How to Reduce Small Business Insurance

How to Reduce Small Business Insurance

Editor's Desk: This is a guest post by Ryan Sandberg

New small businesses need to closely compare the business insurance quotes pertaining to all the segments of insurance, from general liability to worker’s compensation and employment practices insurance. But it is safe to say that sticking to one insurance company for all your business needs would save much needed time, money, resources, and hassles. And what new business wants to deal with the hassles of running their business when they're living on hot dogs and macaroni and cheese instead of those five dollar lattes? While the business insurance premium works to protect any business from specific operational losses depending on coverage type, some insurance companies do not offer every type of business insurance.

When choosing to stick with one company, it is imperative that each small business select the types of business coverage they need most immediately. Even in withstanding the smallest budgets, small businesses should find the company that can take care of their immediate insurance needs at a competitive price. To say price comes last in the puzzle might sound a little scary at first, but if you stay away from key business insurance shopping don’ts and then follow five musts’, shopping for small business insurance becomes a walk in the park. You might just have money for the five dollar latte just done the other block.

The first main don’t for small businesses is to think that only large businesses can afford insurance and that really only the largest corporations really need business insurance. Every single business needs business insurance to protect their assets, resources, employees, and profits. The second biggest mistake is trying to reduce your premium by providing confusing, conflicting, misleading, or incorrect information to your insurance company. Unfortunately, it only takes one claim for an insurance company to find out even the smallest of businesses withheld important information only to reduce their rates and save a few bucks. Thirdly, never let your company’s insurance policy lapse because of non-payment of premiums. Always maintain a good working relationship with your insurance company and see how they can help you if a rough financial strife.

Even though they probably have heard that old economy excuse just a few too many times, they might just be willing to break a few rules to make your business happy. Although worker’s compensation insurance is a necessary type to purchase, consider implementing mini-employee training sessions on workplace safety and sexual harassment. Finally, depending on the location of your business, evaluate whether flood, earthquake, or tornado insurance should be purchased as well.

Some of the top things you need to consider when accumulating various business insurance quotes are what other things you can do for your business besides having good insurance:

1. Strive to maintain the safest working environment for your employees through making the workplace assessable to all, having comfortable chairs, and proper working space.

2. Like stated earlier, find an agent from a company that can take care of all your business insurance needs at one time.

3. As your business continues to grow, change your business insurance to match the size of your business.

4. Have your agent visit your business. This way the agent can get an idea of how your business functions and provide you with the best suggestions.

5. Consider providing your employees with health care insurance if at all possible.

If you’re half as smart as you think, check out this business insurance quiz to see if you’re ready to choose the right insurance for your business. Once you’re quizzed out, feel free to get quoted out on business insurance quotes for small business and then go ahead and contact that one agent to satisfy all your business needs.

How to Find Car Insurance to Protect You During Business Trips

How to Find Car Insurance to Protect You During Business Trips

There can be certain situations when it is difficult to establish whether you should be using your own personal car insurance policy or relying on business related cover to ensure you get adequate protection in the event of an incident or accident occurring.

Business Car Insurance explained

A standard car insurance policy that many of us have covers you for driving your car for social, domestic or personal use, so you can use your car to visit friends, go on a shopping trip or take a leisurely drive out for the day. These policies also cover you if you use the car to commute to and from a regular place of work and basically take the same journey on a daily basis and park in the same place every day while you are at work.

Different destinations

If your work takes you to several different offices or work sites on a regular basis or you regularly cover several hundreds of miles per week for business purposes then it is quite likely that you would be considered to be in need of a business car insurance policy in order to insure you are driving fully covered for any eventuality.

Black or white

Most of us know that business car insurance is more expensive than a standard private driver policy but the situation is very often black or white, meaning you often know that you should have business car insurance and if you check the terms and conditions you can quickly establish the criteria and see if you are falling foul of the terms of your policy. It is not worth being tempted to stretch the truth or hope that no one finds out how you are using your vehicle, as the worst case scenario is that your insurance could be invalidated if you are found to have not given factual information about your use of the car.

Company car or commercial car insurance?

There is a difference between business car insurance and commercial car insurance. Motorists who use their car for commercial purposes such as a taxi driver or a delivery driver, will need proper commercial car insurance and a company car should be insured by the company or whoever leases the vehicle to them, but a car that is used for business purposes from time to time is not considered the same as a company car and can be insured with a business element included, which may work out cheaper anyway.

Cutting the cost of insurance

Having established the type of insurance you need to be legal, you then need to try and keep the cost down as much as possible. One good way of doing this is to use some comparison sites and let them do the legwork for you by getting specific quotes based on your actual circumstances and intended use. The more specific information you can give such as mileage you are likely to cover will have an impact on the final price of the premium and also choosing the car they want to insure carefully beforehand will help, as there are over 50 different insurance groups, so driving a car in one of the lower groups will be much cheaper than a model that is considered riskier and therefore more expensive to insure.

Careful drivers

You can shop around and get the best quote, which is far better than just accepting the first quote you get from an insurance broker, but there is no substitute for being considered a careful driver in order to get the price of insurance down. Insurers reward careful drivers so try to protect your good record and always consider whether to make an insurance claim for a small amount, as this will always have an impact on the price when you come to renew.

No one wants to pay more than they have to for car insurance but remember that the cheapest quote is not always the best for your needs, so consider all options before you finally settle on a deal.

Gillian Kearney has extensive experience in auto insurance. Her articles mainly appear on auto and money saving blogs. Visit the Monkey website for more information.

5 Ways to Save on Life Insurance

5 Ways to Save on Life Insurance

Life insurance is a great way to help protect your family’s financial future in the event you suddenly die and leave behind a mountain of bills. While most of us would do anything to help provide for our loved ones, there’s no reason to pay too much for life insurance coverage.

There are a few tricks and tips that can really pay off when you are buying a life insurance policy. Follow these five tips to save money and get more life insurance coverage for less.

1: Look into Payment Options

Many insurers allow policy holders to pay their premiums monthly (12 times a year), quarterly (four times a year), semi-annually (twice a year) or even annually (once a year). Paying premiums annually can save you some money by avoiding processing fees which are associated with paying monthly. Ask your insurance company about how much you can save by paying your premiums annually or twice a year.

2: Ask About Milestone Discounts

Some insurance companies offer price breaks, also called milestone discounts, for policies that carry higher coverage amounts. For example, you might get a price break for buying $250,000 worth of coverage instead of $200,000. You could actually save a couple bucks by asking about higher levels of coverage.

3: Get it While You're Young

It sounds sort of funny, but the reality is that the best time to get a good deal on life insurance is when you are relatively young and in good health. Waiting until later in life when you're a bit older and maybe dealing with some medical issues can really drive up your premiums. Even worse, waiting until you are older could even prevent you from getting life insurance at any price.

4: Only Buy as Much as You Really Need

Many life insurance consumers think they need a million dollars in coverage, but find they don’t need that much to help cover their debts and financial obligations. Doing a careful analysis of your current and future needs and buying enough coverage to provide for those needs is a good way to avoid overpaying for life insurance.

5: Look for Coverage With Renewal Guarantees

A renewal guarantee means you are guaranteed at least the opportunity to renew your term life insurance policy when your current term expires without having to retake the medical exam. While your new premium will be based on your current age and not the age you were when you first bought coverage, you won't have to start the shopping process all over again. Skipping the medical exam is particularly valuable if your health has declined since you first bought coverage. Trying to buy life insurance with poor health could mean that you will pay more for coverage or won't qualify for coverage at any price.

ABOUT AUTHOR:

Samantha is a freelance writer based in Chicago who writes about automotive and insurance topics online. Follow her on Twitter @SassySammyBee.

Fixed Expert Tips to Save Money on Car Insurance

Fixed Expert Tips to Save Money on Car Insurance

Car insurance is very important to every car owner. Your vehicle is one of the most important assets which you must ensure that it is not wasted. Consequently, car insurance is the right option for implementing this purpose. However, you must also know you can save money on car insurance premiums. Here are some of the tips that can help you to save money on car insurance.

The Cost of Car Insurance

You must consider the cost of car insurance before buying. When buying a used or a new car, most people neglect insurance expenses that guarantee total cost of possessing a vehicle. Since car insurance premiums vary depending on specific features of the vehicle, it is very essential to consider insurance costs. Some of the most characteristics that vary include average repair costs, price, and safety record among others.

Lowering Your Coverage

Insurance Information Institute suggests dropping comprehensive insurance on older vehicles so as to save money. III rule states that in case your vehicle is worth less than ten times the premium value, it might make sense to reduce that coverage. The most important thing to keep in mind is that vehicle insurance must be customized in order to meet your needs. Talking with insurance agents can ensure that you take advantages of every discount. This ensures that your car is covered adequately.

Working With a Single Insurance Company

After shopping around for car insurance rates, you should choose one insurance company to cater for your insurance needs. Most insurance companies offer discounts for combining homeowners and car or renters insurance with a single provider.

Reduce Your Cost by Reducing the Number of Risks

Every car insurance application is different. Every insurer's price is dependent on two things. They include evaluation of your risk and the pricing form that dictates what kind of customers the insurer needs to attract. Therefore, by reducing insurer's awareness of your risk, the price which you are subjected to is reduced. Although there are certain risks which you cannot control, below are some of the things that can be controlled.

Parking and driving carefully.
Reducing your mileage.
Avoid unnecessary changes on your vehicle.
Fitting security devices in your car.

Requesting a High Deductible

One of the simplest ways of saving money on car insurance is increasing your ductile. Any time you are involved in an accident, make sure you have money to pay the deductible.

Compare Rates for Different Cars

After identifying various cars that you can afford, call a new insurance company or your recent insurance to compare vehicles' premiums. Car insurance costs vary due to repair costs, safety records, likelihood of theft and price of the vehicle.

Claiming All Your Discounts

If your vehicle has safety or antitheft features like anti-lock brakes, various insurance companies offer discount on your premiums. You can also qualify for a discount if you have taken protective driving classes.

However, there are some cases where drivers are diagnosed due to various reasons. Before driving, you must contact Drivers and Vehicle Licensing Agency. Dvla contact can provide all necessary information required.

Brokers, Bundling and Budgets: Simple Steps for Super Savings on Car Insurance

Brokers, Bundling and Budgets: Simple Steps for Super Savings on Car Insurance

You want to save money on your insurance, but it's often easier said than done. You approach your insurance agent, tell her that you want to pay the lowest premium possible, and she just smiles and nods. While not all agents are out to maximize their commissions at your expense, some agents just don't know how to save you money. Why? Because they work for one insurer and can only offer one product line. What you need is the flexibility to get what you need at a price you can afford.

Comparison Shop

There's no substitute for shopping around. This simple act can save you thousands of dollars over life of your policy. Thankfully, comparison shopping is pretty simple to do on your own thanks to online quote engines. These software programs will locate quotes from companies authorized to do business in your area and itemize the quotes in an easy-to-read format.

From there, it's a simple matter of signing up with the insurer that you like. Most quote engines can show you up to 20 different company quotes.

Bundle Other Insurance Products Together

Most insurers will offer you a premium discount if you bundle two or more policies together. Why? Because part of the way insurers make money is through something called "premium float." The "float" is money that is collected from policyholders but is not yet needed to pay claims.

This money is invested until it's needed. The profits made from the investment go toward paying future claims or straight to the company's bottom line. By bundling policies, you're providing the insurer with additional investment funds - something they will gladly reward you for.

Get A Broker

Brokers can do research that is difficult or impossible for you to do on your own. If you've had problems in the past with speeding tickets, or anything else license-related, a broker will be able to search for companies willing to deal in adverse risk - policyholders that represent higher-than-average risk to the insurer.

By doing a sort of "prequalification," a broker can make sure you get fair treatment by an insurer, find premiums that are affordable with coverage you need to drive on the public roads. In the end, it doesn't really matter whether you go through experts like BrokerLink or contact someone directly. What matters is that you have an advocate to shop around for you.

Ask About Special Discounts

Insurers almost always offer discounts - even if they don't advertise it. VIN etching in automotive glass, being an alumni of a local college or university, having good grades as a student driver, being a member of a fraternal or social organization, and having taken a defensive driving class are all easy discount wins.

If your vehicle comes equipped with an active alarm system, you'll get a discount but auto insurers will also offer you discounted premiums if you install an aftermarket unit. So, don't get discouraged if you drive an older vehicle without an alarm.

Ask About Deductibles

Deductibles can make a huge difference in your premium. In general, low premiums are associated with high deductibles. Conversely, high premiums are associated with low deductibles. Want to save money instantly? Raise your deductible. Just be sure to save some money so you can meet your deductible when you need to file a claim.

AUTHOR BIO:

John Wilber is a retired insurance broker and grandfather of five. When he's not visiting with his grand kids, he likes to write about what he learned in the insurance business at BrokerLink in order to help others.

Discount Car Insurance for Seniors

Discount Car Insurance for Seniors

The problem that many seniors have with car insurance is the fact that they are on a fixed budget, which makes it tough to continuously pay inflated car insurance rates. Seniors are one of the age groups that are hit with higher rates, as insurance companies see them as more likely to get into accidents or end up with traffic tickets for things like missing stop signs and not signaling properly.

Thankfully there are several ways in which seniors can get discounts on their car insurance. Some of the discounts are easy to obtain, while others involve a little work. On top of this, there are few things that seniors can do to ensure that they are receiving the possible car insurance rates.

Shop Around for an Insurer

Shopping around to receive the best possible price on car insurance is very important for everyone, especially seniors. Some insurance companies let you pick your price range and then fit your insurance policy to that amount, while others will offer you several rates to choose from. There is no harm in checking with other companies, so make a list of the ones that you want to try and call them up. You can even ask a computer-handy child or grandchild to check online for you to see if you can save money by going paperless.

Ask About Insurance Discounts for Seniors

Some car insurance companies offer discounts only for seniors. There are a number of groups for those older than 55, like the AARP, that have special insurance programs for their members. You can also ask your insurance company if they have any of these specials, and then see if you qualify. There might also be discounts if you bundle all of your insurance policies together under the same company. Every penny counts so don’t be afraid to ask!

Consider Going Down to One Vehicle

One of the best ways to save money on your car insurance is by going down to one vehicle. Even if you keep your second car, by calling your insurance company and having it put on liability only or non-driving status, you will get a discount. Of course, if you drive this car and end up in an accident, you’ll have to pay to have it repaired. This is why it is usually cheaper to sell your extra vehicle and only have one.

Take a Driving Course

One of the best ways for seniors to save money on their car insurance is by taking a driving course. As people age, their reflexes begin to slow down. This is why insurance companies charge them more: slower reflexes could potentially mean more accidents. Taking (and passing) a driving course signals to the insurance company that senior drivers are still diligent on the road, netting them a discount on their car insurance premiums.

Of the many things that seniors can do to receive discounted car insurance, shopping around and asking for discounts are two of the most important. Taking a driving course might be pricey, but the discounts received on insurance premiums can make up for that expense. Lastly, going down to one vehicle, if at all possible, can help seniors save a lot of money on their car insurance. In fact, this last one can cut their premiums in half, since they will have half as many vehicles.

ABOUT AUTHOR

This car insurance article was written by insurance expert Terry Wood. Terry is a writer with a website that helps users save money on quotes.

Insurance: A Guide

Insurance: A Guide

"Remember kids, I have life insurance" - Adam Savage

This is a guest article from Tatyana Levin

These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).

The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.

A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.

Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.

These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.

The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.

About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com

4 Insurance Myths That Are Not to Be Trusted When Planning Your Finances

How Smartly to Save Auto Insurance

How Smartly to Save Auto Insurance

If buying a automobile itself was not stressful enough settling on a yearly extravaganza of its insurance is definitely one. We know auto insurance is a necessity but it necessarily does not mean lump sum fixed cost that is emptying your pockets as well as pushing up your stress levels. You need to study the market and choose the correct insurance that saves your money and keeps your driving experience pleasant.

1.Pick a Suitable Car

While buying a car along with considering style, comfort, fuel features also do consider its insurance costs. For better details call up the car salesperson and find out about the insurance costs for the selected car. Popularly. cars in the mid-sized category like the sedan, mini-van, mini-SUV cars come with a better deal as they provide more safety and less prone to accidents. Furthermore, cars that belong to the higher end usually mean higher premium too as they are more prone to theft, more expensive, more speed and more accidents. So while buying the car if you are more conscious of the premium you will have to pay for it then you might end up choosing the model that will help you save on insurance costs.

2. Maintain a Healthy Credit Report

Paying all your bills timely reflects more than just your personal traits it appeals positively to the insurance companies for you. Auto insurance companies usually offer a better deal to people with a better credit score. For instance, the length of your credit history, paying your bills on-time, not carrying high balances on your credit cards etc reflect your personal responsibility and whether you are worth taking a risk on. Moreover, it has been noticed that if you have a high credit score, an excellent driving history, and zero claims on your record, you will qualify for low rates easily.

3. Increase Deductible

Deductible means the money you pay on an insurance claim before the company starts paying you. Higher deductible lowers your insurance premium because the insurance company’s costs are reduced by the amount of these deductibles. Actually, having a high deductible on your insurance implies you will claim less, which means you are a lower risk to the insurance company, and can therefore be charged lower rates. However, this also means that you need to keep that cost for the deductibles in case of an accident or breakdown, with yourself untouched safely tucked away in some bank account so that you can reach out for it immediately when in need.

4. Sound Driving Record

Your driving record obviously affects your premium all through Accidents and tickets add points to your driver’s license and raise your rates. Many critics have analysed that getting caught for not wearing a seat belt, speeding up to 14 mph over, tailgating, reckless driving will not be approved by the insurance companies and will raise your insurance costs as high as 10-15%.

5. See Around for the Best Deal

One of the biggest financial mistakes most people often do is not to check for more than three insurance quotes before finalizing on the one. Studying around the market before finalizing is necessary. Moreover, after the first few years you can always look outward for better deals. One of the most common misconceptions is that renewing your car insurance policy with the same provider will be the cheapest option but, while this might have been the case up to a certain point, let’s not forget that things are constantly changing. One of the very few positive aspects of the current times is that it requires businesses to be very competitive in order to remain in the game; as a result, many car insurance providers offer attractive discounts for new customers, making it quite profitable to sign up with them instead of renewing insurance with the current provider. You can use the Internet to compare and study available offers and pick the best one.

6. Look for Possible Discounts

There are various other factors, relating to gender, age, smoker or non smoker, profession etc that can get you a better mileage to find a cheaper rate. For instance, if you are holding a driver's license for a long period of time you might bargain a better insurance deal. Again, adding safety features like air bags, anti-theft systems or anti-lock brakes to your car helps you gain lower rates from insurance companies. Another factor that is often overlooked is mileage. The more you drive, the higher the risks of an accident, so if you only use your car occasionally you may be eligible for another discount. You can opt for car-pooling or public transport also. Also older cars attract lower insurance rates hence opting for a second hand car also might prove beneficial to save an extra dollar.

Whatever insurance you are opting for be careful to read the papers well, to understand what you are paying for. Before finalizing, consult the agent and your finance consultant’s fro best possible results.

Brianne is a writer/blogger. She loves writing, traveling and reading books. She contributes on Hydroxycut

Do You Really Need Dental Insurance?

Do You Really Need Dental Insurance?

From Editor: This is a guest article contributed by Richard Keane

The monthly budget of many individuals and families is already overcrowded with bills and things to pay for. The thrust of many people is how to prune down their budget and reduce the number of things that they have to pay for. People are thus going through their expenses to find services and products that they could do without. Against this backdrop, one question that many ask is, do I really need dental insurance?

At first glance, you may be tempted to answer a quick no, the reason being seemingly quite simple. Why put up with paying monthly premiums for dental cover, when you take such good care of your teeth and have no cavities or toothache? Well, each person will have to answer that question in light with their own circumstances. At present, about 30% of Americans do not have any form of dental insurance cover. That translates to about 100 million Americans that do not have dental cover. You may be quick to ask yourself, if they can stay without dental insurance, why can’t I do the same too?

The right answer for you

To properly determine the right answer for you, you need to first consider the reasons why people take or need insurance. Insurance policies are not necessarily taken because of present danger or crises, are they? We seek insurance coverage because of possible negative eventualities that may occur. A person who takes a theft and burglary home insurance cover will not stop taking steps to prevent his home from theft and fire. The cover is taken to provide cover and compensation if and when a burglary or theft does occur.

But I take good care of my teeth

Taking good care of your teeth is not always good enough reason to drop dental insurance. Based on the statistics of people without dental insurance coverage mentioned above, we can conclude that there are about 100 million Americans who will have to pay from their own pocket to cover the costs of any dental treatments that may arise. Or, they will have to suffer in silence and go without dental treatment if they cannot afford it. Is the option of going without dental insurance still looking attractive?

An expensive market

Dental treatments are very expensive and you will need to consider if you will be able to bear these costs yourself without dental insurance. For example, as a dentistry guide, crowns go for between $500 and $3,000 per tooth. Even when you have the best of oral hygiene habits, gum disease issues or accidents such as a fall could occur that will require expensive dental treatments. Without adequate cover, you will have to pay for it yourself or do without it.

What are the advantages of dental insurance?

Dental insurance, without a doubt offers a number of advantages. It can cover the costs of routine visits and checkups and costs of emergency dental treatments. Depending on the type of insurance plan, you can even earn interest on the policy and receive a cash payout from the insurer. The major factor that makes many people hesitate or consider doing without dental insurance is the costs associated with paying monthly premiums. When you consider the rising costs of living generally, plus the costs of several insurance policies that you need, it may all seem overwhelming. With proper budgeting and management, many people seem to succeed.

In conclusion, the answer to the question, do you need dental insurance, is best answered by you. You have to determine the amount of dental related risks that you are willing to expose yourself and your family to.

About Author: Richard is a freelance writer who enjoys producing content related to health, dentistry and finance. If you get the chance please pay him a visit on Twitter at @thefreshhealth


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Top 3 Myths About Life Insurance Debunked

Top 3 Myths About Life Insurance Debunked

The world is an unpredictable place, and there is often no way of knowing what is waiting around the corner. Many of us don’t consider life insurance to be something that applies to us, and see it as something reserved for the wealthy. This is a risky way of thinking, as life insurance is designed to protect those without financial stability, and will provide support for your loved ones when they need it the most. This article examines the top 3 myths about life insurance, and explains why these can lead to problems for your loved ones after your death.

Spouses Who Don’t Earn a Salary Don’t Need Insurance

If the main breadwinner in a family passes away prematurely, it can leave the surviving family members in financial difficulty. Taking out an effective life insurance policy will ensure your family are provided for in the event of your death. It is also important to consider what would happen if your spouse passed away.

If your spouse is a homemaker and looks after your children whilst you are working, you will need to consider the implications of not taking out life insurance.

You could be left with the options of having to leave work to look after your children, or paying for expensive child care. Without life insurance, this could leave you in extreme financial difficulty. Taking care of children is not the only task a homemaker performs. They also cook, clean, and keep the household running smoothly, and all of these potential expenses would need to be considered.

Insurance Is Only For Those with Children

Even if you do not have children yet, you may want them in the future, and taking out life insurance ensures financial security for your future family. If you are a couple, you will need to consider what would happen if one of you died. Could the other cope with the financial burden of your combined debt? If you are single and uninsured, your estate (insurance, investments, property) will pay off any debts you have.

If your debts are more than your total worth, your family will be expected to pay these after you’re gone. Life insurance forms part of your total financial worth, and can be used to pay off debts in the event of your death. If you are diagnosed with a terminal illness and are unable to work, some life insurance policies will pay out early. This would offer peace of mind in the event that you become critically ill.

It’s Too Expensive

Any amount of life insurance is better than none at all. As life expectancy is increasing, the price of life insurance is falling. There are many reasonably priced policies aimed at people who cannot afford to put a large amount of money aside each month. Life insurance premiums will increase dramatically if you wait for your health to deteriorate before you take out a policy. If you start putting money into a policy from a reasonably young age, you will quickly build up a sizable amount.

Some policies start from as little as $5 a month, and if you were to pay this tiny premium for 45 years, you could end up with cover well over $50,000. Not only would this ensure that you could stop working if necessary, but you would also know that your family could cope financially after your death.

These are the most prevalent misconceptions about life insurance. Unfortunately there are more, and many people leave their families open to stress and financial hardship by not providing some form of protection. Life insurance should never be left until health complications arise. If you have questions that need answering, consult with a financial adviser or life insurance provider who would be happy to help you, and give yourself the peace of mind that an effective life insurance policy can bring.

Jeff Noble is a personal finance consultant. He enjoys passing on his insights online through blogging. Get more details on other common myths, visit the link.

Travel Insurance – Have Carefree Holidays with Family

Travel Insurance – Have Carefree Holidays with Family

If you are planning an exciting holiday with your family, then it is pivotal that you must devote some attention to their safety and security. It cannot be denied that the misfortune does not struck the people after giving the proper warning and so it is imperative to purchase a family travel insurance plan. It helps in managing various kinds of the unexpected events in a hassle-free manner such as sickness, emergency evacuation, lost baggage, delayed flight, etc that can result in cancellation of the trip.

You will never want that your beloved family members endure the some bottlenecks during the vacations. An excellent insurance plan ensures that your family stays protected and enjoy their holidays devoid of any stress or worries. You must pay heed to select an appropriate travel insurance plan so that you can relish the joy of togetherness.

What a Family Travel Insurance Plan Covers?

When purchasing a family travel insurance plan, you must guarantee that it provides the best protection to your near and dear ones. No one really wants to be the victim of the unfortunate events. However, if in case anything worse should happen, then you have to go through a lot of problems. It is always beneficial to have a good knowledge about the various benefits that your insurance plan covers to enjoy a fun-filled holiday. Some of the essential things that are covered are as follows:

• Delay in travel
• Loss of baggage
• Medical expenses
• Legal expenses
• Personal accident
• Sickness
• Accident
• Delayed/cancelled flights

How to Select a Policy According to Requirements?

There are different kinds of family travel insurance plans to choose from and it is critical that you must select the best one that exactly suits the requirements. You can get a policy that you can have every time you plan for a vacation with your family. The premium for this plan is required to be paid on the yearly basis. Some of the companies provide the plan for an annual term. This particular kind of a plan is suitable for those families that do not go on the vacations quite often.

It is important that your family travel insurance provider must have a round the clock emergency number. The main benefit of having the number is that if you finding it quite a difficult task to understand the language of a particular country, then you will get all the possible help from the insurance company.

Therefore, do not risk wasting the opportunity to enjoy the priceless time with your family and cherishing the unforgettable moments with your beloved family just because you thought travel insurance is a worthless expense.

6 Reasons Why People Get Turned Down for Life Insurance

6 Reasons Why People Get Turned Down for Life Insurance

Life insurance is a necessity today, and responsible adults will strongly consider getting some form of insurance in order to cover final expenses and to provide for their families after they’re gone. As important as it is, life insurance can also be difficult to obtain for some. Health concerns, age, and other risk factors can make a policy difficult to find. If you’ve been denied a life insurance policy, you may have been given a reason why, but if not then consider the 6 most common reasons someone might be denied coverage.

1. Smoking

Life insurance for smokers can be very difficult to come by simply because of the damage to your health caused by smoking, and the fact that many smokers suffer earlier deaths than nonsmokers in the same age bracket. It is possible to obtain a policy if you do smoke but you may need to shop around to find such a policy, and in the meantime, you may consider this as just one more encouragement to quit the habit!

2. Diabetes

As with smokers, life insurance for diabetics can be difficult to find because of the seriousness of the disease. Diabetes can lead to heart problems, infections, and slow healing especially after surgery or serious wounds. There are companies that offer these policies but again, you may need to search a little harder to find what you need. You might also need to provide proof that the diabetes is being managed and is under control to qualify for a policy.

3. Hypertension

High blood pressure, especially if not treated properly, can lead to stroke and other serious and fatal conditions. You may find it easier to get a policy if your hypertension is currently controlled, but this may still put you in a high risk category. You might also have certain requirements such as ore regular checkups for your policy to remain in force, to ensure that you are always being treated for your condition.

4. Obesity

Being obese is not just a matter of aesthetics; this condition is linked to hypertension, heart disease, asthma, increased risk of heart attacks, certain cancers, and sleep apnea, any and all of which can be fatal. A person who is obese may need to search for high risk life insurance. They may also need to show that they are under a doctor’s care for any of the health concerns they may have because of their obesity.

5. Age

Those over 50 usually have a harder time finding life insurance than others because they do not have as much time to pay on that insurance policy as someone who is much younger. Their longevity is more limited so a carrier may reject them on that basis alone. Those over 50 are also typically more prone to serious health concerns and risks, which is also why it’s often difficult for them to find a policy, even if they’re in good health.

6. A combination of factors

While some companies may insure those who are over 50 or those who have hypertension, if you have a combination of these factors then it may be very difficult to find a policy. Those who have more than one risk factor when it comes to life insurance may struggle to find an adequate policy at a price they can afford.

None of these factors should put anyone off to shopping around for a policy that’s right for them. There are many companies who offer no medical exam life insurance and who will work with you to craft a policy that is right for your situation and for your budget. If you’ve been turned down for coverage from the same company that provides your auto or homeowner’s policy, you may simply need to choose a company that specializes in life insurance to get the coverage you want and need. There are plenty of options from which to choose no matter your situation, so don’t delay in getting quotes. This will mean the protection you need for your family at a price you can afford.

AUTHOR BIO:

My name is Lance Peterson; I am a graduate in Finance from UPenn. I am a banker, whose expertise stretches to areas like loans, investments, hedge funds, insurance and other related fields. I am also the Content Manager for Lifeinsuranceblog.net

Protect Yourself From Becoming a Victim of Car Insurance Fraud

Protect Yourself From Becoming a Victim of Car Insurance Fraud

This article aims to inform consumers about the incidence of auto insurance fraud, help them to recognize if they are potential targets of it, how to protect themselves, and what they should do if they suspect that they are victims of insurance fraud.

We’ve all heard stories about people who commit insurance fraud and get caught—thanks to whom our collective insurance rates have raised over the years. But less publicized and equally real are all the cases of innocent, oblivious consumers who get roped into insurance fraud as well. People will go to terrible lengths to make some quick money, and this is how elaborate schemes that include doctors, fake insurance agencies, body shops and seemingly well-meaning passers- by are born. Today, we’re here to alert you to this growing phenomenon that is a cause for grave concern so that you can recognize this kind of fraud and protect yourself from it.

- Unsolicited offers

Firstly, please be wary of door to door car insurance salesmen or any other unsolicited offers for auto insurance. Any auto insurance company worth its salt would not have to resort to such desperate measures. Most likely, these are scam artists who will take your monthly premiums, bleed you dry and then disappear off the face of the earth for all practical purposes.

- Dirt cheap premiums

Usually when something seems too good to be true, it usually is. So if you are offered a ridiculously low quote by one of the aforementioned unsolicited insurance salesmen or even on the Internet, please refrain from jumping with joy and signing on the dotted line. Even if they aren’t scam artists, remember that an obscure provider is unlikely to have the means or inclination to provide you the service you need. When choosing an insurance provider, look for an affordable auto insurance quote offered by a reputable reliable company.

- Check on the provider

If you have any doubts whatsoever about the legitimacy of an insurance provider, you can contact your State Insurance Department and check if they are listed and licensed. You can also check an insurance company’s ratings at the Better Business Bureau, and report a less than satisfactory provider on the same website.

- Staged incidents

If a car stalls, draws dangerously close, or stops abruptly in front of you, be aware that there’s a good chance you’re being roped into an insurance scam. Pull over the first chance you get, wait for it to drive past you and call the police to report suspicious behavior. Remember, that if a staged accident is successful and you are found at fault, you will be required to pay for the other party’s damages. Even if you have insurance, you’ll have to pay the deductible and there’s a chance of your auto insurance rates rising. In case you crash into a car before you have the chance to do so, call the police immediately, report exactly what they did, take down their insurance information and convey your suspicions to both your and the other party’s provider.

- People who try and steer you to specific doctors, body shops, or lawyers at the accident site

Accidents frequently lead to injuries, property damage and law-suits. However, don’t panic in the moments after. Just call 911, take photographs of the accident site and both cars, call your insurance company and don’t get carried away by overly specific suggestions and overly-helpful witnesses, especially if they try and push you in the direction of a specific doctor, lawyer or body shop. This is a clear indication of some sort of fraud. The paramedics and ambulance will take care of your medical needs, the police will file the reports and lawyers and body shops can be contacted later. Reject any offers made to fix your car for a few quick bucks and be careful about individuals who suddenly show up at the scene of the accident and steer you towards any sort of business enterprise.

- Doctors who insist upon you filing Personal Injury claims,

If your doctor is insistent upon you filing a Personal Injury Claim, especially if you are unhurt, question his motives. His preoccupation should be with your health and well-being not with details such as this one. If he volunteers this information and is pushy about it, something is definitely amiss.

- Don’t lose your insurance identification code

Protect your insurance identification code as closely as you would your passport or social security number as it can be misused in a number of ways for insurance fraud.

In case you suspect any form of auto insurance fraud, potential or otherwise, immediately report it to the National Insurance Crime Bureau at (800) TEL-NICB (835-6422) and/or inform your State Fraud Bureau.

About the Author: Harris lives with his wife and two kids and does photography for a living. He loves to read and surf the internet looking for new money saving tips, recipes, etc. In his spare time he writes on personal finance home, life and car insurance companies, budgeting, and other investment options] and grows organic vegetables in his small vegetable garden.


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