The Value and Importance of Whole Life Insurance Policies

Initially all types of Life Insurance Policies were term Life Insurance. However as term life insurance only pays a claim upon death within the stated term, most term insurance policy holders became upset over the idea that they could be paying premiums for 20 or 30 years and then terminate the premium and have nothing to show for it. This gave birth to the concept of Whole Life Insurance, which proved to be beneficial to both the insured and the Life Insurance Company. By guaranteeing the death benefit and the cash value, the policy owner was assured that insurance coverage would be in force when the insured died. The Life Insurance Company benefited because with every premium payment made, the net amount at risk, and thus the cost of insurance, was reduced In case of a Whole Life Insurance policy the premium rates are constant through out. It is advisable to invest in these kinds of policies though primarily for two reasons. Firstly the financial strain will be minimal for a person of that age. Secondly when a person invests early he won't find it difficult to pay the same amount even after he gets old because of two factors namely the rise in his income and the uniform rate of premium.
The two main categories of traditional whole Life Insurance are a) Ordinary whole life insurance policies & b) Limited pay whole life policies. Ordinary whole life insurance policies require the policy holder to pay a fixed sum of money up to an old age. This is done to ensure that when the policy matures that the insured gets money whose value equals death benefit. But in practical cases the insured fails to keep the premium carrying on as they either die during the payment tenure or surrender the policy to get the maximum value. For Limited pay whole life policies the insured is required to pay premiums at a uniform rate. Here the period for which the policy is taken is less compared to ordinary whole life insurance policies; hence the insured is required to pay a higher amount of premium. Limited pay whole policies are further categorized into A) Interest Sensitive Whole Life Policies - This policy does not pay returns to the insured. However the amount earned by investing the insured's investment is accounted and paid to the insured, B) Universal Whole Life Insurance Policies – A very flexible type of insurance policy, which allows for a change in death benefits every year & C) Variable Life Insurance Policies – Here the insured will be able to earn a higher amount when compared with the other policies. At the same time the insured will not be able to claim other insurance benefits like loan.
Major benefit of this kind of policy is the availability of loans. The amount of such loans will be decided on the basis of his policy amount and premiums. But in such cases the amount or refund that they will receive after the expiry of policy will be less. Whole Life Policies are for people guarantees returns on investments; hence it is best suited for people who are looking for something more then protection. If the investment (premium), that you make is invested in stocks then expected returns aren’t assured, but if they are invested in other financial instruments like banks or trading sectors then the returns are ensured.

How to buy car insurance ?

When buying car insurance, it's important to select the right type of cover. Here is a checklist to help you find the best policy...

Decide on the level of car insurance cover

• The cheapest car insurance cover is third party. This protects you from liability if you injure someone and pays to replace or repair their car, but does not cover damage to your car.
• A slightly more expensive option is third party, fire and theft. In addition to third party cover, it pays for repair or replacement of your car if it's stolen or damaged, or destroyed by fire.
• The most expensive car insurance is comprehensive. These policies also cover damage to your car if you are involved in an accident.

Things to look out for in car insurance cover

• Check that you're covered if personal belongings are stolen from your car.
• Check for upper limits, i.e. what the policy will pay out on individual items—for example, expensive in-car audio equipment.
• Check for legal protection cover, which is essential if you're involved in a legal action as a result of a car insurance claim.
• Ask about any excess, i.e. the amount you have to pay on each claim.

How to cut the cost of car insurance cover

• Shop around—buying online can be up to 10 per cent cheaper than a phone quote.
• Check to see if you're entitled to any no-claims discount. These vary widely between insurers, but if you've driven without making a claim on your car insurance for a year, typically you can save 30 per cent on your car insurance premium and up to 70 per cent after four years without a claim.
• Are you a woman driver? If so, you could be in line for cheaper car insurance. Some insurers look more favourably on female drivers as, statistically, women's claims are for relatively minor accidents.
• Keep your mileage low—if you do fewer than 12,000 miles a year, you could save money on your car insurance.
• Fit extra security. Installing an alarm or immobiliser can cut car insurance premiums, as can off-street parking or keeping your car in a garage.

If you're under 25

Statistically, young drivers are more likely to have an accident and claim on their car insurance, so premiums can be very high. To help reduce these:

• Buy a car deemed by insurers to be in a low-risk group.
• Enrol in the Driving Standards Agency Pass Plus scheme.
• Shop around for a specialist policy aimed at young drivers.

Tip

If a young person occasionally uses their parents' car, they can be added to their parents' car insurance policy as a named driver. Don't do this if the child is the main driver, however—it's illegal and car insurance companies are clamping down on the practice.

All guides on Yell.com are provided for general guidance only, do not constitute legal or professional advice and are not intended to be exhaustive.

Auto Insurance Payouts

According to the Financial Ombudsman Service there has been a 70% increase in motor insurance complaints over the past six months.

With the value of cars rising, motor insurers are choosing to repair cars as appose to writing them off. This has resulted in the majority of disputes between consumers and insurers being based on bad quality repairs and valuations.

Repair costs for cars that are worth £30,000 to £40,000 can easily be in the region of £15,000. Because of this, many insurance companies prefer to have the repairs conducted at one of their garages, whereas the consumer may prefer their vehicle be repaired at a specialist garage.

Consumers that find themselves in this situation do not have to accept repairs at the garage their insurer offers. They can choose exactly where they would like their vehicle to be repaired.

Moreover, the vehicle should leave the garage in perfect condition. Any dissatisfaction regarding the quality of repairs and the insurer should commission a report from an independent engineer report.

Another big problem the ombudsman found is that there has been an increase in the number of consumers that have been denied payouts when their car has been stolen.

“The typical scenario is you get up one morning and your car has gone. The insurer somehow blames you for it, and refuses to pay up on the grounds that it can’t be stolen,” Robert Short, lead motor insurance ombudsman.

Insurance companies justify this move by saying that many of today’s cars are fitted with sophisticated security systems, and that the only way the car could have been stolen is down to consumer carelessness.

Life Insurance Information

Life insurance is a legal contract between an insurance company and the policy owner. The life insurance company pays a sum of money upon such event like death of the person insured. The amount of money is paid to the respective beneficiary in case an insured event covered by the policy is occurred. The terms and conditions in the contract describe the limitations of the events insured.

Some of the major reasons people buy life insurance are as follows:
- Replacement of income needed in case of the death of a wage earning family member.
- Payment of a mortgage loan or any other major debts.
- To get the necessary fund for the child’s higher education in universities.
- Payment for expenses like taxes and others like funeral costs.
- Creation of a fund for a member family who may be in need of a big sum of money in the future.
Life insurance policies can be categorised in 2 types: Protection and investment. For the protection policy, payment is normally done in a lump sum in case of any specific event. However, the investment policy is designed to protect and the capital grows over a certain period via a single premium or regular payments.
To build huge amount of wealth can take a long time, but one can lose everything in a short period of time. Illness like cancer, heart attack or stroke can occur at any time and prove dangerous. Thus it’s of utmost importance to protect the family. Below are some life insurance tips one should be aware.
- Buy enough cover so large debts like paying a mortgage or the child’s education can be paid.
- On life plans, do check the terminal illness benefit as this pays the assured amount if one is diagnosed with less than twelve months to stay alive.
- As compared to income protection, critical illness protection just covers the conditions that are listed under the plan. You should understand and verify well what is covered and what is not covered.
- Do ensure that at certain stages in your life, you can upgrade your policy, in circumstances like buying a new home, marriage or birth of a child.
- Be aware of the coverage you presently have to avoid over insuring. In your employee benefit package, life insurance, income protection and even critical illness insurance may be provided.
As much information should be given to the insurer. Non-disclosure of habits of smoking or regular pains can result in your policy not paying out. Thus it is clear to disclose even minor heath issues to be on the safe side. It’s also wise to check the cost of premiums from time to time. Also it is good to shop around to see if there better deals among the different life insurance companies.

Cheap Life Insurance Quote: Get True Value Of Your Life

Life insurance sometimes plays a very important role in man’s life. There is no guarantee of anything and therefore, you cannot be so sure that no harm will happen to you. Any unexpected accident at any place may happen to you and you will not even get time to be ready for it. Any harm whether it is physical or is related to your property will ultimately lead to loss of money only. Therefore, you must get insurance so that you can cope up with such losses. For that you should look for the cheap life insurance quote and get an insurance that is profitable for you.

By trying the online services you will surely be able to get a good deal. There is every possibility for you to be lucky with a good deal just because the online sites provide wide facilities. You will be provided with a variety and a bevy of online insurance agencies. So, by going through their offers and quotes you can compare all of them. Such comparison will bring the best deal out.

The most important thing to be looked in the quotes is that the premium rate should not be high. If you have to pay a high amount as premium then that will be problematic for you. Next you should see that it have to cover all kind of damages occurred to you. The physical illness and the medical costs have to be covered by it. Otherwise there is no use of getting such insurance. Some policies use to provide a very less amount as help and that you have to avoid.

You will also be able to avail the cheap life insurance quote when you go for a whole family insurance policy. Such policies use to be cheap and are quite affordable.

Life Settlement Policy an effective tool

With the world moving at a rapid speed, everyone thinks of getting their future secured so as to meet the uncertainties of their life through the insurance policies and other investment avenues. Basically life insurance policies are long period investments that provide the benefits after a long period of time or incase there are any pre imposed conditions then in that case the benefits are reaped as per the specified conditions. Life settlements on the other hand are a mixture of a long term investment as they require insurance policies plus an immediate lump some amount facilitator. Life settlement policies are considered as a favorable option for the people who are considering securing their old age with the lump some amount generated through the life settlement. Incase you are intending to secure your future through the life settlements then it is important that you have considerable amount of knowledge about the life settlements. In this fast and dynamic world it is very much essential that you are aware and alert about the changes in your surroundings.
These days with the recession and the uncertainty which is prevailing in the money market it is important that you always a second option which is quite reliable. The life settlements can act as a valuable option that provides you with the feature of the declaration of selling the third party or to a life settlement company. They provide you with the best feature of selling the unwanted policy at the apt price. The transaction involved in the life settlement policies includes the feature wherein the third party would get the maturity amount of the insurance policy and you will be provided with an immediate aid. The purchaser of the insurance policy would be responsible for the subsequent payments of the insurance premium and interest.


The insights of the life settlement policies help the prospective purchaser to have a better judgement on the issue whether an insurance policy is profitable enough to retain it or sell. Incase you are finding that the premiums of policing are quite burdensome, and then it is good to understand that the policy can be disposed. Other than this there are many other considerations which are to be taken into account before you think of selling your policy, but the insights of life settlement can make your decisions beneficial. The biggest benefit that life settlement has provided that has increased the demand of these insurance policies is that it has provided for a secondary market for the sale of the insurance policy. Obviously the secondary market is for the people who are interested in purchasing the transferred policies.
As far as the benefits on the part of the investors are to be considered, the insights on life settlement enables him to ascertain the intrinsic worth of the deal. He would be rid of purchasing the policies which do not provide any benefit to him. Incase you are intending to be the owner of the life settlement policy and you do not possess the adequate knowledge about the benefits that it will yield to you, then you can always go in for professional help.

You too could have affordable health insurance

Many people do not understand how important it is to have health insurance. Health insurance protects you from possibly having to file for bankruptcy because of expensive treatments or medical care and by saving you money on possibly very expensive medical bills you are paying very low monthly premiums on one of the many affordable health insurance plans.

One huge reason why health insurance is so important is because it can aid you in finding diseases and illnesses earlier. With health insurance people are more likely to schedule appointments for yearly checkups. It is during these checkups that the doctor may find something wrong with you that can be diagnosed and treated immediately. One example of this would be breast cancer, with most Affordable health insurance companies breast cancer screening would be part of the checkup and could help immensely if the doctor were to find it earlier rather than later. Also, with affordable health insurance you will be more likely to schedule any vaccinations for you or your loved ones may need in order to stay healthy, like the flu shot during the winter time. The winter is the most popular time for people to get the flu and more people will be vaccinated and get flu shots if they have health insurance, which not only will keep them health but will also keep the flu from spreading as much.

Another reason why it is very important for people to purchase health insurance is because it alleviates stress. Everyday stresses have been proven to be one of the reasons why people get sick. One of those stresses that could be taken away would be not having insurance. If you get sick or even injured and you don’t have insurance one of your biggest concerns would be the expensive medical bills you may have to pay. Not having insurance not only will make you pay more for doctor’s visits, but it will also often make someone postpone going to the doctors because they may not have the money.

Postponing going to the doctors can cause people to become much more sick, or if they are injured they may become more injured as a result of constantly abusing it. If you are seriously injured or sick you likely will have extremely expensive medical bills to pay, so essentially having affordable health insurance will protect you from the expensive bills you would have to pay. Some people say that they don’t have the money to purchase health insurance but right now there are a ton of affordable health insurance companies that are able to offer you some great deals, and “not having the money” isn’t an excuse, it actually should be more of a reason to purchase insurance because if you do get sick the costs would likely be much higher than if you didn’t have insurance.

Visitor Medical Insurance

Overview:

Visitor medical insurance is insurance coverage that travelers purchase when they travel outside their home country. Even if a traveler/visitor has domestic insurance in his or her home country, this insurance usually will not provide coverage when traveling overseas. It is in this context that overseas visitor medical insurance is required. Given the high cost of health care, it can be financially very risky to travel overseas without proper visitor medical insurance.

Visitor medical insurance options and comparison:

There are different insurance providers that offer Visitors medical insurance and the visitor does have several plan options even with each insurance provider. Some websites allow visitors to compare the different plan options. Along with comparing the premium costs, you can also get a detailed comparison of the medical coverage as well as details regarding the provider network and the plan underwriter.

Types of visitor insurance plans:

There are mainly two types of visitor insurance plans
(a) Fixed benefits insurance
(b) Comprehensive insurance

(a) Fixed benefits visitor insurance - Fixed benefits plans are cheaper than comprehensive insurance plans, correspondingly the coverage is also limited. In these plans, you can purchase an overall medical maximum coverage, however there is a fixed coverage for different medical situations. Examples of the fixed coverage would be - a specific amount paid for each surgery, a fixed amount for hospital room, certain specified amount for the intensive care room, a limited amount for diagnostic treatments.

(b) Comprehensive visitor insurance - Comprehensive plans are more expensive than fixed benefit plans but the coverage is also superior to fixed benefit plans. In the comprehensive plans, the customer selects the medical maximum coverage, and the insurance plan covers them for this amount, without any limits for different medical treatments within the medical maximum coverage amount.

Visitor medical insurance coverage details:

Visitor insurance provides coverage against accident and sickness during the visitors travel outside his or her home country. When compared to domestic insurance there are two main limitations in visitor insurance plans. Visitor insurance will not provide coverage for preventative care or for pre-existing medical ailments. In summary, Visitor insurance can be viewed as insurance coverage for unanticipated health related expenses during overseas travel. However this insurance cannot be used to get pre planned health care treatment be it preventive in nature, or for an existing medical ailment while traveling overseas.

Visitor medical insurance - purchase procedure:
Visitor insurance plans can be purchased online using a credit card, or by faxing in an application with the relevant payment details. On completing the online transaction the policy details will be immediately emailed to the email address provided in the application. This email can be used as proof of insurance cover. A hard copy of the policy can also be requested to be mailed to the address provided in the application.

Visitor medical insurance - purchasing specifics
(a) The earliest the insurance plan can start is from the following day of the application or from any later date.
(b) The traveler’s passport details are required while completing the application.
(c) Insurance can be purchased even after the traveler has started his or her journey.

AmericanVisitorInsurance.com provides the best visitors medical insurance coverage.

Tips for getting the best car insurance quote

If you are looking for a great car insurance quote, it's important that you take the time to do some comparing. After all, if you want a great deal, you are going to have to do a bit of work to get one, but in the long run, it will be well worth it in terms of the money you can save. When you go about getting a quote on car insurance, there are several things to keep in mind. So, here are a few tips to remember that will help you get the best possible deal.

Compare Carefully

First of all, when you are looking for a good car insurance quote, comparing is imperative. However, when you are making comparisons, it's important that you only compare "apples to apples." Essentially this means that you need to only compare quotes that are similar. You can't compare two different quotes that include different types of coverage or different deductible amounts. Make sure that when you are making comparisons of quotes that the two policies you're comparing are exactly the same. This way you truly get the best deal.

Consider the Type of Coverage

When you are trying to get a quote, you need to consider the type of coverage that you want. The coverage that you choose will make a difference in the quote that you are going to get. A quote for liability insurance on your vehicle is going to be a lot cheaper than one for comprehensive coverage. In the same way, getting a quote that includes collision damage on a car that is barely worth $500 is usually a waste of money. So, when you get a car insurance quote, remember that the coverage you want is going to influence the price.

Deductibles Influence Your Quote

You'll also find that the amount of deductible that you choose influences the amount of your quote as well. The higher the deductible amount you choose, the lower your premium will end up being. However, while this may seem like a great idea at first, if you don't have the money to pay the deductible, it's not going to be a great deal for you. In some cases, going with a lower deductible may be a better choice for you.

Be Aware of Your Credit Score

It's important that you are aware of your credit score as well. In fact, you'll find that your credit score can definitely affect the car insurance quote that you end up getting. The worse your credit score is, the higher the your premium will end up being. However, great credit will get you a much better quote on your car insurance. While it may not seem fair, car insurance companies allegedly have statistics that shows that people with lower credit scores make more claims, so be sure your credit score is as good as it can be. It may seem like a waste of time while you are going through that process, but that is something that you should do anyway for more reasons than just car insurance, so this may help you to get it done now.