Life insurance is a contract between the policy owner and the insurance company, where the insurer agrees to pay a sum of money upon the occurrence of the policy owner's death. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals.
life assurance is a contract between the insurance company and the policy buyer whereby a benefit is paid to the designated Beneficiaries if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life/s of the people named in the policy.
Insured events that may be covered to include death and accidental death.
Life insurance may be divided into basic classification of temporary and permanent and may be sub classified into term, universal, whole life, variable, variable universal and endowment life insurance.
Term life insurance provides for life insurance coverage for a specified term of years for a specified premium.
Permanent life insurance is life insurance that remains in force until the policy matures or unless the policy owner fails to pay the premium when due.
life insurance is an easy way to protect your family and further more you can get great coverage at a price you can afford.
Life insurance offers financial protection for the family. You may think that you will not need life insurance when you are still single and young. One thing for sure is when you get a life insurance policy at a younger age; your cost of the premiums will be low.
But as you take on more responsibilities and your family grows, your need for life insurance increases. The proceeds from a life insurance policy can replace the income lost to your family upon your death. Life insurance to pay off debts and expenses, leave money to charity, and cover final and estate expenses and even double as a life long savings. You may able to cash out as and when you may need emergency cash. For this you will have to look closely to the terms and conditions as stated in your policies. Talk to an insurance agent or a financial planner for details advices.
Thursday, August 9, 2007
Personal Insurance
A personal insurance review is simply reviewing your insurance policies with your agent. This can be done by phone or in person. I feel it is always nice to do these in person. Meeting in person makes the review more personal and builds rapport with your agent. I recommend completing a personal insurance review every one to two years. There are several benefits to having a regular insurance review.
One benefit is that you may uncover discounts that you are eligible to receive. Insurance companies offer a variety of discounts to their policyholders, so you want to see that you are receiving all discounts available to you. One example of a discount that may be overlooked is the Good Student Discount. Most companies offer this discount, but the agent may not be aware that a child qualifies for the discount until an insurance review is done. Updating the electrical, heating, or plumbing on your home may provide you a discount on your home insurance; but your agent may not know that these updates have been done to your home until you have an insurance review. Personal insurance reviews are a great opportunity for you to discuss all discounts available with your agent.
A second benefit is to review the coverage on existing policies. Your situation may have changed since the policy was written and you may not need the same coverage as you did previously. One common situation is people that have vehicles on their policies for several years. Sometimes these vehicles still have full coverage, but the customer does not realize it. The age or condition of the vehicle may not warrant the additional premium for full coverage. Another common situation is people that still have very low deductibles on their home insurance. It was not uncommon to have $50, $100, or $250 deductible 15 to 20 years ago, but many times there is a significant savings in premium to raise the deductible. A personal insurance review is a great time to remove any coverage that may no longer be needed.
A third benefit is to locate any gaps in coverage. There are many areas where gaps can occur in your insurance program without you realizing it. Your life changes frequently and many of the changes may seem minor, but can have an effect on your insurance coverage. Some common changes that affect your insurance are updating a home can increase its value; having children may increase the need for life insurance; purchasing an expensive television or jewelry may require additional endorsements be added to your home insurance. Having an annual or bi-annual review helps to uncover areas where gaps in coverage may exist.
People are often hesitant to have an insurance review because they feel the sole purpose is for the agent to sell more insurance. However, the purpose of the insurance review is to make sure that the individual has the proper coverage in place for their situation. This is a benefit to the agent and the customer. The customer benefits by gaining a knowledge of their coverage and receiving the peace of mind that they are properly insured. The agent benefits by knowing their customers will have no gaps in coverage if a loss occurs.
It is important to have regular insurance reviews with your agent. The reviews make sure proper coverage is in place before a loss occurs and that you are paying the proper premium by taking full advantage of all discounts available.
One benefit is that you may uncover discounts that you are eligible to receive. Insurance companies offer a variety of discounts to their policyholders, so you want to see that you are receiving all discounts available to you. One example of a discount that may be overlooked is the Good Student Discount. Most companies offer this discount, but the agent may not be aware that a child qualifies for the discount until an insurance review is done. Updating the electrical, heating, or plumbing on your home may provide you a discount on your home insurance; but your agent may not know that these updates have been done to your home until you have an insurance review. Personal insurance reviews are a great opportunity for you to discuss all discounts available with your agent.
A second benefit is to review the coverage on existing policies. Your situation may have changed since the policy was written and you may not need the same coverage as you did previously. One common situation is people that have vehicles on their policies for several years. Sometimes these vehicles still have full coverage, but the customer does not realize it. The age or condition of the vehicle may not warrant the additional premium for full coverage. Another common situation is people that still have very low deductibles on their home insurance. It was not uncommon to have $50, $100, or $250 deductible 15 to 20 years ago, but many times there is a significant savings in premium to raise the deductible. A personal insurance review is a great time to remove any coverage that may no longer be needed.
A third benefit is to locate any gaps in coverage. There are many areas where gaps can occur in your insurance program without you realizing it. Your life changes frequently and many of the changes may seem minor, but can have an effect on your insurance coverage. Some common changes that affect your insurance are updating a home can increase its value; having children may increase the need for life insurance; purchasing an expensive television or jewelry may require additional endorsements be added to your home insurance. Having an annual or bi-annual review helps to uncover areas where gaps in coverage may exist.
People are often hesitant to have an insurance review because they feel the sole purpose is for the agent to sell more insurance. However, the purpose of the insurance review is to make sure that the individual has the proper coverage in place for their situation. This is a benefit to the agent and the customer. The customer benefits by gaining a knowledge of their coverage and receiving the peace of mind that they are properly insured. The agent benefits by knowing their customers will have no gaps in coverage if a loss occurs.
It is important to have regular insurance reviews with your agent. The reviews make sure proper coverage is in place before a loss occurs and that you are paying the proper premium by taking full advantage of all discounts available.
Compare Insurance
One thing that is certain in modern times is the fact that life has become uncertain. With terrorist activities on rise threat to life has indeed increased manifold. Then again the accident rate has also gone up alarmingly in recent times. Many cases reported proved to be fatal. This analysis points towards a simple fact that life has become very uncertain these days. And if something happens to the earning member of the family then one can very well understand the plight of the family.
To save one's family from this trauma it is always advisable to go for insurance which is a very good bet against all sorts of calamities. When it comes to insurance there are several insurance companies in UK who are rendering yeomen services and are playing a very appreciable part in bringing some sanity to one's life after the storm.
When it comes to insurance and insurance companies than one name that simply cannot be overlooked is that of Life Saver. It is a big name in UK and has earned a reputation for itself. It offers plenty of options to people who can choose the plan that suits them. Then whether it is life insurance or short-term insurance the consumer stands to get maximum benefit which is the philosophy that drives Life Saver.
Then there is Sanisbury's Bank, another heavy weight in the field of insurance. Its reputation is no less, neither is its policy behind any other insurance company. All its policies are aimed at providing maximum benefit to people. Since it is reputed to be extremely loyal to its clients, it must be added that it has carved a name for itself in the insurance sector.
There are however, other companies as well without the mention of which the whole debate on insurance companies would remain inconclusive. Companies like Tesco, Egg (Prudential), Hallfax etc. are also reputed names in the field of insurance sector and the ones who have won the respect of people.
Thus it becomes pretty clear that insurance is meant for the benefit of people and if they compare insurance deals before investing then there is no doubt that this would be a very wise decision on their part and an investment that they would be very pleased to make.
To save one's family from this trauma it is always advisable to go for insurance which is a very good bet against all sorts of calamities. When it comes to insurance there are several insurance companies in UK who are rendering yeomen services and are playing a very appreciable part in bringing some sanity to one's life after the storm.
When it comes to insurance and insurance companies than one name that simply cannot be overlooked is that of Life Saver. It is a big name in UK and has earned a reputation for itself. It offers plenty of options to people who can choose the plan that suits them. Then whether it is life insurance or short-term insurance the consumer stands to get maximum benefit which is the philosophy that drives Life Saver.
Then there is Sanisbury's Bank, another heavy weight in the field of insurance. Its reputation is no less, neither is its policy behind any other insurance company. All its policies are aimed at providing maximum benefit to people. Since it is reputed to be extremely loyal to its clients, it must be added that it has carved a name for itself in the insurance sector.
There are however, other companies as well without the mention of which the whole debate on insurance companies would remain inconclusive. Companies like Tesco, Egg (Prudential), Hallfax etc. are also reputed names in the field of insurance sector and the ones who have won the respect of people.
Thus it becomes pretty clear that insurance is meant for the benefit of people and if they compare insurance deals before investing then there is no doubt that this would be a very wise decision on their part and an investment that they would be very pleased to make.
Travel Insurance
Travel insurance is a good policy to consider if you plan to travel whether outside the country or inside. It helps you to be protected from any of the various emergencies that can come up while you're traveling. In fact, since you are traveling to a different place, you can come under a lot of situations which may require attention from the experts and the authorities. What can you do if you face a loss of baggage due to the negligence of the concerned authorities? Next to nothing except when you have a travel insurance because this insurance is designed to help you overcome any situation with a sufficient claim over the loss.
This insurance covers a wide range of things that can affect your life, such that you face no hassle abroad, where help may be difficult to come by otherwise. An insurance can give you the assurance of saving your monetary losses. It is easy to avail to this type of insurance as you can go online and find many insurers willing to serve you the same. Most policies also do not require any minimum age criteria.
If you are traveling by flight, you can avail to air Travel Insurance wherein you would be covered for lost luggage as well as flight or hotel room cancellation or any other such discrepancy which causes losses for you. Insurance for medical emergencies while traveling is the most common thing on anyone's mind. And there are special provisions for any accident or illness that strikes you during travel. Take care to read the policy thoroughly so that the terms and conditions are clear to you and you are not under any wrong notions and that you face no troubles while making the claims.
So you can avail to Travel Insurance to see to it that your travel is safe and you are in safe hands wherever you go and even if any untoward event occurs.
This insurance covers a wide range of things that can affect your life, such that you face no hassle abroad, where help may be difficult to come by otherwise. An insurance can give you the assurance of saving your monetary losses. It is easy to avail to this type of insurance as you can go online and find many insurers willing to serve you the same. Most policies also do not require any minimum age criteria.
If you are traveling by flight, you can avail to air Travel Insurance wherein you would be covered for lost luggage as well as flight or hotel room cancellation or any other such discrepancy which causes losses for you. Insurance for medical emergencies while traveling is the most common thing on anyone's mind. And there are special provisions for any accident or illness that strikes you during travel. Take care to read the policy thoroughly so that the terms and conditions are clear to you and you are not under any wrong notions and that you face no troubles while making the claims.
So you can avail to Travel Insurance to see to it that your travel is safe and you are in safe hands wherever you go and even if any untoward event occurs.
Endowment Plans
An endowment policy is a life assurance agreement proposed to pay a lump sum after a particular term or on earlier death. Endowments can be cashed in early - known as surrendered - and will then be paid the surrender value which is decided by the insurance company depending on how long the policy has been running and how much has been paid in to it.
For the duration of unfavorable investment circumstances, the encashment worth or surrender worth may be trim down by a 'Market Value Adjuster' to allow for the require to cash in units at a time when investment circumstances are not perfect. This means that the investor would take delivery of the surrender value less the market worth adjuster.
• An endowment policy is a mixture of insurance and investment: The life of the individual taking the policy is insured for a definite sum. This life cover is referred to as the sum assured. A definite part of the premium gets billed towards this sum assured. A quantity of portion of the premium is allocated towards the administrative operating cost of the insurance company selling the policy. The left over portion of the premium gets invested.
• An endowment policy might announce a bonus each year: The money that is invested produce a definite return each year. This return may be affirmed as a bonus. The bonus is characteristically generated as a definite proportion of sum assured or life cover as it is commonly recognized.
• The bonus affirmed is not to be paid right away: Like is the case with a stock dividend or a mutual fund dividend which is to be paid without delay after it is declared, the bonus affirmed build up and is to be paid only when the policy matures or in case the policy holder dies.
• The bonus declared does not multiple it, only accumulates
• Since the bonus declared does not compound returns are low
For the duration of unfavorable investment circumstances, the encashment worth or surrender worth may be trim down by a 'Market Value Adjuster' to allow for the require to cash in units at a time when investment circumstances are not perfect. This means that the investor would take delivery of the surrender value less the market worth adjuster.
• An endowment policy is a mixture of insurance and investment: The life of the individual taking the policy is insured for a definite sum. This life cover is referred to as the sum assured. A definite part of the premium gets billed towards this sum assured. A quantity of portion of the premium is allocated towards the administrative operating cost of the insurance company selling the policy. The left over portion of the premium gets invested.
• An endowment policy might announce a bonus each year: The money that is invested produce a definite return each year. This return may be affirmed as a bonus. The bonus is characteristically generated as a definite proportion of sum assured or life cover as it is commonly recognized.
• The bonus affirmed is not to be paid right away: Like is the case with a stock dividend or a mutual fund dividend which is to be paid without delay after it is declared, the bonus affirmed build up and is to be paid only when the policy matures or in case the policy holder dies.
• The bonus declared does not multiple it, only accumulates
• Since the bonus declared does not compound returns are low
Benefit of Insurance
Insurance exists long time ago where it was first to serve as a protection to the global trader’s goods against loss due to pirate attacks in the sea. The insurance company during that period of time will bear all the losses of the unfortunate traders using the money it has gathered from other participating traders in order to help the unfortunate traders.
The purpose of insurance in a general term is mainly to help the unfortunate one by using some portion of the collected/pooled money to compensate whatever amount of loss to the victim. With this method, many of the unfortunate victims can carry on with their daily lives immediately without having to worry about other financial obligations.
There are many classes of insurance available through out the world. Each country has its own meaning and definition of each insurance class. However, I am not going to elaborate on the different meaning by each country. What I am about to discuss here mainly on the general factors and the benefit it could bring to each individual life in this world.
Property Insurance / Fire Insurance
Fire Insurance is an insurance which protects the Insured’s (person who buys the insurance policy) property from any disaster or unfortunate event due to or caused by basic fire & lightning or other perils such as Aircraft Damage, Earthquake and Volcanic Eruption, Storm, Tempest, Flood, Explosion, Impact Damage, Bursting or Overflowing of Water Tanks Apparatus or Pipes, Electrical Installations, Bush Fire, Subsidence and Landslip/Landslide, Spontaneous Combustion, Riot Strike and Malicious Damage, Damage By Falling Trees or Branches and Objects Therefrom, and/or even a Cold Storage.
If any of these perils has caused the fire on each property building, the Insured therefore has the right to make a claim against the Insurance Company where the policy is written.
Why it is so important for you to take up Fire Insurance for your property/properties? It is because the benefit it offers is huge. As you can see above, the Fire Insurance policy not only covers fire but also other perils such as Damage by Falling Trees!
So learn the benefits this Fire Insurance can offer to you and start insuring your property immediately. Remember, prevention is better than cure.
Houseowner/Householder Insurance
Similar with Fire Insurance policy, the Houseowner/Householder Insurance mainly covers the property you have against theft, fire, and also flood (depends on the extended perils you may add). Instead protecting the building, Householder Insurance covers all the belongings inside your property such as your HiFi, Plasma TV, Sofas, Kitchen Cabinet, Expensive Vases, Expensive Sculpture, and many more.
Some people only take up Fire Insurance but forgetting about the household items which could be higher than the property itself.
So my suggestion is, whenever you buy Fire Insurance policy from your insurance provider, try asking about the Householder/Houseowner Insurance as well. Make it as add on item in your Fire Insurance policy.
Motor Insurance
Motor Insurance policy or some states called it as Vehicle Insurance policy is vital and a must have policy for car/vehicle owner to own.
Motor Insurance covers any mobile items ranging from its cubic capacity, model, type, and usage of each vehicle. Normally, a lower cubic capacity engine vehicle will bear a lower premium amount if to compare with a higher cubic capacity engine.
As for motor sport vehicle or high performance race car, other types of Motor Insurance will apply and normally the premium rate is much higher than other normal vehicle.
In general, Motor Insurance policy covers the insured against loss or damage to his/her own vehicle and the third party vehicle.
In addition, some insurance providers do add PA (Personal Accident) Insurance policy in the Motor Insurance policy to add value as well as to satisfy their customers’ needs.
Travel Insurance / Travel PA
It’s a must have insurance policy especially for travelers. The policy coverage can be for one day trip or to a month trip depending on the purpose of the Insured.
Why a travel insurance?
Travel insurance can protect the insured from loss due to flight delay, where some insurance providers will compensate the Insured with the unavoidable factors like this. Some Travel Insurance also covers the insured against loss of baggage, hospitalization, accident, or other misfortune depending on each insurance provider.
Summary
I urge every one of you to have awareness on the benefit of insurance and get use to it by buying at least one insurance product for your household. To recap, there are four (4) type of insurance in this part I article which are; Fire Insurance, Householder Insurance, Motor Insurance, and Travel Insurance.
In my next article on “The Benefit of Insurance (Part II)”, I will elaborate on the Electronic Equipment Insurance, Machinery Insurance, Burglary Insurance, and Marine Insurance.
Till then, enjoy reading and wait for my other upcoming articles.
The purpose of insurance in a general term is mainly to help the unfortunate one by using some portion of the collected/pooled money to compensate whatever amount of loss to the victim. With this method, many of the unfortunate victims can carry on with their daily lives immediately without having to worry about other financial obligations.
There are many classes of insurance available through out the world. Each country has its own meaning and definition of each insurance class. However, I am not going to elaborate on the different meaning by each country. What I am about to discuss here mainly on the general factors and the benefit it could bring to each individual life in this world.
Property Insurance / Fire Insurance
Fire Insurance is an insurance which protects the Insured’s (person who buys the insurance policy) property from any disaster or unfortunate event due to or caused by basic fire & lightning or other perils such as Aircraft Damage, Earthquake and Volcanic Eruption, Storm, Tempest, Flood, Explosion, Impact Damage, Bursting or Overflowing of Water Tanks Apparatus or Pipes, Electrical Installations, Bush Fire, Subsidence and Landslip/Landslide, Spontaneous Combustion, Riot Strike and Malicious Damage, Damage By Falling Trees or Branches and Objects Therefrom, and/or even a Cold Storage.
If any of these perils has caused the fire on each property building, the Insured therefore has the right to make a claim against the Insurance Company where the policy is written.
Why it is so important for you to take up Fire Insurance for your property/properties? It is because the benefit it offers is huge. As you can see above, the Fire Insurance policy not only covers fire but also other perils such as Damage by Falling Trees!
So learn the benefits this Fire Insurance can offer to you and start insuring your property immediately. Remember, prevention is better than cure.
Houseowner/Householder Insurance
Similar with Fire Insurance policy, the Houseowner/Householder Insurance mainly covers the property you have against theft, fire, and also flood (depends on the extended perils you may add). Instead protecting the building, Householder Insurance covers all the belongings inside your property such as your HiFi, Plasma TV, Sofas, Kitchen Cabinet, Expensive Vases, Expensive Sculpture, and many more.
Some people only take up Fire Insurance but forgetting about the household items which could be higher than the property itself.
So my suggestion is, whenever you buy Fire Insurance policy from your insurance provider, try asking about the Householder/Houseowner Insurance as well. Make it as add on item in your Fire Insurance policy.
Motor Insurance
Motor Insurance policy or some states called it as Vehicle Insurance policy is vital and a must have policy for car/vehicle owner to own.
Motor Insurance covers any mobile items ranging from its cubic capacity, model, type, and usage of each vehicle. Normally, a lower cubic capacity engine vehicle will bear a lower premium amount if to compare with a higher cubic capacity engine.
As for motor sport vehicle or high performance race car, other types of Motor Insurance will apply and normally the premium rate is much higher than other normal vehicle.
In general, Motor Insurance policy covers the insured against loss or damage to his/her own vehicle and the third party vehicle.
In addition, some insurance providers do add PA (Personal Accident) Insurance policy in the Motor Insurance policy to add value as well as to satisfy their customers’ needs.
Travel Insurance / Travel PA
It’s a must have insurance policy especially for travelers. The policy coverage can be for one day trip or to a month trip depending on the purpose of the Insured.
Why a travel insurance?
Travel insurance can protect the insured from loss due to flight delay, where some insurance providers will compensate the Insured with the unavoidable factors like this. Some Travel Insurance also covers the insured against loss of baggage, hospitalization, accident, or other misfortune depending on each insurance provider.
Summary
I urge every one of you to have awareness on the benefit of insurance and get use to it by buying at least one insurance product for your household. To recap, there are four (4) type of insurance in this part I article which are; Fire Insurance, Householder Insurance, Motor Insurance, and Travel Insurance.
In my next article on “The Benefit of Insurance (Part II)”, I will elaborate on the Electronic Equipment Insurance, Machinery Insurance, Burglary Insurance, and Marine Insurance.
Till then, enjoy reading and wait for my other upcoming articles.
Types of Travel Insurance
An insurance covering all your travel surfing becomes necessary when you are travelling abroad. Even in some cases, if you are in your domestic locations, it is important that your trips are covered by an insurance putting your all worries off. Travel insurance is such an insurance scheme which is specially meant to give you a good cover when you are travelling abroad or any domestic location.
Travel insurance is of four types. But it is not that each of the insurance policies are suitable to everybody's insurance need. Knowing which insurance type is best suited to you is in need before you finally buy an insurance. Trip cancellation insurance, Baggage insurance, Emergency medical insurance and Accidental death insurance are the four types of insurance meant to give you a good cover when you are on a trip.
Tip cancellation insurance reimburse you if the plane/cruise on which you are supposed to travel goes out of their business. If you miss the flight caused by your mistakes, you will not get any cover and compensation. But if the trip is cancelled because of illness, death of any kin or any other valid serious reason, you will get the compensation. Baggage insurance covers if you get your luggage stolen/lost/damaged on the tour. Emergency medical assistance insurance protects you when you are on adventurous tour which includes activities like skiing and trekking. Even it will cover you if you get seriously ill during the tour.
The fourth and last type of Travel Insurance is Accidental death insurance, which covers your life. The insurance will compensate your family member if you meet an accidental death on the tour. Thus knowing well about the four types of insurance, which cover you when you are travelling, help you in having a good deal while planning to buy an insurance.
Travel insurance is of four types. But it is not that each of the insurance policies are suitable to everybody's insurance need. Knowing which insurance type is best suited to you is in need before you finally buy an insurance. Trip cancellation insurance, Baggage insurance, Emergency medical insurance and Accidental death insurance are the four types of insurance meant to give you a good cover when you are on a trip.
Tip cancellation insurance reimburse you if the plane/cruise on which you are supposed to travel goes out of their business. If you miss the flight caused by your mistakes, you will not get any cover and compensation. But if the trip is cancelled because of illness, death of any kin or any other valid serious reason, you will get the compensation. Baggage insurance covers if you get your luggage stolen/lost/damaged on the tour. Emergency medical assistance insurance protects you when you are on adventurous tour which includes activities like skiing and trekking. Even it will cover you if you get seriously ill during the tour.
The fourth and last type of Travel Insurance is Accidental death insurance, which covers your life. The insurance will compensate your family member if you meet an accidental death on the tour. Thus knowing well about the four types of insurance, which cover you when you are travelling, help you in having a good deal while planning to buy an insurance.
Car Insurance
The increased uncertainty in everybody's life has made insurance an important service to avail. Be it insurance for one's life, one's property or even for one's car, the insurance is today a necessity that is meant to make one to bear any misfortune easily. As cars as well as its accidents have become an important part of our everyday life, insuring it is much in demand today by all car owners.
But availing an insurance for your car comes at a cost which is often high. The higher cost of car insurance put many car owners devoid of any insurance. But, as it has become mandatory in UK for everyone having cars to have an insurance, the number of people looking for a cheap car insurance is increasing. You may find several of insurance companies claiming to you to give you a car insurance at cheap rate. The important question is, do they really care about giving you an insurance for your car at cheap rate?
Some tips regarding how you can avail a car insurance at cheap rate can help you greatly in picking a good insurance. The first thing that you ought to think of is about the type of car you have. Some car models will let you pay higher premium amount against availing the insurance. Thus being careful while you are buying a new or old car is necessary. The second and one of the most important facts you have to consider is safe driving. If in previous year, you have paid 2 speeding fines, and have met 2 accidents, you will be not be allowed to avail a car insurance at cheap rate.
The another important step which you have to take up while buying a car insurance is to choose a good insurance company to get the deal. Finding an insurance which may give you a good deal for Cheap Car Insurance becomes easier by doing some online research. Besides, before you finally sign the deal, read all their policies thoroughly, and ask them wherever you have a query.
But availing an insurance for your car comes at a cost which is often high. The higher cost of car insurance put many car owners devoid of any insurance. But, as it has become mandatory in UK for everyone having cars to have an insurance, the number of people looking for a cheap car insurance is increasing. You may find several of insurance companies claiming to you to give you a car insurance at cheap rate. The important question is, do they really care about giving you an insurance for your car at cheap rate?
Some tips regarding how you can avail a car insurance at cheap rate can help you greatly in picking a good insurance. The first thing that you ought to think of is about the type of car you have. Some car models will let you pay higher premium amount against availing the insurance. Thus being careful while you are buying a new or old car is necessary. The second and one of the most important facts you have to consider is safe driving. If in previous year, you have paid 2 speeding fines, and have met 2 accidents, you will be not be allowed to avail a car insurance at cheap rate.
The another important step which you have to take up while buying a car insurance is to choose a good insurance company to get the deal. Finding an insurance which may give you a good deal for Cheap Car Insurance becomes easier by doing some online research. Besides, before you finally sign the deal, read all their policies thoroughly, and ask them wherever you have a query.
Compare Insurance
There can be no denying the fact that life in today's times has not only gained furious pace but has also become highly unpredictable. The need for insurance therefore cannot be ruled out. It is a very potent weapon with which to fight uncertainty. Indeed insurance is like a lighthouse that pierces through the blanket of darkness.
The biggest advantage of insurance is that the party concerned do not have to waste even a single penny and the loss is entirely borne by the insurance company. There are various types of insurance available and it really depends on the individual as to which insurance cover would he like to opt.
For example there are insurance cover available for vehicles. These act like security cover for vehicles against threats like theft, accidents etc. All that the aspirant requires to do is to pay a fixed amount as premium which would make him eligible to make insurance claim for any damage done to his vehicle.
Other type of insurance is building insurance that ensures building's safety against fire, burglary, riot, flood etc. In this insurance also in case of any damage done to building all the expenses are borne by the insurance companies.
Medical insurance is the other type of insurance which covers the health of people. If one undergoes operation or suffers from some major illness then again insurance companies bear all the expenses.
The most common type of insurance and which is availed by almost everyone is life insurance. Under this if a person dies then the entire amount of policy is given to the deceased person's family. It can very easily be understood what a relief it would be for the person's family. Its popularity therefore can easily be understood.
It therefore must be kept into mind that there are various types of insurances available and all of them are aimed at peoples welfare. However one would do well to do a thorough comparison between various insurances on offer. One would also do well to thoroughly understand his needs and then decide as to which type of insurance would be best suited to him.
One would also do well to thoroughly understand the clauses mentioned in the policy. It is very important for any misunderstanding here can lead to unnecessary complication later. If proper care is taken while opting for insurance and thorough attention is paid towards understanding its conditions then there is no reason why insurance will not prove to be of immense value to its holders.
The biggest advantage of insurance is that the party concerned do not have to waste even a single penny and the loss is entirely borne by the insurance company. There are various types of insurance available and it really depends on the individual as to which insurance cover would he like to opt.
For example there are insurance cover available for vehicles. These act like security cover for vehicles against threats like theft, accidents etc. All that the aspirant requires to do is to pay a fixed amount as premium which would make him eligible to make insurance claim for any damage done to his vehicle.
Other type of insurance is building insurance that ensures building's safety against fire, burglary, riot, flood etc. In this insurance also in case of any damage done to building all the expenses are borne by the insurance companies.
Medical insurance is the other type of insurance which covers the health of people. If one undergoes operation or suffers from some major illness then again insurance companies bear all the expenses.
The most common type of insurance and which is availed by almost everyone is life insurance. Under this if a person dies then the entire amount of policy is given to the deceased person's family. It can very easily be understood what a relief it would be for the person's family. Its popularity therefore can easily be understood.
It therefore must be kept into mind that there are various types of insurances available and all of them are aimed at peoples welfare. However one would do well to do a thorough comparison between various insurances on offer. One would also do well to thoroughly understand his needs and then decide as to which type of insurance would be best suited to him.
One would also do well to thoroughly understand the clauses mentioned in the policy. It is very important for any misunderstanding here can lead to unnecessary complication later. If proper care is taken while opting for insurance and thorough attention is paid towards understanding its conditions then there is no reason why insurance will not prove to be of immense value to its holders.
Term Insurance
Term assurance is a type of temporary insurance. It is applicable only for a a limited time-period or the term. For example, the term might be until children are grown, or until college is paid for, or until retirement. You pay the premium for the period until which the policy applies and after which it expires. And thus no benefits can be derived after the expiry of the policy. As contrary to term assurance, there is also something as permanent insurance which covers the whole lifetime.
The major goal behind devising this scheme is to cater to people with limited budget and to provide insurance on a temporary basis, when whole life insurance may be out of budget. The main benefit is that this scheme can be bought for a large amount at a small initial premium, and they are also adjustable according to projected changes of investment earnings. This renders this scheme as suitable for short-range goals, such as providing extra life insurance protection during child-raising years. This assurance policy is found to be more suitable for young families who have large financial obligations.
Premiums being low, a term assurance policy gets you good coverage for the term decided upon. Most insurance products are sold through independent agents who may be representing several companies. They can help you to choose from a variety of insurance products. You can also log on to the internet to search for online How Health Insurance Covers Your agents. This proves to be a faster and easier means to avail to this product.
Select the right agent who has some market reputation and those who are well-experienced in fields such as medical insurance so that they can guide you and serve you well with a policy of a reliable insurance company. The main thing you should take care of and also that which is the purpose of all this exercise is that all your insurance claims should be settled without any hassles for you.
The author is associated with UK’s leading healthcare and medical insurance broker, Essential Health Ltd, which provides medical benefits, to its clients in UK and around the world, for Cancer, Medical insurance, Travel insurance, Sickness insurance, Financial protection, Life, Term Assurance, Accident Insurance, Healthcare, Health insurance and even dental insurance. She writes on various topics and latest news related to medical, insurance and most importantly on Cancer and latest developments related to its treatment.
The major goal behind devising this scheme is to cater to people with limited budget and to provide insurance on a temporary basis, when whole life insurance may be out of budget. The main benefit is that this scheme can be bought for a large amount at a small initial premium, and they are also adjustable according to projected changes of investment earnings. This renders this scheme as suitable for short-range goals, such as providing extra life insurance protection during child-raising years. This assurance policy is found to be more suitable for young families who have large financial obligations.
Premiums being low, a term assurance policy gets you good coverage for the term decided upon. Most insurance products are sold through independent agents who may be representing several companies. They can help you to choose from a variety of insurance products. You can also log on to the internet to search for online How Health Insurance Covers Your agents. This proves to be a faster and easier means to avail to this product.
Select the right agent who has some market reputation and those who are well-experienced in fields such as medical insurance so that they can guide you and serve you well with a policy of a reliable insurance company. The main thing you should take care of and also that which is the purpose of all this exercise is that all your insurance claims should be settled without any hassles for you.
The author is associated with UK’s leading healthcare and medical insurance broker, Essential Health Ltd, which provides medical benefits, to its clients in UK and around the world, for Cancer, Medical insurance, Travel insurance, Sickness insurance, Financial protection, Life, Term Assurance, Accident Insurance, Healthcare, Health insurance and even dental insurance. She writes on various topics and latest news related to medical, insurance and most importantly on Cancer and latest developments related to its treatment.
Travel Insurance
You can have insurance for everything that you feel is precious enough to be protected. Life is so uncertain with many unplanned events that barge in to cause losses. So you never know when you might need insurance to cover the heavy expenses that come up. Accident insurance comes under this category of events where you might face the prospect of injury and monetary losses.
On another insurance on similar lines is the travel insurance. This is a known fact that the chances of mishaps increase when you are traveling because you are moving out of the safety of your house. This insurance ensures then that in case of any contingency, especially more important when you are in a foreign country in unknown surroundings, you face no trouble during the trip.
Travel insurance also covers losses faced due to delayed flights or hotel room cancellation owing to the same. This insurance is thus designed in a way that your trip is enjoyable and trouble-free. An insurance cover takes care of your worries, whatever you may have, while traveling.
For it then becomes the responsibility of the company to compensate for whatever losses you might face during the journey. People usually forget that traveling means fun but it it also means exposure to unknown vectors that can cause you harm. This can be appreciated by anyone who has faced any problems before while traveling. Assistance by way of coverage can be a great relief to anyone. And much more so, when you do not have relatives or friends in the place you are traveling to. But suppose your vehicle breaks down in the middle of nowhere and you are left stranded in a strange place where people do not speak the same language as you, what can bale you out is a Travel Insurance. With this protection now, you can travel without any fear or worry.
On another insurance on similar lines is the travel insurance. This is a known fact that the chances of mishaps increase when you are traveling because you are moving out of the safety of your house. This insurance ensures then that in case of any contingency, especially more important when you are in a foreign country in unknown surroundings, you face no trouble during the trip.
Travel insurance also covers losses faced due to delayed flights or hotel room cancellation owing to the same. This insurance is thus designed in a way that your trip is enjoyable and trouble-free. An insurance cover takes care of your worries, whatever you may have, while traveling.
For it then becomes the responsibility of the company to compensate for whatever losses you might face during the journey. People usually forget that traveling means fun but it it also means exposure to unknown vectors that can cause you harm. This can be appreciated by anyone who has faced any problems before while traveling. Assistance by way of coverage can be a great relief to anyone. And much more so, when you do not have relatives or friends in the place you are traveling to. But suppose your vehicle breaks down in the middle of nowhere and you are left stranded in a strange place where people do not speak the same language as you, what can bale you out is a Travel Insurance. With this protection now, you can travel without any fear or worry.
Insurance Clients
Working with different people and dealing with them through phone calls don’t have to be something you should only do because you need to and because you haven’t had the chance to introduce your insurance business to this particular person.
Taking care of your incoming prospects and existing customers doesn’t only end as soon as they hire you and your services. You need to continually operate as a good insurance provider and agent for them. They also need to know necessary notices (new ones are most important); don’t wait until they ask so they won’t feel unimportant nor ignored at all. Also, never wait for them to ask or inquire about something very important because this will only make them think that you are not disclosing necessary information.
At all cost, go out of your way to check on your clients and let them know that they are remembered. Doing means for your insurance clients also help your insurance business increase its popularity and credibility. A simple postcard informing them to check out your site and anything that is new in it can already make them realize that they are one of the active customers that you value. And it also adds good standing for your insurance website.
Another step you can try in reaching out to your clients is to distribute survey forms to them. This way, you’d have an idea how well you’re performing as an insurance agent and how your service is affecting them. Are you getting positive ratings or the opposite? It’s convenient, though, to realize things like this because it’s a subtle way of knowing your standing.
As for your special offers, you don’t have to wait forever for existing clients or prospects to accidentally drop by your website. You can send off special promo offers by snail mail. Flyers or brochures are best for this purpose. While you’re at it, you can also try delivering these things yourself. Keep in mind that this isn’t going to be a regular routine but just a seasonal trend to help your business grow. Of course you can stretch this condition. If you think your customers (who are your best prospects) deserve more than flyers; go ahead and give something that can make them smile.
Taking care of your incoming prospects and existing customers doesn’t only end as soon as they hire you and your services. You need to continually operate as a good insurance provider and agent for them. They also need to know necessary notices (new ones are most important); don’t wait until they ask so they won’t feel unimportant nor ignored at all. Also, never wait for them to ask or inquire about something very important because this will only make them think that you are not disclosing necessary information.
At all cost, go out of your way to check on your clients and let them know that they are remembered. Doing means for your insurance clients also help your insurance business increase its popularity and credibility. A simple postcard informing them to check out your site and anything that is new in it can already make them realize that they are one of the active customers that you value. And it also adds good standing for your insurance website.
Another step you can try in reaching out to your clients is to distribute survey forms to them. This way, you’d have an idea how well you’re performing as an insurance agent and how your service is affecting them. Are you getting positive ratings or the opposite? It’s convenient, though, to realize things like this because it’s a subtle way of knowing your standing.
As for your special offers, you don’t have to wait forever for existing clients or prospects to accidentally drop by your website. You can send off special promo offers by snail mail. Flyers or brochures are best for this purpose. While you’re at it, you can also try delivering these things yourself. Keep in mind that this isn’t going to be a regular routine but just a seasonal trend to help your business grow. Of course you can stretch this condition. If you think your customers (who are your best prospects) deserve more than flyers; go ahead and give something that can make them smile.
Unnecessary Insurance
Insurance is one of the necessary evils we face in this great country and we all surely pay too much for this service. There are hundreds of different combinations of insurance and each person needs to make sure that their policies are working in their best interest and not just making the insurance company a fortune.
The three main forms of insurance are health, automobile and homeowners. Each policy has different rules and procedures and you can get these three from thousands of insurance companies. The one thing they all have in common is that you are probably paying too much for your coverage.
Auto InsuranceCoverage You Need:1. Liability- this covers bodily injury and property damage that may occur during an automobile accident that is your fault.2. Comprehensive- pays for any damage that may occur to your automobile that is not the result of an accident, i.e. fire, fallen tree.3. Collision- covers any damage to yours and any others vehicle in the result of an accident.
Coverage You Don’t Need:1. No fault (PIP)2. Medical Payments3. Uninsured Motorist4. Emergency Road Service5. Car Rental Expense6. Death/Dismemberment7. Specialty Coverage (glass, audio equipment)
You do not need the first three of these coverages because they are covered by your health insurance. Emergency road service and car rental expenses are rarely if ever used and are not worth paying the extra premium for. Death/Dismemberment are covered under your health and life insurance. Specialty coverage is not worth the extra premium as they are generally not costly to pay out of pocket.
Look at your current auto insurance policy and make sure you are not paying for these extra services you do not need.
Homeowner’s InsuranceDecline this additional coverage:1. Removal of Debris- In the event of a disaster involving your home, this will pay up to a certain amount to remove the debris. Unless you live in an area that is endangered often, this is an unnecessary addition to your premium.2. Damaged Property Removal- This coverage is pretty much the same as the first one and is really not necessary.3. Fire Department Surcharges- This coverage will pay the fire department bill in the event your house catches on fire. Unless you are planning on your house burning often, this extra is not needed.4. Temporary Repairs to Prevent Further Damage to Property- If a tree falls through your roof, this will pay for repairs to ensure your home will not be damaged further. Again this is coverage that will almost never be used but you continue to pay for each year.5. Trees, Shrubs and Plants- This will cover the cost of your landscaping in case of fire or disaster, however, this will not cover landscaping in the event of a natural disaster. So basically, your house would have to burn your plants and trees for this coverage to kick in.6. Stolen Credit Cards- With so much protection by credit card companies today it is unnecessary to protect your cards with insurance.
Make sure you look over all your insurance policies and find out if you are paying for all these useless coverages. You could easily reduce your yearly insurance bills by the hundreds just by knowing what coverage you need and what you don’t.
The three main forms of insurance are health, automobile and homeowners. Each policy has different rules and procedures and you can get these three from thousands of insurance companies. The one thing they all have in common is that you are probably paying too much for your coverage.
Auto InsuranceCoverage You Need:1. Liability- this covers bodily injury and property damage that may occur during an automobile accident that is your fault.2. Comprehensive- pays for any damage that may occur to your automobile that is not the result of an accident, i.e. fire, fallen tree.3. Collision- covers any damage to yours and any others vehicle in the result of an accident.
Coverage You Don’t Need:1. No fault (PIP)2. Medical Payments3. Uninsured Motorist4. Emergency Road Service5. Car Rental Expense6. Death/Dismemberment7. Specialty Coverage (glass, audio equipment)
You do not need the first three of these coverages because they are covered by your health insurance. Emergency road service and car rental expenses are rarely if ever used and are not worth paying the extra premium for. Death/Dismemberment are covered under your health and life insurance. Specialty coverage is not worth the extra premium as they are generally not costly to pay out of pocket.
Look at your current auto insurance policy and make sure you are not paying for these extra services you do not need.
Homeowner’s InsuranceDecline this additional coverage:1. Removal of Debris- In the event of a disaster involving your home, this will pay up to a certain amount to remove the debris. Unless you live in an area that is endangered often, this is an unnecessary addition to your premium.2. Damaged Property Removal- This coverage is pretty much the same as the first one and is really not necessary.3. Fire Department Surcharges- This coverage will pay the fire department bill in the event your house catches on fire. Unless you are planning on your house burning often, this extra is not needed.4. Temporary Repairs to Prevent Further Damage to Property- If a tree falls through your roof, this will pay for repairs to ensure your home will not be damaged further. Again this is coverage that will almost never be used but you continue to pay for each year.5. Trees, Shrubs and Plants- This will cover the cost of your landscaping in case of fire or disaster, however, this will not cover landscaping in the event of a natural disaster. So basically, your house would have to burn your plants and trees for this coverage to kick in.6. Stolen Credit Cards- With so much protection by credit card companies today it is unnecessary to protect your cards with insurance.
Make sure you look over all your insurance policies and find out if you are paying for all these useless coverages. You could easily reduce your yearly insurance bills by the hundreds just by knowing what coverage you need and what you don’t.
UK Life Insurance
Life insurance policies are no longer restricted to mere health and accident criteria. Today, a life insurance policy acts as insurance to life and assurance for life. The life insurance companies provide the prospective clients with all-round life insurance packages favorable to meet their situations. These whole life insurance policies cover death as well as critical illness cases that were absent from the earlier accounts.
Keeping up with the demands of the age, the U.K. life insurance companies have come up with host of different life insurance policies. Each life insurance covers innovative solutions to meet the need to cover individual situations. Most of U.K. based life insurance companies provide various types of life insurance policies including mortgage protection, term life insurance and critical illness insurance. With variable options the life insurer can make the most of his term assurance from his policy. Moreover, he has the freedom to select a cheap life insurance to suit his budget without abiding by the constraints of earlier laws.
In U.K., life insurance policy providing companies have often been associated with the villainous reputation for bidding higher premiums and rate of interest. But times have changed. Today they offer value added services to the clients seeking advice along with life insurance policy. The life insurance companies in U.K. have come up with simple and convenient method to communicate with the public. The online life insurance information contains all the necessary details for filling a personal life insurance cover. It helps the individual to decide and organize his thoughts before closing the life insurance deal.
Moreover, most of the U.K. based life insurance companies give out online life insurance consultation without charging any fees. These online life insurance consultations are available around the clock for any advice seeking party. In most the cases, the approaching party has to register online but closing a deal with the same company is not obligatory.
Some of the important information that would help to select the preferable life insurance policy is life insurance quote and rates. With the facility to compare life insurance quotes online it becomes easier to choose the low cost life insurance. There are innumerable packages to suit everyone’s budget without compromising for a cheap life cover. Although it sounds as a very cost saving idea, the cheap life covers barely provide the same facilities or services. Moreover, they often cut high cost from the commissions and tend to delay the money giving procedure.
Every life insurer must, therefore, take precautions before falling for a discount life insurance policy. They should sign the deal only with the highly reputed life insurance organizations in U.K. These organizations often invite the clients to enjoy benefits from occasional discount on life insurance policies. It would be a wise decision to conduct a personal market survey of the various life insurance policies in U.K.
Keeping up with the demands of the age, the U.K. life insurance companies have come up with host of different life insurance policies. Each life insurance covers innovative solutions to meet the need to cover individual situations. Most of U.K. based life insurance companies provide various types of life insurance policies including mortgage protection, term life insurance and critical illness insurance. With variable options the life insurer can make the most of his term assurance from his policy. Moreover, he has the freedom to select a cheap life insurance to suit his budget without abiding by the constraints of earlier laws.
In U.K., life insurance policy providing companies have often been associated with the villainous reputation for bidding higher premiums and rate of interest. But times have changed. Today they offer value added services to the clients seeking advice along with life insurance policy. The life insurance companies in U.K. have come up with simple and convenient method to communicate with the public. The online life insurance information contains all the necessary details for filling a personal life insurance cover. It helps the individual to decide and organize his thoughts before closing the life insurance deal.
Moreover, most of the U.K. based life insurance companies give out online life insurance consultation without charging any fees. These online life insurance consultations are available around the clock for any advice seeking party. In most the cases, the approaching party has to register online but closing a deal with the same company is not obligatory.
Some of the important information that would help to select the preferable life insurance policy is life insurance quote and rates. With the facility to compare life insurance quotes online it becomes easier to choose the low cost life insurance. There are innumerable packages to suit everyone’s budget without compromising for a cheap life cover. Although it sounds as a very cost saving idea, the cheap life covers barely provide the same facilities or services. Moreover, they often cut high cost from the commissions and tend to delay the money giving procedure.
Every life insurer must, therefore, take precautions before falling for a discount life insurance policy. They should sign the deal only with the highly reputed life insurance organizations in U.K. These organizations often invite the clients to enjoy benefits from occasional discount on life insurance policies. It would be a wise decision to conduct a personal market survey of the various life insurance policies in U.K.
Need of Insurance
There was a time when life insurance policy brokers were hardly welcomed as a friend. The mere appearance of a policy broker was treated with suspicious eyes. They were not enemies but someone who was not worthy of friendship as far as personal insurance was concerned. Days have changed. Now an insurance consultant like me is as welcome as a lawyer or a doctor in need, to the clients. The only difference between these professions is that you need an insurance agent even before you can predict something.
However, do you really need an insurance agent to work things out for you! Certainly not! You can easily do it yourself if you know certain things and can calculate meticulously. You just need to have the patience to move from one company to another to gather information on available policies.
Let us put down how you can plan your own insurance – yourself:
1) There is no dilemma on the issue that you need insurance, but you need to decide what type of insurance you need.
2) When you are sure of the type of insurance that will help you the most in future, depending on your present financial condition, contact a few well-known insurance companies and ask them life insurance quotes.
3) Search a little bit further and you will surely find something that will best suit your purpose. You can select from insurance policies from broad categories like:
a) A policy that pays out lump sum after the policy holder’s death
b) A policy that pays out lump sum or adds to the income if the policyholder is critically ill or cannot work due to illness or accident
c) You can also look for a family life insurance, mortgage life insurance and mortgage protection, income protection or an unemployment cover depending on your need
4) Selecting the best life insurance policy is the most crucial part of the whole process. As you are doing it yourself without any prior knowledge of present insurance market and available policies, the process may even take months before you can come to any decision.
5) If you are late to start an insurance policy, the premium may be a bit high. Calculate the premium, payment dates, return on investment and others to get a clear view of what is awaiting you in the future.
6) While deciding the premium amount, don’t just depend on your present financial condition. Before signing the document, be sure that you can pay the premium till the end without disturbing a healthy lifestyle. Saving for future is good and necessary but an excess of it is not a healthy sign.
7) Read the offer document carefully before signing and submitting the document. Alternatively, you can contact some reliable UK based online life insurance brokers to compare different life insurance policies.
However, do you really need an insurance agent to work things out for you! Certainly not! You can easily do it yourself if you know certain things and can calculate meticulously. You just need to have the patience to move from one company to another to gather information on available policies.
Let us put down how you can plan your own insurance – yourself:
1) There is no dilemma on the issue that you need insurance, but you need to decide what type of insurance you need.
2) When you are sure of the type of insurance that will help you the most in future, depending on your present financial condition, contact a few well-known insurance companies and ask them life insurance quotes.
3) Search a little bit further and you will surely find something that will best suit your purpose. You can select from insurance policies from broad categories like:
a) A policy that pays out lump sum after the policy holder’s death
b) A policy that pays out lump sum or adds to the income if the policyholder is critically ill or cannot work due to illness or accident
c) You can also look for a family life insurance, mortgage life insurance and mortgage protection, income protection or an unemployment cover depending on your need
4) Selecting the best life insurance policy is the most crucial part of the whole process. As you are doing it yourself without any prior knowledge of present insurance market and available policies, the process may even take months before you can come to any decision.
5) If you are late to start an insurance policy, the premium may be a bit high. Calculate the premium, payment dates, return on investment and others to get a clear view of what is awaiting you in the future.
6) While deciding the premium amount, don’t just depend on your present financial condition. Before signing the document, be sure that you can pay the premium till the end without disturbing a healthy lifestyle. Saving for future is good and necessary but an excess of it is not a healthy sign.
7) Read the offer document carefully before signing and submitting the document. Alternatively, you can contact some reliable UK based online life insurance brokers to compare different life insurance policies.
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