All About Home Insurance Leads

After loads of man-made and natural calamities in USA the Home Insurance market has come much into prominence. And at present the competition is at its peak.

Homeowners Insurance is a guarantee, which pays the cost of your house if it gets damaged in some natural or man made disasters like fire, floods, storms etc.

To get a good home insurance quote we often turn to agents. The agents in turn look for home insurance leads. The home insurance leads ultimately get converted into business. To achieve the desired target the home insurance agents should use significant tools. In the era of Internet, home insurance agent must know facilities like emails, billboards, Yellow Pages ads and pop up ads. These tools are fruitful to get an effective lead if used properly.

As Internet is the convenient and fastest mode of communication, you can fill your form on homeowners insurance lead provider’s website according to your own specifications. This will help you finding a prospective customer for you. When home insurance leads service providers receive the form from the agents, they promptly send a reply to the agents with all the information submitted by the insurance lead. Then the insurance agent contacts the lead through the email or phone and offer them online homeowners insurance quote.

To obtain specific leads from any lead provider company, the insurance agent should give them appropriate information and their coverage area.

Here are some special offers provided by home insurance lead provider companies:

- They offer some free leads so that you can know their work quality.

- Lead provider companies are ready to offer their service on very competitive price.

- Advanced filtering options.

- Some lead provider firms will contact you by fax or telephone when you are offline.

- There is no need of any monthly fees or long-term contact. So if you don’t find there service beneficial to you, you can choose another company.

Your Auto Insurance Company For Extra Money?

Most people, once they have an auto insurance company, simply just let their current policy renew and renew without checking to see if maybe they can get a better deal somewhere else.  If that describes you, maybe you would look into exploring your options if you knew how and painless it really is. This article will show you just how easy the process is.

Shopping for a new auto insurance company
The easiest and quickest and as a result the most painless way to shop for auto insurance is to go on the internet. Many companies can give you quotes 24/7 on their websites. You can also get contact information for a particular auto insurance company on their site and call them up on the telephone.  When considering switching companies, the first thing to do is to get comparison rate quotes from several
companies. 

You do want to be very truthful about all your information  so that you can get accurate quotes.  The company will find  out about any accidents, claims or traffic tickets anyway, so don't try to hide anything.  Also, when you get comparison rate quotes, make sure you compare the coverage  you have with your current auto insurance company to what is  available with any new company so that you can make a  comparison that makes sense.

How to switch
Once you have found a new auto insurance company and purchased your new policy you must cancel your old policy. If you don't cancel your old policy the old auto insurance company could assume you wished to continue your insurance with them.  They would be expecting to receive premiums from you.  When they don't receive those premiums they would eventually cancel your policy due to unpaid premiums and report your lack of coverage to the Department of Motor Vehicles of your state.  This could affect your credit and your ability to get a new auto insurance policy.

Canceling your old policy is easy.
Usually, all you need to do is to inform your old auto insurance company in writing, telling them when you would like the policy cancelled.  They will then send you a form to sign and return, which in effect will cancel your policy.

One thing to note
Do not cancel your policy from your old auto insurance company until the insurance is actually in effect with the new insurer.  This way you avoid any lapse in coverage. However, nowadays there is little chance of that happening. Most states require all drivers to carry a minimum amount of
insurance and your old auto insurance company will probably require you to show proof of insurance before they will cancel an active policy.

When you switch is very important
The best time to switch to a new auto insurance company is when the current policy is about to expire.  When you receive your policy renewal notice from your current auto insurance company is the best time to switch.  This is usually about a month before the current policy is actually going to expire.  It is during this period when you can switch insurers without incurring any fees or penalties.

Also, because it is so close to the end of the policy term you would avoid trying to figure out the amount of unused premium that you are due from your old auto insurance company.  You also avoid arguing with your insurance agent about exactly when you cancelled and how much the auto
insurance company owes you.

But yes, you can cancel outside of the 30 day period
If after taking into account the fee or penalty you may have to pay you may find that you still would get appreciable savings. So, while it is best you switch within that 30 day renewal period, you can actually cancel at any time.

Are you ready?
That's all there is to it. Just think of all that extra money that could be coming your way if you follow these simple guidelines.

Affordable Family Health Insurance Quote - Things To Know

Whether you are seeking health insurance through your employer or on your own you will be offered a variety of plans. In order to make the proper decision about which plan is right for you it is important to know the basic characteristics of the most popular types of health insurance. After this it is wise to get many quotes on health insurance and compare them. This is a free way to compare plans and prices.

Fee for service

For many years the fee for service plan was very popular and widely used type of health insurance. The insured pays a monthly fee. A deductible is applied to the cost of the services. Some services related to healthy living or emergency services may be exempted from the deductible. Once the deductible has been met the insured and the insurance company share the cost of services. For most companies the split may be 80/20 or 70/30. The company pays eighty or seventy percent, the insured pays twenty or thirty percent. There will be a cap on the total amount of money the insurance company will pay in a lifetime.

Health Maintenance Organization (HMO)

HMOs have become increasingly more common in the last decade. Again, the insured pays a premium which makes him/her a member of the HMO. As a member of the group the member is entitled to visit any of the doctors who are part of the group. These doctors may all work together in an HMO facility or may work in individual clinics as part of a group of doctors under contract to the HMO. Members may have to pay what is called co-pay when they visit the doctor. No paperwork is necessary to validate the claims of an HMO member; however, members may wait longer for non-emergency appointments than they would with a fee for service insurance program. An HMO generally requires its members to have a primary care physician who then refers the member to a specialist if needed.

Preferred Provide Organizations (PPO)

The PPO, a blend of the fee for service model and the HMO model, is a fast growing sector of health insurance. As with an HMO there is a network of doctors from which the insured chooses his/her physician. This physician is responsible for designating the need for specialized care. A co-payment will be required when an office or hospital visit is made. There will also be a deductible and medical expenses will be divided at an agreed upon scale between the insured and the insurance company operating the PPO. A person may choose to use a doctor who is outside of the network. Expenses incurred for medical care outside the network will make the patient’s share higher.

Please collect as many quotes as possible in order to compare services and rates. This is a free way to learn a lot about all of your options.

Advantages of a Whole Life Insurance Policy

To begin with, you need to understand that life insurance falls into two very broad categories: Whole and term.  The basic difference between term and whole life insurance is this: A term policy is life coverage only.
In whole life insurance policy, as long as one continues to pay the premiums, the policy does not expire for a lifetime.  As the term applies, whole life insurance provides coverage for the whole life or until the person reaches the age of 100.  Whole life insurance policies build up a cash value (usually beginning after the first year).  With whole life, you pay a fixed premium for life instead of the increasing premiums found on renewable term life insurance policies.  In addition, whole life insurance has a cash value feature that is guaranteed.  In term and whole-life, the full premium must be paid to keep the insurance.

With level premiums and the accumulation of cash values, whole life insurance is a good choice for long-range goals.  Besides permanent lifetime insurance protection, Whole Life Insurance features a savings element that allows you to build cash value on a tax-deferred basis.  The policyholder can cancel or surrender the whole life insurance policy at any time and receive the cash value.  Some whole life insurance policies may generate cash values greater than the guaranteed amount, depending on interest crediting rates and how the market performs.  The cash values of whole life insurance policies may be affected by a life insurance company's future performance.  Unlike whole life insurance policies, which have guaranteed cash values, the cash values of variable life insurance policies are not guaranteed.  You have the right to borrow against the cash value of your whole life insurance policy on a loan basis.  Supporters of whole life insurance say the cash value of a life insurance policy should compete well with other fixed income investments.

Unlike term life policies, whole life insurance provides a minimum guaranteed benefit at a premium that never changes.  One of the most valuable benefits of a participating whole life insurance policy is the opportunity to earn dividends.  The insurance company based on the overall return on its investments sets earnings on a whole life policy.  In addition, while the interest paid on universal life insurance is often adjusted monthly, interest on a whole life policy is adjusted annually.  Like many insurance products, whole life insurance has many policy options.

Make sure you can budget for whole life insurance for the long term and do not buy whole life insurance unless you can afford it.  You should buy all the coverage you need now while you are younger, and if you cannot afford whole life insurance, at least get Term.  That is why whole life insurance policies have the highest premiums it is insurance for your whole life, no matter when you pass on.  The level premium and fixed death benefit make whole life insurance very attractive to some.  Unlike some other types of permanent insurance, with whole life insurance, you may not decrease your premium payments.

Accident Insurance Claim Personal Injury Insights

Besides botching up your body (and sometimes your love life) what else does the injury mean to you? It means a ton of financial expense’s, including repairing your motor vehicle, lost wages, a shock to your life style, a tremendous inconvenience and short or long periods of pain and discomfort - - all of it a direct result of your injuries.

Plus, there's a long list of possible medical expenses. For example: Doctor/Chiropractor, Prescription Drug Bills, Ambulance, Emergency Room Care, Hospital or Clinic, Specialist and/or Dentist, Laboratory Fees and Services, Diagnostic Tests, X-Rays and (CT) Scan, Prosthetic Appliances or Surgical Apparatus (Canes & Crutches), Physical Therapy, Registered and/or Practical Nurse Fees, Gauze and Tape, Ace Bandages all of which the insurance company must pay whether they like it or not!

Also, Creams, Lotions, Ointments, Balms and Salves, etc. (Should the lady in your life apply any of these to your aching body I'm sorry to tell you this but her labor is not an expense you can claim).

YOU MUST BE COMPENSATED BY THE INSURANCE COMPANY FOR ALL OF THE ABOVE: It's true that a very small percentage of motor vehicle accidents cause big, serious injuries but that doesn't mean you shouldn't be paid big, serious bucks!

EXAMINATION BY THE INSURANCE COMPANY DOCTOR: Claims Adjuster Henry Hard-Nose of Rock Solid Insurance will usually try to pull a fast one insisting he wants you to be examined by the physician of his choice, the local medical con-man of all time, Dr. Nuttin' Wrong. Beware of such a request. Doctors assigned by the insurance company are notorious for stating, in the report they're paid big bucks to execute, "There is no objective basis", for your complaints.

You don't have to agree to be examined by Dr. Nuttin' Wrong. Rock Solid Insurance cannot insist that you submit to their doctor for an examination unless your claim actually becomes a formal court case. So, hold your ground until your attending physician, Ole “Doc” Comfort, has released you. After that it's okay to agree to be examined because by then it's too late! So much time will have passed it will be impossible for Dr. Wrong to minimize the pain, discomfort and suffering your injury has caused you.

WHAT TO DO ABOUT YOUR MEDICAL BILLS IF YOU MAKE THE MISTAKE OF OBTAINING LEGAL HELP FROM ATTORNEY I. M. SHARP: Should yours be a case in which there's no question that you're not at fault, make it clear to the Legal Beagle you've hired, I. M. Sharp, Esquire, that you expect his Contingency Fee will not apply to that which he recovers for the damage to your car, your medical bills, and/or your payment for lost wages. You tell him these are damages you would have collected ANYWAY - - whether he was handling the case for you or if you settled it yourself. Don't you dare be foolish enough to hand him a huge percentage of that which you were going to be paid by the insurance company, whether Attorney Sharp handled the case or not. To do so is the height of financial stupidity!

YOUR BODILY INJURIES: It's a proven fact that the vast majority of motor vehicle accidents cause minor injuries. While bodily injury pain can be specifically measured the limits of what you can endure cannot. Each of us has a different "pain threshold" - - that is, the point at which we begin to feel physical pain. The amount and quality of pain you feel is not strictly dependent on the bodily injury inflicted. It has a lot to do with your previous experience, how well you remember it, and your ability to understand what caused you that pain, and its consequences, the last time around.

Stress and strain magnify physical pain plus personal anxiety will greatly increase it. There are also emotional reactions to the injury. A bodily injury is bound to cause some degree of mental distress. The duration and severity that depends on a number of factors: The type of individual you are, the ultimate consequences of the injury you sustained, and the life stresses or strengths you're experiencing at the time of your injury. (If you can't stand her and she takes a powder you’ll handle your pain better if you really dig the chick and she dumped you for your best friend)!

When it comes to muscle injuries one thing you must keep in mind is that when one part of the body demands rest (by sending out a pain signal) and - - without your even realizing it - - you help your body by placing a new burden on other muscles. It gets complicated because although those muscles may not have been directly injured in the accident, they can still get buggered up and produce a lot of pain because of their new role.

DISCLAIMER: The only purpose of this claim tip is to help people understand the motor vehicle motor vehicle accident claim process. Neither Dan Baldyga nor (name the magazine/newsletter and/or web site) make any guarantee of any kind whatsoever; NOR do they purport to engage in rendering any professional or legal service, NOR to substitute for a lawyer, an insurance adjuster, or claims consultant, or the like. Where such professional help is desired it is the INDIVIDUAL’S RESPONSIBILITY to obtain said services.

Winter Sports Travel Insurance

As the days grow shorter and summer becomes a memory, many of us will be turning our thoughts towards planning a winter vacation, especially one involving winter sports such as skiing. Travel insurance is an often overlooked part of holiday planning, but if you plan on taking part in sporting activites then it really is essential.

A normal travel insurance policy will probably not be up to the standard you need for winter sports, and if things go wrong you could be left facing a huge bill. So what features should you be looking for in a policy?

- Injury Cover

No matter how accomplished a skiier you are, hurtling down a mountain is always going to be more risky than simply lying on a beach working on a tan. And if you do have an accident, a mountainside isn't the easiest place for medical services to reach. If you're unlucky enough to need a mountain rescue or airlift to hospital, you'll be facing a bill running into the thousands even before you get medical attention. This sort of expense is likely to be specifically excluded on a standard insurance policy, but will be an integral part of almost any winter sports cover.

- Equipment

Most winter sports require expensive equipment, and where there are valuables there's always the chance of theft. Your insurance should provide enough cover to fully replace your equipment with brand new items if necessary, right there at the resort. Even if you plan to hire your equipment, the hire company will probably require insurance - and your own policy is likely to be cheaper than the standard one they'll try to sell you.

- Liability

Even the best skiiers or snowboarders can be involved in an accident in which someone else gets injured. Whether or not an accident is your fault, you could end up being taken to court and this is usually a long and expensive process. A decent insurance policy will cover costs from any legal proceedings and / or compensation payments.

- Closure of Piste

If bad weather (or warm weather!) means that the pistes are closed and you can't ski, your policy should pay you compensation to cover the costs of any pre-booked lessons or lift fees, and many will even include a payment simply to cover the inconvenience of not being able to ski.

- Off Piste

A final point to note is that a standard winter sports policy will probably only cover you for accidents that occur when skiing on designated pistes. If you plan to go off-piste, then make sure your insurance will cover this - you'll probably have to pay a supplement.

As with most kinds of insurance, paying out for travel insurance can seem like a waste of money. However, if you find yourself caught up in an accident on the mountainside then the costs involved can be truly frightening and you'll be glad you took the time to arrange adequate cover in advance!

Employment Insurance

It has often been said that bad things can happen to you even without your cooperation. That can also be said about jobs and careers. Shortage of available work, mass lay-off and retrenchments, reorganizations and mergers, in today fast pace anything can happen. When it comes, the experience can be devastating for many, made worse when savings are not enough, debts are high and payments are in arrears.

Being prepared is always the best way to cushion the effects of loosing income. Having insurance employment makes you continue to enjoy the benefits of income. Employment insurance can aid you on receiving maternity, sickness compassionate care services, provide support for a member of the family who is ill, caring for an infant, even fishing benefits and many more.

To apply for an employment insurance all you have to do is submit an application online. Employment insurance is paid even when the applicant will receive money when unemployed.

When applying for an employment insurance a "Record of Employment" will be required from you that you will have to get from your last employer or a proof of employment like pay slips, pay stubs and certification.

Other documents that you will need when you apply for an Insurance Employment will include:

Social insurance Number. If your SIN number starts with a 9, that means that you are an immigrant and will need to also supply your immigration status and work permit. You will have to supply a record of employment covering the past 52 weeks When claiming for medical and sickness benefit, a medical certificate will have to be furnished. When applying in person, prepare your driver’s license, passport or a birth certificate. Furnish also complete bank information.

Checks or voided checks from your current personal account will be required, as payments will be made direct to that account. When applying for parental benefits, the Social Insurance number of the other parent will be required.

If you are applying for compassionate care benefit, a medical certificate has to be supplied. You will also have to provide your version of the facts surrounding the cause of your unemployment. Together with this is a statement of the total salary before deductions, including commissions and other income benefits, the total amount that you will receive including severance pay, vacation pay, pension etc.

Do not delay when applying for an employment insurance, delaying the application beyond four weeks can cause penalties or loss of benefits.

If you receive financial assistance form the social services while waiting to get the Insurance employment claims, you will have to reimburse the amount out of your employment insurance benefit.

If you are indisposed and can not apply for your employment insurance, an appointment representative can be assigned to do the application on your behalf,

After you have applied for your employment insurance, you will receive in your mail a benefit statement including an access code and the date for your first report. Having an access code does not yet mean that your claim has already been decided on. Together with this will be an instruction on how to complete your report.

If you have filed your report with all the required information satisfied, you will start receiving your employment insurance benefits 28 days after the filing.

AARP Dental Insurance

If you have never heard of AARP dental insurance then now is your chance to learn about the best dental insurance available to you today.  AARP dental coverage is one that offers their clients many great advantages and benefits.  This company has been in the health care business for many years and has perfected how to please their clients and get them the best coverage possible.

With AARP dental, you are able to keep the dentist that you already have!  There are not many insurance policies that allow you to keep your own dentist.  This is very important for many people, once you have found a good dentist nobody wants to change.  This is their number one benefit.

AARP also provides you with great emergency care and saves you money from your own pocket.  The ARRP premiums are guaranteed for two full years!  This means that your coverage will not change at all within these two years.  This is something that many people are searching for, you have found it with AARP dental coverage.

When you are looking for dental insurance, you are looking for stability, to keep your own dentist, great coverage, and benefits to suit your dental needs.  AARP has all of this for you.  You do not have to look any further for the perfect dental insurance for you and your family.  With AARP, the benefits you receive are benefits that you need.  Unlike other insurance companies which provide you with benefits that you will never use.  AARP knows what you need and provides it for you with 100% satisfaction.

This dental insurance plan is easy to sign up for and even easier to get started with!  Check it out today and find out all the great benefits that you have been missing with your other dental insurance plans.

A Word About Child Medical Insurance

We love our children. From the moment we realize they are making their way into this world, we begin making plans for them. We want the best of everything for them, from homes and communities to schools and activities. We strive to raise them in safe, healthy, nurturing environments in hopes that they will grow into and remain safe, healthy, nurturing adults throughout their lives.

Child medical insurance must be included in our plans for our children. Children are constantly growing and exploring. They are active little people who spend a lot of time running, tumbling, playing sports, and creating potentially dangerous little games of their own. Plus, classrooms full of children are perfect breeding grounds during the cold and flu season. If your daughter’s best friend has a cold, you can safely bet that your daughter will have the sniffles within a few days, too. Inevitably our children will get sick, hurt, need medicine or x-rays once in a while or even more often!

The health and safety of our children is our most important goal. Unfortunately, sometimes we find ourselves in situations when our jobs don’t offer medical insurance. It is easier to tell ourselves “not right now” when it comes to treating a medical problem, but it is not that easy to tell our children “not right now” when they are running a dangerously high fever and ask us to help them feel better.

If you do not have medical insurance covered by your place of employment, or you are covered by medical insurance you purchase yourself, you need to stop and think about the medical insurance of your child. If you are not covered, or can not afford medical insurance for yourself or your child, there are agencies out there that will help you. You can find affordable, and sometimes even free, child medical insurance that will cover dental, vision, and health costs for your child.

Travel Insurance Guide

Travel Insurance – A Need to Know guide?

Travel insurance protects holiday expenses against adverse events such as cancellation and interruption and also reimburses medical expenses, the loss or damage of property and transit delays.

Many millions of travelers and holiday makers purchase some form of insurance every year, but few people know really what it is and how it can be defined. If you know what is included, and what is not you will be able to make the most of your protection, and get reimbursed fairly.

There are four main categories of travel insurance:

1.    Health and Medical reasons

Emergency evacuation: This garuantees emergency transportation to either a local hospital in the event that the traveller is unable to get there by themselves or back to a hospital near the traveller’s home town. If family members are covered on the same policy they can travel back home also.   

Medical reasons: This reimburses emergency medical and dental costs. Nearly all holiday insurance plans work by reimbursing the traveler after they have paid locally for treatment. Claims are usually paid within 7 – 10 working days. Pre-existing medical conditions are covered by most policies if the policy is purchased within (at the most) 21 days from the date the traveler made the first payment or deposit.

2.    Delays and cancellation or curtailment

Cancellation: Re-reimbursement comes into effect if travelers have booked and paid for a holiday, but are unable to embark because of personal illness or injury, death (of the individual or of a family member), adverse weather conditions, transport strikes, terrorism, bankruptcy, sudden unemployment, jury duty or by sustaining serious damage to their home causing it to be uninhabitable due to fire or flooding.

Delay: This reimburses travelers for hotel, food or clothing expenses in the event of a flight delay. Some plans also cover costs associated with catching up with a cruise should another delay cause the traveller to miss embarkation.
Interruption: Insurance companies pay money to policy holders abroad if they have to cut short their trip due to illness, death (of the traveler or a family member), terrorism, weather, airline strikes, bankruptcy, sudden unemployment, and other adverse conditions which mean that, due to events outside the control of the holiday-maker, a trip has to be curtailed.

3.    Death:

Accidental death – covers death or dismemberment at any time of your trip. Usually garuantees the lowest amount of coverage due to a higher risk
Air Flight accident – this covers death or dismemberment during an air flight only. Usually garuantees the highest amount of coverage due to fairly low likelihood of this occurring.

Common carrier – Covers death or dismemberment while travelling on public transport such as a plane, ferry, train bus or taxi.

4.    Loss or damage of property:

Baggage loss – reimburses travelers for lost, stolen or damaged personal items. This coverage is usually restricted to the duration of the trip and not confined to baggage damaged or lost by the airline. There are two policy limits, total claim and per item maximum. Some policies also place limits on the type of items that can be claimed for – such as precious jewelery, laptops and sporting goods

Hire Car damage – This reimburses travelers for damage or loss to a rental vehicle. It is designed to allow the traveler to decline collision damage waiver (CDW) coverage offered by the car rental companies. Liability coverage should still be purchased through the car rental company. Rental Car Damage coverage is also often included with the credit card used to pay for the car rental which is often matches the coverage provided in the policy.

Assistance services – guarantees a 24-hour collect telephone advice and assistance service to travelers. This service can be used anytime a traveler needs advice. Make sure you keep a copy of this number in several places in your luggage or on your person when you move around.

Health Insurance Crisis In America

Lack of health insurance coverage for over 41 million Americans is one of the nation’s most pressing problems. While most elderly Americans have coverage through Medicare and nearly two-thirds of non-elderly Americans receive health coverage through employer-sponsored plans, many workers and their families remain uninsured because their employer does not offer coverage or they cannot afford the cost of coverage. Medicaid and the State Children’s Health Insurance Program (SCHIP) or HAWK-I here in Iowa help fill in the gaps for low-income children and some of their parents, but the reach of these programs is limited. As a result, millions of Americans without health insurance face adverse health consequences because of delayed or foregone health care and extending coverage to the uninsured has become a national priority.  -(Information taken from kff.org)

The number of people that are forced to go without health insurance is nothing less than a crisis in this country today. We have fallen into a vicious cycle over the last few decades in which health insurance premiums have become too expensive for even a middle class family to afford. This in turn results in the inability of the uninsured to cover medical costs which often times results in the financial ruins of the family, and in turn results in the continuing loss of income by the medical community, which in turn drives the cost of medical expenses higher, finally cycling back to the insurance company which then must drive the premiums of health insurance higher to help cover the rising cost of health care.

Many proposals have been tossed around by politicians on both sides of the isle ranging from socializing health care comparable to the Canadian system, to endorsing health savings accounts and cracking down on frivolous law suits against the medical community. Many of these proposals have good points, but along with whatever good points they bring they also bring major downfalls. For instance; a socialized national health care program would eliminate the need for health insurance all together and the cost would be taken on by taxes, which in theory doesn't seem like a bad idea. However, the downfalls to this system include a deficit in new doctors willing to get into the field due to the inevitable decline in income while the demand would grow due to no personal responsibility. In short if people didn't have to worry about deductibles or copays that would normally keep the person from seeking medical treatment for minor things, they would simply go to the doctor every time they had an ache or pain. So now we have waiting lines for people with major health problems since everyone is scheduling an appointment while at the same time we are loosing doctors due to lack of incentive.

The current battle cry by the republican Bush administration is to push HSA's (Health Savings Accounts) which reduce premium by taking a less expensive high deductible health insurance plan with a tax deferred savings account that earns a small interest on the side that you contribute to along with your premiums each month. Any money withdrawn from the savings account for qualified medical expenses are taken "tax-free", and unlike a flex spending account like many people are familiar with in employer based plans, you don't lose the money you put into the account that you don't use. Basically if you never used any of that money in the savings account you could withdrawal or roll it over into another vehicle once you turn 62 1/2 penalty free to be used for retirement. This is a viable option for some people, however for many the premiums for these plans are still too expensive, and the problem remains that if you need major treatment in the first few years of the policy you will not have a big enough amount in the savings account to help cover the gaps leaving that person responsible for a large portion of the cost out of pocket.

Now we come to what I believe is one of the biggest problems from a health insurance agent's point of view, which is the inability for persons with pre-existing health conditions to obtain coverage. From the number of people that contact my office searching for health insurance coverage, I would have to say that about half of them have a health condition that will either result in an insurance company declining that persons application, or result in an amendment rider which basically excludes coverage for any claims related to that condition. An example of a condition that I run across constantly is hypertension or high blood pressure. This condition will sometimes result in a company declining an application all together if other factors are involved, but most generally result in an amendment exclusion rider. You may think that this isn't that big of a deal, after all, blood pressure medicine is about the only thing they would have to pay for out of pocket, but what many people don't realize is that this rider will exclude ANYTHING that could be considered part of this condition including heart attacks, strokes, and aneurisms which would all result in a huge out of pocket claim. Consider the fact that my father had a double by-pass surgery recently that ended up with a final bill of around $150,000. This whole amount would have had to come out of pocket had he had a hypertension rider on his health insurance policy, not to mention the added cost of 2 months off of work thrown into the mix. On a modest income of $40,000 per year this would have ruined him financially.

So what how do we fix this problem? Obviously the proposals thus far have been flawed from the beginning, and even if one of these plans gained support from the American people chances are it would never be passed into law simply due to political infighting. One side wants to keep health care privatized while the other wants to socialize it, which as we discussed before both have upsides and downsides. It seems that we are doomed on this issue and there is no real ideas or light at the of the tunnel right? Maybe not, let me tell you about a client I had in my office a couple of years ago.

A young woman came in wanting to compare health insurance plans to see if there were any options for her and her family. She had several children and had been on Title 19 Medicaid and had been going to college paid by the state. She had recently graduated from college and had gotten a job with the local school system, however for whatever reason she was not eligible for health insurance benefits. Obviously she still couldn't afford 5 or 6 hundred dollars per month for a plan so she went back to the aid office and explained her situation. They ended up working with us to find an acceptable private health insurance plan and reimbursed her for a percentage of the cost which I didn't even know was possible!

This got me thinking, consider how many more people would be able to obtain coverage if they could be reimbursed by the government a percentage of the premium according to their income. For example; take a young married couple in their 20's with one child, let's say that their family income is $25,000 and that the average premium for a $500 deductible health insurance plan for them is $450. Just as an example let's say that the government determined that a three person family with an annual income of $25,000 is reimbursed 50% of their premium taking the actual cost to the family to $225 per month. This is now an affordable enough premium for the family to consider.

With this merging of private insurance with government assistance we get the best of both worlds. Of course the next question goes to cost, how much more would this cost the American tax payer and how much would this raise taxes? I don't think that it would cost the tax payers much more an here's why I think that: First off we would bring down significantly the amount of uninsured people that are unable to pay for the medical care they get in turn driving down the total cost of health care. Secondly the number of people that are forced into bankruptcy and driven to Medicaid Title 19 assistance due to medical bills stemming from catastrophic medical conditions that don't have health insurance coverage would be significantly reduced. This is important to keep in mind considering that once someone is on Medicaid they are receiving health care basically 100% covered by the government so there is no more incentive to not seek treatment for minor or non-existing conditions. On the flip side many conditions that would have not been caught before they became severe because a person didn't seek treatment due to not having insurance coverage would now be caught before they turned into a catastrophic claim. Finally, if the government allocated a certain amount of money to help cover claims by people that have pre-existing conditions the private insurance companies could do away with exclusions and declines due to already existing health problems, this is already done is some states such as the HIPIOWA Iowa Comprehensive Plans which insures Iowa residents that can not obtain coverage elsewhere.

You may be sitting there thinking that this is all just wishful thinking and that these ideas could never be implemented, but all of these ideas are already being implemented. The problem is that only some states do some programs and not even most health insurance agents know that some low income families can get reimbursed for health insurance premiums. If these programs were all standardized and put into effect on a national well publicized level I believe it would put one hell of a dent in the uninsured population in this country. Now I don't pretend to know what the reimbursement levels should be for what income levels but I do know that anything is better than nothing, and in my opinion this is the best middle ground we could find. The Democrats would be happy with the socialized aspect of the reimbursement, and the republicans should be happy that health care remains privatized giving this solution a better chance at a by-partisan backing.

I have faxed this idea to several senators and congressmen but always received the same type of standard response about how they are concerned with health care and that they are working hard to find a solution knowing full well that no one really even read my letters. The only way to get these ideas out into the public is for you that read this to pass it on to others by word of mouth, by email, or by linking your websites to this web-page. If enough buzz is created than these ideas would get the consideration that they deserve, and if enough people like you and I demanded that a solution be found than perhaps enough stress can be placed on the politicians to get something done. The number of uninsured Americans is only going to go up, the cost of health care is only going to go up, and the cost of health insurance premiums are only going to go up if something isn't done now! Until then the only thing that I as a health insurance agent can do is to compare all of the options out there and present you with the lesser of all of the evils, which in too many cases the option that is chosen is the biggest evil of going without coverage.

Dental Insurance Guide

Dental insurance is taken to cover teeth problems. These include problems such as breaking teeth in an accidents or after having a fall. Dental insurance can be flexible and structured in order to meet the different dental needs of people.

Dental insurance normally covers the costs or two dental checkups a year. Simple procedures like cleaning and filling the teeth are also covered by these insurances. As a result of this, people with dental insurance get their teeth checked periodically and most of their dental problems like root canal operations, crown filling and dental bridgework are nipped in the bud. This is actually a clever business ploy adopted by dental insurance companies. By exhorting people to get their teeth checked companies save people from having to spend on expensive treatments in the future.

Several companies provide free dental insurance for their employees. As the dental expenses of an average person in a whole lifetime are not too high, dental insurance premiums are also nominal. Such group dental insurances work in a slightly different manner. Employees of these companies are provided a list of dentists who are registered with the insurance company. They can approach them with their dental problems and get the appropriate insurance coverage. In certain areas, dental insurances are provided only for groups and not for individuals.

However, like any other insurance, dental insurance carries certain problems with it. There are forms to be filled out, and the whole process of claim letters, and paying premiums makes the process cumbersome to some. In group dental insurances, the claim letters and premium payments are handled by the employers. There may also be instances when the money claimed is not released or is released after a long time. Dental insurances have an upper limit per year. If this limit is exceeded, it will not be covered by the dental insurance company. This is a problem considering most dental insurances provide a limit of $1,000 per year; but a single root canal operation may cost $3,500.

Dental insurances are actually very cheap to purchase. A dental insurance for an entire family can amount up to $80 in annual premiums. Group insurance premiums are marginally cheaper.

Guide To Car and Motor Insurance

Whether you’re buying clothing or shopping for car insurance, you always want to get the best value for your money. So, what’s the secret to finding reliable, affordable car insurance?

Shop around for the best deal. Get several car insurance quotes from different insurance companies before you buy or renew your policy. Insurance companies vary, so you could get a better deal somewhere else.

Don’t be afraid to switch. You can switch insurance companies whenever you want, even if it’s in the middle of your car  insurance policy term. If you find a better rate, switch and save.

There are three types of Car Insurance:

Third party, which covers your legal liability if you damage someone else’s physical property (walls, vehicles, gates etc.) due to a driving accident.

Third party, Fire and Theft offers third party cover and adds on two useful pieces of cover - fire damage to and theft of your car, including damage caused by a theft or attempted theft.

A fully comprehensive policy includes Third Party, Fire and Theft and in addition will pay for damage to your own vehicle in the event of an accident. There are many extras, too, for example it will also give you cover when you drive other people's cars - useful if you borrow someone's car and their insurance does not cover you.

The following factors affect what you pay for your premiums.

Your age, your job, your driving record.

The car you drive. The higher the value of the vehicle, the higher the premium. High performance vehicles are also more expensive to insure than their stock standard equivalents.

Then there's the location of the car. You'll pay more if you keep the car in a high-crime area or park it on the street at night.

What you use the car for. You'll pay more if, for example, you plan to use the car for business delivery purposes.

Then there is the excess structure that you choose. The higher the excess the lower the premiums.

Gear Locks, Satellite Tracking - will help reduce your premiums

If you are buying a new car ? Don't forget to shop around for Insurance!

For a first-time car buyer, the process can be a difficult decision. Many buyers are not aware of the fact that they need to have insurance before driving their new car off the showroom floor. The financial institutions providing the finance for the purchase will insist on this, in order to ensure that their new asset is protected.

Don't just accept the first offer that is given to you, get at least 3 quotes before making your decision. "Many banks or finance institutions are affiliated to an insurance company or brokerage firm. New buyers therefore may find themselves feeling pressurized to take insurance cover through the bank's preferred supplier. It is important to know that this cannot be enforced and the decision lies with the client. This makes it essential to shop around for competitive quotes, to ensure that you are offered the best deal - from the perspective of both cover and price. For young drivers, this becomes imperative, as they are often penalized for their age and lack of driving experience, translating into higher premiums and excesses."

Cash buyers are not exempt from the need to insure their new car. Thefts and hijackings are still a reality and the growing number of cars on the road puts all drivers at increased risk of being involved in an accident. Choosing an insurance product that is suitable in terms of budget, value adds, cover and excess payable is a careful decision that, with the right advice, can be made sensibly and safely.

Many young, first-time buyers find that purchasing insurance through a direct insurer is actually a simple process.

They are likely to receive a tailored insurance solution catering for their specific needs - with direct insurance, clients don't pay any additional charges for getting what they want. Any driver about to embark on purchasing a new vehicle would do well to consider the time- and cost-saving benefits of direct insurance."

Free Term Life Insurance Quote Is Only Easy To Obtain

By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need.

Once the company receives your request for a free term life insurance quote, then an agent will carefully review the application and email a quote to you based on the term of the policy and the amount of the death benefit. You should not base the quote you receive on that of a friend or another family member because every individual is different in his/her needs. Because you are shopping for low cost term life insurance, you do need to request free quotes from at least three companies.

Term life insurance is only good for the life of the term. At the end of the term, you have the option to renew the policy, but you may not get it for the same free term life insurance quote as you started with. This is because your age has certainly changed and your needs in terms of a settlement have also changed. However, you still want to get the best rates possible for low cost term life insurance.

You do not have to be in perfect health to get a free term life insurance quote. In fact, you can get low cost life insurance without even having a medical exam. Even if you do have life-threatening diseases, you can get a free quote for term life insurance but it may not be the low cost term life insurance you are hoping for. This is because you are in a higher risk category because your chances of dying within the term are much greater. Even if the premiums are a little higher, you are still leaving something for your family and to pay for your funeral.

A CPA Talks About Buying Life Insurance

Not everyone needs life insurance. The first thing to do is make sure you need it. Life insurance is really meant for your family members or other dependents who rely on your earnings.

Why You Buy Life Insurance

You buy life insurance so that, if you die, your dependents can live the same kind of life they live now. Strictly speaking, then, life insurance is only a means of replacing your earnings in your absence. If you don’t have dependents (say, because you’re single) or you don’t have earnings (say, because you’re retired), you don’t need life insurance. Note that children rarely need life insurance because they almost never have dependents and other people don’t rely on their earnings.

Life Insurance Comes in Two Flavors

If you do need life insurance, you should know that it comes in two basic flavors: term insurance and cash-value insurance (also called “whole life” insurance). Ninety-nine times out of 100, what you want is term insurance.

Term Life is Simple to Buy and Understand

Term life insurance is simple, straightforward life insurance. You pay an annual premium, and if you die, a lump sum is paid to your beneficiaries. Term life insurance gets its name because you buy the insurance for a specific term, such as 5, 10, or 15 years (and sometimes longer). At the end of the term, you can renew your policy or get a different one. The big benefits of term insurance are that it’s cheap and it’s simple.

Cash Value is Trickier

The other flavor of life insurance is cash-value insurance. Many people are attracted to cash-value insurance because it supposedly lets them keep some of the premiums they pay over the years. After all, the reasoning goes, you pay for life insurance for 20, 30, or 40 years, so you might as well get some of the money back. With cash-value insurance, some of the premium money is kept in an account that is yours to keep or borrow against.

This sounds great. The only problem is that cash-value insurance usually isn’t a very good investment, even if you hold the policy for years and years. And it’s a terrible investment if you keep the policy for only a year or two. What’s more, to really analyze a cash-value insurance policy, you need to perform a very sophisticated financial analysis. And this is, in fact, the major problem with cash-value life insurance.

While perhaps a handful of good cash-value insurance policies are available, many— perhaps most—are terrible investments. And to tell the good from the bad, you need a computer and the financial skills to perform something called discounted cash-flow analysis. If you do think you need cash-value insurance, it probably makes sense to have a financial planner perform this analysis for you. Obviously, this financial planner should be a different person from the insurance agent selling you the policy.

What’s the bottom line? Cash-value insurance is much too complex a financial product for most people to deal with. Note, too, that any investment option that’s tax-deductible—such as a 401(k), a 401(b), a deductible IRA, a SEP/IRA, or a Keogh plan—is always a better investment than the investment portion of a cash-value policy. For these two reasons, I strongly encourage you to simplify your financial affairs and increase your net worth by sticking with tax-deductible investments.

If you do decide to follow my advice and choose a term life insurance policy, be sure that your policy is non-cancelable and renewable. You want a policy that cannot be canceled under any circumstances, including poor health. (You have no way of knowing what your health will be like ten years from now.) And you want to be able to renew the policy even if your health deteriorates. (You don’t want to go through a medical review each time a term is up and you need to renew.)

Basic Guide To Home Contents Insurance

Basically, home contents insurance is insurance protection against the replacement cost that you would otherwise have to pay to replace the contents of your home in the event of then being lost, damaged or stolen.  As is the case with home buildings insurance, the main factors contributing to grounds under which you can make a claim against your home contents insurance include theft/burglary, damage due to floods, burst water pipes or boilers, etc.

<b>There are, however, two very important factors that you need to keep in mind when insuring the contents of your home:</b>

<li> First, in the case of home contents insurance, it is rarely the case that your mortgage provider is going to insist that you have this type of insurance as part of your mortgage agreement;

<li> Second, regardless of whether you own or rent the property you are currently living in, you should still be looking to insure the contents of your home – as these are your personal possessions.

Two further aspects of home contents insurance also need to be considered carefully when you are checking out the different kinds of policies on offer.  In some, but not all, cases you can be insured for your home contents even when the items listed in your home contents insurance policy are not actually physically located on the home ‘property’.  So, for example,

<li> First, it is possible to claim when you are transporting items from one place to another and they are stolen.

<li> Second, home contents insurance is insurance against the replacement cost of the item being insured.
 It does not, nor is it intended to, insure you against the nostalgic value of the item damaged/lost.  So, for example, if you insure a picture your deceased grandmother gave you, which would cost £20 to replace, it makes little difference that it was your deceased grandmother who gave it to you and that it cannot, therefore, be replaced.

Although home contents insurance is, in all but a few very rare circumstances, a completely voluntary scheme of insurance to subscribe to, if you are in any doubt as to the value of this insurance scheme, take a quick mental inventory of the contents on your home and their value and then get a few quotes off the internet and you’ll soon be seeing the value of having your home contents properly insured.

why a person needs life insurance

Insurance is designed to protect a person and the family from disasters and financial burdens. There are many kinds of insurance of which, the basic and most important is considered to be life insurance. It provides for the dependents after your death.

Since there are certain financial commitments you need to meet throughout life and do contribute in some way to the family income, you need to provide something even in death—to secure the home, help the family meet expenses for a while, protect dependent parents, or secure the children or spouse.

Financial obligations could include funeral expenses, unsettled medical bills, mortgages, business commitments, meeting the college expenses of the children, and so on.

How much insurance a person needs would vary, depending on lifestyle, financial needs and sources of income, debts, and the number of dependents? An insurance adviser or agent would recommend that you take insurance that amounts to five to ten times your annual income.   It is best to sit down with an expert and go through the reasons why you should consider insurance and what kind of insurance planning would benefit you.

As an important part of your financial plan insurance provides peace of mind for any uncertainties in life.

1.    Life insurance correctly planned will on premature death provide funds to deal with monies due, mortgages, and living expenses. It offers protection to the family you leave behind and serves as a cash resource.

2.    It secures your hard earned estate on death by providing tax free cash which can be utilized to pay estate and death duties and to tide over business and personal expenses.

3.    Life insurance can have a savings or pension component that provides for you during retirement.

4.    Some policies have riders like coverage of critical illness or term insurance for the children or spouse. There are certain rules regarding eligibility for riders which you will need to determine clearly.

5.    Having a valid insurance policy is considered as financial assets which improves your credit rating when you need health insurance or a home loan or business loan.

6.    In case of bankruptcy, the cash value as well as death benefits of an insurance policy is exempt from creditors.

7.    Life insurance can be planned such that it will cover even your funeral expenses.

8.    Term life insurance has double benefits, it protects and you can get your money back during strategic points in your life.

9.    Insurance protects your business from financial loss or any liabilities in case a business partner dies.

10.    It can contribute towards maintaining a family’s life style when one contributing partner suddenly dies.

Insurance is vital to good financial planning and security but you would need to assess your personal risk and long term commitments. Insurance stands a person in good stead throughout life and can be used in case of emergencies during a life time by requesting a withdrawal or loan.

Easy Tips for Cheaper Home Insurance

No one likes paying for home insurance, but it's a necessary evil for most of us. This doesn't mean you have to pay through the nose for it though - try these 8 easy tips for cheaper home insurance and see how much you could reduce your premiums by.

- Shop Around

By comparing prices from several insurance companies, you'll probably be able to reduce your premiums by a substantial amount. This may seem obvious, but research has shown that a surprisingly large proportion of people either just renew their current policy, or get only one or two quotes. Many insurance web sites will automatically compare dozens of policies for you, making this one of the easiest ways to reduce your insurance bill.

- Buy online

If you buy your policy online you can often get a discount of up to 20% on normal prices, because there are less administration costs involved and the savings can be passed on to you.

- Combine your buildings and contents policies

Many insurers will give you a discount if you take out both types of home insurance with them, and this usually works out cheaper than getting the two kinds of policies from different companies.

- Pay upfront

Although most insurers let you pay your premium in monthly installments, many will charge interest for this. If you can afford to pay a full year's premium in advance, then this will work out cheaper in the long run.

- Don't claim for small amounts

Making many small claims can increase your insurance costs, as your insurer may see you as a greater risk and increase your premiums. You will also lose any no claims discount your policy has. Of course, you're entitled to claim for anything your policy covers, but ask yourself if making a small claim is really worth the hassle and possible future costs.

- Voluntary excess

This is related to the last point. Insurance policies feature something known as 'excess', which basically means that the policy won't pay out on claims below a certain value. On some policies, if you choose to raise your excess to a higher level, then your premiums will be lower.

- Increase your home security

Beefing up your home security with better door locks, window locks, outdoor lighting, and alarm systems can all result in lower premiums. Ask your insurer what you could do to get extra discounts.

- Reduce your cover

Many policies feature benefits that you might not need, such as cover for personal possessions while traveling, or 'free' legal advice. Look through your policy and see what parts of it you really need - by cutting your cover down to size you may be able to reduce your premium.

Know About Health Savings Account Plans

Health savings accounts (HSAs) are wildly popular.  Since their introduction in 2004, approximately 2.5 million Americans have enrolled in these so-called consumer-driven health plans.  But, alas, HSA plans are not for everyone.
Here are some pointers to help you consider whether an HSA will benefit you and your family.


1. An HSA plan can cut healthcare costs by an average of 40% for many people.
Nevertheless, some people will not realize any net savings. Those most likely to realize significant savings are people who pay all of their own health insurance premiums, such as the self-employed, who are relatively healthy with few medical expenses.



2. <a href="http://www.hsahealthplans.com ">health savings plan </a> restores freedom of choice.
An HSA plan puts individual consumers back in control of their own health care. This also means that each individual must be more responsible for his or her own health care decisions. This approach of self-reliance is not always popular with or appropriate for everyone, especially those who have become comfortable with HMO-type "co-pay" plans.

3. <a href="http://www.hsahealthplans.com ">Health savings accounts</a> reduce income taxes.
Every dollar contributed into your HSA account is deducted from your taxable income in the same manner as contributions into a traditional IRA account--regardless of whether you spend it or just save it.  Interest and investment earnings in a HSA accumulate tax-deferred, just like a traditional IRA. Unlike an IRA, withdrawals are tax-FREE when used to pay qualifying medical expenses.  In many situations, new account holders are able to almost fully fund their HSA with money saved on premiums from a prior, higher priced plan.  By stashing all or most of those savings into an HSA, the account holder realizes instant, additional savings in the form of reduced taxes.


4. You must have a properly qualified high health insurance policy in place first before
you can open a health savings account. One of the biggest misconceptions about HSA plans is that any insurance policy with a high deductible will qualify the policyholder to establish an HSA account. IRS regulations, however, are quite specific.  Not just any policy with a so-called "high deductible" will suffice.  It is important to be certain that you are insured under a properly qualified policy.  Your best bet is to work with a qualified and duly licensed health insurance broker who is experienced in marketing properly qualified HSA plans.


5. You must be insurable in order to qualify for the HSA-qualified health insurance policy.
Because most people do not have a properly qualified high deductible insurance policy, they will need to switch insurance plans in order to become HSA-eligible. Unless coverage is being offered under small group reform laws (generally groups with 2-49 employees), the new high deductible policy will be individually underwritten by an insurance company.  This means that some "pre-existing" conditions may not be fully covered.  Alternatively, some companies may opt to cover certain "pre-existing" conditions in exchange for slightly higher premiums. Unfortunately, some health conditions simply render an individual uninsurable (examples: diabetes, chron's disease, heart attack, etc.).  Underwriting requirements vary by state, which is another reason to rely on an experienced health plan broker.
You should not switch to a HSA plan when the management of existing medical expenses is more important than saving up-front medical insurance premiums. Do not change health plans: in the middle of ongoing medical treatments; after a major health issue has been diagnosed; or if any family member is pregnant.
Generally, it is relatively hassle-free to qualify, i.e. no medical exams, etc. Most insurance companies offering HSA coverage will issue based on your application answers, perhaps accompanied by a follow-up telephone interview. In some cases, medical records may be requested, and companies always reserve the right to order a paramed exam.


6. Although HSA insurance premiums are low, they are not always as low as you might expect.
This happens for one main reason. Simply stated, the underlying insurance policy is just that—a health insurance policy.  Although it has a "high" deductible, as required by law, the insurance company still must compensate for the risk it is assuming over the deductible amount, which it does by charging premiums.  Many companies offer policies with “one deductible” that all family members contribute toward.  With those plans, it is not uncommon for premiums for a 5000 family deductible with 100% coverage after the deductible to be comparable to a 2500 "per person" deductible plan with 80/20 coverage after the deductible.
Lower premiums represent just one element of the lower net cost achieved with an HSA plan.  The low net cost of an HSA plan is achieved after factoring in the benefits of lower taxes, made possible by the tax-deductible contribution to the HSA account. Thus, if obtaining the lowest possible gross premium is your main concern, you may wish to consider a high deductible, non-HSA policy, especially if you do not see the benefit to contributing to a tax-deductible savings account.

7. An HSA offers your best chance to keep a lid on health insurance rate increases.
Make no mistake-you will have rate increases with your HSA insurance policy. Because an HSA qualified policy is still a health insurance policy at heart, there is no logical reason to presuppose that an HSA policy would be immune to rate increases required by an insurer to keep paying claims and stay in business. But what you can expect is that the actual dollar amount of any future rate increases will be substantially lower compared to traditional health insurance plans (regular PPO and HMO plans).  This is true because insurers base increases on percentages, and the same percentage of a lower base premium results in a lower dollar increase. It's not a perfect solution-but it is the most cost-efficient solution for many qualified people.

Seniors (and Everyone Else) Should Know About FDIC Insurance

Older Americans put their money… and their trust… in FDIC-insured bank accounts because they want peace of mind about the savings they've worked so hard over the years to accumulate. Here are a few things senior citizens should know and remember about FDIC insurance.

1. The basic insurance limit is $100,000 per depositor per insured bank. If you or your family has $100,000 or less in all of your deposit accounts at the same insured bank, you don't need to worry about your insurance coverage. Your funds are fully insured. Your deposits in separately chartered banks are separately insured, even if the banks are affiliated, such as belonging to the same parent company.

2. You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories. There are several different ownership categories, but the most common for consumers are single ownership accounts (for one owner), joint ownership accounts (for two or more people), self-directed retirement accounts (Individual Retirement Accounts and Keogh accounts for which you choose how and where the money is deposited) and revocable trusts (a deposit account saying the funds will pass to one or more named beneficiaries when the owner dies). Deposits in different ownership categories are separately insured. That means one person could have far more than $100,000 of FDIC insurance coverage at the same bank if the funds are in separate ownership categories.

3. A death or divorce in the family can reduce the FDIC insurance coverage. Let's say two people own an account and one dies. The FDIC's rules allow a six-month grace period after a depositor's death to give survivors or estate executors a chance to restructure accounts. But if you fail to act within six months, you run the risk of the accounts going over the $100,000 limit.

Example: A husband and wife have a joint account with a "right of survivorship," a common provision in joint accounts specifying that if one person dies the other will own all the money. The account totals $150,000, which is fully insured because there are two owners (giving them up to $200,000 of coverage). But if one of the two co-owners dies and the surviving spouse doesn't change the account within six months, the $150,000 deposit automatically would be insured to only $100,000 as the surviving spouse's single-ownership account, along with any other accounts in that category at the bank. The result: $50,000 or more would be over the insurance limit and at risk of loss if the bank failed.

Also be aware that the death or divorce of a beneficiary on certain trust accounts can reduce the insurance coverage immediately. There is no six-month grace period in those situations.

4. No depositor has lost a single cent of FDIC-insured funds as a result of a failure. FDIC insurance only comes into play when an FDIC-insured banking institution fails. And fortunately, bank failures are rare nowadays. That's largely because all FDIC-insured banking institutions must meet high standards for financial strength and stability. But if your bank were to fail, FDIC insurance would cover your deposit accounts, dollar for dollar, including principal and accrued interest, up to the insurance limit. If your bank fails and you have deposits above the $100,000 federal insurance limit, you may be able to recover some or, in rare cases, all of your uninsured funds. However, the overwhelming majority of depositors at failed institutions are within the $100,000 insurance limit.

5. The FDIC's deposit insurance guarantee is rock solid. As of mid-year 2005, the FDIC had $48 billion in reserves to protect depositors. Some people say they've been told (usually by marketers of investments that compete with bank deposits) that the FDIC doesn't have the resources to cover depositors' insured funds if an unprecedented number of banks were to fail. That's false information.

6. The FDIC pays depositors promptly after the failure of an insured bank. Most insurance payments are made within a few days, usually by the next business day after the bank is closed. Don't believe the misinformation being spread by some investment sellers who claim that the FDIC takes years to pay insured depositors.

7. You are responsible for knowing your deposit insurance coverage.

Know the rules, protect your money.

Auto Insurance Tips

1> Raising your deductible
Deductible is the amount you pay from your pocket before making an insurance claim. The disadvantage of raising your claim is when you make a claim, you will pay more. However, if you are a safe driver, you will overtime save more money by raising your insurance deductible. Look at your previous insurance claim history and make a discreet decision for yourself.

2> Older Auto - Drop comprehensive / collision coverage.
If your car is not worth much, why pay for comprehensive and collision insurance coverage. You can visit a myriad of online sites to find true worth of your car. Additionally your insurance broker might be able to pull up the true worth of your vehicle.

3> Taking advantage of low mileage
Some auto insurance companies will give discounts if you drive less than a certain number of miles or drive less than a certain distance to work.

4> Moving - Consider insurance costs.
If you are considering moving, it will be a good idea to call your insurance agent and get his opinion on the insurance costs in the new city or state.

5> Low profile vehicle
Your vehicle will also determine your overall insurance costs. Some of the cars are favorite for thieves since they fetch a good price. Some cars are more expensive to repair. It makes a lot of sense to do adequate amount of research before you make your auto purchase.

6> Make sure your vehicle is correctly listed by your insurance agent.
Many manufacturers offer somewhat similar model names for vehicles but insurance costs may vary. Additionally 2 or 4 door or the wrong model can impact your auto insurance quote.

7> Have your insurance broker check other insurance company discounts.
A lot of companies will offer discounts if you and your spouse are insured with the same insurance company. Additionally, if you seek home insurance, life insurance, auto insurance from the same insurance company, you will get some discounts. Check with your insurance agent on saving money.

Common Property Insurance Mistakes - Must to Check

Getting the right property and casualty insurance coverage may not rank high on your list of financial priorities. Compared with investment decisions and estate planning issues, questions about the language in your homeowners policy, say, may seem hardly worth considering. Yet the more successful you become, the more complicated your asset-protection needs are likely to be—and the more you have to lose. Suppose, for example, that in addition to your primary residence—a historic home—you also own a house at the beach and a condo in the city. The properties are in three different states. The value of your collection of Abstract Expressionist paintings has grown rapidly. And you just volunteered to serve on the board of directors of a charitable organization.

Almost every aspect of this situation could cost you dearly. Insurance laws may vary widely from state to state, different kinds of property require specialized coverage, and collections of art, antique cars, and other unique items may be difficult to protect fully. Meanwhile, serving on a nonprofit's board could subject you to additional personal liability.

Safeguarding yourself and your family may mean buying additional coverage, but more insurance isn’t necessarily the solution. Rather, it’s important to review all of your needs, consider specialized policies or policy options, and coordinate your coverage with other aspects of your financial situation. Here are 6 different shortcomings that could prove costly.

1.  Leaving gaps in homeowners coverage. Any homeowner needs to review coverage regularly to keep up with rising replacement costs. But insuring different kinds of homes in different locales poses extra challenges. If you buy insurance from more than one carrier, you may face contrasting rules, limitations, and policy renewal dates. For example, the liability limit on the policy for a second home might fall below the minimum on an excess liability policy designed to complement the insurance on your primary home. You could wind up responsible for the difference.

2.  Ignoring properties unique characteristics. One perk of affluence is the means to own exceptional homes; one drawback is that they may be difficult to insure adequately. Standard homeowners coverage won’t pay for the materials and craftsmanship needed to rebuild that 19th century showplace you’ve painstakingly restored. Coastal homes may face hurricane damage, while a place in the California mountains could be subject to earthquakes or wildfires. Meanwhile, city co-ops or condos may need policies tailored to their buildings or associations coverage.

3.  Under insuring art and collectibles. Standard homeowners policies limit coverage for the losses of antiques, furs, and other valuables. And while you could schedule additional coverage, insuring the real value of a collection of contemporary art or vintage muscle cars likely will require a specialized policy addressing several critical issues. How is the value of the collection determined? (You’ll need a professional appraisal when the policy is designed, with frequent updates as items appreciate.) Will a damaged or destroyed item be paid for with cash, or will you be required to have it replaced or restored? Will additions to your collection automatically be covered?

4.  Forgetting to insure household employees. When someone works for you or your family, as a nanny, landscaper, personal assistant, or in another role, you could be liable for medical expenses and lost wages if the worker is hurt on the job. Several states require household employers to pay into a workers compensation fund, while in other states it’s optional, but providing such insurance may be mandatory for ensuring your financial well being. If an employee drives your car, also make sure he or she is included on your policy.

5.  Neglecting your liability as a board member. Excess liability coverage could help protect you if you’re sued as a director of a nonprofit's board. Or for more comprehensive protection, you may want to consider special directors and officers liability insurance.

6.  Failing to get frequent policy reviews and updates. Your financial life isn’t static, and neither are your insurance needs. The value of a collection may increase; extensive home renovations could mean a sharp rise in the value of your property; and the re titling of assets as part of your estate plan—or because of divorce, a death in the family, or the birth of a child—could necessitate policy changes. Even lacking major events, you probably need a comprehensive review of all your insurance coverage at least every two years.

Finding the Right Dental Insurance Company

With so many dental insurance plans to choose from it can be a daunting task to determine which plan is best for your needs or the needs of your employees. And to note, these needs are extremely important, as the dental care should never be overlooked. There are five tips that may help you discover which plan is right for you.

1. Consider Online Comparisons - While a trusted broker can provide you with several options to choose from, an online comparison of companies and dental insurance options can provide a means of insuring the greatest flexibility and price. The available plan types are extremely varied and an online comparison can allow you to see what a plan will and will not be able to do.

2. Price Comparison - It may be easy to make a quick decision based on a simple query, however, if you are working with a broker there may be other options they can present that may decrease the overall cost. Again by using an online comparison, you may be able to view all options and all price ranges. This information can provide information that can help you select a plan that fits your budget.

3. Benefit Comparison - There are several questions that you should consider when purchasing a dental insurance plan. Here are a few samples to consider.

Ÿ    Will I be able to select my own dentist?
Ÿ    Are there select dates and times that a dentist may restrict visits by individuals that are a part of a particular plan?
Ÿ    Do I need insurance with co-pay?

4. Determine Personal Needs and Objectives - No one likes change, but you must ask yourself if certain components in a dental insurance plan are really a need or a want. You should determine what your objective is in obtaining dental insurance. When you understand your motivation and needs you’ll be better able to select a plan.

5. Understanding the Importance of Coverage - Once you understand that a dental insurance plan removes the barrier to oral health and that improved oral health is linked to improved physical health, a dental insurance plan begins to make sense.

Like major medical insurance, dental insurance provides a means of managing the rising cost of dental care. In certain cases premiums for dental insurance is tax deductible.

Quickest ways to lower Your Health Insurance Premium

It is an old saying — “Health is Wealth.” The most important step to maintain this wealth is to get a health insurance policy for you as well as your family. But, sometimes the premiums of such policies can leave you in and out of the budget situation. Can you really do something to bring down your premium? Read on to learn about the quickest ways to lower your health insurance premium.


1.    Adopt a healthy lifestyle

Living a healthy life has many benefits. Your healthy lifestyle can easily help you in bringing down the health insurance premium. Exercise regularly, eat healthy diet, avoid smoking and heavy drinking — and your visits to the doctor will surely be minimized. The healthier you are, the lesser you are represented as a risk for the insurance company.


2.    Shop for the best available price

One of the best options to keep your premium lowest is to go out and shop around for the health care policy. This will ensure that you find the best available policy that fits in your budget. Do a thorough research before investing in any policy. You can get information from your friends and relatives or even Internet.


3.    Take up plans with higher deductibles

Insurance plans with higher deductibles tend to have lower premiums. Typically, deductible is the amount you are expected to pay toward hospital, doctor, and other medical bills. Taking up a plan with a higher deductible may not be a universally applicable idea. If you’re generally healthy and do not fall ill very frequently, then you can take up this plan. This way you can keep your premium at a lower rate and avail basic health care facilities as well. But, if you have a history of some major consistent illness, avoid taking this plan.


4.    Take up a policy early in your life

The premium varies to a great extent with the age of the person. Try and get a policy as early in your life as you can. For example, if you buy a policy at the age of 25, then you’ll have to pay lesser premium but, if you go for the same policy at the age of 50 you’ll end up paying a raised premium amount.


5.    Get in touch with independent insurance agents

You can take help from independent insurance agents. These agents represent several insurance agencies and can guide you to pick the right kind of health insurance policy and then plan your premiums at an affordable rate. Since independent agents will compete to get the business – so you’ll get serious offers quickly.

Quickest ways to lower your Auto Insurance Premium

Are you looking for ways to lower your Auto Insurance Premium? Auto insurance rates can spiral depending upon factors that include your age, past driving record, and other factors such as credit history. However, the trick is to find ways to lower the annual pay-off. We have pulled up for you the 5 quickest ways to lower your Auto Insurance Premium.


Tip 1: Hike up your deductible

Stop trying to get the ‘lowest deductible’, instead go in for a comfortably higher out of pocket payment plan. ‘Deductible’ is the amount that you would pay before your insurance policy kicks in. This is an easy way to reduce your periodic premium amount, however, be warned, in such a case, if something happens to your vehicle - you need to shell out more to cover the initial expenses, prior to going in for a claim.


Tip 2: Park your vehicle in a garage

One of the simplest ways to cut down on insurance premium is to park your vehicle in a garage, personal or commercial establishments. This helps in knocking off, in some cases, close to 20% of the premium. In a garage, the chances of your vehicle getting stolen or sideswiped are considerably lower. From a transaction perspective, parking in a garage could mean a difference between a preferred rate and a standard rate.


Tip 3: Shop around and bargain  

Nothing beats the traditional ‘shop around to bargain’. Make sure you at least have three to four price quotes with you, prior to fixing on the service provider. Ensure that you are not shopping for price alone, but the whole deal.


Tip 4: Take a Defensive Driving Course

Not many people are aware of this. By volunteering for a state-approved defensive driving course, you can avail discounts in premium of up to 10%. However, do cross check with your insurer on this.


Tip 5: Downsizing Coverage

Well, downsizing coverage is perhaps the easiest way to lower your auto insurance premium. However, we suggest you to be careful and prudent, while taking this decision. This might save money, but, would also limit coverage.

How To Bargain Your Auto Insurance Quote

It was not too long ago when contracts were made on a handshake and a promise.  Individuals were not particularly concerned with things like insurance because they relied upon the goodwill of their neighbor to compensate them for wrongful damage.  For a variety of reasons, including an increase in the speed and cost of auto wrecks, auto insurance soon became an important purchase for responsible individuals.  Not long after, the federal government mandated that auto insurance be carried, at least minimally, by all car owners. The increase in the need for auto insurance over the last 10 years has led to increases in the complexity of insurance, while at the same time, amplifying the need to be more cost conscious in auto insurance purchases.


Buying auto insurance today requires as much dexterity as buying the automobile itself. It is important to know the factors that an auto insurance company considers when offering quotes. This will allow you, as the consumer, to know what steps you need to take in order to qualify for a lower quote. The five easy steps to a lower insurance quote are:

1.     Portray yourself as a ‘safe’ candidate: Insurance companies are interested in managing risk.  Consequently they offer drivers who are less likely to get into wrecks or at a minimum into wrecks of less severity, a lower insurance quote.

-Maintain a clean driving record, free of traffic violations or accident claims.

-Install anti-theft devices in your vehicle.

-Attend a Drivers Safety Training program.

-Buy a ‘safe’ vehicle. The National Highway Traffic Safety Administration (NHTSA) and The Insurance Institute for Highway Safety together collect information on safety related aspects of different vehicles. Buy an automobile that is officially designated as ‘safe’.

-Park your vehicle in a garage.


2.     Show your Credit worthiness: As a risk management entity, insurance companies are also worried about getting paid on time.  If you can show yourself to be credit worthy, there is less risk of you not making your payments on time, thus warranting a lower rate.

-Maintain a good credit score and clear up any errors on your credit.

-Cut down on the total number of outstanding credit cards to 2 or 3.


3. Practice Financial Wisdom: The way in which you structure and pay for your policy can lower the risk that an insurance company faces with respect to you as a customer.  By taking steps to lower their risk, you receive a lower insurance quote and policy.


-Buy an annual policy instead of a six monthly coverage to get you a lower rate that remains the same for a year.

-Opt for automatic payment deductions from your bank account or your credit card to avoid getting charged for mail payments.

-Increase your deductibles on comprehensive and collision policies to reduce on the rates.

-Get loyalty discounts by buying your home and auto insurance from the same company.


4. Assess your Insurance Needs accurately: This is obvious, the more coverage you get the more it will cost you.  Add-ons are killers in the insurance business, strip your policy down to just the minimum of what you need.


-If your vehicle is not used much or you have an old car with little market value, opt for minimum liability alone. It will cost you less.

-After fulfilling the legal mandate on auto insurance, insure according to your needs alone.


5.     Other wise things that you can do: There are a number of other considerations that go into your insurance quote.  Some of them are not reasonable steps to take, while others you can do with little effort which can translate into substantial savings.

-If your car is used only for a particular purpose, make your agent aware of it, as this will limit the cost.

-Students that make good grades are often eligible for a discount.

-Give up smoking; it can help you get better quotes.

-Change your occupation if you can help. A delivery boy carries a higher risk than a storekeeper.

Health Insurance Policies Fact In A Bad Economy

1. DOES YOUR PLAN COVER YOU ON AND OFF THE JOB?

Many health insurance plans have specific exclusions that eliminate your benefits for anything that could have been covered under Workers Compensation or similar laws. Now read that last sentence again.

COULD HAVE BEEN COVERED!?

That is correct. Most self employed people and even some small business owners do not carry Workers Comp on themselves.

There are designed insurance plans that will cover you on and off the job — 24-hours a day, if you are not required by law to have Workers Compensation coverage.

2. ARE YOU WRITING IT OFF?

Independent contractors (1099's), home based business owners, professionals and other self employed people generally are not taking advantages of the tax laws available to them.

Many people who are paying 100% of their own costs are eligible to deduct their monthly insurance payments. Just that alone can reduce your net out-of-pocket costs of a proper plan by as much as 40%. Ask your accounting professional if you are eligible and/or check out the IRS website for more information.

3. INTERNAL LIMITS
All true insurance plans use some form of internal controls to determine how much they will pay out for a particular procedure or service. There are two basic methods.

-Scheduled Benefits

Many plans, some of which are specifically marketed to self employed and independent people, have a clear schedule of what they will pay per doctor office visit, hospital stay, or even limits on what they will pay for testing per 24-hr. period. This structure is usually associated with "Indemnity Plans". If you are presented with one of these plans, be sure to see the schedule of benefits, in writing. It is important that you understand these type of limits up front because once you reach them the company will not pay anything over that amount.

-Usual and Customary

"Usual and Customary" refers to the rate of pay out for a doctor office visit, procedure or hospital stay that is based on what the majority of physicians and facilities charge for that particular service in that particular geographical or comparable area. "Usual and Customary" charges represent the highest level of coverage on most major medical plans.


4.YOU HAVE THE ABILITY TO SHOP!

If you are reading this you, are probably shopping for a health plan. Every day people shop, for everything from groceries to a new home. During the shopping process, generally, the value, price, personal needs and general marketplace gets evaluated by the buyer. With this in mind, it is very disconcerting that most people never ask what a test, procedure or even doctor visit will cost. In this ever-changing health insurance market, it will become increasingly important for these questions to be asked of our medical professionals. Asking price will help you get the most out of your plan and reduce your out-of-pocket expenses.

5. NETWORKS AND DISCOUNTS

Almost all insurance plans and benefit programs work with medical networks to access discounted rates. In broad strokes, networks consist of medical professionals and facilities who agree, by contract, to charge discounted rates for services rendered. In many cases the network is one of the defining attributes of your program. Discounts can vary from 10% to 60% or more. Medical network discounts vary, but to ensure you minimize your out-of-pocket expenses, it is imperative that you preview the network's list of physicians and facilities before committing. This is not only to ensure that your local doctors and hospitals are in the network, but also to see what your options would be if you were to need a specialist.

Ask your agent what network you are in, ask if it is local or national and then determine if it meets your own individual needs.