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News about FindYourPolicy.com
News about FindYourPolicy.comEdmund was nice enough to email me info about this site:
You have to ask yourself; Will my life insurance or safety deposit box be found when I die?
It is estimated billions of dollars of Life Insurance and 100’s of
Feb 13 2008
A Practical Guide to Managing Life's Conflicts
A Practical Guide to Managing Life's ConflictsBetter Business
I got this email from Better Bureau of Sask Inc today.
Kelly Karius, B.S.W., R.S.W., Mediator., and Author of "This is Out of Control!, A Practical Guide to Managing Life's Conflicts"
Feb 13 2008
SITE REVIEW: Insurance Quote Site
SITE REVIEW: Insurance Quote SiteI was asked to do a review for
www.insurelog.com/life-insurance.htm which is a insurance quote site located in North Hollywood, CA although they give quotes in all states. This site gives quotes for the following p
Nov 23 2007
Suicide Life Insurance Benefits? - Life Insurance Discussion
Suicide Life Insurance Benefits? - Life Insurance Discussion
As I was was researching this article, I went on to google groups and looked for what people were saying about suicide and life insurance.
The holiday season has a reputation for having h
Nov 23 2007
Costs Of Funeral Expenses - Funeral Planning
Costs Of Funeral Expenses - Funeral Planning
THE QUESTION: What are the first two questions that a loved one asks if their spouse or parent dies unexepectedly?
SPOUSE QUESTION #1: What should I do?
SPOUSE QUESTION #2: Do I have the money to pay f
Nov 16 2007
You need life insurance?
You need life insurance?
by Williambenjamin
Life insurance is a matter, people often don't talk about. But it really needs to be under consideration. Whether you accept or not; your future is not secured, if you don't own any policy. Generally, p
Nov 16 2007
Do I need life insurance and if so how much
Do I need life insurance and if so how much?
by Chris Clare
This is a question that is often asked of me as a financial advisor and one that is very simple to answer.
In order to establish if someone needs life insurance you first need to ask
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Life Insurance Blog Area
Life Insurance Blog Post Date: Apr 16, 2007
Life insurance ? what price privacy?
Michael Challiner
Life Insurance Specialists
Holmes Chapel, Cheshire
There was a time when people were entitled to their privacy, unless they had committed a criminal offence. Sadly those days are long gone and most unlikely to return. It may have started with the Government authorising the taxman to enter your home, and denying you any right of refusal.
It seems to have developed from that point, giving a free hand to almost anyone who could put forward a good case for intruding into your affairs. Private companies have not been slow to get in on the act, and the number of individuals who now have a right to investigate your private life has grown to alarming proportions. It is doubtful if any individual could ?off the cuff? give you a comprehensive list of those who are given this dispensation.
The latest intrusion relates to life insurance companies and women who have had breast or ovarian cancer in their family and hope to take out a life policy. BRCA1 and BRCA2 mutations are faulty genes which are adjudged to be responsible for 10% of the ovarian cancers and 5% of the breast cancers which each year are diagnosed in Britain. In connection with this most distressing and private of situations, the Association of British Insurers (ABI) is intending to submit an application for its members to be permitted to question women regarding testing for these mutations.
If the government?s advisors, the Genetics and Insurance Committee give their approval, women applying for a life policy will have to say whether they have been tested and if so they will be required to divulge the outcome. Admission of a positive result would be likely to force up premiums or may even be used as a reason for a refusal of cover.
Several European countries have banned this most intrusive of questions and the results of genetic tests in those countries are not permitted as a reason for increasing insurance premiums. Strange to relate Britain has a similar voluntary agreement which last year was extended to 2011. This banned questions about genetic testing for anything except Huntingtons Disease (due to its development being free from environmental effects), and even in that case specific limits have been applied. These are based on the value of the proposed policy and are set at quite high minimum values i.e. ?500,000 life, ?300,000 critical illness or ?30,000 payment protection insurance.
Despite this, the ABI genetics working party is looking for approval by the year end of its proposal for permission to ask insurance applicants about the two cancer genes. Considering that questions are not even currently allowed regarding an applicant being HIV positive, this proposal is really pushing at the boundaries.
One obvious result of such a change was indicated by the 28% of women who, in taking part in a study by the charity Breakthrough Breast Cancer, said that despite a family breast cancer history, they may avoid a genetic test if the results are to be accessible to insurers.
If this proposal should go through, where will it end? The science of genetics is in its infancy and who knows what findings in the future may be useful to insurers and access be demanded as a result. It is easy to extrapolate this to the point where a range of genetic tests must be undergone before a policy will be issued.
Some have seen the dangers and the government is being lobbied by an alliance of scientists, unions and charities backed by lawyers, to refuse any attempts to get approval for this use of genetic information.
Insurance is after all a sophisticated form of gambling where a payment will result if certain things happen ? it seems that insurance companies are keen to shift the odds in their favour on the basis of information which should be private to the individual concerned.
Get great articles on life assurance from life insurance specialists http://www.life-insurance-specialists.co.uk
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Life Insurance Blog Post Date: Apr 16, 2007
Life Insurance ? When Only The Best Will Do!
Michael Challiner
Life Insurance Professionals
Holmes Chapel, Cheshire
We?re all too used to hearing about rising prices. But there?s one thing that now costs less than ever ? good life insurance! Intrigued? Read on ?
No-one likes to think about the worst that could happen. But proper life insurance cover could protect your family, providing them with the means to cope financially should you pass on. Life insurance cover is divided into three main types. Here is our jargon-busting guide to de-mystifying what they are, and what they mean:
? First we have the level term policy. This pays a one-off cash payment when you die. The amount is agreed when you take out the policy and does not change.
? An increasing term policy is also known as indexed insurance and the amount paid out changes with inflation. Some policies of this type may have premiums that rise with inflation too, but some do not.
? Lastly a decreasing term policy pays out an amount on death that decreases through time, getting smaller as the policy progresses. A long-lived customer may even outlive the point where the policy pays anything at all.
These policy types often form part of loan or mortgage deals. There are benefits to each type, depending on the loan or mortgage it is being used to safeguard.
Level term policies are most usually used with interest only mortgages. This type of mortgage does not reduce the capital you borrowed with time ? you only pay off the interest. When you die, the capital amount is paid off by the insurance policy payout. Whatever may happen with inflation, it does not change.
Increasing term policies cost more, but offer protection against inflation.
Decreasing term policies are usually used with repayment mortgages. In this type of mortgage the capital is paid off along with the interest, decreasing the amount you owe. This type of insurance has lower premiums than level term insurance.
Term policy payments can be settled in two ways: either as a single or ?lump? sum, or as ?family income benefit?. This second method means that an agreed amount is paid to your family as an income for the remaining duration of the policy. The method you use affects the cost of the premium you will have to pay. If you consider that the longer a policy holder lives, the fewer family income payments an insurance company will have to make, you can see why this type is cheaper.
So far, we have only discussed insurance for mortgages and loan payments. These are both useful, but there are other things you can do to ensure peace of mind.
A typical, average family, it is estimated, will need insurance for both parents worth at least ?150,000 in insurance for each child, in addition to any death-in-service benefits you may expect ( these usually come with your employment). Taking the option of family income benefit, it?s recommended that you should allow for an income of ?20,000 to ?25,000 a year for each child.
There is another alternative form of life insurance. It pays out a guaranteed sum on the death of the policy holder (the sum assured), and is known as whole of life. The terms for this type of insurance vary.
You can also buy life insurance bundled with your pension fund. This gives you the opportunity of getting tax relief on the premiums you pay. A higher rate tax payer can get ?100 worth of life insurance for only ?60, which makes this an attractive method to some. On the downside, higher administration costs for this type mean higher premiums overall, so basic tax rate payers may prefer to shop around and compare to make sure they get the best deal.
Some couples take out a joint policy covering both at once, but it?s better to take out individual insurance. The reason for this is that a joint policy pays out only once, when the first partner dies, but individual policies pay out for each partner.
We?ve given an overview of the different policies and what might be best for you here, but for more in-depth and up-to-the-minute advice we recommend finding an Internet insurance broker. Surf onto the ?net, and into a great deal ? and peace of mind for you and your family, hopefully for many years to come!
Get great articles on life assurance from Life Insurance Professionals http://www.life-insurance-professionals.co.uk
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Life Insurance Blog Post Date: Apr 16, 2007
Small Business Health Insurance: "The Best Policy Is A Great Agent"
I have been a health insurance broker for over a decade and every day I read more and more "horror" stories that are posted on the Internet regarding health insurance companies not paying claims, refusing to cover specific illnesses and physicians not getting reimbursed for medical services. Unfortunately, insurance companies are driven by profits, not people (albeit they need people to make profits). If the insurance company can find a legal reason not to pay a claim, chances are they will find it, and you the consumer will suffer. However, what most people fail to realize is that there are very few "loopholes" in an insurance policy that give the insurance company an unfair advantage over the consumer. In fact, insurance companies go to great lengths to detail the limitations of their coverage by giving the policy holders 10-days (a 10-day free look period) to review their policy. Unfortunately, most people put their insurance cards in their wallet and place their policy in a drawer or filing cabinet during their 10-day free look and it usually isn't until they receive a "denial" letter from the insurance company that they take their policy out to really read through it.
In my professional opinion, when you purchase a health insurance plan, you must achieve a balance between four important variables; wants, needs, risk and price. Just like you would do if you were purchasing options for a new car, you have to weigh all these variables before you spend your money. If you are healthy, take no medications and rarely go to the doctor, do you really need a 100% plan with a $5 co-payment for prescription drugs if it costs you $300 dollars more a month?
Is it worth $200 more a month to have a $250 deductible and a $20 brand name/$10 generic Rx co-pay versus an 80/20 plan with a $2,500 deductible that also offers a $20 brand name/$10generic co-pay after you pay a once a year $100 Rx deductible? Wouldn't the 80/20 plan still offer you adequate coverage? Don't you think it would be better to put that extra $200 ($2,400 per year) in your bank account, just in case you may have to pay your $2,500 deductible or buy a $12 Amoxicillin prescription? Isn't it wiser to keep your hard-earned money rather than pay higher premiums to an insurance company?
Every time I contact a prospective client or call one of my client referrals, I ask a handful of specific questions that directly relate to the policy that particular individual currently has in their filing cabinet or dresser drawer. So what do you think happens almost 100% of the time when I ask these individuals "BASIC" questions about their health insurance policy? They do not know the answers! The following is a list of 10 questions that I frequently ask a prospective health insurance client. Let's see how many YOU can answer without looking at your policy.
1. What Insurance Company are you insured with and what is the name of your health insurance plan? (e.g. Blue Cross Blue Shield-"Basic Blue".)
2. What is your calendar year deductible and would you have to pay a separate deductible for each family member if everyone in your family became ill at the same time? (e.g. The majority of health plans have a per person yearly deductible, for example, $250, $500, $1,000, or $2,500. However, some plans will only require you to pay a 2 person maximum deductible each year, even if everyone in your family needed extensive medical care.)
3. What is your coinsurance percentage and what dollar amount (stop loss) it is based on? (e.g. A good plan with 80/20 coverage means you pay 20% of some dollar amount. This dollar amount is also known as a stop loss and can vary based on the type of policy you purchase. Stop losses can be as little as $5,000 or $10,000 or as much as $20,000 or there are some policies on the market that have NO stop loss dollar amount.)
4. What is your maximum out of pocket expense per year? (e.g. All deductibles plus all coinsurance percentages plus all applicable access fees or other fees.)
5. What is the Lifetime maximum benefit the insurance company will pay if you become seriously ill and does your plan have any "per illness" maximums or caps? (e.g. Some plans may have a $5 million lifetime maximum, but may have a maximum benefit cap of $100,000 per illness. This means that you would have to develop many separate and unrelated life-threatening illnesses costing $100,000 or less to qualify for $5 million of lifetime coverage.)
6. Is your plan a schedule plan, in that it only pays a certain amount for a specific list of procedures? (e.g., Mega Life & Health & Midwest National Life, endorsed by the National Association of the Self-Employed, N.A.S.E. is known for endorsing schedule plans.) 7. Does your plan have doctor co-pays and are you limited to a certain number of doctor co-pay visits per year? (e.g. Many plans have a limit of how many times you go to the doctor per year for a co-pay and, quite often, the limit is 2-4 visits.)
8. Does your plan offer prescription drug coverage and if it does, do you pay a co-pay for your prescriptions or do you have to meet a separate drug deductible before you receive any benefits and/or do you just have a discount prescription card only? (e.g. Some plans offer you prescription benefits right away, other plans require that you pay a separate drug deductible before you can receive prescription medication for a co-pay. Today, many plans offer no co-pay options and only provide you with a discount prescription card that gives you a 10-20% discount on all prescription medications.)
9. Does your plan have any reduction in benefits for organ transplants and if so, what is the maximum your plan will pay if you need an organ transplant? (e.g. Some plans only pay a $100,000 maximum benefit for organ transplants for a procedure that actually costs $350-$500K and this $100,000 maximum may also include reimbursement for expensive anti-rejection medications that must be taken after a transplant. If this is the case, you will often have to pay for all anti-rejection medications out of pocket.)
10. Do you have to pay a separate deductible or "access fee" for each hospital admission or for each emergency room visit? (e.g. Some plans, like the Assurant Health's "CoreMed" plan have a separate $750 hospital admission fee that you pay for the first 3 days you are in the hospital. This fee is in addition to your plan deductible. Also, many plans have benefit "caps" or "access fees" for out-patient services, such as, physical therapy, speech therapy, chemotherapy, radiation therapy, etc. Benefit "caps" could be as little as $500 for each out-patient treatment, leaving you a bill for the remaining balance. Access fees are additional fees that you pay per treatment. For example, for each outpatient chemotherapy treatment, you may be required to pay a $250 "access fee" per treatment. So for 40 chemotherapy treatments, you would have to pay 40 x $250 = $10,000. Again, these fees would be charged in addition to your plan deductible.)
Now that you've read through the list of questions that I ask a prospective health insurance client, ask yourself how many questions you were able to answer. If you couldn't answer all ten questions don't be discouraged. That doesn't mean that you are not a smart consumer. It may just mean that you dealt with a "bad" insurance agent. So how could you tell if you dealt with a "bad" insurance agent? Because a "great" insurance agent would have taken the time to help you really understand your insurance benefits. A "great" agent spends time asking YOU questions so s/he can understand your insurance needs. A "great" agent recommends health plans based on all four variables; wants, needs, risk and price. A "great" agent gives you enough information to weigh all of your options so you can make an informed purchasing decision. And lastly, a "great" agent looks out for YOUR best interest and NOT the best interest of the insurance company.
So how do you know if you have a "great" agent? Easy, if you were able to answer all 10 questions without looking at your health insurance policy, you have a "great" agent. If you were able to answer the majority of questions, you may have a "good" agent. However, if you were only able to answer a few questions, chances are you have a "bad" agent. Insurance agents are no different than any other professional. There are some insurance agents that really care about the clients they work with, and there are other agents that avoid answering questions and duck client phone calls when a message is left about unpaid claims or skyrocketing health insurance rates.
Remember, your health insurance purchase is just as important as purchasing a house or a car, if not more important. So don't be afraid to ask your insurance agent a lot of questions to make sure that you understand what your health plan does and does not cover. If you don't feel comfortable with the type of coverage that your agent suggests or if you think the price is too high, ask your agent if s/he can select a comparable plan so you can make a side by side comparison before you purchase. And, most importantly, read all of the "fine print" in your health plan brochure and when you receive your policy, take the time to read through your policy during your 10-day free look period.
In closing, I hope I have given you enough information so you can become an INFORMED insurance consumer. However, I remain convinced that the following words of wisdom still go along way: "If it sounds too good to be true, it probably is!" and "If you only buy on price, you get what you pay for!"
? 2007 Small Business Insurance Services, Inc.
C. Steven Tucker is the President of Small Business Insurance Services, Inc., and has been a licensed multi-state health insurance broker servicing the small business and self-employed community for over a decade. Many of Mr. Tuckers articles on health insurance can be found on www.smallbusinessinsuranceservices.vox.com
If you have a general question about health insurance or would like to comment on this article, you may contact Mr. Tucker thro
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Life Insurance Blog Post Date: Apr 16, 2007
Car Insurance Rates - 4 Tips for Preventing Car Theft
Having your car stolen can be a scary thing. Many who have had their cars taken typically feel both angry and vulnerable, even to the point of feeling somewhat "violated". If you don't have insurance that covers the theft of a car when it happens, it can be equally as scary from a financial point of view. When you have comprehensive coverage on your car, your insurance company will help to replace your stolen car. While having this coverage is important, there are some ways that you can help prevent your car from being stolen as well, which may save you money on your car insurance rates in the long run. As they say, an ounce of prevention is always worth a pound of cure.
Tip 1: Use Common Sense - One of the best ways that you can prevent your car from being stolen is to use common sense and make sure that you lock your car doors whenever you leave your vehicle, regardless if it's in a dark alley, a public place, or parked in your garage. Plain and simple, if you leave your doors unlocked all the time, you elevate the risk of your car being stolen. You should also be sure that you take your keys with you and never leave them in your car or anywhere else in public. Often just using these common sense precautions is enough to save you from car theft.
Tip 2: Get an Alarm - You can also help prevent car theft by installing some kind of warning device or alarm device in your car. Whether it is a visible device or an audible one, both can be good deterrents to anyone thinking about stealing your car. Usually alarms are fairly affordable, and it is definitely cheaper than trying to find a new car.
Tip 3: Use an Immobilizing Device - Another way to prevent your car from being stolen is to purchase some kind of immobilizing device to use in your car. There are a variety of different devices available, such as smart keys, kill switches, the Club, and fuel cut-offs. Many of these devices are relatively inexpensive and they are highly effective as well.
Tip 4: Install a Tracking Device - One of the newer ways to deter car thieves is to have a tracking device installed in your car. These devices are quite high tech, and they will alert you when someone is moving your car without authorization. Some of these tracking devices actually will notify the police when unauthorized movement is made as well. While these tend to be a bit more expensive than other methods, they can definitely be a great help if your car actually gets stolen.
Even though you may have coverage on your car that will pay if it is stolen, taking preventive measures is much simpler and will help keep your car insurance rates down as well. Just taking the time to use common sense and employ the help of cheap devices can help keep your car from being stolen. While incorporating one of these tips is great, using all of them together can give you the best results when trying to protect your car from theft.
To learn more about how you can save money and greatly reduce your car insurance rates, please visit www.car-insurance-rates-info.com. We offer unbiased information on the best ways to get insurance discounts, find out what average car insurance rates are and more.
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Life Insurance Blog Post Date: Apr 16, 2007
Choosing the Best Life Insurance
Many people wonder why they should invest in life insurance. The fact is when you pass away and do not have coverage or money; your loved ones must take the burden of paying funeral costs, arranging, and so on. The cost of funerals is costly, so this is unfair to your loved ones. Life insurance will cover you, and will offer some stress relief in the event you die on funeral costs.
Moreover, if you pass on, your family will have to pay your mortgage, car payments and so on. Do not let this happen. Some life insurance policies will offer you unemployment coverage, burial, mortgage coverage and so on.
Life insurance plans will protect you and your family. You can find affordable plans online so there is no reason not to seek coverage. Some life insurance plans will cover debts you owe, expenses and so on. You will find life insurance plans that will cover all your estate costs too.
Life insurance often includes the cash value plans and the term life policies. Cash value will provide you coverage for the course of your life. In short, this is the permanent plan whereas term life is a plan that when it expires you must renew the policy. Obviously, the cash value is the better choice.
Cash value life will offer you benefits that will cover you in the event you pass. You have asset value that attaches to this plan. In other words, you have lifetime coverage at some of the best rates on insurance. In short, this plan will protect your financial interest. You have options to with some term life insurance. Some plans will allow you to request a conversion to change your plan to a cash value plan. Some term life plans will not give you this option.
You have other options with life insurance plans, but the cash value is obviously one of the better choices. Still, you can go online to use quote system at the insurance sites to find great rates, comparable costs, and several types of insurance plans.
If you are an employer, looking for group insurance coverage you will find a wide assortment of policies online also. Cobra, term life (group option) and other plans are available. Use the quote system to find the best rates on group life insurance. Check the packages offered, since some insurance plans give you better rates and benefits than other plans will.
Life insurance is important. To make your family's life easier, go online and search through the different plans to find what works best for you. Get the protection you and your family both deserve.
About the Author
Martin Lukac, represents http://www.1americaninsurance.com that provides free insurance quotes for home insurance, auto insurance and life insurance. With #1 American Insurance you will get the best insurance quote in your area as our insurance agents are top rated in insurance markets.#1 American Insurance
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Life Insurance Blog Post Date: Apr 13, 2007
Tour of term life insurance blogs.
I saw some interesting posts by other insurance blogs and thought I would hilite those here;
The Insurance Policy Blog has a post about:
Poipu Beach Kauai Hawaii Vacation: Should I Buy Trip Cancellation Insurance?
Traveling to a far away destination is usually costly and often planned many months in advance. Therefore it could be beneficial to your peace of mind and financial well being to possibly purchase trip cancellation insurance. However, before buying a trip cancellation policy check to see if a trip is already covered through other means.
Recently my mother, who is mid 60's went to Africa on a religious missionary type trip. She was helping people in Kenya install water filtering processes for their wells. She currently lives in Calgary, AB.
I can only imagine what would need to be done if she suddenly passed away in the middle of a forest area in Kenya.
In order to repatriate a body from another country, you would need a big sum of money to pay for transportation costs, red tape, and other processing costs.
So, as The Insurance Policy states, it's really important to have some sort of trip cancellation insurance policy and as well trip life insurance policy.
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AccuQuote life insurance blog has a post about:
Can I lie on my life insurance application to get a more favorable rate?
If you are asking yourself this question, you may want to read yesterday's post. Once you read it I think you'll see why lying on your application is NOT a good idea.
You want to be as honest as possible for several reasons.
Whereas it may seem like a good idea to lie about your health, age, risky activities or occupation, the life insurance companies have a great deal of checks and balances to test to see if a person is telling the truth or not.
SCENARIO:
You have lung cancer and apply for a life insurance policy that doesn't require a medical.
If you pass away, and by their research the life insurance company detects that you had lung cancer when you applied for the insurance, you would forfeit the benefits and the life insurance company would return your premiums back. This would be on the basis of a fraudulent application.
If you apply for a life insurance policy that requires a medical, the medical exam would determine that you have cancer, or what ever other health problem and either be denied life insurance, or have to pay a much higher amount.
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Life Insurance Blog Post Date: Apr 11, 2007
Canadian Life Insurance Discussion Forum
Life insurance, it's kind of a dry subject and quite frankly not one that people want to spend hours talking about. In my effort to learn more about life insurance as research for this blog, I realized that I didn't know all of the questions or answers, and sometimes the best way to learn about life insurance in Canada is to discuss it with the people who are currently buying, and already own it.
I moved this life insurance discussion forum over to this site yesterday from http://www.canadian-money-advisor.ca.
There was a little discussion and talk about some of the life insurance companies in Canada, however, I thought that this discussion area would be more appropriate on this site.
The reason we developed this discussion area is so that Canadians would have more resources to learn about the life insurance product, ask questions, and get answers from the experts who know life insurance.
If you're in the market to purchase life insurance in British Columbia, Alberta, Ontario or anywhere else in canada for that matter please do take a moment to Log In or Register. After that you can join us in our discussions with regards to life insurance in general, or specific companies that you would like to deal with.
While we do have quite a few life insurance companies listed, some aren't listed. The reason for this is that we prefer to promote some life insurance companies over others, just as with any business. If you have questions about other life insurance companies, let us know about those questions or comments and we'll try to help you as best we can.
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