can also cover any damage caused by employees driving their own vehicles for company business. Companies providing professional services should consider professional liability insurance, which is also known as malpractice, or errors and omissions insurance. This type of policy covers lawyers, accountants, notaries, real estate agents, hair salons, and others, for damages associated with improper service.
The sheer number of available policies can be intimidating, and expensive. You may want to inquire about a business policy, which provides a bundle of services at a discounted premium.
Finally, there are a number of steps you can take to help ensure that you do not need to use any of your various policies. Hire a competent attorney to review contracts or advise you on business practices.
Incorporating your business will protect your personal assets from seizure, in the event the business is found liable. You should also do your best to protect files, including client information or credit card numbers.
Consider talking with a commercial insurance agent to discuss policies that might benefit your business.
Someone well versed in the field can spot opportunities for a litigious customer, and recommend appropriate coverage.
There are a number of different types of commercial insurance policies. The type of business you run will determine the types of policies that will best protect your investment. All businesses should have general liability insurance. If someone is injured by you, your product, your services, or one of your employees, this type of policy will provide you with a defense, and it will pay any damages associated with the alleged loss. Most businesses will benefit from protection offered by property insurance, which insures against the loss of the location, inventory, or equipment. These types of policies may also insure the property of your clients within your control. For example, if you own a watch repair business that burns down, destroying the watches you are repairing, your policy will cover the loss of the watches.
If your business involves transporting employees or equipment in vehicles, obtaining a commercial insurance auto policy is a wise decision. A commercial auto policy protects damage resulting from collisions. It can also cover any damage caused by employees driving their own vehicles for company business. Companies providing professional services should consider professional liability insurance, which is also known as malpractice, or errors and omissions insurance. This type of policy covers lawyers, accountants, notaries, real estate agents, hair salons, and others, for damages associated with improper service.
The sheer number of available policies can be intimidating, and expensive. You may want to inquire about a business policy, which provides a bundle of services at a discounted premium.
Finally, there are a number of steps you can take to help ensure that you do not need to use any of your various policies. Hire a competent attorney to review contracts or advise you on business practices.
Incorporating your business will protect your personal assets from seizure, in the event the business is found liable. You should also do your best to protect files, including client information or credit card numbers.
Consider talking with a commercial insurance agent to discuss policies that might benefit your business.
Someone well versed in the field can spot opportunities for a litigious customer, and recommend appropriate coverage.
Are you interested in obtaining commercial insurance? Mobile, AL, business owners can contact us. Visit our site today! http://www.thamesbatre.com/services/commercial-insurance.php.
Article Source:
http://EzineArticles.com/?expert=Andrew_Stratton
Do I Need Motor Legal Protection Cover? (On My Car Insurance)
If you're in an accident that was not your fault, the cost of
getting your car repaired is not the only expense that you'll face.
There are numerous additional costs that you might need to consider,
such as the cost of phone calls to deal with claims and the financial
impact of any essential time off work. These miscellaneous expenses are
the ones that are covered by motor legal protection.
What are the benefits?
The recovery of costs including (but not exclusively):
Is motor legal protection a legal requirement?
Drivers are not legally required to have legal protection, and in fact, a large number of drivers do not have the cover. However, it can be extremely beneficial to invest in motor legal protection to fully shield oneself from all motor-related eventualities.
Consider the following scenario:
Mrs. Davies stops her car at a set of traffic lights. Another car, going too fast, drives into the back of her. The rear of Mrs. Davies' car is badly damaged and she is injured. Mr. Barnes, the man driving the other car, is at fault. While his insurance will pay for the damage to Mrs. Davies' car, there are many other expenses that Mrs. Davies will incur. For example she is forced to pay out for the car-towing fees, a hire car until her car is fixed and a considerable policy excess on her car. Her injuries necessitate a visit to the doctor and because she is self-employed, this causes her to lose half a day's earnings. Mrs. Davies has not got motor legal protection. Uncertain if she is permitted to claim back these expenses and daunted by the prospect of chasing up her claims, she decides not to claim and is left out-of-pocket.
In the above scenario, if Mrs. Davies had motor legal protection she would have felt reassured in knowing that a legal professional would have chased her claims on her behalf, and that her uninsured losses and expenses would have been reimbursed, hassle-free.
Why do some people choose not to buy motor legal protection?
Market research suggests that the main reason people do not buy motor protection is because they feel it is too expensive, an unnecessary expense that can be spared. This view is somewhat paradoxical considering the amount of money typically paid out by the non-fault party in an accident. Granted, some motor protection polices can be unnecessarily expensive with high-commission pushing up the prices. However, if people are prepared to shop around, there are some extremely competitive high-quality, low-cost packages available on the market.
What if you don't have motor legal protection?
Everybody is entitled to claim back any uninsured losses; however this tends to require a lot of effort. You would personally have deal with every single aspect of your claim and although achievable, it would necessitate a lot of time, patience and determination. The benefit of having protection makes the process of getting back to the position you were prior to the accident relatively hassle-free. It will make life easier for you as a driver, providing important peace of mind in knowing that your uninsured losses will be recovered in an accident that was not your fault.
Will your insurer sell you legal expenses?
They may try! Many insurers offer legal protection as an optional extra, often under another name such as uninsured loss recovery or legal expenses insurance. It is important to realise that you are not obligated to take them up on their offer. In fact, you're likely to find that even if you want motor legal protection cover it is cheaper to buy it elsewhere, since most insurance companies charge a premium to add it to your insurance.
What are the benefits?
The recovery of costs including (but not exclusively):
- Vehicle repair and recovery
- Personal injury
- Hire vehicle (often unlimited)
- Loss of earnings
- Policy excess
- Medical bills
- Legal expenses
Is motor legal protection a legal requirement?
Drivers are not legally required to have legal protection, and in fact, a large number of drivers do not have the cover. However, it can be extremely beneficial to invest in motor legal protection to fully shield oneself from all motor-related eventualities.
Consider the following scenario:
Mrs. Davies stops her car at a set of traffic lights. Another car, going too fast, drives into the back of her. The rear of Mrs. Davies' car is badly damaged and she is injured. Mr. Barnes, the man driving the other car, is at fault. While his insurance will pay for the damage to Mrs. Davies' car, there are many other expenses that Mrs. Davies will incur. For example she is forced to pay out for the car-towing fees, a hire car until her car is fixed and a considerable policy excess on her car. Her injuries necessitate a visit to the doctor and because she is self-employed, this causes her to lose half a day's earnings. Mrs. Davies has not got motor legal protection. Uncertain if she is permitted to claim back these expenses and daunted by the prospect of chasing up her claims, she decides not to claim and is left out-of-pocket.
In the above scenario, if Mrs. Davies had motor legal protection she would have felt reassured in knowing that a legal professional would have chased her claims on her behalf, and that her uninsured losses and expenses would have been reimbursed, hassle-free.
Why do some people choose not to buy motor legal protection?
Market research suggests that the main reason people do not buy motor protection is because they feel it is too expensive, an unnecessary expense that can be spared. This view is somewhat paradoxical considering the amount of money typically paid out by the non-fault party in an accident. Granted, some motor protection polices can be unnecessarily expensive with high-commission pushing up the prices. However, if people are prepared to shop around, there are some extremely competitive high-quality, low-cost packages available on the market.
What if you don't have motor legal protection?
Everybody is entitled to claim back any uninsured losses; however this tends to require a lot of effort. You would personally have deal with every single aspect of your claim and although achievable, it would necessitate a lot of time, patience and determination. The benefit of having protection makes the process of getting back to the position you were prior to the accident relatively hassle-free. It will make life easier for you as a driver, providing important peace of mind in knowing that your uninsured losses will be recovered in an accident that was not your fault.
Will your insurer sell you legal expenses?
They may try! Many insurers offer legal protection as an optional extra, often under another name such as uninsured loss recovery or legal expenses insurance. It is important to realise that you are not obligated to take them up on their offer. In fact, you're likely to find that even if you want motor legal protection cover it is cheaper to buy it elsewhere, since most insurance companies charge a premium to add it to your insurance.
It can be easy to see motor legal protection cover as one more
unnecessary expense, but the benefits certainly outweigh the cost. To
find out more about Motor Legal Protection, visit: http://www.bestpricefs.co.uk/motor-legal-protection
Article Source:
http://EzineArticles.com/?expert=Richard_Harry
A Little Bit Of History About Insurance in America
It was one of the founding fathers, Benjamin Franklin, who formed
the first insurance company in 1751, called Philadelphia
Contributionship, and it was home/fire insurance. According to PBS
reports, 143 policies were issued by the company in the first year, and
none of the insured property caught fire for seven years afterwards. In
fact, Philadelphia used the same scheme that all insurance companies use
today; the members of the company paid an amount of money that would be
used to restore financial loss due to fire-related causes. Such payment
is popularly known today as insurance premium. Benjamin Franklin played
a significant role in developing insurance indeed, but he was not the
first to introduce auto insurance. As a matter of fact, the first car
insurer's venture began a little earlier than Benjamin Franklin's time.
The First Known Automotive Insurance in America
People now see car insurance as an inevitable part of everyday lives simply because car is the most-popular means of transportation in the country. Insurer provides essential financial protection for every vehicle owner in the event of an accident that causes property damages, casualties, medical conditions, and all possible financial losses. In America, Detroit is nowadays well-known for its automobile industries. During the late nineteenth to early twentieth century, Ohio was home for innovators of this new type of transportation. It is worth mentioning that the world's first car insurance coverage policy was issued in Dayton, Ohio in 1987. According to Ohio Historical Society, Gilbert J. Loomis was the first person to purchase car auto liability insurance. The policy provided protection for Loomis in terms of financial loss (or financial responsibility) in case his car damaged another person's properties, killed, or injured someone. These policies are more or less similar to those used widely by modern car insurance companies throughout America nowadays; at least, the policies issued to Loomis set examples of what kind of financial protection that car insurance policy should at least provide for the owner.
The car insurance industry slowly began to gain its popularity since then, and it indeed developed into more comprehensive as well. In 1902, the first comprehensive insurance policy provided coverage for fire and theft, so it was no longer for accident-related causes only, according to International Risk Management Institute. In 1912, insurance coverage that combined multiple perils was starting to develop as insurers tried to include fire, property, and liability coverage for automobile into one single policy. Auto insurance coverage policies evolved greatly, but the basic principles remain the same. Benjamin Franklin did not probably think about cars when he started Philadelphia Contribution-ship, but he played a crucial role in developing the system and popularize the idea that insurance does bring peace of mind to the policyholder.
With the rise of the automobile industry in America, insurance also began its expansion. There are many factors involved in the success story of car manufacturing such as expansion of U.S. economy, infrastructure and road development, and the rise of "car culture" itself in the country. Of course, the rapid growth of vehicle production and number of car owners in the country inevitably resulted in more road cars and accidents.
In 1930, more than 100 people were killed in accidents per day. It is not a surprising fact since drivers at that time were not obliged to undergo strict driver licensing, and probably most of them were never registered to any driver test. This was, in fact, an expected consequence due to the absence of driver test or driving schools. In 1920s, due to various political reactions, the government invested more funds to build better roads and traffic control system as well as improve vehicle licensing regulation and implement strict driver test. Massachusetts was a step ahead of most states by establishing driver licensing in 1903; however, the state only started to implement driver licensing in 1952.
Massachusetts and Connecticut were ahead again with the implementation of compulsory insurance and financial responsibility laws. To be more precise, Connecticut's law required driver or vehicle owner to produce valid proof of financial responsibility of at least $10,000 in case one is involved in an accident that resulted in more than $100 worth of damages, injury, medical bills, or when the accident caused the death. Back then, drivers were obliged to what was stated by the law after their first-time accident.
In 1950s, car insurance began to spread widely across the nation in almost all states. Massachusetts was the only states in the country that required drivers to purchase car insurance policy before vehicle registration. In 1956, New York adopted the same regulation; North Carolina took the same step in the following year. During 1960s and 1970s, almost all states developed the same type of regulation although each state has different specific requirements. Considering that the beginning of compulsory insurance law was in 1925, and it was successfully applied throughout the nation by 1970s, the development is staggeringly quick.
The First Known Automotive Insurance in America
People now see car insurance as an inevitable part of everyday lives simply because car is the most-popular means of transportation in the country. Insurer provides essential financial protection for every vehicle owner in the event of an accident that causes property damages, casualties, medical conditions, and all possible financial losses. In America, Detroit is nowadays well-known for its automobile industries. During the late nineteenth to early twentieth century, Ohio was home for innovators of this new type of transportation. It is worth mentioning that the world's first car insurance coverage policy was issued in Dayton, Ohio in 1987. According to Ohio Historical Society, Gilbert J. Loomis was the first person to purchase car auto liability insurance. The policy provided protection for Loomis in terms of financial loss (or financial responsibility) in case his car damaged another person's properties, killed, or injured someone. These policies are more or less similar to those used widely by modern car insurance companies throughout America nowadays; at least, the policies issued to Loomis set examples of what kind of financial protection that car insurance policy should at least provide for the owner.
The car insurance industry slowly began to gain its popularity since then, and it indeed developed into more comprehensive as well. In 1902, the first comprehensive insurance policy provided coverage for fire and theft, so it was no longer for accident-related causes only, according to International Risk Management Institute. In 1912, insurance coverage that combined multiple perils was starting to develop as insurers tried to include fire, property, and liability coverage for automobile into one single policy. Auto insurance coverage policies evolved greatly, but the basic principles remain the same. Benjamin Franklin did not probably think about cars when he started Philadelphia Contribution-ship, but he played a crucial role in developing the system and popularize the idea that insurance does bring peace of mind to the policyholder.
With the rise of the automobile industry in America, insurance also began its expansion. There are many factors involved in the success story of car manufacturing such as expansion of U.S. economy, infrastructure and road development, and the rise of "car culture" itself in the country. Of course, the rapid growth of vehicle production and number of car owners in the country inevitably resulted in more road cars and accidents.
In 1930, more than 100 people were killed in accidents per day. It is not a surprising fact since drivers at that time were not obliged to undergo strict driver licensing, and probably most of them were never registered to any driver test. This was, in fact, an expected consequence due to the absence of driver test or driving schools. In 1920s, due to various political reactions, the government invested more funds to build better roads and traffic control system as well as improve vehicle licensing regulation and implement strict driver test. Massachusetts was a step ahead of most states by establishing driver licensing in 1903; however, the state only started to implement driver licensing in 1952.
Massachusetts and Connecticut were ahead again with the implementation of compulsory insurance and financial responsibility laws. To be more precise, Connecticut's law required driver or vehicle owner to produce valid proof of financial responsibility of at least $10,000 in case one is involved in an accident that resulted in more than $100 worth of damages, injury, medical bills, or when the accident caused the death. Back then, drivers were obliged to what was stated by the law after their first-time accident.
In 1950s, car insurance began to spread widely across the nation in almost all states. Massachusetts was the only states in the country that required drivers to purchase car insurance policy before vehicle registration. In 1956, New York adopted the same regulation; North Carolina took the same step in the following year. During 1960s and 1970s, almost all states developed the same type of regulation although each state has different specific requirements. Considering that the beginning of compulsory insurance law was in 1925, and it was successfully applied throughout the nation by 1970s, the development is staggeringly quick.
Nowadays, car insurance evolved into one of the most-profitable industries in the world thanks to the significant help from the Internet.
Article Source:
http://EzineArticles.com/?expert=Felix_De_Los_Santos
Insurance Career - What's In It for You?
Yes- I'm talking to you! You probably have never thought about it
but nothing happens without insurance. You can't buy a house or a car,
go to a grocery store or do just about anything without every component
of the transaction having some kind of insurance associated with it.
According to the National Association of Insurance Commissioners (NAIC)
for 2012, the US Gross Domestic Product for Finance and Insurance was
over $1.2 trillion employing over 2 million people. We hear a lot about
recent graduates not able to find good jobs and military personnel
coming home to a lack of employment opportunities. Let's face it- no-one
grows up thinking they want to be an insurance agent! So - let's
analyze a few reasons to put a career in insurance on your radar:
It's been a great career for me so far and I'm looking forward to some new challenges as I move into a different position within the industry. I would love to see some "new blood" take advantage of all the Insurance Industry has to offer. It may not seem very glamorous, but I've found it to be a "tight knit" community of some really good folks! I urge you to check it out!
- Recession proof- Even in a "down economy", the requirements for insurance do not go away making the industry somewhat recession proof even when other businesses are distressed.
- Accommodates a wide range of skills- Are you detail oriented and love finding solutions for challenges? Maybe you are into Math, statistics, accounting or computers? You may find helping people, customer service or relationship building more your thing? Almost every professional skill set has a corresponding possible insurance career.
- Many carriers provide training- Depending on the type of position you are interested in, you can take classes to get the knowledge you need or many carriers provide great training. Colleges offering "Insurance Degrees" are few and far between but having any BA degree basically means you have the persistence to accomplish a goal making you "trainable."
- Risk is always changing- The ever developing world is moving so fast that exposures that need protection are also constantly changing. You can never get bored if you make an effort to keep learning new skills and change with the times.
- Corporate America vs. small business- If you want the security or prestige associated with working for a large corporation or want to develop your Entrepreneurial spirit as a small business owner, both options can be available to you in insurance.
- Making the big bucks- As with just about any industry, certain positions are not as lucrative as others. The nice thing about insurance is that you can make a very good or even excellent living depending on your drive for success.
It's been a great career for me so far and I'm looking forward to some new challenges as I move into a different position within the industry. I would love to see some "new blood" take advantage of all the Insurance Industry has to offer. It may not seem very glamorous, but I've found it to be a "tight knit" community of some really good folks! I urge you to check it out!
If you happen to be located in Southern California, love working
with people and would like to make a difference in the Insurance
Industry, contact West Connect Insurance Solutions. We specialize in
training and mentoring Entrepreneurs who would like to build a career
offering proper insurance protection for their clients. Sign up for my
informational newsletter at sharongraeter.com.
Article Source:
http://EzineArticles.com/?expert=Sharon_L_Graeter
How to Find the Best Deal on Errors and Omissions Insurance
In the event that a client files a tortfeasor lawsuit holding a
professional or a partner responsible for breach of contract during
performance of service, or failure to provide said services on agreement
in a bargained for exchange, liability connected with negligence is
covered by an E&O policy.
Often cited under malpractice insurance (I.e. medical), the broader contracting of Errors and Omissions coverage by accountants, architects, engineers, and lawyers is similar to the former in terms of protection from professional liability. Coverage under an E&O policy generally includes payment of court costs for defense in a lawsuit, as well as judgments, settlements, attorney fees. E&O insurance covers court related expenses even in where a case has been dismissed.
Reason for Rate Hikes:
The recent rate hikes on E&O underwriting are somewhat mitigated by the entrance of new insurers without the legacy of losses that would otherwise increase premiums across all sectors. The increase in rates seen in renewals in the past year, however, have occurred in response to major losses within particular professionals.
The varied renewal rate hikes illustrate that deviation from a mean average scale of risk is now accorded professions involved in specialties and locations associated with heightened instability. The result is affecting the E&O insurance marketplace.
Experts indicate that many professionals are left negotiating rates. Insurers willing to negotiate sometimes offer deep discounts on premiums at as little as under 5% higher than the inflationary cost of claims and defense estimates for an industry. Still, many E&O insurers have suggested that 10% to 20% rate hikes are on the horizon.
Finding the Best Deal on E&O:
While purchasers of E&O policies can expect to find some consistency in the indexing of policy rates, those seeing extraordinary rate hikes reflect higher defense costs in terms of retroactive claims. The fact that an E&O policy can be underwritten to cover retroactive transactions, evidences that knowledge of professional or sector history is still nebulous in terms of potential future litigation.
In spite of rate hikes, hidden risk or exposure to near future events in sectors like finance and law continue to promote the E&O insurance market as a value for money investment. Legal reforms respondent to the global financial crisis of 2008, have had much to do with those rate hikes following a record number of professional liability lawsuits.
Often cited under malpractice insurance (I.e. medical), the broader contracting of Errors and Omissions coverage by accountants, architects, engineers, and lawyers is similar to the former in terms of protection from professional liability. Coverage under an E&O policy generally includes payment of court costs for defense in a lawsuit, as well as judgments, settlements, attorney fees. E&O insurance covers court related expenses even in where a case has been dismissed.
Reason for Rate Hikes:
The recent rate hikes on E&O underwriting are somewhat mitigated by the entrance of new insurers without the legacy of losses that would otherwise increase premiums across all sectors. The increase in rates seen in renewals in the past year, however, have occurred in response to major losses within particular professionals.
The varied renewal rate hikes illustrate that deviation from a mean average scale of risk is now accorded professions involved in specialties and locations associated with heightened instability. The result is affecting the E&O insurance marketplace.
Experts indicate that many professionals are left negotiating rates. Insurers willing to negotiate sometimes offer deep discounts on premiums at as little as under 5% higher than the inflationary cost of claims and defense estimates for an industry. Still, many E&O insurers have suggested that 10% to 20% rate hikes are on the horizon.
Finding the Best Deal on E&O:
While purchasers of E&O policies can expect to find some consistency in the indexing of policy rates, those seeing extraordinary rate hikes reflect higher defense costs in terms of retroactive claims. The fact that an E&O policy can be underwritten to cover retroactive transactions, evidences that knowledge of professional or sector history is still nebulous in terms of potential future litigation.
In spite of rate hikes, hidden risk or exposure to near future events in sectors like finance and law continue to promote the E&O insurance market as a value for money investment. Legal reforms respondent to the global financial crisis of 2008, have had much to do with those rate hikes following a record number of professional liability lawsuits.
Save when you buy errors and omissions online at http://www.eoforless.com.
Article Source:
http://EzineArticles.com/?expert=Steve_StrantonCanadian Super Visa - Method for Applying for (TRV) Temporary Resident Visa
The Canadian Government issues a TRV to people having relatives
in Canada. TRV is issued for business, transit and tourism purposes
only.
The Application Must Be Completed In The Following Way
First the time to process the application is considered
If you are planning to go to Canada after three months then you need to know the time the Canadian embassy would take to process your application. One should apply for a visa if he knows that he would be visiting his child living in Canada in future. This needs to be done following the due process and with adequate time at hand. So even if the embassy wants to interview you more than once, they can, without disturbing your plans.
Therefore, what you can do is file for visa at least 7 months to 8 months before you have planned to go, as this will also take into account the buffer and approval time. A minimum of six months will be taken by the consulate to collect information about you, your business, your health, your income, your liabilities et al. So even if your application is pending now, you can rest assured that it will be processed by the end of this period.
The Method For Applying For Canadian Super Visa
For the people who have no idea, we must tell you that you can opt for any one option out of the two:
One is to Apply Online
It is the easiest way as you can sit anywhere, anytime, download the form, and fill it. Filling an online form is a much better option because you can correct your mistakes while you are filling the form. The application is quite long and has lot of questions in different sections that you have to answer. The things you need to fill out the form are a scanner and a camera with the computer or laptop for creating the electronic copies of documents. Moreover, you need a valid way to make an online payment of the fees. For purpose of payment, you can use a credit card so make sure it is valid for making payment.
Do not provide any fake documents or information, as the documents will be checked, and in case you are caught, you will be punished.
Second Option Is Applying on Paper
You will get the application form from the immigration office and you can sit back and fill it, but this is only possible if you know what all documents you need and for that, you have to study information guide given before issuing the application for a Canadian TRV.
Fill in all the blocks with desired information, in case you leave some empty then your application can be rejected or deemed as incomplete. Ask the people in the office to guide you through the instruction guide if you are not able to understand something but do not leave the questions unanswered. Furthermore, you also receive an application kit as a reference to help you answer the questions and the application itself has instructions on the front page. These instructions tell you what pen you have to use to fill the form, the style of writing etc. Read the instructions carefully to avoid mistakes.
Article Source:
http://EzineArticles.com/?expert=Rajesh_Sahotra
The Application Must Be Completed In The Following Way
First the time to process the application is considered
If you are planning to go to Canada after three months then you need to know the time the Canadian embassy would take to process your application. One should apply for a visa if he knows that he would be visiting his child living in Canada in future. This needs to be done following the due process and with adequate time at hand. So even if the embassy wants to interview you more than once, they can, without disturbing your plans.
Therefore, what you can do is file for visa at least 7 months to 8 months before you have planned to go, as this will also take into account the buffer and approval time. A minimum of six months will be taken by the consulate to collect information about you, your business, your health, your income, your liabilities et al. So even if your application is pending now, you can rest assured that it will be processed by the end of this period.
The Method For Applying For Canadian Super Visa
For the people who have no idea, we must tell you that you can opt for any one option out of the two:
One is to Apply Online
It is the easiest way as you can sit anywhere, anytime, download the form, and fill it. Filling an online form is a much better option because you can correct your mistakes while you are filling the form. The application is quite long and has lot of questions in different sections that you have to answer. The things you need to fill out the form are a scanner and a camera with the computer or laptop for creating the electronic copies of documents. Moreover, you need a valid way to make an online payment of the fees. For purpose of payment, you can use a credit card so make sure it is valid for making payment.
Do not provide any fake documents or information, as the documents will be checked, and in case you are caught, you will be punished.
Second Option Is Applying on Paper
You will get the application form from the immigration office and you can sit back and fill it, but this is only possible if you know what all documents you need and for that, you have to study information guide given before issuing the application for a Canadian TRV.
Fill in all the blocks with desired information, in case you leave some empty then your application can be rejected or deemed as incomplete. Ask the people in the office to guide you through the instruction guide if you are not able to understand something but do not leave the questions unanswered. Furthermore, you also receive an application kit as a reference to help you answer the questions and the application itself has instructions on the front page. These instructions tell you what pen you have to use to fill the form, the style of writing etc. Read the instructions carefully to avoid mistakes.
Businesses That May Require Commercial Auto Insurance
Commercial auto insurance is an essential expense for a large
number of businesses. This type of coverage protects a business from
potential lawsuits if any of their vehicles are involved in an accident,
no matter who is at fault. Many people believe this coverage is only
needed for shipping or transportation businesses. Here are some
businesses that can also benefit from commercial auto insurance.
Catering Companies
These businesses often have employees traveling to and from worksites daily. A chance of something happening during the drive always exists. The company could face a lawsuit if the driver was deemed at fault in an accident. This coverage helps pay the costs of any damages or litigation.
Driving Instructor
If you are a driving instructor who uses your own car, especially if the vehicle is an instructor car with two brakes, you should consider extra coverage. Many insurance plans do not cover incidents that involve an unrelated driver operating the vehicle. If vehicle has been written off as a business expense for tax purposes, it may not qualify for simple coverage.
Pizza Delivery
If a driver uses a company-provided car, then the business may be liable. However, many delivery businesses protect themselves by requiring the drivers to use their own cars. This places the burden for obtaining insurance coverage back on the individual drivers.
At-Home Care or Education Professionals
If you are required to travel regularly while transporting job-related equipment or materials, it may make sense to have commercial auto insurance. Whether you represent your own small business or are a contracted employee, this type of coverage can help reimburse the cost of lost equipment following an accident. Plus, it may prevent a job-related claim from affecting the rates of any personal coverage plans.
With a proper plan in place, any accidents or injuries that occur involving a company vehicle should be covered by the insurer. This shields not only the driver, but also the business owner from facing a large lawsuit or major claims for damages or medical expenses. When purchased by a well-known or large corporation, these plans become relatively inexpensive on a per-vehicle basis. You may need to contact the local department of labor or DMV in order to determine if you are legally required to have this kind of plan.
Even if it is not a requirement, commercial auto insurance can give both the drivers and business owners some peace of mind knowing that they are covered if the unplanned should arise.
Catering Companies
These businesses often have employees traveling to and from worksites daily. A chance of something happening during the drive always exists. The company could face a lawsuit if the driver was deemed at fault in an accident. This coverage helps pay the costs of any damages or litigation.
Driving Instructor
If you are a driving instructor who uses your own car, especially if the vehicle is an instructor car with two brakes, you should consider extra coverage. Many insurance plans do not cover incidents that involve an unrelated driver operating the vehicle. If vehicle has been written off as a business expense for tax purposes, it may not qualify for simple coverage.
Pizza Delivery
If a driver uses a company-provided car, then the business may be liable. However, many delivery businesses protect themselves by requiring the drivers to use their own cars. This places the burden for obtaining insurance coverage back on the individual drivers.
At-Home Care or Education Professionals
If you are required to travel regularly while transporting job-related equipment or materials, it may make sense to have commercial auto insurance. Whether you represent your own small business or are a contracted employee, this type of coverage can help reimburse the cost of lost equipment following an accident. Plus, it may prevent a job-related claim from affecting the rates of any personal coverage plans.
With a proper plan in place, any accidents or injuries that occur involving a company vehicle should be covered by the insurer. This shields not only the driver, but also the business owner from facing a large lawsuit or major claims for damages or medical expenses. When purchased by a well-known or large corporation, these plans become relatively inexpensive on a per-vehicle basis. You may need to contact the local department of labor or DMV in order to determine if you are legally required to have this kind of plan.
Even if it is not a requirement, commercial auto insurance can give both the drivers and business owners some peace of mind knowing that they are covered if the unplanned should arise.
To learn more about commercial auto insurance in Texas, visit http://www.americantruckinsurance.com/texas-coverage/.
Article Source:
http://EzineArticles.com/?expert=Aaliyah_Arthur
Five of the Funniest Ads From Insurance Companies
Advertising is a great tool to make what might be considered a
boring or banal topic into something humorous. Insurance companies have
utilized television advertising both to compete with other companies and
to make the viewer laugh, which might incline them to buy the policy.
Over the years the advertisements have become funnier and more creative.
Here are a few of the funniest ads from insurance companies currently
in play.
Geico's Oldest Trick In the Book
Geico has used a variety of ads to catch the attention of the viewer. Most notable is the Geico gecko, who is referenced in the start of this commercial but doesn't contribute to the meat of the humor. Ever heard the saying "the oldest trick in the book?" Geico takes this played out saying and literally depicts the prank claiming its first victim. By taking this phrase and making it literal, the audience is sure to chuckle.
Esurance's Facebook Wall Writer
In a competitive spirit, Esurance quotes Geico's motto "fifteen minutes could save you fifteen percent on car insurance" and claims that the notion is outdated. By doing this, they portray an elderly woman, who has vastly misunderstood the concept of Facebook and writing on a person's wall. She takes this literally by writing on physical walls while claiming that she's hip and saved fifteen percent with Geico. Depicting a woman who is vastly behind the technological times, Esurance can claim that their policies are for the modern world.
Insurance Agent Jingle
Perhaps one of the funniest advertisements currently in play, an agency has created a jingle for their customers in need. When sung, an agent magically appears and assures the person of their coverage. The person standing nearby, either the other car accident victim or a friend, tries to mimic this jingle with their own no-name insurance companies. Instead of an agent, a questionable looking character appears who offers no comfort or assurance.
Farmer's Uninsured Robot
The advances of technology all have us wondering when cars may be able to drive themselves or if robots will be invented. This commercial puts a futuristic robot in a human situation (in the seat of a driver's education car) and depicts him running away after crashing into the car ahead. Farmer's cleverly depicts an uninsured driver while playing on the notion of advancing technology.
Nationwide's Giant Baby
We've all heard men refer to their precious cars as their babies. In this commercial, instead of a car, we actually see a giant baby. Here the owner is crying over, protecting and washing his "baby." Like the Geico commercial, the figurative turned literal is the means for laughter in this advertisement.
Whether these commercials produce more business is a question for the bookkeeper, but each company seems to know the importance of laughter. Laughter is sure to inspire positive thoughts in the viewer, leaving them with a positive impression of the brand as the company name flashes on the screen.
Geico's Oldest Trick In the Book
Geico has used a variety of ads to catch the attention of the viewer. Most notable is the Geico gecko, who is referenced in the start of this commercial but doesn't contribute to the meat of the humor. Ever heard the saying "the oldest trick in the book?" Geico takes this played out saying and literally depicts the prank claiming its first victim. By taking this phrase and making it literal, the audience is sure to chuckle.
Esurance's Facebook Wall Writer
In a competitive spirit, Esurance quotes Geico's motto "fifteen minutes could save you fifteen percent on car insurance" and claims that the notion is outdated. By doing this, they portray an elderly woman, who has vastly misunderstood the concept of Facebook and writing on a person's wall. She takes this literally by writing on physical walls while claiming that she's hip and saved fifteen percent with Geico. Depicting a woman who is vastly behind the technological times, Esurance can claim that their policies are for the modern world.
Insurance Agent Jingle
Perhaps one of the funniest advertisements currently in play, an agency has created a jingle for their customers in need. When sung, an agent magically appears and assures the person of their coverage. The person standing nearby, either the other car accident victim or a friend, tries to mimic this jingle with their own no-name insurance companies. Instead of an agent, a questionable looking character appears who offers no comfort or assurance.
Farmer's Uninsured Robot
The advances of technology all have us wondering when cars may be able to drive themselves or if robots will be invented. This commercial puts a futuristic robot in a human situation (in the seat of a driver's education car) and depicts him running away after crashing into the car ahead. Farmer's cleverly depicts an uninsured driver while playing on the notion of advancing technology.
Nationwide's Giant Baby
We've all heard men refer to their precious cars as their babies. In this commercial, instead of a car, we actually see a giant baby. Here the owner is crying over, protecting and washing his "baby." Like the Geico commercial, the figurative turned literal is the means for laughter in this advertisement.
Whether these commercials produce more business is a question for the bookkeeper, but each company seems to know the importance of laughter. Laughter is sure to inspire positive thoughts in the viewer, leaving them with a positive impression of the brand as the company name flashes on the screen.
When they're looking for dependable insurance companies, Mobile, AL residents trust Thames Batre Insurance. Learn more at http://www.thamesbatre.com/.
Article Source:
http://EzineArticles.com/?expert=Andrew_Stratton
Are You Caring For Your Family? If Yes, First Get Insured
Insurance is a cost and utter waste. This is what many people
consider when the insurance subject is discussed. Remember, this cost is
the least when you compare the benefits gained when an unfortunate
event like death, accident, theft, etc. occurs. The money spent in
insurance contracts is a good saving cum investment. Furthermore, it
takes care of the welfare of your family.
You can make a choice of good plans to cover the basic risks like Health, Home, Vehicles, etc.. For your business or profession, go for the policies that will insure the risks associated with your products, furniture and fittings, plant and machinery, etc..
What is an insurance? The risks involved in our life are multifarious. Sudden demise of a person is an unbearable and irreparable loss to everybody. That too, an untimely death leaves shock and void in the family. To protect against such unfortunate events and risks, a mechanism called insurance is in place.
Types of Insurance: Basically, two types of insurance exist as Life and non-Life insurance. The First type is for compensating the dependents upon the death of the policy holder. It has two varieties as 1) Pure insurance or term insurance where premium rate will be lower, but no returns or refunds made if the person survives after the policy period. 2) Endowment type, where death and maturity benefits are combined, comes at a higher premium. Non-life products cover the risks like Accident, Marine, Health, Goods, Agricultural crops, Cash-in-transit, etc. Additionally, a third type exists as Reinsurance, which insures risks like Satellite, Spacecraft, etc... involving huge amounts.
Do's & Don'ts of Insurance: 1) Read the contract notes. Even after taking all precautions before buying an insurance product, some exclusions are made to the risks covered. 2) Keep the policy in force by paying the premium regularly. Your claim will be rejected if you have not paid the premium. 3) Inform the insurance company about any changes in your address, the nature and composition of assets covered, etc.. These issues crop up in the case of business assets and movable assets like vehicles. When you acquire a second-hand asset, the risk is more: you have to make sure the title is transferred into your name. 4) Always source the insurance products from the reputed companies that have a good reputation in the market. New insurers tend to secure more business and profit, but avoid the payment of the claims under their policies.
So, Insurance is a not a liability, but an investment for the future. Insurance agent alone provides solace and relief and in fact brings good news, when others simply console when a family bereaved.
Wise People Remain Insured.
Article Source:
http://EzineArticles.com/?expert=Mohan_Thulasingam
You can make a choice of good plans to cover the basic risks like Health, Home, Vehicles, etc.. For your business or profession, go for the policies that will insure the risks associated with your products, furniture and fittings, plant and machinery, etc..
What is an insurance? The risks involved in our life are multifarious. Sudden demise of a person is an unbearable and irreparable loss to everybody. That too, an untimely death leaves shock and void in the family. To protect against such unfortunate events and risks, a mechanism called insurance is in place.
Types of Insurance: Basically, two types of insurance exist as Life and non-Life insurance. The First type is for compensating the dependents upon the death of the policy holder. It has two varieties as 1) Pure insurance or term insurance where premium rate will be lower, but no returns or refunds made if the person survives after the policy period. 2) Endowment type, where death and maturity benefits are combined, comes at a higher premium. Non-life products cover the risks like Accident, Marine, Health, Goods, Agricultural crops, Cash-in-transit, etc. Additionally, a third type exists as Reinsurance, which insures risks like Satellite, Spacecraft, etc... involving huge amounts.
Do's & Don'ts of Insurance: 1) Read the contract notes. Even after taking all precautions before buying an insurance product, some exclusions are made to the risks covered. 2) Keep the policy in force by paying the premium regularly. Your claim will be rejected if you have not paid the premium. 3) Inform the insurance company about any changes in your address, the nature and composition of assets covered, etc.. These issues crop up in the case of business assets and movable assets like vehicles. When you acquire a second-hand asset, the risk is more: you have to make sure the title is transferred into your name. 4) Always source the insurance products from the reputed companies that have a good reputation in the market. New insurers tend to secure more business and profit, but avoid the payment of the claims under their policies.
So, Insurance is a not a liability, but an investment for the future. Insurance agent alone provides solace and relief and in fact brings good news, when others simply console when a family bereaved.
Wise People Remain Insured.
Would You Walk A Tightrope Without A Safety Net?
Scary thought right? Walking across a rope with nothing to catch
you if you fall. It is all about risk; right? The risk you could lose
your balance and end up a spot on the floor. Not a pretty image is it?
You would want that net in place to ensure your safety. You would want
to know everything will be alright if you fall screaming from the sky.
Makes sense doesn't it? Consider another question. If you or your spouse were to die, what would your family have as a financial safety net? Would they suffer financially as well as emotionally? How would the bills get paid? Would your family have to drastically change their lifestyle?
According to a "2014 Insurance Barometer Study, Life Happens and LIMRA" 31% of those taking part in the study say they would feel the financial impact from the death of the primary wage earner in one month. The study further uncovered that almost half of adults age 25 - 44 are concerned with leaving dependents in a difficult financial situation should they die prematurely. And a third of people wish their spouse or partner had life insurance - or more of it.
This brings us to why? Why do families all across the United States fail to have even a basic safety net? The Life Happens and LIMRA study explored why families delay buying life coverage. The reasons are broken into two categories, first is cost, second priorities and procrastination. Let's look at cost.
COST
According to the study:
Cost is certainly a factor for families who are considering insurance however, and even though they realize coverage is needed, many never get around to discussing their needs and cost with an insurance professional. If you have never discussed life with an agent, consider doing so before deciding insurance is out of your budget. When you consider the financial security owning life insurance would provide for your family, isn't it worth exploring?
PRIORITIES AND PROCRASTINATION
Life is full of distractions. We often put off till tomorrow what we should do today. We fail to see the long term impact of kicking the can down the road so to speak. Buying insurance is often set aside in favor of other priorities. The study found that:
THE BIG PICTURE
Who benefits from the proceeds of life insurance? Life coverage is not for the dead, it is for the living. Owning life insurance will provide money when it's needed most - at the death of a wage earner. The death benefit provided by life insurance can enable your family to remain financially sound. This means; staying in their home, attending the same school, providing money for college and replacing lost income. All things you would have provided for your family had you lived.
Is life insurance right for you and your family? Only you can answer that question.
WHAT'S THE NEXT STEP?
First find an insurance professional. Meet with them and discuss what financial needs your family would have in the event of your death. Be sure to work with an insurance professional you feel you can trust. If you get an uneasy feeling in your gut after a conversation, move on to the next professional. There is no shortage of insurance professionals where you live.
What's important is you take action. Waiting to buy life insurance can be costly. A change in health could mean higher cost or in some cases coverage not available. Because we do not know when death will occur, dying without life insurance could leave your loved-ones in a serious financial bind. These critical money issues could be avoided simply by owning adequate life insurance.
THE BOTTOM LINE
Life insurance plays a significant role in a family's overall financial picture. Though there is cost involved in owning life insurance coverage, the piece of mind and financial stability it provides can be invaluable to your family if life does not go as planned.
A life insurance professional can help you determine if you have a need. They can assist you in finding a plan to address that need. However, the choice is yours whether to own life insurance, or not. Only you can make that important financial decision.
Makes sense doesn't it? Consider another question. If you or your spouse were to die, what would your family have as a financial safety net? Would they suffer financially as well as emotionally? How would the bills get paid? Would your family have to drastically change their lifestyle?
According to a "2014 Insurance Barometer Study, Life Happens and LIMRA" 31% of those taking part in the study say they would feel the financial impact from the death of the primary wage earner in one month. The study further uncovered that almost half of adults age 25 - 44 are concerned with leaving dependents in a difficult financial situation should they die prematurely. And a third of people wish their spouse or partner had life insurance - or more of it.
This brings us to why? Why do families all across the United States fail to have even a basic safety net? The Life Happens and LIMRA study explored why families delay buying life coverage. The reasons are broken into two categories, first is cost, second priorities and procrastination. Let's look at cost.
COST
According to the study:
- 80% of Americans overestimate the cost of life coverage
- People with no life insurance overestimate the cost by more than 3x and those with coverage by more than 2x
- Those under 25 think the cost of life coverage is almost 10x its true cost
Cost is certainly a factor for families who are considering insurance however, and even though they realize coverage is needed, many never get around to discussing their needs and cost with an insurance professional. If you have never discussed life with an agent, consider doing so before deciding insurance is out of your budget. When you consider the financial security owning life insurance would provide for your family, isn't it worth exploring?
PRIORITIES AND PROCRASTINATION
Life is full of distractions. We often put off till tomorrow what we should do today. We fail to see the long term impact of kicking the can down the road so to speak. Buying insurance is often set aside in favor of other priorities. The study found that:
- 59% haven't bought life insurance or more of it because they have "other financial priorities"
- 52% put expenses such as cable or cell phone ahead of buying life insurance
- 30% haven't bought life insurance or more of it because they "haven't gotten around to it"
THE BIG PICTURE
Who benefits from the proceeds of life insurance? Life coverage is not for the dead, it is for the living. Owning life insurance will provide money when it's needed most - at the death of a wage earner. The death benefit provided by life insurance can enable your family to remain financially sound. This means; staying in their home, attending the same school, providing money for college and replacing lost income. All things you would have provided for your family had you lived.
Is life insurance right for you and your family? Only you can answer that question.
WHAT'S THE NEXT STEP?
First find an insurance professional. Meet with them and discuss what financial needs your family would have in the event of your death. Be sure to work with an insurance professional you feel you can trust. If you get an uneasy feeling in your gut after a conversation, move on to the next professional. There is no shortage of insurance professionals where you live.
What's important is you take action. Waiting to buy life insurance can be costly. A change in health could mean higher cost or in some cases coverage not available. Because we do not know when death will occur, dying without life insurance could leave your loved-ones in a serious financial bind. These critical money issues could be avoided simply by owning adequate life insurance.
THE BOTTOM LINE
Life insurance plays a significant role in a family's overall financial picture. Though there is cost involved in owning life insurance coverage, the piece of mind and financial stability it provides can be invaluable to your family if life does not go as planned.
A life insurance professional can help you determine if you have a need. They can assist you in finding a plan to address that need. However, the choice is yours whether to own life insurance, or not. Only you can make that important financial decision.
Barry S. Taylor is the managing partner of Integrated Planning
Solutions and Phoenix Financial Coaching. Seeing the need for better
financial education and a genuine desire to help everyday families to
improve their financial health. Barry is passionate about helping people
to discover a better way to approach their finances.
Through Integrated Planning Solutions, we can help families with affordable protection to build a financial safety net. Phoenix Financial Coaching offers one-on-one coaching to develop financial strategies based on the family's goals and values.
Want to learn more about Integrated Planning Solutions? Visit us at http://www.ipsolutionsaz.com. For more information about our financial coaching offered through Phoenix Financial Coaching, visit phoenix.ipsolutionsaz.com (no www).
Article Source:
http://EzineArticles.com/?expert=Barry_S_Taylor
Through Integrated Planning Solutions, we can help families with affordable protection to build a financial safety net. Phoenix Financial Coaching offers one-on-one coaching to develop financial strategies based on the family's goals and values.
Want to learn more about Integrated Planning Solutions? Visit us at http://www.ipsolutionsaz.com. For more information about our financial coaching offered through Phoenix Financial Coaching, visit phoenix.ipsolutionsaz.com (no www).
Thursday, September 11, 2014
What Policies Should You Buy From Your Insurance Agent?
Some people do not put any thought into who they chose to buy
coverage from. They will employ the services of anyone recommended. What
you should be looking for is someone who is willing to sit down with
you and explain what types of coverage you need and why. You should
never buy any policy that you do not personally understand. Having a
trusted insurance agent in your professional portfolio is a necessary
component to protecting yourself and your assets.
There are policies that cover just about everything imaginable. Unfortunately, not all of them are necessary. Here is a list of the absolutely important policies you need to get in place right now.
Homeowner's or Renter's
There is more to life than stuff, but that does not mean you should not protect the things you have. A homeowner's or renter's policy will cover your possessions in the event of a loss. Make sure you have guaranteed replacement costs in order to fully compensate you for the losses.
Automobile
Driving around uninsured is inviting disaster to your finances. If you can afford a higher deductible, it will your monthly premium low. Ask your insurance agent to crunch the numbers and see if collision coverage makes sense in your situation and to confirm the adequate amount of liability for you.
Health
Likewise, medical coverage is non negotiable. An emergency or devastating diagnosis will bankrupt you quicker than anything else. There have been a lot of changes recently with the passing of the Affordable Care Act, so be sure to explore all your options. You may want to consider opening a Health Savings Account as well.
Disability
Check with your employer to see if this is a benefit they provide. Many businesses offer disability at a lower rate than you would be able to get by yourself. You want the policy to cover at least 65% of your income and, if possible, to pay out if you are unable to perform your specific job duties.
Long-Term Care
This is a policy that you do not need to put in place until after you turn 60. Once you are 60, however, you have about a 70% chance of ending up in an extended care facility. Make sure you are able to afford that level of care easily if that time comes.
Identity Theft
Identity theft is the fasting growing fraud activity in the United States. You can easily spend hundreds of hours trying to rectify the situation if your information gets stolen. Instead, make sure your provider has restoration services so the burden is on them to sort through everything, not you.
Life
If anyone depends on your income, then you need life insurance. There are many different policies, but the best value is term life. Term has the lowest premiums with the most coverage. There is no savings or investing involved, and there shouldn't be. You are transferring the risk of losing your income, not trying to grow an investment.
There may be some other coverage you require but these are the minimums. Again, make sure you are employing a trustworthy insurance agent that is willing to explain why you need what you need. Do not pay for anything that you do not understand or agree with.
There are policies that cover just about everything imaginable. Unfortunately, not all of them are necessary. Here is a list of the absolutely important policies you need to get in place right now.
Homeowner's or Renter's
There is more to life than stuff, but that does not mean you should not protect the things you have. A homeowner's or renter's policy will cover your possessions in the event of a loss. Make sure you have guaranteed replacement costs in order to fully compensate you for the losses.
Automobile
Driving around uninsured is inviting disaster to your finances. If you can afford a higher deductible, it will your monthly premium low. Ask your insurance agent to crunch the numbers and see if collision coverage makes sense in your situation and to confirm the adequate amount of liability for you.
Health
Likewise, medical coverage is non negotiable. An emergency or devastating diagnosis will bankrupt you quicker than anything else. There have been a lot of changes recently with the passing of the Affordable Care Act, so be sure to explore all your options. You may want to consider opening a Health Savings Account as well.
Disability
Check with your employer to see if this is a benefit they provide. Many businesses offer disability at a lower rate than you would be able to get by yourself. You want the policy to cover at least 65% of your income and, if possible, to pay out if you are unable to perform your specific job duties.
Long-Term Care
This is a policy that you do not need to put in place until after you turn 60. Once you are 60, however, you have about a 70% chance of ending up in an extended care facility. Make sure you are able to afford that level of care easily if that time comes.
Identity Theft
Identity theft is the fasting growing fraud activity in the United States. You can easily spend hundreds of hours trying to rectify the situation if your information gets stolen. Instead, make sure your provider has restoration services so the burden is on them to sort through everything, not you.
Life
If anyone depends on your income, then you need life insurance. There are many different policies, but the best value is term life. Term has the lowest premiums with the most coverage. There is no savings or investing involved, and there shouldn't be. You are transferring the risk of losing your income, not trying to grow an investment.
There may be some other coverage you require but these are the minimums. Again, make sure you are employing a trustworthy insurance agent that is willing to explain why you need what you need. Do not pay for anything that you do not understand or agree with.
For an insurance agent they know they can trust, Mobile, AL residents go to Thames Batre Insurance. Learn more at http://www.thamesbatre.com/.
Article Source:
http://EzineArticles.com/?expert=Andrew_Stratton
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