Aug 30
adminArticles Car Seat, Child Car Seats, Child Safety Devices, Collisions, Elegant Solution, Foam Pad, Frontal Airbag, Independent Studies, Initial Payment, Insurance Companies, Insurance Money, Insurance Premiums, Insurance Savings, Insurer, Leds, Neck And Back Injuries, Price Efficiency, Safety Features, Turn Signals, Whiplash
Extra safety features are often very inexpensive upfront and mean long-term savings on insurance premiums.
Before getting these features, talk to your insurer to make sure you will get a discount.
We have provided a price efficiency rating to let you know the ratio of upfront cost to insurance savings. The higher the price efficiency rating, the sooner you will make up the cost with insurance savings.
Add On Headrest
Protects against whiplash, head, neck, and back injuries. This is essentially a foam pad that attaches to the front of your headrest. It will allow you to rest your head while driving, rather than having to keep in hovering 6-inches from the rest.
Right now, your options are either to hold your head hovering without rest or to sit completely erect at a 90-degree, L-shape.
The add on headrest is an elegant solution to that problem that will really save your neck in a crash. Independent studies have proved it!
Plus, driving is just more comfortable.
Price Efficiency Rating: 7 – Will become higher as more insurance companies do their own studies on its effectiveness in reducing injury.
Signal Mirrors
These side mirrors flash LED turn signals so that it is clearer to other drivers that you are turning. There will be fewer collisions this way. Plus, the LEDs are very energy efficient, long-lasting, and cute!
Price Efficiency Rating: 5 – Installation can be pretty costly.
Child Car-seats
Getting the right child safety devices in your vehicle can save you big insurance money. If you ask your agent to recommend a car-seat, they may actually be able to offer you a discount because they know your child will have a much smaller chance of injury and death.
If your child’s improved safety isn’t a big enough reward, the savings will be!
- Rear-facing seats are best, but never put them in front of an active frontal airbag
- Do not incline seats more than 45 degrees
- Connect all the straps and harnesses correctly
- Pay attention to the expiration date on the car-seat
Price Efficiency Rating: 5-9 – Getting the best seat money can buy is better protection for your child and saves you more in the long run.
Sensors and Cameras
While these futuristic features are commonly thought of as expensive add-ons for luxury vehicles, they are becoming quite inexpensive as people and insurers realize they have huge safety and savings bonuses. As more statistics become available, insurers are seeing the proof that these features really do prevent many crashes and collisions, which means bigger discounts and lower rates as you get into fewer incidents.
- Lane-departure warning
- Front-collision warning
- Blind-spot detection
- Electronic stability control
Price Efficiency Rating: 5 – Once costs come down, this efficiency rating may well soar to a 10! For now though, it may take a year to recoup costs. However, if it saves you from a collision, which it very well might, you’ve instantly got your money’s worth.
Car Insurance Quotes
If your current insurance provider doesn’t give you significant discounts for extra safety options, consider switching. Car insurance quotes will help you find a more affordable provider. You can even compare policy details and rates from the best insurance companies in minutes using online car insurance quotes.
Jul 25
adminLife Insurance Basics, Buying Life Insurance, Car Loans, Career Stage, Credit Card Debts, Debt Repayment, Family Face, Family Life Insurance, Financial Expenses, Financial Obligations, Financial Professional, Funeral Expenses, Heirs, Insurance, Insurance Increases, Insurer, Life, Life Insurance Basics, Life Insurance Coverage, Life Insurance Policy, Life Insurance Proceeds, Paychecks, Peace Of Mind
Life insurance is an agreement between you (the policy owner) and an insurer. Under the terms of a life insurance policy, the insurer promises to pay a certain sum to a person you choose (your beneficiary) upon your death, in exchange for your premium payments. Proper life insurance coverage should provide you with peace of mind, since you know that those you care about will be financially protected after you die.
The many uses of life insurance
One of the most common reasons for buying life insurance is to replace the loss of income that would occur in the event of your death. When you die and your paychecks stop, your family may be left with limited resources. Proceeds from a life insurance policy make cash available to support your family almost immediately upon your death. Life insurance is also commonly used to pay any debts that you may leave behind.
Life insurance can be used to pay off mortgages, car loans, and credit card debts, leaving other remaining assets intact for your family. Life insurance proceeds can also be used to pay for final expenses and estate taxes. Finally, life insurance can create an estate for your heirs.
How much life insurance do you need?
Your life insurance needs will depend on a number of factors, including whether you’re married, the size of your family, the nature of your financial obligations, your career stage, and your goals. For example, when you’re young, you may not have a great need for life insurance. However, as you take on more responsibilities and your family grows, your need for life insurance increases.
There are plenty of tools to help you determine how much coverage you should have.
Your best resource may be a financial professional. At the most basic level, the amount of life insurance coverage that you need corresponds directly to your answers to these questions:
What immediate financial expenses (e.g., debt repayment, funeral expenses) would your family face upon your death?
How much of your salary is devoted to current expenses and future needs?
How long would your dependents need support if you were to die tomorrow?
How much money would you want to leave for special situations upon your death, such as funding your children’s education, gifts to charities, or an inheritance for your children?
Since your needs will change over time, you’ll need to continually re-evaluate your need for coverage.
How much life insurance can you afford?
How do you balance the cost of insurance coverage with the amount of coverage that your family needs? Just as several variables determine the amount of coverage that you need, many factors determine the cost of coverage. The type of policy that you choose, the amount of coverage, your age, and your health all play a part. The amount of coverage you can afford is tied to your current and expected future financial situation, as well. A financial professional or insurance agent can be invaluable in helping you select the right insurance plan.
What’s in a life insurance contract?
A life insurance contract is made up of legal provisions, your application (which identifies who you are and your medical declarations), and a policy specifications page that describes the policy you have selected, including any options and riders that you have purchased in return for an additional premium.
Provisions describe the conditions, rights, and obligations of the parties to the contract (e.g., the grace period for payment of premiums, suicide and incontestability clauses).
The policy specifications page describes the amount to be paid upon your death and the amount of premiums required to keep the policy in effect. Also stated are any riders and options added to the standard policy. Some riders include the waiver of premium rider, which allows you to skip premium payments during periods of disability; the guaranteed insurability rider, which permits you to raise the amount of your insurance without a further medical exam; and accidental death benefits.
The insurer may add an endorsement to the policy at the time of issue to amend a provision of the standard contract.
Types of life insurance policies
The two basic types of life insurance are term life and permanent (cash value) life. Term policies provide life insurance protection for a specific period of time. If you die during the coverage period, your beneficiary receives the policy death benefit. If you live to the end of the term, the policy simply terminates, unless it automatically renews for a new period. Term policies are available for periods of 1 to 30 years or more and may, in some cases, be renewed until you reach age 95. Premium payments may be increasing, as with annually renewable 1-year (period) term, or level (equal) for up to 30-year term periods.
Permanent insurance policies provide protection for your entire life, provided you pay the premium to keep the policy in force. Premium payments are greater than necessary to provide the life insurance benefit in the early years of the policy, so that a reserve can be accumulated to make up the shortfall in premiums necessary to provide the insurance in the later years. Should the policyowner discontinue the policy, this reserve, known as the cash value, is returned to the policyowner. Permanent life insurance can be further broken down into the following basic categories:
Whole life: You generally make level (equal) premium payments for life. The death benefit and cash value are predetermined and guaranteed. The policyowner’s only action after purchase of the policy is to pay the fixed premium.
Universal life: You may pay premiums at any time, in any amount (subject to certain limits), as long as policy expenses and the cost of insurance coverage are met. The amount of insurance coverage can be decreased, and the cash value will grow at a declared interest rate, which may vary over time.
Variable life: As with whole life, you pay a level premium for life. However, the death benefit and cash value fluctuate depending on the performance of investments in what are known as subaccounts. A subaccount is a pool of investor funds professionally managed to pursue a stated investment objective. The policyowner selects the subaccounts in which the cash value should be invested.
Universal variable life: A combination of universal and variable life. You may pay premiums at any time, in any amount (subject to limits), as long as policy expenses and the cost of insurance coverage are met. The amount of insurance coverage can be decreased, and the cash value goes up or down based on the performance of investments in the subaccounts.
Choosing and changing your beneficiaries
You must name a primary beneficiary to receive the proceeds of your insurance policy. Your beneficiary may be a person, corporation, or other legal entity. You may name multiple beneficiaries and specify what percentage of the net death benefit each is to receive. If you name your minor child as a beneficiary, be sure to designate an adult as the child’s guardian in your will.
Generally, you can change your beneficiary at any time. Changing your beneficiary usually requires nothing more than signing a new designation form and sending it to your insurance company. If you have named someone as an irrevocable (permanent) beneficiary, however, you will need that person’s permission to adjust any of the policy’s provisions.
Where can you buy life insurance?
You can often get insurance coverage from your employer (i.e., through a group life insurance plan offered by your employer) or through an association to which you belong (which may also offer group life insurance). You can also buy insurance through a licensed life insurance agent or broker, or directly from an insurance company.
Any policy that you buy is only as good as the company that issues it, so investigate the company offering you the insurance. Ratings services, such as A. M. Best, Moody’s, and Standard & Poor’s, evaluate an insurer’s financial strength. The company offering you coverage should provide you with this information.
Jul 05
adminInsurance Services American Travel, Best, Developing Countries, European Countries, Hassle, Health Insurance, Insurance, Insurance Agents, Insurance Company, Insurance Policy, Insurance Service Providers, Insurance Services, Insurer, Leading Insurance, Medical, Medical Expenses, Medical Insurance, Medical Treatment, Overseas Trip, Prescriptions, Services, Short Term Insurance, Travel Insurance, Visitor Insurance, Visitors
Make your overseas trip easier and hassle-free with visitors medical insurance. Because, as they say, the grass is always greener on the other side and it’s applicable with regard to medical expenses abroad. Especially in the case of the United States, Canada and other European countries, the cost of medical treatment is very high. The medical treatment is far more sophisticated and advanced in comparison to the developing countries. It is therefore necessary to get yourself covered with visitors health insurance if you are traveling abroad for a month or more than that.
How Visitor Insurance Helps
Visitor insurance helps you get your medical expenses covered through its short-term insurance policy. It ensures that your money is not spent in expensive hospitals and even provides prescriptions if necessary. But getting the visitor insurance is a task better said than done.
Choosing the right travel insurance USA offers can be a very complex decision, which needs to be taken with care. There is a risk of paying more than required or then getting less from the insurance company. There are insurance agents as well who can help you, but then you never know who would be getting commissioned for promoting certain policies.
How To Choose The Right Visitor Insurance Policy
To avoid choosing the wrong health insurance while being abroad, the best way to seek help is the internet. You can get very useful information about the rules and regulations involved in American travel insurance. There are also innumerable sites online that can help you understand such things. For example, how visitor medical insurance depends on who will be traveling along with the insurer.
Also, if he or she has traveled previously to the USA; if so, for what duration were they present?
One of such leading insurance service providers is Crossborder Services LLC. Operating from New Jersey, the USA, they provide visitors medical insurance services that cater to the insurance needs of international travel, expatriates, immigrants, and students.
The insurance plans offered by Crossborder Services are underwritten by reputed insurance companies such as American International Group (AIG), Nationwide, Lloyds, and Sirius International. Their insurance services comprise not just medical but overall travel insurance in USA. They provide services of travel insurance to USA visitors and residents, global travel insurance to tourists, and medical insurance to international students and travelers.
Their team provides a very professional service in Insurance. They ensure that the customer feels connected. Efforts are put to explain the difference between various plans and find out which policy suits the customer’s need in the best way. What’s more, you can also take their help to purchase the policy online. As soon as you complete the online transaction, you get an email through which your visitor travel medical insurance policy document is mailed. You also get a hard copy of the policy at your physical address. Their online site also provides a convenient easy-to-use insurance comparison tool. The company has reliable service which is evident from the innumerable testimonials of its customers. Their customers have even appreciated their services in the case of providing Schengen Visa Health Insurance.
Visitors medical insurance is a very essential task pertaining to American travel insurance. Getting the right insurance policy requires knowing and comparing several insurance policies available. In a new country, it is difficult to take the right decision by a visitor, and therefore taking expert help is the best way.
Jun 14
adminArticles Bipartisan Solutions, Borders, Consumer Protection Regulations, Department Of Insurance, Derivatives, Effective System, Final Thought, Finance Companies, Gop, Health Insurance, Healthcare Debate, Insurance Companies, Insurer, Local Companies, Monopoly, National Insurers, Recession, Regulatory System, Sovereignty, Subprime Mortgages
The game played by politicians is to take an idea from their own agenda and then frame it in a way that sells it to the other side. When the politicians meet in the middle, bipartisan solutions to problems emerge. This reflects the fact there is no monopoly on good ideas, only simple good solutions to difficult problems. In the healthcare debate, one of the solutions proposed by the GOP was to allow people to buy their insurance across state lines. This sounds a good idea. As the law stands, every state regulates the sale of insurance within its own borders. This limits the size of the market. If insurers had to compete with each other on a regional or national level, the premium rates would fall and every citizen would get a better deal. Well, let’s look a little more closely at how it would actually work.
At present, every state has a Department of Insurance to regulate the insurance companies licensed to sell policies. This is a reasonably effective system for consumer protection. But if regional or national insurers could sell policies into many states, it would break the regulatory system. It would no longer be local supervision of local companies. Insurers would decide where to establish and would, of course, choose the states which had the weakest consumer protection regulations, i.e. where they could make the most profit. Think banks and finance companies. These companies broke the US economy and produced the recession because their sales of subprime mortgages and associated derivatives were unregulated. Now apply the same thing to interstate insurance. As a final thought on this issue, remember all US states have different laws and one state cannot enforce another’s laws. That is sovereignty for you. So the state where an insurer is based cannot protect consumers under another state’s laws.
Secondly, opening the market across state lines allows insurers to cherry pick the best people to insure. Without regulations to limit the right to discriminate against people for pre-existing conditions and to increase premiums as people get older and fall ill more often, insurers will just take their profit from all the healthy people and forget about the rest. Thus, instead of increasing consumer choice, it would have the reverse effect. Most insurance companies would close their branches in individual states. Those that remained would keep all the aging and less healthy people. As their claims rise, the companies will make a loss and close. Without a law to mandate regional or national companies to offer some health coverage, it is likely the number of uninsured people would rise.
When you add all this up, it is a good thing the GOP’s proposal was rejected. Health insurance plans are complicated enough without having to change a whole mass of federal and state laws to allow interstate sales. This is not to say that consumers might benefit if there was more competition in the insurance market generally. With a real free market, properly regulated, consumers would get a better deal both in the terms of coverage and in the premium rates they pay. As it is, you must get multiple quotes to find cheap health insurance. Anticipating their profits will take a hit following this reform, insurers have been raising their premium rates. You must shop around to find the most affordable policy.
Jun 11
adminArticles Balancing Act, Diagnostic Tests, Family Budgets, First Contact, Health Insurance, Health Maintenance Organizations, Health Plans, Healthcare Professions, Instalments, Insurance Companies, Insurance Industry, Insurance Policy, Insurer, Lump Sum, Medical Services, Own Health, Recession, Strange Contradiction, Treatment Failure, Wonderful Thing
There’s a strange contradiction about insurance. It’s an annoying burden every month when the time to pay the premium comes around but, if the worst should happen, it’s a wonderful thing to have had that insurance policy in place. With the family budgets really tight as the recession shows little sign of going away, the monthly bank statement shows the insurance instalments disappearing. You look at your own health. That’s great. You have never had a day of serious illness in your life. It’s the same for your partner. You cannot avoid feeling a little resentful. All those dollars, every month. And then there’s an accident or one of you does unexpectedly fall ill. It’s then you discover whether that plan you have been paying into is actually worth the money.
The market for health plans is divided in a slightly complicated way. It’s really to ensure the insurance companies make a profit as the cost of treatment keeps on rising way faster than inflation. So it reflects a balancing act between allowing the patients some say, and denying them any real control, over access to treatment. The plan most popular with the insurance industry is Managed Care. This requires you to get the insurer’s permission before you attempt to access treatment. The first contact doctor must be from an approved list, and he or she must refer you on for further diagnostic tests or treatment. Failure to get this referral usually means the insurer will refuse to pay. The second option is a Fee For Service Plan where you pay a lump sum at the beginning of each year, followed by monthly instalments. This covers you for the medical services listed in your policy. Basic plans only cover consults with your doctor and a simple set of tests. More expensive plans have a better range of coverage but there are usually co-payments.
Health Maintenance Organizations (HMOs) are networks of healthcare professions. If you stay within the network, your medical needs are covered although, in most plans, co-payments will be required. The next step up is a Point of Service Plan (POS). This is a variation on the HMO and allows a networked doctor to refer you to an outside expert. Finally, there are Preferred Provider Organizations (PPOs) which offer more choice than an HMO or POS both in the doctors you can access and the treatments you can have, e.g. usually include preventative medicine.
Because the service offered by this site is free, you can get as many health insurance quotes as you like for each of the main types of plan. This gives you more information on which to make your decision. But it’s fair to say the decision is not an easy one unless you read the detail of each plan with some care. With all the health insurance quotes available, you are often forced to balance coverage against cost, i.e. you buy the amount of coverage you can afford. This makes the choices something of a gamble. Do you pick emergency care in the event of an accident or focus on a list of the most common diseases or disorders? Do you include long-term care against the possibility you might be more permanently disabled by whatever happens? There is no right or wrong answer to these questions. In the end, it all comes down to what you can afford and what helps you to sleep best at night.
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